Xtrackers MSCI Europe Hedged Equity ETF
ALTAR
Score™		 6.7% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 20.3x P/Sales
ratio		 1.3x
P/BV
ratio		 1.6x Div.
yield		 3.1%


  • 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) $514
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 440
Wgt avg mkt cap (mns) $73,422
Large cap (>$10bn) 88.2%
Mid cap ($2-10bn) 11.1%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 4.0 %
ROCHE HOLDING AG-GENUSSCHEIN 3.0 %
NOVARTIS AG-REG 2.3 %
ASTRAZENECA PLC 1.7 %
ASML HOLDING NV 1.7 %
SAP AG 1.5 %
LVMH MOET HENNESSY LOUIS VUI 1.4 %
NOVO NORDISK A/S-B 1.4 %
SANOFI-AVENTIS 1.4 %
GLAXOSMITHKLINE PLC 1.3 %
Total 19.8 %

TOP COUNTRY EXPOSURE
BRITAIN 22.0 %
SWITZERLAND 16.6 %
FRANCE 15.6 %
GERMANY 13.5 %
NETHERLANDS 7.4 %
SWEDEN 4.2 %
SPAIN 3.7 %
DENMARK 3.6 %
ITALY 3.0 %
FINLAND 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.0% -1.6% 3.0% -- 5.1%

Market Correlations
versus... Beta R-squared
S&P500 0.76 79%
MSCI EAFE 0.87 88%
MSCI Emg. Mkts. 0.60 65%

Technical Indicators
Recent close $28.39
30d moving avg. $26.05
Annualized volatility 14.5%
Short interest (ETF) 0.7%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 120
Turnover 0.7%
Bid/Ask (% of price) 0.42%
ADV underlying (mns) $36,589

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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 92.5 30 15 6.8 +0.1
FLEE Franklin FTSE Europe ETF 91.0 9 36 7.0 +0.3
BBEU JPMorgan BetaBuilders Europe ETF 90.4 9 36 7.2 +0.6
IEV iShares Europe ETF 90.2 59 -14 6.8 +0.1
FLEH Franklin FTSE Europe Hedged ETF 90.1 9 36 7.1 +0.4
IEUR iShares Core MSCI Europe ETF 85.0 9 36 7.3 +0.6
FEU SPDR Portfolio Europe ETF 81.4 9 36 7.3 +0.6
VGK Vanguard FTSE Europe ETF 81.3 8 37 7.3 +0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 72.4 25 20 6.7 -0.0
EFA iShares MSCI EAFE ETF 60.1 32 13 7.1 +0.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 60.0 20 25 7.2 +0.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 59.7 35 10 7.0 +0.3
IQSI IQ Candriam ESG International Equity ETF 59.6 15 30 7.3 +0.6
HFXI IQ 50 Percent Hedged FTSE International ETF 55.4 20 25 7.5 +0.8
ESGD iShares MSCI EAFE ESG Optimized ETF 54.4 20 25 7.2 +0.5
EFG iShares MSCI EAFE Growth ETF 54.0 40 5 4.7 -2.0
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 53.3 7 38 7.6 +0.9
QEFA SPDR MSCI EAFE Quality Mix ETF 52.6 30 15 6.8 +0.1
IEFA iShares Core MSCI EAFE ETF 51.4 7 38 7.3 +0.6
DOL WisdomTree International LargeCap Dividend Fund 50.2 48 -3 8.5 +1.8
JHMD John Hancock Multifactor Developed International ETF 50.0 45 0 7.4 +0.7
SCHF Schwab International Equity ETF 49.3 6 39 7.4 +0.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 49.2 45 0 8.8 +2.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 48.5 45 0 6.7 +0.0
EZU iShares MSCI Eurozone ETF 48.0 49 -4 6.7 +0.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 47.7 14 31 7.0 +0.3
IDEV iShares Core MSCI International Developed Markets ETF 47.3 5 40 7.2 +0.5
DWM WisdomTree International Equity Fund 46.7 48 -3 8.2 +1.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 46.7 35 10 8.5 +1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 46.3 25 20 6.8 +0.1
EURZ Xtrackers Eurozone Equity ETF 45.8 9 36 7.0 +0.3
FNDF Schwab Fundamental International Large Co. Index ETF 45.4 25 20 8.6 +1.9
JPEU JPMorgan Diversified Return Europe Equity ETF 44.8 37 8 6.8 +0.1
SPDW SPDR Portfolio Developed World ex-US ETF 44.6 4 41 7.2 +0.5
OEUR O'shares FTSE Europe Quality Dividend ETF 43.9 48 -3 6.6 -0.1
EFV iShares MSCI EAFE Value ETF 43.5 39 6 10.0 +3.3
SCID Global X Scientific Beta Europe ETF 43.4 38 7 6.9 +0.2
RFEU First Trust Riverfront Dynamic Europe ETF 43.3 83 -38 4.9 -1.8
IQLT iShares Edge MSCI Intl Quality Factor ETF 42.8 30 15 6.2 -0.5
VEA Vanguard FTSE Developed Markets ETF 42.8 5 40 7.4 +0.7
VYMI Vanguard International High Dividend Yield ETF 42.5 32 13 10.1 +3.4
EUMV iShares Edge MSCI Min Vol Europe ETF 42.5 25 20 5.5 -1.2
PDEV Principal International Multi-Factor Core Index ETF 42.4 25 20 7.8 +1.2
IDY Pacific Global International Equity Income ETF 40.1 39 6 8.0 +1.3
CWI SPDR MSCI ACWI ex-US ETF 39.9 30 15 7.6 +0.9
ACWX iShares MSCI ACWI ex U.S. ETF 39.7 32 13 7.5 +0.8
ISDX Invesco Strategic Developed ex-US ETF 39.5 23 22 7.4 +0.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 39.2 40 5 7.3 +0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 39.1 39 6 6.6 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 38.0 16 29 7.1 +0.4
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 37.0 48 -3 0.0 -6.7
IQIN IQ 500 International ETF 36.9 25 20 8.9 +2.2
IMTM iShares Edge MSCI Intl Momentum Factor ETF 36.3 30 15 5.0 -1.7
VEU Vanguard FTSE All-World ex-US Index Fund 36.3 8 37 7.7 +1.0
CIL VictoryShares International Volatility Weighted Index ETF 35.2 45 0 6.7 -0.0
RFDI First Trust Riverfront Dynamic Developed International ETF 34.7 83 -38 6.3 -0.4
IXUS ishares Core MSCI Total International Stock ETF 34.7 9 36 7.5 +0.8
ISZE iShares Edge MSCI Intl Size Factor ETF 33.3 30 15 6.9 +0.2
VXUS Vanguard Total International Stock Index Fund 32.9 8 37 7.7 +1.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 32.1 39 6 9.1 +2.4
RNDM Developed International Equity Select ETF 31.7 65 -20 6.4 -0.3
IGRO iShares International Dividend Growth ETF 30.2 22 23 7.9 +1.3
VSGX Vanguard ESG International Stock ETF 29.9 17 28 7.3 +0.7
EUDG WisdomTree Europe Quality Dividend Growth Fund 29.5 58 -13 6.1 -0.6
DTH WisdomTree DEFA Equity Income Fund 29.5 58 -13 9.5 +2.8
NUDM Nuveen ESG International Developed Markets Equity ETF 28.7 40 5 6.9 +0.2
FDEV Fidelity Targeted International Factor ETF 28.7 39 6 6.5 -0.2
IDHQ Invesco S&P International Developed High Quality ETF 28.6 29 16 5.4 -1.3
IDMO Invesco S&P International Developed Momentum ETF 28.5 25 20 4.6 -2.1
FEZ SPDR EURO STOXX 50 ETF 28.4 29 16 7.1 +0.5
QINT American Century Quality Diversified International ETF 28.4 39 6 5.9 -0.8
EFAV iShares Edge MSCI Min Vol EAFE ETF 28.3 20 25 5.9 -0.8
FIVA Fidelity International Value Factor ETF 28.2 39 6 10.1 +3.4
TPIF Timothy Plan International ETF 27.1 62 -17 7.0 +0.3
VIGI Vanguard International Dividend Appreciation ETF 27.0 25 20 5.9 -0.8
PQIN PGIM QMA Strategic Alpha International Equity ETF 27.0 29 16 8.0 +1.3
RBIN Nationwide Risk-Based International Equity ETF 25.9 42 3 6.4 -0.3
IVLU iShares Edge MSCI Intl Value Factor ETF 25.7 30 15 11.2 +4.5
AVDE Avantis International Equity ETF 25.5 23 22 7.9 +1.2
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 25.3 24 21 7.2 +0.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 24.6 32 13 6.5 -0.2
IOO iShares Global 100 ETF 23.3 40 5 4.8 -1.9
DOO WisdomTree International Dividend ex-Financials Fund 23.2 58 -13 8.6 +1.9
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 22.7 45 0 6.9 +0.2
FLGB Franklin FTSE United Kingdom ETF 22.7 9 36 7.4 +0.7
JPIN JPMorgan Diversified Return International Equity ETF 22.7 38 7 7.9 +1.2
ESGG FlexShares STOXX Global ESG Impact Index Fund 22.6 42 3 5.6 -1.1
EWU iShares MSCI United Kingdom ETF 22.5 50 -5 6.9 +0.2
QGBR SPDR MSCI UK StrategicFactors ETF 22.2 14 31 7.5 +0.8
HEDJ WisdomTree Europe Hedged Equity Fund 21.9 58 -13 7.0 +0.3
UIVM VictoryShares USAA MSCI International Value Momentum ETF 21.6 35 10 8.6 +1.9
DDEZ WisdomTree Europe Multifactor Fund 20.6 43 2 7.2 +0.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 20.5 29 16 8.6 +1.9
TOK iShares MSCI Kokusai ETF 20.4 25 20 5.7 -1.0
FEP First Trust Europe AlphaDEX Fund 19.4 80 -35 7.9 +1.2
EUDV ProShares MSCI Europe Dividend Growers ETF 19.4 55 -10 6.8 +0.2
IDLB Invesco FTSE International Low Beta Equal Weight ETF 19.0 45 0 7.1 +0.4
DGT SPDR Global Dow ETF 19.0 50 -5 6.8 +0.1
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 18.9 61 -16 4.9 -1.8

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 10.9 %
Divided by: Fwd. P/BV 1.5 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		 1.58 CATEGORY
AVERAGE		 1.59
 
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.