IVAL

Alpha Architect International Quantitative Value ETF

ValueShares International Quantitative Value ETF is an actively managed exchange traded fund incorporated in the USA. The ETF holds mid to large-cap developed markets (excluding U.S. and Canada) stocks and will invest in approximately 50 of the top equity securities as determined by its quantitative value system. The ETF weights the holdings equally and follows a semi-annual rebalance schedule.


International

EQUITY

Active

MANAGEMENT STYLE

141.7 M

ASSETS UNDER MGMT

49 bp

EXPENSES
Fund Basics
Fund sponsorAlpha Architect LLC
CategoryInternational
Asset classEquity
Websitelink...
Inception dateDec 16, 2014
Assets (mns)$142
Expense ratio49 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
HEIDELBERGCEMENT AG 2.3 %
NGK SPARK PLUG CO LTD 2.2 %
BUZZI UNICEM S.P.A. 2.2 %
SEKISUI CHEMICAL CO LTD 2.2 %
YAMAZAKI BAKING CO LTD 2.1 %
SAIPEM S.P.A. 2.1 %
REXEL SA 2.1 %
SSAB AB CLASS B 2.1 %
YAMAHA MOTOR CO LTD 2.1 %
KOMATSU LTD 2.1 %
Constituent Breakdown
Number of holdings50
Herfindahl-Hirschman Index 197
Wgt avg mkt cap (mns)$25,755
Large cap (>$10bn)42.5%
Mid cap ($2-10bn)53.6%
Small cap (<$2bn)3.9%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
JAPAN 45.5 %
FRANCE 13.6 %
ITALY 8.0 %
BRITAIN 6.1 %
GERMANY 6.1 %
SWEDEN 6.0 %
AUSTRALIA 5.8 %
CHINA 2.0 %
PORTUGAL 1.9 %
FINLAND 1.9 %
Historical Performance


Standardized Performance (as of 10/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 1.1% 14.5% 16.4% 3.7% 2.3% -- 3.0%
Volatility 15.8% 15.5% 16.5% 18.8% 21.9% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.9268%
MSCI EAFE1.0286%
MSCI Emg Mkts0.8253%
Liquidity Measures
Avg. volume (000)10
Turnover0.2%
Avg. Bid/Ask (% of price)0.30%
ADV of underlying (mns)$4,045
Technical Indicators
Recent close$24.23
30d moving avg.$25.27
Annualized volatility19.4%
Relative strength (RSI)46
Short interest (ETF)0.1%
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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Risk and Returns: IVAL vs. Comps (1 YR)

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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 --%
0.4 8.8 0.9 5.0% --
Based on closing prices from 11/13/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
IVAL



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 Rating

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™

IVAL

9.5%

Cat. Avg

7.4%


ALTAR Score™ Calculation

Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™ of 7.4% and a standard deviation of 2.6%. IVAL's ALTAR Score™ is approximately 0.8 standard deviations above the category average. This places IVAL in the 79th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

IVAL
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Active
International Equity ETFs
# of ETFs 38
Avg. Expense Ratio 56.2 bp
Std. Deviation 24 bp
IVAL (49 bp) Percentile rank 38
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
IVAL 49.0 30.1 79.1
Peer Avg. 61.5 33.0 94.5
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .