Vanguard Materials Index Fund
ALTAR
Score™
8.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.3x P/Sales
ratio
1.0x
P/BV
ratio
1.5x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard Materials ETF seeks to track the performance of the MSCI US Investable Market Materials Index.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Jan 30, 2004
Assets (mns) $1,139
Currency USD
Expense ratio 10 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 114
Wgt avg mkt cap (mns) $530,633,000,000
Large cap (>$10bn) 67.3%
Mid cap ($2-10bn) 25.0%
Small cap (<$2bn) 7.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PRAXAIR INC 14.3 %
AIR PRODUCTS & CHEMICALS INC 6.8 %
ECOLAB INC 6.2 %
SHERWIN-WILLIAMS CO/THE 5.9 %
NEWMONT MINING CORP 5.7 %
DOW CHEMICAL 3.9 %
DOW, INC. 3.3 %
BALL CORP 3.1 %
PPG INDUSTRIES INC 3.0 %
VULCAN MATERIALS CO 2.2 %
Total 54.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 79.8 %
BRITAIN 16.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-27.9% -20.2% -0.3% 5.2% 6.3%

Market Correlations
versus... Beta R-squared
S&P500 1.14 87%
MSCI EAFE 1.12 81%
MSCI Emg. Mkts. 0.87 72%

Technical Indicators
Recent close $91.81
30d moving avg. $104.75
Annualized volatility 18.6%
Short interest (ETF) 0.3%
Short interest (Underlying) 3.5%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 315
Turnover 2.5%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $9,532

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Vanguard Materials Index Fund ETF based on the alternatives' overlap in portfolio holdings with VAW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VAW Expense: 10 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VAW
Ticker Fund
Name
Overlap1
vs VAW
(%)
Expense
ratio
(bp)
Savings
vs VAW
(bp)
ALTAR
Score™
(%)
ALTAR
vs VAW
(%)
FMAT Fidelity MSCI Materials Index ETF 94.6 8 2 8.8 -0.0
XLB Materials Select Sector SPDR Fund 75.2 13 -3 8.4 -0.4
JHMA John Hancock Multifactor Materials ETF 67.9 40 -30 9.2 +0.4
IYM iShares U.S. Basic Materials ETF 66.8 42 -32 8.3 -0.5
RTM Invesco S&P 500 Equal Weight Materials ETF 56.2 40 -30 8.8 -0.1
PYZ Invesco DWA Basic Materials Momentum ETF 40.6 60 -50 7.6 -1.2
FXZ First Trust Materials AlphaDEX Fund 39.3 65 -55 10.4 +1.5
MXI iShares Global Materials ETF 33.7 46 -36 8.7 -0.2
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 22.4 60 -50 9.2 +0.4
IGE iShares North American Natural Resources ETF 19.9 46 -36 6.4 -2.4
EQRR ProShares Equities for Rising Rates ETF 15.5 35 -25 12.0 +3.2
XME SPDR S&P Metals & Mining ETF 13.6 35 -25 13.2 +4.4
TPHD Timothy Plan High Dividend Stock ETF 11.8 52 -42 9.5 +0.7
PEXL Pacer US Export Leaders ETF 11.3 60 -50 9.1 +0.3
PAVE Global X U.S. Infrastructure Development ETF 10.7 47 -37 8.1 -0.7
YLDE ClearBridge Dividend Strategy ESG ETF 10.7 60 -50 6.3 -2.5
VOE Vanguard Mid-Cap Value Index Fund 10.6 7 3 10.9 +2.1
NANR SPDR S&P North American Natural Resources ETF 10.3 35 -25 5.7 -3.2
COWZ Pacer US Cash Cows 100 ETF 10.2 49 -39 13.8 +4.9
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 10.2 75 -65 7.2 -1.7
NOBL ProShares S&P 500 Dividend Aristocrats ETF 10.2 35 -25 7.6 -1.3
GNR SPDR S&P Global Natural Resources ETF 10.1 40 -30 9.1 +0.2
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 9.8 24 -14 8.5 -0.4
ONEY SPDR Russell 1000 Yield Focus ETF 9.8 20 -10 12.2 +3.4
LVUS Hartford Multifactor Low Volatility US Equity ETF 9.7 19 -9 7.7 -1.1
DAX Global X DAX Germany ETF 9.5 20 -10 10.8 +1.9
JPUS JPMorgan Diversified Return U.S. Equity ETF 9.4 19 -9 8.5 -0.4
JDIV JPMorgan U.S. Dividend ETF 9.4 12 -2 10.9 +2.1
CZA Invesco Zacks Mid-Cap ETF 9.0 76 -66 9.5 +0.6
DIET Defiance Next Gen Food & Agriculture ETF 8.8 30 -20 6.4 -2.5
EQAL Invesco Russell 1000 Equal Weight ETF 8.7 20 -10 7.8 -1.1
RDIV Invesco S&P Ultra Dividend Revenue ETF 8.6 39 -29 15.3 +6.4
FDVV Fidelity Core Dividend ETF 8.5 29 -19 9.9 +1.1
TPLC Timothy Plan US Large Cap Core ETF 8.5 52 -42 7.4 -1.4
TMDV ProShares Russell US Dividend Growers ETF 8.5 35 -25 6.7 -2.2
CUT Invesco MSCI Global Timber ETF 8.4 55 -45 12.0 +3.1
FNK First Trust Mid Cap Value AlphaDEX Fund 8.2 70 -60 16.1 +7.2
DON WisdomTree U.S. MidCap Dividend Fund 8.2 38 -28 11.1 +2.3
IFRA iShares U.S. Infrastructure ETF 7.8 40 -30 7.8 -1.1
FAB First Trust Multi Cap Value AlphaDEX Fund 7.8 71 -61 13.4 +4.6
JKI iShares Morningstar Mid-Cap Value ETF 7.8 30 -20 13.6 +4.8
PVAL Principal Contrarian Value Index ETF 7.7 29 -19 10.7 +1.8
QSY WisdomTree U.S. LargeCap Value Fund 7.7 38 -28 9.7 +0.9
SDOG ALPS Sector Dividend Dogs ETF 7.6 40 -30 14.2 +5.3
DTN WisdomTree U.S. Dividend ex-Financials Fund 7.5 38 -28 10.4 +1.6
GUNR Flexshares Morningstar Global Upstream Natural Resources 7.5 46 -36 8.3 -0.5
DVY iShares Select Dividend ETF 7.2 39 -29 11.1 +2.2
HAP VanEck Vectors Natural Resources ETF 7.2 50 -40 8.7 -0.2
SPDV AAM S&P 500 High Dividend Value ETF 7.0 29 -19 14.8 +5.9
EZM WisdomTree U.S. MidCap Earnings Fund 7.0 38 -28 13.9 +5.0
RWK Invesco S&P MidCap 400 Revenue ETF 6.9 39 -29 11.7 +2.9
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 6.9 20 -10 10.3 +1.5
GDX VanEck Vectors Gold Miners ETF 6.8 52 -42 4.3 -4.6
SGDM Sprott Gold Miners ETF 6.8 50 -40 3.5 -5.4
VBR Vanguard Small Cap Value Index Fund 6.8 7 3 12.1 +3.3
SDY SPDR S&P Dividend ETF 6.8 35 -25 8.3 -0.5
PICK iShares MSCI Global Metals & Mining Producers ETF 6.8 39 -29 11.1 +2.3
ONEV SPDR Russell 1000 Low Volatility Focus ETF 6.7 20 -10 9.6 +0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 6.7 20 -10 9.5 +0.7
EWMC Invesco S&P MidCap 400 Equal Weight ETF 6.6 40 -30 9.8 +1.0
DVP Deep Value ETF 6.6 59 -49 22.4 +13.5
FTA First Trust Large Cap Value AlphaDEX Fund 6.6 60 -50 12.3 +3.4
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 6.5 48 -38 8.9 +0.1
IWS iShares Russell Mid-Cap Value ETF 6.5 24 -14 10.1 +1.2
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 6.5 49 -39 11.4 +2.5
SPHB Invesco S&P 500 High Beta ETF 6.4 25 -15 11.7 +2.8
MAGA Point Bridge GOP Stock Tracker ETF 6.4 72 -62 9.6 +0.8
SCHM Schwab U.S. Mid-Cap ETF 6.4 4 6 9.1 +0.2
ESGS Columbia Sustainable U.S. Equity Income ETF 6.4 35 -25 12.3 +3.4
ITB iShares U.S. Home Construction ETF 6.4 42 -32 14.3 +5.5
FTCS First Trust Capital Strength ETF 6.3 60 -50 6.3 -2.6
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 6.3 35 -25 11.6 +2.7
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 6.3 17 -7 9.0 +0.2
VO Vanguard Mid-Cap Index Fund 6.3 4 6 7.7 -1.1
SYLD Cambria Shareholder Yield ETF 6.2 59 -49 15.4 +6.6
PIO Invesco Global Water ETF 6.2 75 -65 5.3 -3.5
PHO Invesco Water Resources ETF 6.2 60 -50 5.1 -3.8
RBUS Nationwide Risk-Based U.S. Equity ETF 6.2 30 -20 7.3 -1.5
FVL First Trust Value Line 100 Exchange-Traded Fund 6.2 70 -60 5.7 -3.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 6.1 29 -19 10.6 +1.8
GRES IQ Global Resources ETF 6.1 77 -67 9.4 +0.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 6.1 29 -19 9.3 +0.5
RNMC Mid Cap US Equity Select ETF 6.1 60 -50 10.1 +1.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.0 25 -15 9.7 +0.9
SLT Salt TruBeta High Exposure ETF 6.0 29 -19 12.4 +3.6
BUL Pacer US Cash Cows Growth ETF 6.0 60 -50 8.1 -0.7
MDYV SPDR S&P 400 Mid Cap Value ETF 5.9 15 -5 12.2 +3.3
IJJ iShares S&P Mid-Cap 400 Value ETF 5.9 25 -15 12.1 +3.2
IVOV Vanguard S&P Mid-Cap 400 Value ETF 5.9 15 -5 12.3 +3.5
KLCD KFA Large Cap Quality Dividend Index ETF 5.9 41 -31 6.8 -2.1
FNX First Trust Mid Cap Core AlphaDEX Fund 5.9 61 -51 10.2 +1.4
MDY SPDR S&P Midcap 400 ETF Trust 5.9 23 -13 9.0 +0.2
SPMD SPDR Portfolio Mid Cap ETF 5.9 5 5 9.2 +0.3
WBIY WBI Power Factor High Dividend ETF 5.9 70 -60 21.7 +12.8
IJH iShares Core S&P Mid-Cap ETF 5.9 6 4 9.2 +0.3
IVOO Vanguard S&P Mid-Cap 400 ETF 5.9 10 0 9.1 +0.3
SLVP iShares MSCI Global Silver Miners ETF 5.9 39 -29 2.8 -6.0
RING iShares MSCI Global Gold Miners ETF 5.8 39 -29 5.0 -3.8
IUSS Invesco Strategic US Small Company ETF 5.8 23 -13 9.0 +0.2
JMIN JPMorgan U.S. Minimum Volatility ETF 5.8 12 -2 7.3 -1.5

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:
Vanguard Materials Index Fund
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 13.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.