Alpha Architect U.S. Quantitative Value ETF
ALTAR
Score™
11.2% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
23.5x P/Sales
ratio
0.6x
P/BV
ratio
1.8x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ValueShares US Quantitative Value ETF is an exchange-traded fund incorporated in the USA. This is an actively managed ETF and does not track an index. The ETF holds mid to large-cap US stocks and will invest in approximately 50 of the top U.S. equity securities as determined by its quantitative value system. The ETF weights the holdings equally and follows a quarterly rebalance schedule.

FUND BASICS
Category US Equities
Fund Sponsor Alpha Architect LLC
Website www.alphaarchitect.com
Inception date Oct 22, 2014
Assets (mns) $95
Currency USD
Expense ratio 49 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian US Bank NA/Milwaukee WI
Weighting Proprietary
Index replication Not Applicable
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 41
Wgt avg mkt cap (mns) $16,172
Large cap (>$10bn) 34.5%
Mid cap ($2-10bn) 59.9%
Small cap (<$2bn) 5.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HERBALIFE LTD 3.6 %
F5 NETWORKS INC 3.5 %
EASTMAN CHEMICAL COMPANY 3.1 %
CUMMINS INC 3.1 %
PACKAGING CORP OF AMERICA 3.1 %
UNITED RENTALS INC 3.1 %
AMERISOURCEBERGEN CORP 3.1 %
GILEAD SCIENCES INC 3.0 %
BORGWARNER INC 3.0 %
ROBERT HALF INTL INC 2.9 %
Total 31.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
CAYMAN ISLANDS 3.6 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-27.4% -12.7% -2.9% -- -1.5%

Market Correlations
versus... Beta R-squared
S&P500 1.55 85%
MSCI EAFE 1.62 79%
MSCI Emg. Mkts. 1.22 69%

Technical Indicators
Recent close $22.43
30d moving avg. $20.45
Annualized volatility 28.5%
Short interest (ETF) 0.0%
Short interest (Underlying) 9.3%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 29
Turnover 0.7%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $13,998

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Alpha Architect U.S. Quantitative Value ETF ETF based on the alternatives' overlap in portfolio holdings with QVAL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QVAL Expense: 49 bp ALTAR Score™: 11.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QVAL
Ticker Fund
Name
Overlap1
vs QVAL
(%)
Expense
ratio
(bp)
Savings
vs QVAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs QVAL
(%)
COWZ Pacer US Cash Cows 100 ETF 27.1 49 0 9.9 -1.3
FXD First Trust Consumer Discretionary AlphaDEX Fund 17.4 64 -15 8.6 -2.6
DVP Deep Value ETF 16.4 59 -10 16.3 +5.1
PY Principal Shareholder Yield Index ETF 16.4 29 20 9.4 -1.8
SPDV AAM S&P 500 High Dividend Value ETF 16.3 29 20 11.0 -0.2
RCD Invesco S&P 500 Equal Weight Consumer Discretionary ETF 16.2 40 9 7.5 -3.7
SDOG ALPS Sector Dividend Dogs ETF 15.6 40 9 10.3 -0.9
SYLD Cambria Shareholder Yield ETF 13.3 59 -10 9.2 -2.0
WBIY WBI Power Factor High Dividend ETF 12.7 70 -21 13.7 +2.5
VALQ American Century STOXX U.S. Quality Value ETF 11.9 29 20 9.0 -2.2
ONEY SPDR Russell 1000 Yield Focus ETF 11.9 20 29 8.6 -2.6
FNK First Trust Mid Cap Value AlphaDEX Fund 11.9 70 -21 10.8 -0.4
ESGS Columbia Sustainable U.S. Equity Income ETF 11.8 35 14 9.1 -2.1
SPVM Invesco S&P 500 Value with Momentum ETF 11.2 39 10 9.5 -1.7
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 11.0 25 24 7.4 -3.8
VLUE iShares Edge MSCI USA Value Factor ETF 11.0 15 34 11.2 +0.0
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 10.9 30 19 9.6 -1.6
FVAL Fidelity Value Factor ETF 10.8 29 20 8.2 -3.0
SPGP Invesco S&P 500 GARP ETF 10.2 35 14 7.4 -3.8
PMOM Principal Sustainable Momentum Index ETF 10.0 29 20 9.6 -1.6
RDVY First Trust Rising Dividend Achievers ETF 9.7 50 -1 7.9 -3.3
PEY Invesco High Yield Equity Dividend Achievers ETF 9.6 53 -4 8.8 -2.4
QDIV Global X S&P 500 Quality Dividend ETF 9.4 20 29 8.4 -2.8
DTN WisdomTree U.S. Dividend ex-Financials Fund 9.3 38 11 8.0 -3.2
FCPI Fidelity Stocks for Inflation ETF 9.0 29 20 6.9 -4.3
RTM Invesco S&P 500 Equal Weight Materials ETF 8.8 40 9 6.5 -4.7
SPVU Invesco S&P 500 Enhanced Value ETF 8.8 13 36 11.1 -0.1
RPV Invesco S&P 500 Pure Value ETF 8.7 35 14 11.5 +0.3
JHMA John Hancock Multifactor Materials ETF 8.6 40 9 7.0 -4.2
VOE Vanguard Mid-Cap Value Index Fund 8.6 7 42 8.0 -3.2
PWC Invesco Dynamic Market ETF 8.5 59 -10 7.0 -4.2
QSY WisdomTree U.S. LargeCap Value Fund 8.4 38 11 6.9 -4.3
JVAL JPMorgan U.S. Value Factor ETF 8.4 12 37 8.9 -2.3
FXZ First Trust Materials AlphaDEX Fund 8.3 65 -16 7.4 -3.8
JKI iShares Morningstar Mid-Cap Value ETF 8.2 30 19 9.7 -1.5
JHMI John Hancock Multifactor Industrials ETF 8.1 40 9 6.1 -5.1
SPYD SPDR S&P 500 High Dividend ETF 8.1 7 42 10.5 -0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 8.0 20 29 6.6 -4.6
SPYB SPDR S&P 500 Buyback ETF 7.9 35 14 9.5 -1.7
PVAL Principal Contrarian Value Index ETF 7.9 29 20 7.5 -3.7
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 7.9 20 29 9.7 -1.5
FTXD First Trust Nasdaq Retail ETF 7.9 60 -11 5.9 -5.3
PEJ Invesco Dynamic Leisure & Entertainment ETF 7.8 63 -14 8.1 -3.1
XHB SPDR S&P Homebuilders ETF 7.7 35 14 7.7 -3.5
JDIV JPMorgan U.S. Dividend ETF 7.7 12 37 8.1 -3.1
SYG SPDR MFS Systematic Growth Equity ETF 7.6 60 -11 4.7 -6.5
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 7.6 30 19 6.0 -5.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 7.6 35 14 8.5 -2.7
LRGF iShares Edge MSCI Multifactor USA ETF 7.6 20 29 7.0 -4.2
FTA First Trust Large Cap Value AlphaDEX Fund 7.5 60 -11 9.2 -2.0
RVRS Reverse Cap Weighted U.S. Large Cap ETF 7.5 29 20 7.4 -3.8
FAB First Trust Multi Cap Value AlphaDEX Fund 7.4 71 -22 9.7 -1.5
FMK First Trust Mega Cap AlphaDEX Fund 7.4 70 -21 5.3 -5.9
FTXR First Trust Nasdaq Transportation ETF 7.3 60 -11 6.7 -4.5
MOAT VanEck Vectors Morningstar Wide Moat ETF 7.3 49 0 6.2 -5.0
VUSE Vident Core US Equity Fund 7.2 48 1 7.8 -3.4
ONEV SPDR Russell 1000 Low Volatility Focus ETF 7.2 20 29 7.1 -4.1
PKB Invesco Dynamic Building & Construction ETF 7.2 60 -11 7.7 -3.5
RGI Invesco S&P 500 Equal Weight Industrials ETF 7.1 40 9 5.9 -5.3
DHS WisdomTree U.S. High Dividend Fund 7.1 38 11 8.6 -2.6
PAVE Global X U.S. Infrastructure Development ETF 7.0 47 2 6.0 -5.2
DGRW WisdomTree U.S. Quality Dividend Growth Fund 6.9 28 21 6.6 -4.6
PXMV Invesco S&P MidCap Value with Momentum ETF 6.7 39 10 9.5 -1.7
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 6.7 17 32 6.6 -4.6
DIV Global X SuperDividend US ETF 6.7 45 4 9.9 -1.3
EZM WisdomTree U.S. MidCap Earnings Fund 6.7 38 11 9.3 -1.9
FLQL Franklin LibertyQ U.S. Equity ETF 6.6 15 34 6.4 -4.8
SYE SPDR MFS Systematic Core Equity ETF 6.6 60 -11 6.0 -5.2
LSAF LeaderShares AlphaFactor US Core Equity ETF 6.6 75 -26 7.4 -3.8
GBDV Global Beta Smart Income ETF 6.5 29 20 12.1 +0.9
JHMH John Hancock Multifactor Healthcare ETF 6.4 40 9 5.9 -5.3
XLV Health Care Select Sector SPDR Fund 6.3 13 36 7.0 -4.2
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 6.3 63 -14 7.1 -4.1
ACSI American Customer Satisfaction Core Alpha ETF 6.2 66 -17 6.2 -5.0
RYH Invesco S&P 500 Equal Weight Health Care ETF 6.2 40 9 6.3 -4.9
AFMC First Trust Active Factor Mid Cap ETF 6.1 65 -16 6.2 -5.0
SPHB Invesco S&P 500 High Beta ETF 6.1 25 24 10.4 -0.8
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 6.1 49 0 10.2 -1.0
RDIV Invesco S&P Ultra Dividend Revenue ETF 6.1 39 10 11.0 -0.2
AFLG First Trust Active Factor Large Cap ETF 6.0 55 -6 5.6 -5.6
JPUS JPMorgan Diversified Return U.S. Equity ETF 6.0 19 30 6.3 -4.9
SCHD Schwab U.S. Dividend Equity ETF 6.0 6 43 7.5 -3.7
DON WisdomTree U.S. MidCap Dividend Fund 5.9 38 11 7.8 -3.4
FNX First Trust Mid Cap Core AlphaDEX Fund 5.9 61 -12 6.7 -4.5
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 5.9 35 14 8.6 -2.6
DSTL Distillate US Fundamental Stability & Value ETF 5.9 39 10 6.5 -4.7
LVHD Legg Mason Low Volatility High Dividend ETF 5.9 27 22 8.8 -2.4
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 5.8 20 29 7.7 -3.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 5.8 24 25 6.1 -5.1
WLDR Affinity World Leaders Equity ETF 5.8 47 2 9.7 -1.5
IEIH iShares Evolved U.S. Innovative Healthcare ETF 5.8 18 31 4.0 -7.2
USMF WisdomTree U.S. Multifactor Fund 5.7 28 21 6.2 -5.0
CUT Invesco MSCI Global Timber ETF 5.7 55 -6 9.4 -1.8
BBH VanEck Vectors Biotech ETF 5.7 35 14 3.7 -7.5
IBB iShares NASDAQ Biotechnology ETF 5.7 47 2 0.4 -10.8
PBE Invesco Dynamic Biotechnology & Genome ETF 5.7 57 -8 -1.0 -12.2
STLV iShares Factors US Value Style ETF 5.6 25 24 8.1 -3.1
FTHI First Trust High Income ETF 5.6 85 -36 5.5 -5.7
QDF FlexShares Quality Dividend Index Fund 5.6 37 12 7.0 -4.2

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:
Alpha Architect U.S. Quantitative Value ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.4 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 11.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 CATEGORY
AVERAGE
1.53
 
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.