Vanguard Dividend Appreciation Index Fund
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.0x P/Sales
ratio
1.6x
P/BV
ratio
3.7x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Vanguard Dividend Appreciation ETF seeks investment results that correspond to the price and yield performance of the Dividend Achievers Select Index. The index consists large cap stocks that have a record of consistently growing dividends.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard
Website www.vanguard.com
Inception date Apr 27, 2006
Assets (mns) $36,977
Currency USD
Expense ratio 6 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian JPMorgan Chase Bank
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 185
Wgt avg mkt cap (mns) $175,845
Large cap (>$10bn) 92.4%
Mid cap ($2-10bn) 6.7%
Small cap (<$2bn) 0.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 5.7 %
PROCTER & GAMBLE CO/THE 4.8 %
WAL-MART STORES INC 4.8 %
VISA INC-CLASS A SHARES 4.6 %
JOHNSON & JOHNSON 3.9 %
COMCAST CORP-CL A 3.3 %
ABBOTT LABORATORIES 2.8 %
MCDONALD'S CORP 2.7 %
COSTCO WHOLESALE CORP 2.7 %
MEDTRONIC PLC 2.6 %
Total 37.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.3 %
IRELAND 4.9 %
SWITZERLAND 1.1 %
BERMUDA 0.2 %







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.
-7.8% 7.4% 9.0% 11.7% 8.4%

Market Correlations
versus... Beta R-squared
S&P500 0.91 93%
MSCI EAFE 0.82 66%
MSCI Emg. Mkts. 0.56 44%

Technical Indicators
Recent close $105.31
30d moving avg. $112.29
Annualized volatility 12.5%
Short interest (ETF) 0.4%
Short interest (Underlying) 2.3%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 1,466
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $62,117

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Vanguard Dividend Appreciation Index Fund ETF based on the alternatives' overlap in portfolio holdings with VIG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VIG Expense: 6 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VIG
Ticker Fund
Name
Overlap1
vs VIG
(%)
Expense
ratio
(bp)
Savings
vs VIG
(bp)
ALTAR
Score™
(%)
ALTAR
vs VIG
(%)
PFM Invesco Dividend Achievers ETF 69.1 54 -48 6.2 +0.1
SPMO Invesco S&P 500 Momentum ETF 37.9 13 -7 5.0 -1.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 36.5 28 -22 8.0 +1.9
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 36.0 29 -23 5.4 -0.7
NOBL ProShares S&P 500 Dividend Aristocrats ETF 35.9 35 -29 7.1 +1.0
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 35.9 75 -69 6.7 +0.6
VSDA VictoryShares Dividend Accelerator ETF 35.5 35 -29 5.6 -0.5
MTUM iShares Edge MSCI USA Momentum Factor ETF 34.6 15 -9 5.3 -0.8
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 33.5 12 -6 6.1 -0.0
DGRO iShares Core Dividend Growth ETF 33.4 8 -2 8.1 +2.0
FDLO Fidelity Low Volatility Factor ETF 32.5 29 -23 6.2 +0.1
DSTL Distillate US Fundamental Stability & Value ETF 32.0 39 -33 7.3 +1.3
DIA SPDR Dow Jones Industrial Average ETF Trust 31.1 16 -10 7.0 +0.9
FLQL Franklin LibertyQ U.S. Equity ETF 30.8 15 -9 7.7 +1.6
QUS SPDR MSCI USA StrategicFactors ETF 30.6 15 -9 7.0 +0.9
EDOW First Trust Dow 30 Equal Weight ETF 30.5 50 -44 7.0 +0.9
SDY SPDR S&P Dividend ETF 30.4 35 -29 7.7 +1.6
FLLV Franklin Liberty U.S. Low Volatility ETF 30.3 29 -23 6.8 +0.7
KLCD KFA Large Cap Quality Dividend Index ETF 30.1 41 -35 6.3 +0.2
WOMN Impact Shares YWCA Women's Empowerment ETF 29.4 75 -69 6.0 -0.1
SUSL iShares ESG MSCI USA Leaders ETF 29.3 10 -4 6.7 +0.6
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 29.2 10 -4 6.7 +0.6
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 29.1 49 -43 5.9 -0.2
ACIO Aptus Collared Income Opportunity ETF 28.9 79 -73 6.3 +0.2
SPHQ Invesco S&P 500 Quality ETF 28.8 15 -9 6.2 +0.1
JKD iShares Morningstar Large-Cap ETF 28.6 20 -14 7.1 +1.0
YLDE ClearBridge Dividend Strategy ESG ETF 28.3 60 -54 5.9 -0.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 28.1 30 -24 7.6 +1.5
HSPX Global X S&P 500 Covered Call ETF 28.0 65 -59 6.1 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 27.9 27 -21 6.4 +0.3
PWB Invesco Dynamic Large Cap Growth ETF 27.9 55 -49 4.3 -1.8
FTCS First Trust Capital Strength ETF 27.8 60 -54 5.9 -0.2
USMV iShares Edge MSCI Min Vol USA ETF 27.6 15 -9 6.5 +0.4
LVUS Hartford Multifactor Low Volatility US Equity ETF 27.4 19 -13 7.3 +1.2
FQAL Fidelity Quality Factor ETF 27.4 29 -23 6.8 +0.7
VYM Vanguard High Dividend Yield Index ETF 27.4 6 0 8.6 +2.5
SPMV Invesco S&P 500 Minimum Variance ETF 27.4 10 -4 7.0 +0.9
SCHV Schwab U.S. Large-Cap Value ETF 27.3 4 2 8.6 +2.5
PBP Invesco S&P 500 BuyWrite ETF 27.3 49 -43 6.5 +0.4
TMDV ProShares Russell US Dividend Growers ETF 27.3 35 -29 6.3 +0.2
IQSU IQ Candriam ESG US Equity ETF 27.2 9 -3 6.4 +0.3
RECS Columbia Research Enhanced Core ETF 27.1 15 -9 7.2 +1.1
JQUA JPMorgan U.S. Quality Factor ETF 27.0 12 -6 6.4 +0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 26.6 20 -14 6.4 +0.3
IWL iShares Russell Top 200 ETF 26.5 15 -9 6.4 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 26.3 15 -9 6.4 +0.3
MGC Vanguard Mega Cap Index Fund 26.3 7 -1 6.6 +0.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 26.1 20 -14 6.8 +0.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 26.1 29 -23 7.8 +1.7
SPXE ProShares S&P 500 Ex-Energy ETF 26.1 27 -21 6.7 +0.6
MMTM SPDR S&P 1500 Momentum Tilt ETF 26.1 12 -6 6.4 +0.4
QUAL iShares MSCI Usa Quality Factor ETF 26.1 15 -9 6.6 +0.5
CCOR Core Alternative ETF 26.1 123 -117 5.3 -0.8
DSI iShares MSCI KLD 400 Social ETF 26.1 25 -19 6.5 +0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 26.1 9 -3 7.0 +0.9
OUSA O'Shares FTSE US Quality Dividend ETF 26.0 48 -42 6.8 +0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 26.0 28 -22 7.7 +1.6
SNPE Xtrackers S&P 500 ESG ETF 26.0 11 -5 6.6 +0.5
EQWL Invesco Russell Top 200 Equal Weight ETF 25.9 25 -19 7.3 +1.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 25.9 15 -9 6.7 +0.6
IYJ iShares U.S. Industrials ETF 25.8 42 -36 7.4 +1.3
LGLV SPDR Russell 1000 Low Volatility ETF 25.8 12 -6 6.6 +0.5
OEF iShares S&P 100 ETF 25.8 20 -14 6.1 +0.0
SPLV Invesco S&P 500 Low Volatility ETF 25.7 25 -19 6.2 +0.1
IVV iShares Core S&P 500 ETF 25.5 4 2 6.8 +0.7
SPY SPDR S&P 500 ETF Trust 25.5 9 -3 6.8 +0.7
VOO VANGUARD S&P 500 ETF 25.5 3 3 6.8 +0.7
SPLG SPDR Portfolio Large Cap ETF 25.4 3 3 6.9 +0.8
ESG FlexShares STOXX US ESG Impact Index Fund 25.3 32 -26 6.5 +0.4
DEF Invesco Defensive Equity ETF 25.3 55 -49 6.1 -0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 25.2 27 -21 6.5 +0.4
IWX iShares Russell Top 200 Value ETF 25.1 20 -14 8.4 +2.3
MGK Vanguard Mega Cap Growth ETF 25.1 7 -1 5.4 -0.7
JMIN JPMorgan U.S. Minimum Volatility ETF 25.0 12 -6 6.8 +0.7
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 25.0 49 -43 5.2 -0.9
VV Vanguard Large-Cap Index Fund 24.9 4 2 6.7 +0.6
IEDI iShares Evolved U.S. Discretionary Spending ETF 24.8 18 -12 5.5 -0.6
SPTM SPDR Portfolio Total Stock Market ETF 24.5 3 3 7.0 +0.9
IUSG iShares Core S&P US Growth ETF 24.5 4 2 5.7 -0.4
DTD WisdomTree U.S.Total Dividend Fund 24.4 28 -22 8.2 +2.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 24.4 75 -69 4.7 -1.4
PBUS Invesco PureBeta MSCI USA ETF 24.4 4 2 6.8 +0.7
NACP Impact Shares NAACP Minority Empowerment ETF 24.3 75 -69 6.0 -0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 24.3 2 4 6.8 +0.7
SCHX Schwab U.S. Large-Cap ETF 24.3 3 3 6.7 +0.6
VOOG Vanguard S&P 500 Growth ETF 24.1 10 -4 5.5 -0.6
JHMI John Hancock Multifactor Industrials ETF 24.1 40 -34 8.1 +2.0
VONE Vanguard Russell 1000 ETF 24.1 8 -2 6.7 +0.7
IVW iShares S&P 500 Growth ETF 24.1 18 -12 5.4 -0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 24.1 4 2 5.5 -0.6
IWB iShares Russell 1000 ETF 24.0 15 -9 6.7 +0.6
ADME Aptus Drawdown Managed Equity ETF 23.9 81 -75 5.3 -0.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 23.9 19 -13 7.3 +1.2
RWL Invesco S&P 500 Revenue ETF 23.9 39 -33 8.8 +2.7
SCHK Schwab 1000 Index ETF 23.7 5 1 6.7 +0.7
IYY iShares Dow Jones U.S. ETF 23.7 20 -14 6.6 +0.6
JPUS JPMorgan Diversified Return U.S. Equity ETF 23.6 19 -13 7.9 +1.8
KRMA Global X Conscious Companies ETF 23.6 43 -37 7.0 +0.9
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 23.5 35 -29 7.6 +1.5
NULC Nuveen ESG Large-Cap ETF 23.4 20 -14 6.6 +0.5

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 Dividend Appreciation Index Fund
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 21.9 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 6 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.