Vanguard Mid-Cap ETF
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.4x P/Sales
ratio
1.7x
P/BV
ratio
2.6x 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) $28,560
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 367
Wgt avg mkt cap (mns) $16,549
Large cap (>$10bn) 83.1%
Mid cap ($2-10bn) 16.8%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ADVANCED MICRO DEVICES 1.0 %
NEWMONT MINING CORP 0.7 %
AMPHENOL CORP-CL A 0.7 %
ONEOK INC 0.7 %
TRANSDIGM GROUP INC 0.7 %
KLA-TENCOR CORPORATION 0.7 %
WEC ENERGY GROUP INC 0.6 %
IHS MARKIT LTD. 0.6 %
MOTOROLA SOLUTIONS 0.6 %
SBA COMMUNICATIONS CORP. CLASS A 0.6 %
Total 6.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
BRITAIN 1.7 %
BERMUDA 1.2 %
IRELAND 0.9 %
CANADA 0.5 %
SWITZERLAND 0.3 %





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.
23.9% 14.3% 8.7% 13.7% 9.7%

Market Correlations
versus... Beta R-squared
S&P500 1.05 94%
MSCI EAFE 0.92 61%
MSCI Emg. Mkts. 0.62 46%

Technical Indicators
Recent close $172.61
30d moving avg. $170.31
Annualized volatility 13.0%
Short interest (ETF) 0.3%
Short interest (Underlying) 5.3%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 406
Turnover 0.3%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $43,491

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard Mid-Cap ETF 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™: 5.8%


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 58.8 44 -40 6.0 +0.2
IWR iShares Russell Midcap 56.5 19 -15 5.9 +0.1
VOE Vanguard Mid-Cap Value 52.0 7 -3 7.7 +1.9
IWS iShares Russell Midcap Value 51.8 24 -20 7.1 +1.3
VOT Vanguard Mid-Cap Growth 51.5 7 -3 4.0 -1.8
SIZE iShares MSCI USA Size Factor 49.4 15 -11 6.3 +0.5
EUSA iShares MSCI USA Equal Weight 48.4 15 -11 6.5 +0.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 48.1 9 -5 6.4 +0.6
RVRS Reverse Cap Weighted US Large Cap 47.0 29 -25 8.0 +2.2
RSP Invesco S&P 500 Equal Weight 46.6 20 -16 6.9 +1.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 45.7 24 -20 6.2 +0.4
IWP iShares Russell Midcap Growth 45.5 24 -20 4.5 -1.3
OSIZ Invesco Russell 1000 Size Factor ETF 43.6 19 -15 6.3 +0.5
SCIU Global X Scientific Beta US 43.3 19 -15 5.7 -0.1
FEX First Trust Large Cap Core Alphadex 39.8 61 -57 6.4 +0.6
CFA Compass EMP US 500 Volatility Weighted 38.5 35 -31 6.1 +0.3
CFO Victory CEMP US 500 Enhanced Volatility Wtd 38.4 35 -31 6.1 +0.3
TPLC Timothy Plan US Large Cap Core 38.4 52 -48 5.6 -0.2
ONEO SPDR Russell 1000 Momentum Focus 36.3 20 -16 6.5 +0.7
DEUS Xtrackers Russell 1000 Comprehensive Factor 36.0 17 -13 6.4 +0.6

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 Mid-Cap ETF
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 13.9 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 4 bp
Equals: ALTAR Score 5.8 %
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.