Legg Mason International Low Volatility High Dividend ETF
ALTAR
Score™
9.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
13.1x P/Sales
ratio
1.0x
P/BV
ratio
1.3x Div.
yield
5.5%


  • 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) $54
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 89
Wgt avg mkt cap (mns) $40,379
Large cap (>$10bn) 81.0%
Mid cap ($2-10bn) 16.7%
Small cap (<$2bn) 2.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
COMMONWEALTH BANK OF AUSTRAL 2.6 %
DEUTSCHE TELEKOM AG 2.6 %
ROYAL AHOLD DELHAIZE N.V. 2.6 %
DBS GROUP HOLDINGS LTD 2.6 %
BCE INC. 2.6 %
ORANGE SA 2.5 %
E.ON AG 2.5 %
ZURICH FINANCIAL SERVICES AG 2.5 %
BHP BILLITON LTD 2.5 %
UNILEVER NV 2.5 %
Total 25.4 %

TOP COUNTRY EXPOSURE
JAPAN 13.3 %
BRITAIN 12.9 %
CANADA 11.2 %
SWITZERLAND 9.1 %
AUSTRALIA 8.2 %
SINGAPORE 7.5 %
GERMANY 6.6 %
HONG KONG 5.4 %
NETHERLANDS 5.0 %
FRANCE 4.6 %

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.
-15.9% -10.9% -- -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.63 66%
MSCI EAFE 0.75 80%
MSCI Emg. Mkts. 0.53 63%

Technical Indicators
Recent close $22.09
30d moving avg. $22.27
Annualized volatility 13.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.4%
Bid/Ask (% of price) 0.46%
ADV underlying (mns) $8,459

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™: 9.3%


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
(%)
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 33.0 45 -5 10.0 +0.7
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 29.5 30 10 7.6 -1.8
IDV iShares International Select Dividend ETF 27.8 49 -9 10.2 +0.9
FID First Trust S&P International Dividend Aristocrats ETF 27.5 60 -20 9.9 +0.6
WDIV SPDR Global Dividend ETF 24.6 40 0 9.9 +0.6
DOO WisdomTree International Dividend ex-Financials Fund 24.4 58 -18 8.9 -0.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 24.2 20 20 9.6 +0.3
DWX SPDR S&P International Dividend ETF 23.6 45 -5 8.1 -1.2
DTH WisdomTree DEFA Equity Income Fund 22.4 58 -18 9.8 +0.5
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 20.1 20 20 11.1 +1.8
IDY Pacific Global International Equity Income ETF 19.6 39 1 8.1 -1.2
IDOG ALPS International Sector Dividend Dogs ETF 19.1 50 -10 11.1 +1.8
DOL WisdomTree International LargeCap Dividend Fund 19.0 48 -8 8.6 -0.7
OEUR O'shares FTSE Europe Quality Dividend ETF 18.6 48 -8 6.6 -2.7
EUMV iShares Edge MSCI Min Vol Europe ETF 18.1 25 15 5.0 -4.3
FGD First Trust Dow Jones Global Select Dividend Index Fund 18.0 59 -19 11.3 +2.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 17.8 32 8 6.4 -2.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 17.8 20 20 5.5 -3.8
GCOW Pacer Global High Dividend ETF 17.5 60 -20 10.5 +1.2
EFV iShares MSCI EAFE Value ETF 17.1 39 1 9.6 +0.3
EFAS Global X MSCI SuperDividend EAFE ETF 17.0 56 -16 9.7 +0.4
IQDF FlexShares International Quality Dividend Index Fund 16.7 47 -7 12.3 +3.0
FIDI Fidelity International High Dividend ETF 15.7 39 1 11.2 +1.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 15.3 80 -40 6.0 -3.4
DWMF WisdomTree International Multifactor Fund 15.1 38 2 6.8 -2.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 14.8 35 5 8.6 -0.7
DWM WisdomTree International Equity Fund 14.8 48 -8 8.3 -1.0
IQDE FlexShares International Quality Dividend Defensive Index Fd 14.7 47 -7 12.3 +3.0
VYMI Vanguard International High Dividend Yield ETF 14.3 32 8 10.2 +0.9
IDLV Invesco S&P International Developed Low Volatility ETF 14.2 25 15 6.7 -2.6
DVYA iShares Asia/Pacific Dividend ETF 13.8 49 -9 13.4 +4.1
DMDV AAM S&P Developed Markets High Dividend Value ETF 13.8 39 1 11.1 +1.8
EPP iShares MSCI Pacific ex-Japan ETF 13.1 48 -8 6.7 -2.6
MVIN Natixis Seeyond International Minimum Volatility ETF 13.1 56 -16 5.4 -3.9
FIVA Fidelity International Value Factor ETF 13.0 39 1 10.1 +0.7
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 12.9 19 21 7.0 -2.3
RNDM Developed International Equity Select ETF 12.8 65 -25 6.4 -2.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 12.4 29 11 8.8 -0.5
FDEV Fidelity Targeted International Factor ETF 12.3 39 1 6.6 -2.8
QEFA SPDR MSCI EAFE Quality Mix ETF 12.2 30 10 6.9 -2.4
ICOW Pacer Developed Markets International Cash Cows 100 ETF 12.0 65 -25 11.0 +1.7
FYLD Cambria Foreign Shareholder Yield ETF 12.0 59 -19 9.4 +0.1
FDD First Trust Stoxx European Select Dividend Index Fund 11.3 58 -18 11.6 +2.3
IEV iShares Europe ETF 11.0 59 -19 6.8 -2.5
PDEV Principal International Multi-Factor Core Index ETF 11.0 25 15 8.0 -1.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 10.8 45 -5 9.0 -0.4
RFEU First Trust Riverfront Dynamic Europe ETF 10.7 83 -43 5.4 -4.0
JHMD John Hancock Multifactor Developed International ETF 10.6 39 1 7.5 -1.8
RFDI First Trust Riverfront Dynamic Developed International ETF 10.6 83 -43 5.7 -3.6
BBEU JPMorgan BetaBuilders Europe ETF 10.6 9 31 7.3 -2.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 10.5 25 15 6.5 -2.8
RBIN Nationwide Risk-Based International Equity ETF 10.5 42 -2 6.5 -2.8
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 10.4 30 10 6.8 -2.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 10.4 45 -5 6.7 -2.7
FLEH Franklin FTSE Europe Hedged ETF 10.4 9 31 7.1 -2.2
IVLU iShares Edge MSCI Intl Value Factor ETF 10.3 30 10 11.5 +2.2
BKIE BNY Mellon International Equity ETF 10.3 4 36 7.5 -1.8
FLEE Franklin FTSE Europe ETF 10.3 9 31 7.0 -2.3
IDHQ Invesco S&P International Developed Quality ETF 10.3 29 11 5.1 -4.2
QCAN SPDR MSCI Canada Quality Mix ETF 10.3 14 26 7.1 -2.2
CIL VictoryShares International Volatility Weighted Index ETF 10.2 45 -5 6.8 -2.6
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 10.2 30 10 0.0 -9.3
ESGN Columbia Sustainable International Equity Income ETF 10.2 45 -5 10.8 +1.5
IGRO iShares International Dividend Growth ETF 10.1 22 18 8.1 -1.3
FNDF Schwab Fundamental International Large Co. Index ETF 10.1 25 15 8.9 -0.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 10.0 47 -7 12.7 +3.4
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 9.8 83 -43 5.4 -4.0
GSID Goldman Sachs MarketBeta International Equity ETF 9.8 20 20 7.4 -2.0
EFA iShares MSCI EAFE ETF 9.8 32 8 7.1 -2.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 9.7 14 26 7.0 -2.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 9.7 35 5 6.9 -2.4
MOTI VanEck Vectors Morningstar International Moat ETF 9.5 57 -17 8.5 -0.9
INFR Legg Mason Global Infrastructure ETF 9.5 40 0 6.3 -3.0
VGK Vanguard FTSE Europe ETF 9.4 8 32 7.4 -1.9
ISDX Invesco Strategic Developed ex-US ETF 9.4 23 17 7.6 -1.7
FEU SPDR Portfolio Europe ETF 9.4 9 31 7.4 -1.9
IEUR iShares Core MSCI Europe ETF 9.4 9 31 7.3 -2.1
JPEU JPMorgan Diversified Return Europe Equity ETF 9.4 37 3 7.0 -2.3
IQIN IQ 500 International ETF 9.4 25 15 9.0 -0.3
PID Invesco International Dividend Achievers ETF 9.4 54 -14 9.8 +0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 9.3 20 20 7.5 -1.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 9.2 20 20 7.1 -2.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 9.1 25 15 6.6 -2.7
JPIN JPMorgan Diversified Return International Equity ETF 9.1 37 3 8.1 -1.2
SCHF Schwab International Equity ETF 9.0 6 34 7.4 -1.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 8.9 39 1 6.7 -2.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 8.8 7 33 7.6 -1.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 8.6 29 11 12.3 +3.0
DEW WisdomTree Global High Dividend Fund 8.6 58 -18 9.4 +0.1
EUDV ProShares MSCI Europe Dividend Growers ETF 8.6 55 -15 5.7 -3.6
IEFA iShares Core MSCI EAFE ETF 8.5 7 33 7.4 -2.0
TPIF Timothy Plan International ETF 8.5 62 -22 6.4 -2.9
IDEV iShares Core MSCI International Developed Markets ETF 8.5 5 35 7.3 -2.0
JXI iShares Global Utilities ETF 8.3 46 -6 6.0 -3.4
QGBR SPDR MSCI UK StrategicFactors ETF 8.3 14 26 7.8 -1.6
EWU iShares MSCI United Kingdom ETF 8.2 50 -10 7.2 -2.1
FLCA Franklin FTSE Canada ETF 8.1 9 31 7.4 -2.0
VEA Vanguard FTSE Developed Markets ETF 8.0 5 35 7.5 -1.8

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:

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 12.7 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 9.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.59
 
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.