LeaderShares AlphaFactor US Core Equity
ALTAR
Score™
6.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.0x P/Sales
ratio
1.5x
P/BV
ratio
3.0x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The LeaderShares AlphaFactor US Core Equity ETF tracks an equal-weighted index of US stocks selected by multiple fundamental factors.

FUND BASICS
Category US Equities
Fund Sponsor Redwood Investment Management
Website www.leadersharesetfs.com
Inception date Oct 02, 2018
Assets (mns) $77
Currency USD
Expense ratio 75 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $59,266
Large cap (>$10bn) 67.2%
Mid cap ($2-10bn) 32.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
UBIQUITI NETWORKS INC 1.4 %
QORVO INC 1.3 %
PREMIER INC-CLASS A 1.2 %
XEROX CORP 1.2 %
WESTERN UNION CO 1.1 %
OSHKOSH CORP 1.1 %
CARTER'S INC 1.1 %
LAM RESEARCH CORP 1.1 %
APPLE INC 1.1 %
PHILLIPS 66 1.1 %
Total 11.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
IRELAND 2.0 %
BERMUDA 1.0 %
PUERTO RICO 1.0 %
BRITAIN 0.9 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
20.9% -- -- -- 10.9%

Market Correlations
versus... Beta R-squared
S&P500 1.12 95%
MSCI EAFE 1.40 90%
MSCI Emg. Mkts. 1.02 70%

Technical Indicators
Recent close $26.25
30d moving avg. $25.29
Annualized volatility 19.5%
Short interest (ETF) 0.3%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.3%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $28,562

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the LeaderShares AlphaFactor US Core Equity ETF based on the alternatives' overlap in portfolio holdings with LSAF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: LSAF Expense: 75 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH LSAF
Ticker Fund
Name
Overlap1
vs LSAF
(%)
Expense
ratio
(bp)
Savings
vs LSAF
(bp)
ALTAR
Score™
(%)
ALTAR
vs LSAF
(%)
SPYB SPDR S&P 500 Buyback 38.2 35 40 7.4 +0.8
QSY WisdomTree U.S. Quality Shareholder Yield 32.0 38 37 7.0 +0.4
PY Principal Shareholder Yield 26.6 29 46 8.0 +1.4
QLC FlexShares US Quality Large Cap 25.4 32 43 6.6 -0.0
PKW Invesco Buyback Acheivevers 23.4 62 13 6.0 -0.6
JQUA JPMorgan U.S. Quality Factor 22.1 12 63 5.8 -0.7
USMF WisdomTree U.S. Multifactor Fund 22.0 28 47 7.0 +0.5
FLAG Forensic Accounting 21.9 152 -77 8.6 +2.0
SYLD Cambria Shareholder Yield 21.1 59 16 9.1 +2.5
DSTL Distillate US Fundamental Stability & Value 21.1 39 36 7.3 +0.7
FLQM Franklin LibertyQ U.S. Mid Cap Equity 20.9 30 45 6.9 +0.3
FQAL Fidelity Quality Factor 20.0 29 46 5.8 -0.7
DIVB iShares U.S. Dividend & Buyback 19.1 25 50 6.7 +0.1
QGRO American Century STOXX U.S. Quality Growth 18.8 29 46 4.8 -1.7
COWZ Pacer US Cash Cows 100 18.8 49 26 9.9 +3.3
ONEO SPDR Russell 1000 Momentum Focus 18.6 20 55 6.5 -0.1
ROUS Lattice U.S. Equity Strategy ETF 18.4 19 56 6.4 -0.1
QVM Arrow Investments Trust QVM Equity Factor 18.1 65 10 8.3 +1.8
PLC Principal U.S. Large-Cap Multi-Factor Core Index 18.1 15 60 5.5 -1.1
KRMA Global X Conscious Companies 18.0 43 32 6.2 -0.4

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

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
LeaderShares AlphaFactor US Core Equity
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 18.8 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 CATEGORY
AVERAGE
1.55
 
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.