Xtrackers MSCI All World ex US High Dividend Yield Hedged
ALTAR
Score™
11.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
12.0x P/Sales
ratio
1.0x
P/BV
ratio
1.1x Div.
yield
5.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI All World ex US High Dividend Yield Hedged Equity ETF tracks a market cap-weighted index of global ex-US stocks, selected by quality and dividend factors. The fund is currency hedged for USD investors.

FUND BASICS
Category International Equities
Fund Sponsor Deutsche Bank
Website etfus.deutscheawm.com
Inception date Aug 12, 2015
Assets (mns) $19
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 333
Wgt avg mkt cap (mns) $54,708
Large cap (>$10bn) 81.8%
Mid cap ($2-10bn) 17.9%
Small cap (<$2bn) 0.3%
Developed mkts 75.7%
Emerging mkts 21.5%

TOP TEN HOLDINGS
SANOFI-AVENTIS 3.3 %
ROYAL BANK OF CANADA 3.1 %
SIEMENS AG-REG 3.0 %
GLAXOSMITHKLINE PLC 2.6 %
TOTAL SA 2.4 %
ALLIANZ SE-REG 2.4 %
BRITISH AMERICAN TOBACCO PLC 2.3 %
BHP BILLITON LTD 2.3 %
IBERDROLA SA 2.2 %
CHINA CONSTRUCTION BANK-H 2.1 %
Total 25.8 %

TOP COUNTRY EXPOSURE
JAPAN 12.5 %
BRITAIN 11.7 %
CANADA 9.5 %
GERMANY 7.2 %
HONG KONG 6.8 %
CHINA 6.5 %
FRANCE 6.1 %
AUSTRALIA 5.9 %
SPAIN 5.0 %
TAIWAN 3.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-16.8% -9.6% 2.5% -- 1.6%

Market Correlations
versus... Beta R-squared
S&P500 0.77 72%
MSCI EAFE 0.96 91%
MSCI Emg. Mkts. 0.71 78%

Technical Indicators
Recent close $21.09
30d moving avg. $21.24
Annualized volatility 16.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.9%
Bid/Ask (% of price) 0.58%
ADV underlying (mns) $13,049

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Xtrackers MSCI All World ex US High Dividend Yield Hedged ETF based on the alternatives' overlap in portfolio holdings with HDAW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HDAW Expense: 20 bp ALTAR Score™: 11.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HDAW
Ticker Fund
Name
Overlap1
vs HDAW
(%)
Expense
ratio
(bp)
Savings
vs HDAW
(bp)
ALTAR
Score™
(%)
ALTAR
vs HDAW
(%)
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 55.5 20 0 9.9 -1.7
DTH WisdomTree DEFA Equity Income Fund 36.6 58 -38 10.1 -1.5
VYMI Vanguard International High Dividend Yield ETF 34.7 27 -7 10.2 -1.5
IDY Pacific Global International Equity Income ETF 29.2 39 -19 8.2 -3.4
DOL WisdomTree International LargeCap Dividend Fund 27.2 48 -28 9.0 -2.7
EFV iShares MSCI EAFE Value ETF 26.8 39 -19 9.8 -1.8
IGRO iShares International Dividend Growth ETF 26.0 22 -2 8.5 -3.1
VGFO Virtus WMC Global Factor Opportunities ETF 25.5 49 -29 8.2 -3.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 24.1 35 -15 8.8 -2.8
DWM WisdomTree International Equity Fund 23.8 48 -28 8.5 -3.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 23.5 47 -27 9.2 -2.4
IQDF FlexShares International Quality Dividend Index Fund 23.4 47 -27 9.2 -2.4
IQLT iShares Edge MSCI Intl Quality Factor ETF 22.7 30 -10 6.1 -5.5
IVLU iShares Edge MSCI Intl Value Factor ETF 22.1 30 -10 11.7 +0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 21.5 47 -27 9.4 -2.3
LVHI Legg Mason International Low Volatility High Dividend ETF 21.2 40 -20 9.5 -2.1
DOO WisdomTree International Dividend ex-Financials Fund 21.1 58 -38 9.1 -2.6
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 20.4 45 -25 11.1 -0.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 19.4 45 -25 9.0 -2.6
IDV iShares International Select Dividend ETF 19.0 49 -29 10.7 -0.9
IDOG ALPS International Sector Dividend Dogs ETF 18.8 50 -30 11.4 -0.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 18.4 29 -9 7.8 -3.8
FNDF Schwab Fundamental International Large Co. Index ETF 18.1 25 -5 8.8 -2.8
PXH Invesco FTSE RAFI Emerging Markets ETF 17.8 50 -30 13.3 +1.6
OEUR O'shares FTSE Europe Quality Dividend ETF 17.6 48 -28 7.0 -4.6
LVIN Hartford Multifactor Low Volatility International Equity ETF 17.4 29 -9 11.6 +0.0
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 17.3 30 -10 8.6 -3.0
DEW WisdomTree Global High Dividend Fund 17.2 58 -38 9.7 -2.0
EFAS Global X MSCI SuperDividend EAFE ETF 16.4 56 -36 9.9 -1.7
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 16.4 32 -12 6.1 -5.5
CIL VictoryShares International Volatility Weighted Index ETF 16.3 45 -25 7.0 -4.6
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 16.3 45 -25 7.0 -4.6
QEFA SPDR MSCI EAFE Quality Mix ETF 16.3 30 -10 6.9 -4.8
PDEV Principal International Multi-Factor Core Index ETF 16.2 25 -5 8.0 -3.6
ISDX Invesco Strategic Developed ex-US ETF 16.2 23 -3 7.5 -4.2
IQIN IQ 500 International ETF 16.1 25 -5 8.8 -2.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 15.8 20 0 5.4 -6.2
FEZ SPDR EURO STOXX 50 ETF 15.8 29 -9 7.0 -4.6
EZU iShares MSCI Eurozone ETF 15.7 49 -29 6.8 -4.9
FID First Trust S&P International Dividend Aristocrats ETF 15.7 60 -40 10.0 -1.6
JHMD John Hancock Multifactor Developed International ETF 15.7 39 -19 7.4 -4.2
EURZ Xtrackers Eurozone Equity ETF 15.6 9 11 7.2 -4.4
DWX SPDR S&P International Dividend ETF 15.3 45 -25 7.9 -3.8
RBIN Nationwide Risk-Based International Equity ETF 15.3 42 -22 6.1 -5.5
EMXC iShares MSCI Emerging Markets ex China ETF 15.2 25 -5 8.1 -3.5
BKIE BNY Mellon International Equity ETF 15.1 4 16 7.5 -4.1
WDIV SPDR Global Dividend ETF 14.9 40 -20 10.0 -1.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 14.9 14 6 7.1 -4.6
JHEM John Hancock Multifactor Emerging Markets ETF 14.8 49 -29 8.7 -2.9
HFXI IQ 50 Percent Hedged FTSE International ETF 14.8 20 0 7.5 -4.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 14.8 40 -20 7.1 -4.5
IQSI IQ Candriam ESG International Equity ETF 14.7 15 5 7.5 -4.1
TPIF Timothy Plan International ETF 14.7 62 -42 6.4 -5.3
FDEV Fidelity Targeted International Factor ETF 14.7 39 -19 6.6 -5.0
IEV iShares Europe ETF 14.7 59 -39 7.0 -4.6
ACWX iShares MSCI ACWI ex U.S. ETF 14.6 32 -12 7.3 -4.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 14.6 39 -19 13.4 +1.7
EFA iShares MSCI EAFE ETF 14.5 32 -12 7.1 -4.5
CWI SPDR MSCI ACWI ex-US ETF 14.4 30 -10 7.2 -4.4
JPIN JPMorgan Diversified Return International Equity ETF 14.4 37 -17 7.9 -3.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 14.4 45 -25 6.9 -4.7
FIVA Fidelity International Value Factor ETF 14.4 39 -19 10.1 -1.5
SCHF Schwab International Equity ETF 14.3 6 14 7.3 -4.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 14.3 39 -19 6.6 -5.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 14.3 35 -15 7.0 -4.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 14.3 45 -25 6.9 -4.8
GSID Goldman Sachs MarketBeta International Equity ETF 14.3 20 0 7.4 -4.2
ESGD iShares MSCI EAFE ESG Optimized ETF 14.3 20 0 7.0 -4.6
FGD First Trust Dow Jones Global Select Dividend Index Fund 14.2 59 -39 12.2 +0.6
BBEU JPMorgan BetaBuilders Europe ETF 14.1 9 11 7.5 -4.1
FLEH Franklin FTSE Europe Hedged ETF 14.0 9 11 7.3 -4.4
FLEE Franklin FTSE Europe ETF 13.9 9 11 7.2 -4.4
EEM iShares MSCI Emerging Markets ETF 13.9 68 -48 7.4 -4.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 13.8 30 -10 8.8 -2.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 13.8 65 -45 7.4 -4.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 13.7 29 -9 7.9 -3.7
VEU Vanguard FTSE All-World ex-US Index Fund 13.6 8 12 7.6 -4.1
RNDM Developed International Equity Select ETF 13.6 65 -45 6.3 -5.3
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 13.5 7 13 7.6 -4.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 13.4 25 -5 6.7 -4.9
RESD WisdomTree International ESG Fund 13.4 30 -10 6.9 -4.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 13.4 16 4 7.0 -4.7
GUNR Flexshares Morningstar Global Upstream Natural Resources 13.2 46 -26 6.4 -5.2
BKEM BNY Mellon Emerging Markets Equity ETF 13.1 11 9 8.3 -3.3
IDEV iShares Core MSCI International Developed Markets ETF 13.1 5 15 7.3 -4.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 13.1 20 0 7.2 -4.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 13.1 36 -16 7.3 -4.3
ISZE iShares Edge MSCI Intl Size Factor ETF 13.0 30 -10 7.3 -4.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 12.9 15 5 8.4 -3.2
VGK Vanguard FTSE Europe ETF 12.9 8 12 7.6 -4.0
SCHE Schwab Emerging Markets Equity ETF 12.8 11 9 7.9 -3.7
IXUS ishares Core MSCI Total International Stock ETF 12.7 9 11 7.4 -4.2
SPDW SPDR Portfolio Developed World ex-US ETF 12.7 4 16 7.2 -4.5
VEA Vanguard FTSE Developed Markets ETF 12.6 5 15 7.5 -4.2
DMDV AAM S&P Developed Markets High Dividend Value ETF 12.6 39 -19 11.6 -0.1
IXG iShares Global Financials ETF 12.6 46 -26 10.0 -1.6
IPAC iShares Core MSCI Pacific ETF 12.5 9 11 7.2 -4.4
VSGX Vanguard ESG International Stock ETF 12.5 17 3 7.1 -4.5
IEUR iShares Core MSCI Europe ETF 12.4 9 11 7.4 -4.2

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:
Xtrackers MSCI All World ex US High Dividend Yield Hedged
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 12.3 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 11.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.57
 
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.