Invesco China Technology ETF
ALTAR
Score™		 -7.9% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 17.5x P/Sales
ratio		 1.4x
P/BV
ratio		 2.0x Div.
yield		 0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco China Technology ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the AlphaShares China Technology Index. The ETF holds technology stocks of all cap sizes. Its investments are focused in communication and technology companies. The ETF weights the holdings using market capitalization methodology.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Guggenheim
Website guggenheiminvestments.com
Inception date Dec 08, 2009
Assets (mns) $726
Currency USD
Expense ratio 70 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 56
Wgt avg mkt cap (mns) $77,934
Large cap (>$10bn) 60.1%
Mid cap ($2-10bn) 38.3%
Small cap (<$2bn) 1.6%
Developed mkts 34.7%
Emerging mkts 65.3%

TOP TEN HOLDINGS
SENSETIME GROUP INC 30.9 %
MEITUAN DIANPING 9.4 %
TENCENT HOLDINGS LTD 8.1 %
PINDUODUO, INC. SPONSORED ADR CLAS 7.3 %
KUAISHOU TECHNOLOGY CLASS B 6.2 %
BAIDU, INC. CLASS A 5.3 %
BILIBILI, INC. CLASS Z 4.0 %
SUNNY OPTICAL TECH 3.4 %
KINGSOFT CORP LTD 2.2 %
HYGON INFORMATION TECHNOLOGY CO., 2.0 %
Total 79.0 %

TOP COUNTRY EXPOSURE
CHINA 67.2 %
HONG KONG 0.7 %









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.
13.5% 18.4% -2.9% 1.5% 4.1%

Market Correlations
versus... Beta R-squared
S&P500 0.53 6%
MSCI EAFE 0.89 17%
MSCI Emg. Mkts. 1.69 58%

Technical Indicators
Recent close $41.12
30d moving avg. $41.16
Annualized volatility 38.7%
Short interest (ETF) 9.4%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 238
Turnover 1.4%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $11,036

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 198 potential alternatives to the Invesco China Technology ETF ETF based on the alternatives' overlap in portfolio holdings with CQQQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CQQQ Expense: 70 bp ALTAR Score™: -7.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CQQQ
Ticker Fund
Name		 Overlap1
vs CQQQ
(%)		 Expense
ratio
(bp)		 Savings
vs CQQQ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs CQQQ
(%)
KWEB KraneShares CSI China Internet ETF 38.7 69 1 -1.4 +6.6
KTEC KraneShares Hang Seng TECH Index ETF 35.3 69 1 -3.6 +4.3
FDNI First Trust Dow Jones International Internet ETF 28.5 65 5 2.1 +10.0
TCHI iShares MSCI China Multisector Tech ETF 27.3 59 11 1.9 +9.8
CGRO CoreValues Alpha Greater China Growth ETF 26.8 75 -5 2.0 +9.9
CXSE WisdomTree China ex-State-Owned Enterprises Fund 23.2 32 38 6.1 +14.0
FXI iShares China Large-Cap ETF 22.3 74 -4 8.2 +16.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 22.1 86 -16 1.6 +9.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 21.4 60 10 0.5 +8.4
MCH Matthews China Active ETF 20.7 79 -9 5.4 +13.3
MCHI iShares MSCI China ETF 20.4 59 11 8.4 +16.3
FLCH Franklin FTSE China ETF 20.0 19 51 8.8 +16.7
GXC SPDR S&P China ETF 18.9 59 11 8.3 +16.2
CHIQ Global X MSCI China Consumer Discretionary ETF 17.5 65 5 5.9 +13.8
KALL KraneShares MSCI All China Index ETF 16.8 49 21 9.0 +16.9
JCHI JPMorgan Active China ETF 15.2 65 5 8.0 +15.9
SOCL Global X Social Media ETF 15.2 65 5 -6.4 +1.6
BKF iShares MSCI BIC ETF 14.0 69 1 6.9 +14.8
AIA iShares Asia 50 ETF 13.7 50 20 6.6 +14.5
MINV Matthews Asia Innovators Active ETF 13.1 79 -9 3.0 +10.9
ESPO VanEck Video Gaming and eSports ETF 9.7 56 14 3.5 +11.4
ODDS Pacer BlueStar Digital Entertainment ETF 9.6 60 10 2.3 +10.2
DEHP Dimensional Emerging Markets High Profitability ETF 9.4 41 29 5.0 +12.9
IVRS iShares Future Metaverse Tech and Communications ETF 9.3 47 23 -4.9 +3.1
EEMA iShares MSCI Emerging Markets Asia ETF 9.3 49 21 6.5 +14.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 9.1 15 55 10.2 +18.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 8.5 70 0 6.2 +14.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 8.5 20 50 6.8 +14.7
OND ProShares On-Demand ETF 8.5 58 12 -2.2 +5.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 8.3 30 40 7.3 +15.2
GMF SPDR S&P Emerging Asia Pacific ETF 8.2 49 21 6.1 +14.0
SCHE Schwab Emerging Markets Equity ETF 8.0 11 59 7.1 +15.0
EQLT iShares MSCI Emerging Markets Quality Factor ETF 7.9 35 35 7.4 +15.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 7.9 32 38 6.2 +14.1
BNGE First Trust S-Network Streaming and Gaming ETF 7.8 70 0 -3.5 +4.4
PATN Pacer Nasdaq International Patent Leaders ETF 7.7 65 5 6.5 +14.4
MEM Matthews Emerging Markets Equity Active ETF 7.6 79 -9 5.4 +13.3
EEM iShares MSCI Emerging Markets ETF 7.4 69 1 6.9 +14.8
ONLN ProShares Online Retail ETF 7.3 58 12 3.3 +11.3
EMGF iShares Emerging Markets Equity Factor ETF 7.3 25 45 8.5 +16.4
FLAX Franklin FTSE Asia Ex Japan ETF 7.3 19 51 6.9 +14.8
FMET Fidelity Metaverse ETF 6.9 39 31 5.4 +13.3
VWO Vanguard FTSE Emerging Markets ETF 6.9 8 62 6.9 +14.8
ESGE iShares ESG Aware MSCI EM ETF 6.8 25 45 7.1 +15.0
LDEM iShares ESG MSCI EM Leaders ETF 6.7 17 53 7.6 +15.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 6.7 33 37 8.2 +16.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 6.6 66 4 10.0 +17.9
SPEM SPDR Portfolio Emerging Markets ETF 6.5 7 63 7.3 +15.2
DINT Davis Select International ETF 6.5 55 15 6.0 +13.9
IEMG iShares Core MSCI Emerging Markets ETF 6.4 9 61 7.5 +15.4
ISHP First Trust Nasdaq Retail ETF 6.2 60 10 2.9 +10.8
FDEM Fidelity Emerging Markets Multifactor ETF 6.2 25 45 12.3 +20.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 6.2 15 55 7.2 +15.2
KFVG KraneShares CICC China 5G & Semiconductor Index ETF 6.1 65 5 3.9 +11.8
BKEM BNY Mellon Emerging Markets Equity ETF 6.1 11 59 8.4 +16.3
EMC Global X Emerging Markets Great Consumer ETF 6.0 75 -5 4.5 +12.4
DFAE Dimensional Emerging Core Equity Market ETF 6.0 35 35 7.3 +15.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 5.7 36 34 7.8 +15.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 5.5 45 25 11.0 +18.9
IXP iShares Global Comm Services ETF 5.5 42 28 5.1 +13.0
FDCF Fidelity Disruptive Communications ETF 5.3 50 20 2.6 +10.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 5.2 41 29 7.4 +15.3
PXH Invesco FTSE RAFI Emerging Markets ETF 5.2 49 21 12.2 +20.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 5.2 40 30 8.3 +16.2
JHEM John Hancock Multifactor Emerging Markets ETF 5.1 49 21 8.2 +16.1
DWLD Davis Select Worldwide ETF 5.0 63 7 6.7 +14.6
AIQ Global X Artificial Intelligence & Technology ETF 5.0 68 2 4.0 +11.9
CHAT Roundhill Generative AI & Technology ETF 4.9 75 -5 3.8 +11.8
LIVR Intelligent Livermore ETF 4.8 69 1 6.0 +13.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 4.7 95 -25 10.5 +18.4
JIG JPMorgan International Growth ETF 4.7 55 15 4.6 +12.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 4.6 38 32 7.8 +15.7
AVEM Avantis Emerging Markets Equity ETF 4.5 33 37 8.9 +16.8
OGIG ALPS O'Shares Global Internet Giants ETF 4.3 48 22 1.9 +9.8
GBUY Goldman Sachs Future Consumer Equity ETF 4.1 75 -5 3.3 +11.3
MOTI VanEck Morningstar International Moat ETF 4.1 58 12 5.9 +13.8
MRAD SmartETFs Advertising & Marketing Technology ETF 4.1 68 2 5.5 +13.4
ECNS iShares MSCI China Small-Cap ETF 4.0 59 11 14.2 +22.1
EMXF iShares ESG Advanced MSCI EM ETF 4.0 16 54 6.8 +14.7
ARVR First Trust Indxx Metaverse ETF 3.9 70 0 0.8 +8.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.9 59 11 11.3 +19.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 3.9 39 31 12.5 +20.4
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 3.6 18 52 6.8 +14.7
KSTR KraneShares SSE STAR Market 50 Index ETF 3.5 89 -19 2.1 +10.0
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 3.4 65 5 7.9 +15.8
BUYZ Franklin Disruptive Commerce ETF 3.0 50 20 1.8 +9.7
EBIZ Global X E-Commerce ETF 3.0 50 20 2.1 +10.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.8 42 28 8.1 +16.0
RNEM First Trust Emerging Markets Equity Select ETF 2.8 75 -5 7.6 +15.5
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 2.7 57 13 5.9 +13.8
CNYA iShares MSCI China A ETF 2.6 60 10 8.0 +15.9
IBLC iShares Blockchain and Tech ETF 2.6 47 23 -1.7 +6.3
WISE Themes Generative Artificial Intelligence ETF 2.6 35 35 0.5 +8.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.6 30 40 8.1 +16.0
TTAI FCF International Quality ETF 2.6 59 11 5.6 +13.5
UMMA Wahed Dow Jones Islamic World ETF 2.5 65 5 4.6 +12.5
WUGI AXS Esoterica NextG Economy ETF 2.5 75 -5 2.5 +10.4
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 2.5 65 5 6.2 +14.1
METV Roundhill Ball Metaverse ETF 2.5 59 11 3.4 +11.3
IQDE FlexShares International Quality Dividend Defensive Index ET 2.4 47 23 14.8 +22.7
ANEW ProShares MSCI Transformational Changes ETF 2.3 45 25 3.6 +11.5
CWI SPDR MSCI ACWI ex-US ETF 2.3 30 40 6.9 +14.9
NUEM Nuveen ESG Emerging Markets Equity ETF 2.2 36 34 6.5 +14.4
ACWX iShares MSCI ACWI ex U.S. ETF 2.2 34 36 7.0 +14.9
VEU Vanguard FTSE All-World ex-US Index Fund 2.1 8 62 7.3 +15.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 2.1 35 35 12.4 +20.3
DSTX Distillate International Fundamental Stability & Value ETF 2.1 55 15 8.0 +15.9
MOTG VanEck Morningstar Global Wide Moat ETF 2.1 52 18 5.6 +13.5
QNXT iShares Nasdaq-100 ex Top 30 ETF 2.1 20 50 5.2 +13.1
KGRN KraneShares MSCI China Clean Technology Index ETF 2.1 79 -9 5.6 +13.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.0 60 10 9.8 +17.7
EMFQ Amplify Emerging Markets FinTech ETF 2.0 69 1 5.3 +13.2
WRND IQ Global Equity R&D Leaders ETF 2.0 18 52 7.5 +15.4
IXUS iShares Core MSCI Total International Stock ETF 2.0 7 63 7.2 +15.1
RXI iShares Global Consumer Discretionary ETF 2.0 41 29 5.4 +13.3
VXUS Vanguard Total International Stock ETF 1.9 7 63 7.2 +15.1
CGXU Capital Group International Focus Equity ETF 1.9 54 16 4.9 +12.8
XNTK SPDR NYSE Technology ETF 1.8 35 35 4.2 +12.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.8 41 29 7.4 +15.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.8 18 52 7.0 +14.9
ECON Columbia Emerging Markets Consumer ETF 1.8 49 21 7.3 +15.2
FEM First Trust Emerging Markets AlphaDEX Fund 1.6 80 -10 13.0 +21.0
KOCG FIS Knights of Columbus Global Belief ETF 1.6 75 -5 5.0 +12.9
PGJ Invesco Golden Dragon China ETF 1.5 70 0 4.9 +12.8
IBUY Amplify Online Retail ETF 1.5 65 5 1.4 +9.3
BWEB Bitwise Web3 ETF 1.4 85 -15 0.7 +8.6
FDTX Fidelity Disruptive Technology ETF 1.4 50 20 2.8 +10.7
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 1.4 75 -5 4.6 +12.5
RAYC Rayliant Quantamental China Equity ETF 1.3 80 -10 8.6 +16.5
BIGFX Baron International Growth Retail 1.3 75 -5 3.1 +11.1
AFTY Pacer CSOP FTSE China A50 ETF 1.3 70 0 9.0 +16.9
GINN Goldman Sachs Innovate Equity ETF 1.3 52 18 2.8 +10.7
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.3 61 9 1.2 +9.1
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 1.2 55 15 8.5 +16.4
IOO iShares Global 100 ETF 1.1 41 29 4.8 +12.7
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 1.1 58 12 5.0 +12.9
VSGX Vanguard ESG International Stock ETF 1.1 12 58 6.8 +14.7
CGIE Capital Group International Equity ETF 1.1 54 16 4.9 +12.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 50 20 13.0 +20.9
IDAT iShares Future Cloud 5G and Tech ETF 1.0 47 23 4.3 +12.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 0.9 35 35 4.6 +12.5
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.9 90 -20 6.1 +14.0
KLMT Invesco MSCI Global Climate 500 ETF 0.9 10 60 5.4 +13.3
AWAY ETFMG Travel Tech ETF 0.9 76 -6 -5.2 +2.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.9 30 40 8.0 +15.9
AVES Avantis Emerging Markets Value ETF 0.8 36 34 11.6 +19.5
FCLD Fidelity Cloud Computing ETF 0.8 39 31 3.1 +11.0
WFH Direxion Work From Home ETF 0.8 45 25 6.0 +13.9
SDG iShares MSCI Global Sustainable Development Goals ETF 0.8 49 21 5.6 +13.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 23 9.4 +17.3
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.8 65 5 8.2 +16.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.8 12 58 4.8 +12.7
DFEV Dimensional Emerging Markets Value ETF 0.8 43 27 11.1 +19.0
ACWI iShares MSCI ACWI ETF 0.8 32 38 5.3 +13.2
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.7 61 9 -2.4 +5.5
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 23 12.9 +20.8
GTEK Goldman Sachs Future Tech Leaders Equity ETF 0.7 75 -5 2.9 +10.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.7 20 50 5.2 +13.1
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.7 80 -10 12.3 +20.2
DGT SPDR Global Dow ETF 0.7 50 20 6.8 +14.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 61 5.4 +13.3
VT Vanguard Total World Stock ETF 0.7 7 63 5.5 +13.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.7 25 45 6.6 +14.6
FCA First Trust China AlphaDEX Fund 0.7 80 -10 16.2 +24.1
JFWD Jacob Forward ETF 0.6 75 -5 0.0 +7.9
TRFM AAM Transformers ETF 0.6 49 21 2.0 +9.9
APIE ActivePassive International Equity ETF 0.6 45 25 8.1 +16.0
CNXT VanEck ChiNext ETF 0.6 65 5 4.1 +12.0
IGPT Invesco AI and Next Gen Software ETF 0.6 60 10 3.8 +11.7
QINT American Century Quality Diversified International ETF 0.5 39 31 7.7 +15.6
QQQ Invesco QQQ Trust Series I 0.5 20 50 4.5 +12.5
QQQM Invesco NASDAQ 100 ETF 0.5 15 55 4.6 +12.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.5 70 0 7.7 +15.6
MVPS Amplify Thematic All-Stars ETF 0.5 49 21 2.7 +10.6
GLOF iShares Global Equity Factor ETF 0.4 20 50 7.0 +14.9
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.4 65 5 0.2 +8.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.4 70 0 9.2 +17.1
XT iShares Exponential Technologies ETF 0.4 46 24 4.8 +12.7
ONEQ Fidelity Nasdaq Composite Index ETF 0.3 21 49 3.8 +11.7
FBCG Fidelity Blue Chip Growth ETF 0.3 59 11 2.8 +10.7
KOMP SPDR S&P Kensho New Economies Composite ETF 0.3 20 50 1.0 +8.9
QQMG Invesco ESG NASDAQ 100 ETF 0.3 20 50 4.7 +12.6
EWX SPDR S&P Emerging Markets Small Cap ETF 0.3 65 5 8.2 +16.1
DVYE iShares Emerging Markets Dividend ETF 0.2 49 21 18.8 +26.7
GGME Invesco Next Gen Media and Gaming ETF 0.2 60 10 3.5 +11.4
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.2 50 20 5.7 +13.7
ETEC iShares Breakthrough Environmental Solutions ETF 0.2 47 23 8.0 +15.9
ROAM Hartford Multifactor Emerging Markets ETF 0.1 44 26 15.8 +23.7
ICLN iShares Global Clean Energy ETF 0.1 41 29 6.0 +13.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.1 44 26 10.6 +18.5
PNQI Invesco NASDAQ Internet ETF 0.1 60 10 2.3 +10.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 31 7.2 +15.1
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.0 45 25 5.7 +13.6
IGRO iShares International Dividend Growth ETF 0.0 15 55 7.5 +15.5
VYMI Vanguard International High Dividend Yield ETF 0.0 22 48 9.8 +17.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 31 7.5 +15.5
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -19 4.9 +12.8
VIGI Vanguard International Dividend Appreciation ETF 0.0 15 55 6.4 +14.3

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Invesco China Technology ETF
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 -13.1 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 70 bp
Equals: ALTAR Score -7.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.35 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.