MFDX

PIMCO RAFI Dynamic Multi-Factor International Equity ETF

The PIMCO RAFI Dynamic Multi-Factor International Equity ETF is a smart beta strategy that seeks to track the investment results of the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index, which provides dynamically-weighted exposure to multiple equity factors, including value, quality, low volatility, momentum and size.


International

EQUITY

Rules-Based

MANAGEMENT STYLE

39 bp

EXPENSES

$252.9 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorPIMCO
CategoryInternational
Asset classEquity
Websitelink...
Inception dateAug 31, 2017
Assets (mns)$253
Expense ratio39 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMulti-Factor
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
NOVO NORDISK A/S-B 1.7 %
ASML HOLDING NV 1.1 %
NOVARTIS AG 0.9 %
SAP AG 0.9 %
HITACHI LTD 0.8 %
UNILEVER PLC 0.8 %
NESTLE SA-REG 0.7 %
GSK PLC 0.7 %
MITSUBISHI HEAVY INDUSTRIES 0.7 %
ZURICH FINANCIAL SERVICES AG 0.7 %
Constituent Breakdown
Number of holdings1196
Herfindahl-Hirschman Index 26
Wgt avg mkt cap (mns)$57,073
Large cap (>$10bn)71.2%
Mid cap ($2-10bn)23.1%
Small cap (<$2bn)5.6%
Developed mkts.99.8%
Emerging mkts.0.2%
Country Exposure
JAPAN 26.0 %
BRITAIN 13.9 %
CANADA 6.9 %
SWITZERLAND 6.1 %
AUSTRALIA 5.4 %
GERMANY 4.9 %
FRANCE 4.6 %
NETHERLANDS 4.3 %
SPAIN 3.2 %
DENMARK 2.4 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 2.7% 14.7% 7.0% 2.7% 7.6% -- 5.0%
Volatility 10.5% 11.7% 15.0% 15.3% 18.3% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.7773%
MSCI EAFE0.9298%
MSCI Emg Mkts0.7465%
Liquidity Measures
Avg. volume (000)28
Turnover0.3%
Avg. Bid/Ask (% of price)0.07%
ADV of underlying (mns)$44,491
Technical Indicators
Recent close$30.12
30d moving avg.$31.00
Annualized volatility16.1%
Relative strength (RSI)54
Short interest (ETF)0.0%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

Risk and Returns: MFDX 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 -- -- -- -- -- -- --
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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 --%
0.7 11.3 1.2 3.8% --
Based on closing prices from 6/21/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
MFDX



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™

MFDX

7.5%

Cat. Avg

7.3%

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 256 funds in the International category, with an average ALTAR Score™ of 7.3% and a standard deviation of 2.4%. MFDX's ALTAR Score™ is approximately 0.1 standard deviations above the category average. This places MFDX in the 54th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
MFDX
Peer Average
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)
MFDX 39.0 7.0 46
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .