Inspire Small/Mid Cap Impact ETF
ALTAR
Score™
4.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
66.0x P/Sales
ratio
1.1x
P/BV
ratio
1.7x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Inspire Small/Mid Cap Impact ETF tracks an equal-weighted index of 500 small- and midcap US stocks that are screened for alignment with biblical values and positive impact on the world according to various ESG criteria.

FUND BASICS
Category US Equities
Fund Sponsor Northern Lights
Website www.inspireetf.com
Inception date Feb 27, 2017
Assets (mns) $88
Currency USD
Expense ratio 60 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 300
Wgt avg mkt cap (mns) $2,213
Large cap (>$10bn) 0.6%
Mid cap ($2-10bn) 49.8%
Small cap (<$2bn) 49.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSTRATEGY INC-CL A 0.8 %
CATHAY GENERAL BANCORP 0.8 %
COMMUNITY BANK SYSTEM INC 0.6 %
CNO FINANCIAL GROUP INC 0.6 %
ASSOCIATED BANC-CORP 0.6 %
BADGER METER INC 0.6 %
WESTAMERICA BANCORPORATION 0.6 %
SERVISFIRST BANCSHARES INC 0.6 %
NORTHWEST BANCSHARES INC 0.6 %
CABOT CORP 0.6 %
Total 6.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.5 %
PUERTO RICO 0.5 %
CAYMAN ISLANDS 0.5 %
CANADA 0.3 %
BERMUDA 0.2 %
NETHERLANDS 0.2 %





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.
-0.3% 2.1% -- -- 5.8%

Market Correlations
versus... Beta R-squared
S&P500 1.25 86%
MSCI EAFE 1.23 81%
MSCI Emg. Mkts. 0.97 64%

Technical Indicators
Recent close $28.44
30d moving avg. $25.95
Annualized volatility 25.3%
Short interest (ETF) 0.9%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 46
Turnover 1.5%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $6,673

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Inspire Small/Mid Cap Impact ETF ETF based on the alternatives' overlap in portfolio holdings with ISMD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ISMD Expense: 60 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ISMD
Ticker Fund
Name
Overlap1
vs ISMD
(%)
Expense
ratio
(bp)
Savings
vs ISMD
(bp)
ALTAR
Score™
(%)
ALTAR
vs ISMD
(%)
SPSM SPDR Portfolio Small Cap ETF 35.1 5 55 6.5 +2.2
SLY SPDR S&P 600 Small Cap ETF 35.1 15 45 6.4 +2.1
IJR iShares Core S&P Small Cap ETF 35.0 6 54 6.5 +2.1
VIOO Vanguard S&P Small-Cap 600 ETF 34.6 10 50 6.5 +2.1
VIOG Vanguard S&P Small-Cap 600 Growth ETF 32.5 16 44 5.1 +0.7
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 30.6 40 20 5.7 +1.4
SLYG SPDR S&P 600 Small Cap Growth ETF 29.5 15 45 5.1 +0.7
IJT iShares S&P Small-Cap 600 Growth ETF 29.5 25 35 5.0 +0.6
VIOV Vanguard S&P Small-Cap 600 Value ETF 29.1 15 45 8.0 +3.6
IJS iShares S&P Small-cap 600 Value ETF 28.7 25 35 7.8 +3.4
SLYV SPDR S&P 600 Small Cap Value ETF 28.7 15 45 8.0 +3.6
TPSC Timothy Plan US Small Cap Core ETF 28.2 52 8 6.6 +2.2
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 27.7 35 25 6.9 +2.6
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 27.3 29 31 4.6 +0.2
SSLY Syntax Stratified SmallCap ETF 26.7 30 30 5.5 +1.2
FYX First Trust Small Cap Core AlphaDEX Fund 26.4 63 -3 6.5 +2.2
FYT First Trust Small Cap Value AlphaDEX Fund 25.3 72 -12 9.2 +4.8
RWJ Invesco S&P SmallCap 600 Revenue ETF 24.3 39 21 5.7 +1.3
EES WisdomTree SmallCap Earnings Fund 23.5 38 22 8.9 +4.5
RNSC Small Cap US Equity Select ETF 23.3 60 0 6.8 +2.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 23.2 35 25 5.5 +1.2
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 22.8 35 25 6.9 +2.6
IWN iShares Russell 2000 Value ETF 22.8 24 36 5.8 +1.4
IWM iShares Russell 2000 ETF 22.3 19 41 3.0 -1.3
VTWO Vanguard Russell 2000 Index Fund 21.9 10 50 3.1 -1.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 21.9 20 40 4.4 0.0
DES WisdomTree U.S. SmallCap Dividend Fund 20.6 38 22 7.5 +3.1
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 20.5 12 48 6.7 +2.3
IWO iShares Russell 2000 Growth ETF 20.4 24 36 0.0 -4.4
CSML IQ Chaikin U.S. Small Cap ETF 20.2 35 25 3.3 -1.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 20.0 25 35 5.7 +1.3
AVUV Avantis U.S. Small Cap Value ETF 19.9 25 35 7.3 +3.0
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 19.4 29 31 -0.3 -4.6
IUSS Invesco Strategic US Small Company ETF 19.2 23 37 4.4 +0.0
PSC Principal U.S. Small Cap Index ETF 19.0 38 22 5.1 +0.7
AFSM First Trust Active Factor Small Cap ETF 18.9 75 -15 5.2 +0.9
STSB iShares Factors US Small Blend Style ETF 18.8 35 25 3.3 -1.1
XSLV Invesco S&P SmallCap Low Volatility ETF 18.6 25 35 5.2 +0.8
VTWV Vanguard Russell 2000 Value Index Fund 18.5 15 45 5.9 +1.5
ROGS Hartford Multifactor Global Small Cap ETF 18.1 34 26 7.6 +3.2
VTWG Vanguard Russell 2000 Growth Index Fund 18.1 15 45 0.1 -4.3
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 18.0 30 30 7.1 +2.7
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 18.0 39 21 4.0 -0.3
SCHA Schwab U.S. Small-Cap ETF 17.9 4 56 4.3 -0.1
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 17.1 24 36 5.7 +1.3
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 16.6 38 22 7.4 +3.1
NUSC Nuveen ESG Small-Cap ETF 15.4 40 20 4.4 -0.0
EWMC Invesco S&P MidCap 400 Equal Weight ETF 15.2 40 20 6.3 +1.9
PSCF Invesco S&P SmallCap Financials ETF 14.7 29 31 9.9 +5.5
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 14.6 29 31 5.5 +1.2
JKJ iShares Morningstar Small-Cap ETF 14.4 25 35 5.8 +1.5
PBSM Invesco PureBeta MSCI USA Small Cap ETF 14.3 6 54 4.6 +0.3
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 14.3 20 40 4.8 +0.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 14.2 17 43 4.4 +0.0
RZG Invesco S&P Smallcap 600 Pure Growth ETF 14.1 35 25 5.4 +1.0
BKSE BNY Mellon US Small Cap Core Equity ETF 14.0 4 56 5.2 +0.9
XSHQ Invesco S&P SmallCap Quality ETF 14.0 29 31 6.2 +1.9
SQLV Legg Mason Small-Cap Quality Value 13.6 62 -2 5.4 +1.0
JKK iShares Morningstar Small-Cap Growth ETF 12.9 30 30 1.1 -3.3
FSMD Fidelity Small-Mid Factor ETF 12.8 29 31 5.9 +1.5
VBR Vanguard Small Cap Value Index Fund 12.5 7 53 7.2 +2.9
JHSC John Hancock Multifactor Small Cap ETF 12.2 42 18 5.2 +0.8
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 12.2 80 -20 5.2 +0.8
FYC First Trust Small Cap Growth AlphaDEX Fund 11.8 70 -10 2.3 -2.1
PSCI Invesco S&P SmallCap Industrials ETF 11.7 29 31 5.8 +1.5
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 11.7 35 25 8.2 +3.8
SMDY Syntax Stratified MidCap ETF 11.4 30 30 6.0 +1.6
VB Vanguard Small-Cap ETF 10.9 5 55 5.0 +0.6
PSCT Invesco S&P SmallCap Information Technology ETF 10.8 29 31 5.0 +0.7
MDYV SPDR S&P 400 Mid Cap Value ETF 10.7 15 45 7.4 +3.1
IJJ iShares S&P Mid-Cap 400 Value ETF 10.7 25 35 7.3 +3.0
BFOR Barron's 400 ETF 10.5 65 -5 6.3 +1.9
EZM WisdomTree U.S. MidCap Earnings Fund 10.4 38 22 7.7 +3.3
RWK Invesco S&P MidCap 400 Revenue ETF 10.3 39 21 6.9 +2.5
AFMC First Trust Active Factor Mid Cap ETF 9.9 65 -5 5.9 +1.6
XSVM Invesco S&P SmallCap Value with Momentum ETF 9.7 39 21 8.3 +4.0
VBK Vanguard Small-Cap Growth Index Fund 9.7 7 53 2.2 -2.2
IVOV Vanguard S&P Mid-Cap 400 Value ETF 9.3 15 45 7.4 +3.1
SPMD SPDR Portfolio Mid Cap ETF 9.2 5 55 6.0 +1.6
VFQY Vanguard U.S. Quality Factor ETF 9.2 13 47 5.8 +1.4
PXSG Invesco S&P SmallCap Momentum ETF 9.2 39 21 4.3 -0.1
MDY SPDR S&P Midcap 400 ETF Trust 9.2 23 37 5.8 +1.4
IJH iShares Core S&P Mid-Cap ETF 9.2 5 55 6.0 +1.6
FAB First Trust Multi Cap Value AlphaDEX Fund 9.1 71 -11 8.3 +3.9
JKL iShares Morningstar Small Cap Value ETF 9.1 30 30 8.5 +4.2
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 9.1 29 31 7.9 +3.5
VUSE Vident Core US Equity Fund 9.0 48 12 8.2 +3.8
IVOO Vanguard S&P Mid-Cap 400 ETF 8.8 10 50 5.9 +1.5
VFMF Vanguard U.S. Multifactor ETF 8.7 19 41 6.7 +2.4
FNX First Trust Mid Cap Core AlphaDEX Fund 8.6 61 -1 5.8 +1.4
DWAS Invesco DWA SmallCap Momentum ETF 8.5 60 0 -1.4 -5.7
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 8.1 39 21 4.8 +0.5
VXF Vanguard Extended Market Index Fund 7.9 6 54 2.9 -1.5
JSML Janus Henderson Small Cap Growth Alpha ETF 7.8 30 30 7.2 +2.9
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 7.5 20 40 7.4 +3.0
CALF Pacer US Small Cap Cash Cows 100 ETF 7.4 59 1 8.4 +4.0
IFRA iShares U.S. Infrastructure ETF 7.2 40 20 5.1 +0.7
SMDV ProShares Russell 2000 Dividend Growers ETF 7.2 41 19 6.0 +1.7
FNY First Trust Mid Cap Growth AlphaDEX Fund 7.1 70 -10 2.0 -2.3

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:
Inspire Small/Mid Cap Impact ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.9 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.50
 
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.