O'shares FTSE Europe Quality Dividend ETF
ALTAR
Score™		 5.1% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 21.6x P/Sales
ratio		 2.2x
P/BV
ratio		 3.3x Div.
yield		 2.7%


  • 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) $21
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 50
Wgt avg mkt cap (mns) $110,707
Large cap (>$10bn) 96.3%
Mid cap ($2-10bn) 3.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ROCHE HOLDING AG-GENUSSCHEIN 4.6 %
NESTLE SA-REG 4.4 %
NOVO NORDISK A/S-B 3.7 %
ASML HOLDING NV 3.3 %
UNILEVER PLC 3.2 %
IBERDROLA SA 2.9 %
NOVARTIS AG-REG 2.9 %
SANOFI-AVENTIS 2.9 %
SAP AG 2.9 %
INVESTOR AB-B SHS 2.7 %
Total 33.3 %

TOP COUNTRY EXPOSURE
SWITZERLAND 22.9 %
BRITAIN 19.0 %
FRANCE 15.5 %
GERMANY 11.6 %
NETHERLANDS 7.5 %
DENMARK 6.4 %
SWEDEN 5.7 %
FINLAND 4.8 %
SPAIN 4.5 %
IRELAND 1.4 %

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.
0.3% 0.3% 5.1% -- 4.3%

Market Correlations
versus... Beta R-squared
S&P500 0.78 79%
MSCI EAFE 0.85 92%
MSCI Emg. Mkts. 0.65 68%

Technical Indicators
Recent close $25.29
30d moving avg. $24.97
Annualized volatility 16.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.4%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $9,965

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 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™: 5.1%


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
(%)
DFAI Dimensional International Core Equity Market ETF 53.7 18 30 6.4 +1.3
EUDG WisdomTree Europe Quality Dividend Growth Fund 45.7 58 -10 6.5 +1.4
RFEU First Trust Riverfront Dynamic Europe ETF 37.0 83 -35 5.6 +0.5
IEV iShares Europe ETF 34.9 59 -11 6.2 +1.1
BBEU JPMorgan BetaBuilders Europe ETF 33.4 9 39 6.6 +1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 33.2 45 3 6.0 +0.9
FLEE Franklin FTSE Europe ETF 32.1 9 39 6.4 +1.3
FLEH Franklin FTSE Europe Hedged ETF 31.9 9 39 6.5 +1.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 31.5 25 23 5.9 +0.8
IDHQ Invesco S&P International Developed Quality ETF 31.1 29 19 4.8 -0.4
DOL WisdomTree International LargeCap Dividend Fund 31.0 48 0 7.2 +2.1
FEZ SPDR EURO STOXX 50 ETF 29.9 29 19 6.1 +1.0
IEUR iShares Core MSCI Europe ETF 29.2 9 39 6.6 +1.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 29.2 30 18 5.2 +0.1
VGK Vanguard FTSE Europe ETF 28.5 8 40 6.7 +1.6
EUDV ProShares MSCI Europe Dividend Growers ETF 28.0 56 -8 4.9 -0.2
SPEU SPDR Portfolio Europe ETF 27.8 9 39 6.7 +1.6
HEDJ WisdomTree Europe Hedged Equity Fund 27.4 58 -10 6.0 +0.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 26.8 32 16 5.7 +0.6
EURZ Xtrackers Eurozone Equity ETF 26.2 9 39 6.5 +1.4
VIGI Vanguard International Dividend Appreciation ETF 26.1 20 28 5.0 -0.1
EZU iShares MSCI Eurozone ETF 26.0 51 -3 6.0 +0.9
EFG iShares MSCI EAFE Growth ETF 25.9 40 8 4.1 -1.1
IQDG WisdomTree International Quality Dividend Growth Fund 24.9 42 6 6.0 +0.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 24.8 58 -10 5.8 +0.7
IGRO iShares International Dividend Growth ETF 24.4 15 33 7.0 +1.9
QEFA SPDR MSCI EAFE Quality Mix ETF 24.2 30 18 6.0 +0.9
DWM WisdomTree International Equity Fund 24.0 48 0 7.2 +2.1
LVHI Legg Mason International Low Volatility High Dividend ETF 24.0 40 8 9.0 +3.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 23.8 45 3 6.0 +0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 23.4 40 8 7.2 +2.1
NUDM Nuveen ESG International Developed Markets Equity ETF 23.4 40 8 5.9 +0.8
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 22.7 80 -32 6.0 +0.9
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 22.6 20 28 6.4 +1.3
RFDI First Trust Riverfront Dynamic Developed International ETF 22.2 83 -35 5.1 +0.0
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 22.1 20 28 8.4 +3.3
EWL iShares MSCI Switzerland ETF 22.1 51 -3 4.8 -0.4
RESD WisdomTree International ESG Fund 21.7 30 18 6.5 +1.4
FLSW Franklin FTSE Switzerland ETF 21.5 9 39 5.2 +0.1
IQSI IQ Candriam ESG International Equity ETF 21.4 15 33 6.4 +1.3
ESGD iShares MSCI EAFE ESG Optimized ETF 21.1 20 28 6.2 +1.1
EFA iShares MSCI EAFE ETF 21.0 32 16 6.2 +1.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 20.9 14 34 6.1 +1.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 20.5 35 13 6.1 +1.0
GSID Goldman Sachs MarketBeta International Equity ETF 20.5 20 28 6.3 +1.2
EFAV iShares Edge MSCI Min Vol EAFE ETF 20.5 20 28 5.0 -0.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 20.5 20 28 9.4 +4.3
EFAD ProShares MSCI EAFE Dividend Growers ETF 20.0 51 -3 5.0 -0.1
BKIE BNY Mellon International Equity ETF 19.9 4 44 6.5 +1.4
IDMO Invesco S&P International Developed Momentum ETF 19.9 26 22 3.7 -1.4
PDEV Principal International Multi-Factor Core Index ETF 18.8 25 23 7.1 +2.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 18.8 58 -10 5.0 -0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 18.6 20 28 6.4 +1.3
FDEV Fidelity Targeted International Factor ETF 18.3 39 9 6.2 +1.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 18.2 7 41 6.5 +1.4
IEFA iShares Core MSCI EAFE ETF 17.8 7 41 6.5 +1.4
KXI iShares Global Consumer Staples ETF 17.6 46 2 5.4 +0.3
EWU iShares MSCI United Kingdom ETF 17.5 51 -3 6.5 +1.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 17.3 25 23 6.0 +0.9
JIG JPMorgan International Growth ETF 17.2 55 -7 2.4 -2.7
VWID Virtus WMC International Dividend ETF 17.2 49 -1 7.4 +2.3
ZGBR SPDR Solactive United Kingdom ETF 17.1 14 34 7.0 +1.9
FLGB Franklin FTSE United Kingdom ETF 17.0 9 39 6.9 +1.8
FIVA Fidelity International Value Factor ETF 17.0 39 9 8.7 +3.6
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 16.6 61 -13 4.5 -0.6
DTH WisdomTree International High Dividend Fund 16.5 58 -10 8.7 +3.6
SCHF Schwab International Equity ETF 16.4 6 42 6.5 +1.4
DSTX Distillate International Fundamental Stability & Value ETF 16.3 55 -7 5.9 +0.8
EFV iShares MSCI EAFE Value ETF 16.3 39 9 8.4 +3.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 16.2 30 18 4.1 -1.0
JHMD John Hancock Multifactor Developed International ETF 15.9 39 9 6.6 +1.5
IDEV iShares Core MSCI International Developed Markets ETF 15.7 5 43 6.5 +1.4
FLFR Franklin FTSE France ETF 15.5 9 39 6.2 +1.1
EWQ iShares MSCI France ETF 15.4 51 -3 5.8 +0.7
IQDF FlexShares International Quality Dividend Index Fund 15.0 47 1 7.9 +2.8
SPDW SPDR Portfolio Developed World ex-US ETF 14.6 4 44 6.2 +1.1
IXJ iShares Global Healthcare ETF 14.5 46 2 6.1 +1.0
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 14.4 35 13 5.9 +0.8
VEA Vanguard FTSE Developed Markets ETF 14.4 5 43 6.6 +1.5
IDLV Invesco S&P International Developed Low Volatility ETF 14.1 25 23 6.2 +1.1
CWI SPDR MSCI ACWI ex-US ETF 14.1 30 18 6.2 +1.1
RBIN Nationwide Risk-Based International Equity ETF 14.0 42 6 6.0 +0.9
RNDM First Trust Developed International Equity Select ETF 13.7 65 -17 5.7 +0.6
IDOG ALPS International Sector Dividend Dogs ETF 13.7 50 -2 8.2 +3.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 13.7 39 9 5.6 +0.5
DMXF iShares ESG Advanced MSCI EAFE ETF 13.4 12 36 6.2 +1.1
IQDE FlexShares International Quality Dividend Defensive Index ET 13.3 47 1 7.8 +2.7
DOO WisdomTree International Dividend ex-Financials Fund 13.0 58 -10 7.7 +2.6
GXF Global X FTSE Nordic Region ETF 13.0 56 -8 9.4 +4.3
ACWX iShares MSCI ACWI ex U.S. ETF 12.9 32 16 6.3 +1.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 12.7 40 8 6.1 +1.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 12.6 47 1 8.1 +3.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 12.4 16 32 6.0 +0.9
GDVD Principal Active Global Dividend Income ETF 12.4 58 -10 4.3 -0.8
VYMI Vanguard International High Dividend Yield ETF 12.3 27 21 9.0 +3.9
IOO iShares Global 100 ETF 12.3 40 8 4.2 -0.9
DWMF WisdomTree International Multifactor Fund 12.1 38 10 6.2 +1.1

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:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.4 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.61 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.