Vanguard Mid-Cap Value
ALTAR
Score™
7.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
14.8x P/Sales
ratio
1.2x
P/BV
ratio
1.9x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard Mid-Cap Value Index Fund seeks to track the performance of the Morgan Stanley Capital International US Mid Cap Value Index.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Aug 24, 2006
Assets (mns) $9,947
Currency USD
Expense ratio 7 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian JPMorgan Chase Bank
Weighting Multi-Factor
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 202
Wgt avg mkt cap (mns) $15,210
Large cap (>$10bn) 78.7%
Mid cap ($2-10bn) 21.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEWMONT MINING CORP 1.4 %
WEC ENERGY GROUP INC 1.3 %
MOTOROLA SOLUTIONS 1.2 %
EVERSOURCE ENERGY 1.2 %
FIRSTENERGY CORP 1.1 %
WILLIS TOWERS WATSON PUBLIC LIMITE 1.1 %
ENTERGY CORP 1.1 %
DTE ENERGY COMPANY 1.0 %
HARTFORD FINANCIAL SVCS GRP 1.0 %
AMERICAN WATER WORKS CO INC 1.0 %
Total 11.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.1 %
BERMUDA 2.3 %
BRITAIN 1.9 %
IRELAND 1.5 %
SWITZERLAND 0.6 %






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.
20.8% 10.4% 7.7% 13.2% 8.4%

Market Correlations
versus... Beta R-squared
S&P500 1.06 89%
MSCI EAFE 0.94 60%
MSCI Emg. Mkts. 0.62 43%

Technical Indicators
Recent close $115.90
30d moving avg. $114.23
Annualized volatility 13.6%
Short interest (ETF) 0.1%
Short interest (Underlying) 4.9%
Relative strength (RSI) 77

Liquidity measures
Avg. volume (thou.) 267
Turnover 0.3%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $19,126

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: VOE Expense: 7 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VOE
Ticker Fund
Name
Overlap1
vs VOE
(%)
Expense
ratio
(bp)
Savings
vs VOE
(bp)
ALTAR
Score™
(%)
ALTAR
vs VOE
(%)
JKI iShares Morningstar Mid Cap Value 55.5 30 -23 8.7 +1.1
VO Vanguard Mid-Cap ETF 52.0 4 3 5.8 -1.9
IWS iShares Russell Midcap Value 41.8 24 -17 7.0 -0.6
JKG iShares Morningstar MidCap Core 39.8 25 -18 6.1 -1.5
RVRS Reverse Cap Weighted US Large Cap 38.9 29 -22 8.0 +0.4
JHMM John Hancock Multifactor Mid Cap 35.5 44 -37 5.9 -1.7
OMFL Oppenheimer Russell 1000 Dynamic Multifactor 33.8 29 -22 9.7 +2.0
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 33.6 24 -17 6.1 -1.5
ONEY SPDR Russell 1000 Yield Focus 32.3 20 -13 8.4 +0.8
ONEV SPDR Russell 1000 Low Volatility Focus 31.5 20 -13 7.0 -0.7
IWR iShares Russell Midcap 30.6 19 -12 5.9 -1.7
RSP Invesco S&P 500 Equal Weight 30.5 20 -13 6.8 -0.8
FTA First Trust Large Cap Value 30.0 62 -55 8.7 +1.1
RBUS Nationwide Risk-Based U.S. Equity 29.7 30 -23 6.1 -1.6
SIZE iShares MSCI USA Size Factor 29.5 15 -8 6.3 -1.3
EUSA iShares MSCI USA Equal Weight 29.4 15 -8 6.5 -1.1
SCIU Global X Scientific Beta US 29.4 19 -12 5.7 -2.0
ULVM USAA MSCI USA Value Momentum Blend Index 29.4 20 -13 7.8 +0.1
OSIZ Invesco Russell 1000 Size Factor ETF 29.4 19 -12 6.3 -1.3
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation 28.3 60 -53 6.7 -0.9

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 Value
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.3 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.