Vanguard U.S. Liquidity Factor ETF
ALTAR
Score™
3.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
39.9x P/Sales
ratio
1.7x
P/BV
ratio
2.2x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VFLQ is an actively managed fund that invests in US equities with low trading liquidity. The fund seeks long-term capital appreciation.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard
Website www.vangaurd.com
Inception date Feb 13, 2018
Assets (mns) $44
Currency USD
Expense ratio 14 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 789
Wgt avg mkt cap (mns) $18,256
Large cap (>$10bn) 39.1%
Mid cap ($2-10bn) 27.3%
Small cap (<$2bn) 32.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
WEC ENERGY GROUP INC 1.1 %
EVERSOURCE ENERGY 1.1 %
ILLINOIS TOOL WORKS 0.8 %
AMPHENOL CORP-CL A 0.7 %
EATON CORP PLC 0.7 %
ROPER INDUSTRIES INC 0.7 %
MOODY'S CORP 0.7 %
STRYKER CORP 0.7 %
MARSH & MCLENNAN COS 0.7 %
PUBLIC STORAGE 0.7 %
Total 7.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.6 %
BRITAIN 1.5 %
IRELAND 1.4 %
BERMUDA 0.8 %
SWITZERLAND 0.7 %
PUERTO RICO 0.3 %
CANADA 0.2 %
NETHERLANDS 0.1 %
GERMANY 0.1 %
LUXEMBOURG 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.
7.6% 7.6% -- -- 9.2%

Market Correlations
versus... Beta R-squared
S&P500 1.15 90%
MSCI EAFE 1.12 84%
MSCI Emg. Mkts. 0.92 71%

Technical Indicators
Recent close $98.83
30d moving avg. $95.62
Annualized volatility 23.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $37,679

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Vanguard U.S. Liquidity Factor ETF ETF based on the alternatives' overlap in portfolio holdings with VFLQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VFLQ Expense: 14 bp ALTAR Score™: 3.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VFLQ
Ticker Fund
Name
Overlap1
vs VFLQ
(%)
Expense
ratio
(bp)
Savings
vs VFLQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs VFLQ
(%)
VFVA Vanguard U.S. Value Factor ETF 27.8 14 0 8.5 +5.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 24.8 39 -25 3.4 -0.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 24.5 6 8 4.0 +0.6
VFQY Vanguard U.S. Quality Factor ETF 24.4 13 1 5.3 +1.8
SCHA Schwab U.S. Small-Cap ETF 24.0 4 10 3.6 +0.1
VTWO Vanguard Russell 2000 Index Fund 24.0 10 4 2.6 -0.8
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 23.5 29 -15 6.0 +2.6
FNDA Schwab Fundamental U.S. Small Co. Index ETF 22.9 25 -11 4.8 +1.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 22.8 20 -6 3.8 +0.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 22.5 17 -3 4.0 +0.6
FSMD Fidelity Small-Mid Factor ETF 21.8 29 -15 5.2 +1.8
VB Vanguard Small-Cap ETF 21.7 5 9 4.4 +1.0
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 21.4 17 -3 5.6 +2.2
IWM iShares Russell 2000 ETF 21.1 19 -5 2.5 -1.0
IUSS Invesco Strategic US Small Company ETF 21.0 23 -9 3.6 +0.2
TUSA First Trust Total US Market AlphaDEX ETF 21.0 70 -56 4.8 +1.3
FAB First Trust Multi Cap Value AlphaDEX Fund 20.8 71 -57 7.5 +4.1
VXF Vanguard Extended Market Index Fund 20.8 6 8 2.5 -1.0
VFMF Vanguard U.S. Multifactor ETF 20.2 19 -5 6.1 +2.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 19.9 35 -21 5.1 +1.6
EQAL Invesco Russell 1000 Equal Weight ETF 19.8 20 -6 5.0 +1.6
ONEO SPDR Russell 1000 Momentum Focus ETF 19.7 20 -6 5.6 +2.1
BKSE BNY Mellon US Small Cap Core Equity ETF 19.3 4 10 4.7 +1.2
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 19.3 7 7 3.9 +0.4
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 19.2 39 -25 3.9 +0.4
VBR Vanguard Small Cap Value Index Fund 18.8 7 7 6.4 +3.0
SFYX Sofi Next 500 ETF 18.7 0 14 4.8 +1.4
IWN iShares Russell 2000 Value ETF 18.6 24 -10 5.0 +1.6
ESGV Vanguard ESG U.S. Stock ETF 18.5 12 2 4.5 +1.0
EWMC Invesco S&P MidCap 400 Equal Weight ETF 18.4 40 -26 5.6 +2.2
VONV Vanguard Russell 1000 Value Index Fund 18.2 8 6 6.2 +2.7
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 18.2 29 -15 7.3 +3.8
VTWV Vanguard Russell 2000 Value Index Fund 18.0 15 -1 5.1 +1.7
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 17.9 35 -21 5.1 +1.6
MDY SPDR S&P Midcap 400 ETF Trust 17.9 23 -9 5.1 +1.7
SPMD SPDR Portfolio Mid Cap ETF 17.9 5 9 5.3 +1.8
IJH iShares Core S&P Mid-Cap ETF 17.9 5 9 5.3 +1.8
RNMC Mid Cap US Equity Select ETF 17.9 60 -46 6.1 +2.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 17.8 35 -21 5.0 +1.6
IVOO Vanguard S&P Mid-Cap 400 ETF 17.8 10 4 5.3 +1.8
FNX First Trust Mid Cap Core AlphaDEX Fund 17.6 61 -47 5.1 +1.6
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 17.5 29 -15 4.9 +1.5
IWD iShares Russell 1000 Value ETF 17.5 19 -5 6.0 +2.6
IWC iShares Micro-Cap ETF 17.4 60 -46 -3.2 -6.6
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 17.2 25 -11 4.9 +1.4
SCHM Schwab U.S. Mid-Cap ETF 17.2 4 10 5.0 +1.6
XJH iShares ESG Screened S&P Mid-Cap ETF 17.2 12 2 5.4 +1.9
AVUS Avantis U.S. Equity ETF 17.2 15 -1 4.8 +1.4
ONEV SPDR Russell 1000 Low Volatility Focus ETF 16.9 20 -6 6.2 +2.7
IYF iShares U.S. Financials ETF 16.9 42 -28 6.0 +2.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 16.8 9 5 5.0 +1.5
EZM WisdomTree U.S. MidCap Earnings Fund 16.8 38 -24 7.6 +4.1
JHSC John Hancock Multifactor Small Cap ETF 16.7 42 -28 4.5 +1.1
VFMO Vanguard U.S. Momentum Factor ETF 16.5 13 1 1.4 -2.1
EUSA iShares MSCI USA Equal Weighted ETF 16.4 15 -1 5.1 +1.7
IUSV iShares Core S&P U.S. Value ETF 16.3 4 10 6.4 +3.0
SIZE iShares MSCI USA Size Factor ETF 16.2 15 -1 5.1 +1.7
VOOV Vanguard S&P 500 Value ETF 16.1 10 4 6.6 +3.1
BFOR Barron's 400 ETF 16.1 65 -51 5.6 +2.1
DON WisdomTree U.S. MidCap Dividend Fund 16.0 38 -24 6.7 +3.2
SCHV Schwab U.S. Large-Cap Value ETF 16.0 4 10 6.1 +2.6
FVD First Trust Value Line Dividend Index Fund 16.0 70 -56 5.8 +2.3
SMDY Syntax Stratified MidCap ETF 15.9 30 -16 5.1 +1.7
EES WisdomTree SmallCap Earnings Fund 15.8 38 -24 7.5 +4.1
JHML John Hancock Multifactor Large Cap ETF 15.8 29 -15 4.8 +1.4
FNCL Fidelity MSCI Financials Index ETF 15.7 8 6 7.3 +3.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 15.7 29 -15 4.2 +0.8
TPLC Timothy Plan US Large Cap Core ETF 15.7 52 -38 4.4 +1.0
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 15.6 40 -26 5.1 +1.6
FVL First Trust Value Line 100 ETF 15.5 70 -56 6.0 +2.5
VFH Vanguard Financials Index Fund 15.5 10 4 7.3 +3.8
RSP Invesco S&P 500 Equal Weight ETF 15.4 20 -6 5.6 +2.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 15.4 18 -4 5.6 +2.2
JHMM John Hancock Multifactor Mid Cap ETF 15.2 42 -28 4.7 +1.2
IEFN iShares Evolved U.S. Financials ETF 15.2 18 -4 7.7 +4.2
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 15.1 29 -15 -0.3 -3.7
VTHR Vanguard Russell 3000 Index Fund 15.1 10 4 4.4 +0.9
DFAU Dimensional US Core Equity Market ETF 15.0 12 2 4.7 +1.2
IWR iShares Russell Midcap ETF 15.0 19 -5 4.7 +1.2
STSB iShares Factors US Small Blend Style ETF 14.8 35 -21 2.9 -0.6
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 14.8 35 -21 6.0 +2.5
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 14.8 35 -21 6.0 +2.5
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 14.7 17 -3 6.1 +2.6
SCHB Schwab U.S. Broad Market ETF 14.6 3 11 4.4 +1.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 14.6 3 11 4.4 +0.9
DTD WisdomTree U.S.Total Dividend Fund 14.6 28 -14 6.2 +2.8
IWV iShares Russell 3000 ETF 14.6 20 -6 4.3 +0.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 14.5 25 -11 5.7 +2.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 14.5 66 -52 1.8 -1.7
IWX iShares Russell Top 200 Value ETF 14.4 20 -6 6.1 +2.6
TPSC Timothy Plan US Small Cap Core ETF 14.3 52 -38 5.7 +2.2
IVE iShares S&P 500 Value ETF 14.3 18 -4 6.3 +2.8
SPYV SPDR Portfolio S&P 500 Value ETF 14.3 4 10 6.4 +3.0
NUSC Nuveen ESG Small-Cap ETF 14.3 40 -26 3.9 +0.5
VTI Vanguard Total Stock Market Index Fund 14.2 3 11 4.4 +1.0
RNLC Large Cap US Equity Select ETF 14.2 60 -46 5.2 +1.8
SCHK Schwab 1000 Index ETF 14.2 5 9 4.6 +1.1
SPTM SPDR Portfolio Total Stock Market ETF 14.1 3 11 4.8 +1.3

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 U.S. Liquidity Factor ETF
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 7.4 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 14 bp
Equals: ALTAR Score 3.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.49
 
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.