MXDUNationwide Maximum Diversification U.S. Core Equity ETF
MXDU Fund Description
MXDU tracks an index of US companies, excluding those with business practices that contradict certain socially responsible investment values. The fund is optimized to maximize a proprietary measure of diversification.
MXDU Factset Analytics Insight
MXDU provides a portfolio of low-correlation US stocks while excluding firms that do not align with the index providers definition of socially responsible investing principles. The funds index screens the eligible universe of large- and midcap companies, removing those involved in the production of controversial weapons, tobacco, or coal, and those engaged in human rights violations, environmental damage, corruption, or other serious ethical violations. Next, the index uses a mathematical model to minimize the covariance between its constituents, resulting in a portfolio of stocks with low or negative correlations to each other. This is the maximum diversification alluded to in the funds name but note that MXDU may not be especially diversified by more traditional measures. The model applies constraints to ensure that the portfolio does not stray too far from market weights, but these are loose enough that significant tilts are still possible. The index is reconstituted quarterly.
MXDU MSCI ESG Analytics Insight
Nationwide Maximum Diversification U.S. Core Equity ETF has an MSCI ESG Fund Rating of A based on a score of 6.26 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Nationwide Maximum Diversification U.S. Core Equity ETF ranks in the 47th percentile within its peer group and in the 46th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
MXDU MSCI FaCS and Factor Box
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.
MXDU Summary Data
MXDU Portfolio Data
MXDU Index Data
MXDU Portfolio Management
MXDU Tax Exposures
MXDU Fund Structure
MXDU Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of MXDU. MXDU is rated a 4 out of 5.
MXDU Sector/Industry Breakdown
MXDU Economic Development
MXDU Performance Statistics
MXDU MSCI ESG Ratings
MXDU Benchmark Comparison Summary
MXDU Benchmark Comparison Market Cap Size