Salt Low truBeta US Market
ALTAR
Score™
6.9% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
17.4x P/Sales
ratio
1.8x
P/BV
ratio
2.4x Div.
yield
2.9%


  • 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 0 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) $60,306
Large cap (>$10bn) 84.3%
Mid cap ($2-10bn) 15.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PHILIP MORRIS INTERNATIONAL 1.2 %
CVS CAREMARK CORP 1.2 %
UNITEDHEALTH GROUP INC 1.2 %
ALTRIA GROUP INC 1.1 %
WESTERN UNION CO 1.1 %
COUSINS PROPERTIES INC 1.1 %
RESMED INC 1.1 %
FISERV INC 1.1 %
AGNC INVESTMENT CORP. 1.1 %
PPL CORPORATION 1.1 %
Total 11.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.3 %
IRELAND 1.0 %









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.
9.0% -- -- -- 9.0%

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

Technical Indicators
Recent close $28.11
30d moving avg. $27.82
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.6%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $23,350

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Salt Low truBeta US Market 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: 0 bp ALTAR Score™: 6.9%


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 42.2 25 -25 5.2 -1.7
LVHB Elkhorn Lunt Low Vol/High Beta Tactical 42.1 52 -52 5.0 -1.9
USMV iShares MSCI USA Minimum Volatility 39.7 15 -15 5.2 -1.7
JMIN JPMorgan U.S. Minimum Volatility 37.4 12 -12 5.6 -1.3
DEF Invesco Defensive Equity 35.3 59 -59 4.9 -2.0
HUSV First Trust Horizon Managed Volatility Domestic 34.7 70 -70 4.7 -2.2
RBUS Nationwide Risk-Based U.S. Equity 31.8 30 -30 6.1 -0.8
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility 31.2 25 -25 5.7 -1.2
LVUS Hartford Multifactor Low Volatility US Equity 30.5 21 -21 5.8 -1.1
KLCD KFA Large Cap Quality Dividend Index 30.2 41 -41 5.0 -1.9
FDLO Fidelity Low Volatility Factor 29.8 29 -29 5.3 -1.6
LGLV SPDR Russell 1000 Low Volatility 28.7 12 -12 5.2 -1.7
FLQL Franklin LibertyQ U.S. Equity 28.0 15 -15 6.8 -0.1
ROUS Lattice U.S. Equity Strategy ETF 26.8 19 -19 6.4 -0.5
MXDU Nationwide Maximum Diversification US Core Equity 26.7 34 -34 5.6 -1.3
JDIV JPMorgan U.S. Dividend 26.6 12 -12 7.5 +0.6
OVOL Invesco Russell 1000 Low Volatility Factor ETF 26.5 19 -19 5.6 -1.3
NFO Invesco Insider Sentiment 26.2 66 -66 4.4 -2.5
SPMV Invesco S&P 500 Minimum Variance 26.2 10 -10 6.0 -0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity 26.2 29 -29 6.3 -0.6

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

  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:
Salt Low truBeta US Market
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 15.5 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 0 bp
Equals: ALTAR Score 6.9 %
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.