FlexShares US Quality Large Cap Index Fund
ALTAR
Score™
4.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
24.5x P/Sales
ratio
2.5x
P/BV
ratio
3.6x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The FlexShares US Quality Large Cap Index Fund ETF tracks an index of the highest quality large-caps, as defined by Northern Trust's proprietary scoring model.

FUND BASICS
Category US Equities
Fund Sponsor Northern Trust
Website www.flexshares.com
Inception date Sep 23, 2015
Assets (mns) $92
Currency USD
Expense ratio 32 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 152
Wgt avg mkt cap (mns) $474,361
Large cap (>$10bn) 98.8%
Mid cap ($2-10bn) 1.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 8.1 %
MICROSOFT CORP 3.8 %
AMAZON.COM INC 3.0 %
JOHNSON & JOHNSON 2.4 %
FACEBOOK 2.2 %
VISA INC-CLASS A SHARES 2.0 %
ELI LILLY & CO 1.8 %
CITIGROUP INC 1.7 %
TEXAS INSTRUMENTS INC 1.7 %
PROCTER & GAMBLE CO/THE 1.7 %
Total 28.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
IRELAND 0.8 %
ISRAEL 0.5 %








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.
13.6% 13.6% 11.2% -- 12.0%

Market Correlations
versus... Beta R-squared
S&P500 1.02 97%
MSCI EAFE 0.96 86%
MSCI Emg. Mkts. 0.76 69%

Technical Indicators
Recent close $42.48
30d moving avg. $41.15
Annualized volatility 19.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.5%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $150,107

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the FlexShares US Quality Large Cap Index Fund ETF based on the alternatives' overlap in portfolio holdings with QLC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QLC Expense: 32 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QLC
Ticker Fund
Name
Overlap1
vs QLC
(%)
Expense
ratio
(bp)
Savings
vs QLC
(bp)
ALTAR
Score™
(%)
ALTAR
vs QLC
(%)
QDF FlexShares Quality Dividend Index Fund 51.2 37 -5 5.5 +1.0
ESGV Vanguard ESG U.S. Stock ETF 50.3 12 20 4.5 +0.0
IWL iShares Russell Top 200 ETF 48.2 15 17 4.4 -0.0
MGC Vanguard Mega Cap Index Fund 48.2 7 25 4.6 +0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 48.0 9 23 4.8 +0.4
PBP Invesco S&P 500 BuyWrite ETF 47.8 49 -17 4.3 -0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 47.7 0 32 4.4 +0.0
DIVB iShares U.S. Dividend & Buyback ETF 47.6 25 7 5.9 +1.5
XYLG Global X S&P 500 Covered Call & Growth ETF 47.3 60 -28 4.4 -0.0
OEF iShares S&P 100 ETF 47.2 20 12 4.2 -0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 47.0 20 12 4.8 +0.3
SPY SPDR S&P 500 ETF Trust 46.8 9 23 4.7 +0.3
SPLG SPDR Portfolio Large Cap ETF 46.8 3 29 4.7 +0.3
IVV iShares Core S&P 500 ETF 46.8 3 29 4.7 +0.3
EPS WisdomTree U.S. Earnings 500 Fund 46.7 8 24 5.9 +1.5
SPXE ProShares S&P 500 Ex-Energy ETF 46.6 27 5 4.6 +0.2
VOO VANGUARD S&P 500 ETF 46.2 3 29 4.8 +0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 46.2 7 25 4.5 +0.1
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 46.2 15 17 5.8 +1.4
JCTR JPMorgan Carbon Transition U.S. Equity ETF 45.8 15 17 4.6 +0.2
QDEF FlexShares Quality Dividend Defensive Index Fund 45.7 37 -5 5.4 +1.0
QDYN FlexShares Quality Dividend Dynamic Index Fund 45.7 37 -5 5.3 +0.9
PBUS Invesco PureBeta MSCI USA ETF 45.6 4 28 4.6 +0.2
RECS Columbia Research Enhanced Core ETF 45.5 15 17 5.1 +0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 45.5 2 30 4.6 +0.2
XVV iShares ESG Screened S&P 500 ETF 45.4 8 24 4.9 +0.4
VV Vanguard Large-Cap Index Fund 45.4 4 28 4.6 +0.2
AFLG First Trust Active Factor Large Cap ETF 45.1 55 -23 4.6 +0.2
SPXN ProShares S&P 500 Ex-Financials ETF 44.9 27 5 4.3 -0.1
SPXV ProShares S&P 500 Ex-Health Care ETF 44.7 27 5 4.3 -0.2
SCHX Schwab U.S. Large-Cap ETF 44.7 3 29 4.5 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 44.7 20 12 4.6 +0.2
ESGU iShares MSCI USA ESG Optimized ETF 44.5 15 17 4.4 -0.0
SNPE Xtrackers S&P 500 ESG ETF 44.3 10 22 4.6 +0.1
EFIV SPDR S&P 500 ESG ETF 44.3 10 22 4.6 +0.1
SPTM SPDR Portfolio Total Stock Market ETF 44.3 3 29 4.8 +0.4
FQAL Fidelity Quality Factor ETF 44.1 29 3 5.0 +0.6
IWB iShares Russell 1000 ETF 44.0 15 17 4.4 +0.0
SCHK Schwab 1000 Index ETF 43.8 5 27 4.6 +0.1
IYY iShares Dow Jones U.S. ETF 43.6 20 12 4.4 -0.0
CATH Global X S&P 500 Catholic Values Custom ETF 43.6 29 3 4.6 +0.1
IQSU IQ Candriam ESG US Equity ETF 43.4 9 23 4.5 +0.1
HIPR Direxion High Growth ETF 43.2 40 -8 3.8 -0.6
SPHQ Invesco S&P 500 Quality ETF 43.1 15 17 4.4 -0.1
VTHR Vanguard Russell 3000 Index Fund 43.1 10 22 4.4 -0.0
RESP WisdomTree US ESG Fund of Benef Interest 42.8 28 4 5.0 +0.6
QUS SPDR MSCI USA StrategicFactors ETF 42.7 15 17 5.3 +0.8
XOUT GraniteShares XOUT U.S. Large Cap ETF 42.6 60 -28 3.6 -0.9
SFY SoFi Select 500 ETF 42.5 0 32 4.6 +0.1
DFAU Dimensional US Core Equity Market ETF 42.1 12 20 4.7 +0.2
JQUA JPMorgan U.S. Quality Factor ETF 42.0 12 20 5.0 +0.6
IWV iShares Russell 3000 ETF 41.9 20 12 4.3 -0.2
SCHB Schwab U.S. Broad Market ETF 41.7 3 29 4.4 +0.0
FVAL Fidelity Value Factor ETF 41.5 29 3 6.8 +2.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 41.5 3 29 4.4 -0.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 41.4 12 20 4.0 -0.4
VOOG Vanguard S&P 500 Growth ETF 41.4 10 22 3.9 -0.6
VONE Vanguard Russell 1000 ETF 41.4 8 24 4.5 +0.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 41.1 49 -17 3.4 -1.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 41.0 19 13 5.3 +0.9
VTI Vanguard Total Stock Market Index Fund 40.6 3 29 4.4 -0.0
NACP Impact Shares NAACP Minority Empowerment ETF 40.5 49 -17 4.7 +0.3
XLG Invesco S&P 500 Top 50 ETF 40.4 20 12 4.0 -0.4
SPYG SPDR Portfolio S&P 500 Growth ETF 40.4 4 28 3.6 -0.8
IVW iShares S&P 500 Growth ETF 40.4 18 14 3.5 -0.9
KRMA Global X Conscious Companies ETF 40.4 43 -11 4.9 +0.5
IWF iShares Russell 1000 Growth ETF 40.2 19 13 3.4 -1.0
QYLD Global X NASDAQ 100 Covered Call ETF 40.0 60 -28 3.1 -1.3
JHML John Hancock Multifactor Large Cap ETF 40.0 29 3 4.8 +0.4
ESG FlexShares STOXX US ESG Impact Index Fund 40.0 32 0 4.4 +0.0
SYE SPDR MFS Systematic Core Equity ETF 39.8 60 -28 4.7 +0.3
NUSI Nationwide Risk-Managed Income ETF 39.8 68 -36 3.1 -1.3
IUSG iShares Core S&P US Growth ETF 39.7 4 28 3.6 -0.8
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 39.7 60 -28 3.1 -1.3
QUAL iShares MSCI Usa Quality Factor ETF 39.7 15 17 5.0 +0.6
VONG Vanguard Russell 1000 Growth Index Fund 39.6 8 24 3.5 -0.9
STLC iShares Factors US Blend Style ETF 39.5 25 7 4.8 +0.4
QQQ Invesco QQQ Trust 39.5 20 12 3.4 -1.0
QQQM Invesco NASDAQ 100 ETF 39.5 15 17 3.5 -0.9
IWY iShares Russell Top 200 Growth ETF 39.4 20 12 3.5 -0.9
EQWL Invesco Russell Top 200 Equal Weight ETF 38.9 25 7 5.6 +1.2
FDRR Fidelity Dividend ETF for Rising Rates 38.1 29 3 5.9 +1.5
DLN WisdomTree U.S. LargeCap Dividend Fund 38.1 28 4 6.1 +1.7
WOMN Impact Shares YWCA Women's Empowerment ETF 37.7 75 -43 3.5 -0.9
FLRG Fidelity U.S. Multifactor ETF 37.7 29 3 5.8 +1.4
SYG SPDR MFS Systematic Growth Equity ETF 37.2 60 -28 3.4 -1.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 37.2 25 7 5.7 +1.3
SPQQ Siren Large Cap Blend Index ETF 37.0 20 12 4.2 -0.2
AVUS Avantis U.S. Equity ETF 36.6 15 17 4.8 +0.4
FLQL Franklin LibertyQ U.S. Equity ETF 36.3 15 17 5.9 +1.5
IGM iShares Expanded Tech Sector ETF 36.2 46 -14 3.3 -1.2
QLV FlexShares US Quality Low Volatility Index Fund 36.2 22 10 4.3 -0.1
IUS Invesco Strategic US ETF 36.0 19 13 5.5 +1.1
SUSA iShares MSCI USA ESG Select ETF 36.0 25 7 4.2 -0.2
VUG Vanguard Growth Index Fund 36.0 4 28 3.5 -0.9
PRF Invesco FTSE RAFI US 1000 ETF 35.9 39 -7 5.8 +1.4
DTD WisdomTree U.S.Total Dividend Fund 35.9 28 4 6.2 +1.8
KOKU Xtrackers MSCI Kokusai Equity ETF 35.6 9 23 5.0 +0.6
TOK iShares MSCI Kokusai ETF 35.6 25 7 4.9 +0.5

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:
FlexShares US Quality Large Cap Index Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.3 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 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.