PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
ALTAR
Score™
6.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.9x P/Sales
ratio
1.3x
P/BV
ratio
2.7x Div.
yield
2.4%


  • 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) $26
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 840
Wgt avg mkt cap (mns) $156,700
Large cap (>$10bn) 83.3%
Mid cap ($2-10bn) 13.6%
Small cap (<$2bn) 3.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 2.7 %
PROCTER & GAMBLE CO/THE 2.1 %
VERIZON COMMUNICATIONS INC 2.1 %
WAL-MART STORES INC 2.0 %
INTL BUSINESS MACHINES CORP 1.7 %
JOHNSON & JOHNSON 1.7 %
WALT DISNEY CO/THE 1.6 %
COCA-COLA CO/THE 1.6 %
TARGET CORP 1.5 %
PEPSICO INC 1.5 %
Total 18.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
BRITAIN 1.3 %
IRELAND 0.9 %
SWITZERLAND 0.4 %
BERMUDA 0.2 %
CANADA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.1% 2.9% -- -- 4.6%

Market Correlations
versus... Beta R-squared
S&P500 0.99 97%
MSCI EAFE 1.01 86%
MSCI Emg. Mkts. 0.74 70%

Technical Indicators
Recent close $28.41
30d moving avg. $26.49
Annualized volatility 18.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 11
Turnover 1.2%
Bid/Ask (% of price) 0.43%
ADV underlying (mns) $217,616

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™: 6.1%


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 60.0 25 4 6.4 +0.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 59.5 25 4 6.4 +0.4
PRF Invesco FTSE RAFI US 1000 ETF 57.3 39 -10 6.6 +0.6
PBP Invesco S&P 500 BuyWrite ETF 56.3 49 -20 5.1 -1.0
JHML John Hancock Multifactor Large Cap ETF 56.0 34 -5 5.5 -0.6
IYY iShares Dow Jones U.S. ETF 55.7 20 9 5.2 -0.9
SCHK Schwab 1000 Index ETF 55.4 5 24 5.3 -0.7
IWB iShares Russell 1000 ETF 55.3 15 14 5.2 -0.8
HSPX Global X S&P 500 Covered Call ETF 55.2 65 -36 4.9 -1.1
SCHX Schwab U.S. Large-Cap ETF 55.0 3 26 5.4 -0.7
SPTM SPDR Portfolio Total Stock Market ETF 54.9 3 26 5.6 -0.5
VONE Vanguard Russell 1000 ETF 54.9 8 21 5.3 -0.7
VTI Vanguard Total Stock Market Index Fund 54.8 3 26 5.2 -0.9
PBUS Invesco PureBeta MSCI USA ETF 54.8 4 25 5.3 -0.7
SCHB Schwab U.S. Broad Market ETF 54.7 3 26 5.3 -0.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 54.6 3 26 5.2 -0.9
IWV iShares Russell 3000 ETF 54.5 20 9 5.1 -1.0
DTD WisdomTree U.S.Total Dividend Fund 54.4 28 1 6.5 +0.4
VTHR Vanguard Russell 3000 Index Fund 54.2 10 19 5.2 -0.9
IUS Invesco Strategic US ETF 54.2 19 10 6.2 +0.1
VV Vanguard Large-Cap Index Fund 54.0 4 25 5.3 -0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 53.8 2 27 5.4 -0.7
SPLG SPDR Portfolio Large Cap ETF 53.7 3 26 5.5 -0.6
IVV iShares Core S&P 500 ETF 53.6 4 25 5.5 -0.6
SPY SPDR S&P 500 ETF Trust 53.6 9 20 5.4 -0.7
VOO VANGUARD S&P 500 ETF 53.3 3 26 5.5 -0.6
QUS SPDR MSCI USA StrategicFactors ETF 53.3 15 14 5.8 -0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 52.8 20 9 5.5 -0.6
EPS WisdomTree U.S. Earnings 500 Fund 52.7 8 21 6.4 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 52.6 27 2 5.4 -0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 51.8 9 20 5.6 -0.5
AVUS Avantis U.S. Equity ETF 51.4 15 14 5.7 -0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 51.3 25 4 6.1 0.0
DLN WisdomTree U.S. LargeCap Dividend Fund 50.9 28 1 6.3 +0.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 50.8 30 -1 6.6 +0.6
SFY SoFi Select 500 ETF 50.2 0 29 5.3 -0.8
VLU SPDR S&P 1500 Value Tilt ETF 50.2 12 17 7.1 +1.1
SPXT ProShares S&P 500 Ex-Technology ETF 50.1 27 2 5.6 -0.5
RWL Invesco S&P 500 Revenue ETF 50.1 39 -10 6.7 +0.6
SPXV ProShares S&P 500 Ex-Health Care ETF 50.0 27 2 5.1 -0.9
ESGV Vanguard ESG U.S. Stock ETF 50.0 12 17 5.3 -0.8
SPXN ProShares S&P 500 Ex-Financials ETF 50.0 27 2 5.1 -1.0
MGC Vanguard Mega Cap Index Fund 49.4 7 22 5.3 -0.8
CATH Global X S&P 500 Catholic Values Custom ETF 49.2 29 0 5.3 -0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 49.0 12 17 5.1 -1.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 48.8 20 9 5.0 -1.1
IUSV iShares Core S&P U.S. Value ETF 48.3 4 25 7.2 +1.2
DIVB iShares U.S. Dividend & Buyback ETF 48.2 25 4 6.3 +0.3
RAFE PIMCO RAFI ESG U.S. ETF 47.2 29 0 7.5 +1.4
DGRO iShares Core Dividend Growth ETF 47.2 8 21 6.4 +0.3
IWL iShares Russell Top 200 ETF 46.8 15 14 5.1 -0.9
SNPE Xtrackers S&P 500 ESG ETF 46.8 11 18 5.2 -0.9
IWD iShares Russell 1000 Value ETF 46.7 19 10 6.9 +0.8
IQSU IQ Candriam ESG US Equity ETF 46.6 9 20 5.3 -0.8
IVE iShares S&P 500 Value ETF 46.4 18 11 7.0 +1.0
SPYV SPDR Portfolio S&P 500 Value ETF 46.4 4 25 7.2 +1.1
ESGU iShares MSCI USA ESG Optimized ETF 46.3 15 14 5.1 -0.9
VONV Vanguard Russell 1000 Value Index Fund 46.2 8 21 7.0 +0.9
SCHV Schwab U.S. Large-Cap Value ETF 46.1 4 25 6.9 +0.8
FLQL Franklin LibertyQ U.S. Equity ETF 46.1 15 14 6.2 +0.2
VOOV Vanguard S&P 500 Value ETF 45.9 15 14 7.1 +1.0
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 44.3 29 0 4.3 -1.7
JQUA JPMorgan U.S. Quality Factor ETF 43.8 12 17 5.2 -0.9
RECS Columbia Research Enhanced Core ETF 43.6 15 14 5.6 -0.4
TOK iShares MSCI Kokusai ETF 43.5 25 4 5.7 -0.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 43.4 19 10 5.6 -0.5
SUSL iShares ESG MSCI USA Leaders ETF 43.4 10 19 5.4 -0.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 43.3 10 19 5.4 -0.6
VTV Vanguard Value Index Fund 42.9 4 25 7.1 +1.1
DSI iShares MSCI KLD 400 Social ETF 42.8 25 4 5.2 -0.8
ROUS Hartford Multifactor US Equity ETF 42.7 19 10 7.1 +1.0
IUSG iShares Core S&P US Growth ETF 42.5 4 25 4.5 -1.6
PFM Invesco Dividend Achievers ETF 42.0 54 -25 5.3 -0.8
RNLC Large Cap US Equity Select ETF 41.5 60 -31 6.0 -0.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 41.5 9 20 5.8 -0.2
EUSA iShares MSCI USA Equal Weighted ETF 41.3 15 14 6.0 -0.1
USDY Pacific Global US Equity Income ETF 41.0 29 0 7.5 +1.4
URTH iShares MSCI World ETF 40.9 24 5 5.8 -0.3
ESG FlexShares STOXX US ESG Impact Index Fund 40.9 32 -3 5.2 -0.9
AFLG First Trust Active Factor Large Cap ETF 40.8 55 -26 5.6 -0.5
SIZE iShares Edge MSCI USA Size Factor ETF 40.8 15 14 5.8 -0.2
SPYG SPDR Portfolio S&P 500 Growth ETF 40.6 4 25 4.5 -1.6
IVW iShares S&P 500 Growth ETF 40.6 18 11 4.3 -1.7
VYM Vanguard High Dividend Yield Index ETF 40.6 6 23 7.1 +1.0
VOOG Vanguard S&P 500 Growth ETF 40.5 10 19 4.4 -1.6
RSP Invesco S&P 500 Equal Weight ETF 40.3 20 9 6.6 +0.6
QWLD SPDR MSCI World StrategicFactors ETF 40.2 30 -1 6.0 -0.0
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 40.0 17 12 6.4 +0.3
OEF iShares S&P 100 ETF 39.6 20 9 4.9 -1.2
EXT WisdomTree U.S. Total Earnings Fund 39.4 28 1 5.7 -0.3
USMV iShares Edge MSCI Min Vol USA ETF 39.3 15 14 5.7 -0.4
JPUS JPMorgan Diversified Return U.S. Equity ETF 38.7 19 10 6.1 +0.1
IWF iShares Russell 1000 Growth ETF 38.7 19 10 4.3 -1.7
VONG Vanguard Russell 1000 Growth Index Fund 38.7 8 21 4.4 -1.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 38.5 60 -31 4.6 -1.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 38.2 29 0 6.5 +0.4
ONEO SPDR Russell 1000 Momentum Focus ETF 37.9 20 9 6.4 +0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 37.8 35 -6 5.7 -0.3
EQWL Invesco Russell Top 200 Equal Weight ETF 37.8 25 4 5.9 -0.2
ACWI iShares MSCI ACWI ETF 37.7 32 -3 6.0 -0.0

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 16.6 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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