USCF SummerHaven SHPEI Index
ALTAR
Score™
11.3% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
12.5x P/Sales
ratio
0.4x
P/BV
ratio
1.1x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The USCF SummerHaven SHPEI Index Fund tracks an equal-weighted index of roughly 200 micro-, small-, and midcap US stocks that exhibit similar return characteristics to those companies held by private equity firms.

FUND BASICS
Category US Equities
Fund Sponsor USCF Advisers
Website www.uscfinvestments.com
Inception date Dec 01, 2017
Assets (mns) $29
Currency USD
Expense ratio 80 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 271
Wgt avg mkt cap (mns) $1,445
Large cap (>$10bn) 0.5%
Mid cap ($2-10bn) 22.5%
Small cap (<$2bn) 77.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
STAMPS.COM INC 0.7 %
SYNAPTICS INC 0.7 %
VISTEON CORP 0.6 %
AMKOR TECHNOLOGY INC 0.6 %
ATKORE INTERNATIONAL GROUP INC. 0.6 %
BUCKLE INC/THE 0.6 %
COLLEGIUM PHARMACEUTICAL, INC. 0.6 %
REALOGY HOLDINGS CORP 0.6 %
TRIBUNE PUBLISHING CO 0.6 %
XPO LOGISTICS INC 0.5 %
Total 6.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.7 %
PUERTO RICO 0.7 %
LUXEMBOURG 0.6 %
CANADA 0.5 %
ISRAEL 0.4 %
BERMUDA 0.4 %
BRITAIN 0.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
9.2% -4.7% -- -- -3.6%

Market Correlations
versus... Beta R-squared
S&P500 1.26 70%
MSCI EAFE 1.31 57%
MSCI Emg. Mkts. 0.91 41%

Technical Indicators
Recent close $20.13
30d moving avg. $20.22
Annualized volatility 22.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.53%
ADV underlying (mns) $4,448

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the USCF SummerHaven SHPEI Index ETF based on the alternatives' overlap in portfolio holdings with BUY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BUY Expense: 80 bp ALTAR Score™: 11.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BUY
Ticker Fund
Name
Overlap1
vs BUY
(%)
Expense
ratio
(bp)
Savings
vs BUY
(bp)
ALTAR
Score™
(%)
ALTAR
vs BUY
(%)
OMFS Oppenheimer Russell 2000 Dynamic Multifactor 32.3 39 41 5.2 -6.1
SQLV Legg Mason Small-Cap Quality Value 25.9 60 20 -5.0 -16.3
AVUV Avantis U.S. Small Cap Value 23.8 25 55 7.4 -3.8
PQSV PGIM QMA Strategic Alpha Small-Cap Value 21.4 29 51 6.2 -5.0
CSML IQ Chaikin U.S. Small Cap 21.3 35 45 7.9 -3.4
EES WisdomTree SmallCap Earnings 20.7 38 42 9.1 -2.2
RWJ Invesco S&P SmallCap 600 Revenue ETF 18.9 39 41 -5.2 -16.5
FYT First Trust Small Cap Value AlphaDEX 18.8 76 4 7.2 -4.1
RZV Invesco S&P Smallcap 600 Pure Value 18.4 35 45 6.6 -4.7
FDM First Trust DJ Select Microcap 17.9 60 20 6.9 -4.3
BUYN USCF SummerHaven SHPEN Index 17.8 80 0 6.1 -5.2
FYX First Trust Small Cap Core Alphadex 16.9 66 14 5.5 -5.8
ROGS Lattice Global Small Cap Strategy 16.6 39 41 7.2 -4.0
EWSC Invesco S&P Small Cap 600 Equal Weight 16.1 40 40 3.0 -8.3
IJS iShares S&P 600 SmallCap Value 15.6 25 55 6.7 -4.5
SLYV SPDR S&P600 Small Cap Value 15.6 15 65 6.8 -4.5
VIOV Vanguard S&P Small-Cap 600 Value 15.5 20 60 6.8 -4.4
CSF Compass EMP US Discovery 500 Enhanced Vol. 15.3 35 45 7.2 -4.1
CSA Victory CEMP US Small Cap Volatility Wtd 15.3 35 45 7.1 -4.1
XSVM Invesco S&P SmallCap Value with Momentum 15.2 39 41 8.2 -3.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
USCF SummerHaven SHPEI Index
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.8 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 11.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 CATEGORY
AVERAGE
1.56
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.