Vanguard Mid-Cap Index Fund
ALTAR
Score™
5.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
18.9x P/Sales
ratio
1.7x
P/BV
ratio
2.5x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard Mid-Cap ETF seeks to track the performance of the MSCI US Mid Cap 450 Index. The Fund invests all of its assets in the stocks that make up the Index, holding each stock in the same pr

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Jan 30, 2004
Assets (mns) $30,484
Currency USD
Expense ratio 4 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 341
Wgt avg mkt cap (mns) $17,762
Large cap (>$10bn) 87.4%
Mid cap ($2-10bn) 12.5%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEWMONT MINING CORP 0.9 %
CENTENE CORP 0.8 %
SBA COMMUNICATIONS CORP. CLASS A 0.7 %
WEC ENERGY GROUP INC 0.7 %
TRANSDIGM GROUP INC 0.7 %
ONEOK INC 0.7 %
MOTOROLA SOLUTIONS 0.7 %
EVERSOURCE ENERGY 0.7 %
AMPHENOL CORP-CL A 0.7 %
IHS MARKIT LTD. 0.7 %
Total 7.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.0 %
BRITAIN 1.7 %
BERMUDA 1.2 %
IRELAND 0.8 %
CANADA 0.6 %
SWITZERLAND 0.3 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.3% 18.3% 9.6% 13.5% 9.9%

Market Correlations
versus... Beta R-squared
S&P500 1.04 95%
MSCI EAFE 0.97 69%
MSCI Emg. Mkts. 0.63 51%

Technical Indicators
Recent close $178.82
30d moving avg. $182.55
Annualized volatility 12.9%
Short interest (ETF) 0.2%
Short interest (Underlying) 5.3%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 604
Turnover 0.4%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $42,562

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard Mid-Cap Index Fund ETF based on the alternatives' overlap in portfolio holdings with VO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VO Expense: 4 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VO
Ticker Fund
Name
Overlap1
vs VO
(%)
Expense
ratio
(bp)
Savings
vs VO
(bp)
ALTAR
Score™
(%)
ALTAR
vs VO
(%)
JHMM John Hancock Multifactor Mid Cap ETF 58.1 44 -40 5.8 +0.2
IWR iShares Russell Midcap ETF 56.6 19 -15 5.6 +0.0
IWS iShares Russell Mid-Cap Value ETF 52.5 24 -20 6.7 +1.0
VOT Vanguard Mid-Cap Growth Index Fund 51.8 7 -3 3.8 -1.8
VOE Vanguard Mid-Cap Value Index Fund 50.1 7 -3 7.5 +1.9
SIZE iShares Edge MSCI USA Size Factor ETF 48.7 15 -11 6.1 +0.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 48.4 9 -5 6.0 +0.4
RVRS Reverse Cap Weighted U.S. Large Cap ETF 48.4 29 -25 7.6 +2.0
EUSA iShares MSCI USA Equal Weighted ETF 48.0 15 -11 6.1 +0.5
RSP Invesco S&P 500 Equal Weight ETF 46.1 20 -16 6.7 +1.1
IWP iShares Russell Mid-Cap Growth ETF 45.6 24 -20 4.4 -1.2
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 44.9 24 -20 6.0 +0.4
SCIU Global X Scientific Beta US ETF 44.8 19 -15 5.8 +0.2
OSIZ Invesco Russell 1000 Size Factor ETF 44.7 19 -15 6.1 +0.5
FEX First Trust Large Cap Core AlphaDEX Fund 40.2 60 -56 6.1 +0.5
SSPY Syntax Stratified LargeCap ETF 38.8 30 -26 6.0 +0.4
TPLC Timothy Plan US Large Cap Core ETF 38.4 52 -48 5.5 -0.2
CFO Victory CEMP US 500 Enhanced Volatility Weighted Index ETF 37.8 35 -31 6.1 +0.5
CFA Victory CEMP US 500 Volatility Weighted Index ETF 37.6 35 -31 6.1 +0.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 35.6 20 -16 7.1 +1.4

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 Mid-Cap 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 13.8 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 4 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.56
 
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.