Voyager Foreign Large-Value

Voyager Accounts: International Equity

Summary

The Voyager Foreign Large Cap Value Account invests primarily in large international stocks that are either less expensive or growing are a slower rate than other large-cap stocks. The portfolio manager divides the accounts assets across several developed markets, including Japan, Britain, France, and Germany. The account primarily invest in stocks that have market caps in the top 70% of each economically integrated market (such as Europe or Asia ex-Japan). Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow). The account typically holds less than 20% of assets invested in U.S. stocks.

Benchmark: S&P Global LargeCap (USD)

Core Facts

Asset Class International Equity
Category Foreign Large-Value
Expense Ratio [1] 0.0%
Commissions [2] 0.0%
Fee [3] 0.40%
Minimum investment [4] $1000 US
Account number IE101
Account manager Galleon Wealth Management
Region Global
Market Developed

Capitalization

Value

Blend

Growth
LG
MD


SM


Style

Portfolio composition by security (top holdings)

Top Holdings

Company NameForward Annual Div Yield1yr Target EstEPS Est Next YearForward P/E
Grupo Aeroportuario del Pacifico, S.A.B. de C.V.3.26%122.006.8719.32
GlaxoSmithKline plc5.09%1,644.50113.850.16
Siemens Aktiengesellschaft3.38%78.514.4214.67
Mitsubishi Corporation4.74%3,774.20439.956.57
Sanofi3.35%82.625.7616.01
Pembina Pipeline Corporation5.02%55.392.5120.09
TOTAL S.A.5.41%68.275.978.12
BP p.l.c.6.33%49.523.2312.00
Royal Dutch Shell plc6.29%36.113.097.33
HSBC Holdings plc5.28%9.200.777.71

Overall Risk

The risk rating is based on the account’s past performance as compared to mutual funds and/or ETFs within the same category. It represents a starting point from which investors evaluate if the core makes sense for their own risk tolerance, suitability, goals and objectives. It is not a buy or sell recommendation. There are many types of risk, including interest rate, market, political, and currency. Each type of risk can affect the value of the securities in your account.

Overview       
Start Date1/1/14
End Date12/31/19
Initial Balance$10,000
Periodic AdjustmentNone
RebalancingRebalance quarterly
Reinvest DividendsYes
BenchmarkVanguard International Value Inv
Portfolio Performance
MetricVoyager Foreign Large-ValueVanguard International Value Inv
Start Balance$10,000 $10,000
End Balance$13,858 $12,008
End Balance (inflation adjusted)$12,568 $10,890
CAGR5.59%3.10%
CAGR (inflation adjusted)3.88%1.43%
Stdev11.19%12.16%
Best Year21.93%27.96%
Worst Year-12.01%-14.52%
Max. Drawdown-16.71%-23.16%
Sharpe Ratio0.460.24
Sortino Ratio0.730.35
US Stock Market Correlation0.760.83
Risk and Return Metrics
MetricVoyager Foreign Large-ValueVanguard International Value Inv
Arithmetic Mean (monthly)0.51%0.32%
Arithmetic Mean (annualized)6.24%3.85%
Geometric Mean (monthly)0.45%0.25%
Geometric Mean (annualized)5.59%3.10%
Volatility (monthly)3.23%3.51%
Volatility (annualized)11.19%12.16%
Downside Deviation (monthly)2.02%2.35%
Max. Drawdown-16.71%-23.16%
US Market Correlation0.760.83
Beta (*)0.821
Alpha (annualized)2.97%0.00%
R Squared78.94%100.00%
Sharpe Ratio0.460.24
Sortino Ratio0.730.35
Treynor Ratio (%)6.352.91
Calmar Ratio0.550.51
Active Return2.49%N/A
Tracking Error5.59%N/A
Information Ratio0.45N/A
Skewness0-0.16
Excess Kurtosis-0.25-0.26
Historical Value-at-Risk (5%)-5.09%-6.02%
Analytical Value-at-Risk (5%)-4.78%-5.46%
Conditional Value-at-Risk (5%)-6.02%-7.06%
Upside Capture Ratio (%)93.18100
Downside Capture Ratio (%)78.12100
Safe Withdrawal Rate18.11%15.91%
Perpetual Withdrawal Rate3.74%1.41%
Positive Periods44 out of 72 (61.11%)39 out of 72 (54.17%)
Gain/Loss Ratio0.931.06
(*) Vanguard International Value Inv is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values.
Portfolio Returns Based Style Analysis
Style CategoryVoyager Foreign Large-ValueVanguard International Value Inv
Large-cap Value20.51%0.00%
Large-cap Growth0.00%0.00%
Mid-cap Value0.00%0.00%
Mid-cap Growth0.00%0.00%
Small-cap Value0.00%4.51%
Small-cap Growth0.00%0.00%
Global ex-US Developed Markets66.42%79.69%
Emerging Markets0.00%15.80%
REITs0.00%0.00%
Corporate Bonds13.06%0.00%
Long-Term Treasuries0.00%0.00%
Intermediate-Term Treasuries0.00%0.00%
Short-Term Treasuries0.00%0.00%
R Squared80.11%97.19%
Style analysis is based on monthly returns from Jan 2014 to Dec 2019 and uses total portfolio return with monthly rebalancing. Returns based style analysis aims to explain the portfolio returns based on asset class exposures, it does not identify the actual portfolio holdings.
Drawdowns
RankStartEndLengthRecovery ByRecovery TimeUnderwater PeriodDrawdown
1May-15Feb-1610 monthsDec-1610 months1 year 8 months-16.71%
2Aug-18Dec-185 monthsNov-1911 months1 year 4 months-13.67%
3Sep-14Dec-144 monthsApr-154 months8 months-8.01%
4Feb-18Mar-182 monthsJul-184 months6 months-6.40%
5Jan-14Jan-141 monthFeb-141 month2 months-4.47%
6Jul-14Jul-141 monthAug-141 month2 months-2.06%
7Aug-17Aug-171 monthSep-171 month2 months-0.80%
8Oct-17Oct-171 monthNov-171 month2 months-0.28%
Rolling Returns
YearVoyager Foreign Large-Value 3-year annualized returnVoyager Foreign Large-Value 5-year annualized returnVanguard International Value Inv 3-year annualized returnVanguard International Value Inv 5-year annualized return
20163.65%N/A-3.03%N/A
20178.40%N/A7.74%N/A
20184.99%2.59%4.54%-0.05%
20197.56%6.45%9.61%5.17%