VanEck Vectors Morningstar Global Wide Moat ETF
ALTAR
Score™
6.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
2.5x
P/BV
ratio
2.8x Div.
yield
2.8%


  • 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 69
Wgt avg mkt cap (mns) $151,875
Large cap (>$10bn) 87.1%
Mid cap ($2-10bn) 11.1%
Small cap (<$2bn) 1.8%
Developed mkts 94.9%
Emerging mkts 5.1%

TOP TEN HOLDINGS
KAO CORP 2.4 %
VEEVA SYSTEMS INC-CLASS A 2.3 %
TENCENT HOLDINGS LTD 2.3 %
SERVICENOW INC 2.3 %
MICROSOFT CORP 2.3 %
ROCHE HOLDING AG-GENUSSCHEIN 2.2 %
INTEL CORP 2.2 %
YUM CHINA HOLDINGS, INC. 2.2 %
SALESFORCE.COM INC 2.1 %
ALIBABA GROUP HOLDING LTD. SPONSOR 2.1 %
Total 22.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 57.6 %
CHINA 6.7 %
BRITAIN 5.8 %
JAPAN 5.5 %
SWITZERLAND 5.0 %
FRANCE 4.9 %
CANADA 4.7 %
GERMANY 2.6 %
IRELAND 2.0 %
AUSTRALIA 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-8.0% 7.1% -- -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.90 99%
MSCI EAFE 1.00 90%
MSCI Emg. Mkts. 0.74 63%

Technical Indicators
Recent close $25.39
30d moving avg. $27.27
Annualized volatility 15.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.8%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $76,922

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the VanEck Vectors Morningstar Global Wide Moat ETF 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™: 6.6%


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 VanEck Vectors Morningstar Wide Moat ETF 43.7 49 3 7.6 +0.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 26.2 12 40 6.1 -0.6
OEF iShares S&P 100 ETF 22.5 20 32 6.1 -0.5
EQWL Invesco Russell Top 200 Equal Weight ETF 22.4 25 27 7.3 +0.7
XLG Invesco S&P 500 Top 50 ETF 21.4 20 32 5.7 -0.9
IWL iShares Russell Top 200 ETF 21.3 15 37 6.4 -0.2
HSPX Global X S&P 500 Covered Call ETF 20.9 65 -13 6.1 -0.5
MGC Vanguard Mega Cap Index Fund 20.9 7 45 6.6 -0.1
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 20.8 15 37 6.7 +0.0
IOO iShares Global 100 ETF 20.7 40 12 6.0 -0.6
DSI iShares MSCI KLD 400 Social ETF 20.7 25 27 6.5 -0.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 20.7 60 -8 5.7 -0.9
PBP Invesco S&P 500 BuyWrite ETF 20.5 49 3 6.5 -0.1
TTAC TrimTabs Float Shrink ETF 20.5 59 -7 5.0 -1.6
JOYY Infusive Compounding Global Equities ETF 20.4 50 2 4.9 -1.7
SPXE ProShares S&P 500 Ex-Energy ETF 19.8 27 25 6.7 +0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 19.5 20 32 6.8 +0.1
SPY SPDR S&P 500 ETF Trust 19.4 9 43 6.8 +0.2
IVV iShares Core S&P 500 ETF 19.4 4 48 6.8 +0.2
VOO VANGUARD S&P 500 ETF 19.4 3 49 6.8 +0.2
AIQ Global X Future Analytics Tech ETF 19.4 68 -16 5.6 -1.0
SPLG SPDR Portfolio Large Cap ETF 19.4 3 49 6.9 +0.2
ESGU iShares MSCI USA ESG Optimized ETF 19.2 15 37 6.4 -0.2
SNPE Xtrackers S&P 500 ESG ETF 19.2 11 41 6.6 -0.1
SUSL iShares ESG MSCI USA Leaders ETF 19.1 10 42 6.7 +0.1
VV Vanguard Large-Cap Index Fund 19.1 4 48 6.7 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 19.1 27 25 6.4 -0.2
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 19.1 10 42 6.7 +0.1
PBUS Invesco PureBeta MSCI USA ETF 18.8 4 48 6.8 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 18.8 12 40 6.4 -0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 18.8 2 50 6.8 +0.2
EPS WisdomTree U.S. Earnings 500 Fund 18.8 8 44 8.1 +1.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 18.6 20 32 6.4 -0.3
TOK iShares MSCI Kokusai ETF 18.6 25 27 7.1 +0.5
GVIP Goldman Sachs Hedge Industry VIP ETF 18.6 45 7 6.2 -0.4
SPXV ProShares S&P 500 Ex-Health Care ETF 18.5 27 25 6.5 -0.1
SCHX Schwab U.S. Large-Cap ETF 18.5 3 49 6.7 +0.1
SPXT ProShares S&P 500 Ex-Technology ETF 18.4 27 25 7.1 +0.4
VONE Vanguard Russell 1000 ETF 18.4 8 44 6.7 +0.1
SPTM SPDR Portfolio Total Stock Market ETF 18.3 3 49 7.0 +0.4
IWB iShares Russell 1000 ETF 18.3 15 37 6.7 +0.1
SFY SoFi Select 500 ETF 18.3 0 52 6.4 -0.2
VOOG Vanguard S&P 500 Growth ETF 18.2 10 42 5.5 -1.1
IVW iShares S&P 500 Growth ETF 18.2 18 34 5.4 -1.2
SPYG SPDR Portfolio S&P 500 Growth ETF 18.2 4 48 5.5 -1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 18.2 49 3 5.2 -1.4
SCHK Schwab 1000 Index ETF 18.1 5 47 6.7 +0.1
IYY iShares Dow Jones U.S. ETF 18.0 20 32 6.6 +0.0
IUS Invesco Strategic US ETF 17.9 19 33 7.6 +1.0
IUSG iShares Core S&P US Growth ETF 17.8 4 48 5.7 -0.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 17.7 20 32 7.8 +1.2
MGV Vanguard Mega Cap Value ETF 17.7 7 45 8.5 +1.9
QUAL iShares MSCI Usa Quality Factor ETF 17.7 15 37 6.6 0.0
VTHR Vanguard Russell 3000 Index Fund 17.6 10 42 6.6 +0.0
BVAL Brand Value ETF 17.5 65 -13 8.6 +2.0
IWV iShares Russell 3000 ETF 17.5 20 32 6.5 -0.1
VTI Vanguard Total Stock Market Index Fund 17.4 3 49 6.7 +0.0
SCHB Schwab U.S. Broad Market ETF 17.4 3 49 6.7 +0.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 17.4 20 32 7.8 +1.2
URTH iShares MSCI World ETF 17.4 24 28 7.3 +0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 17.4 3 49 6.7 +0.0
ACWI iShares MSCI ACWI ETF 17.3 32 20 7.5 +0.9
ESGV Vanguard ESG U.S. Stock ETF 17.2 12 40 6.7 +0.0
ESG FlexShares STOXX US ESG Impact Index Fund 17.2 32 20 6.5 -0.1
JKD iShares Morningstar Large-Cap ETF 17.2 20 32 7.1 +0.5
DGRO iShares Core Dividend Growth ETF 17.1 8 44 8.1 +1.4
FDMO Fidelity Momentum Factor ETF 17.0 29 23 5.2 -1.4
IQSU IQ Candriam ESG US Equity ETF 17.0 9 43 6.4 -0.2
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 16.9 29 23 5.4 -1.3
DGT SPDR Global Dow ETF 16.8 50 2 8.3 +1.7
CATH Global X S&P 500 Catholic Values Custom ETF 16.8 29 23 6.7 +0.1
NACP Impact Shares NAACP Minority Empowerment ETF 16.8 75 -23 6.0 -0.6
VTV Vanguard Value Index Fund 16.7 4 48 8.8 +2.2
JQUA JPMorgan U.S. Quality Factor ETF 16.7 12 40 6.4 -0.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 16.6 9 43 7.5 +0.9
SUSA iShares MSCI USA ESG Select ETF 16.6 25 27 6.0 -0.7
QUS SPDR MSCI USA StrategicFactors ETF 16.4 15 37 7.0 +0.3
WOMN Impact Shares YWCA Women's Empowerment ETF 16.4 75 -23 6.0 -0.7
DIVB iShares U.S. Dividend & Buyback ETF 16.4 25 27 8.4 +1.8
RECS Columbia Research Enhanced Core ETF 16.4 15 37 7.2 +0.6
RFDA RiverFront Dynamic US Dividend Advantage ETF 16.3 52 0 7.5 +0.8
XNTK SPDR Morgan Stanley Technology ETF 16.3 35 17 5.1 -1.5
IWY iShares Russell Top 200 Growth ETF 16.3 20 32 5.3 -1.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 16.2 19 33 7.3 +0.6
IXJ iShares Global Healthcare ETF 16.1 46 6 7.0 +0.4
QWLD SPDR MSCI World StrategicFactors ETF 16.1 30 22 7.3 +0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 16.0 9 43 7.0 +0.3
FTCS First Trust Capital Strength ETF 16.0 60 -8 5.9 -0.7
EXT WisdomTree U.S. Total Earnings Fund 16.0 28 24 7.3 +0.7
JHML John Hancock Multifactor Large Cap ETF 15.9 34 18 7.1 +0.4
VT Vanguard Total World Stock Index Fund 15.9 8 44 7.8 +1.2
OGIG O'Shares Global Internet Giants ETF 15.8 48 4 0.9 -5.7
DGRW WisdomTree U.S. Quality Dividend Growth Fund 15.8 28 24 8.0 +1.4
VONG Vanguard Russell 1000 Growth Index Fund 15.7 8 44 5.5 -1.1
MOTI VanEck Vectors Morningstar International Moat ETF 15.7 57 -5 10.5 +3.8
IWF iShares Russell 1000 Growth ETF 15.7 19 33 5.4 -1.2
FVAL Fidelity Value Factor ETF 15.6 29 23 10.5 +3.9
FDRR Fidelity Dividend ETF for Rising Rates 15.5 29 23 9.3 +2.6
TTFS AdvisorShares Wilshire Buyback ETF 15.5 91 -39 7.2 +0.6
ESGG FlexShares STOXX Global ESG Impact Index Fund 15.5 42 10 6.9 +0.3

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:
VanEck Vectors Morningstar Global Wide Moat ETF
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 19.6 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 52 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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