Astoria has recently created a new tool that provides further insights into our various stock portfolios, available on our website and updated on a monthly basis. Head to the Tools section of our website (click here), scroll down to the section called Stock Portfolios & Universe Data on the bottom right, and click the link seen below. If you need the password for this section of our website, please contact us:
In this dashboard, you will come across four main sections:
1. Stock Portfolio Comparisons
Here you can view and compare portfolio level metrics spanning various factors, such as valuation, quality, or dividend, across all our stock portfolios.
For instance, we can see that the Forward PE of Large-Cap Value is cheaper than that of High Growth (11.2 vs. 19.0).
We can also see that out of the 10 US stock portfolios Astoria manages, High Dividend Yield, Cyclicals, Small-Cap Quality Growth, Large-Cap Value, and Mid-Cap Quality Growth are the only portfolios trading at a discount to the market (SPY PE = approx. 17). Growth stocks (while having their valuations compressed) still remain expensive. The same goes for High Quality and Defensive Equity (although these typically stay expensive as the cycle turns south). Our view is that as long as the terminal rate stays high, we will be in a period of value outperforming growth. Our preference is to tilt away from US index, growth, defensives and towards value, small/mid-cap, and Non-US.
Additionally, although the yield of our High Dividend Yield Portfolio is greater than that of our Dividend Growers Portfolio (3.7% and 2.7%, respectively), we can conclude that our Dividend Growers Portfolio has higher quality characteristics:
Dividend Growers ROIC, ROA, and ROE = 20%, 10%, and 32%, respectively
High Dividend Yield ROIC, ROA, and ROE = 15%, 6%, and 30%, respectively
Lower on the sheet, there is an earnings summary for each stock portfolio detailing the percentage of stocks within each portfolio that beat earnings estimates, and how much the average beat was.
2. Constituent Level Data
Here you will find each stock within a stock portfolio, as well as constituent level data such as GICS sector/industry, FactSet ratings, market value, and metrics across the various factors previously described.
Within these sheets, we also include trailing returns for each stock on a 1-year, 3-month, 1-month, 10-day, and 5-day basis.
3. ETF Comparisons
Using aggregate statistics, this section of the dashboard can be used to compare metrics across factors for Astoria’s stock portfolios versus the market via SPY or similar themed/benchmark-like ETFs.
As an example, our Large-Cap Value portfolio ranks cheaper than SPY and comparable value ETFs (IWD, SPYV, VTV) across several valuation metrics.
Moreover, our Mid-Cap Quality Growth portfolio demonstrates higher quality characteristics than SPY and comparable mid-cap ETFs (IWR, SPMD, VO).
4. Earnings Monitors
This section provides earnings information, including release times, earnings estimates, actual reported earnings, and hit or miss percentages, for each stock within a portfolio.
It also describes the portion of the portfolio that has reported, how many stocks beat, and what the average beat was on a portfolio level basis. As seen below, 100% of the stocks in Dividend Growers that have reported earnings for Q4 2022 have beat earnings estimates by 5% on average.
Source: FactSet. Metric and return data as of 12/30/2022. All ratio data retrieved is based on a quarterly last twelve months basis unless otherwise denoted. All estimate data retrieved is based on a next twelve months basis unless otherwise denoted. All return info is as of 12/30/2022 and is calculated in USD. Portfolio level momentum metrics and standard deviation of EPS over the past 10 years are based on averages of individual stock metrics. These portfolio level metrics only represent the current portfolio constituents and do not reflect past rebalances or actual account performance. All earnings data retrieved on 1/20/2023. Past performance is not indicative of future results.
Photo Source: Astoria Portfolio Advisors