Natixis Seeyond International Minimum Volatility
ALTAR
Score™
6.0% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
17.2x P/Sales
ratio
1.1x
P/BV
ratio
1.7x Div.
yield
3.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Natixis Seeyond International Minimum Volatility ETF is an actively-managed fund which seeks long-term capital appreciation with lower volatility than typically experienced by international equity markets.

FUND BASICS
Category International Equities
Fund Sponsor Natixis
Website ngam.natixis.com
Inception date Oct 25, 2016
Assets (mns) $18
Currency USD
Expense ratio 55 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 113
Wgt avg mkt cap (mns) $32,985
Large cap (>$10bn) 60.9%
Mid cap ($2-10bn) 39.1%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ALSTOM 2.1 %
ROYAL AHOLD DELHAIZE N.V. 2.0 %
NICE SYSTEMS LTD 2.0 %
JAMES HARDIE INDUSTRIES-CDI 1.9 %
KERRY GROUP PLC-A 1.9 %
JAPAN AIRLINES CO LTD 1.8 %
BANK LEUMI LE-ISRAEL 1.8 %
SONIC HEALTHCARE LTD 1.7 %
UNILEVER NV 1.6 %
WEST JAPAN RAILWAY CO 1.5 %
Total 18.3 %

TOP COUNTRY EXPOSURE
JAPAN 28.8 %
CANADA 8.7 %
BRITAIN 8.1 %
FRANCE 6.9 %
ISRAEL 6.8 %
AUSTRALIA 5.5 %
SWITZERLAND 5.2 %
SINGAPORE 5.1 %
NETHERLANDS 4.2 %
IRELAND 3.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
17.1% 11.9% -- -- 8.7%

Market Correlations
versus... Beta R-squared
S&P500 0.52 58%
MSCI EAFE 0.65 76%
MSCI Emg. Mkts. 0.50 71%

Technical Indicators
Recent close $45.44
30d moving avg. $45.12
Annualized volatility 8.2%
Short interest (ETF) 0.3%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.5%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $7,457

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Natixis Seeyond International Minimum Volatility ETF based on the alternatives' overlap in portfolio holdings with MVIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MVIN Expense: 55 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MVIN
Ticker Fund
Name
Overlap1
vs MVIN
(%)
Expense
ratio
(bp)
Savings
vs MVIN
(bp)
ALTAR
Score™
(%)
ALTAR
vs MVIN
(%)
EFAV iShares MSCI EAFE Minimum Volatility 38.0 20 35 5.7 -0.3
QLVD FlexShares Developed Mkts ex-US Quality Low Volatility 29.2 32 23 6.6 +0.5
IDLV Invesco S&P Int'l Developed Low Volatility 29.0 25 30 6.3 +0.2
HDMV First Trust Horizon Managed Volatility Developed Int'l 28.2 80 -25 6.0 -0.0
DWMF WisdomTree International Multifactor Fund 24.9 38 17 6.3 +0.3
QEFA SPDR MSCI EAFE Quality Mix 24.7 30 25 6.5 +0.5
JPMV iShares MSCI Japan Min Volatility 24.0 30 25 6.6 +0.6
RBIN Nationwide Risk-Based International Equity 22.4 42 13 7.2 +1.2
EUMV iShares MSCI Europe Min Volatility 21.8 25 30 5.2 -0.9
UIVM USAA MSCI International Value Momentum Blend Index 19.1 35 20 8.1 +2.0
IDHD Invesco S&P Intl Developed High Div Low Volatility 19.0 30 25 6.3 +0.3
RODM Lattice Developed Markets (Ex-US) Strategy 18.8 29 26 7.6 +1.5
RNDM First Trust Developed International Equity Select 18.6 65 -10 6.3 +0.3
IMTM iShares MSCI Int'l Developed Momentum 18.1 30 25 5.2 -0.9
IQLT iShares MSCI Int'l Developed Quality 17.8 30 25 6.0 0.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity 17.6 39 16 6.1 +0.1
GSIE Goldman Sachs ActiveBeta Int'l Equity 17.0 25 30 6.5 +0.4
TPIF Timothy Plan International 17.0 62 -7 6.5 +0.5
DOL WisdomTree Int'l Large Cap Dividend 16.6 48 7 7.6 +1.6
SCIJ Global X Scientific Beta Japan 16.6 39 16 6.8 +0.7

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Natixis Seeyond International Minimum Volatility
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.5 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 CATEGORY
AVERAGE
1.63
 
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.