Valueshares Int'l Quantitative Value
ALTAR
Score™
8.9% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
10.7x P/Sales
ratio
0.8x
P/BV
ratio
1.3x Div.
yield
3.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ValueShares International Quantitative Value ETF is an actively managed exchange traded fund incorporated in the USA. The ETF holds mid to large-cap developed markets (excluding U.S. and Canada) stocks and will invest in approximately 50 of the top equity securities as determined by its quantitative value system. The ETF weights the holdings equally and follows a semi-annual rebalance schedule.

FUND BASICS
Category International Equities
Fund Sponsor Alpha Architect LLC
Website www.alphaarchitect.com
Inception date Dec 17, 2014
Assets (mns) $100
Currency USD
Expense ratio 59 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian US Bank NA/Milwaukee WI
Weighting Proprietary
Index replication Not Applicable
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 46
Wgt avg mkt cap (mns) $18,586
Large cap (>$10bn) 38.2%
Mid cap ($2-10bn) 56.0%
Small cap (<$2bn) 5.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
REDROW PLC 2.7 %
PERSIMMON PLC 2.7 %
TAYLOR WIMPEY PLC 2.7 %
NEXON CO LTD 2.6 %
FORTESCUE METALS GROUP LTD 2.6 %
XINYI GLASS HOLDINGS CO LTD 2.5 %
SONY CORP 2.5 %
DAINIPPON SUMITOMO PHARMA CO 2.5 %
BEACH PETROLEUM LTD 2.4 %
BLUESCOPE STEEL LTD 2.4 %
Total 25.7 %

TOP COUNTRY EXPOSURE
JAPAN 47.5 %
BRITAIN 17.2 %
AUSTRALIA 15.8 %
FRANCE 5.7 %
SWEDEN 4.4 %
HONG KONG 2.6 %
NORWAY 2.2 %
ITALY 2.1 %
FINLAND 2.0 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.2% 21.2% -- -- 4.6%

Market Correlations
versus... Beta R-squared
S&P500 1.03 63%
MSCI EAFE 1.30 84%
MSCI Emg. Mkts. 0.92 72%

Technical Indicators
Recent close $29.52
30d moving avg. $29.64
Annualized volatility 15.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 19
Turnover 0.6%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $2,251

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IVAL Expense: 59 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IVAL
Ticker Fund
Name
Overlap1
vs IVAL
(%)
Expense
ratio
(bp)
Savings
vs IVAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs IVAL
(%)
FJP First Trust Japan AlphaDEX 13.3 80 -21 8.4 -0.4
ICOW Pacer Developed Markets Int'l Cash Cows 100 12.6 65 -6 9.3 +0.4
FKU First Trust United Kingdom 12.5 80 -21 7.1 -1.8
FYLD Cambria Foreign Shareholder 12.3 59 0 8.0 -0.8
ESGN Columbia Sustainable International Equity Income 11.8 45 14 9.5 +0.7
FAUS First Trust Australia 11.4 80 -21 5.0 -3.9
GNR SPDR S&P Global Nat. Resources 10.6 40 19 6.2 -2.7
GUNR Flexshares Global Upstream Natural Resources 10.2 46 13 5.7 -3.1
FLM First Trust ISE Global Engineering & Construction 10.0 70 -11 7.8 -1.0
IDOG ALPS International Sector Dividend Dogs 9.9 50 9 8.1 -0.8
PICK iShares MSCI Global Select Metals & Mining 9.4 39 20 6.7 -2.1
FIVA Fidelity International Value Factor 9.4 39 20 9.1 +0.3
DMDV AAM S&P Developed Markets High Dividend Value 9.3 39 20 9.9 +1.0
GRES Index IQ Global Resources 9.3 77 -18 5.7 -3.1
FDT First Trust Developed Markets ex-US AlphaDEX 9.0 80 -21 7.8 -1.0
MXI iShares S&P Global Materials 8.8 46 13 6.6 -2.3
HDEF Xtrackers MSCI EAFE High Div Yld Hedged 8.5 20 39 8.5 -0.4
DOO WisdomTree Int'l Dividend Ex-Financials 8.2 58 1 7.9 -1.0
CID Victory CEMP International High Div Volatility Wtd 7.6 45 14 8.8 -0.1
HDAW Xtrackers MSCI All World ex US High Div Yield 7.6 20 39 9.6 +0.8

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:
Valueshares Int'l Quantitative Value
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 11.7 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 8.9 %
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.