Arrow QVM Equity Factor ETF
ALTAR
Score™
5.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
23.7x P/Sales
ratio
2.0x
P/BV
ratio
3.7x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Arrow QVM Equity Factor ETF tracks an index of US-listed stocks selected by quality, value and momentum screens. About 50 stocks make the cut and receive equal weight in the portfolio.

FUND BASICS
Category US Equities
Fund Sponsor Arrow Investment Advisors
Website www.arrowshares.com
Inception date Feb 27, 2015
Assets (mns) $5
Currency USD
Expense ratio 65 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $385,315
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 8.8 %
UNITEDHEALTH GROUP INC 8.5 %
HOME DEPOT INC 6.9 %
GOLDMAN SACHS GROUP INC 5.5 %
VISA INC-CLASS A SHARES 5.4 %
MCDONALD'S CORP 5.2 %
MICROSOFT CORP 5.1 %
3M CO 4.3 %
JOHNSON & JOHNSON 4.1 %
BOEING CO 4.0 %
Total 57.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 102.8 %










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.
-27.7% -15.8% -0.6% -- -0.3%

Market Correlations
versus... Beta R-squared
S&P500 1.29 86%
MSCI EAFE 1.36 82%
MSCI Emg. Mkts. 1.03 71%

Technical Indicators
Recent close $21.67
30d moving avg. $20.55
Annualized volatility 23.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 5
Turnover 2.0%
Bid/Ask (% of price) 1.12%
ADV underlying (mns) $56,119

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Arrow QVM Equity Factor ETF ETF based on the alternatives' overlap in portfolio holdings with QVM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QVM Expense: 65 bp ALTAR Score™: 5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QVM
Ticker Fund
Name
Overlap1
vs QVM
(%)
Expense
ratio
(bp)
Savings
vs QVM
(bp)
ALTAR
Score™
(%)
ALTAR
vs QVM
(%)
DIA SPDR Dow Jones Industrial Average ETF Trust 99.8 16 49 5.6 +0.6
EDOW First Trust Dow 30 Equal Weight ETF 77.6 50 15 5.8 +0.8
DJD Invesco Dow Jones Industrial Average Dividend ETF 66.2 7 58 6.7 +1.6
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 60.7 49 16 4.8 -0.3
XLG Invesco S&P 500 Top 50 ETF 44.8 20 45 4.7 -0.4
OEF iShares S&P 100 ETF 41.7 20 45 5.0 -0.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 39.5 12 53 4.9 -0.2
FDRR Fidelity Dividend ETF for Rising Rates 38.4 29 36 7.1 +2.0
QDEF FlexShares Quality Dividend Defensive Index Fund 37.1 37 28 6.3 +1.2
OUSA O'Shares FTSE US Quality Dividend ETF 36.8 48 17 5.7 +0.6
PFM Invesco Dividend Achievers ETF 36.7 54 11 5.4 +0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 36.6 28 37 6.4 +1.3
IOO iShares Global 100 ETF 36.5 40 25 4.9 -0.2
DGRO iShares Core Dividend Growth ETF 36.5 8 57 6.5 +1.5
QDYN FlexShares Quality Dividend Dynamic Index Fund 35.7 37 28 6.8 +1.8
IWL iShares Russell Top 200 ETF 34.7 15 50 5.2 +0.1
QDF FlexShares Quality Dividend Index Fund 34.4 37 28 6.9 +1.8
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 34.3 29 36 4.3 -0.7
MGV Vanguard Mega Cap Value ETF 34.3 7 58 7.2 +2.1
FDVV Fidelity Core Dividend ETF 33.8 29 36 7.3 +2.3
EPS WisdomTree U.S. Earnings 500 Fund 33.7 8 57 6.5 +1.4
NACP Impact Shares NAACP Minority Empowerment ETF 33.6 75 -10 4.6 -0.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 33.4 49 16 4.2 -0.9
DTD WisdomTree U.S.Total Dividend Fund 33.1 28 37 6.6 +1.5
MGC Vanguard Mega Cap Index Fund 33.0 7 58 5.3 +0.3
FDLO Fidelity Low Volatility Factor ETF 32.7 29 36 5.2 +0.1
DIVB iShares U.S. Dividend & Buyback ETF 32.3 25 40 6.5 +1.4
RAFE PIMCO RAFI ESG U.S. ETF 32.1 29 36 7.7 +2.6
SNPE Xtrackers S&P 500 ESG ETF 32.0 11 54 5.2 +0.1
PBP Invesco S&P 500 BuyWrite ETF 31.8 49 16 5.1 +0.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 31.7 19 46 5.7 +0.6
VIG Vanguard Dividend Appreciation Index Fund 31.5 6 59 5.2 +0.1
HSPX Global X S&P 500 Covered Call ETF 31.4 65 0 5.0 -0.1
SPHQ Invesco S&P 500 Quality ETF 31.4 15 50 5.2 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 31.4 20 45 5.1 -0.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 31.3 25 40 6.6 +1.5
SPXN ProShares S&P 500 Ex-Financials ETF 31.2 27 38 5.1 +0.1
IUS Invesco Strategic US ETF 31.2 19 46 6.2 +1.1
FVAL Fidelity Value Factor ETF 31.0 29 36 8.1 +3.1
VTV Vanguard Value Index Fund 31.0 4 61 7.3 +2.2
BVAL Brand Value ETF 31.0 65 0 6.1 +1.0
IWX iShares Russell Top 200 Value ETF 30.9 20 45 7.0 +1.9
YLDE ClearBridge Dividend Strategy ESG ETF 30.7 60 5 5.0 -0.1
RECS Columbia Research Enhanced Core ETF 30.4 15 50 5.7 +0.6
QLC FlexShares US Quality Large Cap Index Fund 30.1 32 33 5.6 +0.5
VYM Vanguard High Dividend Yield Index ETF 29.7 6 59 7.2 +2.2
SPLG SPDR Portfolio Large Cap ETF 29.7 3 62 5.5 +0.4
IVV iShares Core S&P 500 ETF 29.6 4 61 5.5 +0.4
SPY SPDR S&P 500 ETF Trust 29.6 9 56 5.5 +0.4
VOO VANGUARD S&P 500 ETF 29.5 3 62 5.5 +0.5
WOMN Impact Shares YWCA Women's Empowerment ETF 29.5 75 -10 4.6 -0.5
TMFC Motley Fool 100 Index ETF 29.4 50 15 4.0 -1.1
FQAL Fidelity Quality Factor ETF 29.4 29 36 5.5 +0.4
IQSU IQ Candriam ESG US Equity ETF 29.2 9 56 5.3 +0.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 29.2 25 40 6.6 +1.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 29.2 15 50 6.4 +1.3
HLAL Wahed FTSE USA Shariah ETF 29.1 50 15 4.7 -0.4
ESG FlexShares STOXX US ESG Impact Index Fund 29.1 32 33 5.2 +0.1
PBUS Invesco PureBeta MSCI USA ETF 29.0 4 61 5.4 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 29.0 15 50 5.2 +0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 28.9 20 45 5.5 +0.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 28.9 12 53 5.1 +0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 28.9 27 38 5.2 +0.1
SPXE ProShares S&P 500 Ex-Energy ETF 28.9 27 38 5.4 +0.4
CCOR Core Alternative ETF 28.8 123 -58 4.3 -0.8
VV Vanguard Large-Cap Index Fund 28.8 4 61 5.4 +0.3
JKF iShares Morningstar Large Cap Value ETF 28.8 25 40 7.7 +2.6
EQWL Invesco Russell Top 200 Equal Weight ETF 28.7 25 40 6.0 +1.0
XOUT GraniteShares XOUT U.S. Large Cap ETF 28.5 60 5 4.5 -0.5
DGRW WisdomTree U.S. Quality Dividend Growth Fund 28.5 28 37 6.6 +1.5
QUS SPDR MSCI USA StrategicFactors ETF 28.5 15 50 5.9 +0.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 28.5 2 63 5.4 +0.4
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 28.4 35 30 6.7 +1.6
QUAL iShares MSCI Usa Quality Factor ETF 28.3 15 50 5.4 +0.4
RFDA RiverFront Dynamic US Dividend Advantage ETF 28.2 52 13 6.0 +0.9
SCHX Schwab U.S. Large-Cap ETF 27.8 3 62 5.4 +0.3
IWY iShares Russell Top 200 Growth ETF 27.7 20 45 4.3 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 27.7 3 62 5.6 +0.5
SCHV Schwab U.S. Large-Cap Value ETF 27.3 4 61 7.1 +2.0
IWB iShares Russell 1000 ETF 27.2 15 50 5.3 +0.2
SUSL iShares ESG MSCI USA Leaders ETF 27.1 10 55 5.4 +0.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 27.1 10 55 5.5 +0.4
ACIO Aptus Collared Income Opportunity ETF 27.0 79 -14 4.5 -0.6
VONE Vanguard Russell 1000 ETF 27.0 8 57 5.4 +0.3
SCHK Schwab 1000 Index ETF 26.9 5 60 5.4 +0.3
IYY iShares Dow Jones U.S. ETF 26.6 20 45 5.3 +0.2
SPMO Invesco S&P 500 Momentum ETF 26.6 13 52 4.5 -0.6
JOYY Infusive Compounding Global Equities ETF 26.5 50 15 3.9 -1.2
VOOG Vanguard S&P 500 Growth ETF 26.3 10 55 4.4 -0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 26.2 4 61 4.5 -0.6
IVW iShares S&P 500 Growth ETF 26.2 18 47 4.3 -0.7
SPYV SPDR Portfolio S&P 500 Value ETF 26.2 4 61 7.3 +2.3
IVE iShares S&P 500 Value ETF 26.2 18 47 7.2 +2.1
FLLV Franklin Liberty U.S. Low Volatility ETF 26.1 29 36 5.7 +0.6
VOOV Vanguard S&P 500 Value ETF 25.7 15 50 7.2 +2.1
SCHB Schwab U.S. Broad Market ETF 25.6 3 62 5.4 +0.3
IWV iShares Russell 3000 ETF 25.6 20 45 5.2 +0.1
PRF Invesco FTSE RAFI US 1000 ETF 25.5 39 26 6.8 +1.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 25.5 3 62 5.3 +0.2
VTI Vanguard Total Stock Market Index Fund 25.5 3 62 5.3 +0.2

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:
Arrow QVM Equity Factor ETF
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 19.9 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 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.