SHOC
Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF
SHOC tracks a market cap-weighted index of the 30 largest semiconductor companies in the US equity market.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
40 bp
EXPENSES
$89.1 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Alpha Architect |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 06, 2022 |
| Assets (mns) | $89 |
| Expense ratio | 40 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NVIDIA CORP | 27.1 % |
| ASML HOLDING NV-NY REG SHS | 10.5 % |
| ADVANCED MICRO DEVICES | 7.3 % |
| BROADCOM INC. | 4.9 % |
| INTEL CORP | 4.6 % |
| TEXAS INSTRUMENTS INC | 4.3 % |
| APPLIED MATERIALS INC | 4.2 % |
| LAM RESEARCH CORP | 4.0 % |
| MICRON TECHNOLOGY INC | 3.9 % |
| ANALOG DEVICES INC | 3.8 % |
Constituent Breakdown
| Number of holdings | 30 |
| Herfindahl-Hirschman Index | 1,070 |
| Wgt avg mkt cap (mns) | $235,941 |
| Large cap (>$10bn) | 98.9% |
| Mid cap ($2-10bn) | 1.1% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 86.1 % |
 |
NETHERLANDS | 10.6 % |
 |
SWITZERLAND | 2.4 % |
 |
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 | 28.2% | 46.6% | -- | -- | -- | -- | 55.9% | Volatility | 29.9% | 27.3% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.70 | 61% |
| MSCI EAFE | 1.12 | 32% |
| MSCI Emg Mkts | 1.48 | 48% |
Liquidity Measures
| Avg. volume (000) | 60 |
| Turnover | 3.1% |
| Avg. Bid/Ask (% of price) | 0.08% |
| ADV of underlying (mns) | $86,601 |
Technical Indicators
| Recent close | $45.46 |
| 30d moving avg. | $51.35 |
| Annualized volatility | 29.1% |
| Relative strength (RSI) | 66 |
| Short interest (ETF) | 0.7% |
| 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. SHOC |
Expenses vs. SHOC |
ALTAR Score™ vs. SHOC |
|---|---|---|---|---|
| SMH | VanEck Semiconductor ETF | 75.9% | -5 bp | +0.0% |
| SOXQ | Invesco PHLX Semiconductor ETF | 63.6% | -21 bp | +0.2% |
| SOXX | iShares Semiconductor ETF | 61.2% | -5 bp | +0.8% |
| FTXL | First Trust Nasdaq Semiconductor ETF | 48.4% | +20 bp | +1.3% |
| WUGI | AXS Esoterica NextG Economy ETF | 44.1% | +35 bp | -1.9% |
| XLK | Technology Select Sector SPDR Fund | 43.1% | -31 bp | +0.4% |
| IQM | Franklin Intelligent Machines ETF | 42.5% | +10 bp | -1.2% |
| PSI | Invesco Semiconductors ETF | 37.6% | +17 bp | -0.2% |
| QTEC | First Trust NASDAQ-100 Technology Sector Index Fund | 36.8% | +17 bp | -0.5% |
| XNTK | SPDR NYSE Technology ETF | 35.7% | -5 bp | -0.6% |
Risk and Returns: SHOC 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
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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
SHOC
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™
SHOC
4.7%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.7% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
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%. SHOC's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places SHOC in the 33rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
SHOC
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 |
| SHOC (40 bp) Percentile rank | 42 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SHOC | 40.0 | 8.4 | 48.4 |
| Peer Avg. | 44.3 | 17.3 | 61.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .