Vanguard U.S. Multifactor ETF
ALTAR
Score™
7.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
16.3x P/Sales
ratio
1.1x
P/BV
ratio
2.2x 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) $59
Currency USD
Expense ratio 19 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 570
Wgt avg mkt cap (mns) $95,487
Large cap (>$10bn) 49.8%
Mid cap ($2-10bn) 26.6%
Small cap (<$2bn) 23.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TARGET CORP 1.2 %
APPLE INC 1.1 %
S&P GLOBAL, INC. 1.0 %
MICROSOFT CORP 0.9 %
WAL-MART STORES INC 0.9 %
HUMANA INC 0.8 %
APPLIED MATERIALS INC 0.8 %
LOWE'S COS INC 0.8 %
BIOGEN IDEC INC 0.8 %
MOODY'S CORP 0.8 %
Total 9.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.5 %
IRELAND 1.1 %
BRITAIN 0.9 %
BERMUDA 0.5 %
NETHERLANDS 0.3 %
SWITZERLAND 0.3 %
ISRAEL 0.3 %
PUERTO RICO 0.2 %
SINGAPORE 0.2 %
CAYMAN ISLANDS 0.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.2% -4.2% -- -- -1.2%

Market Correlations
versus... Beta R-squared
S&P500 1.14 94%
MSCI EAFE 1.20 86%
MSCI Emg. Mkts. 0.88 70%

Technical Indicators
Recent close $71.18
30d moving avg. $72.14
Annualized volatility 21.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.2%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $8,642

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: 19 bp ALTAR Score™: 7.6%


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 49.8 13 6 6.6 -1.0
ROUS Hartford Multifactor US Equity ETF 35.6 19 0 6.5 -1.1
BFOR Barron's 400 ETF 34.3 65 -46 6.7 -0.9
ONEO SPDR Russell 1000 Momentum Focus ETF 33.2 20 -1 6.5 -1.1
AVUS Avantis U.S. Equity ETF 32.9 15 4 6.0 -1.7
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 32.3 17 2 6.4 -1.2
VFVA Vanguard U.S. Value Factor ETF 31.6 14 5 11.5 +3.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 30.7 29 -10 6.2 -1.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 30.6 30 -11 6.8 -0.9
AFLG First Trust Active Factor Large Cap ETF 30.5 55 -36 5.9 -1.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 30.3 19 0 6.5 -1.1
EXT WisdomTree U.S. Total Earnings Fund 30.3 28 -9 5.9 -1.8
JHML John Hancock Multifactor Large Cap ETF 30.1 29 -10 5.7 -1.9
FLQL Franklin LibertyQ U.S. Equity ETF 29.4 15 4 6.2 -1.4
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 29.2 35 -16 5.8 -1.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 29.2 25 -6 7.2 -0.5
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 28.9 25 -6 6.6 -1.0
CFA VictoryShares US 500 Volatility Weighted Index ETF 28.9 35 -16 5.8 -1.8
VLU SPDR S&P 1500 Value Tilt ETF 28.8 12 7 7.6 -0.0
TUSA First Trust Total US Market AlphaDEX ETF 28.6 70 -51 6.0 -1.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 28.6 9 10 5.9 -1.7
JVAL JPMorgan U.S. Value Factor ETF 28.5 12 7 8.6 +1.0
PRF Invesco FTSE RAFI US 1000 ETF 28.5 39 -20 7.2 -0.5
SCIU Global X Scientific Beta US ETF 28.3 19 0 5.8 -1.8
JPUS JPMorgan Diversified Return U.S. Equity ETF 28.2 18 1 6.3 -1.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 28.2 25 -6 7.1 -0.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 27.9 29 -10 7.0 -0.7
FSMD Fidelity Small-Mid Factor ETF 27.9 29 -10 6.5 -1.1
EPS WisdomTree U.S. Earnings 500 Fund 27.5 8 11 6.9 -0.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 27.5 17 2 6.5 -1.1
VFMO Vanguard U.S. Momentum Factor ETF 27.4 13 6 0.8 -6.8
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 27.2 20 -1 7.6 +0.0
VUSE Vident Core US Equity Fund 27.0 48 -29 9.2 +1.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 26.8 12 7 5.6 -2.1
SPTM SPDR Portfolio Total Stock Market ETF 26.6 3 16 5.9 -1.7
RWL Invesco S&P 500 Revenue ETF 26.6 39 -20 7.5 -0.2
IUS Invesco Strategic US ETF 26.5 19 0 6.8 -0.8
RECS Columbia Research Enhanced Core ETF 26.3 15 4 6.1 -1.5
ESGV Vanguard ESG U.S. Stock ETF 26.1 12 7 5.5 -2.1
JQUA JPMorgan U.S. Quality Factor ETF 26.1 12 7 5.5 -2.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 26.0 75 -56 4.0 -3.6
VTHR Vanguard Russell 3000 Index Fund 26.0 10 9 5.4 -2.2
IWV iShares Russell 3000 ETF 25.7 20 -1 5.3 -2.3
SCHB Schwab U.S. Broad Market ETF 25.7 3 16 5.5 -2.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 25.6 3 16 5.4 -2.2
QLC FlexShares US Quality Large Cap Index Fund 25.6 32 -13 5.6 -2.0
PBP Invesco S&P 500 BuyWrite ETF 25.5 49 -30 5.3 -2.3
RSP Invesco S&P 500 Equal Weight ETF 25.4 20 -1 6.7 -1.0
IYY iShares Dow Jones U.S. ETF 25.4 20 -1 5.4 -2.2
SCHK Schwab 1000 Index ETF 25.3 5 14 5.6 -2.1
VALQ American Century STOXX U.S. Quality Value ETF 25.3 29 -10 9.1 +1.5
FAB First Trust Multi Cap Value AlphaDEX Fund 25.3 71 -52 10.1 +2.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 25.3 20 -1 5.7 -1.9
QUS SPDR MSCI USA StrategicFactors ETF 25.2 15 4 6.0 -1.6
IWB iShares Russell 1000 ETF 25.2 15 4 5.5 -2.2
USMF WisdomTree U.S. Multifactor Fund 25.2 28 -9 5.8 -1.8
IVV iShares Core S&P 500 ETF 25.2 3 16 5.8 -1.8
SPLG SPDR Portfolio Large Cap ETF 25.1 3 16 5.8 -1.8
SPY SPDR S&P 500 ETF Trust 25.1 9 10 5.7 -1.9
VTI Vanguard Total Stock Market Index Fund 25.1 3 16 5.4 -2.2
XYLG Global X S&P 500 Covered Call & Growth ETF 25.1 60 -41 5.3 -2.3
SPXE ProShares S&P 500 Ex-Energy ETF 25.1 27 -8 5.7 -2.0
HSPX Global X S&P 500 Covered Call ETF 25.0 60 -41 5.3 -2.3
VONE Vanguard Russell 1000 ETF 25.0 8 11 5.5 -2.1
SCHX Schwab U.S. Large-Cap ETF 24.9 3 16 5.5 -2.1
VOO VANGUARD S&P 500 ETF 24.9 3 16 5.8 -1.8
PBUS Invesco PureBeta MSCI USA ETF 24.8 4 15 5.6 -2.0
DIVB iShares U.S. Dividend & Buyback ETF 24.8 25 -6 7.1 -0.5
QDYN FlexShares Quality Dividend Dynamic Index Fund 24.8 37 -18 6.6 -1.0
FEX First Trust Large Cap Core AlphaDEX Fund 24.6 60 -41 6.0 -1.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 24.6 2 17 5.6 -2.0
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 24.4 7 12 5.6 -2.0
VV Vanguard Large-Cap Index Fund 24.2 4 15 5.6 -2.1
CATH Global X S&P 500 Catholic Values Custom ETF 24.2 29 -10 5.5 -2.1
SFY SoFi Select 500 ETF 24.1 0 19 5.4 -2.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 23.7 20 -1 5.3 -2.3
RNLC Large Cap US Equity Select ETF 23.7 60 -41 6.2 -1.4
ESGU iShares MSCI USA ESG Optimized ETF 23.6 15 4 5.5 -2.2
FVL First Trust Value Line 100 Exchange-Traded Fund 23.5 70 -51 5.3 -2.4
EUSA iShares MSCI USA Equal Weighted ETF 23.3 15 4 6.2 -1.4
IUSV iShares Core S&P U.S. Value ETF 23.3 4 15 7.5 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 23.2 27 -8 5.4 -2.2
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 23.1 9 10 6.0 -1.6
SIZE iShares Edge MSCI USA Size Factor ETF 22.9 15 4 6.2 -1.4
DTD WisdomTree U.S.Total Dividend Fund 22.8 28 -9 7.0 -0.6
SPXT ProShares S&P 500 Ex-Technology ETF 22.7 27 -8 5.5 -2.1
SCHV Schwab U.S. Large-Cap Value ETF 22.5 4 15 6.9 -0.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 22.5 20 -1 5.1 -2.5
VOOV Vanguard S&P 500 Value ETF 22.3 10 9 7.4 -0.3
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 22.3 24 -5 6.7 -0.9
RAFE PIMCO RAFI ESG U.S. ETF 22.2 29 -10 7.7 +0.0
IVE iShares S&P 500 Value ETF 22.2 18 1 7.3 -0.4
SPYV SPDR Portfolio S&P 500 Value ETF 22.2 4 15 7.4 -0.2
SNPE Xtrackers S&P 500 ESG ETF 22.2 10 9 5.6 -2.0
EFIV SPDR S&P 500 ESG ETF 22.2 10 9 5.6 -2.0
MGC Vanguard Mega Cap Index Fund 22.2 7 12 5.6 -2.0
REVS Columbia Research Enhanced Value ETF 22.1 19 0 7.5 -0.1
KRMA Global X Conscious Companies ETF 22.0 43 -24 5.6 -2.1
FAD First Trust Multi Cap Growth AlphaDEX Fund 21.8 66 -47 2.4 -5.2
ESG FlexShares STOXX US ESG Impact Index Fund 21.7 32 -13 5.4 -2.3

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. 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 15.9 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.