Cambria Value & Momentum
ALTAR
Score™
6.2% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
14.6x P/Sales
ratio
0.6x
P/BV
ratio
1.7x Div.
yield
1.4%


  • 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 09, 2015
Assets (mns) $14
Currency USD
Expense ratio 64 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 100
Wgt avg mkt cap (mns) $10,370
Large cap (>$10bn) 15.2%
Mid cap ($2-10bn) 51.9%
Small cap (<$2bn) 32.9%
Developed mkts 97.7%
Emerging mkts 2.4%

TOP TEN HOLDINGS
FTI CONSULTING INC 1.9 %
FIDELITY NATIONAL FINANCIAL INC - 1.7 %
OLD REPUBLIC INTL CORP 1.6 %
ORIENTAL FINANCIAL GROUP 1.6 %
EHEALTH INC 1.5 %
KBR INC 1.5 %
COSAN LTD-CLASS A SHARES 1.4 %
WORLD FUEL SERVICES CORP 1.4 %
CARVANA CO. CLASS A 1.3 %
TARGET CORP 1.2 %
Total 15.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 81.9 %
BERMUDA 4.5 %
PUERTO RICO 3.5 %
BRAZIL 1.4 %
CAYMAN ISLANDS 0.8 %
CANADA 0.8 %
BAHAMAS 0.8 %
IRELAND 0.8 %



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.
-5.1% -9.2% -- -- -3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.46 37%
MSCI EAFE 0.45 28%
MSCI Emg. Mkts. 0.27 16%

Technical Indicators
Recent close $20.47
30d moving avg. $20.46
Annualized volatility 9.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.1%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $7,916

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Cambria Value & Momentum 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: 64 bp ALTAR Score™: 6.2%


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
(%)
VUSE Vident Core US Equity 18.2 50 14 7.4 +1.3
SYLD Cambria Shareholder Yield 18.1 59 5 8.9 +2.7
RZV Invesco S&P Smallcap 600 Pure Value 17.0 35 29 6.6 +0.4
PXMV Invesco Fundamental Pure Mid Value 14.9 39 25 8.5 +2.3
VFMF Vanguard U.S. Multifactor 14.3 18 46 6.8 +0.6
XSVM Invesco S&P SmallCap Value with Momentum 14.1 39 25 8.2 +2.0
DVLU First Trust Dorsey Wright Momentum & Value 13.7 60 4 8.4 +2.3
USVM USAA MSCI USA Small Cap Value Momentum Blend Index 12.9 24 40 6.5 +0.3
FLAG Forensic Accounting 12.7 152 -88 8.4 +2.2
ULVM USAA MSCI USA Value Momentum Blend Index 11.9 20 44 7.5 +1.4
EES WisdomTree SmallCap Earnings 11.8 38 26 9.1 +2.9
RWK Invesco S&P MidCap 400 Revenue ETF 11.5 39 25 7.7 +1.6
IJS iShares S&P 600 SmallCap Value 11.4 25 39 6.7 +0.6
SLYV SPDR S&P600 Small Cap Value 11.4 15 49 6.8 +0.7
VIOV Vanguard S&P Small-Cap 600 Value 11.3 20 44 6.8 +0.7
PXSG Invesco Fundamental Pure Small Growth 11.0 39 25 4.6 -1.6
FNK First Trust Mid Cap Value AlphaDEX 11.0 70 -6 8.9 +2.8
MDYV SPDR S&P400 Mid Cap Value 10.9 15 49 7.5 +1.3
IJJ iShares S&P MidCap 400 Value 10.9 25 39 7.3 +1.2
IVOV Vanguard S&P Mid-Cap 400 Value 10.9 20 44 7.4 +1.2

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 Value & Momentum
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 10.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 64 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.