Xtrackers MSCI All China Equity ETF
ALTAR
Score™
8.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
10.8x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers Harvest MSCI All China Equity ETF is an exchange-traded fund incorporated in the USA. The fund seeks to track the performance of the MSCI All China Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Apr 30, 2014
Assets (mns) $37
Currency USD
Expense ratio 50 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 228
Wgt avg mkt cap (mns) $130,588
Large cap (>$10bn) 84.2%
Mid cap ($2-10bn) 15.0%
Small cap (<$2bn) 0.6%
Developed mkts 22.2%
Emerging mkts 77.9%

TOP TEN HOLDINGS
XTRACKERS MSCI CHINA A INCLUSION E 34.6 %
ALIBABA GROUP HOLDING LTD. SPONSOR 11.2 %
TENCENT HOLDINGS LTD 9.2 %
XTRACKERS HARVEST CSI 500 CHINA A- 5.6 %
CHINA CONSTRUCTION BANK-H 2.5 %
PING AN INSURANCE GROUP CO-H 2.0 %
CHINA MOBILE LIMITED 1.6 %
IND & COMM BK OF CHINA - H 1.4 %
BAIDU INC - SPON ADR 1.1 %
BANK OF CHINA LTD - H 1.0 %
Total 70.3 %

TOP COUNTRY EXPOSURE
CHINA 49.5 %
HONG KONG 9.1 %
SINGAPORE 0.1 %
UNITED STATES 0.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.4% 5.0% 5.4% -- 10.5%

Market Correlations
versus... Beta R-squared
S&P500 1.16 55%
MSCI EAFE 1.37 65%
MSCI Emg. Mkts. 1.18 82%

Technical Indicators
Recent close $33.81
30d moving avg. $34.26
Annualized volatility 18.9%
Short interest (ETF) 0.1%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 11
Turnover 1.0%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $11,777

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: CN Expense: 50 bp ALTAR Score™: 8.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CN
Ticker Fund
Name
Overlap1
vs CN
(%)
Expense
ratio
(bp)
Savings
vs CN
(bp)
ALTAR
Score™
(%)
ALTAR
vs CN
(%)
MCHI iShares MSCI China ETF 58.6 59 -9 8.8 +0.1
GXC SPDR S&P China ETF 57.2 59 -9 8.8 0.0
FLCH Franklin FTSE China ETF 56.0 19 31 9.2 +0.5
BKF iShares MSCI BRIC ETF 54.3 69 -19 8.3 -0.5
KALL KraneShares FTSE Emerging Markets Plus ETF 51.8 49 1 8.3 -0.4
WCHN WisdomTree ICBCCS S&P China 500 Fund 46.5 55 -5 8.3 -0.4
EEMA iShares MSCI Emerging Markets Asia ETF 41.9 50 0 8.4 -0.4
CHIL Global X MSCI China Large-Cap 50 ETF 41.1 29 21 9.8 +1.1
GMF SPDR S&P Emerging Asia Pacific ETF 39.8 49 1 7.7 -1.0
CXSE WisdomTree China ex-State-Owned Enterprises Fund 37.9 32 18 6.2 -2.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 36.1 68 -18 7.8 -0.9
FLAX Franklin FTSE Asia Ex Japan ETF 35.3 19 31 8.3 -0.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 34.6 14 36 9.0 +0.2
SCHE Schwab Emerging Markets Equity ETF 33.7 13 37 8.3 -0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 32.0 30 20 8.2 -0.6
EEM iShares MSCI Emerging Markets ETF 31.0 68 -18 8.2 -0.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 30.9 20 30 7.7 -1.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 30.2 65 -15 8.1 -0.6
VWO Vanguard FTSE Emerging Markets ETF 30.0 10 40 8.4 -0.3
SPEM SPDR Portfolio Emerging Markets ETF 29.6 11 39 8.4 -0.4

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

Content on this tab for subscribers only

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:
Xtrackers MSCI All China Equity ETF
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 14.5 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 8.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.25 CATEGORY
AVERAGE
1.48
 
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.