AAM S&P 500 High Dividend Value ETF
ALTAR
Score™
10.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
16.1x P/Sales
ratio
0.8x
P/BV
ratio
1.5x Div.
yield
4.7%


  • 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) $22
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 53
Wgt avg mkt cap (mns) $48,717
Large cap (>$10bn) 78.5%
Mid cap ($2-10bn) 21.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GILEAD SCIENCES INC 3.0 %
GENERAL MILLS INC 2.9 %
ABBVIE INC 2.7 %
CARDINAL HEALTH INC 2.5 %
DOMINION RESOURCES INC/VA 2.5 %
C.H. ROBINSON WORLDWIDE INC 2.5 %
KRAFT FOODS GROUP INC 2.4 %
CUMMINS INC 2.4 %
VERIZON COMMUNICATIONS INC 2.3 %
BRISTOL-MYERS SQUIBB CO 2.3 %
Total 25.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.3 %
IRELAND 4.2 %
BRITAIN 1.8 %








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.
-23.5% -11.2% -- -- -4.8%

Market Correlations
versus... Beta R-squared
S&P500 1.15 89%
MSCI EAFE 1.23 86%
MSCI Emg. Mkts. 0.95 78%

Technical Indicators
Recent close $21.72
30d moving avg. $19.77
Annualized volatility 22.5%
Short interest (ETF) 2.1%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.7%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $22,081

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 10.5%


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 54.8 40 -11 9.8 -0.7
SPYD SPDR S&P 500 High Dividend ETF 49.5 7 22 10.0 -0.5
DTN WisdomTree U.S. Dividend ex-Financials Fund 41.2 38 -9 7.7 -2.8
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 37.3 30 -1 9.2 -1.3
FDL First Trust Morningstar Dividend Leaders Index Fund 33.0 45 -16 8.0 -2.5
DVY iShares Select Dividend ETF 32.8 39 -10 7.9 -2.6
DHS WisdomTree U.S. High Dividend Fund 32.6 38 -9 8.3 -2.2
RDIV Invesco S&P Ultra Dividend Revenue ETF 32.4 39 -10 10.4 -0.1
GBDV Global Beta Smart Income ETF 31.0 29 0 11.6 +1.1
PEY Invesco High Yield Equity Dividend Achievers ETF 28.3 53 -24 8.4 -2.1
COWZ Pacer US Cash Cows 100 ETF 27.7 49 -20 9.5 -1.0
LVHD Legg Mason Low Volatility High Dividend ETF 27.4 27 2 8.4 -2.1
JKF iShares Morningstar Large Cap Value ETF 26.6 25 4 7.5 -3.0
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 26.2 35 -6 8.2 -2.3
NULV Nuveen ESG Large-Cap Value ETF 25.1 35 -6 7.3 -3.2
RNDV US Equity Dividend Select ETF 24.9 50 -21 7.5 -3.0
DEW WisdomTree Global High Dividend Fund 24.6 58 -29 9.0 -1.5
USDY Pacific Global US Equity Income ETF 24.5 29 0 7.6 -2.9
ESGS Columbia Sustainable U.S. Equity Income ETF 24.5 35 -6 8.7 -1.8
QDIV Global X S&P 500 Quality Dividend ETF 24.3 20 9 8.1 -2.4
GCOW Pacer Global High Dividend ETF 24.2 60 -31 10.6 +0.1
VLUE iShares Edge MSCI USA Value Factor ETF 23.9 15 14 10.8 +0.4
WBIY WBI Power Factor High Dividend ETF 23.8 70 -41 13.0 +2.5
VALQ American Century STOXX U.S. Quality Value ETF 23.3 29 0 8.7 -1.8
VYM Vanguard High Dividend Yield Index ETF 23.1 6 23 7.1 -3.4
DURA VanEck Vectors Morningstar Durable Dividend ETF 22.8 29 0 6.8 -3.7
RPV Invesco S&P 500 Pure Value ETF 22.7 35 -6 10.9 +0.4
PY Principal Shareholder Yield Index ETF 22.2 29 0 9.0 -1.5
FDRR Fidelity Dividend ETF for Rising Rates 21.7 29 0 6.9 -3.6
SCHD Schwab U.S. Dividend Equity ETF 21.4 6 23 7.3 -3.2
DLN WisdomTree U.S. LargeCap Dividend Fund 21.1 28 1 6.3 -4.2
QDF FlexShares Quality Dividend Index Fund 20.3 37 -8 6.8 -3.7
JDIV JPMorgan U.S. Dividend ETF 20.3 12 17 7.8 -2.7
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 20.3 35 -6 8.3 -2.2
OUSA O'Shares FTSE US Quality Dividend ETF 20.2 48 -19 5.6 -4.8
REVS Columbia Research Enhanced Value ETF 20.2 19 10 7.4 -3.1
QDEF FlexShares Quality Dividend Defensive Index Fund 19.8 37 -8 6.2 -4.3
FDVV Fidelity Core Dividend ETF 19.8 29 0 7.2 -3.3
FVAL Fidelity Value Factor ETF 19.4 29 0 8.0 -2.5
DTD WisdomTree U.S.Total Dividend Fund 19.3 28 1 6.5 -4.0
QDYN FlexShares Quality Dividend Dynamic Index Fund 19.1 37 -8 6.7 -3.8
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 19.1 75 -46 6.0 -4.5
WLDR Affinity World Leaders Equity ETF 18.9 47 -18 9.4 -1.0
DVP Deep Value ETF 18.9 59 -30 15.1 +4.6
SPVU Invesco S&P 500 Enhanced Value ETF 18.5 13 16 10.6 +0.1
SPHB Invesco S&P 500 High Beta ETF 18.5 25 4 9.6 -0.9
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 18.4 49 -20 9.4 -1.1
PWV Invesco Dynamic Large Cap Value ETF 18.4 55 -26 8.1 -2.4
ONEY SPDR Russell 1000 Yield Focus ETF 18.4 20 9 8.1 -2.4
SCHV Schwab U.S. Large-Cap Value ETF 18.1 4 25 7.0 -3.5
MGV Vanguard Mega Cap Value ETF 18.0 7 22 7.0 -3.5
DIV Global X SuperDividend US ETF 17.9 45 -16 9.7 -0.8
VTV Vanguard Value Index Fund 17.7 4 25 7.2 -3.3
SPYV SPDR Portfolio S&P 500 Value ETF 17.4 4 25 7.2 -3.3
IVE iShares S&P 500 Value ETF 17.4 18 11 7.1 -3.4
RAFE PIMCO RAFI ESG U.S. ETF 17.4 29 0 7.6 -2.9
VOOV Vanguard S&P 500 Value ETF 17.2 15 14 7.1 -3.4
BVAL Brand Value ETF 16.8 65 -36 6.0 -4.5
IWX iShares Russell Top 200 Value ETF 16.6 20 9 6.9 -3.6
IUSV iShares Core S&P U.S. Value ETF 16.4 4 25 7.3 -3.2
QVAL Alpha Architect U.S. Quantitative Value ETF 16.3 49 -20 10.6 +0.1
FTA First Trust Large Cap Value AlphaDEX Fund 15.9 60 -31 8.8 -1.7
RWL Invesco S&P 500 Revenue ETF 15.9 39 -10 6.7 -3.8
PRF Invesco FTSE RAFI US 1000 ETF 15.7 39 -10 6.7 -3.8
FLQL Franklin LibertyQ U.S. Equity ETF 15.6 15 14 6.2 -4.3
EQWL Invesco Russell Top 200 Equal Weight ETF 15.6 25 4 5.9 -4.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 15.3 25 4 6.4 -4.0
MAGA Point Bridge GOP Stock Tracker ETF 15.1 72 -43 6.3 -4.1
JVAL JPMorgan U.S. Value Factor ETF 15.1 12 17 8.6 -1.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 14.8 29 0 6.1 -4.4
SPVM Invesco S&P 500 Value with Momentum ETF 14.4 39 -10 9.0 -1.5
IWD iShares Russell 1000 Value ETF 14.4 19 10 6.9 -3.6
PFM Invesco Dividend Achievers ETF 14.3 54 -25 5.3 -5.2
SYV SPDR MFS Systematic Value Equity ETF 14.3 60 -31 7.2 -3.3
HDV iShares Core High Dividend ETF 14.3 8 21 6.4 -4.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 14.2 25 4 6.4 -4.1
SPYB SPDR S&P 500 Buyback ETF 14.2 35 -6 9.5 -1.0
VONV Vanguard Russell 1000 Value Index Fund 14.1 8 21 7.0 -3.5
VETS Pacer Military Times Best Employers ETF 13.9 60 -31 6.3 -4.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 13.9 15 14 6.3 -4.2
IUS Invesco Strategic US ETF 13.9 19 10 6.1 -4.4
DIVB iShares U.S. Dividend & Buyback ETF 13.8 25 4 6.4 -4.1
JKI iShares Morningstar Mid-Cap Value ETF 13.7 30 -1 9.2 -1.2
VLU SPDR S&P 1500 Value Tilt ETF 13.7 12 17 7.0 -3.5
DGRW WisdomTree U.S. Quality Dividend Growth Fund 13.5 28 1 6.5 -4.0
DSTL Distillate US Fundamental Stability & Value ETF 13.5 39 -10 6.4 -4.1
SLT Salt TruBeta High Exposure ETF 13.4 29 0 6.4 -4.1
ROUS Hartford Multifactor US Equity ETF 12.9 19 10 7.1 -3.4
AFLG First Trust Active Factor Large Cap ETF 12.8 55 -26 5.5 -5.0
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 12.8 20 9 7.5 -3.0
FCPI Fidelity Stocks for Inflation ETF 12.7 29 0 6.7 -3.8
AUSF Global X Adaptive U.S. Factor ETF 12.6 27 2 7.9 -2.6
RECS Columbia Research Enhanced Core ETF 12.6 15 14 5.6 -4.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 12.6 30 -1 6.6 -3.9
TPHD Timothy Plan High Dividend Stock ETF 12.3 52 -23 7.0 -3.5
DGRO iShares Core Dividend Growth ETF 12.3 8 21 6.4 -4.1
VFVA Vanguard U.S. Value Factor ETF 12.2 13 16 11.4 +0.9
SYLD Cambria Shareholder Yield ETF 12.2 59 -30 8.7 -1.8
VOE Vanguard Mid-Cap Value Index Fund 12.2 7 22 7.7 -2.8

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 15.9 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 10.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 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.