Vanguard FTSE Europe ETF
ALTAR
Score™
9.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
13.4x P/Sales
ratio
1.0x
P/BV
ratio
1.2x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Vanguard FTSE Europe ETF seeks to track the performance of the FTSE Developed Europe All Cap Index, which measures the investment return of stocks issued by companies located in the major markets of Europe.

FUND BASICS
Category International Equities
Fund Sponsor Vanguard
Website www.vanguard.com
Inception date Mar 10, 2005
Assets (mns) $10,250
Currency USD
Expense ratio 8 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1332
Wgt avg mkt cap (mns) $22,341,400,000,000
Large cap (>$10bn) 76.9%
Mid cap ($2-10bn) 19.1%
Small cap (<$2bn) 3.8%
Developed mkts 99.4%
Emerging mkts 0.6%

TOP TEN HOLDINGS
NESTLE SA-REG 3.8 %
ROCHE HOLDING AG-GENUSSCHEIN 2.9 %
NOVARTIS AG-REG 2.2 %
ASTRAZENECA PLC 1.5 %
HSBC HOLDINGS PLC 1.5 %
ASML HOLDING NV 1.4 %
NOVO NORDISK A/S-B 1.3 %
SANOFI-AVENTIS 1.2 %
TOTAL SA 1.2 %
LVMH MOET HENNESSY LOUIS VUI 1.2 %
Total 18.2 %

TOP COUNTRY EXPOSURE
BRITAIN 23.6 %
SWITZERLAND 16.5 %
FRANCE 13.7 %
GERMANY 11.5 %
NETHERLANDS 6.4 %
SWEDEN 4.8 %
SPAIN 4.0 %
ITALY 3.5 %
DENMARK 3.5 %
FINLAND 2.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-25.7% -16.4% -1.2% 2.6% 2.9%

Market Correlations
versus... Beta R-squared
S&P500 0.95 77%
MSCI EAFE 1.09 97%
MSCI Emg. Mkts. 0.83 83%

Technical Indicators
Recent close $43.28
30d moving avg. $47.86
Annualized volatility 16.5%
Short interest (ETF) 2.3%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 10,260
Turnover 4.3%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $38,231

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: VGK Expense: 8 bp ALTAR Score™: 9.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VGK
Ticker Fund
Name
Overlap1
vs VGK
(%)
Expense
ratio
(bp)
Savings
vs VGK
(bp)
ALTAR
Score™
(%)
ALTAR
vs VGK
(%)
IEUR iShares Core MSCI Europe ETF 90.2 9 -1 8.9 -0.2
FEU SPDR Portfolio Europe ETF 89.0 9 -1 8.9 -0.2
FLEE Franklin FTSE Europe ETF 87.8 9 -1 8.5 -0.5
FLEH Franklin FTSE Europe Hedged ETF 87.8 9 -1 8.6 -0.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 87.7 30 -22 8.3 -0.8
BBEU JPMorgan BetaBuilders Europe ETF 85.4 9 -1 8.8 -0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 83.2 45 -37 8.1 -1.0
IEV iShares Europe ETF 81.1 59 -51 8.4 -0.7
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 68.3 25 -17 8.1 -0.9
IQSI IQ Candriam ESG International Equity ETF 58.6 15 -7 8.9 -0.2
EFA iShares MSCI EAFE ETF 58.4 32 -24 8.8 -0.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 58.4 20 -12 8.8 -0.3
IEFA iShares Core MSCI EAFE ETF 56.6 7 1 9.0 -0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 56.4 35 -27 8.5 -0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 55.6 20 -12 9.2 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 55.1 7 1 9.3 +0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 52.4 20 -12 8.8 -0.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 52.2 35 -27 10.6 +1.5
DWM WisdomTree International Equity Fund 52.2 48 -40 10.3 +1.3
IDEV iShares Core MSCI International Developed Markets ETF 52.0 5 3 9.0 -0.1
DOL WisdomTree International LargeCap Dividend Fund 51.8 48 -40 10.5 +1.4
SCHF Schwab International Equity ETF 50.9 6 2 9.1 -0.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 50.2 45 -37 11.1 +2.0
QEFA SPDR MSCI EAFE Quality Mix ETF 49.6 30 -22 8.0 -1.1
VEA Vanguard FTSE Developed Markets ETF 49.2 5 3 9.2 +0.2
JHMD John Hancock Multifactor Developed International ETF 48.7 45 -37 9.1 +0.1
SPDW SPDR Portfolio Developed World ex-US ETF 47.7 4 4 8.9 -0.2
FNDF Schwab Fundamental International Large Co. Index ETF 45.9 25 -17 10.8 +1.8
EFG iShares MSCI EAFE Growth ETF 44.9 40 -32 5.8 -3.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 44.5 25 -17 8.3 -0.7
SCID Global X Scientific Beta Europe ETF 44.4 38 -30 8.6 -0.5
IDY Pacific Global International Equity Income ETF 44.1 39 -31 10.7 +1.6
JPEU JPMorgan Diversified Return Europe Equity ETF 44.0 37 -29 8.5 -0.6
PDEV Principal International Multi-Factor Core Index ETF 43.9 25 -17 8.2 -0.8
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 43.9 45 -37 8.6 -0.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 43.5 39 -31 8.0 -1.0
VYMI Vanguard International High Dividend Yield ETF 42.8 32 -24 12.0 +3.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 42.3 14 -6 8.4 -0.7
EFV iShares MSCI EAFE Value ETF 41.7 39 -31 12.1 +3.1
OEUR O'shares FTSE Europe Quality Dividend ETF 41.4 48 -40 7.6 -1.5
RFEU First Trust Riverfront Dynamic Europe ETF 41.3 83 -75 6.2 -2.9
IMTM iShares Edge MSCI Intl Momentum Factor ETF 41.3 30 -22 5.7 -3.4
EURZ Xtrackers Eurozone Equity ETF 40.5 9 -1 8.9 -0.2
EZU iShares MSCI Eurozone ETF 39.9 49 -41 8.6 -0.4
ISDX Invesco Strategic Developed ex-US ETF 39.8 23 -15 9.7 +0.6
CWI SPDR MSCI ACWI ex-US ETF 39.2 30 -22 9.1 +0.0
ACWX iShares MSCI ACWI ex U.S. ETF 39.0 32 -24 9.1 +0.1
IQIN IQ 500 International ETF 38.9 25 -17 10.8 +1.8
VEU Vanguard FTSE All-World ex-US Index Fund 38.9 8 0 9.4 +0.3
IQLT iShares Edge MSCI Intl Quality Factor ETF 38.9 30 -22 7.4 -1.7
EUMV iShares Edge MSCI Min Vol Europe ETF 38.8 25 -17 6.3 -2.8
IXUS ishares Core MSCI Total International Stock ETF 38.3 9 -1 9.3 +0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 38.3 39 -31 11.4 +2.3
VXUS Vanguard Total International Stock Index Fund 38.0 8 0 9.5 +0.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 37.6 40 -32 9.0 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 37.4 16 -8 8.5 -0.5
RNDM Developed International Equity Select ETF 37.3 65 -57 8.0 -1.1
DTH WisdomTree DEFA Equity Income Fund 35.6 58 -50 12.1 +3.0
VSGX Vanguard ESG International Stock ETF 35.1 17 -9 8.9 -0.2
CIZ Victory CEMP Developed Enhanced Volatility Weighted Index ET 34.9 45 -37 9.0 -0.1
RFDI First Trust Riverfront Dynamic Developed International ETF 34.8 83 -75 7.8 -1.3
CIL Victory CEMP International Volatility Weighted Index ETF 34.8 45 -37 8.9 -0.2
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 34.7 48 -40 0.0 -9.1
ISZE iShares Edge MSCI Intl Size Factor ETF 31.5 30 -22 8.8 -0.2
AVDE Avantis International Equity ETF 30.8 23 -15 10.0 +0.9
IGRO iShares International Dividend Growth ETF 30.0 22 -14 9.5 +0.5
RBIN Nationwide Risk-Based International Equity ETF 29.4 42 -34 8.2 -0.8
EUDG WisdomTree Europe Quality Dividend Growth Fund 29.0 58 -50 7.6 -1.5
IDMO Invesco S&P International Developed Momentum ETF 29.0 25 -17 5.6 -3.5
QINT American Century Quality Diversified International ETF 28.0 39 -31 7.4 -1.7
FDEV Fidelity Targeted International Factor ETF 27.5 39 -31 7.6 -1.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 27.2 24 -16 8.9 -0.1
PQIN PGIM QMA Strategic Alpha International Equity ETF 26.8 29 -21 9.1 +0.1
EFAV iShares Edge MSCI Min Vol EAFE ETF 26.5 20 -12 6.6 -2.5
IDHQ Invesco S&P International Developed High Quality ETF 25.9 29 -21 6.5 -2.6
FIVA Fidelity International Value Factor ETF 25.8 39 -31 12.8 +3.7
VIGI Vanguard International Dividend Appreciation ETF 25.5 25 -17 6.9 -2.1
TPIF Timothy Plan International ETF 25.0 62 -54 8.6 -0.5
IOO iShares Global 100 ETF 24.8 40 -32 6.0 -3.0
NUDM Nuveen ESG International Developed Markets Equity ETF 24.1 40 -32 8.3 -0.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 24.0 42 -34 7.0 -2.1
IVLU iShares Edge MSCI Intl Value Factor ETF 24.0 30 -22 13.7 +4.6
FEZ SPDR EURO STOXX 50 ETF 23.1 29 -21 8.9 -0.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 23.0 32 -24 7.5 -1.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 22.6 29 -21 10.4 +1.3
DOO WisdomTree International Dividend ex-Financials Fund 22.6 58 -50 10.7 +1.7
FLGB Franklin FTSE United Kingdom ETF 22.6 9 -1 8.9 -0.2
JPIN JPMorgan Diversified Return International Equity ETF 22.4 38 -30 9.6 +0.5
DDEZ WisdomTree Europe Multifactor Fund 21.9 43 -35 8.4 -0.7
QGBR SPDR MSCI UK StrategicFactors ETF 21.3 14 -6 8.9 -0.1
EWU iShares MSCI United Kingdom ETF 21.3 50 -42 8.3 -0.8
TOK iShares MSCI Kokusai ETF 21.2 25 -17 7.2 -1.9
HEDJ WisdomTree Europe Hedged Equity Fund 21.0 58 -50 9.6 +0.6
IDLB Invesco FTSE International Low Beta Equal Weight ETF 20.9 45 -37 8.5 -0.6
FEP First Trust Europe AlphaDEX Fund 19.9 80 -72 10.6 +1.5
UIVM VictoryShares USAA MSCI International Value Momentum ETF 19.9 35 -27 10.4 +1.3
URTH iShares MSCI World ETF 19.3 24 -16 7.3 -1.8
QWLD SPDR MSCI World StrategicFactors ETF 19.0 30 -22 7.3 -1.7
DEW WisdomTree Global High Dividend Fund 18.8 58 -50 11.2 +2.2

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 FTSE Europe 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 11.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 8 bp
Equals: ALTAR Score 9.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.58
 
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.