Vanguard U.S. Minimum Volatility ETF
ALTAR
Score™
5.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.8x P/Sales
ratio
2.0x
P/BV
ratio
2.2x Div.
yield
3.1%


  • 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) $87
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 197
Wgt avg mkt cap (mns) $42,521
Large cap (>$10bn) 54.7%
Mid cap ($2-10bn) 20.1%
Small cap (<$2bn) 25.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 1.8 %
CITRIX SYSTEMS INC 1.8 %
WAL-MART STORES INC 1.6 %
TYLER TECHNOLOGIES INC 1.6 %
VERIZON COMMUNICATIONS INC 1.6 %
ELI LILLY & CO 1.6 %
EASTERLY GOVERNMENT PROPERTIES, IN 1.5 %
NEWMONT MINING CORP 1.5 %
GILEAD SCIENCES INC 1.5 %
EQUITY COMMONWEALTH 1.4 %
Total 15.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.5 %
IRELAND 1.6 %
BERMUDA 0.3 %
PUERTO RICO 0.1 %
CANADA 0.0 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.7% 5.4% -- -- 8.2%

Market Correlations
versus... Beta R-squared
S&P500 0.75 84%
MSCI EAFE 0.75 67%
MSCI Emg. Mkts. 0.49 38%

Technical Indicators
Recent close $72.41
30d moving avg. $80.99
Annualized volatility 12.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 33

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.9%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $59,684

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.8%


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 34.4 15 -2 6.5 +0.6
LVUS Hartford Multifactor Low Volatility US Equity ETF 28.7 19 -6 7.3 +1.4
FDLO Fidelity Low Volatility Factor ETF 27.6 29 -16 6.2 +0.4
DEF Invesco Defensive Equity ETF 25.8 55 -42 6.1 +0.2
ROUS Hartford Multifactor US Equity ETF 25.6 19 -6 8.7 +2.9
SPLV Invesco S&P 500 Low Volatility ETF 24.9 25 -12 6.2 +0.4
RBUS Nationwide Risk-Based U.S. Equity ETF 24.4 30 -17 6.8 +1.0
QUS SPDR MSCI USA StrategicFactors ETF 24.4 15 -2 7.0 +1.1
JMIN JPMorgan U.S. Minimum Volatility ETF 24.2 12 1 6.8 +1.0
ACWV iShares Edge MSCI Min Vol Global ETF 23.3 20 -7 6.5 +0.7
LSLT Salt Low truBeta US Market ETF 21.9 0 13 8.1 +2.3
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 21.4 35 -22 7.1 +1.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 21.4 19 -6 7.9 +2.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 21.3 20 -7 7.3 +1.4
LGLV SPDR Russell 1000 Low Volatility ETF 21.2 12 1 6.6 +0.8
USMF WisdomTree U.S. Multifactor Fund 20.9 28 -15 7.7 +1.9
FLQL Franklin LibertyQ U.S. Equity ETF 20.3 15 -2 7.7 +1.9
MXDU Nationwide Maximum Diversification US Core Equity ETF 19.6 34 -21 6.5 +0.6
QLV FlexShares US Quality Low Volatility Index Fund 19.4 22 -9 6.1 +0.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 19.4 30 -17 7.6 +1.7
DLN WisdomTree U.S. LargeCap Dividend Fund 19.3 28 -15 7.7 +1.9
AFLG First Trust Active Factor Large Cap ETF 19.1 55 -42 7.8 +1.9
IVE iShares S&P 500 Value ETF 19.0 18 -5 8.7 +2.9
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 19.0 9 4 7.0 +1.1
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 19.0 35 -22 7.6 +1.8
SPYV SPDR Portfolio S&P 500 Value ETF 18.9 4 9 8.8 +3.0
DTD WisdomTree U.S.Total Dividend Fund 18.8 28 -15 8.2 +2.4
IUSV iShares Core S&P U.S. Value ETF 18.8 4 9 9.0 +3.2
VOOV Vanguard S&P 500 Value ETF 18.7 15 -2 8.8 +2.9
VYM Vanguard High Dividend Yield Index ETF 18.6 6 7 8.6 +2.8
VTV Vanguard Value Index Fund 18.6 4 9 8.8 +3.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 18.6 29 -16 7.8 +2.0
JQUA JPMorgan U.S. Quality Factor ETF 18.6 12 1 6.4 +0.5
SPMV Invesco S&P 500 Minimum Variance ETF 18.4 10 3 7.0 +1.1
SCIU Global X Scientific Beta US ETF 18.4 19 -6 7.1 +1.3
SPXT ProShares S&P 500 Ex-Technology ETF 18.3 27 -14 7.1 +1.2
SCHV Schwab U.S. Large-Cap Value ETF 18.1 4 9 8.6 +2.8
RNLC Large Cap US Equity Select ETF 18.1 60 -47 7.7 +1.8
OUSA O'Shares FTSE US Quality Dividend ETF 18.1 48 -35 6.8 +0.9
HSPX Global X S&P 500 Covered Call ETF 17.9 65 -52 6.1 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 17.9 27 -14 6.4 +0.5
PBP Invesco S&P 500 BuyWrite ETF 17.8 49 -36 6.5 +0.7
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 17.7 25 -12 7.2 +1.4
RFDA RiverFront Dynamic US Dividend Advantage ETF 17.7 52 -39 7.5 +1.6
RECS Columbia Research Enhanced Core ETF 17.7 15 -2 7.2 +1.4
IWD iShares Russell 1000 Value ETF 17.7 19 -6 8.7 +2.9
VONV Vanguard Russell 1000 Value Index Fund 17.4 8 5 8.9 +3.1
QWLD SPDR MSCI World StrategicFactors ETF 17.4 30 -17 7.3 +1.4
MGV Vanguard Mega Cap Value ETF 17.1 7 6 8.5 +2.7
SPXE ProShares S&P 500 Ex-Energy ETF 17.0 27 -14 6.7 +0.8
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 17.0 20 -7 6.8 +0.9
DGRO iShares Core Dividend Growth ETF 17.0 8 5 8.1 +2.2
STLV iShares Factors US Value Style ETF 17.0 25 -12 9.5 +3.6
IVV iShares Core S&P 500 ETF 16.8 4 9 6.8 +1.0
SPY SPDR S&P 500 ETF Trust 16.8 9 4 6.8 +0.9
SPLG SPDR Portfolio Large Cap ETF 16.8 3 10 6.9 +1.0
JMOM JPMorgan U.S. Momentum Factor ETF 16.7 12 1 4.9 -1.0
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 16.7 15 -2 8.3 +2.5
CFA Victory CEMP US 500 Volatility Weighted Index ETF 16.6 35 -22 7.7 +1.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 16.5 25 -12 8.0 +2.2
VOO VANGUARD S&P 500 ETF 16.5 3 10 6.8 +1.0
PBUS Invesco PureBeta MSCI USA ETF 16.4 4 9 6.8 +1.0
PFM Invesco Dividend Achievers ETF 16.4 54 -41 6.2 +0.4
JHML John Hancock Multifactor Large Cap ETF 16.4 34 -21 7.1 +1.2
VV Vanguard Large-Cap Index Fund 16.4 4 9 6.7 +0.8
SCHX Schwab U.S. Large-Cap ETF 16.3 3 10 6.7 +0.9
IWB iShares Russell 1000 ETF 16.3 15 -2 6.7 +0.8
MGC Vanguard Mega Cap Index Fund 16.3 7 6 6.6 +0.7
SPTM SPDR Portfolio Total Stock Market ETF 16.2 3 10 7.0 +1.1
FQAL Fidelity Quality Factor ETF 16.2 29 -16 6.8 +0.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 16.1 25 -12 8.1 +2.3
SCHK Schwab 1000 Index ETF 16.1 5 8 6.7 +0.9
QDEF FlexShares Quality Dividend Defensive Index Fund 16.1 37 -24 7.6 +1.8
IYY iShares Dow Jones U.S. ETF 16.1 20 -7 6.6 +0.8
VONE Vanguard Russell 1000 ETF 16.1 8 5 6.7 +0.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 16.0 2 11 6.8 +0.9
PMOM Principal Sustainable Momentum Index ETF 16.0 29 -16 6.5 +0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 15.9 15 -2 6.7 +0.8
JDIV JPMorgan U.S. Dividend ETF 15.9 12 1 10.2 +4.3
IWV iShares Russell 3000 ETF 15.9 20 -7 6.5 +0.7
PRF Invesco FTSE RAFI US 1000 ETF 15.9 39 -26 8.8 +3.0
EPS WisdomTree U.S. Earnings 500 Fund 15.8 8 5 8.1 +2.3
SCHB Schwab U.S. Broad Market ETF 15.7 3 10 6.7 +0.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 15.7 3 10 6.7 +0.8
VTHR Vanguard Russell 3000 Index Fund 15.7 10 3 6.6 +0.8
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 15.6 49 -36 7.1 +1.3
VTI Vanguard Total Stock Market Index Fund 15.6 3 10 6.7 +0.8
SPMO Invesco S&P 500 Momentum ETF 15.5 13 0 5.0 -0.8
PSET Principal Price Setters Index ETF 15.5 29 -16 6.7 +0.8
IWL iShares Russell Top 200 ETF 15.5 15 -2 6.4 +0.5
VLU SPDR S&P 1500 Value Tilt ETF 15.3 12 1 9.2 +3.3
EQWL Invesco Russell Top 200 Equal Weight ETF 15.3 25 -12 7.3 +1.5
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 15.1 17 -4 8.4 +2.6
FLLV Franklin Liberty U.S. Low Volatility ETF 15.1 29 -16 6.8 +0.9
IUS Invesco Strategic US ETF 15.1 19 -6 7.6 +1.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 15.0 20 -7 6.4 +0.5
CCOR Core Alternative ETF 15.0 123 -110 5.3 -0.5
RSP Invesco S&P 500 Equal Weight ETF 14.9 20 -7 8.3 +2.4
IWX iShares Russell Top 200 Value ETF 14.8 20 -7 8.4 +2.6
AVUS Avantis U.S. Equity ETF 14.7 15 -2 7.6 +1.8

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

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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 13.2 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.52
 
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.