FlexShares International Quality Dividend Defensive Index Fd
ALTAR
Score™
12.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
8.7x P/Sales
ratio
0.9x
P/BV
ratio
1.4x Div.
yield
7.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FlexShares International Quality Dividend Defensive Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Northern Trust International Quality Dividend Defensive Index.

FUND BASICS
Category International Equities
Fund Sponsor Northern Trust Investments Inc
Website www.flexshares.com
Inception date Apr 16, 2013
Assets (mns) $67
Currency USD
Expense ratio 47 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 183
Wgt avg mkt cap (mns) $53,082
Large cap (>$10bn) 57.1%
Mid cap ($2-10bn) 39.7%
Small cap (<$2bn) 3.2%
Developed mkts 72.2%
Emerging mkts 27.9%

TOP TEN HOLDINGS
NESTLE SA-REG 3.0 %
GLAXOSMITHKLINE PLC 2.8 %
ROYAL BANK OF CANADA 2.3 %
ROCHE HOLDING AG-GENUSSCHEIN 2.0 %
KDDI CORPORATION 1.4 %
RIO TINTO PLC 1.3 %
L'OREAL 1.2 %
ASTELLAS PHARMA INC 1.1 %
KONE OYJ-B 1.1 %
NTT DOCOMO, INC. 1.1 %
Total 17.2 %

TOP COUNTRY EXPOSURE
JAPAN 14.5 %
BRITAIN 11.5 %
SWITZERLAND 6.8 %
AUSTRALIA 5.5 %
TAIWAN 5.2 %
CHINA 5.2 %
CANADA 4.4 %
FINLAND 4.1 %
RUSSIA 3.9 %
FRANCE 3.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-17.4% -7.9% -1.3% -- -0.4%

Market Correlations
versus... Beta R-squared
S&P500 0.80 75%
MSCI EAFE 0.96 92%
MSCI Emg. Mkts. 0.76 89%

Technical Indicators
Recent close $19.59
30d moving avg. $18.13
Annualized volatility 15.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.4%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $18,104

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the FlexShares International Quality Dividend Defensive Index Fd ETF based on the alternatives' overlap in portfolio holdings with IQDE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IQDE Expense: 47 bp ALTAR Score™: 12.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IQDE
Ticker Fund
Name
Overlap1
vs IQDE
(%)
Expense
ratio
(bp)
Savings
vs IQDE
(bp)
ALTAR
Score™
(%)
ALTAR
vs IQDE
(%)
IQDF FlexShares International Quality Dividend Index Fund 68.6 47 0 12.9 +0.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 45.1 47 0 13.5 +0.8
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 27.3 32 15 6.5 -6.2
DOL WisdomTree International LargeCap Dividend Fund 26.9 48 -1 8.5 -4.2
DTH WisdomTree DEFA Equity Income Fund 24.1 58 -11 9.6 -3.2
DWM WisdomTree International Equity Fund 23.8 48 -1 8.2 -4.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 23.6 35 12 8.6 -4.1
OEUR O'shares FTSE Europe Quality Dividend ETF 22.7 48 -1 6.6 -6.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 22.4 20 27 10.9 -1.8
VYMI Vanguard International High Dividend Yield ETF 22.2 32 15 10.1 -2.6
QEFA SPDR MSCI EAFE Quality Mix ETF 22.1 30 17 6.8 -6.0
FDEV Fidelity Targeted International Factor ETF 21.8 39 8 6.5 -6.2
IDY Pacific Global International Equity Income ETF 21.7 39 8 8.0 -4.7
EFV iShares MSCI EAFE Value ETF 21.3 39 8 10.0 -2.7
RFDI First Trust Riverfront Dynamic Developed International ETF 21.3 83 -36 6.3 -6.4
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 20.9 48 -1 0.0 -12.7
FIVA Fidelity International Value Factor ETF 20.2 39 8 10.2 -2.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 20.0 45 2 8.8 -3.9
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 20.0 20 27 9.3 -3.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 19.8 30 17 6.2 -6.5
EFAV iShares Edge MSCI Min Vol EAFE ETF 19.8 20 27 5.9 -6.9
PDEV Principal International Multi-Factor Core Index ETF 19.5 25 22 7.9 -4.9
FNDF Schwab Fundamental International Large Co. Index ETF 19.4 25 22 8.7 -4.1
EFA iShares MSCI EAFE ETF 19.4 32 15 7.2 -5.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 19.2 35 12 7.0 -5.7
IEV iShares Europe ETF 19.2 59 -12 6.8 -5.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 19.1 29 18 8.6 -4.1
HFXI IQ 50 Percent Hedged FTSE International ETF 19.0 20 27 7.5 -5.2
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 19.0 30 17 6.8 -5.9
DWMF WisdomTree International Multifactor Fund 19.0 38 9 6.8 -5.9
FLEE Franklin FTSE Europe ETF 18.9 9 38 7.0 -5.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 18.9 29 18 12.2 -0.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 18.8 45 2 6.8 -6.0
ESGD iShares MSCI EAFE ESG Optimized ETF 18.8 20 27 7.2 -5.6
FLEH Franklin FTSE Europe Hedged ETF 18.8 9 38 7.2 -5.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 18.7 25 22 6.7 -6.0
BBEU JPMorgan BetaBuilders Europe ETF 18.7 9 38 7.3 -5.5
IQSI IQ Candriam ESG International Equity ETF 18.6 15 32 7.3 -5.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 18.2 7 40 7.6 -5.2
SCHF Schwab International Equity ETF 18.2 6 41 7.4 -5.3
RFEU First Trust Riverfront Dynamic Europe ETF 18.1 83 -36 5.0 -7.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 18.0 20 27 7.3 -5.5
CWI SPDR MSCI ACWI ex-US ETF 17.9 30 17 7.6 -5.1
ACWX iShares MSCI ACWI ex U.S. ETF 17.9 32 15 7.5 -5.2
DOO WisdomTree International Dividend ex-Financials Fund 17.9 58 -11 8.7 -4.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 17.8 25 22 6.8 -5.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 17.7 40 7 7.4 -5.3
IEUR iShares Core MSCI Europe ETF 17.7 9 38 7.3 -5.5
VGK Vanguard FTSE Europe ETF 17.3 8 39 7.3 -5.5
FEU SPDR Portfolio Europe ETF 17.0 9 38 7.3 -5.5
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 17.0 45 2 9.8 -3.0
IEFA iShares Core MSCI EAFE ETF 17.0 7 40 7.3 -5.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 16.8 39 8 6.7 -6.1
EUMV iShares Edge MSCI Min Vol Europe ETF 16.7 25 22 5.5 -7.3
IDEV iShares Core MSCI International Developed Markets ETF 16.6 5 42 7.3 -5.5
IQIN IQ 500 International ETF 16.5 25 22 9.0 -3.8
VEU Vanguard FTSE All-World ex-US Index Fund 16.5 8 39 7.7 -5.0
QINT American Century Quality Diversified International ETF 16.4 39 8 5.9 -6.8
RNDM Developed International Equity Select ETF 16.3 65 -18 6.4 -6.4
VEA Vanguard FTSE Developed Markets ETF 16.3 5 42 7.4 -5.3
IGRO iShares International Dividend Growth ETF 16.0 22 25 8.0 -4.7
JHMD John Hancock Multifactor Developed International ETF 16.0 45 2 7.4 -5.3
IXUS ishares Core MSCI Total International Stock ETF 16.0 9 38 7.6 -5.2
SPDW SPDR Portfolio Developed World ex-US ETF 16.0 4 43 7.2 -5.5
IDV iShares International Select Dividend ETF 15.9 49 -2 12.3 -0.5
IDHQ Invesco S&P International Developed High Quality ETF 15.8 29 18 5.4 -7.3
ISDX Invesco Strategic Developed ex-US ETF 15.8 23 24 7.4 -5.3
VXUS Vanguard Total International Stock Index Fund 15.7 8 39 7.7 -5.0
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 15.7 30 17 7.4 -5.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 15.5 14 33 7.0 -5.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 15.5 80 -33 6.0 -6.7
IDLV Invesco S&P International Developed Low Volatility ETF 14.6 25 22 6.9 -5.9
JPEU JPMorgan Diversified Return Europe Equity ETF 14.6 37 10 6.8 -5.9
NUDM Nuveen ESG International Developed Markets Equity ETF 14.5 40 7 6.9 -5.9
RBIN Nationwide Risk-Based International Equity ETF 14.5 42 5 6.5 -6.3
VSGX Vanguard ESG International Stock ETF 14.5 17 30 7.4 -5.3
DWX SPDR S&P International Dividend ETF 14.0 45 2 7.7 -5.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 14.0 16 31 7.1 -5.6
EFAS Global X MSCI SuperDividend EAFE ETF 13.8 55 -8 9.8 -3.0
LVHI Legg Mason International Low Volatility High Dividend ETF 13.8 40 7 10.2 -2.5
EFAD ProShares MSCI EAFE Dividend Growers ETF 13.5 50 -3 6.6 -6.1
CIL VictoryShares International Volatility Weighted Index ETF 13.4 45 2 6.7 -6.0
JPIN JPMorgan Diversified Return International Equity ETF 13.3 38 9 8.0 -4.8
IDMO Invesco S&P International Developed Momentum ETF 13.3 25 22 4.7 -8.1
MVIN Natixis Seeyond International Minimum Volatility ETF 13.3 55 -8 5.8 -7.0
FYLD Cambria Foreign Shareholder Yield ETF 13.1 59 -12 9.3 -3.5
IVLU iShares Edge MSCI Intl Value Factor ETF 12.7 30 17 11.3 -1.5
FGD First Trust Dow Jones Global Select Dividend Index Fund 12.6 58 -11 9.9 -2.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 12.5 39 8 9.1 -3.7
JPGE JPMorgan Diversified Return Global Equity ETF 12.4 29 18 7.3 -5.4
DEW WisdomTree Global High Dividend Fund 12.3 58 -11 9.0 -3.7
FIDI Fidelity International High Dividend ETF 12.2 39 8 10.8 -1.9
INTF iShares Edge MSCI Multifactor Intl ETF 12.2 30 17 8.3 -4.4
VIGI Vanguard International Dividend Appreciation ETF 12.0 25 22 5.9 -6.8
IDOG ALPS International Sector Dividend Dogs ETF 11.9 50 -3 11.0 -1.8
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 11.9 83 -36 7.1 -5.6
EFG iShares MSCI EAFE Growth ETF 11.7 40 7 4.7 -8.0
EUDV ProShares MSCI Europe Dividend Growers ETF 11.5 55 -8 6.9 -5.9
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 11.4 51 -4 13.4 +0.7

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

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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:
FlexShares International Quality Dividend Defensive Index Fd
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 17.2 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 12.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.61 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.