ProShares MSCI Emerging Markets Dividend Growers ETF
ALTAR
Score™
9.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.0x P/Sales
ratio
1.0x
P/BV
ratio
1.7x Div.
yield
2.6%


  • 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) $20
Currency USD
Expense ratio 61 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 62
Wgt avg mkt cap (mns) $56,620
Large cap (>$10bn) 58.6%
Mid cap ($2-10bn) 34.5%
Small cap (<$2bn) 3.3%
Developed mkts 16.5%
Emerging mkts 83.5%

TOP TEN HOLDINGS
NESTLE SA-REG 5.7 %
TATA CONSULTANCY SVS LTD 2.0 %
LEYARD OPTOELECTRONIC CO., LTD. CL 2.0 %
INFOSYS TECHNOLOGIES-SP ADR 2.0 %
JOLLIBEE FOODS CORPORATION 2.0 %
ASIAN PAINTS LTD 1.9 %
BERGER PAINTS INDIA LIMITED 1.8 %
HOUSING DEVELOPMENT FINANCE 1.8 %
TENCENT HOLDINGS LTD 1.8 %
NASPERS LTD-N SHS 1.8 %
Total 22.8 %

TOP COUNTRY EXPOSURE
CHINA 25.8 %
INDIA 22.4 %
HONG KONG 9.4 %
SOUTH AFRICA 8.2 %
PHILIPPINES 6.9 %
INDONESIA 6.2 %
SWITZERLAND 5.7 %
MEXICO 3.3 %
SOUTH KOREA 3.1 %
RUSSIA 1.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.4% -8.3% -- -- 7.2%

Market Correlations
versus... Beta R-squared
S&P500 0.81 57%
MSCI EAFE 1.01 74%
MSCI Emg. Mkts. 0.86 85%

Technical Indicators
Recent close $50.58
30d moving avg. $49.98
Annualized volatility 18.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.7%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $4,092

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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: 61 bp ALTAR Score™: 9.0%


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 21.4 20 41 5.5 -3.5
PIN Invesco India ETF 14.4 78 -17 5.9 -3.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 14.3 49 12 7.7 -1.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 14.0 30 31 8.7 -0.3
INDA iShares MSCI India ETF 13.8 69 -8 5.2 -3.8
NFTY First Trust India NIFTY 50 Equal Weight ETF 13.5 80 -19 8.0 -0.9
INDY iShares India 50 ETF 13.5 93 -32 5.3 -3.7
FLIN Franklin FTSE India ETF 13.3 19 42 5.6 -3.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 12.6 20 41 6.7 -2.3
RNEM Emerging Markets Equity Select ETF 12.4 75 -14 11.8 +2.8
JHEM John Hancock Multifactor Emerging Markets ETF 12.3 49 12 8.7 -0.3
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 11.8 58 3 4.8 -4.2
EPI WisdomTree India Earnings Fund 11.7 84 -23 8.5 -0.5
SCHE Schwab Emerging Markets Equity ETF 11.5 11 50 7.8 -1.1
ESGE iShares ESG MSCI EM ETF 11.3 25 36 8.5 -0.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.2 44 17 9.1 +0.1
PXH Invesco FTSE RAFI Emerging Markets ETF 11.1 50 11 13.3 +4.3
EEMA iShares MSCI Emerging Markets Asia ETF 11.0 50 11 7.6 -1.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 11.0 32 29 8.9 -0.1
BKF iShares MSCI BRIC ETF 10.9 69 -8 7.3 -1.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 10.9 32 29 5.6 -3.4
NUEM Nuveen ESG Emerging Markets Equity ETF 10.8 45 16 6.7 -2.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 10.5 30 31 7.6 -1.4
EEM iShares MSCI Emerging Markets ETF 10.4 68 -7 7.3 -1.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 10.4 36 25 7.2 -1.8
VWO Vanguard FTSE Emerging Markets ETF 10.3 10 51 7.9 -1.1
SPEM SPDR Portfolio Emerging Markets ETF 10.2 11 50 7.7 -1.3
EDIV SPDR S&P Emerging Markets Dividend ETF 10.0 49 12 12.1 +3.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 10.0 45 16 7.5 -1.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 9.8 40 21 7.2 -1.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 9.8 25 36 7.9 -1.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 9.7 65 -4 7.4 -1.6
IEMG iShares Core MSCI Emerging Markets ETF 9.5 13 48 7.8 -1.2
GMF SPDR S&P Emerging Asia Pacific ETF 9.5 49 12 7.0 -2.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 9.3 95 -34 8.0 -1.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 9.2 68 -7 7.0 -2.0
FLAX Franklin FTSE Asia Ex Japan ETF 9.1 19 42 7.6 -1.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.0 39 22 13.4 +4.4
FXI iShares China Large-Cap ETF 9.0 74 -13 13.1 +4.1
EMFM Global X MSCI Next Emerging & Frontier ETF 9.0 66 -5 9.0 +0.0
FDEM Fidelity Targeted Emerging Markets Factor ETF 8.9 45 16 8.5 -0.5
ASEA Global X Southeast Asia ETF 8.7 65 -4 11.0 +2.0
IGRO iShares International Dividend Growth ETF 8.2 22 39 8.4 -0.6
DVEM WisdomTree Emerging Markets Dividend Fund 8.1 32 29 7.2 -1.8
CHIR Global X MSCI China Real Estate ETF 8.1 65 -4 19.6 +10.6
PBEE Invesco PureBeta FTSE Emerging Markets ETF 8.0 15 46 8.3 -0.6
EZA iShares MSCI South Africa ETF 7.7 59 2 7.8 -1.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 7.7 49 12 7.9 -1.1
CHIL Global X MSCI China Large-Cap 50 ETF 7.5 29 32 7.4 -1.6
BKEM BNY Mellon Emerging Markets Equity ETF 7.5 11 50 8.2 -0.8
AVEM Avantis Emerging Markets Equity ETF 7.3 33 28 8.7 -0.2
FLZA Franklin FTSE South Africa ETF 7.3 19 42 11.2 +2.2
KALL KraneShares FTSE Emerging Markets Plus ETF 7.2 49 12 7.8 -1.1
XCEM Columbia EM Core ex-China ETF 7.1 16 45 7.1 -1.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 7.1 59 2 11.0 +2.0
ISEM Invesco Strategic Emerging Markets ETF 7.0 35 26 10.8 +1.8
EPHE iShares MSCI Philippines ETF 6.9 59 2 8.2 -0.8
EMMF WisdomTree Emerging Markets Multifactor Fund 6.6 48 13 9.5 +0.6
CWI SPDR MSCI ACWI ex-US ETF 6.3 30 31 7.2 -1.8
VSGX Vanguard ESG International Stock ETF 6.3 17 44 7.0 -2.0
FLCH Franklin FTSE China ETF 6.2 19 42 8.1 -0.9
MCHI iShares MSCI China ETF 6.2 59 2 7.6 -1.4
EIDO iShares MSCI Indonesia ETF 6.2 59 2 9.9 +0.9
IDX VanEck Vectors Indonesia Index ETF 6.2 57 4 8.8 -0.2
ROAM Hartford Multifactor Emerging Markets ETF 6.1 44 17 13.0 +4.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 6.1 40 21 7.1 -1.9
BICK First Trust BICK Index Fund 6.0 64 -3 4.7 -4.3
KOIN Innovation Shares NextGen Protocol ETF 6.0 95 -34 4.4 -4.6
GXC SPDR S&P China ETF 5.8 59 2 7.6 -1.4
FRDM Freedom 100 Emerging Markets ETF 5.8 49 12 6.5 -2.5
FLSW Franklin FTSE Switzerland ETF 5.7 9 52 5.6 -3.4
KXI iShares Global Consumer Staples ETF 5.7 46 15 5.3 -3.7
EWL iShares MSCI Switzerland ETF 5.7 50 11 5.1 -3.9
VEU Vanguard FTSE All-World ex-US Index Fund 5.7 8 53 7.5 -1.5
ECON Columbia Emerging Markets Consumer ETF 5.6 59 2 4.9 -4.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 5.5 16 45 6.9 -2.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 5.4 47 14 9.1 +0.1
IXUS ishares Core MSCI Total International Stock ETF 5.3 9 52 7.3 -1.7
CXSE WisdomTree China ex-State-Owned Enterprises Fund 5.3 32 29 11.3 +2.3
EMXC iShares MSCI Emerging Markets ex China ETF 5.1 25 36 8.1 -0.9
EDOG ALPS Emerging Sector Dividend Dogs ETF 5.1 60 1 10.6 +1.7
JOYY Infusive Compounding Global Equities ETF 5.1 50 11 3.6 -5.4
OBOR KraneShares MSCI One Belt One Road Index ETF 5.1 79 -18 8.8 -0.2
OEUR O'shares FTSE Europe Quality Dividend ETF 5.1 48 13 6.9 -2.1
IDHQ Invesco S&P International Developed Quality ETF 5.1 29 32 5.1 -3.9
ACWX iShares MSCI ACWI ex U.S. ETF 5.0 32 29 7.2 -1.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.0 58 3 7.8 -1.2
SDGA Impact Shares Sustainable Development Goals Global ETF 5.0 75 -14 5.3 -3.7
SDEM Global X SuperDividend Emerging Markets ETF 5.0 66 -5 18.5 +9.5
PIE Invesco DWA Emerging Markets Momentum ETF 4.9 90 -29 4.9 -4.1
EFG iShares MSCI EAFE Growth ETF 4.9 40 21 4.5 -4.5
CN Xtrackers MSCI All China Equity ETF 4.9 50 11 7.9 -1.1
AFK VanEck Vectors Africa Index ETF 4.8 79 -18 8.3 -0.7
VXUS Vanguard Total International Stock Index Fund 4.8 8 53 7.5 -1.5
ILF iShares Latin America 40 ETF 4.8 48 13 6.3 -2.7
EMIF iShares Emerging Markets Infrastructure ETF 4.8 60 1 10.2 +1.3
CHIU Global X MSCI China Utilities ETF 4.8 66 -5 10.2 +1.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 4.7 32 29 6.1 -2.9
RFEU First Trust Riverfront Dynamic Europe ETF 4.5 83 -22 5.8 -3.2

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 14.8 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 61 bp
Equals: ALTAR Score 9.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.43
 
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.