AAM S&P 500 High Dividend Value ETF
ALTAR
Score™
10.4% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
11.2x P/Sales
ratio
0.7x
P/BV
ratio
1.6x Div.
yield
4.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The AAM S&P 500 High Dividend Value ETF seeks to provide investment results that, before fees and expenses, track the total return performance of the S&P 500 Dividend and Free Cash Flow Yield Index.

FUND BASICS
Category US Equities
Fund Sponsor Advisors Asset Mgmt
Website www.aamlive.com
Inception date Nov 28, 2017
Assets (mns) $41
Currency USD
Expense ratio 29 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 55
Wgt avg mkt cap (mns) $45,692
Large cap (>$10bn) 81.0%
Mid cap ($2-10bn) 19.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
L BRANDS, INC. 2.1 %
ABBVIE INC 2.1 %
CARDINAL HEALTH INC 2.0 %
GILEAD SCIENCES INC 2.0 %
MARATHON PETROLEUM 2.0 %
EATON CORP PLC 2.0 %
VENTAS INC 1.9 %
UNUM GROUP 1.9 %
DOMINION RESOURCES INC/VA 1.9 %
HELMERICH & PAYNE 1.9 %
Total 19.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
IRELAND 3.5 %
BRITAIN 1.8 %








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.
-4.5% 6.5% -- -- 4.6%

Market Correlations
versus... Beta R-squared
S&P500 1.02 85%
MSCI EAFE 1.08 74%
MSCI Emg. Mkts. 0.75 61%

Technical Indicators
Recent close $26.33
30d moving avg. $27.07
Annualized volatility 15.6%
Short interest (ETF) 1.2%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.6%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $13,147

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the AAM S&P 500 High Dividend Value ETF ETF based on the alternatives' overlap in portfolio holdings with SPDV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPDV Expense: 29 bp ALTAR Score™: 10.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPDV
Ticker Fund
Name
Overlap1
vs SPDV
(%)
Expense
ratio
(bp)
Savings
vs SPDV
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPDV
(%)
SDOG ALPS Sector Dividend Dogs ETF 56.0 40 -11 9.7 -0.7
SPYD SPDR S&P 500 High Dividend ETF 47.4 7 22 9.0 -1.4
DTN WisdomTree U.S. Dividend ex-Financials Fund 39.0 38 -9 8.0 -2.4
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 35.5 30 -1 7.9 -2.5
DVY iShares Select Dividend ETF 34.2 39 -10 7.8 -2.6
RNDV US Equity Dividend Select ETF 34.1 50 -21 8.0 -2.3
GBDV Global Beta Smart Income ETF 34.0 29 0 11.3 +1.0
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd Index ETF 31.3 35 -6 8.0 -2.3
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 31.3 35 -6 8.0 -2.3
FDL First Trust Morningstar Dividend Leaders Index Fund 30.1 45 -16 8.7 -1.6
DHS WisdomTree U.S. High Dividend Fund 30.1 38 -9 7.9 -2.4
DVOP Source Dividend Opportunity ETF 29.0 50 -21 9.3 -1.1
USDY Pacific Global US Equity Income ETF 27.5 29 0 7.7 -2.6
QDIV Global X S&P 500 Quality Dividend ETF 27.0 20 9 7.9 -2.5
WBIY WBI Power Factor High Dividend ETF 26.2 70 -41 11.5 +1.2
COWZ Pacer US Cash Cows 100 ETF 26.0 49 -20 10.2 -0.1
FLAG FLAG-Forensic Accounting Long Short ETF 25.9 152 -123 8.7 -1.7
RPV Invesco S&P 500 Pure Value ETF 25.7 35 -6 11.2 +0.8
OYLD Invesco Russell 1000 Yield Factor ETF 24.8 19 10 7.4 -3.0
VALQ American Century STOXX U.S. Quality Value ETF 24.5 29 0 9.2 -1.2

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:
AAM S&P 500 High Dividend Value 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 17.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 10.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.71 CATEGORY
AVERAGE
1.56
 
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.