Cambria Value & Momentum ETF
ALTAR
Score™
6.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.9x P/Sales
ratio
0.4x
P/BV
ratio
1.4x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Cambria Value and Momentum ETF is an actively managed portfolio of large-, mid- and small-cap US stocks selected by long-term value factors and midterm momentum factors. The managers have discretion to hedge up to 100% of the portfolio.

FUND BASICS
Category US Equities
Fund Sponsor Cambria
Website www.cambriafunds.com
Inception date Sep 08, 2015
Assets (mns) $11
Currency USD
Expense ratio 63 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $6,758
Large cap (>$10bn) 16.0%
Mid cap ($2-10bn) 43.5%
Small cap (<$2bn) 39.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MERITAGE HOMES CORP 1.8 %
BMC STOCK HOLDINGS, INC. 1.7 %
NAUTILUS INC 1.6 %
TOPBUILD CORP 1.6 %
STAMPS.COM INC 1.5 %
RENT-A-CENTER INC 1.5 %
RENEWABLE ENERGY GROUP INC 1.5 %
BUILDERS FIRSTSOURCE INC 1.4 %
TARGET CORP 1.4 %
LENNAR CORP-CL A 1.4 %
Total 15.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 84.5 %
ISRAEL 1.0 %
CANADA 0.7 %
BERMUDA 0.6 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.2% -8.7% -- -- -5.4%

Market Correlations
versus... Beta R-squared
S&P500 0.48 47%
MSCI EAFE 0.54 48%
MSCI Emg. Mkts. 0.39 41%

Technical Indicators
Recent close $17.97
30d moving avg. $17.81
Annualized volatility 12.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 1.12%
ADV underlying (mns) $410

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Cambria Value & Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with VAMO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VAMO Expense: 63 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VAMO
Ticker Fund
Name
Overlap1
vs VAMO
(%)
Expense
ratio
(bp)
Savings
vs VAMO
(bp)
ALTAR
Score™
(%)
ALTAR
vs VAMO
(%)
PXSG Invesco S&P SmallCap Momentum ETF 20.2 39 24 3.9 -2.2
VUSE Vident Core US Equity Fund 18.3 48 15 9.2 +3.0
AVUV Avantis U.S. Small Cap Value ETF 17.0 25 38 8.5 +2.4
ROGS Hartford Multifactor Global Small Cap ETF 16.2 34 29 8.5 +2.3
CALF Pacer US Small Cap Cash Cows 100 ETF 15.7 59 4 9.5 +3.4
RZV Invesco S&P Smallcap 600 Pure Value ETF 14.2 35 28 8.8 +2.6
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 13.7 24 39 6.7 +0.6
XSHQ Invesco S&P SmallCap Quality ETF 13.3 29 34 7.0 +0.9
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 13.0 30 33 7.9 +1.7
XSVM Invesco S&P SmallCap Value with Momentum ETF 12.9 39 24 9.9 +3.7
VFMF Vanguard U.S. Multifactor ETF 12.7 19 44 7.6 +1.5
FYT First Trust Small Cap Value AlphaDEX Fund 12.5 72 -9 10.0 +3.9
AFSM First Trust Active Factor Small Cap ETF 11.8 75 -12 5.7 -0.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 11.7 39 24 7.6 +1.4
SYLD Cambria Shareholder Yield ETF 11.4 59 4 9.2 +3.1
EES WisdomTree SmallCap Earnings Fund 11.2 38 25 10.8 +4.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 11.0 29 34 5.3 -0.9
IJS iShares S&P Small-cap 600 Value ETF 10.6 25 38 9.3 +3.2
SLYV SPDR S&P 600 Small Cap Value ETF 10.6 15 48 9.3 +3.2
FYX First Trust Small Cap Core AlphaDEX Fund 10.4 63 0 6.5 +0.3
VIOV Vanguard S&P Small-Cap 600 Value ETF 10.4 15 48 9.4 +3.3
SPVM Invesco S&P 500 Value with Momentum ETF 10.2 39 24 9.0 +2.9
ISMD Inspire Small/Mid Cap Impact ETF 10.0 60 3 6.4 +0.2
IJR iShares Core S&P Small Cap ETF 9.7 6 57 7.4 +1.2
RZG Invesco S&P Smallcap 600 Pure Growth ETF 9.7 35 28 6.1 -0.0
SLY SPDR S&P 600 Small Cap ETF 9.7 15 48 7.3 +1.1
SPSM SPDR Portfolio Small Cap ETF 9.7 5 58 7.4 +1.3
VIOO Vanguard S&P Small-Cap 600 ETF 9.6 10 53 7.3 +1.2
XRT SPDR S&P Retail ETF 9.5 35 28 6.0 -0.1
TPSC Timothy Plan US Small Cap Core ETF 9.4 52 11 8.4 +2.3
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 9.3 29 34 8.4 +2.2
DWAS Invesco DWA SmallCap Momentum ETF 9.3 60 3 -2.1 -8.2
PSCI Invesco S&P SmallCap Industrials ETF 9.3 29 34 6.8 +0.6
ITB iShares U.S. Home Construction ETF 9.1 42 21 7.5 +1.4
BUY USCF SummerHaven SHPEI Index Fund 9.0 80 -17 9.1 +3.0
IJT iShares S&P Small-Cap 600 Growth ETF 8.8 25 38 5.5 -0.6
SLYG SPDR S&P 600 Small Cap Growth ETF 8.7 15 48 5.6 -0.5
PKB Invesco Dynamic Building & Construction ETF 8.5 59 4 6.3 +0.2
SQLV Legg Mason Small-Cap Quality Value 8.4 62 1 6.7 +0.6
VIOG Vanguard S&P Small-Cap 600 Growth ETF 8.4 16 47 5.6 -0.6
VFVA Vanguard U.S. Value Factor ETF 8.3 14 49 11.5 +5.3
COWZ Pacer US Cash Cows 100 ETF 8.3 49 14 11.8 +5.7
IWN iShares Russell 2000 Value ETF 7.9 24 39 7.2 +1.1
SPGP Invesco S&P 500 GARP ETF 7.8 34 29 7.1 +1.0
JSML Janus Henderson Small Cap Growth Alpha ETF 7.8 30 33 8.4 +2.3
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 7.8 35 28 6.2 +0.1
PWC Invesco Dynamic Market ETF 7.7 58 5 5.9 -0.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 7.6 39 24 4.8 -1.3
BFOR Barron's 400 ETF 7.6 65 -2 6.7 +0.6
QVAL Alpha Architect U.S. Quantitative Value ETF 7.6 49 14 10.9 +4.8
AFMC First Trust Active Factor Mid Cap ETF 7.5 65 -2 6.5 +0.4
IFRA iShares U.S. Infrastructure ETF 7.5 40 23 6.0 -0.2
DES WisdomTree U.S. SmallCap Dividend Fund 7.3 38 25 8.9 +2.7
SSLY Syntax Stratified SmallCap ETF 7.3 30 33 6.9 +0.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 7.3 20 43 5.1 -1.0
ONEO SPDR Russell 1000 Momentum Focus ETF 7.2 20 43 6.5 +0.4
FYC First Trust Small Cap Growth AlphaDEX Fund 7.2 70 -7 2.0 -4.2
PEZ Invesco DWA Consumer Cyclicals Momentum ETF 7.2 60 3 0.4 -5.8
VLUE iShares Edge MSCI USA Value Factor ETF 7.2 15 48 11.7 +5.5
FAB First Trust Multi Cap Value AlphaDEX Fund 7.1 71 -8 10.1 +4.0
JKL iShares Morningstar Small Cap Value ETF 7.1 30 33 10.5 +4.4
HOMZ Hoya Capital Housing ETF 7.1 30 33 7.5 +1.4
XSLV Invesco S&P SmallCap Low Volatility ETF 6.9 25 38 5.8 -0.3
XOP SPDR S&P Oil & Gas Exploration & Production ETF 6.9 35 28 4.6 -1.6
IUSS Invesco Strategic US Small Company ETF 6.8 23 40 5.4 -0.7
PSC Principal U.S. Small Cap Index ETF 6.8 38 25 7.1 +1.0
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 6.8 38 25 9.1 +3.0
FSMD Fidelity Small-Mid Factor ETF 6.8 29 34 6.5 +0.4
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 6.8 40 23 7.7 +1.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 6.7 17 46 6.4 +0.3
CSML IQ Chaikin U.S. Small Cap ETF 6.6 35 28 4.1 -2.1
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 6.6 35 28 8.3 +2.2
ROUS Hartford Multifactor US Equity ETF 6.6 19 44 6.5 +0.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.5 25 38 7.7 +1.5
FTA First Trust Large Cap Value AlphaDEX Fund 6.4 60 3 9.4 +3.3
VALQ American Century STOXX U.S. Quality Value ETF 6.3 29 34 9.1 +3.0
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 6.2 35 28 10.6 +4.4
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 6.2 60 3 8.2 +2.0
VFQY Vanguard U.S. Quality Factor ETF 6.1 13 50 6.6 +0.5
XTN SPDR S&P Transportation ETF 6.1 35 28 4.4 -1.8
RNSC Small Cap US Equity Select ETF 6.1 60 3 7.3 +1.2
IWM iShares Russell 2000 ETF 6.0 19 44 3.5 -2.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 6.0 19 44 6.5 +0.4
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 6.0 125 -62 -3.2 -9.3
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 6.0 29 34 6.1 -0.0
USMF WisdomTree U.S. Multifactor Fund 5.9 28 35 5.8 -0.3
VTWV Vanguard Russell 2000 Value Index Fund 5.9 15 48 7.4 +1.2
VTWO Vanguard Russell 2000 Index Fund 5.9 10 53 3.8 -2.4
LRGF iShares Edge MSCI Multifactor USA ETF 5.8 20 43 7.6 +1.5
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 5.8 29 34 0.2 -6.0
LSAF LeaderShares AlphaFactor US Core Equity ETF 5.7 75 -12 6.2 +0.0
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 5.7 20 43 7.6 +1.5
VBR Vanguard Small Cap Value Index Fund 5.7 7 56 8.5 +2.3
JHSC John Hancock Multifactor Small Cap ETF 5.7 42 21 5.9 -0.3
FCPI Fidelity Stocks for Inflation ETF 5.6 29 34 6.7 +0.6
VFMO Vanguard U.S. Momentum Factor ETF 5.6 13 50 0.8 -5.3
JVAL JPMorgan U.S. Value Factor ETF 5.5 12 51 8.6 +2.5
RYJ Invesco Raymond James SB-1 Equity ETF 5.5 76 -13 3.5 -2.6
FCG First Trust Natural Gas ETF 5.5 60 3 1.3 -4.8
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 5.5 30 33 9.4 +3.3

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

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.6 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 63 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.51
 
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.