Vanguard Europe Pacific
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
14.9x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
3.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Vanguard Europe Pacific fund seeks investment results that correspond to the price and yield performance of the MSCI EAFE Index of mostly large cap stocks in developed markets outside the U.S.

FUND BASICS
Category International Equities
Fund Sponsor Vanguard
Website www.vanguard.com
Inception date Jul 26, 2007
Assets (mns) $75,338
Currency USD
Expense ratio 5 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 3956
Wgt avg mkt cap (mns) $54,214
Large cap (>$10bn) 74.1%
Mid cap ($2-10bn) 20.1%
Small cap (<$2bn) 5.7%
Developed mkts 95.3%
Emerging mkts 4.7%

TOP TEN HOLDINGS
NESTLE SA-REG 1.5 %
ROCHE HOLDING AG-GENUSSCHEIN 1.1 %
SAMSUNG ELECTRONICS CO LTD 1.0 %
NOVARTIS AG-REG 1.0 %
TOYOTA MOTOR CORP 0.9 %
HSBC HOLDINGS PLC 0.8 %
TOTAL SA 0.7 %
SAP AG 0.7 %
BP PLC 0.7 %
ROYAL DUTCH SHELL PLC-A SHS 0.7 %
Total 8.9 %

TOP COUNTRY EXPOSURE
JAPAN 21.3 %
BRITAIN 13.2 %
CANADA 8.5 %
FRANCE 7.5 %
SWITZERLAND 7.4 %
GERMANY 6.9 %
AUSTRALIA 5.7 %
SOUTH KOREA 4.0 %
NETHERLANDS 3.3 %
HONG KONG 2.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
16.8% 10.7% 4.4% 5.7% 2.1%

Market Correlations
versus... Beta R-squared
S&P500 0.78 68%
MSCI EAFE 1.01 97%
MSCI Emg. Mkts. 0.71 79%

Technical Indicators
Recent close $42.77
30d moving avg. $42.47
Annualized volatility 11.4%
Short interest (ETF) 0.7%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 8,704
Turnover 0.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $64,689

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard Europe Pacific ETF based on the alternatives' overlap in portfolio holdings with VEA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VEA Expense: 5 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VEA
Ticker Fund
Name
Overlap1
vs VEA
(%)
Expense
ratio
(bp)
Savings
vs VEA
(bp)
ALTAR
Score™
(%)
ALTAR
vs VEA
(%)
SCHF Schwab International Equity 85.9 6 -1 7.5 +0.1
IDEV iShares Core MSCI Int'l Developed Markets 84.1 5 0 7.2 -0.2
SPDW SPDR Portfolio World ex-US 81.0 4 1 7.2 -0.2
IEFA iShares Core MSCI EAFE 79.6 7 -2 7.1 -0.3
PBDM Invesco PureBeta FTSE Developed ex-North America 79.0 7 -2 7.6 +0.2
VEU Vanguard FTSE All-World ex-US 74.6 9 -4 7.6 +0.3
IXUS iShares Core International Stock 73.5 9 -4 7.5 +0.1
ACWX iShares MSCI ACWI ex-US 73.4 31 -26 7.5 +0.1
VXUS Vanguard Total International Stock 72.7 9 -4 7.6 +0.3
DBAW Xtrackers MSCI All World ex-US Hedged 72.6 40 -35 7.3 -0.1
HFXI IQ 50 Percent Hedged FTSE Int'l 71.5 20 -15 7.3 -0.1
EFA iShares MSCI EAFE 70.8 31 -26 7.0 -0.4
DBEF Xtrackers MSCI EAFE Hedged 70.5 35 -30 6.9 -0.5
PXF Invesco FTSE-RAFI Developed ex-US 66.3 45 -40 8.2 +0.8
EFAX SPDR MSCI EAFE Fossil Fuel Free 65.5 20 -15 7.2 -0.2
VSGX Vanguard ESG International Stock 64.4 15 -10 7.4 -0.0
FNDF Schwab Fundamental Intl Large Cap 64.1 25 -20 7.6 +0.2
TLTD FlexShares Mngstr Developed Mkts ex-US Factor Tilt 63.9 39 -34 8.4 +1.1
CWI SPDR MSCI ACWI ex-US 62.4 30 -25 7.5 +0.1
JHMD John Hancock Multifactor Developed International 59.7 45 -40 7.3 -0.1

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 Europe Pacific
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 10.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 5 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.63
 
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.