USCF SummerHaven SHPEI Index Fund
ALTAR
Score™
8.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
-49.0x P/Sales
ratio
0.4x
P/BV
ratio
1.2x Div.
yield
1.8%


  • 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) $1
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 199
Wgt avg mkt cap (mns) $2,916
Large cap (>$10bn) 4.2%
Mid cap ($2-10bn) 45.2%
Small cap (<$2bn) 50.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TENET HEALTHCARE CORP 0.7 %
CARS.COM, INC. 0.7 %
OWENS & MINOR INC 0.7 %
L BRANDS, INC. 0.7 %
GROUPON INC 0.7 %
TIVITY HEALTH, INC. 0.6 %
SELECT MEDICAL HOLDINGS CORP 0.6 %
DELUXE CORP 0.6 %
DIEBOLD INC 0.6 %
DOMTAR CORP 0.6 %
Total 6.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.8 %
IRELAND 1.3 %
BERMUDA 0.5 %
CANADA 0.5 %
CAYMAN ISLANDS 0.5 %
PUERTO RICO 0.5 %
BRITAIN 0.4 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-19.9% -14.9% -- -- -9.4%

Market Correlations
versus... Beta R-squared
S&P500 1.44 80%
MSCI EAFE 1.53 77%
MSCI Emg. Mkts. 1.11 66%

Technical Indicators
Recent close $16.85
30d moving avg. $15.53
Annualized volatility 29.6%
Short interest (ETF) 4.3%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 1
Turnover 2.0%
Bid/Ask (% of price) 1.63%
ADV underlying (mns) $8,978

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the USCF SummerHaven SHPEI Index Fund 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™: 8.5%


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
(%)
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 23.5 20 60 8.9 +0.4
JKL iShares Morningstar Small Cap Value ETF 22.5 30 50 9.6 +1.2
VUSE Vident Core US Equity Fund 22.4 48 32 8.4 -0.1
FYT First Trust Small Cap Value AlphaDEX Fund 22.2 72 8 9.2 +0.7
FNK First Trust Mid Cap Value AlphaDEX Fund 21.8 70 10 10.3 +1.8
RWK Invesco S&P MidCap 400 Revenue ETF 21.1 39 41 7.3 -1.2
AVUV Avantis U.S. Small Cap Value ETF 20.5 25 55 8.0 -0.5
EZM WisdomTree U.S. MidCap Earnings Fund 19.9 38 42 8.6 +0.1
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 19.8 29 51 9.0 +0.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 18.7 39 41 5.8 -2.7
SQLV Legg Mason Small-Cap Quality Value 18.5 62 18 7.2 -1.3
ROGS Hartford Multifactor Global Small Cap ETF 17.8 34 46 7.4 -1.1
MDYV SPDR S&P 400 Mid Cap Value ETF 17.1 15 65 8.1 -0.4
IJJ iShares S&P Mid-Cap 400 Value ETF 17.1 25 55 8.0 -0.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 17.0 15 65 8.1 -0.4
IJS iShares S&P Small-cap 600 Value ETF 16.9 25 55 8.1 -0.4
SLYV SPDR S&P 600 Small Cap Value ETF 16.9 15 65 8.2 -0.3
PVAL Principal Contrarian Value Index ETF 16.7 29 51 9.3 +0.8
AFSM First Trust Active Factor Small Cap ETF 16.7 75 5 5.2 -3.3
PSC Principal U.S. Small Cap Index ETF 16.6 38 42 6.3 -2.2
PMOM Principal Sustainable Momentum Index ETF 16.5 29 51 8.3 -0.2
VBR Vanguard Small Cap Value Index Fund 16.1 7 73 7.9 -0.6
VIOV Vanguard S&P Small-Cap 600 Value ETF 15.9 15 65 8.2 -0.3
FNX First Trust Mid Cap Core AlphaDEX Fund 15.8 61 19 6.3 -2.2
EES WisdomTree SmallCap Earnings Fund 15.8 38 42 10.1 +1.6
RFV Invesco S&P Midcap 400 Pure Value ETF 15.6 35 45 9.4 +0.9
RZV Invesco S&P Smallcap 600 Pure Value ETF 15.3 35 45 7.1 -1.4
FAB First Trust Multi Cap Value AlphaDEX Fund 15.2 71 9 9.4 +0.9
EWMC Invesco S&P MidCap 400 Equal Weight ETF 15.2 40 40 6.6 -1.9
FYX First Trust Small Cap Core AlphaDEX Fund 14.8 63 17 6.1 -2.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 14.5 30 50 7.2 -1.3
SSLY Syntax Stratified SmallCap ETF 14.5 30 50 5.9 -2.6
AFMC First Trust Active Factor Mid Cap ETF 14.4 65 15 5.9 -2.6
VFVA Vanguard U.S. Value Factor ETF 14.3 14 66 10.6 +2.1
SMDY Syntax Stratified MidCap ETF 14.1 30 50 5.9 -2.6
ISMD Inspire Small/Mid Cap Impact ETF 13.8 60 20 6.0 -2.5
IWN iShares Russell 2000 Value ETF 13.8 24 56 6.7 -1.8
RNMC Mid Cap US Equity Select ETF 13.5 60 20 7.1 -1.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 13.1 24 56 6.5 -2.0
XSVM Invesco S&P SmallCap Value with Momentum ETF 12.9 39 41 9.1 +0.6
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 12.8 40 40 6.0 -2.5
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 12.6 60 20 7.6 -0.9
RVRS Reverse Cap Weighted U.S. Large Cap ETF 12.4 29 51 7.6 -0.9
RNSC Small Cap US Equity Select ETF 12.2 60 20 6.8 -1.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 12.1 25 55 6.0 -2.5
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 12.1 39 41 6.2 -2.3
IUSS Invesco Strategic US Small Company ETF 12.1 23 57 4.9 -3.6
CALF Pacer US Small Cap Cash Cows 100 ETF 12.0 59 21 10.1 +1.6
PXMV Invesco S&P MidCap Value with Momentum ETF 12.0 39 41 9.3 +0.8
SYLD Cambria Shareholder Yield ETF 11.5 59 21 8.5 +0.0
VTWV Vanguard Russell 2000 Value Index Fund 11.4 15 65 6.9 -1.6
FSMD Fidelity Small-Mid Factor ETF 11.4 29 51 6.6 -1.9
DON WisdomTree U.S. MidCap Dividend Fund 11.3 38 42 7.3 -1.2
NUSC Nuveen ESG Small-Cap ETF 11.2 40 40 4.8 -3.7
BKSE BNY Mellon US Small Cap Core Equity ETF 11.2 4 76 5.7 -2.8
SLY SPDR S&P 600 Small Cap ETF 11.1 15 65 6.4 -2.1
SPSM SPDR Portfolio Small Cap ETF 11.1 5 75 6.5 -2.0
TPSC Timothy Plan US Small Cap Core ETF 11.1 52 28 7.6 -0.9
IJR iShares Core S&P Small Cap ETF 11.0 7 73 6.5 -2.0
IVOO Vanguard S&P Mid-Cap 400 ETF 11.0 10 70 6.1 -2.4
MDY SPDR S&P Midcap 400 ETF Trust 11.0 23 57 6.0 -2.5
SPMD SPDR Portfolio Mid Cap ETF 11.0 5 75 6.2 -2.3
IJH iShares Core S&P Mid-Cap ETF 10.9 6 74 6.2 -2.3
VALQ American Century STOXX U.S. Quality Value ETF 10.9 29 51 8.4 -0.1
PY Principal Shareholder Yield Index ETF 10.9 29 51 8.8 +0.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 10.8 17 63 4.8 -3.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 10.8 29 51 4.6 -3.9
ONEY SPDR Russell 1000 Yield Focus ETF 10.5 20 60 8.8 +0.3
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 10.5 35 45 7.6 -0.9
VIOO Vanguard S&P Small-Cap 600 ETF 10.4 10 70 6.5 -2.0
JHSC John Hancock Multifactor Small Cap ETF 10.3 42 38 5.6 -2.9
SCHM Schwab U.S. Mid-Cap ETF 9.9 4 76 5.9 -2.6
COWZ Pacer US Cash Cows 100 ETF 9.6 49 31 10.2 +1.7
PSCI Invesco S&P SmallCap Industrials ETF 9.6 29 51 6.0 -2.5
PBSM Invesco PureBeta MSCI USA Small Cap ETF 9.5 6 74 5.0 -3.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 9.1 20 60 4.7 -3.8
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 9.0 29 51 5.7 -2.8
CSML IQ Chaikin U.S. Small Cap ETF 9.0 35 45 3.6 -4.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 8.9 35 45 5.7 -2.8
RPV Invesco S&P 500 Pure Value ETF 8.8 35 45 10.5 +2.0
VFMF Vanguard U.S. Multifactor ETF 8.8 19 61 6.7 -1.8
VB Vanguard Small-Cap ETF 8.8 5 75 5.2 -3.3
IWM iShares Russell 2000 ETF 8.7 19 61 3.4 -5.1
AUSF Global X Adaptive U.S. Factor ETF 8.7 27 53 7.5 -1.0
VTWO Vanguard Russell 2000 Index Fund 8.5 10 70 3.5 -5.0
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 8.4 35 45 8.7 +0.2
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 8.4 7 73 5.2 -3.3
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 8.3 35 45 7.7 -0.8
SCHA Schwab U.S. Small-Cap ETF 8.3 4 76 4.4 -4.1
VFQY Vanguard U.S. Quality Factor ETF 8.3 13 67 5.7 -2.8
QSY WisdomTree U.S. LargeCap Value Fund 8.1 38 42 6.5 -2.0
PSCT Invesco S&P SmallCap Information Technology ETF 8.1 29 51 5.3 -3.2
CVY Invesco Zacks Multi-Asset Income ETF 7.8 97 -17 10.9 +2.4
XHS SPDR S&P Health Care Services ETF 7.8 35 45 4.3 -4.2
SLT Salt TruBeta High Exposure ETF 7.7 29 51 8.7 +0.2
TUSA First Trust Total US Market AlphaDEX ETF 7.6 70 10 5.6 -2.9
VAMO Cambria Value & Momentum ETF 7.6 64 16 6.3 -2.2
JKJ iShares Morningstar Small-Cap ETF 7.5 25 55 6.3 -2.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 7.4 39 41 3.9 -4.6
JHMM John Hancock Multifactor Mid Cap ETF 7.3 42 38 5.4 -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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 Fund
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 11.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 CATEGORY
AVERAGE
1.52
 
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.