Nationwide Nasdaq-100 Risk-Managed Income ETF
ALTAR
Score™		 4.0% info Recommen-
dation		 UNDERWEIGHT
2024E    2025E
P/E
ratio		 32.1x P/Sales
ratio		 4.6x
P/BV
ratio		 6.4x Div.
yield		 0.8%


  • 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) $379
Currency USD
Expense ratio 68 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives Yes
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 107
Wgt avg mkt cap (mns) $1,040,610
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 99.3%
Emerging mkts 0.7%

TOP TEN HOLDINGS
APPLE INC 9.0 %
NVIDIA CORP 7.8 %
MICROSOFT CORP 7.3 %
BROADCOM INC. 6.7 %
AMAZON.COM INC 5.1 %
META PLATFORMS INC 4.9 %
TESLA MOTORS INC 4.9 %
ALPHABET INC. CLASS A 2.6 %
ALPHABET INC. CLASS C 2.6 %
COSTCO WHOLESALE CORP 2.5 %
Total 53.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
BRITAIN 1.8 %
NETHERLANDS 0.7 %
ARGENTINA 0.6 %
CHINA 0.4 %
AUSTRALIA 0.3 %





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.
20.7% 25.7% -- -- 8.0%

Market Correlations
versus... Beta R-squared
S&P500 0.70 62%
MSCI EAFE 0.54 36%
MSCI Emg. Mkts. 0.45 25%

Technical Indicators
Recent close $26.33
30d moving avg. $26.19
Annualized volatility 15.6%
Short interest (ETF) 0.1%
Short interest (Underlying) 1.7%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 36
Turnover 0.3%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $141,096

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 35 potential alternatives to the Nationwide Nasdaq-100 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™: 4.0%


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
(%)
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 97.8 60 8 4.0 +0.0
QCLR Global X NASDAQ 100 Collar 95-110 ETF 96.2 25 43 4.4 +0.4
QYLD Global X NASDAQ 100 Covered Call ETF 95.7 60 8 4.1 +0.0
QRMI Global X NASDAQ 100 Risk Managed Income ETF 95.6 60 8 4.0 -0.0
QTR Global X NASDAQ 100 Tail Risk ETF 94.9 26 42 4.4 +0.4
QYLE Global X Nasdaq 100 ESG Covered Call ETF 86.3 60 8 4.2 +0.2
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 70.5 35 33 4.4 +0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 58.9 60 8 4.4 +0.4
XTR Global X S&P 500 Tail Risk ETF 58.8 26 42 5.0 +0.9
XCLR Global X S&P 500 Collar 95-110 ETF 57.9 25 43 5.0 +1.0
FTQI First Trust Nasdaq BuyWrite Income ETF 57.5 75 -7 3.4 -0.6
XYLD Global X S&P 500 Covered Call ETF 52.1 60 8 4.3 +0.3
XRMI Global X S&P 500 Risk Managed Income ETF 51.1 60 8 4.3 +0.3
GARP iShares MSCI USA Quality GARP ETF 50.8 15 53 4.8 +0.8
PBP Invesco S&P 500 BuyWrite ETF 50.7 49 19 4.5 +0.4
SFLR Innovator Equity Managed Floor ETF 48.3 89 -21 4.1 +0.0
ACIO Aptus Collared Investment Opportunity ETF 48.0 79 -11 4.1 +0.1
MMLG First Trust Multi-Manager Large Growth ETF 45.9 85 -17 1.9 -2.1
XYLE Global X S&P 500 ESG Covered Call ETF 45.5 60 8 4.7 +0.6
EFIV SPDR S&P 500 ESG ETF 43.9 10 58 5.1 +1.1
FTHI First Trust BuyWrite Income ETF 42.0 75 -7 4.8 +0.7
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 39.1 58 10 3.8 -0.2
TYLG Global X Information Technology Covered Call & Growth ETF 36.1 60 8 4.6 +0.5
THNQ ROBO Global Artificial Intelligence ETF 22.5 68 0 1.4 -2.6
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 20.0 82 -14 5.8 +1.8
DYLG Global X Dow 30 Covered Call & Growth ETF 19.7 60 8 4.8 +0.8
DJIA Global X Dow 30 Covered Call ETF 18.6 60 8 4.7 +0.7
LCG Sterling Capital Focus Equity ETF 13.5 59 9 3.7 -0.4
CCOR Core Alternative ETF 13.3 107 -39 4.8 +0.8
XVOL Acruence Active Hedge U.S. Equity ETF 13.2 83 -15 5.2 +1.2
DIVO Amplify CWP Enhanced Dividend Income ETF 10.2 55 13 5.5 +1.5
HYLG Global X Health Care Covered Call & Growth ETF 4.7 60 8 7.2 +3.2
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 4.3 75 -7 5.7 +1.7
IDVO Amplify International Enhanced Dividend Income ETF 0.6 65 3 7.3 +3.2
FYLG Global X Financials Covered Call & Growth ETF 0.5 60 8 4.9 +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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Nationwide Nasdaq-100 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 25.4 %
Divided by: Fwd. P/BV 5.4 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 4.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.58
 
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.