John Hancock Multifactor Financials
ALTAR
Score™
6.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
14.0x P/Sales
ratio
2.7x
P/BV
ratio
1.8x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The John Hancock Multifactor Financials ETF tracks an index of US financial stocks, weighted for exposure to 4 factors: small size, low relative price, high profitability and high momentum.

FUND BASICS
Category US Equities
Fund Sponsor John Hancock
Website etf.jhinvestments.com
Inception date Sep 28, 2015
Assets (mns) $55
Currency USD
Expense ratio 40 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 156
Wgt avg mkt cap (mns) $123,130
Large cap (>$10bn) 86.4%
Mid cap ($2-10bn) 13.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JPMORGAN CHASE & CO 4.5 %
BANK OF AMERICA CORP 4.2 %
BERKSHIRE HATHAWAY INC-CL B 4.0 %
VISA INC-CLASS A SHARES 3.7 %
WELLS FARGO & CO 3.5 %
MASTERCARD INC-CLASS A 3.3 %
CITIGROUP INC 2.7 %
GLOBAL PAYMENTS INC 1.6 %
CAPITAL ONE FINANCIAL CORP 1.4 %
GOLDMAN SACHS GROUP INC 1.4 %
Total 30.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.6 %
BERMUDA 2.4 %
BRITAIN 1.9 %
SWITZERLAND 0.7 %
PUERTO RICO 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.
32.1% 17.8% -- -- 14.3%

Market Correlations
versus... Beta R-squared
S&P500 1.08 78%
MSCI EAFE 0.97 53%
MSCI Emg. Mkts. 0.67 40%

Technical Indicators
Recent close $40.99
30d moving avg. $40.25
Annualized volatility 14.7%
Short interest (ETF) 0.4%
Short interest (Underlying) 2.2%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.7%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $23,435

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the John Hancock Multifactor Financials ETF based on the alternatives' overlap in portfolio holdings with JHMF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JHMF Expense: 40 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JHMF
Ticker Fund
Name
Overlap1
vs JHMF
(%)
Expense
ratio
(bp)
Savings
vs JHMF
(bp)
ALTAR
Score™
(%)
ALTAR
vs JHMF
(%)
IEFN iShares Evolved U.S. Financials 69.7 18 22 7.3 +0.7
FNCL Fidelity MSCI Financials 66.3 8 32 7.3 +0.7
VFH Vanguard Financials 66.1 10 30 7.3 +0.7
IYF iShares DJ US Financials 63.8 42 -2 6.1 -0.5
XLF Financials Select Sector SPDR 59.6 13 27 6.9 +0.4
IYG iShares DJ US Financial Services 57.0 42 -2 6.3 -0.2
RYF Invesco S&P Equal Weight Financials 56.9 40 0 7.3 +0.8
RWW Invesco S&P Financials Revenue 54.3 45 -5 7.2 +0.7
FXO First Trust Financial Alphadex 46.9 63 -23 7.8 +1.2
IXG iShares S&P Global Financial Sector 44.6 46 -6 8.2 +1.6
KBWB Invesco KBW Bank Portfolio 30.3 35 5 7.5 +0.9
SPVU Invesco S&P 500 Value 28.5 13 27 10.9 +4.4
FTXO First Trust Nasdaq Bank 27.9 60 -20 7.6 +1.0
DFNL Davis Select Financial 27.7 64 -24 6.6 +0.0
KBE KBW Bank ETF 27.2 35 5 8.1 +1.6
IWX iShares Russell Top 200 Value 26.1 20 20 6.9 +0.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility 25.5 25 15 5.9 -0.7
PWV Invesco Dynamic Large Cap Value 24.5 55 -15 7.9 +1.3
EPS WisdomTree Earnings 500 24.2 8 32 6.8 +0.3
AMCA iShares Russell 1000 Pure U.S. Revenue 24.1 15 25 6.5 -0.1

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%.

Content on this tab for subscribers only**

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:
John Hancock Multifactor Financials
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.3 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 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.