Global X MSCI China Energy
ALTAR
Score™
8.1% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
7.3x P/Sales
ratio
0.5x
P/BV
ratio
0.7x Div.
yield
5.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X MSCI China Energy ETF seeks to invest in large-, mid- and small-capitalization segments of the MSCI China IMI Index that are classified in the Energy Sector as per the Global Industry Classification System.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Dec 16, 2009
Assets (mns) $2
Currency USD
Expense ratio 66 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 24
Wgt avg mkt cap (mns) $25,590
Large cap (>$10bn) 40.9%
Mid cap ($2-10bn) 38.1%
Small cap (<$2bn) 21.0%
Developed mkts 16.6%
Emerging mkts 83.5%

TOP TEN HOLDINGS
CNOOC LTD 9.5 %
CHINA SHENHUA ENERGY CO - H 9.0 %
CHINA PETROLEUM & CHEMICAL-H 9.0 %
PETROCHINA CO LTD-H 8.8 %
YANZHOU COAL MINING CO-H 5.7 %
CHINA OILFIELD SERVICES-H 5.4 %
CHINA COAL ENERGY CO - H 4.4 %
INNER MONGOLIA YITAI COAL-B 4.4 %
OFFSHORE OIL ENGINEERING-A 4.0 %
CHINA SUNTIEN GREEN ENERGY-H 3.9 %
Total 64.0 %

TOP COUNTRY EXPOSURE
CHINA 84.0 %
HONG KONG 13.3 %









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.
-2.0% -7.7% -3.9% -- -1.4%

Market Correlations
versus... Beta R-squared
S&P500 0.90 46%
MSCI EAFE 1.05 53%
MSCI Emg. Mkts. 0.81 52%

Technical Indicators
Recent close $10.35
30d moving avg. $10.57
Annualized volatility 16.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.7%
Bid/Ask (% of price) 2.93%
ADV underlying (mns) $426

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: CHIE Expense: 66 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CHIE
Ticker Fund
Name
Overlap1
vs CHIE
(%)
Expense
ratio
(bp)
Savings
vs CHIE
(bp)
ALTAR
Score™
(%)
ALTAR
vs CHIE
(%)
KOL VanEck Vectors Coal ETF 16.1 60 6 10.6 +2.4
ISEM Invesco Strategic Emerging Markets 14.3 35 31 10.0 +1.9
GRES Index IQ Global Resources 10.6 77 -11 6.1 -2.0
FXI iShares China Large-Cap 9.4 74 -8 13.9 +5.8
FCA First Trust China AlphaDEX 9.0 80 -14 12.4 +4.3
2800-HK Tracker Fund of Hong Kong 6.2 9 57 9.7 +1.6
AXJL WisdomTree Asia Pacific Ex-Japan 5.8 48 18 9.1 +1.0
CHIL Global X MSCI China Large-Cap 50 5.1 29 37 10.6 +2.4
DEM WisdomTree Emerg Mkts High Yield Equity 4.8 63 3 12.5 +4.4
REDV Invesco Emerging Markets Ultra Dividend Revenue ETF 4.8 46 20 18.1 +10.0
EMIF iShares S&P Emerging Markets Infrastructure 4.7 75 -9 7.6 -0.5
FEM First Trust Emerging Markets AlphaDEX 4.7 80 -14 11.0 +2.8
FNDE Schwab Fundamental Emg Mkt Large Cap 4.2 39 27 11.1 +3.0
EEMD AAM S&P Emerging Markets High Dividend Value 4.0 50 16 12.1 +4.0
MCHI iShares MSCI China 3.8 59 7 9.4 +1.2
CEY VictoryShares Emg. Mkt. High Dividend Volatility Wtd. 3.7 50 16 13.3 +5.2
FLCH Franklin FTSE China 3.6 19 47 10.0 +1.8
PXH Invesco FTSE-RAFI Emerging Markets 3.6 50 16 12.5 +4.4
GXC SPDR S&P China ETF 3.3 59 7 9.2 +1.1
DVEM WisdomTree Emerging Markets Dividend 3.1 32 34 11.3 +3.2

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

Content on this tab for subscribers only

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 MSCI China Energy
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 5.8 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 66 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.33 CATEGORY
AVERAGE
1.49
 
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.