FlexShares Developed Markets ex-US Quality Low Volatility Idx
ALTAR
Score™
6.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.6x P/Sales
ratio
1.3x
P/BV
ratio
1.7x Div.
yield
3.2%


  • 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) $54
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 198
Wgt avg mkt cap (mns) $58,389
Large cap (>$10bn) 75.1%
Mid cap ($2-10bn) 24.6%
Small cap (<$2bn) 0.3%
Developed mkts 99.5%
Emerging mkts 0.5%

TOP TEN HOLDINGS
ROCHE HOLDING AG-GENUSSCHEIN 4.9 %
NESTLE SA-REG 3.8 %
GLAXOSMITHKLINE PLC 2.1 %
NOVO NORDISK A/S-B 2.1 %
COMMONWEALTH BANK OF AUSTRAL 1.5 %
ROYAL BANK OF CANADA 1.3 %
AIR LIQUIDE SA 1.3 %
RECKITT BENCKISER GROUP PLC 1.3 %
BARRICK GOLD CORP 1.3 %
COLOPLAST A/S CLASS B 1.1 %
Total 20.8 %

TOP COUNTRY EXPOSURE
JAPAN 23.6 %
SWITZERLAND 11.5 %
BRITAIN 10.9 %
CANADA 10.6 %
FRANCE 7.2 %
GERMANY 5.5 %
AUSTRALIA 5.4 %
DENMARK 4.1 %
HONG KONG 3.5 %
NETHERLANDS 3.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 01)
Year-to-date 1 year 5 years 10 years Since Incep.
-- -- -- -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $24.35
30d moving avg. $23.18
Annualized volatility 0.0%
Short interest (ETF) 2.3%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.8%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $16,953

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™: 6.5%


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 44.2 20 12 5.9 -0.6
QEFA SPDR MSCI EAFE Quality Mix ETF 34.6 30 2 6.8 +0.3
EUMV iShares Edge MSCI Min Vol Europe ETF 33.5 25 7 5.5 -1.0
MVIN Natixis Seeyond International Minimum Volatility ETF 33.3 55 -23 5.8 -0.7
IDLV Invesco S&P International Developed Low Volatility ETF 29.6 25 7 6.9 +0.4
IDMO Invesco S&P International Developed Momentum ETF 28.3 25 7 4.7 -1.8
FDEV Fidelity Targeted International Factor ETF 27.5 39 -7 6.5 0.0
DOL WisdomTree International LargeCap Dividend Fund 27.4 48 -16 8.5 +2.0
IQDE FlexShares International Quality Dividend Defensive Index Fd 27.3 47 -15 12.7 +6.2
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 27.2 48 -16 0.0 -6.5
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 26.6 80 -48 6.0 -0.5
OEUR O'shares FTSE Europe Quality Dividend ETF 26.5 48 -16 6.6 +0.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.2 29 3 8.6 +2.1
CIL VictoryShares International Volatility Weighted Index ETF 26.1 45 -13 6.7 +0.2
RBIN Nationwide Risk-Based International Equity ETF 25.9 42 -10 6.5 -0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 25.7 25 7 6.8 +0.3
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 25.5 25 7 6.7 +0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 25.4 14 18 7.0 +0.5
RNDM Developed International Equity Select ETF 25.3 65 -33 6.4 -0.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 24.9 30 2 6.2 -0.3
EFG iShares MSCI EAFE Growth ETF 24.9 40 -8 4.7 -1.8
IEV iShares Europe ETF 24.9 59 -27 6.8 +0.3
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 24.7 30 2 6.8 +0.3
IQSI IQ Candriam ESG International Equity ETF 24.7 15 17 7.3 +0.8
PDEV Principal International Multi-Factor Core Index ETF 24.6 25 7 7.9 +1.4
FLEE Franklin FTSE Europe ETF 24.6 9 23 7.0 +0.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 24.6 45 -13 6.8 +0.3
EFA iShares MSCI EAFE ETF 24.5 32 0 7.2 +0.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 24.4 35 -3 7.0 +0.5
BBEU JPMorgan BetaBuilders Europe ETF 24.4 9 23 7.3 +0.7
FLEH Franklin FTSE Europe Hedged ETF 24.3 9 23 7.2 +0.6
DWMF WisdomTree International Multifactor Fund 24.3 38 -6 6.8 +0.3
DWM WisdomTree International Equity Fund 24.3 48 -16 8.2 +1.7
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 24.2 20 12 7.3 +0.8
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 24.0 35 -3 8.6 +2.1
ESGD iShares MSCI EAFE ESG Optimized ETF 23.7 20 12 7.2 +0.7
SCHF Schwab International Equity ETF 23.5 6 26 7.4 +0.9
HFXI IQ 50 Percent Hedged FTSE International ETF 23.4 20 12 7.5 +1.0
IMTM iShares Edge MSCI Intl Momentum Factor ETF 23.4 30 2 5.0 -1.5
IDY Pacific Global International Equity Income ETF 23.0 39 -7 8.0 +1.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 22.8 39 -7 6.7 +0.2
JPMV iShares Edge MSCI Min Vol Japan ETF 22.8 30 2 6.9 +0.4
JHMD John Hancock Multifactor Developed International ETF 22.7 45 -13 7.4 +0.9
IEUR iShares Core MSCI Europe ETF 22.5 9 23 7.3 +0.8
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 22.4 7 25 7.6 +1.1
IDEV iShares Core MSCI International Developed Markets ETF 22.3 5 27 7.3 +0.8
SPDW SPDR Portfolio Developed World ex-US ETF 21.8 4 28 7.2 +0.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 21.7 45 -13 8.8 +2.3
RFDI First Trust Riverfront Dynamic Developed International ETF 21.6 83 -51 6.3 -0.2
IEFA iShares Core MSCI EAFE ETF 21.5 7 25 7.3 +0.8
FEU SPDR Portfolio Europe ETF 21.5 9 23 7.3 +0.7
FNDF Schwab Fundamental International Large Co. Index ETF 21.5 25 7 8.7 +2.2
VGK Vanguard FTSE Europe ETF 21.5 8 24 7.3 +0.8
TPIF Timothy Plan International ETF 21.3 62 -30 7.0 +0.5
IDHQ Invesco S&P International Developed High Quality ETF 20.9 29 3 5.4 -1.1
RFEU First Trust Riverfront Dynamic Europe ETF 20.9 83 -51 5.0 -1.5
ACWV iShares Edge MSCI Min Vol Global ETF 20.8 20 12 5.9 -0.6
CWI SPDR MSCI ACWI ex-US ETF 20.7 30 2 7.6 +1.1
VEA Vanguard FTSE Developed Markets ETF 20.7 5 27 7.4 +0.9
IQIN IQ 500 International ETF 20.6 25 7 9.0 +2.5
JPIN JPMorgan Diversified Return International Equity ETF 20.4 38 -6 8.0 +1.5
JPEU JPMorgan Diversified Return Europe Equity ETF 20.3 37 -5 6.8 +0.3
UIVM VictoryShares USAA MSCI International Value Momentum ETF 19.9 35 -3 8.6 +2.1
INTF iShares Edge MSCI Multifactor Intl ETF 19.6 30 2 8.3 +1.8
VIGI Vanguard International Dividend Appreciation ETF 19.5 25 7 5.9 -0.6
ISDX Invesco Strategic Developed ex-US ETF 19.4 23 9 7.4 +0.9
ACWX iShares MSCI ACWI ex U.S. ETF 19.2 32 0 7.5 +1.0
EFV iShares MSCI EAFE Value ETF 19.1 39 -7 10.0 +3.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 19.1 16 16 7.1 +0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 18.9 40 -8 7.4 +0.9
SCID Global X Scientific Beta Europe ETF 18.8 38 -6 6.9 +0.4
JPGE JPMorgan Diversified Return Global Equity ETF 18.3 29 3 7.3 +0.8
FIVA Fidelity International Value Factor ETF 18.3 39 -7 10.2 +3.7
IQDF FlexShares International Quality Dividend Index Fund 18.2 47 -15 12.9 +6.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 18.1 45 -13 7.2 +0.7
ISZE iShares Edge MSCI Intl Size Factor ETF 18.1 30 2 6.9 +0.4
IGRO iShares International Dividend Growth ETF 18.0 22 10 8.0 +1.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 17.8 24 8 7.2 +0.7
VSGX Vanguard ESG International Stock ETF 17.7 17 15 7.4 +0.9
VEU Vanguard FTSE All-World ex-US Index Fund 17.6 8 24 7.7 +1.2
QINT American Century Quality Diversified International ETF 17.2 39 -7 5.9 -0.6
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 17.0 30 2 7.4 +0.8
IXUS ishares Core MSCI Total International Stock ETF 16.9 9 23 7.6 +1.1
LVIN Hartford Multifactor Low Volatility International Equity ETF 16.7 29 3 12.2 +5.7
VYMI Vanguard International High Dividend Yield ETF 16.6 32 0 10.1 +3.6
EUDG WisdomTree Europe Quality Dividend Growth Fund 16.5 58 -26 6.1 -0.4
IPAC iShares Core MSCI Pacific ETF 16.3 9 23 7.5 +1.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 16.3 25 7 7.6 +1.1
VXUS Vanguard Total International Stock Index Fund 16.2 8 24 7.7 +1.2
DDEZ WisdomTree Europe Multifactor Fund 16.1 43 -11 7.2 +0.7
PQIN PGIM QMA Strategic Alpha International Equity ETF 16.0 29 3 8.1 +1.6
NUDM Nuveen ESG International Developed Markets Equity ETF 15.8 40 -8 6.9 +0.4
EWJ iShares MSCI Japan ETF 15.8 49 -17 7.4 +0.9
DTH WisdomTree DEFA Equity Income Fund 15.7 58 -26 9.6 +3.1
IVLU iShares Edge MSCI Intl Value Factor ETF 15.7 30 2 11.3 +4.8
SCIJ Global X Scientific Beta Japan ETF 15.6 39 -7 7.2 +0.7
DBJP Xtrackers MSCI Japan Hedged Equity ETF 15.6 45 -13 7.4 +0.9
BBJP JPMorgan BetaBuilders Japan ETF 15.4 19 13 7.7 +1.2
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 15.4 83 -51 7.1 +0.6

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 11.4 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.