Vanguard International High Dividend Yield ETF
ALTAR
Score™
9.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
10.4x P/Sales
ratio
0.9x
P/BV
ratio
1.1x Div.
yield
5.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Vanguard International High Dividend Yield ETF tracks a market-cap-weighted index of developed and emerging market firms (ex-US) that are expected to pay above average dividends over the next 12 months.

FUND BASICS
Category International Equities
Fund Sponsor Vanguard
Website personal.vanguard.com
Inception date Feb 25, 2016
Assets (mns) $1,382
Currency USD
Expense ratio 32 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 969
Wgt avg mkt cap (mns) $65,145
Large cap (>$10bn) 83.4%
Mid cap ($2-10bn) 15.1%
Small cap (<$2bn) 1.0%
Developed mkts 77.7%
Emerging mkts 21.4%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 2.6 %
TOYOTA MOTOR CORP 1.7 %
HSBC HOLDINGS PLC 1.5 %
ASTRAZENECA PLC 1.3 %
ROYAL BANK OF CANADA 1.2 %
BP PLC 1.2 %
TOTAL SA 1.2 %
ROYAL DUTCH SHELL PLC-A SHS 1.1 %
SANOFI-AVENTIS 1.1 %
GLAXOSMITHKLINE PLC 1.1 %
Total 14.0 %

TOP COUNTRY EXPOSURE
BRITAIN 16.4 %
JAPAN 10.2 %
AUSTRALIA 7.5 %
GERMANY 7.5 %
CANADA 7.2 %
FRANCE 6.4 %
TAIWAN 5.9 %
CHINA 3.9 %
SWITZERLAND 3.7 %
HONG KONG 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.2% 5.9% -- -- 7.6%

Market Correlations
versus... Beta R-squared
S&P500 0.73 58%
MSCI EAFE 1.01 91%
MSCI Emg. Mkts. 0.73 84%

Technical Indicators
Recent close $58.45
30d moving avg. $62.45
Annualized volatility 11.6%
Short interest (ETF) 0.1%
Relative strength (RSI) 30

Liquidity measures
Avg. volume (thou.) 157
Turnover 0.7%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $28,644

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the Vanguard International High Dividend Yield ETF ETF based on the alternatives' overlap in portfolio holdings with VYMI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VYMI Expense: 32 bp ALTAR Score™: 9.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VYMI
Ticker Fund
Name
Overlap1
vs VYMI
(%)
Expense
ratio
(bp)
Savings
vs VYMI
(bp)
ALTAR
Score™
(%)
ALTAR
vs VYMI
(%)
EFV iShares MSCI EAFE Value ETF 56.0 39 -7 9.6 -0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 54.9 45 -13 8.6 -1.1
DTH WisdomTree DEFA Equity Income Fund 52.2 58 -26 9.2 -0.6
FNDF Schwab Fundamental International Large Co. Index ETF 51.4 25 7 8.8 -0.9
IDY Pacific Global International Equity Income ETF 50.7 39 -7 8.8 -0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 50.7 35 -3 8.3 -1.5
DOL WisdomTree International LargeCap Dividend Fund 50.1 48 -16 8.2 -1.5
DWM WisdomTree International Equity Fund 50.1 48 -16 8.1 -1.6
FLEE Franklin FTSE Europe ETF 47.4 9 23 7.2 -2.6
FLEH Franklin FTSE Europe Hedged ETF 47.2 9 23 7.0 -2.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 47.2 30 2 6.9 -2.9
BBEU JPMorgan BetaBuilders Europe ETF 45.5 9 23 7.2 -2.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 45.1 45 -13 6.7 -3.1
EFA iShares MSCI EAFE ETF 45.0 32 0 7.2 -2.5
IEV iShares Europe ETF 44.7 59 -27 6.7 -3.0
VGK Vanguard FTSE Europe ETF 44.5 8 24 7.3 -2.5
IQSI IQ Candriam ESG International Equity ETF 44.2 15 17 7.2 -2.6
SCHF Schwab International Equity ETF 43.7 6 26 7.6 -2.1
HFXI IQ 50 Percent Hedged FTSE International ETF 43.6 20 12 7.5 -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:
Vanguard International High Dividend Yield ETF
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 10.8 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 9.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.64
 
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.