ProShares Russell 2000 Dividend Growers
ALTAR
Score™
5.6% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.2x P/Sales
ratio
1.1x
P/BV
ratio
2.2x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SMDV tracks an index of US small-cap stocks with a 10-year record of increasing dividends. Stocks are equally weighted.

FUND BASICS
Category US Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Feb 05, 2015
Assets (mns) $753
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 63
Wgt avg mkt cap (mns) $2,375
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 54.1%
Small cap (<$2bn) 46.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GROUP 1 AUTOMOTIVE INC 2.0 %
AMERICAN EQUITY INVT LIFE HL 2.0 %
UNIVERSAL HEALTH RLTY INCOME 1.9 %
GORMAN-RUPP CO 1.9 %
HILLENBRAND INC 1.8 %
INTER PARFUMS INC 1.8 %
MSA SAFETY INC 1.8 %
H.B. FULLER CO. 1.8 %
FRANKLIN ELECTRIC CO INC 1.8 %
MATTHEWS INTL CORP-CL A 1.8 %
Total 18.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.5 %










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.
15.0% 12.0% -- -- 10.9%

Market Correlations
versus... Beta R-squared
S&P500 0.78 54%
MSCI EAFE 0.58 25%
MSCI Emg. Mkts. 0.29 10%

Technical Indicators
Recent close $60.18
30d moving avg. $60.24
Annualized volatility 12.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 47
Turnover 0.4%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $952

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ProShares Russell 2000 Dividend Growers ETF based on the alternatives' overlap in portfolio holdings with SMDV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SMDV Expense: 40 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SMDV
Ticker Fund
Name
Overlap1
vs SMDV
(%)
Expense
ratio
(bp)
Savings
vs SMDV
(bp)
ALTAR
Score™
(%)
ALTAR
vs SMDV
(%)
KSCD KFA Small Cap Quality Dividend Index 66.4 51 -11 4.8 -0.8
TMDV ProShares Russell US Dividend Growers 23.6 35 5 5.0 -0.6
REGL ProShares S&P MidCap 400 Dividend Aristocrats 17.5 40 0 5.7 +0.1
XSHQ Invesco S&P SmallCap Quality Portfolio 15.8 29 11 5.5 -0.1
FLQS Franklin LibertyQ U.S. Small Cap Equity 13.9 35 5 6.3 +0.7
XSLV Invesco S&P SmallCap Low Volatility 13.8 25 15 6.9 +1.3
PXSG Invesco Fundamental Pure Small Growth 13.6 39 1 4.7 -0.9
CSB Victory CEMP US Small Cap High Div Volatility Wtd 12.6 35 5 7.5 +1.9
FIW First Trust ISE Water 12.4 55 -15 3.9 -1.7
RNSC Small Cap US Equity Select 12.0 60 -20 6.3 +0.7
PUI Invesco DWA Utilities Momentum 11.6 60 -20 4.3 -1.3
DGRS WisdomTree US Small Cap Dividend Growth 11.1 38 2 8.3 +2.8
PEY Invesco High Yield Equity Dividend Acheivers 10.7 53 -13 6.9 +1.3
SDY SPDR S&P Dividend ETF 10.6 35 5 6.4 +0.8
DES WisdomTree Smallcap Dividend 10.3 38 2 7.4 +1.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 10.1 29 11 5.0 -0.6
XMLV Invesco S&P MidCap Low Volatility 9.7 25 15 5.4 -0.2
PSCC Invesco S&P Small Cap Consumer Staples 9.3 29 11 4.9 -0.7
IFRA iShares U.S. Infrastructure 9.2 40 0 5.9 +0.3
IJT iShares S&P 600 SmallCap Growth 9.1 25 15 4.6 -1.0

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

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 Russell 2000 Dividend Growers
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 12.3 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.79 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.