PORTFOLIO ANALYSIS

SAMPLE: Global Equity



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

Ticker Name Price Weight Shares
BLDRs Europe 100 ADR $20.3050 30.0% 1,477
iShares Morningstar Large Value $110.2122 25.0% 227
Schwab Emerging Markets Equity $25.8500 20.0% 774
iShares S&P Global Technology $186.5900 10.0% 54
iShares Global Industrials $91.7046 5.0% 55
Invesco Global Shipping $9.4900 5.0% 527

BENCHMARK

Ticker Name Price Weight Shares
iShares MSCI ACWI $74.4600 100.0% 1,343


  • Geographic
  • Sector
  • Market Cap
  • Underlying Securities
MODEL
 
DEVELOPED/EMG. MKTS. 79%/21%
 
UNITED STATES 34.1%
BRITAIN 14.9%
CHINA 6.3%
SWITZERLAND 4.0%
NETHERLANDS 3.3%
FRANCE 3.1%
TAIWAN 2.9%
JAPAN 2.2%
GERMANY 2.2%
INDIA 2.2%
BENCHMARK
 
DEVELOPED/EMG. MKTS. 90%/10%
 
UNITED STATES 53.0%
JAPAN 7.3%
BRITAIN 5.4%
SWITZERLAND 3.1%
CHINA 3.1%
FRANCE 3.0%
CANADA 3.0%
GERMANY 2.6%
AUSTRALIA 2.0%
HONG KONG 1.7%
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. 7.2%
NOVARTIS AG-REG 2.4%
ANHEUSER-BUSCH INBEV SA/NV 1.9%
HSBC HOLDINGS PLC 1.6%
TENCENT HOLDINGS LTD 1.6%
JPMORGAN CHASE & CO 1.5%
BERKSHIRE HATHAWAY INC-CL B 1.5%
CISCO SYSTEMS INC 1.4%
ROYAL DUTCH SHELL PLC-A SHS 1.4%
SAP AG 1.4%
TOTAL SA 1.3%
DOW CHEMICAL 1.3%
MICROSOFT CORP 1.3%
APPLE INC 1.3%
BP PLC 1.2%
EXXON MOBIL CORP 1.2%
INTEL CORP 1.2%
TAIWAN SEMICONDUCTOR MANUFAC 1.2%
ROYAL DUTCH SHELL PLC-B SHS 1.2%
PROCTER & GAMBLE CO/THE 1.1%
BENCHMARK

ROYAL AHOLD DELHAIZE N.V. 9.9%
APPLE INC 2.3%
MICROSOFT CORP 2.2%
AMAZON.COM INC 1.6%
FACEBOOK 1.0%
JPMORGAN CHASE & CO 0.9%
ALPHABET INC. CLASS C 0.8%
ALPHABET INC. CLASS A 0.8%
VISA INC-CLASS A SHARES 0.8%
JOHNSON & JOHNSON 0.7%
NESTLE SA-REG 0.7%
DOW CHEMICAL 0.7%
BANK OF AMERICA CORP 0.7%
EXXON MOBIL CORP 0.6%
TENCENT HOLDINGS LTD 0.6%
CISCO SYSTEMS INC 0.6%
PROCTER & GAMBLE CO/THE 0.6%
HOME DEPOT INC 0.6%
PFIZER INC 0.5%
FUJITSU LTD 0.5%

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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 10.7% -2.7% 0.3% 3.4% 7.1%
JKF Jul 02, 2004 17.1% 5.9% 8.5% 10.8% 7.2%
SCHE Jan 13, 2010 7.5% 1.0% 2.4% -- 3.1%
IXN Nov 16, 2001 29.2% 6.9% 16.4% 14.6% 7.8%
EXI Sep 15, 2006 18.6% -0.5% 7.4% 9.8% 6.4%
SEA Aug 25, 2008 10.2% -11.5% -11.0% -- -6.7%

 

BENCHMARK

Ticker Inception Date YTD 1 YR 5 YRS 10 YRS Since
Incep.
ACWI Mar 28, 2008 16.4% 1.5% 6.9% 8.4% 5.6%
MODEL RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales 69,868 62,224 61,160 64,090 69,632 71,014 74,131
Earnings 5,786 5,857 5,039 6,083 6,561 7,003 7,846
Dividends 2,906 3,086 3,001 3,098 3,311 3,418 3,629
Book value 47,470 49,908 49,101 51,299 53,362 56,753 60,810


BENCHMARK RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales 54,064 52,838 53,195 56,625 61,306 63,638 66,696
Earnings 4,696 4,726 4,669 5,428 5,999 6,077 6,699
Dividends 1,945 2,042 2,091 2,252 2,398 2,522 2,681
Book value 35,316 37,100 38,409 41,197 43,112 46,617 50,593


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 11.9 % 13.4 %
Divided by: P/BV 1.8 x 2.1 x
Less: Expense ratio 28 bp 31 bp
Equals: ALTAR Score 6.5 % 5.9 %

VALUATION METRICS


2018A
2019E
2020E

  Model Benchmark Prem/Disc.
Price-to-earnings 14.3x 16.5x -13.2%
Price-to-sales 1.4x 1.6x -10.4%
Price-to-book value 1.8x 2.1x -17.9%
Yield 3.4% 2.5% 35.5%

ANNUAL INCOME

  Model Benchmark Difference
Est. dividends $3,418 $2,522 $896
Less: fund expenses $281 $310 $-29
 weighted avg expense ratio 28.1 bp 31.0 bp -2.9 bp
Expected income $3,137 $2,212 $925

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