Vanguard International Dividend Appreciation ETF
ALTAR
Score™		 5.2% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 28.4x P/Sales
ratio		 2.5x
P/BV
ratio		 3.3x Div.
yield		 1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Vanguard International Dividend Appreciation ETF tracks a market-cap-weighted index of developed and emerging market firms (ex-US) that have increased their annual dividends for 7 or more consecutive years.

FUND BASICS
Category International Equities
Fund Sponsor Vanguard
Website institutional.vanguard.com
Inception date Feb 26, 2016
Assets (mns) $2,785
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 424
Wgt avg mkt cap (mns) $130,435
Large cap (>$10bn) 85.0%
Mid cap ($2-10bn) 13.5%
Small cap (<$2bn) 1.5%
Developed mkts 74.4%
Emerging mkts 25.6%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 5.5 %
LVMH MOET HENNESSY LOUIS VUI 4.5 %
NESTLE SA-REG 4.0 %
ROCHE HOLDING AG-GENUSSCHEIN 3.6 %
NOVARTIS AG-REG 3.4 %
ASML HOLDING NV 2.8 %
RELIANCE INDUSTRIES LTD 2.5 %
L'OREAL 2.3 %
AIA GROUP LTD 2.1 %
TATA CONSULTANCY SVS LTD 2.0 %
Total 32.7 %

TOP COUNTRY EXPOSURE
SWITZERLAND 14.4 %
JAPAN 13.2 %
FRANCE 12.0 %
INDIA 11.9 %
CHINA 8.0 %
BRITAIN 7.7 %
CANADA 5.9 %
NETHERLANDS 5.4 %
HONG KONG 5.1 %
GERMANY 2.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.6% 3.8% -- -- 7.7%

Market Correlations
versus... Beta R-squared
S&P500 0.75 82%
MSCI EAFE 0.87 92%
MSCI Emg. Mkts. 0.65 79%

Technical Indicators
Recent close $78.23
30d moving avg. $74.70
Annualized volatility 14.7%
Short interest (ETF) 0.1%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 143
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $11,766

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Vanguard International Dividend Appreciation ETF ETF based on the alternatives' overlap in portfolio holdings with VIGI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VIGI Expense: 20 bp ALTAR Score™: 5.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VIGI
Ticker Fund
Name		 Overlap1
vs VIGI
(%)		 Expense
ratio
(bp)		 Savings
vs VIGI
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs VIGI
(%)
EFG iShares MSCI EAFE Growth ETF 37.7 40 -20 4.3 -0.9
IQLT iShares Edge MSCI Intl Quality Factor ETF 34.8 30 -10 5.6 +0.4
IGRO iShares International Dividend Growth ETF 34.1 22 -2 7.8 +2.6
IDHQ Invesco S&P International Developed Quality ETF 32.8 29 -9 4.8 -0.4
JIG JPMorgan International Growth ETF 29.5 55 -35 2.9 -2.3
IEV iShares Europe ETF 27.7 59 -39 6.4 +1.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 27.4 45 -25 6.3 +1.1
BBEU JPMorgan BetaBuilders Europe ETF 27.3 9 11 6.8 +1.7
FLEH Franklin FTSE Europe Hedged ETF 27.0 9 11 6.7 +1.5
RFEU First Trust Riverfront Dynamic Europe ETF 27.0 83 -63 5.6 +0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 26.9 30 -10 6.3 +1.1
FLEE Franklin FTSE Europe ETF 26.8 9 11 6.6 +1.4
IEUR iShares Core MSCI Europe ETF 26.0 9 11 6.8 +1.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 25.6 25 -5 6.1 +0.9
VGK Vanguard FTSE Europe ETF 25.0 8 12 6.9 +1.7
FEU SPDR Portfolio Europe ETF 25.0 9 11 6.9 +1.7
IMTM iShares Edge MSCI Intl Momentum Factor ETF 24.7 30 -10 4.3 -0.9
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 24.5 20 0 6.6 +1.4
DMXF iShares ESG Advanced MSCI EAFE ETF 24.1 12 8 6.4 +1.2
BKIE BNY Mellon International Equity ETF 23.7 4 16 6.8 +1.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 23.6 58 -38 6.0 +0.8
EUDG WisdomTree Europe Quality Dividend Growth Fund 23.5 58 -38 5.7 +0.5
VSGX Vanguard ESG International Stock ETF 23.3 17 3 6.7 +1.5
IQDG WisdomTree International Quality Dividend Growth Fund 23.3 42 -22 6.1 +0.9
IQSI IQ Candriam ESG International Equity ETF 23.0 15 5 6.9 +1.7
EFA iShares MSCI EAFE ETF 23.0 32 -12 6.5 +1.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 22.9 35 -15 6.4 +1.3
ESGD iShares MSCI EAFE ESG Optimized ETF 22.7 20 0 6.4 +1.2
GSID Goldman Sachs MarketBeta International Equity ETF 22.5 20 0 6.8 +1.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 22.4 16 4 6.4 +1.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 22.3 25 -5 6.3 +1.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 22.1 14 6 6.4 +1.2
PDEV Principal International Multi-Factor Core Index ETF 22.0 25 -5 7.3 +2.1
RESD WisdomTree International ESG Fund 21.8 30 -10 6.4 +1.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 21.7 58 -38 5.5 +0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 21.7 20 0 6.9 +1.7
IDEV iShares Core MSCI International Developed Markets ETF 21.4 5 15 6.7 +1.5
IEFA iShares Core MSCI EAFE ETF 21.3 7 13 6.7 +1.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 21.0 7 13 6.9 +1.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 20.9 61 -41 8.1 +2.9
SCHF Schwab International Equity ETF 20.9 6 14 6.8 +1.6
CIL VictoryShares International Volatility Weighted Index ETF 20.6 45 -25 6.5 +1.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 20.5 35 -15 6.3 +1.1
OEUR O'shares FTSE Europe Quality Dividend ETF 20.5 48 -28 6.6 +1.4
JHMD John Hancock Multifactor Developed International ETF 20.4 39 -19 6.8 +1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 20.4 40 -20 6.6 +1.4
DOL WisdomTree International LargeCap Dividend Fund 20.0 48 -28 8.4 +3.2
SPDW SPDR Portfolio Developed World ex-US ETF 19.7 4 16 6.6 +1.4
CWI SPDR MSCI ACWI ex-US ETF 19.7 30 -10 6.7 +1.5
ACWX iShares MSCI ACWI ex U.S. ETF 19.6 32 -12 6.8 +1.6
VEA Vanguard FTSE Developed Markets ETF 19.3 5 15 6.9 +1.7
EURZ Xtrackers Eurozone Equity ETF 19.3 9 11 6.5 +1.3
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 19.3 45 -25 6.5 +1.3
VEU Vanguard FTSE All-World ex-US Index Fund 19.2 8 12 7.0 +1.9
IXUS ishares Core MSCI Total International Stock ETF 19.0 9 11 6.9 +1.7
RFDI First Trust Riverfront Dynamic Developed International ETF 18.9 83 -63 5.2 +0.0
EZU iShares MSCI Eurozone ETF 18.6 49 -29 6.1 +0.9
TPIF Timothy Plan International ETF 18.6 62 -42 6.1 +0.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 18.3 45 -25 6.2 +1.0
IDMO Invesco S&P International Developed Momentum ETF 18.0 26 -6 3.9 -1.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 17.8 20 0 5.1 -0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 17.6 35 -15 8.3 +3.1
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 17.6 61 -41 4.9 -0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 17.5 39 -19 6.1 +0.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 17.4 32 -12 5.7 +0.5
DWM WisdomTree International Equity Fund 17.3 48 -28 8.0 +2.8
NUDM Nuveen ESG International Developed Markets Equity ETF 17.2 40 -20 6.2 +1.0
RBIN Nationwide Risk-Based International Equity ETF 17.1 42 -22 6.1 +0.9
FDEV Fidelity Targeted International Factor ETF 16.3 39 -19 6.2 +1.0
VXUS Vanguard Total International Stock Index Fund 16.0 8 12 7.1 +1.9
RNDM Developed International Equity Select ETF 15.7 65 -45 5.8 +0.6
LDEM iShares ESG MSCI EM Leaders ETF 15.3 16 4 7.4 +2.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 15.3 68 -48 6.7 +1.5
EUDV ProShares MSCI Europe Dividend Growers ETF 15.3 58 -38 5.5 +0.3
FLAX Franklin FTSE Asia Ex Japan ETF 15.2 19 1 7.3 +2.1
ISZE iShares Edge MSCI Intl Size Factor ETF 14.9 30 -10 6.6 +1.4
QINT American Century Quality Diversified International ETF 14.9 39 -19 6.0 +0.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 14.8 20 0 6.4 +1.2
SCHE Schwab Emerging Markets Equity ETF 14.8 11 9 7.5 +2.3
AVDE Avantis International Equity ETF 14.8 23 -3 7.1 +1.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 14.8 24 -4 6.7 +1.5
FEZ SPDR EURO STOXX 50 ETF 14.7 29 -9 6.3 +1.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 14.5 51 -31 5.9 +0.7
FIVA Fidelity International Value Factor ETF 14.4 39 -19 9.2 +4.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 14.2 32 -12 5.7 +0.5
FLSW Franklin FTSE Switzerland ETF 14.2 9 11 5.4 +0.2
EWL iShares MSCI Switzerland ETF 14.2 50 -30 4.9 -0.3
HEDJ WisdomTree Europe Hedged Equity Fund 14.2 58 -38 6.7 +1.5
PIZ Invesco DWA Developed Markets Momentum ETF 14.2 81 -61 4.3 -0.9
ISDX Invesco Strategic Developed ex-US ETF 14.1 23 -3 6.7 +1.5
IPAC iShares Core MSCI Pacific ETF 14.1 9 11 6.6 +1.4
SPEM SPDR Portfolio Emerging Markets ETF 14.1 11 9 7.3 +2.1
BKF iShares MSCI BRIC ETF 14.1 69 -49 7.2 +2.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 14.0 32 -12 8.1 +2.9
VWO Vanguard FTSE Emerging Markets ETF 14.0 10 10 7.6 +2.4
JHEM John Hancock Multifactor Emerging Markets ETF 13.7 49 -29 8.3 +3.1
EEM iShares MSCI Emerging Markets ETF 13.7 68 -48 7.0 +1.8
EEMA iShares MSCI Emerging Markets Asia ETF 13.7 50 -30 7.4 +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 International Dividend Appreciation ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.3 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.50 CATEGORY
AVERAGE		 1.55
 
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.