Innovator Lunt Low Vol/High Beta Tactical ETF
ALTAR
Score™
10.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
12.2x P/Sales
ratio
1.0x
P/BV
ratio
1.3x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Elkhorn Lunt Low Vol/High Beta Tactical ETF tracks an index that rotates between two sub-indices: the S&P 500 High Beta Index and the S&P 500 Low Volatility Index, whichever has the highest relative strength measure.

FUND BASICS
Category US Equities
Fund Sponsor Elkhorn
Website www.elkhorn.com
Inception date Oct 20, 2016
Assets (mns) $97
Currency USD
Expense ratio 49 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $38,300
Large cap (>$10bn) 67.1%
Mid cap ($2-10bn) 31.9%
Small cap (<$2bn) 1.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NVIDIA CORP 2.1 %
ADVANCED MICRO DEVICES 1.9 %
IPG PHOTONICS CORP 1.9 %
KEYSIGHT TECHNOLOGIES INC 1.6 %
MICRON TECHNOLOGY INC 1.5 %
XILINX INC 1.5 %
UNITED RENTALS INC 1.4 %
KLA-TENCOR CORPORATION 1.4 %
ALEXION PHARMACEUTICALS INC 1.4 %
SEAGATE TECHNOLOGY 1.4 %
Total 16.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
BRITAIN 3.1 %
IRELAND 2.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-35.0% -23.9% -- -- 1.6%

Market Correlations
versus... Beta R-squared
S&P500 1.03 69%
MSCI EAFE 1.05 69%
MSCI Emg. Mkts. 0.83 63%

Technical Indicators
Recent close $24.79
30d moving avg. $30.03
Annualized volatility 18.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 53
Turnover 1.4%
Bid/Ask (% of price) 0.59%
ADV underlying (mns) $67,454

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Innovator Lunt Low Vol/High Beta Tactical ETF ETF based on the alternatives' overlap in portfolio holdings with LVHB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: LVHB Expense: 49 bp ALTAR Score™: 10.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH LVHB
Ticker Fund
Name
Overlap1
vs LVHB
(%)
Expense
ratio
(bp)
Savings
vs LVHB
(bp)
ALTAR
Score™
(%)
ALTAR
vs LVHB
(%)
SPHB Invesco S&P 500 High Beta ETF 99.6 25 24 11.0 +0.3
SLT Salt TruBeta High Exposure ETF 39.5 29 20 11.5 +0.8
RYT Invesco S&P 500 Equal Weight Technology ETF 39.4 40 9 8.0 -2.7
JHMT John Hancock Multifactor Technology ETF 29.8 40 9 6.6 -4.1
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 27.8 57 -8 6.1 -4.6
EQRR ProShares Equities for Rising Rates ETF 25.7 35 14 11.3 +0.7
RPG Invesco S&P 500 Pure Growth ETF 25.4 35 14 6.3 -4.4
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 24.9 60 -11 8.7 -1.9
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 24.8 60 -11 5.4 -5.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 24.7 35 14 5.6 -5.0
SPYB SPDR S&P 500 Buyback ETF 23.9 35 14 11.0 +0.4
FXL First Trust Technology AlphaDEX Fund 23.6 61 -12 5.2 -5.4
SPGP Invesco S&P 500 GARP ETF 23.3 35 14 10.3 -0.3
PY Principal Shareholder Yield Index ETF 23.2 29 20 11.9 +1.3
ONEY SPDR Russell 1000 Yield Focus ETF 22.5 20 29 11.5 +0.8
SMH VanEck Vectors Semiconductor ETF 21.9 35 14 7.2 -3.5
MAGA Point Bridge GOP Stock Tracker ETF 21.6 72 -23 9.1 -1.6
QTUM Defiance Quantum ETF 21.2 40 9 7.0 -3.6
RPV Invesco S&P 500 Pure Value ETF 20.8 35 14 16.5 +5.9
SOXX iShares PHLX Semiconductor ETF 20.5 46 3 6.9 -3.8
FTXL First Trust Nasdaq Semiconductor ETF 20.5 60 -11 6.8 -3.8
RVRS Reverse Cap Weighted U.S. Large Cap ETF 20.1 29 20 10.0 -0.6
FTA First Trust Large Cap Value AlphaDEX Fund 19.9 60 -11 11.6 +1.0
PEXL Pacer US Export Leaders ETF 19.9 60 -11 8.6 -2.0
ESGS Columbia Sustainable U.S. Equity Income ETF 18.5 35 14 11.7 +1.0
FEX First Trust Large Cap Core AlphaDEX Fund 18.3 60 -11 7.7 -2.9
RNLC Large Cap US Equity Select ETF 18.0 60 -11 7.8 -2.8
FLAG FLAG-Forensic Accounting Long Short ETF 17.9 152 -103 11.2 +0.5
IQM Franklin Intelligent Machines ETF 17.9 50 -1 3.3 -7.3
LSAF LeaderShares AlphaFactor US Core Equity ETF 17.8 75 -26 8.5 -2.1
RYF Invesco S&P 500 Equal Weight Financials ETF 17.3 40 9 11.4 +0.7
RSP Invesco S&P 500 Equal Weight ETF 17.1 20 29 8.5 -2.2
RDVY First Trust Rising Dividend Achievers ETF 17.1 50 -1 9.6 -1.0
QDIV Global X S&P 500 Quality Dividend ETF 17.0 20 29 10.4 -0.2
XLK Technology Select Sector SPDR Fund 16.8 13 36 6.1 -4.5
VLUE iShares Edge MSCI USA Value Factor ETF 16.7 15 34 13.8 +3.2
XSD SPDR S&P Semiconductor ETF 16.7 35 14 5.5 -5.2
TDV ProShares S&P Technology Dividend Aristocrats ETF 16.5 45 4 6.1 -4.6
JVAL JPMorgan U.S. Value Factor ETF 16.5 12 37 11.5 +0.9
XNTK SPDR Morgan Stanley Technology ETF 16.3 35 14 5.2 -5.5
IYW iShares U.S. Technology ETF 16.2 42 7 5.4 -5.2
TPHD Timothy Plan High Dividend Stock ETF 16.2 52 -3 9.0 -1.6
DSTL Distillate US Fundamental Stability & Value ETF 16.1 39 10 7.5 -3.1
ETHO Etho Climate Leadership U.S. ETF 15.9 47 2 6.4 -4.2
VOT Vanguard Mid-Cap Growth Index Fund 15.8 7 42 4.9 -5.8
XT iShares Exponential Technologies ETF 15.8 47 2 6.6 -4.1
DRIV Global X Autonomous & Electric Vehicles ETF 15.8 68 -19 8.3 -2.4
USDY Pacific Global US Equity Income ETF 15.7 29 20 10.2 -0.4
FTEC Fidelity MSCI Information Technology Index ETF 15.6 8 41 6.0 -4.6
VGT Vanguard Information Technology Index Fund 15.6 10 39 6.0 -4.6
PSET Principal Price Setters Index ETF 15.5 29 20 6.8 -3.9
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 15.4 35 14 11.0 +0.3
SYLD Cambria Shareholder Yield ETF 15.3 59 -10 14.3 +3.6
VO Vanguard Mid-Cap Index Fund 15.3 4 45 7.4 -3.3
VOE Vanguard Mid-Cap Value Index Fund 15.2 7 42 10.4 -0.3
LRGF iShares Edge MSCI Multifactor USA ETF 15.2 20 29 8.8 -1.9
TDIV First Trust NASDAQ Technology Dividend Index Fund 15.2 50 -1 7.5 -3.1
QSY WisdomTree U.S. LargeCap Value Fund 14.9 38 11 9.2 -1.4
BIBL Inspire ETF 14.9 35 14 6.0 -4.6
IXN iShares Global Tech ETF 14.8 46 3 6.0 -4.6
IGM iShares North American Tech ETF 14.8 46 3 5.1 -5.5
SDOG ALPS Sector Dividend Dogs ETF 14.7 40 9 13.3 +2.7
JKI iShares Morningstar Mid-Cap Value ETF 14.7 30 19 12.8 +2.1
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 14.6 30 19 8.2 -2.4
ONEO SPDR Russell 1000 Momentum Focus ETF 14.5 20 29 9.0 -1.6
SPYD SPDR S&P 500 High Dividend ETF 14.5 7 42 13.6 +2.9
NULG Nuveen ESG Large-Cap Growth ETF 14.5 35 14 4.6 -6.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 14.5 17 32 8.6 -2.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 14.4 9 40 7.8 -2.9
IWP iShares Russell Mid-Cap Growth ETF 14.2 24 25 5.8 -4.9
PSI Invesco Dynamic Semiconductors ETF 14.2 58 -9 6.9 -3.7
FTC First Trust Large Cap Growth AlphaDEX Fund 14.1 61 -12 4.2 -6.4
KRMA Global X Conscious Companies ETF 14.0 43 6 7.2 -3.5
DTN WisdomTree U.S. Dividend ex-Financials Fund 14.0 38 11 9.9 -0.8
SCIU Global X Scientific Beta US ETF 13.8 19 30 7.4 -3.3
EUSA iShares MSCI USA Equal Weighted ETF 13.8 15 34 8.1 -2.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 13.6 15 34 6.7 -3.9
RNDV US Equity Dividend Select ETF 13.6 50 -1 10.1 -0.6
SIZE iShares Edge MSCI USA Size Factor ETF 13.5 15 34 8.0 -2.7
QGRO American Century STOXX U.S. Quality Growth ETF 13.4 29 20 4.4 -6.3
SPVU Invesco S&P 500 Enhanced Value ETF 13.4 13 36 15.1 +4.5
QYLD Global X NASDAQ 100 Covered Call ETF 13.4 60 -11 4.8 -5.8
RGI Invesco S&P 500 Equal Weight Industrials ETF 13.3 40 9 7.9 -2.8
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 13.3 50 -1 6.1 -4.6
VEGN US Vegan Climate ETF 13.3 60 -11 6.9 -3.8
DIVB iShares U.S. Dividend & Buyback ETF 13.3 25 24 8.5 -2.1
JKG iShares Morningstar Mid-Cap ETF 13.3 25 24 7.8 -2.9
CACG ClearBridge All Cap Growth ETF 13.3 54 -5 5.5 -5.1
TTAC TrimTabs Float Shrink ETF 13.2 59 -10 5.1 -5.6
HLAL Wahed FTSE USA Shariah ETF 13.1 50 -1 6.1 -4.6
NUSI Nationwide Risk-Managed Income ETF 13.1 68 -19 4.8 -5.9
FDRR Fidelity Dividend ETF for Rising Rates 13.0 29 20 9.4 -1.3
QDYN FlexShares Quality Dividend Dynamic Index Fund 12.9 37 12 8.9 -1.8
QQQ Invesco QQQ Trust 12.9 20 29 5.2 -5.4
ROBO Robo Global Robotics & Automation Index ETF 12.9 95 -46 5.0 -5.7
SPDV AAM S&P 500 High Dividend Value ETF 12.9 29 20 13.8 +3.2
AIQ Global X Future Analytics Tech ETF 12.9 68 -19 5.7 -5.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 12.8 49 0 7.3 -3.4
FONE First Trust Indxx NextG ETF 12.8 70 -21 7.4 -3.2
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 12.7 25 24 9.7 -0.9

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:
Innovator Lunt Low Vol/High Beta Tactical 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 13.8 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 10.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.51
 
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.