Xtrackers MSCI Asia Pacific Ex-Japan Hedged
ALTAR
Score™
7.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
14.9x P/Sales
ratio
3.3x
P/BV
ratio
1.0x Div.
yield
3.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI AC Asia Pacific ex Japan Hedged Equity Fund is an exchange-traded fund incorporated in the USA. The ETF seeks to track the performance of the MSCI AC Asia Pacific ex Japan USD Hedged Index

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Oct 01, 2013
Assets (mns) $139
Currency USD
Expense ratio 10 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 535
Wgt avg mkt cap (mns) $9,265
Large cap (>$10bn) 35.7%
Mid cap ($2-10bn) 47.3%
Small cap (<$2bn) 14.4%
Developed mkts 87.2%
Emerging mkts 12.8%

TOP TEN HOLDINGS
DEUTSCHE ANNINGTON IMMOBILIE 2.4 %
MITSUBISHI ESTATE CO LTD 2.4 %
MITSUI FUDOSAN CO LTD 2.3 %
UNIBAIL-RODAMCO-WESTFIELD STAPLED 2.0 %
LINK REIT 2.0 %
SUN HUNG KAI PROPERTIES 2.0 %
CK ASSET HOLDINGS LIMITED 1.6 %
SUMITOMO REALTY & DEVELOPMNT 1.6 %
GOODMAN GROUP 1.5 %
DEUTSCHE WOHNEN AG 1.2 %
Total 19.0 %

TOP COUNTRY EXPOSURE
JAPAN 19.5 %
HONG KONG 12.6 %
AUSTRALIA 7.0 %
BRITAIN 5.8 %
SINGAPORE 5.4 %
GERMANY 5.1 %
CANADA 4.3 %
FRANCE 2.7 %
PHILIPPINES 2.6 %
SWEDEN 2.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
17.8% 20.7% 5.8% -- 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.62 42%
MSCI EAFE 0.78 57%
MSCI Emg. Mkts. 0.67 68%

Technical Indicators
Recent close $29.47
30d moving avg. $29.44
Annualized volatility 11.5%
Short interest (ETF) 1.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 30
Turnover 0.6%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $2,937

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the Xtrackers MSCI Asia Pacific Ex-Japan Hedged ETF based on the alternatives' overlap in portfolio holdings with DBAP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DBAP Expense: 10 bp ALTAR Score™: 7.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DBAP
Ticker Fund
Name
Overlap1
vs DBAP
(%)
Expense
ratio
(bp)
Savings
vs DBAP
(bp)
ALTAR
Score™
(%)
ALTAR
vs DBAP
(%)
VNQI Vanguard Global ex-US Real Estate 70.8 12 -2 8.8 +1.0
WPS iShares S&P Developed ex-US Property 66.1 48 -38 6.8 -1.0
IFGL iShares FTSE EPRA/NARIET Developed REIT 60.2 48 -38 6.6 -1.2
DRW WisdomTree Global ex-US Real Estate 52.8 58 -48 8.9 +1.1
RWX SPDR DJ International REIT 46.0 59 -49 5.8 -2.0
FFR First Trust FTSE EPRA/NAREIT Global Real Estate 38.6 60 -50 6.1 -1.7
GRI Cohen & Steers Global Realty 38.5 55 -45 5.7 -2.1
RWO SPDR DJ Global Real Estate 37.5 50 -40 6.0 -1.8
REET iShares Global REIT 27.7 14 -4 6.2 -1.6
GQRE FlexShares Global Quality Real Estate 24.4 45 -35 6.4 -1.4
IFEU iShares FTSE EPRA/NAREIT Europe 22.1 48 -38 5.7 -2.1
IDLV Invesco S&P Int'l Developed Low Volatility 16.7 25 -15 6.4 -1.4
TAO Invesco China Real Estate 13.6 70 -60 13.3 +5.5
DWX SPDR S&P International Dividend ETF 12.7 45 -35 7.0 -0.8
SCIX Global X Scientific Beta Asia ex-Japan 12.6 38 -28 6.2 -1.6
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 12.1 24 -14 7.1 -0.7
RNDM First Trust Developed International Equity Select 11.7 65 -55 6.4 -1.4
EPP iShares MSCI Pacific ex-Japan 11.1 48 -38 6.4 -1.4
SCZ iShares MSCI EAFE Small Cap 10.1 39 -29 6.2 -1.6

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:
Xtrackers MSCI Asia Pacific Ex-Japan Hedged
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 7.9 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 7.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.49
 
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.