Xtrackers MSCI EAFE Hedged
ALTAR
Score™
6.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
15.2x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI EAFE Hedged Equity Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EAFE US Dollar Hedged Net Index (the "Underlying Index").

FUND BASICS
Category International Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Jun 09, 2011
Assets (mns) $5,115
Currency USD
Expense ratio 35 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 924
Wgt avg mkt cap (mns) $62,645
Large cap (>$10bn) 85.2%
Mid cap ($2-10bn) 14.4%
Small cap (<$2bn) 0.2%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 2.1 %
ROCHE HOLDING AG-GENUSSCHEIN 1.4 %
NOVARTIS AG-REG 1.3 %
TOYOTA MOTOR CORP 1.1 %
HSBC HOLDINGS PLC 1.0 %
SAP AG 0.9 %
BP PLC 0.9 %
TOTAL SA 0.9 %
ROYAL DUTCH SHELL PLC-A SHS 0.9 %
ASTRAZENECA PLC 0.8 %
Total 11.3 %

TOP COUNTRY EXPOSURE
JAPAN 23.9 %
BRITAIN 15.2 %
FRANCE 10.0 %
SWITZERLAND 9.3 %
GERMANY 8.3 %
AUSTRALIA 6.5 %
NETHERLANDS 4.2 %
HONG KONG 3.0 %
SPAIN 2.6 %
SWEDEN 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
23.2% 15.5% 7.1% -- 10.1%

Market Correlations
versus... Beta R-squared
S&P500 0.70 71%
MSCI EAFE 0.83 83%
MSCI Emg. Mkts. 0.51 51%

Technical Indicators
Recent close $33.31
30d moving avg. $33.41
Annualized volatility 10.0%
Short interest (ETF) 1.1%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 759
Turnover 0.5%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $48,279

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Xtrackers MSCI EAFE Hedged ETF based on the alternatives' overlap in portfolio holdings with DBEF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DBEF Expense: 35 bp ALTAR Score™: 6.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DBEF
Ticker Fund
Name
Overlap1
vs DBEF
(%)
Expense
ratio
(bp)
Savings
vs DBEF
(bp)
ALTAR
Score™
(%)
ALTAR
vs DBEF
(%)
EFA iShares MSCI EAFE 95.0 31 4 6.9 -0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free 87.6 20 15 7.0 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America 86.8 7 28 7.5 +0.5
HFXI IQ 50 Percent Hedged FTSE Int'l 86.2 20 15 7.3 +0.4
IEFA iShares Core MSCI EAFE 83.8 7 28 7.0 +0.1
SCHF Schwab International Equity 80.3 6 29 7.3 +0.4
IDEV iShares Core MSCI Int'l Developed Markets 75.5 5 30 7.1 +0.1
SPDW SPDR Portfolio World ex-US 73.1 4 31 7.1 +0.2
VEA Vanguard Europe Pacific 70.7 5 30 7.3 +0.4
JHMD John Hancock Multifactor Developed International 69.5 45 -10 7.1 +0.2
ESGD iShares MSCI EAFE ESG Optimized 68.3 20 15 6.8 -0.1
PXF Invesco FTSE-RAFI Developed ex-US 66.0 45 -10 8.1 +1.2
ACWX iShares MSCI ACWI ex-US 65.4 31 4 7.3 +0.4
DWM WisdomTree DEFA Fund 64.8 48 -13 7.6 +0.7
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 64.3 35 0 7.9 +1.0
DBAW Xtrackers MSCI All World ex-US Hedged 63.9 40 -5 7.3 +0.4
FNDF Schwab Fundamental Intl Large Cap 63.8 25 10 7.5 +0.6
QEFA SPDR MSCI EAFE Quality Mix 63.4 30 5 6.6 -0.3
GSIE Goldman Sachs ActiveBeta Int'l Equity 62.0 25 10 6.5 -0.4
VEU Vanguard FTSE All-World ex-US 61.5 9 26 7.5 +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

  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

Content on this tab for subscribers only

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

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.7 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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