Cambria Global Value
ALTAR
Score™
9.3% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
9.7x P/Sales
ratio
0.8x
P/BV
ratio
1.0x Div.
yield
4.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Cambria Global Value ETF is an exchange-traded fund incorporated in the USA. The ETF seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the Cambria Global Value Index.

FUND BASICS
Category International Equities
Fund Sponsor Cambria Investment Management
Website www.cambriafunds.com
Inception date Mar 12, 2014
Assets (mns) $152
Currency USD
Expense ratio 69 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Brown Brothers Harriman & Co
Weighting Proprietary
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 122
Wgt avg mkt cap (mns) $19,245
Large cap (>$10bn) 46.1%
Mid cap ($2-10bn) 35.5%
Small cap (<$2bn) 16.1%
Developed mkts 58.2%
Emerging mkts 41.1%

TOP TEN HOLDINGS
CORTICEIRA AMORIM SGPS SA 3.1 %
MOTOR OIL (HELLAS) SA 1.9 %
GAZPROM NEFT OAO-CLS 1.8 %
JBS SA 1.7 %
ENEL SPA 1.5 %
GALP ENERGIA SGPS SA-B SHRS 1.3 %
BANCO BRADESCO SA-PREF 1.3 %
IBERDROLA SA 1.3 %
BANCO DO BRASIL SA 1.3 %
ALROSA AO 1.3 %
Total 16.6 %

TOP COUNTRY EXPOSURE
BRAZIL 10.2 %
ITALY 8.8 %
SPAIN 8.6 %
TURKEY 8.4 %
SINGAPORE 8.2 %
PORTUGAL 8.2 %
RUSSIA 8.1 %
BRITAIN 7.4 %
POLAND 7.3 %
NORWAY 6.9 %

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.
11.3% 7.4% 4.1% -- 0.6%

Market Correlations
versus... Beta R-squared
S&P500 0.74 37%
MSCI EAFE 1.13 74%
MSCI Emg. Mkts. 0.92 80%

Technical Indicators
Recent close $23.08
30d moving avg. $22.93
Annualized volatility 14.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 20
Turnover 0.3%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $4,158

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: GVAL Expense: 69 bp ALTAR Score™: 9.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GVAL
Ticker Fund
Name
Overlap1
vs GVAL
(%)
Expense
ratio
(bp)
Savings
vs GVAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs GVAL
(%)
DTH WisdomTree DEFA Equity Income 13.7 58 11 8.6 -0.7
EWEM Invesco MSCI Emerging Market Equal Weight 12.0 70 -1 9.3 +0.0
DOL WisdomTree Int'l Large Cap Dividend 12.0 48 21 7.8 -1.5
EFV iShares MSCI EAFE Value 11.5 38 31 9.1 -0.2
VIDI Vident International Equity 11.4 61 8 9.3 -0.0
DOO WisdomTree Int'l Dividend Ex-Financials 11.4 58 11 8.1 -1.2
RFEU First Trust Riverfront Dynamic Europe 11.1 83 -14 6.2 -3.1
VYMI Vanguard Int'l High Dividend Yield 11.0 32 37 9.3 +0.0
CID Victory CEMP International High Div Volatility Wtd 11.0 45 24 9.0 -0.3
RIDV Invesco International Ultra Dividend Revenue ETF 10.8 42 27 9.1 -0.1
FEM First Trust Emerging Markets AlphaDEX 10.8 80 -11 10.9 +1.6
IQDE FlexShares Int'l Quality Dividend Defensive 10.5 47 22 9.7 +0.5
DWM WisdomTree DEFA Fund 10.2 48 21 7.7 -1.6
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 10.1 30 39 6.7 -2.6
FLEE Franklin FTSE Europe 10.1 9 60 6.9 -2.4
FLEH Franklin FTSE Europe Hedged 10.0 9 60 6.9 -2.4
DOGS Arrow Dogs of the World 10.0 164 -95 7.7 -1.6
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 9.9 35 34 7.9 -1.4
IEV iShares S&P Europe 350 9.9 59 10 6.4 -2.8
EMEM Virtus Glovista Emerging Markets 9.8 67 2 9.3 0.0

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:
Cambria Global Value
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 9.6 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 9.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.63
 
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.