KFA Small Cap Quality Dividend Index ETF
ALTAR
Score™
6.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
18.3x P/Sales
ratio
1.2x
P/BV
ratio
1.8x Div.
yield
2.5%


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

FUND BASICS
Category US Equities
Fund Sponsor KraneShares
Website kraneshares.com
Inception date Jun 11, 2019
Assets (mns) $25
Currency USD
Expense ratio 51 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 44
Wgt avg mkt cap (mns) $2,032
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 49.4%
Small cap (<$2bn) 50.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AARON'S INC 3.3 %
QUAKER CHEMICAL CORP 3.0 %
HILLENBRAND INC 2.9 %
H.B. FULLER CO. 2.9 %
STEPAN CO 2.8 %
AMERICAN EQUITY INVT LIFE HL 2.8 %
UTAH MEDICAL PRODUCTS INC 2.6 %
CALAVO GROWERS INC 2.6 %
LANCASTER COLONY CORP 2.6 %
FRANKLIN ELECTRIC CO INC 2.5 %
Total 28.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 100.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-17.6% -- -- -- -14.5%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $21.44
30d moving avg. $22.23
Annualized volatility 0.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.7%
Bid/Ask (% of price) 0.42%
ADV underlying (mns) $687

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: KSCD Expense: 51 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KSCD
Ticker Fund
Name
Overlap1
vs KSCD
(%)
Expense
ratio
(bp)
Savings
vs KSCD
(bp)
ALTAR
Score™
(%)
ALTAR
vs KSCD
(%)
SMDV ProShares Russell 2000 Dividend Growers ETF 43.3 40 11 7.6 +1.0
TMDV ProShares Russell US Dividend Growers ETF 17.3 35 16 5.4 -1.2
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 12.9 40 11 6.2 -0.3
FIW First Trust Water ETF 12.9 55 -4 3.9 -2.7
XSLV Invesco S&P SmallCap Low Volatility ETF 11.8 25 26 6.0 -0.5
XSHQ Invesco S&P SmallCap Quality ETF 11.7 29 22 6.7 +0.2
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 11.3 30 21 11.0 +4.4
PSCM Invesco S&P SmallCap Materials ETF 11.2 29 22 10.1 +3.5
PSCC Invesco S&P SmallCap Consumer Staples ETF 11.0 29 22 5.3 -1.3
RNSC Small Cap US Equity Select ETF 10.4 60 -9 7.8 +1.2
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 9.3 35 16 6.4 -0.2
PUI Invesco DWA Utilities Momentum ETF 9.1 60 -9 4.7 -1.8
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 8.5 38 13 9.2 +2.6
PSCU Invesco S&P SmallCap Utilities ETF 8.3 29 22 3.3 -3.2
PHO Invesco Water Resources ETF 8.3 60 -9 3.7 -2.9
DES WisdomTree U.S. SmallCap Dividend Fund 8.1 38 13 8.8 +2.3
IFRA iShares U.S. Infrastructure ETF 7.5 40 11 6.1 -0.5
IJS iShares S&P Small-cap 600 Value ETF 7.4 25 26 9.3 +2.8
SLYV SPDR S&P 600 Small Cap Value ETF 7.3 15 36 9.4 +2.8
OLD The Long-Term Care ETF 7.2 30 21 6.5 -0.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 7.2 15 36 9.8 +3.2
SPSM SPDR Portfolio Small Cap ETF 7.2 5 46 7.2 +0.6
SLY SPDR S&P 600 Small Cap ETF 7.1 15 36 7.1 +0.5
IJR iShares Core S&P Small Cap ETF 7.1 7 44 7.2 +0.6
SLYG SPDR S&P 600 Small Cap Growth ETF 7.0 15 36 5.3 -1.3
IJT iShares S&P Small-Cap 600 Growth ETF 7.0 25 26 5.2 -1.4
VIOO Vanguard S&P Small-Cap 600 ETF 7.0 10 41 7.3 +0.7
VIOG Vanguard S&P Small-Cap 600 Growth ETF 6.9 16 35 5.2 -1.3
SDY SPDR S&P Dividend ETF 6.9 35 16 7.0 +0.5
TBLU Tortoise Water Fund 6.8 40 11 5.0 -1.6
PSCI Invesco S&P SmallCap Industrials ETF 6.7 29 22 6.7 +0.1
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 6.4 29 22 5.7 -0.9
PXSG Invesco S&P SmallCap Momentum ETF 5.6 39 12 5.1 -1.5
PSCF Invesco S&P SmallCap Financials ETF 5.6 29 22 11.6 +5.1
PYZ Invesco DWA Basic Materials Momentum ETF 5.6 60 -9 6.1 -0.5
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 5.5 20 31 4.7 -1.8
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 5.5 12 39 7.9 +1.3
CGW Invesco S&P Global Water Index ETF 5.3 59 -8 4.3 -2.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 5.2 30 21 7.9 +1.3
PEY Invesco High Yield Equity Dividend Achievers ETF 5.2 53 -2 9.2 +2.6
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 5.0 35 16 8.4 +1.8
RWJ Invesco S&P SmallCap 600 Revenue ETF 4.8 39 12 7.8 +1.3
ISMD Inspire Small/Mid Cap Impact ETF 4.8 60 -9 6.6 +0.0
IWN iShares Russell 2000 Value ETF 4.7 24 27 7.4 +0.8
VTWV Vanguard Russell 2000 Value Index Fund 4.7 15 36 7.5 +1.0
AFSM First Trust Active Factor Small Cap ETF 4.6 75 -24 5.7 -0.8
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 4.5 40 11 6.8 +0.3
IWM iShares Russell 2000 ETF 4.5 19 32 3.7 -2.9
VTWO Vanguard Russell 2000 Index Fund 4.4 10 41 3.7 -2.9
IWO iShares Russell 2000 Growth ETF 4.4 24 27 0.8 -5.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 4.4 20 31 6.0 -0.5
VTWG Vanguard Russell 2000 Growth Index Fund 4.3 15 36 0.8 -5.8
MJ ETFMG Alternative Harvest ETF 4.2 75 -24 -5.0 -11.6
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 4.2 35 16 9.6 +3.0
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 4.2 29 22 1.8 -4.8
TPSC Timothy Plan US Small Cap Core ETF 4.1 52 -1 8.4 +1.8
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 4.1 60 -9 8.6 +2.0
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 3.9 35 16 8.3 +1.7
ACT AdvisorShares Vice ETF 3.9 99 -48 5.6 -1.0
JHSC John Hancock Multifactor Small Cap ETF 3.9 42 9 6.0 -0.6
BKSE BNY Mellon US Small Cap Core Equity ETF 3.9 4 47 5.7 -0.8
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 3.8 80 -29 5.7 -0.9
KIE SPDR S&P Insurance ETF 3.8 35 16 10.3 +3.7
FVD First Trust Value Line Dividend Index Fund 3.7 70 -19 6.4 -0.2
DIV Global X SuperDividend US ETF 3.7 46 5 7.1 +0.5
JKL iShares Morningstar Small Cap Value ETF 3.7 30 21 10.5 +3.9
VBR Vanguard Small Cap Value Index Fund 3.6 7 44 8.5 +1.9
YLCO Global X YieldCo Index ETF 3.6 65 -14 4.6 -2.0
FYC First Trust Small Cap Growth AlphaDEX Fund 3.6 70 -19 2.5 -4.1
SSLY Syntax Stratified SmallCap ETF 3.5 30 21 6.3 -0.3
TPYP Tortoise North American Pipeline Fund 3.4 40 11 6.0 -0.6
JKK iShares Morningstar Small-Cap Growth ETF 3.4 30 21 1.1 -5.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 3.3 25 26 6.8 +0.2
NUSC Nuveen ESG Small-Cap ETF 3.3 40 11 5.4 -1.1
PSC Principal U.S. Small Cap Index ETF 3.3 38 13 7.1 +0.6
XSVM Invesco S&P SmallCap Value with Momentum ETF 3.2 39 12 11.8 +5.3
SCHA Schwab U.S. Small-Cap ETF 3.2 4 47 4.7 -1.8
OSCV Opus Small Cap Value Plus ETF 3.2 79 -28 5.6 -1.0
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 3.1 48 3 5.8 -0.8
RNMC Mid Cap US Equity Select ETF 3.1 60 -9 7.8 +1.3
XHS SPDR S&P Health Care Services ETF 3.1 35 16 4.4 -2.1
FYX First Trust Small Cap Core AlphaDEX Fund 3.0 63 -12 6.7 +0.1
FSMD Fidelity Small-Mid Factor ETF 3.0 29 22 7.1 +0.5
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 2.9 39 12 4.2 -2.3
CWS AdvisorShares Focused Equity ETF 2.8 85 -34 5.4 -1.2
JKJ iShares Morningstar Small-Cap ETF 2.8 25 26 6.8 +0.2
IUSS Invesco Strategic US Small Company ETF 2.8 23 28 5.5 -1.1
DVP Deep Value ETF 2.8 59 -8 12.2 +5.6
ROGS Hartford Multifactor Global Small Cap ETF 2.7 34 17 8.0 +1.5
VFMV Vanguard U.S. Minimum Volatility ETF 2.7 13 38 3.9 -2.6
EES WisdomTree SmallCap Earnings Fund 2.7 38 13 11.8 +5.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 2.7 17 34 5.2 -1.4
PBSM Invesco PureBeta MSCI USA Small Cap ETF 2.7 6 45 5.4 -1.2
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 2.6 29 22 9.8 +3.2
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 2.6 24 27 7.3 +0.7
VPU Vanguard Utilities Index Fund 2.6 10 41 5.8 -0.7
FUTY Fidelity MSCI Utilities Index ETF 2.6 8 43 5.9 -0.7
VSDA VictoryShares Dividend Accelerator ETF 2.6 35 16 4.9 -1.7
CSML IQ Chaikin U.S. Small Cap ETF 2.5 35 16 4.2 -2.3
KBWP Invesco KBW Property & Casualty Insurance ETF 2.5 35 16 7.4 +0.9

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 Small 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 12.5 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 51 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 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.