ClearBridge Dividend Strategy ESG
ALTAR
Score™
4.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
19.2x P/Sales
ratio
2.6x
P/BV
ratio
3.2x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The ClearBridge Dividend Strategy ESG ETF is an actively managed fund that seeks income, growth of income, and long-term capital appreciation. The fund focuses on global large-cap stocks with attractive dividends and positive ESG attributes.


FUND BASICS
Category US Equities
Fund Sponsor Legg Mason
Website www.leggmason.com
Inception date May 22, 2017
Assets (mns) $6
Currency USD
Expense ratio 60 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 52
Wgt avg mkt cap (mns) $205,838
Large cap (>$10bn) 97.1%
Mid cap ($2-10bn) 2.2%
Small cap (<$2bn) 0.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 4.0 %
HOME DEPOT INC 3.4 %
COMCAST CORP-CL A 2.9 %
BANK OF AMERICA CORP 2.9 %
APPLE INC 2.8 %
WALT DISNEY CO/THE 2.8 %
VISA INC-CLASS A SHARES 2.6 %
MERCK & CO. INC. 2.6 %
UNITED PARCEL SERVICE-CL B 2.5 %
PROCTER & GAMBLE CO/THE 2.5 %
Total 29.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 85.8 %
BRITAIN 3.5 %
SWITZERLAND 2.3 %
BERMUDA 2.1 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.8% 16.3% -- -- 11.1%

Market Correlations
versus... Beta R-squared
S&P500 0.81 92%
MSCI EAFE 0.79 67%
MSCI Emg. Mkts. 0.54 51%

Technical Indicators
Recent close $31.80
30d moving avg. $31.53
Annualized volatility 11.2%
Short interest (ETF) 1.4%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $31,338

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: YLDE Expense: 60 bp ALTAR Score™: 4.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH YLDE
Ticker Fund
Name
Overlap1
vs YLDE
(%)
Expense
ratio
(bp)
Savings
vs YLDE
(bp)
ALTAR
Score™
(%)
ALTAR
vs YLDE
(%)
DGRO iShares Core Dividend Growth 35.5 8 52 6.4 +1.8
OEF iShares S&P 100 34.6 20 40 5.5 +0.9
OVOL Invesco Russell 1000 Low Volatility Factor ETF 34.3 19 41 5.6 +1.0
USMC Principal U.S. Mega-Cap Multi-Factor Index 33.9 12 48 5.7 +1.1
XLG Invesco S&P Top 50 33.0 20 40 5.2 +0.5
DLN WisdomTree Large Cap Dividend 31.9 28 32 6.5 +1.9
LRGE ClearBridge Large Cap Growth ESG 31.8 60 0 4.3 -0.4
IWL iShares Russell Top 200 31.5 15 45 5.7 +1.0
USSG Xtrackers MSCI USA ESG Leaders Equity 30.6 10 50 5.8 +1.1
RECS Columbia Research Enhanced Core 30.6 15 45 5.9 +1.2
SUSL iShares ESG MSCI USA Leaders 30.6 10 50 5.8 +1.1
SNPE Xtrackers S&P 500 ESG 30.6 11 49 5.8 +1.1
MGC Vanguard Mega Cap 300 ETF 30.5 7 53 5.8 +1.2
EQWL Invesco Fundamental Pure Large Core 30.5 25 35 6.4 +1.8
WOMN Impact Shares YWCA Women's Empowerment 30.4 75 -15 5.5 +0.8
FDRR Fidelity Dividend for Rising Rates 30.4 29 31 7.8 +3.2
EDOW First Trust Dow 30 Equal Weight 30.3 50 10 6.2 +1.5
JUST Goldman Sachs JUST U.S. Large Cap Equity 29.8 20 40 5.6 +1.0
OMOM Invesco Russell 1000 Momentum Factor ETF 29.6 19 41 5.3 +0.6
JKD iShares Morningstar Large Companies 29.5 20 40 5.8 +1.1

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

Content on this tab for subscribers only

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:
ClearBridge Dividend Strategy ESG
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 15.7 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.55
 
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.