Alpha Architect International Quantitative Momentum ETF
ALTAR
Score™
3.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
28.8x P/Sales
ratio
1.8x
P/BV
ratio
3.5x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The MomentumShares International Quantitative Momentum ETF is an actively managed fund that uses quantitative analysis to build a portfolio of International stocks exhibiting positive price momentum.

FUND BASICS
Category International Equities
Fund Sponsor Alpha Architect
Website www.alphaarchitect.com
Inception date Dec 22, 2015
Assets (mns) $77
Currency USD
Expense ratio 59 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 46
Wgt avg mkt cap (mns) $16,173
Large cap (>$10bn) 42.0%
Mid cap ($2-10bn) 41.3%
Small cap (<$2bn) 6.7%
Developed mkts 97.9%
Emerging mkts 2.1%

TOP TEN HOLDINGS
SWECO AB-B SHS 2.8 %
TECMO KOEI HOLDINGS CO LTD 2.8 %
LONZA GROUP AG-REG 2.6 %
AVANZA BANK HOLDING AB 2.6 %
NEL ASA 2.6 %
FORTESCUE METALS GROUP LTD 2.6 %
KESKO OYJ-B SHS 2.6 %
VARTA AG 2.5 %
KOJAMO OYJ 2.4 %
GENMAB A/S 2.4 %
Total 26.1 %

TOP COUNTRY EXPOSURE
JAPAN 22.7 %
SWEDEN 16.8 %
BRITAIN 7.7 %
GERMANY 7.1 %
FINLAND 7.0 %
BELGIUM 5.9 %
SWITZERLAND 4.8 %
AUSTRALIA 4.6 %
NETHERLANDS 4.3 %
NORWAY 2.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
1.3% 6.4% -- -- 2.4%

Market Correlations
versus... Beta R-squared
S&P500 0.94 75%
MSCI EAFE 1.04 78%
MSCI Emg. Mkts. 0.76 68%

Technical Indicators
Recent close $27.98
30d moving avg. $27.22
Annualized volatility 18.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.3%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $2,458

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Alpha Architect International Quantitative Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with IMOM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IMOM Expense: 59 bp ALTAR Score™: 3.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IMOM
Ticker Fund
Name
Overlap1
vs IMOM
(%)
Expense
ratio
(bp)
Savings
vs IMOM
(bp)
ALTAR
Score™
(%)
ALTAR
vs IMOM
(%)
FEP First Trust Europe AlphaDEX Fund 11.8 80 -21 7.4 +4.0
IMTM iShares Edge MSCI Intl Momentum Factor ETF 11.0 30 29 4.3 +1.0
IDMO Invesco S&P International Developed Momentum ETF 10.4 26 33 4.5 +1.1
FDT First Trust Developed Markets ex-US Alphadex Fund 8.9 80 -21 7.3 +4.0
QINT American Century Quality Diversified International ETF 8.1 39 20 5.7 +2.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 8.1 58 1 7.8 +4.5
EWD iShares MSCI Sweden ETF 8.0 55 4 11.4 +8.1
PIZ Invesco DWA Developed Markets Momentum ETF 7.8 81 -22 4.6 +1.3
EFG iShares MSCI EAFE Growth ETF 7.5 40 19 4.5 +1.2
FEUZ First Trust Eurozone AlphaDEX ETF 7.4 80 -21 7.4 +4.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 7.1 30 29 6.1 +2.7
FJP First Trust Japan AlphaDEX Fund 7.0 80 -21 9.0 +5.7
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 6.9 83 -24 5.5 +2.1
IDHQ Invesco S&P International Developed Quality ETF 6.9 29 30 5.1 +1.7
EWK iShares MSCI Belgium Capped ETF 6.1 49 10 6.8 +3.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 5.9 70 -11 2.3 -1.1
UIVM VictoryShares USAA MSCI International Value Momentum ETF 5.9 35 24 8.6 +5.3
EUDG WisdomTree Europe Quality Dividend Growth Fund 5.6 58 1 6.1 +2.7
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 5.4 35 24 7.1 +3.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 5.4 58 1 6.3 +3.0
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 5.4 61 -2 4.8 +1.5
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.2 58 1 7.8 +4.5
IQDG WisdomTree International Quality Dividend Growth Fund 5.2 38 21 6.4 +3.1
RFDI First Trust Riverfront Dynamic Developed International ETF 5.0 83 -24 5.6 +2.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 4.9 14 45 7.0 +3.6
SCID Global X Scientific Beta Europe ETF 4.9 39 20 6.4 +3.0
RBIN Nationwide Risk-Based International Equity ETF 4.8 42 17 6.2 +2.8
SMEZ SPDR EURO STOXX Small Cap ETF 4.7 45 14 6.2 +2.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 4.7 25 34 6.5 +3.1
FKU First Trust United Kingdom AlphaDEX Fund 4.7 80 -21 8.4 +5.1
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 4.7 80 -21 7.4 +4.0
FGM First Trust Germany AlphaDEX Fund 4.6 80 -21 6.1 +2.8
EFNL iShares MSCI Finland Capped ETF 4.6 53 6 6.1 +2.7
DBEU Xtrackers MSCI Europe Hedged Equity ETF 4.6 45 14 6.6 +3.2
BETZ Roundhill Sports Betting & iGaming ETF 4.5 75 -16 8.4 +5.1
QEFA SPDR MSCI EAFE Quality Mix ETF 4.5 30 29 6.9 +3.6
FLEH Franklin FTSE Europe Hedged ETF 4.5 9 50 7.1 +3.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 4.5 30 29 6.8 +3.4
EWA iShares MSCI Australia ETF 4.4 50 9 6.1 +2.7
NUDM Nuveen ESG International Developed Markets Equity ETF 4.4 40 19 6.8 +3.5
VIGI Vanguard International Dividend Appreciation ETF 4.4 25 34 5.6 +2.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 4.3 20 39 7.1 +3.7
FLEE Franklin FTSE Europe ETF 4.3 9 50 7.0 +3.6
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 4.3 30 29 0.0 -3.4
FSZ First Trust Switzerland AlphaDEX Fund 4.3 80 -21 5.5 +2.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 4.2 35 24 6.9 +3.6
BBEU JPMorgan BetaBuilders Europe ETF 4.2 9 50 7.3 +3.9
RNDM Developed International Equity Select ETF 4.2 65 -6 6.3 +2.9
IEUR iShares Core MSCI Europe ETF 4.2 9 50 7.2 +3.9
ESGD iShares MSCI EAFE ESG Optimized ETF 4.2 20 39 6.9 +3.6
IEV iShares Europe ETF 4.1 59 0 6.8 +3.5
CIL VictoryShares International Volatility Weighted Index ETF 4.1 45 14 6.8 +3.5
VGK Vanguard FTSE Europe ETF 4.1 8 51 7.4 +4.0
IQSI IQ Candriam ESG International Equity ETF 4.1 15 44 7.3 +3.9
GSID Goldman Sachs MarketBeta International Equity ETF 4.1 20 39 7.4 +4.0
FDEV Fidelity Targeted International Factor ETF 4.1 39 20 6.6 +3.2
FLAU Franklin FTSE Australia ETF 4.0 9 50 6.6 +3.2
EFA iShares MSCI EAFE ETF 4.0 32 27 7.1 +3.7
FEU SPDR Portfolio Europe ETF 4.0 9 50 7.3 +3.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 4.0 45 14 6.7 +3.3
EWGS iShares MSCI Germany Small Cap ETF 4.0 59 0 5.0 +1.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.9 39 20 6.5 +3.1
RFEU First Trust Riverfront Dynamic Europe ETF 3.9 83 -24 5.3 +1.9
DWCR Arrow DWA Country Rotation ETF 3.9 95 -36 13.7 +10.3
BKIE BNY Mellon International Equity ETF 3.8 4 55 7.4 +4.0
IEFA iShares Core MSCI EAFE ETF 3.8 7 52 7.3 +4.0
EURZ Xtrackers Eurozone Equity ETF 3.8 9 50 7.0 +3.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 3.7 7 52 7.6 +4.2
JPIN JPMorgan Diversified Return International Equity ETF 3.7 37 22 7.9 +4.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.7 25 34 6.6 +3.2
HFXI IQ 50 Percent Hedged FTSE International ETF 3.7 20 39 7.4 +4.0
JHMD John Hancock Multifactor Developed International ETF 3.7 39 20 7.5 +4.1
MVIN Natixis Seeyond International Minimum Volatility ETF 3.5 56 3 5.4 +2.0
IDEV iShares Core MSCI International Developed Markets ETF 3.5 5 54 7.2 +3.9
SCHF Schwab International Equity ETF 3.4 6 53 7.4 +4.0
EPP iShares MSCI Pacific ex-Japan ETF 3.4 48 11 6.5 +3.2
EZU iShares MSCI Eurozone ETF 3.4 49 10 6.6 +3.2
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 3.4 19 40 6.8 +3.5
HTEC ROBO Global Healthcare Technology & Innovation ETF 3.4 68 -9 0.1 -3.2
VEA Vanguard FTSE Developed Markets ETF 3.2 5 54 7.4 +4.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 3.2 24 35 7.2 +3.8
DIM WisdomTree International MidCap Dividend Fund 3.2 58 1 7.7 +4.4
SPDW SPDR Portfolio Developed World ex-US ETF 3.2 4 55 7.1 +3.8
IPAC iShares Core MSCI Pacific ETF 3.2 9 50 7.4 +4.0
IDLB Invesco FTSE International Low Beta Equal Weight ETF 3.2 45 14 7.2 +3.8
INTF iShares Edge MSCI Multifactor Intl ETF 3.1 30 29 7.7 +4.4
HEDJ WisdomTree Europe Hedged Equity Fund 3.1 58 1 6.9 +3.5
SCIJ Global X Scientific Beta Japan ETF 3.1 40 19 7.3 +4.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.1 47 12 12.6 +9.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 3.0 16 43 6.8 +3.5
IXJ iShares Global Healthcare ETF 3.0 46 13 6.2 +2.9
PQIN PGIM QMA Strategic Alpha International Equity ETF 3.0 29 30 7.7 +4.4
EWN iShares MSCI Netherlands ETF 3.0 50 9 5.2 +1.8
SDG iShares Sustainable MSCI Global Impact ETF 2.9 49 10 5.6 +2.2
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.9 65 -6 10.7 +7.4
IEUS iShares MSCI Europe Small-Cap ETF 2.8 40 19 7.7 +4.4
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 2.8 58 1 8.6 +5.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 2.7 20 39 5.5 +2.2

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:
Alpha Architect International Quantitative Momentum ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.3 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.80 CATEGORY
AVERAGE
1.59
 
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.