Nationwide Risk-Managed Income ETF
ALTAR
Score™		 3.1% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 36.3x P/Sales
ratio		 5.4x
P/BV
ratio		 7.7x Div.
yield		 0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
NUSI is an actively-managed portfolio of stocks included in the Nasdaq-100 Index combined with an options collar. The fund seeks to generate current income with some downside protection.

FUND BASICS
Category US Equities
Fund Sponsor Nationwide Mutual Insurance
Website nationwidefinancial.com
Inception date Dec 19, 2019
Assets (mns) $189
Currency USD
Expense ratio 68 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 102
Wgt avg mkt cap (mns) $815,714
Large cap (>$10bn) 99.3%
Mid cap ($2-10bn) 0.3%
Small cap (<$2bn) 0.0%
Developed mkts 97.8%
Emerging mkts 2.2%

TOP TEN HOLDINGS
APPLE INC 12.8 %
MICROSOFT CORP 9.2 %
AMAZON.COM INC 8.9 %
TESLA MOTORS INC 5.4 %
FACEBOOK 3.6 %
ALPHABET INC. CLASS C 3.4 %
ALPHABET INC. CLASS A 3.1 %
NVIDIA CORP 2.8 %
PAYPAL HOLDINGS INC 2.4 %
NETFLIX INC 2.0 %
Total 53.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.5 %
CHINA 2.1 %
ARGENTINA 0.8 %
NETHERLANDS 0.7 %
BERMUDA 0.3 %
BRITAIN 0.3 %
ISRAEL 0.2 %




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.
15.1% -- -- -- 15.1%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $27.78
30d moving avg. $27.48
Annualized volatility 0.0%
Short interest (ETF) 9.2%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 108
Turnover 1.6%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $141,284

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Nationwide Risk-Managed Income ETF ETF based on the alternatives' overlap in portfolio holdings with NUSI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NUSI Expense: 68 bp ALTAR Score™: 3.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NUSI
Ticker Fund
Name		 Overlap1
vs NUSI
(%)		 Expense
ratio
(bp)		 Savings
vs NUSI
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs NUSI
(%)
QYLD Global X NASDAQ 100 Covered Call ETF 102.8 60 8 3.2 +0.1
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 102.5 60 8 3.1 +0.0
QQQ Invesco QQQ Trust 100.0 20 48 3.5 +0.4
QQQM Invesco NASDAQ 100 ETF 100.0 15 53 3.5 +0.4
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 72.5 21 47 2.9 -0.2
VOOG Vanguard S&P 500 Growth ETF 67.0 10 58 3.9 +0.8
MGK Vanguard Mega Cap Growth ETF 66.2 7 61 3.7 +0.6
IWY iShares Russell Top 200 Growth ETF 65.5 20 48 3.6 +0.5
IGM iShares Expanded Tech Sector ETF 65.3 46 22 3.3 +0.2
SPYG SPDR Portfolio S&P 500 Growth ETF 64.6 4 64 3.7 +0.6
IVW iShares S&P 500 Growth ETF 64.6 18 50 3.5 +0.4
SCHG Schwab U.S. Large-Cap Growth ETF 62.8 4 64 3.2 +0.1
ESGV Vanguard ESG U.S. Stock ETF 62.7 12 56 4.5 +1.4
TMFC Motley Fool 100 Index ETF 62.0 50 18 3.0 -0.1
IUSG iShares Core S&P US Growth ETF 61.7 4 64 3.7 +0.6
IETC iShares Evolved U.S. Technology ETF 61.7 18 50 3.4 +0.3
IWF iShares Russell 1000 Growth ETF 61.2 19 49 3.4 +0.3
VUG Vanguard Growth Index Fund 61.0 4 64 3.5 +0.4
VONG Vanguard Russell 1000 Growth Index Fund 58.7 8 60 3.5 +0.5
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 57.7 49 19 3.4 +0.3
IYW iShares U.S. Technology ETF 55.7 43 25 3.4 +0.3
HIPR Direxion High Growth ETF 54.5 40 28 3.8 +0.7
XLG Invesco S&P 500 Top 50 ETF 54.2 20 48 4.1 +1.0
XOUT GraniteShares XOUT U.S. Large Cap ETF 53.6 60 8 3.6 +0.5
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 52.6 59 9 4.0 +0.9
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 52.5 35 33 4.3 +1.2
SPMO Invesco S&P 500 Momentum ETF 52.4 13 55 3.8 +0.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 52.1 12 56 4.0 +0.9
SYG SPDR MFS Systematic Growth Equity ETF 51.2 60 8 3.4 +0.3
OEF iShares S&P 100 ETF 50.8 20 48 4.2 +1.1
FTEC Fidelity MSCI Information Technology Index ETF 48.8 8 60 3.9 +0.8
VGT Vanguard Information Technology Index Fund 48.7 10 58 3.9 +0.8
BKLC BNY Mellon US Large Cap Core Equity ETF 48.3 0 68 4.5 +1.4
IWL iShares Russell Top 200 ETF 47.6 15 53 4.4 +1.3
SPXN ProShares S&P 500 Ex-Financials ETF 47.3 27 41 4.4 +1.3
JKE iShares Morningstar Large-Cap Growth ETF 47.3 25 43 2.2 -0.9
MGC Vanguard Mega Cap Index Fund 47.2 7 61 4.6 +1.5
MTUM iShares MSCI USA Momentum Factor ETF 46.8 15 53 2.2 -0.9
XLK Technology Select Sector SPDR Fund 46.3 13 55 4.2 +1.1
IXN iShares Global Tech ETF 46.1 46 22 3.7 +0.7
SPQQ Siren Large Cap Blend Index ETF 46.0 20 48 4.2 +1.1
IQSU IQ Candriam ESG US Equity ETF 45.7 9 59 4.5 +1.4
EFIV SPDR S&P 500 ESG ETF 45.4 10 58 4.6 +1.5
SNPE Xtrackers S&P 500 ESG ETF 45.3 10 58 4.6 +1.5
SPXV ProShares S&P 500 Ex-Health Care ETF 45.2 27 41 4.3 +1.2
STLG iShares Factors US Growth Style ETF 44.6 25 43 3.9 +0.8
XVV iShares ESG Screened S&P 500 ETF 44.0 8 60 4.9 +1.8
PBP Invesco S&P 500 BuyWrite ETF 42.8 49 19 4.3 +1.2
VEGN US Vegan Climate ETF 42.5 60 8 3.9 +0.9
SPXE ProShares S&P 500 Ex-Energy ETF 42.3 27 41 4.6 +1.5
CATH Global X S&P 500 Catholic Values Custom ETF 42.2 29 39 4.6 +1.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 42.1 7 61 4.5 +1.4
DSI iShares MSCI KLD 400 Social ETF 41.9 25 43 4.6 +1.5
XYLG Global X S&P 500 Covered Call & Growth ETF 41.9 60 8 4.4 +1.3
ESG FlexShares STOXX US ESG Impact Index Fund 41.8 32 36 4.5 +1.4
SPY SPDR S&P 500 ETF Trust 41.4 9 59 4.7 +1.6
IVV iShares Core S&P 500 ETF 41.3 3 65 4.7 +1.7
SPLG SPDR Portfolio Large Cap ETF 41.3 3 65 4.7 +1.6
ESGU iShares MSCI USA ESG Optimized ETF 41.0 15 53 4.4 +1.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 41.0 20 48 4.8 +1.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 40.8 2 66 4.6 +1.5
VOO VANGUARD S&P 500 ETF 40.6 3 65 4.8 +1.7
TECB iShares US Tech Breakthrough Multisector ETF 40.6 40 28 3.5 +0.4
PBUS Invesco PureBeta MSCI USA ETF 40.4 4 64 4.6 +1.5
IOO iShares Global 100 ETF 40.4 40 28 4.2 +1.1
VV Vanguard Large-Cap Index Fund 40.3 4 64 4.6 +1.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 39.9 20 48 4.6 +1.5
QLC FlexShares US Quality Large Cap Index Fund 39.8 32 36 4.4 +1.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 39.5 9 59 4.8 +1.7
SYE SPDR MFS Systematic Core Equity ETF 39.1 60 8 4.8 +1.7
SFYF SoFi 50 ETF 39.1 29 39 0.8 -2.3
SCHX Schwab U.S. Large-Cap ETF 39.0 3 65 4.6 +1.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 38.7 15 53 5.8 +2.7
USXF iShares ESG Advanced MSCI USA ETF 38.4 10 58 4.5 +1.4
SFY SoFi Select 500 ETF 38.3 0 68 4.6 +1.5
XNTK SPDR NYSE Technology ETF 38.3 35 33 2.7 -0.4
PWB Invesco Dynamic Large Cap Growth ETF 38.1 56 12 2.1 -1.0
IWB iShares Russell 1000 ETF 37.8 15 53 4.5 +1.4
SCHK Schwab 1000 Index ETF 37.8 5 63 4.6 +1.5
SPTM SPDR Portfolio Total Stock Market ETF 37.7 3 65 4.8 +1.7
JCTR JPMorgan Carbon Transition U.S. Equity ETF 37.6 15 53 4.7 +1.6
IYY iShares Dow Jones U.S. ETF 37.5 20 48 4.4 +1.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 37.1 10 58 4.8 +1.7
SUSL iShares ESG MSCI USA Leaders ETF 37.0 10 58 4.8 +1.8
HLAL Wahed FTSE USA Shariah ETF 36.8 50 18 3.8 +0.7
LRGE ClearBridge Large Cap Growth ESG ETF 36.7 59 9 3.3 +0.2
VTHR Vanguard Russell 3000 Index Fund 36.7 10 58 4.4 +1.3
FDMO Fidelity Momentum Factor ETF 36.5 29 39 2.4 -0.7
SUSA iShares MSCI USA ESG Select ETF 36.2 25 43 4.2 +1.1
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 36.0 60 8 4.4 +1.4
JOYY Infusive Compounding Global Equities ETF 35.8 50 18 3.4 +0.3
ADME Aptus Drawdown Managed Equity ETF 35.8 79 -11 3.1 0.0
NULG Nuveen ESG Large-Cap Growth ETF 35.5 35 33 2.9 -0.2
IWV iShares Russell 3000 ETF 35.2 20 48 4.3 +1.2
SCHB Schwab U.S. Broad Market ETF 35.2 3 65 4.5 +1.4
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 35.1 19 49 5.3 +2.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 35.0 3 65 4.4 +1.3
RESP WisdomTree US ESG Fund of Benef Interest 34.7 28 40 5.1 +2.0
VONE Vanguard Russell 1000 ETF 34.6 8 60 4.6 +1.5

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 Risk-Managed Income 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 24.4 %
Divided by: Fwd. P/BV 6.5 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 3.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.39 CATEGORY
AVERAGE		 1.49
 
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.