FlexShares Developed Markets ex-US Quality Low Volatility Idx
ALTAR
Score™
5.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
20.0x P/Sales
ratio
1.5x
P/BV
ratio
2.0x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The FlexShares Developed Markets ex-US Quality Low Volatility Index ETF tracks a multi-factor selected index of large- and mid-cap equities from developed markets excluding the United States.

FUND BASICS
Category International Equities
Fund Sponsor Northern Trust
Website www.flexshares.com
Inception date Jul 15, 2019
Assets (mns) $69
Currency USD
Expense ratio 32 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 178
Wgt avg mkt cap (mns) $67,821
Large cap (>$10bn) 80.6%
Mid cap ($2-10bn) 19.4%
Small cap (<$2bn) 0.0%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
ROCHE HOLDING AG-GENUSSCHEIN 4.9 %
NESTLE SA-REG 4.8 %
NOVO NORDISK A/S-B 2.5 %
GLAXOSMITHKLINE PLC 1.9 %
COMMONWEALTH BANK OF AUSTRAL 1.6 %
AIR LIQUIDE SA 1.5 %
ROYAL BANK OF CANADA 1.4 %
BARRICK GOLD CORP 1.3 %
IBERDROLA SA 1.3 %
KDDI CORPORATION 1.2 %
Total 22.4 %

TOP COUNTRY EXPOSURE
JAPAN 26.3 %
SWITZERLAND 13.7 %
CANADA 9.4 %
BRITAIN 8.7 %
HONG KONG 6.6 %
FRANCE 5.8 %
GERMANY 4.4 %
AUSTRALIA 4.4 %
DENMARK 4.1 %
FINLAND 3.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.4% -- -- -- 4.2%

Market Correlations
versus... Beta R-squared
S&P500 0.68 93%
MSCI EAFE 0.72 98%
MSCI Emg. Mkts. 0.50 74%

Technical Indicators
Recent close $24.69
30d moving avg. $24.98
Annualized volatility 16.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.6%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $7,525

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the FlexShares Developed Markets ex-US Quality Low Volatility Idx ETF based on the alternatives' overlap in portfolio holdings with QLVD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QLVD Expense: 32 bp ALTAR Score™: 5.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QLVD
Ticker Fund
Name
Overlap1
vs QLVD
(%)
Expense
ratio
(bp)
Savings
vs QLVD
(bp)
ALTAR
Score™
(%)
ALTAR
vs QLVD
(%)
EFAV iShares Edge MSCI Min Vol EAFE ETF 40.3 20 12 5.4 -0.5
QEFA SPDR MSCI EAFE Quality Mix ETF 33.0 30 2 6.8 +0.9
MVIN Natixis Seeyond International Minimum Volatility ETF 30.7 56 -24 5.5 -0.4
IQDE FlexShares International Quality Dividend Defensive Index Fd 30.1 47 -15 9.2 +3.2
FDEV Fidelity Targeted International Factor ETF 30.0 39 -7 6.4 +0.4
VGFO Virtus WMC Global Factor Opportunities ETF 28.8 49 -17 8.0 +2.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 28.6 29 3 7.6 +1.7
IDHQ Invesco S&P International Developed Quality ETF 28.6 29 3 5.0 -1.0
IMTM iShares Edge MSCI Intl Momentum Factor ETF 28.4 30 2 4.3 -1.6
DOL WisdomTree International LargeCap Dividend Fund 28.4 48 -16 8.7 +2.8
IQLT iShares Edge MSCI Intl Quality Factor ETF 28.2 30 2 5.9 +0.0
RBIN Nationwide Risk-Based International Equity ETF 28.0 42 -10 6.0 +0.1
DWMF WisdomTree International Multifactor Fund 28.0 38 -6 6.2 +0.2
IDLV Invesco S&P International Developed Low Volatility ETF 27.0 25 7 6.6 +0.6
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 26.6 80 -48 6.5 +0.6
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 26.6 30 2 0.0 -5.9
OEUR O'shares FTSE Europe Quality Dividend ETF 26.6 48 -16 6.7 +0.8
BKIE BNY Mellon International Equity ETF 26.6 4 28 7.3 +1.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 26.5 25 7 6.6 +0.7
IDMO Invesco S&P International Developed Momentum ETF 26.2 26 6 4.5 -1.5
DWM WisdomTree International Equity Fund 25.0 48 -16 8.3 +2.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 24.9 45 -13 6.6 +0.7
CIL VictoryShares International Volatility Weighted Index ETF 24.8 45 -13 6.6 +0.7
EFG iShares MSCI EAFE Growth ETF 24.8 40 -8 4.4 -1.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 24.6 20 12 7.0 +1.0
ESGD iShares MSCI EAFE ESG Optimized ETF 24.3 20 12 6.9 +0.9
EFA iShares MSCI EAFE ETF 24.3 32 0 7.0 +1.0
GSID Goldman Sachs MarketBeta International Equity ETF 24.3 20 12 7.3 +1.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 24.3 35 -3 8.6 +2.7
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 24.2 25 7 6.4 +0.5
IEV iShares Europe ETF 24.1 59 -27 6.8 +0.9
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 24.0 30 2 0.0 -5.9
JHMD John Hancock Multifactor Developed International ETF 23.9 39 -7 7.3 +1.4
IQSI IQ Candriam ESG International Equity ETF 23.9 15 17 7.3 +1.4
BBEU JPMorgan BetaBuilders Europe ETF 23.6 9 23 7.4 +1.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 23.6 35 -3 6.8 +0.9
FLEE Franklin FTSE Europe ETF 23.5 9 23 7.0 +1.1
RNDM Developed International Equity Select ETF 23.4 65 -33 6.3 +0.3
SCHF Schwab International Equity ETF 23.4 6 26 7.3 +1.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 23.3 14 18 6.8 +0.9
HFXI IQ 50 Percent Hedged FTSE International ETF 23.2 20 12 7.4 +1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 23.1 45 -13 6.6 +0.7
JPMV iShares Edge MSCI Min Vol Japan ETF 23.1 30 2 6.2 +0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 23.0 39 -7 6.5 +0.6
PDEV Principal International Multi-Factor Core Index ETF 23.0 25 7 7.9 +2.0
TPIF Timothy Plan International ETF 22.7 62 -30 6.2 +0.3
FLEH Franklin FTSE Europe Hedged ETF 22.7 9 23 7.2 +1.3
IDY Pacific Global International Equity Income ETF 22.5 39 -7 8.0 +2.1
IDEV iShares Core MSCI International Developed Markets ETF 22.3 5 27 7.2 +1.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 22.3 7 25 7.4 +1.5
IEUR iShares Core MSCI Europe ETF 21.7 9 23 7.2 +1.3
IEFA iShares Core MSCI EAFE ETF 21.5 7 25 7.2 +1.3
SPDW SPDR Portfolio Developed World ex-US ETF 21.5 4 28 7.1 +1.1
RFEU First Trust Riverfront Dynamic Europe ETF 21.1 83 -51 5.9 -0.1
VGK Vanguard FTSE Europe ETF 21.1 8 24 7.4 +1.5
FEU SPDR Portfolio Europe ETF 21.1 9 23 7.3 +1.4
VEA Vanguard FTSE Developed Markets ETF 21.0 5 27 7.3 +1.4
RFDI First Trust Riverfront Dynamic Developed International ETF 20.9 83 -51 5.6 -0.3
CWI SPDR MSCI ACWI ex-US ETF 20.4 30 2 7.2 +1.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 20.3 45 -13 8.9 +3.0
JPIN JPMorgan Diversified Return International Equity ETF 20.2 37 -5 7.8 +1.9
IQDF FlexShares International Quality Dividend Index Fund 20.1 47 -15 9.0 +3.1
FIVA Fidelity International Value Factor ETF 20.0 39 -7 9.7 +3.8
INTF iShares Edge MSCI Multifactor Intl ETF 19.8 30 2 7.7 +1.8
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 19.6 35 -3 6.9 +1.0
LVHI Legg Mason International Low Volatility High Dividend ETF 19.5 40 -8 9.2 +3.3
ACWX iShares MSCI ACWI ex U.S. ETF 19.2 32 0 7.3 +1.3
FNDF Schwab Fundamental International Large Co. Index ETF 19.1 25 7 8.8 +2.8
ACWV iShares Edge MSCI Min Vol Global ETF 18.9 20 12 5.7 -0.2
NUDM Nuveen ESG International Developed Markets Equity ETF 18.8 40 -8 6.7 +0.8
LVIN Hartford Multifactor Low Volatility International Equity ETF 18.8 29 3 11.4 +5.5
IQIN IQ 500 International ETF 18.7 25 7 8.7 +2.7
IGRO iShares International Dividend Growth ETF 18.7 22 10 8.0 +2.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 18.6 40 -8 7.1 +1.1
EFV iShares MSCI EAFE Value ETF 18.6 39 -7 9.7 +3.8
VSGX Vanguard ESG International Stock ETF 18.5 17 15 7.1 +1.2
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 18.4 25 7 7.0 +1.0
SCID Global X Scientific Beta Europe ETF 18.3 39 -7 6.5 +0.6
VIGI Vanguard International Dividend Appreciation ETF 18.2 20 12 5.5 -0.4
VEU Vanguard FTSE All-World ex-US Index Fund 18.0 8 24 7.6 +1.6
IDLB Invesco FTSE International Low Beta Equal Weight ETF 17.7 45 -13 7.0 +1.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 17.7 58 -26 5.9 -0.0
EWJ iShares MSCI Japan ETF 17.2 49 -17 6.9 +0.9
DBJP Xtrackers MSCI Japan Hedged Equity ETF 17.1 45 -13 6.9 +1.0
IXUS ishares Core MSCI Total International Stock ETF 17.0 9 23 7.4 +1.4
SCIJ Global X Scientific Beta Japan ETF 16.9 40 -8 6.8 +0.9
VYMI Vanguard International High Dividend Yield ETF 16.9 27 5 10.3 +4.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 16.8 29 3 7.5 +1.6
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 16.8 20 12 9.7 +3.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 16.8 16 16 6.9 +1.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 16.8 24 8 6.9 +1.0
QINT American Century Quality Diversified International ETF 16.8 39 -7 6.0 +0.1
ISDX Invesco Strategic Developed ex-US ETF 16.6 23 9 7.4 +1.4
QJPN SPDR MSCI Japan StrategicFactors ETF 16.6 14 18 7.3 +1.4
BBJP JPMorgan BetaBuilders Japan ETF 16.5 19 13 7.2 +1.2
DTH WisdomTree DEFA Equity Income Fund 16.3 58 -26 9.9 +4.0
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 16.2 30 2 0.0 -5.9
VXUS Vanguard Total International Stock Index Fund 16.2 8 24 7.5 +1.6
IPAC iShares Core MSCI Pacific ETF 16.2 9 23 7.0 +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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Developed Markets ex-US Quality Low Volatility Idx
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 12.0 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 CATEGORY
AVERAGE
1.57
 
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.