PORTFOLIO ANALYSIS

SAMPLE: Global Equity



  • Holdings
  • Composition
  • Performance
  • Fundamentals
  • Investment Merit
MODEL

Ticker Name Price Weight Shares
BLDRs Europe 100 ADR $22.0600 30.0% 1,360
iShares Morningstar Large Value $117.5630 25.0% 213
Schwab Emerging Markets Equity $28.1900 20.0% 709
iShares S&P Global Technology $221.9700 10.0% 45
iShares Global Industrials $99.8860 5.0% 50
Invesco Global Shipping $9.7400 5.0% 513

BENCHMARK

Ticker Name Price Weight Shares
iShares MSCI ACWI $81.3100 100.0% 1,230


  • Geographic
  • Sector
  • Market Cap
  • Underlying Securities
MODEL
 
DEVELOPED/EMG. MKTS. 79%/21%
 
UNITED STATES 34.9%
BRITAIN 14.6%
CHINA 6.9%
SWITZERLAND 4.1%
NETHERLANDS 3.3%
FRANCE 3.0%
TAIWAN 2.9%
GERMANY 2.2%
JAPAN 2.1%
INDIA 2.0%
BENCHMARK
 
DEVELOPED/EMG. MKTS. 90%/10%
 
UNITED STATES 53.7%
JAPAN 7.0%
BRITAIN 5.2%
CHINA 3.6%
SWITZERLAND 3.1%
CANADA 3.0%
FRANCE 3.0%
GERMANY 2.5%
AUSTRALIA 2.0%
HONG KONG 1.6%
Model
Benchmark
Variation: Model vs. Benchmark
Energy+5.5%
Industrials+2.0%
Staples+1.8%
Telecom+1.6%
Financials+0.9%
Technology+0.8%
Health Care-0.3%
Utilities-0.6%
Materials-0.8%
Cons. Discr.-8.3%

BENCHMARK

ROYAL AHOLD DELHAIZE N.V. 6.6%
NOVARTIS AG-REG 2.2%
ANHEUSER-BUSCH INBEV SA/NV 1.8%
HSBC HOLDINGS PLC 1.5%
JPMORGAN CHASE & CO 1.4%
BERKSHIRE HATHAWAY INC-CL B 1.4%
TENCENT HOLDINGS LTD 1.4%
CISCO SYSTEMS INC 1.3%
ROYAL DUTCH SHELL PLC-A SHS 1.3%
SAP AG 1.2%
DOW CHEMICAL 1.2%
TOTAL SA 1.2%
BP PLC 1.1%
EXXON MOBIL CORP 1.1%
INTEL CORP 1.1%
MICROSOFT CORP 1.1%
TAIWAN SEMICONDUCTOR MANUFAC 1.1%
APPLE INC 1.1%
ROYAL DUTCH SHELL PLC-B SHS 1.1%
PROCTER & GAMBLE CO/THE 1.0%
BENCHMARK

ROYAL AHOLD DELHAIZE N.V. 9.1%
APPLE INC 2.1%
MICROSOFT CORP 2.0%
AMAZON.COM INC 1.5%
FACEBOOK 0.9%
JPMORGAN CHASE & CO 0.8%
ALPHABET INC. CLASS C 0.8%
ALPHABET INC. CLASS A 0.7%
VISA INC-CLASS A SHARES 0.7%
JOHNSON & JOHNSON 0.7%
NESTLE SA-REG 0.6%
DOW CHEMICAL 0.6%
BANK OF AMERICA CORP 0.6%
EXXON MOBIL CORP 0.6%
TENCENT HOLDINGS LTD 0.6%
CISCO SYSTEMS INC 0.5%
HOME DEPOT INC 0.5%
PROCTER & GAMBLE CO/THE 0.5%
PFIZER INC 0.5%
FUJITSU LTD 0.5%

hidden text

Relative performance*
*Note: Total returns, rebalanced monthly. Rebased at start to $100. History only as far back as youngest fund in either portfolio. Weights in each portfolio must also sum to 100%.

MODEL

Ticker Inception Date YTD 1 YR 5 YRS 10 YRS Since
Incep.
ADRU Nov 13, 2002 19.0% 19.0% 3.2% 4.0% 7.5%
JKF Jul 02, 2004 25.2% 25.2% 9.4% 11.2% 7.5%
SCHE Jan 13, 2010 20.2% 20.2% 5.4% -- 4.2%
IXN Nov 16, 2001 47.8% 47.8% 18.5% 15.3% 8.5%
EXI Sep 15, 2006 27.1% 27.1% 8.6% 10.2% 6.9%
SEA Aug 25, 2008 28.9% 28.9% -6.2% -- -5.0%

 

BENCHMARK

Ticker Inception Date YTD 1 YR 5 YRS 10 YRS Since
Incep.
ACWI Mar 28, 2008 26.5% 26.5% 8.7% 8.9% 6.3%
MODEL RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales 65,009 57,370 56,729 59,177 64,644 65,515 68,292
Earnings 5,409 5,428 4,621 5,624 6,126 6,387 7,172
Dividends 2,765 2,941 2,854 2,930 3,130 3,204 3,440
Book value 44,283 47,178 46,547 48,573 50,481 53,518 57,097


BENCHMARK RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales 49,442 48,259 48,757 51,970 56,342 58,650 61,270
Earnings 4,275 4,301 4,271 4,935 5,474 5,494 6,064
Dividends 1,791 1,873 1,922 2,073 2,209 2,326 2,481
Book value 31,916 33,540 34,862 37,416 39,336 42,452 45,994


Return on equity

Trends in estimate revisions*
*Note: Six months ago = 100

Net margins

Compound annual growth rates

ALTAR™ SCORE

  Model Benchmark
Avg. Return on Equity 11.6 % 13.4 %
Divided by: P/BV 1.9 x 2.4 x
Less: Expense ratio 28 bp 31 bp
Equals: ALTAR Score 5.9 % 5.4 %

VALUATION METRICS


2018A
2019E
2020E

  Model Benchmark Prem/Disc.
Price-to-earnings 15.7x 18.2x -14.0%
Price-to-sales 1.5x 1.7x -10.5%
Price-to-book value 1.9x 2.4x -20.7%
Yield 3.2% 2.3% 37.7%

ANNUAL INCOME

  Model Benchmark Difference
Est. dividends $3,204 $2,326 $878
Less: fund expenses $281 $310 $-29
 weighted avg expense ratio 28.1 bp 31.0 bp -2.9 bp
Expected income $2,923 $2,016 $907

Note: based on the nominal portfolio size you entered of $100,000.