ProShares EAFE Dividend Growers
ALTAR
Score™
6.4% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
18.1x P/Sales
ratio
1.5x
P/BV
ratio
2.2x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ProShares MSCI EAFE Dividend Growers ETF is an exchange-traded fund incorporated in the USA. The ETF seeks investment results, before fees and expenses, that track the perfomance of the MSCI EAFE Dividend Masters Index.

FUND BASICS
Category International Equities
Fund Sponsor ProShares ETFs/USA
Website www.proshares.com
Inception date Aug 19, 2014
Assets (mns) $131
Currency USD
Expense ratio 50 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 87
Wgt avg mkt cap (mns) $32,828
Large cap (>$10bn) 60.9%
Mid cap ($2-10bn) 39.1%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HALMA PLC 1.3 %
RYMAN HEALTHCARE LTD 1.3 %
JD SPORTS FASHION PLC 1.2 %
PADDY POWER PLC 1.2 %
MICRO FOCUS INTERNATIONAL PLC 1.2 %
SARTORIUS STEDIM BIOTECH SA 1.2 %
SPIRAX-SARCO ENGINEERING PLC 1.2 %
PARTNERS GROUP HOLDING AG 1.2 %
HEXAGON AB-B SHS 1.2 %
BUNZL PLC 1.2 %
Total 12.2 %

TOP COUNTRY EXPOSURE
BRITAIN 24.4 %
JAPAN 18.0 %
FRANCE 9.0 %
AUSTRALIA 7.9 %
SWITZERLAND 6.9 %
HONG KONG 5.6 %
IRELAND 3.5 %
DENMARK 3.4 %
GERMANY 3.4 %
BELGIUM 2.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.2% 14.1% 3.2% -- 1.9%

Market Correlations
versus... Beta R-squared
S&P500 0.69 66%
MSCI EAFE 0.87 88%
MSCI Emg. Mkts. 0.58 63%

Technical Indicators
Recent close $39.94
30d moving avg. $39.32
Annualized volatility 10.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.2%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $6,019

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ProShares EAFE Dividend Growers ETF based on the alternatives' overlap in portfolio holdings with EFAD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EFAD Expense: 50 bp ALTAR Score™: 6.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EFAD
Ticker Fund
Name
Overlap1
vs EFAD
(%)
Expense
ratio
(bp)
Savings
vs EFAD
(bp)
ALTAR
Score™
(%)
ALTAR
vs EFAD
(%)
EUDV ProShares MSCI Europe Dividend Growers 60.7 55 -5 6.8 +0.4
EUMV iShares MSCI Europe Min Volatility 21.8 25 25 5.1 -1.3
EFAV iShares MSCI EAFE Minimum Volatility 18.9 20 30 5.7 -0.7
VIGI Vanguard Int'l Dividend Appreciation 18.5 25 25 5.9 -0.5
QEFA SPDR MSCI EAFE Quality Mix 18.0 30 20 6.5 +0.1
PIZ Invesco DWA Dev. Mkts. Technical Leaders 17.8 80 -30 4.1 -2.4
FDEV Fidelity Targeted International Factor 17.3 39 11 6.8 +0.4
GSEU Goldman Sachs ActiveBeta Europe Equity 16.9 25 25 6.2 -0.2
IQLT iShares MSCI Int'l Developed Quality 16.5 30 20 6.0 -0.4
EFG iShares MSCI EAFE Growth 16.4 40 10 4.9 -1.5
DBEU Xtrackers Europe Hedged 16.2 45 5 6.4 -0.0
IEV iShares S&P Europe 350 16.2 59 -9 6.2 -0.2
IGRO iShares International Dividend Growth 16.2 22 28 7.8 +1.4
FLEH Franklin FTSE Europe Hedged 15.9 9 41 7.2 +0.8
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 15.9 30 20 6.6 +0.1
FLEE Franklin FTSE Europe 15.8 9 41 6.8 +0.4
BBEU JPMorgan BetaBuilders Europe 15.8 9 41 6.7 +0.3
IEUR iShares Core MSCI Europe 14.7 9 41 6.7 +0.3
VGK Vanguard FTSE Europe 14.7 9 41 6.7 +0.3
IMTM iShares MSCI Int'l Developed Momentum 14.5 30 20 5.2 -1.3

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:
ProShares EAFE Dividend Growers
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 13.9 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.73 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.