Virtus Real Asset Income ETF
ALTAR
Score™
11.0% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
15.9x P/Sales
ratio
1.2x
P/BV
ratio
1.2x Div.
yield
6.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Virtus Real Asset Income ETF seeks to track the Indxx Real Asset Income Index, an index comprised of income producing, U.S. equity securities in three real asset categories: real estate, natural resources, and infrastructure.

FUND BASICS
Category US Equities
Fund Sponsor Virtus
Website www.virtus.com
Inception date Feb 07, 2019
Assets (mns) $120
Currency USD
Expense ratio 55 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 90
Wgt avg mkt cap (mns) $13,425
Large cap (>$10bn) 30.6%
Mid cap ($2-10bn) 43.8%
Small cap (<$2bn) 25.6%
Developed mkts 89.6%
Emerging mkts 10.4%

TOP TEN HOLDINGS
DELEK LOGISTICS PARTNERS LP 2.5 %
WESTERN GAS EQUITY PARTNERS LP 1.7 %
CANADIAN NATURAL RESOURCES 1.6 %
MARATHON PETROLEUM 1.6 %
LAMAR ADVERTISING COMPANY CLASS A 1.5 %
VALERO ENERGY CORP 1.5 %
VIPER ENERGY PARTNERS LP 1.5 %
ONEOK INC 1.4 %
NORBORD INC 1.4 %
PHILLIPS 66 1.4 %
Total 16.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 67.9 %
CANADA 7.2 %
CHINA 2.5 %
BERMUDA 2.3 %
BRITAIN 2.3 %
CHILE 1.9 %
ARGENTINA 1.8 %
NORWAY 1.2 %
LUXEMBOURG 1.1 %
MEXICO 1.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-22.7% -16.5% -- -- -16.6%

Market Correlations
versus... Beta R-squared
S&P500 1.37 88%
MSCI EAFE 1.46 90%
MSCI Emg. Mkts. 1.20 89%

Technical Indicators
Recent close $20.33
30d moving avg. $18.38
Annualized volatility 31.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.3%
Bid/Ask (% of price) 0.49%
ADV underlying (mns) $6,971

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Virtus Real Asset Income ETF ETF based on the alternatives' overlap in portfolio holdings with VRAI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VRAI Expense: 55 bp ALTAR Score™: 11.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VRAI
Ticker Fund
Name
Overlap1
vs VRAI
(%)
Expense
ratio
(bp)
Savings
vs VRAI
(bp)
ALTAR
Score™
(%)
ALTAR
vs VRAI
(%)
RORE Hartford Multifactor REIT ETF 17.7 45 10 15.4 +4.4
USRT iShares Core U.S. REIT ETF 14.3 8 47 7.5 -3.5
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 13.9 11 44 7.5 -3.5
FRI First Trust S&P REIT Index Fund 13.7 50 5 7.1 -3.9
GRI ALPS REIT Dividend Dogs ETF 13.1 35 20 15.5 +4.5
PSR Invesco Active U.S. Real Estate Fund 12.7 35 20 6.2 -4.8
FREL Fidelity MSCI Real Estate Index ETF 11.8 8 47 6.7 -4.3
IXC iShares Global Energy ETF 11.2 46 9 5.5 -5.5
PPTY PPTY-U.S. Diversified Real Estate ETF 11.2 53 2 6.5 -4.5
IYR iShares U.S. Real Estate ETF 11.0 42 13 6.6 -4.5
VNQ Vanguard REIT Index Fund 10.7 12 43 6.6 -4.4
CVY Invesco Zacks Multi-Asset Income ETF 10.5 97 -42 12.4 +1.4
SPYD SPDR S&P 500 High Dividend ETF 10.3 7 48 10.4 -0.7
ONEY SPDR Russell 1000 Yield Focus ETF 10.1 20 35 8.4 -2.6
REET iShares Global REIT ETF 9.8 14 41 7.5 -3.5
JDIV JPMorgan U.S. Dividend ETF 9.5 12 43 8.0 -3.0
PID Invesco International Dividend Achievers ETF 9.2 54 1 10.5 -0.5
ZMLP Direxion Zacks MLP High Income Shares 8.8 65 -10 4.1 -6.9
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 8.5 60 -5 7.4 -3.6
LVHD Legg Mason Low Volatility High Dividend ETF 8.5 27 28 8.6 -2.4
DON WisdomTree U.S. MidCap Dividend Fund 8.5 38 17 7.7 -3.3
DHS WisdomTree U.S. High Dividend Fund 8.5 38 17 8.5 -2.5
AMZA InfraCap MLP ETF 8.2 240 -185 8.5 -2.5
SPDV AAM S&P 500 High Dividend Value ETF 8.2 29 26 10.8 -0.2
EMLP First Trust North American Energy Infrastructure Fund 8.2 95 -40 5.4 -5.6
SCHH Schwab U.S. REIT ETF 8.1 7 48 7.7 -3.3
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 8.1 39 16 6.3 -4.7
RWR SPDR Dow Jones REIT ETF 8.1 25 30 7.5 -3.5
IGE iShares North American Natural Resources ETF 8.1 46 9 3.9 -7.1
MLPX Global X MLP & Energy Infrastructure ETF 8.1 45 10 4.5 -6.5
IYE iShares U.S. Energy ETF 7.9 42 13 3.7 -7.3
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 7.8 35 20 8.4 -2.6
REZ iShares Residential Real Estate Capped ETF 7.8 48 7 6.2 -4.8
IFRA iShares U.S. Infrastructure ETF 7.8 40 15 5.6 -5.4
NETL NETLease Corporate Real Estate ETF 7.8 60 -5 8.5 -2.5
PYZ Invesco DWA Basic Materials Momentum ETF 7.8 60 -5 5.9 -5.1
RTL Pacer Benchmark Retail Real Estate SCTR ETF 7.7 60 -5 12.8 +1.8
DTN WisdomTree U.S. Dividend ex-Financials Fund 7.7 38 17 7.9 -3.1
GCOW Pacer Global High Dividend ETF 7.6 60 -5 10.9 -0.1
ESGS Columbia Sustainable U.S. Equity Income ETF 7.3 35 20 9.0 -2.0
FENY Fidelity MSCI Energy Index ETF 7.2 8 47 3.7 -7.3
FCTR First Trust Lunt U.S. Factor Rotation ETF 7.2 65 -10 5.0 -6.0
VDE Vanguard Energy Index Fund 7.2 10 45 3.7 -7.3
AMLP The Alerian MLP ETF 7.1 85 -30 8.7 -2.3
FTXN First Trust Nasdaq Oil & Gas ETF 7.1 60 -5 2.1 -8.9
GQRE FlexShares Global Quality Real Estate Index Fund 7.0 45 10 7.6 -3.4
PY Principal Shareholder Yield Index ETF 6.9 29 26 9.3 -1.7
XLE Energy Select Sector SPDR Fund 6.8 13 42 4.1 -6.9
JHME John Hancock Multifactor Energy ETF 6.8 40 15 3.5 -7.5
RYE Invesco S&P 500 Equal Weight Energy ETF 6.8 40 15 3.2 -7.8
FXN First Trust Energy AlphaDEX Fund 6.8 65 -10 -0.6 -11.6
DVY iShares Select Dividend ETF 6.8 39 16 8.1 -2.9
FXZ First Trust Materials AlphaDEX Fund 6.8 65 -10 7.3 -3.7
ENFR Alerian Energy Infrastructure ETF 6.7 55 0 4.9 -6.1
IGF iShares Global Infrastructure ETF 6.7 46 9 5.2 -5.9
GII SPDR S&P Global Infrastructure ETF 6.7 40 15 5.3 -5.7
USAI Pacer American Energy Independence ETF 6.7 75 -20 2.7 -8.3
FDL First Trust Morningstar Dividend Leaders Index Fund 6.7 45 10 8.2 -2.8
YMLP VanEck Vectors High Income MLP ETF 6.6 45 10 5.2 -5.8
ROOF IQ US Real Estate Small Cap ETF 6.5 70 -15 11.0 +0.0
FTA First Trust Large Cap Value AlphaDEX Fund 6.5 60 -5 9.1 -1.9
SPVU Invesco S&P 500 Enhanced Value ETF 6.5 13 42 11.0 -0.0
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 6.5 35 20 8.5 -2.5
XOP SPDR S&P Oil & Gas Exploration & Production ETF 6.4 35 20 2.5 -8.5
MLPA Global X MLP ETF 6.4 45 10 9.5 -1.5
CRAK VanEck Vectors Oil Refiners ETF 6.4 60 -5 12.0 +1.0
WBIY WBI Power Factor High Dividend ETF 6.2 70 -15 13.6 +2.6
TPHD Timothy Plan High Dividend Stock ETF 6.2 52 3 7.2 -3.8
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 6.1 30 25 9.5 -1.6
MAGA Point Bridge GOP Stock Tracker ETF 6.1 72 -17 6.6 -4.4
TPYP Tortoise North American Pipeline Fund 6.1 40 15 5.8 -5.3
JHMA John Hancock Multifactor Materials ETF 6.0 40 15 6.9 -4.2
RDIV Invesco S&P Ultra Dividend Revenue ETF 6.0 39 16 10.8 -0.3
IJJ iShares S&P Mid-Cap 400 Value ETF 6.0 25 30 8.3 -2.8
MDYV SPDR S&P 400 Mid Cap Value ETF 6.0 15 40 8.4 -2.7
IVOV Vanguard S&P Mid-Cap 400 Value ETF 6.0 15 40 8.4 -2.6
FCPI Fidelity Stocks for Inflation ETF 6.0 29 26 6.8 -4.2
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 6.0 25 30 7.4 -3.7
FILL iShares MSCI Global Energy Producers ETF 6.0 39 16 6.1 -4.9
PXI Invesco DWA Energy Momentum ETF 5.9 60 -5 4.0 -7.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 5.9 46 9 5.3 -5.8
NURE Nuveen Short-Term REIT ETF 5.9 35 20 7.7 -3.3
HDV iShares Core High Dividend ETF 5.8 8 47 6.5 -4.5
SPHB Invesco S&P 500 High Beta ETF 5.8 25 30 10.1 -0.9
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 5.8 49 6 9.9 -1.1
GLIF AGFiQ Global Infrastructure ETF 5.8 45 10 5.1 -5.9
SRET Global X SuperDividend REIT ETF 5.8 59 -4 14.1 +3.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 5.7 65 -10 11.9 +0.9
SYLD Cambria Shareholder Yield ETF 5.7 59 -4 9.1 -1.9
VALQ American Century STOXX U.S. Quality Value ETF 5.7 29 26 8.9 -2.1
DIV Global X SuperDividend US ETF 5.7 45 10 9.8 -1.2
GRES IQ Global Resources ETF 5.6 77 -22 7.4 -3.7
SLT Salt TruBeta High Exposure ETF 5.6 29 26 6.7 -4.3
GBDV Global Beta Smart Income ETF 5.5 29 26 12.0 +1.0
BOSS Global X Founder-Run Companies ETF 5.5 45 10 3.8 -7.2
IYM iShares U.S. Basic Materials ETF 5.5 42 13 5.5 -5.5
LRGF iShares Edge MSCI Multifactor USA ETF 5.5 20 35 7.0 -4.0
DEW WisdomTree Global High Dividend Fund 5.4 58 -3 9.2 -1.8
IEO iShares U.S. Oil & Gas Exploration & Production ETF 5.4 42 13 3.2 -7.8
GNR SPDR S&P Global Natural Resources ETF 5.4 40 15 6.5 -4.5

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:
Virtus Real Asset Income ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.5 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 11.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.53
 
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.