Vanguard U.S. Multifactor ETF
ALTAR
Score™
7.4% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
14.0x P/Sales
ratio
1.1x
P/BV
ratio
2.1x Div.
yield
1.8%


  • 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) $101
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 603
Wgt avg mkt cap (mns) $56,652
Large cap (>$10bn) 48.5%
Mid cap ($2-10bn) 32.4%
Small cap (<$2bn) 19.2%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
TARGET CORP 1.3 %
INTEL CORP 1.0 %
SANTANDER CONSUMER USA HOLDI 0.9 %
JPMORGAN CHASE & CO 0.9 %
CITIGROUP INC 0.8 %
NXP SEMICONDUCTORS NV 0.8 %
PROCTER & GAMBLE CO/THE 0.8 %
BANK OF AMERICA CORP 0.7 %
LAM RESEARCH CORP 0.7 %
MERCK & CO. INC. 0.7 %
Total 8.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.3 %
IRELAND 2.5 %
NETHERLANDS 1.0 %
BRITAIN 1.0 %
BERMUDA 0.6 %
SWITZERLAND 0.6 %
PUERTO RICO 0.5 %
MONACO 0.2 %
ISRAEL 0.2 %
CAYMAN ISLANDS 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.6% 8.5% -- -- 2.8%

Market Correlations
versus... Beta R-squared
S&P500 1.09 91%
MSCI EAFE 1.10 69%
MSCI Emg. Mkts. 0.76 53%

Technical Indicators
Recent close $81.14
30d moving avg. $81.00
Annualized volatility 16.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.8%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $70,939

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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™: 7.4%


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 43.6 13 5 3.4 -4.1
AVUS Avantis U.S. Equity 34.9 15 3 5.9 -1.5
VFVA Vanguard U.S. Value Factor 33.3 13 5 8.9 +1.5
EXT WisdomTree Total Earnings 32.8 28 -10 6.7 -0.7
TUSA First Trust Total US Market AlphaDEX 32.5 70 -52 6.1 -1.4
FNDB Schwab Fundamental Broad Mkt 31.4 25 -7 5.6 -1.8
FAB First Trust Multi Cap Value 31.4 71 -53 8.3 +0.9
VLU SPDR S&P 1500 Value Tilt 31.3 12 6 7.1 -0.3
ONEO SPDR Russell 1000 Momentum Focus 30.7 20 -2 6.6 -0.8
TILT Flexshares Morningstar US Market Factor Tilt 30.7 25 -7 5.8 -1.6
PRF Invesco FTSE-RAFI U.S. 1000 30.5 39 -21 6.3 -1.1
FNDX Schwab Fundamental Large Cap 30.4 25 -7 5.5 -1.9
JHML John Hancock Multifactor Large Cap 30.2 34 -16 5.6 -1.8
BFOR Barron's 400 30.1 66 -48 5.6 -1.8
VFMO Vanguard U.S. Momentum Factor 29.6 13 5 3.3 -4.2
OMOM Invesco Russell 1000 Momentum Factor ETF 29.5 19 -1 5.8 -1.6
EPS WisdomTree Earnings 500 29.5 8 10 6.7 -0.7
DEUS Xtrackers Russell 1000 Comprehensive Factor 28.7 17 1 6.5 -0.9
USEQ Invesco Russell 1000 Enhanced Equal Weight 28.6 29 -11 6.5 -1.0
DIVB iShares U.S. Dividend & Buyback 28.5 25 -7 6.6 -0.8

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

Content on this tab for subscribers only

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 15.5 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.56
 
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.