Vident Core US Equity Fund
ALTAR
Score™
7.4% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
17.4x P/Sales
ratio
0.8x
P/BV
ratio
1.9x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vident Core US Equity ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the price and total return performance, before fees and expenses, of the Vident Core U.S. Equity Index.

FUND BASICS
Category US Equities
Fund Sponsor Exchange Traded Concepts LLC
Website www.exchangetradedconcepts.com
Inception date Jan 22, 2014
Assets (mns) $381
Currency USD
Expense ratio 48 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 228
Wgt avg mkt cap (mns) $32,280
Large cap (>$10bn) 39.8%
Mid cap ($2-10bn) 49.3%
Small cap (<$2bn) 9.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CERENCE INC 1.2 %
BUILDERS FIRSTSOURCE INC 1.1 %
DARLING INTERNATIONAL INC 0.9 %
MICHAELS COMPANIES INC 0.8 %
OFFICE DEPOT INC 0.8 %
GENERAL MOTORS CO 0.8 %
AMC NETWORKS INC-A 0.8 %
QUANTA SERVICES INC 0.7 %
NUANCE COMMUNICATIONS INC 0.7 %
FIRST SOLAR INC 0.7 %
Total 8.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
6.7% 6.7% 8.6% -- 7.0%

Market Correlations
versus... Beta R-squared
S&P500 1.27 92%
MSCI EAFE 1.23 85%
MSCI Emg. Mkts. 1.01 73%

Technical Indicators
Recent close $37.31
30d moving avg. $35.71
Annualized volatility 24.8%
Short interest (ETF) 0.6%
Short interest (Underlying) 5.9%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 23
Turnover 0.2%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $43,733

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Vident Core US Equity Fund ETF based on the alternatives' overlap in portfolio holdings with VUSE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VUSE Expense: 48 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VUSE
Ticker Fund
Name
Overlap1
vs VUSE
(%)
Expense
ratio
(bp)
Savings
vs VUSE
(bp)
ALTAR
Score™
(%)
ALTAR
vs VUSE
(%)
VFVA Vanguard U.S. Value Factor ETF 30.4 14 34 8.5 +1.1
FAB First Trust Multi Cap Value AlphaDEX Fund 30.4 71 -23 7.6 +0.2
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 27.2 20 28 6.6 -0.8
JVAL JPMorgan U.S. Value Factor ETF 26.8 12 36 7.1 -0.2
VALQ American Century STOXX U.S. Quality Value ETF 26.6 29 19 7.8 +0.4
ROUS Hartford Multifactor US Equity ETF 26.6 19 29 5.8 -1.5
AFMC First Trust Active Factor Mid Cap ETF 25.1 65 -17 5.2 -2.1
VFMF Vanguard U.S. Multifactor ETF 24.5 19 29 6.1 -1.2
ONEO SPDR Russell 1000 Momentum Focus ETF 23.6 20 28 5.6 -1.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 23.6 17 31 6.1 -1.3
ONEV SPDR Russell 1000 Low Volatility Focus ETF 23.5 20 28 6.2 -1.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 23.5 30 18 6.1 -1.3
FNK First Trust Mid Cap Value AlphaDEX Fund 23.3 70 -22 7.8 +0.4
JPUS JPMorgan Diversified Return U.S. Equity ETF 23.2 18 30 5.6 -1.8
AFLG First Trust Active Factor Large Cap ETF 22.6 55 -7 4.7 -2.7
USMF WisdomTree U.S. Multifactor Fund 22.5 28 20 5.4 -2.0
VLUE iShares MSCI USA Value Factor ETF 22.5 15 33 9.8 +2.4
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 22.5 17 31 5.7 -1.7
IUS Invesco Strategic US ETF 22.4 19 29 5.5 -1.9
FTA First Trust Large Cap Value AlphaDEX Fund 22.2 60 -12 7.4 -0.0
RWK Invesco S&P MidCap 400 Revenue ETF 22.0 39 9 6.4 -1.0
TUSA First Trust Total US Market AlphaDEX ETF 21.8 70 -22 4.8 -2.6
RESP WisdomTree US ESG Fund of Benef Interest 21.8 28 20 5.0 -2.3
FVAL Fidelity Value Factor ETF 21.5 29 19 6.8 -0.6
FEX First Trust Large Cap Core AlphaDEX Fund 21.2 60 -12 4.7 -2.7
COWZ Pacer US Cash Cows 100 ETF 20.9 49 -1 10.1 +2.8
VLU SPDR S&P 1500 Value Tilt ETF 20.9 12 36 6.2 -1.2
STLV iShares Factors US Value Style ETF 20.9 25 23 6.5 -0.9
ONEY SPDR Russell 1000 Yield Focus ETF 20.8 20 28 7.3 -0.1
FNX First Trust Mid Cap Core AlphaDEX Fund 20.7 61 -13 5.1 -2.3
PRF Invesco FTSE RAFI US 1000 ETF 20.6 39 9 5.7 -1.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 20.4 25 23 5.7 -1.6
SPVM Invesco S&P 500 Value with Momentum ETF 20.3 39 9 7.8 +0.4
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 20.2 20 28 0.0 -7.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 20.1 25 23 5.7 -1.7
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 19.9 29 19 7.3 -0.0
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 19.9 24 24 5.5 -1.9
EZM WisdomTree U.S. MidCap Earnings Fund 19.8 38 10 7.6 +0.2
RWL Invesco S&P 500 Revenue ETF 19.6 39 9 6.3 -1.1
MDYV SPDR S&P 400 Mid Cap Value ETF 19.4 15 33 7.0 -0.4
IJJ iShares S&P Mid-Cap 400 Value ETF 19.3 18 30 7.0 -0.4
LRGF iShares Edge MSCI Multifactor USA ETF 19.1 20 28 6.1 -1.3
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 19.0 35 13 5.1 -2.3
AVUV Avantis U.S. Small Cap Value ETF 19.0 25 23 6.4 -1.0
CFA VictoryShares US 500 Volatility Weighted Index ETF 18.8 35 13 5.1 -2.3
PY Principal Shareholder Yield Index ETF 18.6 15 33 7.8 +0.4
RNLC Large Cap US Equity Select ETF 18.6 60 -12 5.2 -2.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 18.5 30 18 5.1 -2.3
RPV Invesco S&P 500 Pure Value ETF 18.4 35 13 10.0 +2.6
VBR Vanguard Small Cap Value Index Fund 18.4 7 41 6.5 -0.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 18.3 30 18 5.3 -2.1
QSY WisdomTree U.S. LargeCap Value Fund 18.2 38 10 6.7 -0.7
RSP Invesco S&P 500 Equal Weight ETF 18.1 20 28 5.6 -1.7
STMB iShares Factors US Mid Blend Style ETF 18.1 30 18 5.0 -2.4
SYLD Cambria Shareholder Yield ETF 18.0 59 -11 6.7 -0.6
JDIV JPMorgan U.S. Dividend ETF 17.9 12 36 6.7 -0.6
EPS WisdomTree U.S. Earnings 500 Fund 17.8 8 40 5.9 -1.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 17.7 29 19 6.0 -1.3
JKL iShares Morningstar Small Cap Value ETF 17.6 30 18 7.6 +0.3
STLC iShares Factors US Blend Style ETF 17.6 25 23 4.8 -2.6
FSMD Fidelity Small-Mid Factor ETF 17.5 29 19 5.3 -2.1
VTV Vanguard Value Index Fund 17.4 4 44 6.6 -0.8
AVUS Avantis U.S. Equity ETF 17.4 15 33 4.8 -2.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 17.3 15 33 6.7 -0.6
RVRS Reverse Cap Weighted U.S. Large Cap ETF 17.2 29 19 6.2 -1.2
VOOV Vanguard S&P 500 Value ETF 16.9 10 38 6.6 -0.8
EWMC Invesco S&P MidCap 400 Equal Weight ETF 16.9 40 8 5.7 -1.7
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 16.8 24 24 4.9 -2.5
VONV Vanguard Russell 1000 Value Index Fund 16.8 8 40 6.2 -1.2
EQAL Invesco Russell 1000 Equal Weight ETF 16.7 20 28 5.1 -2.3
AUSF Global X Adaptive U.S. Factor ETF 16.7 27 21 8.0 +0.6
JHML John Hancock Multifactor Large Cap ETF 16.5 29 19 4.9 -2.5
REVS Columbia Research Enhanced Value ETF 16.5 19 29 6.7 -0.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 16.5 19 29 5.3 -2.1
RNMC Mid Cap US Equity Select ETF 16.4 60 -12 6.1 -1.3
SIXL 6 Meridian Low Beta Equity Strategy ETF 16.4 84 -36 4.0 -3.4
IUSV iShares Core S&P U.S. Value ETF 16.3 4 44 6.5 -0.9
SMDY Syntax Stratified MidCap ETF 16.3 30 18 5.2 -2.2
RFV Invesco S&P Midcap 400 Pure Value ETF 16.3 35 13 8.9 +1.6
IWD iShares Russell 1000 Value ETF 16.2 19 29 6.1 -1.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 16.1 9 39 4.8 -2.6
SPVU Invesco S&P 500 Enhanced Value ETF 16.1 13 35 9.6 +2.2
BFOR Barron's 400 ETF 16.0 65 -17 5.6 -1.8
VAMO Cambria Value & Momentum ETF 16.0 63 -15 5.3 -2.1
ROSC Hartford Multifactor Small Cap ETF 16.0 34 14 6.5 -0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 15.9 25 23 4.9 -2.5
IWS iShares Russell Mid-Cap Value ETF 15.9 24 24 6.0 -1.4
ESGV Vanguard ESG U.S. Stock ETF 15.8 12 36 4.5 -2.9
KRMA Global X Conscious Companies ETF 15.6 43 5 4.8 -2.5
JHMM John Hancock Multifactor Mid Cap ETF 15.6 42 6 4.7 -2.6
RAFE PIMCO RAFI ESG U.S. ETF 15.6 30 18 6.7 -0.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 15.6 35 13 5.1 -2.3
XMVM Invesco S&P MidCap Value with Momentum ETF 15.6 39 9 8.1 +0.7
JKI iShares Morningstar Mid-Cap Value ETF 15.5 30 18 7.7 +0.3
VOE Vanguard Mid-Cap Value Index Fund 15.5 7 41 6.7 -0.7
SPYV SPDR Portfolio S&P 500 Value ETF 15.4 4 44 6.5 -0.9
SIZE iShares MSCI USA Size Factor ETF 15.4 15 33 5.2 -2.2

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:
Vident Core US Equity Fund
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 13.2 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.49
 
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.