Reality Shares DIVCON Dividend Defender ETF
ALTAR
Score™
4.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
20.3x P/Sales
ratio
2.5x
P/BV
ratio
6.0x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Reality Shares DIVCON Dividend Defender ETF tracks an index of dividend-paying US large-cap stocks that are likely to increase dividends, while shorting those that are unlikely to do so. At rebalance, the fund is 75% long, 25% short.

FUND BASICS
Category US Equities
Fund Sponsor Reality Shares
Website www.realityshares.com
Inception date Jan 14, 2016
Assets (mns) $13
Currency USD
Expense ratio 121 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 59
Wgt avg mkt cap (mns) $54,844
Large cap (>$10bn) 88.0%
Mid cap ($2-10bn) 12.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DOMINO'S PIZZA INC 1.6 %
ELI LILLY & CO 1.5 %
MSCI INC-A 1.4 %
ACTIVISION BLIZZARD INC 1.4 %
FACTSET RESEARCH SYSTEMS INC 1.4 %
MICROSOFT CORP 1.4 %
WEST PHARMACEUTICAL SERVICES 1.3 %
BAXTER INTERNATIONAL INC 1.3 %
ROLLINS INC 1.3 %
BOOZ ALLEN HAMILTON HOLDINGS 1.3 %
Total 14.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 65.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
0.0% 11.8% -- -- 6.6%

Market Correlations
versus... Beta R-squared
S&P500 0.45 76%
MSCI EAFE 0.37 47%
MSCI Emg. Mkts. 0.26 33%

Technical Indicators
Recent close $31.40
30d moving avg. $31.59
Annualized volatility 6.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.5%
Bid/Ask (% of price) 0.70%
ADV underlying (mns) $45,540

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Reality Shares DIVCON Dividend Defender ETF ETF based on the alternatives' overlap in portfolio holdings with DFND. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DFND Expense: 121 bp ALTAR Score™: 4.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DFND
Ticker Fund
Name
Overlap1
vs DFND
(%)
Expense
ratio
(bp)
Savings
vs DFND
(bp)
ALTAR
Score™
(%)
ALTAR
vs DFND
(%)
GARD Reality Shares DIVCON Dividend Guard ETF 65.0 129 -8 4.7 +0.0
DFND Reality Shares DIVCON Dividend Defender ETF 65.0 121 0 4.7 0.0
PSET Principal Price Setters Index ETF 34.5 29 92 6.7 +2.0
VSDA VictoryShares Dividend Accelerator ETF 23.8 35 86 5.6 +0.9
TTAC TrimTabs Float Shrink ETF 21.8 59 62 5.0 +0.3
KLCD KFA Large Cap Quality Dividend Index ETF 21.8 41 80 6.3 +1.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 21.7 15 106 6.7 +2.0
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 21.5 29 92 5.4 +0.7
PWB Invesco Dynamic Large Cap Growth ETF 21.5 55 66 4.3 -0.4
FLQL Franklin LibertyQ U.S. Equity ETF 21.5 15 106 7.7 +3.1
FTCS First Trust Capital Strength ETF 20.6 60 61 5.9 +1.3
JQUA JPMorgan U.S. Quality Factor ETF 20.0 12 109 6.4 +1.7
QUAL iShares MSCI Usa Quality Factor ETF 19.9 15 106 6.6 +2.0
FDMO Fidelity Momentum Factor ETF 19.4 29 92 5.2 +0.6
JMOM JPMorgan U.S. Momentum Factor ETF 18.9 12 109 4.9 +0.2
FQAL Fidelity Quality Factor ETF 18.7 29 92 6.8 +2.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 18.5 75 46 4.7 +0.1
SPHQ Invesco S&P 500 Quality ETF 18.3 15 106 6.2 +1.5
KRMA Global X Conscious Companies ETF 18.2 43 78 7.0 +2.4
RNLC Large Cap US Equity Select ETF 18.0 60 61 7.7 +3.0
FTC First Trust Large Cap Growth AlphaDEX Fund 18.0 61 60 4.1 -0.6
RPG Invesco S&P 500 Pure Growth ETF 17.9 35 86 6.1 +1.5
DGRW WisdomTree U.S. Quality Dividend Growth Fund 17.8 28 93 8.0 +3.3
DSTL Distillate US Fundamental Stability & Value ETF 17.6 39 82 7.3 +2.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 17.3 19 102 7.3 +2.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 17.2 9 112 7.0 +2.3
QUS SPDR MSCI USA StrategicFactors ETF 17.2 15 106 7.0 +2.3
ESGU iShares MSCI USA ESG Optimized ETF 17.1 15 106 6.4 +1.7
QLC FlexShares US Quality Large Cap Index Fund 17.1 32 89 7.1 +2.5
VONG Vanguard Russell 1000 Growth Index Fund 17.0 8 113 5.5 +0.8
IWF iShares Russell 1000 Growth ETF 17.0 19 102 5.4 +0.7
JKE iShares Morningstar Large-Cap Growth ETF 17.0 25 96 4.4 -0.2
FDLO Fidelity Low Volatility Factor ETF 17.0 29 92 6.2 +1.6
HECO EcoLogical Strategy ETF 16.9 107 14 4.3 -0.4
DEF Invesco Defensive Equity ETF 16.8 55 66 6.1 +1.4
IWY iShares Russell Top 200 Growth ETF 16.7 20 101 5.3 +0.6
FLLV Franklin Liberty U.S. Low Volatility ETF 16.4 29 92 6.8 +2.1
QDEF FlexShares Quality Dividend Defensive Index Fund 15.9 37 84 7.6 +3.0
HSPX Global X S&P 500 Covered Call ETF 15.8 65 56 6.1 +1.5
QDF FlexShares Quality Dividend Index Fund 15.8 37 84 8.5 +3.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 15.7 30 91 7.6 +2.9
VOOG Vanguard S&P 500 Growth ETF 15.7 10 111 5.5 +0.8
SPYG SPDR Portfolio S&P 500 Growth ETF 15.7 4 117 5.5 +0.9
IVW iShares S&P 500 Growth ETF 15.7 18 103 5.4 +0.7
FVL First Trust Value Line 100 Exchange-Traded Fund 15.7 70 51 5.3 +0.7
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 15.7 75 46 3.8 -0.8
IUSG iShares Core S&P US Growth ETF 15.7 4 117 5.7 +1.0
PBP Invesco S&P 500 BuyWrite ETF 15.5 49 72 6.5 +1.8
XOUT GraniteShares XOUT U.S. Large Cap ETF 15.5 60 61 5.7 +1.0
PDP Invesco DWA Momentum ETF 15.5 62 59 4.1 -0.5
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 15.4 30 91 8.1 +3.4
FCPI Fidelity Stocks for Inflation ETF 15.3 29 92 8.8 +4.1
AFLG First Trust Active Factor Large Cap ETF 15.3 55 66 7.8 +3.1
VIG Vanguard Dividend Appreciation Index Fund 15.3 6 115 6.1 +1.4
RFDA RiverFront Dynamic US Dividend Advantage ETF 15.2 52 69 7.5 +2.8
SPXN ProShares S&P 500 Ex-Financials ETF 15.2 27 94 6.4 +1.7
SUSL iShares ESG MSCI USA Leaders ETF 15.2 10 111 6.7 +2.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 15.1 10 111 6.7 +2.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 15.1 49 72 7.1 +2.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 15.0 20 101 6.8 +2.1
SPXE ProShares S&P 500 Ex-Energy ETF 15.0 27 94 6.7 +2.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 15.0 20 101 6.4 +1.7
MGC Vanguard Mega Cap Index Fund 14.9 7 114 6.6 +1.9
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 14.9 25 96 7.2 +2.6
EXT WisdomTree U.S. Total Earnings Fund 14.9 28 93 7.3 +2.6
NULG Nuveen ESG Large-Cap Growth ETF 14.8 35 86 4.5 -0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 14.8 12 109 6.4 +1.8
ACIO Aptus Collared Income Opportunity ETF 14.7 79 42 6.3 +1.6
SPY SPDR S&P 500 ETF Trust 14.7 9 112 6.8 +2.1
IVV iShares Core S&P 500 ETF 14.7 4 117 6.8 +2.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 14.7 29 92 7.8 +3.2
VOO VANGUARD S&P 500 ETF 14.7 3 118 6.8 +2.2
SPLG SPDR Portfolio Large Cap ETF 14.7 3 118 6.9 +2.2
IWL iShares Russell Top 200 ETF 14.7 15 106 6.4 +1.7
USMV iShares Edge MSCI Min Vol USA ETF 14.6 15 106 6.5 +1.8
VV Vanguard Large-Cap Index Fund 14.6 4 117 6.7 +2.0
PBUS Invesco PureBeta MSCI USA ETF 14.5 4 117 6.8 +2.1
EQWL Invesco Russell Top 200 Equal Weight ETF 14.5 25 96 7.3 +2.7
VUG Vanguard Growth Index Fund 14.5 4 117 5.3 +0.6
MTUM iShares Edge MSCI USA Momentum Factor ETF 14.5 15 106 5.3 +0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 14.3 2 119 6.8 +2.1
AIEQ AI Powered Equity ETF 14.2 87 34 5.0 +0.3
DGRO iShares Core Dividend Growth ETF 14.2 8 113 8.1 +3.4
SCHX Schwab U.S. Large-Cap ETF 14.1 3 118 6.7 +2.1
LRGF iShares Edge MSCI Multifactor USA ETF 14.1 20 101 8.6 +3.9
JHML John Hancock Multifactor Large Cap ETF 14.1 34 87 7.1 +2.4
MGK Vanguard Mega Cap Growth ETF 14.0 7 114 5.4 +0.7
VONE Vanguard Russell 1000 ETF 14.0 8 113 6.7 +2.1
SPTM SPDR Portfolio Total Stock Market ETF 14.0 3 118 7.0 +2.3
IWB iShares Russell 1000 ETF 14.0 15 106 6.7 +2.0
QGRO American Century STOXX U.S. Quality Growth ETF 14.0 29 92 4.3 -0.4
EPS WisdomTree U.S. Earnings 500 Fund 13.9 8 113 8.1 +3.5
SCIU Global X Scientific Beta US ETF 13.8 19 102 7.1 +2.5
RECS Columbia Research Enhanced Core ETF 13.8 15 106 7.2 +2.5
SCHK Schwab 1000 Index ETF 13.8 5 116 6.7 +2.1
LGLV SPDR Russell 1000 Low Volatility ETF 13.8 12 109 6.6 +1.9
SFY SoFi Select 500 ETF 13.7 0 121 6.4 +1.8
IYY iShares Dow Jones U.S. ETF 13.7 20 101 6.6 +2.0
AVUS Avantis U.S. Equity ETF 13.7 15 106 7.6 +3.0
JHMI John Hancock Multifactor Industrials ETF 13.7 40 81 8.1 +3.5

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

  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:
Reality Shares DIVCON Dividend Defender 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 33.7 %
Divided by: Fwd. P/BV 5.7 x
Less: Expense ratio 121 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.52
 
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.