Vanguard Industrials
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.6x P/Sales
ratio
1.6x
P/BV
ratio
3.9x Div.
yield
1.7%


  • 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 29, 2004
Assets (mns) $3,648
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 354
Wgt avg mkt cap (mns) $56,112
Large cap (>$10bn) 78.2%
Mid cap ($2-10bn) 17.1%
Small cap (<$2bn) 4.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BOEING CO 6.2 %
HONEYWELL INTERNATIONAL INC 4.1 %
UNION PACIFIC CORP 3.9 %
UNITED TECHNOLOGIES CORP 3.8 %
GENERAL ELECTRIC CO 3.1 %
LOCKHEED MARTIN CORP 3.1 %
3M CO 3.1 %
UNITED PARCEL SERVICE-CL B 2.7 %
CATERPILLAR INC 2.6 %
RAYTHEON COMPANY 1.9 %
Total 34.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.8 %
IRELAND 3.7 %
BRITAIN 1.5 %
CANADA 0.8 %
BERMUDA 0.1 %






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.
24.6% 15.0% 9.3% 14.2% 9.3%

Market Correlations
versus... Beta R-squared
S&P500 1.28 85%
MSCI EAFE 1.08 51%
MSCI Emg. Mkts. 0.71 36%

Technical Indicators
Recent close $152.71
30d moving avg. $150.15
Annualized volatility 16.8%
Short interest (ETF) 0.7%
Short interest (Underlying) 3.5%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 76
Turnover 0.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $18,174

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard Industrials 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™: 6.3%


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 Industrials 95.4 8 2 6.0 -0.3
XLI Industrials Select Sector SPDR 76.2 13 -3 6.2 -0.1
IYJ iShares DJ US Industrials 70.4 42 -32 5.4 -0.9
JHMI John Hancock Multifactor Industrials 63.6 40 -30 6.7 +0.4
RGI Invesco S&P Equal Weight Industrials 55.1 40 -30 6.7 +0.4
EXI iShares Global Industrials 52.0 46 -36 6.1 -0.2
FXR First Trust Industrials/Producer Durables 35.4 62 -52 7.0 +0.7
PPA Invesco Aero & Defense 28.0 59 -49 5.1 -1.2
BIBL Inspire 100 27.1 35 -25 5.6 -0.7
ITA iShares U.S. Aerospace & Defense 24.1 42 -32 5.4 -0.9
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation 23.3 60 -50 6.8 +0.4
VIG Vanguard Dividend Appreciation 22.4 6 4 5.5 -0.9
XAR SPDR S&P Aerospace & Defense 21.3 35 -25 5.0 -1.4
XKFF SPDR Kensho Final Frontiers 20.9 45 -35 4.9 -1.4
MAGA Point Bridge GOP Stock Tracker 20.4 72 -62 6.6 +0.2
TPLC Timothy Plan US Large Cap Core 19.0 52 -42 5.6 -0.8
JKD iShares Morningstar Large Companies 18.5 20 -10 5.8 -0.6
DGRW WisdomTree US Dividend Growth 18.1 28 -18 6.7 +0.4
DSTL Distillate US Fundamental Stability & Value 17.2 39 -29 7.3 +0.9
ONEO SPDR Russell 1000 Momentum Focus 17.2 20 -10 6.5 +0.1

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

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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
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 21.6 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.