Global X DAX Germany ETF
ALTAR
Score™
7.7% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.4x P/Sales
ratio
1.0x
P/BV
ratio
1.5x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X DAX Germany ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to provide investment results that will closely correspond to the DAX? Index using a quarterly rebalance frequency and weighting the securities by market cap. The underlying index holds 30 German blue chip stocks that are traded on the Frankfurt Stock Exchange.

FUND BASICS
Category International Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Oct 22, 2014
Assets (mns) $20
Currency USD
Expense ratio 21 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 30
Wgt avg mkt cap (mns) $71,951
Large cap (>$10bn) 98.5%
Mid cap ($2-10bn) 1.4%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SAP AG 10.4 %
PRAXAIR INC 10.2 %
SIEMENS AG-REG 8.3 %
ALLIANZ SE-REG 7.9 %
BAYER AG 6.8 %
DEUTSCHE TELEKOM AG 5.1 %
BASF SE 4.9 %
ADIDAS AG 4.4 %
MUENCHENER RUECKVER AG-REG 3.4 %
DEUTSCHE POST AG-REG 3.4 %
Total 64.8 %

TOP COUNTRY EXPOSURE
GERMANY 89.8 %
BRITAIN 10.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.2% -0.5% 1.9% -- 2.5%

Market Correlations
versus... Beta R-squared
S&P500 0.89 62%
MSCI EAFE 1.09 81%
MSCI Emg. Mkts. 0.79 66%

Technical Indicators
Recent close $26.49
30d moving avg. $25.80
Annualized volatility 19.2%
Short interest (ETF) 0.6%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 20
Turnover 2.7%
Bid/Ask (% of price) 1.12%
ADV underlying (mns) $6,798

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Global X DAX Germany ETF ETF based on the alternatives' overlap in portfolio holdings with DAX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DAX Expense: 21 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DAX
Ticker Fund
Name
Overlap1
vs DAX
(%)
Expense
ratio
(bp)
Savings
vs DAX
(bp)
ALTAR
Score™
(%)
ALTAR
vs DAX
(%)
QDEU SPDR MSCI Germany Quality Mix ETF 85.1 14 7 7.6 -0.1
EWG iShares MSCI Germany ETF 80.0 49 -28 7.0 -0.7
DBGR Xtrackers MSCI Germany Hedged Equity ETF 78.3 45 -24 7.0 -0.7
FLGR Franklin FTSE Germany ETF 77.6 9 12 7.4 -0.3
DXGE WisdomTree Germany Hedged Equity Fund 61.3 48 -27 8.8 +1.1
FEZ SPDR EURO STOXX 50 ETF 28.9 29 -8 7.1 -0.6
HEDJ WisdomTree Europe Hedged Equity Fund 24.1 58 -37 6.9 -0.8
EZU iShares MSCI Eurozone ETF 23.6 49 -28 6.6 -1.1
EURZ Xtrackers Eurozone Equity ETF 23.3 9 12 7.1 -0.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 20.8 45 -24 6.8 -0.9
FGM First Trust Germany AlphaDEX Fund 19.9 80 -59 6.8 -0.9
EUFN iShares MSCI Europe Financials ETF 14.1 48 -27 11.8 +4.1
IDRV iShares Self-driving EV & Tech ETF 13.4 47 -26 7.2 -0.5
IEV iShares Europe ETF 12.6 59 -38 6.8 -0.9
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 12.0 30 -9 6.8 -0.9
FLEE Franklin FTSE Europe ETF 11.8 9 12 7.0 -0.7
FLEH Franklin FTSE Europe Hedged ETF 11.8 9 12 7.1 -0.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 11.7 45 -24 6.6 -1.1
FTAG First Trust Indxx Global Agriculture ETF 11.7 70 -49 6.5 -1.2
DTH WisdomTree DEFA Equity Income Fund 10.8 58 -37 9.7 +2.0
VGK Vanguard FTSE Europe ETF 10.7 8 13 7.5 -0.2
IEUR iShares Core MSCI Europe ETF 10.6 9 12 7.3 -0.4
IGRO iShares International Dividend Growth ETF 10.6 22 -1 8.1 +0.4
EKAR Innovation Shares NextGen Vehicles & Technology ETF 10.4 95 -74 8.6 +0.9
EFV iShares MSCI EAFE Value ETF 10.3 39 -18 9.6 +1.9
FEU SPDR Portfolio Europe ETF 10.3 9 12 7.4 -0.3
VAW Vanguard Materials Index Fund 10.2 10 11 6.1 -1.6
FMAT Fidelity MSCI Materials Index ETF 10.2 8 13 6.1 -1.6
XLB Materials Select Sector SPDR Fund 10.2 13 8 5.9 -1.8
IYM iShares U.S. Basic Materials ETF 10.2 42 -21 5.4 -2.3
BBEU JPMorgan BetaBuilders Europe ETF 10.2 9 12 7.4 -0.3
IQIN IQ 500 International ETF 9.8 25 -4 9.0 +1.3
MXI iShares Global Materials ETF 9.7 46 -25 6.1 -1.6
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 9.5 20 1 9.5 +1.8
DOL WisdomTree International LargeCap Dividend Fund 9.5 48 -27 8.6 +0.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 9.3 25 -4 6.6 -1.1
FEUZ First Trust Eurozone AlphaDEX ETF 8.9 80 -59 7.8 +0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 8.8 45 -24 9.0 +1.3
MOTI VanEck Vectors Morningstar International Moat ETF 8.8 57 -36 8.7 +1.0
DOO WisdomTree International Dividend ex-Financials Fund 8.7 58 -37 8.8 +1.1
JHMD John Hancock Multifactor Developed International ETF 8.5 39 -18 7.5 -0.2
FDD First Trust Stoxx European Select Dividend Index Fund 8.4 58 -37 11.5 +3.8
FIVA Fidelity International Value Factor ETF 8.0 39 -18 10.1 +2.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 7.8 35 -14 6.9 -0.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 7.8 20 1 7.1 -0.5
CARZ First Trust NASDAQ Global Auto Index Fund 7.7 70 -49 15.2 +7.5
EUMV iShares Edge MSCI Min Vol Europe ETF 7.7 25 -4 5.0 -2.7
FNDF Schwab Fundamental International Large Co. Index ETF 7.7 25 -4 8.9 +1.2
EFA iShares MSCI EAFE ETF 7.5 32 -11 7.1 -0.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 7.5 20 1 11.1 +3.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 7.5 35 -14 6.9 -0.8
NUDM Nuveen ESG International Developed Markets Equity ETF 7.3 40 -19 7.0 -0.7
OEUR O'shares FTSE Europe Quality Dividend ETF 7.3 48 -27 6.6 -1.1
VYMI Vanguard International High Dividend Yield ETF 7.3 32 -11 10.3 +2.6
HFXI IQ 50 Percent Hedged FTSE International ETF 7.2 20 1 7.5 -0.2
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 7.2 70 -49 7.9 +0.2
IQSI IQ Candriam ESG International Equity ETF 7.2 15 6 7.3 -0.3
FIDI Fidelity International High Dividend ETF 7.0 39 -18 11.0 +3.4
DWM WisdomTree International Equity Fund 7.0 48 -27 8.3 +0.6
ISDX Invesco Strategic Developed ex-US ETF 6.9 23 -2 7.6 -0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 6.9 7 14 7.6 -0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 6.9 35 -14 8.5 +0.8
MOO VanEck Vectors Agribusiness ETF 6.8 56 -35 5.5 -2.2
JPEU JPMorgan Diversified Return Europe Equity ETF 6.7 37 -16 7.0 -0.7
IVLU iShares Edge MSCI Intl Value Factor ETF 6.7 30 -9 11.4 +3.7
ESGD iShares MSCI EAFE ESG Optimized ETF 6.6 20 1 7.0 -0.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 6.6 14 7 7.0 -0.7
IEFA iShares Core MSCI EAFE ETF 6.5 7 14 7.4 -0.3
EUDG WisdomTree Europe Quality Dividend Growth Fund 6.5 58 -37 6.1 -1.6
GSID Goldman Sachs MarketBeta International Equity ETF 6.4 20 1 7.4 -0.3
SCHF Schwab International Equity ETF 6.4 6 15 7.4 -0.3
PDEV Principal International Multi-Factor Core Index ETF 6.3 25 -4 8.0 +0.3
BKIE BNY Mellon International Equity ETF 6.3 4 17 7.5 -0.2
JHMA John Hancock Multifactor Materials ETF 6.2 40 -19 6.8 -0.9
FAN First Trust Global Wind Energy ETF 6.2 62 -41 6.3 -1.4
MOTO SmartETFs Smart Transportation & Technology ETF 6.1 68 -47 7.9 +0.2
IDY Pacific Global International Equity Income ETF 5.6 39 -18 8.1 +0.4
VEA Vanguard FTSE Developed Markets ETF 5.6 5 16 7.5 -0.2
SPDW SPDR Portfolio Developed World ex-US ETF 5.5 4 17 7.2 -0.4
LVHI Legg Mason International Low Volatility High Dividend ETF 5.5 40 -19 9.2 +1.5
FEP First Trust Europe AlphaDEX Fund 5.4 80 -59 7.8 +0.1
CWI SPDR MSCI ACWI ex-US ETF 5.4 30 -9 7.3 -0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 5.4 25 -4 6.7 -1.0
IDEV iShares Core MSCI International Developed Markets ETF 5.1 5 16 7.3 -0.4
DGT SPDR Global Dow ETF 5.0 50 -29 6.8 -0.9
IQDG WisdomTree International Quality Dividend Growth Fund 4.9 38 -17 6.4 -1.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.9 58 -37 6.3 -1.4
ACWX iShares MSCI ACWI ex U.S. ETF 4.9 32 -11 7.4 -0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 4.9 40 -19 7.1 -0.6
BLCN Reality Shares Nasdaq NextGen Economy ETF 4.8 68 -47 4.2 -3.5
EFG iShares MSCI EAFE Growth ETF 4.8 40 -19 4.6 -3.1
RNDM Developed International Equity Select ETF 4.7 65 -44 6.5 -1.2
VEU Vanguard FTSE All-World ex-US Index Fund 4.7 8 13 7.7 0.0
MVIN Natixis Seeyond International Minimum Volatility ETF 4.6 56 -35 5.4 -2.3
QEFA SPDR MSCI EAFE Quality Mix ETF 4.6 30 -9 6.9 -0.8
DMDV AAM S&P Developed Markets High Dividend Value ETF 4.6 39 -18 11.1 +3.5
GDVD Principal Active Global Dividend Income ETF 4.5 58 -37 5.1 -2.6
IMTM iShares Edge MSCI Intl Momentum Factor ETF 4.4 30 -9 4.4 -3.3
SCID Global X Scientific Beta Europe ETF 4.4 39 -18 6.5 -1.2

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 DAX Germany 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 11.2 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 21 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.59
 
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.