AAM S&P Developed Markets High Dividend Value
ALTAR
Score™
10.2% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.3x P/Sales
ratio
0.7x
P/BV
ratio
1.0x Div.
yield
5.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
DMDV tracks an equal-weighted index of developed-market international large- and midcap stocks that score highly for both dividend yield and free cash flow.

FUND BASICS
Category International Equities
Fund Sponsor Advisors Asset Management
Website www.aamlive.com
Inception date Nov 27, 2018
Assets (mns) $3
Currency USD
Expense ratio 39 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 55
Wgt avg mkt cap (mns) $28,759
Large cap (>$10bn) 48.4%
Mid cap ($2-10bn) 51.6%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PERSIMMON PLC 2.2 %
VODAFONE GROUP PLC 2.2 %
TAKEDA PHARMACEUTICAL CO LTD 2.1 %
BAYER AG 2.1 %
SUMCO CORP 2.1 %
MITSUBISHI CHEMICAL HOLDINGS 2.1 %
CREDIT AGRICOLE SA 2.0 %
FIAT CHRYSLER AUTOMOBILES NV 2.0 %
INTESA SANPAOLO S.P.A. 2.0 %
POWER FINANCIAL CORP 2.0 %
Total 20.8 %

TOP COUNTRY EXPOSURE
JAPAN 24.3 %
BRITAIN 23.3 %
GERMANY 7.6 %
ITALY 7.5 %
AUSTRALIA 7.0 %
FRANCE 5.4 %
DENMARK 5.1 %
SWITZERLAND 3.6 %
SWEDEN 3.6 %
NORWAY 3.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.0% -- -- -- 0.0%

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

Technical Indicators
Recent close $25.59
30d moving avg. $25.31
Annualized volatility 0.0%
Short interest (ETF) 0.2%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.40%
ADV underlying (mns) $3,401

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the AAM S&P Developed Markets High Dividend Value ETF based on the alternatives' overlap in portfolio holdings with DMDV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DMDV Expense: 39 bp ALTAR Score™: 10.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DMDV
Ticker Fund
Name
Overlap1
vs DMDV
(%)
Expense
ratio
(bp)
Savings
vs DMDV
(bp)
ALTAR
Score™
(%)
ALTAR
vs DMDV
(%)
FIDI Fidelity International High Dividend 23.0 39 0 10.2 -0.0
CID Victory CEMP International High Div Volatility Wtd 20.8 45 -6 9.0 -1.3
DOO WisdomTree Int'l Dividend Ex-Financials 18.9 58 -19 8.1 -2.1
IDOG ALPS International Sector Dividend Dogs 18.2 50 -11 7.5 -2.8
FIVA Fidelity International Value Factor 17.1 39 0 9.5 -0.8
DTH WisdomTree DEFA Equity Income 16.5 58 -19 8.6 -1.6
LVHI Legg Mason International Low Volatility High Dividend 15.2 40 -1 9.2 -1.1
EFV iShares MSCI EAFE Value 14.5 38 1 9.1 -1.2
IVLU iShares MSCI Int'l Developed Value Factor 14.4 30 9 10.5 +0.2
IDHD Invesco S&P Intl Developed High Div Low Volatility 13.9 30 9 6.5 -3.8
IDY Pacific Global International Equity Income 13.5 39 0 8.2 -2.0
DOL WisdomTree Int'l Large Cap Dividend 13.3 48 -9 7.8 -2.5
ICOW Pacer Developed Markets Int'l Cash Cows 100 12.9 65 -26 9.6 -0.7
ESGN Columbia Sustainable International Equity Income 12.8 45 -6 9.9 -0.4
GCOW Pacer Global Cash Cows Dividend 12.7 60 -21 9.9 -0.3
EFAS Global X MSCI SuperDividend EAFE 12.6 55 -16 8.5 -1.7
IQDF FlexShares Int'l Quality Dividend 12.4 47 -8 9.6 -0.7
RIDV Invesco International Ultra Dividend Revenue ETF 12.3 42 -3 9.1 -1.1
OEUR O'Shares FTSE Europe Quality Dividend 12.0 48 -9 6.4 -3.9
FID First Trust S&P International Dividend Aristocrats 11.7 60 -21 7.3 -3.0

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:
AAM S&P Developed Markets High Dividend Value
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.6 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 10.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 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.