LeaderShares AlphaFactor US Core Equity ETF
ALTAR
Score™
7.4% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
18.6x P/Sales
ratio
1.2x
P/BV
ratio
2.0x Div.
yield
1.6%


  • 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 01, 2018
Assets (mns) $75
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) $96,799
Large cap (>$10bn) 68.4%
Mid cap ($2-10bn) 29.8%
Small cap (<$2bn) 1.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
COUPA SOFTWARE, INC. 1.8 %
CORELOGIC INC 1.7 %
EBAY INC 1.6 %
TERADYNE INC 1.3 %
AMAZON.COM INC 1.3 %
CREDIT ACCEPTANCE CORP 1.3 %
APPLE INC 1.2 %
DISH NETWORK CORP-A 1.2 %
XPO LOGISTICS INC 1.2 %
BEST BUY CO INC 1.2 %
Total 13.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
IRELAND 1.0 %
BERMUDA 1.0 %








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.
-12.7% -4.5% -- -- 1.7%

Market Correlations
versus... Beta R-squared
S&P500 1.25 96%
MSCI EAFE 1.36 92%
MSCI Emg. Mkts. 1.02 79%

Technical Indicators
Recent close $23.25
30d moving avg. $23.60
Annualized volatility 26.9%
Short interest (ETF) 0.1%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.3%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $72,630

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 7.4%


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 ETF 42.9 0 75 0.0 -7.4
QSY WisdomTree U.S. LargeCap Value Fund 35.4 38 37 7.0 -0.4
QLC FlexShares US Quality Large Cap Index Fund 26.8 32 43 5.4 -2.0
PKW Invesco Buyback Achievers ETF 24.5 62 13 6.9 -0.5
DIVB iShares U.S. Dividend & Buyback ETF 22.7 25 50 6.7 -0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 21.5 25 50 6.2 -1.2
RAFE PIMCO RAFI ESG U.S. ETF 20.8 29 46 8.0 +0.6
ESGS Columbia Sustainable U.S. Equity Income ETF 20.6 35 40 8.9 +1.4
FTA First Trust Large Cap Value AlphaDEX Fund 20.2 60 15 9.7 +2.3
KRMA Global X Conscious Companies ETF 19.9 43 32 5.2 -2.2
FVAL Fidelity Value Factor ETF 19.9 29 46 8.1 +0.7
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 19.9 20 55 7.8 +0.3
EPS WisdomTree U.S. Earnings 500 Fund 19.6 8 67 6.6 -0.9
SPVM Invesco S&P 500 Value with Momentum ETF 19.5 39 36 9.5 +2.1
VLU SPDR S&P 1500 Value Tilt ETF 19.3 12 63 7.7 +0.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 19.2 15 60 6.2 -1.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 18.8 25 50 6.7 -0.8
RWL Invesco S&P 500 Revenue ETF 18.8 39 36 7.4 -0.0
LRGF iShares Edge MSCI Multifactor USA ETF 18.7 20 55 7.4 -0.0
EXT WisdomTree U.S. Total Earnings Fund 18.7 28 47 5.2 -2.2
SYE SPDR MFS Systematic Core Equity ETF 18.4 60 15 5.6 -1.8
JVAL JPMorgan U.S. Value Factor ETF 18.3 12 63 9.0 +1.6
PRF Invesco FTSE RAFI US 1000 ETF 18.3 39 36 7.0 -0.4
RNLC Large Cap US Equity Select ETF 18.3 60 15 6.3 -1.1
FCPI Fidelity Stocks for Inflation ETF 18.2 29 46 7.0 -0.4
VALQ American Century STOXX U.S. Quality Value ETF 18.2 29 46 9.4 +2.0
SYLD Cambria Shareholder Yield ETF 18.0 59 16 9.3 +1.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 17.9 25 50 6.7 -0.7
ROUS Hartford Multifactor US Equity ETF 17.8 19 56 7.5 +0.0
AFLG First Trust Active Factor Large Cap ETF 17.8 55 20 5.6 -1.9
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 17.7 49 26 9.8 +2.3
RPG Invesco S&P 500 Pure Growth ETF 17.7 35 40 4.4 -3.1
SPHB Invesco S&P 500 High Beta ETF 17.7 25 50 9.9 +2.5
COWZ Pacer US Cash Cows 100 ETF 17.6 49 26 11.2 +3.7
FEX First Trust Large Cap Core AlphaDEX Fund 17.4 60 15 6.1 -1.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 17.4 9 66 5.5 -1.9
JHML John Hancock Multifactor Large Cap ETF 17.4 29 46 5.6 -1.8
FQAL Fidelity Quality Factor ETF 17.3 29 46 5.5 -2.0
SYG SPDR MFS Systematic Growth Equity ETF 17.3 60 15 4.2 -3.2
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 17.2 59 16 4.1 -3.3
PY Principal Shareholder Yield Index ETF 17.2 29 46 9.9 +2.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 17.2 35 40 4.3 -3.1
AVUS Avantis U.S. Equity ETF 17.1 15 60 5.8 -1.6
DSTL Distillate US Fundamental Stability & Value ETF 17.1 39 36 6.6 -0.9
FDRR Fidelity Dividend ETF for Rising Rates 17.1 29 46 7.1 -0.3
STLG iShares Factors US Growth Style ETF 17.1 25 50 3.6 -3.8
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 17.0 25 50 8.0 +0.5
ESGU iShares MSCI USA ESG Optimized ETF 16.9 15 60 5.1 -2.3
DEF Invesco Defensive Equity ETF 16.8 55 20 5.1 -2.3
CATH Global X S&P 500 Catholic Values Custom ETF 16.7 29 46 5.2 -2.2
SNPE Xtrackers S&P 500 ESG ETF 16.5 11 64 5.1 -2.4
ESG FlexShares STOXX US ESG Impact Index Fund 16.5 32 43 5.1 -2.4
PBP Invesco S&P 500 BuyWrite ETF 16.5 49 26 5.0 -2.4
QDYN FlexShares Quality Dividend Dynamic Index Fund 16.5 37 38 6.3 -1.1
VOO VANGUARD S&P 500 ETF 16.4 3 72 5.4 -2.0
SPXE ProShares S&P 500 Ex-Energy ETF 16.4 27 48 5.3 -2.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 16.4 20 55 4.9 -2.5
ESGV Vanguard ESG U.S. Stock ETF 16.4 12 63 5.2 -2.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 16.3 20 55 5.4 -2.1
SPLG SPDR Portfolio Large Cap ETF 16.3 3 72 5.4 -2.0
SPY SPDR S&P 500 ETF Trust 16.3 9 66 5.4 -2.1
VUSE Vident Core US Equity Fund 16.3 48 27 8.6 +1.2
HSPX Global X S&P 500 Covered Call ETF 16.3 65 10 4.9 -2.6
IVV iShares Core S&P 500 ETF 16.3 4 71 5.4 -2.0
SUSA iShares MSCI USA ESG Select ETF 16.2 25 50 4.8 -2.6
QUS SPDR MSCI USA StrategicFactors ETF 16.2 15 60 5.9 -1.5
QDF FlexShares Quality Dividend Index Fund 16.2 37 38 6.2 -1.2
JQUA JPMorgan U.S. Quality Factor ETF 16.2 12 63 5.3 -2.2
CLRG IQ Chaikin U.S. Large Cap ETF 16.1 25 50 6.1 -1.3
VV Vanguard Large-Cap Index Fund 16.1 4 71 5.3 -2.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 16.1 7 68 5.2 -2.2
PBUS Invesco PureBeta MSCI USA ETF 16.1 4 71 5.3 -2.2
IUS Invesco Strategic US ETF 16.1 19 56 6.8 -0.6
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 16.0 25 50 6.0 -1.4
MGC Vanguard Mega Cap Index Fund 15.9 7 68 5.2 -2.2
STLV iShares Factors US Value Style ETF 15.9 25 50 8.1 +0.6
SPTM SPDR Portfolio Total Stock Market ETF 15.9 3 72 5.5 -1.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 15.9 2 73 5.3 -2.1
SCHX Schwab U.S. Large-Cap ETF 15.9 3 72 5.3 -2.1
VONE Vanguard Russell 1000 ETF 15.8 8 67 5.3 -2.2
SCHK Schwab 1000 Index ETF 15.6 5 70 5.3 -2.2
VTV Vanguard Value Index Fund 15.6 4 71 7.6 +0.2
IWB iShares Russell 1000 ETF 15.6 15 60 5.2 -2.2
JHMF John Hancock Multifactor Financials ETF 15.6 40 35 8.0 +0.6
IYY iShares Dow Jones U.S. ETF 15.6 20 55 5.2 -2.3
BKLC BNY Mellon US Large Cap Core Equity ETF 15.5 0 75 5.2 -2.2
VLUE iShares Edge MSCI USA Value Factor ETF 15.5 15 60 11.7 +4.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 15.5 75 0 3.7 -3.7
USDY Pacific Global US Equity Income ETF 15.5 29 46 7.5 +0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 15.5 27 48 5.0 -2.4
HIPR Direxion High Growth ETF 15.4 40 35 2.8 -4.7
MGV Vanguard Mega Cap Value ETF 15.4 7 68 7.5 +0.0
VTHR Vanguard Russell 3000 Index Fund 15.3 10 65 5.2 -2.3
VFMF Vanguard U.S. Multifactor ETF 15.3 19 56 7.4 -0.1
IWL iShares Russell Top 200 ETF 15.3 15 60 5.0 -2.4
RYT Invesco S&P 500 Equal Weight Technology ETF 15.2 40 35 6.7 -0.7
RECS Columbia Research Enhanced Core ETF 15.2 15 60 5.7 -1.8
VTI Vanguard Total Stock Market Index Fund 15.2 3 72 5.2 -2.3
OEF iShares S&P 100 ETF 15.2 20 55 4.8 -2.7
NACP Impact Shares NAACP Minority Empowerment ETF 15.2 75 0 4.5 -2.9

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:
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 15.6 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.