GraniteShares XOUT U.S. Large Cap ETF
ALTAR
Score™		 5.5% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 22.4x P/Sales
ratio		 3.1x
P/BV
ratio		 5.4x Div.
yield		 1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
XOUT tracks a market-cap weighted index of US large-cap stocks selected based on a proprietary, quantitative scoring methodology excluding potentially underperforming companies.

FUND BASICS
Category US Equities
Fund Sponsor GraniteShares
Website www.graniteshares.com
Inception date Oct 07, 2019
Assets (mns) $76
Currency USD
Expense ratio 60 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 251
Wgt avg mkt cap (mns) $601,651
Large cap (>$10bn) 98.9%
Mid cap ($2-10bn) 1.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 9.2 %
AMAZON.COM INC 8.0 %
MICROSOFT CORP 7.7 %
ALPHABET INC. CLASS A 4.8 %
FACEBOOK 3.5 %
TESLA MOTORS INC 2.0 %
WAL-MART STORES INC 1.9 %
VISA INC-CLASS A SHARES 1.8 %
JOHNSON & JOHNSON 1.8 %
MASTERCARD INC-CLASS A 1.6 %
Total 42.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %
IRELAND 1.6 %
SWITZERLAND 0.2 %
BRITAIN 0.1 %







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.
20.7% -- -- -- 29.9%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $30.86
30d moving avg. $32.50
Annualized volatility 0.0%
Short interest (ETF) 2.7%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 83
Turnover 3.4%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $5,671

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the GraniteShares XOUT U.S. Large Cap ETF ETF based on the alternatives' overlap in portfolio holdings with XOUT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XOUT Expense: 60 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XOUT
Ticker Fund
Name		 Overlap1
vs XOUT
(%)		 Expense
ratio
(bp)		 Savings
vs XOUT
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs XOUT
(%)
VOOG Vanguard S&P 500 Growth ETF 73.4 10 50 6.0 +0.4
IVW iShares S&P 500 Growth ETF 72.6 18 42 5.9 +0.4
IUSG iShares Core S&P US Growth ETF 72.2 4 56 6.0 +0.4
SPYG SPDR Portfolio S&P 500 Growth ETF 72.2 4 56 6.0 +0.5
SPXN ProShares S&P 500 Ex-Financials ETF 71.6 27 33 5.9 +0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 71.5 0 60 6.2 +0.7
IQSU IQ Candriam ESG US Equity ETF 71.5 9 51 6.3 +0.8
IWL iShares Russell Top 200 ETF 71.2 15 45 5.9 +0.4
IWF iShares Russell 1000 Growth ETF 70.5 19 41 5.7 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 70.0 12 48 6.4 +0.9
OEF iShares S&P 100 ETF 69.9 20 40 6.0 +0.5
VONG Vanguard Russell 1000 Growth Index Fund 69.8 8 52 5.8 +0.3
ESGV Vanguard ESG U.S. Stock ETF 69.5 12 48 6.0 +0.5
MGC Vanguard Mega Cap Index Fund 69.4 7 53 6.1 +0.6
VUG Vanguard Growth Index Fund 68.5 4 56 5.7 +0.2
SNPE Xtrackers S&P 500 ESG ETF 67.9 10 50 6.2 +0.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 67.6 20 40 5.8 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 67.1 27 33 6.2 +0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 66.9 20 40 6.2 +0.7
SPY SPDR S&P 500 ETF Trust 66.6 9 51 6.2 +0.7
PBP Invesco S&P 500 BuyWrite ETF 66.5 49 11 5.8 +0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 66.5 60 0 5.8 +0.3
IWY iShares Russell Top 200 Growth ETF 66.1 20 40 6.3 +0.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 66.0 7 53 6.1 +0.6
SPLG SPDR Portfolio Large Cap ETF 66.0 3 57 6.2 +0.7
HSPX Global X S&P 500 Covered Call ETF 65.8 60 0 5.7 +0.2
VOO VANGUARD S&P 500 ETF 65.6 3 57 6.2 +0.7
IVV iShares Core S&P 500 ETF 65.5 3 57 6.3 +0.7
SCHG Schwab U.S. Large-Cap Growth ETF 65.1 4 56 5.7 +0.2
XLG Invesco S&P 500 Top 50 ETF 64.4 20 40 6.0 +0.5
PBUS Invesco PureBeta MSCI USA ETF 64.4 4 56 6.1 +0.6
MGK Vanguard Mega Cap Growth ETF 64.1 7 53 6.3 +0.8
SCHX Schwab U.S. Large-Cap ETF 63.5 3 57 6.1 +0.5
VV Vanguard Large-Cap Index Fund 63.5 4 56 6.0 +0.5
SPTM SPDR Portfolio Total Stock Market ETF 62.4 3 57 6.3 +0.8
SPXV ProShares S&P 500 Ex-Health Care ETF 61.8 27 33 5.9 +0.4
SCHK Schwab 1000 Index ETF 61.6 5 55 6.0 +0.5
ESGU iShares MSCI USA ESG Optimized ETF 61.5 15 45 5.9 +0.4
IWB iShares Russell 1000 ETF 61.4 15 45 5.9 +0.3
IYY iShares Dow Jones U.S. ETF 61.2 20 40 5.9 +0.4
VONE Vanguard Russell 1000 ETF 60.2 8 52 5.9 +0.4
CATH Global X S&P 500 Catholic Values Custom ETF 59.4 29 31 6.1 +0.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 59.2 2 58 6.1 +0.6
ESG FlexShares STOXX US ESG Impact Index Fund 58.9 32 28 5.8 +0.3
VTHR Vanguard Russell 3000 Index Fund 58.8 10 50 5.8 +0.2
EPS WisdomTree U.S. Earnings 500 Fund 58.7 8 52 7.4 +1.8
SCHB Schwab U.S. Broad Market ETF 58.7 3 57 5.9 +0.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 58.5 3 57 5.9 +0.4
SFY SoFi Select 500 ETF 58.3 0 60 5.7 +0.2
TMFC Motley Fool 100 Index ETF 58.3 50 10 5.4 -0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 58.2 9 51 6.3 +0.8
IWV iShares Russell 3000 ETF 57.8 20 40 5.7 +0.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 57.1 49 11 5.8 +0.3
IETC iShares Evolved U.S. Technology ETF 55.6 18 42 6.1 +0.6
VTI Vanguard Total Stock Market Index Fund 55.6 3 57 5.8 +0.3
IGM iShares Expanded Tech Sector ETF 54.7 46 14 5.5 -0.1
QYLD Global X NASDAQ 100 Covered Call ETF 54.3 60 0 5.6 +0.0
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 54.3 60 0 5.5 0.0
QQQ Invesco QQQ Trust 54.3 20 40 6.0 +0.4
NUSI Nationwide Risk-Managed Income ETF 54.2 68 -8 5.5 0.0
DSI iShares MSCI KLD 400 Social ETF 54.0 25 35 5.2 -0.3
SPXT ProShares S&P 500 Ex-Technology ETF 53.0 27 33 5.7 +0.2
JHML John Hancock Multifactor Large Cap ETF 52.7 29 31 6.1 +0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 52.4 15 45 7.2 +1.6
EXT WisdomTree U.S. Total Earnings Fund 51.8 28 32 6.3 +0.7
HIPR Direxion High Growth ETF 51.3 40 20 7.1 +1.5
RECS Columbia Research Enhanced Core ETF 51.2 15 45 6.7 +1.2
QUS SPDR MSCI USA StrategicFactors ETF 49.7 15 45 6.3 +0.8
NACP Impact Shares NAACP Minority Empowerment ETF 49.5 75 -15 5.8 +0.3
SUSL iShares ESG MSCI USA Leaders ETF 49.3 10 50 5.4 -0.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 49.3 10 50 5.4 -0.1
WOMN Impact Shares YWCA Women's Empowerment ETF 49.2 75 -15 5.3 -0.2
AVUS Avantis U.S. Equity ETF 48.8 15 45 6.3 +0.8
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 48.5 75 -15 4.2 -1.3
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 48.3 21 39 3.6 -1.9
VEGN US Vegan Climate ETF 48.0 60 0 5.9 +0.4
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 47.8 19 41 6.9 +1.4
IUS Invesco Strategic US ETF 47.6 19 41 7.2 +1.7
AFLG First Trust Active Factor Large Cap ETF 47.4 55 5 6.5 +1.0
DIVB iShares U.S. Dividend & Buyback ETF 47.3 25 35 7.4 +1.8
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 46.4 12 48 5.2 -0.4
SPQQ Siren Large Cap Blend Index ETF 46.0 20 40 5.3 -0.2
TOK iShares MSCI Kokusai ETF 45.8 25 35 6.1 +0.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 45.8 30 30 6.8 +1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 45.6 25 35 7.5 +2.0
DLN WisdomTree U.S. LargeCap Dividend Fund 45.1 28 32 7.2 +1.7
JQUA JPMorgan U.S. Quality Factor ETF 45.0 12 48 5.8 +0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 44.8 25 35 7.0 +1.5
ESGG FlexShares STOXX Global ESG Impact Index Fund 44.8 42 18 6.1 +0.6
STLG iShares Factors US Growth Style ETF 44.8 25 35 6.3 +0.8
FDMO Fidelity Momentum Factor ETF 44.6 29 31 4.3 -1.3
FQAL Fidelity Quality Factor ETF 44.2 29 31 6.4 +0.8
SYG SPDR MFS Systematic Growth Equity ETF 43.9 60 0 5.5 +0.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 43.3 25 35 7.5 +2.0
DTD WisdomTree U.S.Total Dividend Fund 43.1 28 32 7.4 +1.8
FVAL Fidelity Value Factor ETF 43.0 29 31 8.7 +3.2
KRMA Global X Conscious Companies ETF 42.5 43 17 6.0 +0.5
GBGR Global Beta Momentum-Growth ETF 42.4 29 31 4.5 -1.0
SFYF SoFi 50 ETF 42.0 29 31 2.8 -2.7
PRF Invesco FTSE RAFI US 1000 ETF 41.9 39 21 7.5 +1.9

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:		 GraniteShares XOUT U.S. Large Cap 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 28.6 %
Divided by: Fwd. P/BV 4.7 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.40 CATEGORY
AVERAGE		 1.51
 
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.