SLT

Salt TruBeta High Exposure ETF

The Salt truBeta High Exposure ETF tracks an equal-weighted index of US large-cap companies predicted to have high beta to the SPDR S&P 500 ETF (SPY).


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9.2%

ALTAR Score™
Trend in ALTAR Score™

LVHB

Closest Comp

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSalt Financial
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateMay 15, 2018
Assets (mns)$8
Expense ratio29 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionBeta
WeightingEqual
Smart-betaYes
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
SQUARE, INC. CLASS A 1.6 %
CARVANA CO. CLASS A 1.4 %
TRADE DESK, INC. CLASS A 1.4 %
AMICUS THERAPEUTICS INC 1.4 %
LAM RESEARCH CORP 1.3 %
WEYERHAEUSER CO 1.3 %
ENPHASE ENERGY INC 1.3 %
FREEPORT-MCMORAN COPPER 1.2 %
LEGGETT & PLATT INC 1.2 %
TOLL BROTHERS INC 1.2 %
Constituent Breakdown
Number of holdings102
Herfindahl-Hirschman Index 100
Wgt avg mkt cap (mns)$14,195
Large cap (>$10bn)41.8%
Mid cap ($2-10bn)58.2%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 98.0 %
BERMUDA 1.1 %
Historical Performance


Standardized Annual Returns (as of 07/31/2020)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
-7.8% -0.3% 3.0% -- -- -- 2.5%
Market Correlations
versus...BetaR-squared
S&P 5001.6389%
MSCI EAFE1.7484%
MSCI Emg Mkts1.3177%
Liquidity Measures
Avg. volume (000)6
Turnover2.0%
Avg. Bid/Ask (% of price)0.13%
ADV of underlying (mns)$30,153
Technical Indicators
Recent close$26.29
30d moving avg.$25.80
Annualized volatility33.6%
Relative strength (RSI)49
Short interest (ETF)0.0%
Short interest (underlying)0.0%
Distributions
Total Cost of Ownership Detail
  SLT Difference
Fund expenses -- --
Bid/Ask spread -- --
Round-trip commission -- -- --
Total Cost of Ownership -- -- --

Total Cost of Ownership over Time


Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Results & Estimates
  2015 2016 2017 2018 2019 2020E 2021E  
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
  2019 2020E Fwd Est 2021E
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 --%
0.9 61.0 1.0 2.7% --
Based on closing prices from 8/4/2020
Historical Valuation Trends Sample data. Subscribe for access.

Notes: Based on adjusted historical results for current fund constituents. May differ from results acheived 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™

SLT

9.2%

Cat. Avg

5.6%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™9.2%
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 705 funds in the US Equities category, with an average ALTAR Score™ of 5.6% and a standard deviation of 2.8%. SLT's ALTAR Score™ is approximately 1.3 standard deviations above the category average. This places SLT in the 90th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
SLT
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


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Market Activity
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Portfolio composition files licensed from DTCC. Fundamental data for individual fund constituents sourced from FactSet Research Systems.