Validea Market Legends
ALTAR
Score™
8.1% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.8x P/Sales
ratio
0.5x
P/BV
ratio
1.3x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Validea Market Legends ETF is an exchange-traded fund incorporated in the USA. The Fund uses an actively managed strategy to seek capital appreciation with a secondary focus on income. The ETF will invest in equity securities of U.S. companies and foreign equity securities traded in the U.S.

FUND BASICS
Category US Equities
Fund Sponsor Validea Capital Management LLC
Website www.valideacapital.com
Inception date Dec 10, 2014
Assets (mns) $22
Currency USD
Expense ratio 79 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Proprietary
Index replication Not Applicable
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 81
Wgt avg mkt cap (mns) $9,868
Large cap (>$10bn) 20.0%
Mid cap ($2-10bn) 47.4%
Small cap (<$2bn) 31.4%
Developed mkts 94.0%
Emerging mkts 6.0%

TOP TEN HOLDINGS
REALOGY HOLDINGS CORP 2.4 %
BOISE CASCADE CO 1.8 %
TENET HEALTHCARE CORP 1.7 %
STMICROELECTRONICS NV-NY SHS 1.6 %
BUCKLE INC/THE 1.6 %
EL POLLO LOCO HOLDINGS INC 1.6 %
GROUP 1 AUTOMOTIVE INC 1.6 %
SCHNEIDER NATIONAL, INC. CLASS B 1.5 %
WINNEBAGO INDUSTRIES 1.5 %
XEROX CORP 1.5 %
Total 16.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 80.3 %
BRAZIL 2.5 %
SPAIN 2.4 %
LUXEMBOURG 2.2 %
CANADA 2.1 %
BRITAIN 2.0 %
SWITZERLAND 1.6 %
RUSSIA 1.4 %
JAPAN 1.3 %
NETHERLANDS 1.2 %

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.
13.1% -0.8% -- -- 1.5%

Market Correlations
versus... Beta R-squared
S&P500 1.23 74%
MSCI EAFE 1.21 59%
MSCI Emg. Mkts. 0.86 48%

Technical Indicators
Recent close $26.90
30d moving avg. $26.89
Annualized volatility 17.3%
Short interest (ETF) 0.0%
Short interest (Underlying) 6.5%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $4,844

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: VALX Expense: 79 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VALX
Ticker Fund
Name
Overlap1
vs VALX
(%)
Expense
ratio
(bp)
Savings
vs VALX
(bp)
ALTAR
Score™
(%)
ALTAR
vs VALX
(%)
SYLD Cambria Shareholder Yield 18.4 59 20 8.9 +0.7
PXMV Invesco Fundamental Pure Mid Value 13.9 39 40 8.5 +0.3
XRT SPDR S&P Retail 12.1 35 44 8.9 +0.7
FYT First Trust Small Cap Value AlphaDEX 11.7 76 3 7.2 -0.9
PSCD Invesco S&P Small Cap Consumer Discretionary 11.5 29 50 8.2 +0.0
VUSE Vident Core US Equity 10.4 50 29 7.4 -0.7
RFV Invesco S&P Midcap 400 Pure Value 10.4 35 44 9.4 +1.3
RPV Invesco S&P 500 Pure Value ETF 10.3 35 44 9.8 +1.7
CVY Invesco Multi-Asset Income 10.2 97 -18 9.2 +1.1
FLAG Forensic Accounting 10.0 152 -73 8.4 +0.3
XSVM Invesco S&P SmallCap Value with Momentum 10.0 39 40 8.2 +0.0
RZV Invesco S&P Smallcap 600 Pure Value 10.0 35 44 6.6 -1.6
SLX VanEck Vectors Steel 9.6 56 23 12.1 +4.0
RWK Invesco S&P MidCap 400 Revenue ETF 9.6 39 40 7.7 -0.4
RWJ Invesco S&P SmallCap 600 Revenue ETF 9.1 39 40 -5.2 -13.4
FXD First Trust Consumer Discretionary 9.0 64 15 8.0 -0.2
SPVU Invesco S&P 500 Value 8.8 13 66 11.0 +2.9
SLT Salt TruBeta High Exposure 8.8 29 50 6.4 -1.8
CSB Victory CEMP US Small Cap High Div Volatility Wtd 8.7 35 44 7.3 -0.9
VAMO Cambria Value & Momentum 8.7 64 15 6.2 -2.0

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

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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:
Validea Market Legends
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 10.4 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 79 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.