FormulaFolios Smart Growth
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.2x P/Sales
ratio
1.5x
P/BV
ratio
2.1x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The FormulaFolios Smart Growth ETF is an actively managed fund of funds. The portfolio allocates between growth-oriented US and international stock ETFs, including emerging markets and REITs, and can hold US Treasurys to protect against equity

FUND BASICS
Category US Equities
Fund Sponsor Northern Lights
Website formulafoliofunds.com
Inception date Oct 31, 2017
Assets (mns) $58
Currency USD
Expense ratio 70 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 6
Wgt avg mkt cap (mns) $108,157
Large cap (>$10bn) 55.5%
Mid cap ($2-10bn) 31.4%
Small cap (<$2bn) 12.4%
Developed mkts 91.7%
Emerging mkts 7.6%

TOP TEN HOLDINGS
ISHARES CORE S&P 500 33.0 %
ISHARES CORE S&P MIDCAP 17.3 %
ISHARES CORE S&P SMALL-CAP 17.2 %
ISHARES CORE MSCI EAFE 13.4 %
ISHARES U.S. REAL ESTATE 10.5 %
ISHARES CORE MSCI EMERGING MARKETS 8.4 %
Total 99.8 %

TOP COUNTRY EXPOSURE
0.0 %











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.
18.1% 10.3% -- -- 4.4%

Market Correlations
versus... Beta R-squared
S&P500 0.92 95%
MSCI EAFE 0.94 77%
MSCI Emg. Mkts. 0.69 64%

Technical Indicators
Recent close $27.52
30d moving avg. $27.08
Annualized volatility 13.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 82

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.3%
Bid/Ask (% of price) 0.35%
ADV underlying (mns) $58,565

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 6 potential alternatives to the FormulaFolios Smart Growth ETF based on the alternatives' overlap in portfolio holdings with FFSG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FFSG Expense: 70 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FFSG
Ticker Fund
Name
Overlap1
vs FFSG
(%)
Expense
ratio
(bp)
Savings
vs FFSG
(bp)
ALTAR
Score™
(%)
ALTAR
vs FFSG
(%)
OVS Overlay Shares Small Cap Equity 17.2 82 -12 5.4 -0.3
HUSE Huntington US Equity Rotation 4.4 120 -50 7.6 +1.9
RFEM First Trust Riverfront Dynamic Emerging Markets 1.4 95 -25 10.7 +5.1
RFDI First Trust Riverfront Dynamic Developed Int'l 0.5 83 -13 6.6 +1.0
ACSI American Customer Satisfaction Core Alpha 0.4 66 4 7.8 +2.1
XOUT GraniteShares XOUT US Large Cap 0.1 60 10 5.1 -0.6

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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:
FormulaFolios Smart Growth
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 12.5 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.55
 
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.