Franklin LibertyQ U.S. Mid Cap Equity ETF
ALTAR
Score™		 5.3% info Recommen-
dation		 OVERWEIGHT
2020E    2021E
P/E
ratio		 24.4x P/Sales
ratio		 2.1x
P/BV
ratio		 4.2x Div.
yield		 1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Franklin LibertyQ U.S. Mid Cap Equity ETF tracks a US-listed midcap equity index that selects and weights constituents based on four factors: quality, value, momentum, and volatility.

FUND BASICS
Category US Equities
Fund Sponsor Franklin ETF Trust
Website www.libertyshares.com
Inception date Apr 26, 2017
Assets (mns) $35
Currency USD
Expense ratio 30 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 205
Wgt avg mkt cap (mns) $19,681
Large cap (>$10bn) 78.6%
Mid cap ($2-10bn) 20.1%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
KLA-TENCOR CORPORATION 1.1 %
SYNOPSYS INC 1.1 %
CADENCE DESIGN SYS INC 1.1 %
DISCOVER FINANCIAL SERVICES 1.1 %
HP INC. 1.1 %
ALIGN TECHNOLOGY INC 1.0 %
CUMMINS INC 1.0 %
METTLER-TOLEDO INTERNATIONAL 1.0 %
IDEXX LABORATORIES INC 1.0 %
TRACTOR SUPPLY COMPANY 1.0 %
Total 10.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.1 %
IRELAND 1.5 %
CHINA 1.0 %
SWITZERLAND 0.8 %
BRITAIN 0.3 %
CAYMAN ISLANDS 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
15.5% 15.5% -- -- 13.1%

Market Correlations
versus... Beta R-squared
S&P500 1.04 95%
MSCI EAFE 0.96 80%
MSCI Emg. Mkts. 0.80 72%

Technical Indicators
Recent close $39.07
30d moving avg. $38.10
Annualized volatility 20.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.6%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $24,340

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Franklin LibertyQ U.S. Mid Cap Equity ETF ETF based on the alternatives' overlap in portfolio holdings with FLQM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLQM Expense: 30 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLQM
Ticker Fund
Name		 Overlap1
vs FLQM
(%)		 Expense
ratio
(bp)		 Savings
vs FLQM
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs FLQM
(%)
ONEV SPDR Russell 1000 Low Volatility Focus ETF 37.6 20 10 6.2 +0.8
STMB iShares Factors US Mid Blend Style ETF 36.9 30 0 4.9 -0.4
IWP iShares Russell Mid-Cap Growth ETF 35.4 24 6 2.6 -2.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 34.6 24 6 5.4 +0.1
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 32.0 17 13 5.6 +0.3
ONEO SPDR Russell 1000 Momentum Focus ETF 29.9 20 10 5.6 +0.2
TPLC Timothy Plan US Large Cap Core ETF 28.6 52 -22 4.4 -0.9
JHMM John Hancock Multifactor Mid Cap ETF 27.9 42 -12 4.7 -0.7
IWR iShares Russell Midcap ETF 27.8 19 11 4.7 -0.7
PSET Principal Price Setters Index ETF 27.0 15 15 4.6 -0.7
VO Vanguard Mid-Cap Index Fund 26.6 4 26 4.5 -0.8
ONEY SPDR Russell 1000 Yield Focus ETF 26.1 20 10 7.2 +1.8
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 25.9 29 1 7.2 +1.9
BKMC BNY Mellon US Mid Cap Core Equity ETF 25.5 4 26 4.9 -0.5
LRGF iShares Edge MSCI Multifactor USA ETF 25.5 20 10 6.1 +0.7
VOT Vanguard Mid-Cap Growth Index Fund 25.2 7 23 2.7 -2.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 25.1 35 -5 5.1 -0.3
VOE Vanguard Mid-Cap Value Index Fund 25.1 7 23 6.6 +1.3
JKG iShares Morningstar Mid-Cap ETF 24.9 25 5 4.4 -0.9
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 24.3 29 1 6.0 +0.7
FLQL Franklin LibertyQ U.S. Equity ETF 24.1 15 15 5.9 +0.6
JKH iShares Morningstar Mid-Cap Growth ETF 24.1 30 0 1.9 -3.4
JOET Virtus Terranova US Quality Momentum ETF 24.0 29 1 4.6 -0.8
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 24.0 35 -5 5.1 -0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 23.8 35 -5 5.0 -0.3
ROUS Hartford Multifactor US Equity ETF 23.7 19 11 5.9 +0.5
QGRO American Century STOXX U.S. Quality Growth ETF 23.0 29 1 3.7 -1.7
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 23.0 25 5 6.8 +1.5
JPUS JPMorgan Diversified Return U.S. Equity ETF 22.7 18 12 5.6 +0.3
RVRS Reverse Cap Weighted U.S. Large Cap ETF 22.6 29 1 6.1 +0.8
IWS iShares Russell Mid-Cap Value ETF 22.5 24 6 5.9 +0.6
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 22.0 17 13 6.1 +0.7
USMF WisdomTree U.S. Multifactor Fund 21.7 28 2 5.4 +0.0
JHMI John Hancock Multifactor Industrials ETF 21.3 40 -10 5.0 -0.3
KLCD KFA Large Cap Quality Dividend Index ETF 21.2 42 -12 5.1 -0.3
RBUS Nationwide Risk-Based U.S. Equity ETF 20.9 30 0 4.6 -0.8
SCHM Schwab U.S. Mid-Cap ETF 20.8 4 26 5.0 -0.4
MDY SPDR S&P Midcap 400 ETF Trust 20.7 23 7 5.1 -0.3
SPMD SPDR Portfolio Mid Cap ETF 20.7 5 25 5.3 -0.1
IJH iShares Core S&P Mid-Cap ETF 20.7 5 25 5.3 -0.1
XJH iShares ESG Screened S&P Mid-Cap ETF 20.6 12 18 5.4 +0.0
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 20.0 60 -30 4.6 -0.7
JMIN JPMorgan U.S. Minimum Volatility ETF 20.0 12 18 5.3 -0.0
RSP Invesco S&P 500 Equal Weight ETF 20.0 20 10 5.6 +0.3
IVOO Vanguard S&P Mid-Cap 400 ETF 19.9 10 20 5.3 -0.1
AFLG First Trust Active Factor Large Cap ETF 19.7 55 -25 4.7 -0.7
DSTL Distillate US Fundamental Stability & Value ETF 19.5 39 -9 5.7 +0.3
AFMC First Trust Active Factor Mid Cap ETF 19.5 65 -35 5.2 -0.2
STLC iShares Factors US Blend Style ETF 19.5 25 5 4.8 -0.6
FTC First Trust Large Cap Growth AlphaDEX Fund 19.3 61 -31 2.2 -3.1
JKI iShares Morningstar Mid-Cap Value ETF 19.2 30 0 7.7 +2.3
ETHO Etho Climate Leadership U.S. ETF 19.0 47 -17 3.6 -1.7
JQUA JPMorgan U.S. Quality Factor ETF 19.0 12 18 5.1 -0.3
FEX First Trust Large Cap Core AlphaDEX Fund 18.9 60 -30 4.7 -0.7
RNLC Large Cap US Equity Select ETF 18.8 60 -30 5.2 -0.1
VFQY Vanguard U.S. Quality Factor ETF 18.7 13 17 5.3 -0.1
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 18.6 20 10 7.1 +1.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 18.5 9 21 5.0 -0.4
SIZE iShares MSCI USA Size Factor ETF 18.4 15 15 5.1 -0.2
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 18.3 7 23 3.9 -1.5
EUSA iShares MSCI USA Equal Weighted ETF 18.1 15 15 5.1 -0.2
RPG Invesco S&P 500 Pure Growth ETF 18.1 35 -5 2.7 -2.6
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 17.7 20 10 6.6 +1.3
QSY WisdomTree U.S. LargeCap Value Fund 17.7 38 -8 6.8 +1.4
STLV iShares Factors US Value Style ETF 17.6 25 5 6.5 +1.2
VALQ American Century STOXX U.S. Quality Value ETF 17.5 29 1 7.8 +2.5
ACWF iShares MSCI Global Multifactor ETF 17.1 35 -5 6.8 +1.5
EQAL Invesco Russell 1000 Equal Weight ETF 17.1 20 10 5.0 -0.3
BFOR Barron's 400 ETF 17.0 65 -35 5.5 +0.2
FSMD Fidelity Small-Mid Factor ETF 16.9 29 1 5.2 -0.1
MDYG SPDR S&P 400 Mid Cap Growth ETF 16.9 15 15 3.7 -1.6
IJK iShares S&P Mid-Cap 400 Growth ETF 16.9 17 13 3.7 -1.7
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 16.8 75 -45 2.0 -3.3
SPLV Invesco S&P 500 Low Volatility ETF 16.7 25 5 5.6 +0.2
JDIV JPMorgan U.S. Dividend ETF 16.6 12 18 6.7 +1.4
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 16.4 15 15 4.1 -1.2
SPGP Invesco S&P 500 GARP ETF 15.9 34 -4 6.2 +0.8
SIXL 6 Meridian Low Beta Equity Strategy ETF 15.9 84 -54 4.1 -1.3
EWMC Invesco S&P MidCap 400 Equal Weight ETF 15.6 40 -10 5.6 +0.3
JVAL JPMorgan U.S. Value Factor ETF 15.5 12 18 7.1 +1.8
TPHD Timothy Plan High Dividend Stock ETF 15.4 52 -22 5.6 +0.2
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 15.2 25 5 5.9 +0.5
DTN WisdomTree U.S. Dividend ex-Financials Fund 15.2 38 -8 7.6 +2.3
FTA First Trust Large Cap Value AlphaDEX Fund 15.2 60 -30 7.4 +2.0
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF 15.1 69 -39 4.0 -1.3
RYT Invesco S&P 500 Equal Weight Technology ETF 14.9 40 -10 5.7 +0.3
RESP WisdomTree US ESG Fund of Benef Interest 14.9 28 2 5.1 -0.3
NUMG Nuveen ESG Mid-Cap Growth ETF 14.9 40 -10 2.0 -3.4
RNMC Mid Cap US Equity Select ETF 14.8 60 -30 6.0 +0.7
FUNL CornerCap Fundametrics Large-Cap ETF 14.7 50 -20 7.2 +1.9
PEXL Pacer US Export Leaders ETF 14.7 60 -30 4.7 -0.7
STLG iShares Factors US Growth Style ETF 14.7 25 5 3.9 -1.5
CZA Invesco Zacks Mid-Cap ETF 14.6 69 -39 5.6 +0.2
JSTC Adasina Social Justice All Cap Global ETF 14.5 89 -59 5.4 +0.0
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 14.5 59 -29 4.0 -1.3
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 14.4 35 -5 4.3 -1.0
ESGS Columbia Sustainable U.S. Equity Income ETF 14.3 35 -5 7.5 +2.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 14.3 9 21 4.8 -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%.

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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:		 Franklin LibertyQ U.S. Mid Cap Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 21.0 %
Divided by: Fwd. P/BV 3.7 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.69 CATEGORY
AVERAGE		 1.49
 
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.