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
142.0 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Alpha Architect LLC |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 16, 2014 |
| Assets (mns) | $142 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| 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
Complete list +
| HEIDELBERGCEMENT AG | 2.3 % |
| BUZZI UNICEM S.P.A. | 2.3 % |
| NGK SPARK PLUG CO LTD | 2.2 % |
| TOYO TIRE & RUBBER CO LTD | 2.2 % |
| SEKISUI CHEMICAL CO LTD | 2.2 % |
| YAMAZAKI BAKING CO LTD | 2.2 % |
| COMPAGNIE DE SAINT-GOBAIN | 2.2 % |
| SAIPEM S.P.A. | 2.1 % |
| SUZUKI MOTOR CORP | 2.1 % |
| EASYJET PLC | 2.1 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 198 |
| 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 | 45.7 % |
 |
FRANCE | 13.8 % |
 |
ITALY | 8.2 % |
 |
BRITAIN | 6.1 % |
 |
GERMANY | 6.1 % |
 |
SWEDEN | 5.8 % |
 |
AUSTRALIA | 5.6 % |
 |
CHINA | 2.0 % |
 |
FINLAND | 2.0 % |
 |
PORTUGAL | 1.9 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| 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... | Beta | R-squared |
| S&P 500 | 0.92 | 68% |
| MSCI EAFE | 1.02 | 86% |
| MSCI Emg Mkts | 0.82 | 53% |
Liquidity Measures
| Avg. volume (000) | 12 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.30% |
| ADV of underlying (mns) | $4,045 |
Technical Indicators
| Recent close | $24.28 |
| 30d moving avg. | $25.27 |
| Annualized volatility | 19.4% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. IVAL |
Expenses vs. IVAL |
ALTAR Score™ vs. IVAL |
|---|---|---|---|---|
| ICOW | Pacer Developed Markets International Cash Cows 100 ETF | 22.4% | +16 bp | +3.2% |
| SCHY | Schwab International Dividend Equity ETF | 14.9% | -35 bp | -0.2% |
| IDOG | ALPS International Sector Dividend Dogs ETF | 13.3% | +1 bp | +3.3% |
| DXJ | WisdomTree Japan Hedged Equity Fund | 13.1% | -1 bp | -1.1% |
| VWID | Virtus WMC International Dividend ETF | 13.0% | 0 bp | +0.0% |
| IVLU | iShares MSCI Intl Value Factor ETF | 12.6% | -19 bp | +2.0% |
| EWJV | iShares MSCI Japan Value ETF | 12.1% | -34 bp | +0.6% |
| DFIV | Dimensional International Value ETF | 11.7% | -22 bp | +0.5% |
| FIVA | Fidelity International Value Factor ETF | 11.7% | -31 bp | +0.7% |
| EFV | iShares MSCI EAFE Value ETF | 11.5% | -15 bp | -0.1% |
Risk and Returns: IVAL 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 11/22/2024
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
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
7.3%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.3% 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 80th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
IVALSELL
U/W
HOLD
O/W
BUY
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. | 62.5 | 29.6 | 92.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .