Vanguard U.S. Quality Factor ETF
ALTAR
Score™		 6.1% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 25.9x P/Sales
ratio		 1.3x
P/BV
ratio		 2.3x Div.
yield		 1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fund seeks to provide long-term capital appreciation by investing in stocks with strong fundamentals as determined by the advisor.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard
Website www.vangaurd.com
Inception date Feb 13, 2018
Assets (mns) $45
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 797
Wgt avg mkt cap (mns) $63,181
Large cap (>$10bn) 48.8%
Mid cap ($2-10bn) 25.1%
Small cap (<$2bn) 26.1%
Developed mkts 99.9%
Emerging mkts 0.2%

TOP TEN HOLDINGS
APPLE INC 1.0 %
EBAY INC 0.9 %
ADOBE SYSTEMS INC 0.9 %
TEXAS INSTRUMENTS INC 0.9 %
CISCO SYSTEMS INC 0.9 %
AON PLC 0.8 %
WAL-MART STORES INC 0.8 %
INTUIT INC 0.8 %
TARGET CORP 0.8 %
S&P GLOBAL, INC. 0.8 %
Total 8.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.2 %
IRELAND 1.4 %
BRITAIN 1.0 %
SWITZERLAND 0.6 %
BERMUDA 0.3 %
LUXEMBOURG 0.3 %
NETHERLANDS 0.3 %
PUERTO RICO 0.2 %
CANADA 0.2 %
ISRAEL 0.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-8.6% -0.0% -- -- 2.3%

Market Correlations
versus... Beta R-squared
S&P500 1.18 95%
MSCI EAFE 1.19 82%
MSCI Emg. Mkts. 0.89 68%

Technical Indicators
Recent close $78.15
30d moving avg. $78.30
Annualized volatility 22.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $135,560

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Vanguard U.S. Quality Factor ETF ETF based on the alternatives' overlap in portfolio holdings with VFQY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VFQY Expense: 13 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VFQY
Ticker Fund
Name		 Overlap1
vs VFQY
(%)		 Expense
ratio
(bp)		 Savings
vs VFQY
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs VFQY
(%)
VFMF Vanguard U.S. Multifactor ETF 48.2 19 -6 7.3 +1.2
AVUS Avantis U.S. Equity ETF 35.2 15 -2 5.8 -0.3
JQUA JPMorgan U.S. Quality Factor ETF 31.4 12 1 5.3 -0.9
JHML John Hancock Multifactor Large Cap ETF 30.6 29 -16 5.6 -0.5
ONEO SPDR Russell 1000 Momentum Focus ETF 30.2 20 -7 6.5 +0.4
FLQL Franklin LibertyQ U.S. Equity ETF 29.5 15 -2 6.3 +0.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 29.2 35 -22 6.0 -0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 29.2 29 -16 6.8 +0.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 29.0 19 -6 5.7 -0.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 29.0 25 -12 6.7 +0.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 28.9 17 -4 6.4 +0.3
FNDB Schwab Fundamental U.S. Broad Market Index ETF 28.8 25 -12 6.6 +0.5
AFLG First Trust Active Factor Large Cap ETF 28.6 55 -42 5.6 -0.5
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 28.5 75 -62 3.8 -2.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 28.5 9 4 5.6 -0.5
DYNF BlackRock U.S. Equity Factor Rotation ETF 28.4 30 -17 6.6 +0.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 28.3 29 -16 6.3 +0.2
TUSA First Trust Total US Market AlphaDEX ETF 28.0 70 -57 6.0 -0.1
QUS SPDR MSCI USA StrategicFactors ETF 27.8 15 -2 5.9 -0.2
SPTM SPDR Portfolio Total Stock Market ETF 27.7 3 10 5.6 -0.5
BFOR Barron's 400 ETF 27.5 65 -52 6.4 +0.3
EXT WisdomTree U.S. Total Earnings Fund 27.5 28 -15 5.3 -0.8
IWV iShares Russell 3000 ETF 27.4 20 -7 5.1 -1.0
VTHR Vanguard Russell 3000 Index Fund 27.3 10 3 5.2 -0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 27.3 25 -12 6.6 +0.5
SCHB Schwab U.S. Broad Market ETF 27.2 3 10 5.3 -0.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 27.2 3 10 5.2 -0.9
VTI Vanguard Total Stock Market Index Fund 27.0 3 10 5.2 -0.9
IYY iShares Dow Jones U.S. ETF 26.8 20 -7 5.2 -0.9
IWB iShares Russell 1000 ETF 26.6 15 -2 5.2 -0.9
ESGV Vanguard ESG U.S. Stock ETF 26.6 12 1 5.2 -0.9
SCHK Schwab 1000 Index ETF 26.6 5 8 5.3 -0.8
VONE Vanguard Russell 1000 ETF 26.4 8 5 5.3 -0.8
VFLQ Vanguard U.S. Liquidity Factor ETF 26.3 14 -1 4.7 -1.4
PRF Invesco FTSE RAFI US 1000 ETF 26.2 39 -26 6.9 +0.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 26.2 20 -7 6.0 -0.1
DIVB iShares U.S. Dividend & Buyback ETF 26.2 25 -12 6.7 +0.6
RSP Invesco S&P 500 Equal Weight ETF 26.1 20 -7 6.8 +0.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 26.1 6 7 5.4 -0.7
SCHX Schwab U.S. Large-Cap ETF 26.1 3 10 5.3 -0.8
PBP Invesco S&P 500 BuyWrite ETF 26.0 49 -36 5.0 -1.1
IUSG iShares Core S&P US Growth ETF 25.9 4 9 4.4 -1.7
SCIU Global X Scientific Beta US ETF 25.9 19 -6 5.8 -0.3
EPS WisdomTree U.S. Earnings 500 Fund 25.8 8 5 6.5 +0.4
SPLG SPDR Portfolio Large Cap ETF 25.8 3 10 5.5 -0.7
SPY SPDR S&P 500 ETF Trust 25.8 9 4 5.4 -0.7
SPXE ProShares S&P 500 Ex-Energy ETF 25.8 27 -14 5.4 -0.7
IVV iShares Core S&P 500 ETF 25.7 4 9 5.5 -0.7
PBUS Invesco PureBeta MSCI USA ETF 25.7 4 9 5.3 -0.8
VOO VANGUARD S&P 500 ETF 25.7 3 10 5.5 -0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 25.7 20 -7 5.0 -1.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 25.6 20 -7 5.4 -0.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 25.5 66 -53 2.5 -3.6
EUSA iShares MSCI USA Equal Weighted ETF 25.5 15 -2 6.3 +0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 25.5 2 11 5.4 -0.8
HSPX Global X S&P 500 Covered Call ETF 25.5 65 -52 4.9 -1.2
IUSS Invesco Strategic US Small Company ETF 25.4 23 -10 5.5 -0.6
VV Vanguard Large-Cap Index Fund 25.3 4 9 5.3 -0.8
IWF iShares Russell 1000 Growth ETF 25.3 19 -6 4.2 -1.9
ESGU iShares MSCI USA ESG Optimized ETF 25.3 15 -2 5.2 -1.0
IUS Invesco Strategic US ETF 25.3 19 -6 6.7 +0.6
VLU SPDR S&P 1500 Value Tilt ETF 25.1 12 1 7.5 +1.4
ROUS Hartford Multifactor US Equity ETF 25.1 19 -6 7.3 +1.2
SIZE iShares Edge MSCI USA Size Factor ETF 25.1 15 -2 6.4 +0.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 25.0 7 6 5.3 -0.9
VONG Vanguard Russell 1000 Growth Index Fund 25.0 8 5 4.3 -1.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 24.8 39 -26 4.2 -1.9
RECS Columbia Research Enhanced Core ETF 24.7 15 -2 5.7 -0.4
EQAL Invesco Russell 1000 Equal Weight ETF 24.7 20 -7 5.7 -0.4
SPXN ProShares S&P 500 Ex-Financials ETF 24.5 27 -14 5.0 -1.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 24.4 9 4 5.9 -0.2
SCHA Schwab U.S. Small-Cap ETF 24.4 4 9 4.7 -1.4
SPYG SPDR Portfolio S&P 500 Growth ETF 24.3 4 9 4.4 -1.8
IVW iShares S&P 500 Growth ETF 24.3 18 -5 4.2 -1.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 24.2 25 -12 6.8 +0.7
SUSL iShares ESG MSCI USA Leaders ETF 24.2 10 3 5.3 -0.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 24.2 49 -36 4.1 -2.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 24.2 10 3 5.3 -0.8
KRMA Global X Conscious Companies ETF 24.2 43 -30 5.3 -0.9
VOOG Vanguard S&P 500 Growth ETF 24.2 10 3 4.3 -1.8
JPUS JPMorgan Diversified Return U.S. Equity ETF 24.1 18 -5 6.3 +0.2
DSI iShares MSCI KLD 400 Social ETF 24.1 25 -12 5.2 -1.0
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 24.1 17 -4 6.6 +0.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 24.0 17 -4 5.2 -0.9
VB Vanguard Small-Cap ETF 24.0 5 8 5.4 -0.7
RNLC Large Cap US Equity Select ETF 23.9 60 -47 6.2 +0.1
DGRO iShares Core Dividend Growth ETF 23.9 8 5 6.7 +0.6
SPXV ProShares S&P 500 Ex-Health Care ETF 23.9 27 -14 5.1 -1.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 23.8 12 1 5.0 -1.1
CATH Global X S&P 500 Catholic Values Custom ETF 23.8 29 -16 5.3 -0.9
SPHQ Invesco S&P 500 Quality ETF 23.7 15 -2 4.7 -1.5
DTD WisdomTree U.S.Total Dividend Fund 23.5 28 -15 6.7 +0.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 23.5 60 -47 4.4 -1.7
JHMM John Hancock Multifactor Mid Cap ETF 23.3 42 -29 5.8 -0.3
SFY SoFi Select 500 ETF 23.3 0 13 5.3 -0.8
FSMD Fidelity Small-Mid Factor ETF 23.1 29 -16 7.1 +1.0
VFMO Vanguard U.S. Momentum Factor ETF 23.1 13 0 1.2 -5.0
IWR iShares Russell Midcap ETF 22.6 19 -6 5.7 -0.5
QLC FlexShares US Quality Large Cap Index Fund 22.4 32 -19 5.4 -0.7
IWM iShares Russell 2000 ETF 22.4 19 -6 3.7 -2.5

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. Quality Factor ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.8 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 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.