Nationwide Maximum Diversification US Core Equity ETF
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
26.9x P/Sales
ratio
2.2x
P/BV
ratio
3.5x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Nationwide Maximum Diversification US Core Equity ETF tracks a rules-basedan index of US companies that , deemed to meet basic SRI guidelines., thatThe fund seek to provideis optimized for low volatility and maximum diversification

FUND BASICS
Category US Equities
Fund Sponsor Nationwide Fund Advisors
Website nationwidefinancial.com
Inception date Sep 15, 2017
Assets (mns) $97
Currency USD
Expense ratio 34 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 452
Wgt avg mkt cap (mns) $110,311
Large cap (>$10bn) 90.2%
Mid cap ($2-10bn) 9.7%
Small cap (<$2bn) 0.0%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
DOCUSIGN, INC. 2.0 %
NEWMONT MINING CORP 1.7 %
SNAP, INC. CLASS A 1.7 %
CHIPOTLE MEXICAN GRILL-CL A 1.7 %
FACEBOOK 1.6 %
DEXCOM INC 1.5 %
CLOROX COMPANY 1.5 %
KROGER CO 1.4 %
JOHNSON & JOHNSON 1.3 %
MODERNA, INC. 1.3 %
Total 15.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.7 %
BRITAIN 1.6 %
IRELAND 1.3 %
CHINA 1.0 %
LUXEMBOURG 0.5 %
SWITZERLAND 0.2 %
ARGENTINA 0.2 %
BERMUDA 0.2 %
NETHERLANDS 0.1 %
ISRAEL 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.1% 17.6% -- -- 12.3%

Market Correlations
versus... Beta R-squared
S&P500 0.97 94%
MSCI EAFE 0.96 77%
MSCI Emg. Mkts. 0.68 62%

Technical Indicators
Recent close $32.76
30d moving avg. $33.13
Annualized volatility 17.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.4%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $20,095

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Nationwide Maximum Diversification US Core Equity ETF ETF based on the alternatives' overlap in portfolio holdings with MXDU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MXDU Expense: 34 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MXDU
Ticker Fund
Name
Overlap1
vs MXDU
(%)
Expense
ratio
(bp)
Savings
vs MXDU
(bp)
ALTAR
Score™
(%)
ALTAR
vs MXDU
(%)
PBUS Invesco PureBeta MSCI USA ETF 47.4 4 30 5.9 +0.9
SCHX Schwab U.S. Large-Cap ETF 47.2 3 31 5.8 +0.9
SCHK Schwab 1000 Index ETF 46.5 5 29 5.8 +0.9
IWB iShares Russell 1000 ETF 46.4 15 19 5.7 +0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 46.3 2 32 5.9 +0.9
IYY iShares Dow Jones U.S. ETF 46.0 20 14 5.7 +0.7
VONE Vanguard Russell 1000 ETF 46.0 8 26 5.7 +0.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 45.8 7 27 5.9 +0.9
VV Vanguard Large-Cap Index Fund 45.7 4 30 5.8 +0.8
VTHR Vanguard Russell 3000 Index Fund 45.1 10 24 5.6 +0.7
SCHB Schwab U.S. Broad Market ETF 44.6 3 31 5.7 +0.8
JHML John Hancock Multifactor Large Cap ETF 44.5 29 5 5.9 +0.9
ESGV Vanguard ESG U.S. Stock ETF 44.5 12 22 5.8 +0.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 44.3 3 31 5.7 +0.7
IWV iShares Russell 3000 ETF 44.3 20 14 5.5 +0.5
PBP Invesco S&P 500 BuyWrite ETF 44.2 49 -15 5.6 +0.6
SPTM SPDR Portfolio Total Stock Market ETF 44.2 3 31 6.1 +1.1
IVV iShares Core S&P 500 ETF 44.1 3 31 6.0 +1.1
SPY SPDR S&P 500 ETF Trust 44.1 9 25 6.0 +1.0
SPLG SPDR Portfolio Large Cap ETF 44.1 3 31 6.0 +1.1
HSPX Global X S&P 500 Covered Call ETF 44.0 60 -26 5.4 +0.5
VOO VANGUARD S&P 500 ETF 44.0 3 31 6.0 +1.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 43.4 20 14 6.0 +1.1
VTI Vanguard Total Stock Market Index Fund 43.0 3 31 5.6 +0.6
SPXE ProShares S&P 500 Ex-Energy ETF 42.7 27 7 6.0 +1.0
RBUS Nationwide Risk-Based U.S. Equity ETF 42.5 30 4 4.7 -0.3
DYNF BlackRock U.S. Equity Factor Rotation ETF 42.0 30 4 6.5 +1.6
SFY SoFi Select 500 ETF 41.6 0 34 5.6 +0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 41.4 9 25 6.1 +1.2
ESGU iShares MSCI USA ESG Optimized ETF 41.2 15 19 5.7 +0.8
SPXT ProShares S&P 500 Ex-Technology ETF 41.1 27 7 5.5 +0.5
PRF Invesco FTSE RAFI US 1000 ETF 39.5 39 -5 7.1 +2.1
SPXN ProShares S&P 500 Ex-Financials ETF 39.3 27 7 5.8 +0.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 38.5 9 25 5.9 +1.0
EPS WisdomTree U.S. Earnings 500 Fund 38.5 8 26 7.1 +2.1
EUSA iShares MSCI USA Equal Weighted ETF 38.5 15 19 6.1 +1.2
QUS SPDR MSCI USA StrategicFactors ETF 38.4 15 19 6.1 +1.2
SCIU Global X Scientific Beta US ETF 38.3 19 15 5.7 +0.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 38.0 25 9 7.2 +2.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 37.5 25 9 7.2 +2.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 37.4 20 14 5.6 +0.7
SIZE iShares Edge MSCI USA Size Factor ETF 37.4 15 19 6.1 +1.1
CATH Global X S&P 500 Catholic Values Custom ETF 37.2 29 5 5.8 +0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 37.1 25 9 6.7 +1.7
AVUS Avantis U.S. Equity ETF 36.6 15 19 6.1 +1.1
MGC Vanguard Mega Cap Index Fund 36.4 7 27 5.9 +0.9
KOKU Xtrackers MSCI Kokusai Equity ETF 36.3 9 25 6.1 +1.1
IUS Invesco Strategic US ETF 36.2 19 15 6.9 +2.0
TOK iShares MSCI Kokusai ETF 36.0 25 9 5.9 +0.9
IUSV iShares Core S&P U.S. Value ETF 35.9 4 30 7.3 +2.4
VOOV Vanguard S&P 500 Value ETF 35.8 10 24 7.2 +2.2
IVE iShares S&P 500 Value ETF 35.7 18 16 7.1 +2.2
SPYV SPDR Portfolio S&P 500 Value ETF 35.7 4 30 7.2 +2.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 35.5 29 5 6.2 +1.3
RSP Invesco S&P 500 Equal Weight ETF 35.3 20 14 6.4 +1.5
IQSU IQ Candriam ESG US Equity ETF 35.0 9 25 6.1 +1.2
IWL iShares Russell Top 200 ETF 34.5 15 19 5.8 +0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 34.4 12 22 6.2 +1.3
BKLC BNY Mellon US Large Cap Core Equity ETF 34.1 0 34 6.0 +1.0
RNLC Large Cap US Equity Select ETF 33.9 60 -26 6.1 +1.2
VLU SPDR S&P 1500 Value Tilt ETF 33.7 12 22 7.4 +2.5
EFIV SPDR S&P 500 ESG ETF 33.6 10 24 6.0 +1.0
SNPE Xtrackers S&P 500 ESG ETF 33.6 10 24 6.0 +1.0
URTH iShares MSCI World ETF 33.5 24 10 6.0 +1.0
SPXV ProShares S&P 500 Ex-Health Care ETF 33.4 27 7 5.7 +0.8
RWL Invesco S&P 500 Revenue ETF 33.4 39 -5 7.2 +2.3
IWD iShares Russell 1000 Value ETF 33.4 19 15 6.8 +1.8
VONV Vanguard Russell 1000 Value Index Fund 33.4 8 26 6.9 +1.9
FEX First Trust Large Cap Core AlphaDEX Fund 33.2 60 -26 6.0 +1.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 32.9 75 -41 4.2 -0.8
EXT WisdomTree U.S. Total Earnings Fund 32.9 28 6 6.1 +1.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 32.8 17 17 6.4 +1.5
ROUS Hartford Multifactor US Equity ETF 32.7 19 15 6.4 +1.5
FLQL Franklin LibertyQ U.S. Equity ETF 32.5 15 19 6.2 +1.3
DTD WisdomTree U.S.Total Dividend Fund 32.4 28 6 7.0 +2.1
AFLG First Trust Active Factor Large Cap ETF 32.2 55 -21 6.3 +1.3
DIVB iShares U.S. Dividend & Buyback ETF 31.8 25 9 7.0 +2.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 31.4 35 -1 5.4 +0.4
ESG FlexShares STOXX US ESG Impact Index Fund 31.3 32 2 5.6 +0.7
EQAL Invesco Russell 1000 Equal Weight ETF 31.1 20 14 5.5 +0.6
DLN WisdomTree U.S. LargeCap Dividend Fund 31.1 28 6 6.9 +1.9
CFA VictoryShares US 500 Volatility Weighted Index ETF 31.0 35 -1 5.7 +0.8
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 31.0 35 -1 5.7 +0.8
USMV iShares Edge MSCI Min Vol USA ETF 31.0 15 19 5.5 +0.5
ONEO SPDR Russell 1000 Momentum Focus ETF 30.8 20 14 6.4 +1.5
VTV Vanguard Value Index Fund 30.1 4 30 7.2 +2.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 29.9 20 14 6.4 +1.4
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 29.9 17 17 6.3 +1.4
ACWI iShares MSCI ACWI ETF 29.9 32 2 6.1 +1.2
IUSG iShares Core S&P US Growth ETF 29.9 4 30 5.8 +0.8
LOWC SPDR MSCI ACWI Low Carbon Target ETF 29.9 20 14 6.3 +1.4
JPUS JPMorgan Diversified Return U.S. Equity ETF 29.6 18 16 6.1 +1.2
VOOG Vanguard S&P 500 Growth ETF 29.6 10 24 5.8 +0.8
SPYG SPDR Portfolio S&P 500 Growth ETF 29.3 4 30 5.9 +0.9
IVW iShares S&P 500 Growth ETF 29.3 18 16 5.7 +0.8
QWLD SPDR MSCI World StrategicFactors ETF 29.1 30 4 6.3 +1.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 28.9 60 -26 5.4 +0.4
ALTL Pacer Lunt Large Cap Alternator ETF 28.6 60 -26 5.1 +0.2
SPLV Invesco S&P 500 Low Volatility ETF 28.6 25 9 5.5 +0.5
JMIN JPMorgan U.S. Minimum Volatility ETF 28.4 12 22 5.5 +0.5

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:
Nationwide Maximum Diversification US Core Equity ETF
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 16.9 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 34 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.