Xtrackers MSCI Emg. Mkts. Hedged
ALTAR
Score™
8.3% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
13.5x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers MSCI Emerging Markets Hedged Equity Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EM US Dollar Hedged Net Index (the "Underlying Index").

FUND BASICS
Category US Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Jun 09, 2011
Assets (mns) $112
Currency USD
Expense ratio 65 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1223
Wgt avg mkt cap (mns) $95,729
Large cap (>$10bn) 70.7%
Mid cap ($2-10bn) 26.9%
Small cap (<$2bn) 1.5%
Developed mkts 7.4%
Emerging mkts 90.1%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 5.7 %
TAIWAN SEMICONDUCTOR MANUFAC 4.2 %
TENCENT HOLDINGS LTD 4.1 %
SAMSUNG ELECTRONICS CO LTD 3.3 %
CHINA CONSTRUCTION BANK-H 1.3 %
PING AN INSURANCE GROUP CO-H 1.1 %
RELIANCE INDS-SPONS GDR 144A 1.0 %
NASPERS LTD-N SHS 1.0 %
HOUSING DEVELOPMENT FINANCE 0.9 %
CHINA MOBILE LIMITED 0.8 %
Total 23.3 %

TOP COUNTRY EXPOSURE
CHINA 28.0 %
TAIWAN 11.4 %
SOUTH KOREA 11.0 %
INDIA 8.7 %
BRAZIL 7.1 %
HONG KONG 4.6 %
SOUTH AFRICA 4.4 %
RUSSIA 3.7 %
THAILAND 2.5 %
SAUDI ARABIA 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
10.3% 7.6% 2.6% -- 1.5%

Market Correlations
versus... Beta R-squared
S&P500 0.71 56%
MSCI EAFE 0.88 72%
MSCI Emg. Mkts. 0.78 91%

Technical Indicators
Recent close $23.06
30d moving avg. $22.97
Annualized volatility 11.4%
Short interest (ETF) 0.2%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 30
Turnover 0.6%
Bid/Ask (% of price) 0.51%
ADV underlying (mns) $39,027

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DBEM Expense: 65 bp ALTAR Score™: 8.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DBEM
Ticker Fund
Name
Overlap1
vs DBEM
(%)
Expense
ratio
(bp)
Savings
vs DBEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs DBEM
(%)
EEM iShares MSCI Emerging Markets 91.6 67 -2 8.4 +0.1
IEMG iShares Core MSCI Emerging Markets 84.3 14 51 8.6 +0.3
SCHE Schwab Emerging Markets Equity 73.6 13 52 8.6 +0.2
VWO Vanguard Emerging Markets 69.1 12 53 8.5 +0.2
PBEE Invesco PureBeta FTSE Emerging Markets 69.0 14 51 9.2 +0.9
AAXJ iShares MSCI Asia ex-Japan 68.0 67 -2 8.1 -0.2
EEMA iShares MSCI Emg Mkts Asia 67.1 50 15 8.6 +0.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 66.1 30 35 8.4 +0.1
JHEM John Hancock Multifactor Emerging Markets 66.0 55 10 8.7 +0.4
FLAX Franklin FTSE Asia Ex Japan 65.4 19 46 8.6 +0.3
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 63.0 45 20 9.0 +0.6
XSOE WisdomTree Emg Mkt ex-SOE 57.7 32 33 6.8 -1.5
TLTE FlexShares Mngstr Emerging Markets Factor Tilt 57.0 59 6 10.4 +2.1
SPEM SPDR Portfolio Emerging Markets 56.8 11 54 8.4 +0.0
EMXC iShares MSCI Emerging Markets ex China 51.5 49 16 8.6 +0.3
REEM Invesco Emerging Markets Revenue ETF 51.3 46 19 11.8 +3.4
ESGE iShares MSCI EM ESG Optimized 50.8 25 40 9.2 +0.9
QEMM SPDR MSCI Emerging Markets Quality Mix 50.5 30 35 9.0 +0.7
BKF iShares MSCI BRIC 48.7 67 -2 8.6 +0.2
DVEM WisdomTree Emerging Markets Dividend 47.1 32 33 11.2 +2.9

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Emg. Mkts. Hedged
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 12.8 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 8.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.56
 
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.