DIVI

Franklin International Core Dividend Tilt Index ETF

DIVI tracks an index of large- and mid-cap equities from developed markets outside North America. The index aims to maximize dividend yields through optimizations.


International

EQUITY

Rules-Based

MANAGEMENT STYLE

9 bp

EXPENSES

$878.5 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorFranklin Templeton
CategoryInternational
Asset classEquity
Websitelink...
Inception dateJun 01, 2016
Assets (mns)$879
Expense ratio9 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsSemi-annual
Taxation1099
Stock selectionDividends
WeightingDividends
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
ASML HOLDING NV 2.8 %
NOVARTIS AG 2.0 %
NESTLE SA-REG 1.8 %
ASTRAZENECA PLC 1.6 %
ROCHE HOLDING AG-BR 1.5 %
NOVO NORDISK A/S-B 1.5 %
TOKYO ELECTRON LTD 1.5 %
TOYOTA MOTOR CORP 1.4 %
BHP BILLITON LTD 1.3 %
LVMH MOET HENNESSY LOUIS VUI 1.3 %
Constituent Breakdown
Number of holdings515
Herfindahl-Hirschman Index 67
Wgt avg mkt cap (mns)$96,632
Large cap (>$10bn)86.8%
Mid cap ($2-10bn)11.7%
Small cap (<$2bn)0.0%
Developed mkts.99.6%
Emerging mkts.0.4%
Country Exposure
JAPAN 23.4 %
BRITAIN 14.8 %
SWITZERLAND 10.9 %
AUSTRALIA 9.6 %
FRANCE 9.1 %
GERMANY 8.4 %
NETHERLANDS 5.4 %
ITALY 4.5 %
SWEDEN 3.1 %
HONG KONG 2.3 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 4.5% 12.3% -- -- -- -- 29.0%
Volatility 11.3% 12.3% 15.7% 14.8% 17.5% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.7653%
MSCI EAFE0.8273%
MSCI Emg Mkts0.7350%
Liquidity Measures
Avg. volume (000)179
Turnover0.7%
Avg. Bid/Ask (% of price)0.24%
ADV of underlying (mns)$35,401
Technical Indicators
Recent close$31.83
30d moving avg.$33.00
Annualized volatility15.0%
Relative strength (RSI)54
Short interest (ETF)0.4%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: DIVI 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 --%
1.3 12.3 1.5 4.2% --
Based on closing prices from 7/19/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
DIVI



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™

DIVI

7.5%

Cat. Avg

7.1%

Fund Category: International

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™7.5%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 258 funds in the International category, with an average ALTAR Score™ of 7.1% and a standard deviation of 2.4%. DIVI's ALTAR Score™ is approximately 0.2 standard deviations above the category average. This places DIVI in the 57th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
DIVI
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Rules-Based
International Equity ETFs
# of ETFs 152
Avg. Expense Ratio 42.9 bp
Std. Deviation 24.3 bp
DIVI (9 bp) Percentile rank 8
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
DIVI 9.0 24.0 33
Peer Avg. 33.7 17.7 51.4
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .