O'shares FTSE Europe Quality Dividend ETF
ALTAR
Score™		 6.6% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 19.3x P/Sales
ratio		 1.4x
P/BV
ratio		 1.8x Div.
yield		 4.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The O'Shares FTSE Europe Quality Dividend ETF tracks an index that selects and weights large- and midcap Europe stocks based on three 3 factors: high quality, low volatility, and high dividend yield.

FUND BASICS
Category International Equities
Fund Sponsor FQF Trust
Website oshares.com
Inception date Aug 18, 2015
Assets (mns) $18
Currency USD
Expense ratio 48 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Foreside Fund Services
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 203
Wgt avg mkt cap (mns) $88,502
Large cap (>$10bn) 84.1%
Mid cap ($2-10bn) 15.5%
Small cap (<$2bn) 0.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 5.1 %
NOVARTIS AG-REG 5.0 %
ROCHE HOLDING AG-GENUSSCHEIN 4.9 %
GLAXOSMITHKLINE PLC 3.8 %
ENEL SPA 2.5 %
NOVO NORDISK A/S-B 2.4 %
UNILEVER NV 2.3 %
TOTAL SA 2.3 %
ROYAL DUTCH SHELL PLC-A SHS 2.1 %
SIEMENS AG-REG 1.9 %
Total 32.3 %

TOP COUNTRY EXPOSURE
BRITAIN 29.3 %
SWITZERLAND 20.2 %
FRANCE 13.1 %
GERMANY 8.9 %
NETHERLANDS 5.5 %
ITALY 4.2 %
SWEDEN 3.5 %
SPAIN 3.3 %
DENMARK 3.2 %
FINLAND 3.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.2% -4.7% -- -- 2.1%

Market Correlations
versus... Beta R-squared
S&P500 0.74 77%
MSCI EAFE 0.86 92%
MSCI Emg. Mkts. 0.61 73%

Technical Indicators
Recent close $22.62
30d moving avg. $22.24
Annualized volatility 14.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.5%
Bid/Ask (% of price) 0.37%
ADV underlying (mns) $19,476

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the O'shares FTSE Europe Quality Dividend ETF ETF based on the alternatives' overlap in portfolio holdings with OEUR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: OEUR Expense: 48 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH OEUR
Ticker Fund
Name		 Overlap1
vs OEUR
(%)		 Expense
ratio
(bp)		 Savings
vs OEUR
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs OEUR
(%)
IEV iShares Europe ETF 45.1 59 -11 6.8 +0.2
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 43.9 30 18 6.8 +0.2
BBEU JPMorgan BetaBuilders Europe ETF 43.7 9 39 7.4 +0.7
FLEH Franklin FTSE Europe Hedged ETF 43.6 9 39 7.1 +0.5
FLEE Franklin FTSE Europe ETF 43.4 9 39 7.0 +0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 42.9 45 3 6.6 -0.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 40.4 25 23 6.6 -0.1
IEUR iShares Core MSCI Europe ETF 39.9 9 39 7.3 +0.7
RFEU First Trust Riverfront Dynamic Europe ETF 39.0 83 -35 5.4 -1.2
FEU SPDR Portfolio Europe ETF 38.3 9 39 7.4 +0.8
VGK Vanguard FTSE Europe ETF 38.2 8 40 7.5 +0.8
DOL WisdomTree International LargeCap Dividend Fund 37.3 48 0 8.6 +1.9
EUMV iShares Edge MSCI Min Vol Europe ETF 36.1 25 23 5.0 -1.6
JPEU JPMorgan Diversified Return Europe Equity ETF 34.2 37 11 7.0 +0.4
IDY Pacific Global International Equity Income ETF 33.6 39 9 8.1 +1.4
IDHQ Invesco S&P International Developed Quality ETF 33.4 29 19 5.1 -1.5
DTH WisdomTree DEFA Equity Income Fund 32.4 58 -10 9.7 +3.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 31.8 30 18 6.1 -0.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 31.7 35 13 8.5 +1.9
DWM WisdomTree International Equity Fund 31.4 48 0 8.3 +1.7
EURZ Xtrackers Eurozone Equity ETF 31.1 9 39 7.1 +0.5
EFV iShares MSCI EAFE Value ETF 30.5 39 9 9.6 +2.9
EZU iShares MSCI Eurozone ETF 30.5 49 -1 6.6 +0.0
QEFA SPDR MSCI EAFE Quality Mix ETF 30.2 30 18 6.9 +0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 29.8 14 34 7.0 +0.3
SCID Global X Scientific Beta Europe ETF 29.7 39 9 6.5 -0.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 29.7 58 -10 6.1 -0.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 29.4 45 3 6.8 +0.1
IQSI IQ Candriam ESG International Equity ETF 28.0 15 33 7.3 +0.7
FLGB Franklin FTSE United Kingdom ETF 28.0 9 39 7.6 +1.0
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 28.0 30 18 0.0 -6.6
DOO WisdomTree International Dividend ex-Financials Fund 27.9 58 -10 8.8 +2.2
ESGD iShares MSCI EAFE ESG Optimized ETF 27.6 20 28 7.0 +0.3
RFDI First Trust Riverfront Dynamic Developed International ETF 27.5 83 -35 5.7 -0.9
JHMD John Hancock Multifactor Developed International ETF 27.4 39 9 7.5 +0.9
EFA iShares MSCI EAFE ETF 27.4 32 16 7.1 +0.5
QGBR SPDR MSCI UK StrategicFactors ETF 27.2 14 34 7.6 +1.0
EWU iShares MSCI United Kingdom ETF 27.0 50 -2 7.1 +0.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 26.9 35 13 6.9 +0.3
GSID Goldman Sachs MarketBeta International Equity ETF 26.8 20 28 7.4 +0.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 26.5 45 3 9.0 +2.3
ISDX Invesco Strategic Developed ex-US ETF 26.1 23 25 7.6 +0.9
FNDF Schwab Fundamental International Large Co. Index ETF 26.1 25 23 8.9 +2.3
HFXI IQ 50 Percent Hedged FTSE International ETF 25.9 20 28 7.5 +0.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 25.9 32 16 6.4 -0.2
BKIE BNY Mellon International Equity ETF 25.7 4 44 7.5 +0.9
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 25.7 20 28 7.1 +0.5
PDEV Principal International Multi-Factor Core Index ETF 25.4 25 23 8.0 +1.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 25.3 7 41 7.6 +1.0
IDMO Invesco S&P International Developed Momentum ETF 24.7 26 22 4.6 -2.1
FIVA Fidelity International Value Factor ETF 24.7 39 9 10.1 +3.4
IQIN IQ 500 International ETF 24.6 25 23 9.0 +2.4
IEFA iShares Core MSCI EAFE ETF 24.2 7 41 7.4 +0.7
EFG iShares MSCI EAFE Growth ETF 24.2 40 8 4.6 -2.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 24.0 25 23 6.7 +0.0
FDEV Fidelity Targeted International Factor ETF 23.8 39 9 6.5 -0.1
VYMI Vanguard International High Dividend Yield ETF 23.6 32 16 10.3 +3.6
SCHF Schwab International Equity ETF 23.4 6 42 7.4 +0.8
EFAV iShares Edge MSCI Min Vol EAFE ETF 23.3 20 28 5.5 -1.1
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 22.9 24 24 7.3 +0.7
DDEZ WisdomTree Europe Multifactor Fund 22.8 43 5 7.1 +0.5
IDEV iShares Core MSCI International Developed Markets ETF 22.5 5 43 7.3 +0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 22.5 39 9 6.7 +0.1
IQDF FlexShares International Quality Dividend Index Fund 22.3 47 1 12.4 +5.8
IGRO iShares International Dividend Growth ETF 22.2 22 26 8.1 +1.5
FEZ SPDR EURO STOXX 50 ETF 22.0 29 19 7.1 +0.5
SPDW SPDR Portfolio Developed World ex-US ETF 21.1 4 44 7.2 +0.6
IQDE FlexShares International Quality Dividend Defensive Index Fd 20.9 47 1 12.4 +5.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 20.5 20 28 9.5 +2.8
VEA Vanguard FTSE Developed Markets ETF 20.5 5 43 7.5 +0.9
FLSW Franklin FTSE Switzerland ETF 20.2 9 39 5.6 -1.0
IQDG WisdomTree International Quality Dividend Growth Fund 20.2 38 10 6.4 -0.2
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 20.2 58 -10 6.3 -0.3
VIGI Vanguard International Dividend Appreciation ETF 20.2 25 23 5.6 -1.0
NUDM Nuveen ESG International Developed Markets Equity ETF 19.9 40 8 7.0 +0.3
JPIN JPMorgan Diversified Return International Equity ETF 19.7 37 11 8.1 +1.4
EWL iShares MSCI Switzerland ETF 19.7 50 -2 5.1 -1.5
RBIN Nationwide Risk-Based International Equity ETF 19.6 42 6 6.5 -0.1
RNDM Developed International Equity Select ETF 19.6 65 -17 6.5 -0.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 19.5 29 19 8.8 +2.1
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 19.3 35 13 6.9 +0.3
QINT American Century Quality Diversified International ETF 19.1 39 9 5.9 -0.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 18.9 16 32 7.0 +0.4
LVHI Legg Mason International Low Volatility High Dividend ETF 18.9 40 8 9.2 +2.6
CIL VictoryShares International Volatility Weighted Index ETF 18.8 45 3 6.8 +0.1
CWI SPDR MSCI ACWI ex-US ETF 18.7 30 18 7.3 +0.6
IVLU iShares Edge MSCI Intl Value Factor ETF 18.6 30 18 11.4 +4.8
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 18.6 20 28 11.1 +4.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 18.6 29 19 7.8 +1.1
IDV iShares International Select Dividend ETF 18.6 49 -1 10.1 +3.5
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 18.3 45 3 10.0 +3.4
IMTM iShares Edge MSCI Intl Momentum Factor ETF 17.9 30 18 4.4 -2.2
ACWX iShares MSCI ACWI ex U.S. ETF 17.7 32 16 7.4 +0.7
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 17.7 30 18 7.4 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 17.4 40 8 7.1 +0.5
DWMF WisdomTree International Multifactor Fund 17.4 38 10 6.8 +0.2
VEU Vanguard FTSE All-World ex-US Index Fund 17.2 8 40 7.7 +1.1
KXI iShares Global Consumer Staples ETF 17.1 46 2 5.4 -1.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 16.8 80 -32 5.9 -0.7

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:		 O'shares FTSE Europe Quality Dividend 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 12.8 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

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