Global X MSCI Next Emerging & Frontier ETF
ALTAR
Score™
10.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.5x P/Sales
ratio
1.5x
P/BV
ratio
1.3x Div.
yield
4.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X MSCI Next Emerging & Frontier ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Select Emerging and Frontier Markets Access Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Nov 07, 2013
Assets (mns) $13
Currency USD
Expense ratio 55 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 197
Wgt avg mkt cap (mns) $11,812
Large cap (>$10bn) 40.5%
Mid cap ($2-10bn) 54.3%
Small cap (<$2bn) 4.9%
Developed mkts 1.4%
Emerging mkts 86.5%

TOP TEN HOLDINGS
MOBILE TELECOMMUNICATIONS CO. KSC 2.3 %
TENAGA NASIONAL BHD 2.1 %
NASPERS LTD-N SHS 2.1 %
NATIONAL BANK OF KUWAIT 2.1 %
VINGROUP JSC 2.0 %
WALMART DE MEXICO-SER V 2.0 %
SAFARICOM PLC 1.9 %
MAROC TELECOM SA 1.9 %
PT TELEKOMUNIKASI INDONESIA, TBK C 1.8 %
SAUDI TELECOM CO. 1.8 %
Total 20.0 %

TOP COUNTRY EXPOSURE
THAILAND 9.7 %
SAUDI ARABIA 9.5 %
INDONESIA 8.9 %
KUWAIT 8.2 %
MALAYSIA 8.1 %
MEXICO 6.4 %
VIETNAM 6.1 %
SOUTH AFRICA 5.5 %
PHILIPPINES 4.6 %
QATAR 4.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.3% -11.5% -2.8% -- -2.8%

Market Correlations
versus... Beta R-squared
S&P500 0.59 34%
MSCI EAFE 0.85 62%
MSCI Emg. Mkts. 0.78 75%

Technical Indicators
Recent close $14.23
30d moving avg. $16.53
Annualized volatility 13.4%
Short interest (ETF) 0.2%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.4%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $2,598

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Global X MSCI Next Emerging & Frontier ETF ETF based on the alternatives' overlap in portfolio holdings with EMFM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EMFM Expense: 55 bp ALTAR Score™: 10.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EMFM
Ticker Fund
Name
Overlap1
vs EMFM
(%)
Expense
ratio
(bp)
Savings
vs EMFM
(bp)
ALTAR
Score™
(%)
ALTAR
vs EMFM
(%)
GULF WisdomTree Middle East Dividend Fund 25.0 88 -33 10.6 +0.2
FM iShares MSCI Frontier 100 ETF 22.5 79 -24 12.0 +1.6
ASEA Global X Southeast Asia ETF 20.8 65 -10 11.8 +1.4
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 20.5 25 30 9.6 -0.8
EMXC iShares MSCI Emerging Markets ex China ETF 20.0 49 6 10.3 -0.1
EELV Invesco S&P Emerging Markets Low Volatility ETF 19.0 29 26 12.2 +1.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 18.2 45 10 10.5 +0.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 15.6 49 6 10.2 -0.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 13.8 30 25 10.7 +0.3
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 13.2 50 5 12.4 +2.0
SCHE Schwab Emerging Markets Equity ETF 13.0 13 42 10.0 -0.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 12.7 20 35 9.1 -1.3
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 11.9 51 4 13.8 +3.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 11.8 30 25 10.1 -0.3
ROAM Hartford Multifactor Emerging Markets ETF 11.5 44 11 17.6 +7.2
EEM iShares MSCI Emerging Markets ETF 11.5 68 -13 9.8 -0.6
EMCG WisdomTree Emerging Markets Consumer Growth Fund 11.4 32 23 9.1 -1.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 11.3 14 41 11.1 +0.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.1 60 -5 10.2 -0.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 11.0 65 -10 9.9 -0.5
ESGE iShares ESG MSCI EM ETF 10.9 25 30 11.3 +0.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 10.6 39 16 14.9 +4.5
RNEM Emerging Markets Equity Select ETF 10.5 75 -20 11.3 +1.0
AFK VanEck Vectors Africa Index ETF 10.5 78 -23 4.3 -6.1
IEMG iShares Core MSCI Emerging Markets ETF 10.4 14 41 10.3 -0.1
FRDM Freedom 100 Emerging Markets ETF 10.4 49 6 9.1 -1.3
VWO Vanguard FTSE Emerging Markets ETF 9.9 10 45 10.2 -0.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 9.8 32 23 11.4 +1.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 9.7 45 10 10.1 -0.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 9.7 40 15 8.7 -1.7
THD iShares MSCI Thailand ETF 9.6 59 -4 12.5 +2.1
JHEM John Hancock Multifactor Emerging Markets ETF 9.6 55 0 10.6 +0.2
SPEM SPDR Portfolio Emerging Markets ETF 9.6 11 44 10.1 -0.3
KSA iShares MSCI Saudi Arabia Capped ETF 9.5 74 -19 7.3 -3.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 9.4 32 23 8.3 -2.1
FLSA Franklin FTSE Saudi Arabia ETF 9.1 39 16 7.5 -2.9
XCEM Columbia EM Core ex-China ETF 9.1 16 39 9.8 -0.6
PACA Xtrackers MSCI Latin America Pacific Alliance ETF 8.9 45 10 10.4 -0.0
EEMO Invesco S&P Emerging Markets Momentum ETF 8.9 30 25 10.6 +0.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 8.7 45 10 11.4 +1.0
EIDO iShares MSCI Indonesia ETF 8.6 59 -4 12.7 +2.3
EDIV SPDR S&P Emerging Markets Dividend ETF 8.4 49 6 13.5 +3.1
PXH Invesco FTSE RAFI Emerging Markets ETF 8.2 50 5 15.7 +5.4
EWM iShares MSCI Malaysia ETF 8.1 49 6 7.1 -3.3
DVEM WisdomTree Emerging Markets Dividend Fund 8.1 32 23 10.7 +0.3
NUEM Nuveen ESG Emerging Markets Equity ETF 7.7 45 10 9.3 -1.1
FLLA Franklin FTSE Latin America ETF 7.5 19 36 9.2 -1.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 7.3 49 6 11.2 +0.8
IDX VanEck Vectors Indonesia Index ETF 7.1 57 -2 11.6 +1.2
ECON Columbia Emerging Markets Consumer ETF 7.0 59 -4 5.6 -4.8
FLMX Franklin FTSE Mexico ETF 6.4 19 36 12.2 +1.8
EWW iShares MSCI Mexico Capped ETF 6.4 49 6 11.5 +1.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.4 59 -4 12.7 +2.3
ILF iShares Latin America 40 ETF 6.3 48 7 9.6 -0.8
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 6.2 64 -9 6.7 -3.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 6.2 95 -40 12.0 +1.6
EEMA iShares MSCI Emerging Markets Asia ETF 6.2 50 5 9.8 -0.6
VNM VanEck Vectors Vietnam ETF 5.9 68 -13 5.2 -5.2
AVEM Avantis Emerging Markets Equity ETF 5.9 33 22 11.5 +1.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.8 70 -15 15.8 +5.4
EMMF WisdomTree Emerging Markets Multifactor Fund 5.8 48 7 11.6 +1.2
EZA iShares MSCI South Africa ETF 5.8 59 -4 12.7 +2.4
FLZA Franklin FTSE South Africa ETF 5.7 19 36 15.2 +4.9
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 5.7 51 4 20.4 +10.0
EDOG ALPS Emerging Sector Dividend Dogs ETF 5.6 60 -5 13.6 +3.2
PIE Invesco DWA Emerging Markets Momentum ETF 5.6 90 -35 6.5 -3.9
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 5.3 45 10 11.5 +1.1
FLAX Franklin FTSE Asia Ex Japan ETF 5.1 19 36 9.8 -0.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 5.0 20 35 12.8 +2.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 4.8 68 -13 9.1 -1.3
DEM WisdomTree Emerging Markets High Dividend Fund 4.8 63 -8 16.7 +6.3
FEM First Trust Emerging Markets AlphaDEX Fund 4.7 80 -25 14.4 +4.0
DVYE iShares Emerging Markets Dividend ETF 4.7 49 6 15.0 +4.6
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 4.6 45 10 15.8 +5.4
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 4.1 80 -25 2.1 -8.3
DOGS Arrow Dogs of the World ETF 4.1 134 -79 14.5 +4.2
GMF SPDR S&P Emerging Asia Pacific ETF 4.0 49 6 9.2 -1.2
QAT iShares MSCI Qatar Capped ETF 4.0 59 -4 8.2 -2.2
GVAL Cambria Global Value ETF 4.0 69 -14 14.0 +3.6
VIDI Vident International Equity Fund 3.9 59 -4 15.1 +4.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 3.9 29 26 14.3 +3.9
UAE iShares MSCI UAE Capped ETF 3.8 59 -4 12.8 +2.4
ISEM Invesco Strategic Emerging Markets ETF 3.6 35 20 12.2 +1.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 3.6 16 39 8.5 -1.9
AXJL WisdomTree Asia Pacific ex-Japan Fund 3.5 48 7 10.7 +0.3
ACWV iShares Edge MSCI Min Vol Global ETF 3.2 20 35 6.5 -3.9
ACWX iShares MSCI ACWI ex U.S. ETF 3.2 32 23 9.1 -1.3
VYMI Vanguard International High Dividend Yield ETF 3.1 32 23 11.9 +1.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.1 40 15 8.8 -1.6
EMIF iShares Emerging Markets Infrastructure ETF 3.0 75 -20 9.5 -0.9
VIGI Vanguard International Dividend Appreciation ETF 2.9 25 30 6.9 -3.5
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 2.9 10 45 10.2 -0.2
IXUS ishares Core MSCI Total International Stock ETF 2.8 9 46 9.2 -1.2
DWCR Arrow DWA Country Rotation ETF 2.8 95 -40 6.3 -4.1
TUR iShares MSCI Turkey ETF 2.7 59 -4 23.6 +13.2
VEU Vanguard FTSE All-World ex-US Index Fund 2.7 8 47 9.3 -1.1
VSGX Vanguard ESG International Stock ETF 2.7 17 38 8.8 -1.6
RWX SPDR Dow Jones International Real Estate ETF 2.6 59 -4 7.8 -2.6
SDEM Global X SuperDividend Emerging Markets ETF 2.6 67 -12 26.5 +16.1
EPOL iShares MSCI Poland Capped ETF 2.5 61 -6 13.2 +2.8

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:
Global X MSCI Next Emerging & Frontier 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 13.8 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 10.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 CATEGORY
AVERAGE
1.46
 
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.