Pacer American Energy Independence ETF
ALTAR
Score™
2.7% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
29.6x P/Sales
ratio
0.6x
P/BV
ratio
1.7x Div.
yield
8.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
USAI tracks an index of US and Canadian MLPs involved in midstream energy infrastructure. The fund holds fixed percentages of different categories of holdings.

FUND BASICS
Category US Equities
Fund Sponsor Pacer Financial
Website www.paceretfs.com
Inception date Dec 12, 2017
Assets (mns) $14
Currency USD
Expense ratio 75 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 28
Wgt avg mkt cap (mns) $15,788
Large cap (>$10bn) 54.3%
Mid cap ($2-10bn) 34.0%
Small cap (<$2bn) 11.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
WILLIAMS COS INC 7.2 %
ONEOK INC 6.5 %
KINDER MORGAN INC 5.8 %
ENTERPRISE PRODUCTS PARTNERS 5.8 %
TARGA RESOURCES CORP 5.6 %
ENBRIDGE INC 5.5 %
TRANSCANADA CORP 5.5 %
PEMBINA PIPELINE CORP 4.3 %
CHENIERE ENERGY INC 4.0 %
INTER PIPELINE FUND LP-A 4.0 %
Total 54.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 65.9 %
CANADA 26.7 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-29.1% -29.4% -- -- -12.6%

Market Correlations
versus... Beta R-squared
S&P500 1.93 70%
MSCI EAFE 2.03 66%
MSCI Emg. Mkts. 1.58 61%

Technical Indicators
Recent close $15.62
30d moving avg. $16.46
Annualized volatility 42.9%
Short interest (ETF) 8.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 10
Turnover 1.1%
Bid/Ask (% of price) 0.58%
ADV underlying (mns) $2,667

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Pacer American Energy Independence ETF ETF based on the alternatives' overlap in portfolio holdings with USAI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: USAI Expense: 75 bp ALTAR Score™: 2.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH USAI
Ticker Fund
Name
Overlap1
vs USAI
(%)
Expense
ratio
(bp)
Savings
vs USAI
(bp)
ALTAR
Score™
(%)
ALTAR
vs USAI
(%)
ENFR Alerian Energy Infrastructure ETF 76.7 65 10 5.1 +2.4
MLPX Global X MLP & Energy Infrastructure ETF 71.5 45 30 3.8 +1.1
TPYP Tortoise North American Pipeline Fund 64.0 40 35 6.0 +3.3
YMLP VanEck Vectors High Income MLP ETF 63.6 45 30 5.3 +2.6
EMLP First Trust North American Energy Infrastructure Fund 33.3 96 -21 5.7 +3.0
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 24.3 46 29 5.4 +2.7
AMLP The Alerian MLP ETF 19.2 87 -12 8.5 +5.8
ZMLP Direxion Zacks MLP High Income Shares 18.3 81 -6 4.3 +1.6
IGF iShares Global Infrastructure ETF 18.1 46 29 5.3 +2.6
GII SPDR S&P Global Infrastructure ETF 18.0 40 35 5.3 +2.6
AMZA InfraCap MLP ETF 17.8 241 -166 8.7 +6.0
GLIF AGFiQ Global Infrastructure ETF 17.5 45 30 5.2 +2.5
MLPA Global X MLP ETF 17.2 46 29 8.4 +5.7
PXI Invesco DWA Energy Momentum ETF 15.6 60 15 4.1 +1.3
JHME John Hancock Multifactor Energy ETF 13.9 40 35 3.7 +1.0
FTXN First Trust Nasdaq Oil & Gas ETF 13.5 60 15 2.1 -0.6
IXC iShares Global Energy ETF 13.2 46 29 5.8 +3.1
RYE Invesco S&P 500 Equal Weight Energy ETF 12.1 40 35 3.6 +0.9
FENY Fidelity MSCI Energy Index ETF 11.3 8 67 4.2 +1.5
IYE iShares U.S. Energy ETF 11.0 42 33 4.0 +1.3
VDE Vanguard Energy Index Fund 11.0 10 65 3.9 +1.2
XLE Energy Select Sector SPDR Fund 10.4 13 62 4.5 +1.8
FLCA Franklin FTSE Canada ETF 9.9 9 66 7.4 +4.6
FXN First Trust Energy AlphaDEX Fund 9.4 65 10 -0.8 -3.5
QCAN SPDR MSCI Canada Quality Mix ETF 9.0 14 61 7.2 +4.4
BBCA JPMorgan BetaBuilders Canada ETF 8.8 19 56 7.1 +4.4
EWC iShares MSCI Canada ETF 8.7 49 26 6.9 +4.2
INFR Legg Mason Global Infrastructure ETF 7.8 40 35 6.1 +3.4
PID Invesco International Dividend Achievers ETF 7.4 54 21 9.7 +7.0
IGE iShares North American Natural Resources ETF 7.1 46 29 4.1 +1.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.1 47 28 6.5 +3.8
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 6.6 30 45 9.8 +7.1
VRAI Virtus Real Asset Income ETF 6.3 55 20 11.2 +8.5
IEO iShares U.S. Oil & Gas Exploration & Production ETF 6.1 42 33 3.5 +0.8
DIV Global X SuperDividend US ETF 6.0 46 29 7.1 +4.3
ABEQ Absolute Core Strategy ETF 5.3 85 -10 4.7 +2.0
DTN WisdomTree U.S. Dividend ex-Financials Fund 4.4 38 37 8.0 +5.3
IFRA iShares U.S. Infrastructure ETF 4.2 40 35 6.1 +3.4
SPYD SPDR S&P 500 High Dividend ETF 4.1 7 68 10.4 +7.7
GURU Global X Guru Index ETF 4.1 75 0 3.9 +1.1
SDOG ALPS Sector Dividend Dogs ETF 4.0 40 35 10.4 +7.6
FID First Trust S&P International Dividend Aristocrats ETF 4.0 60 15 9.8 +7.1
DES WisdomTree U.S. SmallCap Dividend Fund 3.9 38 37 8.8 +6.1
FIDI Fidelity International High Dividend ETF 3.8 39 36 11.0 +8.3
YLDE ClearBridge Dividend Strategy ESG ETF 3.7 60 15 5.0 +2.3
PEY Invesco High Yield Equity Dividend Achievers ETF 3.3 53 22 9.2 +6.5
FDVV Fidelity Core Dividend ETF 3.3 29 46 7.2 +4.5
WDIV SPDR Global Dividend ETF 3.1 40 35 9.9 +7.1
JDIV JPMorgan U.S. Dividend ETF 3.1 12 63 7.9 +5.2
CSD Invesco S&P Spin-Off ETF 3.0 62 13 6.4 +3.7
ECLN First Trust EIP Carbon Impact ETF 2.9 96 -21 3.8 +1.1
DURA VanEck Vectors Morningstar Durable Dividend ETF 2.8 29 46 7.2 +4.5
FOVL iShares Focused Value Factor ETF 2.8 25 50 10.6 +7.9
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 2.7 35 40 8.7 +6.0
MOAT VanEck Vectors Morningstar Wide Moat ETF 2.7 49 26 6.4 +3.7
XTN SPDR S&P Transportation ETF 2.6 35 40 5.7 +3.0
CVY Invesco Zacks Multi-Asset Income ETF 2.5 97 -22 11.6 +8.9
PUI Invesco DWA Utilities Momentum ETF 2.4 60 15 4.7 +2.0
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 2.4 45 30 10.0 +7.3
TPHD Timothy Plan High Dividend Stock ETF 2.2 52 23 7.7 +5.0
DEW WisdomTree Global High Dividend Fund 2.2 58 17 9.4 +6.7
GRES IQ Global Resources ETF 2.1 77 -2 7.6 +4.9
EQRR ProShares Equities for Rising Rates ETF 2.1 35 40 6.1 +3.4
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 2.1 35 40 8.7 +6.0
RYJ Invesco Raymond James SB-1 Equity ETF 2.1 82 -7 3.5 +0.8
PVAL Principal Contrarian Value Index ETF 2.0 29 46 10.2 +7.4
JKI iShares Morningstar Mid-Cap Value ETF 2.0 30 45 9.3 +6.6
EQAL Invesco Russell 1000 Equal Weight ETF 1.9 20 55 5.7 +3.0
GBDV Global Beta Smart Income ETF 1.9 29 46 8.8 +6.1
SFYF SoFi 50 ETF 1.9 29 46 5.4 +2.7
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 1.8 20 55 11.1 +8.4
JKL iShares Morningstar Small Cap Value ETF 1.8 30 45 10.5 +7.8
LVUS Hartford Multifactor Low Volatility US Equity ETF 1.8 19 56 6.1 +3.4
RDIV Invesco S&P Ultra Dividend Revenue ETF 1.7 39 36 11.2 +8.5
FCG First Trust Natural Gas ETF 1.7 60 15 3.8 +1.1
FNK First Trust Mid Cap Value AlphaDEX Fund 1.7 70 5 10.4 +7.7
WLDR Affinity World Leaders Equity ETF 1.7 47 28 9.7 +7.0
JMIN JPMorgan U.S. Minimum Volatility ETF 1.7 12 63 5.9 +3.2
FTA First Trust Large Cap Value AlphaDEX Fund 1.7 60 15 9.3 +6.6
DVY iShares Select Dividend ETF 1.7 39 36 9.7 +7.0
HAP VanEck Vectors Natural Resources ETF 1.6 50 25 6.4 +3.7
GCOW Pacer Global High Dividend ETF 1.6 60 15 10.4 +7.7
RFDA RiverFront Dynamic US Dividend Advantage ETF 1.5 52 23 5.1 +2.4
ISDX Invesco Strategic Developed ex-US ETF 1.5 23 52 7.6 +4.9
BFOR Barron's 400 ETF 1.4 65 10 6.4 +3.7
VYMI Vanguard International High Dividend Yield ETF 1.4 32 43 10.3 +7.5
NUMV Nuveen ESG Mid-Cap Value ETF 1.4 40 35 7.8 +5.1
QDIV Global X S&P 500 Quality Dividend ETF 1.4 20 55 7.7 +5.0
PWV Invesco Dynamic Large Cap Value ETF 1.4 55 20 8.9 +6.2
FCTR First Trust Lunt U.S. Factor Rotation ETF 1.4 65 10 3.4 +0.7
MAGA Point Bridge GOP Stock Tracker ETF 1.4 72 3 6.6 +3.9
DWX SPDR S&P International Dividend ETF 1.3 45 30 8.0 +5.3
FAB First Trust Multi Cap Value AlphaDEX Fund 1.3 71 4 9.7 +7.0
ONEY SPDR Russell 1000 Yield Focus ETF 1.3 20 55 9.4 +6.7
VOT Vanguard Mid-Cap Growth Index Fund 1.3 7 68 3.5 +0.8
DHS WisdomTree U.S. High Dividend Fund 1.3 38 37 8.7 +6.0
LVHI Legg Mason International Low Volatility High Dividend ETF 1.3 40 35 9.2 +6.5
HDV iShares Core High Dividend ETF 1.3 8 67 6.8 +4.1
IWS iShares Russell Mid-Cap Value ETF 1.2 24 51 7.3 +4.6
DON WisdomTree U.S. MidCap Dividend Fund 1.2 38 37 7.8 +5.1

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

  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:
Pacer American Energy Independence ETF
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 5.8 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 2.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.52
 
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.