Salt Low truBeta US Market ETF
ALTAR
Score™
5.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
19.3x P/Sales
ratio
2.4x
P/BV
ratio
3.0x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
LSLT seeks to track the investment results of The Salt Low truBeta™ US Market Index. The Index targets U.S. large and midcap stocks with lower sensitivity to the SPDR S&P 500 ETF and less variability in their historical betas.

FUND BASICS
Category US Equities
Fund Sponsor Salt Financial
Website www.salt-funds.com
Inception date Mar 12, 2019
Assets (mns) $9
Currency USD
Expense ratio 60 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 99
Wgt avg mkt cap (mns) $73,056
Large cap (>$10bn) 88.0%
Mid cap ($2-10bn) 12.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ELI LILLY & CO 1.3 %
AMGEN INC 1.1 %
GENTEX CORP 1.1 %
DIGITAL REALTY TRUST INC 1.1 %
KROGER CO 1.1 %
MOLSON COORS BREWING CO -B 1.1 %
KNIGHT-SWIFT TRANSPORTATION HOLDIN 1.1 %
BRISTOL-MYERS SQUIBB CO 1.1 %
ARCHER-DANIELS-MIDLAND CO 1.1 %
CUBESMART 1.1 %
Total 10.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.6 %
IRELAND 1.0 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
3.3% 3.3% -- -- 9.5%

Market Correlations
versus... Beta R-squared
S&P500 0.74 85%
MSCI EAFE 0.66 74%
MSCI Emg. Mkts. 0.55 62%

Technical Indicators
Recent close $28.81
30d moving avg. $28.59
Annualized volatility 16.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $34,727

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 potential alternatives to the Salt Low truBeta US Market ETF ETF based on the alternatives' overlap in portfolio holdings with LSLT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: LSLT Expense: 60 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH LSLT
Ticker Fund
Name
Overlap1
vs LSLT
(%)
Expense
ratio
(bp)
Savings
vs LSLT
(bp)
ALTAR
Score™
(%)
ALTAR
vs LSLT
(%)
SPLV Invesco S&P 500 Low Volatility ETF 46.5 25 35 5.5 -0.2
USMV iShares Edge MSCI Min Vol USA ETF 41.3 15 45 5.3 -0.4
JMIN JPMorgan U.S. Minimum Volatility ETF 38.1 12 48 5.3 -0.4
DEF Invesco Defensive Equity ETF 36.1 55 5 5.2 -0.5
HUSV First Trust Horizon Managed Volatility Domestic ETF 36.1 70 -10 4.8 -0.9
FLQL Franklin LibertyQ U.S. Equity ETF 33.9 15 45 5.9 +0.2
FDLO Fidelity Low Volatility Factor ETF 31.7 29 31 4.9 -0.8
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 30.8 25 35 5.8 +0.1
VOOV Vanguard S&P 500 Value ETF 30.6 10 50 6.6 +0.9
EQWL Invesco Russell Top 200 Equal Weight ETF 29.9 25 35 5.6 -0.1
RBUS Nationwide Risk-Based U.S. Equity ETF 29.7 30 30 4.6 -1.1
FVL First Trust Value Line 100 ETF 29.1 70 -10 6.0 +0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 29.0 28 32 6.1 +0.4
QUS SPDR MSCI USA StrategicFactors ETF 28.9 15 45 5.3 -0.5
DTN WisdomTree U.S. Dividend ex-Financials Fund 28.5 38 22 7.6 +1.9
FLLV Franklin Liberty U.S. Low Volatility ETF 28.3 29 31 4.9 -0.8
MGV Vanguard Mega Cap Value ETF 28.1 7 53 6.5 +0.8
OUSA O'Shares FTSE US Quality Dividend ETF 27.9 48 12 5.5 -0.3
SPMV Invesco S&P 500 Minimum Variance ETF 27.7 10 50 5.5 -0.3
SCHV Schwab U.S. Large-Cap Value ETF 27.5 4 56 6.1 +0.4
DGRO iShares Core Dividend Growth ETF 27.4 8 52 6.0 +0.3
DTD WisdomTree U.S.Total Dividend Fund 27.4 28 32 6.2 +0.5
GBLO Global Beta Low Beta ETF 27.3 29 31 7.3 +1.6
VTV Vanguard Value Index Fund 27.1 4 56 6.6 +0.9
SPYV SPDR Portfolio S&P 500 Value ETF 27.1 4 56 6.4 +0.7
IVE iShares S&P 500 Value ETF 27.0 18 42 6.3 +0.6
LGLV SPDR Russell 1000 Low Volatility ETF 27.0 12 48 5.2 -0.5
FVD First Trust Value Line Dividend Index Fund 26.9 70 -10 5.8 +0.1
ACWV iShares MSCI Global Min Vol Factor ETF 26.4 20 40 5.5 -0.2
VYM Vanguard High Dividend Yield Index ETF 26.1 6 54 6.7 +1.0
VSDA VictoryShares Dividend Accelerator ETF 25.9 35 25 4.6 -1.1
PFM Invesco Dividend Achievers ETF 25.8 53 7 5.0 -0.7
DGRW WisdomTree U.S. Quality Dividend Growth Fund 25.7 28 32 6.0 +0.3
IUSV iShares Core S&P U.S. Value ETF 25.7 4 56 6.4 +0.7
KLCD KFA Large Cap Quality Dividend Index ETF 25.7 42 18 5.1 -0.7
PSET Principal Price Setters Index ETF 25.4 15 45 4.6 -1.1
FTA First Trust Large Cap Value AlphaDEX Fund 25.3 60 0 7.3 +1.6
IWX iShares Russell Top 200 Value ETF 25.2 20 40 6.1 +0.4
JKF iShares Morningstar Large Cap Value ETF 25.1 25 35 6.7 +1.0
SPXT ProShares S&P 500 Ex-Technology ETF 25.0 27 33 4.9 -0.8
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 24.7 35 25 7.7 +2.0
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 24.6 35 25 7.7 +2.0
ESGV Vanguard ESG U.S. Stock ETF 24.6 12 48 4.5 -1.3
QDEF FlexShares Quality Dividend Defensive Index Fund 24.4 37 23 5.4 -0.3
EPS WisdomTree U.S. Earnings 500 Fund 24.4 8 52 5.9 +0.2
LVHD Legg Mason Low Volatility High Dividend ETF 24.3 27 33 7.7 +2.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 24.2 49 11 4.2 -1.5
TPHD Timothy Plan High Dividend Stock ETF 23.7 52 8 5.5 -0.2
JQUA JPMorgan U.S. Quality Factor ETF 23.5 12 48 5.0 -0.7
VONV Vanguard Russell 1000 Value Index Fund 23.5 8 52 6.2 +0.5
FQAL Fidelity Quality Factor ETF 22.7 29 31 5.0 -0.7
JPUS JPMorgan Diversified Return U.S. Equity ETF 22.7 18 42 5.6 -0.1
IWD iShares Russell 1000 Value ETF 22.6 19 41 6.0 +0.3
JDIV JPMorgan U.S. Dividend ETF 22.5 12 48 6.7 +1.0
ROUS Hartford Multifactor US Equity ETF 22.1 19 41 5.8 +0.1
CLRG IQ Chaikin U.S. Large Cap ETF 21.9 25 35 5.0 -0.7
FLRG Fidelity U.S. Multifactor ETF 21.9 29 31 5.8 +0.1
MGC Vanguard Mega Cap Index Fund 21.8 7 53 4.6 -1.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 21.7 30 30 5.0 -0.7
DIVB iShares U.S. Dividend & Buyback ETF 21.6 25 35 5.9 +0.2
IWL iShares Russell Top 200 ETF 21.6 15 45 4.4 -1.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 21.5 34 26 4.3 -1.4
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 21.4 40 20 6.3 +0.6
BKLC BNY Mellon US Large Cap Core Equity ETF 21.4 0 60 4.4 -1.3
SPXN ProShares S&P 500 Ex-Financials ETF 21.4 27 33 4.3 -1.4
JCTR JPMorgan Carbon Transition U.S. Equity ETF 21.2 15 45 4.6 -1.1
JHMS John Hancock Multifactor Consumer Staples ETF 21.1 40 20 5.7 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 21.1 20 40 4.8 -1.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 21.0 20 40 4.6 -1.1
PBP Invesco S&P 500 BuyWrite ETF 21.0 49 11 4.3 -1.4
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 21.0 35 25 5.1 -0.6
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 20.9 17 43 6.1 +0.4
SPXE ProShares S&P 500 Ex-Energy ETF 20.9 27 33 4.6 -1.1
XYLG Global X S&P 500 Covered Call & Growth ETF 20.7 60 0 4.4 -1.3
VIG Vanguard Dividend Appreciation Index Fund 20.6 6 54 5.0 -0.7
RAFE PIMCO RAFI ESG U.S. ETF 20.5 30 30 6.7 +1.0
SPY SPDR S&P 500 ETF Trust 20.4 9 51 4.7 -1.0
IVV iShares Core S&P 500 ETF 20.4 3 57 4.7 -1.0
OEF iShares S&P 100 ETF 20.4 20 40 4.2 -1.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 20.3 25 35 5.7 +0.0
SPLG SPDR Portfolio Large Cap ETF 20.3 3 57 4.7 -1.0
IECS iShares Evolved U.S. Consumer Staples ETF 20.3 18 42 5.5 -0.2
NULV Nuveen ESG Large-Cap Value ETF 20.3 35 25 6.1 +0.4
DVY iShares Select Dividend ETF 20.2 39 21 8.0 +2.3
EFIV SPDR S&P 500 ESG ETF 20.2 10 50 4.6 -1.2
SNPE Xtrackers S&P 500 ESG ETF 20.1 10 50 4.6 -1.2
QLV FlexShares US Quality Low Volatility Index Fund 20.1 22 38 4.3 -1.4
DSTL Distillate US Fundamental Stability & Value ETF 20.1 39 21 5.7 -0.0
VOO VANGUARD S&P 500 ETF 20.1 3 57 4.8 -0.9
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 20.1 9 51 4.8 -0.9
QDF FlexShares Quality Dividend Index Fund 20.0 37 23 5.5 -0.3
PRF Invesco FTSE RAFI US 1000 ETF 20.0 39 21 5.8 +0.1
SIXA 6 Meridian Mega Cap Equity ETF 20.0 82 -22 5.8 +0.1
SFY SoFi Select 500 ETF 20.0 0 60 4.6 -1.2
XLP Consumer Staples Select Sector SPDR Fund 19.9 13 47 5.4 -0.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 19.9 7 53 4.5 -1.2

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:
Salt Low truBeta US Market 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 17.5 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.49
 
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.