Legg Mason International Low Volatility High Dividend ETF
ALTAR
Score™
9.4% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
13.2x P/Sales
ratio
1.0x
P/BV
ratio
1.3x Div.
yield
5.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Legg Mason International Low Volatility High Dividend ETF tracks an all-cap index of developed ex-U.S. stocks. Stocks are selected and weighted to emphasize profitability, high dividends, low price volatility and low earnings volatility.

FUND BASICS
Category International Equities
Fund Sponsor Legg Mason
Website www.leggmasonetf.com
Inception date Jul 27, 2016
Assets (mns) $55
Currency USD
Expense ratio 40 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 90
Wgt avg mkt cap (mns) $49,298
Large cap (>$10bn) 86.6%
Mid cap ($2-10bn) 11.2%
Small cap (<$2bn) 2.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MITSUBISHI CORP 2.9 %
UNILEVER NV 2.8 %
BRITISH AMERICAN TOBACCO PLC 2.7 %
CAN IMPERIAL BK OF COMMERCE 2.6 %
NOVARTIS AG-REG 2.6 %
BCE INC. 2.6 %
DEUTSCHE TELEKOM AG 2.6 %
SWISSCOM AG 2.5 %
JAPAN TOBACCO INC 2.5 %
ZURICH FINANCIAL SERVICES AG 2.5 %
Total 26.3 %

TOP COUNTRY EXPOSURE
JAPAN 14.8 %
SWITZERLAND 13.4 %
CANADA 10.5 %
BRITAIN 10.4 %
HONG KONG 8.2 %
SINGAPORE 6.7 %
AUSTRALIA 5.4 %
NETHERLANDS 5.3 %
GERMANY 5.2 %
FRANCE 5.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.8% -8.1% -- -- 3.2%

Market Correlations
versus... Beta R-squared
S&P500 0.61 62%
MSCI EAFE 0.74 79%
MSCI Emg. Mkts. 0.50 57%

Technical Indicators
Recent close $21.69
30d moving avg. $22.36
Annualized volatility 13.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.3%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $3,309

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Legg Mason International Low Volatility High Dividend ETF ETF based on the alternatives' overlap in portfolio holdings with LVHI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: LVHI Expense: 40 bp ALTAR Score™: 9.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH LVHI
Ticker Fund
Name
Overlap1
vs LVHI
(%)
Expense
ratio
(bp)
Savings
vs LVHI
(bp)
ALTAR
Score™
(%)
ALTAR
vs LVHI
(%)
VGFO Virtus WMC Global Factor Opportunities ETF 37.4 49 -9 8.1 -1.3
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 31.0 45 -5 10.3 +0.9
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 29.1 30 10 8.7 -0.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 28.2 80 -40 6.6 -2.9
IDV iShares International Select Dividend ETF 26.7 49 -9 10.8 +1.3
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 25.3 20 20 9.9 +0.5
WDIV SPDR Global Dividend ETF 25.1 40 0 10.1 +0.7
FID First Trust S&P International Dividend Aristocrats ETF 23.6 60 -20 10.1 +0.7
DOO WisdomTree International Dividend ex-Financials Fund 22.7 58 -18 9.0 -0.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 21.4 20 20 11.6 +2.2
EFAV iShares Edge MSCI Min Vol EAFE ETF 21.2 20 20 5.5 -4.0
DOL WisdomTree International LargeCap Dividend Fund 20.9 48 -8 8.8 -0.6
DTH WisdomTree DEFA Equity Income Fund 20.4 58 -18 10.1 +0.7
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 19.7 32 8 6.0 -3.4
OEUR O'shares FTSE Europe Quality Dividend ETF 19.5 48 -8 6.8 -2.6
GCOW Pacer Global High Dividend ETF 19.3 60 -20 10.9 +1.4
FDEV Fidelity Targeted International Factor ETF 19.1 39 1 6.5 -3.0
IDY Pacific Global International Equity Income ETF 18.8 39 1 8.1 -1.3
FIDI Fidelity International High Dividend ETF 18.5 39 1 11.6 +2.2
IQDE FlexShares International Quality Dividend Defensive Index Fd 18.4 47 -7 9.3 -0.1
DWX SPDR S&P International Dividend ETF 17.7 45 -5 7.8 -1.6
EFAS Global X MSCI SuperDividend EAFE ETF 17.6 56 -16 9.9 +0.5
IQDF FlexShares International Quality Dividend Index Fund 17.6 47 -7 9.2 -0.3
IDOG ALPS International Sector Dividend Dogs ETF 17.1 50 -10 11.2 +1.8
IDLV Invesco S&P International Developed Low Volatility ETF 16.8 25 15 6.6 -2.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 16.7 59 -19 12.9 +3.4
EFV iShares MSCI EAFE Value ETF 16.1 39 1 9.9 +0.5
DWMF WisdomTree International Multifactor Fund 16.1 38 2 6.2 -3.2
DWM WisdomTree International Equity Fund 16.0 48 -8 8.5 -1.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 15.8 35 5 8.7 -0.7
VYMI Vanguard International High Dividend Yield ETF 15.7 27 13 10.5 +1.1
MVIN Natixis Seeyond International Minimum Volatility ETF 15.6 56 -16 5.6 -3.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 14.9 29 11 7.7 -1.7
RNDM Developed International Equity Select ETF 14.8 65 -25 6.3 -3.1
ESGN Columbia Sustainable International Equity Income ETF 14.7 45 -5 10.9 +1.4
DMDV AAM S&P Developed Markets High Dividend Value ETF 14.6 39 1 11.4 +2.0
IGRO iShares International Dividend Growth ETF 14.5 22 18 8.2 -1.3
QEFA SPDR MSCI EAFE Quality Mix ETF 14.1 30 10 6.9 -2.5
RFEU First Trust Riverfront Dynamic Europe ETF 13.6 83 -43 5.9 -3.5
DVYA iShares Asia/Pacific Dividend ETF 13.5 49 -9 13.6 +4.2
FIVA Fidelity International Value Factor ETF 13.4 39 1 9.9 +0.5
IEV iShares Europe ETF 13.3 59 -19 7.0 -2.5
PDEV Principal International Multi-Factor Core Index ETF 13.1 25 15 8.0 -1.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 13.1 25 15 6.5 -2.9
BBEU JPMorgan BetaBuilders Europe ETF 12.9 9 31 7.5 -1.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 12.9 47 -7 9.4 -0.1
RBIN Nationwide Risk-Based International Equity ETF 12.8 42 -2 6.1 -3.4
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 12.4 30 10 0.0 -9.4
FLEE Franklin FTSE Europe ETF 12.4 9 31 7.2 -2.3
BKIE BNY Mellon International Equity ETF 12.3 4 36 7.4 -2.0
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 12.3 30 10 0.0 -9.4
IVLU iShares Edge MSCI Intl Value Factor ETF 12.3 30 10 11.7 +2.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 12.3 45 -5 6.7 -2.7
IDHQ Invesco S&P International Developed Quality ETF 12.2 29 11 5.0 -4.4
JHMD John Hancock Multifactor Developed International ETF 12.0 39 1 7.5 -2.0
RFDI First Trust Riverfront Dynamic Developed International ETF 11.9 83 -43 5.7 -3.7
FLEH Franklin FTSE Europe Hedged ETF 11.8 9 31 7.2 -2.2
IEUR iShares Core MSCI Europe ETF 11.8 9 31 7.4 -2.1
GSID Goldman Sachs MarketBeta International Equity ETF 11.8 20 20 7.4 -2.1
VGK Vanguard FTSE Europe ETF 11.7 8 32 7.6 -1.9
EFA iShares MSCI EAFE ETF 11.7 32 8 7.1 -2.3
ICOW Pacer Developed Markets International Cash Cows 100 ETF 11.6 65 -25 11.2 +1.7
FEU SPDR Portfolio Europe ETF 11.6 9 31 7.4 -2.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 11.4 45 -5 9.1 -0.4
EPP iShares MSCI Pacific ex-Japan ETF 11.4 48 -8 6.7 -2.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 11.3 35 5 6.9 -2.5
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 11.3 19 21 7.0 -2.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 11.2 25 15 6.7 -2.7
EWL iShares MSCI Switzerland ETF 11.2 50 -10 5.0 -4.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 11.1 20 20 7.1 -2.3
HFXI IQ 50 Percent Hedged FTSE International ETF 10.8 20 20 7.5 -1.9
FDD First Trust Stoxx European Select Dividend Index Fund 10.7 58 -18 11.8 +2.4
CIL VictoryShares International Volatility Weighted Index ETF 10.7 45 -5 6.7 -2.7
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 10.7 45 -5 6.7 -2.7
IQIN IQ 500 International ETF 10.6 25 15 8.8 -0.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 10.5 7 33 7.6 -1.9
SCHF Schwab International Equity ETF 10.4 6 34 7.4 -2.0
FNDF Schwab Fundamental International Large Co. Index ETF 10.4 25 15 8.9 -0.5
KXI iShares Global Consumer Staples ETF 10.3 46 -6 5.3 -4.1
FLSW Franklin FTSE Switzerland ETF 10.3 9 31 5.5 -3.9
FYLD Cambria Foreign Shareholder Yield ETF 10.3 59 -19 7.0 -2.4
IEFA iShares Core MSCI EAFE ETF 10.2 7 33 7.4 -2.1
ISDX Invesco Strategic Developed ex-US ETF 10.1 23 17 7.5 -2.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 10.0 39 1 6.6 -2.8
IQLT iShares Edge MSCI Intl Quality Factor ETF 9.7 30 10 6.1 -3.4
MOTI VanEck Vectors Morningstar International Moat ETF 9.7 57 -17 8.7 -0.7
ACWV iShares Edge MSCI Min Vol Global ETF 9.7 20 20 5.8 -3.6
IQSI IQ Candriam ESG International Equity ETF 9.7 15 25 7.4 -2.1
IDEV iShares Core MSCI International Developed Markets ETF 9.7 5 35 7.3 -2.1
QCAN SPDR MSCI Canada Quality Mix ETF 9.6 14 26 7.2 -2.3
ESGD iShares MSCI EAFE ESG Optimized ETF 9.6 20 20 7.0 -2.4
LVIN Hartford Multifactor Low Volatility International Equity ETF 9.6 29 11 11.6 +2.1
TPIF Timothy Plan International ETF 9.6 62 -22 6.3 -3.1
JPIN JPMorgan Diversified Return International Equity ETF 9.5 37 3 7.9 -1.5
VEA Vanguard FTSE Developed Markets ETF 9.3 5 35 7.5 -2.0
SPDW SPDR Portfolio Developed World ex-US ETF 9.0 4 36 7.2 -2.2
CWI SPDR MSCI ACWI ex-US ETF 8.7 30 10 7.3 -2.1
PID Invesco International Dividend Achievers ETF 8.6 53 -13 9.9 +0.5

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:
Legg Mason International Low Volatility High Dividend ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.3 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 9.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.57
 
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.