KFA Large Cap Quality Dividend Index ETF
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.1x P/Sales
ratio
1.8x
P/BV
ratio
3.4x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The KFA Large Cap Quality Dividend Index ETF tracks a dividend-selected, market-cap weighted index of large-cap U.S equities.

FUND BASICS
Category US Equities
Fund Sponsor KraneShares
Website kraneshares.com
Inception date Jun 11, 2019
Assets (mns) $49
Currency USD
Expense ratio 41 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 120
Wgt avg mkt cap (mns) $63,394
Large cap (>$10bn) 78.1%
Mid cap ($2-10bn) 21.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
WEST PHARMACEUTICAL SERVICES 1.1 %
QUALCOMM INC 1.0 %
ROLLINS INC 1.0 %
POOL CORP 1.0 %
CHURCH & DWIGHT CO INC 1.0 %
TRACTOR SUPPLY COMPANY 1.0 %
ERIE INDEMNITY COMPANY-CL A 0.9 %
SILGAN HOLDINGS INC 0.9 %
C.H. ROBINSON WORLDWIDE INC 0.9 %
PRAXAIR INC 0.9 %
Total 9.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
IRELAND 1.6 %
BRITAIN 0.9 %
BERMUDA 0.8 %







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.
-2.8% -- -- -- 2.2%

Market Correlations
versus... Beta R-squared
S&P500 0.95 92%
MSCI EAFE 0.92 83%
MSCI Emg. Mkts. 0.63 65%

Technical Indicators
Recent close $26.39
30d moving avg. $25.33
Annualized volatility 22.0%
Short interest (ETF) 0.3%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.4%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $35,016

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the KFA Large Cap Quality Dividend Index ETF ETF based on the alternatives' overlap in portfolio holdings with KLCD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KLCD Expense: 41 bp ALTAR Score™: 5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KLCD
Ticker Fund
Name
Overlap1
vs KLCD
(%)
Expense
ratio
(bp)
Savings
vs KLCD
(bp)
ALTAR
Score™
(%)
ALTAR
vs KLCD
(%)
PFM Invesco Dividend Achievers ETF 34.7 54 -13 5.3 +0.2
VIG Vanguard Dividend Appreciation Index Fund 32.8 6 35 5.2 +0.2
LSLT Salt Low truBeta US Market ETF 31.5 29 12 5.9 +0.8
VSDA VictoryShares Dividend Accelerator ETF 30.7 35 6 4.8 -0.3
FLQL Franklin LibertyQ U.S. Equity ETF 30.2 15 26 6.0 +0.9
HUSV First Trust Horizon Managed Volatility Domestic ETF 29.8 70 -29 4.6 -0.4
JMIN JPMorgan U.S. Minimum Volatility ETF 29.7 12 29 5.4 +0.3
SPLV Invesco S&P 500 Low Volatility ETF 29.6 25 16 5.5 +0.4
PSET Principal Price Setters Index ETF 29.6 29 12 4.6 -0.5
USMV iShares Edge MSCI Min Vol USA ETF 27.4 15 26 5.4 +0.3
LGLV SPDR Russell 1000 Low Volatility ETF 26.3 12 29 5.5 +0.4
SCIU Global X Scientific Beta US ETF 25.8 19 22 5.6 +0.5
JPUS JPMorgan Diversified Return U.S. Equity ETF 25.4 18 23 6.0 +1.0
SDY SPDR S&P Dividend ETF 25.3 35 6 6.9 +1.8
JQUA JPMorgan U.S. Quality Factor ETF 24.6 12 29 5.2 +0.1
FVL First Trust Value Line 100 Exchange-Traded Fund 24.6 70 -29 4.5 -0.5
FDLO Fidelity Low Volatility Factor ETF 24.5 29 12 5.0 -0.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 24.1 35 6 5.2 +0.2
DSTL Distillate US Fundamental Stability & Value ETF 24.0 39 2 5.9 +0.8
FVD First Trust Value Line Dividend Index Fund 23.9 70 -29 6.2 +1.1
DGRO iShares Core Dividend Growth ETF 23.8 8 33 6.5 +1.4
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 23.4 30 11 5.5 +0.4
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 23.3 17 24 6.2 +1.1
FQAL Fidelity Quality Factor ETF 23.3 29 12 5.4 +0.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 23.2 29 12 5.8 +0.8
RBUS Nationwide Risk-Based U.S. Equity ETF 23.0 30 11 4.6 -0.5
FLLV Franklin Liberty U.S. Low Volatility ETF 22.7 29 12 5.6 +0.5
LVUS Hartford Multifactor Low Volatility US Equity ETF 22.7 19 22 6.0 +0.9
DLN WisdomTree U.S. LargeCap Dividend Fund 22.5 28 13 6.3 +1.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 22.4 35 6 5.6 +0.6
KRMA Global X Conscious Companies ETF 22.4 43 -2 5.0 -0.0
USDY Pacific Global US Equity Income ETF 22.2 29 12 7.1 +2.0
QUS SPDR MSCI USA StrategicFactors ETF 22.1 15 26 5.7 +0.6
DGRW WisdomTree U.S. Quality Dividend Growth Fund 22.1 28 13 6.3 +1.3
DTD WisdomTree U.S.Total Dividend Fund 22.1 28 13 6.5 +1.4
AFLG First Trust Active Factor Large Cap ETF 22.1 55 -14 5.3 +0.3
DEF Invesco Defensive Equity ETF 21.8 55 -14 4.9 -0.2
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 21.8 25 16 5.7 +0.7
NOBL ProShares S&P 500 Dividend Aristocrats ETF 21.8 35 6 6.0 +0.9
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 21.8 75 -34 5.6 +0.5
FDMO Fidelity Momentum Factor ETF 21.2 29 12 3.7 -1.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 20.9 10 31 5.2 +0.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 20.9 30 11 6.3 +1.2
SUSL iShares ESG MSCI USA Leaders ETF 20.9 10 31 5.2 +0.1
RNLC Large Cap US Equity Select ETF 20.8 60 -19 6.1 +1.0
ROUS Hartford Multifactor US Equity ETF 20.7 19 22 7.0 +2.0
SPXT ProShares S&P 500 Ex-Technology ETF 20.7 27 14 5.4 +0.4
LSAF LeaderShares AlphaFactor US Core Equity ETF 20.7 75 -34 5.7 +0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 20.5 9 32 5.3 +0.3
JHML John Hancock Multifactor Large Cap ETF 20.5 29 12 5.4 +0.3
JMOM JPMorgan U.S. Momentum Factor ETF 20.4 12 29 3.5 -1.5
JDIV JPMorgan U.S. Dividend ETF 20.3 12 29 7.7 +2.6
VYM Vanguard High Dividend Yield Index ETF 20.2 6 35 7.3 +2.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 20.0 20 21 4.7 -0.3
PBP Invesco S&P 500 BuyWrite ETF 19.8 49 -8 4.8 -0.2
QLV FlexShares US Quality Low Volatility Index Fund 19.8 22 19 4.6 -0.4
MAGA Point Bridge GOP Stock Tracker ETF 19.8 72 -31 6.3 +1.2
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 19.7 17 24 6.3 +1.2
VONV Vanguard Russell 1000 Value Index Fund 19.6 8 33 6.9 +1.8
SNPE Xtrackers S&P 500 ESG ETF 19.6 11 30 4.9 -0.2
ESGU iShares MSCI USA ESG Optimized ETF 19.6 15 26 4.9 -0.2
IWD iShares Russell 1000 Value ETF 19.5 19 22 6.8 +1.7
HSPX Global X S&P 500 Covered Call ETF 19.5 65 -24 4.7 -0.4
LEAD Reality Shares DIVCON Leaders Dividend ETF 19.5 43 -2 4.3 -0.8
DFND Reality Shares DIVCON Dividend Defender ETF 19.5 144 -103 3.3 -1.8
SPY SPDR S&P 500 ETF Trust 19.4 9 32 5.2 +0.1
IVV iShares Core S&P 500 ETF 19.4 4 37 5.2 +0.1
SPLG SPDR Portfolio Large Cap ETF 19.4 3 38 5.2 +0.2
OUSA O'Shares FTSE US Quality Dividend ETF 19.3 48 -7 5.5 +0.5
VOO VANGUARD S&P 500 ETF 19.3 3 38 5.2 +0.2
ECOZ TrueMark ESG Active Opportunities ETF 19.3 58 -17 3.9 -1.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 19.3 25 16 6.2 +1.2
QDEF FlexShares Quality Dividend Defensive Index Fund 19.2 37 4 5.7 +0.6
DSI iShares MSCI KLD 400 Social ETF 19.2 25 16 5.0 -0.1
ONEV SPDR Russell 1000 Low Volatility Focus ETF 19.2 20 21 6.8 +1.7
SPYV SPDR Portfolio S&P 500 Value ETF 19.1 4 37 7.3 +2.2
IVE iShares S&P 500 Value ETF 19.1 18 23 7.1 +2.0
VOOV Vanguard S&P 500 Value ETF 19.1 15 26 7.1 +2.1
SPXV ProShares S&P 500 Ex-Health Care ETF 19.1 27 14 4.8 -0.3
EXT WisdomTree U.S. Total Earnings Fund 19.0 28 13 5.0 -0.0
SPXE ProShares S&P 500 Ex-Energy ETF 19.0 27 14 5.1 +0.0
SCHV Schwab U.S. Large-Cap Value ETF 19.0 4 37 7.1 +2.0
ONEO SPDR Russell 1000 Momentum Focus ETF 19.0 20 21 6.2 +1.2
QDYN FlexShares Quality Dividend Dynamic Index Fund 19.0 37 4 6.0 +0.9
SPTM SPDR Portfolio Total Stock Market ETF 18.9 3 38 5.3 +0.2
PBUS Invesco PureBeta MSCI USA ETF 18.9 4 37 5.1 -0.0
EPS WisdomTree U.S. Earnings 500 Fund 18.9 8 33 6.3 +1.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 18.9 20 21 5.1 +0.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 18.9 24 17 6.0 +0.9
SCHX Schwab U.S. Large-Cap ETF 18.9 3 38 5.1 +0.0
DIVB iShares U.S. Dividend & Buyback ETF 18.8 25 16 6.4 +1.3
QDF FlexShares Quality Dividend Index Fund 18.8 37 4 6.0 +0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 18.7 7 34 5.0 -0.1
SPMV Invesco S&P 500 Minimum Variance ETF 18.7 10 31 5.6 +0.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 18.7 2 39 5.1 +0.0
EQWL Invesco Russell Top 200 Equal Weight ETF 18.6 25 16 6.0 +0.9
IUSV iShares Core S&P U.S. Value ETF 18.6 4 37 7.3 +2.2
VONE Vanguard Russell 1000 ETF 18.6 8 33 5.0 -0.1
SCHK Schwab 1000 Index ETF 18.6 5 36 5.1 -0.0
PRF Invesco FTSE RAFI US 1000 ETF 18.5 39 2 6.6 +1.5

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:
KFA Large Cap Quality Dividend Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.7 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 41 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 CATEGORY
AVERAGE
1.52
 
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.