Nationwide Risk-Based U.S. Equity ETF
ALTAR
Score™
5.0% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
25.4x P/Sales
ratio
2.0x
P/BV
ratio
3.8x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
RBUS tracks an index of approximately 250 U.S. large cap stocks that are selected and weighted according to volatility, cross-correlation, and the Sharpe ratio.

FUND BASICS
Category US Equities
Fund Sponsor Nationwide Fund Advisors
Website nationwidefinancial.com
Inception date Sep 15, 2017
Assets (mns) $108
Currency USD
Expense ratio 30 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 247
Wgt avg mkt cap (mns) $55,075
Large cap (>$10bn) 85.2%
Mid cap ($2-10bn) 14.8%
Small cap (<$2bn) 0.0%
Developed mkts 99.7%
Emerging mkts 0.3%

TOP TEN HOLDINGS
MODERNA, INC. 3.9 %
QIAGEN NV 0.9 %
SPOTIFY TECHNOLOGY SA 0.9 %
DOCUSIGN, INC. 0.9 %
KROGER CO 0.8 %
CLOROX COMPANY 0.8 %
TELADOC INC 0.8 %
NEWMONT MINING CORP 0.7 %
TWILIO, INC. CLASS A 0.7 %
ABBVIE INC 0.7 %
Total 11.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.2 %
BRITAIN 2.9 %
IRELAND 2.3 %
NETHERLANDS 0.9 %
LUXEMBOURG 0.9 %
SWITZERLAND 0.7 %
BERMUDA 0.6 %
CHINA 0.6 %
ISRAEL 0.4 %
ITALY 0.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.5% 4.8% -- -- 8.3%

Market Correlations
versus... Beta R-squared
S&P500 0.88 92%
MSCI EAFE 0.90 82%
MSCI Emg. Mkts. 0.63 61%

Technical Indicators
Recent close $30.39
30d moving avg. $29.70
Annualized volatility 16.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.1%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $122,698

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Nationwide Risk-Based U.S. Equity ETF ETF based on the alternatives' overlap in portfolio holdings with RBUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RBUS Expense: 30 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RBUS
Ticker Fund
Name
Overlap1
vs RBUS
(%)
Expense
ratio
(bp)
Savings
vs RBUS
(bp)
ALTAR
Score™
(%)
ALTAR
vs RBUS
(%)
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 50.9 35 -5 5.4 +0.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 48.4 17 13 6.5 +1.5
SCIU Global X Scientific Beta US ETF 46.5 19 11 5.7 +0.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 44.8 9 21 5.8 +0.9
CFA VictoryShares US 500 Volatility Weighted Index ETF 44.1 35 -5 5.9 +0.9
MXDU Nationwide Maximum Diversification US Core Equity ETF 43.9 34 -4 4.8 -0.2
JMIN JPMorgan U.S. Minimum Volatility ETF 40.5 12 18 5.8 +0.8
USMF WisdomTree U.S. Multifactor Fund 40.4 28 2 5.4 +0.4
JPUS JPMorgan Diversified Return U.S. Equity ETF 40.4 18 12 6.2 +1.2
RSP Invesco S&P 500 Equal Weight ETF 40.0 20 10 6.7 +1.7
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 40.0 17 13 6.4 +1.4
FEX First Trust Large Cap Core AlphaDEX Fund 39.3 60 -30 6.0 +1.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 38.4 9 21 5.5 +0.5
SPLV Invesco S&P 500 Low Volatility ETF 38.3 25 5 5.6 +0.6
TPLC Timothy Plan US Large Cap Core ETF 37.8 52 -22 5.5 +0.5
EUSA iShares MSCI USA Equal Weighted ETF 36.0 15 15 6.3 +1.3
JHML John Hancock Multifactor Large Cap ETF 35.6 29 1 5.5 +0.5
SIZE iShares Edge MSCI USA Size Factor ETF 35.6 15 15 6.3 +1.3
RNLC Large Cap US Equity Select ETF 34.9 60 -30 6.2 +1.2
USMV iShares Edge MSCI Min Vol USA ETF 34.9 15 15 5.5 +0.5
DYNF BlackRock U.S. Equity Factor Rotation ETF 34.4 30 0 6.5 +1.5
ONEO SPDR Russell 1000 Momentum Focus ETF 34.3 20 10 6.4 +1.5
SPXT ProShares S&P 500 Ex-Technology ETF 34.0 27 3 5.6 +0.6
BKMC BNY Mellon US Mid Cap Core Equity ETF 33.5 4 26 5.8 +0.8
AFLG First Trust Active Factor Large Cap ETF 33.1 55 -25 5.5 +0.5
QUS SPDR MSCI USA StrategicFactors ETF 33.1 15 15 5.8 +0.8
IWR iShares Russell Midcap ETF 32.3 19 11 5.6 +0.6
ONEV SPDR Russell 1000 Low Volatility Focus ETF 32.1 20 10 7.0 +2.0
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 31.9 25 5 5.9 +0.9
VO Vanguard Mid-Cap Index Fund 31.5 4 26 5.4 +0.4
EXT WisdomTree U.S. Total Earnings Fund 31.2 28 2 5.2 +0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 31.0 29 1 6.7 +1.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 30.8 60 -30 6.1 +1.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 30.7 24 6 6.2 +1.2
SFY SoFi Select 500 ETF 30.6 0 30 5.2 +0.2
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 30.5 75 -45 3.7 -1.3
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 30.3 20 10 7.6 +2.6
VOOV Vanguard S&P 500 Value ETF 30.2 15 15 7.3 +2.3
PBUS Invesco PureBeta MSCI USA ETF 30.2 4 26 5.2 +0.2
FTC First Trust Large Cap Growth AlphaDEX Fund 30.2 61 -31 2.9 -2.1
SPYV SPDR Portfolio S&P 500 Value ETF 30.2 4 26 7.4 +2.4
IVE iShares S&P 500 Value ETF 30.2 18 12 7.2 +2.2
ROUS Hartford Multifactor US Equity ETF 30.2 19 11 7.3 +2.3
PBP Invesco S&P 500 BuyWrite ETF 30.1 49 -19 5.0 0.0
EQAL Invesco Russell 1000 Equal Weight ETF 30.1 20 10 5.7 +0.7
SPXN ProShares S&P 500 Ex-Financials ETF 29.9 27 3 4.9 -0.1
IWP iShares Russell Mid-Cap Growth ETF 29.9 24 6 4.1 -0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 29.9 7 23 5.1 +0.1
SPXE ProShares S&P 500 Ex-Energy ETF 29.9 27 3 5.2 +0.2
SCHX Schwab U.S. Large-Cap ETF 29.8 3 27 5.2 +0.2
SPY SPDR S&P 500 ETF Trust 29.7 9 21 5.3 +0.3
IVV iShares Core S&P 500 ETF 29.7 4 26 5.3 +0.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 29.7 2 28 5.2 +0.2
HSPX Global X S&P 500 Covered Call ETF 29.6 65 -35 4.8 -0.2
SPLG SPDR Portfolio Large Cap ETF 29.6 3 27 5.3 +0.4
VONE Vanguard Russell 1000 ETF 29.6 8 22 5.2 +0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 29.6 20 10 5.3 +0.3
IWB iShares Russell 1000 ETF 29.6 15 15 5.1 +0.1
DEF Invesco Defensive Equity ETF 29.6 55 -25 5.0 +0.1
VV Vanguard Large-Cap Index Fund 29.5 4 26 5.2 +0.2
SCHK Schwab 1000 Index ETF 29.5 5 25 5.2 +0.2
VOO VANGUARD S&P 500 ETF 29.4 3 27 5.4 +0.4
IUSV iShares Core S&P U.S. Value ETF 29.4 4 26 7.4 +2.4
IYY iShares Dow Jones U.S. ETF 29.3 20 10 5.1 +0.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 29.1 12 18 4.8 -0.2
JHMM John Hancock Multifactor Mid Cap ETF 29.0 42 -12 5.8 +0.8
ESGU iShares MSCI USA ESG Optimized ETF 28.9 15 15 5.0 +0.0
IWV iShares Russell 3000 ETF 28.7 20 10 5.0 +0.0
VTHR Vanguard Russell 3000 Index Fund 28.6 10 20 5.1 +0.1
SPTM SPDR Portfolio Total Stock Market ETF 28.6 3 27 5.5 +0.5
JMOM JPMorgan U.S. Momentum Factor ETF 28.5 12 18 3.8 -1.2
LSLT Salt Low truBeta US Market ETF 28.5 29 1 6.0 +1.0
SCHB Schwab U.S. Broad Market ETF 28.5 3 27 5.2 +0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 28.4 3 27 5.1 +0.1
PRF Invesco FTSE RAFI US 1000 ETF 28.3 39 -9 6.8 +1.8
FLQL Franklin LibertyQ U.S. Equity ETF 28.3 15 15 6.2 +1.2
VTI Vanguard Total Stock Market Index Fund 28.3 3 27 5.1 +0.1
IWD iShares Russell 1000 Value ETF 28.0 19 11 7.1 +2.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 28.0 29 1 6.2 +1.2
CATH Global X S&P 500 Catholic Values Custom ETF 27.9 29 1 5.1 +0.2
JQUA JPMorgan U.S. Quality Factor ETF 27.9 12 18 5.2 +0.2
IUS Invesco Strategic US ETF 27.7 19 11 6.6 +1.6
AVUS Avantis U.S. Equity ETF 27.7 15 15 5.7 +0.7
VONV Vanguard Russell 1000 Value Index Fund 27.7 8 22 7.2 +2.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 27.6 25 5 6.5 +1.5
EPS WisdomTree U.S. Earnings 500 Fund 27.4 8 22 6.4 +1.4
RVRS Reverse Cap Weighted U.S. Large Cap ETF 27.1 29 1 8.2 +3.2
RWL Invesco S&P 500 Revenue ETF 26.9 39 -9 7.2 +2.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 26.9 25 5 6.5 +1.5
PSET Principal Price Setters Index ETF 26.8 29 1 4.6 -0.4
KRMA Global X Conscious Companies ETF 26.2 43 -13 5.1 +0.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 26.2 19 11 6.0 +1.1
HUSV First Trust Horizon Managed Volatility Domestic ETF 26.0 70 -40 4.7 -0.3
ESGV Vanguard ESG U.S. Stock ETF 25.9 12 18 5.1 +0.1
AIEQ AI Powered Equity ETF 25.7 87 -57 3.6 -1.4
MGC Vanguard Mega Cap Index Fund 25.7 7 23 5.2 +0.2
VTV Vanguard Value Index Fund 25.5 4 26 7.4 +2.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 25.3 20 10 4.9 -0.1
SCHV Schwab U.S. Large-Cap Value ETF 25.2 4 26 7.1 +2.1
VLU SPDR S&P 1500 Value Tilt ETF 25.0 12 18 7.4 +2.4

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 U.S. 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 18.7 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.52
 
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.