Diamond Hill Valuation-Weighted 500
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2017E    2018E
P/E
ratio
18.4x P/Sales
ratio
2.0x
P/BV
ratio
3.0x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Diamond Hill Valuation-Weighted 500 ETF tracks an index of approximately 500 of the largest US equities weighted by intrinsic value, which is determined using a number of fundamental factors.

FUND BASICS
Category Style & Fundamental Indices
Fund Sponsor Diamond Hill
Website www.diamond-hill.com
Inception date May 12, 2015
Assets (mns) $17
Currency USD
Expense ratio 10 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Fundamental
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 499
Wgt avg mkt cap (mns) $181,316
Large cap (>$10bn) 96.3%
Mid cap ($2-10bn) 3.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 3.6 %
FACEBOOK 3.1 %
ALPHABET INC. CLASS A 3.0 %
BERKSHIRE HATHAWAY INC-CL B 2.4 %
MICROSOFT CORP 2.3 %
AMAZON.COM INC 2.2 %
JPMORGAN CHASE & CO 1.6 %
JOHNSON & JOHNSON 1.3 %
GENERAL ELECTRIC CO 1.2 %
BANK OF AMERICA CORP 1.2 %
Total 21.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.4 %
IRELAND 1.0 %
BRITAIN 0.4 %
SWITZERLAND 0.2 %
BERMUDA 0.2 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
13.2% 19.1% -- -- 9.6%

Market Correlations
versus... Beta R-squared
S&P500 1.03 98%
MSCI EAFE 0.74 76%
MSCI Emg. Mkts. 0.46 48%

Technical Indicators
Recent close $28.94
30d moving avg. $29.07
Annualized volatility 11.5%
Short interest (ETF) 1.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 6
Turnover 1.0%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $119,753

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Diamond Hill Valuation-Weighted 500 ETF based on the alternatives' overlap in portfolio holdings with DHVW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DHVW Expense: 10 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DHVW
Ticker Fund
Name
Overlap1
vs DHVW
(%)
Expense
ratio
(bp)
Savings
vs DHVW
(bp)
ALTAR
Score™
(%)
ALTAR
vs DHVW
(%)
VV Vanguard Large-Cap ETF 83.0 9 1 6.0 -0.4
VOO Vanguard S&P 500 ETF 82.8 5 5 6.0 -0.4
PBP PowerShares S&P 500 Buy/Write 82.7 75 -65 5.5 -0.9
SPY S&P 500 SPDR 82.7 9 1 5.9 -0.4
IVV iShares Core S&P 500 82.7 4 6 6.0 -0.4
SCHX Schwab U.S. Large-Cap 81.7 4 6 6.1 -0.2
SPXE ProShares S&P 500 Ex-Energy 81.3 27 -17 6.3 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 81.3 20 -10 6.0 -0.4
ONEK SPDR Russell 1000 ETF 80.8 11 -1 5.9 -0.4
VONE Vanguard Russell 1000 80.8 12 -2 6.0 -0.3
IWB iShares Russell 1000 80.6 15 -5 5.8 -0.5
HSPX Horizons S&P 500 Covered Call 79.6 65 -55 5.5 -0.9
IYY iShares DJ US Total Market 79.4 20 -10 5.9 -0.5
VTI Vanguard Total Market 77.5 5 5 5.9 -0.4
MGC Vanguard Mega Cap 300 ETF 77.4 9 1 5.8 -0.5
THRK SPDR Russell 3000 ETF 77.2 10 0 5.8 -0.5
IWV iShares Russell 3000 76.7 20 -10 5.7 -0.7
VTHR Vanguard Russell 3000 76.6 15 -5 5.9 -0.4
ITOT iShares Core S&P Total US 76.3 3 7 5.9 -0.4
SCHB Schwab U.S. Broad Market 76.3 3 7 6.1 -0.3

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2012 2013 2014 2015 2016 2017E 2018E
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
  2016 2017E 2018E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Diamond Hill Valuation-Weighted 500
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 between 6.0% and 8.0%. This indicates that valuations adequately reflect the fundamentals of stocks in these funds. The majority of funds we cover fall into this category.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.4 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.60
 
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.