FlexShares Int'l Quality Dividend Defensive
ALTAR
Score™
9.6% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.2x P/Sales
ratio
1.2x
P/BV
ratio
1.5x Div.
yield
5.7%


  • 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) $79
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 193
Wgt avg mkt cap (mns) $50,974
Large cap (>$10bn) 60.5%
Mid cap ($2-10bn) 35.8%
Small cap (<$2bn) 3.7%
Developed mkts 71.7%
Emerging mkts 28.4%

TOP TEN HOLDINGS
GLAXOSMITHKLINE PLC 2.6 %
NESTLE SA-REG 2.3 %
ROYAL BANK OF CANADA 2.1 %
BP PLC 1.5 %
TOTAL SA 1.4 %
ENEL SPA 1.4 %
ROCHE HOLDING AG-GENUSSCHEIN 1.4 %
KDDI CORPORATION 1.2 %
COMMONWEALTH BANK OF AUSTRAL 1.1 %
NOVATEK MICROELECTRONICS LTD 1.1 %
Total 16.1 %

TOP COUNTRY EXPOSURE
JAPAN 14.0 %
BRITAIN 13.3 %
AUSTRALIA 7.3 %
SWITZERLAND 5.5 %
TAIWAN 4.9 %
CANADA 4.8 %
FRANCE 4.6 %
RUSSIA 4.3 %
CHINA 4.3 %
FINLAND 4.0 %

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.
11.9% 7.2% 1.2% -- 1.8%

Market Correlations
versus... Beta R-squared
S&P500 0.63 53%
MSCI EAFE 0.88 85%
MSCI Emg. Mkts. 0.69 83%

Technical Indicators
Recent close $21.97
30d moving avg. $21.98
Annualized volatility 10.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.2%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $12,537

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the FlexShares Int'l Quality Dividend Defensive 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™: 9.6%


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 Int'l Quality Dividend 67.3 47 0 9.5 -0.2
IQDY FlexShares Int'l Quality Dividend Dynamic 45.7 47 0 8.9 -0.7
QLVD FlexShares Developed Mkts ex-US Quality Low Volatility 29.0 32 15 6.6 -3.0
DOL WisdomTree Int'l Large Cap Dividend 28.7 48 -1 7.7 -1.9
DTH WisdomTree DEFA Equity Income 27.7 58 -11 8.5 -1.1
IDY Pacific Global International Equity Income 26.0 39 8 8.2 -1.4
FDEV Fidelity Targeted International Factor 25.8 39 8 6.9 -2.8
EFV iShares MSCI EAFE Value 25.7 38 9 9.0 -0.7
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 25.4 35 12 7.9 -1.8
DWM WisdomTree DEFA Fund 25.2 48 -1 7.6 -2.0
VYMI Vanguard Int'l High Dividend Yield 24.2 32 15 9.3 -0.3
OEUR O'Shares FTSE Europe Quality Dividend 23.9 48 -1 6.4 -3.3
HDAW Xtrackers MSCI All World ex US High Div Yield 22.3 20 27 10.0 +0.4
RFDI First Trust Riverfront Dynamic Developed Int'l 22.2 83 -36 6.6 -3.1
LVIN Hartford Multifactor Low Volatility Int'l Equity 22.1 29 18 9.1 -0.5
IDV iShares DJ Int'l Select Dividend 22.0 49 -2 8.4 -1.2
PXF Invesco FTSE-RAFI Developed ex-US 21.7 45 2 8.1 -1.5
DOO WisdomTree Int'l Dividend Ex-Financials 21.6 58 -11 8.0 -1.6
QEFA SPDR MSCI EAFE Quality Mix 21.5 30 17 6.6 -3.1
FNDF Schwab Fundamental Intl Large Cap 21.3 25 22 7.5 -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

  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:
FlexShares Int'l Quality Dividend Defensive
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 13.9 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 9.6 %
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.