Franklin FTSE Asia Ex Japan ETF
ALTAR
Score™
8.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
12.6x P/Sales
ratio
1.1x
P/BV
ratio
1.4x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Franklin FTSE Asia ex Japan ETF tracks a market-cap-weighted index of large- and midcap stocks from developed and emerging Asian countries, excluding Japan.

FUND BASICS
Category International Equities
Fund Sponsor Franklin Templeton Investments
Website www.libertyshares.com
Inception date Feb 06, 2018
Assets (mns) $17
Currency USD
Expense ratio 19 bp
Distributions Semi-annual

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 1469
Wgt avg mkt cap (mns) $128,959
Large cap (>$10bn) 76.4%
Mid cap ($2-10bn) 21.0%
Small cap (<$2bn) 2.3%
Developed mkts 21.7%
Emerging mkts 78.3%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.1 %
TENCENT HOLDINGS LTD 5.6 %
TAIWAN SEMICONDUCTOR MANUFAC 4.9 %
SAMSUNG ELECTRONICS CO LTD 4.4 %
AIA GROUP LTD 2.4 %
CHINA CONSTRUCTION BANK-H 1.5 %
RELIANCE INDUSTRIES LTD 1.2 %
PING AN INSURANCE GROUP CO-H 1.2 %
HOUSING DEVELOPMENT FINANCE 1.1 %
IND & COMM BK OF CHINA - H 1.1 %
Total 30.4 %

TOP COUNTRY EXPOSURE
CHINA 34.7 %
HONG KONG 14.3 %
SOUTH KOREA 13.3 %
TAIWAN 13.3 %
INDIA 10.8 %
SINGAPORE 3.7 %
THAILAND 2.9 %
MALAYSIA 2.5 %
INDONESIA 2.1 %
PHILIPPINES 1.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.0% 2.2% -- -- -4.0%

Market Correlations
versus... Beta R-squared
S&P500 0.92 60%
MSCI EAFE 1.17 75%
MSCI Emg. Mkts. 1.02 93%

Technical Indicators
Recent close $21.13
30d moving avg. $22.28
Annualized volatility 16.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.3%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $63,081

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Franklin FTSE Asia Ex Japan ETF ETF based on the alternatives' overlap in portfolio holdings with FLAX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLAX Expense: 19 bp ALTAR Score™: 8.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLAX
Ticker Fund
Name
Overlap1
vs FLAX
(%)
Expense
ratio
(bp)
Savings
vs FLAX
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLAX
(%)
AAXJ iShares MSCI All Country Asia ex Japan ETF 91.5 68 -49 8.1 -0.5
EEMA iShares MSCI Emerging Markets Asia ETF 80.2 50 -31 8.7 +0.1
EEM iShares MSCI Emerging Markets ETF 70.3 68 -49 8.6 +0.1
SCHE Schwab Emerging Markets Equity ETF 68.2 13 6 8.7 +0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 66.2 65 -46 8.6 +0.0
IEMG iShares Core MSCI Emerging Markets ETF 64.1 14 5 9.0 +0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 61.5 30 -11 8.8 +0.2
JHEM John Hancock Multifactor Emerging Markets ETF 60.9 55 -36 9.2 +0.6
VWO Vanguard FTSE Emerging Markets ETF 58.1 10 9 9.0 +0.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 57.7 14 5 9.4 +0.8
GMF SPDR S&P Emerging Asia Pacific ETF 56.2 49 -30 8.1 -0.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 54.8 32 -13 7.1 -1.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 50.6 45 -26 9.2 +0.6
SPEM SPDR Portfolio Emerging Markets ETF 47.4 11 8 8.8 +0.3
BKF iShares MSCI BRIC ETF 47.3 69 -50 8.8 +0.2
ESGE iShares ESG MSCI EM ETF 46.9 25 -6 9.4 +0.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 45.6 59 -40 14.3 +5.7
DVEM WisdomTree Emerging Markets Dividend Fund 44.1 32 -13 12.5 +3.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 43.4 20 -1 7.8 -0.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 41.5 30 -11 9.4 +0.8

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:
Franklin FTSE Asia Ex Japan ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.7 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 8.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.64
 
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.