MFUS
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
The PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF is a smart beta strategy that seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund is designed to provide investors with the benefits of dynamically-weighted exposure to multiple equity factors, including value, quality, low volatility.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
29 bp
EXPENSES
$148.9 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | PIMCO |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 31, 2017 |
| Assets (mns) | $149 |
| Expense ratio | 29 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ELI LILLY & CO | 2.8 % |
| NVIDIA CORP | 2.7 % |
| META PLATFORMS INC | 2.5 % |
| BROADCOM INC. | 2.1 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.9 % |
| WAL-MART STORES INC | 1.8 % |
| ALPHABET INC. CLASS A | 1.7 % |
| AMAZON.COM INC | 1.6 % |
| MICROSOFT CORP | 1.5 % |
| ORACLE CORP | 1.5 % |
Constituent Breakdown
| Number of holdings | 798 |
| Herfindahl-Hirschman Index | 72 |
| Wgt avg mkt cap (mns) | $362,909 |
| Large cap (>$10bn) | 88.7% |
| Mid cap ($2-10bn) | 10.2% |
| Small cap (<$2bn) | 0.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.5 % |
 |
IRELAND | 1.1 % |
 |
BRITAIN | 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 | 8.9% | 17.4% | 14.3% | 7.1% | 11.4% | -- | 10.8% | Volatility | 10.7% | 11.0% | 14.8% | 15.5% | 19.6% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.88 | 88% |
| MSCI EAFE | 0.84 | 75% |
| MSCI Emg Mkts | 0.56 | 34% |
Liquidity Measures
| Avg. volume (000) | 4 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $440,775 |
Technical Indicators
| Recent close | $47.71 |
| 30d moving avg. | $47.80 |
| Annualized volatility | 17.0% |
| Relative strength (RSI) | 60 |
| Short interest (ETF) | 2.0% |
| Short interest (underlying) | 2.6% |
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. MFUS |
Expenses vs. MFUS |
ALTAR Score™ vs. MFUS |
|---|---|---|---|---|
| JHML | John Hancock Multifactor Large Cap ETF | 58.8% | 0 bp | -0.6% |
| IWB | iShares Russell 1000 ETF | 58.2% | -14 bp | -1.0% |
| IYY | iShares Dow Jones U.S. ETF | 58.0% | -9 bp | -1.1% |
| FNDB | Schwab Fundamental US Broad Market Index ETF | 57.9% | -4 bp | +0.8% |
| GUSA | Goldman Sachs MarketBeta U.S. 1000 Equity ETF | 57.8% | -18 bp | -1.0% |
| SPTM | SPDR Portfolio S&P 1500 Composite Stock Market ETF | 57.7% | -26 bp | -0.8% |
| SCHK | Schwab 1000 Index ETF | 57.7% | -24 bp | -0.9% |
| DFUS | Dimensional U.S. Equity ETF | 57.6% | -20 bp | -1.0% |
| ILCB | iShares Morningstar U.S. Equity ETF | 57.5% | -26 bp | -0.9% |
| FNDX | Schwab Fundamental US Large Co. Index ETF | 57.5% | -4 bp | +0.9% |
Risk and Returns: MFUS 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
Peer Group Comparison Sample data. Subscribe for access.
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
MFUS
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™
MFUS
6.1%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.1% |
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 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. MFUS's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places MFUS in the 57th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MFUS
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 |
| MFUS (29 bp) Percentile rank | 30 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MFUS | 29.0 | 20.4 | 49.4 |
| Peer Avg. | 29.1 | 14.0 | 43.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .