FlexShares Int'l Quality Dividend
ALTAR
Score™
9.5% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.2x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
5.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FlexShares International Quality Dividend 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 Index.

FUND BASICS
Category International Equities
Fund Sponsor Northern Trust Investments Inc
Website www.flexshares.com
Inception date Apr 16, 2013
Assets (mns) $794
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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 196
Wgt avg mkt cap (mns) $45,216
Large cap (>$10bn) 60.6%
Mid cap ($2-10bn) 36.4%
Small cap (<$2bn) 3.0%
Developed mkts 72.5%
Emerging mkts 27.5%

TOP TEN HOLDINGS
GLAXOSMITHKLINE PLC 2.5 %
ROYAL BANK OF CANADA 2.3 %
ALLIANZ SE-REG 1.6 %
ROCHE HOLDING AG-GENUSSCHEIN 1.5 %
BP PLC 1.5 %
NESTLE SA-REG 1.0 %
PERSIMMON PLC 1.0 %
BRITISH AMERICAN TOBACCO PLC 1.0 %
NOVATEK MICROELECTRONICS LTD 1.0 %
SSE PLC 0.9 %
Total 14.5 %

TOP COUNTRY EXPOSURE
BRITAIN 14.5 %
JAPAN 13.7 %
AUSTRALIA 6.8 %
TAIWAN 6.3 %
FRANCE 5.6 %
CHINA 5.3 %
SWITZERLAND 4.8 %
CANADA 4.6 %
RUSSIA 4.1 %
TURKEY 3.4 %

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.
15.0% 8.3% 1.9% -- 2.5%

Market Correlations
versus... Beta R-squared
S&P500 0.78 62%
MSCI EAFE 1.03 91%
MSCI Emg. Mkts. 0.78 84%

Technical Indicators
Recent close $23.36
30d moving avg. $23.31
Annualized volatility 11.9%
Short interest (ETF) 0.1%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 89
Turnover 0.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $13,927

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the FlexShares Int'l Quality Dividend ETF based on the alternatives' overlap in portfolio holdings with IQDF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IQDF Expense: 47 bp ALTAR Score™: 9.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IQDF
Ticker Fund
Name
Overlap1
vs IQDF
(%)
Expense
ratio
(bp)
Savings
vs IQDF
(bp)
ALTAR
Score™
(%)
ALTAR
vs IQDF
(%)
IQDE FlexShares Int'l Quality Dividend Defensive 67.3 47 0 9.6 +0.2
IQDY FlexShares Int'l Quality Dividend Dynamic 57.9 47 0 8.9 -0.6
DTH WisdomTree DEFA Equity Income 29.0 58 -11 8.5 -0.9
DOL WisdomTree Int'l Large Cap Dividend 27.5 48 -1 7.7 -1.8
HDAW Xtrackers MSCI All World ex US High Div Yield 26.4 20 27 10.0 +0.5
IDY Pacific Global International Equity Income 26.4 39 8 8.2 -1.3
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 25.5 35 12 7.9 -1.6
DWM WisdomTree DEFA Fund 25.4 48 -1 7.6 -1.8
EFV iShares MSCI EAFE Value 24.5 38 9 9.0 -0.5
CID Victory CEMP International High Div Volatility Wtd 24.4 45 2 8.8 -0.6
DOO WisdomTree Int'l Dividend Ex-Financials 24.2 58 -11 8.0 -1.4
VYMI Vanguard Int'l High Dividend Yield 23.1 32 15 9.3 -0.2
OEUR O'Shares FTSE Europe Quality Dividend 22.0 48 -1 6.4 -3.1
HDEF Xtrackers MSCI EAFE High Div Yld Hedged 21.6 20 27 8.7 -0.8
RFDI First Trust Riverfront Dynamic Developed Int'l 21.5 83 -36 6.6 -2.9
PXF Invesco FTSE-RAFI Developed ex-US 21.3 45 2 8.1 -1.4
FNDF Schwab Fundamental Intl Large Cap 20.5 25 22 7.5 -2.0
FDEV Fidelity Targeted International Factor 20.2 39 8 6.9 -2.6
EFA iShares MSCI EAFE 19.7 31 16 6.9 -2.6
FIVA Fidelity International Value Factor 19.6 39 8 9.3 -0.2

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
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 14.2 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 9.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 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.