RODE
Hartford Multifactor Diversified International ETF
The Hartford Multifactor Low Volatility International Equity ETF tracks an index of global ex-US stocks that exhibit low volatility, with constraints for neutral or positive factor exposure and marketlike portfolio characteristics.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
29 bp
EXPENSES
$18.1 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Hartford |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | May 10, 2017 |
| Assets (mns) | $18 |
| Expense ratio | 29 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| 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
| HON HAI PRECISION INDUSTRY | 1.0 % |
| JB HI-FI LTD | 1.0 % |
| SIMPLO TECHNOLOGY CO LTD | 1.0 % |
| SANOFI-AVENTIS | 0.9 % |
| LENOVO GROUP LTD | 0.9 % |
| SOLVAY SA | 0.9 % |
| AUST AND NZ BANKING GROUP | 0.9 % |
| CHINA CONSTRUCTION BANK-H | 0.9 % |
| ROCHE HOLDING AG-BR | 0.9 % |
| NOVARTIS AG | 0.9 % |
Constituent Breakdown
| Number of holdings | 342 |
| Herfindahl-Hirschman Index | 49 |
| Wgt avg mkt cap (mns) | $44,489 |
| Large cap (>$10bn) | 65.9% |
| Mid cap ($2-10bn) | 30.0% |
| Small cap (<$2bn) | 2.5% |
| Developed mkts. | 64.9% |
| Emerging mkts. | 35.1% |
Country Exposure
 |
JAPAN | 15.3 % |
 |
TAIWAN | 8.9 % |
 |
CHINA | 7.4 % |
 |
AUSTRALIA | 6.8 % |
 |
BRITAIN | 4.7 % |
 |
SOUTH KOREA | 4.6 % |
 |
FRANCE | 4.3 % |
 |
HONG KONG | 4.1 % |
 |
SWITZERLAND | 3.6 % |
 |
CANADA | 3.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 1.7% | 9.7% | 9.5% | 2.0% | 3.9% | -- | 4.4% | Volatility | 10.2% | 12.0% | 13.9% | 13.8% | 17.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.73 | 68% |
| MSCI EAFE | 0.89 | 94% |
| MSCI Emg Mkts | 0.78 | 74% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.42% |
| ADV of underlying (mns) | $24,978 |
Technical Indicators
| Recent close | $27.90 |
| 30d moving avg. | $28.21 |
| Annualized volatility | 15.9% |
| Relative strength (RSI) | 55 |
| 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)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. RODE |
Expenses vs. RODE |
ALTAR Score™ vs. RODE |
|---|---|---|---|---|
| RODM | Hartford Multifactor Developed Markets (ex-US) ETF | 43.8% | 0 bp | -2.9% |
| ROAM | Hartford Multifactor Emerging Markets ETF | 33.1% | +15 bp | -0.1% |
| VIDI | Vident International Equity Strategy ETF | 25.8% | +32 bp | +0.4% |
| VYMI | Vanguard International High Dividend Yield ETF | 25.6% | -7 bp | -1.9% |
| GSIE | Goldman Sachs ActiveBeta International Equity ETF | 25.3% | -4 bp | -4.4% |
| IQIN | IQ 500 International ETF | 25.1% | -4 bp | -2.7% |
| DIVI | Franklin International Core Dividend Tilt Index ETF | 24.3% | -20 bp | -3.8% |
| HFXI | IQ FTSE International Equity Currency Neutral ETF | 24.1% | -9 bp | -4.6% |
| HDAW | Xtrackers MSCI All World ex US High Dividend Yield Equity ET | 24.0% | -9 bp | -1.2% |
| DDWM | WisdomTree Dynamic Currency Hedged International Equity Fund | 23.7% | +11 bp | -3.6% |
Risk and Returns: RODE 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
RODE
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™
RODE
11.4%
Cat. Avg
7.2%
Fund Category: International
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 11.4% |
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 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. RODE's ALTAR Score™ is approximately
1.8 standard deviations
above
the category average. This places RODE in the 96th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
RODE
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| RODE (29 bp) Percentile rank | 28 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| RODE | 29.0 | 41.5 | 70.5 |
| Peer Avg. | 33.7 | 17.7 | 51.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .