Global X FinTech Thematic
ALTAR
Score™
3.3% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
36.4x P/Sales
ratio
5.1x
P/BV
ratio
6.1x Div.
yield
0.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X FinTech Thematic ETF tracks a market-cap-weighted index of companies in developed markets that derive significant revenues from providing financial technology products and services.

FUND BASICS
Category Global Equities
Fund Sponsor Global X
Website www.globalxfunds.com
Inception date Sep 12, 2016
Assets (mns) $410
Currency USD
Expense ratio 68 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 33
Wgt avg mkt cap (mns) $26,963
Large cap (>$10bn) 57.8%
Mid cap ($2-10bn) 34.9%
Small cap (<$2bn) 7.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FISERV INC 14.0 %
FIDELITY NATIONAL INFORMATIO 6.2 %
ADYEN NV 5.6 %
INTUIT INC 5.3 %
XERO LIMITED 5.3 %
GUIDEWIRE SOFTWARE INC 5.2 %
SQUARE, INC. CLASS A 5.1 %
PAYPAL HOLDINGS INC 4.9 %
BLACK KNIGHT FINANCIAL SERVICES, I 4.8 %
SS&C TECHNOLOGIES HOLDINGS 4.8 %
Total 61.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 63.4 %
BRAZIL 6.9 %
NETHERLANDS 5.6 %
GERMANY 5.5 %
NEW ZEALAND 5.3 %
AUSTRALIA 4.5 %
SWITZERLAND 4.4 %
DENMARK 3.0 %
JAPAN 0.3 %
CHINA 0.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
38.2% 24.5% -- -- 26.9%

Market Correlations
versus... Beta R-squared
S&P500 1.22 63%
MSCI EAFE 1.04 39%
MSCI Emg. Mkts. 0.75 32%

Technical Indicators
Recent close $30.04
30d moving avg. $29.32
Annualized volatility 18.5%
Short interest (ETF) 0.8%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 82
Turnover 0.6%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $3,514

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the Global X FinTech Thematic ETF based on the alternatives' overlap in portfolio holdings with FINX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FINX Expense: 68 bp ALTAR Score™: 3.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FINX
Ticker Fund
Name
Overlap1
vs FINX
(%)
Expense
ratio
(bp)
Savings
vs FINX
(bp)
ALTAR
Score™
(%)
ALTAR
vs FINX
(%)
TPAY Tortoise Digital Payments Infrastructure Fund 33.2 40 28 5.1 +1.9
IPAY ETFMG Prime Mobile Payments 32.2 75 -7 5.9 +2.6
GFIN Goldman Sachs Motif Finance Reimagined 20.6 50 18 4.8 +1.6
ARKF ARK Fintech Innovation 18.6 75 -7 1.8 -1.5
LEND Amplify CrowdBureau Peer to Peer Lending & Crowdfunding 18.4 65 3 14.1 +10.9
DTEC ALPS Disruptive Technologies 14.8 50 18 3.4 +0.2
GIGE SoFi Gig Economy 12.2 59 9 0.4 -2.9
MILN Global X Millennials Thematic 11.9 50 18 2.9 -0.3
FPX First Trust US IPO 10.3 59 9 5.4 +2.2
ARKW ARK Web x.O 9.3 75 -7 -0.8 -4.0
XNTK SPDR NYSE Technology 8.4 35 33 5.6 +2.4
KOIN Innovation Shares NextGen Protocol 8.1 95 -27 4.7 +1.4
ARKK ARK Innovation 8.1 75 -7 -4.4 -7.6
IYJ iShares DJ US Industrials 8.1 42 26 5.4 +2.1
IGV iShares N. American Tech-Software 7.8 46 22 3.1 -0.2
XSW SPDR S&P Software & Services 6.9 35 33 4.1 +0.8
SHE SPDR SSGA Gender Diversity 6.4 20 48 6.2 +2.9
GVIP Goldman Sachs Hedge Industry VIP 5.9 45 23 5.4 +2.1
FTEC Fidelity MSCI Info Technology 5.8 8 60 5.5 +2.2

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 FinTech Thematic
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.1 %
Divided by: Fwd. P/BV 5.1 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 3.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.55
 
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.