ProShares S&P MidCap 400 Dividend Aristocrats
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.0x P/Sales
ratio
1.8x
P/BV
ratio
2.5x Div.
yield
2.7%


  • 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) $750
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 51
Wgt avg mkt cap (mns) $6,015
Large cap (>$10bn) 4.4%
Mid cap ($2-10bn) 90.4%
Small cap (<$2bn) 5.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LANCASTER COLONY CORP 2.2 %
MSA SAFETY INC 2.2 %
NVENT ELECTRIC PLC 2.1 %
WEST PHARMACEUTICAL SERVICES 2.1 %
EATON VANCE CORP 2.1 %
HEALTHCARE SERVICES GROUP 2.1 %
RPM INTERNATIONAL INC 2.1 %
CDK GLOBAL INC 2.1 %
NORDSON CORP 2.1 %
SEI INVESTMENTS COMPANY 2.1 %
Total 21.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
BRITAIN 2.1 %
BERMUDA 1.9 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
15.7% 11.2% -- -- 9.9%

Market Correlations
versus... Beta R-squared
S&P500 0.82 73%
MSCI EAFE 0.63 36%
MSCI Emg. Mkts. 0.37 20%

Technical Indicators
Recent close $59.03
30d moving avg. $58.81
Annualized volatility 11.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 48
Turnover 0.4%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $1,643

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ProShares S&P MidCap 400 Dividend Aristocrats 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™: 5.7%


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 31.5 25 15 5.4 -0.3
SDY SPDR S&P Dividend ETF 27.9 35 5 6.4 +0.7
XMMO Invesco S&P MidCap Momentum 24.6 39 1 3.8 -1.9
EQWM Invesco Fundamental Pure Mid Core 22.9 25 15 5.9 +0.2
TMDV ProShares Russell US Dividend Growers 19.6 35 5 5.0 -0.7
OUSM O'Shares FTSE Russell Small Cap Quality Dividend 18.8 48 -8 6.7 +1.0
SMDV ProShares Russell 2000 Dividend Growers 17.5 40 0 5.6 -0.1
KLCD KFA Large Cap Quality Dividend Index 17.1 41 -1 5.0 -0.7
MDYG SPDR S&P400 Mid Cap Growth 17.0 15 25 5.1 -0.6
IJK iShares S&P MidCap 400 Growth 17.0 24 16 5.0 -0.7
IVOG Vanguard S&P Mid-Cap 400 Growth 16.9 20 20 5.0 -0.6
IJH iShares Core S&P MidCap 16.2 7 33 6.4 +0.7
MDY S&P MidCap 400 SPDR 16.2 24 16 6.2 +0.5
IVOO Vanguard S&P Mid-Cap 400 16.0 15 25 6.3 +0.6
MDYV SPDR S&P400 Mid Cap Value 15.3 15 25 7.6 +2.0
IJJ iShares S&P MidCap 400 Value 15.3 25 15 7.5 +1.9
IVOV Vanguard S&P Mid-Cap 400 Value 15.1 20 20 7.7 +2.0
VSDA VictoryShares Dividend Accelerator 15.0 35 5 4.8 -0.9
KSCD KFA Small Cap Quality Dividend Index 13.6 51 -11 4.8 -0.9
EWMC Invesco S&P Mid Cap 400 Equal Weight 12.6 40 0 6.8 +1.1

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:
ProShares S&P MidCap 400 Dividend Aristocrats
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 14.0 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.82 CATEGORY
AVERAGE
1.55
 
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.