Defiance Next Gen Food & Agriculture ETF
ALTAR
Score™
5.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.0x P/Sales
ratio
1.3x
P/BV
ratio
1.7x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
DIET tracks a global equity index of Food and Agriculture Sustainability companies selected based on revenues and weighted by a modified market cap.

FUND BASICS
Category Global Equities
Fund Sponsor Defiance ETFs
Website www.defianceetfs.com
Inception date Nov 13, 2019
Assets (mns) $2
Currency USD
Expense ratio 30 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 69
Wgt avg mkt cap (mns) $17,748
Large cap (>$10bn) 59.6%
Mid cap ($2-10bn) 31.9%
Small cap (<$2bn) 8.5%
Developed mkts 96.1%
Emerging mkts 3.9%

TOP TEN HOLDINGS
CORTEVA INC 5.9 %
GIVAUDAN-REG 5.5 %
MARINE HARVEST 4.6 %
NUTRIEN LTD. 4.3 %
KERRY GROUP PLC-A 3.5 %
INTL FLAVORS & FRAGRANCES 3.4 %
FMC CORP 3.3 %
SYMRISE AG 3.3 %
ZOETIS INC 3.0 %
ECOLAB INC 2.9 %
Total 39.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 49.5 %
NORWAY 8.5 %
CANADA 6.3 %
SWITZERLAND 6.2 %
DENMARK 4.7 %
IRELAND 3.5 %
GERMANY 3.3 %
FRANCE 2.1 %
CHILE 2.0 %
JAPAN 2.0 %

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.
-3.6% -- -- -- 1.4%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $23.87
30d moving avg. $25.99
Annualized volatility 0.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 2
Turnover 2.0%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $3,799

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Defiance Next Gen Food & Agriculture ETF ETF based on the alternatives' overlap in portfolio holdings with DIET. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DIET Expense: 30 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DIET
Ticker Fund
Name
Overlap1
vs DIET
(%)
Expense
ratio
(bp)
Savings
vs DIET
(bp)
ALTAR
Score™
(%)
ALTAR
vs DIET
(%)
VEGI iShares MSCI Global Agriculture Producers ETF 38.4 39 -9 6.1 +1.1
MOO VanEck Vectors Agribusiness ETF 35.2 54 -24 5.8 +0.8
FTAG First Trust Indxx Global Agriculture ETF 27.3 70 -40 6.6 +1.6
GUNR Flexshares Morningstar Global Upstream Natural Resources 19.5 46 -16 6.7 +1.7
RTM Invesco S&P 500 Equal Weight Materials ETF 17.5 40 -10 6.7 +1.7
SOIL Global X Fertilizers/Potash ETF 16.6 69 -39 5.4 +0.4
HAP VanEck Vectors Natural Resources ETF 16.5 50 -20 7.0 +2.0
NANR SPDR S&P North American Natural Resources ETF 15.7 35 -5 4.8 -0.2
IYM iShares U.S. Basic Materials ETF 14.7 42 -12 6.2 +1.2
XLB Materials Select Sector SPDR Fund 12.5 13 17 6.6 +1.6
VAW Vanguard Materials Index Fund 11.5 10 20 6.9 +1.9
FMAT Fidelity MSCI Materials Index ETF 11.5 8 22 6.9 +1.9
MXI iShares Global Materials ETF 11.3 46 -16 7.0 +2.0
PYZ Invesco DWA Basic Materials Momentum ETF 10.7 60 -30 5.7 +0.7
JHMA John Hancock Multifactor Materials ETF 10.6 40 -10 7.4 +2.4
NORW Global X MSCI Norway ETF 10.3 50 -20 11.2 +6.2
ENOR iShares MSCI Norway Capped ETF 10.3 53 -23 11.1 +6.1
FIW First Trust Water ETF 9.9 55 -25 3.7 -1.3
GNR SPDR S&P Global Natural Resources ETF 9.6 40 -10 7.5 +2.5
JHMS John Hancock Multifactor Consumer Staples ETF 9.5 40 -10 5.8 +0.8

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

Content on this tab for subscribers only

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:
Defiance Next Gen Food & Agriculture ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.8 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 CATEGORY
AVERAGE
1.56
 
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.