Nationwide Risk-Based U.S. Equity ETF
ALTAR
Score™		 4.8% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 25.8x P/Sales
ratio		 2.2x
P/BV
ratio		 4.7x Div.
yield		 1.3%


  • 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) $115
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 251
Wgt avg mkt cap (mns) $68,488
Large cap (>$10bn) 97.5%
Mid cap ($2-10bn) 1.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MODERNA, INC. 2.3 %
ZOOM VIDEO COMMUNICATIONS, INC. CL 2.0 %
TIFFANY & CO 1.2 %
QIAGEN NV 1.0 %
KROGER CO 0.9 %
CLOROX COMPANY 0.7 %
DOMINO'S PIZZA INC 0.7 %
CLOUDFLARE INC CLASS A 0.7 %
CAMPBELL SOUP CO 0.6 %
YUM CHINA HOLDINGS, INC. 0.6 %
Total 10.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.1 %
IRELAND 2.7 %
BRITAIN 2.2 %
NETHERLANDS 1.4 %
CHINA 0.6 %
LUXEMBOURG 0.5 %
ITALY 0.4 %
ISRAEL 0.4 %
SWITZERLAND 0.4 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
12.7% 15.5% -- -- 12.6%

Market Correlations
versus... Beta R-squared
S&P500 0.86 91%
MSCI EAFE 0.82 82%
MSCI Emg. Mkts. 0.65 64%

Technical Indicators
Recent close $34.53
30d moving avg. $33.36
Annualized volatility 16.9%
Short interest (ETF) 0.2%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.0%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $114,842

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 4.8%


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 48.8 35 -5 5.2 +0.4
MXDU Nationwide Maximum Diversification US Core Equity ETF 45.6 34 -4 4.5 -0.3
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 44.7 35 -5 5.3 +0.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 44.5 35 -5 5.3 +0.5
JMIN JPMorgan U.S. Minimum Volatility ETF 44.1 12 18 5.4 +0.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 43.4 9 21 5.3 +0.5
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 43.2 17 13 6.4 +1.6
FEX First Trust Large Cap Core AlphaDEX Fund 41.8 60 -30 5.1 +0.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 40.7 9 21 5.0 +0.2
TPLC Timothy Plan US Large Cap Core ETF 39.3 52 -22 4.8 -0.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 38.3 18 12 5.8 +1.0
SPLV Invesco S&P 500 Low Volatility ETF 37.9 25 5 5.7 +0.9
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 37.4 17 13 6.1 +1.3
ROUS Hartford Multifactor US Equity ETF 37.2 19 11 6.2 +1.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 36.2 30 0 5.5 +0.7
JHML John Hancock Multifactor Large Cap ETF 36.2 29 1 5.1 +0.3
RNLC Large Cap US Equity Select ETF 35.9 60 -30 5.6 +0.8
RSP Invesco S&P 500 Equal Weight ETF 35.5 20 10 5.9 +1.1
AFLG First Trust Active Factor Large Cap ETF 35.1 55 -25 5.0 +0.2
EUSA iShares MSCI USA Equal Weighted ETF 35.0 15 15 5.6 +0.8
USMV iShares Edge MSCI Min Vol USA ETF 34.6 15 15 5.4 +0.6
BKMC BNY Mellon US Mid Cap Core Equity ETF 34.4 4 26 4.9 +0.1
JMOM JPMorgan U.S. Momentum Factor ETF 34.1 12 18 3.3 -1.5
FTC First Trust Large Cap Growth AlphaDEX Fund 34.1 61 -31 2.5 -2.4
USMF WisdomTree U.S. Multifactor Fund 34.1 28 2 5.7 +0.9
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 33.5 25 5 6.1 +1.3
SIZE iShares MSCI USA Size Factor ETF 33.4 15 15 5.6 +0.8
QUS SPDR MSCI USA StrategicFactors ETF 33.0 15 15 5.5 +0.7
FLQL Franklin LibertyQ U.S. Equity ETF 32.9 15 15 5.9 +1.1
SPXT ProShares S&P 500 Ex-Technology ETF 32.8 27 3 5.2 +0.4
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 32.5 20 10 7.2 +2.4
EXT WisdomTree U.S. Total Earnings Fund 32.4 28 2 5.3 +0.5
DEF Invesco Defensive Equity ETF 32.1 55 -25 5.1 +0.3
IWR iShares Russell Midcap ETF 32.0 19 11 5.1 +0.3
SFY SoFi Select 500 ETF 32.0 0 30 4.8 -0.0
VO Vanguard Mid-Cap Index Fund 31.9 4 26 4.8 0.0
KRMA Global X Conscious Companies ETF 31.7 43 -13 5.1 +0.3
ONEO SPDR Russell 1000 Momentum Focus ETF 31.7 20 10 6.0 +1.2
IWP iShares Russell Mid-Cap Growth ETF 31.6 24 6 2.9 -1.9
PBUS Invesco PureBeta MSCI USA ETF 31.4 4 26 4.9 +0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 31.4 7 23 4.8 -0.0
SCHX Schwab U.S. Large-Cap ETF 31.1 3 27 4.8 +0.0
HSPX Global X S&P 500 Covered Call ETF 31.0 60 -30 4.5 -0.3
VOOV Vanguard S&P 500 Value ETF 31.0 10 20 6.8 +2.0
JQUA JPMorgan U.S. Quality Factor ETF 31.0 12 18 5.2 +0.4
IWB iShares Russell 1000 ETF 30.9 15 15 4.7 -0.1
PBP Invesco S&P 500 BuyWrite ETF 30.9 49 -19 4.6 -0.2
VV Vanguard Large-Cap Index Fund 30.8 4 26 4.8 -0.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 30.7 20 10 5.0 +0.2
ESGV Vanguard ESG U.S. Stock ETF 30.6 12 18 4.7 -0.1
XYLG Global X S&P 500 Covered Call & Growth ETF 30.6 60 -30 4.7 -0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 30.6 2 28 4.9 +0.1
IYY iShares Dow Jones U.S. ETF 30.6 20 10 4.7 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 30.4 27 3 4.7 -0.1
SCHK Schwab 1000 Index ETF 30.4 5 25 4.8 +0.0
DFAU Dimensional US Core Equity Market ETF 30.4 12 18 5.0 +0.2
IVV iShares Core S&P 500 ETF 30.4 3 27 5.0 +0.2
SPLG SPDR Portfolio Large Cap ETF 30.3 3 27 5.1 +0.3
SPY SPDR S&P 500 ETF Trust 30.3 9 21 5.0 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 30.3 27 3 4.9 +0.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 30.3 29 1 5.3 +0.5
VTHR Vanguard Russell 3000 Index Fund 30.2 10 20 4.7 -0.2
ESGU iShares MSCI USA ESG Optimized ETF 30.2 15 15 4.7 -0.1
VOO VANGUARD S&P 500 ETF 30.1 3 27 5.0 +0.2
SPYV SPDR Portfolio S&P 500 Value ETF 30.0 4 26 6.8 +2.0
IVE iShares S&P 500 Value ETF 29.9 18 12 6.7 +1.9
IWV iShares Russell 3000 ETF 29.7 20 10 4.6 -0.2
SCHB Schwab U.S. Broad Market ETF 29.6 3 27 4.7 -0.1
SCHV Schwab U.S. Large-Cap Value ETF 29.5 4 26 6.4 +1.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 29.5 3 27 4.7 -0.1
LSLT Salt Low truBeta US Market ETF 29.4 60 -30 5.7 +0.9
GBLO Global Beta Low Beta ETF 29.2 29 1 7.2 +2.4
SPTM SPDR Portfolio Total Stock Market ETF 29.2 3 27 5.1 +0.3
VONE Vanguard Russell 1000 ETF 29.1 8 22 4.8 -0.0
IUSV iShares Core S&P U.S. Value ETF 29.1 4 26 6.9 +2.1
VTI Vanguard Total Stock Market Index Fund 29.0 3 27 4.7 -0.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 28.7 24 6 5.7 +0.9
CATH Global X S&P 500 Catholic Values Custom ETF 28.6 29 1 4.8 0.0
EPS WisdomTree U.S. Earnings 500 Fund 28.0 8 22 6.0 +1.2
ONEV SPDR Russell 1000 Low Volatility Focus ETF 27.9 20 10 6.5 +1.7
VONV Vanguard Russell 1000 Value Index Fund 27.7 8 22 6.4 +1.6
PRF Invesco FTSE RAFI US 1000 ETF 27.6 39 -9 6.2 +1.4
IWD iShares Russell 1000 Value ETF 27.3 19 11 6.3 +1.5
PSET Principal Price Setters Index ETF 27.3 15 15 4.7 -0.1
IUS Invesco Strategic US ETF 27.3 19 11 5.8 +1.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 27.2 25 5 6.1 +1.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 26.9 12 18 4.2 -0.6
MGC Vanguard Mega Cap Index Fund 26.9 7 23 4.8 -0.0
AVUS Avantis U.S. Equity ETF 26.8 15 15 5.2 +0.4
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 26.8 29 1 6.3 +1.5
FVL First Trust Value Line 100 Exchange-Traded Fund 26.6 70 -40 4.8 -0.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 26.6 75 -45 2.7 -2.1
RWL Invesco S&P 500 Revenue ETF 26.5 39 -9 6.6 +1.8
JKH iShares Morningstar Mid-Cap Growth ETF 26.4 30 0 1.9 -2.9
FVD First Trust Value Line Dividend Index Fund 26.4 70 -40 6.0 +1.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 26.3 25 5 6.1 +1.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 26.2 20 10 4.6 -0.2
VTV Vanguard Value Index Fund 26.2 4 26 6.8 +2.0
BFOR Barron's 400 ETF 26.0 65 -35 6.3 +1.5

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 21.1 %
Divided by: Fwd. P/BV 4.1 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.56 CATEGORY
AVERAGE		 1.50
 
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.