BNY Mellon Emerging Markets Equity ETF
ALTAR
Score™
7.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.0x P/Sales
ratio
1.7x
P/BV
ratio
1.7x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
BKEM is a passively managed fund with emerging market exposure to broad large-cap stocks, selected and weighted by market cap.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor The Bank of New York Mellon
Website im.bnymellon.com
Inception date Apr 24, 2020
Assets (mns) $38
Currency USD
Expense ratio 11 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 610
Wgt avg mkt cap (mns) $198,151
Large cap (>$10bn) 83.0%
Mid cap ($2-10bn) 14.4%
Small cap (<$2bn) 0.1%
Developed mkts 10.5%
Emerging mkts 86.9%

TOP TEN HOLDINGS
ISHARES MSCI INDIA ETF 9.7 %
ALIBABA GROUP HOLDING LTD. 7.5 %
TENCENT HOLDINGS LTD 7.1 %
TAIWAN SEMICONDUCTOR MANUFAC 5.0 %
SAMSUNG ELECTRONICS CO LTD 4.9 %
MEITUAN DIANPING 2.5 %
NASPERS LTD-N SHS 1.5 %
JD.COM INC-ADR 1.3 %
CHINA CONSTRUCTION BANK-H 1.2 %
PING AN INSURANCE GROUP CO-H 1.0 %
Total 41.7 %

TOP COUNTRY EXPOSURE
CHINA 37.8 %
SOUTH KOREA 13.4 %
TAIWAN 12.2 %
BRAZIL 4.3 %
HONG KONG 3.4 %
SOUTH AFRICA 3.3 %
RUSSIA 2.5 %
SAUDI ARABIA 2.3 %
MALAYSIA 1.8 %
THAILAND 1.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
11.7% -- -- -- 11.7%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $69.02
30d moving avg. $65.69
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.30%
ADV underlying (mns) $43,507

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the BNY Mellon Emerging Markets Equity ETF ETF based on the alternatives' overlap in portfolio holdings with BKEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BKEM Expense: 11 bp ALTAR Score™: 7.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BKEM
Ticker Fund
Name
Overlap1
vs BKEM
(%)
Expense
ratio
(bp)
Savings
vs BKEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs BKEM
(%)
EEM iShares MSCI Emerging Markets ETF 66.2 68 -57 7.0 -0.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 65.9 65 -54 7.0 -0.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 62.0 36 -25 7.7 -0.1
IEMG iShares Core MSCI Emerging Markets ETF 60.2 13 -2 7.5 -0.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 59.3 15 -4 8.2 +0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 59.3 30 -19 7.3 -0.5
SCHE Schwab Emerging Markets Equity ETF 58.0 11 0 7.5 -0.3
EEMA iShares MSCI Emerging Markets Asia ETF 57.9 50 -39 7.4 -0.4
JHEM John Hancock Multifactor Emerging Markets ETF 57.7 49 -38 8.3 +0.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 57.1 68 -57 6.7 -1.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 56.7 32 -21 5.7 -2.1
FLAX Franklin FTSE Asia Ex Japan ETF 56.2 19 -8 7.2 -0.6
EMXC iShares MSCI Emerging Markets ex China ETF 55.5 25 -14 7.4 -0.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 52.2 45 -34 7.2 -0.6
VWO Vanguard FTSE Emerging Markets ETF 50.9 10 1 7.6 -0.2
ESGE iShares ESG Aware MSCI EM ETF 50.5 25 -14 8.1 +0.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 47.7 59 -48 10.2 +2.4
SPEM SPDR Portfolio Emerging Markets ETF 45.8 11 0 7.3 -0.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 40.6 20 -9 6.3 -1.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 40.3 30 -19 8.2 +0.4
GMF SPDR S&P Emerging Asia Pacific ETF 40.3 49 -38 6.7 -1.1
PXH Invesco FTSE RAFI Emerging Markets ETF 39.7 50 -39 12.7 +4.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 39.5 49 -38 8.6 +0.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 39.2 49 -38 6.9 -0.9
LDEM iShares ESG MSCI EM Leaders ETF 39.0 16 -5 7.4 -0.4
BKF iShares MSCI BRIC ETF 38.3 69 -58 7.2 -0.6
DVEM WisdomTree Emerging Markets Dividend Fund 35.3 32 -21 7.0 -0.8
EEMO Invesco S&P Emerging Markets Momentum ETF 34.1 29 -18 4.0 -3.8
AVEM Avantis Emerging Markets Equity ETF 33.1 33 -22 8.1 +0.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 32.9 39 -28 12.2 +4.4
MCHI iShares MSCI China ETF 32.9 59 -48 7.6 -0.2
AIA iShares Asia 50 ETF 32.6 50 -39 7.2 -0.6
FLCH Franklin FTSE China ETF 32.5 19 -8 8.1 +0.3
GXC SPDR S&P China ETF 32.3 59 -48 7.5 -0.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 30.6 40 -29 6.9 -0.9
KALL KraneShares FTSE Emerging Markets Plus ETF 30.1 49 -38 7.6 -0.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 29.9 32 -21 8.1 +0.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 29.6 32 -21 6.1 -1.7
NUEM Nuveen ESG Emerging Markets Equity ETF 29.5 45 -34 6.4 -1.4
FDEM Fidelity Targeted Emerging Markets Factor ETF 28.1 45 -34 8.1 +0.3
CN Xtrackers MSCI All China Equity ETF 28.1 50 -39 7.8 +0.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 26.4 95 -84 8.2 +0.4
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 25.8 25 -14 7.6 -0.3
ISEM Invesco Strategic Emerging Markets ETF 25.7 35 -24 10.2 +2.4
ROAM Hartford Multifactor Emerging Markets ETF 25.3 44 -33 12.3 +4.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 24.6 44 -33 8.5 +0.7
XCEM Columbia EM Core ex-China ETF 24.4 16 -5 6.6 -1.2
CHIL Global X MSCI China Large-Cap 50 ETF 23.9 29 -18 7.6 -0.3
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 23.8 50 -39 10.1 +2.3
FXI iShares China Large-Cap ETF 23.7 74 -63 12.6 +4.8
ACWX iShares MSCI ACWI ex U.S. ETF 23.1 32 -21 6.7 -1.1
VSGX Vanguard ESG International Stock ETF 22.4 17 -6 6.7 -1.1
VYMI Vanguard International High Dividend Yield ETF 22.1 27 -16 9.4 +1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 20.8 40 -29 6.6 -1.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 20.6 16 -5 6.4 -1.4
BICK First Trust BICK Index Fund 19.4 64 -53 4.4 -3.4
EMMF WisdomTree Emerging Markets Multifactor Fund 18.9 48 -37 9.4 +1.6
IXUS ishares Core MSCI Total International Stock ETF 18.3 9 2 6.9 -0.9
RNEM Emerging Markets Equity Select ETF 17.5 75 -64 10.5 +2.7
VEU Vanguard FTSE All-World ex-US Index Fund 16.8 8 3 7.0 -0.8
EWEB Global X Emerging Markets Internet & E-commerce ETF 16.8 65 -54 2.9 -4.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.7 29 -18 9.6 +1.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 16.2 86 -75 2.6 -5.2
ECON Columbia Emerging Markets Consumer ETF 16.1 59 -48 5.2 -2.6
FDNI First Trust Dow Jones International Internet ETF 15.9 65 -54 2.4 -5.4
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 15.8 45 -34 13.5 +5.7
VXUS Vanguard Total International Stock Index Fund 15.2 8 3 7.0 -0.8
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 14.7 45 -34 8.8 +1.0
KESG KraneShares MSCI China ESG Leaders Index ETF 14.7 59 -48 9.5 +1.7
FRDM Freedom 100 Emerging Markets ETF 14.7 49 -38 5.9 -1.9
KWEB KraneShares CSI China Internet ETF 14.2 76 -65 2.7 -5.1
CWI SPDR MSCI ACWI ex-US ETF 14.1 30 -19 6.7 -1.1
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 13.8 60 -49 4.6 -3.2
PIE Invesco DWA Emerging Markets Momentum ETF 13.4 90 -79 4.7 -3.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 13.4 20 -9 10.5 +2.7
FLKR Franklin FTSE South Korea ETF 13.3 9 2 7.9 +0.1
EWY iShares MSCI South Korea ETF 12.7 59 -48 7.6 -0.3
TTTN UP Fintech China-U.S. Internet Titans ETF 12.5 59 -48 4.7 -3.1
FLTW Franklin FTSE Taiwan ETF 12.2 19 -8 5.8 -2.0
EWT iShares MSCI Taiwan ETF 12.2 59 -48 5.6 -2.2
CQQQ Invesco China Technology ETF 11.4 70 -59 5.7 -2.1
VIGI Vanguard International Dividend Appreciation ETF 10.8 20 -9 5.2 -2.6
DEM WisdomTree Emerging Markets High Dividend Fund 10.3 63 -52 13.4 +5.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 10.2 58 -47 5.5 -2.3
EMFM Global X MSCI Next Emerging & Frontier ETF 10.2 66 -55 8.1 +0.3
WUGI Esoterica NextG Economy ETF 10.1 75 -64 1.3 -6.5
ACWI iShares MSCI ACWI ETF 10.0 32 -21 5.4 -2.4
AIQ Global X Future Analytics Tech ETF 9.9 68 -57 3.8 -4.0
OGIG O'Shares Global Internet Giants ETF 9.8 48 -37 0.7 -7.1
VPL Vanguard FTSE Pacific ETF 9.6 8 3 6.8 -1.0
SOCL Global X Social Media ETF 9.2 65 -54 2.1 -5.7
CHIC Global X Nasdaq China Technology ETF 9.2 66 -55 5.5 -2.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 9.1 20 -9 5.6 -2.2
PEK VanEck Vectors ChinaAMC CSI 300 ETF 9.0 60 -49 4.7 -3.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 8.4 20 -9 5.6 -2.2
IXP iShares Global Comm Services ETF 8.4 46 -35 5.5 -2.3
IXN iShares Global Tech ETF 8.4 46 -35 4.2 -3.6

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:
BNY Mellon Emerging Markets Equity ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.9 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 11 bp
Equals: ALTAR Score 7.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.32 CATEGORY
AVERAGE
1.40
 
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.