ProShares S&P MidCap 400 Dividend Aristocrats ETF
ALTAR
Score™
7.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
13.9x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The S&P MidCap 400 Dividend Aristocrats ETF tracks an equal-weighted index of midcap companies that have increased their dividends for at least 15-consecutive years.

FUND BASICS
Category US Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Feb 05, 2015
Assets (mns) $564
Currency USD
Expense ratio 40 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 53
Wgt avg mkt cap (mns) $4,713
Large cap (>$10bn) 5.0%
Mid cap ($2-10bn) 84.2%
Small cap (<$2bn) 10.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TOOTSIE ROLL INDS 2.8 %
WEST PHARMACEUTICAL SERVICES 2.6 %
FLOWERS FOODS INC 2.5 %
FACTSET RESEARCH SYSTEMS INC 2.4 %
SILGAN HOLDINGS INC 2.4 %
RLI CORP 2.3 %
SPIRE, INC. 2.3 %
ONE GAS INC 2.3 %
GRACO INC 2.3 %
APTARGROUP INC 2.2 %
Total 24.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
BERMUDA 2.0 %
BRITAIN 1.7 %








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.
-24.6% -18.0% 3.7% -- 3.6%

Market Correlations
versus... Beta R-squared
S&P500 0.92 85%
MSCI EAFE 0.85 72%
MSCI Emg. Mkts. 0.62 55%

Technical Indicators
Recent close $44.94
30d moving avg. $48.04
Annualized volatility 15.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 216
Turnover 1.7%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $2,365

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the ProShares S&P MidCap 400 Dividend Aristocrats ETF ETF based on the alternatives' overlap in portfolio holdings with REGL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: REGL Expense: 40 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH REGL
Ticker Fund
Name
Overlap1
vs REGL
(%)
Expense
ratio
(bp)
Savings
vs REGL
(bp)
ALTAR
Score™
(%)
ALTAR
vs REGL
(%)
XMLV Invesco S&P MidCap Low Volatility ETF 32.8 25 15 7.8 +0.2
EQWM Invesco S&P MidCap Quality ETF 26.8 25 15 6.5 -1.1
XMMO Invesco S&P MidCap Momentum ETF 25.5 39 1 5.0 -2.7
SDY SPDR S&P Dividend ETF 24.9 35 5 7.7 +0.1
TMDV ProShares Russell US Dividend Growers ETF 21.5 35 5 6.2 -1.4
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 21.3 48 -8 8.5 +0.8
SMDV ProShares Russell 2000 Dividend Growers ETF 19.0 40 0 8.0 +0.4
MDYG SPDR S&P 400 Mid Cap Growth ETF 18.3 15 25 6.4 -1.2
IJK iShares S&P Mid-Cap 400 Growth ETF 18.3 24 16 6.3 -1.3
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 18.3 15 25 6.4 -1.3
MDY SPDR S&P Midcap 400 ETF Trust 17.7 23 17 8.5 +0.8
KLCD KFA Large Cap Quality Dividend Index ETF 17.7 41 -1 6.3 -1.3
SPMD SPDR Portfolio Mid Cap ETF 17.6 5 35 8.6 +1.0
IJH iShares Core S&P Mid-Cap ETF 17.6 6 34 8.6 +1.0
IVOO Vanguard S&P Mid-Cap 400 ETF 17.6 10 30 8.6 +1.0
IJJ iShares S&P Mid-Cap 400 Value ETF 16.8 25 15 11.4 +3.8
MDYV SPDR S&P 400 Mid Cap Value ETF 16.7 15 25 11.5 +3.9
IVOV Vanguard S&P Mid-Cap 400 Value ETF 16.6 15 25 11.6 +4.0
VSDA VictoryShares Dividend Accelerator ETF 14.8 35 5 5.5 -2.2
EWMC Invesco S&P MidCap 400 Equal Weight ETF 14.7 40 0 9.2 +1.6
PEY Invesco High Yield Equity Dividend Achievers ETF 13.4 53 -13 9.5 +1.8
SMDY Syntax Stratified MidCap ETF 13.2 30 10 8.6 +1.0
PXMV Invesco S&P MidCap Value with Momentum ETF 12.6 39 1 13.0 +5.4
OSCV Opus Small Cap Value Plus ETF 12.3 79 -39 7.8 +0.2
RWK Invesco S&P MidCap 400 Revenue ETF 12.0 39 1 11.1 +3.5
VBR Vanguard Small Cap Value Index Fund 11.9 7 33 11.4 +3.7
DON WisdomTree U.S. MidCap Dividend Fund 11.6 38 2 10.4 +2.7
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 11.3 60 -20 12.0 +4.4
KSCD KFA Small Cap Quality Dividend Index ETF 11.2 51 -11 7.1 -0.5
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 11.1 63 -23 9.0 +1.4
RNMC Mid Cap US Equity Select ETF 10.6 60 -20 9.5 +1.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 10.0 20 20 7.4 -0.2
KBWR Invesco KBW Regional Banking ETF 10.0 35 5 14.5 +6.9
AFMC First Trust Active Factor Mid Cap ETF 9.9 65 -25 9.2 +1.5
FNK First Trust Mid Cap Value AlphaDEX Fund 9.9 70 -30 15.0 +7.4
RFG Invesco S&P Midcap 400 Pure Growth ETF 9.5 35 5 5.6 -2.0
JKL iShares Morningstar Small Cap Value ETF 9.4 30 10 14.2 +6.5
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 9.0 20 20 9.7 +2.1
SFYX Sofi Next 500 ETF 8.9 0 40 7.7 +0.1
FXZ First Trust Materials AlphaDEX Fund 8.6 65 -25 9.8 +2.2
TPYP Tortoise North American Pipeline Fund 8.6 40 0 8.0 +0.3
SCHM Schwab U.S. Mid-Cap ETF 8.4 4 36 8.5 +0.9
FNX First Trust Mid Cap Core AlphaDEX Fund 8.2 61 -21 9.6 +2.0
KIE SPDR S&P Insurance ETF 8.2 35 5 11.3 +3.7
EZM WisdomTree U.S. MidCap Earnings Fund 8.0 38 2 13.0 +5.4
PSL Invesco DWA Consumer Staples Momentum ETF 8.0 60 -20 4.6 -3.0
VB Vanguard Small-Cap ETF 7.8 5 35 7.6 -0.0
KRE SPDR S&P Regional Banking ETF 7.5 35 5 15.1 +7.5
KBE SPDR S&P Bank ETF 7.5 35 5 15.0 +7.3
FSMD Fidelity Small-Mid Factor ETF 7.3 29 11 9.4 +1.7
FXO First Trust Financials AlphaDEX Fund 7.2 63 -23 13.2 +5.6
RFV Invesco S&P Midcap 400 Pure Value ETF 7.0 35 5 15.5 +7.9
TPLC Timothy Plan US Large Cap Core ETF 6.9 52 -12 6.9 -0.7
CWS AdvisorShares Focused Equity ETF 6.9 85 -45 6.5 -1.2
IFRA iShares U.S. Infrastructure ETF 6.7 40 0 7.3 -0.3
ONEV SPDR Russell 1000 Low Volatility Focus ETF 6.6 20 20 9.0 +1.4
JHMA John Hancock Multifactor Materials ETF 6.5 40 0 8.9 +1.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 6.5 24 16 7.9 +0.3
IUSS Invesco Strategic US Small Company ETF 6.4 23 17 8.4 +0.8
GARD Reality Shares DIVCON Dividend Guard ETF 6.4 129 -89 4.4 -3.2
KBWP Invesco KBW Property & Casualty Insurance ETF 6.3 35 5 8.3 +0.7
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 6.2 17 23 6.8 -0.8
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 6.2 30 10 8.0 +0.4
QABA First Trust NASDAQ ABA Community Bank Index Fund 6.1 60 -20 12.8 +5.2
JHSC John Hancock Multifactor Small Cap ETF 6.1 50 -10 8.2 +0.6
VXF Vanguard Extended Market Index Fund 6.1 7 33 5.5 -2.1
NUSC Nuveen ESG Small-Cap ETF 6.0 40 0 7.1 -0.6
LEAD Reality Shares DIVCON Leaders Dividend ETF 6.0 43 -3 5.3 -2.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 6.0 6 34 7.4 -0.2
IAT iShares U.S. Regional Banks ETF 5.9 42 -2 14.5 +6.8
FXG First Trust Consumer Staples AlphaDEX Fund 5.8 64 -24 8.3 +0.6
FNY First Trust Mid Cap Growth AlphaDEX Fund 5.8 70 -30 4.2 -3.4
KCE SPDR S&P Capital Markets ETF 5.8 35 5 10.0 +2.4
FVL First Trust Value Line 100 Exchange-Traded Fund 5.8 70 -30 5.2 -2.4
PEXL Pacer US Export Leaders ETF 5.7 60 -20 8.4 +0.8
JDIV JPMorgan U.S. Dividend ETF 5.5 12 28 10.2 +2.6
VFLQ Vanguard U.S. Liquidity Factor ETF 5.5 13 27 5.1 -2.5
SMMD iShares Russell 2500 ETF 5.4 15 25 7.6 -0.0
PUI Invesco DWA Utilities Momentum ETF 5.4 60 -20 4.8 -2.8
FNDA Schwab Fundamental U.S. Small Co. Index ETF 5.3 25 15 9.1 +1.4
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 5.3 35 5 7.2 -0.5
PAVE Global X U.S. Infrastructure Development ETF 5.2 47 -7 7.8 +0.2
FVD First Trust Value Line Dividend Index Fund 5.1 70 -30 7.7 +0.0
CZA Invesco Zacks Mid-Cap ETF 5.0 76 -36 8.7 +1.1
PMOM Principal Sustainable Momentum Index ETF 5.0 29 11 6.6 -1.1
ETHO Etho Climate Leadership U.S. ETF 5.0 47 -7 6.3 -1.3
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 4.9 25 15 9.5 +1.9
JHMM John Hancock Multifactor Mid Cap ETF 4.9 44 -4 7.8 +0.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 4.8 29 11 8.7 +1.1
JMIN JPMorgan U.S. Minimum Volatility ETF 4.8 12 28 6.9 -0.8
LGLV SPDR Russell 1000 Low Volatility ETF 4.7 12 28 6.6 -1.0
FXU First Trust Utilities AlphaDEX Fund 4.6 63 -23 6.6 -1.1
NUMG Nuveen ESG Mid-Cap Growth ETF 4.5 40 0 4.3 -3.4
IDU iShares U.S. Utilities ETF 4.4 43 -3 5.8 -1.8
VPU Vanguard Utilities Index Fund 4.4 10 30 6.0 -1.6
ONEY SPDR Russell 1000 Yield Focus ETF 4.4 20 20 11.4 +3.8
EQAL Invesco Russell 1000 Equal Weight ETF 4.4 20 20 7.1 -0.5
JHMU John Hancock Multifactor Utilities ETF 4.4 40 0 6.3 -1.3
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 4.3 35 5 8.6 +1.0
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 4.3 17 23 8.5 +0.9

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:
ProShares S&P MidCap 400 Dividend Aristocrats 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 12.7 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.76 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.