Global X MSCI Next Emerging & Frontier ETF
ALTAR
Score™
8.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.0x P/Sales
ratio
2.2x
P/BV
ratio
1.7x Div.
yield
2.8%


  • 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 06, 2013
Assets (mns) $16
Currency USD
Expense ratio 66 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 196
Wgt avg mkt cap (mns) $13,928
Large cap (>$10bn) 43.3%
Mid cap ($2-10bn) 49.2%
Small cap (<$2bn) 2.2%
Developed mkts 0.9%
Emerging mkts 86.1%

TOP TEN HOLDINGS
NASPERS LTD-N SHS 2.2 %
SAUDI ARABIAN OIL COMPANY (SAUDI A 1.9 %
MOBILE TELECOMMUNICATIONS CO. KSC 1.9 %
PT TELEKOMUNIKASI INDONESIA, TBK C 1.8 %
NATIONAL BANK OF KUWAIT 1.8 %
WALMART DE MEXICO-SER V 1.8 %
SAUDI TELECOM CO. 1.7 %
VINGROUP JSC 1.7 %
BANK CENTRAL ASIA PT 1.6 %
PTT PCL-NVDR 1.6 %
Total 18.1 %

TOP COUNTRY EXPOSURE
INDONESIA 10.1 %
SAUDI ARABIA 9.8 %
THAILAND 9.8 %
VIETNAM 8.4 %
MALAYSIA 7.9 %
KUWAIT 7.3 %
MEXICO 6.8 %
SOUTH AFRICA 6.7 %
UAE 4.6 %
PHILIPPINES 4.4 %

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.
-17.8% -15.8% 0.1% -- -3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.74 55%
MSCI EAFE 0.96 76%
MSCI Emg. Mkts. 0.78 77%

Technical Indicators
Recent close $18.85
30d moving avg. $17.64
Annualized volatility 17.9%
Short interest (ETF) 0.4%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.2%
Bid/Ask (% of price) 0.71%
ADV underlying (mns) $2,488

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 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: 66 bp ALTAR Score™: 8.0%


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
(%)
FM iShares MSCI Frontier 100 ETF 24.1 79 -13 9.2 +1.2
ASEA Global X Southeast Asia ETF 21.8 65 1 9.0 +1.0
EMXC iShares MSCI Emerging Markets ex China ETF 18.5 25 41 7.3 -0.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 18.4 25 41 7.5 -0.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 17.9 44 22 8.4 +0.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 17.6 29 37 9.5 +1.5
LDEM iShares ESG MSCI EM Leaders ETF 14.8 16 50 7.3 -0.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 14.4 49 17 6.8 -1.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 14.4 50 16 10.0 +2.0
RNEM Emerging Markets Equity Select ETF 13.8 75 -9 10.4 +2.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 13.0 30 36 8.2 +0.2
SCHE Schwab Emerging Markets Equity ETF 12.3 11 55 7.4 -0.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 12.2 39 27 11.9 +3.9
EDIV SPDR S&P Emerging Markets Dividend ETF 12.0 49 17 11.0 +3.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 11.9 20 46 6.3 -1.8
PBEE Invesco PureBeta FTSE Emerging Markets ETF 11.7 15 51 8.1 +0.1
ESGE iShares ESG Aware MSCI EM ETF 11.5 25 41 7.9 -0.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 11.5 40 26 6.8 -1.2
FRDM Freedom 100 Emerging Markets ETF 11.4 49 17 5.8 -2.2
ROAM Hartford Multifactor Emerging Markets ETF 11.3 44 22 12.1 +4.1
XCEM Columbia EM Core ex-China ETF 11.0 16 50 6.4 -1.6
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 10.9 51 15 19.2 +11.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 10.8 30 36 7.2 -0.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 10.7 65 1 7.0 -1.1
EEM iShares MSCI Emerging Markets ETF 10.6 68 -2 6.8 -1.2
AFK VanEck Vectors Africa Index ETF 10.5 79 -13 7.4 -0.6
PXH Invesco FTSE RAFI Emerging Markets ETF 10.4 50 16 12.3 +4.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 10.3 36 30 7.6 -0.4
JHEM John Hancock Multifactor Emerging Markets ETF 10.1 49 17 8.1 +0.1
BKEM BNY Mellon Emerging Markets Equity ETF 10.1 11 55 7.7 -0.3
EIDO iShares MSCI Indonesia ETF 10.1 59 7 8.0 -0.1
FLSA Franklin FTSE Saudi Arabia ETF 9.8 39 27 5.5 -2.5
KSA iShares MSCI Saudi Arabia Capped ETF 9.7 74 -8 4.9 -3.1
THD iShares MSCI Thailand ETF 9.7 59 7 9.3 +1.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 9.7 61 5 8.1 +0.1
VWO Vanguard FTSE Emerging Markets ETF 9.6 10 56 7.5 -0.5
IEMG iShares Core MSCI Emerging Markets ETF 9.5 13 53 7.3 -0.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 9.3 45 21 7.1 -0.9
SPEM SPDR Portfolio Emerging Markets ETF 8.8 11 55 7.2 -0.8
FLLA Franklin FTSE Latin America ETF 8.3 19 47 5.8 -2.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 8.3 45 21 8.0 +0.0
IDX VanEck Vectors Indonesia Index ETF 8.2 57 9 7.1 -0.9
EWM iShares MSCI Malaysia ETF 7.9 49 17 5.5 -2.5
VNM VanEck Vectors Vietnam ETF 7.9 66 0 5.6 -2.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 7.8 32 34 5.6 -2.4
NUEM Nuveen ESG Emerging Markets Equity ETF 7.5 45 21 6.3 -1.7
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 7.3 20 46 10.3 +2.3
ILF iShares Latin America 40 ETF 7.2 48 18 5.5 -2.6
KWT iShares MSCI Kuwait ETF 7.1 74 -8 6.2 -1.8
FLZA Franklin FTSE South Africa ETF 7.0 19 47 10.0 +2.0
EZA iShares MSCI South Africa ETF 7.0 59 7 7.0 -1.0
FLMX Franklin FTSE Mexico ETF 6.8 19 47 8.2 +0.2
EWW iShares MSCI Mexico Capped ETF 6.8 49 17 7.5 -0.5
EDOG ALPS Emerging Sector Dividend Dogs ETF 6.5 60 6 9.4 +1.4
DEM WisdomTree Emerging Markets High Dividend Fund 6.5 63 3 13.0 +5.0
ECON Columbia Emerging Markets Consumer ETF 6.4 59 7 5.1 -2.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.3 59 7 10.0 +2.0
ECOW Pacer Emerging Markets Cash Cows 100 ETF 6.1 74 -8 12.3 +4.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 5.7 49 17 8.4 +0.4
EEMA iShares MSCI Emerging Markets Asia ETF 5.4 50 16 7.2 -0.8
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 5.3 45 21 8.7 +0.7
AVEM Avantis Emerging Markets Equity ETF 5.2 33 33 8.0 -0.0
EMMF WisdomTree Emerging Markets Multifactor Fund 5.1 48 18 9.3 +1.3
VYMI Vanguard International High Dividend Yield ETF 4.7 27 39 9.3 +1.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 4.7 32 34 8.0 +0.0
UAE iShares MSCI UAE Capped ETF 4.6 59 7 7.2 -0.8
VIDI Vident International Equity Fund 4.5 59 7 10.2 +2.2
DVYE iShares Emerging Markets Dividend ETF 4.5 49 17 16.6 +8.6
FEM First Trust Emerging Markets AlphaDEX Fund 4.5 80 -14 11.6 +3.6
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 4.4 45 21 13.3 +5.3
FLAX Franklin FTSE Asia Ex Japan ETF 4.4 19 47 7.1 -0.9
EPHE iShares MSCI Philippines ETF 4.4 59 7 7.3 -0.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 4.3 60 6 4.5 -3.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 4.3 68 -2 6.5 -1.5
DVEM WisdomTree Emerging Markets Dividend Fund 4.2 32 34 6.9 -1.1
VIGI Vanguard International Dividend Appreciation ETF 4.0 20 46 5.1 -2.9
LVIN Hartford Multifactor Low Volatility International Equity ETF 3.9 29 37 10.7 +2.7
QAT iShares MSCI Qatar Capped ETF 3.8 59 7 6.6 -1.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 3.8 16 50 6.3 -1.7
GVAL Cambria Global Value ETF 3.8 65 1 9.5 +1.5
ISEM Invesco Strategic Emerging Markets ETF 3.7 35 31 10.0 +2.0
GMF SPDR S&P Emerging Asia Pacific ETF 3.6 49 17 6.7 -1.3
ACWV iShares Edge MSCI Min Vol Global ETF 3.3 20 46 5.5 -2.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.3 40 26 6.5 -1.5
ACWX iShares MSCI ACWI ex U.S. ETF 3.2 32 34 6.6 -1.4
VSGX Vanguard ESG International Stock ETF 3.2 17 49 6.6 -1.4
EWEB Global X Emerging Markets Internet & E-commerce ETF 2.9 65 1 2.8 -5.2
IGRO iShares International Dividend Growth ETF 2.9 22 44 7.6 -0.4
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 2.9 10 56 8.3 +0.3
IXUS ishares Core MSCI Total International Stock ETF 2.9 9 57 6.8 -1.2
VEU Vanguard FTSE All-World ex-US Index Fund 2.9 8 58 6.9 -1.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 2.8 50 16 17.3 +9.3
EPOL iShares MSCI Poland Capped ETF 2.7 61 5 9.3 +1.3
SDEM Global X SuperDividend Emerging Markets ETF 2.7 66 0 16.6 +8.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.5 86 -20 2.5 -5.5
FLN First Trust Latin America AlphaDEX Fund 2.4 80 -14 9.8 +1.8
RWX SPDR Dow Jones International Real Estate ETF 2.4 59 7 6.1 -1.9

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 1.6 x
Less: Expense ratio 66 bp
Equals: ALTAR Score 8.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.40
 
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.