Global X E-commerce
ALTAR
Score™
3.2% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
28.5x P/Sales
ratio
1.6x
P/BV
ratio
3.8x Div.
yield
0.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X E-commerce ETF seeks to invest in companies positioned to benefit from the increased adoption of E-commerce as a distribution model, including companies whose principal business is in operating E-commerce platforms, providing E-commerce software and services, and/or selling goods and services online.

FUND BASICS
Category Global Equities
Fund Sponsor Global X
Website www.globalxfunds.com
Inception date Nov 27, 2018
Assets (mns) $3
Currency USD
Expense ratio 68 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 39
Wgt avg mkt cap (mns) $70,140
Large cap (>$10bn) 58.0%
Mid cap ($2-10bn) 34.3%
Small cap (<$2bn) 6.3%
Developed mkts 73.2%
Emerging mkts 26.8%

TOP TEN HOLDINGS
NETEASE.COM INC-ADR 5.1 %
VIPSHOP HOLDINGS LTD SPONSORED ADR 4.8 %
ALIBABA GROUP HOLDING LTD. SPONSOR 4.7 %
JD.COM INC-ADR 4.7 %
OCADO GROUP PLC 4.6 %
BOOKING HOLDINGS INC. 4.4 %
58.COM INC. SPONSORED ADR CLASS A 4.1 %
GODADDY, INC. CLASS A 4.1 %
COSTAR GROUP INC 4.1 %
SHOPIFY, INC. CLASS A 4.0 %
Total 44.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 47.3 %
CHINA 30.2 %
BRITAIN 9.9 %
CANADA 4.0 %
JAPAN 3.8 %
ARGENTINA 3.3 %
GERMANY 1.2 %
SOUTH KOREA 0.3 %



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.
26.3% -- -- -- 12.3%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $17.11
30d moving avg. $17.44
Annualized volatility 0.0%
Short interest (ETF) 2.6%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.0%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $11,432

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X E-commerce ETF based on the alternatives' overlap in portfolio holdings with EBIZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EBIZ Expense: 68 bp ALTAR Score™: 3.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EBIZ
Ticker Fund
Name
Overlap1
vs EBIZ
(%)
Expense
ratio
(bp)
Savings
vs EBIZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs EBIZ
(%)
IBUY Amplify Online Retail 40.4 65 3 2.4 -0.8
TTTN TigerShares China-U.S. Internet Titans 39.5 59 9 4.0 +0.8
PNQI Invesco Nasdaq Internet 34.9 62 6 2.9 -0.4
PLAT WisdomTree Modern Tech Platforms 32.8 45 23 2.9 -0.4
ONLN ProShares Online Retail 31.3 58 10 2.9 -0.4
XWEB SPDR S&P Internet 26.5 35 33 2.2 -1.1
PGJ Invesco Golden Dragon China 26.0 70 -2 4.5 +1.2
EMQQ Emerging Markets Internet & E-Commerce 25.7 86 -18 4.4 +1.2
KWEB KraneShares CSI China Internet 24.3 76 -8 5.0 +1.8
FDNI First Trust Dow Jones International Internet 24.2 65 3 4.7 +1.5
GIGE SoFi Gig Economy 23.1 59 9 0.5 -2.7
GBUY Goldman Sachs Motif New Age Consumer 22.5 50 18 3.6 +0.4
FNI First Trust ISE Chindia 20.4 59 9 4.3 +1.1
KEMQ KraneShares EM Consumer Focus 19.8 80 -12 8.9 +5.7
CHIQ Global X MSCI China Consumer Discretionary 18.2 65 3 5.4 +2.2
XBUY Amplify International Online Retail 17.4 69 -1 1.4 -1.8
ARKF ARK Fintech Innovation 16.2 75 -7 2.0 -1.3
OGIG O'Shares Global Internet Giants 16.1 48 20 1.6 -1.7
FDN First Trust DJ Internet 14.0 52 16 3.4 +0.2
CQQQ Invesco China Technology 13.5 70 -2 5.4 +2.2

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

  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:
Global X E-commerce
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.1 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 3.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.54
 
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.