Xtrackers MSCI All World ex US High Dividend Yield Hedged
ALTAR
Score™
10.3% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
10.3x P/Sales
ratio
0.9x
P/BV
ratio
1.2x Div.
yield
5.6%


  • 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) $24
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 336
Wgt avg mkt cap (mns) $58,719
Large cap (>$10bn) 83.0%
Mid cap ($2-10bn) 16.8%
Small cap (<$2bn) 0.2%
Developed mkts 75.5%
Emerging mkts 22.4%

TOP TEN HOLDINGS
ROYAL BANK OF CANADA 3.2 %
TOTAL SA 3.2 %
SANOFI-AVENTIS 3.1 %
GLAXOSMITHKLINE PLC 2.9 %
ALLIANZ SE-REG 2.9 %
CHINA CONSTRUCTION BANK-H 2.2 %
BAYER AG 2.1 %
BHP BILLITON LTD 2.0 %
IBERDROLA SA 2.0 %
BANK OF NOVA SCOTIA 1.9 %
Total 25.6 %

TOP COUNTRY EXPOSURE
BRITAIN 13.2 %
CANADA 11.9 %
FRANCE 8.7 %
GERMANY 8.3 %
JAPAN 6.1 %
CHINA 6.0 %
HONG KONG 5.7 %
AUSTRALIA 5.4 %
RUSSIA 3.9 %
SPAIN 3.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.2% 7.9% -- -- 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.67 55%
MSCI EAFE 0.88 79%
MSCI Emg. Mkts. 0.64 71%

Technical Indicators
Recent close $24.09
30d moving avg. $25.65
Annualized volatility 11.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.2%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $11,617

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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™: 10.3%


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 50.4 20 0 9.0 -1.3
DTH WisdomTree DEFA Equity Income Fund 36.5 58 -38 9.2 -1.2
VYMI Vanguard International High Dividend Yield ETF 33.2 32 -12 9.7 -0.6
IDY Pacific Global International Equity Income ETF 28.2 39 -19 8.8 -1.5
EFV iShares MSCI EAFE Value ETF 27.6 39 -19 9.6 -0.7
IQLT iShares Edge MSCI Intl Quality Factor ETF 26.0 30 -10 6.3 -4.0
RIDV Invesco International Ultra Dividend Revenue ETF 25.7 42 -22 9.2 -1.1
IGRO iShares International Dividend Growth ETF 25.7 22 -2 7.8 -2.6
DOO WisdomTree International Dividend ex-Financials Fund 25.2 58 -38 8.7 -1.6
DOL WisdomTree International LargeCap Dividend Fund 24.9 48 -28 8.2 -2.1
CID Victory CEMP Intl High Dividend Volatility Wtd Index ETF 23.4 45 -25 9.7 -0.6
IQDF FlexShares International Quality Dividend Index Fund 23.1 47 -27 9.8 -0.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 22.8 35 -15 8.3 -2.1
DWM WisdomTree International Equity Fund 22.5 48 -28 8.1 -2.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 20.8 47 -27 10.0 -0.4
OEUR O'shares FTSE Europe Quality Dividend ETF 20.7 48 -28 6.7 -3.6
IQDE FlexShares International Quality Dividend Defensive Index Fd 20.3 47 -27 9.7 -0.6
FID First Trust S&P International Dividend Aristocrats ETF 20.2 60 -40 7.4 -2.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 20.0 29 -9 8.1 -2.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 19.7 45 -25 8.6 -1.7

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

Content on this tab for subscribers only

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 12.8 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 10.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 CATEGORY
AVERAGE
1.64
 
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.