Xtrackers MSCI EAFE High Div Yld Hedged
ALTAR
Score™
8.7% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
12.6x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
5.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF tracks a cap-weighted index of developed country stocks, ex-North America, 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) $392
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 118
Wgt avg mkt cap (mns) $51,205
Large cap (>$10bn) 86.2%
Mid cap ($2-10bn) 13.8%
Small cap (<$2bn) 0.0%
Developed mkts 99.3%
Emerging mkts 0.7%

TOP TEN HOLDINGS
ASTRAZENECA PLC 6.2 %
GLAXOSMITHKLINE PLC 5.2 %
SANOFI-AVENTIS 5.2 %
ALLIANZ SE-REG 4.9 %
TOTAL SA 4.7 %
BASF SE 3.8 %
RIO TINTO PLC 3.3 %
ZURICH FINANCIAL SERVICES AG 3.2 %
IBERDROLA SA 3.1 %
AXA SA 2.8 %
Total 42.4 %

TOP COUNTRY EXPOSURE
BRITAIN 24.7 %
FRANCE 14.9 %
GERMANY 11.8 %
JAPAN 10.9 %
AUSTRALIA 6.4 %
SPAIN 6.0 %
SWITZERLAND 5.0 %
HONG KONG 4.7 %
SINGAPORE 3.5 %
FINLAND 3.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.1% 14.7% -- -- 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.63 50%
MSCI EAFE 0.85 75%
MSCI Emg. Mkts. 0.54 49%

Technical Indicators
Recent close $23.80
30d moving avg. $23.83
Annualized volatility 10.8%
Short interest (ETF) 0.5%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 85
Turnover 0.5%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $5,736

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Xtrackers MSCI EAFE High Div Yld Hedged ETF based on the alternatives' overlap in portfolio holdings with HDEF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HDEF Expense: 20 bp ALTAR Score™: 8.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HDEF
Ticker Fund
Name
Overlap1
vs HDEF
(%)
Expense
ratio
(bp)
Savings
vs HDEF
(bp)
ALTAR
Score™
(%)
ALTAR
vs HDEF
(%)
HDAW Xtrackers MSCI All World ex US High Div Yield 51.0 20 0 10.0 +1.3
DOO WisdomTree Int'l Dividend Ex-Financials 33.7 58 -38 8.0 -0.7
DTH WisdomTree DEFA Equity Income 32.2 58 -38 8.5 -0.2
LVHI Legg Mason International Low Volatility High Dividend 28.5 40 -20 9.4 +0.7
RIDV Invesco International Ultra Dividend Revenue ETF 26.0 42 -22 9.1 +0.4
IDOG ALPS International Sector Dividend Dogs 24.3 50 -30 7.4 -1.3
EFV iShares MSCI EAFE Value 24.1 38 -18 9.0 +0.3
CID Victory CEMP International High Div Volatility Wtd 24.1 45 -25 8.8 +0.1
EWU iShares MSCI United Kingdom 23.6 47 -27 7.4 -1.3
IDY Pacific Global International Equity Income 23.6 39 -19 8.2 -0.5
QGBR SPDR MSCI UK Quality Mix 23.2 14 6 7.8 -0.9
IQLT iShares MSCI Int'l Developed Quality 22.6 30 -10 6.1 -2.6
IDHD Invesco S&P Intl Developed High Div Low Volatility 22.3 30 -10 6.4 -2.3
FLGB Franklin FTSE United Kingdom 22.2 9 11 7.8 -0.9
OEUR O'Shares FTSE Europe Quality Dividend 21.8 48 -28 6.4 -2.3
IQDF FlexShares Int'l Quality Dividend 21.6 47 -27 9.5 +0.8
EUMV iShares MSCI Europe Min Volatility 21.3 25 -5 5.2 -3.5
DOL WisdomTree Int'l Large Cap Dividend 20.7 48 -28 7.7 -1.0
FEZ SPDR DJ Euro Stoxx 50 20.6 29 -9 6.9 -1.8
FDD First Trust STOXX European Select Dividend 20.5 57 -37 7.6 -1.1

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 EAFE High Div Yld 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 13.1 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 8.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 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.