Xtrackers MSCI Eurozone Hedged Equity ETF
ALTAR
Score™
6.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
13.6x P/Sales
ratio
1.0x
P/BV
ratio
1.4x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI EMU Hedged Equity ETF is an exchange-traded fund incorporated in the USA. The Fund uses a passive strategy to track the MSCI EMU IMI USD Index. The Index is designed to provide exposure to the countries in the European Monetary Union, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and the local currencies.

FUND BASICS
Category International Equities
Fund Sponsor Deutsche Bank AG
Website www.etfus.deutscheawm.com
Inception date Dec 10, 2014
Assets (mns) $23
Currency USD
Expense ratio 45 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 680
Wgt avg mkt cap (mns) $54,175
Large cap (>$10bn) 83.4%
Mid cap ($2-10bn) 13.3%
Small cap (<$2bn) 2.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SAP AG 2.4 %
ASML HOLDING NV 2.4 %
LVMH MOET HENNESSY LOUIS VUI 2.2 %
TOTAL SA 2.1 %
SANOFI-AVENTIS 2.1 %
ALLIANZ SE-REG 1.9 %
SIEMENS AG-REG 1.6 %
UNILEVER NV 1.6 %
EADS NV 1.5 %
BAYER AG 1.4 %
Total 19.1 %

TOP COUNTRY EXPOSURE
FRANCE 28.8 %
GERMANY 24.8 %
NETHERLANDS 13.2 %
SPAIN 8.2 %
ITALY 7.1 %
BELGIUM 3.4 %
FINLAND 3.1 %
IRELAND 1.8 %
AUSTRIA 0.9 %
LUXEMBOURG 0.8 %

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.
-2.2% 18.8% -- -- 5.5%

Market Correlations
versus... Beta R-squared
S&P500 0.74 61%
MSCI EAFE 0.92 78%
MSCI Emg. Mkts. 0.55 48%

Technical Indicators
Recent close $30.79
30d moving avg. $33.68
Annualized volatility 11.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.7%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $16,215

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DBEZ Expense: 45 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DBEZ
Ticker Fund
Name
Overlap1
vs DBEZ
(%)
Expense
ratio
(bp)
Savings
vs DBEZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs DBEZ
(%)
EZU iShares MSCI Eurozone ETF 85.0 49 -4 7.0 +0.2
EURZ Xtrackers Eurozone Equity ETF 84.2 9 36 7.3 +0.6
FEZ SPDR EURO STOXX 50 ETF 50.6 29 16 7.5 +0.7
DBEU Xtrackers MSCI Europe Hedged Equity ETF 49.0 45 0 7.0 +0.2
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 48.9 30 15 7.1 +0.4
FLEE Franklin FTSE Europe ETF 48.6 9 36 7.3 +0.6
IEV iShares Europe ETF 48.5 59 -14 7.1 +0.4
IEUR iShares Core MSCI Europe ETF 48.3 9 36 7.6 +0.8
FLEH Franklin FTSE Europe Hedged ETF 47.5 9 36 7.3 +0.5
BBEU JPMorgan BetaBuilders Europe ETF 47.0 9 36 7.6 +0.8
VGK Vanguard FTSE Europe ETF 46.7 8 37 7.7 +0.9
FEU SPDR Portfolio Europe ETF 46.2 9 36 7.6 +0.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 43.3 25 20 7.0 +0.2
HEDJ WisdomTree Europe Hedged Equity Fund 43.1 58 -13 8.1 +1.3
SCID Global X Scientific Beta Europe ETF 35.0 38 7 7.0 +0.3
JPEU JPMorgan Diversified Return Europe Equity ETF 33.8 37 8 7.4 +0.6
DOL WisdomTree International LargeCap Dividend Fund 33.3 48 -3 9.0 +2.2
EFV iShares MSCI EAFE Value ETF 32.5 39 6 9.9 +3.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 32.3 20 25 7.5 +0.7
IMTM iShares Edge MSCI Intl Momentum Factor ETF 32.2 30 15 5.0 -1.7

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 Eurozone 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 10.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.