Franklin FTSE Latin America ETF
ALTAR
Score™		 13.2% info Recommen-
dation		 SPECULATIVE
2024E    2025E
P/E
ratio		 7.7x P/Sales
ratio		 0.6x
P/BV
ratio		 1.2x Div.
yield		 5.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FLLA seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE Latin America Capped Index. FTSE Latin America Capped Index is a market-capitalization weighted index representing the performance of Latin American large and mid capitalization stocks.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Franklin Templeton Investments
Website www.libertyshares.com
Inception date Oct 09, 2018
Assets (mns) $48
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 153
Wgt avg mkt cap (mns) $22,285
Large cap (>$10bn) 60.3%
Mid cap ($2-10bn) 28.5%
Small cap (<$2bn) 2.8%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
VALE SA 6.9 %
PETROBRAS - PETROLEO BRAS-PR 6.1 %
ITAU UNIBANCO HOLDING SA 4.8 %
PETROBRAS - PETROLEO BRAS 4.4 %
GRUPO FINANCIERO BANORTE-O 3.7 %
FOMENTO ECONOMICO MEXICANO SAB DE 3.3 %
AMERICA MOVIL SAB DE CV ADR - SERI 3.2 %
GRUPO MEXICO S.A.B. DE C.V. CLASS 2.9 %
WALMART DE MEXICO-SER V 2.8 %
WEG SA 2.0 %
Total 40.1 %

TOP COUNTRY EXPOSURE
BRAZIL 56.6 %
MEXICO 25.2 %
CHILE 6.0 %
COLOMBIA 1.4 %







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.
-19.3% -1.0% -1.1% -- 0.7%

Market Correlations
versus... Beta R-squared
S&P500 0.94 44%
MSCI EAFE 0.94 45%
MSCI Emg. Mkts. 0.71 25%

Technical Indicators
Recent close $19.25
30d moving avg. $20.41
Annualized volatility 24.7%
Short interest (ETF) 0.1%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 21
Turnover 0.8%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $2,273

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 197 potential alternatives to the Franklin FTSE Latin America ETF ETF based on the alternatives' overlap in portfolio holdings with FLLA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLLA Expense: 19 bp ALTAR Score™: 13.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLLA
Ticker Fund
Name		 Overlap1
vs FLLA
(%)		 Expense
ratio
(bp)		 Savings
vs FLLA
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs FLLA
(%)
FLBR Franklin FTSE Brazil ETF 57.6 19 0 13.2 +0.0
EWZ iShares MSCI Brazil ETF 51.7 58 -39 10.4 -2.8
FLN First Trust Latin America AlphaDEX Fund 38.4 80 -61 8.4 -4.7
FBZ First Trust Brazil AlphaDEX Fund 29.6 80 -61 13.3 +0.2
ILF iShares Latin America 40 ETF 29.1 48 -29 10.4 -2.7
FLMX Franklin FTSE Mexico ETF 24.4 19 0 16.2 +3.1
EWW iShares MSCI Mexico ETF 24.3 50 -31 13.2 +0.0
EMDM First Trust Bloomberg Emerging Market Democracies ETF 23.2 75 -56 8.2 -4.9
FTHF First Trust Emerging Markets Human Flourishing ETF 18.6 75 -56 8.9 -4.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 16.4 44 -25 10.6 -2.5
DEM WisdomTree Emerging Markets High Dividend Fund 15.6 63 -44 18.9 +5.7
DVYE iShares Emerging Markets Dividend ETF 13.4 49 -30 18.8 +5.6
PXH Invesco FTSE RAFI Emerging Markets ETF 12.6 49 -30 12.2 -0.9
BRAZ Global X Brazil Active ETF 12.0 75 -56 10.1 -3.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 11.9 39 -20 12.5 -0.7
FEM First Trust Emerging Markets AlphaDEX Fund 11.4 80 -61 13.0 -0.1
EELV Invesco S&P Emerging Markets Low Volatility ETF 11.2 29 -10 8.7 -4.4
RNEM First Trust Emerging Markets Equity Select ETF 10.4 75 -56 7.6 -5.6
UEVM VictoryShares Emerging Markets Value Momentum ETF 10.2 45 -26 12.3 -0.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 10.2 24 -5 9.2 -4.0
EDOG ALPS Emerging Sector Dividend Dogs ETF 10.2 60 -41 13.4 +0.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 9.9 32 -13 6.9 -6.3
XCEM Columbia EM Core ex-China ETF 9.6 16 3 7.7 -5.5
EMMF WisdomTree Emerging Markets Multifactor Fund 9.2 48 -29 8.8 -4.4
EEMD AAM S&P Emerging Markets High Dividend Value ETF 8.6 49 -30 16.1 +3.0
GVAL Cambria Global Value ETF 8.5 68 -49 13.1 -0.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 8.4 70 -51 9.2 -4.0
SDEM Global X MSCI SuperDividend Emerging Markets ETF 8.3 67 -48 15.0 +1.9
EMXC iShares MSCI Emerging Markets ex China ETF 7.8 25 -6 6.7 -6.5
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 7.7 18 1 6.8 -6.3
STXE Strive Emerging Markets Ex-China ETF 7.6 32 -13 7.0 -6.2
FRDM Freedom 100 Emerging Markets ETF 7.6 49 -30 7.3 -5.9
XCNY SPDR S&P Emerging Markets ex-China ETF 7.5 15 4 6.3 -6.9
BKF iShares MSCI BIC ETF 7.1 69 -50 6.9 -6.2
JHEM John Hancock Multifactor Emerging Markets ETF 7.0 49 -30 8.2 -5.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 6.9 95 -76 10.5 -2.7
EQLT iShares MSCI Emerging Markets Quality Factor ETF 6.8 35 -16 7.4 -5.8
ECON Columbia Emerging Markets Consumer ETF 6.7 49 -30 7.3 -5.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 6.5 50 -31 13.0 -0.2
XC WisdomTree Emerging Markets Ex-China Fund 6.5 32 -13 6.0 -7.2
NUEM Nuveen ESG Emerging Markets Equity ETF 6.4 36 -17 6.5 -6.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 6.3 45 -26 11.0 -2.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 6.3 36 -17 7.8 -5.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 6.2 66 -47 10.0 -3.2
SCHE Schwab Emerging Markets Equity ETF 6.2 11 8 7.1 -6.0
BKEM BNY Mellon Emerging Markets Equity ETF 6.2 11 8 8.4 -4.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 6.2 15 4 7.2 -5.9
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 6.1 15 4 10.2 -2.9
DSTX Distillate International Fundamental Stability & Value ETF 6.0 55 -36 8.0 -5.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 5.9 59 -40 11.3 -1.9
LDEM iShares ESG MSCI EM Leaders ETF 5.9 17 2 7.6 -5.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 5.9 88 -69 7.4 -5.7
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 5.8 33 -14 8.2 -4.9
EMM Global X Emerging Markets ex-China ETF 5.7 75 -56 4.2 -8.9
ECH iShares MSCI Chile ETF 5.7 58 -39 9.8 -3.4
EMXF iShares ESG Advanced MSCI EM ETF 5.7 16 3 6.8 -6.3
ICOP iShares Copper and Metals Mining ETF 5.7 47 -28 10.1 -3.0
EEM iShares MSCI Emerging Markets ETF 5.7 69 -50 6.9 -6.3
EVLU iShares MSCI Emerging Markets Value Factor ETF 5.6 35 -16 12.4 -0.7
VWO Vanguard FTSE Emerging Markets ETF 5.5 8 11 6.9 -6.2
EMGF iShares Emerging Markets Equity Factor ETF 5.5 25 -6 8.5 -4.7
ESGE iShares ESG Aware MSCI EM ETF 5.5 25 -6 7.1 -6.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 5.5 30 -11 7.3 -5.9
ROAM Hartford Multifactor Emerging Markets ETF 5.3 44 -25 15.8 +2.6
PICK iShares MSCI Global Metals & Mining Producers ETF 5.2 39 -20 12.8 -0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 5.1 32 -13 6.2 -6.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 5.1 20 -1 6.8 -6.4
IEMG iShares Core MSCI Emerging Markets ETF 5.1 9 10 7.5 -5.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 4.9 60 -41 9.8 -3.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.5 30 -11 8.1 -5.0
ICLN iShares Global Clean Energy ETF 4.3 41 -22 6.0 -7.2
EMC Global X Emerging Markets Great Consumer ETF 4.1 75 -56 4.5 -8.6
WWJD Inspire International ETF 4.1 80 -61 7.3 -5.9
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 4.0 90 -71 6.1 -7.0
AVES Avantis Emerging Markets Value ETF 3.9 36 -17 11.6 -1.6
DFAE Dimensional Emerging Core Equity Market ETF 3.8 35 -16 7.3 -5.9
FDEM Fidelity Emerging Markets Multifactor ETF 3.8 25 -6 12.3 -0.8
DEHP Dimensional Emerging Markets High Profitability ETF 3.8 41 -22 5.0 -8.2
VIDI Vident International Equity Strategy ETF 3.7 61 -42 10.2 -3.0
DFEV Dimensional Emerging Markets Value ETF 3.7 43 -24 11.1 -2.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 3.6 41 -22 7.4 -5.8
SPEM SPDR Portfolio Emerging Markets ETF 3.5 7 12 7.3 -5.8
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.4 46 -27 9.3 -3.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 3.3 38 -19 7.8 -5.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.1 47 -28 9.4 -3.8
EYLD Cambria Emerging Shareholder Yield ETF 3.1 66 -47 13.2 +0.0
IQDF FlexShares International Quality Dividend Index Fund 3.0 47 -28 12.9 -0.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.0 58 -39 10.2 -3.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.9 40 -21 8.3 -4.9
GMET VanEck Green Metals ETF 2.9 63 -44 10.7 -2.5
AVEM Avantis Emerging Markets Equity ETF 2.8 33 -14 8.9 -4.3
VYMI Vanguard International High Dividend Yield ETF 2.7 22 -3 9.8 -3.3
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 2.4 80 -61 12.3 -0.9
SDIV Global X Superdividend ETF 2.3 58 -39 14.9 +1.8
GXG Global X MSCI Colombia ETF 2.2 62 -43 15.8 +2.6
BLES Inspire Global Hope ETF 2.2 61 -42 6.4 -6.7
FILL iShares MSCI Global Energy Producers ETF 2.2 39 -20 9.6 -3.5
DEW WisdomTree Global High Dividend Fund 2.1 58 -39 8.5 -4.6
EWZS iShares MSCI Brazil Small-Cap ETF 2.1 59 -40 10.9 -2.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.0 42 -23 8.1 -5.1
EEMO Invesco S&P Emerging Markets Momentum ETF 2.0 29 -10 5.5 -7.6
IWTR iShares MSCI Water Management Multisector ETF 1.9 47 -28 5.0 -8.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.9 18 1 7.0 -6.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.8 41 -22 7.4 -5.7
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 1.8 58 -39 4.6 -8.6
ACWX iShares MSCI ACWI ex U.S. ETF 1.7 34 -15 7.0 -6.2
IQDE FlexShares International Quality Dividend Defensive Index ET 1.7 47 -28 14.8 +1.7
RNRG Global X Renewable Energy Producers ETF 1.7 66 -47 5.5 -7.6
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.7 70 -51 7.7 -5.5
VXUS Vanguard Total International Stock ETF 1.6 7 12 7.2 -6.0
BPAY BlackRock Future Financial and Technology ETF 1.6 70 -51 8.2 -5.0
IXUS iShares Core MSCI Total International Stock ETF 1.6 7 12 7.2 -6.0
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 1.6 45 -26 5.7 -7.5
JIG JPMorgan International Growth ETF 1.5 55 -36 4.6 -8.5
VEU Vanguard FTSE All-World ex-US Index Fund 1.5 8 11 7.3 -5.9
SCHY Schwab International Dividend Equity ETF 1.5 14 5 9.3 -3.8
EDIV SPDR S&P Emerging Markets Dividend ETF 1.5 49 -30 12.0 -1.2
CGV Conductor Global Equity Value ETF 1.5 130 -111 10.9 -2.3
MEM Matthews Emerging Markets Equity Active ETF 1.4 79 -60 5.4 -7.8
CUT Invesco MSCI Global Timber ETF 1.4 61 -42 8.4 -4.8
WOOD iShares Global Timber & Forestry ETF 1.4 42 -23 9.8 -3.4
SDG iShares MSCI Global Sustainable Development Goals ETF 1.4 49 -30 5.6 -7.5
VSGX Vanguard ESG International Stock ETF 1.4 12 7 6.8 -6.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.4 47 -28 5.5 -7.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.3 30 -11 8.0 -5.2
BLLD JPMorgan Sustainable Infrastructure ETF 1.3 49 -30 5.7 -7.5
CGW Invesco S&P Global Water Index ETF 1.3 57 -38 4.4 -8.8
BNE Blue Horizon BNE ETF 1.3 87 -68 4.6 -8.6
PIO Invesco Global Water ETF 1.2 75 -56 5.2 -8.0
EFRA iShares Environmental Infrastructure and Industrials ETF 1.2 47 -28 4.9 -8.3
RWX SPDR Dow Jones International Real Estate ETF 1.2 59 -40 7.4 -5.8
CGXU Capital Group International Focus Equity ETF 1.2 54 -35 4.9 -8.3
ERTH Invesco MSCI Sustainable Future ETF 1.1 62 -43 3.6 -9.5
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.1 25 -6 6.6 -6.5
KXI iShares Global Consumer Staples ETF 1.1 41 -22 5.7 -7.4
MXI iShares Global Materials ETF 1.1 41 -22 7.0 -6.2
AQWA Global X Clean Water ETF 1.1 50 -31 4.2 -8.9
CWI SPDR MSCI ACWI ex-US ETF 1.1 30 -11 6.9 -6.2
JSTC Adasina Social Justice All Cap Global ETF 1.1 89 -70 4.9 -8.2
CCNR ALPS CoreCommodity Natural Resources ETF 1.0 39 -20 11.0 -2.1
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.0 10 9 7.7 -5.5
RODE Hartford Multifactor Diversified International ETF 0.9 29 -10 11.8 -1.4
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.9 72 -53 1.0 -12.2
SUPL ProShares Supply Chain Logistics ETF 0.8 58 -39 14.2 +1.1
MOO VanEck Agribusiness ETF 0.8 53 -34 9.7 -3.4
BIGFX Baron International Growth Retail 0.8 75 -56 3.1 -10.0
GLOF iShares Global Equity Factor ETF 0.7 20 -1 7.0 -6.2
BRF VanEck Brazil Small-Cap ETF 0.7 66 -47 9.7 -3.5
EPU iShares MSCI Peru and Global Exposure ETF 0.7 59 -40 5.5 -7.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.7 12 7 8.3 -4.9
HAP VanEck Natural Resources ETF 0.7 50 -31 10.0 -3.2
VEGI iShares MSCI Agriculture Producers ETF 0.6 39 -20 9.2 -3.9
EWX SPDR S&P Emerging Markets Small Cap ETF 0.6 65 -46 8.2 -5.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.6 12 7 4.8 -8.4
BINV Brandes International ETF 0.6 70 -51 8.5 -4.7
IGRO iShares International Dividend Growth ETF 0.6 15 4 7.5 -5.6
ACWI iShares MSCI ACWI ETF 0.6 32 -13 5.3 -7.9
ARGT Global X MSCI Argentina ETF 0.6 59 -40 5.4 -7.8
JGLO JPMorgan Global Select Equity ETF 0.6 33 -14 4.5 -8.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.6 20 -1 5.2 -8.0
VT Vanguard Total World Stock ETF 0.5 7 12 5.5 -7.6
JXI iShares Global Utilities ETF 0.5 43 -24 5.9 -7.2
SHPP Pacer Industrials and Logistics ETF 0.5 60 -41 9.9 -3.3
KLMT Invesco MSCI Global Climate 500 ETF 0.5 10 9 5.4 -7.7
RWO SPDR Dow Jones Global Real Estate ETF 0.5 50 -31 6.1 -7.0
DGT SPDR Global Dow ETF 0.5 50 -31 6.8 -6.4
EMIF iShares Emerging Markets Infrastructure ETF 0.4 60 -41 8.5 -4.7
IXG iShares Global Financials ETF 0.4 42 -23 6.2 -7.0
EXI iShares Global Industrials ETF 0.4 42 -23 4.5 -8.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.4 60 -41 0.5 -12.7
CGGR Capital Group Growth ETF 0.4 39 -20 3.2 -9.9
XT iShares Exponential Technologies ETF 0.4 46 -27 4.8 -8.4
JETS U.S. Global Jets ETF 0.4 60 -41 -13.3 -26.4
AVRE Avantis Real Estate ETF 0.3 17 2 5.9 -7.3
SMOG VanEck Low Carbon Energy ETF 0.3 61 -42 2.4 -10.8
CLNR IQ Cleaner Transport ETF 0.3 45 -26 6.8 -6.3
GDXJ VanEck Junior Gold Miners ETF 0.3 52 -33 4.5 -8.6
SIL Global X Silver Miners ETF 0.3 65 -46 2.2 -11.0
SLVP iShares MSCI Global Silver Miners ETF 0.3 39 -20 3.2 -10.0
SILJ ETFMG Prime Junior Silver Miners ETF 0.3 69 -50 1.5 -11.6
AGMI Themes Silver Miners ETF 0.3 35 -16 4.5 -8.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 10 5.4 -7.8
IPAV Global X Infrastructure Development ex-U.S. ETF 0.2 55 -36 9.7 -3.5
REET iShares Global REIT ETF 0.2 14 5 6.2 -6.9
FTAG First Trust Indxx Global Agriculture ETF 0.2 70 -51 9.7 -3.5
FDIG Fidelity Crypto Industry and Digital Payments ETF 0.2 39 -20 -1.7 -14.8
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -36 11.0 -2.1
NBCC Neuberger Berman Next Generation Connected Consumer ETF 0.2 56 -37 1.1 -12.0
VIGI Vanguard International Dividend Appreciation ETF 0.1 15 4 6.4 -6.7
DFGR Dimensional Global Real Estate ETF 0.1 22 -3 6.2 -6.9
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.1 86 -67 1.6 -11.5
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.1 86 -67 1.2 -11.9
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 -1 6.3 -6.8
RXI iShares Global Consumer Discretionary ETF 0.1 41 -22 5.4 -7.8
IXJ iShares Global Healthcare ETF 0.1 42 -23 6.5 -6.6
TTAI FCF International Quality ETF 0.0 59 -40 5.6 -7.6
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 Latin America 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 14.7 %
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.