Cambria Global Value ETF
ALTAR
Score™
10.8% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
12.4x P/Sales
ratio
0.7x
P/BV
ratio
0.8x Div.
yield
4.2%


  • 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) $103
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 121
Wgt avg mkt cap (mns) $15,689
Large cap (>$10bn) 40.9%
Mid cap ($2-10bn) 36.4%
Small cap (<$2bn) 20.9%
Developed mkts 59.5%
Emerging mkts 39.6%

TOP TEN HOLDINGS
CORTICEIRA AMORIM SGPS SA 3.9 %
ENEL SPA 2.1 %
IBERDROLA SA 2.0 %
MOTOR OIL (HELLAS) SA 1.8 %
EDP-ENERGIAS DE PORTUGAL SA 1.8 %
GAZPROM NEFT OAO-CLS 1.8 %
JBS SA 1.6 %
ACCIONA SA 1.5 %
PHILIP MORRIS CR AS 1.5 %
GRUPO FERROVIAL 1.5 %
Total 19.5 %

TOP COUNTRY EXPOSURE
SPAIN 10.0 %
PORTUGAL 9.6 %
TURKEY 8.8 %
RUSSIA 8.7 %
BRAZIL 8.7 %
ITALY 8.5 %
BRITAIN 7.3 %
GREECE 7.2 %
SINGAPORE 7.1 %
NORWAY 6.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-29.3% -21.4% -1.7% -- -4.2%

Market Correlations
versus... Beta R-squared
S&P500 1.00 64%
MSCI EAFE 1.24 85%
MSCI Emg. Mkts. 1.00 83%

Technical Indicators
Recent close $18.34
30d moving avg. $16.25
Annualized volatility 21.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 28
Turnover 0.5%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $5,637

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Cambria Global Value ETF 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™: 10.8%


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
(%)
DOO WisdomTree International Dividend ex-Financials Fund 12.3 58 11 8.7 -2.2
DTH WisdomTree DEFA Equity Income Fund 12.1 58 11 9.6 -1.3
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 11.8 30 39 7.4 -3.5
VYMI Vanguard International High Dividend Yield ETF 10.8 32 37 10.1 -0.7
EFV iShares MSCI EAFE Value ETF 10.7 39 30 10.0 -0.8
IDV iShares International Select Dividend ETF 10.2 49 20 12.3 +1.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 9.9 20 49 9.3 -1.6
IQDF FlexShares International Quality Dividend Index Fund 9.9 47 22 12.9 +2.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 9.7 47 22 12.7 +1.9
OEUR O'shares FTSE Europe Quality Dividend ETF 9.6 48 21 6.6 -4.2
PGAL Global X FTSE Portugal 20 ETF 9.6 57 12 6.0 -4.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 9.6 58 11 9.9 -1.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 9.6 20 49 10.9 +0.1
EYLD Cambria Emerging Shareholder Yield ETF 9.5 66 3 16.6 +5.8
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 9.5 45 24 9.8 -1.1
DOL WisdomTree International LargeCap Dividend Fund 9.5 48 21 8.5 -2.3
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 9.4 30 39 6.8 -4.0
FLEE Franklin FTSE Europe ETF 9.3 9 60 7.0 -3.8
FLEH Franklin FTSE Europe Hedged ETF 9.2 9 60 7.2 -3.7
IEV iShares Europe ETF 9.2 59 10 6.8 -4.0
BBEU JPMorgan BetaBuilders Europe ETF 9.1 9 60 7.3 -3.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 9.0 45 24 6.8 -4.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 8.7 45 24 8.8 -2.0
VGK Vanguard FTSE Europe ETF 8.7 8 61 7.3 -3.6
IDOG ALPS International Sector Dividend Dogs ETF 8.6 50 19 11.0 +0.1
JPEU JPMorgan Diversified Return Europe Equity ETF 8.6 37 32 6.8 -4.0
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 8.6 51 18 13.4 +2.6
FEU SPDR Portfolio Europe ETF 8.5 9 60 7.3 -3.6
VIDI Vident International Equity Fund 8.5 59 10 11.3 +0.5
EWP iShares MSCI Spain ETF 8.5 50 19 8.8 -2.0
IEUR iShares Core MSCI Europe ETF 8.4 9 60 7.3 -3.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 8.3 47 22 13.5 +2.7
IVLU iShares Edge MSCI Intl Value Factor ETF 8.3 30 39 11.3 +0.5
FNDF Schwab Fundamental International Large Co. Index ETF 8.3 25 44 8.7 -2.2
IDY Pacific Global International Equity Income ETF 8.1 39 30 8.0 -2.8
EWZ iShares MSCI Brazil Capped ETF 8.1 59 10 4.8 -6.1
DWM WisdomTree International Equity Fund 8.0 48 21 8.2 -2.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 8.0 25 44 6.7 -4.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 7.7 35 34 8.6 -2.2
EZU iShares MSCI Eurozone ETF 7.7 49 20 6.7 -4.1
EURZ Xtrackers Eurozone Equity ETF 7.6 9 60 7.0 -3.8
RFEU First Trust Riverfront Dynamic Europe ETF 7.6 83 -14 5.0 -5.9
FIVA Fidelity International Value Factor ETF 7.5 39 30 10.2 -0.6
FLBR Franklin FTSE Brazil ETF 7.5 19 50 5.3 -5.5
FBZ First Trust Brazil AlphaDEX Fund 7.3 80 -11 5.6 -5.3
IQIN IQ 500 International ETF 7.3 25 44 9.0 -1.9
RFDI First Trust Riverfront Dynamic Developed International ETF 7.3 83 -14 6.3 -4.5
MOTI VanEck Vectors Morningstar International Moat ETF 7.3 57 12 8.3 -2.6
QGBR SPDR MSCI UK StrategicFactors ETF 7.3 14 55 7.6 -3.3
EWU iShares MSCI United Kingdom ETF 7.3 50 19 7.0 -3.9
FLGB Franklin FTSE United Kingdom ETF 7.2 9 60 7.5 -3.4
PXH Invesco FTSE RAFI Emerging Markets ETF 7.2 50 19 13.7 +2.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 7.2 45 24 6.8 -4.1
FAN First Trust Global Wind Energy ETF 7.2 60 9 6.3 -4.6
SCID Global X Scientific Beta Europe ETF 7.2 38 31 6.9 -4.0
GREK Global X FTSE Greece 20 ETF 7.1 59 10 6.2 -4.6
INFR Legg Mason Global Infrastructure ETF 7.0 40 29 6.0 -4.8
FLIY Franklin FTSE Italy ETF 6.9 9 60 7.7 -3.1
EUFN iShares MSCI Europe Financials ETF 6.9 48 21 11.5 +0.7
EUMV iShares Edge MSCI Min Vol Europe ETF 6.8 25 44 5.5 -5.4
FKU First Trust United Kingdom AlphaDEX Fund 6.7 80 -11 9.2 -1.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.7 49 20 8.3 -2.6
DMDV AAM S&P Developed Markets High Dividend Value ETF 6.7 39 30 10.9 +0.1
EFA iShares MSCI EAFE ETF 6.6 32 37 7.2 -3.7
FDEV Fidelity Targeted International Factor ETF 6.6 39 30 6.5 -4.3
FYLD Cambria Foreign Shareholder Yield ETF 6.6 59 10 9.3 -1.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 6.6 35 34 7.0 -3.8
EWS iShares MSCI Singapore ETF 6.6 50 19 8.6 -2.2
HFXI IQ 50 Percent Hedged FTSE International ETF 6.5 20 49 7.5 -3.3
FEZ SPDR EURO STOXX 50 ETF 6.5 29 40 7.1 -3.7
JHMD John Hancock Multifactor Developed International ETF 6.5 45 24 7.4 -3.4
GUNR Flexshares Morningstar Global Upstream Natural Resources 6.5 46 23 5.9 -4.9
ENOR iShares MSCI Norway Capped ETF 6.4 53 16 10.4 -0.4
NORW Global X MSCI Norway ETF 6.4 50 19 10.3 -0.5
FLRU Franklin FTSE Russia ETF 6.4 19 50 19.3 +8.5
IQSI IQ Candriam ESG International Equity ETF 6.3 15 54 7.3 -3.5
ESGD iShares MSCI EAFE ESG Optimized ETF 6.3 20 49 7.2 -3.7
FLLA Franklin FTSE Latin America ETF 6.3 19 50 6.9 -3.9
EWI iShares MSCI Italy ETF 6.3 49 20 7.8 -3.0
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 6.3 7 62 7.6 -3.3
EFAS Global X MSCI SuperDividend EAFE ETF 6.3 55 14 9.8 -1.1
JXI iShares Global Utilities ETF 6.2 46 23 5.8 -5.0
ISEM Invesco Strategic Emerging Markets ETF 6.2 35 34 10.3 -0.5
DWX SPDR S&P International Dividend ETF 6.2 45 24 7.7 -3.1
TPIF Timothy Plan International ETF 6.1 62 7 7.0 -3.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 6.1 49 20 9.0 -1.8
ISDX Invesco Strategic Developed ex-US ETF 6.1 23 46 7.4 -3.4
DVYE iShares Emerging Markets Dividend ETF 6.1 49 20 13.0 +2.2
TUR iShares MSCI Turkey ETF 6.1 59 10 17.6 +6.8
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.0 47 22 6.4 -4.5
ERUS iShares MSCI Russia ETF 5.9 59 10 15.8 +4.9
SCHF Schwab International Equity ETF 5.9 6 63 7.4 -3.4
IEFA iShares Core MSCI EAFE ETF 5.9 7 62 7.3 -3.5
EMXC iShares MSCI Emerging Markets ex China ETF 5.8 49 20 8.4 -2.5
EPOL iShares MSCI Poland Capped ETF 5.8 61 8 9.8 -1.0
FLN First Trust Latin America AlphaDEX Fund 5.7 80 -11 8.1 -2.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 5.5 29 40 12.2 +1.4
JPIN JPMorgan Diversified Return International Equity ETF 5.5 38 31 8.0 -2.9
IDEV iShares Core MSCI International Developed Markets ETF 5.5 5 64 7.3 -3.6

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

  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:
Cambria Global Value ETF
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 8.9 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 10.8 %
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.