KFA Large Cap Quality Dividend Index ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
2.1x
P/BV
ratio
3.5x Div.
yield
2.3%


  • 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) $38
Currency USD
Expense ratio 42 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 116
Wgt avg mkt cap (mns) $68,362
Large cap (>$10bn) 79.7%
Mid cap ($2-10bn) 20.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EATON VANCE CORP 1.2 %
EVERCORE PARTNERS INC-CL A 1.1 %
FEDEX CORP 1.0 %
MARKETAXESS HOLDINGS INC 1.0 %
POOL CORP 1.0 %
WHIRLPOOL CORP 1.0 %
WILLIAMS-SONOMA INC 1.0 %
NIKE INC -CL B 1.0 %
ONEOK INC 0.9 %
DTE ENERGY COMPANY 0.9 %
Total 10.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.6 %
IRELAND 0.9 %
BERMUDA 0.8 %
BRITAIN 0.8 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.6% 0.9% -- -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.89 90%
MSCI EAFE 0.90 83%
MSCI Emg. Mkts. 0.63 65%

Technical Indicators
Recent close $27.02
30d moving avg. $26.97
Annualized volatility 20.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.9%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $36,605

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: 42 bp ALTAR Score™: 5.5%


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 33.2 53 -11 5.3 -0.1
VIG Vanguard Dividend Appreciation Index Fund 31.2 6 36 5.2 -0.2
FLQL Franklin LibertyQ U.S. Equity ETF 30.5 15 27 6.1 +0.7
SPLV Invesco S&P 500 Low Volatility ETF 30.3 25 17 5.5 +0.0
ALTL Pacer Lunt Large Cap Alternator ETF 30.3 60 -18 5.1 -0.3
LSLT Salt Low truBeta US Market ETF 28.1 60 -18 5.7 +0.3
VSDA VictoryShares Dividend Accelerator ETF 27.3 35 7 4.8 -0.7
JMIN JPMorgan U.S. Minimum Volatility ETF 26.6 12 30 5.5 -0.0
PSET Principal Price Setters Index ETF 25.7 15 27 4.8 -0.6
SDY SPDR S&P Dividend ETF 25.3 35 7 7.1 +1.6
DGRO iShares Core Dividend Growth ETF 25.1 8 34 6.7 +1.2
FVD First Trust Value Line Dividend Index Fund 24.7 70 -28 6.2 +0.8
DGRW WisdomTree U.S. Quality Dividend Growth Fund 24.6 28 14 6.5 +1.0
HUSV First Trust Horizon Managed Volatility Domestic ETF 24.3 70 -28 5.7 +0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 24.0 18 24 6.1 +0.7
SCIU Global X Scientific Beta US ETF 24.0 19 23 0.0 -5.5
TPHD Timothy Plan High Dividend Stock ETF 23.9 52 -10 7.4 +1.9
KRMA Global X Conscious Companies ETF 23.9 43 -1 5.1 -0.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 23.5 25 17 5.8 +0.4
JQUA JPMorgan U.S. Quality Factor ETF 23.4 12 30 5.4 -0.1
FVL First Trust Value Line 100 Exchange-Traded Fund 23.4 70 -28 5.3 -0.2
USDY Pacific Global US Equity Income ETF 23.2 29 13 7.0 +1.5
VALQ American Century STOXX U.S. Quality Value ETF 22.9 29 13 8.9 +3.5
DTD WisdomTree U.S.Total Dividend Fund 22.9 28 14 6.7 +1.3
DLN WisdomTree U.S. LargeCap Dividend Fund 22.9 28 14 6.5 +1.0
ROUS Hartford Multifactor US Equity ETF 22.9 19 23 6.4 +1.0
USMV iShares Edge MSCI Min Vol USA ETF 22.7 15 27 5.5 +0.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 22.6 35 7 5.4 -0.1
RBUS Nationwide Risk-Based U.S. Equity ETF 22.6 30 12 4.6 -0.9
LGLV SPDR Russell 1000 Low Volatility ETF 22.2 12 30 5.6 +0.1
JDIV JPMorgan U.S. Dividend ETF 22.2 12 30 7.8 +2.3
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 22.2 30 12 5.5 +0.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 21.9 10 32 5.3 -0.2
DSTL Distillate US Fundamental Stability & Value ETF 21.9 39 3 6.1 +0.7
SUSL iShares ESG MSCI USA Leaders ETF 21.9 10 32 5.2 -0.2
AFLG First Trust Active Factor Large Cap ETF 21.8 55 -13 5.3 -0.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 21.3 29 13 5.9 +0.5
EXT WisdomTree U.S. Total Earnings Fund 21.3 28 14 5.4 -0.0
DEF Invesco Defensive Equity ETF 21.3 55 -13 5.2 -0.3
VYM Vanguard High Dividend Yield Index ETF 21.1 6 36 7.5 +2.0
FQAL Fidelity Quality Factor ETF 21.1 29 13 5.4 -0.1
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 21.1 75 -33 5.7 +0.2
SCHV Schwab U.S. Large-Cap Value ETF 21.0 4 38 6.8 +1.4
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 20.9 17 25 6.3 +0.8
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 20.8 17 25 6.8 +1.3
VOOV Vanguard S&P 500 Value ETF 20.8 10 32 7.3 +1.9
QUS SPDR MSCI USA StrategicFactors ETF 20.7 15 27 5.8 +0.3
FLLV Franklin Liberty U.S. Low Volatility ETF 20.7 29 13 5.5 -0.0
FDLO Fidelity Low Volatility Factor ETF 20.6 29 13 5.2 -0.3
JHML John Hancock Multifactor Large Cap ETF 20.5 29 13 5.4 -0.1
CFA VictoryShares US 500 Volatility Weighted Index ETF 20.4 35 7 5.7 +0.2
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 20.4 35 7 5.7 +0.2
EQWL Invesco Russell Top 200 Equal Weight ETF 20.3 25 17 6.3 +0.8
QDYN FlexShares Quality Dividend Dynamic Index Fund 20.3 37 5 6.0 +0.6
ECOZ TrueMark ESG Active Opportunities ETF 20.3 58 -16 3.6 -1.8
RAFE PIMCO RAFI ESG U.S. ETF 20.2 29 13 7.7 +2.3
NOBL ProShares S&P 500 Dividend Aristocrats ETF 20.2 35 7 6.1 +0.6
SPXT ProShares S&P 500 Ex-Technology ETF 20.1 27 15 5.5 +0.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 20.1 9 33 5.4 -0.0
JHMI John Hancock Multifactor Industrials ETF 19.9 40 2 5.7 +0.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 19.9 25 17 6.7 +1.2
EFIV SPDR S&P 500 ESG ETF 19.9 10 32 5.0 -0.5
SNPE Xtrackers S&P 500 ESG ETF 19.9 10 32 4.9 -0.5
LEAD Reality Shares DIVCON Leaders Dividend ETF 19.8 43 -1 4.4 -1.1
DFND Reality Shares DIVCON Dividend Defender ETF 19.8 144 -102 3.4 -2.0
QDF FlexShares Quality Dividend Index Fund 19.8 37 5 5.9 +0.5
SPYV SPDR Portfolio S&P 500 Value ETF 19.8 4 38 7.4 +1.9
IVE iShares S&P 500 Value ETF 19.8 18 24 7.2 +1.8
EPS WisdomTree U.S. Earnings 500 Fund 19.8 8 34 6.4 +0.9
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 19.7 20 22 4.8 -0.7
LSAF LeaderShares AlphaFactor US Core Equity ETF 19.7 75 -33 6.0 +0.5
FTA First Trust Large Cap Value AlphaDEX Fund 19.5 60 -18 9.2 +3.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 19.5 24 18 6.0 +0.6
ESGU iShares MSCI USA ESG Optimized ETF 19.5 15 27 4.9 -0.5
VONV Vanguard Russell 1000 Value Index Fund 19.4 8 34 7.0 +1.6
HSPX Global X S&P 500 Covered Call ETF 19.4 60 -18 4.8 -0.7
SPMV Invesco S&P 500 Minimum Variance ETF 19.4 10 32 5.7 +0.2
DSI iShares MSCI KLD 400 Social ETF 19.4 25 17 5.0 -0.5
RNLC Large Cap US Equity Select ETF 19.4 60 -18 6.1 +0.6
IWD iShares Russell 1000 Value ETF 19.4 19 23 6.9 +1.4
IUS Invesco Strategic US ETF 19.3 19 23 6.5 +1.0
PBP Invesco S&P 500 BuyWrite ETF 19.2 49 -7 4.9 -0.6
OUSA O'Shares FTSE US Quality Dividend ETF 19.2 48 -6 5.8 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 19.2 20 22 5.2 -0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 19.2 60 -18 4.9 -0.6
IUSV iShares Core S&P U.S. Value ETF 19.1 4 38 7.5 +2.0
PRF Invesco FTSE RAFI US 1000 ETF 19.1 39 3 6.8 +1.3
FDMO Fidelity Momentum Factor ETF 19.0 29 13 3.2 -2.2
SPLG SPDR Portfolio Large Cap ETF 19.0 3 39 5.3 -0.2
IVV iShares Core S&P 500 ETF 19.0 3 39 5.3 -0.2
SPY SPDR S&P 500 ETF Trust 19.0 9 33 5.2 -0.3
FNDB Schwab Fundamental U.S. Broad Market Index ETF 18.9 25 17 6.7 +1.3
SPXE ProShares S&P 500 Ex-Energy ETF 18.9 27 15 5.1 -0.3
VOO VANGUARD S&P 500 ETF 18.8 3 39 5.3 -0.2
DIVB iShares U.S. Dividend & Buyback ETF 18.5 25 17 6.9 +1.4
DON WisdomTree U.S. MidCap Dividend Fund 18.5 38 4 7.6 +2.1
SUSA iShares MSCI USA ESG Select ETF 18.5 25 17 4.7 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 18.5 3 39 5.4 -0.1
ESGV Vanguard ESG U.S. Stock ETF 18.4 12 30 5.0 -0.5
JMOM JPMorgan U.S. Momentum Factor ETF 18.4 12 30 3.3 -2.1

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%.

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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 18.8 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 CATEGORY
AVERAGE
1.51
 
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.