AAM S&P Emerging Markets High Dividend Value
ALTAR
Score™
12.1% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
8.3x P/Sales
ratio
0.6x
P/BV
ratio
1.2x Div.
yield
6.1%


  • 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) $7,085
Large cap (>$10bn) 15.8%
Mid cap ($2-10bn) 63.8%
Small cap (<$2bn) 20.4%
Developed mkts 10.8%
Emerging mkts 89.2%

TOP TEN HOLDINGS
YAGEO CORPORATION 2.6 %
TOFAS TURK OTOMOBIL FABRIKA 2.2 %
CHINA RESOURCES CEMENT 2.1 %
MOBILE TELESYSTEMS PJSC SPONSORED 2.1 %
GREAT WALL MOTOR COMPANY-H 2.1 %
HYPERMARCAS SA 2.0 %
BASHNEFT OJSC PREF. 2.0 %
ADARO ENERGY PT 2.0 %
UNITED MICROELECTRONICS CORP 2.0 %
OOREDOO Q.P.S.C 2.0 %
Total 21.0 %

TOP COUNTRY EXPOSURE
CHINA 19.7 %
TAIWAN 13.1 %
RUSSIA 9.1 %
TURKEY 7.3 %
SOUTH AFRICA 7.2 %
BRAZIL 7.0 %
INDONESIA 6.9 %
HONG KONG 3.9 %
QATAR 3.9 %
THAILAND 3.8 %

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.
3.0% 1.7% -- -- -3.8%

Market Correlations
versus... Beta R-squared
S&P500 0.73 45%
MSCI EAFE 0.95 60%
MSCI Emg. Mkts. 0.89 81%

Technical Indicators
Recent close $21.51
30d moving avg. $21.38
Annualized volatility 16.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $407

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the AAM S&P Emerging Markets High Dividend Value 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™: 12.1%


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 20.0 70 -20 11.1 -1.0
SDEM Global X SuperDividend Emg Mkts 12.1 67 -17 18.6 +6.5
CEY VictoryShares Emg. Mkt. High Dividend Volatility Wtd. 11.4 50 0 13.4 +1.3
DVYE iShares Emerging Markets Dividend 10.4 49 1 13.9 +1.8
FEM First Trust Emerging Markets AlphaDEX 9.7 80 -30 11.0 -1.1
EDOG ALPS Emerging Sector Dividend Dogs 9.4 60 -10 9.3 -2.8
FCA First Trust China AlphaDEX 9.4 80 -30 12.5 +0.5
RSX VanEck Vectors Russia ETF 8.2 65 -15 12.5 +0.4
EDIV SPDR S&P Emerging Markets Dividend 7.6 49 1 10.8 -1.3
IQDE FlexShares Int'l Quality Dividend Defensive 7.3 47 3 9.7 -2.4
IQDF FlexShares Int'l Quality Dividend 7.2 47 3 9.5 -2.6
REDV Invesco Emerging Markets Ultra Dividend Revenue ETF 7.2 46 4 18.2 +6.2
KOL VanEck Vectors Coal ETF 6.9 60 -10 10.9 -1.2
DGRE WisdomTree Emg Mkt Dividend Growth 6.2 32 18 9.1 -2.9
FXI iShares China Large-Cap 5.9 74 -24 14.1 +2.0
EMGF iShares Edge MSCI Multifactor Emerging Markets 5.8 45 5 10.1 -1.9
FBZ First Trust Brazil AlphaDEX 5.5 80 -30 7.9 -4.2
IQDY FlexShares Int'l Quality Dividend Dynamic 5.5 47 3 9.0 -3.1
EMMF WisdomTree Emerging Markets Multifactor Fund 5.5 48 2 10.1 -2.0
DEM WisdomTree Emerg Mkts High Yield Equity 5.4 63 -13 12.5 +0.4

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:
AAM S&P Emerging Markets High Dividend Value
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 13.5 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 12.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.49
 
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.