AAM S&P 500 High Dividend Value
ALTAR
Score™
10.7% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.6x P/Sales
ratio
0.8x
P/BV
ratio
1.8x Div.
yield
4.1%


  • 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) $39
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 54
Wgt avg mkt cap (mns) $47,651
Large cap (>$10bn) 79.7%
Mid cap ($2-10bn) 20.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CVS CAREMARK CORP 2.4 %
AMGEN INC 2.4 %
WESTERN UNION CO 2.3 %
ABBVIE INC 2.3 %
CENTURYTEL INC 2.2 %
CARDINAL HEALTH INC 2.2 %
SEAGATE TECHNOLOGY 2.2 %
CAMPBELL SOUP CO 2.1 %
AT&T INC 2.1 %
KIMCO REALTY CORP 2.0 %
Total 22.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.5 %
IRELAND 4.2 %
BRITAIN 1.9 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
18.8% 6.7% -- -- 6.7%

Market Correlations
versus... Beta R-squared
S&P500 1.02 87%
MSCI EAFE 1.09 75%
MSCI Emg. Mkts. 0.81 64%

Technical Indicators
Recent close $27.10
30d moving avg. $27.11
Annualized volatility 15.9%
Short interest (ETF) 0.5%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.3%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $13,722

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the AAM S&P 500 High Dividend Value 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™: 10.7%


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 51.7 40 -11 9.2 -1.6
SPYD SPDR Portfolio S&P 500 High Dividend 48.8 7 22 9.1 -1.6
SPHD Invesco S&P 500 High Dividend 46.2 30 -1 7.7 -3.0
DVY iShares Select Dividend 37.9 39 -10 7.9 -2.8
DTN WisdomTree Dividend Ex-Financials 36.0 38 -9 7.8 -3.0
CDL Victory CEMP US Large Cap High Div Volatility Wtd 33.3 35 -6 7.7 -3.1
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd 33.3 35 -6 7.7 -3.1
FDL First Trust Morningstar Dividend Leaders 33.1 45 -16 8.5 -2.3
WBIY WBI Power Factor High Dividend 29.8 70 -41 9.6 -1.1
RDIV Invesco S&P Ultra Dividend Revenue ETF 28.7 39 -10 10.3 -0.4
RNDV US Equity Dividend Select 27.6 50 -21 7.7 -3.1
ESGL Invesco ESG Revenue ETF 27.2 40 -11 7.7 -3.0
QDIV Global X S&P 500 Quality Dividend 27.0 20 9 7.0 -3.8
LVHD Legg Mason Low Volatility High Dividend ETF 25.5 27 2 6.7 -4.0
COWZ Pacer US Cash Cows 100 25.4 49 -20 9.7 -1.1
VLUE iShares MSCI USA Value Factor 25.4 15 14 10.8 +0.1
RPV Invesco S&P 500 Pure Value ETF 25.4 35 -6 9.7 -1.1
DHS WisdomTree Equity Income 25.3 38 -9 7.2 -3.6
ESGS Columbia Sustainable U.S. Equity Income 25.3 35 -6 8.2 -2.5
SPVU Invesco S&P 500 Value 25.2 13 16 10.9 +0.1

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:
AAM S&P 500 High Dividend Value
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 18.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 10.7 %
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.