Vanguard U.S. Minimum Volatility ETF
ALTAR
Score™
4.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
26.3x P/Sales
ratio
2.9x
P/BV
ratio
3.8x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fund seeks to provide long-term capital appreciation with lower volatility relative to the broad U.S. equity market.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard
Website www.vangaurd.com
Inception date Feb 13, 2018
Assets (mns) $75
Currency USD
Expense ratio 13 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 126
Wgt avg mkt cap (mns) $150,246
Large cap (>$10bn) 66.5%
Mid cap ($2-10bn) 18.7%
Small cap (<$2bn) 14.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SHUTTERSTOCK INC 1.7 %
SERVICE CORP INTERNATIONAL 1.6 %
TYLER TECHNOLOGIES INC 1.6 %
ALPHABET INC. CLASS A 1.6 %
REPUBLIC SERVICES INC 1.6 %
WAL-MART STORES INC 1.6 %
T-MOBILE US, INC. 1.6 %
TEXAS INSTRUMENTS INC 1.6 %
VERIZON COMMUNICATIONS INC 1.5 %
JOHNSON & JOHNSON 1.5 %
Total 15.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.5 %
IRELAND 0.9 %
BRITAIN 0.1 %
CAYMAN ISLANDS 0.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.0% -8.7% -- -- 4.6%

Market Correlations
versus... Beta R-squared
S&P500 0.80 86%
MSCI EAFE 0.85 79%
MSCI Emg. Mkts. 0.58 55%

Technical Indicators
Recent close $85.44
30d moving avg. $84.52
Annualized volatility 15.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.3%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $67,511

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Vanguard U.S. Minimum Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with VFMV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VFMV Expense: 13 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VFMV
Ticker Fund
Name
Overlap1
vs VFMV
(%)
Expense
ratio
(bp)
Savings
vs VFMV
(bp)
ALTAR
Score™
(%)
ALTAR
vs VFMV
(%)
USMV iShares Edge MSCI Min Vol USA ETF 34.2 15 -2 5.4 +1.1
SPLV Invesco S&P 500 Low Volatility ETF 29.0 25 -12 5.5 +1.2
FDLO Fidelity Low Volatility Factor ETF 28.9 29 -16 5.0 +0.7
QUS SPDR MSCI USA StrategicFactors ETF 27.8 15 -2 5.5 +1.2
JQUA JPMorgan U.S. Quality Factor ETF 27.6 12 1 5.1 +0.8
DEF Invesco Defensive Equity ETF 26.9 55 -42 5.1 +0.8
GBLO Global Beta Low Beta ETF 26.4 29 -16 7.2 +2.9
FLRG Fidelity U.S. Multifactor ETF 26.4 29 -16 6.2 +1.9
ROUS Hartford Multifactor US Equity ETF 26.1 19 -6 6.2 +1.9
FLQL Franklin LibertyQ U.S. Equity ETF 25.9 15 -2 5.9 +1.6
SPQQ Siren Large Cap Blend Index ETF 25.4 20 -7 4.5 +0.2
FVL First Trust Value Line 100 Exchange-Traded Fund 25.0 70 -57 4.9 +0.6
AFLG First Trust Active Factor Large Cap ETF 24.7 55 -42 4.9 +0.6
QLC FlexShares US Quality Large Cap Index Fund 24.2 32 -19 4.9 +0.6
MTUM iShares MSCI USA Momentum Factor ETF 24.0 15 -2 4.1 -0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 23.9 9 4 5.3 +1.0
QLV FlexShares US Quality Low Volatility Index Fund 23.7 22 -9 4.7 +0.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 23.6 30 -17 6.1 +1.8
SPMV Invesco S&P 500 Minimum Variance ETF 23.5 10 3 5.5 +1.2
SPXN ProShares S&P 500 Ex-Financials ETF 23.4 27 -14 4.7 +0.4
HUSV First Trust Horizon Managed Volatility Domestic ETF 23.2 70 -57 5.6 +1.3
FLLV Franklin Liberty U.S. Low Volatility ETF 23.1 29 -16 5.2 +0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 23.1 29 -16 5.2 +0.9
IWL iShares Russell Top 200 ETF 22.3 15 -2 4.7 +0.4
LSLT Salt Low truBeta US Market ETF 22.2 60 -47 5.6 +1.3
MGC Vanguard Mega Cap Index Fund 22.2 7 6 4.8 +0.5
OEF iShares S&P 100 ETF 22.1 20 -7 4.6 +0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 22.1 0 13 4.8 +0.5
RBUS Nationwide Risk-Based U.S. Equity ETF 22.1 30 -17 4.7 +0.4
SPXE ProShares S&P 500 Ex-Energy ETF 22.0 27 -14 4.9 +0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 22.0 20 -7 5.0 +0.7
PBP Invesco S&P 500 BuyWrite ETF 22.0 49 -36 4.7 +0.4
HSPX Global X S&P 500 Covered Call ETF 21.9 60 -47 4.6 +0.3
ESGV Vanguard ESG U.S. Stock ETF 21.8 12 1 4.8 +0.5
XYLG Global X S&P 500 Covered Call & Growth ETF 21.8 60 -47 4.7 +0.4
EPS WisdomTree U.S. Earnings 500 Fund 21.8 8 5 6.0 +1.7
XOUT GraniteShares XOUT U.S. Large Cap ETF 21.7 60 -47 3.9 -0.4
SPY SPDR S&P 500 ETF Trust 21.7 9 4 5.0 +0.7
IVV iShares Core S&P 500 ETF 21.7 3 10 5.1 +0.8
SPLG SPDR Portfolio Large Cap ETF 21.7 3 10 5.1 +0.8
SFY SoFi Select 500 ETF 21.7 0 13 4.8 +0.5
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 21.7 25 -12 5.7 +1.4
ACWV iShares Edge MSCI Min Vol Global ETF 21.6 20 -7 5.5 +1.2
STLC iShares Factors US Blend Style ETF 21.6 25 -12 5.0 +0.7
VOO VANGUARD S&P 500 ETF 21.5 3 10 5.1 +0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 21.5 12 1 4.2 -0.1
FQAL Fidelity Quality Factor ETF 21.5 29 -16 5.2 +0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 21.5 7 6 4.9 +0.6
PBUS Invesco PureBeta MSCI USA ETF 21.2 4 9 4.9 +0.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 21.1 2 11 4.9 +0.6
VV Vanguard Large-Cap Index Fund 21.1 4 9 4.9 +0.6
JMOM JPMorgan U.S. Momentum Factor ETF 21.0 12 1 3.3 -1.0
KRMA Global X Conscious Companies ETF 21.0 43 -30 4.9 +0.6
IQSU IQ Candriam ESG US Equity ETF 21.0 9 4 4.8 +0.5
QDEF FlexShares Quality Dividend Defensive Index Fund 20.9 37 -24 5.8 +1.5
EQWL Invesco Russell Top 200 Equal Weight ETF 20.9 25 -12 5.8 +1.5
SPTM SPDR Portfolio Total Stock Market ETF 20.8 3 10 5.1 +0.8
SCHX Schwab U.S. Large-Cap ETF 20.8 3 10 4.8 +0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 20.8 20 -7 4.6 +0.3
QWLD SPDR MSCI World StrategicFactors ETF 20.8 30 -17 5.7 +1.4
SPMO Invesco S&P 500 Momentum ETF 20.7 13 0 4.0 -0.3
DGRO iShares Core Dividend Growth ETF 20.7 8 5 6.3 +2.0
XLG Invesco S&P 500 Top 50 ETF 20.6 20 -7 4.3 +0.0
ACIO Aptus Collared Income Opportunity ETF 20.6 79 -66 4.4 +0.1
IWB iShares Russell 1000 ETF 20.6 15 -2 4.8 +0.5
SCHK Schwab 1000 Index ETF 20.6 5 8 4.9 +0.6
CCOR Core Alternative ETF 20.5 109 -96 4.5 +0.2
JHML John Hancock Multifactor Large Cap ETF 20.4 29 -16 5.1 +0.8
ESGU iShares MSCI USA ESG Optimized ETF 20.4 15 -2 4.7 +0.4
IYY iShares Dow Jones U.S. ETF 20.4 20 -7 4.7 +0.4
AUSF Global X Adaptive U.S. Factor ETF 20.4 27 -14 8.5 +4.2
QDF FlexShares Quality Dividend Index Fund 20.4 37 -24 5.7 +1.4
SNPE Xtrackers S&P 500 ESG ETF 20.3 10 3 4.8 +0.5
EFIV SPDR S&P 500 ESG ETF 20.3 10 3 4.8 +0.5
USMF WisdomTree U.S. Multifactor Fund 20.3 28 -15 5.6 +1.3
VTHR Vanguard Russell 3000 Index Fund 20.2 10 3 4.7 +0.4
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 20.1 12 1 4.6 +0.3
LGLV SPDR Russell 1000 Low Volatility ETF 19.9 12 1 5.2 +0.9
JMIN JPMorgan U.S. Minimum Volatility ETF 19.9 12 1 5.3 +1.0
WOMN Impact Shares YWCA Women's Empowerment ETF 19.8 75 -62 3.9 -0.4
IWV iShares Russell 3000 ETF 19.8 20 -7 4.6 +0.3
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 19.8 35 -22 6.7 +2.4
SCHB Schwab U.S. Broad Market ETF 19.7 3 10 4.8 +0.5
ESG FlexShares STOXX US ESG Impact Index Fund 19.7 32 -19 4.8 +0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 19.7 28 -15 6.1 +1.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 19.6 3 10 4.7 +0.4
FDMO Fidelity Momentum Factor ETF 19.6 29 -16 3.2 -1.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 19.6 28 -15 6.2 +1.9
FTCS First Trust Capital Strength ETF 19.6 58 -45 5.1 +0.8
EXT WisdomTree U.S. Total Earnings Fund 19.5 28 -15 5.2 +0.9
VTI Vanguard Total Stock Market Index Fund 19.3 3 10 4.7 +0.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 19.3 49 -36 3.9 -0.4
SPXT ProShares S&P 500 Ex-Technology ETF 19.3 27 -14 5.2 +0.9
SUSL iShares ESG MSCI USA Leaders ETF 19.2 10 3 5.0 +0.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 19.2 10 3 5.0 +0.7
VONE Vanguard Russell 1000 ETF 19.2 8 5 4.8 +0.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 19.2 19 -6 5.6 +1.3
DTD WisdomTree U.S.Total Dividend Fund 19.1 28 -15 6.3 +2.0
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 19.1 59 -46 4.1 -0.2

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. Minimum Volatility 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 15.5 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.50
 
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.