Franklin FTSE Brazil ETF
ALTAR
Score™		 5.0% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 43.5x P/Sales
ratio		 1.5x
P/BV
ratio		 2.1x Div.
yield		 2.0%


  • 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) $115
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 94
Wgt avg mkt cap (mns) $21,034
Large cap (>$10bn) 46.3%
Mid cap ($2-10bn) 29.0%
Small cap (<$2bn) 7.1%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
VALE SA 13.5 %
ITAU UNIBANCO HOLDING SA 6.5 %
PETROBRAS - PETROLEO BRAS-PR 5.7 %
BM&FBOVESPA SA 5.4 %
BANCO BRADESCO SA-PREF 4.9 %
PETROBRAS - PETROLEO BRAS 4.7 %
AMBEV-SA 3.1 %
MAGAZINE LUIZA SA 3.0 %
WEG SA 3.0 %
ITAUSA-INVESTIMENTOS ITAU-PR 2.3 %
Total 52.1 %

TOP COUNTRY EXPOSURE
BRAZIL 98.1 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.1% -20.1% -- -- 1.8%

Market Correlations
versus... Beta R-squared
S&P500 1.17 29%
MSCI EAFE 1.48 45%
MSCI Emg. Mkts. 1.38 50%

Technical Indicators
Recent close $22.19
30d moving avg. $22.81
Annualized volatility 41.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.1%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $4,582

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.0%


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
(%)
DFAE Dimensional Emerging Core Equity Market ETF 87.9 35 -16 6.9 +1.8
EWZ iShares MSCI Brazil Capped ETF 86.5 59 -40 4.2 -0.8
FLLA Franklin FTSE Latin America ETF 64.6 19 0 6.1 +1.1
FBZ First Trust Brazil AlphaDEX Fund 40.7 80 -61 7.1 +2.1
FLN First Trust Latin America AlphaDEX Fund 31.9 80 -61 9.8 +4.8
ILF iShares Latin America 40 ETF 17.6 48 -29 5.4 +0.4
BICK First Trust BICK Index Fund 15.0 64 -45 3.2 -1.8
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF 11.0 44 -25 8.1 +3.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.6 39 -20 11.5 +6.4
DEM WisdomTree Emerging Markets High Dividend Fund 9.1 63 -44 12.8 +7.8
PXH Invesco FTSE RAFI Emerging Markets ETF 9.1 50 -31 11.4 +6.4
ISEM Invesco RAFI Strategic Emerging Markets ETF 8.7 35 -16 8.7 +3.7
XCEM Columbia EM Core ex-China ETF 8.6 16 3 5.9 +0.9
BKF iShares MSCI BRIC ETF 8.2 70 -51 6.1 +1.1
RNEM First Trust Emerging Markets Equity Select ETF 8.1 75 -56 10.1 +5.0
PICK iShares MSCI Global Metals & Mining Producers ETF 7.7 39 -20 5.4 +0.3
EMXC iShares MSCI Emerging Markets ex China ETF 7.7 25 -6 6.5 +1.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 7.5 25 -6 6.2 +1.2
EWZS iShares MSCI Brazil Small-Cap ETF 7.3 59 -40 4.9 -0.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 6.1 49 -30 7.5 +2.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 5.9 45 -26 6.3 +1.2
FEM First Trust Emerging Markets AlphaDEX Fund 5.8 80 -61 10.3 +5.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 5.7 15 4 7.2 +2.2
DVYE iShares Emerging Markets Dividend ETF 5.4 49 -30 16.5 +11.4
PIE Invesco DWA Emerging Markets Momentum ETF 5.3 90 -71 1.8 -3.2
SCHE Schwab Emerging Markets Equity ETF 5.3 11 8 6.7 +1.6
EMXF iShares ESG Advanced MSCI EM ETF 5.1 16 3 7.1 +2.0
JHEM John Hancock Multifactor Emerging Markets ETF 5.1 49 -30 7.3 +2.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 4.9 36 -17 6.7 +1.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 4.8 45 -26 11.9 +6.9
LDEM iShares ESG MSCI EM Leaders ETF 4.7 16 3 6.3 +1.3
EEM iShares MSCI Emerging Markets ETF 4.6 70 -51 5.9 +0.9
CEZ VictoryShares Emerging Market Volatility Wtd ETF 4.5 50 -31 9.4 +4.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 4.5 65 -46 5.9 +0.9
VWO Vanguard FTSE Emerging Markets ETF 4.5 10 9 6.9 +1.9
IEMG iShares Core MSCI Emerging Markets ETF 4.5 11 8 6.5 +1.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 4.4 32 -13 7.4 +2.4
FDEM Fidelity Emerging Markets Multifactor ETF 4.3 45 -26 7.7 +2.7
BRF VanEck Vectors Brazil Small-Cap ETF 4.3 63 -44 2.1 -2.9
BKEM BNY Mellon Emerging Markets Equity ETF 4.1 11 8 6.6 +1.6
ROAM Hartford Multifactor Emerging Markets ETF 4.1 44 -25 11.4 +6.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.9 59 -40 10.4 +5.4
ESGE iShares ESG Aware MSCI EM ETF 3.8 25 -6 6.9 +1.9
NUEM Nuveen ESG Emerging Markets Equity ETF 3.8 45 -26 5.4 +0.3
RESE WisdomTree Emerging Markets ESG Fund 3.7 32 -13 6.6 +1.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.6 30 -11 6.3 +1.3
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 3.6 20 -1 5.4 +0.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 3.6 32 -13 5.0 -0.0
ECON Columbia Emerging Markets Consumer ETF 3.4 59 -40 4.7 -0.3
EMGF iShares MSCI Emerging Markets Multifactor ETF 3.3 45 -26 8.5 +3.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 3.2 71 -52 7.2 +2.2
KMED KraneShares Emerging Markets Healthcare Index ETF 3.2 79 -60 2.1 -2.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.1 95 -76 7.0 +2.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.0 46 -27 5.0 -0.0
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.9 74 -55 9.7 +4.7
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.9 66 -47 16.3 +11.2
CUT Invesco MSCI Global Timber ETF 2.8 61 -42 7.1 +2.1
FILL iShares MSCI Global Energy Producers ETF 2.7 39 -20 5.5 +0.4
EWEB Global X Emerging Markets Internet & E-commerce ETF 2.7 65 -46 2.5 -2.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.6 63 -44 11.1 +6.1
EEMO Invesco S&P Emerging Markets Momentum ETF 2.6 29 -10 3.3 -1.7
WOOD iShares Global Timber & Forestry ETF 2.5 46 -27 7.7 +2.7
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 2.5 51 -32 18.5 +13.5
BLES Inspire Global Hope Large Cap ETF 2.5 52 -33 5.5 +0.5
SPEM SPDR Portfolio Emerging Markets ETF 2.4 11 8 6.5 +1.5
FPXI First Trust International Equity Opportunities ETF 2.3 70 -51 3.7 -1.3
AVEM Avantis Emerging Markets Equity ETF 2.3 33 -14 7.2 +2.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.2 47 -28 8.0 +3.0
EWX SPDR S&P Emerging Markets Small Cap ETF 2.2 65 -46 6.1 +1.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.2 60 -41 8.7 +3.7
VYMI Vanguard International High Dividend Yield ETF 2.1 27 -8 8.9 +3.9
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 2.0 80 -61 9.2 +4.2
VIDI Vident International Equity Fund 2.0 59 -40 9.6 +4.6
SDIV Global X SuperDividend ETF 2.0 59 -40 11.6 +6.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 2.0 20 -1 9.4 +4.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.7 61 -42 7.7 +2.6
IQDF FlexShares International Quality Dividend Index Fund 1.6 47 -28 7.8 +2.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.5 30 -11 7.5 +2.5
ACWX iShares MSCI ACWI ex U.S. ETF 1.5 32 -13 6.3 +1.2
VSGX Vanguard ESG International Stock ETF 1.5 17 2 6.3 +1.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.5 40 -21 6.0 +1.0
IXUS ishares Core MSCI Total International Stock ETF 1.4 9 10 6.4 +1.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.4 86 -67 2.1 -2.9
BNE Blue Horizon BNE ETF 1.4 87 -68 0.9 -4.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 1.3 40 -21 6.0 +1.0
EEMD AAM S&P Emerging Markets High Dividend Value ETF 1.2 50 -31 16.0 +11.0
MOO VanEck Vectors Agribusiness ETF 1.2 56 -37 4.5 -0.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 1.2 16 3 5.9 +0.9
VXUS Vanguard Total International Stock ETF 1.2 8 11 6.5 +1.5
VEU Vanguard FTSE All-World ex-US Index Fund 1.1 8 11 6.6 +1.6
JIG JPMorgan International Growth ETF 1.0 55 -36 2.5 -2.6
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 1.0 60 -41 2.3 -2.7
BTEK BlackRock Future Tech ETF 1.0 88 -69 -0.2 -5.2
DEW WisdomTree Global High Dividend Fund 0.9 58 -39 8.7 +3.7
XBUY Amplify International Online Retail ETF 0.8 69 -50 0.5 -4.5
IQDE FlexShares International Quality Dividend Defensive Index ET 0.7 47 -28 7.8 +2.7
EMIF iShares Emerging Markets Infrastructure ETF 0.6 60 -41 8.8 +3.7
ACWI iShares MSCI ACWI ETF 0.6 32 -13 5.0 +0.0
GLIF AGFiQ Global Infrastructure ETF 0.6 45 -26 4.8 -0.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.6 20 -1 5.3 +0.3

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 Brazil ETF
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 10.5 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.39
 
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.