DSMC

Distillate Small/Mid Cash Flow ETF

DSMC holds approximately 150 small- and mid-cap U.S.-listed stocks, systematically selected using the firm's proprietary measures of quality and free cash flow based valuation.


US

EQUITY

Active

MANAGEMENT STYLE

55 bp

EXPENSES

$84.2 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorDistillate Capital
CategoryUS
Asset classEquity
Websitelink...
Inception dateOct 05, 2022
Assets (mns)$84
Expense ratio55 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
QORVO INC 1.7 %
UNITED THERAPEUTICS CORP 1.6 %
CROCS INC 1.6 %
TOLL BROTHERS INC 1.5 %
ATKORE INTERNATIONAL GROUP INC. 1.5 %
DILLARDS INC-CL A 1.5 %
ALPHA METALLURGICAL RESOURCES, INC. 1.5 %
CHORD ENERGY CORPORATION 1.4 %
CHESAPEAKE ENERGY CORP 1.3 %
WEX INC 1.2 %
Constituent Breakdown
Number of holdings150
Herfindahl-Hirschman Index 78
Wgt avg mkt cap (mns)$6,917
Large cap (>$10bn)26.8%
Mid cap ($2-10bn)51.3%
Small cap (<$2bn)21.9%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 98.9 %
CANADA 0.9 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 5.2% 35.7% -- -- -- -- 23.5%
Volatility 14.6% 17.0% -- -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5001.2168%
MSCI EAFE1.0967%
MSCI Emg Mkts0.8455%
Liquidity Measures
Avg. volume (000)9
Turnover0.4%
Avg. Bid/Ask (% of price)0.14%
ADV of underlying (mns)$7,954
Technical Indicators
Recent close$34.73
30d moving avg.$35.00
Annualized volatility21.8%
Relative strength (RSI)49
Short interest (ETF)0.8%
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: DSMC vs. Comps (1 YR)

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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 --%
0.8 10.7 1.6 2.2% --
Based on closing prices from 6/20/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
DSMC



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™

DSMC

12.1%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™12.1%
Recommendation

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

Category Overview
There are 892 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.8%. DSMC's ALTAR Score™ is approximately 2.3 standard deviations above the category average. This places DSMC in the 99th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
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Volume
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
DSMC 55.0 13.8 68.8
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .