PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
ALTAR
Score™
5.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
27.3x P/Sales
ratio
1.5x
P/BV
ratio
3.6x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF is a smart beta strategy that seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund is designed to provide investors with the benefits of dynamically-weighted exposure to multiple equity factors, including value, quality, low volatility.

FUND BASICS
Category US Equities
Fund Sponsor PIMCO
Website www.pimcoetfs.com
Inception date Aug 31, 2017
Assets (mns) $71
Currency USD
Expense ratio 30 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 783
Wgt avg mkt cap (mns) $222,502
Large cap (>$10bn) 84.0%
Mid cap ($2-10bn) 14.2%
Small cap (<$2bn) 1.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 2.7 %
WAL-MART STORES INC 1.7 %
HOME DEPOT INC 1.4 %
JOHNSON & JOHNSON 1.2 %
ALPHABET INC. CLASS A 1.1 %
MICROSOFT CORP 1.1 %
WALT DISNEY CO/THE 1.1 %
AMAZON.COM INC 1.1 %
INTL BUSINESS MACHINES CORP 1.1 %
QUALCOMM INC 1.1 %
Total 13.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.0 %
IRELAND 0.8 %
BRITAIN 0.8 %
BERMUDA 0.3 %
SWITZERLAND 0.2 %
CANADA 0.1 %
CAYMAN ISLANDS 0.1 %
SINGAPORE 0.0 %



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.
10.5% 10.5% -- -- 10.9%

Market Correlations
versus... Beta R-squared
S&P500 0.98 97%
MSCI EAFE 0.93 86%
MSCI Emg. Mkts. 0.73 67%

Technical Indicators
Recent close $34.93
30d moving avg. $34.06
Annualized volatility 18.8%
Short interest (ETF) 0.3%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.2%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $235,831

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF ETF based on the alternatives' overlap in portfolio holdings with MFUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MFUS Expense: 30 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MFUS
Ticker Fund
Name
Overlap1
vs MFUS
(%)
Expense
ratio
(bp)
Savings
vs MFUS
(bp)
ALTAR
Score™
(%)
ALTAR
vs MFUS
(%)
ESGV Vanguard ESG U.S. Stock ETF 64.4 12 18 4.5 -0.6
JHML John Hancock Multifactor Large Cap ETF 58.8 29 1 4.8 -0.2
PRF Invesco FTSE RAFI US 1000 ETF 57.9 39 -9 5.8 +0.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 57.4 25 5 5.7 +0.6
VTHR Vanguard Russell 3000 Index Fund 57.0 10 20 4.4 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 56.9 25 5 5.7 +0.7
SCHK Schwab 1000 Index ETF 56.9 5 25 4.6 -0.5
SPTM SPDR Portfolio Total Stock Market ETF 56.7 3 27 4.8 -0.3
IYY iShares Dow Jones U.S. ETF 56.6 20 10 4.4 -0.6
IWB iShares Russell 1000 ETF 56.5 15 15 4.4 -0.6
PBP Invesco S&P 500 BuyWrite ETF 56.4 49 -19 4.3 -0.7
SCHX Schwab U.S. Large-Cap ETF 56.3 3 27 4.5 -0.5
DFAU Dimensional US Core Equity Market ETF 56.0 12 18 4.7 -0.4
XYLG Global X S&P 500 Covered Call & Growth ETF 55.8 60 -30 4.4 -0.7
SCHB Schwab U.S. Broad Market ETF 55.7 3 27 4.4 -0.6
IWV iShares Russell 3000 ETF 55.6 20 10 4.3 -0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 55.6 9 21 4.8 -0.3
PBUS Invesco PureBeta MSCI USA ETF 55.6 4 26 4.6 -0.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 55.5 3 27 4.4 -0.7
IUS Invesco Strategic US ETF 55.5 19 11 5.5 +0.4
SPY SPDR S&P 500 ETF Trust 55.4 9 21 4.7 -0.4
SPLG SPDR Portfolio Large Cap ETF 55.4 3 27 4.7 -0.3
IVV iShares Core S&P 500 ETF 55.4 3 27 4.7 -0.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 55.2 2 28 4.6 -0.4
VOO VANGUARD S&P 500 ETF 54.8 3 27 4.8 -0.3
VTI Vanguard Total Stock Market Index Fund 54.8 3 27 4.4 -0.6
VV Vanguard Large-Cap Index Fund 54.7 4 26 4.6 -0.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 54.5 20 10 4.8 -0.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 54.3 7 23 4.5 -0.5
SPXN ProShares S&P 500 Ex-Financials ETF 54.1 27 3 4.3 -0.7
SPXE ProShares S&P 500 Ex-Energy ETF 54.0 27 3 4.6 -0.4
AVUS Avantis U.S. Equity ETF 53.7 15 15 4.8 -0.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 53.6 30 0 5.2 +0.2
VONE Vanguard Russell 1000 ETF 53.6 8 22 4.5 -0.5
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 52.9 25 5 4.9 -0.2
EPS WisdomTree U.S. Earnings 500 Fund 52.9 8 22 5.9 +0.9
SFY SoFi Select 500 ETF 52.7 0 30 4.6 -0.5
JCTR JPMorgan Carbon Transition U.S. Equity ETF 52.6 15 15 4.6 -0.4
QUS SPDR MSCI USA StrategicFactors ETF 52.5 15 15 5.3 +0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 52.4 20 10 4.6 -0.5
XVV iShares ESG Screened S&P 500 ETF 52.2 8 22 4.9 -0.2
VLU SPDR S&P 1500 Value Tilt ETF 52.0 12 18 6.2 +1.1
ESGU iShares MSCI USA ESG Optimized ETF 51.7 15 15 4.4 -0.6
MMTM SPDR S&P 1500 Momentum Tilt ETF 51.0 12 18 4.0 -1.1
MGC Vanguard Mega Cap Index Fund 50.7 7 23 4.6 -0.5
RWL Invesco S&P 500 Revenue ETF 50.0 39 -9 6.3 +1.2
IQSU IQ Candriam ESG US Equity ETF 50.0 9 21 4.5 -0.6
SPXT ProShares S&P 500 Ex-Technology ETF 49.5 27 3 4.9 -0.2
IWL iShares Russell Top 200 ETF 49.4 15 15 4.4 -0.7
CATH Global X S&P 500 Catholic Values Custom ETF 49.4 29 1 4.6 -0.5
BKLC BNY Mellon US Large Cap Core Equity ETF 49.3 0 30 4.4 -0.6
SPXV ProShares S&P 500 Ex-Health Care ETF 49.3 27 3 4.3 -0.8
DTD WisdomTree U.S.Total Dividend Fund 48.2 28 2 6.2 +1.2
DIVB iShares U.S. Dividend & Buyback ETF 48.1 25 5 5.9 +0.9
VOOV Vanguard S&P 500 Value ETF 47.8 10 20 6.6 +1.6
ROUS Hartford Multifactor US Equity ETF 47.7 19 11 5.8 +0.8
SCHV Schwab U.S. Large-Cap Value ETF 47.6 4 26 6.1 +1.0
RESP WisdomTree US ESG Fund of Benef Interest 46.8 28 2 5.0 -0.0
XOUT GraniteShares XOUT U.S. Large Cap ETF 46.7 60 -30 3.6 -1.5
IUSV iShares Core S&P U.S. Value ETF 46.1 4 26 6.4 +1.4
SNPE Xtrackers S&P 500 ESG ETF 45.8 10 20 4.6 -0.5
EFIV SPDR S&P 500 ESG ETF 45.8 10 20 4.6 -0.5
IUSG iShares Core S&P US Growth ETF 45.5 4 26 3.6 -1.4
VONV Vanguard Russell 1000 Value Index Fund 45.5 8 22 6.2 +1.1
FLQL Franklin LibertyQ U.S. Equity ETF 45.5 15 15 5.9 +0.9
KOKU Xtrackers MSCI Kokusai Equity ETF 45.2 9 21 5.0 -0.0
TOK iShares MSCI Kokusai ETF 45.2 25 5 4.9 -0.2
AFLG First Trust Active Factor Large Cap ETF 45.1 55 -25 4.6 -0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 45.0 28 2 6.1 +1.1
VOOG Vanguard S&P 500 Growth ETF 44.7 10 20 3.9 -1.2
IWD iShares Russell 1000 Value ETF 44.4 19 11 6.0 +1.0
ESG FlexShares STOXX US ESG Impact Index Fund 44.4 32 -2 4.4 -0.6
SPYV SPDR Portfolio S&P 500 Value ETF 44.2 4 26 6.4 +1.4
IVE iShares S&P 500 Value ETF 44.2 18 12 6.3 +1.2
JQUA JPMorgan U.S. Quality Factor ETF 44.1 12 18 5.0 0.0
SPYG SPDR Portfolio S&P 500 Growth ETF 43.6 4 26 3.6 -1.4
IVW iShares S&P 500 Growth ETF 43.6 18 12 3.5 -1.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 43.2 9 21 5.0 -0.1
EQWL Invesco Russell Top 200 Equal Weight ETF 43.1 25 5 5.6 +0.6
RNLC Large Cap US Equity Select ETF 42.9 60 -30 5.2 +0.2
RSP Invesco S&P 500 Equal Weight ETF 42.6 20 10 5.6 +0.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 42.6 19 11 5.3 +0.2
URTH iShares MSCI World ETF 42.6 24 6 5.0 -0.1
DSI iShares MSCI KLD 400 Social ETF 41.8 25 5 4.5 -0.5
OEF iShares S&P 100 ETF 41.8 20 10 4.2 -0.9
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 41.4 15 15 5.8 +0.8
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 41.4 35 -5 5.1 +0.0
CFA VictoryShares US 500 Volatility Weighted Index ETF 41.2 35 -5 5.0 0.0
IWF iShares Russell 1000 Growth ETF 41.1 19 11 3.4 -1.6
EUSA iShares MSCI USA Equal Weighted ETF 41.1 15 15 5.1 +0.1
RECS Columbia Research Enhanced Core ETF 40.7 15 15 5.1 +0.0
VONG Vanguard Russell 1000 Growth Index Fund 40.4 8 22 3.5 -1.5
SIZE iShares MSCI USA Size Factor ETF 40.1 15 15 5.1 +0.1
SUSL iShares ESG MSCI USA Leaders ETF 39.5 10 20 4.8 -0.2
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 39.5 10 20 4.8 -0.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 39.2 17 13 5.6 +0.6
QWLD SPDR MSCI World StrategicFactors ETF 38.9 30 0 5.4 +0.3

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:
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.3 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.