AAM S&P Emerging Markets High Dividend Value ETF
ALTAR
Score™
22.1% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
9.6x P/Sales
ratio
0.5x
P/BV
ratio
0.5x Div.
yield
6.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The AAM S&P Emerging Markets High Dividend Value ETF seeks to provide investment results that, before fees and expenses, track the total return performance of the S&P Emerging Markets Dividend and Free Cash Flow Yield Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Advisors Asset Mgmt
Website www.aamlive.com
Inception date Nov 28, 2017
Assets (mns) $3
Currency USD
Expense ratio 50 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 55
Wgt avg mkt cap (mns) $7,540
Large cap (>$10bn) 20.9%
Mid cap ($2-10bn) 58.2%
Small cap (<$2bn) 20.9%
Developed mkts 9.6%
Emerging mkts 88.5%

TOP TEN HOLDINGS
SYNNEX TECHNOLOGY INTL CORP 2.8 %
LIVZON PHARMACEUTICAL GROU-H 2.6 %
CHINA RESOURCES CEMENT 2.5 %
WISTRON CORP 2.4 %
YANZHOU COAL MINING CO-H 2.4 %
LONGFOR PROPERTIES 2.4 %
COLBUN SA 2.3 %
UNI-PRESIDENT ENTERPRISES CO 2.3 %
TISCO FINANCIAL GROUP PUBLIC CO. L 2.3 %
GREAT WALL MOTOR COMPANY-H 2.2 %
Total 24.1 %

TOP COUNTRY EXPOSURE
CHINA 23.5 %
TAIWAN 20.1 %
SOUTH AFRICA 6.5 %
INDONESIA 6.3 %
TURKEY 5.9 %
RUSSIA 5.4 %
HONG KONG 4.4 %
BRAZIL 3.7 %
MALAYSIA 3.2 %
CHILE 2.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.9% -20.7% -- -- -10.7%

Market Correlations
versus... Beta R-squared
S&P500 0.91 61%
MSCI EAFE 1.10 75%
MSCI Emg. Mkts. 0.97 89%

Technical Indicators
Recent close $17.11
30d moving avg. $16.57
Annualized volatility 21.7%
Short interest (ETF) 0.7%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.6%
Bid/Ask (% of price) 0.48%
ADV underlying (mns) $1,161

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the AAM S&P Emerging Markets High Dividend Value ETF ETF based on the alternatives' overlap in portfolio holdings with EEMD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EEMD Expense: 50 bp ALTAR Score™: 22.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EEMD
Ticker Fund
Name
Overlap1
vs EEMD
(%)
Expense
ratio
(bp)
Savings
vs EEMD
(bp)
ALTAR
Score™
(%)
ALTAR
vs EEMD
(%)
ECOW Pacer Emerging Markets Cash Cows 100 ETF 19.7 70 -20 13.7 -8.4
SDEM Global X SuperDividend Emerging Markets ETF 17.4 67 -17 23.7 +1.6
EDOG ALPS Emerging Sector Dividend Dogs ETF 12.7 60 -10 11.1 -11.0
EYLD Cambria Emerging Shareholder Yield ETF 10.1 66 -16 17.8 -4.3
EDIV SPDR S&P Emerging Markets Dividend ETF 9.7 49 1 12.2 -9.9
FCA First Trust China AlphaDEX Fund 9.4 80 -30 15.9 -6.2
ISEM Invesco Strategic Emerging Markets ETF 7.6 35 15 11.1 -11.0
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 7.3 45 5 14.3 -7.8
RSX VanEck Vectors Russia ETF 7.2 65 -15 13.8 -8.3
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 7.2 51 -1 14.3 -7.8
EMMF WisdomTree Emerging Markets Multifactor Fund 7.1 48 2 10.4 -11.6
RNEM Emerging Markets Equity Select ETF 7.0 75 -25 11.2 -10.9
SDIV Global X SuperDividend ETF 6.5 58 -8 18.8 -3.3
FXI iShares China Large-Cap ETF 6.5 74 -24 14.2 -7.9
CHIR Global X MSCI China Real Estate ETF 6.5 65 -15 19.2 -2.9
DEM WisdomTree Emerging Markets High Dividend Fund 6.4 63 -13 14.9 -7.2
KOL VanEck Vectors Coal ETF 6.3 60 -10 20.2 -1.9
ROAM Hartford Multifactor Emerging Markets ETF 6.2 44 6 15.9 -6.2
FEM First Trust Emerging Markets AlphaDEX Fund 6.2 80 -30 12.4 -9.7
ECON Columbia Emerging Markets Consumer ETF 5.9 59 -9 5.2 -16.9
EZA iShares MSCI South Africa ETF 5.7 59 -9 10.2 -11.8
FLZA Franklin FTSE South Africa ETF 5.7 19 31 12.4 -9.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.7 32 18 10.1 -12.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 5.5 45 5 10.4 -11.6
EIDO iShares MSCI Indonesia ETF 5.5 59 -9 12.0 -10.1
ERUS iShares MSCI Russia ETF 5.4 59 -9 16.2 -5.9
DVYE iShares Emerging Markets Dividend ETF 5.1 49 1 13.6 -8.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 5.1 50 0 10.6 -11.5
PXH Invesco FTSE RAFI Emerging Markets ETF 5.0 50 0 14.6 -7.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 4.9 45 5 9.4 -12.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 4.8 47 3 14.5 -7.6
CHIE Global X China Energy ETF 4.6 66 -16 11.5 -10.6
CHNA Loncar China BioPharma ETF 4.6 79 -29 3.8 -18.2
FLTW Franklin FTSE Taiwan ETF 4.5 19 31 7.0 -15.1
EELV Invesco S&P Emerging Markets Low Volatility ETF 4.5 29 21 10.3 -11.7
IDX VanEck Vectors Indonesia Index ETF 4.5 57 -7 10.8 -11.3
FDEM Fidelity Targeted Emerging Markets Factor ETF 4.4 45 5 10.4 -11.7
TUR iShares MSCI Turkey ETF 4.2 59 -9 19.1 -3.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 4.2 45 5 9.1 -12.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 4.2 39 11 14.0 -8.1
EWT iShares MSCI Taiwan ETF 4.1 59 -9 6.7 -15.4
DRW WisdomTree Global ex-US Real Estate Fund 4.1 58 -8 11.5 -10.6
PIE Invesco DWA Emerging Markets Momentum ETF 4.0 90 -40 6.1 -16.0
EMXC iShares MSCI Emerging Markets ex China ETF 4.0 49 1 8.9 -13.1
ESGE iShares ESG MSCI EM ETF 3.9 25 25 10.3 -11.8
IQDE FlexShares International Quality Dividend Defensive Index Fd 3.8 47 3 13.4 -8.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 3.8 49 1 9.6 -12.5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.7 63 -13 13.9 -8.2
IQDF FlexShares International Quality Dividend Index Fund 3.7 47 3 13.8 -8.2
EMCG WisdomTree Emerging Markets Consumer Growth Fund 3.7 32 18 8.0 -14.1
FBZ First Trust Brazil AlphaDEX Fund 3.6 80 -30 6.3 -15.8
FLRU Franklin FTSE Russia ETF 3.4 19 31 19.9 -2.1
CHIM Global X China Materials ETF 3.4 65 -15 11.4 -10.7
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 3.3 80 -30 21.1 -1.0
VIDI Vident International Equity Fund 3.3 59 -9 12.6 -9.5
PBEE Invesco PureBeta FTSE Emerging Markets ETF 3.1 14 36 10.1 -12.0
GULF WisdomTree Middle East Dividend Fund 3.1 88 -38 8.7 -13.4
BKF iShares MSCI BRIC ETF 3.1 69 -19 9.0 -13.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.1 95 -45 10.9 -11.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 3.0 20 30 8.1 -14.0
DVEM WisdomTree Emerging Markets Dividend Fund 3.0 32 18 9.6 -12.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 3.0 20 30 11.6 -10.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.0 60 -10 9.1 -12.9
EMFM Global X MSCI Next Emerging & Frontier ETF 2.9 55 -5 9.2 -12.8
DWCR Arrow DWA Country Rotation ETF 2.8 95 -45 18.5 -3.6
VWO Vanguard FTSE Emerging Markets ETF 2.8 10 40 9.4 -12.7
AXJL WisdomTree Asia Pacific ex-Japan Fund 2.7 48 2 10.1 -12.0
LVIN Hartford Multifactor Low Volatility International Equity ETF 2.7 29 21 13.0 -9.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.7 49 1 8.9 -13.2
EEM iShares MSCI Emerging Markets ETF 2.6 68 -18 8.8 -13.3
EEMO Invesco S&P Emerging Markets Momentum ETF 2.6 30 20 7.6 -14.4
VNQI Vanguard Global ex-US Real Estate Index Fund 2.5 12 38 10.7 -11.4
JHEM John Hancock Multifactor Emerging Markets ETF 2.5 55 -5 9.5 -12.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.5 59 -9 11.8 -10.3
IEMG iShares Core MSCI Emerging Markets ETF 2.4 14 36 9.3 -12.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.3 30 20 9.8 -12.2
ECH iShares MSCI Chile ETF 2.3 59 -9 8.9 -13.2
GRES IQ Global Resources ETF 2.3 77 -27 7.7 -14.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.3 65 -15 8.9 -13.1
FILL iShares MSCI Global Energy Producers ETF 2.3 39 11 6.5 -15.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.3 40 10 8.1 -13.9
EWZ iShares MSCI Brazil Capped ETF 2.3 59 -9 5.4 -16.7
FLBR Franklin FTSE Brazil ETF 2.2 19 31 6.0 -16.0
FLCH Franklin FTSE China ETF 2.2 19 31 9.7 -12.3
AVEM Avantis Emerging Markets Equity ETF 2.2 33 17 10.1 -11.9
MCHI iShares MSCI China ETF 2.2 59 -9 9.6 -12.5
SCHE Schwab Emerging Markets Equity ETF 2.2 13 37 9.2 -12.9
OBOR KraneShares MSCI One Belt One Road Index ETF 2.2 79 -29 10.4 -11.7
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 2.1 30 20 9.3 -12.8
FM iShares MSCI Frontier 100 ETF 2.1 79 -29 10.8 -11.3
GMF SPDR S&P Emerging Asia Pacific ETF 2.1 49 1 8.5 -13.6
QAT iShares MSCI Qatar Capped ETF 2.1 59 -9 7.5 -14.5
CHIU Global X MSCI China Utilities ETF 2.1 65 -15 9.5 -12.6
NLR VanEck Vectors Uranium+Nuclear Energy ETF 2.1 60 -10 8.9 -13.2
EMIF iShares Emerging Markets Infrastructure ETF 2.1 75 -25 8.3 -13.8
AADR WCM/BNY Mellon Focused Growth ADR ETF 2.0 110 -60 3.6 -18.5
YLCO Global X YieldCo Index ETF 2.0 65 -15 4.7 -17.4
EEMA iShares MSCI Emerging Markets Asia ETF 1.9 50 0 9.0 -13.1
CHIQ Global X China Consumer ETF 1.9 65 -15 10.1 -11.9
KALL KraneShares FTSE Emerging Markets Plus ETF 1.9 49 1 9.6 -12.5

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

  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:
AAM S&P Emerging Markets High Dividend Value ETF
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 10.8 %
Divided by: Fwd. P/BV 0.5 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 22.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.45
 
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.