VSLU
Applied Finance Valuation Large Cap ETF
VSLU is an actively managed fund the selects at least 200 stocks globally based on a proprietary valuation driven investment process.
US
EQUITY
Active
MANAGEMENT STYLE
49 bp
EXPENSES
$170.2 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Applied Finance Group |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 29, 2021 |
| Assets (mns) | $170 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| 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
| NVIDIA CORP | 9.0 % |
| APPLE INC | 8.1 % |
| ALPHABET INC. CLASS A | 6.1 % |
| MICROSOFT CORP | 6.0 % |
| MASTERCARD INCORPORATED CLASS A | 4.7 % |
| META PLATFORMS INC | 4.1 % |
| BROADCOM INC. | 3.8 % |
| AMAZON.COM INC | 3.5 % |
| VISA INC. CLASS A | 3.1 % |
| MERCK & CO. INC. | 2.4 % |
Constituent Breakdown
| Number of holdings | 308 |
| Herfindahl-Hirschman Index | 328 |
| Wgt avg mkt cap (mns) | $952,389 |
| Large cap (>$10bn) | 99.5% |
| Mid cap ($2-10bn) | 0.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.5 % |
 |
IRELAND | 1.9 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.1% | 21.8% | 21.1% | 9.9% | -- | -- | 10.2% | Volatility | 11.0% | 10.9% | 16.2% | 16.4% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.97 | 100% |
| MSCI EAFE | 0.88 | 76% |
| MSCI Emg Mkts | 0.64 | 41% |
Liquidity Measures
| Avg. volume (000) | 27 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.21% |
| ADV of underlying (mns) | $322,770 |
Technical Indicators
| Recent close | $33.70 |
| 30d moving avg. | $34.61 |
| Annualized volatility | 17.6% |
| Relative strength (RSI) | 66 |
| Short interest (ETF) | 0.3% |
| 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. VSLU |
Expenses vs. VSLU |
ALTAR Score™ vs. VSLU |
|---|---|---|---|---|
| SPXN | ProShares S&P 500 Ex-Financials ETF | 65.9% | -40 bp | -0.4% |
| IVV | iShares Core S&P 500 ETF | 63.7% | -46 bp | -0.5% |
| SPY | SPDR S&P 500 ETF Trust | 63.7% | -40 bp | -0.5% |
| SPLG | SPDR Portfolio S&P 500 ETF | 63.6% | -47 bp | -0.4% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 63.5% | -42 bp | -0.5% |
| GSPY | Gotham Enhanced 500 ETF | 63.4% | +1 bp | -0.4% |
| SPXE | ProShares S&P 500 Ex-Energy ETF | 63.4% | -40 bp | -0.6% |
| VOTE | TCW Transform 500 ETF | 63.2% | -44 bp | -0.5% |
| BBUS | JP Morgan Betabuilders U.S. Equity ETF | 62.8% | -47 bp | -0.5% |
| EPS | WisdomTree U.S. LargeCap Fund | 62.8% | -41 bp | +0.5% |
Risk and Returns: VSLU 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
VSLU
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™
VSLU
5.7%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.7% |
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%. VSLU's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places VSLU in the 50th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
VSLU
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| VSLU (49 bp) Percentile rank | 31 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VSLU | 49.0 | 20.6 | 69.6 |
| Peer Avg. | 69.7 | 23.8 | 93.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .