VanEck Vectors Mortgage REIT Income ETF
ALTAR
Score™
27.4% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
4.4x P/Sales
ratio
2.4x
P/BV
ratio
0.5x Div.
yield
20.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Mortgage REIT Income ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to replicate, as closely as possible, before fees and expenses, the price and yield performance of the VanEck Vectors Mortgage REIT Index.

FUND BASICS
Category US Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Aug 17, 2011
Assets (mns) $97
Currency USD
Expense ratio 42 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 26
Wgt avg mkt cap (mns) $3,407
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 55.1%
Small cap (<$2bn) 44.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ANNALY CAPITAL MANAGEMENT IN 16.2 %
AGNC INVESTMENT CORP. 13.0 %
STARWOOD PROPERTY TRUST INC 7.2 %
NEW RESIDENTIAL INVESTMENT 5.6 %
CHIMERA INVESTMENT CORPORATION 5.4 %
CAPITAL TRUST-CL A 5.2 %
HANNON ARMSTRONG SUSTAINABLE 4.4 %
APOLLO COMMERCIAL REAL ESTAT 4.2 %
PENNYMAC MORTGAGE INVESTMENT 3.9 %
ARBOR REALTY TRUST INC 3.6 %
Total 68.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.5 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.6% 4.7% 7.1% -- 8.9%

Market Correlations
versus... Beta R-squared
S&P500 0.63 35%
MSCI EAFE 0.62 30%
MSCI Emg. Mkts. 0.39 17%

Technical Indicators
Recent close $10.70
30d moving avg. $19.11
Annualized volatility 14.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 26

Liquidity measures
Avg. volume (thou.) 79
Turnover 0.9%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $629

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the VanEck Vectors Mortgage REIT Income ETF ETF based on the alternatives' overlap in portfolio holdings with MORT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MORT Expense: 42 bp ALTAR Score™: 27.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MORT
Ticker Fund
Name
Overlap1
vs MORT
(%)
Expense
ratio
(bp)
Savings
vs MORT
(bp)
ALTAR
Score™
(%)
ALTAR
vs MORT
(%)
REM iShares Mortgage Real Estate ETF 83.8 48 -6 26.1 -1.4
SRET Global X SuperDividend REIT ETF 49.5 59 -17 22.2 -5.3
KBWD Invesco KBW High Dividend Yield Financial ETF 23.0 158 -116 20.3 -7.2
SDIV Global X SuperDividend ETF 15.7 58 -16 23.2 -4.3
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 14.5 30 12 15.1 -12.3
ROOF IQ US Real Estate Small Cap ETF 9.9 70 -28 13.3 -14.2
XSLV Invesco S&P SmallCap Low Volatility ETF 8.8 25 17 10.6 -16.9
DIV Global X SuperDividend US ETF 8.5 45 -3 14.3 -13.2
PSCF Invesco S&P SmallCap Financials ETF 5.1 29 13 13.9 -13.6
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 5.0 20 22 7.3 -20.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 4.1 12 30 9.6 -17.9
XSVM Invesco S&P SmallCap Value with Momentum ETF 3.9 39 3 14.3 -13.1
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 3.7 60 -18 8.9 -18.6
TAN Invesco Solar ETF 3.5 71 -29 3.2 -24.3
ACES ALPS Clean Energy ETF 3.4 65 -23 2.0 -25.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 3.3 24 18 10.0 -17.4
IYR iShares U.S. Real Estate ETF 3.2 42 0 7.5 -19.9
HOMZ Hoya Capital Housing ETF 2.9 45 -3 10.1 -17.3
VFMV Vanguard U.S. Minimum Volatility ETF 2.8 13 29 5.8 -21.6
JDIV JPMorgan U.S. Dividend ETF 2.8 12 30 10.2 -17.3
JKL iShares Morningstar Small Cap Value ETF 2.7 30 12 13.9 -13.6
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 2.7 60 -18 5.7 -21.7
PXSG Invesco S&P SmallCap Momentum ETF 2.7 39 3 6.9 -20.6
OSCV Opus Small Cap Value Plus ETF 2.7 79 -37 7.4 -20.0
PSC Principal U.S. Small Cap Index ETF 2.6 38 4 10.0 -17.5
LSLT Salt Low truBeta US Market ETF 2.3 0 42 8.1 -19.3
SLYV SPDR S&P 600 Small Cap Value ETF 2.1 15 27 11.5 -16.0
IJS iShares S&P Small-cap 600 Value ETF 2.1 25 17 11.3 -16.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 2.1 15 27 11.5 -16.0
LVUS Hartford Multifactor Low Volatility US Equity ETF 2.0 19 23 7.3 -20.2
LGLV SPDR Russell 1000 Low Volatility ETF 2.0 12 30 6.6 -20.8
JMIN JPMorgan U.S. Minimum Volatility ETF 1.9 12 30 6.8 -20.6
PFI Invesco DWA Financial Momentum ETF 1.9 60 -18 7.5 -20.0
IWN iShares Russell 2000 Value ETF 1.9 24 18 9.4 -18.0
FYC First Trust Small Cap Growth AlphaDEX Fund 1.9 70 -28 3.3 -24.1
VTWV Vanguard Russell 2000 Value Index Fund 1.9 15 27 9.6 -17.8
AUSF Global X Adaptive U.S. Factor ETF 1.8 27 15 9.7 -17.7
NUMV Nuveen ESG Mid-Cap Value ETF 1.8 40 2 10.8 -16.6
JKI iShares Morningstar Mid-Cap Value ETF 1.7 30 12 12.3 -15.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 1.6 29 13 7.9 -19.6
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 1.6 20 22 9.7 -17.7
VBR Vanguard Small Cap Value Index Fund 1.5 7 35 11.1 -16.3
USMV iShares Edge MSCI Min Vol USA ETF 1.4 15 27 6.5 -21.0
VFH Vanguard Financials Index Fund 1.4 10 32 10.8 -16.6
FDLO Fidelity Low Volatility Factor ETF 1.4 29 13 6.2 -21.2
ROGS Hartford Multifactor Global Small Cap ETF 1.4 34 8 11.0 -16.4
FNCL Fidelity MSCI Financials Index ETF 1.4 8 34 10.9 -16.6
RNSC Small Cap US Equity Select ETF 1.3 60 -18 8.9 -18.6
FDVV Fidelity Core Dividend ETF 1.3 29 13 9.3 -18.1
IJR iShares Core S&P Small Cap ETF 1.3 7 35 9.0 -18.4
SLY SPDR S&P 600 Small Cap ETF 1.3 15 27 8.9 -18.5
SPSM SPDR Portfolio Small Cap ETF 1.3 5 37 9.1 -18.4
VIOO Vanguard S&P Small-Cap 600 ETF 1.3 10 32 9.0 -18.5
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 1.3 40 2 8.4 -19.1
JVAL JPMorgan U.S. Value Factor ETF 1.3 12 30 11.3 -16.1
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 1.2 60 -18 2.3 -25.1
RNDV US Equity Dividend Select ETF 1.2 50 -8 9.9 -17.5
PZD Invesco Cleantech ETF 1.2 68 -26 6.2 -21.2
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 1.2 24 18 7.9 -19.5
RZG Invesco S&P Smallcap 600 Pure Growth ETF 1.2 35 7 9.1 -18.4
SFYX Sofi Next 500 ETF 1.1 0 42 7.6 -19.8
NUSC Nuveen ESG Small-Cap ETF 1.1 40 2 7.0 -20.5
YLCO Global X YieldCo Index ETF 1.1 65 -23 5.4 -22.0
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 1.1 39 3 8.0 -19.4
VXF Vanguard Extended Market Index Fund 1.1 7 35 5.5 -22.0
VOE Vanguard Mid-Cap Value Index Fund 1.1 7 35 10.0 -17.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 1.1 39 3 5.9 -21.5
SCHA Schwab U.S. Small-Cap ETF 1.1 4 38 6.9 -20.5
RNMC Mid Cap US Equity Select ETF 1.0 60 -18 9.4 -18.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 1.0 6 36 7.5 -20.0
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 0.9 29 13 10.9 -16.6
FCTR First Trust Lunt U.S. Factor Rotation ETF 0.9 65 -23 4.1 -23.4
SCHM Schwab U.S. Mid-Cap ETF 0.9 4 38 8.4 -19.0
PLCY EventShares U.S. Legislative Opportunities ETF 0.9 75 -33 5.2 -22.3
IWM iShares Russell 2000 ETF 0.9 19 23 5.2 -22.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 0.9 34 8 6.5 -21.0
FNK First Trust Mid Cap Value AlphaDEX Fund 0.9 70 -28 14.8 -12.6
FTHI First Trust High Income ETF 0.9 85 -43 7.5 -20.0
VTWO Vanguard Russell 2000 Index Fund 0.9 10 32 5.3 -22.1
NULV Nuveen ESG Large-Cap Value ETF 0.9 35 7 8.9 -18.6
JPUS JPMorgan Diversified Return U.S. Equity ETF 0.9 19 23 7.9 -19.5
FNDA Schwab Fundamental U.S. Small Co. Index ETF 0.8 25 17 9.1 -18.4
PBD Invesco Global Clean Energy ETF 0.8 75 -33 0.8 -26.6
IWS iShares Russell Mid-Cap Value ETF 0.8 24 18 9.3 -18.1
FSMD Fidelity Small-Mid Factor ETF 0.8 29 13 9.3 -18.2
VB Vanguard Small-Cap ETF 0.8 5 37 7.5 -19.9
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.8 20 22 8.2 -19.2
ACWV iShares Edge MSCI Min Vol Global ETF 0.8 20 22 6.5 -20.9
BOSS Global X Founder-Run Companies ETF 0.7 45 -3 4.4 -23.0
IYF iShares U.S. Financials ETF 0.7 42 0 8.6 -18.8
FTLB First Trust Hedged BuyWrite Income ETF 0.7 85 -43 7.5 -19.9
FNX First Trust Mid Cap Core AlphaDEX Fund 0.7 61 -19 9.5 -18.0
FXO First Trust Financials AlphaDEX Fund 0.7 63 -21 12.7 -14.8
CVY Invesco Zacks Multi-Asset Income ETF 0.7 97 -55 17.4 -10.0
ONEY SPDR Russell 1000 Yield Focus ETF 0.7 20 22 11.3 -16.1
WDIV SPDR Global Dividend ETF 0.7 40 2 12.3 -15.1
FYX First Trust Small Cap Core AlphaDEX Fund 0.6 63 -21 8.3 -19.1
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 0.6 25 17 8.2 -19.3
ROUS Hartford Multifactor US Equity ETF 0.6 19 23 8.7 -18.7
SLYG SPDR S&P 600 Small Cap Growth ETF 0.6 15 27 7.1 -20.4

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:
VanEck Vectors Mortgage REIT Income 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 12.8 %
Divided by: Fwd. P/BV 0.5 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 27.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.