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  • ETF
  • CHEP
    Pricing Data
    $23.94
    Change: $0.12 (0.01%)
    Time: 09/28/16
    Previous Close: $23.82
  • Category
  • Long-Short
Last Updated:

Profile

Vitals

Trading Data

Open: - Volume -
Day Lo - Day Hi -
  • 52 Week Lo: $22.19
  • 52 Week Hi: $25.92
  • AUM: $2.4 M
  • Shares: 0.1 M

Investment Themes

Historical Trading Data

  • 1 Month Avg. Volume: 6,795
  • 3 Month Avg. Volume: 5,666

Alternative ETFs in the Long-Short Category

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Type Ticker Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest
Largest (AUM)
Most Liquid (Volume)
Top YTD Performer

Analyst Report

This ETF is part of a suite of "market neutral" products offered by QuantShares, a unique lineup of funds that has the potential to appreciate (or lose value) in any type of market. Because CHEP maintains equal long and short dollar positions, its performance is independent of the overall market; rather, it depends on how certain sub-sets of the U.S. equity market perform relative to one another. As such, these securities can be used in a number of different ways. Since they should exhibit very low correlations to both stock and bond markets, some may see CHEP as a tool for smoothing out portfolio volatility--essentially a diversifying agent within traditional stock-and-bond portfolios. Others who believe the methodology has the potential to exploit market inefficiencies may see it as a means of generating alpha over both long and short time periods. Specifically, CHEP gives investors a way to bet that stocks with below-average valuations based on ratios such as earnings to price, book to price, and cash flow from operations to price will outperform peers with above-average valuations based on the same ratios. This strategy is, of course, nothing new; investors have been implementing long-short strategies for decades. But the availability of this strategy within the ETF wrapper is a new innovation; it gives investors an opportunity to access a technique that may be time consuming and quite expensive if implemented individually through a single ticker symbol. There are a couple interesting aspects of CHEP (and all QuantShares ETFs for that matter). The underlying portfolios are sector neutral, which ensures that the fund isn't simply long in one sector and short another; rather, CHEP consists of both long and short positions in each sector of the market. Moreover, individual positions are equal weighted, which ensures that no one stock will dominate either the long or short positions in the portfolio. For investors who are seeking a low maintenance way to access this long/short strategy, CHEP could be an attractive option. The most significant drawback we see is the relatively high expense ratio. Because the underlying portfolio is market neutral, it would be reasonable to expect that long-term performance, before fees, should be close to zero. After taking out 80 basis points or so in expenses, that makes it likely that CHEP will lose money over the long haul.

Realtime Rating

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Realtime Rating Summary

The adjacent table gives investors an individual Realtime Rating for CHEP on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Long-Short with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Compare to another ETF

View the Category Report

CHEP Overall Realtime Rating:

A+ Overall Rated ETF:

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity B RALS
Expenses C+ CSLS
Performance
Volatility
Dividend
Concentration

Knowledge Centers

CHEP In-Depth Analysis

The following tables and charts contain in-depth metrics for this ETF and compare it to similar peer ETFs within its ETFdb Category.

CHEP Holdings

Filings Data as of: Sep 05, 2016
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Concentration Analysis

This section compares how balanced and deep this ETF is relative to the peer group ETFdb Category.

Number of Holdings
Rank:
203
Category Low
Category High
% Assets in Top 10
Rank:
33.07%
Category Low
Category High

CHEP Expenses & Fees

This section compares the cost efficiency of this ETF to peers in the same ETFdb Category.

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Expenses Ratio Analysis

ETF Average
0.576%
ETF Wtd. Average
0.26%
Category Average
0.92%
Expense Ratio
Rank:
1.49%
Category Low
Category High

Commission Free Trading

This ETF is not currently available for commission free trading on any platforms.

Category Commission Free Trading

There are 2 other ETFs in the Long-Short ETFdb Category that are also eligible for commission free trading:

CHEP Performance

This section shows how this ETF has performed relative to its peer group ETFdb Category.

1 Week Return
Rank:
0.46%
Category Low
Category High
4 Week Return
Rank:
-0.21%
Category Low
Category High
13 Week Return
Rank:
3.50%
Category Low
Category High
26 Week Return
Rank:
-7.42%
Category Low
Category High
Year to Date Return
Rank:
-0.99%
Category Low
Category High
1 Year Return
Rank:
-5.08%
Category Low
Category High
3 Year Return
Rank:
-8.06%
Category Low
Category High
5 Year Return
Rank:
1.30%
Category Low
Category High

Charts

The following charts can be customized to display historical performance in a number of different formats, including line charts, bar charts, and candlesticks. Time periods can be adjusted to increase or decrease the period shown, ranging from five minutes to several months.

The following chart also includes the option to compare the performance of CHEP relative to other ETFs and benchmarks or to include indicators such as Bollinger Bands, relative strength, and moving averages.

CHEP Valuation

This section shows how the P/E multiple of this ETF compares to the peer group ETFdb Category.

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P/E Ratio
Rank:
11.79
Category Low
Category High

CHEP Dividend

This section shows how the dividend yield of this ETF compares to the peer group ETFdb Category.

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Dividend
$0.71
Dividend Date
2012-09-14
Annual Dividend Rate
n/a
Annual Dividend Yield
Rank:
2.73%
Category Low
Category High

CHEP Technicals

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Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETFdb Category.

5 Day Volatility
Rank:
43.74%
Category Low
Category High
20 Day Volatility
Rank:
7.48%
Category Low
Category High
50 Day Volatility
Rank:
15.51%
Category Low
Category High
200 Day Volatility
Rank:
20.00%
Category Low
Category High
Beta
Rank:
-1.5
Category Low
Category High
Standard Deviation
Rank:
0.90%
Category Low
Category High

Technicals

  • 20 Day MA: $23.82
  • 60 Day MA: $23.65
  • MACD 15 Period: 0.10
  • MACD 100 Period: -0.30
  • Williams % Range 10 Day: 52.46
  • Williams % Range 20 Day: 36.03
  • RSI 10 Day: 57
  • RSI 20 Day: 53
  • RSI 30 Day: 51
  • Ultimate Oscillator: 57

Bollinger Brands

  • Lower Bollinger (10 Day): $23.75
  • Upper Bollinger (10 Day): $23.98
  • Lower Bollinger (20 Day): $23.57
  • Upper Bollinger (20 Day): $24.03
  • Lower Bollinger (30 Day): $23.33
  • Upper Bollinger (30 Day): $24.15

Support & Resistance

  • Support Level 1: $23.71
  • Support Level 2: $23.48
  • Resistance Level 1: $24.11
  • Resistance Level 2: $24.28

Stochastic

  • Stochastic Oscillator %D (1 Day): 46.30
  • Stochastic Oscillator %D (5 Day): 48.97
  • Stochastic Oscillator %K (1 Day): 47.67
  • Stochastic Oscillator %K (5 Day): 43.16

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETFdb.com. Information contained within the fact sheet is not guaranteed to be timely or accurate.

2014 Morningstar, Inc. All Rights Reserved. The information contained herein: ( 1 ) is proprietary to Morningstar and/or its content providers; ( 2 ) may not be copied or distributed; and ( 3 ) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.