BLDRs Asia 50 ADR
ALTAR
Score™
8.7% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
12.5x P/Sales
ratio
1.2x
P/BV
ratio
1.3x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
BLDRS Asia 50 ADR Index Fund is a unit investment trust incorporated in the USA. The fund's objective seeks investment results that generally correspond to the price and yield performance of The Bank of New York Asia 50 ADR Index, which is a capitalization-weighted index designed to track the performance of approximately 50 Asian market-based depository receipts.

FUND BASICS
Category International Equities
Fund Sponsor Bank of New York
Website www.powershares.com
Inception date Nov 13, 2002
Assets (mns) $19
Currency USD
Expense ratio 30 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $191,260
Large cap (>$10bn) 98.2%
Mid cap ($2-10bn) 1.5%
Small cap (<$2bn) 0.0%
Developed mkts 45.3%
Emerging mkts 54.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 18.6 %
TAIWAN SEMICONDUCTOR-SP ADR 11.5 %
TOYOTA MOTOR CORP -SPON ADR 9.5 %
SONY CORP-SPONSORED ADR 4.7 %
BHP BILLITON LTD-SPON ADR 4.3 %
HDFC BANK LTD-ADR 4.3 %
MITSUBISHI UFJ FINL GRP-ADR 3.6 %
TAKEDA PHARMACEUTICAL CO. LTD. SPO 3.3 %
WESTPAC BANKING CORP-SP ADR 3.1 %
HONDA MOTOR CO LTD-SPONS ADR 2.6 %
Total 65.5 %

TOP COUNTRY EXPOSURE
CHINA 32.3 %
JAPAN 30.7 %
TAIWAN 12.9 %
INDIA 7.9 %
AUSTRALIA 7.4 %
HONG KONG 4.5 %
SOUTH KOREA 3.1 %
INDONESIA 0.7 %
SINGAPORE 0.4 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
23.6% 23.6% 6.3% 5.5% 7.8%

Market Correlations
versus... Beta R-squared
S&P500 0.97 70%
MSCI EAFE 1.14 80%
MSCI Emg. Mkts. 0.87 81%

Technical Indicators
Recent close $34.87
30d moving avg. $34.85
Annualized volatility 14.0%
Short interest (ETF) 0.0%
Short interest (Underlying) 0.8%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.43%
ADV underlying (mns) $5,217

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the BLDRs Asia 50 ADR ETF based on the alternatives' overlap in portfolio holdings with ADRA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ADRA Expense: 30 bp ALTAR Score™: 8.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ADRA
Ticker Fund
Name
Overlap1
vs ADRA
(%)
Expense
ratio
(bp)
Savings
vs ADRA
(bp)
ALTAR
Score™
(%)
ALTAR
vs ADRA
(%)
ADRE BLDRs Emerging Markets 50 ADR 60.4 30 0 5.9 -2.8
FNI First Trust ISE Chindia 29.8 59 -29 3.8 -5.0
EEB Invesco BRIC 27.3 64 -34 6.3 -2.5
FLCH Franklin FTSE China 27.1 19 11 8.9 +0.2
MCHI iShares MSCI China 25.6 59 -29 8.5 -0.3
CXSE WisdomTree China ex-State Owned Enterprises 23.7 32 -2 6.5 -2.3
PGJ Invesco Golden Dragon China 22.5 70 -40 3.4 -5.3
GXC SPDR S&P China ETF 22.0 59 -29 8.5 -0.2
KWEB KraneShares CSI China Internet 19.0 76 -46 3.7 -5.0
ADRD BLDRs Developed Markets 100 ADR 18.6 30 0 8.8 +0.0
GMF SPDR S&P Emerging Asia Pacific 18.2 49 -19 7.6 -1.1
KALL KraneShares MSCI China All Shares 18.2 49 -19 8.5 -0.2
FDNI First Trust Dow Jones International Internet 17.9 65 -35 3.9 -4.9
CHIL Global X MSCI China Large-Cap 50 17.8 29 1 9.8 +1.1
CN Xtrackers Harvest MSCI All China 17.4 50 -20 8.7 -0.1
EMQQ Emerging Markets Internet & E-Commerce 16.4 86 -56 3.3 -5.4
BKF iShares MSCI BRIC 16.3 67 -37 7.9 -0.9
WCHN WisdomTree ICBCCS S&P China 500 16.1 55 -25 8.5 -0.3
CHIQ Global X MSCI China Consumer Discretionary 15.4 65 -35 5.1 -3.7
PNQI Invesco Nasdaq Internet 15.4 62 -32 2.5 -6.3

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
BLDRs Asia 50 ADR
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.1 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 8.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 CATEGORY
AVERAGE
1.63
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.