Nationwide Risk-Based U.S. Equity ETF
ALTAR
Score™
7.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
15.2x P/Sales
ratio
1.3x
P/BV
ratio
2.2x Div.
yield
2.6%


  • 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 18, 2017
Assets (mns) $86
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 250
Wgt avg mkt cap (mns) $48,196
Large cap (>$10bn) 85.8%
Mid cap ($2-10bn) 14.2%
Small cap (<$2bn) 0.0%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
NEWMONT MINING CORP 2.1 %
BIOGEN IDEC INC 0.8 %
CITRIX SYSTEMS INC 0.8 %
NEXTERA ENERGY GROUP 0.8 %
WESTAR ENERGY INC 0.8 %
CBOE HOLDINGS INC 0.7 %
WEC ENERGY GROUP INC 0.7 %
AMERICAN WATER WORKS CO INC 0.7 %
JM SMUCKER CO/THE 0.7 %
EVERSOURCE ENERGY 0.7 %
Total 8.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.2 %
IRELAND 2.6 %
BRITAIN 2.1 %
SWITZERLAND 0.7 %
BERMUDA 0.7 %
ISRAEL 0.5 %
ITALY 0.4 %
PERU 0.4 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.2% -8.7% -- -- 1.2%

Market Correlations
versus... Beta R-squared
S&P500 0.85 91%
MSCI EAFE 0.85 84%
MSCI Emg. Mkts. 0.61 63%

Technical Indicators
Recent close $23.97
30d moving avg. $26.51
Annualized volatility 14.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.5%
Bid/Ask (% of price) 1.72%
ADV underlying (mns) $129,898

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™: 7.2%


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
(%)
JMIN JPMorgan U.S. Minimum Volatility ETF 55.5 12 18 7.2 -0.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 52.6 19 11 8.3 +1.1
SCIU Global X Scientific Beta US ETF 51.4 19 11 7.6 +0.4
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 48.6 35 -5 7.6 +0.5
USMV iShares Edge MSCI Min Vol USA ETF 48.1 15 15 6.8 -0.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 47.4 9 21 8.1 +1.0
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 46.8 17 13 9.0 +1.8
RSP Invesco S&P 500 Equal Weight ETF 46.3 20 10 8.8 +1.6
CFA Victory CEMP US 500 Volatility Weighted Index ETF 46.3 35 -5 8.1 +0.9
RNLC Large Cap US Equity Select ETF 45.6 60 -30 8.2 +1.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 42.9 9 21 7.3 +0.1
FEX First Trust Large Cap Core AlphaDEX Fund 42.7 60 -30 8.1 +0.9
QUS SPDR MSCI USA StrategicFactors ETF 42.0 15 15 7.3 +0.1
MXDU Nationwide Maximum Diversification US Core Equity ETF 41.7 34 -4 6.8 -0.4
JHML John Hancock Multifactor Large Cap ETF 41.6 34 -4 7.5 +0.3
EUSA iShares MSCI USA Equal Weighted ETF 40.6 15 15 8.4 +1.3
SPYV SPDR Portfolio S&P 500 Value ETF 40.4 4 26 9.2 +2.0
IVE iShares S&P 500 Value ETF 40.3 18 12 9.1 +1.9
SIZE iShares Edge MSCI USA Size Factor ETF 40.1 15 15 8.3 +1.1
VOOV Vanguard S&P 500 Value ETF 39.9 15 15 9.2 +2.0
DYNF BlackRock U.S. Equity Factor Rotation ETF 39.8 30 0 8.1 +0.9
IUSV iShares Core S&P U.S. Value ETF 39.3 4 26 9.4 +2.2
SPXT ProShares S&P 500 Ex-Technology ETF 38.9 27 3 7.3 +0.1
ROUS Hartford Multifactor US Equity ETF 38.5 19 11 9.2 +2.0
AFLG First Trust Active Factor Large Cap ETF 37.9 55 -25 7.7 +0.5
PBP Invesco S&P 500 BuyWrite ETF 37.0 49 -19 6.5 -0.7
HSPX Global X S&P 500 Covered Call ETF 36.9 65 -35 6.2 -1.0
VTV Vanguard Value Index Fund 36.2 4 26 9.1 +1.9
FVD First Trust Value Line Dividend Index Fund 35.9 70 -40 8.0 +0.8
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 35.8 17 13 8.9 +1.8
IWD iShares Russell 1000 Value ETF 35.8 19 11 9.1 +2.0
VONV Vanguard Russell 1000 Value Index Fund 35.8 8 22 9.3 +2.1
PRF Invesco FTSE RAFI US 1000 ETF 35.7 39 -9 9.2 +2.0
SPLV Invesco S&P 500 Low Volatility ETF 35.6 25 5 6.7 -0.5
VLU SPDR S&P 1500 Value Tilt ETF 35.6 12 18 9.6 +2.4
SPY SPDR S&P 500 ETF Trust 35.4 9 21 7.1 -0.1
SPLG SPDR Portfolio Large Cap ETF 35.4 3 27 7.1 -0.1
IVV iShares Core S&P 500 ETF 35.4 4 26 7.1 -0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 35.3 25 5 8.3 +1.1
SPXE ProShares S&P 500 Ex-Energy ETF 35.2 27 3 7.0 -0.2
VOO VANGUARD S&P 500 ETF 35.2 3 27 7.1 -0.1
PBUS Invesco PureBeta MSCI USA ETF 35.1 4 26 7.2 -0.0
USMF WisdomTree U.S. Multifactor Fund 35.1 28 2 8.1 +0.9
VV Vanguard Large-Cap Index Fund 35.0 4 26 7.0 -0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 35.0 20 10 7.1 -0.1
SCHX Schwab U.S. Large-Cap ETF 34.9 3 27 7.0 -0.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 34.8 29 1 10.6 +3.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 34.8 2 28 7.1 -0.1
ONEV SPDR Russell 1000 Low Volatility Focus ETF 34.8 20 10 9.5 +2.3
ACWV iShares Edge MSCI Min Vol Global ETF 34.8 20 10 6.7 -0.4
RWL Invesco S&P 500 Revenue ETF 34.6 39 -9 9.2 +2.0
IWB iShares Russell 1000 ETF 34.4 15 15 7.0 -0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 34.4 29 1 9.2 +2.1
VONE Vanguard Russell 1000 ETF 34.4 8 22 7.0 -0.2
SCHK Schwab 1000 Index ETF 34.3 5 25 7.0 -0.2
FTA First Trust Large Cap Value AlphaDEX Fund 34.2 60 -30 12.1 +4.9
SPTM SPDR Portfolio Total Stock Market ETF 34.2 3 27 7.3 +0.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 34.1 25 5 8.4 +1.2
EPS WisdomTree U.S. Earnings 500 Fund 34.1 8 22 8.5 +1.3
LSLT Salt Low truBeta US Market ETF 34.1 0 30 8.5 +1.4
IYY iShares Dow Jones U.S. ETF 34.1 20 10 6.9 -0.3
FLQL Franklin LibertyQ U.S. Equity ETF 34.1 15 15 8.0 +0.8
LVUS Hartford Multifactor Low Volatility US Equity ETF 33.7 19 11 7.6 +0.4
VO Vanguard Mid-Cap Index Fund 33.6 4 26 7.7 +0.5
SPXN ProShares S&P 500 Ex-Financials ETF 33.6 27 3 6.6 -0.6
IUS Invesco Strategic US ETF 33.5 19 11 7.9 +0.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 33.3 29 1 8.2 +1.0
IWV iShares Russell 3000 ETF 33.2 20 10 6.9 -0.3
SCHB Schwab U.S. Broad Market ETF 33.2 3 27 7.0 -0.2
VTHR Vanguard Russell 3000 Index Fund 33.1 10 20 6.9 -0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 33.1 3 27 7.0 -0.2
FDLO Fidelity Low Volatility Factor ETF 33.1 29 1 6.5 -0.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 33.0 24 6 8.3 +1.2
VTI Vanguard Total Stock Market Index Fund 32.9 3 27 7.0 -0.2
TPLC Timothy Plan US Large Cap Core ETF 32.7 52 -22 7.3 +0.1
AVUS Avantis U.S. Equity ETF 32.6 15 15 8.0 +0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 32.6 28 2 8.0 +0.8
JDIV JPMorgan U.S. Dividend ETF 32.5 12 18 10.7 +3.5
SCHV Schwab U.S. Large-Cap Value ETF 32.5 4 26 9.0 +1.8
ESGU iShares MSCI USA ESG Optimized ETF 31.9 15 15 6.7 -0.5
DTD WisdomTree U.S.Total Dividend Fund 31.9 28 2 8.5 +1.3
IWR iShares Russell Midcap ETF 31.9 19 11 8.0 +0.8
CATH Global X S&P 500 Catholic Values Custom ETF 31.7 29 1 7.0 -0.2
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 31.7 20 10 10.4 +3.3
MGC Vanguard Mega Cap Index Fund 31.6 7 23 6.8 -0.4
DEF Invesco Defensive Equity ETF 31.6 55 -25 6.4 -0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 31.4 12 18 6.7 -0.5
EQAL Invesco Russell 1000 Equal Weight ETF 31.1 20 10 7.6 +0.4
EXT WisdomTree U.S. Total Earnings Fund 31.1 28 2 7.7 +0.5
SFY SoFi Select 500 ETF 30.9 0 30 6.7 -0.5
ONEO SPDR Russell 1000 Momentum Focus ETF 30.6 20 10 9.4 +2.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 30.5 15 15 6.9 -0.2
JQUA JPMorgan U.S. Quality Factor ETF 30.4 12 18 6.6 -0.6
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 30.4 15 15 8.9 +1.7
IWS iShares Russell Mid-Cap Value ETF 30.3 24 6 10.0 +2.8
MGV Vanguard Mega Cap Value ETF 30.3 7 23 8.8 +1.6
DGRO iShares Core Dividend Growth ETF 30.0 8 22 8.4 +1.2
SPXV ProShares S&P 500 Ex-Health Care ETF 30.0 27 3 6.8 -0.4
KRMA Global X Conscious Companies ETF 29.9 43 -13 7.3 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 29.8 20 10 6.6 -0.6

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 U.S. Equity ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.8 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.51
 
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.