Inspire Small/Mid Cap Impact
ALTAR
Score™
4.5% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
22.4x P/Sales
ratio
0.9x
P/BV
ratio
1.7x Div.
yield
2.0%


  • 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 28, 2017
Assets (mns) $101
Currency USD
Expense ratio 61 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 499
Wgt avg mkt cap (mns) $2,253
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 53.8%
Small cap (<$2bn) 46.2%
Developed mkts 99.7%
Emerging mkts 0.3%

TOP TEN HOLDINGS
CLOVIS ONCOLOGY INC 0.4 %
MEDICINES COMPANY 0.3 %
FITBIT INC CLASS A 0.3 %
INTERCEPT PHARMACEUTICALS IN 0.3 %
INOGEN INC 0.3 %
SYNAPTICS INC 0.3 %
TENET HEALTHCARE CORP 0.3 %
RH 0.3 %
AIRCASTLE LTD 0.3 %
SILICON MOTION TECHNOL-ADR 0.3 %
Total 3.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.6 %
BERMUDA 0.6 %
CAYMAN ISLANDS 0.5 %
HONG KONG 0.3 %
PUERTO RICO 0.2 %
NETHERLANDS 0.2 %
CANADA 0.2 %
BRITAIN 0.1 %



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.
21.6% 6.5% -- -- 7.5%

Market Correlations
versus... Beta R-squared
S&P500 1.26 84%
MSCI EAFE 1.26 64%
MSCI Emg. Mkts. 0.85 45%

Technical Indicators
Recent close $28.09
30d moving avg. $27.44
Annualized volatility 19.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.3%
Bid/Ask (% of price) 0.40%
ADV underlying (mns) $10,808

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Inspire Small/Mid Cap Impact 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: 61 bp ALTAR Score™: 4.5%


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
(%)
IJR iShares Core S&P Small-Cap 48.6 7 54 5.6 +1.1
SLY SPDR S&P 600 Small Cap 48.4 15 46 5.6 +1.1
VIOO Vanguard S&P Small-Cap 600 48.2 15 46 5.6 +1.1
EWSC Invesco S&P Small Cap 600 Equal Weight 45.9 40 21 2.9 -1.6
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 44.1 29 32 4.0 -0.5
FYX First Trust Small Cap Core Alphadex 42.9 66 -5 5.3 +0.9
IWM iShares Russell 2000 42.7 19 42 3.5 -1.0
CSA Victory CEMP US Small Cap Volatility Wtd 42.3 35 26 7.0 +2.5
CSF Compass EMP US Discovery 500 Enhanced Vol. 41.9 35 26 7.0 +2.5
VTWO Vanguard Russell 2000 41.6 15 46 3.6 -0.9
TPSC Timothy Plan US Small Cap Core 41.3 52 9 6.6 +2.1
IWN iShares Russell 2000 Value 39.1 24 37 6.0 +1.6
RNSC Small Cap US Equity Select 39.1 60 1 5.9 +1.4
VTWV Vanguard Russell 2000 Value 38.8 20 41 6.1 +1.6
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 38.3 20 41 5.3 +0.8
FNDA Schwab Fundamental Small Cap 37.1 25 36 5.9 +1.4
SCHA Schwab U.S. Small-Cap 36.7 4 57 4.9 +0.4
SPSM SPDR Portfolio Small Cap 36.3 5 56 4.7 +0.2
PRFZ Invesco FTSE-RAFI Small-Mid 1500 35.8 39 22 4.5 -0.0
SLYV SPDR S&P600 Small Cap Value 35.5 15 46 6.7 +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

Content on this tab for subscribers only

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:
Inspire Small/Mid Cap Impact
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 8.3 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 61 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 CATEGORY
AVERAGE
1.56
 
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.