Xtrackers MSCI All World ex US High Div Yield
ALTAR
Score™
9.6% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.7x P/Sales
ratio
1.0x
P/BV
ratio
1.4x Div.
yield
5.0%


  • 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) $26
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) $61,998
Large cap (>$10bn) 84.3%
Mid cap ($2-10bn) 15.6%
Small cap (<$2bn) 0.1%
Developed mkts 74.6%
Emerging mkts 23.3%

TOP TEN HOLDINGS
TOTAL SA 3.5 %
GLAXOSMITHKLINE PLC 3.1 %
SANOFI-AVENTIS 3.1 %
ROYAL BANK OF CANADA 3.0 %
ALLIANZ SE-REG 2.8 %
CHINA CONSTRUCTION BANK-H 2.2 %
BHP BILLITON LTD 2.1 %
BAYER AG 2.1 %
BANK OF NOVA SCOTIA 1.8 %
BASF SE 1.8 %
Total 25.5 %

TOP COUNTRY EXPOSURE
BRITAIN 13.2 %
CANADA 11.3 %
FRANCE 9.1 %
GERMANY 8.3 %
JAPAN 6.5 %
CHINA 6.2 %
HONG KONG 5.7 %
AUSTRALIA 5.6 %
RUSSIA 4.0 %
TAIWAN 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
22.4% 22.4% -- -- 6.4%

Market Correlations
versus... Beta R-squared
S&P500 0.66 56%
MSCI EAFE 0.86 79%
MSCI Emg. Mkts. 0.61 68%

Technical Indicators
Recent close $26.38
30d moving avg. $26.00
Annualized volatility 10.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.2%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $11,761

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Xtrackers MSCI All World ex US High Div Yield 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™: 9.6%


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 Div Yld Hedged 50.2 20 0 8.4 -1.2
DTH WisdomTree DEFA Equity Income 36.5 58 -38 8.2 -1.4
VYMI Vanguard Int'l High Dividend Yield 33.0 32 -12 9.0 -0.6
IDY Pacific Global International Equity Income 28.8 39 -19 8.0 -1.7
EFV iShares MSCI EAFE Value 27.6 38 -18 8.8 -0.9
IQLT iShares MSCI Int'l Developed Quality 26.2 30 -10 5.7 -3.9
RIDV Invesco International Ultra Dividend Revenue ETF 26.1 42 -22 8.8 -0.8
DOO WisdomTree Int'l Dividend Ex-Financials 25.7 58 -38 7.8 -1.8
IGRO iShares International Dividend Growth 25.6 22 -2 7.4 -2.2
DOL WisdomTree Int'l Large Cap Dividend 25.3 48 -28 7.5 -2.2
CID Victory CEMP International High Div Volatility Wtd 24.1 45 -25 8.7 -0.9
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 23.3 35 -15 7.6 -2.0
IQDF FlexShares Int'l Quality Dividend 23.1 47 -27 8.8 -0.9
DWM WisdomTree DEFA Fund 22.7 48 -28 7.4 -2.3
OEUR O'Shares FTSE Europe Quality Dividend 21.1 48 -28 6.1 -3.5
IQDY FlexShares Int'l Quality Dividend Dynamic 20.9 47 -27 8.6 -1.0
IQDE FlexShares Int'l Quality Dividend Defensive 20.5 47 -27 8.8 -0.8
RODM Lattice Developed Markets (Ex-US) Strategy 19.9 29 -9 7.5 -2.1
CIZ Compass EMP Dev. 500 Enhanced Vol. Wgt. 19.8 45 -25 6.7 -3.0
PXF Invesco FTSE-RAFI Developed ex-US 19.7 45 -25 7.9 -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

  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:
Xtrackers MSCI All World ex US High Div Yield
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 13.0 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 9.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 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.