Global X Founder-Run Companies
ALTAR
Score™
3.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
31.8x P/Sales
ratio
3.3x
P/BV
ratio
3.5x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X Founder-Run Companies ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Founder-Run Companies Index.

FUND BASICS
Category US Equities
Fund Sponsor Global X
Website www.globalxfunds.com
Inception date Feb 15, 2017
Assets (mns) $4
Currency USD
Expense ratio 45 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $40,722
Large cap (>$10bn) 47.8%
Mid cap ($2-10bn) 49.1%
Small cap (<$2bn) 3.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ROKU, INC. CLASS A 2.6 %
SEATTLE GENETICS INC 1.8 %
RINGCENTRAL, INC. CLASS A 1.5 %
NEUROCRINE BIOSCIENCES INC 1.5 %
MARKETAXESS HOLDINGS INC 1.5 %
TESLA MOTORS INC 1.4 %
SNAP, INC. CLASS A 1.4 %
PAYCOM SOFTWARE INC 1.3 %
SKECHERS USA INC-CL A 1.3 %
PENUMBRA, INC. 1.3 %
Total 15.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
BERMUDA 2.2 %
IRELAND 1.1 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
25.5% 12.1% -- -- 12.8%

Market Correlations
versus... Beta R-squared
S&P500 1.22 77%
MSCI EAFE 1.04 46%
MSCI Emg. Mkts. 0.71 34%

Technical Indicators
Recent close $20.08
30d moving avg. $19.74
Annualized volatility 17.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $29,721

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X Founder-Run Companies ETF based on the alternatives' overlap in portfolio holdings with BOSS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BOSS Expense: 45 bp ALTAR Score™: 3.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BOSS
Ticker Fund
Name
Overlap1
vs BOSS
(%)
Expense
ratio
(bp)
Savings
vs BOSS
(bp)
ALTAR
Score™
(%)
ALTAR
vs BOSS
(%)
ENTR ERShares Entrepreneur 30 25.7 49 -4 3.9 +0.3
XITK SPDR FactSet Innovative Technology 19.0 45 0 2.4 -1.3
JKH iShares Morningstar Mid Cap Growth 17.5 30 15 2.7 -1.0
OGIG O'Shares Global Internet Giants 17.5 48 -3 1.5 -2.2
JSMD Janus Small/Mid Cap Growth Alpha 16.9 35 10 6.6 +2.9
ARKW ARK Web x.O 16.2 75 -30 -0.8 -4.4
FDN First Trust DJ Internet 15.3 52 -7 3.4 -0.3
SLT Salt TruBeta High Exposure 15.1 29 16 6.4 +2.7
PLAT WisdomTree Modern Tech Platforms 14.9 45 0 2.8 -0.9
FXL First Trust Technology Alphadex 14.6 63 -18 5.6 +1.9
SFYX SoFi Next 500 14.2 0 45 5.6 +2.0
XSW SPDR S&P Software & Services 13.7 35 10 4.1 +0.5
IWP iShares Russell Midcap Growth 13.0 24 21 4.5 +0.9
QGRO American Century STOXX U.S. Quality Growth 12.9 29 16 5.5 +1.8
VOT Vanguard Mid-Cap Growth 12.8 7 38 4.0 +0.3
MILN Global X Millennials Thematic 12.3 50 -5 2.9 -0.7
VBK Vanguard Small-Cap Growth ETF 12.3 7 38 2.8 -0.8
PNQI Invesco Nasdaq Internet 12.1 62 -17 2.8 -0.8
IGV iShares N. American Tech-Software 12.0 46 -1 3.1 -0.6
FTC First Trust Large Cap Growth 11.8 61 -16 3.7 +0.1

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:
Global X Founder-Run Companies
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 13.2 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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