Global X China Financials ETF
ALTAR
Score™
19.8% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
5.8x P/Sales
ratio
1.1x
P/BV
ratio
0.6x Div.
yield
5.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X MSCI China Financials ETF seeks to invest in large- and mid-capitalization segments of the MSCI China Index that are classified in the Financials 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 11, 2009
Assets (mns) $34
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 96
Wgt avg mkt cap (mns) $91,022
Large cap (>$10bn) 81.0%
Mid cap ($2-10bn) 18.3%
Small cap (<$2bn) 0.7%
Developed mkts 9.4%
Emerging mkts 90.6%

TOP TEN HOLDINGS
CHINA CONSTRUCTION BANK-H 9.8 %
IND & COMM BK OF CHINA - H 9.4 %
BANK OF CHINA LTD - H 8.8 %
PING AN INSURANCE GROUP CO-H 8.7 %
CHINA MERCHANTS BANK - H 5.7 %
AGRICULTURAL BANK OF CHINA-H 4.0 %
CHINA LIFE INSURANCE CO-H 3.7 %
CHINA PACIFIC INSURANCE GR-H 2.6 %
PICC PROPERTY & CASUALTY -H 2.2 %
BANK OF COMMUNICATIONS CO-H 2.2 %
Total 57.1 %

TOP COUNTRY EXPOSURE
CHINA 95.7 %
HONG KONG 3.4 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.1% -17.8% -2.9% 3.0% 2.1%

Market Correlations
versus... Beta R-squared
S&P500 0.76 36%
MSCI EAFE 0.93 46%
MSCI Emg. Mkts. 0.87 62%

Technical Indicators
Recent close $13.25
30d moving avg. $13.68
Annualized volatility 21.5%
Short interest (ETF) 0.6%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.6%
Bid/Ask (% of price) 0.59%
ADV underlying (mns) $4,839

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Global X China Financials ETF ETF based on the alternatives' overlap in portfolio holdings with CHIX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CHIX Expense: 65 bp ALTAR Score™: 19.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CHIX
Ticker Fund
Name
Overlap1
vs CHIX
(%)
Expense
ratio
(bp)
Savings
vs CHIX
(bp)
ALTAR
Score™
(%)
ALTAR
vs CHIX
(%)
FXI iShares China Large-Cap ETF 43.7 74 -9 14.5 -5.3
CHIL Global X MSCI China Large-Cap 50 ETF 23.9 29 36 10.1 -9.7
KALL KraneShares FTSE Emerging Markets Plus ETF 18.8 49 16 9.7 -10.1
PXH Invesco FTSE RAFI Emerging Markets ETF 17.9 50 15 15.0 -4.8
FLCH Franklin FTSE China ETF 17.7 19 46 9.9 -9.9
MCHI iShares MSCI China ETF 17.5 59 6 9.7 -10.1
GXC SPDR S&P China ETF 17.1 59 6 9.5 -10.3
WCHN WisdomTree ICBCCS S&P China 500 Fund 15.1 55 10 9.3 -10.5
KBA KraneShares Bosera MSCI China A Share ETF 14.5 60 5 8.4 -11.4
ASHX Xtrackers MSCI China A Inclusion Equity ETF 14.5 60 5 8.4 -11.4
CNYA iShares MSCI China A ETF 14.4 65 0 8.4 -11.4
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 14.3 65 0 8.9 -10.8
AIA iShares Asia 50 ETF 13.4 50 15 9.6 -10.2
RNEM Emerging Markets Equity Select ETF 13.4 75 -10 11.4 -8.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 13.2 39 26 14.3 -5.5
BKF iShares MSCI BRIC ETF 12.2 69 -4 9.2 -10.6
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 10.2 51 14 14.6 -5.2
CN Xtrackers MSCI All China Equity ETF 10.2 50 15 9.9 -9.9
DEM WisdomTree Emerging Markets High Dividend Fund 9.4 63 2 15.3 -4.5
EEMA iShares MSCI Emerging Markets Asia ETF 9.4 50 15 9.2 -10.6
GMF SPDR S&P Emerging Asia Pacific ETF 8.9 49 16 8.7 -11.1
ISEM Invesco Strategic Emerging Markets ETF 8.5 35 30 11.4 -8.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 8.4 14 51 10.3 -9.5
ROAM Hartford Multifactor Emerging Markets ETF 8.1 44 21 16.3 -3.5
JHEM John Hancock Multifactor Emerging Markets ETF 7.9 55 10 9.7 -10.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 7.7 68 -3 8.7 -11.1
SCHE Schwab Emerging Markets Equity ETF 7.7 13 52 9.4 -10.4
FLAX Franklin FTSE Asia Ex Japan ETF 7.7 19 46 9.2 -10.6
AFTY Pacer CSOP FTSE China A50 ETF 7.7 70 -5 11.0 -8.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 7.5 30 35 9.5 -10.3
EELV Invesco S&P Emerging Markets Low Volatility ETF 7.4 29 36 10.5 -9.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 7.4 45 20 9.4 -10.4
SPEM SPDR Portfolio Emerging Markets ETF 7.1 11 54 9.3 -10.5
VWO Vanguard FTSE Emerging Markets ETF 7.0 10 55 9.6 -10.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 6.9 45 20 14.6 -5.2
EEM iShares MSCI Emerging Markets ETF 6.9 68 -3 9.1 -10.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 6.9 95 -30 11.2 -8.6
EMMF WisdomTree Emerging Markets Multifactor Fund 6.8 48 17 10.6 -9.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 6.8 65 0 9.1 -10.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 6.8 25 40 9.1 -10.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 6.7 30 35 10.0 -9.8
FDEM Fidelity Targeted Emerging Markets Factor ETF 6.6 45 20 10.6 -9.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.6 59 6 12.1 -7.7
BICK First Trust BICK Index Fund 6.3 64 1 5.2 -14.6
MOTI VanEck Vectors Morningstar International Moat ETF 6.3 57 8 9.4 -10.4
IEMG iShares Core MSCI Emerging Markets ETF 6.3 14 51 9.5 -10.3
ESGE iShares ESG MSCI EM ETF 6.1 25 40 10.5 -9.3
AXJL WisdomTree Asia Pacific ex-Japan Fund 5.9 48 17 10.3 -9.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 5.6 50 15 10.8 -9.0
KFYP KraneShares CICC China Leaders 100 Index ETF 5.4 70 -5 14.9 -4.9
IXG iShares Global Financials ETF 4.9 46 19 11.2 -8.6
AVEM Avantis Emerging Markets Equity ETF 4.9 33 32 10.5 -9.3
NUEM Nuveen ESG Emerging Markets Equity ETF 4.8 45 20 8.4 -11.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 4.5 32 33 7.5 -12.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.3 40 25 8.3 -11.5
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 4.3 20 45 12.1 -7.7
PEK VanEck Vectors ChinaAMC CSI 300 ETF 4.2 60 5 8.6 -11.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 4.1 45 20 10.7 -9.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 4.0 20 45 8.2 -11.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 3.6 32 33 10.4 -9.4
DVYE iShares Emerging Markets Dividend ETF 3.5 49 16 14.0 -5.8
LVIN Hartford Multifactor Low Volatility International Equity ETF 3.0 29 36 13.5 -6.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.9 45 20 9.7 -10.0
VYMI Vanguard International High Dividend Yield ETF 2.8 32 33 11.4 -8.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.7 47 18 15.2 -4.5
RBIN Nationwide Risk-Based International Equity ETF 2.7 42 23 6.9 -12.9
DVEM WisdomTree Emerging Markets Dividend Fund 2.3 32 33 9.9 -9.9
BLCN Reality Shares Nasdaq NextGen Economy ETF 2.3 68 -3 4.8 -15.0
EMCG WisdomTree Emerging Markets Consumer Growth Fund 2.2 32 33 8.2 -11.6
FPXI First Trust International Equity Opportunities ETF 2.1 70 -5 3.0 -16.8
ACWX iShares MSCI ACWI ex U.S. ETF 2.1 32 33 8.3 -11.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.1 32 33 7.5 -12.3
SDEM Global X SuperDividend Emerging Markets ETF 2.0 67 -2 24.3 +4.6
ACWF iShares FactorSelect MSCI Global ETF 2.0 35 30 8.6 -11.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.9 40 25 8.1 -11.7
LEGR First Trust Index Digital Transaction & Process Technology E 1.9 65 0 7.9 -11.9
VSGX Vanguard ESG International Stock ETF 1.8 17 48 8.2 -11.6
IXUS ishares Core MSCI Total International Stock ETF 1.8 9 56 8.4 -11.4
BLOK Amplify Transformational Data Sharing ETF 1.8 70 -5 5.6 -14.2
VEU Vanguard FTSE All-World ex-US Index Fund 1.8 8 57 8.6 -11.2
DWCR Arrow DWA Country Rotation ETF 1.7 95 -30 18.7 -1.1
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 35 8.4 -11.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.6 49 16 9.9 -9.9
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF 1.6 65 0 4.4 -15.4
VXUS Vanguard Total International Stock Index Fund 1.6 8 57 8.6 -11.2
DEW WisdomTree Global High Dividend Fund 1.5 58 7 9.9 -9.9
OBOR KraneShares MSCI One Belt One Road Index ETF 1.5 79 -14 10.6 -9.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.5 60 5 9.4 -10.4
DGT SPDR Global Dow ETF 1.5 50 15 7.5 -12.3
GDAT Goldman Sachs Motif Data-Driven World Etf 1.4 50 15 5.4 -14.4
DWX SPDR S&P International Dividend ETF 1.3 45 20 8.7 -11.1
IQDF FlexShares International Quality Dividend Index Fund 1.3 47 18 14.6 -5.2
PIE Invesco DWA Emerging Markets Momentum ETF 1.3 90 -25 6.2 -13.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.2 20 45 6.9 -12.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 1.1 16 49 7.8 -12.0
LOWC SPDR MSCI ACWI Low Carbon Target ETF 1.0 20 45 6.8 -13.0
FCA First Trust China AlphaDEX Fund 1.0 80 -15 16.0 -3.8
GFIN Goldman Sachs Motif Finance Reimagined ETF 1.0 50 15 6.0 -13.8
ARKF ARK Fintech Innovation ETF 1.0 75 -10 1.1 -18.7
EYLD Cambria Emerging Shareholder Yield ETF 0.9 66 -1 18.2 -1.6

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 China Financials 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 12.7 %
Divided by: Fwd. P/BV 0.6 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 19.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.38 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.