VanEck Vectors Oil Refiners
ALTAR
Score™
13.2% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
9.3x P/Sales
ratio
0.3x
P/BV
ratio
1.1x Div.
yield
4.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The VanEck Vectors Oil Refiners ETF tracks an index of global stocks issued by firms that earn at least 50% of their revenue from oil refining. The index is market-cap-weighted.

FUND BASICS
Category US Equities
Fund Sponsor Van Eck
Website www.vaneck.com
Inception date Aug 18, 2015
Assets (mns) $18
Currency USD
Expense ratio 60 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $23,887
Large cap (>$10bn) 60.8%
Mid cap ($2-10bn) 35.7%
Small cap (<$2bn) 3.5%
Developed mkts 63.5%
Emerging mkts 36.5%

TOP TEN HOLDINGS
NESTE OIL OYJ 8.7 %
RELIANCE INDS-SPONS GDR 144A 8.1 %
MARATHON PETROLEUM 7.7 %
PHILLIPS 66 6.8 %
VALERO ENERGY CORP 6.2 %
JX HOLDINGS INC 5.6 %
OMV AG 4.6 %
FORMOSA PETROCHEMICAL CORP 4.6 %
GALP ENERGIA SGPS SA-B SHRS 4.6 %
SK ENERGY CO LTD 4.6 %
Total 61.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 28.1 %
JAPAN 11.3 %
SOUTH KOREA 9.5 %
FINLAND 8.7 %
INDIA 8.1 %
POLAND 6.0 %
AUSTRIA 4.7 %
TAIWAN 4.6 %
PORTUGAL 4.6 %
AUSTRALIA 4.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-10.9% -11.2% -- -- 11.4%

Market Correlations
versus... Beta R-squared
S&P500 1.07 44%
MSCI EAFE 1.32 56%
MSCI Emg. Mkts. 0.91 46%

Technical Indicators
Recent close $26.27
30d moving avg. $27.31
Annualized volatility 19.5%
Short interest (ETF) 0.2%
Relative strength (RSI) 33

Liquidity measures
Avg. volume (thou.) 37
Turnover 5.3%
Bid/Ask (% of price) 0.47%
ADV underlying (mns) $1,505

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 18 potential alternatives to the VanEck Vectors Oil Refiners ETF based on the alternatives' overlap in portfolio holdings with CRAK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CRAK Expense: 60 bp ALTAR Score™: 13.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CRAK
Ticker Fund
Name
Overlap1
vs CRAK
(%)
Expense
ratio
(bp)
Savings
vs CRAK
(bp)
ALTAR
Score™
(%)
ALTAR
vs CRAK
(%)
FTXN First Trust Nasdaq Oil & Gas 23.5 60 0 5.0 -8.2
IEO iShares U.S. Oil & Gas Exploration & Production 21.2 42 18 4.3 -8.9
PXI Invesco Dynamic Energy Sector 16.6 60 0 2.8 -10.5
PXE Invesco Dynamic Energy Exploration & Production 15.6 63 -3 4.8 -8.4
FXN First Trust Energy Alphadex 15.3 63 -3 6.0 -7.2
JHME John Hancock Multifactor Energy 15.2 40 20 4.0 -9.2
XOP SPDR S&P Oil & Gas Exploration & Production 13.3 35 25 4.8 -8.5
RYE Invesco S&P Equal Weight Energy ETF 13.2 40 20 4.1 -9.2
XLE Energy Select Sector SPDR 12.0 13 47 4.9 -8.3
IYE iShares DJ US Energy Sector 10.9 42 18 4.5 -8.7
VDE Vanguard Energy 10.8 10 50 4.5 -8.7
FENY Fidelity MSCI Energy 10.6 8 52 4.5 -8.7
FILL iShares MSCI Global Energy Producers 10.0 39 21 6.8 -6.4
IXC iShares Global Energy 8.3 46 14 5.8 -7.5
IGE iShares North American Natural Resources 7.8 46 14 4.5 -8.8
AMZA InfraCap MLP 7.3 240 -180 5.0 -8.2
RDIV Invesco S&P Ultra Dividend Revenue ETF 6.7 39 21 9.9 -3.3
EPOL iShares MSCI Poland Investable 6.0 63 -3 10.0 -3.2

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

Content on this tab for subscribers only

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:
VanEck Vectors Oil Refiners
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 14.6 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 13.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 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.