Nationwide Risk-Managed Income ETF
ALTAR
Score™		 4.9% info Recommen-
dation		 UNDERWEIGHT
2023E    2024E
P/E
ratio		 27.0x P/Sales
ratio		 4.1x
P/BV
ratio		 5.8x 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) $441
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 101
Wgt avg mkt cap (mns) $989,381
Large cap (>$10bn) 98.2%
Mid cap ($2-10bn) 0.4%
Small cap (<$2bn) 0.0%
Developed mkts 99.4%
Emerging mkts 0.6%

TOP TEN HOLDINGS
MICROSOFT CORP 13.2 %
APPLE INC 12.5 %
AMAZON.COM INC 6.7 %
NVIDIA CORP 5.6 %
ALPHABET INC. CLASS A 4.2 %
ALPHABET INC. CLASS C 4.1 %
META PLATFORMS INC 4.0 %
TESLA MOTORS INC 3.2 %
BROADCOM INC. 2.1 %
PEPSICO INC 1.9 %
Total 57.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.5 %
NETHERLANDS 0.8 %
BRITAIN 0.5 %
ARGENTINA 0.5 %
CHINA 0.4 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
9.2% -5.8% -- -- 0.6%

Market Correlations
versus... Beta R-squared
S&P500 0.55 51%
MSCI EAFE 0.45 32%
MSCI Emg. Mkts. 0.36 22%

Technical Indicators
Recent close $20.42
30d moving avg. $19.82
Annualized volatility 14.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 1.7%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 83
Turnover 0.4%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $69,783

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 35 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™: 4.9%


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
(%)
QRMI Global X NASDAQ 100 Risk Managed Income ETF 99.6 60 8 5.2 +0.3
QCLR Global X NASDAQ 100 Collar 95-110 ETF 99.6 60 8 4.9 +0.1
QYLD Global X NASDAQ 100 Covered Call ETF 99.6 60 8 5.1 +0.2
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 99.6 60 8 5.0 +0.1
QTR Global X NASDAQ 100 Tail Risk ETF 99.4 60 8 5.0 +0.2
QYLE Global X Nasdaq 100 ESG Covered Call ETF 86.4 60 8 5.4 +0.5
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 66.7 35 33 5.4 +0.5
FTQI First Trust Nasdaq BuyWrite Income ETF 57.4 85 -17 5.2 +0.3
XYLE Global X S&P 500 ESG Covered Call ETF 46.9 60 8 6.0 +1.2
EFIV SPDR S&P 500 ESG ETF 46.3 10 58 6.5 +1.7
STLG iShares Factors US Growth Style ETF 43.7 25 43 8.5 +3.6
PBP Invesco S&P 500 BuyWrite ETF 42.7 49 19 6.0 +1.1
XYLD Global X S&P 500 Covered Call ETF 42.4 60 8 5.9 +1.1
XRMI Global X S&P 500 Risk Managed Income ETF 42.1 60 8 6.0 +1.1
XYLG Global X S&P 500 Covered Call & Growth ETF 42.0 60 8 5.9 +1.1
XCLR Global X S&P 500 Collar 95-110 ETF 41.9 60 8 6.0 +1.2
XTR Global X S&P 500 Tail Risk ETF 41.8 60 8 6.1 +1.2
ACIO Aptus Collared Income Opportunity ETF 41.5 79 -11 5.9 +1.0
SFLR Innovator Equity Managed Floor ETF 40.1 89 -21 5.3 +0.5
TYLG Global X Information Technology Covered Call & Growth ETF 38.1 60 8 5.8 +0.9
MMLG First Trust Multi-Manager Large Growth ETF 35.6 85 -17 3.0 -1.8
FTHI First Trust High Income ETF 35.0 85 -17 6.9 +2.0
THNQ ROBO Global Artificial Intelligence ETF 20.2 68 0 2.4 -2.5
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF 18.2 87 -19 7.6 +2.7
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 18.2 58 10 6.0 +1.1
CCOR Core Alternative ETF 15.7 107 -39 6.0 +1.1
LCG Sterling Capital Focus Equity ETF 15.5 59 9 4.9 0.0
DJIA Global X Dow 30 Covered Call ETF 13.4 60 8 7.6 +2.7
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 10.1 55 13 7.7 +2.9
XVOL Acruence Active Hedge U.S. Equity ETF 9.8 83 -15 6.2 +1.3
HYLG Global X Health Care Covered Call & Growth ETF 5.3 60 8 8.5 +3.7
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 2.8 75 -7 6.3 +1.5
GRES IQ Global Resources ETF 1.5 30 38 9.4 +4.6
FYLG Global X Financials Covered Call & Growth ETF 1.0 60 8 7.6 +2.8
IDVO Amplify International Enhanced Dividend Income ETF 0.8 65 3 12.3 +7.4

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2018 2019 2020 2021 2022 2023E 2024E
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

Content on this tab for subscribers only

VALUATION METRICS
  2022 2023E 2024E
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 26.7 %
Divided by: Fwd. P/BV 4.8 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.39 CATEGORY
AVERAGE		 1.50
 
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.