Vanguard High Dividend Yield ETF
ALTAR
Score™
7.2% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.3x P/Sales
ratio
1.7x
P/BV
ratio
2.4x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard High Dividend Yield ETF seeks to track the performance of the FTSE High Dividend Yield Index, which consists of common stocks of companies that pay dividends that generally are higher than average.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Nov 16, 2006
Assets (mns) $29,121
Currency USD
Expense ratio 6 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 406
Wgt avg mkt cap (mns) $150,318
Large cap (>$10bn) 92.6%
Mid cap ($2-10bn) 6.4%
Small cap (<$2bn) 0.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JPMORGAN CHASE & CO 4.0 %
JOHNSON & JOHNSON 3.5 %
PROCTER & GAMBLE CO/THE 2.9 %
EXXON MOBIL CORP 2.8 %
AT&T INC 2.6 %
VERIZON COMMUNICATIONS INC 2.4 %
INTEL CORP 2.4 %
MERCK & CO. INC. 2.1 %
CHEVRON CORP 2.1 %
WELLS FARGO & CO 2.0 %
Total 26.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
BRITAIN 1.5 %
IRELAND 0.8 %
SWITZERLAND 0.8 %
BERMUDA 0.1 %
PUERTO RICO 0.1 %
BRAZIL 0.0 %
NETHERLANDS 0.0 %
LUXEMBOURG 0.0 %
PANAMA 0.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.5% 10.0% 8.9% 12.6% 7.9%

Market Correlations
versus... Beta R-squared
S&P500 0.88 91%
MSCI EAFE 0.81 65%
MSCI Emg. Mkts. 0.56 48%

Technical Indicators
Recent close $92.24
30d moving avg. $90.89
Annualized volatility 11.2%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.2%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1,411
Turnover 0.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $55,269

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard High Dividend Yield ETF ETF based on the alternatives' overlap in portfolio holdings with VYM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VYM Expense: 6 bp ALTAR Score™: 7.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VYM
Ticker Fund
Name
Overlap1
vs VYM
(%)
Expense
ratio
(bp)
Savings
vs VYM
(bp)
ALTAR
Score™
(%)
ALTAR
vs VYM
(%)
OYLD Invesco Russell 1000 Yield Factor ETF 77.7 19 -13 7.0 -0.2
SCHV Schwab U.S. Large-Cap Value 67.3 4 2 6.9 -0.3
MGV Vanguard Mega Cap 300 Value 67.2 7 -1 7.0 -0.2
USDY Pacific Global US Equity Income 65.2 29 -23 7.4 +0.2
VTV Vanguard Value ETF 63.4 4 2 7.1 -0.0
DLN WisdomTree Large Cap Dividend 61.4 28 -22 6.5 -0.7
IWX iShares Russell Top 200 Value 59.1 20 -14 6.9 -0.3
DTD WisdomTree Total Dividend 58.3 28 -22 6.5 -0.6
DGRO iShares Core Dividend Growth 57.7 8 -2 6.4 -0.8
OUSA O'Shares FTSE U.S. Quality Dividend 55.7 48 -42 5.9 -1.3
IWD iShares Russell 1000 Value 54.4 19 -13 6.9 -0.3
VONV Vanguard Russell 1000 Value 54.4 12 -6 7.0 -0.2
JKF iShares Morningstar Large Value 53.7 25 -19 7.7 +0.5
DHS WisdomTree Equity Income 50.8 38 -32 7.2 -0.0
PFM Invesco Dividend Achievers 50.5 54 -48 5.4 -1.8
DIVB iShares U.S. Dividend & Buyback 49.9 25 -19 6.6 -0.6
PRF Invesco FTSE-RAFI U.S. 1000 49.8 39 -33 6.5 -0.7
IVE iShares S&P 500 Value 49.5 18 -12 6.9 -0.3
SPYV SPDR Portfolio S&P 500 Value 49.4 4 2 7.0 -0.1
VOOV Vanguard S&P 500 Value 49.3 15 -9 7.0 -0.2

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Vanguard High Dividend Yield ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.1 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 6 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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