Franklin FTSE Saudi Arabia ETF
ALTAR
Score™
6.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.3x P/Sales
ratio
0.0x
P/BV
ratio
1.6x Div.
yield
4.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FLSA seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE Saudi Arabia Capped Index. FTSE Saudi Arabia Capped Index is a market-capitalization weighted index representing the performance of Saudi Arabian 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) $2
Currency USD
Expense ratio 39 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 45
Wgt avg mkt cap (mns) $23,978
Large cap (>$10bn) 62.0%
Mid cap ($2-10bn) 30.0%
Small cap (<$2bn) 8.0%
Developed mkts 0.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SAUDI BASIC INDUSTRIES CORP. 12.3 %
AL RAJHI BANK 11.3 %
SAUDI TELECOM CO. 10.0 %
NATIONAL COMMERCIAL BANK CJSC 8.4 %
RIYAD BANK 4.1 %
SAMBA FINANCIAL GROUP 4.0 %
BANQUE SAUDI FRANSI 3.1 %
SAUDI ARABIAN FERTILIZER CO. 2.7 %
SAUDI ARABIAN MINING CO. 2.6 %
ALINMA BANK 2.6 %
Total 61.2 %

TOP COUNTRY EXPOSURE
SAUDI ARABIA 92.7 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.7% -24.6% -- -- -6.2%

Market Correlations
versus... Beta R-squared
S&P500 0.72 54%
MSCI EAFE 0.84 59%
MSCI Emg. Mkts. 0.69 60%

Technical Indicators
Recent close $22.42
30d moving avg. $21.29
Annualized volatility 21.5%
Short interest (ETF) 0.2%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $595

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 49 potential alternatives to the Franklin FTSE Saudi Arabia ETF ETF based on the alternatives' overlap in portfolio holdings with FLSA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLSA Expense: 39 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLSA
Ticker Fund
Name
Overlap1
vs FLSA
(%)
Expense
ratio
(bp)
Savings
vs FLSA
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLSA
(%)
KSA iShares MSCI Saudi Arabia Capped ETF 83.0 74 -35 6.3 -0.3
GULF WisdomTree Middle East Dividend Fund 29.5 88 -49 8.8 +2.3
EMFM Global X MSCI Next Emerging & Frontier ETF 9.6 55 -16 9.4 +2.9
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 5.7 25 14 9.1 +2.5
EMXC iShares MSCI Emerging Markets ex China ETF 4.0 49 -10 9.2 +2.7
ECON Columbia Emerging Markets Consumer ETF 3.8 59 -20 5.3 -1.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.8 30 9 10.0 +3.5
NUEM Nuveen ESG Emerging Markets Equity ETF 3.0 45 -6 8.4 +1.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 2.6 30 9 9.5 +2.9
SCHE Schwab Emerging Markets Equity ETF 2.6 13 26 9.4 +2.9
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 2.4 45 -6 10.7 +4.2
EEM iShares MSCI Emerging Markets ETF 2.4 68 -29 9.1 +2.5
VWO Vanguard FTSE Emerging Markets ETF 2.3 10 29 9.6 +3.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.3 65 -26 9.1 +2.5
IEMG iShares Core MSCI Emerging Markets ETF 2.3 14 25 9.5 +2.9
VEGI iShares MSCI Global Agriculture Producers ETF 2.3 39 0 6.7 +0.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.1 45 -6 9.4 +2.8
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 2.0 20 19 12.1 +5.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.9 45 -6 9.7 +3.2
ESGE iShares ESG MSCI EM ETF 1.7 25 14 10.5 +4.0
SPEM SPDR Portfolio Emerging Markets ETF 1.7 11 28 9.3 +2.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.3 59 -20 12.1 +5.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.3 69 -30 8.3 +1.8
VYMI Vanguard International High Dividend Yield ETF 1.1 32 7 11.4 +4.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 1.1 45 -6 10.6 +4.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.1 20 19 8.2 +1.7
EWX SPDR S&P Emerging Markets Small Cap ETF 1.0 65 -26 7.5 +1.0
ACWV iShares Edge MSCI Min Vol Global ETF 0.9 20 19 6.1 -0.4
GUNR Flexshares Morningstar Global Upstream Natural Resources 0.9 46 -7 6.5 -0.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 0.8 50 -11 22.6 +16.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.8 39 0 14.3 +7.8
PICK iShares MSCI Global Metals & Mining Producers ETF 0.7 39 0 8.6 +2.0
ACWX iShares MSCI ACWI ex U.S. ETF 0.7 32 7 8.3 +1.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.7 40 -1 8.1 +1.6
IXUS ishares Core MSCI Total International Stock ETF 0.6 9 30 8.4 +1.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.6 8 31 8.6 +2.0
VXUS Vanguard Total International Stock Index Fund 0.5 8 31 8.6 +2.0
CWI SPDR MSCI ACWI ex-US ETF 0.5 30 9 8.4 +1.8
VSGX Vanguard ESG International Stock ETF 0.4 17 22 8.2 +1.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 19 6.9 +0.3
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.3 20 19 6.8 +0.3
ACWF iShares FactorSelect MSCI Global ETF 0.3 35 4 8.6 +2.1
ACWI iShares MSCI ACWI ETF 0.3 32 7 6.5 -0.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 0.3 16 23 7.8 +1.2
VT Vanguard Total World Stock Index Fund 0.2 8 31 6.8 +0.3
VNQI Vanguard Global ex-US Real Estate Index Fund 0.2 12 27 11.1 +4.6
SDG iShares Sustainable MSCI Global Impact ETF 0.1 49 -10 6.6 +0.1
FILL iShares MSCI Global Energy Producers ETF 0.1 39 0 6.7 +0.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 30 6.7 +0.1

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 Saudi Arabia 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 10.9 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.98 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.