Xtrackers MSCI Germany Hedged
ALTAR
Score™
7.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
16.0x P/Sales
ratio
0.9x
P/BV
ratio
1.6x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI Germany Hedged Equity Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the MSCI Germany USD Hedged Index. The Fund was previously called the The Xtrackers MSCI Canada Hedged ETF until a ticker, name and strategy change effective 5/31/13.

FUND BASICS
Category International Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Jun 09, 2011
Assets (mns) $19
Currency USD
Expense ratio 45 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 60
Wgt avg mkt cap (mns) $64,487
Large cap (>$10bn) 92.9%
Mid cap ($2-10bn) 6.6%
Small cap (<$2bn) 0.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SAP AG 10.2 %
ALLIANZ SE-REG 7.7 %
SIEMENS AG-REG 7.4 %
BAYER AG 5.8 %
BASF SE 4.9 %
ADIDAS AG 4.7 %
DEUTSCHE TELEKOM AG 4.0 %
DAIMLER AG-REGISTERED SHARES 3.5 %
MUENCHENER RUECKVER AG-REG 3.2 %
DEUTSCHE POST AG-REG 2.8 %
Total 54.3 %

TOP COUNTRY EXPOSURE
GERMANY 95.2 %
NETHERLANDS 0.6 %
LUXEMBOURG 0.6 %








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.
25.3% 25.3% 7.1% -- 7.8%

Market Correlations
versus... Beta R-squared
S&P500 0.75 57%
MSCI EAFE 0.90 67%
MSCI Emg. Mkts. 0.50 36%

Technical Indicators
Recent close $29.32
30d moving avg. $28.80
Annualized volatility 12.1%
Short interest (ETF) 0.2%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $3,632

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DBGR Expense: 45 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DBGR
Ticker Fund
Name
Overlap1
vs DBGR
(%)
Expense
ratio
(bp)
Savings
vs DBGR
(bp)
ALTAR
Score™
(%)
ALTAR
vs DBGR
(%)
EWG iShares MSCI Germany 95.8 47 -2 7.5 -0.0
FLGR Franklin FTSE Germany 93.8 9 36 7.8 +0.2
QDEU SPDR MSCI Germany Quality Mix 90.2 14 31 8.1 +0.5
DAX Global X DAX Germany 81.7 20 25 8.6 +1.0
DXGE WisdomTree Germany Hedged Equity 64.1 48 -3 9.1 +1.6
FEZ SPDR DJ Euro Stoxx 50 28.1 29 16 6.7 -0.8
FGM First Trust Germany 28.0 80 -35 8.5 +1.0
EZU iShares MSCI Euro Monetary Union 26.5 47 -2 6.5 -1.1
EURZ Xtrackers Eurozone Equity 25.9 9 36 6.8 -0.8
HEDJ Wisdomtree International Hedged Equity 24.1 58 -13 7.5 -0.1
DBEZ Xtrackers MSCI EMU Hedged 23.2 45 0 6.2 -1.3
FEUZ First Trust Eurozone AlphaDex 15.6 80 -35 7.0 -0.6
IDRV iShares Self-driving EV & Tech 13.7 47 -2 8.2 +0.6
DBEU Xtrackers Europe Hedged 13.2 45 0 6.1 -1.4
IEV iShares S&P Europe 350 13.2 59 -14 6.1 -1.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 13.0 30 15 6.4 -1.2
FLEE Franklin FTSE Europe 12.9 9 36 6.6 -1.0
FLEH Franklin FTSE Europe Hedged 12.7 9 36 6.6 -1.0
EUFN iShares MSCI Europe Financial Sector 12.6 48 -3 8.7 +1.1
GSEU Goldman Sachs ActiveBeta Europe Equity 12.4 25 20 6.1 -1.5

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

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

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.9 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 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.