Xtrackers MSCI All World ex US Hedged Equity ETF
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
22.4x P/Sales
ratio
1.5x
P/BV
ratio
1.8x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI All World ex US Hedged Equity ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the performance of the MSCI ACWIex USA US Dollar Hedged Index.

FUND BASICS
Category International Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Jan 22, 2014
Assets (mns) $110
Currency USD
Expense ratio 40 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1870
Wgt avg mkt cap (mns) $97,118
Large cap (>$10bn) 84.4%
Mid cap ($2-10bn) 13.8%
Small cap (<$2bn) 0.2%
Developed mkts 72.2%
Emerging mkts 27.1%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 2.0 %
TENCENT HOLDINGS LTD 1.8 %
ALIBABA GROUP HOLDING LTD. SPONSOR 1.7 %
SAMSUNG ELECTRONICS CO LTD 1.4 %
NESTLE SA-REG 1.2 %
ROCHE HOLDING AG-GENUSSCHEIN 0.9 %
ASML HOLDING NV 0.9 %
NOVARTIS AG-REG 0.8 %
AIA GROUP LTD 0.6 %
LVMH MOET HENNESSY LOUIS VUI 0.6 %
Total 12.0 %

TOP COUNTRY EXPOSURE
JAPAN 15.1 %
CHINA 9.0 %
BRITAIN 8.5 %
FRANCE 6.1 %
CANADA 6.0 %
SWITZERLAND 5.9 %
GERMANY 5.3 %
SOUTH KOREA 4.2 %
TAIWAN 4.2 %
AUSTRALIA 4.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
7.4% 7.4% 8.3% -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.77 85%
MSCI EAFE 0.82 95%
MSCI Emg. Mkts. 0.63 73%

Technical Indicators
Recent close $31.46
30d moving avg. $30.65
Annualized volatility 15.6%
Short interest (ETF) 0.1%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.4%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $174,314

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Xtrackers MSCI All World ex US Hedged Equity ETF ETF based on the alternatives' overlap in portfolio holdings with DBAW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DBAW Expense: 40 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DBAW
Ticker Fund
Name
Overlap1
vs DBAW
(%)
Expense
ratio
(bp)
Savings
vs DBAW
(bp)
ALTAR
Score™
(%)
ALTAR
vs DBAW
(%)
ACWX iShares MSCI ACWI ex U.S. ETF 87.0 32 8 6.4 +0.2
VEU Vanguard FTSE All-World ex-US Index Fund 80.2 8 32 6.8 +0.6
IXUS ishares Core MSCI Total International Stock ETF 79.5 9 31 6.6 +0.4
CWI SPDR MSCI ACWI ex-US ETF 67.5 30 10 6.3 +0.1
SCHF Schwab International Equity ETF 67.1 6 34 6.6 +0.5
VEA Vanguard FTSE Developed Markets ETF 66.8 5 35 6.6 +0.5
VXUS Vanguard Total International Stock ETF 66.5 8 32 6.7 +0.6
VSGX Vanguard ESG International Stock ETF 65.0 17 23 6.4 +0.3
SPDW SPDR Portfolio Developed World ex-US ETF 63.8 4 36 6.3 +0.2
IDEV iShares Core MSCI International Developed Markets ETF 62.8 5 35 6.5 +0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 62.7 7 33 6.6 +0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 59.6 20 20 6.5 +0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 58.8 35 5 6.1 -0.0
EFA iShares MSCI EAFE ETF 58.6 32 8 6.3 +0.2
IEFA iShares Core MSCI EAFE ETF 58.6 7 33 6.6 +0.4
DFAI Dimensional International Core Equity Market ETF 58.4 18 22 6.4 +0.3
BKIE BNY Mellon International Equity ETF 57.3 4 36 6.6 +0.5
GSID Goldman Sachs MarketBeta International Equity ETF 56.8 20 20 6.4 +0.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 54.4 45 -5 7.7 +1.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 54.0 20 20 6.5 +0.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 52.3 39 1 7.5 +1.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 52.2 25 15 6.1 -0.1
JHMD John Hancock Multifactor Developed International ETF 51.5 39 1 6.6 +0.5
FNDF Schwab Fundamental International Large Co. Index ETF 50.4 25 15 7.7 +1.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 48.3 16 24 6.1 -0.1
ESGD iShares MSCI EAFE ESG Optimized ETF 47.2 20 20 6.2 +0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 46.4 30 10 6.0 -0.1
PDEV Principal International Multi-Factor Core Index ETF 45.0 25 15 7.1 +0.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 44.4 39 1 5.6 -0.5
IQSI IQ Candriam ESG International Equity ETF 43.2 15 25 6.4 +0.3
ISZE iShares Edge MSCI Intl Size Factor ETF 41.2 30 10 6.4 +0.2
CIL VictoryShares International Volatility Weighted Index ETF 40.5 45 -5 6.4 +0.3
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 40.5 45 -5 6.4 +0.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 40.4 35 5 6.0 -0.1
AVDE Avantis International Equity ETF 40.4 23 17 7.0 +0.8
ISDX Invesco RAFI Strategic Developed ex-US ETF 40.3 23 17 6.3 +0.1
ACWI iShares MSCI ACWI ETF 39.3 32 8 5.2 -1.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 38.8 40 0 7.3 +1.2
DWM WisdomTree International Equity Fund 38.0 48 -8 7.2 +1.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 37.5 20 20 5.4 -0.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 37.4 20 20 5.4 -0.7
IQIN IQ 500 International ETF 36.5 25 15 7.6 +1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 36.4 45 -5 6.0 -0.1
FLEE Franklin FTSE Europe ETF 36.2 9 31 6.5 +0.4
FLEH Franklin FTSE Europe Hedged ETF 36.2 9 31 6.5 +0.4
IEUR iShares Core MSCI Europe ETF 36.1 9 31 6.6 +0.5
SPEU SPDR Portfolio Europe ETF 35.9 9 31 6.8 +0.7
VYMI Vanguard International High Dividend Yield ETF 35.6 27 13 9.0 +2.9
BBEU JPMorgan BetaBuilders Europe ETF 35.6 9 31 6.7 +0.6
VGK Vanguard FTSE Europe ETF 35.4 8 32 6.8 +0.6
IEV iShares Europe ETF 34.7 59 -19 6.3 +0.2
VT Vanguard Total World Stock ETF 34.5 8 32 5.4 -0.7
DOL WisdomTree International LargeCap Dividend Fund 34.3 48 -8 7.2 +1.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 33.5 25 15 5.9 -0.2
EFV iShares MSCI EAFE Value ETF 33.0 39 1 8.4 +2.2
URTH iShares MSCI World ETF 32.5 24 16 5.0 -1.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.5 42 -2 4.7 -1.5
DMXF iShares ESG Advanced MSCI EAFE ETF 30.8 12 28 6.2 +0.1
EFG iShares MSCI EAFE Growth ETF 30.5 40 0 4.1 -2.0
QWLD SPDR MSCI World StrategicFactors ETF 30.2 30 10 5.4 -0.7
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 29.8 24 16 6.6 +0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 29.4 14 26 6.1 -0.0
TPIF Timothy Plan International ETF 28.6 62 -22 6.1 -0.1
EEM iShares MSCI Emerging Markets ETF 28.0 70 -30 6.2 +0.0
PQIN PGIM QMA Strategic Alpha International Equity ETF 28.0 29 11 7.1 +1.0
IEMG iShares Core MSCI Emerging Markets ETF 28.0 11 29 6.8 +0.6
RNDM First Trust Developed International Equity Select ETF 28.0 65 -25 5.8 -0.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 27.8 65 -25 6.2 +0.1
KOKU Xtrackers MSCI Kokusai Equity ETF 27.2 9 31 5.1 -1.1
TOK iShares MSCI Kokusai ETF 27.1 25 15 5.0 -1.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 26.7 9 31 5.2 -1.0
VPL Vanguard FTSE Pacific ETF 26.3 8 32 6.5 +0.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 26.1 36 4 7.0 +0.9
RESD WisdomTree International ESG Fund 26.1 30 10 6.5 +0.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 25.2 59 -19 10.8 +4.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 25.1 68 -28 5.9 -0.3
FLAX Franklin FTSE Asia Ex Japan ETF 24.7 19 21 6.5 +0.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 24.4 45 -5 6.2 +0.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 24.4 30 10 5.3 -0.9
JHEM John Hancock Multifactor Emerging Markets ETF 23.7 49 -9 7.6 +1.4
RBIN Nationwide Risk-Based International Equity ETF 23.5 42 -2 6.1 -0.0
QINT American Century Quality Diversified International ETF 23.0 39 1 5.8 -0.4
JPIN JPMorgan Diversified Return International Equity ETF 22.7 37 3 7.1 +1.0
VWO Vanguard FTSE Emerging Markets ETF 22.6 10 30 7.1 +1.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 22.5 30 10 7.6 +1.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 22.4 30 10 6.6 +0.5
SCHE Schwab Emerging Markets Equity ETF 22.4 11 29 6.9 +0.8
IVLU iShares Edge MSCI Intl Value Factor ETF 22.3 30 10 10.0 +3.9
BKEM BNY Mellon Emerging Markets Equity ETF 22.2 11 29 6.9 +0.7
EEMA iShares MSCI Emerging Markets Asia ETF 21.9 50 -10 6.5 +0.4
IMTM iShares Edge MSCI Intl Momentum Factor ETF 21.8 30 10 4.2 -1.9
IPAC iShares Core MSCI Pacific ETF 21.8 9 31 6.4 +0.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 21.2 45 -5 6.5 +0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 21.2 29 11 7.3 +1.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 20.7 47 -7 8.2 +2.0
EFAV iShares Edge MSCI Min Vol EAFE ETF 20.4 20 20 5.0 -1.1
SPEM SPDR Portfolio Emerging Markets ETF 20.1 11 29 6.7 +0.6

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

  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:
Xtrackers MSCI All World ex US Hedged Equity 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 11.1 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.54
 
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.