Legg Mason Small-Cap Quality Value
ALTAR
Score™
7.0% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
125.3x P/Sales
ratio
0.6x
P/BV
ratio
1.2x Div.
yield
2.3%


  • 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) $11
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 246
Wgt avg mkt cap (mns) $1,101
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 17.3%
Small cap (<$2bn) 82.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PATTERSON-UTI ENERGY INC 0.9 %
MOELIS & CO - CLASS A 0.8 %
MR. COOPER GROUP, INC. 0.7 %
MERIDIAN BIOSCIENCE INC 0.7 %
WARRIOR MET COAL, INC. 0.7 %
CVR ENERGY INC 0.7 %
MAGELLAN HEALTH SERVICES INC 0.7 %
IROBOT CORP 0.7 %
ARTISAN PARTNERS ASSET MA -A 0.7 %
TRINSEO SA 0.7 %
Total 7.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %










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.
-22.1% -10.1% -- -- -3.9%

Market Correlations
versus... Beta R-squared
S&P500 1.39 84%
MSCI EAFE 1.43 75%
MSCI Emg. Mkts. 1.10 66%

Technical Indicators
Recent close $22.17
30d moving avg. $20.25
Annualized volatility 26.6%
Short interest (ETF) 1.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $3,004

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.0%


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
(%)
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 27.9 39 23 6.3 -0.7
ROGS Hartford Multifactor Global Small Cap ETF 27.0 34 28 8.1 +1.1
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 24.8 35 27 8.4 +1.4
CALF Pacer US Small Cap Cash Cows 100 ETF 24.3 59 3 11.4 +4.5
BUY USCF SummerHaven SHPEI Index Fund 23.1 80 -18 10.5 +3.5
AFSM First Trust Active Factor Small Cap ETF 22.8 75 -13 5.7 -1.2
EES WisdomTree SmallCap Earnings Fund 22.4 38 24 11.3 +4.4
TPSC Timothy Plan US Small Cap Core ETF 21.5 52 10 7.8 +0.8
AVUV Avantis U.S. Small Cap Value ETF 20.7 25 37 8.9 +2.0
CSML IQ Chaikin U.S. Small Cap ETF 20.3 35 27 4.7 -2.3
PSC Principal U.S. Small Cap Index ETF 20.2 38 24 7.1 +0.2
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 19.4 35 27 8.4 +1.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 18.2 29 33 1.9 -5.1
FYT First Trust Small Cap Value AlphaDEX Fund 17.9 72 -10 9.1 +2.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 17.4 30 32 7.6 +0.6
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 16.9 40 22 6.4 -0.6
FYX First Trust Small Cap Core AlphaDEX Fund 16.7 63 -1 6.5 -0.4
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 16.6 35 27 9.5 +2.6
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 16.6 29 33 10.2 +3.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 16.3 29 33 6.0 -1.0
IJS iShares S&P Small-cap 600 Value ETF 15.9 25 37 9.1 +2.1
SLYV SPDR S&P 600 Small Cap Value ETF 15.9 15 47 9.2 +2.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 15.9 20 42 6.1 -0.9
ISMD Inspire Small/Mid Cap Impact ETF 15.8 61 1 6.9 -0.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 15.7 15 47 9.0 +2.1
RWJ Invesco S&P SmallCap 600 Revenue ETF 15.7 39 23 6.8 -0.1
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 15.7 35 27 6.2 -0.7
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 14.9 38 24 9.1 +2.1
SLY SPDR S&P 600 Small Cap ETF 14.7 15 47 7.0 +0.1
SPSM SPDR Portfolio Small Cap ETF 14.7 5 57 7.1 +0.2
IJR iShares Core S&P Small Cap ETF 14.7 7 55 7.1 +0.1
VIOO Vanguard S&P Small-Cap 600 ETF 14.4 10 52 7.0 +0.0
DES WisdomTree U.S. SmallCap Dividend Fund 14.0 38 24 8.7 +1.7
XSVM Invesco S&P SmallCap Value with Momentum ETF 13.6 39 23 10.3 +3.3
XSHQ Invesco S&P SmallCap Quality ETF 13.0 29 33 6.1 -0.9
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 12.4 24 38 7.7 +0.7
SLYG SPDR S&P 600 Small Cap Growth ETF 12.2 15 47 5.3 -1.6
IJT iShares S&P Small-Cap 600 Growth ETF 12.2 25 37 5.2 -1.7
RNSC Small Cap US Equity Select ETF 12.2 60 2 7.6 +0.6
VIOG Vanguard S&P Small-Cap 600 Growth ETF 12.1 16 46 5.3 -1.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 11.7 25 37 6.4 -0.5
FDM First Trust Dow Jones Select Microcap Index Fund 11.7 60 2 7.8 +0.9
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 11.2 39 23 4.4 -2.6
VUSE Vident Core US Equity Fund 11.2 48 14 7.7 +0.8
RZV Invesco S&P Smallcap 600 Pure Value ETF 10.8 35 27 9.1 +2.1
IUSS Invesco Strategic US Small Company ETF 10.7 23 39 5.9 -1.0
FYC First Trust Small Cap Growth AlphaDEX Fund 10.5 70 -8 2.6 -4.4
PSCH Invesco S&P SmallCap Health Care ETF 10.5 29 33 3.0 -3.9
IWN iShares Russell 2000 Value ETF 10.5 24 38 7.2 +0.2
JKL iShares Morningstar Small Cap Value ETF 10.3 30 32 9.8 +2.8
IWC iShares Micro-Cap ETF 10.3 60 2 -4.1 -11.0
VTWV Vanguard Russell 2000 Value Index Fund 10.2 15 47 7.3 +0.3
XSLV Invesco S&P SmallCap Low Volatility ETF 10.1 25 37 5.9 -1.0
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 10.1 12 50 8.1 +1.2
VFMF Vanguard U.S. Multifactor ETF 10.0 18 44 7.3 +0.4
FSMD Fidelity Small-Mid Factor ETF 9.9 29 33 7.0 +0.1
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 9.8 80 -18 5.5 -1.4
JSML Janus Henderson Small Cap Growth Alpha ETF 9.8 35 27 6.2 -0.7
VFQY Vanguard U.S. Quality Factor ETF 9.6 13 49 6.1 -0.9
IWM iShares Russell 2000 ETF 9.5 19 43 3.6 -3.3
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 9.3 48 14 6.4 -0.6
VTWO Vanguard Russell 2000 Index Fund 9.2 10 52 3.7 -3.3
RZG Invesco S&P Smallcap 600 Pure Growth ETF 9.2 35 27 6.3 -0.7
IWO iShares Russell 2000 Growth ETF 8.8 24 38 0.7 -6.2
VAMO Cambria Value & Momentum ETF 8.7 64 -2 7.4 +0.4
VTWG Vanguard Russell 2000 Growth Index Fund 8.5 15 47 0.8 -6.1
EWMC Invesco S&P MidCap 400 Equal Weight ETF 8.0 40 22 6.8 -0.2
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 8.0 20 42 9.5 +2.6
NUSC Nuveen ESG Small-Cap ETF 8.0 40 22 5.0 -1.9
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 7.9 60 2 8.4 +1.5
SCHA Schwab U.S. Small-Cap ETF 7.9 4 58 4.9 -2.1
PSCI Invesco S&P SmallCap Industrials ETF 7.9 29 33 6.8 -0.2
SMDY Syntax Stratified MidCap ETF 7.4 30 32 6.3 -0.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 7.3 20 42 6.0 -0.9
PSCT Invesco S&P SmallCap Information Technology ETF 7.3 29 33 5.6 -1.3
VFVA Vanguard U.S. Value Factor ETF 7.0 13 49 11.8 +4.9
VBR Vanguard Small Cap Value Index Fund 7.0 7 55 8.4 +1.5
RFV Invesco S&P Midcap 400 Pure Value ETF 7.0 35 27 9.6 +2.7
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 6.9 17 45 4.9 -2.1
MDYV SPDR S&P 400 Mid Cap Value ETF 6.8 15 47 8.4 +1.4
IJJ iShares S&P Mid-Cap 400 Value ETF 6.7 25 37 8.3 +1.3
IVOV Vanguard S&P Mid-Cap 400 Value ETF 6.7 15 47 8.4 +1.5
JKJ iShares Morningstar Small-Cap ETF 6.7 25 37 6.5 -0.5
PBSM Invesco PureBeta MSCI USA Small Cap ETF 6.4 6 56 5.1 -1.8
PXSG Invesco S&P SmallCap Momentum ETF 6.2 39 23 5.2 -1.8
DWAS Invesco DWA SmallCap Momentum ETF 6.1 60 2 -1.1 -8.0
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 6.0 29 33 8.8 +1.9
BUYN USCF SummerHaven SHPEN Index Fund 6.0 80 -18 9.6 +2.6
XHE SPDR S&P Health Care Equipment ETF 5.9 35 27 1.8 -5.2
FAB First Trust Multi Cap Value AlphaDEX Fund 5.8 71 -9 9.5 +2.6
FNK First Trust Mid Cap Value AlphaDEX Fund 5.8 70 -8 10.6 +3.7
KRE SPDR S&P Regional Banking ETF 5.7 35 27 10.9 +4.0
BFOR Barron's 400 ETF 5.6 66 -4 6.3 -0.6
KBE SPDR S&P Bank ETF 5.6 35 27 10.9 +3.9
IFRA iShares U.S. Infrastructure ETF 5.5 40 22 5.6 -1.3
QABA First Trust NASDAQ ABA Community Bank Index Fund 5.4 60 2 10.6 +3.6
SYLD Cambria Shareholder Yield ETF 5.4 59 3 9.1 +2.1
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 5.3 35 27 5.2 -1.7
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 5.0 125 -63 -2.9 -9.8

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

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.