Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF
ALTAR
Score™
7.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.6x P/Sales
ratio
1.1x
P/BV
ratio
2.4x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Cboe Vest S&P 500 Dividend Aristocrat Target Income ETF tracks an equal-weighted index of US large-cap companies that have increased dividends for at least 25 years, with a partial overlay of covered call options.

FUND BASICS
Category US Equities
Fund Sponsor Cboe Vest Financial
Website www.cboevestetfs.com
Inception date Mar 26, 2018
Assets (mns) $44
Currency USD
Expense ratio 75 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 65
Wgt avg mkt cap (mns) $66,394
Large cap (>$10bn) 88.0%
Mid cap ($2-10bn) 12.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CLOROX COMPANY 2.4 %
WAL-MART STORES INC 2.2 %
HORMEL FOODS CORP 2.2 %
COLGATE-PALMOLIVE CO 2.0 %
PROCTER & GAMBLE CO/THE 2.0 %
KIMBERLY-CLARK CORP 2.0 %
JOHNSON & JOHNSON 1.9 %
EXPEDITORS INTL WASH INC 1.9 %
ABBOTT LABORATORIES 1.9 %
PEPSICO INC 1.9 %
Total 20.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.0 %
BRITAIN 4.6 %
IRELAND 1.6 %
SWITZERLAND 1.5 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-23.6% -14.0% -- -- -2.5%

Market Correlations
versus... Beta R-squared
S&P500 0.94 93%
MSCI EAFE 0.93 84%
MSCI Emg. Mkts. 0.72 68%

Technical Indicators
Recent close $33.44
30d moving avg. $38.22
Annualized volatility 17.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 23
Turnover 1.7%
Bid/Ask (% of price) 0.71%
ADV underlying (mns) $33,136

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF ETF based on the alternatives' overlap in portfolio holdings with KNG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KNG Expense: 75 bp ALTAR Score™: 7.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KNG
Ticker Fund
Name
Overlap1
vs KNG
(%)
Expense
ratio
(bp)
Savings
vs KNG
(bp)
ALTAR
Score™
(%)
ALTAR
vs KNG
(%)
NOBL ProShares S&P 500 Dividend Aristocrats ETF 99.2 35 40 7.5 +0.4
TMDV ProShares Russell US Dividend Growers ETF 58.0 35 40 6.7 -0.5
SDY SPDR S&P Dividend ETF 56.8 35 40 8.2 +1.1
PFM Invesco Dividend Achievers ETF 37.5 54 21 6.5 -0.6
VSDA VictoryShares Dividend Accelerator ETF 37.3 35 40 5.9 -1.3
VIG Vanguard Dividend Appreciation Index Fund 35.8 6 69 6.5 -0.7
FLLV Franklin Liberty U.S. Low Volatility ETF 30.4 29 46 7.2 +0.1
VYM Vanguard High Dividend Yield Index ETF 27.1 6 69 9.0 +1.9
SCHV Schwab U.S. Large-Cap Value ETF 26.8 4 71 9.1 +2.0
CCOR Core Alternative ETF 25.9 123 -48 5.4 -1.7
OUSA O'Shares FTSE US Quality Dividend ETF 25.1 48 27 7.1 -0.1
IWX iShares Russell Top 200 Value ETF 24.7 20 55 8.9 +1.7
MGV Vanguard Mega Cap Value ETF 24.7 7 68 9.0 +1.8
KLCD KFA Large Cap Quality Dividend Index ETF 24.3 41 34 6.8 -0.4
VTV Vanguard Value Index Fund 24.2 4 71 9.3 +2.1
QDIV Global X S&P 500 Quality Dividend ETF 24.2 20 55 10.9 +3.7
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 24.1 40 35 6.8 -0.3
LVUS Hartford Multifactor Low Volatility US Equity ETF 23.5 19 56 7.8 +0.6
JHMS John Hancock Multifactor Consumer Staples ETF 23.5 40 35 6.6 -0.6
DLN WisdomTree U.S. LargeCap Dividend Fund 23.5 28 47 8.1 +1.0
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 23.4 49 26 6.6 -0.6
SPLV Invesco S&P 500 Low Volatility ETF 23.4 25 50 6.8 -0.3
VOOV Vanguard S&P 500 Value ETF 23.3 15 60 9.3 +2.1
USDY Pacific Global US Equity Income ETF 23.2 29 46 10.7 +3.6
SPYV SPDR Portfolio S&P 500 Value ETF 23.2 4 71 9.4 +2.2
IVE iShares S&P 500 Value ETF 23.2 18 57 9.2 +2.1
FLQL Franklin LibertyQ U.S. Equity ETF 23.1 15 60 8.2 +1.0
DEF Invesco Defensive Equity ETF 22.9 55 20 6.5 -0.6
DGRO iShares Core Dividend Growth ETF 22.8 8 67 8.5 +1.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 22.7 25 50 7.8 +0.7
VONV Vanguard Russell 1000 Value Index Fund 22.4 8 67 9.4 +2.3
IUSV iShares Core S&P U.S. Value ETF 22.3 4 71 9.5 +2.4
SPXT ProShares S&P 500 Ex-Technology ETF 22.2 27 48 7.4 +0.3
IWD iShares Russell 1000 Value ETF 22.0 19 56 9.3 +2.1
DTD WisdomTree U.S.Total Dividend Fund 21.8 28 47 8.6 +1.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 21.8 29 46 8.2 +1.1
USMV iShares Edge MSCI Min Vol USA ETF 21.5 15 60 6.9 -0.2
NULV Nuveen ESG Large-Cap Value ETF 21.3 35 40 9.5 +2.3
EQWL Invesco Russell Top 200 Equal Weight ETF 21.2 25 50 7.7 +0.5
HUSV First Trust Horizon Managed Volatility Domestic ETF 20.9 70 5 6.7 -0.4
JMIN JPMorgan U.S. Minimum Volatility ETF 20.6 12 63 7.3 +0.2
JKF iShares Morningstar Large Cap Value ETF 20.4 25 50 9.7 +2.5
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 20.3 49 26 5.5 -1.7
RAFE PIMCO RAFI ESG U.S. ETF 20.2 29 46 10.2 +3.1
FTCS First Trust Capital Strength ETF 20.1 60 15 6.2 -1.0
SPMV Invesco S&P 500 Minimum Variance ETF 20.0 10 65 7.4 +0.3
LGLV SPDR Russell 1000 Low Volatility ETF 20.0 12 63 7.1 -0.0
XLP Consumer Staples Select Sector SPDR Fund 20.0 13 62 5.9 -1.3
VDC Vanguard Consumer Staples Index Fund 19.9 10 65 6.0 -1.2
LSLT Salt Low truBeta US Market ETF 19.8 0 75 8.7 +1.5
FDLO Fidelity Low Volatility Factor ETF 19.8 29 46 6.6 -0.5
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 19.8 35 40 11.6 +4.5
RGI Invesco S&P 500 Equal Weight Industrials ETF 19.7 40 35 8.4 +1.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 19.6 25 50 8.5 +1.3
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 19.6 12 63 6.4 -0.8
FSTA Fidelity MSCI Consumer Staples Index ETF 19.4 8 67 5.9 -1.2
SNPE Xtrackers S&P 500 ESG ETF 19.2 11 64 7.0 -0.2
RWL Invesco S&P 500 Revenue ETF 19.1 39 36 9.3 +2.2
FVD First Trust Value Line Dividend Index Fund 19.0 70 5 8.2 +1.1
DTN WisdomTree U.S. Dividend ex-Financials Fund 18.7 38 37 10.3 +3.1
IUS Invesco Strategic US ETF 18.7 19 56 8.1 +0.9
IWL iShares Russell Top 200 ETF 18.7 15 60 6.7 -0.4
SPXN ProShares S&P 500 Ex-Financials ETF 18.7 27 48 6.7 -0.4
ACIO Aptus Collared Income Opportunity ETF 18.6 79 -4 6.4 -0.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 18.6 25 50 8.6 +1.4
MGC Vanguard Mega Cap Index Fund 18.4 7 68 6.9 -0.2
IECS iShares Evolved U.S. Consumer Staples ETF 18.3 18 57 6.4 -0.8
PRF Invesco FTSE RAFI US 1000 ETF 18.3 39 36 9.4 +2.2
QUS SPDR MSCI USA StrategicFactors ETF 18.2 15 60 7.4 +0.2
SUSL iShares ESG MSCI USA Leaders ETF 18.1 10 65 7.1 -0.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 18.1 10 65 7.1 -0.1
OEF iShares S&P 100 ETF 18.1 20 55 6.4 -0.7
LVHD Legg Mason Low Volatility High Dividend ETF 18.0 27 48 8.8 +1.6
NULC Nuveen ESG Large-Cap ETF 18.0 20 55 7.0 -0.2
HSPX Global X S&P 500 Covered Call ETF 18.0 65 10 6.6 -0.6
DIVB iShares U.S. Dividend & Buyback ETF 17.9 25 50 8.9 +1.8
SCHD Schwab U.S. Dividend Equity ETF 17.9 6 69 9.3 +2.1
DJD Invesco Dow Jones Industrial Average Dividend ETF 17.9 7 68 8.4 +1.3
EDOW First Trust Dow 30 Equal Weight ETF 17.9 50 25 7.4 +0.3
ESG FlexShares STOXX US ESG Impact Index Fund 17.9 32 43 6.9 -0.3
PBP Invesco S&P 500 BuyWrite ETF 17.9 49 26 6.8 -0.4
KRMA Global X Conscious Companies ETF 17.8 43 32 7.5 +0.3
BVAL Brand Value ETF 17.8 65 10 9.0 +1.9
ESGU iShares MSCI USA ESG Optimized ETF 17.8 15 60 6.8 -0.4
IQSU IQ Candriam ESG US Equity ETF 17.8 9 66 6.8 -0.4
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 17.8 19 56 7.7 +0.5
MAGA Point Bridge GOP Stock Tracker ETF 17.7 72 3 9.5 +2.3
FQAL Fidelity Quality Factor ETF 17.7 29 46 7.1 -0.0
DSTL Distillate US Fundamental Stability & Value ETF 17.7 39 36 7.8 +0.7
HLAL Wahed FTSE USA Shariah ETF 17.5 50 25 6.2 -0.9
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 17.5 20 55 6.7 -0.4
JQUA JPMorgan U.S. Quality Factor ETF 17.4 12 63 6.7 -0.4
QDF FlexShares Quality Dividend Index Fund 17.4 37 38 9.0 +1.8
XLG Invesco S&P 500 Top 50 ETF 17.3 20 55 6.0 -1.1
DIA SPDR Dow Jones Industrial Average ETF Trust 17.3 16 59 7.5 +0.3
CLRG IQ Chaikin U.S. Large Cap ETF 17.2 25 50 8.5 +1.4
SPY SPDR S&P 500 ETF Trust 17.2 9 66 7.2 +0.0
VOO VANGUARD S&P 500 ETF 17.2 3 72 7.2 +0.1
EPS WisdomTree U.S. Earnings 500 Fund 17.1 8 67 8.6 +1.5
SPLG SPDR Portfolio Large Cap ETF 17.1 3 72 7.2 +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%.

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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:
Cboe Vest S&P 500 Dividend Aristocrats Target Income 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 18.3 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 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.