Invesco BRIC
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
14.8x P/Sales
ratio
1.1x
P/BV
ratio
1.7x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Claymore/BNY Mellon BRIC ETF seeks investment results that correspond generally to the performance of the Bank of New York BRIC Select ADR Index, which is comprised of American depository receipts and global depository receipts.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Guggenheim
Website guggenheiminvestments.com
Inception date Sep 21, 2006
Assets (mns) $63
Currency USD
Expense ratio 64 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 118
Wgt avg mkt cap (mns) $100,847
Large cap (>$10bn) 79.5%
Mid cap ($2-10bn) 10.3%
Small cap (<$2bn) 1.1%
Developed mkts 10.3%
Emerging mkts 89.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 10.1 %
GAZPROM OAO-SPON ADR 4.9 %
CHINA MOBILE LIMITED 4.5 %
OIL COMPANY LUKOIL PJSC SPONSORED 4.4 %
VALE SA-SP ADR 4.1 %
ITAU UNIBANCO HLDNG-PREF ADR 4.0 %
SBERBANK-SPONSORED ADR 3.9 %
BAIDU INC - SPON ADR 3.9 %
INFOSYS TECHNOLOGIES-SP ADR 3.5 %
JD.COM INC-ADR 3.4 %
Total 46.6 %

TOP COUNTRY EXPOSURE
CHINA 39.7 %
RUSSIA 22.2 %
BRAZIL 21.5 %
INDIA 9.7 %
HONG KONG 5.4 %
NETHERLANDS 0.6 %
CYPRUS 0.3 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
25.8% 25.8% 8.9% 1.8% 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.92 50%
MSCI EAFE 1.16 65%
MSCI Emg. Mkts. 1.01 85%

Technical Indicators
Recent close $40.73
30d moving avg. $39.51
Annualized volatility 15.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.3%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $6,612

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco BRIC ETF based on the alternatives' overlap in portfolio holdings with EEB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EEB Expense: 64 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EEB
Ticker Fund
Name
Overlap1
vs EEB
(%)
Expense
ratio
(bp)
Savings
vs EEB
(bp)
ALTAR
Score™
(%)
ALTAR
vs EEB
(%)
ADRE BLDRs Emerging Markets 50 ADR 46.0 30 34 5.8 -0.3
FNI First Trust ISE Chindia 38.7 59 5 3.6 -2.5
PGJ Invesco Golden Dragon China 30.6 70 -6 3.2 -2.9
CHIL Global X MSCI China Large-Cap 50 30.4 29 35 9.3 +3.2
KWEB KraneShares CSI China Internet 28.7 76 -12 3.5 -2.6
CXSE WisdomTree China ex-State Owned Enterprises 28.0 32 32 6.2 +0.1
ECON Columbia Emerging Markets Consumer 27.3 59 5 5.0 -1.1
ADRA BLDRs Asia 50 ADR 27.2 30 34 8.7 +2.6
FLCH Franklin FTSE China 25.2 19 45 8.6 +2.5
MCHI iShares MSCI China 25.1 59 5 8.1 +2.0
EMQQ Emerging Markets Internet & E-Commerce 25.0 86 -22 3.2 -2.9
FDNI First Trust Dow Jones International Internet 24.3 65 -1 3.8 -2.4
GXC SPDR S&P China ETF 24.0 59 5 8.1 +2.0
KALL KraneShares MSCI China All Shares 22.4 49 15 8.1 +2.0
BICK First Trust BICK Index Fund 22.1 64 0 4.9 -1.2
PNQI Invesco Nasdaq Internet 21.8 62 2 2.4 -3.7
ISEM Invesco Strategic Emerging Markets 21.4 35 29 9.2 +3.1
CHIQ Global X MSCI China Consumer Discretionary 21.0 65 -1 4.7 -1.4
KEMQ KraneShares EM Consumer Focus 21.0 80 -16 8.3 +2.2
TTTN TigerShares China-U.S. Internet Titans 20.8 59 5 3.6 -2.5

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

Content on this tab for subscribers only

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:
Invesco BRIC
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 11.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 64 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 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.