Cambria Cannabis
ALTAR
Score™
1.0% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
-141.9x P/Sales
ratio
2.1x
P/BV
ratio
2.1x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Cambria Cannabis ETF is an actively-managed portfolio of global companies related to cannabis and hemp.

FUND BASICS
Category Global Equities
Fund Sponsor Cambria
Website www.cambriafunds.com
Inception date Jul 25, 2019
Assets (mns) $9
Currency USD
Expense ratio 42 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $11,519
Large cap (>$10bn) 16.9%
Mid cap ($2-10bn) 14.8%
Small cap (<$2bn) 68.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MEDIPHARM LABS CORP. 6.9 %
APHRIA INC 5.8 %
AURORA CANNABIS INC. 5.6 %
CONSTELLATION BRANDS INC-A 5.2 %
GW PHARMACEUTICALS PLC SPONSORED A 4.8 %
CANOPY GROWTH CORPORATION 4.3 %
BRITISH AMERICAN TOBACCO PLC 4.1 %
VILLAGE FARMS INTERNATIONAL, INC. 3.5 %
ORGANIGRAM HOLDINGS INC 3.4 %
CRONOS GROUP INC 3.1 %
Total 46.8 %

TOP COUNTRY EXPOSURE
CANADA 54.4 %
UNITED STATES 23.6 %
BRITAIN 8.9 %
AUSTRALIA 1.1 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 01)
Year-to-date 1 year 5 years 10 years Since Incep.
-- -- -- -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $16.80
30d moving avg. $17.59
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 8
Turnover 1.5%
Bid/Ask (% of price) 0.66%
ADV underlying (mns) $1,539

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Cambria Cannabis ETF based on the alternatives' overlap in portfolio holdings with TOKE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: TOKE Expense: 42 bp ALTAR Score™: 1.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH TOKE
Ticker Fund
Name
Overlap1
vs TOKE
(%)
Expense
ratio
(bp)
Savings
vs TOKE
(bp)
ALTAR
Score™
(%)
ALTAR
vs TOKE
(%)
CNBS Amplify Seymour Cannabis 52.9 75 -33 -10.4 -11.4
MJ ETFMG Alternative Harvest 52.3 75 -33 -4.0 -5.0
THCX Cannabis 50.2 70 -28 -5.8 -6.8
YOLO AdvisorShares Pure Cannabis 39.2 74 -32 -16.4 -17.4
POTX Global X Cannabis 19.2 50 -8 -24.6 -25.6
ACT AdvisorShares Vice 14.2 99 -57 7.5 +6.4
KXI iShares S&P Global Consumer Staples 8.6 46 -4 5.3 +4.3
RHS Invesco S&P Equal Weight Consumer Staples 8.1 40 2 6.6 +5.6
JHMS John Hancock Multifactor Consumer Staples 7.2 40 2 7.7 +6.7
IECS iShares Evolved U.S. Consumer Staples 7.2 18 24 6.3 +5.3
XLP Consumer Staples Select Sector SPDR 7.2 13 29 5.5 +4.5
VDC Vanguard Consumer Staples 7.1 10 32 5.5 +4.5
FSTA Fidelity MSCI Consumer Staples 7.0 8 34 5.5 +4.5
IYK iShares US Consumer Goods 6.7 42 0 6.4 +5.3
PEY Invesco High Yield Equity Dividend Acheivers 6.6 53 -11 6.9 +5.8
FDVV Fidelity Core Dividend 5.5 29 13 7.4 +6.4
DIV Global X SuperDividend US ETF 5.3 45 -3 7.6 +6.6
WBIY WBI Power Factor High Dividend 5.3 70 -28 10.1 +9.0
FDL First Trust Morningstar Dividend Leaders 5.3 45 -3 8.6 +7.5
FXG First Trust Consumer Staples 5.3 64 -22 6.7 +5.7

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%.

Content on this tab for subscribers only**

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:
Cambria Cannabis
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 3.0 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 1.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 CATEGORY
AVERAGE
1.54
 
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.