Vanguard Dividend Appreciation Index Fund
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
23.8x P/Sales
ratio
2.0x
P/BV
ratio
4.4x Div.
yield
1.9%


  • 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 21, 2006
Assets (mns) $43,108
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 228
Wgt avg mkt cap (mns) $214,440
Large cap (>$10bn) 94.8%
Mid cap ($2-10bn) 4.8%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 4.9 %
WAL-MART STORES INC 4.5 %
JOHNSON & JOHNSON 3.9 %
PROCTER & GAMBLE CO/THE 3.9 %
VISA INC-CLASS A SHARES 3.8 %
UNITEDHEALTH GROUP INC 3.6 %
HOME DEPOT INC 3.5 %
WALT DISNEY CO/THE 2.8 %
PEPSICO INC 2.4 %
ORACLE CORP 2.4 %
Total 35.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.9 %
IRELAND 3.5 %
SWITZERLAND 0.8 %
BERMUDA 0.1 %







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.
-5.1% 3.7% 10.6% 12.6% 8.4%

Market Correlations
versus... Beta R-squared
S&P500 0.85 94%
MSCI EAFE 0.82 75%
MSCI Emg. Mkts. 0.57 57%

Technical Indicators
Recent close $119.20
30d moving avg. $118.19
Annualized volatility 14.9%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.3%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 1,359
Turnover 0.4%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $73,482

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™: 5.4%


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 76.1 54 -48 5.5 +0.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 46.2 28 -22 6.5 +1.1
DGRO iShares Core Dividend Growth ETF 43.8 8 -2 6.7 +1.3
JKD iShares Morningstar Large-Cap ETF 38.5 20 -14 5.6 +0.3
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 36.9 12 -6 4.7 -0.7
SPHQ Invesco S&P 500 Quality ETF 36.0 15 -9 4.6 -0.8
ACIO Aptus Collared Income Opportunity ETF 36.0 79 -73 4.4 -1.0
FDLO Fidelity Low Volatility Factor ETF 35.8 29 -23 5.1 -0.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 35.0 10 -4 5.2 -0.2
FLLV Franklin Liberty U.S. Low Volatility ETF 35.0 29 -23 5.8 +0.4
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 34.9 49 -43 4.8 -0.6
OUSA O'Shares FTSE US Quality Dividend ETF 34.9 48 -42 5.7 +0.3
QUS SPDR MSCI USA StrategicFactors ETF 34.9 15 -9 5.8 +0.4
SUSL iShares ESG MSCI USA Leaders ETF 34.9 10 -4 5.3 -0.1
DIA SPDR Dow Jones Industrial Average ETF Trust 34.8 16 -10 5.6 +0.2
VSDA VictoryShares Dividend Accelerator ETF 34.8 35 -29 4.9 -0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 34.7 28 -22 6.4 +1.0
VYM Vanguard High Dividend Yield Index ETF 34.7 6 0 7.4 +2.0
FLQL Franklin LibertyQ U.S. Equity ETF 34.5 15 -9 6.3 +0.9
SCHV Schwab U.S. Large-Cap Value ETF 33.8 4 2 7.2 +1.9
WOMN Impact Shares YWCA Women's Empowerment ETF 33.5 75 -69 4.4 -1.0
JQUA JPMorgan U.S. Quality Factor ETF 33.5 12 -6 5.2 -0.2
RAFE PIMCO RAFI ESG U.S. ETF 33.3 29 -23 7.8 +2.4
KLCD KFA Large Cap Quality Dividend Index ETF 33.2 41 -35 5.4 -0.0
IWX iShares Russell Top 200 Value ETF 33.2 20 -14 7.2 +1.8
EDOW First Trust Dow 30 Equal Weight ETF 33.1 50 -44 6.0 +0.6
MGV Vanguard Mega Cap Value ETF 33.0 7 -1 7.3 +1.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 33.0 29 -23 6.2 +0.8
DTD WisdomTree U.S.Total Dividend Fund 32.7 28 -22 6.7 +1.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 32.4 19 -13 5.6 +0.2
DSI iShares MSCI KLD 400 Social ETF 32.0 25 -19 5.1 -0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 31.8 20 -14 4.9 -0.5
USDY Pacific Global US Equity Income ETF 31.8 29 -23 7.3 +1.9
QDEF FlexShares Quality Dividend Defensive Index Fund 31.6 37 -31 5.9 +0.5
SPXN ProShares S&P 500 Ex-Financials ETF 31.6 27 -21 4.9 -0.5
FQAL Fidelity Quality Factor ETF 31.6 29 -23 5.4 +0.0
SPMO Invesco S&P 500 Momentum ETF 31.5 13 -7 4.3 -1.1
YLDE ClearBridge Dividend Strategy ESG ETF 31.5 60 -54 5.0 -0.4
LVUS Hartford Multifactor Low Volatility US Equity ETF 31.4 19 -13 6.1 +0.7
USMV iShares Edge MSCI Min Vol USA ETF 31.1 15 -9 5.5 +0.1
VTV Vanguard Value Index Fund 31.0 4 2 7.5 +2.1
RECS Columbia Research Enhanced Core ETF 31.0 15 -9 5.6 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 30.8 27 -21 5.3 -0.1
PBP Invesco S&P 500 BuyWrite ETF 30.8 49 -43 5.0 -0.4
IQSU IQ Candriam ESG US Equity ETF 30.8 9 -3 5.0 -0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 30.7 0 6 5.2 -0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 30.6 20 -14 5.3 -0.1
CCOR Core Alternative ETF 30.6 123 -117 4.4 -1.0
MGC Vanguard Mega Cap Index Fund 30.6 7 -1 5.2 -0.2
QUAL iShares MSCI Usa Quality Factor ETF 30.6 15 -9 5.4 -0.0
SNPE Xtrackers S&P 500 ESG ETF 30.5 11 -5 5.0 -0.4
EQWL Invesco Russell Top 200 Equal Weight ETF 30.5 25 -19 6.1 +0.7
OEF iShares S&P 100 ETF 30.5 20 -14 4.7 -0.7
IWL iShares Russell Top 200 ETF 30.4 15 -9 5.0 -0.4
EPS WisdomTree U.S. Earnings 500 Fund 30.4 8 -2 6.5 +1.1
HSPX Global X S&P 500 Covered Call ETF 30.3 65 -59 4.9 -0.5
ESG FlexShares STOXX US ESG Impact Index Fund 30.2 32 -26 5.0 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 30.2 9 -3 5.5 +0.1
SPY SPDR S&P 500 ETF Trust 30.2 9 -3 5.3 -0.1
SPLG SPDR Portfolio Large Cap ETF 30.2 3 3 5.4 -0.0
IVV iShares Core S&P 500 ETF 30.1 4 2 5.4 -0.0
VOO VANGUARD S&P 500 ETF 30.1 3 3 5.4 -0.0
QDF FlexShares Quality Dividend Index Fund 30.0 37 -31 6.1 +0.7
SPMV Invesco S&P 500 Minimum Variance ETF 29.7 10 -4 5.8 +0.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 29.6 49 -43 4.0 -1.4
XLG Invesco S&P 500 Top 50 ETF 29.6 20 -14 4.4 -1.0
ESGU iShares MSCI USA ESG Optimized ETF 29.5 15 -9 5.1 -0.3
SPYV SPDR Portfolio S&P 500 Value ETF 29.5 4 2 7.5 +2.1
SPXT ProShares S&P 500 Ex-Technology ETF 29.4 27 -21 5.6 +0.2
IVE iShares S&P 500 Value ETF 29.4 18 -12 7.3 +2.0
VOOV Vanguard S&P 500 Value ETF 29.3 15 -9 7.4 +2.0
KRMA Global X Conscious Companies ETF 29.3 43 -37 5.1 -0.3
SPTM SPDR Portfolio Total Stock Market ETF 29.3 3 3 5.5 +0.1
NACP Impact Shares NAACP Minority Empowerment ETF 29.2 75 -69 4.5 -0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 29.2 7 -1 5.2 -0.2
DIVB iShares U.S. Dividend & Buyback ETF 29.0 25 -19 6.6 +1.2
VV Vanguard Large-Cap Index Fund 29.0 4 2 5.2 -0.2
JHML John Hancock Multifactor Large Cap ETF 29.0 29 -23 5.5 +0.1
PBUS Invesco PureBeta MSCI USA ETF 29.0 4 2 5.2 -0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 29.0 2 4 5.3 -0.1
QLV FlexShares US Quality Low Volatility Index Fund 28.9 22 -16 4.8 -0.6
SCHX Schwab U.S. Large-Cap ETF 28.8 3 3 5.2 -0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 28.8 27 -21 4.9 -0.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 28.7 12 -6 4.9 -0.5
ADME Aptus Drawdown Managed Equity ETF 28.5 81 -75 3.5 -1.9
IUSV iShares Core S&P U.S. Value ETF 28.4 4 2 7.6 +2.2
VONE Vanguard Russell 1000 ETF 28.4 8 -2 5.2 -0.2
SCHK Schwab 1000 Index ETF 28.3 5 1 5.2 -0.2
IYY iShares Dow Jones U.S. ETF 28.1 20 -14 5.1 -0.3
IWB iShares Russell 1000 ETF 28.1 15 -9 5.1 -0.3
RWL Invesco S&P 500 Revenue ETF 28.0 39 -33 7.3 +1.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 27.9 25 -19 6.6 +1.2
FDRR Fidelity Dividend ETF for Rising Rates 27.9 29 -23 7.0 +1.6
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 27.9 75 -69 5.8 +0.4
IWD iShares Russell 1000 Value ETF 27.7 19 -13 7.2 +1.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 27.6 30 -24 6.5 +1.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 27.6 60 -54 4.3 -1.1
NOBL ProShares S&P 500 Dividend Aristocrats ETF 27.6 35 -29 6.2 +0.8
ECOZ TrueMark ESG Active Opportunities ETF 27.6 58 -52 4.2 -1.2
VOOG Vanguard S&P 500 Growth ETF 27.5 10 -4 4.2 -1.2

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 Dividend Appreciation Index Fund
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 22.3 %
Divided by: Fwd. P/BV 4.1 x
Less: Expense ratio 6 bp
Equals: ALTAR Score 5.4 %
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.