Vanguard ESG International Stock ETF
ALTAR
Score™		 7.1% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 19.6x P/Sales
ratio		 1.4x
P/BV
ratio		 1.5x Div.
yield		 2.5%


  • 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) $1,315
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 4445
Wgt avg mkt cap (mns) $103,426
Large cap (>$10bn) 72.7%
Mid cap ($2-10bn) 21.4%
Small cap (<$2bn) 5.1%
Developed mkts 72.8%
Emerging mkts 26.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 3.3 %
TENCENT HOLDINGS LTD 2.6 %
TAIWAN SEMICONDUCTOR MANUFAC 2.2 %
NESTLE SA-REG 1.9 %
ROCHE HOLDING AG-GENUSSCHEIN 1.4 %
SAMSUNG ELECTRONICS CO LTD 1.3 %
TOYOTA MOTOR CORP 1.0 %
ASML HOLDING NV 0.9 %
ASTRAZENECA PLC 0.8 %
MEITUAN DIANPING 0.7 %
Total 16.2 %

TOP COUNTRY EXPOSURE
JAPAN 20.4 %
CHINA 12.8 %
BRITAIN 8.0 %
CANADA 7.2 %
SWITZERLAND 6.9 %
TAIWAN 5.9 %
GERMANY 5.3 %
AUSTRALIA 5.1 %
FRANCE 4.4 %
SOUTH KOREA 4.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.2% 6.9% -- -- 7.7%

Market Correlations
versus... Beta R-squared
S&P500 0.83 86%
MSCI EAFE 0.99 96%
MSCI Emg. Mkts. 0.77 88%

Technical Indicators
Recent close $52.19
30d moving avg. $52.30
Annualized volatility 18.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 96
Turnover 0.4%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $87,467

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.1%


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
(%)
ACWX iShares MSCI ACWI ex U.S. ETF 69.9 32 -15 7.3 +0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 69.8 40 -23 7.2 +0.1
VEU Vanguard FTSE All-World ex-US Index Fund 69.5 8 9 7.6 +0.5
IXUS ishares Core MSCI Total International Stock ETF 69.2 9 8 7.4 +0.3
SCHF Schwab International Equity ETF 68.1 6 11 7.4 +0.3
VEA Vanguard FTSE Developed Markets ETF 67.1 5 12 7.5 +0.4
VXUS Vanguard Total International Stock Index Fund 65.5 8 9 7.6 +0.5
IDEV iShares Core MSCI International Developed Markets ETF 64.1 5 12 7.3 +0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 63.8 7 10 7.6 +0.5
SPDW SPDR Portfolio Developed World ex-US ETF 61.8 4 13 7.2 +0.1
IEFA iShares Core MSCI EAFE ETF 61.4 7 10 7.4 +0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 61.4 20 -3 7.6 +0.5
CWI SPDR MSCI ACWI ex-US ETF 60.8 30 -13 7.3 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 58.1 20 -3 7.2 +0.1
EFA iShares MSCI EAFE ETF 57.7 32 -15 7.2 +0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 57.4 35 -18 7.1 -0.0
GSID Goldman Sachs MarketBeta International Equity ETF 57.0 20 -3 7.5 +0.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 55.9 16 1 7.0 -0.2
BKIE BNY Mellon International Equity ETF 55.4 4 13 7.6 +0.5
ESGD iShares MSCI EAFE ESG Optimized ETF 49.3 20 -3 7.1 -0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 49.1 45 -28 9.1 +2.0
JHMD John Hancock Multifactor Developed International ETF 47.9 39 -22 7.5 +0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 47.4 25 -8 6.8 -0.3
IQSI IQ Candriam ESG International Equity ETF 46.7 15 2 7.6 +0.5
FNDF Schwab Fundamental International Large Co. Index ETF 45.6 25 -8 9.0 +1.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 45.1 39 -22 8.5 +1.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 44.3 39 -22 6.7 -0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 43.8 30 -13 6.9 -0.2
AVDE Avantis International Equity ETF 43.5 23 -6 7.8 +0.7
PDEV Principal International Multi-Factor Core Index ETF 41.9 25 -8 8.1 +1.0
ISZE iShares Edge MSCI Intl Size Factor ETF 39.8 30 -13 7.4 +0.3
CIL VictoryShares International Volatility Weighted Index ETF 39.8 45 -28 7.1 -0.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 39.8 45 -28 7.1 -0.0
DWM WisdomTree International Equity Fund 39.3 48 -31 8.6 +1.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 38.9 35 -18 8.9 +1.8
DMXF iShares ESG Advanced MSCI EAFE ETF 38.6 12 5 7.0 -0.1
VGK Vanguard FTSE Europe ETF 37.5 8 9 7.7 +0.6
FEU SPDR Portfolio Europe ETF 37.2 9 8 7.6 +0.5
IEUR iShares Core MSCI Europe ETF 36.8 9 8 7.5 +0.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 36.7 35 -18 6.9 -0.2
EFG iShares MSCI EAFE Growth ETF 36.5 40 -23 4.6 -2.6
FLEH Franklin FTSE Europe Hedged ETF 35.3 9 8 7.4 +0.3
FLEE Franklin FTSE Europe ETF 35.3 9 8 7.3 +0.2
VYMI Vanguard International High Dividend Yield ETF 34.8 27 -10 10.3 +3.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 34.3 14 3 7.1 0.0
ISDX Invesco Strategic Developed ex-US ETF 34.1 23 -6 7.6 +0.5
VPL Vanguard FTSE Pacific ETF 33.5 8 9 7.4 +0.3
BBEU JPMorgan BetaBuilders Europe ETF 33.4 9 8 7.6 +0.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 32.9 45 -28 7.0 -0.2
IEMG iShares Core MSCI Emerging Markets ETF 32.9 13 4 7.8 +0.7
IEV iShares Europe ETF 31.4 59 -42 7.1 +0.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 31.3 24 -7 7.0 -0.1
DOL WisdomTree International LargeCap Dividend Fund 31.1 48 -31 9.1 +2.0
RESD WisdomTree International ESG Fund 31.1 30 -13 7.0 -0.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 30.5 20 -3 6.0 -1.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 30.3 25 -8 6.6 -0.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 29.9 65 -48 7.4 +0.3
EEM iShares MSCI Emerging Markets ETF 29.9 68 -51 7.3 +0.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 29.9 20 -3 6.0 -1.2
IQIN IQ 500 International ETF 29.9 25 -8 8.9 +1.8
TPIF Timothy Plan International ETF 29.8 62 -45 6.4 -0.7
VWO Vanguard FTSE Emerging Markets ETF 29.8 10 7 8.0 +0.9
ACWI iShares MSCI ACWI ETF 29.7 32 -15 5.7 -1.4
VT Vanguard Total World Stock Index Fund 29.7 8 9 6.0 -1.1
FLAX Franklin FTSE Asia Ex Japan ETF 28.8 19 -2 7.6 +0.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 28.5 59 -42 11.1 +4.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 28.1 68 -51 7.0 -0.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 27.7 36 -19 7.3 +0.1
EFV iShares MSCI EAFE Value ETF 27.6 39 -22 10.0 +2.9
IQLT iShares Edge MSCI Intl Quality Factor ETF 27.5 30 -13 6.1 -1.0
IPAC iShares Core MSCI Pacific ETF 27.5 9 8 7.2 +0.1
IGRO iShares International Dividend Growth ETF 27.5 22 -5 8.6 +1.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 27.4 29 -12 8.0 +0.9
RNDM Developed International Equity Select ETF 27.1 65 -48 6.3 -0.8
IDLB Invesco FTSE International Low Beta Equal Weight ETF 27.1 45 -28 6.6 -0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 26.8 30 -13 7.6 +0.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 26.7 30 -13 4.4 -2.7
SCHE Schwab Emerging Markets Equity ETF 26.6 11 6 7.9 +0.7
QWLD SPDR MSCI World StrategicFactors ETF 25.9 30 -13 6.1 -1.0
SPEM SPDR Portfolio Emerging Markets ETF 25.8 11 6 7.7 +0.6
JHEM John Hancock Multifactor Emerging Markets ETF 25.8 49 -32 8.7 +1.6
QINT American Century Quality Diversified International ETF 25.4 39 -22 6.2 -0.9
IDY Pacific Global International Equity Income ETF 24.8 39 -22 8.2 +1.1
EEMA iShares MSCI Emerging Markets Asia ETF 24.7 50 -33 7.6 +0.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 24.7 45 -28 7.5 +0.4
AVEM Avantis Emerging Markets Equity ETF 24.3 33 -16 8.8 +1.7
ESGG FlexShares STOXX Global ESG Impact Index Fund 24.2 42 -25 5.2 -1.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 24.1 15 2 8.4 +1.3
RBIN Nationwide Risk-Based International Equity ETF 24.0 42 -25 6.1 -1.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 23.8 30 -13 8.8 +1.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 23.6 29 -12 7.8 +0.7
ESGE iShares ESG MSCI EM ETF 23.6 25 -8 8.5 +1.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 23.5 20 -3 5.5 -1.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 23.5 9 8 5.8 -1.3
URTH iShares MSCI World ETF 23.4 24 -7 5.6 -1.5
SCID Global X Scientific Beta Europe ETF 22.9 39 -22 0.0 -7.1
VIGI Vanguard International Dividend Appreciation ETF 22.6 20 -3 5.6 -1.5
NUDM Nuveen ESG International Developed Markets Equity ETF 22.1 40 -23 7.0 -0.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 22.0 32 -15 5.6 -1.5

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:		 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 10.7 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 17 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 CATEGORY
AVERAGE		 1.57
 
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.