Vanguard Energy
ALTAR
Score™
3.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
22.8x P/Sales
ratio
0.9x
P/BV
ratio
1.3x Div.
yield
3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard Energy ETF seeks to track the performance of the MSCI US Investable Market Energy Index. The Index consists of large, medium-size and small US companies within the energy sector that

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Sep 29, 2004
Assets (mns) $3,136
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 139
Wgt avg mkt cap (mns) $126,220
Large cap (>$10bn) 85.0%
Mid cap ($2-10bn) 9.4%
Small cap (<$2bn) 5.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EXXON MOBIL CORP 22.3 %
CHEVRON CORP 17.4 %
CONOCOPHILLIPS 5.1 %
SCHLUMBERGER LTD 4.2 %
EOG RESOURCES INC 3.9 %
PHILLIPS 66 3.7 %
VALERO ENERGY CORP 3.0 %
KINDER MORGAN INC 3.0 %
MARATHON PETROLEUM 3.0 %
OCCIDENTAL PETROLEUM CORP 2.9 %
Total 68.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.6 %
BRITAIN 0.8 %
SWITZERLAND 0.3 %
NETHERLANDS 0.2 %
BERMUDA 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.3% 9.3% -3.3% 2.1% 5.2%

Market Correlations
versus... Beta R-squared
S&P500 1.30 54%
MSCI EAFE 1.42 54%
MSCI Emg. Mkts. 0.84 32%

Technical Indicators
Recent close $79.92
30d moving avg. $80.30
Annualized volatility 21.4%
Short interest (ETF) 0.3%
Short interest (Underlying) 3.9%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 444
Turnover 1.1%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $9,246

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 18 potential alternatives to the Vanguard Energy ETF based on the alternatives' overlap in portfolio holdings with VDE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VDE Expense: 10 bp ALTAR Score™: 3.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VDE
Ticker Fund
Name
Overlap1
vs VDE
(%)
Expense
ratio
(bp)
Savings
vs VDE
(bp)
ALTAR
Score™
(%)
ALTAR
vs VDE
(%)
FENY Fidelity MSCI Energy 97.8 8 2 3.8 +0.1
IYE iShares DJ US Energy Sector 94.8 42 -32 3.8 +0.0
XLE Energy Select Sector SPDR 89.1 13 -3 4.2 +0.5
JHME John Hancock Multifactor Energy 63.8 40 -30 3.1 -0.7
IGE iShares North American Natural Resources 61.9 46 -36 3.8 +0.0
RYE Invesco S&P Equal Weight Energy ETF 53.4 40 -30 3.2 -0.6
IXC iShares Global Energy 51.2 46 -36 4.9 +1.2
FTXN First Trust Nasdaq Oil & Gas 46.8 60 -50 4.0 +0.3
FXN First Trust Energy Alphadex 45.6 63 -53 3.9 +0.2
FILL iShares MSCI Global Energy Producers 43.6 39 -29 5.5 +1.8
NANR SPDR S&P N. American Nat. Resources 37.5 35 -25 3.8 +0.1
IEO iShares U.S. Oil & Gas Exploration & Production 36.6 42 -32 2.8 -1.0
XOP SPDR S&P Oil & Gas Exploration & Production 35.7 35 -25 2.9 -0.9
PXI Invesco Dynamic Energy Sector 35.0 60 -50 0.4 -3.4
FRAK VanEck Vectors Unconventional Oil & Gas 25.2 54 -44 1.8 -2.0
HDV iShares High Dividend 23.0 8 2 6.9 +3.1
FDL First Trust Morningstar Dividend Leaders 22.1 45 -35 8.3 +4.6
EQRR ProShares Equities for Rising Rates 17.7 35 -25 7.5 +3.7

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:
Vanguard Energy
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 4.9 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 3.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.55
 
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.