BNY Mellon International Equity ETF
ALTAR
Score™		 7.4% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 20.6x P/Sales
ratio		 1.4x
P/BV
ratio		 1.5x Div.
yield		 2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
BKIE tracks a market-cap weighted index of large-caps in the Developed Markets outside of US.

FUND BASICS
Category International Equities
Fund Sponsor The Bank of New York Mellon
Website im.bnymellon.com
Inception date Apr 24, 2020
Assets (mns) $33
Currency USD
Expense ratio 4 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 614
Wgt avg mkt cap (mns) $66,974
Large cap (>$10bn) 92.7%
Mid cap ($2-10bn) 6.8%
Small cap (<$2bn) 0.0%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
NESTLE SA-REG 2.6 %
ROCHE HOLDING AG-GENUSSCHEIN 1.8 %
NOVARTIS AG-REG 1.5 %
TOYOTA MOTOR CORP 1.1 %
ASML HOLDING NV 1.1 %
ASTRAZENECA PLC 1.1 %
SANOFI-AVENTIS 0.9 %
LVMH MOET HENNESSY LOUIS VUI 0.9 %
SHOPIFY, INC. CLASS A 0.8 %
SOFTBANK GROUP CORP. 0.8 %
Total 12.7 %

TOP COUNTRY EXPOSURE
JAPAN 23.4 %
BRITAIN 11.6 %
SWITZERLAND 10.4 %
FRANCE 9.0 %
CANADA 8.9 %
GERMANY 7.1 %
AUSTRALIA 5.8 %
NETHERLANDS 4.4 %
SWEDEN 2.9 %
HONG KONG 2.4 %

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.
1.8% -- -- -- 1.8%

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

Technical Indicators
Recent close $59.41
30d moving avg. $58.32
Annualized volatility 0.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $54,059

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the BNY Mellon International Equity ETF ETF based on the alternatives' overlap in portfolio holdings with BKIE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BKIE Expense: 4 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BKIE
Ticker Fund
Name		 Overlap1
vs BKIE
(%)		 Expense
ratio
(bp)		 Savings
vs BKIE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs BKIE
(%)
GSID Goldman Sachs MarketBeta International Equity ETF 83.9 20 -16 7.4 +0.0
EFA iShares MSCI EAFE ETF 83.8 32 -28 7.1 -0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 83.7 35 -31 6.9 -0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 80.2 20 -16 7.4 +0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 78.4 20 -16 7.1 -0.3
SCHF Schwab International Equity ETF 77.5 6 -2 7.4 0.0
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 76.8 7 -3 7.6 +0.2
IEFA iShares Core MSCI EAFE ETF 73.4 7 -3 7.3 -0.0
IDEV iShares Core MSCI International Developed Markets ETF 73.0 5 -1 7.2 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 70.0 4 0 7.1 -0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 68.5 20 -16 6.9 -0.4
VEA Vanguard FTSE Developed Markets ETF 67.6 5 -1 7.4 +0.0
JHMD John Hancock Multifactor Developed International ETF 65.8 39 -35 7.5 +0.1
IQSI IQ Candriam ESG International Equity ETF 65.3 15 -11 7.3 -0.1
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 64.2 35 -31 7.1 -0.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 62.8 45 -41 8.9 +1.5
QEFA SPDR MSCI EAFE Quality Mix ETF 61.4 30 -26 6.9 -0.5
CWI SPDR MSCI ACWI ex-US ETF 61.2 30 -26 7.1 -0.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 61.0 25 -21 6.6 -0.8
FNDF Schwab Fundamental International Large Co. Index ETF 60.5 25 -21 8.8 +1.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 59.8 40 -36 7.0 -0.4
ACWX iShares MSCI ACWI ex U.S. ETF 59.7 32 -28 7.2 -0.2
PDEV Principal International Multi-Factor Core Index ETF 58.5 25 -21 7.9 +0.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 57.1 35 -31 8.6 +1.2
DWM WisdomTree International Equity Fund 56.8 48 -44 8.4 +1.0
VEU Vanguard FTSE All-World ex-US Index Fund 56.4 8 -4 7.5 +0.1
DOL WisdomTree International LargeCap Dividend Fund 55.4 48 -44 8.7 +1.3
BBEU JPMorgan BetaBuilders Europe ETF 54.3 9 -5 7.3 -0.1
FLEH Franklin FTSE Europe Hedged ETF 54.1 9 -5 7.1 -0.3
FLEE Franklin FTSE Europe ETF 54.1 9 -5 7.0 -0.4
IEUR iShares Core MSCI Europe ETF 54.0 9 -5 7.2 -0.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 53.9 30 -26 6.8 -0.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 53.8 45 -41 6.6 -0.8
FEU SPDR Portfolio Europe ETF 53.7 9 -5 7.3 -0.1
VGK Vanguard FTSE Europe ETF 53.1 8 -4 7.4 +0.0
IEV iShares Europe ETF 53.0 59 -55 6.8 -0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 52.7 39 -35 6.5 -0.9
IXUS ishares Core MSCI Total International Stock ETF 51.8 9 -5 7.3 -0.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 50.8 16 -12 6.8 -0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 50.4 39 -35 8.4 +1.0
VXUS Vanguard Total International Stock Index Fund 50.3 8 -4 7.5 +0.1
CIL VictoryShares International Volatility Weighted Index ETF 49.8 45 -41 6.8 -0.6
VSGX Vanguard ESG International Stock ETF 49.2 17 -13 7.1 -0.3
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 48.7 25 -21 6.5 -0.9
ISDX Invesco Strategic Developed ex-US ETF 47.7 23 -19 7.4 +0.0
IQIN IQ 500 International ETF 47.4 25 -21 8.8 +1.5
EFG iShares MSCI EAFE Growth ETF 47.3 40 -36 4.5 -2.8
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 45.6 14 -10 7.0 -0.4
EFV iShares MSCI EAFE Value ETF 45.5 39 -35 9.7 +2.3
ISZE iShares Edge MSCI Intl Size Factor ETF 43.9 30 -26 7.3 -0.1
IDY Pacific Global International Equity Income ETF 41.3 39 -35 8.1 +0.7
VYMI Vanguard International High Dividend Yield ETF 39.6 32 -28 10.1 +2.7
AVDE Avantis International Equity ETF 38.1 23 -19 7.8 +0.5
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 37.9 30 -26 0.0 -7.4
IQLT iShares Edge MSCI Intl Quality Factor ETF 37.0 30 -26 6.1 -1.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 36.8 30 -26 4.3 -3.0
RNDM Developed International Equity Select ETF 35.8 65 -61 6.3 -1.1
PQIN PGIM QMA Strategic Alpha International Equity ETF 35.1 29 -25 7.7 +0.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 35.0 45 -41 6.7 -0.6
RFDI First Trust Riverfront Dynamic Developed International ETF 34.0 83 -79 5.6 -1.7
IPAC iShares Core MSCI Pacific ETF 32.7 9 -5 7.4 0.0
VPL Vanguard FTSE Pacific ETF 32.7 8 -4 7.7 +0.3
VGFO Virtus WMC Global Factor Opportunities ETF 32.7 49 -45 7.9 +0.6
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.5 42 -38 5.3 -2.1
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 32.3 24 -20 7.2 -0.2
IGRO iShares International Dividend Growth ETF 32.1 22 -18 8.1 +0.7
EFAV iShares Edge MSCI Min Vol EAFE ETF 31.8 20 -16 5.5 -1.8
QWLD SPDR MSCI World StrategicFactors ETF 31.7 30 -26 6.0 -1.3
RBIN Nationwide Risk-Based International Equity ETF 31.5 42 -38 6.2 -1.2
QINT American Century Quality Diversified International ETF 30.8 39 -35 5.7 -1.7
FDEV Fidelity Targeted International Factor ETF 30.7 39 -35 6.6 -0.8
URTH iShares MSCI World ETF 29.6 24 -20 5.5 -1.8
IDMO Invesco S&P International Developed Momentum ETF 28.4 26 -22 4.5 -2.9
SCID Global X Scientific Beta Europe ETF 28.2 39 -35 6.4 -1.0
IVLU iShares Edge MSCI Intl Value Factor ETF 28.0 30 -26 11.6 +4.2
IDHQ Invesco S&P International Developed Quality ETF 28.0 29 -25 5.1 -2.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 27.9 45 -41 7.2 -0.2
FIVA Fidelity International Value Factor ETF 26.9 39 -35 10.0 +2.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 26.8 45 -41 6.7 -0.7
EZU iShares MSCI Eurozone ETF 26.7 49 -45 6.6 -0.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.6 29 -25 8.7 +1.3
NUDM Nuveen ESG International Developed Markets Equity ETF 26.4 40 -36 6.8 -0.5
IOO iShares Global 100 ETF 26.4 40 -36 4.6 -2.8
DTH WisdomTree DEFA Equity Income Fund 26.3 58 -54 9.8 +2.5
EURZ Xtrackers Eurozone Equity ETF 26.2 9 -5 7.0 -0.4
EUMV iShares Edge MSCI Min Vol Europe ETF 26.2 25 -21 5.0 -2.4
OEUR O'shares FTSE Europe Quality Dividend ETF 25.6 48 -44 6.7 -0.7
JPIN JPMorgan Diversified Return International Equity ETF 25.2 37 -33 7.9 +0.6
ACWI iShares MSCI ACWI ETF 25.2 32 -28 5.7 -1.7
KOKU Xtrackers MSCI Kokusai Equity ETF 24.8 9 -5 5.5 -1.8
UIVM VictoryShares USAA MSCI International Value Momentum ETF 24.8 35 -31 8.6 +1.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 24.7 20 -16 5.9 -1.4
LOWC SPDR MSCI ACWI Low Carbon Target ETF 24.6 20 -16 5.9 -1.5
IDLV Invesco S&P International Developed Low Volatility ETF 24.4 25 -21 6.8 -0.6
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 24.3 32 -28 6.4 -1.0
TOK iShares MSCI Kokusai ETF 23.8 25 -21 5.4 -2.0
VIGI Vanguard International Dividend Appreciation ETF 23.5 25 -21 5.6 -1.8
EWJ iShares MSCI Japan ETF 23.2 49 -45 7.3 -0.1
BBJP JPMorgan BetaBuilders Japan ETF 23.1 19 -15 7.6 +0.3

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

  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 International 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 10.4 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 4 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.56 CATEGORY
AVERAGE		 1.59
 
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.