Global X MSCI China Real Estate ETF
ALTAR
Score™
17.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
5.9x P/Sales
ratio
0.6x
P/BV
ratio
0.9x Div.
yield
5.8%


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

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Global X
Website www.globalxfunds.com
Inception date Dec 07, 2018
Assets (mns) $8
Currency USD
Expense ratio 65 bp
Distributions Annually

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 50
Wgt avg mkt cap (mns) $18,822
Large cap (>$10bn) 60.2%
Mid cap ($2-10bn) 33.5%
Small cap (<$2bn) 4.4%
Developed mkts 40.3%
Emerging mkts 59.8%

TOP TEN HOLDINGS
CHINA RESOURCES LAND LTD 8.9 %
SUNAC CHINA HOLDINGS LTD 8.8 %
COUNTRY GARDEN HOLDINGS CO 8.5 %
LONGFOR PROPERTIES 8.3 %
CHINA OVERSEAS LAND & INVEST 7.8 %
CHINA EVERGRANDE GROUP 4.8 %
SHIMAO PROPERTY HOLDINGS LTD 4.3 %
CHINA VANKE CO LTD-H 3.9 %
FRANSHION PROPERTIES 3.8 %
CIFI HOLDINGS GROUP CO LTD 3.0 %
Total 62.0 %

TOP COUNTRY EXPOSURE
CHINA 65.0 %
HONG KONG 35.0 %









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.
-11.3% 6.9% -- -- 12.5%

Market Correlations
versus... Beta R-squared
S&P500 0.71 22%
MSCI EAFE 0.81 26%
MSCI Emg. Mkts. 0.85 46%

Technical Indicators
Recent close $17.19
30d moving avg. $17.51
Annualized volatility 30.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 6
Turnover 1.3%
Bid/Ask (% of price) 1.21%
ADV underlying (mns) $2,774

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Global X MSCI China Real Estate ETF ETF based on the alternatives' overlap in portfolio holdings with CHIR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CHIR Expense: 65 bp ALTAR Score™: 17.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CHIR
Ticker Fund
Name
Overlap1
vs CHIR
(%)
Expense
ratio
(bp)
Savings
vs CHIR
(bp)
ALTAR
Score™
(%)
ALTAR
vs CHIR
(%)
DRW WisdomTree Global ex-US Real Estate Fund 17.4 58 7 10.9 -6.6
VNQI Vanguard Global ex-US Real Estate Index Fund 10.3 12 53 10.2 -7.3
FXI iShares China Large-Cap ETF 9.1 74 -9 13.0 -4.5
SDEM Global X SuperDividend Emerging Markets ETF 9.0 66 -1 16.1 -1.4
EDIV SPDR S&P Emerging Markets Dividend ETF 8.3 49 16 11.1 -6.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 6.9 60 5 8.7 -8.8
KFYP KraneShares CICC China Leaders 100 Index ETF 6.6 70 -5 13.2 -4.3
EEMD AAM S&P Emerging Markets High Dividend Value ETF 6.3 50 15 20.9 +3.4
DVYE iShares Emerging Markets Dividend ETF 6.0 49 16 16.6 -0.9
FCA First Trust China AlphaDEX Fund 5.6 80 -15 13.4 -4.1
KGRN KraneShares MSCI China Environment Index ETF 5.4 80 -15 7.5 -10.0
CHIL Global X MSCI China Large-Cap 50 ETF 5.0 29 36 8.1 -9.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 4.9 32 33 8.8 -8.7
KALL KraneShares FTSE Emerging Markets Plus ETF 4.6 49 16 7.8 -9.7
PEK VanEck Vectors ChinaAMC CSI 300 ETF 4.5 60 5 6.9 -10.6
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 4.4 10 55 9.3 -8.2
MCHI iShares MSCI China ETF 4.4 59 6 7.5 -10.0
SDIV Global X SuperDividend ETF 4.3 59 6 13.3 -4.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 4.3 95 -30 9.0 -8.5
FLCH Franklin FTSE China ETF 4.2 19 46 8.0 -9.5
GXC SPDR S&P China ETF 4.2 59 6 7.7 -9.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 4.1 32 33 5.8 -11.7
FHK First Trust Hong Kong AlphaDEX Fund 4.0 80 -15 8.8 -8.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.9 58 7 7.8 -9.7
ASHX Xtrackers MSCI China A Inclusion Equity ETF 3.4 60 5 6.4 -11.1
KBA KraneShares Bosera MSCI China A Share ETF 3.4 60 5 6.5 -11.0
CNYA iShares MSCI China A ETF 3.4 60 5 6.5 -11.0
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 3.3 45 20 13.0 -4.5
BKF iShares MSCI BRIC ETF 3.1 69 -4 7.2 -10.3
PXH Invesco FTSE RAFI Emerging Markets ETF 3.1 50 15 13.2 -4.3
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 3.0 65 0 6.9 -10.6
JHEM John Hancock Multifactor Emerging Markets ETF 2.8 49 16 8.2 -9.3
FEM First Trust Emerging Markets AlphaDEX Fund 2.8 80 -15 12.5 -5.0
CN Xtrackers MSCI All China Equity ETF 2.6 50 15 7.8 -9.7
DEM WisdomTree Emerging Markets High Dividend Fund 2.6 63 2 14.1 -3.4
DVEM WisdomTree Emerging Markets Dividend Fund 2.5 32 33 8.1 -9.4
EEMA iShares MSCI Emerging Markets Asia ETF 2.4 50 15 7.3 -10.2
AVEM Avantis Emerging Markets Equity ETF 2.3 33 32 8.6 -8.9
NUEM Nuveen ESG Emerging Markets Equity ETF 2.3 45 20 6.9 -10.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.3 39 26 12.7 -4.8
GMF SPDR S&P Emerging Asia Pacific ETF 2.2 49 16 7.1 -10.4
PIE Invesco DWA Emerging Markets Momentum ETF 2.2 90 -25 4.5 -13.0
AFTY Pacer CSOP FTSE China A50 ETF 2.1 70 -5 9.4 -8.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.0 59 6 10.8 -6.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 2.0 68 -3 6.9 -10.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.0 47 18 12.6 -4.9
SCHE Schwab Emerging Markets Equity ETF 1.9 11 54 7.7 -9.8
FLAX Franklin FTSE Asia Ex Japan ETF 1.9 19 46 7.5 -10.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.9 30 35 7.6 -9.9
EEM iShares MSCI Emerging Markets ETF 1.8 68 -3 7.2 -10.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.8 63 2 12.4 -5.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.8 65 0 7.3 -10.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 1.8 45 20 8.6 -8.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 1.7 20 45 11.1 -6.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 1.7 15 50 8.4 -9.1
VWO Vanguard FTSE Emerging Markets ETF 1.7 10 55 7.8 -9.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.6 36 29 7.9 -9.6
IEMG iShares Core MSCI Emerging Markets ETF 1.6 13 52 7.7 -9.8
BKEM BNY Mellon Emerging Markets Equity ETF 1.6 11 54 8.2 -9.3
SPEM SPDR Portfolio Emerging Markets ETF 1.6 11 54 7.7 -9.8
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 1.6 50 15 10.2 -7.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 1.6 80 -15 7.4 -10.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.6 58 7 6.3 -11.2
VIGI Vanguard International Dividend Appreciation ETF 1.5 25 40 5.6 -11.9
IQDG WisdomTree International Quality Dividend Growth Fund 1.5 38 27 6.4 -11.1
ESGE iShares ESG MSCI EM ETF 1.5 25 40 8.4 -9.1
EMMF WisdomTree Emerging Markets Multifactor Fund 1.5 48 17 9.2 -8.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.5 49 16 7.7 -9.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.4 32 33 6.0 -11.5
ZHOK SPDR Solactive Hong Kong ETF 1.4 14 51 6.9 -10.6
VIDI Vident International Equity Fund 1.3 59 6 11.2 -6.3
ISEM Invesco Strategic Emerging Markets ETF 1.3 35 30 10.2 -7.3
EEMO Invesco S&P Emerging Markets Momentum ETF 1.2 29 36 6.2 -11.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.2 30 35 8.5 -9.0
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 21 14.5 -3.0
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 1.1 65 0 4.2 -13.3
VYMI Vanguard International High Dividend Yield ETF 1.1 32 33 10.1 -7.4
IPOS Renaissance International IPO ETF 0.9 80 -15 4.7 -12.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.9 20 45 6.5 -11.0
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 18 12.2 -5.3
BICK First Trust BICK Index Fund 0.9 64 1 4.4 -13.1
DIM WisdomTree International MidCap Dividend Fund 0.9 58 7 7.7 -9.8
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 0.8 51 14 13.9 -3.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.8 44 21 8.8 -8.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.8 29 36 9.9 -7.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.8 45 20 7.7 -9.8
IGRO iShares International Dividend Growth ETF 0.7 22 43 8.1 -9.4
FLHK Franklin FTSE Hong Kong ETF 0.6 9 56 8.2 -9.3
VSGX Vanguard ESG International Stock ETF 0.6 17 48 7.1 -10.4
SCIX Global X Scientific Beta Asia ex-Japan ETF 0.6 38 27 6.6 -10.9
FDT First Trust Developed Markets ex-US Alphadex Fund 0.5 80 -15 7.3 -10.2
ACWX iShares MSCI ACWI ex U.S. ETF 0.5 32 33 7.2 -10.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.5 40 25 7.0 -10.5
AIA iShares Asia 50 ETF 0.5 50 15 7.8 -9.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.5 35 30 8.6 -8.9
IXUS ishares Core MSCI Total International Stock ETF 0.5 9 56 7.3 -10.2
DEW WisdomTree Global High Dividend Fund 0.5 58 7 9.2 -8.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.5 8 57 7.5 -10.0

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:
Global X MSCI China Real Estate ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.3 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 17.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.27 CATEGORY
AVERAGE
1.45
 
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.