IMOM
Alpha Architect International Quantitative Momentum ETF
The MomentumShares International Quantitative Momentum ETF is an actively managed fund that uses quantitative analysis to build a portfolio of International stocks exhibiting positive price momentum.
Fund Basics
| Fund sponsor | Alpha Architect |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 22, 2015 |
| Assets (mns) | $81 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TOKYO ELECTRIC POWER CO INC | 2.2 % |
| TOKYO BROADCASTING SYSTEM | 2.2 % |
| MITSUI SUMITOMO INSURANCE GR | 2.1 % |
| RHEINMETALL AG | 2.1 % |
| BANCO BPM SPA | 2.1 % |
| UNICREDIT S.P.A. | 2.1 % |
| TOKIO MARINE HOLDINGS INC | 2.1 % |
| FINMECCANICA SPA | 2.1 % |
| NKSJ HOLDINGS INC | 2.0 % |
| BANCO BILBAO VIZCAYA ARGENTA | 2.0 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 199 |
| Wgt avg mkt cap (mns) | $32,978 |
| Large cap (>$10bn) | 61.2% |
| Mid cap ($2-10bn) | 36.9% |
| Small cap (<$2bn) | 1.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 55.6 % |
 |
ITALY | 12.1 % |
 |
BRITAIN | 9.8 % |
 |
IRELAND | 6.0 % |
 |
GERMANY | 4.1 % |
 |
SWITZERLAND | 4.0 % |
 |
DENMARK | 3.8 % |
 |
SPAIN | 2.0 % |
 |
AUSTRALIA | 1.9 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 7.6% | 10.5% | 2.6% | -2.3% | 4.4% | -- | 3.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.98 | 81% |
| MSCI EAFE | 1.04 | 84% |
| MSCI Emg Mkts | 0.75 | 47% |
Liquidity Measures
| Avg. volume (000) | 12 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.33% |
| ADV of underlying (mns) | $8,112 |
Technical Indicators
| Recent close | $27.34 |
| 30d moving avg. | $25.74 |
| Annualized volatility | 19.3% |
| Relative strength (RSI) | 70 |
| Short interest (ETF) | 0.6% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. IMOM |
Expenses vs. IMOM |
ALTAR Score™ vs. IMOM |
|---|---|---|---|---|
| IDMO | Invesco S&P International Developed Momentum ETF | 26.1% | -24 bp | -0.3% |
| IMTM | iShares MSCI Intl Momentum Factor ETF | 20.9% | -19 bp | -0.4% |
| FJP | First Trust Japan AlphaDEX Fund | 19.9% | +31 bp | +2.7% |
| JPXN | iShares JPX-Nikkei 400 ETF | 18.4% | -1 bp | +0.2% |
| EWJ | iShares MSCI Japan ETF | 17.8% | +1 bp | -0.6% |
| DXJ | WisdomTree Japan Hedged Equity Fund | 17.1% | -1 bp | +0.5% |
| DBJP | Xtrackers MSCI Japan Hedged Equity ETF | 16.9% | -2 bp | -0.7% |
| BBJP | JPMorgan BetaBuilders Japan ETF | 16.8% | -30 bp | -0.2% |
| GSJY | Goldman Sachs ActiveBeta Japan Equity ETF | 16.7% | -24 bp | +0.4% |
| FLJP | Franklin FTSE Japan ETF | 15.8% | -40 bp | -0.2% |
Risk and Returns: IMOM 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 4/18/2024
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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
IMOM
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™
IMOM
7.2%
Cat. Avg
7.3%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.2% |
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 257 funds in the International Equities category, with an average ALTAR Score™
of 7.3% and a standard deviation of
2.6%. IMOM's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places IMOM in the 49th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IMOM
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IMOM | 49.0 | 33.4 | 82.4 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .