QVAL
Alpha Architect U.S. Quantitative Value ETF
ValueShares US Quantitative Value ETF is an exchange-traded fund incorporated in the USA. This is an actively managed ETF and does not track an index. The ETF holds mid to large-cap US stocks and will invest in approximately 50 of the top U.S. equity securities as determined by its quantitative value system. The ETF weights the holdings equally and follows a quarterly rebalance schedule.
Fund Basics
| Fund sponsor | Alpha Architect LLC |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 22, 2014 |
| Assets (mns) | $188 |
| 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 +
| PBF ENERGY INC-CLASS A | 2.7 % |
| PEABODY ENERGY CORPORATION | 2.4 % |
| HF SINCLAIR CORPORATION | 2.3 % |
| DELEK US HOLDINGS INC | 2.2 % |
| MARATHON PETROLEUM | 2.2 % |
| VALERO ENERGY CORP | 2.2 % |
| LENNAR CORP-CL A | 2.1 % |
| SKYLINE CORP | 2.1 % |
| CVR ENERGY INC | 2.1 % |
| NVR INC | 2.1 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 200 |
| Wgt avg mkt cap (mns) | $17,022 |
| Large cap (>$10bn) | 47.3% |
| Mid cap ($2-10bn) | 48.3% |
| Small cap (<$2bn) | 2.1% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.7 % |
 |
CANADA | 2.0 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2022)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -12.2% | -8.6% | 17.2% | 9.2% | 6.6% | -- | 4.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.27 | 76% |
| MSCI EAFE | 1.33 | 79% |
| MSCI Emg Mkts | 1.12 | 59% |
Liquidity Measures
| Avg. volume (000) | 26 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.14% |
| ADV of underlying (mns) | $10,725 |
Technical Indicators
| Recent close | $29.20 |
| 30d moving avg. | $31.69 |
| Annualized volatility | 28.1% |
| Relative strength (RSI) | 32 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 6.8% |
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. QVAL |
Expenses vs. QVAL |
ALTAR Score™ vs. QVAL |
|---|---|---|---|---|
| COWZ | Pacer US Cash Cows 100 ETF | 33.8% | 0 bp | -1.5% |
| XOP | SPDR S&P Oil & Gas Exploration & Production ETF | 30.9% | -14 bp | -6.8% |
| PXE | Invesco Dynamic Energy Exploration & Production ETF | 30.5% | +14 bp | -4.6% |
| QMOM | Alpha Architect U.S. Quantitative Momentum ETF | 26.3% | 0 bp | -7.4% |
| SYLD | Cambria Shareholder Yield ETF | 24.6% | +10 bp | -1.5% |
| FXZ | First Trust Materials AlphaDEX Fund | 23.2% | +15 bp | +2.6% |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 23.0% | +11 bp | -8.1% |
| DBLV | AdvisorShares DoubleLine Value Equity ETF | 21.4% | +42 bp | -2.0% |
| PYZ | Invesco DWA Basic Materials Momentum ETF | 21.0% | +11 bp | -2.1% |
| IEO | iShares U.S. Oil & Gas Exploration & Production ETF | 20.3% | -10 bp | -6.8% |
Risk and Returns: QVAL 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
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 9/30/2022
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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
QVAL
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™
QVAL
15.0%
Cat. Avg
7.4%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 15.0% |
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 875 funds in the US Equities category, with an average ALTAR Score™
of 7.4% and a standard deviation of
3.2%. QVAL's ALTAR Score™ is approximately
2.4 standard deviations
above
the category average. This places QVAL in the 99th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
QVAL
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
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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) |
|
|---|---|---|---|
| QVAL | 49.0 | 14.0 | 63 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .