ProShares MSCI Emerging Markets Dividend Growers ETF
ALTAR
Score™
8.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.8x P/Sales
ratio
1.0x
P/BV
ratio
1.8x Div.
yield
2.7%


  • 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) $23
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) $28,601
Large cap (>$10bn) 51.2%
Mid cap ($2-10bn) 43.8%
Small cap (<$2bn) 5.0%
Developed mkts 11.3%
Emerging mkts 88.7%

TOP TEN HOLDINGS
CHINA INTERNATIONAL TRAVEL-A 2.1 %
BIM BIRLESIK MAGAZALAR AS 2.1 %
MARICO LTD 1.8 %
YUNNAN BAIYAO GROUP CO LTD-A 1.8 %
CHINA RESOURCES GAS GROUP LT 1.8 %
SK C&C CO LTD 1.7 %
TENCENT HOLDINGS LTD 1.7 %
OTTOGI CORPORATION 1.7 %
AYALA CORPORATION 1.7 %
UNILEVER INDONESIA TBK PT 1.6 %
Total 18.0 %

TOP COUNTRY EXPOSURE
CHINA 21.1 %
INDIA 20.5 %
SOUTH AFRICA 12.3 %
HONG KONG 9.4 %
MEXICO 5.3 %
PHILIPPINES 5.2 %
INDONESIA 5.1 %
SOUTH KOREA 3.4 %
MALAYSIA 2.9 %
RUSSIA 2.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-23.4% -17.0% -- -- 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.84 58%
MSCI EAFE 1.02 74%
MSCI Emg. Mkts. 0.89 86%

Technical Indicators
Recent close $48.17
30d moving avg. $44.43
Annualized volatility 18.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 6
Turnover 1.2%
Bid/Ask (% of price) 0.53%
ADV underlying (mns) $3,215

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 8.6%


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
(%)
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 14.8 30 30 9.5 +0.9
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 14.0 49 11 8.4 -0.2
JHEM John Hancock Multifactor Emerging Markets ETF 13.7 55 5 8.9 +0.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 13.6 20 40 7.7 -0.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 13.4 32 28 9.6 +1.0
ESGE iShares ESG MSCI EM ETF 13.2 25 35 9.8 +1.2
SCHE Schwab Emerging Markets Equity ETF 12.8 13 47 8.7 +0.1
VIGI Vanguard International Dividend Appreciation ETF 12.8 25 35 6.0 -2.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 12.7 45 15 9.0 +0.5
EMCG WisdomTree Emerging Markets Consumer Growth Fund 12.7 32 28 7.9 -0.7
RNEM Emerging Markets Equity Select ETF 12.6 75 -15 10.6 +2.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 12.3 30 30 8.9 +0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 12.2 32 28 6.9 -1.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 11.9 40 20 7.9 -0.7
INDA iShares MSCI India ETF 11.9 69 -9 6.0 -2.6
DVEM WisdomTree Emerging Markets Dividend Fund 11.8 32 28 9.2 +0.6
FLIN Franklin FTSE India ETF 11.6 19 41 6.4 -2.2
EZA iShares MSCI South Africa ETF 11.6 59 1 9.9 +1.4
BKF iShares MSCI BRIC ETF 11.6 69 -9 8.5 -0.1
FLZA Franklin FTSE South Africa ETF 11.5 19 41 12.0 +3.4
EEM iShares MSCI Emerging Markets ETF 11.4 68 -8 8.3 -0.2
VWO Vanguard FTSE Emerging Markets ETF 11.4 10 50 8.9 +0.3
EEMA iShares MSCI Emerging Markets Asia ETF 11.4 50 10 8.5 -0.1
PIN Invesco India ETF 11.4 82 -22 6.4 -2.2
SPEM SPDR Portfolio Emerging Markets ETF 11.3 11 49 8.7 +0.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 11.1 45 15 8.8 +0.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 11.1 25 35 8.5 -0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 10.9 65 -5 8.4 -0.2
PXH Invesco FTSE RAFI Emerging Markets ETF 10.9 50 10 13.8 +5.2
EMFM Global X MSCI Next Emerging & Frontier ETF 10.7 55 5 8.8 +0.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 10.6 45 15 9.8 +1.3
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 10.4 58 2 5.6 -3.0
IEMG iShares Core MSCI Emerging Markets ETF 10.4 14 46 8.8 +0.2
FXI iShares China Large-Cap ETF 10.3 74 -14 13.6 +5.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 10.1 95 -35 10.2 +1.7
GMF SPDR S&P Emerging Asia Pacific ETF 10.1 49 11 8.0 -0.6
EDIV SPDR S&P Emerging Markets Dividend ETF 9.7 49 11 11.6 +3.1
EMMF WisdomTree Emerging Markets Multifactor Fund 9.6 48 12 9.9 +1.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 9.6 68 -8 8.0 -0.6
PBEE Invesco PureBeta FTSE Emerging Markets ETF 9.5 14 46 9.6 +1.0
EPI WisdomTree India Earnings Fund 9.5 85 -25 9.8 +1.3
FLAX Franklin FTSE Asia Ex Japan ETF 9.5 19 41 8.6 -0.0
NFTY First Trust India NIFTY 50 Equal Weight ETF 9.2 80 -20 8.7 +0.1
INDY iShares India 50 ETF 9.2 94 -34 6.3 -2.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 9.2 49 11 9.1 +0.5
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 9.0 64 -4 5.3 -3.3
PIE Invesco DWA Emerging Markets Momentum ETF 8.8 90 -30 5.7 -2.9
NUEM Nuveen ESG Emerging Markets Equity ETF 8.6 45 15 7.9 -0.7
ISEM Invesco Strategic Emerging Markets ETF 8.5 35 25 10.4 +1.8
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 8.2 50 10 9.9 +1.4
CHIR Global X MSCI China Real Estate ETF 7.7 65 -5 17.2 +8.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 7.6 39 21 13.2 +4.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 7.6 59 1 11.2 +2.6
ASEA Global X Southeast Asia ETF 7.5 65 -5 10.3 +1.7
KALL KraneShares FTSE Emerging Markets Plus ETF 7.4 49 11 9.1 +0.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 7.3 29 31 9.9 +1.4
AVEM Avantis Emerging Markets Equity ETF 7.0 33 27 9.6 +1.1
AFK VanEck Vectors Africa Index ETF 7.0 78 -18 3.1 -5.5
EEMO Invesco S&P Emerging Markets Momentum ETF 6.9 30 30 7.3 -1.3
MCHI iShares MSCI China ETF 6.7 59 1 9.1 +0.5
CHIL Global X MSCI China Large-Cap 50 ETF 6.6 29 31 9.6 +1.0
FRDM Freedom 100 Emerging Markets ETF 6.6 49 11 7.5 -1.1
FLCH Franklin FTSE China ETF 6.6 19 41 9.3 +0.7
EMXC iShares MSCI Emerging Markets ex China ETF 6.3 49 11 8.5 -0.1
ROAM Hartford Multifactor Emerging Markets ETF 6.3 44 16 15.1 +6.5
WCHN WisdomTree ICBCCS S&P China 500 Fund 6.2 55 5 9.2 +0.6
GXC SPDR S&P China ETF 6.2 59 1 9.0 +0.4
AXJL WisdomTree Asia Pacific ex-Japan Fund 6.0 48 12 10.0 +1.4
ECON Columbia Emerging Markets Consumer ETF 5.6 59 1 4.9 -3.6
EDOG ALPS Emerging Sector Dividend Dogs ETF 5.5 60 0 10.6 +2.0
BICK First Trust BICK Index Fund 5.5 64 -4 4.5 -4.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 5.4 16 44 7.2 -1.4
OBOR KraneShares MSCI One Belt One Road Index ETF 5.4 79 -19 9.6 +1.1
CN Xtrackers MSCI All China Equity ETF 5.3 50 10 9.4 +0.8
FLMX Franklin FTSE Mexico ETF 5.3 19 41 10.0 +1.4
EWW iShares MSCI Mexico Capped ETF 5.3 49 11 9.4 +0.8
XCEM Columbia EM Core ex-China ETF 5.2 16 44 7.9 -0.7
EPHE iShares MSCI Philippines ETF 5.2 59 1 8.8 +0.2
EIDO iShares MSCI Indonesia ETF 5.1 59 1 10.6 +2.0
IDX VanEck Vectors Indonesia Index ETF 5.1 57 3 9.4 +0.8
DNL WisdomTree Global ex-US Dividend Growth Fund 5.0 58 2 8.0 -0.6
CHIU Global X MSCI China Utilities ETF 5.0 65 -5 9.2 +0.6
EMIF iShares Emerging Markets Infrastructure ETF 5.0 75 -15 7.9 -0.7
PACA Xtrackers MSCI Latin America Pacific Alliance ETF 4.8 45 15 8.5 -0.1
CWI SPDR MSCI ACWI ex-US ETF 4.6 30 30 7.8 -0.8
KURE KraneShares MSCI All China Health Care Index ETF 4.4 65 -5 3.3 -5.3
IGRO iShares International Dividend Growth ETF 4.4 22 38 8.2 -0.4
VNQI Vanguard Global ex-US Real Estate Index Fund 4.4 12 48 10.1 +1.5
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 4.3 10 50 9.2 +0.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 4.2 32 28 7.0 -1.6
DRW WisdomTree Global ex-US Real Estate Fund 4.2 58 2 10.8 +2.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 4.2 40 20 7.5 -1.1
VSGX Vanguard ESG International Stock ETF 4.1 17 43 7.5 -1.1
CHIH Global X MSCI China Health Care ETF 4.1 65 -5 3.9 -4.7
VEU Vanguard FTSE All-World ex-US Index Fund 4.0 8 52 7.9 -0.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 3.9 45 15 13.5 +4.9
AIA iShares Asia 50 ETF 3.7 50 10 9.1 +0.5
IXUS ishares Core MSCI Total International Stock ETF 3.7 9 51 7.7 -0.9
LEGR First Trust Index Digital Transaction & Process Technology E 3.7 65 -5 7.3 -1.3
BLCN Reality Shares Nasdaq NextGen Economy ETF 3.7 68 -8 4.4 -4.1

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 15.4 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 8.6 %
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.