LeaderShares AlphaFactor US Core Equity ETF
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
14.8x P/Sales
ratio
1.5x
P/BV
ratio
2.7x 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) $80
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) $64,568
Large cap (>$10bn) 79.0%
Mid cap ($2-10bn) 21.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LENNAR CORP-CL A 1.2 %
MCKESSON CORP 1.2 %
ETSY, INC. 1.2 %
PULTE HOMES INC 1.2 %
LAM RESEARCH CORP 1.1 %
GODADDY, INC. CLASS A 1.1 %
PLANET FITNESS INC CLASS A 1.1 %
DAVITA INC 1.1 %
SAIC INC 1.1 %
SANTANDER CONSUMER USA HOLDI 1.1 %
Total 11.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.2 %
IRELAND 2.1 %
BRITAIN 1.1 %
BERMUDA 0.9 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.8% 14.6% -- -- 11.5%

Market Correlations
versus... Beta R-squared
S&P500 1.13 94%
MSCI EAFE 1.36 87%
MSCI Emg. Mkts. 0.85 60%

Technical Indicators
Recent close $27.44
30d moving avg. $27.03
Annualized volatility 17.9%
Short interest (ETF) 0.3%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.5%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $32,299

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the LeaderShares AlphaFactor US Core Equity ETF 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™: 6.5%


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 47.6 35 40 8.3 +1.8
QSY WisdomTree U.S. Quality Shareholder Yield 44.7 38 37 7.3 +0.8
FLAG Forensic Accounting 27.1 152 -77 8.2 +1.7
PY Principal Shareholder Yield 26.8 29 46 8.1 +1.6
PKW Invesco Buyback Acheivevers 26.0 62 13 6.4 -0.1
SPVM Invesco S&P 500 Value with Momentum 24.7 39 36 8.2 +1.7
QLC FlexShares US Quality Large Cap 24.5 32 43 6.0 -0.5
SYLD Cambria Shareholder Yield 23.4 59 16 9.1 +2.6
USMF WisdomTree U.S. Multifactor Fund 21.9 28 47 6.0 -0.5
AFLG First Trust Active Factor Large Cap 21.4 55 20 6.2 -0.3
QQEW First Trust NASDAQ 100 Equal Weight 21.2 60 15 4.7 -1.8
FLQM Franklin LibertyQ U.S. Mid Cap Equity 21.2 30 45 6.4 -0.1
QQQE Direxion NASDAQ-100 Equal Weight 21.2 35 40 5.0 -1.5
DIVB iShares U.S. Dividend & Buyback 20.9 25 50 6.6 +0.1
RPG Invesco S&P 500 Pure Growth ETF 20.7 35 40 5.0 -1.5
DSTL Distillate US Fundamental Stability & Value 20.6 39 36 6.4 -0.1
ONEO SPDR Russell 1000 Momentum Focus 20.0 20 55 6.6 +0.1
VFMF Vanguard U.S. Multifactor 19.6 18 57 7.4 +0.9
SPGP Invesco S&P 500 GARP 19.4 35 40 7.8 +1.3

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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:
LeaderShares AlphaFactor US Core Equity ETF
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 18.9 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.56
 
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.