Nationwide Risk-Based U.S. Equity
ALTAR
Score™
6.1% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
17.9x P/Sales
ratio
1.5x
P/BV
ratio
2.7x Div.
yield
2.1%


  • 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) $120
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 249
Wgt avg mkt cap (mns) $53,848
Large cap (>$10bn) 93.4%
Mid cap ($2-10bn) 6.6%
Small cap (<$2bn) 0.0%
Developed mkts 99.5%
Emerging mkts 0.5%

TOP TEN HOLDINGS
NEWMONT MINING CORP 3.5 %
WESTAR ENERGY INC 0.8 %
AUTOZONE INC 0.7 %
SOUTHERN CO 0.7 %
CBOE HOLDINGS INC 0.6 %
AMERICAN ELECTRIC POWER 0.6 %
DOMINION RESOURCES INC/VA 0.6 %
LAMB WESTON HOLDINGS, INC. 0.6 %
PPL CORPORATION 0.6 %
NEXTERA ENERGY GROUP 0.6 %
Total 9.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.0 %
IRELAND 2.2 %
BRITAIN 1.5 %
BERMUDA 0.8 %
SWITZERLAND 0.7 %
PERU 0.5 %
ISRAEL 0.4 %
CHINA 0.3 %



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.
25.0% 14.8% -- -- 11.2%

Market Correlations
versus... Beta R-squared
S&P500 0.73 88%
MSCI EAFE 0.76 71%
MSCI Emg. Mkts. 0.51 49%

Technical Indicators
Recent close $30.47
30d moving avg. $30.13
Annualized volatility 11.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $65,271

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Nationwide Risk-Based U.S. Equity 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™: 6.1%


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 55.2 12 18 5.6 -0.5
SCIU Global X Scientific Beta US 51.4 19 11 5.7 -0.4
JPUS JPMorgan Diversified Return U.S. Equity 50.7 19 11 6.3 +0.2
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 46.3 9 21 6.0 -0.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core 45.2 17 13 7.0 +0.9
RNLC Large Cap US Equity Select 44.3 60 -30 6.3 +0.3
CFO Victory CEMP US 500 Enhanced Volatility Wtd 44.3 35 -5 6.1 0.0
CFA Compass EMP US 500 Volatility Weighted 44.3 35 -5 6.1 -0.0
USMV iShares MSCI USA Minimum Volatility 44.0 15 15 5.2 -0.9
RSP Invesco S&P 500 Equal Weight 43.9 20 10 6.8 +0.7
FEX First Trust Large Cap Core Alphadex 42.8 61 -31 6.4 +0.3
USLB Invesco Russell 1000 Low Beta Equal Weight 41.6 35 -5 5.8 -0.3
MXDU Nationwide Maximum Diversification US Core Equity 41.6 34 -4 5.6 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity 41.5 9 21 6.1 +0.0
DEUS Xtrackers Russell 1000 Comprehensive Factor 40.7 17 13 6.4 +0.3
JHML John Hancock Multifactor Large Cap 40.5 34 -4 6.0 -0.1
QUS SPDR MSCI USA Quality Mix 40.3 15 15 6.0 -0.1
DYNF BlackRock U.S. Equity Factor Rotation 40.1 30 0 6.5 +0.4
SPXT ProShares S&P 500 Ex-Technology 38.3 27 3 6.0 -0.1
SIZE iShares MSCI USA Size Factor 37.5 15 15 6.3 +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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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
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 15.3 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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