Voyager Foreign Small/Mid-Value

Voyager Accounts: International Equity

Summary

The Voyager Foreign Small/Mid Value Account invests in international stocks that are smaller and less expensive as compared to other stocks. The portfolio manager primarily invest in stocks that fall in the bottom 30% 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 its assets in U.S. stocks.

Benchmark: S&P Developed Ex-U.S. SmallCap Select Index (USD)

Core Facts

Asset Class International Equity
Category Foreign Small/Mid-Value
Expense Ratio [1] 0.0%
Commissions [2] 0.0%
Fee [3] 0.40%
Minimum investment [4] $1000 US
Account number IE104
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
BE Semiconductor Industries N.V.4.56%27.89--
Persimmon Plc8.25%2,602.00276.670.10
Vistry Group PLC4.84%1,114.3891.770.14
Azimut Holding S.p.A.4.98%13.161.1221.14
Bouygues SA4.50%39.772.9312.94
SSE plc6.20%1,324.00100.490.15
Freenet AG8.15%---

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 Date1/1/17
End Date12/31/19
Initial Balance$10,000
Periodic AdjustmentNone
RebalancingRebalance quarterly
Reinvest DividendsYes
BenchmarkInvesco FTSE RAFI US 1500 Small-Mid ETF
Portfolio Performance
MetricVoyager Foreign Small/Mid-ValueInvesco FTSE RAFI US 1500 Small-Mid ETF
Start Balance$10,000 $10,000
End Balance$12,962 $12,274
End Balance (inflation adjusted)$12,178 $11,531
CAGR9.03%7.07%
CAGR (inflation adjusted)6.79%4.86%
Stdev11.63%15.76%
Best Year29.40%21.75%
Worst Year-16.71%-11.42%
Max. Drawdown-20.70%-21.60%
Sharpe Ratio0.660.41
Sortino Ratio0.970.56
US Stock Market Correlation0.810.91
Risk and Return Metrics
MetricVoyager Foreign Small/Mid-ValueInvesco FTSE RAFI US 1500 Small-Mid ETF
Arithmetic Mean (monthly)0.78%0.67%
Arithmetic Mean (annualized)9.75%8.39%
Geometric Mean (monthly)0.72%0.57%
Geometric Mean (annualized)9.03%7.07%
Volatility (monthly)3.36%4.55%
Volatility (annualized)11.63%15.76%
Downside Deviation (monthly)2.21%3.27%
Max. Drawdown-20.70%-21.60%
US Market Correlation0.810.91
Beta (*)0.541
Alpha (annualized)5.01%0.00%
R Squared52.86%100.00%
Sharpe Ratio0.660.41
Sortino Ratio0.970.56
Treynor Ratio (%)14.396.46
Calmar Ratio0.440.33
Active Return1.96%N/A
Tracking Error10.82%N/A
Information Ratio0.18N/A
Skewness-0.67-0.88
Excess Kurtosis0.681.64
Historical Value-at-Risk (5%)-6.21%-10.17%
Analytical Value-at-Risk (5%)-4.67%-6.81%
Conditional Value-at-Risk (5%)-8.29%-11.84%
Upside Capture Ratio (%)58.4100
Downside Capture Ratio (%)37.37100
Safe Withdrawal Rate38.82%35.76%
Perpetual Withdrawal Rate6.36%4.64%
Positive Periods25 out of 36 (69.44%)25 out of 36 (69.44%)
Gain/Loss Ratio0.780.65
(*) Invesco FTSE RAFI US 1500 Small-Mid ETF is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values.
Portfolio Returns Based Style Analysis
Style CategoryVoyager Foreign Small/Mid-ValueInvesco FTSE RAFI US 1500 Small-Mid ETF
Large-cap Value0.00%0.00%
Large-cap Growth0.00%0.00%
Mid-cap Value0.00%15.11%
Mid-cap Growth0.00%8.67%
Small-cap Value4.82%51.77%
Small-cap Growth0.00%19.81%
Global ex-US Developed Markets74.75%2.19%
Emerging Markets20.03%0.00%
REITs0.00%0.00%
Corporate Bonds0.00%0.00%
Long-Term Treasuries0.00%0.00%
Intermediate-Term Treasuries0.00%0.00%
Short-Term Treasuries0.40%2.44%
R Squared96.39%98.81%
Style analysis is based on monthly returns from Jan 2017 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.
Asset Allocation
CategoryWeight
US Stocks0.40%
Intl Stocks98.89%
US Bonds0.00%
Intl Bonds0.00%
Other0.08%
Cash0.63%
Equity Market Capitalization
CategoryWeight
Large Cap15.73%
Mid Cap41.62%
Small Cap42.65%
Stock Sectors
CategoryWeight
Basic Materials10.92%
Consumer Cyclical12.97%
Financial Services18.43%
Real Estate5.93%
Consumer Defensive5.82%
Healthcare3.54%
Utilities5.64%
Communication Services5.44%
Energy5.20%
Industrials19.82%
Technology6.30%
Drawdowns
RankStartEndLengthRecovery ByRecovery TimeUnderwater PeriodDrawdown
1Feb-18Dec-1811 months-20.70%