Franklin FTSE Hong Kong ETF
ALTAR
Score™
8.0% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
19.8x P/Sales
ratio
2.1x
P/BV
ratio
1.0x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FLHK offers market-cap-based exposure to large- and midcap Hong Kong equities

FUND BASICS
Category International Equities
Fund Sponsor Franklin Templeton
Website www.libertyshares.com
Inception date Nov 02, 2017
Assets (mns) $18
Currency USD
Expense ratio 9 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) $41,199
Large cap (>$10bn) 81.0%
Mid cap ($2-10bn) 16.0%
Small cap (<$2bn) 2.1%
Developed mkts 93.7%
Emerging mkts 6.3%

TOP TEN HOLDINGS
AIA GROUP LTD 19.4 %
HONG KONG EXCHANGES & CLEAR 12.2 %
SUN HUNG KAI PROPERTIES 3.4 %
CK HUTCHISON HOLDINGS LTD 3.4 %
LINK REIT 3.2 %
CLP HOLDINGS LTD 3.1 %
GALAXY ENTERTAINMENT GROUP L 2.9 %
HONG KONG & CHINA GAS 2.8 %
CK ASSET HOLDINGS LIMITED 2.8 %
TECHTRONIC INDUSTRIES CO 2.6 %
Total 55.9 %

TOP COUNTRY EXPOSURE
HONG KONG 86.9 %
CHINA 6.6 %
MACAU 2.5 %
BERMUDA 1.6 %
ITALY 0.4 %
LUXEMBOURG 0.4 %
CAMBODIA 0.3 %
SINGAPORE 0.2 %
TAIWAN 0.1 %
UNITED STATES 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-10.0% -10.3% -- -- -2.8%

Market Correlations
versus... Beta R-squared
S&P500 0.72 44%
MSCI EAFE 0.88 55%
MSCI Emg. Mkts. 0.79 73%

Technical Indicators
Recent close $23.59
30d moving avg. $23.10
Annualized volatility 19.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.1%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $2,253

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Franklin FTSE Hong Kong ETF ETF based on the alternatives' overlap in portfolio holdings with FLHK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLHK Expense: 9 bp ALTAR Score™: 8.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLHK
Ticker Fund
Name
Overlap1
vs FLHK
(%)
Expense
ratio
(bp)
Savings
vs FLHK
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLHK
(%)
EWH iShares MSCI Hong Kong ETF 80.4 49 -40 6.8 -1.2
ZHOK SPDR Solactive Hong Kong ETF 74.9 14 -5 6.8 -1.2
EPP iShares MSCI Pacific ex-Japan ETF 27.1 48 -39 6.5 -1.5
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 25.5 19 -10 6.8 -1.2
SCIX Global X Scientific Beta Asia ex-Japan ETF 25.2 38 -29 6.6 -1.4
FHK First Trust Hong Kong AlphaDEX Fund 21.6 80 -71 8.9 +0.9
DVYA iShares Asia/Pacific Dividend ETF 14.9 49 -40 12.8 +4.8
AIA iShares Asia 50 ETF 14.3 50 -41 7.9 -0.1
IFGL iShares International Developed Real Estate ETF 12.5 48 -39 7.7 -0.3
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 12.5 30 -21 8.5 +0.5
DRW WisdomTree Global ex-US Real Estate Fund 12.0 58 -49 10.6 +2.6
WPS iShares International Developed Property ETF 11.4 48 -39 7.9 -0.1
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 10.3 80 -71 6.5 -1.5
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 9.7 10 -1 9.2 +1.2
FLAX Franklin FTSE Asia Ex Japan ETF 9.0 19 -10 7.6 -0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 8.5 68 -59 7.0 -1.0
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 8.5 80 -71 7.3 -0.7
IDV iShares International Select Dividend ETF 8.3 49 -40 10.0 +2.0
VNQI Vanguard Global ex-US Real Estate Index Fund 8.1 12 -3 10.1 +2.1
IPAC iShares Core MSCI Pacific ETF 7.8 9 0 7.2 -0.8
VPL Vanguard FTSE Pacific ETF 7.4 8 1 7.5 -0.5
GQRE FlexShares Global Quality Real Estate Index Fund 7.2 45 -36 6.9 -1.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 6.7 50 -41 6.0 -2.0
FID First Trust S&P International Dividend Aristocrats ETF 6.7 60 -51 9.3 +1.3
FGD First Trust Dow Jones Global Select Dividend Index Fund 6.5 59 -50 10.9 +2.9
WDIV SPDR Global Dividend ETF 6.4 40 -31 9.4 +1.4
BJK VanEck Vectors Gaming ETF 6.4 66 -57 5.0 -3.0
IDLV Invesco S&P International Developed Low Volatility ETF 6.4 25 -16 6.7 -1.3
IQLT iShares Edge MSCI Intl Quality Factor ETF 6.4 30 -21 6.0 -2.0
EFAV iShares Edge MSCI Min Vol EAFE ETF 6.3 20 -11 5.4 -2.6
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 6.3 83 -74 5.3 -2.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 6.2 20 -11 9.4 +1.4
JPIN JPMorgan Diversified Return International Equity ETF 6.0 37 -28 7.8 -0.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 5.9 32 -23 6.3 -1.7
GCOW Pacer Global High Dividend ETF 5.9 60 -51 10.2 +2.2
VGFO Virtus WMC Global Factor Opportunities ETF 5.8 49 -40 7.8 -0.2
FIDI Fidelity International High Dividend ETF 5.8 39 -30 11.0 +3.1
RWX SPDR Dow Jones International Real Estate ETF 5.7 59 -50 6.8 -1.2
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 5.7 60 -51 7.2 -0.8
DWMF WisdomTree International Multifactor Fund 5.6 38 -29 6.6 -1.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 5.5 45 -36 7.0 -1.0
MOTI VanEck Vectors Morningstar International Moat ETF 5.4 57 -48 8.4 +0.4
CHIK Global X MSCI China Information Technology ETF 5.2 66 -57 7.9 -0.1
TPIF Timothy Plan International ETF 5.0 62 -53 6.2 -1.8
LVHI Legg Mason International Low Volatility High Dividend ETF 4.7 40 -31 9.0 +1.1
CHIS Global X MSCI China Consumer Staples ETF 4.7 67 -58 3.2 -4.8
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 4.4 45 -36 9.8 +1.8
DWX SPDR S&P International Dividend ETF 4.4 45 -36 7.6 -0.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 4.3 29 -20 7.6 -0.4
FIVA Fidelity International Value Factor ETF 4.2 39 -30 9.8 +1.8
IDOG ALPS International Sector Dividend Dogs ETF 4.1 50 -41 10.6 +2.6
IDY Pacific Global International Equity Income ETF 4.0 39 -30 7.9 -0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 3.9 30 -21 6.8 -1.2
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 3.6 20 -11 10.8 +2.9
DINT Davis Select International ETF 3.6 68 -59 5.7 -2.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.5 47 -38 12.4 +4.4
EFG iShares MSCI EAFE Growth ETF 3.5 40 -31 4.5 -3.5
NUEM Nuveen ESG Emerging Markets Equity ETF 3.5 45 -36 7.0 -1.0
FNDC Schwab Fundamental International Small Co. Index ETF 3.4 39 -30 7.1 -0.9
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 3.4 7 2 7.4 -0.6
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 3.2 30 -21 0.0 -8.0
ISZE iShares Edge MSCI Intl Size Factor ETF 3.2 30 -21 7.2 -0.8
DIM WisdomTree International MidCap Dividend Fund 3.2 58 -49 7.5 -0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 3.2 20 -11 7.3 -0.7
IXG iShares Global Financials ETF 3.2 46 -37 9.7 +1.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 3.2 49 -40 6.5 -1.5
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 3.2 35 -26 6.8 -1.2
SCHF Schwab International Equity ETF 3.1 6 3 7.2 -0.8
CIL VictoryShares International Volatility Weighted Index ETF 3.1 45 -36 6.5 -1.5
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 3.1 45 -36 6.5 -1.5
IGRO iShares International Dividend Growth ETF 3.1 22 -13 7.8 -0.2
EFA iShares MSCI EAFE ETF 3.1 32 -23 6.9 -1.1
JHMD John Hancock Multifactor Developed International ETF 3.1 39 -30 7.3 -0.7
SDG iShares Sustainable MSCI Global Impact ETF 3.1 49 -40 5.5 -2.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.0 35 -26 6.7 -1.3
VIGI Vanguard International Dividend Appreciation ETF 3.0 25 -16 5.5 -2.5
GSID Goldman Sachs MarketBeta International Equity ETF 3.0 20 -11 7.2 -0.8
DWM WisdomTree International Equity Fund 3.0 48 -39 8.2 +0.2
DOL WisdomTree International LargeCap Dividend Fund 2.9 48 -39 8.5 +0.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.9 35 -26 8.4 +0.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 2.9 20 -11 7.0 -1.0
ESGD iShares MSCI EAFE ESG Optimized ETF 2.9 20 -11 6.8 -1.2
NUDM Nuveen ESG International Developed Markets Equity ETF 2.9 40 -31 6.7 -1.3
IEFA iShares Core MSCI EAFE ETF 2.9 7 2 7.2 -0.8
INTF iShares Edge MSCI Multifactor Intl ETF 2.8 30 -21 7.7 -0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 2.8 29 -20 8.5 +0.5
IVLU iShares Edge MSCI Intl Value Factor ETF 2.8 30 -21 11.3 +3.4
INFR Legg Mason Global Infrastructure ETF 2.7 40 -31 6.0 -2.0
VEA Vanguard FTSE Developed Markets ETF 2.7 5 4 7.3 -0.7
EFV iShares MSCI EAFE Value ETF 2.7 39 -30 9.4 +1.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 2.7 32 -23 6.1 -1.9
GXC SPDR S&P China ETF 2.7 59 -50 8.0 -0.0
IQSI IQ Candriam ESG International Equity ETF 2.6 15 -6 7.2 -0.8
RNDM Developed International Equity Select ETF 2.6 65 -56 6.2 -1.8
DMDV AAM S&P Developed Markets High Dividend Value ETF 2.5 39 -30 11.1 +3.1
FDEV Fidelity Targeted International Factor ETF 2.5 39 -30 6.5 -1.5
IDEV iShares Core MSCI International Developed Markets ETF 2.5 5 4 7.1 -0.9
RWO SPDR Dow Jones Global Real Estate ETF 2.5 50 -41 7.0 -1.0
VIDI Vident International Equity Fund 2.5 59 -50 10.9 +2.9

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 Hong Kong 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 7.7 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 8.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.59
 
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.