Pacer Developed Markets Int'l Cash Cows 100
ALTAR
Score™
9.3% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
10.5x P/Sales
ratio
0.7x
P/BV
ratio
1.3x Div.
yield
4.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Pacer Developed Markets International Cash Cows 100 ETF tracks an index of 100 companies out of the FTSE Developed Ex-US Index selected and weighted by free cash flow.

FUND BASICS
Category International Equities
Fund Sponsor Pacer Financial
Website www.paceretfs.com
Inception date Jun 16, 2017
Assets (mns) $33
Currency USD
Expense ratio 65 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Fundamental
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $48,844
Large cap (>$10bn) 77.5%
Mid cap ($2-10bn) 22.5%
Small cap (<$2bn) 0.0%
Developed mkts 89.5%
Emerging mkts 10.5%

TOP TEN HOLDINGS
SONY CORP-SPONSORED ADR 2.5 %
HYNIX SEMICONDUCTOR INC 2.4 %
ITOCHU CORP 2.4 %
SAMSUNG ELECTRONICS CO LTD 2.2 %
NTT DOCOMO, INC. 2.2 %
ROCHE HOLDINGS LTD-SPONS ADR 2.1 %
VODAFONE GROUP PLC SPONSORED ADR 2.1 %
FIAT CHRYSLER AUTOMOBILES NV 2.1 %
ANGLO AMERICAN PLC 2.1 %
NIPPON TELEGRAPH AND TELEPHONE COR 2.1 %
Total 22.0 %

TOP COUNTRY EXPOSURE
JAPAN 24.4 %
BRITAIN 18.2 %
FRANCE 9.0 %
SOUTH KOREA 8.1 %
CANADA 7.2 %
AUSTRALIA 6.6 %
SWITZERLAND 4.3 %
SPAIN 3.0 %
GERMANY 2.6 %
SWEDEN 2.3 %

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.
13.2% 8.4% -- -- 4.2%

Market Correlations
versus... Beta R-squared
S&P500 0.86 62%
MSCI EAFE 1.13 82%
MSCI Emg. Mkts. 0.88 80%

Technical Indicators
Recent close $26.73
30d moving avg. $26.52
Annualized volatility 14.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.5%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $6,234

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Pacer Developed Markets Int'l Cash Cows 100 ETF based on the alternatives' overlap in portfolio holdings with ICOW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ICOW Expense: 65 bp ALTAR Score™: 9.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ICOW
Ticker Fund
Name
Overlap1
vs ICOW
(%)
Expense
ratio
(bp)
Savings
vs ICOW
(bp)
ALTAR
Score™
(%)
ALTAR
vs ICOW
(%)
GCOW Pacer Global Cash Cows Dividend 33.2 60 5 9.7 +0.3
FYLD Cambria Foreign Shareholder 18.6 59 6 8.0 -1.3
ESGN Columbia Sustainable International Equity Income 18.6 45 20 9.4 +0.1
FIVA Fidelity International Value Factor 15.4 39 26 9.2 -0.1
QINT American Century Quality Diversified International 15.0 39 26 6.5 -2.9
INTF iShares FactorSelect MSCI International 15.0 30 35 8.2 -1.2
ADRD BLDRs Developed Markets 100 ADR 13.9 30 35 8.9 -0.5
IVAL Valueshares Int'l Quantitative Value 13.9 59 6 9.0 -0.3
DMDV AAM S&P Developed Markets High Dividend Value 12.5 39 26 10.1 +0.7
JPIN JPMorgan Diversified Rtn. Int'l Equity 12.3 38 27 7.3 -2.0
IQDF FlexShares Int'l Quality Dividend 12.2 47 18 9.4 +0.1
CID Victory CEMP International High Div Volatility Wtd 11.8 45 20 8.8 -0.6
ISDX Invesco Strategic Developed ex-US 11.6 23 42 7.6 -1.7
IQIN IQ 500 International 11.6 25 40 8.3 -1.1
DIM WisdomTree Intl M/C Dividend 11.5 58 7 7.3 -2.0
IQDY FlexShares Int'l Quality Dividend Dynamic 11.5 47 18 8.8 -0.5
FDT First Trust Developed Markets ex-US AlphaDEX 11.4 80 -15 8.0 -1.4
DOO WisdomTree Int'l Dividend Ex-Financials 11.3 58 7 7.9 -1.4
ADRU BLDRs Europe 100 ADR 11.1 30 35 8.1 -1.3
GNR SPDR S&P Global Nat. Resources 10.8 40 25 6.4 -3.0

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:
Pacer Developed Markets Int'l Cash Cows 100
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 11.9 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 9.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 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.