Franklin FTSE Switzerland ETF
ALTAR
Score™
5.6% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
2.4x
P/BV
ratio
2.5x Div.
yield
3.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FLSW tracks a market-cap-weighted index of large- and midcap companies listed in Switzerland.

FUND BASICS
Category International Equities
Fund Sponsor Franklin Templeton Investments
Website www.libertyshares.com
Inception date Feb 06, 2018
Assets (mns) $38
Currency USD
Expense ratio 9 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 47
Wgt avg mkt cap (mns) $149,359
Large cap (>$10bn) 93.6%
Mid cap ($2-10bn) 6.1%
Small cap (<$2bn) 0.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 19.6 %
ROCHE HOLDING AG-GENUSSCHEIN 15.1 %
NOVARTIS AG-REG 11.9 %
ZURICH FINANCIAL SERVICES AG 4.4 %
ABB LTD. 3.5 %
LONZA GROUP AG-REG 3.4 %
UBS GROUP AG 3.3 %
GIVAUDAN-REG 3.0 %
CIE FINANCIERE RICHEMON-BR A 2.8 %
SIKA AG-BR 2.4 %
Total 69.3 %

TOP COUNTRY EXPOSURE
SWITZERLAND 99.4 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.1% 6.9% -- -- 9.5%

Market Correlations
versus... Beta R-squared
S&P500 0.57 72%
MSCI EAFE 0.63 77%
MSCI Emg. Mkts. 0.46 61%

Technical Indicators
Recent close $27.08
30d moving avg. $26.78
Annualized volatility 12.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.6%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $9,872

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Franklin FTSE Switzerland ETF ETF based on the alternatives' overlap in portfolio holdings with FLSW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLSW Expense: 9 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLSW
Ticker Fund
Name
Overlap1
vs FLSW
(%)
Expense
ratio
(bp)
Savings
vs FLSW
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLSW
(%)
EWL iShares MSCI Switzerland ETF 91.4 50 -41 5.1 -0.5
FSZ First Trust Switzerland AlphaDEX Fund 30.8 80 -71 6.2 +0.6
RFEU First Trust Riverfront Dynamic Europe ETF 20.8 83 -74 5.4 -0.2
OEUR O'shares FTSE Europe Quality Dividend ETF 20.3 48 -39 6.6 +1.0
EUMV iShares Edge MSCI Min Vol Europe ETF 17.4 25 -16 5.0 -0.6
IEV iShares Europe ETF 17.0 59 -50 6.8 +1.2
IDHQ Invesco S&P International Developed Quality ETF 16.9 29 -20 5.1 -0.5
BBEU JPMorgan BetaBuilders Europe ETF 16.0 9 0 7.4 +1.8
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 16.0 30 -21 6.8 +1.2
FLEE Franklin FTSE Europe ETF 15.9 9 0 7.0 +1.4
FLEH Franklin FTSE Europe Hedged ETF 15.9 9 0 7.1 +1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 15.8 45 -36 6.6 +1.0
EUDG WisdomTree Europe Quality Dividend Growth Fund 15.4 58 -49 6.1 +0.5
IDMO Invesco S&P International Developed Momentum ETF 15.3 26 -17 4.6 -1.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 15.3 25 -16 6.6 +1.0
EUFN iShares MSCI Europe Financials ETF 15.2 48 -39 11.8 +6.2
IEUR iShares Core MSCI Europe ETF 14.6 9 0 7.3 +1.7
VIGI Vanguard International Dividend Appreciation ETF 14.5 25 -16 5.6 +0.0
VGK Vanguard FTSE Europe ETF 14.4 8 1 7.5 +1.9
FEU SPDR Portfolio Europe ETF 14.3 9 0 7.4 +1.8
EUDV ProShares MSCI Europe Dividend Growers ETF 13.7 55 -46 5.6 +0.1
PIZ Invesco DWA Developed Markets Momentum ETF 13.4 81 -72 4.3 -1.3
EFG iShares MSCI EAFE Growth ETF 13.1 40 -31 4.6 -1.0
EFAV iShares Edge MSCI Min Vol EAFE ETF 12.9 20 -11 5.5 -0.1
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 12.8 61 -52 5.0 -0.6
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 12.7 32 -23 6.4 +0.8
RFDI First Trust Riverfront Dynamic Developed International ETF 12.7 83 -74 5.7 +0.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 12.6 30 -21 6.1 +0.5
QEFA SPDR MSCI EAFE Quality Mix ETF 12.2 30 -21 6.9 +1.3
DOL WisdomTree International LargeCap Dividend Fund 12.0 48 -39 8.6 +3.0
IDY Pacific Global International Equity Income ETF 11.7 39 -30 8.1 +2.5
JOYY Infusive Compounding Global Equities ETF 11.2 50 -41 3.8 -1.8
PDEV Principal International Multi-Factor Core Index ETF 11.0 25 -16 8.0 +2.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 10.9 20 -11 7.1 +1.6
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 10.9 30 -21 0.0 -5.6
IGRO iShares International Dividend Growth ETF 10.8 22 -13 8.1 +2.5
SCID Global X Scientific Beta Europe ETF 10.7 39 -30 6.5 +0.9
MOTI VanEck Vectors Morningstar International Moat ETF 10.5 57 -48 8.7 +3.1
FDD First Trust Stoxx European Select Dividend Index Fund 10.4 58 -49 11.5 +5.9
SDGA Impact Shares Sustainable Development Goals Global ETF 10.2 75 -66 5.4 -0.2
EFA iShares MSCI EAFE ETF 10.1 32 -23 7.1 +1.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 10.1 35 -26 6.9 +1.3
IXJ iShares Global Healthcare ETF 10.0 46 -37 6.3 +0.7
KXI iShares Global Consumer Staples ETF 10.0 46 -37 5.4 -0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 9.9 20 -11 7.0 +1.4
IQSI IQ Candriam ESG International Equity ETF 9.9 15 -6 7.3 +1.8
NUDM Nuveen ESG International Developed Markets Equity ETF 9.8 40 -31 7.0 +1.4
BKIE BNY Mellon International Equity ETF 9.7 4 5 7.5 +1.9
RNDM Developed International Equity Select ETF 9.5 65 -56 6.5 +0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 9.4 35 -26 8.5 +2.9
HFXI IQ 50 Percent Hedged FTSE International ETF 9.4 20 -11 7.5 +1.9
GSID Goldman Sachs MarketBeta International Equity ETF 9.3 20 -11 7.4 +1.8
JHMD John Hancock Multifactor Developed International ETF 9.3 39 -30 7.5 +1.9
DWM WisdomTree International Equity Fund 9.2 48 -39 8.3 +2.7
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 9.1 7 2 7.6 +2.0
FIVA Fidelity International Value Factor ETF 9.1 39 -30 10.1 +4.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 8.9 14 -5 7.0 +1.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 8.9 70 -61 2.4 -3.2
IEFA iShares Core MSCI EAFE ETF 8.8 7 2 7.4 +1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 8.7 25 -16 6.7 +1.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 8.7 50 -41 6.1 +0.5
DWCR Arrow DWA Country Rotation ETF 8.7 95 -86 17.3 +11.7
IQDF FlexShares International Quality Dividend Index Fund 8.7 47 -38 12.4 +6.8
SCHF Schwab International Equity ETF 8.5 6 3 7.4 +1.8
JPEU JPMorgan Diversified Return Europe Equity ETF 8.4 37 -28 7.0 +1.4
DWMF WisdomTree International Multifactor Fund 8.3 38 -29 6.8 +1.2
FDEV Fidelity Targeted International Factor ETF 8.3 39 -30 6.5 +0.9
MVIN Natixis Seeyond International Minimum Volatility ETF 8.2 56 -47 5.4 -0.2
IMTM iShares Edge MSCI Intl Momentum Factor ETF 8.2 30 -21 4.4 -1.2
IDEV iShares Core MSCI International Developed Markets ETF 8.2 5 4 7.3 +1.7
TPIF Timothy Plan International ETF 7.9 62 -53 6.4 +0.8
INTF iShares Edge MSCI Multifactor Intl ETF 7.8 30 -21 8.0 +2.4
SPDW SPDR Portfolio Developed World ex-US ETF 7.8 4 5 7.2 +1.7
VEA Vanguard FTSE Developed Markets ETF 7.5 5 4 7.5 +1.9
CIL VictoryShares International Volatility Weighted Index ETF 7.2 45 -36 6.8 +1.2
EFV iShares MSCI EAFE Value ETF 7.2 39 -30 9.6 +4.0
IQDE FlexShares International Quality Dividend Defensive Index Fd 7.1 47 -38 12.4 +6.8
LVHI Legg Mason International Low Volatility High Dividend ETF 7.0 40 -31 9.2 +3.6
IOO iShares Global 100 ETF 6.9 40 -31 4.7 -0.9
CWI SPDR MSCI ACWI ex-US ETF 6.9 30 -21 7.3 +1.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 6.6 39 -30 6.7 +1.1
ACWX iShares MSCI ACWI ex U.S. ETF 6.6 32 -23 7.4 +1.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 6.5 40 -31 7.1 +1.5
FIDI Fidelity International High Dividend ETF 6.5 39 -30 11.0 +5.5
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 6.4 80 -71 5.9 +0.3
DDEZ WisdomTree Europe Multifactor Fund 6.4 43 -34 7.1 +1.5
DWX SPDR S&P International Dividend ETF 6.4 45 -36 8.0 +2.4
VEU Vanguard FTSE All-World ex-US Index Fund 6.4 8 1 7.7 +2.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 6.2 45 -36 9.0 +3.4
VSGX Vanguard ESG International Stock ETF 6.1 17 -8 7.3 +1.7
QINT American Century Quality Diversified International ETF 6.0 39 -30 5.9 +0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 5.9 29 -20 8.8 +3.2
IXUS ishares Core MSCI Total International Stock ETF 5.8 9 0 7.5 +1.9
IQDG WisdomTree International Quality Dividend Growth Fund 5.8 38 -29 6.4 +0.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 5.8 58 -49 6.3 +0.7
VXUS Vanguard Total International Stock Index Fund 5.7 8 1 7.7 +2.1
WWJD Inspire International ESG ETF 5.7 80 -71 7.6 +2.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 5.7 16 -7 7.0 +1.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 5.4 20 -11 9.5 +3.9

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 FTSE Switzerland ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.5 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.59
 
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.