PORTFOLIO ANALYSIS

SAMPLE: Global Equity



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

Ticker Name Price Weight Shares
BLDRs Europe 100 ADR $20.42 30.0% 1,469
iShares Morningstar Large Value $95.23 25.0% 263
Schwab Emerging Markets Equity $24.29 20.0% 823
iShares S&P Global Technology $123.13 10.0% 81
iShares Global Industrials $80.01 5.0% 62
SPDR S&P International Consumer Discretionary $38.24 5.0% 131
Guggenheim Global Shipping $12.19 5.0% 410

BENCHMARK

Ticker Name Price Weight Shares
iShares MSCI ACWI $63.08 100.0% 1,585


  • Geographic
  • Sector
  • Market Cap
  • Underlying Securities
MODEL
 
DEVELOPED/EMG. MKTS. 80%/20%
 
UNITED STATES 35.4%
BRITAIN 12.7%
NETHERLANDS 5.0%
SWITZERLAND 4.1%
CHINA 4.0%
JAPAN 3.7%
FRANCE 3.4%
TAIWAN 2.6%
GERMANY 2.4%
INDIA 2.4%
BENCHMARK
 
DEVELOPED/EMG. MKTS. 90%/10%
 
UNITED STATES 51.2%
JAPAN 7.5%
BRITAIN 5.1%
SWITZERLAND 3.1%
GERMANY 3.1%
FRANCE 3.1%
CANADA 3.0%
AUSTRALIA 2.4%
CHINA 2.2%
HONG KONG 1.8%
Model
Benchmark
Variation: Model vs. Benchmark
Energy+5.2%
Telecom+1.8%
Financials+1.7%
Industrials+1.2%
Technology+1.1%
Utilities-0.7%
Staples-0.9%
Materials-1.5%
Health Care-1.8%
Cons. Discr.-4.2%

BENCHMARK

ROYAL AHOLD DELHAIZE N.V. 5.1%
NOVARTIS AG-REG 1.8%
HSBC HOLDINGS PLC 1.6%
EXXON MOBIL CORP 1.6%
JPMORGAN CHASE & CO 1.4%
TOTAL SA 1.2%
APPLE INC 1.1%
AT&T INC 1.1%
WELLS FARGO & CO 1.1%
ROYAL DUTCH SHELL PLC-A SHS 1.1%
BP PLC 1.1%
A.P. MOLLER - MAERSK A/S CLASS B 1.1%
BRITISH AMERICAN TOBACCO PLC 1.1%
ROYAL DUTCH SHELL PLC-B SHS 1.0%
BANK OF AMERICA CORP 1.0%
PROCTER & GAMBLE CO/THE 1.0%
TENCENT HOLDINGS LTD 1.0%
SAP AG 1.0%
CHEVRON CORP 1.0%
TAIWAN SEMICONDUCTOR MANUFAC 1.0%
BENCHMARK

ROYAL AHOLD DELHAIZE N.V. 9.8%
APPLE INC 1.6%
MICROSOFT CORP 1.2%
EXXON MOBIL CORP 0.9%
AMAZON.COM INC 0.8%
JPMORGAN CHASE & CO 0.8%
JOHNSON & JOHNSON 0.8%
FACEBOOK 0.7%
GENERAL ELECTRIC CO 0.7%
WELLS FARGO & CO 0.6%
AT&T INC 0.6%
ALPHABET INC. CLASS A 0.6%
ALPHABET INC. CLASS C 0.6%
CHUO MITSUI TRUST HOLDINGS 0.6%
BANK OF AMERICA CORP 0.6%
NESTLE SA-REG 0.6%
PROCTER & GAMBLE CO/THE 0.5%
CHEVRON CORP 0.5%
VERIZON COMMUNICATIONS INC 0.5%
PFIZER INC 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 4.6% 11.7% 3.9% 1.0% 7.6%
JKF Jul 02, 2004 4.0% 27.5% 12.6% 4.8% 7.0%
SCHE Jan 13, 2010 8.4% 30.0% -0.2% -- 2.4%
IXN Nov 16, 2001 9.4% 33.0% 13.5% 8.8% 5.9%
EXI Sep 15, 2006 5.4% 23.5% 10.1% 5.3% 6.2%
IPD Jul 16, 2008 3.3% 12.5% 7.5% -- 13.5%
SEA Aug 25, 2008 7.4% 19.9% -2.7% -- -6.0%

 

BENCHMARK

Ticker Inception Date YTD 1 YR 5 YRS 10 YRS Since
Incep.
ACWI Mar 28, 2008 5.5% 22.3% 8.4% -- 4.7%
MODEL RESULTS & ESTIMATES

  2012 2013 2014 2015 2016 2017E 2018E
Sales 75,941 75,948 75,585 71,541 69,447 73,484 76,184
Earnings 6,290 6,589 6,704 6,728 5,914 7,083 7,887
Dividends 2,749 3,046 3,268 3,556 3,318 3,398 3,639
Book value 49,120 52,170 54,804 56,744 58,861 62,550 66,599


BENCHMARK RESULTS & ESTIMATES

  2012 2013 2014 2015 2016 2017E 2018E
Sales 61,389 63,046 63,397 61,714 61,860 65,932 69,123
Earnings 4,814 5,153 5,507 5,408 5,365 6,105 6,770
Dividends 1,870 2,066 2,238 2,372 2,390 2,538 2,722
Book value 36,779 39,234 40,933 43,009 45,079 48,780 52,757


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 % 13.1 %
Divided by: P/BV 1.6 x 2.1 x
Less: Expense ratio 31 bp 33 bp
Equals: ALTAR Score 7.1 % 6.0 %

VALUATION METRICS


2016A
2017E
2018E

  Model Benchmark Prem/Disc.
Price-to-earnings 14.1x 16.4x -13.8%
Price-to-sales 1.4x 1.5x -10.3%
Price-to-book value 1.6x 2.1x -22.0%
Yield 3.4% 2.5% 33.9%

ANNUAL INCOME

  Model Benchmark Difference
Est. dividends $3,398 $2,538 $860
Less: fund expenses $306 $330 $-24
 weighted avg expense ratio 30.6 bp 33.0 bp -2.4 bp
Expected income $3,092 $2,208 $884

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