Salt TruBeta High Exposure ETF
ALTAR
Score™
7.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
141.9x P/Sales
ratio
0.8x
P/BV
ratio
1.0x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Salt truBeta High Exposure ETF tracks an equal-weighted index of US large-cap companies predicted to have high beta to the SPDR S&P 500 ETF (SPY).

FUND BASICS
Category US Equities
Fund Sponsor Salt Financial
Website www.saltfinancial.com
Inception date May 16, 2018
Assets (mns) $15
Currency USD
Expense ratio 29 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $60,627
Large cap (>$10bn) 56.8%
Mid cap ($2-10bn) 37.2%
Small cap (<$2bn) 6.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
WAYFAIR INC- CLASS A 3.7 %
CARVANA CO. CLASS A 1.6 %
NUTANIX, INC. CLASS A 1.5 %
MURPHY OIL CORP 1.4 %
HALLIBURTON CO 1.4 %
EXACT SCIENCES CORP 1.3 %
TRADE DESK, INC. CLASS A 1.3 %
NVIDIA CORP 1.3 %
CIMAREX ENERGY CO 1.3 %
TESLA MOTORS INC 1.3 %
Total 16.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.7 %
BRITAIN 1.1 %
SWITZERLAND 0.8 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-17.5% -12.0% -- -- -3.0%

Market Correlations
versus... Beta R-squared
S&P500 1.68 93%
MSCI EAFE 1.78 85%
MSCI Emg. Mkts. 1.45 84%

Technical Indicators
Recent close $23.24
30d moving avg. $21.69
Annualized volatility 35.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.8%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $79,951

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Salt TruBeta High Exposure ETF ETF based on the alternatives' overlap in portfolio holdings with SLT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SLT Expense: 29 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SLT
Ticker Fund
Name
Overlap1
vs SLT
(%)
Expense
ratio
(bp)
Savings
vs SLT
(bp)
ALTAR
Score™
(%)
ALTAR
vs SLT
(%)
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 44.6 49 -20 11.3 +3.6
SPHB Invesco S&P 500 High Beta ETF 44.6 25 4 11.5 +3.8
SPYB SPDR S&P 500 Buyback ETF 28.5 35 -6 10.2 +2.5
FCTR First Trust Lunt U.S. Factor Rotation ETF 27.4 65 -36 5.9 -1.8
FTA First Trust Large Cap Value AlphaDEX Fund 26.2 60 -31 10.4 +2.6
RPV Invesco S&P 500 Pure Value ETF 23.6 35 -6 12.5 +4.8
PMOM Principal Sustainable Momentum Index ETF 21.9 29 0 11.1 +3.4
RNDV US Equity Dividend Select ETF 21.9 50 -21 8.6 +0.9
USDY Pacific Global US Equity Income ETF 20.2 29 0 8.5 +0.8
RYT Invesco S&P 500 Equal Weight Technology ETF 19.9 40 -11 7.7 -0.0
AUSF Global X Adaptive U.S. Factor ETF 19.8 27 2 8.9 +1.2
JVAL JPMorgan U.S. Value Factor ETF 19.7 12 17 9.5 +1.8
PY Principal Shareholder Yield Index ETF 19.3 29 0 10.3 +2.5
SPVU Invesco S&P 500 Enhanced Value ETF 19.1 13 16 12.0 +4.3
SPGP Invesco S&P 500 GARP ETF 19.0 35 -6 7.9 +0.2
FEX First Trust Large Cap Core AlphaDEX Fund 18.5 60 -31 6.7 -1.0
ONEY SPDR Russell 1000 Yield Focus ETF 18.5 20 9 9.2 +1.5
RNLC Large Cap US Equity Select ETF 18.4 60 -31 6.8 -0.9
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 18.4 35 -6 9.2 +1.5
MAGA Point Bridge GOP Stock Tracker ETF 18.3 72 -43 7.0 -0.7
SYLD Cambria Shareholder Yield ETF 17.9 59 -30 10.5 +2.8
VLU SPDR S&P 1500 Value Tilt ETF 17.8 12 17 8.0 +0.3
JHMT John Hancock Multifactor Technology ETF 17.8 40 -11 5.3 -2.4
FAB First Trust Multi Cap Value AlphaDEX Fund 17.6 71 -42 10.9 +3.2
DIVB iShares U.S. Dividend & Buyback ETF 17.6 25 4 6.9 -0.8
ESGS Columbia Sustainable U.S. Equity Income ETF 17.5 35 -6 9.6 +1.9
QSY WisdomTree U.S. LargeCap Value Fund 17.3 38 -9 7.4 -0.3
LSAF LeaderShares AlphaFactor US Core Equity ETF 16.7 75 -46 7.9 +0.2
SPVM Invesco S&P 500 Value with Momentum ETF 16.7 39 -10 10.3 +2.6
VLUE iShares Edge MSCI USA Value Factor ETF 16.7 15 14 11.9 +4.2
JKI iShares Morningstar Mid-Cap Value ETF 16.5 30 -1 10.6 +2.9
RYF Invesco S&P 500 Equal Weight Financials ETF 16.5 40 -11 10.8 +3.1
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 16.1 60 -31 4.4 -3.3
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 16.0 35 -6 4.7 -3.0
FXN First Trust Energy AlphaDEX Fund 15.9 65 -36 -0.3 -8.0
FDVV Fidelity Core Dividend ETF 15.8 29 0 7.9 +0.2
ESG FlexShares STOXX US ESG Impact Index Fund 15.5 32 -3 5.4 -2.3
DGRO iShares Core Dividend Growth ETF 15.5 8 21 6.9 -0.8
EQWL Invesco Russell Top 200 Equal Weight ETF 15.5 25 4 6.4 -1.3
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 15.4 20 9 8.3 +0.5
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 15.3 57 -28 5.3 -2.5
RSP Invesco S&P 500 Equal Weight ETF 14.9 20 9 7.5 -0.2
JHMF John Hancock Multifactor Financials ETF 14.9 40 -11 8.4 +0.7
VEGN US Vegan Climate ETF 14.9 60 -31 5.5 -2.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 14.8 25 4 7.0 -0.7
PRF Invesco FTSE RAFI US 1000 ETF 14.6 39 -10 7.4 -0.4
JHME John Hancock Multifactor Energy ETF 14.6 40 -11 3.7 -4.0
FDRR Fidelity Dividend ETF for Rising Rates 14.5 29 0 7.4 -0.3
EPS WisdomTree U.S. Earnings 500 Fund 14.4 8 21 6.9 -0.9
RWL Invesco S&P 500 Revenue ETF 14.3 39 -10 7.3 -0.4
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 14.3 35 -6 9.2 +1.5
RDIV Invesco S&P Ultra Dividend Revenue ETF 14.3 39 -10 11.8 +4.1
SPXV ProShares S&P 500 Ex-Health Care ETF 14.3 27 2 5.4 -2.3
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 14.2 49 -20 5.9 -1.9
TUSA First Trust Total US Market AlphaDEX ETF 14.2 70 -41 6.8 -0.9
XLK Technology Select Sector SPDR Fund 14.1 13 16 5.1 -2.7
FVAL Fidelity Value Factor ETF 14.1 29 0 8.7 +1.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 14.1 25 4 7.0 -0.7
CLRG IQ Chaikin U.S. Large Cap ETF 14.0 25 4 6.5 -1.2
FNK First Trust Mid Cap Value AlphaDEX Fund 13.9 70 -41 12.3 +4.6
RAFE PIMCO RAFI ESG U.S. ETF 13.9 29 0 8.3 +0.5
VGT Vanguard Information Technology Index Fund 13.7 10 19 4.9 -2.8
EQRR ProShares Equities for Rising Rates ETF 13.7 35 -6 6.6 -1.1
FTEC Fidelity MSCI Information Technology Index ETF 13.7 8 21 4.9 -2.8
QDIV Global X S&P 500 Quality Dividend ETF 13.7 20 9 8.8 +1.0
IYW iShares U.S. Technology ETF 13.7 42 -13 4.4 -3.3
FXO First Trust Financials AlphaDEX Fund 13.7 63 -34 13.5 +5.8
SFY SoFi Select 500 ETF 13.6 0 29 5.6 -2.1
QLC FlexShares US Quality Large Cap Index Fund 13.6 32 -3 5.9 -1.9
SPDV AAM S&P 500 High Dividend Value ETF 13.4 29 0 11.4 +3.6
IEO iShares U.S. Oil & Gas Exploration & Production ETF 13.4 42 -13 3.4 -4.3
KRMA Global X Conscious Companies ETF 13.4 43 -14 5.6 -2.1
FCPI Fidelity Stocks for Inflation ETF 13.4 29 0 7.2 -0.5
FXL First Trust Technology AlphaDEX Fund 13.4 61 -32 3.5 -4.3
DYNF BlackRock U.S. Equity Factor Rotation ETF 13.3 30 -1 7.1 -0.6
SCHV Schwab U.S. Large-Cap Value ETF 13.3 4 25 7.6 -0.2
PBP Invesco S&P 500 BuyWrite ETF 13.3 49 -20 5.3 -2.4
RPG Invesco S&P 500 Pure Growth ETF 13.2 35 -6 4.7 -3.1
MGC Vanguard Mega Cap Index Fund 13.1 7 22 5.6 -2.2
IGM iShares North American Tech ETF 13.1 46 -17 4.1 -3.6
HSPX Global X S&P 500 Covered Call ETF 13.1 65 -36 5.2 -2.6
VV Vanguard Large-Cap Index Fund 13.0 4 25 5.6 -2.1
IXN iShares Global Tech ETF 13.0 46 -17 5.0 -2.8
WBIY WBI Power Factor High Dividend ETF 13.0 70 -41 15.3 +7.6
DVY iShares Select Dividend ETF 12.9 39 -10 8.7 +1.0
IWL iShares Russell Top 200 ETF 12.9 15 14 5.4 -2.3
IEFN iShares Evolved U.S. Financials ETF 12.9 18 11 10.0 +2.3
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 12.9 17 12 7.4 -0.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 12.9 2 27 5.7 -2.0
PBUS Invesco PureBeta MSCI USA ETF 12.9 4 25 5.7 -2.0
SCHX Schwab U.S. Large-Cap ETF 12.8 3 26 5.7 -2.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 12.8 20 9 5.3 -2.4
ESGU iShares MSCI USA ESG Optimized ETF 12.8 15 14 5.4 -2.3
SPLG SPDR Portfolio Large Cap ETF 12.8 3 26 5.8 -1.9
DLN WisdomTree U.S. LargeCap Dividend Fund 12.7 28 1 6.7 -1.0
XOP SPDR S&P Oil & Gas Exploration & Production ETF 12.7 35 -6 2.9 -4.9
SPY SPDR S&P 500 ETF Trust 12.7 9 20 5.7 -2.0
IVV iShares Core S&P 500 ETF 12.7 4 25 5.8 -2.0
AVUS Avantis U.S. Equity ETF 12.7 15 14 6.3 -1.5

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:
Salt TruBeta High Exposure ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.6 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.52
 
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.