MomentumShares U.S. Quantitative Momentum
ALTAR
Score™
2.6% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
38.7x P/Sales
ratio
5.3x
P/BV
ratio
7.7x Div.
yield
0.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The MomentumShares U.S. Quantitative Momentum ETF is an actively managed fund that uses a systematic process focused on momentum to select and weight US stocks.

FUND BASICS
Category US Equities
Fund Sponsor Alpha Architect
Website www.alphaarchitect.com
Inception date Dec 02, 2015
Assets (mns) $59
Currency USD
Expense ratio 49 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 51
Wgt avg mkt cap (mns) $38,435
Large cap (>$10bn) 49.3%
Mid cap ($2-10bn) 47.0%
Small cap (<$2bn) 3.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
VMWARE INC-CLASS A 2.7 %
INPHI CORP 2.5 %
CROWN HOLDINGS INC 2.5 %
BROADCOM INC. 2.4 %
KEYSIGHT TECHNOLOGIES INC 2.4 %
CABLE ONE INC 2.4 %
METTLER-TOLEDO INTERNATIONAL 2.3 %
NEW YORK TIMES CO -CL A 2.3 %
FEDERATED INVESTORS INC-CL B 2.3 %
MSCI INC-A 2.2 %
Total 23.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.8 %
BRITAIN 3.6 %
ISRAEL 1.9 %
BRAZIL 1.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
20.6% 6.9% -- -- 6.4%

Market Correlations
versus... Beta R-squared
S&P500 1.14 57%
MSCI EAFE 0.83 26%
MSCI Emg. Mkts. 0.58 20%

Technical Indicators
Recent close $31.08
30d moving avg. $30.17
Annualized volatility 18.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.8%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $9,456

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the MomentumShares U.S. Quantitative Momentum ETF based on the alternatives' overlap in portfolio holdings with QMOM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QMOM Expense: 49 bp ALTAR Score™: 2.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QMOM
Ticker Fund
Name
Overlap1
vs QMOM
(%)
Expense
ratio
(bp)
Savings
vs QMOM
(bp)
ALTAR
Score™
(%)
ALTAR
vs QMOM
(%)
MTUM iShares MSCI USA Momentum Factor 21.7 15 34 4.4 +1.8
FDMO Fidelity Momentum Factor 19.9 29 20 4.2 +1.6
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum 17.4 75 -26 3.7 +1.1
PWB Invesco Dynamic Large Cap Growth 16.5 55 -6 4.4 +1.8
BKCH AdvisorShares Sabretooth ETF 15.4 85 -36 0.0 -2.6
XITK SPDR FactSet Innovative Technology 14.3 45 4 2.7 +0.1
PSJ Invesco Dynamic Software 14.2 58 -9 3.3 +0.7
PMOM Principal Sustainable Momentum Index 13.8 29 20 5.9 +3.3
SPMO Invesco S&P 500 Momentum Portfolio 13.8 13 36 4.3 +1.7
VFMO Vanguard U.S. Momentum Factor 13.8 13 36 2.9 +0.3
JMOM JPMorgan U.S. Momentum Factor 13.2 12 37 4.3 +1.7
FNG AdvisorShares New Tech & Media ETF 13.1 86 -37 1.9 -0.7
PDP Invesco DWA Technical Leaders 12.5 62 -13 3.9 +1.3
FFTY Innovator IBD 50 Fund 12.0 80 -31 4.0 +1.4
PTF Invesco DWA Technology Momentum 11.8 60 -11 1.5 -1.1
JKH iShares Morningstar Mid Cap Growth 11.7 30 19 2.8 +0.2
FTC First Trust Large Cap Growth 11.5 61 -12 3.7 +1.1
PLAT WisdomTree Modern Tech Platforms 11.4 45 4 2.9 +0.3
OGIG O'Shares Global Internet Giants 11.4 48 1 1.5 -1.1
NUMG NuShares ESG Mid-Cap Growth 11.4 40 9 4.4 +1.8

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
MomentumShares U.S. Quantitative Momentum
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 20.5 %
Divided by: Fwd. P/BV 6.6 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 2.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.55
 
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.