Hartford Multifactor REIT ETF
ALTAR
Score™
14.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
10.6x P/Sales
ratio
3.4x
P/BV
ratio
1.3x Div.
yield
4.7%


  • 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) $4
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 53
Wgt avg mkt cap (mns) $6,931
Large cap (>$10bn) 20.1%
Mid cap ($2-10bn) 46.1%
Small cap (<$2bn) 33.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
QTS REALTY TRUST INC-CL A 3.0 %
CORESITE REALTY CORP 3.0 %
EQUINIX INC 2.9 %
DIGITAL REALTY TRUST INC 2.9 %
INVESTORS REAL ESTATE TRUST 2.5 %
FIRST INDUSTRIAL REALTY TR 2.4 %
GETTY REALTY CORP 2.4 %
CORPORATE OFFICE PROPERTIES 2.4 %
GLADSTONE COMMERCIAL CORP 2.4 %
EXTRA SPACE STORAGE INC 2.3 %
Total 26.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.5 %
CANADA 0.4 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-26.3% -19.8% -- -- -0.8%

Market Correlations
versus... Beta R-squared
S&P500 0.90 52%
MSCI EAFE 0.94 49%
MSCI Emg. Mkts. 0.68 39%

Technical Indicators
Recent close $13.00
30d moving avg. $11.55
Annualized volatility 21.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.43%
ADV underlying (mns) $3,813

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Hartford Multifactor REIT ETF 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™: 14.6%


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
(%)
GRI ALPS REIT Dividend Dogs ETF 35.0 35 10 14.5 -0.1
PPTY PPTY-U.S. Diversified Real Estate ETF 34.2 53 -8 6.3 -8.3
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 31.9 11 34 7.3 -7.3
FRI First Trust S&P REIT Index Fund 31.8 50 -5 6.9 -7.7
USRT iShares Core U.S. REIT ETF 31.4 8 37 7.3 -7.3
SCHH Schwab U.S. REIT ETF 30.3 7 38 7.4 -7.2
RWR SPDR Dow Jones REIT ETF 29.5 25 20 7.3 -7.3
PSR Invesco Active U.S. Real Estate Fund 27.1 35 10 6.1 -8.5
FREL Fidelity MSCI Real Estate Index ETF 25.6 8 37 6.5 -8.1
ROOF IQ US Real Estate Small Cap ETF 25.4 70 -25 10.2 -4.4
NURE Nuveen Short-Term REIT ETF 24.1 35 10 7.4 -7.2
IYR iShares U.S. Real Estate ETF 23.7 42 3 6.4 -8.2
VNQ Vanguard REIT Index Fund 23.1 12 33 6.5 -8.1
REZ iShares Residential Real Estate Capped ETF 23.1 48 -3 6.1 -8.5
REET iShares Global REIT ETF 21.7 14 31 7.3 -7.3
ICF iShares Cohen & Steers REIT ETF 20.4 34 11 5.9 -8.7
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 19.6 39 6 6.1 -8.5
RWO SPDR Dow Jones Global Real Estate ETF 19.3 50 -5 7.0 -7.6
GQRE FlexShares Global Quality Real Estate Index Fund 18.8 45 0 7.5 -7.1
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 18.7 40 5 6.9 -7.7
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 18.5 60 -15 7.1 -7.5
VRAI Virtus Real Asset Income ETF 17.7 55 -10 10.6 -4.0
NETL NETLease Corporate Real Estate ETF 17.5 60 -15 7.9 -6.7
XLRE The Real Estate Select Sector SPDR Fund 16.2 13 32 5.5 -9.1
RTL Pacer Benchmark Retail Real Estate SCTR ETF 14.0 60 -15 12.8 -1.8
KBWY Invesco KBW Premium Yield Equity REIT ETF 13.4 35 10 19.0 +4.4
HOMZ Hoya Capital Housing ETF 13.2 45 0 6.8 -7.8
PSCF Invesco S&P SmallCap Financials ETF 13.2 29 16 11.0 -3.6
SRET Global X SuperDividend REIT ETF 13.1 59 -14 13.0 -1.6
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 11.8 60 -15 5.3 -9.3
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 11.8 60 -15 2.5 -12.1
INDS Pacer Benchmark Industrial Real Estate SCTR ETF 11.5 60 -15 4.1 -10.5
OLD The Long-Term Care ETF 9.3 35 10 6.2 -8.4
JKG iShares Morningstar Mid-Cap ETF 8.0 25 20 5.9 -8.7
LGLV SPDR Russell 1000 Low Volatility ETF 6.9 12 33 5.5 -9.1
PFI Invesco DWA Financial Momentum ETF 6.4 60 -15 3.6 -11.0
NXTG First Trust Indxx NextG ETF 6.4 70 -25 6.1 -8.5
IYF iShares U.S. Financials ETF 6.2 42 3 6.7 -7.9
DON WisdomTree U.S. MidCap Dividend Fund 5.9 38 7 7.4 -7.2
CZA Invesco Zacks Mid-Cap ETF 5.9 76 -31 5.9 -8.7
XMMO Invesco S&P MidCap Momentum ETF 5.3 39 6 4.3 -10.3
FIVG Defiance Next Gen Connectivity ETF 5.3 30 15 4.6 -10.0
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 5.1 20 25 7.5 -7.1
PXSG Invesco S&P SmallCap Momentum ETF 4.9 39 6 5.0 -9.6
XMLV Invesco S&P MidCap Low Volatility ETF 4.8 25 20 5.3 -9.3
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 4.8 35 10 5.7 -8.9
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 4.7 12 33 7.7 -6.9
BJK VanEck Vectors Gaming ETF 4.7 66 -21 5.3 -9.3
JKJ iShares Morningstar Small-Cap ETF 4.6 25 20 6.3 -8.3
NUMV Nuveen ESG Mid-Cap Value ETF 4.5 40 5 8.3 -6.3
XSLV Invesco S&P SmallCap Low Volatility ETF 4.3 25 20 5.7 -8.9
SPYD SPDR S&P 500 High Dividend ETF 4.3 7 38 9.9 -4.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 4.2 20 25 6.0 -8.6
LVHD Legg Mason Low Volatility High Dividend ETF 4.2 27 18 8.4 -6.2
VBR Vanguard Small Cap Value Index Fund 4.1 7 38 8.1 -6.5
VOT Vanguard Mid-Cap Growth Index Fund 4.1 7 38 3.6 -11.0
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 4.1 35 10 6.1 -8.5
IWS iShares Russell Mid-Cap Value ETF 4.0 24 21 6.9 -7.7
CLOU Global X Cloud Computing ETF 4.0 68 -23 0.8 -13.8
AUSF Global X Adaptive U.S. Factor ETF 3.9 27 18 7.8 -6.8
JHSC John Hancock Multifactor Small Cap ETF 3.8 50 -5 5.7 -8.9
DHS WisdomTree U.S. High Dividend Fund 3.8 38 7 8.2 -6.4
DES WisdomTree U.S. SmallCap Dividend Fund 3.8 38 7 8.2 -6.4
OSCV Opus Small Cap Value Plus ETF 3.8 79 -34 5.6 -9.0
FCTR First Trust Lunt U.S. Factor Rotation ETF 3.7 65 -20 4.8 -9.8
AFMC First Trust Active Factor Mid Cap ETF 3.7 65 -20 6.0 -8.6
MDYG SPDR S&P 400 Mid Cap Growth ETF 3.6 15 30 4.8 -9.8
IJK iShares S&P Mid-Cap 400 Growth ETF 3.6 24 21 4.7 -9.9
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 3.5 60 -15 3.5 -11.1
IJS iShares S&P Small-cap 600 Value ETF 3.5 25 20 8.5 -6.1
SLYV SPDR S&P 600 Small Cap Value ETF 3.5 15 30 8.6 -6.0
FSMD Fidelity Small-Mid Factor ETF 3.5 29 16 6.8 -7.8
VIOV Vanguard S&P Small-Cap 600 Value ETF 3.5 15 30 8.5 -6.1
CVY Invesco Zacks Multi-Asset Income ETF 3.5 97 -52 11.8 -2.8
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 3.4 15 30 4.6 -10.0
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 3.4 30 15 7.4 -7.2
DTN WisdomTree U.S. Dividend ex-Financials Fund 3.3 38 7 7.7 -6.9
MDY SPDR S&P Midcap 400 ETF Trust 3.3 23 22 6.1 -8.5
SPMD SPDR Portfolio Mid Cap ETF 3.3 5 40 6.2 -8.4
IJH iShares Core S&P Mid-Cap ETF 3.3 6 39 6.2 -8.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 3.3 24 21 7.5 -7.1
VALQ American Century STOXX U.S. Quality Value ETF 3.3 29 16 8.6 -6.0
IWN iShares Russell 2000 Value ETF 3.3 24 21 6.9 -7.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 3.3 25 20 6.2 -8.4
SCHM Schwab U.S. Mid-Cap ETF 3.2 4 41 6.2 -8.4
VTWV Vanguard Russell 2000 Value Index Fund 3.2 15 30 7.0 -7.6
IVOO Vanguard S&P Mid-Cap 400 ETF 3.2 10 35 6.1 -8.5
ONEY SPDR Russell 1000 Yield Focus ETF 3.1 20 25 8.0 -6.6
VB Vanguard Small-Cap ETF 3.1 5 40 5.4 -9.2
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 3.1 30 15 9.1 -5.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 3.0 70 -25 2.1 -12.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 3.0 40 5 6.5 -8.1
JDIV JPMorgan U.S. Dividend ETF 3.0 12 33 7.7 -6.9
MDYV SPDR S&P 400 Mid Cap Value ETF 3.0 15 30 8.0 -6.6
IJJ iShares S&P Mid-Cap 400 Value ETF 3.0 25 20 7.9 -6.7
IVOV Vanguard S&P Mid-Cap 400 Value ETF 3.0 15 30 8.1 -6.5
SLY SPDR S&P 600 Small Cap ETF 3.0 15 30 6.7 -7.9
IJR iShares Core S&P Small Cap ETF 2.9 7 38 6.7 -7.9
SPSM SPDR Portfolio Small Cap ETF 2.9 5 40 6.8 -7.8
QLV FlexShares US Quality Low Volatility Index Fund 2.9 22 23 5.1 -9.5

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:
Hartford Multifactor REIT ETF
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 19.2 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 14.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.71 CATEGORY
AVERAGE
1.53
 
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.