Legg Mason Small-Cap Quality Value
ALTAR
Score™
4.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
0.7x
P/BV
ratio
1.6x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Legg Mason Small-Cap Quality Value ETF tracks an index of multi-factor selected, fundamentally weighted US small-cap stocks.

FUND BASICS
Category US Equities
Fund Sponsor Legg Mason
Website www.leggmason.com
Inception date Jul 12, 2017
Assets (mns) $12
Currency USD
Expense ratio 62 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 225
Wgt avg mkt cap (mns) $1,281
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 22.4%
Small cap (<$2bn) 77.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MOELIS & CO - CLASS A 0.9 %
HC2 HOLDINGS, INC. 0.9 %
WARRIOR MET COAL, INC. 0.8 %
ARTISAN PARTNERS ASSET MA -A 0.8 %
VECTOR GROUP LTD 0.7 %
EVERCORE PARTNERS INC-CL A 0.7 %
HOULIHAN LOKEY, INC. CLASS A 0.7 %
SYNAPTICS INC 0.7 %
BUILDERS FIRSTSOURCE INC 0.7 %
HOME BANCSHARES INC 0.7 %
Total 7.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.5 %










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.
-5.7% -0.4% -- -- 3.2%

Market Correlations
versus... Beta R-squared
S&P500 1.19 72%
MSCI EAFE 1.21 58%
MSCI Emg. Mkts. 0.75 39%

Technical Indicators
Recent close $27.22
30d moving avg. $27.36
Annualized volatility 18.5%
Short interest (ETF) 0.9%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.7%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $1,943

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Legg Mason Small-Cap Quality Value ETF based on the alternatives' overlap in portfolio holdings with SQLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SQLV Expense: 62 bp ALTAR Score™: 4.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SQLV
Ticker Fund
Name
Overlap1
vs SQLV
(%)
Expense
ratio
(bp)
Savings
vs SQLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs SQLV
(%)
CALF Pacer US Small Cap Cash Cows 100 28.1 59 3 10.3 +6.0
BUY USCF SummerHaven SHPEI Index 24.8 80 -18 11.0 +6.8
AFSM First Trust Active Factor Small Cap 24.7 75 -13 6.8 +2.5
EES WisdomTree SmallCap Earnings 22.4 38 24 8.9 +4.6
CSF Compass EMP US Discovery 500 Enhanced Vol. 22.4 35 27 7.3 +3.1
CSA Victory CEMP US Small Cap Volatility Wtd 22.3 35 27 7.3 +3.1
TPSC Timothy Plan US Small Cap Core 21.9 52 10 6.9 +2.7
AVUV Avantis U.S. Small Cap Value 20.4 25 37 7.8 +3.6
FYT First Trust Small Cap Value AlphaDEX 20.4 72 -10 7.3 +3.1
ROGS Lattice Global Small Cap Strategy 19.3 34 28 7.5 +3.2
CSML IQ Chaikin U.S. Small Cap 18.2 35 27 8.1 +3.8
PQSG PGIM QMA Strategic Alpha Small-Cap Growth 18.2 29 33 0.0 -4.2
PSC Principal U.S. Small Cap Index 17.0 38 24 6.6 +2.3
DGRS WisdomTree US Small Cap Dividend Growth 16.9 38 24 8.7 +4.4
EWSC Invesco S&P Small Cap 600 Equal Weight 16.7 40 22 5.4 +1.1
CSB Victory CEMP US Small Cap High Div Volatility Wtd 16.5 35 27 7.8 +3.6
FYX First Trust Small Cap Core Alphadex 16.1 63 -1 5.1 +0.9
SMLF iShares FactorSelect MSCI USA Small-Cap 15.7 30 32 7.0 +2.7
DES WisdomTree Smallcap Dividend 15.5 38 24 7.3 +3.0
FLQS Franklin LibertyQ U.S. Small Cap Equity 15.4 35 27 6.1 +1.8

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

Content on this tab for subscribers only

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:
Legg Mason Small-Cap Quality Value
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.7 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 4.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.