Vanguard U.S. Multifactor ETF
ALTAR
Score™
11.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
9.9x P/Sales
ratio
0.7x
P/BV
ratio
1.3x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VFMF is an actively managed fund that invests in US equities exhibiting value, momentum, quality, and low volatility factors. 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) $52
Currency USD
Expense ratio 18 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 523
Wgt avg mkt cap (mns) $51,086,700,000
Large cap (>$10bn) 46.7%
Mid cap ($2-10bn) 27.3%
Small cap (<$2bn) 26.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INTEL CORP 1.2 %
TARGET CORP 1.0 %
BIOGEN IDEC INC 1.0 %
HUMANA INC 1.0 %
JPMORGAN CHASE & CO 0.9 %
LAM RESEARCH CORP 0.8 %
ACTIVISION BLIZZARD INC 0.8 %
MICRON TECHNOLOGY INC 0.8 %
S&P GLOBAL, INC. 0.8 %
APPLIED MATERIALS INC 0.7 %
Total 8.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 82.4 %
IRELAND 2.6 %
BRITAIN 1.0 %
NETHERLANDS 1.0 %
BERMUDA 0.6 %
SWITZERLAND 0.5 %
PUERTO RICO 0.5 %
CAYMAN ISLANDS 0.2 %
SINGAPORE 0.2 %
MONACO 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-30.1% -23.3% -- -- -12.1%

Market Correlations
versus... Beta R-squared
S&P500 1.20 94%
MSCI EAFE 1.19 84%
MSCI Emg. Mkts. 0.92 69%

Technical Indicators
Recent close $53.28
30d moving avg. $63.21
Annualized volatility 21.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 31
Turnover 3.2%
Bid/Ask (% of price) 0.58%
ADV underlying (mns) $144,869

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Vanguard U.S. Multifactor ETF ETF based on the alternatives' overlap in portfolio holdings with VFMF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VFMF Expense: 18 bp ALTAR Score™: 11.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VFMF
Ticker Fund
Name
Overlap1
vs VFMF
(%)
Expense
ratio
(bp)
Savings
vs VFMF
(bp)
ALTAR
Score™
(%)
ALTAR
vs VFMF
(%)
VFQY Vanguard U.S. Quality Factor ETF 45.0 13 5 8.7 -2.4
AVUS Avantis U.S. Equity ETF 30.5 15 3 8.1 -2.9
VFVA Vanguard U.S. Value Factor ETF 29.9 13 5 16.6 +5.6
TUSA First Trust Total US Market AlphaDEX ETF 29.3 70 -52 9.5 -1.6
FAB First Trust Multi Cap Value AlphaDEX Fund 28.7 71 -53 13.4 +2.4
VLU SPDR S&P 1500 Value Tilt ETF 28.4 12 6 9.8 -1.3
FNDB Schwab Fundamental U.S. Broad Market Index ETF 28.1 25 -7 8.6 -2.5
VFMO Vanguard U.S. Momentum Factor ETF 27.4 13 5 4.8 -6.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 27.4 25 -7 8.5 -2.6
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 27.0 25 -7 8.8 -2.3
PRF Invesco FTSE RAFI US 1000 ETF 27.0 39 -21 9.4 -1.7
ONEO SPDR Russell 1000 Momentum Focus ETF 26.9 20 -2 9.5 -1.5
ROUS Hartford Multifactor US Equity ETF 26.9 19 -1 9.4 -1.7
JHML John Hancock Multifactor Large Cap ETF 26.8 34 -16 7.6 -3.4
BFOR Barron's 400 ETF 26.7 66 -48 9.3 -1.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 26.2 29 -11 9.3 -1.7
AFLG First Trust Active Factor Large Cap ETF 25.9 55 -37 7.8 -3.2
EPS WisdomTree U.S. Earnings 500 Fund 25.5 8 10 8.6 -2.4
JVAL JPMorgan U.S. Value Factor ETF 25.5 12 6 12.1 +1.1
VUSE Vident Core US Equity Fund 25.4 48 -30 11.0 -0.1
DIVB iShares U.S. Dividend & Buyback ETF 25.3 25 -7 8.9 -2.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 24.6 17 1 9.0 -2.0
RWL Invesco S&P 500 Revenue ETF 24.6 39 -21 9.3 -1.7
IUS Invesco Strategic US ETF 24.5 19 -1 8.1 -2.9
MMTM SPDR S&P 1500 Momentum Tilt ETF 24.2 12 6 6.9 -4.2
FEX First Trust Large Cap Core AlphaDEX Fund 24.1 60 -42 8.2 -2.9
CFA Victory CEMP US 500 Volatility Weighted Index ETF 24.0 35 -17 8.2 -2.8
PBP Invesco S&P 500 BuyWrite ETF 23.6 49 -31 6.7 -4.4
SPTM SPDR Portfolio Total Stock Market ETF 23.6 3 15 7.4 -3.6
HSPX Global X S&P 500 Covered Call ETF 23.6 65 -47 6.4 -4.7
RSP Invesco S&P 500 Equal Weight ETF 23.5 20 -2 8.9 -2.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 23.4 9 9 7.4 -3.6
VTHR Vanguard Russell 3000 Index Fund 23.3 10 8 7.1 -4.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.3 3 15 7.1 -3.9
SCHB Schwab U.S. Broad Market ETF 23.3 3 15 7.2 -3.9
VTI Vanguard Total Stock Market Index Fund 23.2 3 15 7.1 -3.9
EXT WisdomTree U.S. Total Earnings Fund 23.2 28 -10 7.8 -3.3
IYY iShares Dow Jones U.S. ETF 23.1 20 -2 7.1 -4.0
IWV iShares Russell 3000 ETF 23.1 20 -2 7.0 -4.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 23.1 30 -12 8.2 -2.9
SCHK Schwab 1000 Index ETF 23.1 5 13 7.2 -3.9
VTV Vanguard Value Index Fund 23.0 4 14 9.4 -1.7
RNLC Large Cap US Equity Select ETF 23.0 60 -42 8.2 -2.8
VONE Vanguard Russell 1000 ETF 22.9 8 10 7.2 -3.9
SPXE ProShares S&P 500 Ex-Energy ETF 22.8 27 -9 7.1 -3.9
IWB iShares Russell 1000 ETF 22.7 15 3 7.1 -4.0
SPY SPDR S&P 500 ETF Trust 22.7 9 9 7.2 -3.8
SCHX Schwab U.S. Large-Cap ETF 22.7 3 15 7.2 -3.9
IVV iShares Core S&P 500 ETF 22.7 4 14 7.3 -3.8
VV Vanguard Large-Cap Index Fund 22.6 4 14 7.1 -3.9
SPLG SPDR Portfolio Large Cap ETF 22.6 3 15 7.3 -3.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 22.6 2 16 7.2 -3.8
VOO VANGUARD S&P 500 ETF 22.6 3 15 7.3 -3.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 22.6 20 -2 6.8 -4.3
EUSA iShares MSCI USA Equal Weighted ETF 22.5 15 3 8.6 -2.5
PBUS Invesco PureBeta MSCI USA ETF 22.5 4 14 7.4 -3.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 22.5 20 -2 7.2 -3.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 22.4 9 9 8.2 -2.8
ESGV Vanguard ESG U.S. Stock ETF 22.2 12 6 7.1 -3.9
SIZE iShares Edge MSCI USA Size Factor ETF 22.2 15 3 8.4 -2.7
CATH Global X S&P 500 Catholic Values Custom ETF 22.2 29 -11 7.1 -3.9
RAFE PIMCO RAFI ESG U.S. ETF 22.1 29 -11 10.6 -0.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 22.1 19 -1 7.7 -3.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 21.9 17 1 9.1 -2.0
QLC FlexShares US Quality Large Cap Index Fund 21.9 32 -14 7.6 -3.5
FSMD Fidelity Small-Mid Factor ETF 21.8 29 -11 9.9 -1.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 21.7 29 -11 8.4 -2.7
IUSV iShares Core S&P U.S. Value ETF 21.6 4 14 9.6 -1.4
VONV Vanguard Russell 1000 Value Index Fund 21.5 8 10 9.5 -1.6
ESGU iShares MSCI USA ESG Optimized ETF 21.4 15 3 6.8 -4.2
RECS Columbia Research Enhanced Core ETF 21.4 15 3 7.6 -3.4
DGRO iShares Core Dividend Growth ETF 21.3 8 10 8.6 -2.5
IWD iShares Russell 1000 Value ETF 21.1 19 -1 9.4 -1.7
JPUS JPMorgan Diversified Return U.S. Equity ETF 21.1 19 -1 8.5 -2.6
SFY SoFi Select 500 ETF 21.0 0 18 6.8 -4.3
QUS SPDR MSCI USA StrategicFactors ETF 21.0 15 3 7.4 -3.6
VOOV Vanguard S&P 500 Value ETF 21.0 15 3 9.4 -1.7
IVE iShares S&P 500 Value ETF 21.0 18 0 9.3 -1.7
SPYV SPDR Portfolio S&P 500 Value ETF 21.0 4 14 9.4 -1.6
MGC Vanguard Mega Cap Index Fund 20.8 7 11 7.0 -4.1
DTD WisdomTree U.S.Total Dividend Fund 20.6 28 -10 8.7 -2.4
FTA First Trust Large Cap Value AlphaDEX Fund 20.6 60 -42 12.3 +1.2
VALQ American Century STOXX U.S. Quality Value ETF 20.5 29 -11 11.6 +0.6
SPXT ProShares S&P 500 Ex-Technology ETF 20.5 27 -9 7.5 -3.6
SCHV Schwab U.S. Large-Cap Value ETF 20.5 4 14 9.2 -1.9
USDY Pacific Global US Equity Income ETF 20.2 29 -11 10.8 -0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 20.2 27 -9 6.9 -4.1
QSY WisdomTree U.S. LargeCap Value Fund 20.1 38 -20 9.7 -1.3
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 20.0 20 -2 10.6 -0.5
SNPE Xtrackers S&P 500 ESG ETF 19.9 11 7 7.0 -4.1
IWL iShares Russell Top 200 ETF 19.9 15 3 6.8 -4.3
FCPI Fidelity Stocks for Inflation ETF 19.9 29 -11 9.4 -1.6
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 19.7 39 -21 8.8 -2.3
KRMA Global X Conscious Companies ETF 19.7 43 -25 7.5 -3.5
ESG FlexShares STOXX US ESG Impact Index Fund 19.5 32 -14 6.9 -4.1
SCIU Global X Scientific Beta US ETF 19.4 19 -1 7.7 -3.3
MGV Vanguard Mega Cap Value ETF 19.3 7 11 9.1 -2.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 19.3 20 -2 9.8 -1.3
DLN WisdomTree U.S. LargeCap Dividend Fund 19.2 28 -10 8.3 -2.8
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 19.2 24 -6 11.1 +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%.

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

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.5 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 11.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.51
 
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.