Global X MSCI Argentina ETF
ALTAR
Score™
4.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
131.6x P/Sales
ratio
1.2x
P/BV
ratio
1.4x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X FTSE Argentina 20 ETF seeks to track the performance of the FTSE Argentina 20 Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Mar 02, 2011
Assets (mns) $50
Currency USD
Expense ratio 60 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $16,720
Large cap (>$10bn) 31.6%
Mid cap ($2-10bn) 45.9%
Small cap (<$2bn) 20.3%
Developed mkts 25.3%
Emerging mkts 74.4%

TOP TEN HOLDINGS
MERCADOLIBRE INC 24.6 %
GLOBANT SA 16.0 %
GRUPO FINANCIERO GALICIA-ADR 7.5 %
YPF S.A.-SPONSORED ADR 5.1 %
BANCO MACRO SA-ADR 4.3 %
CENCOSUD SA 4.0 %
TELECOM ARGENTINA SA SPONSORED ADR 4.0 %
ARCOS DORADOS HOLDINGS INC-A 3.6 %
CIA CERVECERIAS UNIDAS SA 3.4 %
SSR MINING INC 3.2 %
Total 75.7 %

TOP COUNTRY EXPOSURE
ARGENTINA 63.2 %
LUXEMBOURG 19.3 %
CHILE 10.5 %
URUGUAY 3.6 %
CANADA 3.2 %
UNITED KINGDOM 0.3 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.0% -17.5% 8.6% -- -0.7%

Market Correlations
versus... Beta R-squared
S&P500 1.37 37%
MSCI EAFE 1.76 51%
MSCI Emg. Mkts. 1.37 51%

Technical Indicators
Recent close $27.96
30d moving avg. $25.90
Annualized volatility 39.0%
Short interest (ETF) 3.2%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 18
Turnover 1.0%
Bid/Ask (% of price) 0.47%
ADV underlying (mns) $632

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Global X MSCI Argentina ETF ETF based on the alternatives' overlap in portfolio holdings with ARGT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ARGT Expense: 60 bp ALTAR Score™: 4.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ARGT
Ticker Fund
Name
Overlap1
vs ARGT
(%)
Expense
ratio
(bp)
Savings
vs ARGT
(bp)
ALTAR
Score™
(%)
ALTAR
vs ARGT
(%)
AGT iShares MSCI Argentina & Global Exposure ETF A 100.2 59 1 4.5 +0.0
ECH iShares MSCI Chile ETF 9.6 59 1 7.9 +3.4
AADR AdvisorShares Dorsey Wright ADR ETF 6.3 110 -50 2.9 -1.7
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 6.3 86 -26 2.0 -2.5
ARKF ARK Fintech Innovation ETF 5.6 75 -15 0.4 -4.1
EBIZ Global X E-Commerce ETF 5.3 50 10 2.4 -2.1
TTTN UP Fintech China-U.S. Internet Titans ETF 4.5 59 1 4.0 -0.5
XBUY Amplify International Online Retail ETF 4.5 69 -9 -0.5 -5.0
BUYZ Franklin Disruptive Commerce ETF 4.1 50 10 -0.3 -4.8
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 4.0 80 -20 3.7 -0.8
GOEX Global X Gold Explorers ETF 3.4 65 -5 2.5 -2.0
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 3.4 60 0 2.0 -2.5
SLVP iShares MSCI Global Silver Miners ETF 3.4 39 21 1.2 -3.3
SIL Global X Silver Miners ETF 3.4 66 -6 1.2 -3.3
SILJ ETFMG Prime Junior Silver ETF 3.4 69 -9 0.2 -4.3
GIGE SoFi Gig Economy ETF 3.1 59 1 -0.7 -5.2
PNQI Invesco NASDAQ Internet ETF 2.7 62 -2 1.0 -3.5
AWAY ETFMG Travel Tech ETF 2.6 75 -15 0.6 -3.9
GVAL Cambria Global Value ETF 2.5 69 -9 11.4 +6.9
FLN First Trust Latin America AlphaDEX Fund 2.5 80 -20 7.4 +2.9
PLAT WisdomTree Modern Tech Platforms Fund 2.3 45 15 1.0 -3.5
VRAI Virtus Real Asset Income ETF 2.3 55 5 11.6 +7.1
ONLN ProShares Online Retail ETF 2.2 58 2 0.8 -3.7
SDIV Global X SuperDividend ETF 2.2 59 1 13.3 +8.8
PID Invesco International Dividend Achievers ETF 2.2 54 6 9.4 +4.9
JKH iShares Morningstar Mid-Cap Growth ETF 2.1 30 30 2.1 -2.4
ARKW ARK Web x.0 ETF 1.9 76 -16 -0.8 -5.3
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 1.9 60 0 3.5 -1.0
OGIG O'Shares Global Internet Giants ETF 1.8 48 12 0.6 -3.9
FXL First Trust Technology AlphaDEX Fund 1.8 61 -1 3.2 -1.3
NULC Nuveen ESG Large-Cap ETF 1.7 20 40 4.8 +0.3
AIIQ AI Powered International Equity ETF 1.5 79 -19 3.7 -0.8
SGDM Sprott Gold Miners ETF 1.5 50 10 2.3 -2.3
BRF VanEck Vectors Brazil Small-Cap ETF 1.5 63 -3 3.1 -1.4
RING iShares MSCI Global Gold Miners ETF 1.4 39 21 2.8 -1.8
THNQ ROBO Global Artificial Intelligence ETF 1.4 68 -8 1.5 -3.0
VFMO Vanguard U.S. Momentum Factor ETF 1.3 13 47 0.1 -4.4
VCR Vanguard Consumer Discretionary Index Fund 1.3 10 50 3.9 -0.6
FDIS Fidelity MSCI Consumer Discretionary Index ETF 1.3 8 52 3.4 -1.1
CROP IQ Global Agribusiness Small Cap ETF 1.3 76 -16 4.8 +0.3
IBUY Amplify Online Retail ETF 1.3 65 -5 -1.4 -5.9
ROAM Hartford Multifactor Emerging Markets ETF 1.3 44 16 14.5 +10.0
GBUY Goldman Sachs Motif New Age Consumer ETF 1.2 50 10 1.7 -2.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.2 95 -35 9.0 +4.5
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 1.1 59 1 4.0 -0.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.1 35 25 4.3 -0.2
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 1.0 75 -15 1.2 -3.3
LVIN Hartford Multifactor Low Volatility International Equity ETF 1.0 29 31 12.2 +7.7
NULG Nuveen ESG Large-Cap Growth ETF 0.9 35 25 3.5 -1.0
XT iShares Exponential Technologies ETF 0.9 47 13 4.9 +0.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.9 69 -9 7.5 +3.0
IEDI iShares Evolved U.S. Discretionary Spending ETF 0.8 18 42 3.5 -1.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.8 4 56 5.4 +0.9
GFIN Goldman Sachs Motif Finance Reimagined ETF 0.8 50 10 5.1 +0.6
QLV FlexShares US Quality Low Volatility Index Fund 0.7 22 38 4.6 +0.1
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 0.7 45 15 13.0 +8.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.7 70 -10 13.2 +8.7
FLLA Franklin FTSE Latin America ETF 0.7 19 41 6.6 +2.1
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.7 70 -10 2.3 -2.2
ILF iShares Latin America 40 ETF 0.7 48 12 6.8 +2.3
ECON Columbia Emerging Markets Consumer ETF 0.7 59 1 4.4 -0.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 0.7 45 15 9.4 +4.9
EMFM Global X MSCI Next Emerging & Frontier ETF 0.5 66 -6 9.1 +4.6
QYLD Global X NASDAQ 100 Covered Call ETF 0.5 60 0 3.4 -1.1
QQQ Invesco QQQ Trust 0.5 20 40 3.7 -0.8
KOMP SPDR Kensho New Economies Composite ETF 0.5 20 40 2.4 -2.1
NUSI Nationwide Risk-Managed Income ETF 0.5 68 -8 3.3 -1.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.4 45 15 7.7 +3.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.4 32 28 8.8 +4.3
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 0.4 21 39 3.0 -1.5
EMXC iShares MSCI Emerging Markets ex China ETF 0.4 25 35 8.0 +3.5
JHSC John Hancock Multifactor Small Cap ETF 0.4 42 18 5.6 +1.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 0.4 10 50 5.2 +0.7
SUSL iShares ESG MSCI USA Leaders ETF 0.3 10 50 5.2 +0.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 0.3 45 15 8.6 +4.1
IETC iShares Evolved U.S. Technology ETF 0.3 18 42 3.6 -0.9
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.3 39 21 4.0 -0.5
XCEM Columbia EM Core ex-China ETF 0.3 16 44 7.2 +2.7
FEM First Trust Emerging Markets AlphaDEX Fund 0.3 80 -20 12.5 +8.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.3 39 21 12.7 +8.2
IEMG iShares Core MSCI Emerging Markets ETF 0.3 13 47 7.7 +3.2
IQSU IQ Candriam ESG US Equity ETF 0.3 9 51 4.9 +0.4
ESGE iShares ESG MSCI EM ETF 0.2 25 35 8.4 +3.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.2 36 24 7.9 +3.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.2 49 11 7.7 +3.2
DVEM WisdomTree Emerging Markets Dividend Fund 0.2 32 28 8.1 +3.6
GWX SPDR S&P International Small Cap ETF 0.2 40 20 6.5 +2.0
IWP iShares Russell Mid-Cap Growth ETF 0.2 24 36 2.8 -1.7
ESGV Vanguard ESG U.S. Stock ETF 0.2 12 48 4.9 +0.4
ESGU iShares MSCI USA ESG Optimized ETF 0.2 15 45 4.9 +0.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.2 20 40 6.5 +2.0
EEM iShares MSCI Emerging Markets ETF 0.2 68 -8 7.2 +2.7
EUSA iShares MSCI USA Equal Weighted ETF 0.2 15 45 6.0 +1.5
ISDS Invesco Strategic Developed ex-US Small Company ETF 0.2 35 25 6.8 +2.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.2 7 53 5.0 +0.5
SIZE iShares Edge MSCI USA Size Factor ETF 0.2 15 45 6.1 +1.6
FNDA Schwab Fundamental U.S. Small Co. Index ETF 0.2 25 35 6.2 +1.7

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:
Global X MSCI Argentina ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.45
 
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.