Franklin FTSE Saudi Arabia
ALTAR
Score™
6.1% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
18.6x P/Sales
ratio
0.0x
P/BV
ratio
1.8x Div.
yield
4.0%


  • 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) $3
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 42
Wgt avg mkt cap (mns) $25,968
Large cap (>$10bn) 64.6%
Mid cap ($2-10bn) 27.8%
Small cap (<$2bn) 7.7%
Developed mkts 0.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SAUDI BASIC INDUSTRIES CORP. 14.1 %
AL RAJHI BANK 12.9 %
NATIONAL COMMERCIAL BANK CJSC 10.6 %
SAUDI TELECOM CO. 10.0 %
SAMBA FINANCIAL GROUP 4.1 %
RIYAD BANK 4.0 %
SAUDI ARABIAN MINING CO. 3.0 %
SAUDI ELECTRICITY CO. 3.0 %
SAUDI ARABIAN FERTILIZER CO. 2.9 %
ALINMA BANK 2.8 %
Total 67.3 %

TOP COUNTRY EXPOSURE
SAUDI ARABIA 99.1 %










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.
0.7% -- -- -- -0.8%

Market Correlations
versus... Beta R-squared
S&P500 0.65 31%
MSCI EAFE 0.89 35%
MSCI Emg. Mkts. 0.80 42%

Technical Indicators
Recent close $25.09
30d moving avg. $24.63
Annualized volatility 19.8%
Short interest (ETF) 0.2%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $590

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Franklin FTSE Saudi Arabia 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™: 6.1%


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 85.5 74 -35 5.9 -0.2
GULF WisdomTree Middle East Dividend 25.1 88 -49 8.1 +2.0
EMFM Global X MSCI Next Emerging & Frontier 8.2 55 -16 7.8 +1.8
EEMV iShares MSCI Emerg Mkt Minimum Volatility 3.7 25 14 8.9 +2.9
EMXC iShares MSCI Emerging Markets ex China 3.3 49 -10 8.8 +2.7
DEMG Xtrackers FTSE Emerging Comprehensive Factor 2.7 50 -11 9.6 +3.6
EMGF iShares Edge MSCI Multifactor Emerging Markets 2.5 45 -6 10.2 +4.1
EEM iShares MSCI Emerging Markets 2.2 67 -28 8.7 +2.6
NUEM NuShares ESG Emerging Markets Equity 2.2 45 -6 8.6 +2.5
SCHE Schwab Emerging Markets Equity 2.2 13 26 8.8 +2.7
DBEM Xtrackers MSCI Emg. Mkts. Hedged 2.2 65 -26 8.6 +2.5
IEMG iShares Core MSCI Emerging Markets 2.1 14 25 8.7 +2.7
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 2.1 30 9 8.7 +2.6
QEMM SPDR MSCI Emerging Markets Quality Mix 2.0 30 9 9.3 +3.3
VEGI iShares MSCI Global Agriculture Producers 1.9 39 0 6.9 +0.8
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 1.9 45 -6 8.9 +2.8
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 1.8 45 -6 9.3 +3.2
VWO Vanguard Emerging Markets 1.6 12 27 8.8 +2.8
SPEM SPDR Portfolio Emerging Markets 1.6 11 28 8.6 +2.5
ESGE iShares MSCI EM ESG Optimized 1.4 25 14 9.4 +3.4

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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
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 11.2 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
2.00 CATEGORY
AVERAGE
1.49
 
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.