Franklin FTSE Brazil
ALTAR
Score™
5.6% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
19.1x P/Sales
ratio
1.5x
P/BV
ratio
1.9x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Franklin FTSE Brazil ETF tracks a market-cap-weighted index of Brazilian large- and midcap stocks.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Franklin Templeton
Website www.libertyshares.com
Inception date Nov 03, 2017
Assets (mns) $16
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 77
Wgt avg mkt cap (mns) $30,587
Large cap (>$10bn) 54.9%
Mid cap ($2-10bn) 31.0%
Small cap (<$2bn) 2.9%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
ITAU UNIBANCO HOLDING SA 9.2 %
VALE SA 9.0 %
BANCO BRADESCO SA-PREF 7.4 %
PETROBRAS - PETROLEO BRAS-PR 6.3 %
BM&FBOVESPA SA 5.3 %
PETROBRAS - PETROLEO BRAS 5.2 %
ITAUSA-INVESTIMENTOS ITAU-PR 4.6 %
AMBEV-SA 4.1 %
BANCO DO BRASIL SA 2.2 %
LOJAS RENNER S.A. 2.1 %
Total 55.3 %

TOP COUNTRY EXPOSURE
BRAZIL 99.7 %










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.
18.5% 14.0% -- -- 11.0%

Market Correlations
versus... Beta R-squared
S&P500 0.34 2%
MSCI EAFE 0.75 9%
MSCI Emg. Mkts. 0.85 18%

Technical Indicators
Recent close $26.63
30d moving avg. $26.78
Annualized volatility 31.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $2,300

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FLBR Expense: 19 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLBR
Ticker Fund
Name
Overlap1
vs FLBR
(%)
Expense
ratio
(bp)
Savings
vs FLBR
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLBR
(%)
EWZ iShares MSCI Brazil 89.4 59 -40 5.3 -0.4
FLLA Franklin FTSE Latin America 65.4 19 0 6.2 +0.6
FBZ First Trust Brazil AlphaDEX 33.4 80 -61 7.9 +2.2
FLN First Trust Latin America AlphaDEX 28.1 80 -61 5.5 -0.2
EEMO Invesco S&P Emg Mkts Momentum 26.8 30 -11 8.1 +2.5
BICK First Trust BICK Index Fund 15.1 64 -45 6.1 +0.5
FEM First Trust Emerging Markets AlphaDEX 14.7 80 -61 11.0 +5.3
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 14.4 45 -26 8.8 +3.2
ILF iShares S&P Latin America 40 14.1 48 -29 6.5 +0.8
BKF iShares MSCI BRIC 14.0 67 -48 8.8 +3.2
PXH Invesco FTSE-RAFI Emerging Markets 12.7 50 -31 12.5 +6.9
EMGF iShares Edge MSCI Multifactor Emerging Markets 11.9 45 -26 10.1 +4.5
XCEM Columbia EM Core ex-China 11.4 16 3 7.7 +2.0
DEMG Xtrackers FTSE Emerging Comprehensive Factor 11.4 50 -31 9.6 +4.0
KEMX KraneShares MSCI Emerging Markets EX China Index 11.2 49 -30 8.7 +3.1
EMXC iShares MSCI Emerging Markets ex China 10.9 49 -30 8.7 +3.1
FNDE Schwab Fundamental Emg Mkt Large Cap 10.6 39 -20 11.1 +5.5
RFEM First Trust Riverfront Dynamic Emerging Markets 9.5 95 -76 10.8 +5.1
GVAL Cambria Global Value 9.1 69 -50 9.2 +3.6
EMMF WisdomTree Emerging Markets Multifactor Fund 8.8 48 -29 10.0 +4.4

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:
Franklin FTSE Brazil
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 10.5 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.49
 
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.