Vanguard FTSE Developed Markets ETF
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.3x P/Sales
ratio
1.2x
P/BV
ratio
1.3x Div.
yield
2.8%


  • 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 20, 2007
Assets (mns) $74,079
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 3925
Wgt avg mkt cap (mns) $55,223
Large cap (>$10bn) 74.6%
Mid cap ($2-10bn) 19.3%
Small cap (<$2bn) 5.3%
Developed mkts 94.6%
Emerging mkts 5.3%

TOP TEN HOLDINGS
NESTLE SA-REG 1.8 %
ROCHE HOLDING AG-GENUSSCHEIN 1.3 %
SAMSUNG ELECTRONICS CO LTD 1.2 %
SAP AG 1.0 %
NOVARTIS AG-REG 0.9 %
TOYOTA MOTOR CORP 0.8 %
ASML HOLDING NV 0.8 %
ASTRAZENECA PLC 0.8 %
SANOFI-AVENTIS 0.6 %
AIA GROUP LTD 0.6 %
Total 9.7 %

TOP COUNTRY EXPOSURE
JAPAN 20.6 %
BRITAIN 11.1 %
CANADA 8.4 %
SWITZERLAND 8.1 %
GERMANY 7.4 %
FRANCE 6.9 %
AUSTRALIA 5.8 %
SOUTH KOREA 4.5 %
NETHERLANDS 3.7 %
SWEDEN 2.8 %

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.
-8.8% -0.1% 2.6% 5.2% 1.6%

Market Correlations
versus... Beta R-squared
S&P500 0.86 84%
MSCI EAFE 1.01 98%
MSCI Emg. Mkts. 0.72 82%

Technical Indicators
Recent close $41.12
30d moving avg. $40.21
Annualized volatility 16.1%
Short interest (ETF) 0.2%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 8,081
Turnover 0.5%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $85,687

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Vanguard FTSE Developed Markets ETF 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 ETF 85.2 6 -1 7.4 -0.1
IDEV iShares Core MSCI International Developed Markets ETF 82.4 5 0 7.3 -0.2
SPDW SPDR Portfolio Developed World ex-US ETF 80.5 4 1 7.2 -0.3
IEFA iShares Core MSCI EAFE ETF 78.5 7 -2 7.3 -0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 78.4 7 -2 7.6 +0.2
ACWX iShares MSCI ACWI ex U.S. ETF 72.1 32 -27 7.3 -0.2
VEU Vanguard FTSE All-World ex-US Index Fund 71.2 8 -3 7.5 +0.1
IXUS ishares Core MSCI Total International Stock ETF 70.9 9 -4 7.4 -0.0
HFXI IQ 50 Percent Hedged FTSE International ETF 70.6 20 -15 7.4 +0.0
VXUS Vanguard Total International Stock Index Fund 70.1 8 -3 7.5 +0.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 69.8 40 -35 7.0 -0.4
EFA iShares MSCI EAFE ETF 69.8 32 -27 7.1 -0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 69.6 35 -30 6.9 -0.6
GSID Goldman Sachs MarketBeta International Equity ETF 68.0 20 -15 7.4 -0.1
BKIE BNY Mellon International Equity ETF 67.1 4 1 7.4 -0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 64.6 20 -15 7.1 -0.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 63.6 45 -40 8.8 +1.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 63.5 39 -34 8.4 +1.0
VSGX Vanguard ESG International Stock ETF 62.7 17 -12 7.1 -0.3
CWI SPDR MSCI ACWI ex-US ETF 62.1 30 -25 7.2 -0.3
FNDF Schwab Fundamental International Large Co. Index ETF 60.5 25 -20 8.8 +1.4
JHMD John Hancock Multifactor Developed International ETF 59.4 39 -34 7.5 +0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 59.2 25 -20 6.6 -0.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 54.0 39 -34 6.5 -0.9
PDEV Principal International Multi-Factor Core Index ETF 53.5 25 -20 7.9 +0.5
ESGD iShares MSCI EAFE ESG Optimized ETF 53.2 20 -15 7.0 -0.5
QEFA SPDR MSCI EAFE Quality Mix ETF 53.1 30 -25 6.9 -0.5
VGK Vanguard FTSE Europe ETF 49.7 8 -3 7.4 +0.0
DWM WisdomTree International Equity Fund 49.6 48 -43 8.4 +1.0
IQSI IQ Candriam ESG International Equity ETF 49.4 15 -10 7.3 -0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 48.9 35 -30 8.6 +1.1
AVDE Avantis International Equity ETF 48.8 23 -18 7.8 +0.4
FEU SPDR Portfolio Europe ETF 48.8 9 -4 7.3 -0.1
IEUR iShares Core MSCI Europe ETF 48.4 9 -4 7.3 -0.2
ISDX Invesco Strategic Developed ex-US ETF 47.6 23 -18 7.4 -0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 46.7 30 -25 7.4 -0.0
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 46.0 35 -30 7.0 -0.5
FLEE Franklin FTSE Europe ETF 45.9 9 -4 7.0 -0.4
FLEH Franklin FTSE Europe Hedged ETF 45.9 9 -4 7.1 -0.4
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 45.7 30 -25 6.9 -0.6
CIL VictoryShares International Volatility Weighted Index ETF 45.2 45 -40 6.7 -0.7
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 45.2 45 -40 6.7 -0.8
DBEU Xtrackers MSCI Europe Hedged Equity ETF 43.6 45 -40 6.6 -0.8
BBEU JPMorgan BetaBuilders Europe ETF 43.3 9 -4 7.4 -0.1
IEV iShares Europe ETF 41.9 59 -54 6.8 -0.6
DOL WisdomTree International LargeCap Dividend Fund 41.8 48 -43 8.7 +1.3
IQIN IQ 500 International ETF 41.6 25 -20 8.8 +1.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 41.0 25 -20 6.5 -0.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 40.3 16 -11 6.9 -0.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 37.9 24 -19 7.2 -0.3
EFG iShares MSCI EAFE Growth ETF 37.8 40 -35 4.6 -2.9
EFV iShares MSCI EAFE Value ETF 37.8 39 -34 9.7 +2.2
VPL Vanguard FTSE Pacific ETF 35.0 8 -3 7.6 +0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 35.0 14 -9 7.0 -0.4
RNDM Developed International Equity Select ETF 34.1 65 -60 6.3 -1.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 33.9 42 -37 5.3 -2.1
VYMI Vanguard International High Dividend Yield ETF 33.4 32 -27 10.1 +2.6
URTH iShares MSCI World ETF 33.0 24 -19 5.5 -1.9
QWLD SPDR MSCI World StrategicFactors ETF 32.6 30 -25 6.0 -1.4
IDY Pacific Global International Equity Income ETF 32.5 39 -34 8.1 +0.7
PQIN PGIM QMA Strategic Alpha International Equity ETF 31.3 29 -24 7.7 +0.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 31.0 45 -40 7.1 -0.3
ACWI iShares MSCI ACWI ETF 30.6 32 -27 5.7 -1.7
TPIF Timothy Plan International ETF 30.5 62 -57 6.3 -1.2
VT Vanguard Total World Stock Index Fund 30.1 8 -3 6.0 -1.4
LOWC SPDR MSCI ACWI Low Carbon Target ETF 29.6 20 -15 5.9 -1.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 29.4 30 -25 4.4 -3.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 29.3 20 -15 6.0 -1.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 28.7 30 -25 6.1 -1.3
SCID Global X Scientific Beta Europe ETF 28.6 39 -34 6.5 -0.9
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 28.4 30 -25 0.0 -7.4
TOK iShares MSCI Kokusai ETF 27.7 25 -20 5.4 -2.0
QINT American Century Quality Diversified International ETF 27.6 39 -34 5.7 -1.7
IPAC iShares Core MSCI Pacific ETF 27.4 9 -4 7.4 -0.1
KOKU Xtrackers MSCI Kokusai Equity ETF 27.0 9 -4 5.5 -1.9
IGRO iShares International Dividend Growth ETF 27.0 22 -17 8.0 +0.6
RFDI First Trust Riverfront Dynamic Developed International ETF 26.1 83 -78 5.7 -1.8
VGFO Virtus WMC Global Factor Opportunities ETF 26.1 49 -44 7.9 +0.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.0 29 -24 8.6 +1.2
RBIN Nationwide Risk-Based International Equity ETF 25.8 42 -37 6.2 -1.2
EFAV iShares Edge MSCI Min Vol EAFE ETF 25.6 20 -15 5.5 -1.9
JPIN JPMorgan Diversified Return International Equity ETF 25.5 37 -32 7.9 +0.5
FDEV Fidelity Targeted International Factor ETF 24.4 39 -34 6.6 -0.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 24.4 9 -4 5.8 -1.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 24.3 45 -40 6.7 -0.7
IVLU iShares Edge MSCI Intl Value Factor ETF 22.4 30 -25 11.6 +4.2
EURZ Xtrackers Eurozone Equity ETF 22.2 9 -4 7.1 -0.3
EZU iShares MSCI Eurozone ETF 22.2 49 -44 6.6 -0.8
NUDM Nuveen ESG International Developed Markets Equity ETF 21.7 40 -35 6.9 -0.6
DTH WisdomTree DEFA Equity Income Fund 21.7 58 -53 9.8 +2.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 21.5 35 -30 8.7 +1.3
IDHQ Invesco S&P International Developed Quality ETF 21.4 29 -24 5.1 -2.3
DEW WisdomTree Global High Dividend Fund 21.3 58 -53 9.1 +1.7
EUMV iShares Edge MSCI Min Vol Europe ETF 21.1 25 -20 5.0 -2.4
IDMO Invesco S&P International Developed Momentum ETF 20.8 26 -21 4.5 -2.9
FIVA Fidelity International Value Factor ETF 20.6 39 -34 10.0 +2.6
OEUR O'shares FTSE Europe Quality Dividend ETF 19.9 48 -43 6.7 -0.7
IDLV Invesco S&P International Developed Low Volatility ETF 19.3 25 -20 6.8 -0.6
FLJH Franklin FTSE Japan Hedged ETF 19.2 9 -4 7.7 +0.3

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 FTSE Developed Markets ETF
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 9.7 %
Divided by: Fwd. P/BV 1.3 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
1.56 CATEGORY
AVERAGE
1.59
 
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.