Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.1x P/Sales
ratio
1.5x
P/BV
ratio
2.9x Div.
yield
2.7%


  • 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) $70
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 66
Wgt avg mkt cap (mns) $72,503
Large cap (>$10bn) 90.7%
Mid cap ($2-10bn) 9.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TARGET CORP 1.9 %
CARRIER GLOBAL CORP. 1.8 %
LEGGETT & PLATT INC 1.8 %
CATERPILLAR INC 1.8 %
PPG INDUSTRIES INC 1.8 %
ARCHER-DANIELS-MIDLAND CO 1.8 %
VF CORP 1.8 %
PENTAIR PLC 1.8 %
LOWE'S COS INC 1.8 %
SYSCO CORP 1.7 %
Total 17.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.2 %
BRITAIN 4.7 %
IRELAND 1.7 %
SWITZERLAND 1.3 %







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.
-3.4% 2.5% -- -- 7.7%

Market Correlations
versus... Beta R-squared
S&P500 0.90 93%
MSCI EAFE 0.95 85%
MSCI Emg. Mkts. 0.69 69%

Technical Indicators
Recent close $44.87
30d moving avg. $44.12
Annualized volatility 17.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.8%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $20,965

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™: 5.5%


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 98.0 35 40 5.9 +0.4
TMDV ProShares Russell US Dividend Growers ETF 57.9 36 39 5.5 +0.0
SDY SPDR S&P Dividend ETF 57.7 35 40 6.9 +1.4
VSDA VictoryShares Dividend Accelerator ETF 41.3 35 40 4.6 -0.8
PFM Invesco Dividend Achievers ETF 33.4 53 22 5.2 -0.3
VIG Vanguard Dividend Appreciation Index Fund 29.2 6 69 5.1 -0.4
VYM Vanguard High Dividend Yield Index ETF 26.4 6 69 7.3 +1.8
FLLV Franklin Liberty U.S. Low Volatility ETF 26.2 29 46 5.3 -0.1
USDY Pacific Global US Equity Income ETF 25.7 29 46 7.0 +1.6
SPLV Invesco S&P 500 Low Volatility ETF 25.0 25 50 5.4 -0.1
ALTL Pacer Lunt Large Cap Alternator ETF 25.0 60 15 5.1 -0.4
CCOR Core Alternative ETF 24.9 109 -34 4.5 -1.0
MGV Vanguard Mega Cap Value ETF 24.1 7 68 7.1 +1.6
NULV Nuveen ESG Large-Cap Value ETF 24.1 35 40 7.1 +1.6
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 24.0 60 15 6.3 +0.8
OUSA O'Shares FTSE US Quality Dividend ETF 23.7 48 27 5.7 +0.2
VTV Vanguard Value Index Fund 23.7 4 71 7.2 +1.7
VOOV Vanguard S&P 500 Value ETF 23.7 10 65 7.1 +1.6
IWX iShares Russell Top 200 Value ETF 23.7 20 55 6.6 +1.1
SCHV Schwab U.S. Large-Cap Value ETF 23.3 4 71 6.6 +1.2
DGRO iShares Core Dividend Growth ETF 23.2 8 67 6.5 +1.0
SPYV SPDR Portfolio S&P 500 Value ETF 22.7 4 71 7.1 +1.7
IVE iShares S&P 500 Value ETF 22.7 18 57 7.0 +1.5
DLN WisdomTree U.S. LargeCap Dividend Fund 22.5 28 47 6.3 +0.8
RGI Invesco S&P 500 Equal Weight Industrials ETF 22.3 40 35 4.6 -0.9
IUSV iShares Core S&P U.S. Value ETF 21.7 4 71 7.2 +1.8
DTD WisdomTree U.S.Total Dividend Fund 21.2 28 47 6.5 +1.0
KLCD KFA Large Cap Quality Dividend Index ETF 21.2 42 33 5.3 -0.1
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 20.9 35 40 8.5 +3.1
EQWL Invesco Russell Top 200 Equal Weight ETF 20.7 25 50 6.1 +0.6
SPXT ProShares S&P 500 Ex-Technology ETF 20.5 27 48 5.4 -0.1
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 20.0 40 35 6.3 +0.8
JKF iShares Morningstar Large Cap Value ETF 19.9 25 50 7.5 +2.0
IWD iShares Russell 1000 Value ETF 19.9 19 56 6.7 +1.2
VONV Vanguard Russell 1000 Value Index Fund 19.8 8 67 6.8 +1.3
FLQL Franklin LibertyQ U.S. Equity ETF 19.5 15 60 6.0 +0.5
FDLO Fidelity Low Volatility Factor ETF 19.4 29 46 5.1 -0.4
JHMS John Hancock Multifactor Consumer Staples ETF 19.3 40 35 5.6 +0.2
RAFE PIMCO RAFI ESG U.S. ETF 19.3 29 46 7.4 +2.0
DTN WisdomTree U.S. Dividend ex-Financials Fund 19.1 38 37 7.8 +2.3
HUSV First Trust Horizon Managed Volatility Domestic ETF 18.9 70 5 5.6 +0.1
LGLV SPDR Russell 1000 Low Volatility ETF 18.8 12 63 5.4 -0.1
VALQ American Century STOXX U.S. Quality Value ETF 18.7 29 46 8.7 +3.3
USMV iShares Edge MSCI Min Vol USA ETF 18.5 15 60 5.4 -0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 18.3 25 50 6.5 +1.0
QDIV Global X S&P 500 Quality Dividend ETF 18.3 20 55 7.4 +2.0
XLP Consumer Staples Select Sector SPDR Fund 18.3 13 62 5.2 -0.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 18.3 49 26 3.9 -1.6
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 18.1 30 45 9.0 +3.5
XLI Industrial Select Sector SPDR Fund 18.1 13 62 5.2 -0.3
RWL Invesco S&P 500 Revenue ETF 18.0 39 36 7.0 +1.5
MAGA Point Bridge GOP Stock Tracker ETF 17.9 72 3 6.2 +0.8
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 17.8 17 58 6.6 +1.1
VDC Vanguard Consumer Staples Index Fund 17.6 10 65 5.2 -0.3
PSET Principal Price Setters Index ETF 17.5 15 60 4.7 -0.7
LSLT Salt Low truBeta US Market ETF 17.5 60 15 5.6 +0.2
JMIN JPMorgan U.S. Minimum Volatility ETF 17.5 12 63 5.4 -0.1
FSTA Fidelity MSCI Consumer Staples Index ETF 17.4 8 67 5.3 -0.2
PRF Invesco FTSE RAFI US 1000 ETF 17.4 39 36 6.6 +1.1
DIVB iShares U.S. Dividend & Buyback ETF 17.3 25 50 6.6 +1.2
JHMI John Hancock Multifactor Industrials ETF 17.2 40 35 5.5 -0.0
LVHD Legg Mason Low Volatility High Dividend ETF 17.1 27 48 8.0 +2.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 17.0 10 65 5.2 -0.3
IUS Invesco Strategic US ETF 17.0 19 56 6.3 +0.8
SUSL iShares ESG MSCI USA Leaders ETF 17.0 10 65 5.1 -0.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 17.0 25 50 6.5 +1.1
QUS SPDR MSCI USA StrategicFactors ETF 16.9 15 60 5.7 +0.2
ESG FlexShares STOXX US ESG Impact Index Fund 16.9 32 43 4.9 -0.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 16.8 29 46 5.8 +0.3
IECS iShares Evolved U.S. Consumer Staples ETF 16.8 18 57 5.3 -0.2
FVD First Trust Value Line Dividend Index Fund 16.8 70 5 6.1 +0.6
ACIO Aptus Collared Income Opportunity ETF 16.7 79 -4 4.2 -1.2
PEY Invesco High Yield Equity Dividend Achievers ETF 16.6 52 23 9.3 +3.9
RNDV US Equity Dividend Select ETF 16.6 50 25 7.7 +2.2
GBLO Global Beta Low Beta ETF 16.6 29 46 7.2 +1.8
DGRW WisdomTree U.S. Quality Dividend Growth Fund 16.5 28 47 6.3 +0.8
IYJ iShares U.S. Industrials ETF 16.5 42 33 5.3 -0.2
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 16.4 35 40 8.6 +3.2
JQUA JPMorgan U.S. Quality Factor ETF 16.4 12 63 5.2 -0.2
SPXN ProShares S&P 500 Ex-Financials ETF 16.4 27 48 4.7 -0.7
MGC Vanguard Mega Cap Index Fund 16.4 7 68 4.9 -0.5
QLV FlexShares US Quality Low Volatility Index Fund 16.3 22 53 4.7 -0.8
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 16.2 25 50 5.7 +0.3
HSPX Global X S&P 500 Covered Call ETF 16.2 60 15 4.8 -0.7
PBP Invesco S&P 500 BuyWrite ETF 16.2 49 26 4.8 -0.7
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 16.1 12 63 4.6 -0.8
SDOG ALPS Sector Dividend Dogs ETF 16.1 40 35 9.5 +4.0
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 16.0 75 0 5.2 -0.2
FIDU Fidelity MSCI Industrials Index ETF 16.0 8 67 5.4 -0.1
FTCS First Trust Capital Strength ETF 16.0 58 17 4.7 -0.8
IWL iShares Russell Top 200 ETF 15.9 15 60 4.7 -0.7
NULC Nuveen ESG Large-Cap ETF 15.9 20 55 4.9 -0.6
BKLC BNY Mellon US Large Cap Core Equity ETF 15.9 0 75 4.9 -0.6
DSTL Distillate US Fundamental Stability & Value ETF 15.9 39 36 5.9 +0.5
VIS Vanguard Industrials Index Fund 15.8 10 65 5.2 -0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 15.8 60 15 4.8 -0.7
SPMV Invesco S&P 500 Minimum Variance ETF 15.7 10 65 5.6 +0.1
EPS WisdomTree U.S. Earnings 500 Fund 15.6 8 67 6.2 +0.8
OEF iShares S&P 100 ETF 15.6 20 55 4.6 -0.9
SCHD Schwab U.S. Dividend Equity ETF 15.6 6 69 7.8 +2.3

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 17.0 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 5.5 %
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.