Franklin FTSE South Africa ETF
ALTAR
Score™
9.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
10.0x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
4.6%


  • 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 71
Wgt avg mkt cap (mns) $22,250
Large cap (>$10bn) 38.0%
Mid cap ($2-10bn) 55.1%
Small cap (<$2bn) 6.9%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
NASPERS LTD-N SHS 24.6 %
STANDARD BANK GROUP LTD 4.7 %
FIRSTRAND LTD 4.4 %
MTN GROUP LIMITED 3.7 %
ANGLOGOLD ASHANTI LTD 3.3 %
SANLAM LTD 2.9 %
IMPALA PLATINUM HOLDINGS LTD 2.8 %
SASOL LTD 2.8 %
BID CORP. LTD. 2.4 %
ABSA GROUP LTD 2.4 %
Total 54.0 %

TOP COUNTRY EXPOSURE
SOUTH AFRICA 97.7 %
BRITAIN 1.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.2% -11.3% -- -- 5.6%

Market Correlations
versus... Beta R-squared
S&P500 0.97 37%
MSCI EAFE 1.43 51%
MSCI Emg. Mkts. 1.35 81%

Technical Indicators
Recent close $22.77
30d moving avg. $24.49
Annualized volatility 24.5%
Short interest (ETF) 1.6%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $897

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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™: 9.0%


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 89.7 59 -40 8.5 -0.5
AFK VanEck Vectors Africa Index ETF 28.1 78 -59 6.8 -2.2
EDIV SPDR S&P Emerging Markets Dividend ETF 15.3 49 -30 10.6 +1.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 13.7 60 -41 7.9 -1.2
FDNI First Trust Dow Jones International Internet ETF 10.5 65 -46 2.9 -6.1
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 10.0 51 -32 13.4 +4.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 8.3 86 -67 2.3 -6.7
RING iShares MSCI Global Gold Miners ETF 8.3 39 -20 3.4 -5.6
PIE Invesco DWA Emerging Markets Momentum ETF 7.9 90 -71 5.2 -3.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 7.8 20 -1 7.6 -1.4
FRDM Freedom 100 Emerging Markets ETF 7.3 49 -30 7.3 -1.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 7.3 63 -44 12.4 +3.4
EMFM Global X MSCI Next Emerging & Frontier ETF 7.2 55 -36 7.6 -1.4
EMXC iShares MSCI Emerging Markets ex China ETF 7.0 49 -30 8.4 -0.6
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.9 49 -30 8.3 -0.7
EDOG ALPS Emerging Sector Dividend Dogs ETF 6.8 60 -41 9.7 +0.7
PXH Invesco FTSE RAFI Emerging Markets ETF 6.5 50 -31 12.3 +3.3
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 6.5 45 -26 9.7 +0.7
EEMD AAM S&P Emerging Markets High Dividend Value ETF 6.3 50 -31 13.2 +4.2
XCEM Columbia EM Core ex-China ETF 6.2 16 3 7.8 -1.2

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:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.2 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 9.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.