Franklin FTSE Brazil ETF
ALTAR
Score™		 13.2% info Recommen-
dation		 SPECULATIVE
2024E    2025E
P/E
ratio		 8.8x P/Sales
ratio		 0.8x
P/BV
ratio		 1.2x Div.
yield		 4.5%


  • 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) $162
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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 87
Wgt avg mkt cap (mns) $26,086
Large cap (>$10bn) 61.3%
Mid cap ($2-10bn) 23.9%
Small cap (<$2bn) 2.2%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
VALE SA 11.1 %
PETROBRAS - PETROLEO BRAS-PR 9.8 %
ITAU UNIBANCO HOLDING SA 7.7 %
PETROBRAS - PETROLEO BRAS 7.0 %
WEG SA 3.3 %
BANCO BRADESCO SA-PREF 3.0 %
BM&FBOVESPA SA 2.9 %
ITAUSA-INVESTIMENTOS ITAU SA 2.6 %
AMBEV-SA 2.4 %
CENTRAIS ELETRICAS BRASILIER 2.3 %
Total 52.2 %

TOP COUNTRY EXPOSURE
BRAZIL 90.6 %










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.
-15.9% 2.4% -2.3% -- 1.2%

Market Correlations
versus... Beta R-squared
S&P500 0.94 35%
MSCI EAFE 0.86 30%
MSCI Emg. Mkts. 0.65 17%

Technical Indicators
Recent close $16.70
30d moving avg. $17.62
Annualized volatility 27.6%
Short interest (ETF) 1.2%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 25
Turnover 0.3%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $1,912

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 165 potential alternatives to the Franklin FTSE Brazil ETF 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™: 13.2%


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 ETF 76.0 58 -39 10.4 -2.8
FLLA Franklin FTSE Latin America ETF 57.6 19 0 13.2 -0.0
FBZ First Trust Brazil AlphaDEX Fund 39.3 80 -61 13.3 +0.1
FLN First Trust Latin America AlphaDEX Fund 33.9 80 -61 8.4 -4.7
BRAZ Global X Brazil Active ETF 18.1 75 -56 10.1 -3.1
FTHF First Trust Emerging Markets Human Flourishing ETF 15.2 75 -56 8.9 -4.3
DVYE iShares Emerging Markets Dividend ETF 12.9 49 -30 18.8 +5.6
EMDM First Trust Bloomberg Emerging Market Democracies ETF 12.6 75 -56 8.2 -5.0
ILF iShares Latin America 40 ETF 12.2 48 -29 10.4 -2.8
DEM WisdomTree Emerging Markets High Dividend Fund 11.3 63 -44 18.9 +5.7
PXH Invesco FTSE RAFI Emerging Markets ETF 10.7 49 -30 12.2 -0.9
EEMD AAM S&P Emerging Markets High Dividend Value ETF 9.6 49 -30 16.1 +3.0
FEM First Trust Emerging Markets AlphaDEX Fund 9.4 80 -61 13.0 -0.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 9.1 44 -25 10.6 -2.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.0 39 -20 12.5 -0.7
BKF iShares MSCI BIC ETF 7.1 69 -50 6.9 -6.3
SDEM Global X MSCI SuperDividend Emerging Markets ETF 7.1 67 -48 15.0 +1.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 7.1 45 -26 12.3 -0.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 6.8 29 -10 8.7 -4.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.4 24 -5 9.2 -4.0
RNEM First Trust Emerging Markets Equity Select ETF 6.4 75 -56 7.6 -5.6
EMMF WisdomTree Emerging Markets Multifactor Fund 5.9 48 -29 8.8 -4.4
ICLN iShares Global Clean Energy ETF 5.9 41 -22 6.0 -7.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.9 32 -13 6.9 -6.3
XCEM Columbia EM Core ex-China ETF 5.8 16 3 7.7 -5.5
GVAL Cambria Global Value ETF 5.7 68 -49 13.1 -0.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 5.4 60 -41 13.4 +0.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 5.3 95 -76 10.5 -2.7
STXE Strive Emerging Markets Ex-China ETF 5.1 32 -13 7.0 -6.2
EMXC iShares MSCI Emerging Markets ex China ETF 5.1 25 -6 6.7 -6.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 5.0 88 -69 7.4 -5.7
XCNY SPDR S&P Emerging Markets ex-China ETF 4.9 15 4 6.3 -6.9
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 4.8 18 1 6.8 -6.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 4.7 50 -31 13.0 -0.2
JHEM John Hancock Multifactor Emerging Markets ETF 4.6 49 -30 8.2 -5.0
ECON Columbia Emerging Markets Consumer ETF 4.5 49 -30 7.3 -5.9
EQLT iShares MSCI Emerging Markets Quality Factor ETF 4.4 35 -16 7.4 -5.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 4.2 70 -51 9.2 -4.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 4.1 66 -47 10.0 -3.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 4.1 15 4 7.2 -5.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 4.0 45 -26 11.0 -2.2
SCHE Schwab Emerging Markets Equity ETF 4.0 11 8 7.1 -6.1
NUEM Nuveen ESG Emerging Markets Equity ETF 4.0 36 -17 6.5 -6.7
EVLU iShares MSCI Emerging Markets Value Factor ETF 4.0 35 -16 12.4 -0.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 4.0 36 -17 7.8 -5.4
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 4.0 90 -71 6.1 -7.1
XC WisdomTree Emerging Markets Ex-China Fund 4.0 32 -13 6.0 -7.2
BKEM BNY Mellon Emerging Markets Equity ETF 3.9 11 8 8.4 -4.8
EMM Global X Emerging Markets ex-China ETF 3.8 75 -56 4.2 -8.9
ESGE iShares ESG Aware MSCI EM ETF 3.8 25 -6 7.1 -6.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.8 59 -40 11.3 -1.9
EMGF iShares Emerging Markets Equity Factor ETF 3.7 25 -6 8.5 -4.7
EEM iShares MSCI Emerging Markets ETF 3.7 69 -50 6.9 -6.3
PICK iShares MSCI Global Metals & Mining Producers ETF 3.7 39 -20 12.8 -0.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.7 60 -41 9.8 -3.4
VWO Vanguard FTSE Emerging Markets ETF 3.6 8 11 6.9 -6.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 3.5 15 4 10.2 -3.0
ROAM Hartford Multifactor Emerging Markets ETF 3.4 44 -25 15.8 +2.6
EWZS iShares MSCI Brazil Small-Cap ETF 3.4 59 -40 10.9 -2.3
LDEM iShares ESG MSCI EM Leaders ETF 3.3 17 2 7.6 -5.5
IEMG iShares Core MSCI Emerging Markets ETF 3.3 9 10 7.5 -5.7
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.3 30 -11 7.3 -5.9
EMXF iShares ESG Advanced MSCI EM ETF 3.3 16 3 6.8 -6.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 3.0 32 -13 6.2 -7.0
FRDM Freedom 100 Emerging Markets ETF 3.0 49 -30 7.3 -5.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 3.0 33 -14 8.2 -5.0
DEHP Dimensional Emerging Markets High Profitability ETF 2.9 41 -22 5.0 -8.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 2.9 20 -1 6.8 -6.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.8 30 -11 8.1 -5.1
ICOP iShares Copper and Metals Mining ETF 2.8 47 -28 10.1 -3.1
RNRG Global X Renewable Energy Producers ETF 2.7 66 -47 5.5 -7.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.6 40 -21 8.3 -4.9
DFAE Dimensional Emerging Core Equity Market ETF 2.6 35 -16 7.3 -5.9
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 2.6 46 -27 9.3 -3.8
DSTX Distillate International Fundamental Stability & Value ETF 2.6 55 -36 8.0 -5.2
SDIV Global X Superdividend ETF 2.6 58 -39 14.9 +1.7
EYLD Cambria Emerging Shareholder Yield ETF 2.4 66 -47 13.2 -0.0
DFEM Dimensional Emerging Markets Core Equity 2 ETF 2.4 38 -19 7.8 -5.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.3 58 -39 4.6 -8.6
EMC Global X Emerging Markets Great Consumer ETF 2.3 75 -56 4.5 -8.7
VIDI Vident International Equity Strategy ETF 2.3 61 -42 10.2 -3.0
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 2.3 41 -22 7.4 -5.8
DFEV Dimensional Emerging Markets Value ETF 2.2 43 -24 11.1 -2.1
FILL iShares MSCI Global Energy Producers ETF 2.2 39 -20 9.6 -3.6
FDEM Fidelity Emerging Markets Multifactor ETF 2.0 25 -6 12.3 -0.9
WWJD Inspire International ETF 2.0 80 -61 7.3 -5.9
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.9 58 -39 10.2 -3.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.9 47 -28 9.4 -3.8
EEMO Invesco S&P Emerging Markets Momentum ETF 1.8 29 -10 5.5 -7.7
BLLD JPMorgan Sustainable Infrastructure ETF 1.8 49 -30 5.7 -7.5
CUT Invesco MSCI Global Timber ETF 1.8 61 -42 8.4 -4.8
WOOD iShares Global Timber & Forestry ETF 1.8 42 -23 9.8 -3.4
ERTH Invesco MSCI Sustainable Future ETF 1.8 62 -43 3.6 -9.6
VYMI Vanguard International High Dividend Yield ETF 1.8 22 -3 9.8 -3.4
SPEM SPDR Portfolio Emerging Markets ETF 1.7 7 12 7.3 -5.9
IWTR iShares MSCI Water Management Multisector ETF 1.6 47 -28 5.0 -8.2
BPAY BlackRock Future Financial and Technology ETF 1.6 70 -51 8.2 -5.0
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 1.6 45 -26 5.7 -7.5
AVES Avantis Emerging Markets Value ETF 1.6 36 -17 11.6 -1.6
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 1.5 80 -61 12.3 -0.9
IQDF FlexShares International Quality Dividend Index Fund 1.5 47 -28 12.9 -0.3
CGV Conductor Global Equity Value ETF 1.4 130 -111 10.9 -2.3
AQWA Global X Clean Water ETF 1.4 50 -31 4.2 -9.0
CGW Invesco S&P Global Water Index ETF 1.4 57 -38 4.4 -8.8
PIO Invesco Global Water ETF 1.4 75 -56 5.2 -8.0
EFRA iShares Environmental Infrastructure and Industrials ETF 1.4 47 -28 4.9 -8.3
MOO VanEck Agribusiness ETF 1.3 53 -34 9.7 -3.4
SUPL ProShares Supply Chain Logistics ETF 1.3 58 -39 14.2 +1.0
BNE Blue Horizon BNE ETF 1.3 87 -68 4.6 -8.6
DEW WisdomTree Global High Dividend Fund 1.3 58 -39 8.5 -4.7
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.2 18 1 7.0 -6.2
BRF VanEck Brazil Small-Cap ETF 1.2 66 -47 9.7 -3.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.2 41 -22 7.4 -5.8
CGXU Capital Group International Focus Equity ETF 1.2 54 -35 4.9 -8.3
IQDE FlexShares International Quality Dividend Defensive Index ET 1.2 47 -28 14.8 +1.6
AVEM Avantis Emerging Markets Equity ETF 1.2 33 -14 8.9 -4.3
SCHY Schwab International Dividend Equity ETF 1.2 14 5 9.3 -3.8
ACWX iShares MSCI ACWI ex U.S. ETF 1.1 34 -15 7.0 -6.2
VXUS Vanguard Total International Stock ETF 1.0 7 12 7.2 -6.0
IXUS iShares Core MSCI Total International Stock ETF 1.0 7 12 7.2 -6.0
BLES Inspire Global Hope ETF 1.0 61 -42 6.4 -6.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.9 47 -28 5.5 -7.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.9 8 11 7.3 -5.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.9 30 -11 8.0 -5.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.8 70 -51 7.7 -5.5
JSTC Adasina Social Justice All Cap Global ETF 0.8 89 -70 4.9 -8.3
VEGI iShares MSCI Agriculture Producers ETF 0.8 39 -20 9.2 -4.0
EDIV SPDR S&P Emerging Markets Dividend ETF 0.8 49 -30 12.0 -1.2
MEM Matthews Emerging Markets Equity Active ETF 0.8 79 -60 5.4 -7.8
VSGX Vanguard ESG International Stock ETF 0.7 12 7 6.8 -6.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.7 25 -6 6.6 -6.5
SDG iShares MSCI Global Sustainable Development Goals ETF 0.7 49 -30 5.6 -7.5
EMIF iShares Emerging Markets Infrastructure ETF 0.6 60 -41 8.5 -4.7
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 -11 6.9 -6.2
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.6 60 -41 0.5 -12.7
RODE Hartford Multifactor Diversified International ETF 0.5 29 -10 11.8 -1.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.5 42 -23 8.1 -5.1
BIGFX Baron International Growth Retail 0.5 75 -56 3.1 -10.0
EWX SPDR S&P Emerging Markets Small Cap ETF 0.5 65 -46 8.2 -5.0
GLOF iShares Global Equity Factor ETF 0.5 20 -1 7.0 -6.2
SHPP Pacer Industrials and Logistics ETF 0.5 60 -41 9.9 -3.3
DGT SPDR Global Dow ETF 0.5 50 -31 6.8 -6.4
IGRO iShares International Dividend Growth ETF 0.4 15 4 7.5 -5.6
ACWI iShares MSCI ACWI ETF 0.4 32 -13 5.3 -7.9
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 7 4.8 -8.4
VT Vanguard Total World Stock ETF 0.3 7 12 5.5 -7.7
JXI iShares Global Utilities ETF 0.3 43 -24 5.9 -7.2
FDIG Fidelity Crypto Industry and Digital Payments ETF 0.3 39 -20 -1.7 -14.8
EXI iShares Global Industrials ETF 0.3 42 -23 4.5 -8.7
RWX SPDR Dow Jones International Real Estate ETF 0.3 59 -40 7.4 -5.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 -1 5.2 -8.0
IPAV Global X Infrastructure Development ex-U.S. ETF 0.3 55 -36 9.7 -3.5
CLNR IQ Cleaner Transport ETF 0.3 45 -26 6.8 -6.4
KLMT Invesco MSCI Global Climate 500 ETF 0.3 10 9 5.4 -7.8
IXG iShares Global Financials ETF 0.2 42 -23 6.2 -7.0
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.2 86 -67 1.2 -11.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.2 10 9 7.7 -5.5
VIGI Vanguard International Dividend Appreciation ETF 0.1 15 4 6.4 -6.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.1 86 -67 1.6 -11.5
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 -31 6.1 -7.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 -1 6.3 -6.8
IXJ iShares Global Healthcare ETF 0.1 42 -23 6.5 -6.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 10 5.4 -7.8
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 7 8.3 -4.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 7 12 6.7 -6.5

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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 ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.0 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 13.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.51 CATEGORY
AVERAGE		 1.48
 
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.