Franklin FTSE South Africa ETF
ALTAR
Score™
11.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
12.0x P/Sales
ratio
1.3x
P/BV
ratio
1.1x Div.
yield
3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
FLZA seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE/JSE South Africa Capped Index. FTSE/JSE South Africa Capped Index is a market-capitalization weighted index representing the performance of South African large and mid capitalization stocks.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Franklin Templeton Investments
Website www.libertyshares.com
Inception date Oct 10, 2018
Assets (mns) $2
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 66
Wgt avg mkt cap (mns) $21,469
Large cap (>$10bn) 37.8%
Mid cap ($2-10bn) 49.9%
Small cap (<$2bn) 12.2%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
NASPERS LTD-N SHS 21.1 %
ANGLOGOLD ASHANTI LTD 6.4 %
FIRSTRAND LTD 5.4 %
GOLD FIELDS LTD 4.4 %
STANDARD BANK GROUP LTD 4.1 %
SANLAM LTD 3.1 %
MTN GROUP LIMITED 3.0 %
IMPALA PLATINUM HOLDINGS LTD 3.0 %
BID CORP. LTD. 2.7 %
SIBANYE GOLD LTD 2.6 %
Total 55.8 %

TOP COUNTRY EXPOSURE
SOUTH AFRICA 97.5 %
BRITAIN 1.0 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-27.2% -26.9% -- -- -8.7%

Market Correlations
versus... Beta R-squared
S&P500 1.35 65%
MSCI EAFE 1.64 79%
MSCI Emg. Mkts. 1.41 88%

Technical Indicators
Recent close $19.83
30d moving avg. $18.65
Annualized volatility 35.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $1,897

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FLZA Expense: 19 bp ALTAR Score™: 11.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLZA
Ticker Fund
Name
Overlap1
vs FLZA
(%)
Expense
ratio
(bp)
Savings
vs FLZA
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLZA
(%)
EZA iShares MSCI South Africa ETF 89.1 59 -40 7.4 -3.6
AFK VanEck Vectors Africa Index ETF 26.3 79 -60 8.8 -2.3
RING iShares MSCI Global Gold Miners ETF 12.8 39 -20 3.1 -7.9
EDIV SPDR S&P Emerging Markets Dividend ETF 11.7 49 -30 10.9 -0.1
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.7 60 -41 8.4 -2.7
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 9.9 51 -32 13.5 +2.4
DVYE iShares Emerging Markets Dividend ETF 8.5 49 -30 16.1 +5.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 7.6 45 -26 9.0 -2.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 7.6 60 -41 10.7 -0.4
FDNI First Trust Dow Jones International Internet ETF 7.5 65 -46 2.1 -9.0
SDEM Global X SuperDividend Emerging Markets ETF 7.4 66 -47 15.8 +4.7
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 7.1 80 -61 17.5 +6.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 7.0 86 -67 2.0 -9.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.7 49 -30 8.0 -3.1
SDIV Global X SuperDividend ETF 6.6 59 -40 13.5 +2.4
EMXC iShares MSCI Emerging Markets ex China ETF 6.4 25 -6 8.3 -2.8
RNEM Emerging Markets Equity Select ETF 6.3 75 -56 10.3 -0.7
XCEM Columbia EM Core ex-China ETF 6.2 16 3 7.3 -3.8
EMFM Global X MSCI Next Emerging & Frontier ETF 6.1 66 -47 9.1 -2.0
OBOR KraneShares MSCI One Belt One Road Index ETF 6.1 79 -60 8.9 -2.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 6.0 20 -1 6.7 -4.4
EEMD AAM S&P Emerging Markets High Dividend Value ETF 5.7 50 -31 20.6 +9.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 5.5 49 -30 8.6 -2.4
DVEM WisdomTree Emerging Markets Dividend Fund 5.3 32 -13 8.1 -3.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 5.1 44 -25 8.9 -2.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 4.9 70 -51 13.2 +2.2
FRDM Freedom 100 Emerging Markets ETF 4.9 49 -30 6.9 -4.2
PXH Invesco FTSE RAFI Emerging Markets ETF 4.8 50 -31 12.9 +1.9
PIE Invesco DWA Emerging Markets Momentum ETF 4.8 90 -71 5.1 -6.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 4.8 39 -20 12.7 +1.6
DWLD Davis Select Worldwide ETF 4.6 63 -44 6.3 -4.7
JHEM John Hancock Multifactor Emerging Markets ETF 4.5 49 -30 8.3 -2.8
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 4.5 50 -31 10.3 -0.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 4.4 63 -44 12.4 +1.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 4.4 15 4 8.5 -2.6
SCHE Schwab Emerging Markets Equity ETF 4.2 11 8 7.7 -3.3
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 4.1 64 -45 4.6 -6.5
DINT Davis Select International ETF 4.1 68 -49 5.6 -5.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 4.1 32 -13 6.0 -5.0
DEM WisdomTree Emerging Markets High Dividend Fund 4.0 63 -44 13.8 +2.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.0 59 -40 10.9 -0.2
ESGE iShares ESG MSCI EM ETF 4.0 25 -6 8.5 -2.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.9 30 -11 7.7 -3.4
SPEM SPDR Portfolio Emerging Markets ETF 3.9 11 8 7.7 -3.4
BKEM BNY Mellon Emerging Markets Equity ETF 3.8 11 8 8.3 -2.8
VWO Vanguard FTSE Emerging Markets ETF 3.8 10 9 7.9 -3.1
NUEM Nuveen ESG Emerging Markets Equity ETF 3.8 45 -26 7.1 -3.9
EEM iShares MSCI Emerging Markets ETF 3.6 68 -49 7.3 -3.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 3.6 65 -46 7.4 -3.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 3.5 80 -61 3.7 -7.4
IEMG iShares Core MSCI Emerging Markets ETF 3.5 13 6 7.8 -3.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 3.4 45 -26 7.8 -3.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.4 47 -28 12.7 +1.7
FEM First Trust Emerging Markets AlphaDEX Fund 3.4 80 -61 11.0 -0.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 3.4 36 -17 8.1 -3.0
EYLD Cambria Emerging Shareholder Yield ETF 3.2 66 -47 16.0 +4.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.1 95 -76 9.1 -2.0
DWX SPDR S&P International Dividend ETF 2.8 45 -26 8.1 -3.0
ECON Columbia Emerging Markets Consumer ETF 2.8 59 -40 4.4 -6.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.7 32 -13 9.0 -2.1
PICK iShares MSCI Global Metals & Mining Producers ETF 2.6 39 -20 7.4 -3.7
ROAM Hartford Multifactor Emerging Markets ETF 2.6 44 -25 14.6 +3.5
EEMO Invesco S&P Emerging Markets Momentum ETF 2.5 29 -10 6.5 -4.6
AVEM Avantis Emerging Markets Equity ETF 2.4 33 -14 8.8 -2.2
EWX SPDR S&P Emerging Markets Small Cap ETF 2.4 65 -46 6.0 -5.0
ISEM Invesco Strategic Emerging Markets ETF 2.3 35 -16 10.0 -1.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 2.3 47 -28 12.3 +1.3
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 2.3 45 -26 13.4 +2.3
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.2 69 -50 7.8 -3.3
IQDF FlexShares International Quality Dividend Index Fund 2.0 47 -28 12.4 +1.4
FDEM Fidelity Targeted Emerging Markets Factor ETF 1.9 45 -26 9.5 -1.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.9 30 -11 8.7 -2.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 1.9 16 3 6.9 -4.2
GUNR Flexshares Morningstar Global Upstream Natural Resources 1.8 46 -27 5.9 -5.2
KMED KraneShares Emerging Markets Healthcare Index ETF 1.7 79 -60 2.1 -9.0
VIGI Vanguard International Dividend Appreciation ETF 1.6 25 -6 5.5 -5.5
WWJD Inspire International ESG ETF 1.5 80 -61 7.6 -3.5
DUSA Davis Select U.S. Equity ETF 1.5 63 -44 5.7 -5.4
GENY Principal Millennials Index ETF 1.5 45 -26 3.7 -7.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 1.5 20 -1 11.1 +0.0
RWX SPDR Dow Jones International Real Estate ETF 1.5 59 -40 6.8 -4.3
VIDI Vident International Equity Fund 1.5 59 -40 11.4 +0.3
FTRI First Trust Indxx Global Natural Resources Income ETF 1.4 70 -51 9.7 -1.3
SLVP iShares MSCI Global Silver Miners ETF 1.3 39 -20 1.5 -9.6
SRET Global X SuperDividend REIT ETF 1.2 59 -40 14.6 +3.6
VSGX Vanguard ESG International Stock ETF 1.2 17 2 7.2 -3.9
DRW WisdomTree Global ex-US Real Estate Fund 1.2 58 -39 10.8 -0.3
DGT SPDR Global Dow ETF 1.2 50 -31 6.8 -4.3
IGRO iShares International Dividend Growth ETF 1.1 22 -3 8.1 -3.0
ACWX iShares MSCI ACWI ex U.S. ETF 1.1 32 -13 7.3 -3.8
VEU Vanguard FTSE All-World ex-US Index Fund 1.1 8 11 7.6 -3.5
CWI SPDR MSCI ACWI ex-US ETF 1.1 30 -11 7.2 -3.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.1 40 -21 7.1 -4.0
IXUS ishares Core MSCI Total International Stock ETF 1.0 9 10 7.4 -3.6
VXUS Vanguard Total International Stock Index Fund 1.0 8 11 7.6 -3.5
KOL VanEck Vectors Coal ETF 1.0 60 -41 20.0 +8.9
ACWF iShares FactorSelect MSCI Global ETF 0.9 35 -16 8.0 -3.1
VNQI Vanguard Global ex-US Real Estate Index Fund 0.9 12 7 10.1 -1.0
VYMI Vanguard International High Dividend Yield ETF 0.9 32 -13 10.3 -0.8

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 South Africa 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 12.4 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 11.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 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.