DFNV
Donoghue Forlines Innovation ETF
DFNV tracks an index that seeks to provide risk-managed exposure to US all-cap companies with strong free cash flow and R&D investments.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
69 bp
EXPENSES
$45.5 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | TrimTabs |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 08, 2020 |
| Assets (mns) | $46 |
| Expense ratio | 69 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fixed |
| Weighting | Fixed |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| APPLE INC | 8.1 % |
| AMAZON.COM INC | 5.8 % |
| META PLATFORMS INC | 4.6 % |
| BROADCOM INC. | 4.0 % |
| MERCK & CO. INC. | 2.9 % |
| ABBVIE INC | 2.9 % |
| ORACLE CORP | 2.8 % |
| ADOBE SYSTEMS INC | 2.8 % |
| QUALCOMM INC | 2.2 % |
| INTUIT INC | 2.1 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 247 |
| Wgt avg mkt cap (mns) | $563,014 |
| Large cap (>$10bn) | 85.9% |
| Mid cap ($2-10bn) | 13.1% |
| Small cap (<$2bn) | 0.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.3 % |
 |
LUXEMBOURG | 1.2 % |
 |
AUSTRALIA | 1.0 % |
 |
IRELAND | 0.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.7% | 24.7% | 20.3% | 5.0% | -- | -- | 7.5% | Volatility | 15.3% | 15.2% | 16.8% | 19.1% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 81% |
| MSCI EAFE | 0.74 | 51% |
| MSCI Emg Mkts | 0.57 | 32% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $109,293 |
Technical Indicators
| Recent close | $30.86 |
| 30d moving avg. | $31.75 |
| Annualized volatility | 18.0% |
| Relative strength (RSI) | 60 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 3.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DFNV |
Expenses vs. DFNV |
ALTAR Score™ vs. DFNV |
|---|---|---|---|---|
| TTAC | FCF US Quality ETF | 46.8% | -10 bp | +1.4% |
| LRND | IQ U.S. Large Cap R&D Leaders ETF | 38.2% | -55 bp | +1.2% |
| IGM | iShares Expanded Tech Sector ETF | 37.1% | -28 bp | -0.3% |
| TECB | iShares U.S. Tech Breakthrough Multisector ETF | 37.0% | -29 bp | -0.6% |
| IYW | iShares U.S. Technology ETF | 35.3% | -29 bp | -0.2% |
| XPND | First Trust Expanded Technology ETF | 34.7% | -4 bp | -0.6% |
| OGIG | ALPS O'Shares Global Internet Giants ETF | 34.4% | -21 bp | -4.3% |
| DRUP | GraniteShares Nasdaq Select Disruptors ETF | 33.5% | -9 bp | -0.9% |
| COWG | Pacer US Large Cap Cash Cows Growth Leaders ETF | 33.2% | -20 bp | +0.2% |
| FELG | Fidelity Enhanced Large Cap Growth ETF | 33.0% | -51 bp | +0.1% |
Risk and Returns: DFNV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DFNV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
DFNV
4.9%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.9% |
Recommendation
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.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. DFNV's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places DFNV in the 36th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DFNV
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| DFNV (69 bp) Percentile rank | 75 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DFNV | 69.0 | 19.7 | 88.7 |
| Peer Avg. | 44.3 | 17.3 | 61.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .