VanEck Vectors Morningstar Global Wide Moat
ALTAR
Score™
5.8% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
19.7x P/Sales
ratio
3.3x
P/BV
ratio
3.7x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The VanEck Vectors Morningstar Global Wide Moat ETF tracks a staggered, equal-weighted index of companies that Morningstar determines to have the highest fair value among firms with a sustainable competitive advantage.

FUND BASICS
Category Global Equities
Fund Sponsor VanEck
Website www.vaneck.com
Inception date Oct 30, 2018
Assets (mns) $6
Currency USD
Expense ratio 52 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 72
Wgt avg mkt cap (mns) $158,626
Large cap (>$10bn) 95.9%
Mid cap ($2-10bn) 4.1%
Small cap (<$2bn) 0.0%
Developed mkts 95.3%
Emerging mkts 4.8%

TOP TEN HOLDINGS
WESTERN UNION CO 2.4 %
AMGEN INC 2.2 %
NOVO NORDISK A/S-B 2.2 %
UNITED TECHNOLOGIES CORP 2.1 %
GUIDEWIRE SOFTWARE INC 2.1 %
ESSILOR INTERNATIONAL 2.1 %
ZIMMER HOLDINGS INC 2.1 %
ALPHABET INC. CLASS A 2.1 %
ALLEGION PLC 2.1 %
GLAXOSMITHKLINE PLC 2.1 %
Total 21.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 58.7 %
CANADA 5.9 %
FRANCE 5.2 %
BRITAIN 4.9 %
IRELAND 4.1 %
AUSTRALIA 3.8 %
CHINA 3.7 %
SWITZERLAND 3.0 %
JAPAN 2.8 %
DENMARK 2.2 %

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.
20.8% -- -- -- 11.7%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $30.17
30d moving avg. $29.43
Annualized volatility 0.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $34,894

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the VanEck Vectors Morningstar Global Wide Moat ETF based on the alternatives' overlap in portfolio holdings with GOAT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GOAT Expense: 52 bp ALTAR Score™: 5.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GOAT
Ticker Fund
Name
Overlap1
vs GOAT
(%)
Expense
ratio
(bp)
Savings
vs GOAT
(bp)
ALTAR
Score™
(%)
ALTAR
vs GOAT
(%)
MOAT Mkt Vectors Morningstar Wide Moat Focus 45.8 49 3 6.4 +0.6
USMC Principal U.S. Mega-Cap Multi-Factor Index 27.6 12 40 5.7 -0.1
EQWL Invesco Fundamental Pure Large Core 26.2 25 27 6.4 +0.6
OEF iShares S&P 100 25.3 20 32 5.5 -0.3
IWL iShares Russell Top 200 24.1 15 37 5.7 -0.1
MGC Vanguard Mega Cap 300 ETF 23.5 7 45 5.9 +0.0
XLG Invesco S&P Top 50 23.0 20 32 5.2 -0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index 23.0 15 37 5.5 -0.4
SPXE ProShares S&P 500 Ex-Energy 22.5 27 25 5.9 +0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 22.4 20 32 6.0 +0.1
PBP Invesco S&P 500 Buy/Write 22.3 49 3 5.6 -0.3
HSPX Global X S&P 500 Covered Call 22.0 65 -13 5.4 -0.4
OVOL Invesco Russell 1000 Low Volatility Factor ETF 21.7 19 33 5.6 -0.2
SPY S&P 500 SPDR 21.7 9 43 5.9 +0.1
IVV iShares Core S&P 500 21.7 4 48 6.0 +0.2
ESGU iShares MSCI USA ESG Optimized 21.6 15 37 5.6 -0.2
VOO Vanguard S&P 500 ETF 21.6 3 49 6.0 +0.2
SPXT ProShares S&P 500 Ex-Technology 21.4 27 25 6.0 +0.2
EPS WisdomTree Earnings 500 21.3 8 44 7.0 +1.2
VV Vanguard Large-Cap ETF 21.2 4 48 5.9 +0.1

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:
VanEck Vectors Morningstar Global Wide Moat
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 21.3 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 52 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.54
 
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.