Global X Emerging Markets ex-China ETF
ALTAR
Score™		 6.1% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 17.6x P/Sales
ratio		 1.9x
P/BV
ratio		 2.7x Div.
yield		 1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
EMM is an actively managed fund that invests in stocks of emerging market companies of all sizes that are believed to be future leaders within their respective markets.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Global X
Website www.globalxetfs.com/EMM
Inception date May 15, 2023
Assets (mns) $32
Currency USD
Expense ratio 75 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 45
Wgt avg mkt cap (mns) $17,512
Large cap (>$10bn) 71.0%
Mid cap ($2-10bn) 19.3%
Small cap (<$2bn) 6.5%
Developed mkts 3.7%
Emerging mkts 94.7%

TOP TEN HOLDINGS
GLOBAL X INDIA ACTIVE ETF 27.8 %
TAIWAN SEMICONDUCTOR-SP ADR 16.7 %
GLOBAL X BRAZIL 8.2 %
MEDIATEK INC 4.6 %
SAMSUNG ELECTR-GDR REGS 3.0 %
HYNIX SEMICONDUCTOR INC 2.6 %
HYUNDAI ELECTRIC & ENERGY SYSTEMS 1.9 %
AL RAJHI BANK 1.8 %
BIG HIT ENTERTAINMENT CO., LTD. 1.7 %
NATIONAL COMMERCIAL BANK CJSC 1.6 %
Total 69.8 %

TOP COUNTRY EXPOSURE
INDIA 27.0 %
TAIWAN 26.8 %
SOUTH KOREA 15.9 %
BRAZIL 6.5 %
SAUDI ARABIA 4.6 %
SOUTH AFRICA 4.0 %
MEXICO 3.0 %
UAE 1.7 %
ABU DHABI 1.6 %
INDONESIA 1.2 %

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.
19.0% 12.1% -- -- 10.2%

Market Correlations
versus... Beta R-squared
S&P500 0.79 50%
MSCI EAFE 0.42 16%
MSCI Emg. Mkts. 0.48 19%

Technical Indicators
Recent close $33.01
30d moving avg. $31.90
Annualized volatility 14.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 16
Turnover 1.7%
Bid/Ask (% of price) 0.61%
ADV underlying (mns) $2,968

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 442 potential alternatives to the Global X Emerging Markets ex-China ETF ETF based on the alternatives' overlap in portfolio holdings with EMM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EMM Expense: 75 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EMM
Ticker Fund
Name		 Overlap1
vs EMM
(%)		 Expense
ratio
(bp)		 Savings
vs EMM
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EMM
(%)
EMC Global X Emerging Markets Great Consumer ETF 41.9 75 0 10.8 +4.7
FRDM Freedom 100 Emerging Markets ETF 20.1 49 26 7.6 +1.5
UMMA Wahed Dow Jones Islamic World ETF 17.4 65 10 5.1 -1.0
AVXC Avantis Emerging Markets Ex-China Equity ETF 16.2 33 42 8.2 +2.1
AVEM Avantis Emerging Markets Equity ETF 14.5 33 42 8.1 +2.1
GMF SPDR S&P Emerging Asia Pacific ETF 14.0 49 26 9.0 +3.0
XCEM Columbia EM Core ex-China ETF 13.4 16 59 7.7 +1.6
FTHF First Trust Emerging Markets Human Flourishing ETF 13.0 75 0 7.5 +1.5
AVSE Avantis Responsible Emerging Markets Equity ETF 12.8 33 42 8.0 +1.9
STXE Strive Emerging Markets Ex-China ETF 12.2 32 43 7.2 +1.1
WUGI AXS Esoterica NextG Economy ETF 11.8 75 0 2.2 -3.9
XC WisdomTree Emerging Markets Ex-China Fund 11.8 32 43 6.2 +0.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 11.8 24 51 7.4 +1.3
ECON Columbia Emerging Markets Consumer ETF 11.1 49 26 11.4 +5.3
EMDM First Trust Bloomberg Emerging Market Democracies ETF 11.1 75 0 8.5 +2.4
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 11.0 33 42 9.3 +3.3
MEM Matthews Emerging Markets Equity Active ETF 10.4 79 -4 7.3 +1.2
EMXC iShares MSCI Emerging Markets ex China ETF 10.4 25 50 7.0 +1.0
EMXF iShares ESG Advanced MSCI EM ETF 9.8 16 59 8.0 +2.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 9.7 32 43 8.6 +2.5
SMH VanEck Semiconductor ETF 9.7 35 40 3.3 -2.8
MINV Matthews Asia Innovators Active ETF 9.6 79 -4 6.8 +0.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 9.3 15 60 7.3 +1.3
WTAI WisdomTree Artificial Intelligence and Innovation Fund 9.3 45 30 2.3 -3.8
DEHP Dimensional Emerging Markets High Profitability ETF 9.0 41 34 6.3 +0.2
APIE ActivePassive International Equity ETF 8.8 45 30 7.2 +1.1
DEXC Dimensional Emerging Markets ex China Core EquityETF 8.4 53 22 7.4 +1.4
AIA iShares Asia 50 ETF 8.2 50 25 11.2 +5.1
FLTW Franklin FTSE Taiwan ETF 8.2 19 56 6.1 +0.0
EWY iShares MSCI South Korea ETF 8.1 58 17 6.8 +0.7
JHEM John Hancock Multifactor Emerging Markets ETF 8.0 49 26 9.5 +3.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 8.0 30 45 9.6 +3.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 7.8 50 25 10.6 +4.5
CGGO Capital Group Global Growth Equity ETF 7.7 47 28 4.4 -1.6
ROAM Hartford Multifactor Emerging Markets ETF 7.6 44 31 11.5 +5.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 7.6 30 45 8.8 +2.7
AIS VistaShares Artificial Intelligence Supercycle ETF 7.6 75 0 2.2 -3.8
JIG JPMorgan International Growth ETF 7.5 55 20 4.5 -1.5
FLKR Franklin FTSE South Korea ETF 7.5 9 66 7.5 +1.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 7.4 66 9 8.8 +2.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 7.4 20 55 9.8 +3.8
EEM iShares MSCI Emerging Markets ETF 7.4 69 6 9.5 +3.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 7.4 15 60 9.6 +3.6
BKEM BNY Mellon Emerging Markets Equity ETF 7.3 11 64 9.4 +3.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 7.2 36 39 9.1 +3.0
IQM Franklin Intelligent Machines ETF 7.2 50 25 1.8 -4.3
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 7.1 88 -13 8.2 +2.2
MOTO SmartETFs Smart Transportation & Technology ETF 7.1 68 7 6.9 +0.8
EVLU iShares MSCI Emerging Markets Value Factor ETF 7.0 35 40 16.4 +10.3
DFEV Dimensional Emerging Markets Value ETF 7.0 43 32 12.6 +6.5
IVES Wedbush ETFMG Global Cloud Technology ETF 7.0 68 7 6.1 +0.1
OSEA Harbor International Compounders ETF 6.8 55 20 4.7 -1.4
EWT iShares MSCI Taiwan ETF 6.8 58 17 6.0 -0.0
FDTX Fidelity Disruptive Technology ETF 6.8 50 25 2.5 -3.5
CWI SPDR MSCI ACWI ex-US ETF 6.8 30 45 7.3 +1.3
FDCF Fidelity Disruptive Communications ETF 6.7 50 25 2.7 -3.4
VNSE Natixis Vaughan Nelson Select ETF 6.7 80 -5 4.5 -1.5
EEMA iShares MSCI Emerging Markets Asia ETF 6.7 49 26 9.4 +3.3
ESGE iShares ESG Aware MSCI EM ETF 6.7 25 50 9.5 +3.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 6.4 32 43 6.6 +0.5
IEMG iShares Core MSCI Emerging Markets ETF 6.4 9 66 9.8 +3.8
AIVC Amplify Bloomberg AI Value Chain ETF 6.4 59 16 4.6 -1.4
DFAE Dimensional Emerging Core Equity Market ETF 6.3 35 40 8.8 +2.7
BGDV Bahl & Gaynor Dividend ETF 6.3 45 30 4.7 -1.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 6.2 45 30 9.7 +3.6
NUEM Nuveen ESG Emerging Markets Equity ETF 6.2 36 39 7.4 +1.3
DEM WisdomTree Emerging Markets High Dividend Fund 6.2 63 12 13.4 +7.4
DSTX Distillate International Fundamental Stability & Value ETF 6.1 55 20 7.5 +1.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 6.1 70 5 8.6 +2.6
EMGF iShares Emerging Markets Equity Factor ETF 6.1 25 50 10.9 +4.9
BKCI BNY Mellon Concentrated International ETF 6.0 80 -5 5.1 -1.0
AOTG AOT Growth and Innovation ETF 5.9 75 0 1.6 -4.5
GTEK Goldman Sachs Future Tech Leaders Equity ETF 5.8 75 0 2.8 -3.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.7 42 33 6.9 +0.9
XCNY SPDR S&P Emerging Markets ex-China ETF 5.7 15 60 7.4 +1.4
AIQ Global X Artificial Intelligence & Technology ETF 5.6 68 7 3.3 -2.8
FLAX Franklin FTSE Asia Ex Japan ETF 5.6 19 56 8.6 +2.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 5.5 41 34 8.3 +2.2
PATN Pacer Nasdaq International Patent Leaders ETF 5.4 65 10 5.5 -0.5
CARZ First Trust NASDAQ Global Auto Index Fund 5.3 70 5 4.1 -1.9
FDEM Fidelity Emerging Markets Multifactor ETF 5.3 25 50 12.3 +6.2
TINY ProShares Nanotechnology ETF 5.2 58 17 4.2 -1.9
ADIV SmartETFs Asia Pacific Dividend Builder ETF 5.2 78 -3 9.3 +3.2
GFGF Guru Favorite Stocks ETF Guru Favorite Stocks Fund 5.1 65 10 3.6 -2.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 5.0 38 37 8.8 +2.7
CGDG Capital Group Dividend Growers ETF 5.0 47 28 6.1 +0.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.9 59 16 8.4 +2.4
IGPT Invesco AI and Next Gen Software ETF 4.8 60 15 3.6 -2.4
TDIV First Trust NASDAQ Technology Dividend Index Fund 4.7 50 25 5.1 -1.0
ABLG Abacus FCF International Leaders ETF 4.6 59 16 6.9 +0.8
SCHE Schwab Emerging Markets Equity ETF 4.6 11 64 10.4 +4.3
PXH Invesco FTSE RAFI Emerging Markets ETF 4.5 49 26 15.0 +9.0
QTUM Defiance Quantum ETF 4.5 40 35 4.7 -1.3
METV Roundhill Ball Metaverse ETF 4.5 59 16 7.4 +1.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 4.5 80 -5 8.5 +2.5
SPEM SPDR Portfolio Emerging Markets ETF 4.4 7 68 10.0 +4.0
RFFC ALPS Active Equity Opportunity ETF 4.4 48 27 4.2 -1.8
SOXQ Invesco PHLX Semiconductor ETF 4.3 19 56 3.8 -2.3
VWO Vanguard FTSE Emerging Markets ETF 4.2 7 68 9.8 +3.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 4.1 39 36 15.5 +9.4
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 4.1 60 15 10.0 +3.9
KSA iShares MSCI Saudi Arabia ETF 4.0 74 1 0.0 -6.1
SOXX iShares Semiconductor ETF 4.0 35 40 4.0 -2.0
EZA iShares MSCI South Africa ETF 4.0 58 17 9.4 +3.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 3.9 44 31 10.4 +4.3
FFOG Franklin Focused Growth ETF 3.9 61 14 2.3 -3.8
FLSA Franklin FTSE Saudi Arabia ETF 3.8 39 36 0.0 -6.1
LDEM iShares ESG MSCI EM Leaders ETF 3.8 17 58 13.3 +7.2
SSPX Janus Henderson U.S. Sustainable Equity ETF 3.7 55 20 10.4 +4.3
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.6 65 10 11.5 +5.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 3.6 40 35 6.7 +0.7
TMFG Motley Fool Global Opportunities ETF 3.6 85 -10 3.9 -2.1
TEKX SPDR Galaxy Transformative Tech Accelerators ETF 3.5 65 10 -1.3 -7.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.5 47 28 8.0 +2.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 3.5 29 46 9.2 +3.1
DARP Grizzle Growth ETF 3.5 75 0 2.6 -3.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.4 95 -20 11.2 +5.2
FEOE First Eagle Overseas Equity ETF 3.4 79 -4 7.6 +1.6
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 3.3 25 50 6.4 +0.3
UAE iShares MSCI UAE ETF 3.3 59 16 0.0 -6.1
AFK VanEck Africa Index ETF 3.2 98 -23 11.5 +5.4
DIVS SmartETFs Dividend Builder ETF 3.2 65 10 5.0 -1.1
GVIP Goldman Sachs Hedge Industry VIP ETF 3.2 45 30 3.1 -3.0
LIVR Intelligent Livermore ETF 3.1 69 6 5.1 -0.9
AVES Avantis Emerging Markets Value ETF 3.1 36 39 10.7 +4.6
XNTK SPDR NYSE Technology ETF 3.1 35 40 3.1 -2.9
VPL Vanguard FTSE Pacific ETF 3.1 7 68 6.5 +0.5
AADR AdvisorShares Dorsey Wright ADR ETF 3.1 110 -35 4.8 -1.2
IMFL Invesco International Developed Dynamic Multifactor ETF 3.0 34 41 5.8 -0.2
LOUP Innovator Deepwater Frontier Tech ETF 3.0 70 5 1.0 -5.1
CHAT Roundhill Generative AI & Technology ETF 3.0 75 0 8.0 +1.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 3.0 80 -5 4.8 -1.2
CGIE Capital Group International Equity ETF 3.0 54 21 5.0 -1.1
FLMX Franklin FTSE Mexico ETF 3.0 19 56 10.1 +4.0
EWW iShares MSCI Mexico ETF 3.0 50 25 9.7 +3.7
PRAY FIS Christian Stock Fund 2.9 69 6 5.2 -0.9
RSHO Tema American Reshoring ETF 2.9 75 0 4.3 -1.8
EMMF WisdomTree Emerging Markets Multifactor Fund 2.9 48 27 7.2 +1.1
CGXU Capital Group International Focus Equity ETF 2.8 54 21 5.2 -0.9
IQDF FlexShares International Quality Dividend Index Fund 2.8 47 28 8.7 +2.7
ARVR First Trust Indxx Metaverse ETF 2.8 70 5 3.8 -2.3
EYLD Cambria Emerging Shareholder Yield ETF 2.8 66 9 12.1 +6.0
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 2.8 65 10 1.8 -4.3
FEGE First Eagle Global Equity ETF 2.7 79 -4 6.7 +0.7
KPOP KPOP and Korean Entertainment ETF 2.7 75 0 2.0 -4.0
ARKW ARK Next Generation Internet ETF 2.7 87 -12 -0.4 -6.4
DTCR Global X Data Center & Digital Infrastructure ETF 2.6 50 25 3.7 -2.4
VSGX Vanguard ESG International Stock ETF 2.6 10 65 7.4 +1.3
NXTG First Trust Indxx NextG ETF 2.6 70 5 4.9 -1.2
WRND IQ Global Equity R&D Leaders ETF 2.5 18 57 7.7 +1.7
VYMI Vanguard International High Dividend Yield ETF 2.5 17 58 9.4 +3.4
LRGE ClearBridge Large Cap Growth ESG ETF 2.5 59 16 3.8 -2.3
ARKQ ARK Autonomous Technology & Robotics ETF 2.5 75 0 0.3 -5.8
FLLA Franklin FTSE Latin America ETF 2.4 19 56 12.6 +6.5
TEMP JPMorgan Climate Change Solutions ETF 2.4 49 26 5.8 -0.3
RODE Hartford Multifactor Diversified International ETF 2.4 29 46 11.5 +5.4
SFYF SoFi Social 50 ETF 2.4 29 46 0.3 -5.7
GINX SGI Enhanced Global Income ETF 2.4 98 -23 7.0 +0.9
ACWX iShares MSCI ACWI ex U.S. ETF 2.3 34 41 7.4 +1.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 2.3 9 66 5.5 -0.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 45 7.6 +1.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.3 18 57 7.7 +1.6
EDIV SPDR S&P Emerging Markets Dividend ETF 2.3 49 26 11.9 +5.9
TMAT Main Thematic Innovation ETF 2.3 164 -89 -1.5 -7.5
IDHQ Invesco S&P International Developed High Quality ETF 2.3 29 46 6.4 +0.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.3 41 34 7.0 +1.0
SPDW SPDR Portfolio Developed World ex-US ETF 2.3 3 72 6.8 +0.7
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.2 80 -5 9.2 +3.1
KOCG FIS Knights of Columbus Global Belief ETF 2.2 75 0 5.3 -0.8
VEU Vanguard FTSE All-World ex-US Index Fund 2.2 4 71 7.8 +1.8
WWJD Inspire International ETF 2.2 80 -5 7.2 +1.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.1 58 17 4.3 -1.7
TTAI FCF International Quality ETF 2.1 59 16 7.4 +1.4
IXUS iShares Core MSCI Total International Stock ETF 2.1 7 68 7.6 +1.5
VXUS Vanguard Total International Stock ETF 2.0 5 70 7.6 +1.5
BGRO iShares Large Cap Growth Active ETF 2.0 55 20 3.0 -3.1
ILF iShares Latin America 40 ETF 2.0 48 27 12.2 +6.2
RGEF Rockefeller Global Equity ETF 2.0 55 20 4.6 -1.5
IXN iShares Global Tech ETF 1.9 41 34 3.2 -2.8
JPIN J.P. Morgan Diversified Return International Equity ETF 1.9 37 38 8.2 +2.1
RNEM First Trust Emerging Markets Equity Select ETF 1.9 75 0 7.6 +1.6
CGGR Capital Group Growth ETF 1.9 39 36 3.0 -3.0
ASEA Global X FTSE Southeast Asia ETF 1.9 65 10 6.6 +0.5
IDV iShares International Select Dividend ETF 1.9 51 24 10.5 +4.4
BINV Brandes International ETF 1.8 70 5 9.1 +3.0
KNCT Invesco Next Gen Connectivity ETF 1.8 40 35 4.3 -1.7
FFLC Fidelity Fundamental Large Cap Core ETF 1.8 38 37 4.4 -1.7
PBD Invesco Global Clean Energy ETF 1.7 75 0 -0.4 -6.4
UIVM VictoryShares International Value Momentum ETF 1.7 35 40 8.9 +2.9
GINN Goldman Sachs Innovate Equity ETF 1.7 52 23 3.4 -2.6
ARTY iShares Future AI & Tech ETF 1.6 47 28 3.1 -3.0
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 1.6 68 7 2.3 -3.8
JSTC Adasina Social Justice All Cap Global ETF 1.6 89 -14 4.8 -1.3
SNSR Global X Internet of Things ETF 1.6 68 7 4.4 -1.7
EMIF iShares Emerging Markets Infrastructure ETF 1.6 60 15 4.9 -1.2
EEMO Invesco S&P Emerging Markets Momentum ETF 1.6 29 46 6.4 +0.3
BLOK Amplify Transformational Data Sharing ETF 1.5 75 0 -0.4 -6.5
LEGR First Trust Indxx Innovative Transaction & Process ETF 1.5 65 10 7.5 +1.5
BWEB Bitwise Web3 ETF 1.5 85 -10 -0.2 -6.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.5 86 -11 13.3 +7.2
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.5 86 -11 0.4 -5.6
ISHP First Trust Nasdaq Retail ETF 1.5 60 15 5.4 -0.7
SWP SWP Growth & Income ETF 1.4 99 -24 4.0 -2.1
DWX SPDR S&P International Dividend ETF 1.3 45 30 6.1 +0.1
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.3 45 30 10.5 +4.4
BLES Inspire Global Hope ETF 1.3 61 14 6.7 +0.6
FNDF Schwab Fundamental International Large Co. Index ETF 1.3 25 50 9.2 +3.1
FFND Future Fund Active ETF 1.3 100 -25 4.2 -1.9
FDLS Inspire Fidelis Multi Factor ETF 1.3 76 -1 5.0 -1.1
DGT SPDR Global Dow ETF 1.3 50 25 6.7 +0.6
FCLD Fidelity Cloud Computing ETF 1.3 39 36 3.1 -3.0
SCHF Schwab International Equity ETF 1.3 6 69 7.0 +1.0
ROBO ROBO Global Robotics & Automation Index ETF 1.3 95 -20 3.1 -3.0
HFXI IQ FTSE International Equity Currency Neutral ETF 1.2 20 55 6.7 +0.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 1.2 45 30 8.5 +2.5
JGRO JPMorgan Active Growth ETF 1.2 44 31 3.3 -2.8
IDX VanEck Indonesia Index ETF 1.2 57 18 7.3 +1.2
EIDO iShares MSCI Indonesia ETF 1.2 59 16 8.2 +2.2
FEM First Trust Emerging Markets AlphaDEX Fund 1.2 80 -5 11.1 +5.1
VEA Vanguard FTSE Developed Markets ETF 1.2 3 72 7.0 +0.9
LOWV AB US Low Volatility Equity ETF 1.2 48 27 5.1 -1.0
FSST Fidelity Sustainable U.S. Equity ETF 1.2 59 16 4.2 -1.9
ARKK ARK Innovation ETF 1.1 75 0 -2.3 -8.3
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.1 61 14 1.1 -5.0
XT iShares Exponential Technologies ETF 1.1 46 29 4.5 -1.5
LRGC AB US Large Cap Strategic Equities ETF 1.1 48 27 4.3 -1.8
FBCG Fidelity Blue Chip Growth ETF 1.1 59 16 2.7 -3.4
FMET Fidelity Metaverse ETF 1.1 39 36 4.4 -1.7
FDNI First Trust Dow Jones International Internet ETF 1.1 65 10 20.2 +14.1
SOCL Global X Social Media ETF 1.1 65 10 8.9 +2.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.0 20 55 5.4 -0.6
TPIF Timothy Plan International ETF 1.0 62 13 6.1 +0.1
DEW WisdomTree Global High Dividend Fund 1.0 58 17 8.3 +2.3
FGD First Trust Dow Jones Global Select Dividend Index Fund 1.0 56 19 10.7 +4.6
GCOW Pacer Global Cash Cows Dividend ETF 1.0 60 15 10.9 +4.8
FFTY Innovator IBD 50 ETF 1.0 80 -5 -2.2 -8.3
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.9 61 14 -1.7 -7.8
FLN First Trust Latin America AlphaDEX Fund 0.9 80 -5 10.1 +4.1
ACWI iShares MSCI ACWI ETF 0.9 32 43 5.3 -0.8
TIME Clockwise Core Equity & Innovation ETF 0.9 95 -20 2.8 -3.3
HAP VanEck Natural Resources ETF 0.9 50 25 9.1 +3.1
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.9 45 30 4.0 -2.0
TRFM AAM Transformers ETF 0.9 49 26 1.2 -4.9
CIL VictoryShares International Volatility Wtd ETF 0.9 45 30 6.5 +0.5
VNM VanEck Vietnam ETF 0.9 66 9 6.4 +0.3
VNAM Global X MSCI Vietnam ETF 0.9 50 25 6.6 +0.5
VT Vanguard Total World Stock ETF 0.8 6 69 5.7 -0.4
JGLO JPMorgan Global Select Equity ETF 0.8 33 42 4.9 -1.2
IGRO iShares International Dividend Growth ETF 0.8 15 60 7.2 +1.1
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.8 12 63 8.0 +1.9
BGIG Bahl & Gaynor Income Growth ETF 0.8 45 30 5.1 -0.9
GLOF iShares Global Equity Factor ETF 0.8 20 55 6.3 +0.2
ARGT Global X MSCI Argentina ETF 0.8 59 16 4.2 -1.9
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.8 12 63 4.9 -1.1
KLMT Invesco MSCI Global Climate 500 ETF 0.8 10 65 5.5 -0.6
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.7 24 51 7.4 +1.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.7 20 55 6.2 +0.1
EPHE iShares MSCI Philippines ETF 0.7 59 16 0.0 -6.1
RXI iShares Global Consumer Discretionary ETF 0.7 41 34 9.0 +3.0
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.7 58 17 9.9 +3.8
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 0.7 85 -10 8.8 +2.8
SETM Sprott Energy Transition Materials ETF 0.7 65 10 2.2 -3.9
GMET VanEck Green Metals ETF 0.7 63 12 7.6 +1.5
COPX Global X Copper Miners ETF 0.7 65 10 6.0 -0.0
DMAT Global X Disruptive Materials ETF 0.7 59 16 6.6 +0.6
ICOP iShares Copper and Metals Mining ETF 0.7 47 28 7.3 +1.3
PICK iShares MSCI Global Metals & Mining Producers ETF 0.7 39 36 11.4 +5.3
BATT Amplify Lithium & Battery Technology ETF 0.7 59 16 2.9 -3.2
COPA Themes Copper Miners ETF 0.7 35 40 4.9 -1.2
FEP First Trust Europe AlphaDEX Fund 0.6 80 -5 8.9 +2.9
NUDM Nuveen ESG International Developed Markets Equity ETF 0.6 31 44 6.0 -0.1
RWX SPDR Dow Jones International Real Estate ETF 0.6 59 16 6.8 +0.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.6 70 5 7.6 +1.5
VIGI Vanguard International Dividend Appreciation ETF 0.6 10 65 6.3 +0.3
TUR iShares MSCI Turkey ETF 0.5 58 17 18.4 +12.4
GVAL Cambria Global Value ETF 0.5 68 7 10.2 +4.2
RCGE RockCreek Global Equality ETF 0.5 95 -20 6.6 +0.6
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.5 20 55 6.3 +0.2
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.5 12 63 5.8 -0.3
IXP iShares Global Comm Services ETF 0.5 42 33 5.4 -0.7
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.5 70 5 12.6 +6.6
MXI iShares Global Materials ETF 0.5 41 34 7.5 +1.5
GREK Global X MSCI Greece ETF 0.5 57 18 11.2 +5.2
VIDI Vident International Equity Strategy ETF 0.5 61 14 10.5 +4.4
EWU iShares MSCI United Kingdom ETF 0.5 50 25 8.0 +1.9
ABEQ Absolute Select Value ETF 0.5 85 -10 4.8 -1.3
BBCA JPMorgan BetaBuilders Canada ETF 0.5 19 56 6.2 +0.1
FLCA Franklin FTSE Canada ETF 0.5 9 66 6.3 +0.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.5 46 29 9.8 +3.7
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 0.5 32 43 6.0 -0.0
ION ProShares S&P Global Core Battery Metals ETF 0.5 58 17 8.2 +2.2
PID Invesco International Dividend Achievers ETF 0.5 53 22 5.5 -0.6
GDX VanEck Gold Miners ETF 0.5 51 24 3.2 -2.9
IGE iShares North American Natural Resources ETF 0.5 41 34 7.5 +1.5
BOUT Innovator IBD Breakout Opportunities ETF 0.5 81 -6 2.7 -3.3
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 0.5 60 15 3.7 -2.4
INFL Horizon Kinetics Inflation Beneficiaries ETF 0.5 85 -10 3.9 -2.1
SILJ ETFMG Prime Junior Silver Miners ETF 0.5 69 6 2.0 -4.1
BEEX BeeHive ETF 0.5 84 -9 4.2 -1.9
SDEM Global X MSCI SuperDividend Emerging Markets ETF 0.5 67 8 13.3 +7.2
WGMI Valkyrie Bitcoin Miners ETF 0.4 75 0 -3.3 -9.4
BITQ Bitwise Crypto Industry Innovators ETF 0.4 85 -10 -2.1 -8.1
BUYZ Franklin Disruptive Commerce ETF 0.4 50 25 2.3 -3.8
FDIS Fidelity MSCI Consumer Discretionary Index ETF 0.4 8 67 4.4 -1.6
IQSU IQ Candriam U.S. Large Cap Equity ETF 0.4 9 66 4.7 -1.4
NULC Nuveen ESG Large-Cap ETF 0.4 21 54 4.6 -1.5
NULG Nuveen ESG Large-Cap Growth ETF 0.4 26 49 3.3 -2.8
ONLN ProShares Online Retail ETF 0.4 58 17 1.9 -4.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 0.4 35 40 4.0 -2.1
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF 0.4 10 65 5.0 -1.1
HAPI Harbor Human Capital Factor US Large Cap ETF 0.4 36 39 4.7 -1.4
FDFF Fidelity Disruptive Finance ETF 0.4 50 25 4.5 -1.6
AVSU Avantis Responsible U.S. Equity ETF 0.4 15 60 5.8 -0.2
PNQI Invesco NASDAQ Internet ETF 0.4 60 15 3.3 -2.8
QQMG Invesco ESG NASDAQ 100 ETF 0.4 20 55 3.9 -2.1
QQQ Invesco QQQ Trust Series I 0.4 20 55 3.9 -2.2
QQQM Invesco NASDAQ 100 ETF 0.4 15 60 3.9 -2.2
ARKF ARK Fintech Innovation ETF 0.4 75 0 -0.5 -6.5
OGIG ALPS O'Shares Global Internet Giants ETF 0.4 48 27 1.5 -4.6
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 0.4 58 17 4.0 -2.1
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 0.4 60 15 4.6 -1.5
BRAZ Global X Brazil Active ETF 0.4 75 0 12.3 +6.2
EBIZ Global X E-Commerce ETF 0.4 50 25 3.8 -2.3
EGUS iShares ESG Aware MSCI USA Growth ETF 0.4 18 57 3.8 -2.3
ESMV iShares ESG MSCI USA Min Vol Factor ETF 0.4 18 57 5.9 -0.2
QNXT iShares Nasdaq-100 ex Top 30 ETF 0.4 20 55 4.2 -1.9
SUSA iShares MSCI USA ESG Select ETF 0.4 25 50 4.6 -1.5
TECB iShares U.S. Tech Breakthrough Multisector ETF 0.4 40 35 3.5 -2.6
USXF iShares ESG Advanced MSCI USA ETF 0.4 10 65 4.5 -1.6
IBUY Amplify Online Retail ETF 0.4 65 10 0.9 -5.2
CLOD Themes Cloud Computing ETF 0.4 35 40 3.1 -3.0
QQQG Pacer Nasdaq 100 Top 50 Cash Cows Growth Leaders ETF 0.4 49 26 3.6 -2.4
TOGA Tremblant Global ETF 0.4 69 6 1.9 -4.2
USRD Themes US R&D Champions ETF 0.4 29 46 4.3 -1.8
LGCF Themes US Cash Flow Champions ETF 0.4 30 45 8.3 +2.2
BCOR Grayscale Bitcoin Adopters ETF 0.4 59 16 2.2 -3.9
LOGO Alpha Brands Consumption Leaders ETF 0.4 69 6 3.2 -2.9
QQWZ Pacer Cash COWZ 100-Nasdaq100 Rotator ETF 0.4 49 26 3.6 -2.5
VCR Vanguard Consumer Discretionary ETF 0.4 9 66 4.4 -1.7
GNR SPDR S&P Global Natural Resources ETF 0.4 40 35 10.9 +4.8
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 0.4 10 65 4.8 -1.3
CCNR ALPS CoreCommodity Natural Resources ETF 0.4 39 36 10.1 +4.0
BRNY Burney U.S. Factor Rotation ETF Burney U.S. Factor Rotation 0.4 79 -4 4.3 -1.8
KXI iShares Global Consumer Staples ETF 0.4 41 34 5.6 -0.5
ONEQ Fidelity Nasdaq Composite Index ETF 0.4 21 54 3.5 -2.6
SHE SPDR MSCI USA Gender Diversity ETF 0.4 20 55 4.9 -1.2
USMV iShares MSCI USA Min Vol Factor ETF 0.4 15 60 5.9 -0.2
MTUM iShares MSCI USA Momentum Factor ETF 0.4 15 60 3.4 -2.7
SCHY Schwab International Dividend Equity ETF 0.4 14 61 9.6 +3.6
EPOL iShares MSCI Poland ETF 0.4 59 16 10.7 +4.6
FLGB Franklin FTSE United Kingdom ETF 0.4 9 66 7.4 +1.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.3 58 17 6.9 +0.8
IQDG WisdomTree International Quality Dividend Growth Fund 0.3 42 33 7.2 +1.1
IXG iShares Global Financials ETF 0.3 42 33 6.6 +0.6
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.3 42 33 9.6 +3.5
AVUS Avantis U.S. Equity ETF 0.3 15 60 5.6 -0.5
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.3 70 5 4.9 -1.1
ILCG iShares Morningstar Growth ETF 0.3 4 71 3.5 -2.5
SUSL iShares ESG MSCI USA Leaders ETF 0.3 10 65 4.8 -1.3
USCA Xtrackers MSCI USA Climate Action Equity ETF 0.3 7 68 4.9 -1.1
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 65 7.9 +1.9
QLC FlexShares US Quality Large Cap Index Fund 0.3 25 50 5.1 -0.9
OPTZ Optimize Strategy Index ETF 0.3 50 25 4.5 -1.6
LRGF iShares U.S. Equity Factor ETF 0.3 8 67 5.2 -0.8
PABU iShares Paris-Aligned Climate MSCI USA ETF 0.3 10 65 4.2 -1.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.3 58 17 6.8 +0.8
USCL iShares Climate Conscious & Transition MSCI USA ETF 0.3 8 67 4.8 -1.3
KOKU Xtrackers MSCI Kokusai Equity ETF 0.3 9 66 5.0 -1.0
VOTE TCW Transform 500 ETF 0.2 5 70 4.7 -1.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.2 2 73 4.7 -1.3
BKLC BNY Mellon US Large Cap Core Equity ETF 0.2 0 75 4.7 -1.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.2 7 68 4.6 -1.4
BKIE BNY Mellon International Equity ETF 0.2 4 71 6.9 +0.8
ESGU iShares ESG Aware MSCI USA ETF 0.2 15 60 4.6 -1.5
NZUS SPDR MSCI USA Climate Paris Aligned ETF 0.2 10 65 4.1 -1.9
KOMP SPDR S&P Kensho New Economies Composite ETF 0.2 20 55 2.3 -3.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.2 39 36 6.6 +0.6
GLBL Pacer MSCI World Industry Advantage ETF 0.2 65 10 3.9 -2.1
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.2 11 64 4.7 -1.3
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 30 6.0 -0.0
IPKW Invesco International BuyBack Achievers ETF 0.2 55 20 12.5 +6.4
ESGV Vanguard ESG U.S. Stock ETF 0.2 9 66 4.5 -1.5
GWX SPDR S&P International Small Cap ETF 0.2 40 35 5.8 -0.2
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.2 49 26 6.7 +0.7
KLMN Invesco MSCI North America Climate ETF 0.2 9 66 4.8 -1.3
ILCB iShares Morningstar U.S. Equity ETF 0.2 3 72 4.7 -1.4
RWO SPDR Dow Jones Global Real Estate ETF 0.2 50 25 6.9 +0.8
EUSA iShares MSCI USA Equal Weighted ETF 0.2 9 66 6.1 +0.0
PBUS Invesco MSCI USA ETF 0.2 4 71 4.7 -1.4
RVRB Reverb ETF 0.2 30 45 4.4 -1.7
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.2 25 50 5.5 -0.6
INRO iShares U.S. Industry Rotation Active ETF 0.2 42 33 4.1 -2.0
DMXF iShares ESG Advanced MSCI EAFE ETF 0.2 12 63 5.3 -0.7
QUS SPDR MSCI USA StrategicFactors ETF 0.2 15 60 5.6 -0.5
DFAI Dimensional International Core Equity Market ETF 0.1 18 57 7.0 +0.9
ESGD iShares ESG Aware MSCI EAFE ETF 0.1 20 55 6.5 +0.5
TOK iShares MSCI Kokusai ETF 0.1 26 49 4.9 -1.2
EFG iShares MSCI EAFE Growth ETF 0.1 36 39 4.2 -1.9
QINT American Century Quality Diversified International ETF 0.1 39 36 7.2 +1.1
SIZE iShares MSCI USA Size Factor ETF 0.1 15 60 6.0 -0.0
URTH iShares MSCI World ETF 0.1 24 51 4.9 -1.2
SPEU SPDR Portfolio Europe ETF 0.1 7 68 7.3 +1.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.1 14 61 6.0 -0.1
VGK Vanguard FTSE Europe ETF 0.1 6 69 7.3 +1.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.1 39 36 7.7 +1.7
DFIC Dimensional International Core Equity 2 ETF 0.1 23 52 7.3 +1.2
DOL WisdomTree International LargeCap Dividend Fund 0.1 48 27 7.0 +1.0
IQSI IQ Candriam International Equity ETF 0.1 15 60 6.5 +0.4
IEUR iShares Core MSCI Europe ETF 0.1 11 64 7.2 +1.2
IEV iShares Europe ETF 0.1 67 8 6.7 +0.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.1 46 29 6.4 +0.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.1 40 35 7.3 +1.2
CRTC Xtrackers US National Critical Technologies ETF 0.1 35 40 4.6 -1.5
EPS WisdomTree U.S. LargeCap Fund 0.1 8 67 5.5 -0.5
BBEU JPMorgan BetaBuilders Europe ETF 0.1 9 66 7.0 +1.0
FLEE Franklin FTSE Europe ETF 0.1 9 66 7.1 +1.0
AVDE Avantis International Equity ETF 0.1 23 52 7.2 +1.1
IUS Invesco RAFI Strategic US ETF 0.1 19 56 6.7 +0.6
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 45 5.8 -0.2
SCHC Schwab International Small-Cap Equity ETF 0.1 11 64 6.5 +0.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 67 6.0 -0.0
DWM WisdomTree International Equity Fund 0.1 48 27 7.2 +1.2
JHMD John Hancock Multifactor Developed International ETF 0.1 39 36 7.4 +1.3
AVSD Avantis Responsible International Equity ETF 0.1 23 52 5.5 -0.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.1 20 55 6.2 +0.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 10 7.8 +1.7
EFA iShares MSCI EAFE ETF 0.1 35 40 6.5 +0.5
DFSI Dimensional International Sustainability Core 1 ETF 0.1 24 51 6.2 +0.2
IEFA iShares Core MSCI EAFE ETF 0.1 7 68 6.8 +0.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 39 6.2 +0.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 55 6.7 +0.7
AVLV Avantis U.S. Large Cap Value ETF 0.1 15 60 7.7 +1.6
IDEV iShares Core MSCI International Developed Markets ETF 0.1 4 71 6.8 +0.7
DXIV Dimensional International Vector Equity ETF 0.1 34 41 7.7 +1.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.0 25 50 7.0 +0.9
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 36 5.7 -0.4
THRO iShares U.S. Thematic Rotation Active ETF 0.0 90 -15 3.9 -2.2
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 33 5.2 -0.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.0 30 45 6.9 +0.8
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 36 6.6 +0.5
EBI Longview Advantage ETF 0.0 35 40 6.4 +0.4
OAIM OneAscent International Equity ETF 0.0 95 -20 5.5 -0.6

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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 Emerging Markets ex-China ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.6 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 0.56 CATEGORY
AVERAGE		 1.51
 
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.