USCF SummerHaven SHPEI Index Fund
ALTAR
Score™
11.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
23.7x P/Sales
ratio
0.3x
P/BV
ratio
0.9x Div.
yield
2.2%


  • 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) $23
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 267
Wgt avg mkt cap (mns) $1,162
Large cap (>$10bn) 0.7%
Mid cap ($2-10bn) 17.2%
Small cap (<$2bn) 82.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
STAMPS.COM INC 2.0 %
PETMED EXPRESS INC 1.1 %
SYNAPTICS INC 1.0 %
UNITED NATURAL FOODS INC 0.9 %
COLLEGIUM PHARMACEUTICAL, INC. 0.9 %
AXCELIS TECHNOLOGIES, INC. 0.8 %
SAIA INC 0.8 %
SPARTANNASH CO 0.8 %
WEIS MARKETS INC 0.7 %
PHOTRONICS INC 0.7 %
Total 9.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.8 %
CANADA 0.6 %
PUERTO RICO 0.6 %
LUXEMBOURG 0.5 %
ISRAEL 0.3 %
BERMUDA 0.3 %
BRITAIN 0.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-25.6% -14.7% -- -- -12.7%

Market Correlations
versus... Beta R-squared
S&P500 1.45 81%
MSCI EAFE 1.53 76%
MSCI Emg. Mkts. 1.19 68%

Technical Indicators
Recent close $15.55
30d moving avg. $14.16
Annualized volatility 30.4%
Short interest (ETF) 0.3%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.1%
Bid/Ask (% of price) 1.33%
ADV underlying (mns) $4,191

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 11.6%


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
(%)
AVUV Avantis U.S. Small Cap Value ETF 24.2 25 55 9.8 -1.9
SQLV Legg Mason Small-Cap Quality Value 22.8 62 18 7.7 -3.9
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 21.4 29 51 10.9 -0.8
ROGS Hartford Multifactor Global Small Cap ETF 21.0 34 46 8.4 -3.2
EES WisdomTree SmallCap Earnings Fund 21.0 38 42 12.0 +0.4
RWJ Invesco S&P SmallCap 600 Revenue ETF 18.5 39 41 6.0 -5.7
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 18.0 39 41 6.4 -5.2
RZV Invesco S&P Smallcap 600 Pure Value ETF 17.9 35 45 9.7 -2.0
FDM First Trust Dow Jones Select Microcap Index Fund 17.0 60 20 7.8 -3.8
VUSE Vident Core US Equity Fund 16.4 48 32 8.1 -3.6
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 16.4 40 40 6.4 -5.2
SLYV SPDR S&P 600 Small Cap Value ETF 16.0 15 65 9.9 -1.7
IJS iShares S&P Small-cap 600 Value ETF 16.0 25 55 9.7 -2.0
BUYN USCF SummerHaven SHPEN Index Fund 15.9 80 0 13.8 +2.2
VIOV Vanguard S&P Small-Cap 600 Value ETF 15.8 15 65 9.6 -2.1
FYT First Trust Small Cap Value AlphaDEX Fund 15.2 72 8 9.8 -1.8
IWN iShares Russell 2000 Value ETF 14.7 24 56 7.6 -4.1
VAMO Cambria Value & Momentum ETF 14.6 64 16 7.9 -3.7
TPSC Timothy Plan US Small Cap Core ETF 14.4 52 28 8.0 -3.7
VTWV Vanguard Russell 2000 Value Index Fund 14.4 15 65 7.7 -4.0
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 14.3 35 45 8.6 -3.1
AFSM First Trust Active Factor Small Cap ETF 14.0 75 5 6.6 -5.0
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 13.8 30 50 8.0 -3.6
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 13.7 24 56 7.9 -3.7
FYX First Trust Small Cap Core AlphaDEX Fund 13.7 63 17 7.0 -4.7
XSVM Invesco S&P SmallCap Value with Momentum ETF 13.1 39 41 10.7 -0.9
CSML IQ Chaikin U.S. Small Cap ETF 13.0 35 45 5.2 -6.5
CALF Pacer US Small Cap Cash Cows 100 ETF 12.4 59 21 11.9 +0.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 12.0 25 55 6.8 -4.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 11.9 29 51 6.3 -5.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 11.4 20 60 6.4 -5.3
SPSM SPDR Portfolio Small Cap ETF 11.2 5 75 7.6 -4.1
IJR iShares Core S&P Small Cap ETF 11.2 7 73 7.5 -4.1
SLY SPDR S&P 600 Small Cap ETF 11.2 15 65 7.5 -4.2
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 11.1 35 45 8.7 -3.0
ISMD Inspire Small/Mid Cap Impact ETF 11.0 61 19 7.0 -4.6
VIOO Vanguard S&P Small-Cap 600 ETF 10.9 10 70 7.4 -4.3
RWK Invesco S&P MidCap 400 Revenue ETF 10.9 39 41 8.0 -3.6
IWC iShares Micro-Cap ETF 10.7 60 20 -4.0 -15.6
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 10.6 35 45 6.5 -5.1
IUSS Invesco Strategic US Small Company ETF 10.6 23 57 6.3 -5.3
VFVA Vanguard U.S. Value Factor ETF 10.6 13 67 12.1 +0.4
JKL iShares Morningstar Small Cap Value ETF 10.6 30 50 10.4 -1.2
VBR Vanguard Small Cap Value Index Fund 10.3 7 73 8.9 -2.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 10.2 39 41 4.4 -7.2
SYLD Cambria Shareholder Yield ETF 10.2 59 21 10.0 -1.6
RNSC Small Cap US Equity Select ETF 10.2 60 20 8.1 -3.6
XRT SPDR S&P Retail ETF 10.1 35 45 7.2 -4.4
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 10.0 29 51 9.3 -2.4
PSC Principal U.S. Small Cap Index ETF 9.8 38 42 7.7 -4.0
VFMF Vanguard U.S. Multifactor ETF 9.7 18 62 7.4 -4.2
DES WisdomTree U.S. SmallCap Dividend Fund 9.7 38 42 9.0 -2.6
EZM WisdomTree U.S. MidCap Earnings Fund 9.2 38 42 9.7 -1.9
MDYV SPDR S&P 400 Mid Cap Value ETF 8.7 15 65 8.8 -2.9
IJJ iShares S&P Mid-Cap 400 Value ETF 8.7 25 55 8.7 -3.0
IVOV Vanguard S&P Mid-Cap 400 Value ETF 8.7 15 65 8.8 -2.8
EWMC Invesco S&P MidCap 400 Equal Weight ETF 8.6 40 40 7.2 -4.4
VFQY Vanguard U.S. Quality Factor ETF 8.4 13 67 6.4 -5.3
FAB First Trust Multi Cap Value AlphaDEX Fund 8.2 71 9 10.3 -1.3
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 8.2 35 45 9.9 -1.8
IWM iShares Russell 2000 ETF 8.1 19 61 3.9 -7.8
FSMD Fidelity Small-Mid Factor ETF 8.0 29 51 7.3 -4.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 8.0 29 51 2.2 -9.5
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 8.0 38 42 9.2 -2.5
PSCT Invesco S&P SmallCap Information Technology ETF 7.9 29 51 5.8 -5.8
VTWO Vanguard Russell 2000 Index Fund 7.8 10 70 3.9 -7.7
RFV Invesco S&P Midcap 400 Pure Value ETF 7.7 35 45 10.6 -1.0
XSHQ Invesco S&P SmallCap Quality ETF 7.6 29 51 6.2 -5.4
SMDY Syntax Stratified MidCap ETF 7.3 30 50 6.7 -5.0
DWAS Invesco DWA SmallCap Momentum ETF 7.1 60 20 -1.1 -12.7
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 6.9 17 63 5.2 -6.5
PSCI Invesco S&P SmallCap Industrials ETF 6.7 29 51 7.1 -4.6
IFRA iShares U.S. Infrastructure ETF 6.7 40 40 5.9 -5.7
SCHA Schwab U.S. Small-Cap ETF 6.6 4 76 5.1 -6.5
SPMD SPDR Portfolio Mid Cap ETF 6.6 5 75 6.7 -5.0
MDY SPDR S&P Midcap 400 ETF Trust 6.6 23 57 6.5 -5.2
IJH iShares Core S&P Mid-Cap ETF 6.6 6 74 6.6 -5.0
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 6.5 20 60 10.2 -1.5
IVOO Vanguard S&P Mid-Cap 400 ETF 6.5 10 70 6.5 -5.1
PBSM Invesco PureBeta MSCI USA Small Cap ETF 6.3 6 74 5.4 -6.2
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 6.3 125 -45 -3.0 -14.6
AFMC First Trust Active Factor Mid Cap ETF 6.2 65 15 6.5 -5.1
PXMV Invesco S&P MidCap Value with Momentum ETF 6.0 39 41 9.9 -1.7
NUSC Nuveen ESG Small-Cap ETF 6.0 40 40 5.3 -6.4
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 5.7 80 0 5.6 -6.1
SLYG SPDR S&P 600 Small Cap Growth ETF 5.7 15 65 5.6 -6.1
IJT iShares S&P Small-Cap 600 Growth ETF 5.7 25 55 5.5 -6.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 5.6 12 68 8.7 -3.0
VIOG Vanguard S&P Small-Cap 600 Growth ETF 5.6 16 64 5.6 -6.1
FNK First Trust Mid Cap Value AlphaDEX Fund 5.5 70 10 11.7 +0.1
JSML Janus Henderson Small Cap Growth Alpha ETF 5.5 35 45 6.2 -5.4
VFLQ Vanguard U.S. Liquidity Factor ETF 5.5 13 67 3.7 -8.0
VB Vanguard Small-Cap ETF 5.5 5 75 5.8 -5.9
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 5.3 48 32 6.6 -5.1
FNX First Trust Mid Cap Core AlphaDEX Fund 5.2 61 19 7.2 -4.5
PXSG Invesco S&P SmallCap Momentum ETF 5.1 39 41 5.4 -6.2
PAVE Global X U.S. Infrastructure Development ETF 5.0 47 33 6.1 -5.6
RZG Invesco S&P Smallcap 600 Pure Growth ETF 4.9 35 45 6.6 -5.0

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 10.6 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 11.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.