Hartford Multifactor REIT
ALTAR
Score™
13.0% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
10.1x P/Sales
ratio
3.5x
P/BV
ratio
1.7x Div.
yield
5.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Lattice Real Estate Strategy ETF tracks an index of U.S. REITS across multiple property types. The strategy utilizes a proprietary factor-based model, including quality, momentum, and value factors.

FUND BASICS
Category US Equities
Fund Sponsor Lattice Strategies
Website www.latticestrategies.com
Inception date Oct 03, 2016
Assets (mns) $16
Currency USD
Expense ratio 45 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 56
Wgt avg mkt cap (mns) $7,203
Large cap (>$10bn) 19.3%
Mid cap ($2-10bn) 54.6%
Small cap (<$2bn) 26.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CBL & ASSOCIATES PROPERTIES 3.6 %
WASHINGTON PRIME GROUP INC. 2.6 %
RAMCO-GERSHENSON PROPERTIES 2.3 %
BRIXMOR PROPERTY GROUP INC 2.3 %
WEINGARTEN REALTY INVESTORS 2.3 %
RYMAN HOSPITALITY PROPERTIES 2.2 %
TANGER FACTORY OUTLET CENTER 2.2 %
PIEDMONT OFFICE REALTY TRUST, INC. 2.2 %
SUMMIT HOTEL PROPERTIES INC 2.1 %
VICI PROPERTIES INC 2.1 %
Total 23.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %










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.
27.0% 19.4% -- -- 10.4%

Market Correlations
versus... Beta R-squared
S&P500 0.53 25%
MSCI EAFE 0.37 10%
MSCI Emg. Mkts. 0.15 3%

Technical Indicators
Recent close $16.46
30d moving avg. $16.56
Annualized volatility 13.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.3%
Bid/Ask (% of price) 0.35%
ADV underlying (mns) $2,454

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the Hartford Multifactor REIT ETF based on the alternatives' overlap in portfolio holdings with RORE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RORE Expense: 45 bp ALTAR Score™: 13.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RORE
Ticker Fund
Name
Overlap1
vs RORE
(%)
Expense
ratio
(bp)
Savings
vs RORE
(bp)
ALTAR
Score™
(%)
ALTAR
vs RORE
(%)
PPTY PPTY-U.S. Diversified Real Estate 33.2 53 -8 5.3 -7.7
FRI First Trust S&P REIT 33.0 50 -5 6.0 -6.9
USRT iShares Core. U.S. REIT 32.7 8 37 6.5 -6.5
BBRE JPMorgan BetaBuilders MSCI U.S. REIT 32.7 11 34 6.4 -6.6
RWR SPDR Dow Jones REIT ETF 30.7 25 20 6.3 -6.7
SCHH Schwab US REIT 30.6 7 38 6.5 -6.5
PSR Invesco Active US Real Estate 29.9 35 10 5.5 -7.5
FREL Fidelity MSCI Real Estate 27.7 8 37 6.1 -6.9
IYR iShares U.S. Real Estate 26.0 42 3 5.8 -7.2
VNQ Vanguard REIT ETF 24.6 12 33 6.1 -6.9
REET iShares Global REIT 23.5 14 31 6.2 -6.7
NURE NuShares Short-Term REIT 23.3 35 10 6.6 -6.4
REZ iShares Residential Real Estate Capped 23.1 48 -3 5.1 -7.9
ROOF IQ US Real Estate Small Cap 21.6 70 -25 8.5 -4.5
RWO SPDR DJ Global Real Estate 20.9 50 -5 6.0 -7.0
FFR First Trust FTSE EPRA/NAREIT Global Real Estate 20.2 60 -15 6.2 -6.8
EWRE Invesco S&P 500 Equal Weight Real Estate 20.0 40 5 5.6 -7.4
XLRE Real Estate Select Sector SPDR 18.0 13 32 5.3 -7.6
GQRE FlexShares Global Quality Real Estate 17.7 45 0 6.5 -6.5

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

  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

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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:
Hartford Multifactor REIT
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 21.6 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 13.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.71 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.