Franklin FTSE Brazil ETF
ALTAR
Score™		 6.0% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 26.4x P/Sales
ratio		 1.5x
P/BV
ratio		 1.6x Div.
yield		 2.8%


  • 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) $120
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 92
Wgt avg mkt cap (mns) $14,782
Large cap (>$10bn) 47.5%
Mid cap ($2-10bn) 31.0%
Small cap (<$2bn) 7.6%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
VALE SA 11.2 %
ITAU UNIBANCO HOLDING SA 6.7 %
PETROBRAS - PETROLEO BRAS-PR 5.9 %
BM&FBOVESPA SA 5.6 %
BANCO BRADESCO SA-PREF 5.2 %
PETROBRAS - PETROLEO BRAS 4.7 %
AMBEV-SA 3.3 %
MAGAZINE LUIZA SA 2.6 %
ITAUSA-INVESTIMENTOS ITAU-PR 2.4 %
WEG SA 1.9 %
Total 49.4 %

TOP COUNTRY EXPOSURE
BRAZIL 96.7 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-42.9% -33.5% -- -- -10.7%

Market Correlations
versus... Beta R-squared
S&P500 1.07 24%
MSCI EAFE 1.50 40%
MSCI Emg. Mkts. 1.31 45%

Technical Indicators
Recent close $16.90
30d moving avg. $14.90
Annualized volatility 40.4%
Short interest (ETF) 0.3%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 22
Turnover 0.3%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $3,443

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™: 6.0%


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
(%)
EWZ iShares MSCI Brazil Capped ETF 85.5 59 -40 5.3 -0.6
FLLA Franklin FTSE Latin America ETF 63.1 19 0 7.5 +1.6
FBZ First Trust Brazil AlphaDEX Fund 37.3 80 -61 6.2 +0.3
FLN First Trust Latin America AlphaDEX Fund 29.2 80 -61 8.7 +2.7
BICK First Trust BICK Index Fund 12.0 64 -45 4.7 -1.3
ILF iShares Latin America 40 ETF 12.0 48 -29 7.9 +1.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.5 45 -26 9.2 +3.3
XCEM Columbia EM Core ex-China ETF 9.1 16 3 8.1 +2.2
BKF iShares MSCI BRIC ETF 9.0 69 -50 8.7 +2.8
PXH Invesco FTSE RAFI Emerging Markets ETF 8.6 50 -31 14.1 +8.2
EEMO Invesco S&P Emerging Markets Momentum ETF 8.5 30 -11 7.4 +1.4
RNEM Emerging Markets Equity Select ETF 8.4 75 -56 10.8 +4.9
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 8.3 49 -30 8.6 +2.7
EMXC iShares MSCI Emerging Markets ex China ETF 8.2 49 -30 8.7 +2.8
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 8.1 45 -26 10.3 +4.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 7.5 39 -20 13.5 +7.6
GVAL Cambria Global Value ETF 7.5 69 -50 11.5 +5.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 7.1 49 -30 9.3 +3.4
FEM First Trust Emerging Markets AlphaDEX Fund 6.8 80 -61 12.0 +6.1
EWZS iShares MSCI Brazil Small-Cap ETF 6.6 59 -40 5.7 -0.2
DVEM WisdomTree Emerging Markets Dividend Fund 6.3 32 -13 9.4 +3.4
PICK iShares MSCI Global Metals & Mining Producers ETF 6.2 39 -20 7.8 +1.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 6.1 14 5 9.8 +3.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 6.1 45 -26 9.0 +3.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 6.0 95 -76 10.5 +4.5
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 6.0 45 -26 13.9 +7.9
JHEM John Hancock Multifactor Emerging Markets ETF 5.9 55 -36 9.2 +3.2
EMCG WisdomTree Emerging Markets Consumer Growth Fund 5.8 32 -13 7.9 +2.0
SCHE Schwab Emerging Markets Equity ETF 5.7 13 6 9.0 +3.0
ISEM Invesco Strategic Emerging Markets ETF 5.7 35 -16 10.7 +4.8
NUEM Nuveen ESG Emerging Markets Equity ETF 5.3 45 -26 8.1 +2.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.2 32 -13 9.8 +3.9
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 5.1 64 -45 5.4 -0.5
EEM iShares MSCI Emerging Markets ETF 5.0 68 -49 8.6 +2.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 4.9 65 -46 8.6 +2.6
ROAM Hartford Multifactor Emerging Markets ETF 4.9 44 -25 15.5 +9.5
IEMG iShares Core MSCI Emerging Markets ETF 4.8 14 5 9.0 +3.0
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 4.8 50 -31 10.2 +4.2
VWO Vanguard FTSE Emerging Markets ETF 4.8 10 9 9.1 +3.1
ECON Columbia Emerging Markets Consumer ETF 4.6 59 -40 5.1 -0.9
ESGE iShares ESG MSCI EM ETF 4.4 25 -6 10.0 +4.0
SDEM Global X SuperDividend Emerging Markets ETF 4.4 67 -48 23.6 +17.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 4.3 30 -11 9.1 +3.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 4.3 20 -1 7.9 +2.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.1 40 -21 8.1 +2.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 4.0 32 -13 7.0 +1.1
EMMF WisdomTree Emerging Markets Multifactor Fund 3.8 48 -29 10.0 +4.1
DVYE iShares Emerging Markets Dividend ETF 3.7 49 -30 13.4 +7.4
FDEM Fidelity Targeted Emerging Markets Factor ETF 3.6 45 -26 10.0 +4.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 3.6 70 -51 13.4 +7.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 3.6 69 -50 7.8 +1.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.5 59 -40 11.5 +5.5
BRF VanEck Vectors Brazil Small-Cap ETF 3.3 60 -41 4.1 -1.9
GUNR Flexshares Morningstar Global Upstream Natural Resources 3.1 46 -27 6.1 +0.2
AVEM Avantis Emerging Markets Equity ETF 3.0 33 -14 9.9 +3.9
BLES Inspire Global Hope Large Cap ETF 2.8 61 -42 6.6 +0.6
DEM WisdomTree Emerging Markets High Dividend Fund 2.8 63 -44 14.5 +8.5
WOOD iShares Global Timber & Forestry ETF 2.7 46 -27 10.3 +4.3
CUT Invesco MSCI Global Timber ETF 2.7 55 -36 9.4 +3.4
KMED KraneShares Emerging Markets Healthcare Index ETF 2.7 79 -60 2.5 -3.5
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.7 60 -41 10.8 +4.9
SPEM SPDR Portfolio Emerging Markets ETF 2.7 11 8 8.9 +2.9
EEMD AAM S&P Emerging Markets High Dividend Value ETF 2.3 50 -31 21.6 +15.7
PIE Invesco DWA Emerging Markets Momentum ETF 2.3 90 -71 5.8 -0.1
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.3 63 -44 13.6 +7.6
VIDI Vident International Equity Fund 2.2 59 -40 11.8 +5.9
IPOS Renaissance International IPO ETF 2.2 80 -61 5.2 -0.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.2 30 -11 9.7 +3.7
FILL iShares MSCI Global Energy Producers ETF 2.1 39 -20 6.3 +0.3
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 1.7 25 -6 8.6 +2.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 1.5 80 -61 1.8 -4.2
MOO VanEck Vectors Agribusiness ETF 1.4 54 -35 5.7 -0.2
ACWX iShares MSCI ACWI ex U.S. ETF 1.4 32 -13 7.7 +1.8
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 1.3 51 -32 13.8 +7.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.3 40 -21 7.6 +1.7
IXUS ishares Core MSCI Total International Stock ETF 1.3 9 10 7.8 +1.8
VXUS Vanguard Total International Stock Index Fund 1.2 8 11 7.9 +2.0
VYMI Vanguard International High Dividend Yield ETF 1.2 32 -13 10.6 +4.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 1.2 16 3 7.3 +1.4
VSGX Vanguard ESG International Stock ETF 1.1 17 2 7.6 +1.7
PIO Invesco Global Water ETF 1.1 75 -56 4.2 -1.8
XBUY Amplify International Online Retail ETF 1.1 69 -50 -1.1 -7.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 1.0 47 -28 13.1 +7.2
ACWF iShares FactorSelect MSCI Global ETF 1.0 35 -16 8.2 +2.3
VEU Vanguard FTSE All-World ex-US Index Fund 1.0 8 11 8.0 +2.0
EMIF iShares Emerging Markets Infrastructure ETF 1.0 75 -56 8.3 +2.4
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 -28 13.4 +7.4
LVIN Hartford Multifactor Low Volatility International Equity ETF 0.8 29 -10 12.6 +6.7
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.8 86 -67 2.4 -3.5
GLIF AGFiQ Global Infrastructure ETF 0.8 45 -26 5.1 -0.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 -28 14.0 +8.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 0.7 20 -1 11.3 +5.3
DNL WisdomTree Global ex-US Dividend Growth Fund 0.7 58 -39 8.0 +2.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.6 65 -46 7.1 +1.2
RWX SPDR Dow Jones International Real Estate ETF 0.6 59 -40 7.1 +1.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.6 29 -10 10.1 +4.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.6 20 -1 6.5 +0.6
IXG iShares Global Financials ETF 0.6 46 -27 10.2 +4.2
ACWI iShares MSCI ACWI ETF 0.6 32 -13 6.2 +0.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.6 20 -1 6.5 +0.5

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

  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:

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 9.7 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 CATEGORY
AVERAGE		 1.45
 
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.