ProShares MSCI Europe Dividend Growers
ALTAR
Score™
6.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
17.6x P/Sales
ratio
2.1x
P/BV
ratio
2.4x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The ProShares MSCI Europe Dividend Growers ETF tracks an index of European companies with a history of stable dividend growth

FUND BASICS
Category International Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Sep 10, 2015
Assets (mns) $9
Currency USD
Expense ratio 55 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 56
Wgt avg mkt cap (mns) $44,114
Large cap (>$10bn) 78.0%
Mid cap ($2-10bn) 22.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SARTORIUS STEDIM BIOTECH SA 2.2 %
SSE PLC 2.1 %
KINGSPAN GROUP PLC 2.0 %
UCB SA 2.0 %
AVEVA GROUP PLC 2.0 %
NOVOZYMES A/S-UNSPONS ADR 2.0 %
PARTNERS GROUP HOLDING AG 2.0 %
HALMA PLC 1.9 %
LEGAL & GENERAL GROUP PLC 1.9 %
COLOPLAST A/S CLASS B 1.9 %
Total 20.0 %

TOP COUNTRY EXPOSURE
BRITAIN 37.4 %
FRANCE 13.6 %
SWITZERLAND 10.9 %
DENMARK 5.7 %
IRELAND 5.4 %
GERMANY 5.2 %
BELGIUM 3.7 %
SPAIN 3.6 %
SWEDEN 3.6 %
NETHERLANDS 3.3 %

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.
-0.9% 16.9% -- -- 6.0%

Market Correlations
versus... Beta R-squared
S&P500 0.78 64%
MSCI EAFE 0.98 83%
MSCI Emg. Mkts. 0.65 64%

Technical Indicators
Recent close $45.25
30d moving avg. $44.90
Annualized volatility 11.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $3,907

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EUDV Expense: 55 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EUDV
Ticker Fund
Name
Overlap1
vs EUDV
(%)
Expense
ratio
(bp)
Savings
vs EUDV
(bp)
ALTAR
Score™
(%)
ALTAR
vs EUDV
(%)
EFAD ProShares EAFE Dividend Growers 61.8 50 5 6.0 -0.2
EUMV iShares MSCI Europe Min Volatility 24.3 25 30 5.1 -1.1
GSEU Goldman Sachs ActiveBeta Europe Equity 19.0 25 30 6.3 +0.0
IEV iShares S&P Europe 350 18.5 59 -4 6.2 -0.1
DBEU Xtrackers Europe Hedged 18.3 45 10 6.1 -0.1
BBEU JPMorgan BetaBuilders Europe 18.0 9 46 6.7 +0.4
FLEE Franklin FTSE Europe 17.9 9 46 6.7 +0.4
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 17.8 30 25 6.4 +0.1
FLEH Franklin FTSE Europe Hedged 17.7 9 46 6.5 +0.3
VIGI Vanguard Int'l Dividend Appreciation 17.5 25 30 5.6 -0.6
QEFA SPDR MSCI EAFE Quality Mix 17.3 30 25 6.4 +0.2
IEUR iShares Core MSCI Europe 16.8 9 46 6.7 +0.4
RFEU First Trust Riverfront Dynamic Europe 16.8 83 -28 6.5 +0.3
FEU SPDR DJ Stoxx 50 16.4 9 46 6.7 +0.4
IQLT iShares MSCI Int'l Developed Quality 16.3 30 25 5.9 -0.3
OEUR O'Shares FTSE Europe Quality Dividend 16.3 48 7 6.3 +0.1
EUDG WisdomTree Europe Dividend 16.3 58 -3 6.0 -0.3
VGK Vanguard FTSE Europe 16.2 9 46 6.7 +0.5
EFG iShares MSCI EAFE Growth 16.1 40 15 4.5 -1.8
EFAV iShares MSCI EAFE Minimum Volatility 15.7 20 35 5.5 -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 Europe 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 15.8 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.73 CATEGORY
AVERAGE
1.64
 
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.