6 Meridian Hedged Equity-Index Option Strategy ETF
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2022E    2023E
P/E
ratio
13.6x P/Sales
ratio
2.0x
P/BV
ratio
2.8x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SIXH is an actively managed fund that provides exposure to US equities and sellscall options against SPY.

FUND BASICS
Category US Equities
Fund Sponsor Exchange Traded Concepts
Website www.6meridianfunds.com/sixh
Inception date May 11, 2020
Assets (mns) $351
Currency USD
Expense ratio 87 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $300,943
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ALTRIA GROUP INC 4.0 %
PHILIP MORRIS INTERNATIONAL 3.9 %
CONOCOPHILLIPS 3.7 %
ABBVIE INC 3.4 %
DOW, INC. 3.0 %
CITIGROUP INC 2.8 %
US BANCORP 2.8 %
AT&T INC 2.7 %
EXXON MOBIL CORP 2.7 %
VERIZON COMMUNICATIONS INC 2.6 %
Total 31.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
IRELAND 1.4 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.7% 8.5% -- -- 11.8%

Market Correlations
versus... Beta R-squared
S&P500 0.52 60%
MSCI EAFE 0.52 60%
MSCI Emg. Mkts. 0.30 19%

Technical Indicators
Recent close $32.11
30d moving avg. $32.51
Annualized volatility 15.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.1%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $81,800

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 31 potential alternatives to the 6 Meridian Hedged Equity-Index Option Strategy ETF ETF based on the alternatives' overlap in portfolio holdings with SIXH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SIXH Expense: 87 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SIXH
Ticker Fund
Name
Overlap1
vs SIXH
(%)
Expense
ratio
(bp)
Savings
vs SIXH
(bp)
ALTAR
Score™
(%)
ALTAR
vs SIXH
(%)
CCOR Core Alternative ETF 31.8 107 -20 5.8 -1.6
DJIA Global X Dow 30 Covered Call ETF 30.0 60 27 7.2 -0.1
XYLD Global X S&P 500 Covered Call ETF 27.3 60 27 6.1 -1.3
PBP Invesco S&P 500 BuyWrite ETF 27.3 49 38 6.2 -1.2
XRMI Global X S&P 500 Risk Managed Income ETF 27.2 60 27 6.1 -1.3
XYLG Global X S&P 500 Covered Call & Growth ETF 26.7 60 27 6.0 -1.3
XCLR Global X S&P 500 Collar 95-110 ETF 26.3 60 27 6.1 -1.2
XTR Global X S&P 500 Tail Risk ETF 26.1 60 27 6.1 -1.3
XVOL Acruence Active Hedge U.S. Equity ETF 26.1 83 4 6.0 -1.4
FTHI First Trust High Income ETF 25.9 85 2 6.6 -0.8
ACIO Aptus Collared Income Opportunity ETF 25.5 79 8 5.9 -1.5
EFIV SPDR S&P 500 ESG ETF 25.4 10 77 6.6 -0.7
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 24.0 55 32 7.4 +0.1
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 18.5 75 12 5.9 -1.4
STLG iShares Factors US Growth Style ETF 18.0 25 62 9.1 +1.8
HYLG Global X Health Care Covered Call & Growth ETF 14.1 60 27 8.5 +1.1
FTQI First Trust Nasdaq BuyWrite Income ETF 13.9 85 2 4.7 -2.6
QRMI Global X NASDAQ 100 Risk Managed Income ETF 13.7 60 27 5.6 -1.7
QYLD Global X NASDAQ 100 Covered Call ETF 13.7 60 27 5.6 -1.8
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 13.5 60 27 5.5 -1.9
QCLR Global X NASDAQ 100 Collar 95-110 ETF 13.4 60 27 5.5 -1.8
QTR Global X NASDAQ 100 Tail Risk ETF 13.2 60 27 5.6 -1.8
NUSI Nationwide Risk-Managed Income ETF 13.2 68 19 5.3 -2.0
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 10.7 35 52 6.0 -1.3
GRES IQ Global Resources ETF 8.7 30 57 9.0 +1.7
MMLG First Trust Multi-Manager Large Growth ETF 8.5 85 2 2.8 -4.5
FYLG Global X Financials Covered Call & Growth ETF 7.8 60 27 7.6 +0.2
TYLG Global X Information Technology Covered Call & Growth ETF 6.1 60 27 6.1 -1.2
THNQ ROBO Global Artificial Intelligence ETF 5.4 68 19 2.2 -5.1
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 3.9 58 29 5.1 -2.3
LCG Sterling Capital Focus Equity ETF 1.4 59 28 4.8 -2.5

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2017 2018 2019 2020 2021 2022E 2023E
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
  2021 2022E 2023E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
6 Meridian Hedged Equity-Index Option Strategy 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 20.7 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 87 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 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.