Nationwide Risk-Based International Equity ETF
ALTAR
Score™
6.0% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
20.5x P/Sales
ratio
1.3x
P/BV
ratio
1.8x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Nationwide Risk-Based International Equity ETF tracks an index of large-cap stocks from developed countries, excluding US and Canada, that are selected and weighted for lower portfolio risk.

FUND BASICS
Category International Equities
Fund Sponsor Nationwide Fund Advisors
Website nationwidefinancial.com
Inception date Sep 15, 2017
Assets (mns) $111
Currency USD
Expense ratio 42 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 227
Wgt avg mkt cap (mns) $37,960
Large cap (>$10bn) 85.5%
Mid cap ($2-10bn) 13.1%
Small cap (<$2bn) 0.4%
Developed mkts 97.2%
Emerging mkts 2.8%

TOP TEN HOLDINGS
NEXON CO LTD 1.3 %
SOFTBANK CORP. 1.1 %
JARDINE MATHESON HLDGS LTD 1.0 %
NINTENDO CO LTD 1.0 %
MEIJI HOLDINGS CO LTD 0.9 %
NTT DOCOMO, INC. 0.9 %
NIPPON PAINT CO LTD 0.9 %
OSAKA SECURITIES EXCHANGE CO 0.9 %
AJINOMOTO CO INC 0.8 %
TOKYO GAS CO LTD 0.8 %
Total 9.6 %

TOP COUNTRY EXPOSURE
JAPAN 36.6 %
BRITAIN 10.8 %
GERMANY 7.5 %
FRANCE 5.0 %
SWITZERLAND 4.5 %
AUSTRALIA 4.4 %
NETHERLANDS 4.1 %
DENMARK 3.8 %
CHINA 2.7 %
SPAIN 2.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.8% 4.5% -- -- 2.1%

Market Correlations
versus... Beta R-squared
S&P500 0.64 80%
MSCI EAFE 0.75 92%
MSCI Emg. Mkts. 0.53 73%

Technical Indicators
Recent close $25.02
30d moving avg. $25.00
Annualized volatility 12.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.2%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $10,405

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Nationwide Risk-Based International Equity ETF ETF based on the alternatives' overlap in portfolio holdings with RBIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RBIN Expense: 42 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RBIN
Ticker Fund
Name
Overlap1
vs RBIN
(%)
Expense
ratio
(bp)
Savings
vs RBIN
(bp)
ALTAR
Score™
(%)
ALTAR
vs RBIN
(%)
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 39.3 45 -3 6.6 +0.6
CIL VictoryShares International Volatility Weighted Index ETF 39.3 45 -3 6.6 +0.6
TPIF Timothy Plan International ETF 38.3 62 -20 6.2 +0.2
IDLV Invesco S&P International Developed Low Volatility ETF 37.5 25 17 6.6 +0.6
EFAV iShares Edge MSCI Min Vol EAFE ETF 37.3 20 22 5.4 -0.6
QEFA SPDR MSCI EAFE Quality Mix ETF 35.3 30 12 6.8 +0.8
EFG iShares MSCI EAFE Growth ETF 34.2 40 2 4.4 -1.6
ESGD iShares MSCI EAFE ESG Optimized ETF 33.3 20 22 6.9 +0.9
RNDM Developed International Equity Select ETF 32.6 65 -23 6.3 +0.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 32.5 20 22 7.0 +1.0
GSID Goldman Sachs MarketBeta International Equity ETF 32.4 20 22 7.3 +1.3
JHMD John Hancock Multifactor Developed International ETF 32.4 39 3 7.3 +1.3
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 32.2 30 12 0.0 -6.0
EFA iShares MSCI EAFE ETF 32.2 32 10 7.0 +1.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 32.2 25 17 6.6 +0.6
DWMF WisdomTree International Multifactor Fund 32.1 38 4 6.2 +0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 32.0 20 22 7.4 +1.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 31.5 35 7 6.8 +0.8
IMTM iShares Edge MSCI Intl Momentum Factor ETF 31.4 30 12 4.3 -1.7
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 31.2 35 7 6.9 +0.9
BKIE BNY Mellon International Equity ETF 31.1 4 38 7.3 +1.3
IQSI IQ Candriam ESG International Equity ETF 31.0 15 27 7.3 +1.3
SCID Global X Scientific Beta Europe ETF 30.4 39 3 6.5 +0.5
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 30.3 7 35 7.4 +1.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 30.3 14 28 6.8 +0.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 30.1 39 3 6.5 +0.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 29.9 25 17 6.4 +0.4
IEFA iShares Core MSCI EAFE ETF 28.9 7 35 7.2 +1.2
DOL WisdomTree International LargeCap Dividend Fund 28.7 48 -6 8.7 +2.7
SCHF Schwab International Equity ETF 28.6 6 36 7.3 +1.3
PQIN PGIM QMA Strategic Alpha International Equity ETF 28.2 29 13 7.5 +1.5
DWM WisdomTree International Equity Fund 28.1 48 -6 8.3 +2.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 28.0 32 10 5.9 -0.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 27.9 30 12 0.0 -6.0
JPMV iShares Edge MSCI Min Vol Japan ETF 27.8 30 12 6.2 +0.2
JPIN JPMorgan Diversified Return International Equity ETF 27.7 37 5 7.8 +1.8
FLEE Franklin FTSE Europe ETF 27.7 9 33 7.0 +1.0
IEV iShares Europe ETF 27.6 59 -17 6.8 +0.8
FDEV Fidelity Targeted International Factor ETF 27.5 39 3 6.4 +0.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 27.5 35 7 8.6 +2.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 27.5 45 -3 6.6 +0.6
FLEH Franklin FTSE Europe Hedged ETF 27.2 9 33 7.2 +1.2
BBEU JPMorgan BetaBuilders Europe ETF 27.1 9 33 7.4 +1.4
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 26.8 80 -38 6.5 +0.5
IDEV iShares Core MSCI International Developed Markets ETF 26.7 5 37 7.2 +1.2
MVIN Natixis Seeyond International Minimum Volatility ETF 26.6 56 -14 5.5 -0.5
SPDW SPDR Portfolio Developed World ex-US ETF 26.5 4 38 7.1 +1.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 26.4 30 12 5.9 -0.1
VGK Vanguard FTSE Europe ETF 26.4 8 34 7.4 +1.4
IEUR iShares Core MSCI Europe ETF 26.2 9 33 7.2 +1.2
QJPN SPDR MSCI Japan StrategicFactors ETF 26.1 14 28 7.3 +1.3
FEU SPDR Portfolio Europe ETF 26.0 9 33 7.3 +1.3
VEA Vanguard FTSE Developed Markets ETF 25.9 5 37 7.3 +1.3
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 25.8 25 17 7.0 +1.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 25.7 29 13 7.6 +1.6
EWJ iShares MSCI Japan ETF 25.7 49 -7 6.9 +0.9
DBJP Xtrackers MSCI Japan Hedged Equity ETF 25.4 45 -3 6.9 +0.9
BBJP JPMorgan BetaBuilders Japan ETF 25.3 19 23 7.2 +1.2
IDMO Invesco S&P International Developed Momentum ETF 25.2 26 16 4.5 -1.5
JPXN iShares JPX-Nikkei 400 ETF 25.2 48 -6 6.9 +0.9
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 25.2 9 33 7.4 +1.4
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 25.1 30 12 0.0 -6.0
CWI SPDR MSCI ACWI ex-US ETF 25.1 30 12 7.2 +1.2
FLJP Franklin FTSE Japan ETF 25.0 9 33 7.3 +1.3
IDHQ Invesco S&P International Developed Quality ETF 25.0 29 13 5.0 -1.0
FLJH Franklin FTSE Japan Hedged ETF 24.8 9 33 7.3 +1.3
VGFO Virtus WMC Global Factor Opportunities ETF 24.5 49 -7 8.0 +2.0
IDLB Invesco FTSE International Low Beta Equal Weight ETF 24.2 45 -3 7.0 +1.0
ACWX iShares MSCI ACWI ex U.S. ETF 24.2 32 10 7.3 +1.3
PDEV Principal International Multi-Factor Core Index ETF 23.9 25 17 7.9 +1.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 23.9 24 18 6.9 +0.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 23.7 40 2 7.1 +1.1
IQIN IQ 500 International ETF 23.4 25 17 8.7 +2.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 23.3 45 -3 8.9 +2.9
VEU Vanguard FTSE All-World ex-US Index Fund 23.2 8 34 7.6 +1.6
FNDF Schwab Fundamental International Large Co. Index ETF 23.1 25 17 8.8 +2.8
IPAC iShares Core MSCI Pacific ETF 22.7 9 33 7.0 +1.0
IDY Pacific Global International Equity Income ETF 22.6 39 3 8.0 +2.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 22.6 16 26 6.9 +0.9
VSGX Vanguard ESG International Stock ETF 22.2 17 25 7.1 +1.1
QINT American Century Quality Diversified International ETF 21.8 39 3 6.0 +0.0
IXUS ishares Core MSCI Total International Stock ETF 21.8 9 33 7.4 +1.4
VXUS Vanguard Total International Stock Index Fund 20.9 8 34 7.5 +1.5
ISDX Invesco Strategic Developed ex-US ETF 20.5 23 19 7.4 +1.4
EZU iShares MSCI Eurozone ETF 20.3 49 -7 6.6 +0.6
EURZ Xtrackers Eurozone Equity ETF 20.3 9 33 7.1 +1.1
ISZE iShares Edge MSCI Intl Size Factor ETF 20.2 30 12 7.1 +1.1
NUDM Nuveen ESG International Developed Markets Equity ETF 20.1 40 2 6.7 +0.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 19.8 45 -3 6.7 +0.7
UIVM VictoryShares USAA MSCI International Value Momentum ETF 19.6 35 7 8.5 +2.5
SCIJ Global X Scientific Beta Japan ETF 19.5 40 2 6.8 +0.8
VPL Vanguard FTSE Pacific ETF 19.3 8 34 7.4 +1.4
OEUR O'shares FTSE Europe Quality Dividend ETF 18.9 48 -6 6.7 +0.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 18.9 39 3 8.3 +2.3
LVIN Hartford Multifactor Low Volatility International Equity ETF 18.8 29 13 11.4 +5.4
EFV iShares MSCI EAFE Value ETF 18.3 39 3 9.7 +3.7
IQDE FlexShares International Quality Dividend Defensive Index Fd 18.3 47 -5 9.2 +3.2
IQDG WisdomTree International Quality Dividend Growth Fund 18.1 42 0 6.2 +0.2
AVDE Avantis International Equity ETF 18.0 23 19 7.6 +1.6

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%.

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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:
Nationwide Risk-Based International Equity 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 11.2 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 CATEGORY
AVERAGE
1.57
 
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.