Core Alternative ETF
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.8x P/Sales
ratio
2.2x
P/BV
ratio
3.8x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
CCOR is an actively managed ETF that seeks capital appreciation and preservation with low correlation to the broad US equity market. The fund primarily holds dividend-paying large-cap stocks with an option collar overlay.

FUND BASICS
Category US Equities
Fund Sponsor Core Alternative Capital
Website corealtfunds.com
Inception date May 23, 2017
Assets (mns) $123
Currency USD
Expense ratio 109 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 47
Wgt avg mkt cap (mns) $228,540
Large cap (>$10bn) 98.3%
Mid cap ($2-10bn) 1.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 2.7 %
MICROSOFT CORP 2.6 %
ORACLE CORP 2.6 %
NORFOLK SOUTHERN CORP 2.5 %
PROCTER & GAMBLE CO/THE 2.5 %
AIR PRODUCTS & CHEMICALS INC 2.5 %
DOLLAR GENERAL CORP 2.5 %
ABBOTT LABORATORIES 2.5 %
MORGAN STANLEY 2.5 %
WASTE MANAGEMENT INC 2.5 %
Total 25.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.8 %
IRELAND 2.3 %
BRITAIN 1.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.3% 1.7% -- -- 4.4%

Market Correlations
versus... Beta R-squared
S&P500 -0.10 11%
MSCI EAFE -0.13 15%
MSCI Emg. Mkts. -0.10 16%

Technical Indicators
Recent close $27.24
30d moving avg. $27.87
Annualized volatility 5.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 26
Turnover 0.6%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $4,060

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Core Alternative ETF ETF based on the alternatives' overlap in portfolio holdings with CCOR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CCOR Expense: 109 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CCOR
Ticker Fund
Name
Overlap1
vs CCOR
(%)
Expense
ratio
(bp)
Savings
vs CCOR
(bp)
ALTAR
Score™
(%)
ALTAR
vs CCOR
(%)
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 41.2 12 97 5.1 +0.2
MGV Vanguard Mega Cap Value ETF 37.9 7 102 7.3 +2.4
DLN WisdomTree U.S. LargeCap Dividend Fund 35.6 28 81 7.1 +2.1
DGRO iShares Core Dividend Growth ETF 34.6 8 101 7.0 +2.1
VYM Vanguard High Dividend Yield Index ETF 34.4 6 103 7.6 +2.7
OUSA O'Shares FTSE US Quality Dividend ETF 34.1 48 61 6.6 +1.7
PFM Invesco Dividend Achievers ETF 34.1 53 56 5.4 +0.5
ACIO Aptus Collared Income Opportunity ETF 32.9 79 30 5.2 +0.3
DTD WisdomTree U.S.Total Dividend Fund 32.8 28 81 7.2 +2.3
VTV Vanguard Value Index Fund 32.5 4 105 7.5 +2.6
FTCS First Trust Capital Strength ETF 31.4 58 51 5.1 +0.2
QDEF FlexShares Quality Dividend Defensive Index Fund 31.1 37 72 7.0 +2.1
XLG Invesco S&P 500 Top 50 ETF 30.9 20 89 5.9 +1.0
OEF iShares S&P 100 ETF 30.8 20 89 5.9 +1.0
DIVB iShares U.S. Dividend & Buyback ETF 30.4 25 84 7.3 +2.3
SPQQ Siren Large Cap Blend Index ETF 30.3 20 89 5.3 +0.4
QUS SPDR MSCI USA StrategicFactors ETF 30.0 15 94 6.2 +1.3
FDLO Fidelity Low Volatility Factor ETF 29.9 29 80 5.2 +0.3
VIG Vanguard Dividend Appreciation Index Fund 29.8 6 103 5.3 +0.4
IWX iShares Russell Top 200 Value ETF 29.7 20 89 6.9 +2.0
SCHV Schwab U.S. Large-Cap Value ETF 29.6 4 105 7.3 +2.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 29.6 28 81 7.4 +2.4
EDOW First Trust Dow 30 Equal Weight ETF 29.0 50 59 6.1 +1.2
FDRR Fidelity Dividend ETF for Rising Rates 28.5 29 80 7.7 +2.8
QDF FlexShares Quality Dividend Index Fund 28.2 37 72 7.0 +2.1
EPS WisdomTree U.S. Earnings 500 Fund 28.2 8 101 7.2 +2.3
EQWL Invesco Russell Top 200 Equal Weight ETF 27.9 25 84 6.3 +1.3
DIA SPDR Dow Jones Industrial Average ETF Trust 27.8 16 93 5.7 +0.8
USDY Pacific Global US Equity Income ETF 27.8 29 80 7.2 +2.3
FQAL Fidelity Quality Factor ETF 27.8 29 80 6.3 +1.3
NACP Impact Shares NAACP Minority Empowerment ETF 27.8 75 34 5.7 +0.8
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 27.7 35 74 7.1 +2.2
ESG FlexShares STOXX US ESG Impact Index Fund 27.7 32 77 5.7 +0.8
IWL iShares Russell Top 200 ETF 27.5 15 94 5.8 +0.9
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 27.4 49 60 5.0 +0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 27.3 0 109 6.0 +1.1
JKD iShares Morningstar Large-Cap ETF 27.3 20 89 8.1 +3.2
FLLV Franklin Liberty U.S. Low Volatility ETF 27.2 29 80 6.0 +1.0
RAFE PIMCO RAFI ESG U.S. ETF 27.2 29 80 7.7 +2.8
USMV iShares Edge MSCI Min Vol USA ETF 27.1 15 94 5.6 +0.6
IVE iShares S&P 500 Value ETF 26.6 18 91 7.4 +2.4
MGC Vanguard Mega Cap Index Fund 26.6 7 102 6.0 +1.0
VOOV Vanguard S&P 500 Value ETF 26.5 10 99 7.4 +2.5
ADME Aptus Drawdown Managed Equity ETF 26.5 79 30 4.3 -0.6
SPYV SPDR Portfolio S&P 500 Value ETF 26.5 4 105 7.5 +2.6
DSTL Distillate US Fundamental Stability & Value ETF 26.4 39 70 7.0 +2.0
SPHQ Invesco S&P 500 Quality ETF 26.1 15 94 5.3 +0.3
FDVV Fidelity Core Dividend ETF 25.7 29 80 7.7 +2.8
JKF iShares Morningstar Large Cap Value ETF 25.7 25 84 7.8 +2.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 25.6 49 60 5.7 +0.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 25.5 25 84 7.4 +2.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 25.5 20 89 5.7 +0.8
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 25.5 75 34 5.7 +0.8
JQUA JPMorgan U.S. Quality Factor ETF 25.4 12 97 5.7 +0.8
PRF Invesco FTSE RAFI US 1000 ETF 25.4 39 70 7.4 +2.4
NOBL ProShares S&P 500 Dividend Aristocrats ETF 25.3 35 74 6.2 +1.3
IOO iShares Global 100 ETF 25.2 40 69 6.1 +1.2
FVAL Fidelity Value Factor ETF 25.1 29 80 8.6 +3.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 25.0 19 90 6.8 +1.8
LVUS Hartford Multifactor Low Volatility US Equity ETF 25.0 19 90 0.0 -4.9
SPXN ProShares S&P 500 Ex-Financials ETF 25.0 27 82 5.8 +0.9
VSDA VictoryShares Dividend Accelerator ETF 24.9 35 74 4.8 -0.1
IUSV iShares Core S&P U.S. Value ETF 24.9 4 105 7.6 +2.7
HUSV First Trust Horizon Managed Volatility Domestic ETF 24.8 70 39 5.1 +0.2
IUS Invesco Strategic US ETF 24.7 19 90 7.1 +2.2
SPMV Invesco S&P 500 Minimum Variance ETF 24.3 10 99 5.9 +1.0
SPY SPDR S&P 500 ETF Trust 24.3 9 100 6.1 +1.1
PBP Invesco S&P 500 BuyWrite ETF 24.2 49 60 5.7 +0.7
XYLG Global X S&P 500 Covered Call & Growth ETF 24.2 60 49 5.7 +0.8
FLQL Franklin LibertyQ U.S. Equity ETF 24.1 15 94 6.3 +1.4
SPLG SPDR Portfolio Large Cap ETF 24.1 3 106 6.1 +1.2
DJD Invesco Dow Jones Industrial Average Dividend ETF 24.1 7 102 7.1 +2.1
IVV iShares Core S&P 500 ETF 24.0 3 106 6.1 +1.2
SPXT ProShares S&P 500 Ex-Technology ETF 24.0 27 82 5.6 +0.7
VOO VANGUARD S&P 500 ETF 23.9 3 106 6.1 +1.2
QLV FlexShares US Quality Low Volatility Index Fund 23.9 22 87 5.4 +0.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 23.8 25 84 7.4 +2.5
HSPX Global X S&P 500 Covered Call ETF 23.8 60 49 5.5 +0.6
TMDV ProShares Russell US Dividend Growers ETF 23.6 35 74 5.7 +0.8
SPXE ProShares S&P 500 Ex-Energy ETF 23.6 27 82 6.1 +1.1
SNPE Xtrackers S&P 500 ESG ETF 23.5 10 99 6.0 +1.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 23.4 20 89 6.1 +1.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 23.4 7 102 6.0 +1.1
RECS Columbia Research Enhanced Core ETF 23.3 15 94 6.6 +1.6
PWV Invesco Dynamic Large Cap Value ETF 23.2 56 53 8.3 +3.4
PBUS Invesco PureBeta MSCI USA ETF 23.1 4 105 6.0 +1.1
WOMN Impact Shares YWCA Women's Empowerment ETF 23.0 75 34 5.1 +0.2
VV Vanguard Large-Cap Index Fund 23.0 4 105 5.9 +1.0
SPTM SPDR Portfolio Total Stock Market ETF 22.9 3 106 6.2 +1.3
SCHX Schwab U.S. Large-Cap ETF 22.9 3 106 5.9 +1.0
HDV iShares Core High Dividend ETF 22.9 8 101 7.1 +2.1
DURA VanEck Vectors Morningstar Durable Dividend ETF 22.7 29 80 7.2 +2.3
PWC Invesco Dynamic Market ETF 22.7 58 51 5.9 +1.0
VFMV Vanguard U.S. Minimum Volatility ETF 22.6 13 96 4.4 -0.5
QLC FlexShares US Quality Large Cap Index Fund 22.5 32 77 6.0 +1.1
QUAL iShares MSCI Usa Quality Factor ETF 22.3 15 94 6.0 +1.0
JVAL JPMorgan U.S. Value Factor ETF 22.3 12 97 9.0 +4.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 22.3 60 49 5.4 +0.5
SCHK Schwab 1000 Index ETF 22.3 5 104 5.9 +1.0
IQSU IQ Candriam ESG US Equity ETF 22.3 9 100 6.2 +1.3

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:
Core Alternative ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.8 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 109 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.51
 
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.