Vanguard FTSE Developed Markets ETF
ALTAR
Score™
6.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
24.3x P/Sales
ratio
1.4x
P/BV
ratio
1.6x Div.
yield
2.4%


  • 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) $91,201
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 3952
Wgt avg mkt cap (mns) $64,813
Large cap (>$10bn) 76.5%
Mid cap ($2-10bn) 17.6%
Small cap (<$2bn) 4.6%
Developed mkts 93.7%
Emerging mkts 6.3%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 1.6 %
NESTLE SA-REG 1.4 %
ROCHE HOLDING AG-GENUSSCHEIN 1.1 %
ASML HOLDING NV 1.0 %
NOVARTIS AG-REG 0.9 %
TOYOTA MOTOR CORP 0.8 %
AIA GROUP LTD 0.7 %
LVMH MOET HENNESSY LOUIS VUI 0.7 %
SAP AG 0.6 %
ASTRAZENECA PLC 0.6 %
Total 9.6 %

TOP COUNTRY EXPOSURE
JAPAN 21.3 %
BRITAIN 11.0 %
CANADA 8.3 %
SWITZERLAND 7.6 %
GERMANY 7.2 %
FRANCE 6.8 %
AUSTRALIA 6.1 %
SOUTH KOREA 5.7 %
NETHERLANDS 3.6 %
SWEDEN 2.9 %

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.
9.7% 9.7% 8.2% 5.8% 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.91 84%
MSCI EAFE 0.99 98%
MSCI Emg. Mkts. 0.78 78%

Technical Indicators
Recent close $49.04
30d moving avg. $47.61
Annualized volatility 18.6%
Short interest (ETF) 0.8%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 8,613
Turnover 0.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $105,782

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 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™: 6.5%


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 86.3 6 -1 6.5 -0.0
IDEV iShares Core MSCI International Developed Markets ETF 82.7 5 0 6.4 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 80.3 4 1 6.2 -0.3
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 79.6 7 -2 6.5 0.0
IEFA iShares Core MSCI EAFE ETF 78.9 7 -2 6.4 -0.1
DFAI Dimensional International Core Equity Market ETF 76.9 18 -13 6.3 -0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 72.7 20 -15 6.4 -0.1
ACWX iShares MSCI ACWI ex U.S. ETF 70.0 32 -27 6.3 -0.2
EFA iShares MSCI EAFE ETF 69.8 32 -27 6.2 -0.3
VEU Vanguard FTSE All-World ex-US Index Fund 69.8 8 -3 6.6 +0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 69.6 35 -30 6.1 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 69.0 20 -15 6.3 -0.2
IXUS ishares Core MSCI Total International Stock ETF 68.8 9 -4 6.4 -0.1
BKIE BNY Mellon International Equity ETF 68.4 4 1 6.5 +0.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 68.2 40 -35 6.0 -0.5
VSGX Vanguard ESG International Stock ETF 66.8 17 -12 6.3 -0.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 64.6 20 -15 6.3 -0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 63.9 39 -34 7.4 +0.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 63.4 45 -40 7.5 +1.0
CWI SPDR MSCI ACWI ex-US ETF 61.3 30 -25 6.1 -0.4
VXUS Vanguard Total International Stock ETF 59.8 8 -3 6.5 +0.0
JHMD John Hancock Multifactor Developed International ETF 59.8 39 -34 6.5 +0.0
FNDF Schwab Fundamental International Large Co. Index ETF 59.3 25 -20 7.6 +1.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 58.6 25 -20 6.0 -0.6
ESGD iShares MSCI EAFE ESG Optimized ETF 55.8 20 -15 6.1 -0.4
PDEV Principal International Multi-Factor Core Index ETF 54.0 25 -20 7.0 +0.5
AVDE Avantis International Equity ETF 53.7 23 -18 6.9 +0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 53.5 39 -34 5.5 -1.0
QEFA SPDR MSCI EAFE Quality Mix ETF 52.4 30 -25 6.0 -0.5
IQSI IQ Candriam ESG International Equity ETF 52.1 15 -10 6.4 -0.1
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 49.3 35 -30 5.9 -0.6
VGK Vanguard FTSE Europe ETF 49.0 8 -3 6.7 +0.2
SPEU SPDR Portfolio Europe ETF 47.9 9 -4 6.7 +0.2
IEUR iShares Core MSCI Europe ETF 47.7 9 -4 6.5 +0.0
ISZE iShares Edge MSCI Intl Size Factor ETF 47.0 30 -25 6.3 -0.3
ISDX Invesco RAFI Strategic Developed ex-US ETF 46.9 23 -18 6.2 -0.3
CIL VictoryShares International Volatility Weighted Index ETF 46.3 45 -40 6.3 -0.2
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 46.2 45 -40 6.3 -0.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 46.0 40 -35 7.2 +0.7
DWM WisdomTree International Equity Fund 45.2 48 -43 7.1 +0.6
FLEE Franklin FTSE Europe ETF 44.9 9 -4 6.4 -0.1
FLEH Franklin FTSE Europe Hedged ETF 44.8 9 -4 6.4 -0.1
BBEU JPMorgan BetaBuilders Europe ETF 43.1 9 -4 6.6 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 42.6 45 -40 5.9 -0.6
IQIN IQ 500 International ETF 41.5 25 -20 7.5 +1.0
IEV iShares Europe ETF 41.1 59 -54 6.2 -0.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 39.7 16 -11 5.9 -0.6
DOL WisdomTree International LargeCap Dividend Fund 39.2 48 -43 7.1 +0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 39.0 25 -20 5.8 -0.7
EFV iShares MSCI EAFE Value ETF 38.2 39 -34 8.3 +1.8
DMXF iShares ESG Advanced MSCI EAFE ETF 37.4 12 -7 6.2 -0.3
VPL Vanguard FTSE Pacific ETF 37.3 8 -3 6.4 -0.1
EFG iShares MSCI EAFE Growth ETF 37.3 40 -35 4.1 -2.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 36.7 24 -19 6.5 +0.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 34.3 14 -9 6.1 -0.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 34.1 42 -37 4.6 -1.9
TPIF Timothy Plan International ETF 33.8 62 -57 6.0 -0.5
URTH iShares MSCI World ETF 32.9 24 -19 4.9 -1.6
VYMI Vanguard International High Dividend Yield ETF 32.7 27 -22 8.9 +2.4
RNDM First Trust Developed International Equity Select ETF 32.1 65 -60 5.6 -0.9
QWLD SPDR MSCI World StrategicFactors ETF 31.9 30 -25 5.3 -1.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 31.9 29 -24 7.0 +0.5
VT Vanguard Total World Stock ETF 30.6 8 -3 5.3 -1.2
ACWI iShares MSCI ACWI ETF 30.5 32 -27 5.0 -1.5
RESD WisdomTree International ESG Fund 30.2 30 -25 6.5 -0.0
IDLB Invesco FTSE International Low Beta Equal Weight ETF 29.5 45 -40 6.1 -0.4
LOWC SPDR MSCI ACWI Low Carbon Target ETF 29.4 20 -15 5.3 -1.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 29.3 20 -15 5.3 -1.2
IPAC iShares Core MSCI Pacific ETF 29.0 9 -4 6.3 -0.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 28.2 30 -25 5.2 -1.3
TOK iShares MSCI Kokusai ETF 27.4 25 -20 4.9 -1.6
IMTM iShares Edge MSCI Intl Momentum Factor ETF 27.2 30 -25 4.1 -2.4
KOKU Xtrackers MSCI Kokusai Equity ETF 27.0 9 -4 5.0 -1.5
RBIN Nationwide Risk-Based International Equity ETF 26.6 42 -37 6.0 -0.5
IVLU iShares Edge MSCI Intl Value Factor ETF 26.5 30 -25 9.9 +3.4
JPIN JPMorgan Diversified Return International Equity ETF 25.9 37 -32 7.0 +0.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 25.6 29 -24 7.2 +0.7
QINT American Century Quality Diversified International ETF 25.0 39 -34 5.6 -0.9
SPGM SPDR Portfolio MSCI Global Stock Market ETF 24.4 9 -4 5.1 -1.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 23.9 45 -40 6.0 -0.5
EFAV iShares Edge MSCI Min Vol EAFE ETF 22.8 20 -15 5.0 -1.5
VWID Virtus WMC International Dividend ETF 22.8 49 -44 7.3 +0.8
NUDM Nuveen ESG International Developed Markets Equity ETF 22.3 40 -35 5.9 -0.6
EZU iShares MSCI Eurozone ETF 21.8 51 -46 5.9 -0.6
EURZ Xtrackers Eurozone Equity ETF 21.8 9 -4 6.4 -0.1
FDEV Fidelity Targeted International Factor ETF 21.7 39 -34 6.1 -0.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 21.3 35 -30 7.6 +1.1
DEW WisdomTree Global High Dividend Fund 20.2 58 -53 8.7 +2.2
FLJP Franklin FTSE Japan ETF 20.0 9 -4 6.5 +0.0
FLJH Franklin FTSE Japan Hedged ETF 20.0 9 -4 6.5 +0.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 19.9 32 -27 5.7 -0.8
FIVA Fidelity International Value Factor ETF 19.6 39 -34 8.7 +2.2
IGRO iShares International Dividend Growth ETF 19.5 15 -10 7.0 +0.5
BBJP JPMorgan BetaBuilders Japan ETF 18.8 19 -14 6.4 -0.1
RODE Hartford Multifactor Diversified International ETF 18.8 29 -24 10.5 +4.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 18.8 47 -42 8.0 +1.5
IDHQ Invesco S&P International Developed Quality ETF 18.7 29 -24 4.7 -1.8

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 1.5 x
Less: Expense ratio 5 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.54
 
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.