ProShares MSCI EAFE Dividend Growers ETF
ALTAR
Score™
6.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.8x P/Sales
ratio
1.5x
P/BV
ratio
2.0x Div.
yield
2.8%


  • 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) $118
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 63
Wgt avg mkt cap (mns) $32,637
Large cap (>$10bn) 65.0%
Mid cap ($2-10bn) 35.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SYSMEX CORP 1.9 %
WASHINGTON H. SOUL PATTINSON 1.8 %
ALFRESA HOLDINGS CORP 1.8 %
KURITA WATER INDUSTRIES LTD 1.7 %
KOITO MANUFACTURING CO LTD 1.7 %
KOBAYASHI PHARMACEUTICAL CO 1.7 %
NOVOZYMES A/S-B SHARES 1.7 %
AVEVA GROUP PLC 1.7 %
RINNAI CORP 1.7 %
DAITO TRUST CONSTRUCT CO LTD 1.7 %
Total 17.4 %

TOP COUNTRY EXPOSURE
JAPAN 28.0 %
BRITAIN 16.8 %
AUSTRALIA 10.9 %
SWITZERLAND 9.2 %
HONG KONG 7.7 %
DENMARK 6.5 %
FRANCE 3.0 %
BELGIUM 3.0 %
SPAIN 3.0 %
GERMANY 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.6% 7.8% 4.6% -- 2.0%

Market Correlations
versus... Beta R-squared
S&P500 0.76 81%
MSCI EAFE 0.91 95%
MSCI Emg. Mkts. 0.64 75%

Technical Indicators
Recent close $39.56
30d moving avg. $39.54
Annualized volatility 15.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.3%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $3,044

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 potential alternatives to the ProShares MSCI EAFE Dividend Growers ETF 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™: 6.2%


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 ETF 47.7 55 -5 5.8 -0.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 17.6 20 30 5.3 -0.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 16.0 80 -30 6.5 +0.3
QEFA SPDR MSCI EAFE Quality Mix ETF 15.2 30 20 6.7 +0.5
FDEV Fidelity Targeted International Factor ETF 14.9 39 11 6.5 +0.3
VIGI Vanguard International Dividend Appreciation ETF 14.4 20 30 5.6 -0.6
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 14.1 32 18 6.0 -0.2
IDY Pacific Global International Equity Income ETF 13.8 39 11 8.0 +1.8
PIZ Invesco DWA Developed Markets Momentum ETF 13.4 81 -31 4.6 -1.6
DWMF WisdomTree International Multifactor Fund 13.1 38 12 6.2 0.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 13.0 30 20 6.1 -0.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 12.8 25 25 6.5 +0.3
IEV iShares Europe ETF 12.7 59 -9 7.0 +0.8
BBEU JPMorgan BetaBuilders Europe ETF 12.5 9 41 7.5 +1.3
FLEE Franklin FTSE Europe ETF 12.4 9 41 7.1 +0.9
DBEU Xtrackers MSCI Europe Hedged Equity ETF 12.3 45 5 6.8 +0.6
RFEU First Trust Riverfront Dynamic Europe ETF 12.3 83 -33 5.9 -0.3
FLEH Franklin FTSE Europe Hedged ETF 12.1 9 41 7.2 +1.0
IGRO iShares International Dividend Growth ETF 12.0 22 28 8.4 +2.2
IDHQ Invesco S&P International Developed Quality ETF 12.0 29 21 5.0 -1.2
IQDF FlexShares International Quality Dividend Index Fund 12.0 47 3 9.1 +2.9
VGFO Virtus WMC Global Factor Opportunities ETF 11.8 49 1 8.0 +1.8
DOL WisdomTree International LargeCap Dividend Fund 11.8 48 2 8.7 +2.5
IEUR iShares Core MSCI Europe ETF 11.7 9 41 7.3 +1.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 11.6 20 30 7.0 +0.8
EFA iShares MSCI EAFE ETF 11.6 32 18 7.0 +0.8
VGK Vanguard FTSE Europe ETF 11.6 8 42 7.5 +1.3
JHMD John Hancock Multifactor Developed International ETF 11.6 39 11 7.3 +1.1
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 11.5 61 -11 5.2 -1.0
FIVA Fidelity International Value Factor ETF 11.5 39 11 10.0 +3.8
GSID Goldman Sachs MarketBeta International Equity ETF 11.5 20 30 7.3 +1.1
FEU SPDR Portfolio Europe ETF 11.4 9 41 7.4 +1.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 11.3 35 15 6.9 +0.7
BKIE BNY Mellon International Equity ETF 11.3 4 46 7.4 +1.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 11.2 25 25 6.7 +0.5
OEUR O'shares FTSE Europe Quality Dividend ETF 11.2 48 2 6.9 +0.7
DWM WisdomTree International Equity Fund 11.2 48 2 8.3 +2.1
EFG iShares MSCI EAFE Growth ETF 11.2 40 10 4.5 -1.7
HFXI IQ 50 Percent Hedged FTSE International ETF 11.1 20 30 7.4 +1.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 11.1 35 15 8.6 +2.4
ESGD iShares MSCI EAFE ESG Optimized ETF 10.9 20 30 6.9 +0.7
IQDE FlexShares International Quality Dividend Defensive Index Fd 10.9 47 3 9.2 +3.0
EUDG WisdomTree Europe Quality Dividend Growth Fund 10.8 58 -8 6.0 -0.2
RNDM Developed International Equity Select ETF 10.7 65 -15 6.1 -0.1
IDLV Invesco S&P International Developed Low Volatility ETF 10.7 25 25 6.3 +0.1
INTF iShares Edge MSCI Multifactor Intl ETF 10.7 30 20 7.9 +1.7
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 10.6 7 43 7.4 +1.3
MVIN Natixis Seeyond International Minimum Volatility ETF 10.6 56 -6 5.6 -0.6
FIDI Fidelity International High Dividend ETF 10.5 39 11 11.6 +5.4
IQSI IQ Candriam ESG International Equity ETF 10.4 15 35 7.4 +1.2
RFDI First Trust Riverfront Dynamic Developed International ETF 10.4 83 -33 5.7 -0.5
IQDG WisdomTree International Quality Dividend Growth Fund 10.4 42 8 6.3 +0.1
IEFA iShares Core MSCI EAFE ETF 10.3 7 43 7.3 +1.1
RBIN Nationwide Risk-Based International Equity ETF 10.3 42 8 6.1 -0.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 10.3 58 -8 6.1 -0.1
PDEV Principal International Multi-Factor Core Index ETF 10.2 25 25 7.9 +1.7
IMTM iShares Edge MSCI Intl Momentum Factor ETF 10.0 30 20 4.4 -1.8
SCHF Schwab International Equity ETF 10.0 6 44 7.3 +1.1
DWCR Arrow DWA Country Rotation ETF 9.9 95 -45 14.0 +7.8
FID First Trust S&P International Dividend Aristocrats ETF 9.7 60 -10 10.1 +3.9
IDEV iShares Core MSCI International Developed Markets ETF 9.6 5 45 7.2 +1.0
DOO WisdomTree International Dividend ex-Financials Fund 9.5 58 -8 9.0 +2.9
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 9.5 30 20 8.2 +2.0
SPDW SPDR Portfolio Developed World ex-US ETF 9.3 4 46 7.1 +0.9
WDIV SPDR Global Dividend ETF 9.0 40 10 10.1 +3.9
EWU iShares MSCI United Kingdom ETF 9.0 50 0 7.6 +1.4
VEA Vanguard FTSE Developed Markets ETF 9.0 5 45 7.4 +1.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 9.0 14 36 6.8 +0.6
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 8.9 45 5 6.9 +0.7
QGBR SPDR MSCI UK StrategicFactors ETF 8.9 14 36 8.2 +2.0
CIL VictoryShares International Volatility Weighted Index ETF 8.9 45 5 6.9 +0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 8.9 40 10 6.8 +0.7
JPIN JPMorgan Diversified Return International Equity ETF 8.8 37 13 7.8 +1.6
FLSW Franklin FTSE Switzerland ETF 8.8 9 41 5.5 -0.7
EWL iShares MSCI Switzerland ETF 8.6 50 0 5.1 -1.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 8.6 47 3 9.4 +3.2
FLGB Franklin FTSE United Kingdom ETF 8.5 9 41 8.0 +1.8
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 8.4 19 31 7.1 +0.9
EPP iShares MSCI Pacific ex-Japan ETF 8.3 48 2 6.8 +0.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 8.3 29 21 7.8 +1.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 8.3 58 -8 7.9 +1.7
LVHI Legg Mason International Low Volatility High Dividend ETF 8.2 40 10 9.5 +3.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 8.2 39 11 6.6 +0.4
DWX SPDR S&P International Dividend ETF 8.2 45 5 7.8 +1.6
ACWX iShares MSCI ACWI ex U.S. ETF 8.2 32 18 7.3 +1.1
CWI SPDR MSCI ACWI ex-US ETF 8.1 30 20 7.3 +1.1
EWH iShares MSCI Hong Kong ETF 8.1 49 1 7.1 +0.9
TPIF Timothy Plan International ETF 8.1 62 -12 6.3 +0.1
ESGN Columbia Sustainable International Equity Income ETF 8.0 45 5 11.0 +4.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 8.0 40 10 7.1 +0.9
IDMO Invesco S&P International Developed Momentum ETF 8.0 26 24 4.0 -2.2
VEU Vanguard FTSE All-World ex-US Index Fund 7.8 8 42 7.6 +1.4
SCID Global X Scientific Beta Europe ETF 7.8 39 11 6.4 +0.2
FLHK Franklin FTSE Hong Kong ETF 7.7 9 41 8.3 +2.1
SCIX Global X Scientific Beta Asia ex-Japan ETF 7.7 38 12 6.8 +0.7
ZHOK SPDR Solactive Hong Kong ETF 7.6 14 36 7.0 +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

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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:
ProShares MSCI EAFE Dividend Growers 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 12.7 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.58
 
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.