FlexShares STOXX Global Broad Infrastructure
ALTAR
Score™
6.2% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
17.5x P/Sales
ratio
1.8x
P/BV
ratio
2.1x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FlexShares STOXX Global Broad Infrastructure Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the STOXX Global Broad Infrastructure Index Fund.

FUND BASICS
Category Global Equities
Fund Sponsor FlexShares ETFs/USA
Website www.flexshares.com
Inception date Oct 08, 2013
Assets (mns) $1,763
Currency USD
Expense ratio 47 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 165
Wgt avg mkt cap (mns) $70,589
Large cap (>$10bn) 88.3%
Mid cap ($2-10bn) 11.2%
Small cap (<$2bn) 0.4%
Developed mkts 95.0%
Emerging mkts 5.0%

TOP TEN HOLDINGS
AT&T INC 4.6 %
VERIZON COMMUNICATIONS INC 4.1 %
CANADIAN NATL RAILWAY CO 3.9 %
COMCAST CORP-CL A 3.6 %
ENBRIDGE INC 3.1 %
ENEL SPA 2.5 %
IBERDROLA SA 2.3 %
CENTRAL JAPAN RAILWAY CO 2.3 %
UNION PACIFIC CORP 2.1 %
DEUTSCHE POST AG-REG 2.1 %
Total 30.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 39.8 %
CANADA 14.7 %
JAPAN 10.4 %
AUSTRALIA 4.9 %
BRITAIN 4.7 %
GERMANY 4.1 %
SPAIN 3.9 %
ITALY 3.6 %
HONG KONG 3.2 %
FRANCE 3.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
26.3% 26.3% 6.4% -- 7.1%

Market Correlations
versus... Beta R-squared
S&P500 0.60 60%
MSCI EAFE 0.69 65%
MSCI Emg. Mkts. 0.47 54%

Technical Indicators
Recent close $55.01
30d moving avg. $53.66
Annualized volatility 9.3%
Short interest (ETF) 0.9%
Relative strength (RSI) 77

Liquidity measures
Avg. volume (thou.) 124
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $13,192

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the FlexShares STOXX Global Broad Infrastructure ETF based on the alternatives' overlap in portfolio holdings with NFRA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NFRA Expense: 47 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NFRA
Ticker Fund
Name
Overlap1
vs NFRA
(%)
Expense
ratio
(bp)
Savings
vs NFRA
(bp)
ALTAR
Score™
(%)
ALTAR
vs NFRA
(%)
INFR Legg Mason Global Infrastructure 39.5 40 7 5.3 -0.9
IGF iShares S&P Global Infrastructure 33.7 46 1 4.5 -1.7
GII SPDR FTSE/Macquarie Global Infrastructure 33.7 40 7 4.6 -1.6
GLIF AGFiQ Global Infrastructure 27.1 45 2 4.9 -1.3
AMCA iShares Russell 1000 Pure U.S. Revenue 24.6 15 32 6.2 +0.0
JXI iShares S&P Global Utilities 24.2 46 1 5.0 -1.2
TOLZ ProShares Global Infrastructure 23.9 46 1 4.9 -1.3
IXP iShares S&P Global Comm. Services 23.3 46 1 5.9 -0.3
SPLV Invesco S&P 500 Low Volatility 17.7 25 22 5.0 -1.2
DHS WisdomTree Equity Income 17.0 38 9 7.7 +1.5
MTUM iShares MSCI USA Momentum Factor 16.8 15 32 4.2 -2.0
PFM Invesco Dividend Achievers 16.7 54 -7 5.2 -1.0
EMLP First Trust N. American Energy Infrastructure 16.1 95 -48 4.6 -1.6
DEW WisdomTree Global Equity Income 16.0 58 -11 8.1 +1.9
FXU First Trust Utilities Alphadex 15.3 63 -16 5.1 -1.1
DURA VanEck Vectors Morningstar Durable Dividend 15.3 29 18 6.5 +0.3
ACWV iShares MSCI World Minimum Volatility 15.1 20 27 5.4 -0.8
FCOM Fidelity MSCI Communication Services 14.7 8 39 4.9 -1.3
VOX Vanguard Communication Services 14.7 10 37 4.8 -1.4
QCAN SPDR MSCI Canada Quality Mix 14.7 14 33 7.0 +0.8

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:
FlexShares STOXX Global Broad Infrastructure
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.1 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.54
 
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.