VanEck Vectors Africa Index ETF
ALTAR
Score™
6.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
11.2x P/Sales
ratio
1.4x
P/BV
ratio
1.3x Div.
yield
4.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Africa Index ETF seeks investment results that correspond to the price and yield performance of the Dow Jones Africa Titans 50 Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Jul 14, 2008
Assets (mns) $46
Currency USD
Expense ratio 78 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 82
Wgt avg mkt cap (mns) $12,934
Large cap (>$10bn) 33.7%
Mid cap ($2-10bn) 47.2%
Small cap (<$2bn) 19.1%
Developed mkts 21.8%
Emerging mkts 78.2%

TOP TEN HOLDINGS
NASPERS LTD-N SHS 9.1 %
ATTIJARIWAFA BANK 6.3 %
SAFARICOM PLC 5.4 %
BARRICK GOLD CORP 4.1 %
BANQUE CENTRALE POPULAIRE 4.0 %
ANGLO AMERICAN PLC 3.8 %
GUARANTY TRUST BANK 3.7 %
MAROC TELECOM SA 3.6 %
EQUITY BANK LTD 3.0 %
CHINA MOLYBDENUM CO LTD-H 2.7 %
Total 45.6 %

TOP COUNTRY EXPOSURE
SOUTH AFRICA 31.2 %
MOROCCO 17.7 %
KENYA 9.9 %
BRITAIN 7.6 %
NIGERIA 7.6 %
CANADA 6.6 %
CHINA 2.7 %
UNITED STATES 2.6 %
INDIA 1.7 %
SINGAPORE 1.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.2% -6.5% -2.4% -0.8% -3.8%

Market Correlations
versus... Beta R-squared
S&P500 0.71 36%
MSCI EAFE 0.97 56%
MSCI Emg. Mkts. 0.85 76%

Technical Indicators
Recent close $18.90
30d moving avg. $19.83
Annualized volatility 14.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.6%
Bid/Ask (% of price) 0.37%
ADV underlying (mns) $1,548

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the VanEck Vectors Africa Index ETF ETF based on the alternatives' overlap in portfolio holdings with AFK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AFK Expense: 78 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AFK
Ticker Fund
Name
Overlap1
vs AFK
(%)
Expense
ratio
(bp)
Savings
vs AFK
(bp)
ALTAR
Score™
(%)
ALTAR
vs AFK
(%)
FLZA Franklin FTSE South Africa ETF 28.1 19 59 9.0 +2.2
EZA iShares MSCI South Africa ETF 26.9 59 19 8.5 +1.7
FM iShares MSCI Frontier 100 ETF 20.3 79 -1 9.3 +2.5
EMFM Global X MSCI Next Emerging & Frontier ETF 11.6 55 23 7.6 +0.8
FDNI First Trust Dow Jones International Internet ETF 9.1 65 13 2.9 -3.9
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 8.4 60 18 7.9 +1.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 8.4 86 -8 2.3 -4.5
GDX VanEck Vectors Gold Miners ETF 7.7 52 26 2.8 -4.0
NGE Global X MSCI Nigeria ETF 7.5 88 -10 21.5 +14.7
EDIV SPDR S&P Emerging Markets Dividend ETF 7.5 49 29 10.6 +3.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 7.1 20 58 7.6 +0.8
PICK iShares MSCI Global Metals & Mining Producers ETF 6.7 39 39 8.7 +1.9
FRDM Freedom 100 Emerging Markets ETF 6.6 49 29 7.3 +0.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.1 49 29 8.3 +1.5
EMXC iShares MSCI Emerging Markets ex China ETF 6.0 49 29 8.4 +1.6
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 5.9 50 28 9.1 +2.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 5.7 45 33 8.2 +1.3
EMEM Virtus Glovista Emerging Markets ETF 5.7 67 11 8.9 +2.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 5.3 49 29 8.8 +2.0
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 5.3 51 27 13.4 +6.5

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
VanEck Vectors Africa Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.6 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 78 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.48
 
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.