Global X MSCI China Consumer Discretionary
ALTAR
Score™
5.3% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
23.6x P/Sales
ratio
1.1x
P/BV
ratio
2.4x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X MSCI China Consumer Discretionary ETF seeks to invest in large- and mid-capitalization segments of the MSCI China Index that are classified in the Consumer Discretionary 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 01, 2009
Assets (mns) $157
Currency USD
Expense ratio 65 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 68
Wgt avg mkt cap (mns) $68,819
Large cap (>$10bn) 68.4%
Mid cap ($2-10bn) 29.1%
Small cap (<$2bn) 2.5%
Developed mkts 25.7%
Emerging mkts 74.3%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 8.7 %
JD.COM INC-ADR 6.6 %
TAL EDUCATION GROUP UNSPONSORED AD 5.6 %
NEW ORIENTAL EDUCATIO-SP ADR 5.4 %
CTRIP.COM INTERNATIONAL-ADR 5.0 %
MEITUAN DIANPING 4.9 %
YUM CHINA HOLDINGS, INC. 4.7 %
ANTA SPORTS PRODUCTS LTD 4.1 %
GEELY AUTOMOBILE HOLDINGS LT 4.1 %
VIPSHOP HOLDINGS LTD SPONSORED ADR 3.7 %
Total 52.9 %

TOP COUNTRY EXPOSURE
CHINA 82.3 %
HONG KONG 14.8 %
UNITED STATES 0.6 %
BRITISH VIRGIN ISLANDS 0.2 %







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.
36.5% 28.4% 7.9% -- 2.3%

Market Correlations
versus... Beta R-squared
S&P500 1.25 46%
MSCI EAFE 1.41 48%
MSCI Emg. Mkts. 1.22 58%

Technical Indicators
Recent close $17.85
30d moving avg. $17.80
Annualized volatility 22.4%
Short interest (ETF) 0.4%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 73
Turnover 0.8%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $7,531

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: CHIQ Expense: 65 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CHIQ
Ticker Fund
Name
Overlap1
vs CHIQ
(%)
Expense
ratio
(bp)
Savings
vs CHIQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs CHIQ
(%)
PGJ Invesco Golden Dragon China 38.7 70 -5 3.7 -1.6
KWEB KraneShares CSI China Internet 35.5 76 -11 3.9 -1.5
FNI First Trust ISE Chindia 29.6 59 6 4.0 -1.3
CXSE WisdomTree China ex-State Owned Enterprises 28.9 32 33 7.0 +1.7
DINT Davis Select International 22.9 75 -10 5.9 +0.5
EMQQ Emerging Markets Internet & E-Commerce 22.7 86 -21 3.9 -1.5
CHIL Global X MSCI China Large-Cap 50 21.3 29 36 10.5 +5.1
TTTN TigerShares China-U.S. Internet Titans 21.2 59 6 3.9 -1.4
FDNI First Trust Dow Jones International Internet 20.9 65 0 4.5 -0.8
KALL KraneShares MSCI China All Shares 20.0 49 16 9.0 +3.7
ECON Columbia Emerging Markets Consumer 19.7 59 6 5.1 -0.3
FLCH Franklin FTSE China 19.5 19 46 10.0 +4.7
MCHI iShares MSCI China 19.4 59 6 9.4 +4.0
GXC SPDR S&P China ETF 19.2 59 6 9.2 +3.8
EEB Invesco BRIC 19.0 64 1 6.6 +1.3
WCHN WisdomTree ICBCCS S&P China 500 18.3 55 10 9.1 +3.8
EBIZ Global X E-commerce 17.9 68 -3 2.8 -2.5
KEMQ KraneShares EM Consumer Focus 17.6 80 -15 7.8 +2.4
ONLN ProShares Online Retail 16.6 58 7 2.3 -3.1
DWLD Davis Select Worldwide 16.3 64 1 6.1 +0.8

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 Consumer Discretionary
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 13.0 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 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.