Vanguard Materials Index Fund
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
27.1x P/Sales
ratio
1.6x
P/BV
ratio
2.3x Div.
yield
2.0%


  • 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 26, 2004
Assets (mns) $1,620
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 116
Wgt avg mkt cap (mns) $42,490
Large cap (>$10bn) 74.5%
Mid cap ($2-10bn) 20.5%
Small cap (<$2bn) 5.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PRAXAIR INC 14.6 %
AIR PRODUCTS & CHEMICALS INC 6.9 %
NEWMONT MINING CORP 6.2 %
SHERWIN-WILLIAMS CO/THE 6.0 %
ECOLAB INC 5.3 %
DOW CHEMICAL 4.4 %
DOW, INC. 3.3 %
PPG INDUSTRIES INC 2.8 %
BALL CORP 2.7 %
CORTEVA INC 2.4 %
Total 54.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 79.8 %
BRITAIN 18.2 %
LUXEMBOURG 0.1 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.8% 3.3% 7.1% 9.0% 8.1%

Market Correlations
versus... Beta R-squared
S&P500 1.18 90%
MSCI EAFE 1.24 84%
MSCI Emg. Mkts. 0.92 75%

Technical Indicators
Recent close $131.97
30d moving avg. $126.69
Annualized volatility 21.4%
Short interest (ETF) 0.4%
Short interest (Underlying) 3.5%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 113
Turnover 0.9%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $6,506

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™: 5.7%


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 97.9 8 2 5.7 -0.0
XLB Materials Select Sector SPDR Fund 77.5 13 -3 5.6 -0.2
IYM iShares U.S. Basic Materials ETF 69.8 42 -32 5.0 -0.7
JHMA John Hancock Multifactor Materials ETF 68.6 40 -30 6.5 +0.7
RTM Invesco S&P 500 Equal Weight Materials ETF 55.0 40 -30 5.9 +0.2
PYZ Invesco DWA Basic Materials Momentum ETF 42.4 60 -50 5.3 -0.5
MXI iShares Global Materials ETF 35.7 46 -36 5.7 -0.0
FXZ First Trust Materials AlphaDEX Fund 30.6 65 -55 7.2 +1.5
IGE iShares North American Natural Resources ETF 20.3 46 -36 4.0 -1.7
EQRR ProShares Equities for Rising Rates ETF 16.5 35 -25 6.8 +1.1
XME SPDR S&P Metals & Mining ETF 13.8 35 -25 7.0 +1.3
NANR SPDR S&P North American Natural Resources ETF 13.6 35 -25 3.4 -2.4
GNR SPDR S&P Global Natural Resources ETF 12.7 40 -30 6.3 +0.6
NOBL ProShares S&P 500 Dividend Aristocrats ETF 12.3 35 -25 6.0 +0.2
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 12.3 75 -65 5.6 -0.2
DAX Global X DAX Germany ETF 11.2 21 -11 7.5 +1.8
GUNR Flexshares Morningstar Global Upstream Natural Resources 10.8 46 -36 5.4 -0.3
CZA Invesco Zacks Mid-Cap ETF 10.7 76 -66 6.0 +0.2
YLDE ClearBridge Dividend Strategy ESG ETF 10.5 60 -50 4.8 -1.0
JDIV JPMorgan U.S. Dividend ETF 10.5 12 -2 7.7 +2.0
LVUS Hartford Multifactor Low Volatility US Equity ETF 10.3 19 -9 6.0 +0.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 10.2 18 -8 6.0 +0.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 9.7 24 -14 6.0 +0.2
PAVE Global X U.S. Infrastructure Development ETF 9.6 47 -37 5.4 -0.3
ONEY SPDR Russell 1000 Yield Focus ETF 9.3 20 -10 9.0 +3.3
DON WisdomTree U.S. MidCap Dividend Fund 9.3 38 -28 7.4 +1.7
DTN WisdomTree U.S. Dividend ex-Financials Fund 9.2 38 -28 7.7 +2.0
PEXL Pacer US Export Leaders ETF 9.1 60 -50 5.6 -0.1
FDVV Fidelity Core Dividend ETF 9.1 29 -19 7.0 +1.3
SDY SPDR S&P Dividend ETF 9.0 35 -25 6.9 +1.1
VOE Vanguard Mid-Cap Value Index Fund 9.0 7 3 7.6 +1.9
CUT Invesco MSCI Global Timber ETF 8.8 61 -51 8.9 +3.1
EQAL Invesco Russell 1000 Equal Weight ETF 8.7 20 -10 5.4 -0.3
KLCD KFA Large Cap Quality Dividend Index ETF 8.7 41 -31 5.1 -0.7
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 8.5 29 -19 9.4 +3.6
TMDV ProShares Russell US Dividend Growers ETF 8.5 35 -25 5.5 -0.2
IFRA iShares U.S. Infrastructure ETF 8.2 40 -30 5.7 -0.0
COWZ Pacer US Cash Cows 100 ETF 8.2 49 -39 10.4 +4.7
GDX VanEck Vectors Gold Miners ETF 7.8 52 -42 2.4 -3.4
SGDM Sprott Gold Miners ETF 7.8 50 -40 2.3 -3.5
RDIV Invesco S&P Ultra Dividend Revenue ETF 7.8 39 -29 11.0 +5.3
RPV Invesco S&P 500 Pure Value ETF 7.8 35 -25 10.9 +5.1
QDIV Global X S&P 500 Quality Dividend ETF 7.7 20 -10 7.5 +1.8
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 7.7 63 -53 6.2 +0.5
QSY WisdomTree U.S. LargeCap Value Fund 7.5 38 -28 6.7 +0.9
MAGA Point Bridge GOP Stock Tracker ETF 7.4 72 -62 6.3 +0.6
GRES IQ Global Resources ETF 7.4 77 -67 7.3 +1.6
EZM WisdomTree U.S. MidCap Earnings Fund 7.3 38 -28 8.8 +3.1
SPYD SPDR S&P 500 High Dividend ETF 7.2 7 3 10.5 +4.8
VBR Vanguard Small Cap Value Index Fund 7.2 7 3 8.1 +2.3
JMIN JPMorgan U.S. Minimum Volatility ETF 7.2 12 -2 5.4 -0.4
SPDV AAM S&P 500 High Dividend Value ETF 7.2 29 -19 10.6 +4.9
JKG iShares Morningstar Mid-Cap ETF 7.1 25 -15 5.3 -0.5
PICK iShares MSCI Global Metals & Mining Producers ETF 7.1 39 -29 6.7 +1.0
HAP VanEck Vectors Natural Resources ETF 7.1 50 -40 6.0 +0.2
ESGS Columbia Sustainable U.S. Equity Income ETF 6.9 35 -25 8.3 +2.6
SLVP iShares MSCI Global Silver Miners ETF 6.7 39 -29 1.2 -4.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 6.6 40 -30 6.8 +1.1
SDOG ALPS Sector Dividend Dogs ETF 6.6 40 -30 10.1 +4.4
ABEQ Absolute Core Strategy ETF 6.6 85 -75 4.5 -1.3
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 6.6 20 -10 9.2 +3.5
IWS iShares Russell Mid-Cap Value ETF 6.6 24 -14 7.0 +1.2
DVY iShares Select Dividend ETF 6.6 39 -29 9.4 +3.7
PVAL Principal Contrarian Value Index ETF 6.6 29 -19 9.8 +4.1
PY Principal Shareholder Yield Index ETF 6.6 29 -19 9.0 +3.3
RING iShares MSCI Global Gold Miners ETF 6.5 39 -29 2.8 -3.0
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 6.5 60 -50 8.5 +2.7
RWK Invesco S&P MidCap 400 Revenue ETF 6.5 39 -29 7.7 +1.9
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 6.5 35 -25 8.4 +2.7
JKI iShares Morningstar Mid-Cap Value ETF 6.3 30 -20 8.9 +3.1
RVRS Reverse Cap Weighted U.S. Large Cap ETF 6.3 29 -19 7.8 +2.1
VFVA Vanguard U.S. Value Factor ETF 6.3 14 -4 11.0 +5.2
FAB First Trust Multi Cap Value AlphaDEX Fund 6.3 71 -61 9.7 +4.0
SCHM Schwab U.S. Mid-Cap ETF 6.2 4 6 6.0 +0.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.2 25 -15 6.2 +0.5
SYLD Cambria Shareholder Yield ETF 6.1 59 -49 8.9 +3.2
CWS AdvisorShares Focused Equity ETF 6.1 85 -75 5.1 -0.6
MDY SPDR S&P Midcap 400 ETF Trust 6.1 23 -13 6.2 +0.4
CSD Invesco S&P Spin-Off ETF 6.1 62 -52 6.1 +0.4
IJH iShares Core S&P Mid-Cap ETF 6.1 6 4 6.3 +0.6
SPMD SPDR Portfolio Mid Cap ETF 6.1 5 5 6.3 +0.6
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 6.1 17 -7 6.3 +0.6
RNMC Mid Cap US Equity Select ETF 6.0 60 -50 7.3 +1.6
IVOO Vanguard S&P Mid-Cap 400 ETF 6.0 10 0 6.2 +0.5
VEGI iShares MSCI Global Agriculture Producers ETF 6.0 39 -29 5.7 -0.0
FTAG First Trust Indxx Global Agriculture ETF 6.0 70 -60 6.3 +0.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 6.0 29 -19 6.7 +1.0
IYJ iShares U.S. Industrials ETF 5.9 42 -32 5.6 -0.2
HLAL Wahed FTSE USA Shariah ETF 5.8 50 -40 4.3 -1.4
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 5.8 29 -19 4.7 -1.0
MDYV SPDR S&P 400 Mid Cap Value ETF 5.7 15 -5 8.3 +2.6
FNK First Trust Mid Cap Value AlphaDEX Fund 5.7 70 -60 10.8 +5.1
IJJ iShares S&P Mid-Cap 400 Value ETF 5.7 25 -15 8.2 +2.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 5.7 20 -10 6.8 +1.0
IVOV Vanguard S&P Mid-Cap 400 Value ETF 5.7 15 -5 8.3 +2.6
GBDV Global Beta Smart Income ETF 5.7 29 -19 8.5 +2.8
BUL Pacer US Cash Cows Growth ETF 5.7 60 -50 6.0 +0.3
RSP Invesco S&P 500 Equal Weight ETF 5.7 20 -10 6.5 +0.8
IUSS Invesco Strategic US Small Company ETF 5.7 23 -13 5.2 -0.5
MDYG SPDR S&P 400 Mid Cap Growth ETF 5.7 15 -5 4.8 -1.0

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

  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 13.1 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 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.