Vanguard FTSE All World (ex-US) Small Cap Index Fund
ALTAR
Score™
6.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
25.7x P/Sales
ratio
0.9x
P/BV
ratio
1.2x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard FTSE All World ex-US Small-Cap ETF seeks to track the performance of a benchmark index that measures the investment return of both developed and emerging international small cap companies.

FUND BASICS
Category International Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Apr 02, 2009
Assets (mns) $5,480
Currency USD
Expense ratio 11 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 3756
Wgt avg mkt cap (mns) $1,881
Large cap (>$10bn) 2.5%
Mid cap ($2-10bn) 41.8%
Small cap (<$2bn) 52.5%
Developed mkts 74.8%
Emerging mkts 24.1%

TOP TEN HOLDINGS
KIRKLAND LAKE GOLD LTD. 0.6 %
KINROSS GOLD CORP 0.5 %
OPEN TEXT CORP 0.4 %
EMERA INC 0.4 %
EVOLUTION GAMING GROUP AB 0.3 %
ALGONQUIN POWER & UTILITIES 0.3 %
PAN AMERICAN SILVER CORP 0.3 %
GENIVAR INC 0.3 %
B2GOLD CORP 0.3 %
HELLOFRESH SE 0.3 %
Total 3.6 %

TOP COUNTRY EXPOSURE
CANADA 12.3 %
JAPAN 10.6 %
BRITAIN 6.5 %
TAIWAN 6.5 %
AUSTRALIA 4.1 %
SOUTH KOREA 3.7 %
SWEDEN 3.5 %
SWITZERLAND 2.9 %
GERMANY 2.9 %
CHINA 2.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.1% 10.0% 5.7% 5.9% 8.8%

Market Correlations
versus... Beta R-squared
S&P500 1.03 83%
MSCI EAFE 1.18 92%
MSCI Emg. Mkts. 0.90 85%

Technical Indicators
Recent close $108.41
30d moving avg. $106.48
Annualized volatility 19.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 153
Turnover 0.3%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $2,780

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Vanguard FTSE All World (ex-US) Small Cap Index Fund ETF based on the alternatives' overlap in portfolio holdings with VSS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VSS Expense: 11 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VSS
Ticker Fund
Name
Overlap1
vs VSS
(%)
Expense
ratio
(bp)
Savings
vs VSS
(bp)
ALTAR
Score™
(%)
ALTAR
vs VSS
(%)
SCHC Schwab International Small-Cap Equity ETF 59.6 11 0 6.5 -0.0
SCZ iShares MSCI Eafe Small-Cap ETF 40.0 40 -29 6.9 +0.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 31.5 49 -38 6.2 -0.3
GWX SPDR S&P International Small Cap ETF 30.5 40 -29 6.2 -0.3
FNDC Schwab Fundamental International Small Co. Index ETF 29.7 39 -28 7.0 +0.5
IEUS iShares MSCI Europe Small-Cap ETF 26.3 40 -29 7.5 +1.0
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 15.7 43 -32 8.4 +1.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 14.7 39 -28 8.1 +1.7
DLS WisdomTree International SmallCap Dividend Fund 14.7 58 -47 8.2 +1.8
AVDE Avantis International Equity ETF 13.8 23 -12 7.5 +1.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 13.4 69 -58 7.7 +1.2
AVDV Avantis International Small Cap Value ETF 12.9 36 -25 7.6 +1.1
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 12.3 40 -29 8.4 +1.9
EWX SPDR S&P Emerging Markets Small Cap ETF 12.2 65 -54 6.0 -0.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 10.7 39 -28 6.4 -0.1
SCJ iShares MSCI Japan Small-Cap ETF 10.0 49 -38 6.1 -0.4
AVEM Avantis Emerging Markets Equity ETF 9.7 33 -22 8.9 +2.4
SCID Global X Scientific Beta Europe ETF 8.9 39 -28 6.3 -0.2
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 8.4 58 -47 7.8 +1.3
DFJ WisdomTree Japan SmallCap Dividend Fund 8.4 58 -47 7.8 +1.3
VEA Vanguard FTSE Developed Markets ETF 8.1 5 6 7.3 +0.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 8.0 63 -52 12.6 +6.1
VSGX Vanguard ESG International Stock ETF 7.8 17 -6 7.0 +0.5
IXUS ishares Core MSCI Total International Stock ETF 7.7 9 2 7.3 +0.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 7.6 80 -69 9.9 +3.4
VXUS Vanguard Total International Stock Index Fund 7.4 8 3 7.4 +1.0
IDEV iShares Core MSCI International Developed Markets ETF 7.3 5 6 7.1 +0.6
IEUR iShares Core MSCI Europe ETF 7.2 9 2 7.1 +0.6
VGK Vanguard FTSE Europe ETF 7.1 8 3 7.2 +0.8
EWUS iShares MSCI United Kingdom Small Cap ETF 7.1 59 -48 8.4 +1.9
IEFA iShares Core MSCI EAFE ETF 6.9 7 4 7.1 +0.7
VPL Vanguard FTSE Pacific ETF 6.9 8 3 7.4 +0.9
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 6.8 10 1 9.0 +2.5
VNQI Vanguard Global ex-US Real Estate Index Fund 6.6 12 -1 10.0 +3.5
DFE WisdomTree Europe SmallCap Dividend Fund 6.5 58 -47 8.2 +1.7
IEMG iShares Core MSCI Emerging Markets ETF 6.4 13 -2 7.9 +1.4
FEU SPDR Portfolio Europe ETF 6.3 9 2 7.1 +0.6
VWO Vanguard FTSE Emerging Markets ETF 6.2 10 1 8.1 +1.6
EWC iShares MSCI Canada ETF 6.1 49 -38 6.8 +0.3
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 6.1 58 -47 7.6 +1.1
BBCA JPMorgan BetaBuilders Canada ETF 6.0 19 -8 7.0 +0.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 5.8 29 -18 7.6 +1.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 5.6 59 -48 11.0 +4.5
QCAN SPDR MSCI Canada Quality Mix ETF 5.4 14 -3 7.0 +0.5
WPS iShares International Developed Property ETF 5.4 48 -37 7.6 +1.1
SPDW SPDR Portfolio Developed World ex-US ETF 5.4 4 7 7.0 +0.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 5.2 45 -34 6.5 +0.0
FDT First Trust Developed Markets ex-US Alphadex Fund 5.2 80 -69 7.2 +0.7
GRES IQ Global Resources ETF 4.9 78 -67 6.9 +0.5
IPAC iShares Core MSCI Pacific ETF 4.7 9 2 7.1 +0.6
IFGL iShares International Developed Real Estate ETF 4.6 48 -37 7.4 +0.9
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 4.6 60 -49 7.0 +0.5
DRW WisdomTree Global ex-US Real Estate Fund 4.6 58 -47 10.6 +4.1
ISDX Invesco Strategic Developed ex-US ETF 4.5 23 -12 7.2 +0.7
FEP First Trust Europe AlphaDEX Fund 4.2 80 -69 7.1 +0.7
FCAN First Trust Canada AlphaDex Fund 3.8 80 -69 4.1 -2.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 3.6 35 -24 8.5 +2.0
DWM WisdomTree International Equity Fund 3.5 48 -37 8.2 +1.7
QINT American Century Quality Diversified International ETF 3.5 39 -28 6.0 -0.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 3.5 58 -47 5.8 -0.7
INTF iShares Edge MSCI Multifactor Intl ETF 3.4 30 -19 7.7 +1.2
IGRO iShares International Dividend Growth ETF 3.4 22 -11 7.9 +1.4
AIIQ AI Powered International Equity ETF 3.4 79 -68 3.1 -3.4
ISZE iShares Edge MSCI Intl Size Factor ETF 3.4 30 -19 7.1 +0.6
VIGI Vanguard International Dividend Appreciation ETF 3.4 20 -9 5.5 -1.0
REET iShares Global REIT ETF 3.3 14 -3 7.2 +0.7
VT Vanguard Total World Stock Index Fund 3.2 8 3 6.4 -0.1
EWGS iShares MSCI Germany Small Cap ETF 3.2 59 -48 4.8 -1.7
RWX SPDR Dow Jones International Real Estate ETF 3.2 59 -48 6.5 +0.1
RWO SPDR Dow Jones Global Real Estate ETF 3.2 50 -39 6.8 +0.3
SPEM SPDR Portfolio Emerging Markets ETF 3.1 11 0 8.0 +1.5
GMF SPDR S&P Emerging Asia Pacific ETF 3.1 49 -38 7.4 +0.9
FDEV Fidelity Targeted International Factor ETF 3.1 39 -28 6.3 -0.2
IQDG WisdomTree International Quality Dividend Growth Fund 3.0 42 -31 6.1 -0.3
IFEU iShares Europe Development Real Estate ETF 3.0 48 -37 6.4 -0.1
DTH WisdomTree DEFA Equity Income Fund 2.9 58 -47 9.7 +3.3
DIM WisdomTree International MidCap Dividend Fund 2.9 58 -47 7.4 +1.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.9 35 -24 8.5 +2.0
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 2.9 58 -47 6.0 -0.5
DEM WisdomTree Emerging Markets High Dividend Fund 2.8 63 -52 14.8 +8.3
PDEV Principal International Multi-Factor Core Index ETF 2.7 25 -14 7.7 +1.2
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 2.7 80 -69 18.6 +12.1
RNDM Developed International Equity Select ETF 2.7 65 -54 6.2 -0.3
HAP VanEck Vectors Natural Resources ETF 2.6 50 -39 5.9 -0.5
RING iShares MSCI Global Gold Miners ETF 2.6 39 -28 3.2 -3.3
DXJ WisdomTree Japan Hedged Equity Fund 2.6 48 -37 7.9 +1.4
SMEZ SPDR EURO STOXX Small Cap ETF 2.6 45 -34 5.9 -0.6
SGDM Sprott Gold Miners ETF 2.6 50 -39 2.4 -4.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.5 58 -47 7.7 +1.3
GOEX Global X Gold Explorers ETF 2.5 65 -54 2.9 -3.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 2.4 29 -18 11.4 +4.9
GUNR Flexshares Morningstar Global Upstream Natural Resources 2.4 46 -35 5.6 -0.8
GQRE FlexShares Global Quality Real Estate Index Fund 2.3 45 -34 6.4 -0.1
VIDI Vident International Equity Fund 2.1 59 -48 11.0 +4.5
IDMO Invesco S&P International Developed Momentum ETF 2.1 26 -15 4.5 -2.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.0 25 -14 6.6 +0.1
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.0 70 -59 2.4 -4.1
ACWF iShares FactorSelect MSCI Global ETF 2.0 35 -24 8.0 +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 FTSE All World (ex-US) Small Cap Index Fund
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 7.4 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 11 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.59
 
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.