PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
24.8x P/Sales
ratio
1.3x
P/BV
ratio
2.9x Div.
yield
2.2%


  • 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) $27
Currency USD
Expense ratio 29 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 806
Wgt avg mkt cap (mns) $195,982
Large cap (>$10bn) 83.4%
Mid cap ($2-10bn) 13.7%
Small cap (<$2bn) 3.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 3.1 %
WAL-MART STORES INC 2.1 %
PROCTER & GAMBLE CO/THE 2.1 %
VERIZON COMMUNICATIONS INC 1.6 %
HOME DEPOT INC 1.4 %
JOHNSON & JOHNSON 1.4 %
PEPSICO INC 1.4 %
COSTCO WHOLESALE CORP 1.3 %
TARGET CORP 1.3 %
INTL BUSINESS MACHINES CORP 1.3 %
Total 17.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.2 %
BRITAIN 0.7 %
IRELAND 0.7 %
BERMUDA 0.2 %
SWITZERLAND 0.2 %
CANADA 0.1 %
CAYMAN ISLANDS 0.0 %
SINGAPORE 0.0 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.1% 0.5% -- -- 6.3%

Market Correlations
versus... Beta R-squared
S&P500 0.98 97%
MSCI EAFE 1.00 85%
MSCI Emg. Mkts. 0.70 67%

Technical Indicators
Recent close $29.88
30d moving avg. $28.50
Annualized volatility 17.7%
Short interest (ETF) 0.2%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.5%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $192,705

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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: 29 bp ALTAR Score™: 5.8%


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
(%)
FNDB Schwab Fundamental U.S. Broad Market Index ETF 60.7 25 4 6.1 +0.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 60.4 25 4 6.1 +0.4
PRF Invesco FTSE RAFI US 1000 ETF 59.1 39 -10 6.5 +0.7
JHML John Hancock Multifactor Large Cap ETF 57.2 29 0 5.3 -0.5
IYY iShares Dow Jones U.S. ETF 56.3 20 9 4.9 -0.8
SCHK Schwab 1000 Index ETF 56.3 5 24 5.1 -0.7
SCHX Schwab U.S. Large-Cap ETF 55.9 3 26 5.1 -0.7
PBP Invesco S&P 500 BuyWrite ETF 55.8 49 -20 4.7 -1.1
VONE Vanguard Russell 1000 ETF 55.8 8 21 5.0 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 55.7 3 26 5.3 -0.5
IWB iShares Russell 1000 ETF 55.7 15 14 4.9 -0.9
SCHB Schwab U.S. Broad Market ETF 55.4 3 26 5.0 -0.8
PBUS Invesco PureBeta MSCI USA ETF 55.3 4 25 5.1 -0.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 55.2 3 26 5.0 -0.8
HSPX Global X S&P 500 Covered Call ETF 55.0 65 -36 4.6 -1.2
IWV iShares Russell 3000 ETF 55.0 20 9 4.8 -1.0
VTHR Vanguard Russell 3000 Index Fund 54.9 10 19 4.9 -0.9
EPS WisdomTree U.S. Earnings 500 Fund 54.8 8 21 6.2 +0.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 54.6 2 27 5.1 -0.7
IUS Invesco Strategic US ETF 54.6 19 10 6.3 +0.5
SPY SPDR S&P 500 ETF Trust 54.5 9 20 5.1 -0.7
SPLG SPDR Portfolio Large Cap ETF 54.5 3 26 5.2 -0.6
IVV iShares Core S&P 500 ETF 54.5 4 25 5.2 -0.6
VTI Vanguard Total Stock Market Index Fund 54.4 3 26 4.9 -0.9
VOO VANGUARD S&P 500 ETF 54.4 3 26 5.2 -0.6
DTD WisdomTree U.S.Total Dividend Fund 54.1 28 1 6.4 +0.6
VV Vanguard Large-Cap Index Fund 54.0 4 25 5.0 -0.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 53.9 7 22 5.0 -0.8
QUS SPDR MSCI USA StrategicFactors ETF 53.8 15 14 5.6 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 53.4 20 9 5.1 -0.7
SPXE ProShares S&P 500 Ex-Energy ETF 53.4 27 2 5.1 -0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 53.2 9 20 5.3 -0.5
AVUS Avantis U.S. Equity ETF 53.1 15 14 5.4 -0.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 52.9 30 -1 6.2 +0.5
SPXN ProShares S&P 500 Ex-Financials ETF 52.4 27 2 4.8 -1.0
VLU SPDR S&P 1500 Value Tilt ETF 52.3 12 17 7.0 +1.2
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 51.7 25 4 6.2 +0.4
ESGU iShares MSCI USA ESG Optimized ETF 51.0 15 14 4.9 -0.9
SFY SoFi Select 500 ETF 50.9 0 29 5.0 -0.8
ESGV Vanguard ESG U.S. Stock ETF 50.9 12 17 4.9 -0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 50.6 28 1 6.2 +0.4
DIVB iShares U.S. Dividend & Buyback ETF 50.5 25 4 6.3 +0.5
RWL Invesco S&P 500 Revenue ETF 50.2 39 -10 6.8 +1.1
MGC Vanguard Mega Cap Index Fund 49.9 7 22 5.0 -0.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 49.8 20 9 4.7 -1.0
SPXV ProShares S&P 500 Ex-Health Care ETF 49.6 27 2 4.8 -1.0
CATH Global X S&P 500 Catholic Values Custom ETF 49.6 29 0 5.0 -0.8
SPXT ProShares S&P 500 Ex-Technology ETF 49.5 27 2 5.4 -0.4
IWL iShares Russell Top 200 ETF 48.7 15 14 4.8 -1.0
FLQL Franklin LibertyQ U.S. Equity ETF 48.6 15 14 5.9 +0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 48.6 0 29 5.0 -0.8
IQSU IQ Candriam ESG US Equity ETF 47.7 9 20 4.9 -0.9
SNPE Xtrackers S&P 500 ESG ETF 47.6 11 18 4.9 -0.9
IUSV iShares Core S&P U.S. Value ETF 47.5 4 25 7.2 +1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 47.0 12 17 4.5 -1.3
JQUA JPMorgan U.S. Quality Factor ETF 46.8 12 17 5.2 -0.6
IWD iShares Russell 1000 Value ETF 46.3 19 10 6.7 +0.9
VONV Vanguard Russell 1000 Value Index Fund 46.2 8 21 6.8 +1.0
RAFE PIMCO RAFI ESG U.S. ETF 45.7 29 0 7.4 +1.6
SPYV SPDR Portfolio S&P 500 Value ETF 45.7 4 25 7.1 +1.3
IVE iShares S&P 500 Value ETF 45.7 18 11 7.0 +1.2
VOOV Vanguard S&P 500 Value ETF 45.3 15 14 7.0 +1.2
DGRO iShares Core Dividend Growth ETF 45.2 8 21 6.4 +0.6
ROUS Hartford Multifactor US Equity ETF 44.8 19 10 6.9 +1.2
TOK iShares MSCI Kokusai ETF 44.8 25 4 5.4 -0.4
KOKU Xtrackers MSCI Kokusai Equity ETF 44.5 9 20 5.5 -0.2
SCHV Schwab U.S. Large-Cap Value ETF 44.3 4 25 6.9 +1.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 44.2 19 10 5.8 0.0
ESG FlexShares STOXX US ESG Impact Index Fund 44.1 32 -3 4.9 -0.9
IUSG iShares Core S&P US Growth ETF 43.6 4 25 4.2 -1.6
DSI iShares MSCI KLD 400 Social ETF 43.6 25 4 5.0 -0.8
EXT WisdomTree U.S. Total Earnings Fund 42.8 28 1 5.0 -0.8
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 42.7 10 19 5.2 -0.6
SUSL iShares ESG MSCI USA Leaders ETF 42.7 10 19 5.2 -0.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 42.5 60 -31 4.0 -1.8
RNLC Large Cap US Equity Select ETF 42.4 60 -31 6.0 +0.2
URTH iShares MSCI World ETF 42.4 24 5 5.5 -0.3
RECS Columbia Research Enhanced Core ETF 42.2 15 14 5.4 -0.4
AFLG First Trust Active Factor Large Cap ETF 42.2 55 -26 5.3 -0.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 42.1 9 20 5.8 +0.0
USDY Pacific Global US Equity Income ETF 42.0 29 0 7.0 +1.2
OEF iShares S&P 100 ETF 41.7 20 9 4.6 -1.2
VOOG Vanguard S&P 500 Growth ETF 41.7 10 19 4.1 -1.7
SPYG SPDR Portfolio S&P 500 Growth ETF 41.7 4 25 4.2 -1.6
IVW iShares S&P 500 Growth ETF 41.6 18 11 4.1 -1.7
EQWL Invesco Russell Top 200 Equal Weight ETF 41.5 25 4 5.9 +0.1
RSP Invesco S&P 500 Equal Weight ETF 41.1 20 9 6.3 +0.6
VTV Vanguard Value Index Fund 41.0 4 25 7.1 +1.3
PFM Invesco Dividend Achievers ETF 40.9 54 -25 5.2 -0.6
EUSA iShares MSCI USA Equal Weighted ETF 40.0 15 14 6.0 +0.2
QWLD SPDR MSCI World StrategicFactors ETF 39.8 30 -1 6.0 +0.2
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 39.5 75 -46 4.0 -1.8
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 39.1 17 12 6.1 +0.3
SIZE iShares Edge MSCI USA Size Factor ETF 39.0 15 14 6.0 +0.2
SCIU Global X Scientific Beta US ETF 39.0 19 10 5.6 -0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 38.7 18 11 5.9 +0.2
ACWI iShares MSCI ACWI ETF 38.6 32 -3 5.7 -0.1
CFA VictoryShares US 500 Volatility Weighted Index ETF 38.4 35 -6 5.6 -0.2
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 38.4 35 -6 5.6 -0.2
IWF iShares Russell 1000 Growth ETF 38.2 19 10 3.6 -2.2

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 16.3 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.52
 
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.