Vanguard U.S. Multifactor ETF
ALTAR
Score™
6.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
18.9x P/Sales
ratio
1.3x
P/BV
ratio
2.7x Div.
yield
1.5%


  • 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) $67
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 575
Wgt avg mkt cap (mns) $75,464
Large cap (>$10bn) 48.7%
Mid cap ($2-10bn) 31.1%
Small cap (<$2bn) 19.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TARGET CORP 0.9 %
HCA HOLDINGS INC 0.9 %
APPLE INC 0.9 %
EBAY INC 0.8 %
T ROWE PRICE GROUP INC 0.8 %
WAL-MART STORES INC 0.6 %
MICRON TECHNOLOGY INC 0.6 %
DOW, INC. 0.6 %
LOWE'S COS INC 0.6 %
EATON CORP PLC 0.6 %
Total 7.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 86.4 %
IRELAND 1.3 %
BRITAIN 1.0 %
BERMUDA 0.8 %
PUERTO RICO 0.5 %
CAYMAN ISLANDS 0.2 %
SWITZERLAND 0.2 %
CANADA 0.1 %
MONACO 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.
4.9% 4.9% -- -- 4.9%

Market Correlations
versus... Beta R-squared
S&P500 1.14 93%
MSCI EAFE 1.09 84%
MSCI Emg. Mkts. 0.90 72%

Technical Indicators
Recent close $89.89
30d moving avg. $85.36
Annualized volatility 22.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.7%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $130,872

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 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™: 6.1%


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 47.6 13 6 5.3 -0.8
VFVA Vanguard U.S. Value Factor ETF 34.5 14 5 8.4 +2.3
BFOR Barron's 400 ETF 33.0 65 -46 5.5 -0.6
AVUS Avantis U.S. Equity ETF 32.9 15 4 4.8 -1.3
ONEO SPDR Russell 1000 Momentum Focus ETF 32.0 20 -1 5.6 -0.5
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 31.7 29 -10 7.2 +1.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 30.6 17 2 5.6 -0.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 29.5 30 -11 5.0 -1.0
VFMO Vanguard U.S. Momentum Factor ETF 29.3 13 6 1.4 -4.7
ESGV Vanguard ESG U.S. Stock ETF 29.2 12 7 4.5 -1.6
ROUS Hartford Multifactor US Equity ETF 29.2 19 0 5.9 -0.2
TUSA First Trust Total US Market AlphaDEX ETF 29.0 70 -51 4.8 -1.3
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 28.6 29 -10 6.0 -0.1
JHML John Hancock Multifactor Large Cap ETF 28.4 29 -10 4.9 -1.2
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 28.4 35 -16 5.1 -1.0
CFA VictoryShares US 500 Volatility Weighted Index ETF 28.3 35 -16 5.0 -1.0
DYNF BlackRock U.S. Equity Factor Rotation ETF 28.1 30 -11 5.2 -0.9
JPUS JPMorgan Diversified Return U.S. Equity ETF 27.8 18 1 5.6 -0.5
AFLG First Trust Active Factor Large Cap ETF 27.7 55 -36 4.7 -1.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 27.1 25 -6 4.9 -1.2
VLU SPDR S&P 1500 Value Tilt ETF 27.0 12 7 6.1 +0.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 27.0 25 -6 5.7 -0.4
PRF Invesco FTSE RAFI US 1000 ETF 27.0 39 -20 5.8 -0.3
DFAU Dimensional US Core Equity Market ETF 26.5 12 7 4.7 -1.4
EPS WisdomTree U.S. Earnings 500 Fund 26.5 8 11 5.9 -0.2
RESP WisdomTree US ESG Fund of Benef Interest 26.3 28 -9 5.1 -1.0
IUS Invesco Strategic US ETF 26.2 19 0 5.5 -0.6
FSMD Fidelity Small-Mid Factor ETF 26.1 29 -10 5.2 -0.9
RSP Invesco S&P 500 Equal Weight ETF 26.0 20 -1 5.6 -0.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 25.9 25 -6 5.8 -0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 25.7 12 7 4.0 -2.1
JVAL JPMorgan U.S. Value Factor ETF 25.4 12 7 7.1 +1.1
FAB First Trust Multi Cap Value AlphaDEX Fund 25.3 71 -52 7.5 +1.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 25.1 17 2 6.1 0.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 25.0 9 10 4.8 -1.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 24.7 19 0 5.3 -0.8
VTHR Vanguard Russell 3000 Index Fund 24.5 10 9 4.4 -1.7
SPTM SPDR Portfolio Total Stock Market ETF 24.5 3 16 4.8 -1.3
VUSE Vident Core US Equity Fund 24.5 48 -29 7.3 +1.2
EUSA iShares MSCI USA Equal Weighted ETF 24.5 15 4 5.1 -1.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 24.5 9 10 5.0 -1.1
RWL Invesco S&P 500 Revenue ETF 24.4 39 -20 6.2 +0.2
SIZE iShares MSCI USA Size Factor ETF 24.0 15 4 5.1 -1.0
IWV iShares Russell 3000 ETF 24.0 20 -1 4.3 -1.8
SCHB Schwab U.S. Broad Market ETF 24.0 3 16 4.5 -1.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.9 3 16 4.4 -1.7
FEX First Trust Large Cap Core AlphaDEX Fund 23.5 60 -41 4.7 -1.4
IYY iShares Dow Jones U.S. ETF 23.5 20 -1 4.4 -1.7
VTI Vanguard Total Stock Market Index Fund 23.5 3 16 4.4 -1.7
IWB iShares Russell 1000 ETF 23.4 15 4 4.5 -1.6
FLQL Franklin LibertyQ U.S. Equity ETF 23.4 15 4 5.9 -0.1
RNLC Large Cap US Equity Select ETF 23.4 60 -41 5.2 -0.8
SCHK Schwab 1000 Index ETF 23.3 5 14 4.6 -1.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 23.2 20 -1 4.8 -1.3
PBP Invesco S&P 500 BuyWrite ETF 23.1 49 -30 4.3 -1.8
SCHX Schwab U.S. Large-Cap ETF 23.0 3 16 4.6 -1.5
VALQ American Century STOXX U.S. Quality Value ETF 23.0 29 -10 7.8 +1.8
QUS SPDR MSCI USA StrategicFactors ETF 22.9 15 4 5.3 -0.8
XYLG Global X S&P 500 Covered Call & Growth ETF 22.9 60 -41 4.4 -1.7
PBUS Invesco PureBeta MSCI USA ETF 22.8 4 15 4.6 -1.5
SPY SPDR S&P 500 ETF Trust 22.8 9 10 4.7 -1.4
SPLG SPDR Portfolio Large Cap ETF 22.8 3 16 4.7 -1.4
IVV iShares Core S&P 500 ETF 22.7 3 16 4.7 -1.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 22.7 20 -1 4.6 -1.5
XVV iShares ESG Screened S&P 500 ETF 22.6 8 11 4.9 -1.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 22.6 39 -20 3.9 -2.2
VOO VANGUARD S&P 500 ETF 22.5 3 16 4.8 -1.3
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 22.5 24 -5 4.9 -1.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 22.5 2 17 4.6 -1.5
FAD First Trust Multi Cap Growth AlphaDEX Fund 22.4 66 -47 1.8 -4.3
SPXE ProShares S&P 500 Ex-Energy ETF 22.4 27 -8 4.6 -1.5
CATH Global X S&P 500 Catholic Values Custom ETF 22.3 29 -10 4.6 -1.5
VONE Vanguard Russell 1000 ETF 22.2 8 11 4.6 -1.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 22.2 7 12 4.5 -1.6
VV Vanguard Large-Cap Index Fund 22.2 4 15 4.6 -1.5
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 22.0 35 -16 5.1 -1.0
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 21.8 20 -1 6.6 +0.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 21.8 20 -1 3.8 -2.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 21.6 60 -41 3.6 -2.5
VONV Vanguard Russell 1000 Value Index Fund 21.6 8 11 6.1 +0.1
DIVB iShares U.S. Dividend & Buyback ETF 21.6 25 -6 5.9 -0.2
JHMM John Hancock Multifactor Mid Cap ETF 21.6 42 -23 4.7 -1.4
JOET Virtus Terranova US Quality Momentum ETF 21.5 29 -10 4.6 -1.5
RECS Columbia Research Enhanced Core ETF 21.3 15 4 5.1 -1.0
ESGU iShares MSCI USA ESG Optimized ETF 21.3 15 4 4.4 -1.7
KRMA Global X Conscious Companies ETF 21.3 43 -24 4.8 -1.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 21.1 17 2 4.0 -2.1
IWD iShares Russell 1000 Value ETF 20.9 19 0 6.0 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 20.8 27 -8 4.4 -1.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 20.8 6 13 4.0 -2.1
SFY SoFi Select 500 ETF 20.8 0 19 4.6 -1.5
JQUA JPMorgan U.S. Quality Factor ETF 20.8 12 7 5.1 -1.0
SCHV Schwab U.S. Large-Cap Value ETF 20.8 4 15 6.1 0.0
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 20.7 30 -11 6.0 -0.1
JCTR JPMorgan Carbon Transition U.S. Equity ETF 20.7 15 4 4.7 -1.4
DTD WisdomTree U.S.Total Dividend Fund 20.5 28 -9 6.3 +0.2
EFIV SPDR S&P 500 ESG ETF 20.5 10 9 4.6 -1.5

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 15.1 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.