Vanguard ESG International Stock ETF
ALTAR
Score™		 6.3% info Recommen-
dation		 NEUTRAL
2021E    2022E
P/E
ratio		 16.5x P/Sales
ratio		 1.4x
P/BV
ratio		 1.6x Div.
yield		 2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Vanguard ESG International Stock ETF tracks a market-cap-weighted index of global ex-US companies screened for environmental, social, and corporate governance (ESG) criteria.

FUND BASICS
Category International Equities
Fund Sponsor Vanguard
Website institutional.vanguard.com
Inception date Sep 18, 2018
Assets (mns) $1,777
Currency USD
Expense ratio 17 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 4595
Wgt avg mkt cap (mns) $127,951
Large cap (>$10bn) 73.7%
Mid cap ($2-10bn) 19.8%
Small cap (<$2bn) 4.7%
Developed mkts 70.1%
Emerging mkts 29.4%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 3.1 %
TENCENT HOLDINGS LTD 3.1 %
ALIBABA GROUP HOLDING LTD. SPONSOR 2.6 %
SAMSUNG ELECTRONICS CO LTD 1.8 %
NESTLE SA-REG 1.7 %
ASML HOLDING NV 1.3 %
ROCHE HOLDING AG-GENUSSCHEIN 1.3 %
MEITUAN DIANPING 1.1 %
TOYOTA MOTOR CORP 1.0 %
AIA GROUP LTD 0.9 %
Total 17.9 %

TOP COUNTRY EXPOSURE
JAPAN 22.8 %
CHINA 15.0 %
BRITAIN 8.9 %
CANADA 8.0 %
TAIWAN 7.4 %
SWITZERLAND 6.9 %
GERMANY 6.1 %
AUSTRALIA 5.9 %
SOUTH KOREA 5.7 %
FRANCE 4.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
2.4% 27.0% -- -- 14.2%

Market Correlations
versus... Beta R-squared
S&P500 0.86 87%
MSCI EAFE 0.91 94%
MSCI Emg. Mkts. 0.79 86%

Technical Indicators
Recent close $60.66
30d moving avg. $62.02
Annualized volatility 18.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 195
Turnover 0.7%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $147,817

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Vanguard ESG International Stock ETF ETF based on the alternatives' overlap in portfolio holdings with VSGX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VSGX Expense: 17 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VSGX
Ticker Fund
Name		 Overlap1
vs VSGX
(%)		 Expense
ratio
(bp)		 Savings
vs VSGX
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs VSGX
(%)
DFAI Dimensional International Core Equity Market ETF 71.0 18 -1 6.2 -0.1
VEU Vanguard FTSE All-World ex-US Index Fund 70.7 8 9 6.6 +0.3
ACWX iShares MSCI ACWI ex U.S. ETF 69.4 32 -15 6.3 0.0
SCHF Schwab International Equity ETF 69.3 6 11 6.5 +0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 69.2 40 -23 6.0 -0.3
IXUS ishares Core MSCI Total International Stock ETF 69.1 9 8 6.4 +0.1
VEA Vanguard FTSE Developed Markets ETF 67.8 5 12 6.5 +0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 67.8 7 10 6.5 +0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 67.1 20 -3 6.4 +0.1
IDEV iShares Core MSCI International Developed Markets ETF 64.2 5 12 6.3 +0.0
IEFA iShares Core MSCI EAFE ETF 63.7 7 10 6.4 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 63.2 20 -3 6.2 -0.1
EFA iShares MSCI EAFE ETF 62.3 32 -15 6.2 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 62.1 4 13 6.1 -0.2
CWI SPDR MSCI ACWI ex-US ETF 62.0 30 -13 6.2 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 62.0 16 1 5.9 -0.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 61.8 35 -18 6.0 -0.3
BKIE BNY Mellon International Equity ETF 61.8 4 13 6.5 +0.2
GSID Goldman Sachs MarketBeta International Equity ETF 61.2 20 -3 6.2 -0.1
VXUS Vanguard Total International Stock ETF 56.0 8 9 6.6 +0.3
ESGD iShares MSCI EAFE ESG Optimized ETF 53.8 20 -3 6.2 -0.1
IQSI IQ Candriam ESG International Equity ETF 53.2 15 2 6.2 -0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 50.9 45 -28 7.4 +1.1
JHMD John Hancock Multifactor Developed International ETF 49.6 39 -22 6.4 +0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 49.2 25 -8 6.1 -0.2
FNDF Schwab Fundamental International Large Co. Index ETF 47.1 25 -8 7.5 +1.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 45.8 39 -22 5.6 -0.7
PDEV Principal International Multi-Factor Core Index ETF 45.8 25 -8 7.0 +0.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 45.7 39 -22 6.7 +0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 45.6 30 -13 6.1 -0.2
DMXF iShares ESG Advanced MSCI EAFE ETF 44.5 12 5 5.9 -0.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 44.0 35 -18 6.0 -0.3
AVDE Avantis International Equity ETF 44.0 23 -6 6.7 +0.4
ISZE iShares Edge MSCI Intl Size Factor ETF 42.8 30 -13 6.1 -0.2
CIL VictoryShares International Volatility Weighted Index ETF 42.0 45 -28 6.4 +0.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 41.9 45 -28 6.2 -0.1
VGK Vanguard FTSE Europe ETF 41.3 8 9 6.6 +0.3
SPEU SPDR Portfolio Europe ETF 40.8 9 8 6.5 +0.2
IEUR iShares Core MSCI Europe ETF 40.5 9 8 6.4 +0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 40.0 40 -23 7.2 +0.9
IEMG iShares Core MSCI Emerging Markets ETF 39.3 11 6 6.7 +0.4
DWM WisdomTree International Equity Fund 39.2 48 -31 7.1 +0.8
VYMI Vanguard International High Dividend Yield ETF 39.0 27 -10 9.0 +2.7
VPL Vanguard FTSE Pacific ETF 38.6 8 9 6.3 +0.0
FLEH Franklin FTSE Europe Hedged ETF 38.3 9 8 6.4 +0.1
FLEE Franklin FTSE Europe ETF 38.3 9 8 6.4 +0.1
EFG iShares MSCI EAFE Growth ETF 37.9 40 -23 4.0 -2.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 37.2 14 3 6.0 -0.3
BBEU JPMorgan BetaBuilders Europe ETF 36.2 9 8 6.6 +0.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 35.9 45 -28 6.0 -0.3
EEM iShares MSCI Emerging Markets ETF 35.9 70 -53 6.0 -0.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 35.7 65 -48 6.0 -0.3
VWO Vanguard FTSE Emerging Markets ETF 35.0 10 7 7.1 +0.8
FLAX Franklin FTSE Asia Ex Japan ETF 34.5 19 -2 6.3 +0.0
IEV iShares Europe ETF 34.3 59 -42 6.1 -0.2
ISDX Invesco RAFI Strategic Developed ex-US ETF 34.3 23 -6 6.2 -0.1
RESD WisdomTree International ESG Fund 33.8 30 -13 6.3 0.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 33.7 68 -51 5.7 -0.6
DOL WisdomTree International LargeCap Dividend Fund 33.7 48 -31 7.1 +0.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 33.5 36 -19 7.0 +0.7
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 33.1 24 -7 6.5 +0.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 32.6 59 -42 10.4 +4.1
TPIF Timothy Plan International ETF 32.4 62 -45 5.9 -0.4
DFAE Dimensional Emerging Core Equity Market ETF 32.2 35 -18 7.1 +0.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 32.1 30 -13 6.5 +0.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 31.7 25 -8 6.0 -0.3
SCHE Schwab Emerging Markets Equity ETF 31.4 11 6 6.8 +0.5
IPAC iShares Core MSCI Pacific ETF 31.3 9 8 6.1 -0.2
EFV iShares MSCI EAFE Value ETF 31.3 39 -22 8.1 +1.8
LOWC SPDR MSCI ACWI Low Carbon Target ETF 31.1 20 -3 5.4 -0.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 31.0 20 -3 5.4 -0.9
IQIN IQ 500 International ETF 30.9 25 -8 7.3 +1.0
JHEM John Hancock Multifactor Emerging Markets ETF 30.7 49 -32 7.2 +1.0
SPEM SPDR Portfolio Emerging Markets ETF 30.7 11 6 6.7 +0.4
VT Vanguard Total World Stock ETF 30.5 8 9 5.4 -0.9
ACWI iShares MSCI ACWI ETF 30.4 32 -15 5.2 -1.1
EEMA iShares MSCI Emerging Markets Asia ETF 29.6 50 -33 6.4 +0.1
PQIN PGIM QMA Strategic Alpha International Equity ETF 29.1 29 -12 7.1 +0.8
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 28.8 45 -28 6.5 +0.2
BKEM BNY Mellon Emerging Markets Equity ETF 28.6 11 6 6.8 +0.6
IMTM iShares Edge MSCI Intl Momentum Factor ETF 28.4 30 -13 3.8 -2.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 28.4 30 -13 5.4 -0.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 28.0 15 2 7.7 +1.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 27.8 45 -28 6.3 -0.0
ESGE iShares ESG Aware MSCI EM ETF 27.8 25 -8 6.8 +0.5
AVEM Avantis Emerging Markets Equity ETF 27.4 33 -16 7.5 +1.2
RNDM First Trust Developed International Equity Select ETF 27.3 65 -48 5.6 -0.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 27.1 30 -13 7.7 +1.4
RBIN Nationwide Risk-Based International Equity ETF 26.3 42 -25 5.9 -0.4
QINT American Century Quality Diversified International ETF 26.0 39 -22 6.2 -0.1
QWLD SPDR MSCI World StrategicFactors ETF 25.2 30 -13 5.5 -0.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 25.2 42 -25 4.8 -1.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 24.6 32 -15 5.3 -1.0
VIGI Vanguard International Dividend Appreciation ETF 24.0 20 -3 4.8 -1.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 23.8 29 -12 7.2 +1.0
NUDM Nuveen ESG International Developed Markets Equity ETF 23.7 40 -23 5.8 -0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 23.7 9 8 5.3 -1.0

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

  2016 2017 2018 2019 2020 2021E 2022E
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
  2020 2021E 2022E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Vanguard ESG International Stock 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 10.5 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 17 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 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.