Vanguard Industrials Index Fund
ALTAR
Score™		 6.0% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 32.9x P/Sales
ratio		 1.6x
P/BV
ratio		 3.4x Div.
yield		 1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard Industrials ETF seeks to track the performance of the MSCI US Investable Market Industrials Index.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Sep 23, 2004
Assets (mns) $2,784
Currency USD
Expense ratio 10 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 355
Wgt avg mkt cap (mns) $43,739
Large cap (>$10bn) 77.6%
Mid cap ($2-10bn) 17.3%
Small cap (<$2bn) 5.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
UNION PACIFIC CORP 4.4 %
HONEYWELL INTERNATIONAL INC 3.9 %
BOEING CO 3.7 %
RAYTHEON TECHNOLOGIES CORPORATION 3.5 %
LOCKHEED MARTIN CORP 3.5 %
3M CO 3.4 %
UNITED PARCEL SERVICE-CL B 2.9 %
CATERPILLAR INC 2.6 %
GENERAL ELECTRIC CO 2.2 %
ILLINOIS TOOL WORKS 2.1 %
Total 32.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.9 %
IRELAND 3.5 %
BRITAIN 1.6 %
CANADA 1.0 %
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.
-14.7% -9.2% 6.6% 11.8% 8.1%

Market Correlations
versus... Beta R-squared
S&P500 1.21 89%
MSCI EAFE 1.25 82%
MSCI Emg. Mkts. 0.88 64%

Technical Indicators
Recent close $128.97
30d moving avg. $130.35
Annualized volatility 21.8%
Short interest (ETF) 0.3%
Short interest (Underlying) 3.5%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 211
Turnover 1.0%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $41,392

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: VIS Expense: 10 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VIS
Ticker Fund
Name		 Overlap1
vs VIS
(%)		 Expense
ratio
(bp)		 Savings
vs VIS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs VIS
(%)
FIDU Fidelity MSCI Industrials Index ETF 98.5 8 2 6.0 +0.1
XLI Industrial Select Sector SPDR Fund 77.8 13 -3 5.9 -0.0
IYJ iShares U.S. Industrials ETF 66.0 42 -32 6.0 +0.0
JHMI John Hancock Multifactor Industrials ETF 64.0 40 -30 6.1 +0.2
RGI Invesco S&P 500 Equal Weight Industrials ETF 56.4 40 -30 5.8 -0.2
EXI iShares Global Industrials ETF 50.7 46 -36 6.2 +0.3
BIBL Inspire ETF 26.7 35 -25 4.9 -1.1
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 26.1 63 -53 7.1 +1.2
PPA Invesco Aerospace & Defense ETF 23.2 59 -49 6.1 +0.1
XKFF SPDR Kensho Final Frontiers ETF 22.6 45 -35 6.4 +0.4
MAGA Point Bridge GOP Stock Tracker ETF 20.6 72 -62 6.6 +0.7
ITA iShares U.S. Aerospace & Defense ETF 19.2 42 -32 6.6 +0.6
TPLC Timothy Plan US Large Cap Core ETF 19.0 52 -42 5.6 -0.4
XAR SPDR S&P Aerospace & Defense ETF 18.9 35 -25 5.6 -0.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 18.3 25 -15 6.0 +0.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 18.0 28 -18 6.6 +0.6
XTN SPDR S&P Transportation ETF 17.9 35 -25 5.8 -0.2
PAVE Global X U.S. Infrastructure Development ETF 17.7 47 -37 5.9 -0.0
KLCD KFA Large Cap Quality Dividend Index ETF 17.4 41 -31 5.4 -0.5
IYT iShares Transportation Average ETF 16.5 42 -32 5.4 -0.6
FTXR First Trust Nasdaq Transportation ETF 16.3 60 -50 6.6 +0.6
DSTL Distillate US Fundamental Stability & Value ETF 16.2 39 -29 6.6 +0.7
ONEV SPDR Russell 1000 Low Volatility Focus ETF 15.8 20 -10 7.1 +1.2
PRN Invesco DWA Industrials Momentum ETF 15.7 60 -50 4.9 -1.1
NOBL ProShares S&P 500 Dividend Aristocrats ETF 15.5 35 -25 6.2 +0.3
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 15.5 75 -65 5.9 -0.1
ONEO SPDR Russell 1000 Momentum Focus ETF 15.2 20 -10 6.6 +0.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 15.2 35 -25 6.0 +0.0
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 15.1 17 -7 6.5 +0.5
JHMM John Hancock Multifactor Mid Cap ETF 15.1 42 -32 5.9 -0.1
VIG Vanguard Dividend Appreciation Index Fund 15.0 6 4 5.5 -0.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 14.9 29 -19 6.8 +0.9
SCHM Schwab U.S. Mid-Cap ETF 14.9 4 6 6.3 +0.4
IWP iShares Russell Mid-Cap Growth ETF 14.8 24 -14 4.2 -1.8
VSDA VictoryShares Dividend Accelerator ETF 14.6 35 -25 4.9 -1.0
RSP Invesco S&P 500 Equal Weight ETF 14.6 20 -10 6.8 +0.9
VOT Vanguard Mid-Cap Growth Index Fund 14.3 7 3 3.5 -2.4
VB Vanguard Small-Cap ETF 14.3 5 5 5.4 -0.5
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 14.2 17 -7 6.6 +0.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 14.2 6 4 5.4 -0.5
SCHA Schwab U.S. Small-Cap ETF 14.0 4 6 4.8 -1.2
PFM Invesco Dividend Achievers ETF 13.8 54 -44 5.5 -0.4
IUSS Invesco Strategic US Small Company ETF 13.8 23 -13 5.6 -0.4
USDY Pacific Global US Equity Income ETF 13.7 29 -19 7.3 +1.4
SIZE iShares Edge MSCI USA Size Factor ETF 13.6 15 -5 6.4 +0.4
IWR iShares Russell Midcap ETF 13.5 19 -9 5.7 -0.3
EUSA iShares MSCI USA Equal Weighted ETF 13.5 15 -5 6.4 +0.4
JKG iShares Morningstar Mid-Cap ETF 13.5 25 -15 5.6 -0.4
VO Vanguard Mid-Cap Index Fund 13.4 4 6 5.5 -0.5
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 13.4 30 -20 6.0 +0.0
VETS Pacer Military Times Best Employers ETF 13.2 60 -50 7.0 +1.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 13.2 4 6 5.8 -0.1
FVD First Trust Value Line Dividend Index Fund 13.1 70 -60 6.5 +0.5
TPHD Timothy Plan High Dividend Stock ETF 12.9 52 -42 7.8 +1.8
VFQY Vanguard U.S. Quality Factor ETF 12.9 13 -3 6.1 +0.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 12.9 17 -7 5.2 -0.7
FLQL Franklin LibertyQ U.S. Equity ETF 12.6 15 -5 6.4 +0.4
SDY SPDR S&P Dividend ETF 12.6 35 -25 7.1 +1.1
EQAL Invesco Russell 1000 Equal Weight ETF 12.6 20 -10 5.8 -0.2
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 12.5 9 1 6.0 0.0
JKF iShares Morningstar Large Cap Value ETF 12.4 25 -15 7.7 +1.7
EDOW First Trust Dow 30 Equal Weight ETF 12.3 50 -40 6.1 +0.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 12.3 19 -9 6.1 +0.2
PSET Principal Price Setters Index ETF 12.2 29 -19 4.6 -1.3
IWS iShares Russell Mid-Cap Value ETF 12.2 24 -14 7.3 +1.4
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 12.1 20 -10 7.7 +1.8
FSMD Fidelity Small-Mid Factor ETF 12.1 29 -19 7.1 +1.2
EZM WisdomTree U.S. MidCap Earnings Fund 12.0 38 -28 9.4 +3.4
EQWL Invesco Russell Top 200 Equal Weight ETF 12.0 25 -15 6.2 +0.2
SPLV Invesco S&P 500 Low Volatility ETF 11.9 25 -15 5.8 -0.2
UFO Procure Space ETF 11.8 171 -161 0.7 -5.2
VXF Vanguard Extended Market Index Fund 11.8 7 3 3.8 -2.1
VBR Vanguard Small Cap Value Index Fund 11.8 7 3 8.5 +2.6
PKW Invesco Buyback Achievers ETF 11.8 62 -52 6.9 +1.0
TUSA First Trust Total US Market AlphaDEX ETF 11.7 70 -60 6.1 +0.1
RVRS Reverse Cap Weighted U.S. Large Cap ETF 11.6 29 -19 8.3 +2.4
VFLQ Vanguard U.S. Liquidity Factor ETF 11.6 14 -4 4.8 -1.2
BFOR Barron's 400 ETF 11.5 65 -55 6.4 +0.5
IUS Invesco Strategic US ETF 11.4 19 -9 6.7 +0.8
AVUS Avantis U.S. Equity ETF 11.4 15 -5 5.8 -0.1
DURA VanEck Vectors Morningstar Durable Dividend ETF 11.4 29 -19 7.3 +1.3
FITE SPDR Kensho Future Security ETF 11.3 45 -35 4.1 -1.9
JKH iShares Morningstar Mid-Cap Growth ETF 11.3 30 -20 2.3 -3.7
DIA SPDR Dow Jones Industrial Average ETF Trust 11.3 16 -6 5.7 -0.3
SCHV Schwab U.S. Large-Cap Value ETF 11.3 4 6 7.3 +1.3
FNDB Schwab Fundamental U.S. Broad Market Index ETF 11.2 25 -15 6.7 +0.7
CCOR Core Alternative ETF 11.1 123 -113 4.4 -1.6
SCHD Schwab U.S. Dividend Equity ETF 11.0 6 4 8.4 +2.4
SPXT ProShares S&P 500 Ex-Technology ETF 11.0 27 -17 5.7 -0.2
DGRO iShares Core Dividend Growth ETF 11.0 8 2 6.7 +0.8
VFMF Vanguard U.S. Multifactor ETF 11.0 19 -9 7.3 +1.4
JHML John Hancock Multifactor Large Cap ETF 10.9 29 -19 5.7 -0.3
FAB First Trust Multi Cap Value AlphaDEX Fund 10.9 71 -61 9.7 +3.8
LEAD Reality Shares DIVCON Leaders Dividend ETF 10.9 43 -33 4.4 -1.5
JVAL JPMorgan U.S. Value Factor ETF 10.9 12 -2 8.9 +2.9
RWL Invesco S&P 500 Revenue ETF 10.8 39 -29 7.3 +1.4
SFYX Sofi Next 500 ETF 10.8 0 10 6.0 +0.1
FNDA Schwab Fundamental U.S. Small Co. Index ETF 10.7 25 -15 6.8 +0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 10.6 25 -15 6.6 +0.7
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 10.6 25 -15 6.7 +0.7

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 Industrials 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 19.2 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.56 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.