ProShares MSCI Emerging Markets Dividend Growers ETF
ALTAR
Score™
8.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.8x P/Sales
ratio
1.1x
P/BV
ratio
1.8x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The MSCI Emerging Markets Dividend Growers ETF tracks an index composed of companies that are current members of the MSCI Emerging Markets Index and have increased dividends every year for at least 7 years.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Jan 25, 2016
Assets (mns) $25
Currency USD
Expense ratio 60 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 71
Wgt avg mkt cap (mns) $34,574
Large cap (>$10bn) 53.1%
Mid cap ($2-10bn) 38.9%
Small cap (<$2bn) 5.2%
Developed mkts 9.1%
Emerging mkts 90.9%

TOP TEN HOLDINGS
CHINA INTERNATIONAL TRAVEL-A 3.2 %
BAJAJ FINANCE LIMITED 2.2 %
RELIANCE INDUSTRIES LTD 1.9 %
INFOSYS TECHNOLOGIES-SP ADR 1.8 %
SHANGHAI PHARMACEUTICALS HOLDING C 1.8 %
HAIER ELECTRONICS GROUP CO 1.7 %
ALFA S.A.B.-A 1.7 %
BANK CENTRAL ASIA PT 1.7 %
BANK RAKYAT INDONESIA 1.7 %
HANGZHOU HIKVISION DIGITAL-A 1.6 %
Total 19.2 %

TOP COUNTRY EXPOSURE
CHINA 23.9 %
INDIA 23.4 %
SOUTH AFRICA 11.4 %
MEXICO 7.3 %
HONG KONG 7.3 %
INDONESIA 5.9 %
PHILIPPINES 5.5 %
SOUTH KOREA 2.8 %
MALAYSIA 2.7 %
RUSSIA 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-16.1% -11.0% -- -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.84 58%
MSCI EAFE 1.03 74%
MSCI Emg. Mkts. 0.86 85%

Technical Indicators
Recent close $50.88
30d moving avg. $50.29
Annualized volatility 18.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.4%
Bid/Ask (% of price) 0.50%
ADV underlying (mns) $4,456

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the ProShares MSCI Emerging Markets Dividend Growers ETF ETF based on the alternatives' overlap in portfolio holdings with EMDV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EMDV Expense: 60 bp ALTAR Score™: 8.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EMDV
Ticker Fund
Name
Overlap1
vs EMDV
(%)
Expense
ratio
(bp)
Savings
vs EMDV
(bp)
ALTAR
Score™
(%)
ALTAR
vs EMDV
(%)
VIGI Vanguard International Dividend Appreciation ETF 16.0 25 35 5.5 -3.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 14.5 30 30 8.6 +0.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 13.9 49 11 7.6 -0.9
INDA iShares MSCI India ETF 13.0 69 -9 4.9 -3.6
JHEM John Hancock Multifactor Emerging Markets ETF 12.9 49 11 8.3 -0.2
FLIN Franklin FTSE India ETF 12.7 19 41 5.3 -3.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 12.6 32 28 8.9 +0.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 12.5 20 40 6.7 -1.8
EMFM Global X MSCI Next Emerging & Frontier ETF 12.3 66 -6 9.0 +0.6
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 12.2 58 2 4.6 -3.8
SCHE Schwab Emerging Markets Equity ETF 11.9 11 49 7.9 -0.6
PIN Invesco India ETF 11.8 78 -18 5.4 -3.1
RNEM Emerging Markets Equity Select ETF 11.8 75 -15 11.4 +2.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.8 44 16 8.9 +0.4
ESGE iShares ESG MSCI EM ETF 11.7 25 35 8.5 0.0
NFTY First Trust India NIFTY 50 Equal Weight ETF 11.3 80 -20 7.3 -1.2
INDY iShares India 50 ETF 11.2 94 -34 5.3 -3.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 11.2 32 28 6.1 -2.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 11.0 40 20 7.2 -1.3
EZA iShares MSCI South Africa ETF 10.9 59 1 7.6 -0.9
PXH Invesco FTSE RAFI Emerging Markets ETF 10.8 50 10 13.2 +4.7
EEMA iShares MSCI Emerging Markets Asia ETF 10.7 50 10 7.4 -1.1
SPEM SPDR Portfolio Emerging Markets ETF 10.7 11 49 7.8 -0.7
EEM iShares MSCI Emerging Markets ETF 10.6 68 -8 7.3 -1.2
VWO Vanguard FTSE Emerging Markets ETF 10.6 10 50 8.0 -0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 10.6 30 30 7.7 -0.8
BKF iShares MSCI BRIC ETF 10.6 69 -9 7.4 -1.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 10.4 45 15 7.8 -0.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 10.4 25 35 7.7 -0.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 10.4 36 24 8.0 -0.5
FLZA Franklin FTSE South Africa ETF 10.1 19 41 11.4 +2.9
DVEM WisdomTree Emerging Markets Dividend Fund 9.8 32 28 8.1 -0.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 9.7 65 -5 7.3 -1.1
EDIV SPDR S&P Emerging Markets Dividend ETF 9.7 49 11 11.3 +2.8
EPI WisdomTree India Earnings Fund 9.7 85 -25 8.1 -0.4
IEMG iShares Core MSCI Emerging Markets ETF 9.6 13 47 7.8 -0.7
GMF SPDR S&P Emerging Asia Pacific ETF 9.5 49 11 7.2 -1.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 9.3 45 15 9.3 +0.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 9.1 68 -8 7.0 -1.5
FXI iShares China Large-Cap ETF 9.1 74 -14 13.0 +4.5
FLAX Franklin FTSE Asia Ex Japan ETF 9.0 19 41 7.6 -0.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.0 39 21 12.6 +4.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 8.8 49 11 7.6 -0.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 8.7 15 45 8.6 +0.1
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 8.6 64 -4 4.6 -3.9
ASEA Global X Southeast Asia ETF 8.4 65 -5 10.2 +1.7
NUEM Nuveen ESG Emerging Markets Equity ETF 8.4 45 15 7.0 -1.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 7.7 95 -35 9.2 +0.7
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 7.4 50 10 10.3 +1.9
BKEM BNY Mellon Emerging Markets Equity ETF 7.4 11 49 8.4 -0.1
FLMX Franklin FTSE Mexico ETF 7.3 19 41 9.6 +1.1
EWW iShares MSCI Mexico Capped ETF 7.2 49 11 8.6 +0.1
EMMF WisdomTree Emerging Markets Multifactor Fund 7.2 48 12 9.3 +0.8
ISEM Invesco Strategic Emerging Markets ETF 7.1 35 25 10.2 +1.7
KALL KraneShares FTSE Emerging Markets Plus ETF 7.0 49 11 8.1 -0.4
CHIR Global X MSCI China Real Estate ETF 6.9 65 -5 16.9 +8.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.8 59 1 10.8 +2.3
XCEM Columbia EM Core ex-China ETF 6.5 16 44 7.0 -1.4
PIE Invesco DWA Emerging Markets Momentum ETF 6.5 90 -30 4.6 -3.9
AVEM Avantis Emerging Markets Equity ETF 6.5 33 27 8.7 +0.2
EEMO Invesco S&P Emerging Markets Momentum ETF 6.5 29 31 6.4 -2.1
CHIL Global X MSCI China Large-Cap 50 ETF 6.3 29 31 8.3 -0.2
FRDM Freedom 100 Emerging Markets ETF 6.1 49 11 6.5 -2.0
ROAM Hartford Multifactor Emerging Markets ETF 6.0 44 16 14.4 +5.9
EDOG ALPS Emerging Sector Dividend Dogs ETF 5.9 60 0 10.3 +1.9
FLCH Franklin FTSE China ETF 5.9 19 41 8.3 -0.2
EIDO iShares MSCI Indonesia ETF 5.9 59 1 9.9 +1.5
IDX VanEck Vectors Indonesia Index ETF 5.9 57 3 8.8 +0.3
MCHI iShares MSCI China ETF 5.8 59 1 7.8 -0.7
AFK VanEck Vectors Africa Index ETF 5.6 79 -19 8.5 +0.0
GXC SPDR S&P China ETF 5.5 59 1 8.0 -0.5
EPHE iShares MSCI Philippines ETF 5.5 59 1 8.6 +0.1
EELV Invesco S&P Emerging Markets Low Volatility ETF 5.4 29 31 9.8 +1.4
EMXC iShares MSCI Emerging Markets ex China ETF 5.4 25 35 7.9 -0.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 5.3 16 44 6.8 -1.7
ECON Columbia Emerging Markets Consumer ETF 5.2 59 1 4.5 -4.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 4.9 58 2 7.7 -0.8
IGRO iShares International Dividend Growth ETF 4.6 22 38 7.8 -0.7
BICK First Trust BICK Index Fund 4.6 64 -4 4.3 -4.1
CN Xtrackers MSCI All China Equity ETF 4.5 50 10 8.1 -0.4
OBOR KraneShares MSCI One Belt One Road Index ETF 4.4 79 -19 8.8 +0.4
CWI SPDR MSCI ACWI ex-US ETF 4.3 30 30 7.1 -1.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 4.3 40 20 6.9 -1.6
ILF iShares Latin America 40 ETF 4.3 48 12 6.8 -1.7
AFTY Pacer CSOP FTSE China A50 ETF 4.3 70 -10 9.6 +1.1
VNQI Vanguard Global ex-US Real Estate Index Fund 4.1 12 48 10.1 +1.6
LEGR First Trust Index Digital Transaction & Process Technology E 4.1 65 -5 6.9 -1.6
VEU Vanguard FTSE All-World ex-US Index Fund 4.1 8 52 7.4 -1.1
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 4.1 10 50 9.2 +0.7
DRW WisdomTree Global ex-US Real Estate Fund 4.0 58 2 10.6 +2.1
KURE KraneShares MSCI All China Health Care Index ETF 4.0 65 -5 2.7 -5.7
CHIH Global X MSCI China Health Care ETF 4.0 66 -6 3.5 -5.0
IXUS ishares Core MSCI Total International Stock ETF 3.9 9 51 7.3 -1.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 3.9 32 28 6.1 -2.4
VXUS Vanguard Total International Stock Index Fund 3.8 8 52 7.4 -1.1
VSGX Vanguard ESG International Stock ETF 3.8 17 43 7.0 -1.5
SDEM Global X SuperDividend Emerging Markets ETF 3.8 66 -6 15.9 +7.5
WWJD Inspire International ESG ETF 3.6 80 -20 7.3 -1.2

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

  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:
ProShares MSCI Emerging Markets Dividend Growers ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.1 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.