Xtrackers MSCI Europe Hedged Equity ETF
ALTAR
Score™
6.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
14.1x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
3.8%


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

FUND BASICS
Category International Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Oct 01, 2013
Assets (mns) $643
Currency USD
Expense ratio 45 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 441
Wgt avg mkt cap (mns) $79,923
Large cap (>$10bn) 91.0%
Mid cap ($2-10bn) 8.1%
Small cap (<$2bn) 0.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 3.4 %
ROCHE HOLDING AG-GENUSSCHEIN 2.6 %
NOVARTIS AG-REG 2.2 %
HSBC HOLDINGS PLC 1.5 %
SAP AG 1.4 %
ASML HOLDING NV 1.4 %
ASTRAZENECA PLC 1.4 %
LVMH MOET HENNESSY LOUIS VUI 1.3 %
BP PLC 1.2 %
TOTAL SA 1.2 %
Total 17.5 %

TOP COUNTRY EXPOSURE
BRITAIN 23.8 %
FRANCE 15.8 %
SWITZERLAND 15.6 %
GERMANY 13.0 %
NETHERLANDS 6.9 %
SPAIN 4.3 %
SWEDEN 3.9 %
ITALY 3.3 %
DENMARK 3.0 %
FINLAND 1.5 %

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.
-2.0% 17.5% 7.3% -- 7.4%

Market Correlations
versus... Beta R-squared
S&P500 0.65 63%
MSCI EAFE 0.79 77%
MSCI Emg. Mkts. 0.47 47%

Technical Indicators
Recent close $29.65
30d moving avg. $31.43
Annualized volatility 9.9%
Short interest (ETF) 3.3%
Relative strength (RSI) 39

Liquidity measures
Avg. volume (thou.) 354
Turnover 1.6%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $23,135

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DBEU Expense: 45 bp ALTAR Score™: 6.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DBEU
Ticker Fund
Name
Overlap1
vs DBEU
(%)
Expense
ratio
(bp)
Savings
vs DBEU
(bp)
ALTAR
Score™
(%)
ALTAR
vs DBEU
(%)
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 92.3 30 15 6.9 +0.2
FLEE Franklin FTSE Europe ETF 92.0 9 36 7.2 +0.5
BBEU JPMorgan BetaBuilders Europe ETF 91.2 9 36 7.2 +0.5
IEV iShares Europe ETF 90.8 59 -14 6.7 +0.1
FLEH Franklin FTSE Europe Hedged ETF 90.3 9 36 7.0 +0.4
IEUR iShares Core MSCI Europe ETF 85.8 9 36 7.2 +0.5
VGK Vanguard FTSE Europe ETF 84.1 8 37 7.3 +0.6
FEU SPDR Portfolio Europe ETF 82.1 9 36 7.2 +0.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 72.8 25 20 6.7 +0.1
EFA iShares MSCI EAFE ETF 62.9 32 13 7.2 +0.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 62.4 20 25 7.2 +0.5
IQSI IQ Candriam ESG International Equity ETF 61.8 15 30 7.2 +0.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 60.1 35 10 7.0 +0.4
HFXI IQ 50 Percent Hedged FTSE International ETF 57.2 20 25 7.5 +0.9
ESGD iShares MSCI EAFE ESG Optimized ETF 57.1 20 25 7.2 +0.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 55.9 7 38 7.8 +1.1
DOL WisdomTree International LargeCap Dividend Fund 55.5 48 -3 8.2 +1.6
IEFA iShares Core MSCI EAFE ETF 53.6 7 38 7.4 +0.7
QEFA SPDR MSCI EAFE Quality Mix ETF 53.5 30 15 6.9 +0.2

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

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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 Europe 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 11.2 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 6.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.64
 
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.