Alpha Architect International Quantitative Value ETF
ALTAR
Score™
10.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
14.0x P/Sales
ratio
0.6x
P/BV
ratio
1.0x Div.
yield
2.9%


  • 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 16, 2014
Assets (mns) $84
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) $15,299
Large cap (>$10bn) 22.8%
Mid cap ($2-10bn) 66.7%
Small cap (<$2bn) 10.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FORTESCUE METALS GROUP LTD 3.6 %
DIALOG SEMICONDUCTOR PLC 3.0 %
RHEINMETALL AG 3.0 %
ANGLO AMERICAN PLC 2.9 %
RIO TINTO PLC 2.8 %
BHP BILLITON LTD 2.7 %
AURUBIS AG 2.6 %
SANTOS LTD 2.5 %
BLUESCOPE STEEL LTD 2.4 %
GUNGHO ONLINE ENTERTAINMENT 2.4 %
Total 28.0 %

TOP COUNTRY EXPOSURE
JAPAN 48.5 %
BRITAIN 19.1 %
AUSTRALIA 13.4 %
GERMANY 10.0 %
FRANCE 2.3 %
ITALY 2.1 %
SINGAPORE 2.0 %
HONG KONG 2.0 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-18.4% -6.9% 0.4% -- 0.2%

Market Correlations
versus... Beta R-squared
S&P500 1.02 74%
MSCI EAFE 1.21 88%
MSCI Emg. Mkts. 0.84 70%

Technical Indicators
Recent close $25.04
30d moving avg. $24.60
Annualized volatility 20.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.3%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $1,469

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Alpha Architect International Quantitative Value ETF 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™: 10.5%


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
(%)
FYLD Cambria Foreign Shareholder Yield ETF 14.2 59 0 6.9 -3.6
PICK iShares MSCI Global Metals & Mining Producers ETF 12.5 39 20 6.7 -3.8
FLM First Trust Global Engineering & Construction ETF 11.0 70 -11 9.1 -1.4
FJP First Trust Japan AlphaDEX Fund 10.5 80 -21 9.0 -1.5
FAUS First Trust Australia AlphaDEX Fund 10.2 80 -21 6.2 -4.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 8.7 80 -21 7.4 -3.1
FKU First Trust United Kingdom AlphaDEX Fund 8.6 80 -21 8.4 -2.1
MXI iShares Global Materials ETF 8.3 46 13 5.7 -4.8
INTF iShares Edge MSCI Multifactor Intl ETF 8.1 30 29 7.7 -2.8
ESGN Columbia Sustainable International Equity Income ETF 8.0 45 14 10.8 +0.3
GUNR Flexshares Morningstar Global Upstream Natural Resources 8.0 46 13 5.4 -5.1
FTRI First Trust Indxx Global Natural Resources Income ETF 7.8 70 -11 8.9 -1.6
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.6 65 -6 10.7 +0.2
EWGS iShares MSCI Germany Small Cap ETF 7.4 59 0 5.0 -5.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 6.9 20 39 9.6 -0.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 6.7 20 39 11.1 +0.7
EFAS Global X MSCI SuperDividend EAFE ETF 6.6 56 3 9.8 -0.7
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 6.6 83 -24 5.5 -5.0
IDY Pacific Global International Equity Income ETF 6.5 39 20 8.1 -2.4
IVLU iShares Edge MSCI Intl Value Factor ETF 6.5 30 29 11.6 +1.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 6.4 29 30 8.7 -1.8
GNR SPDR S&P Global Natural Resources ETF 6.3 40 19 6.3 -4.2
HAP VanEck Vectors Natural Resources ETF 6.2 50 9 6.0 -4.5
EWA iShares MSCI Australia ETF 6.2 50 9 6.1 -4.4
IDHQ Invesco S&P International Developed Quality ETF 6.1 29 30 5.1 -5.4
FLAU Franklin FTSE Australia ETF 5.9 9 50 6.6 -3.9
LVIN Hartford Multifactor Low Volatility International Equity ETF 5.8 29 30 12.2 +1.7
FDT First Trust Developed Markets ex-US Alphadex Fund 5.7 80 -21 7.3 -3.2
DTH WisdomTree DEFA Equity Income Fund 5.7 58 1 9.8 -0.6
EWU iShares MSCI United Kingdom ETF 5.6 50 9 7.3 -3.2
EPP iShares MSCI Pacific ex-Japan ETF 5.5 48 11 6.5 -4.0
FLGB Franklin FTSE United Kingdom ETF 5.5 9 50 7.8 -2.7
QGBR SPDR MSCI UK StrategicFactors ETF 5.4 14 45 7.8 -2.7
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 5.4 19 40 6.8 -3.7
SCIX Global X Scientific Beta Asia ex-Japan ETF 5.3 38 21 6.6 -3.9
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 5.3 45 14 10.0 -0.5
UIVM VictoryShares USAA MSCI International Value Momentum ETF 5.3 35 24 8.6 -1.9
QINT American Century Quality Diversified International ETF 5.2 39 20 5.7 -4.8
EFV iShares MSCI EAFE Value ETF 5.1 39 20 9.7 -0.8
IPKW Invesco International BuyBack Achievers ETF 5.0 55 4 8.1 -2.4
SCIJ Global X Scientific Beta Japan ETF 4.9 40 19 7.3 -3.2
AVDV Avantis International Small Cap Value ETF 4.9 36 23 7.7 -2.8
JPIN JPMorgan Diversified Return International Equity ETF 4.9 37 22 7.9 -2.6
RFDI First Trust Riverfront Dynamic Developed International ETF 4.8 83 -24 5.6 -4.9
VIDI Vident International Equity Fund 4.8 59 0 11.2 +0.7
LVHI Legg Mason International Low Volatility High Dividend ETF 4.8 40 19 9.2 -1.3
EWJV iShares MSCI Japan Value ETF 4.8 15 44 10.6 +0.1
GCOW Pacer Global High Dividend ETF 4.7 60 -1 10.4 -0.1
IDV iShares International Select Dividend ETF 4.6 49 10 10.2 -0.3
IDOG ALPS International Sector Dividend Dogs ETF 4.6 50 9 10.8 +0.3
GRES IQ Global Resources ETF 4.5 77 -18 7.3 -3.2
EWJE iShares MSCI Japan Equal Weighted ETF 4.3 15 44 7.4 -3.1
FIVA Fidelity International Value Factor ETF 4.2 39 20 10.0 -0.5
SDG iShares Sustainable MSCI Global Impact ETF 4.2 49 10 5.6 -4.9
JHMD John Hancock Multifactor Developed International ETF 4.1 39 20 7.5 -3.0
DOO WisdomTree International Dividend ex-Financials Fund 4.0 58 1 8.8 -1.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 4.0 58 1 7.8 -2.7
DIM WisdomTree International MidCap Dividend Fund 3.9 58 1 7.7 -2.8
DXGE WisdomTree Germany Hedged Equity Fund 3.9 48 11 8.9 -1.6
IPAC iShares Core MSCI Pacific ETF 3.9 9 50 7.4 -3.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 3.9 35 24 8.6 -1.9
ISDX Invesco Strategic Developed ex-US ETF 3.7 23 36 7.4 -3.1
DOL WisdomTree International LargeCap Dividend Fund 3.7 48 11 8.7 -1.8
PDEV Principal International Multi-Factor Core Index ETF 3.7 25 34 7.9 -2.6
IQDF FlexShares International Quality Dividend Index Fund 3.7 47 12 12.2 +1.7
PQIN PGIM QMA Strategic Alpha International Equity ETF 3.7 29 30 7.7 -2.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.6 47 12 12.6 +2.2
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 3.6 24 35 7.2 -3.3
DWM WisdomTree International Equity Fund 3.6 48 11 8.4 -2.1
WWJD Inspire International ESG ETF 3.5 80 -21 7.5 -3.0
FNDF Schwab Fundamental International Large Co. Index ETF 3.4 25 34 8.8 -1.7
IQIN IQ 500 International ETF 3.3 25 34 8.8 -1.7
IQLT iShares Edge MSCI Intl Quality Factor ETF 3.3 30 29 6.1 -4.4
ACWF iShares FactorSelect MSCI Global ETF 3.3 35 24 7.7 -2.8
DXJ WisdomTree Japan Hedged Equity Fund 3.3 48 11 8.5 -2.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.2 45 14 8.9 -1.6
FEP First Trust Europe AlphaDEX Fund 3.2 80 -21 7.4 -3.1
VPL Vanguard FTSE Pacific ETF 3.2 8 51 7.7 -2.8
DVYA iShares Asia/Pacific Dividend ETF 3.1 49 10 13.4 +2.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.0 58 1 6.3 -4.2
IQDG WisdomTree International Quality Dividend Growth Fund 2.9 38 21 6.4 -4.1
AFK VanEck Vectors Africa Index ETF 2.9 79 -20 8.5 -2.0
ISZE iShares Edge MSCI Intl Size Factor ETF 2.8 30 29 7.3 -3.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 2.8 58 1 6.1 -4.4
URA Global X Uranium ETF 2.8 71 -12 4.1 -6.4
DGT SPDR Global Dow ETF 2.8 50 9 6.5 -4.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.7 25 34 7.4 -3.1
VYMI Vanguard International High Dividend Yield ETF 2.7 32 27 10.1 -0.4
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 2.7 9 50 7.9 -2.6
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 2.7 35 24 7.1 -3.4
JPXN iShares JPX-Nikkei 400 ETF 2.7 48 11 7.5 -3.0
FLJH Franklin FTSE Japan Hedged ETF 2.7 9 50 7.8 -2.7
SCID Global X Scientific Beta Europe ETF 2.6 39 20 6.4 -4.1
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 2.6 30 29 7.6 -2.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.6 35 24 6.9 -3.6
FLJP Franklin FTSE Japan ETF 2.6 9 50 7.8 -2.7
EFA iShares MSCI EAFE ETF 2.6 32 27 7.1 -3.4
IQSI IQ Candriam ESG International Equity ETF 2.6 15 44 7.3 -3.2
QJPN SPDR MSCI Japan StrategicFactors ETF 2.6 14 45 7.9 -2.6

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:
Alpha Architect International Quantitative Value ETF
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 10.7 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 10.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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