Pacer Global Cash Cows Dividend
ALTAR
Score™
9.6% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
10.6x P/Sales
ratio
0.8x
P/BV
ratio
1.4x Div.
yield
6.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Pacer Global High Dividend ETF tracks an index of developed market large cap stocks, selected by free cash flow yield and dividend yield and weighted by aggregate dividends.

FUND BASICS
Category Global Equities
Fund Sponsor Pacer Financial
Website www.paceretfs.com
Inception date Feb 23, 2016
Assets (mns) $214
Currency USD
Expense ratio 60 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $71,533
Large cap (>$10bn) 94.5%
Mid cap ($2-10bn) 5.5%
Small cap (<$2bn) 0.0%
Developed mkts 96.7%
Emerging mkts 3.3%

TOP TEN HOLDINGS
BAYER AG-SPONSORED ADR 2.4 %
UNITED PARCEL SERVICE-CL B 2.3 %
NTT DOCOMO, INC. 2.3 %
AT&T INC 2.2 %
GLAXOSMITHKLINE PLC-SPON ADR 2.2 %
ABBVIE INC 2.2 %
BASF SE 2.1 %
VODAFONE GROUP PLC SPONSORED ADR 2.1 %
PHILIP MORRIS INTERNATIONAL 2.0 %
VERIZON COMMUNICATIONS INC 2.0 %
Total 21.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 26.8 %
BRITAIN 17.4 %
JAPAN 10.3 %
GERMANY 8.8 %
AUSTRALIA 7.6 %
SWITZERLAND 3.7 %
CANADA 3.5 %
FRANCE 3.3 %
SPAIN 2.9 %
NORWAY 2.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
14.4% 8.3% -- -- 9.4%

Market Correlations
versus... Beta R-squared
S&P500 0.80 79%
MSCI EAFE 0.92 86%
MSCI Emg. Mkts. 0.66 72%

Technical Indicators
Recent close $31.29
30d moving avg. $30.90
Annualized volatility 10.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 23
Turnover 0.3%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $11,896

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Pacer Global Cash Cows Dividend ETF based on the alternatives' overlap in portfolio holdings with GCOW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GCOW Expense: 60 bp ALTAR Score™: 9.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GCOW
Ticker Fund
Name
Overlap1
vs GCOW
(%)
Expense
ratio
(bp)
Savings
vs GCOW
(bp)
ALTAR
Score™
(%)
ALTAR
vs GCOW
(%)
ICOW Pacer Developed Markets Int'l Cash Cows 100 33.2 65 -5 9.2 -0.4
FDL First Trust Morningstar Dividend Leaders 23.1 45 15 8.4 -1.2
DOO WisdomTree Int'l Dividend Ex-Financials 22.5 58 2 7.9 -1.7
DEW WisdomTree Global Equity Income 21.3 58 2 8.2 -1.4
SDOG ALPS Sector Dividend Dogs 20.0 40 20 9.1 -0.5
ACIO Aptus Collared Income Opportunity 20.0 79 -19 6.7 -2.9
DHS WisdomTree Equity Income 19.8 38 22 7.1 -2.4
SPHD Invesco S&P 500 High Dividend 19.7 30 30 7.7 -1.9
WBIY WBI Power Factor High Dividend 19.6 70 -10 9.4 -0.2
CID Victory CEMP International High Div Volatility Wtd 19.4 45 15 8.6 -0.9
SPDV AAM S&P 500 High Dividend Value 18.3 29 31 10.7 +1.1
ADRD BLDRs Developed Markets 100 ADR 17.6 30 30 8.8 -0.8
IDOG ALPS International Sector Dividend Dogs 17.2 50 10 7.2 -2.4
DTN WisdomTree Dividend Ex-Financials 16.7 38 22 7.7 -1.9
JKF iShares Morningstar Large Value 16.7 25 35 7.6 -2.0
DTH WisdomTree DEFA Equity Income 16.5 58 2 8.3 -1.2
ADRU BLDRs Europe 100 ADR 16.3 30 30 7.9 -1.6
SPYD SPDR Portfolio S&P 500 High Dividend 16.3 7 53 9.1 -0.5
HDEF Xtrackers MSCI EAFE High Div Yld Hedged 16.2 20 40 8.5 -1.1
OYLD Invesco Russell 1000 Yield Factor ETF 15.7 19 41 7.0 -2.6

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

  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

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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:
Pacer Global Cash Cows Dividend
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.7 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 9.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.61 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.