Vanguard Mid-Cap Growth
ALTAR
Score™
4.1% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
28.0x P/Sales
ratio
2.7x
P/BV
ratio
4.3x Div.
yield
0.9%


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

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Aug 24, 2006
Assets (mns) $6,632
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 174
Wgt avg mkt cap (mns) $17,886
Large cap (>$10bn) 87.6%
Mid cap ($2-10bn) 12.3%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ADVANCED MICRO DEVICES 1.8 %
AMPHENOL CORP-CL A 1.4 %
ONEOK INC 1.4 %
TRANSDIGM GROUP INC 1.3 %
IHS MARKIT LTD. 1.2 %
DOLLAR TREE INC 1.2 %
SBA COMMUNICATIONS CORP. CLASS A 1.2 %
FLEETCOR TECHNOLOGIES INC 1.2 %
GLOBAL PAYMENTS INC 1.1 %
DIGITAL REALTY TRUST INC 1.1 %
Total 13.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.8 %
BRITAIN 1.4 %
CANADA 1.1 %
IRELAND 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.
26.7% 18.2% 9.7% 14.1% 9.2%

Market Correlations
versus... Beta R-squared
S&P500 1.03 89%
MSCI EAFE 0.89 56%
MSCI Emg. Mkts. 0.62 45%

Technical Indicators
Recent close $151.08
30d moving avg. $149.25
Annualized volatility 13.2%
Short interest (ETF) 0.1%
Short interest (Underlying) 5.7%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 147
Turnover 0.3%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $25,956

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: VOT Expense: 7 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VOT
Ticker Fund
Name
Overlap1
vs VOT
(%)
Expense
ratio
(bp)
Savings
vs VOT
(bp)
ALTAR
Score™
(%)
ALTAR
vs VOT
(%)
JKH iShares Morningstar Mid Cap Growth 59.7 30 -23 2.8 -1.3
VO Vanguard Mid-Cap ETF 51.1 4 3 5.8 +1.8
IWP iShares Russell Midcap Growth 48.5 24 -17 4.6 +0.5
FTC First Trust Large Cap Growth 30.1 61 -54 3.7 -0.4
IWR iShares Russell Midcap 29.1 19 -12 6.0 +1.9
NUMG NuShares ESG Mid-Cap Growth 28.8 40 -33 4.4 +0.4
JHMM John Hancock Multifactor Mid Cap 28.3 44 -37 6.0 +1.9
JKG iShares Morningstar MidCap Core 25.4 25 -18 6.2 +2.1
FLQM Franklin LibertyQ U.S. Mid Cap Equity 25.0 30 -23 6.9 +2.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 25.0 9 -2 6.5 +2.4
TPLC Timothy Plan US Large Cap Core 24.1 52 -45 5.6 +1.5
SIZE iShares MSCI USA Size Factor 24.1 15 -8 6.4 +2.3
PSET Principal Price Setters 23.9 29 -22 5.6 +1.5
RPG Invesco S&P 500 Pure Growth ETF 23.7 35 -28 4.5 +0.4
EUSA iShares MSCI USA Equal Weight 23.2 15 -8 6.6 +2.5
RVRS Reverse Cap Weighted US Large Cap 21.9 29 -22 7.9 +3.9
ETHO Etho Climate Leadership U.S. 21.8 45 -38 4.9 +0.8
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 21.4 24 -17 6.1 +2.1
RSP Invesco S&P 500 Equal Weight 20.8 20 -13 6.9 +2.8
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation 20.5 60 -53 6.7 +2.6

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

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.8 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.