Defiance Quantum
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
22.5x P/Sales
ratio
1.9x
P/BV
ratio
3.2x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Defiance Quantum ETF tracks an index of equity securities of leading global companies engaged in the research and development or commercialization of systems and materials used in quantum computing.

FUND BASICS
Category Global Equities
Fund Sponsor Defiance ETFs
Website www.defianceetfs.com
Inception date Sep 05, 2018
Assets (mns) $10
Currency USD
Expense ratio 40 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 78
Wgt avg mkt cap (mns) $100,638
Large cap (>$10bn) 63.1%
Mid cap ($2-10bn) 22.0%
Small cap (<$2bn) 14.9%
Developed mkts 90.9%
Emerging mkts 9.1%

TOP TEN HOLDINGS
MACDONALD DETTWILER & ASSOC 2.1 %
CLOUDERA, INC. 2.1 %
CIRRUS LOGIC INC 1.9 %
ULTRA CLEAN HOLDINGS 1.7 %
STMICROELECTRONICS NV 1.6 %
NVIDIA CORP 1.6 %
TOWER SEMICONDUCTOR LTD 1.6 %
KLA-TENCOR CORPORATION 1.6 %
LAM RESEARCH CORP 1.6 %
NEC ELECTRONICS CORP 1.5 %
Total 17.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 60.5 %
JAPAN 9.3 %
GERMANY 4.6 %
NETHERLANDS 3.9 %
SOUTH KOREA 3.8 %
TAIWAN 3.8 %
IRELAND 2.7 %
ISRAEL 2.7 %
FRANCE 2.3 %
SWITZERLAND 1.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
40.2% 28.9% -- -- 11.9%

Market Correlations
versus... Beta R-squared
S&P500 1.30 91%
MSCI EAFE 1.56 91%
MSCI Emg. Mkts. 1.22 77%

Technical Indicators
Recent close $27.67
30d moving avg. $27.62
Annualized volatility 23.9%
Short interest (ETF) 2.7%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 7
Turnover 2.0%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $31,576

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Defiance Quantum ETF based on the alternatives' overlap in portfolio holdings with QTUM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QTUM Expense: 40 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QTUM
Ticker Fund
Name
Overlap1
vs QTUM
(%)
Expense
ratio
(bp)
Savings
vs QTUM
(bp)
ALTAR
Score™
(%)
ALTAR
vs QTUM
(%)
IRBO iShares Robotics and Artificial Intelligence 30.4 47 -7 2.0 -4.5
JHMT John Hancock Multifactor Technology 29.7 40 0 6.1 -0.4
RYT Invesco S&P Equal Weight Technology 29.3 40 0 6.5 -0.0
GDAT Goldman Sachs Motif Data-Driven World 28.8 50 -10 6.0 -0.5
AIQ Global X Future Analytics Tech 27.0 68 -28 4.6 -1.9
QTEC First Trust NASDAQ 100 Tech 25.3 57 -17 6.1 -0.4
SOXX iShares PHLX SOX Semiconductor 24.2 46 -6 6.1 -0.4
SMH VanEck Vectors Semiconductors 23.4 35 5 6.4 -0.1
FTXL First Trust Nasdaq Semiconductor 23.3 60 -20 6.6 +0.1
PSI Invesco Dynamic Semiconductors 23.2 58 -18 5.9 -0.6
FXL First Trust Technology Alphadex 22.6 63 -23 5.6 -0.9
BLCN Reality Shares NASDAQ NextGen Economy 21.7 68 -28 5.6 -1.0
DRIV Global X Autonomous & Electric Vehicles 21.3 68 -28 7.6 +1.1
IXN iShares S&P Global Technology 20.9 46 -6 5.4 -1.1
XNTK SPDR NYSE Technology 20.3 35 5 5.7 -0.8
XSD SPDR S&P Semiconductors 20.1 35 5 5.1 -1.4
IYW iShares US Technology 19.9 42 -2 5.3 -1.2
TDIV First Trust NASDAQ Technology Dividend 19.9 50 -10 6.8 +0.3
VGT Vanguard Info Tech ETF 19.6 10 30 5.5 -1.0
FTEC Fidelity MSCI Info Technology 19.6 8 32 5.5 -1.0

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

  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:
Defiance Quantum
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 19.3 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.