VanEck Vectors Global Alternative Energy ETF
ALTAR
Score™
4.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
31.2x P/Sales
ratio
2.4x
P/BV
ratio
2.5x Div.
yield
1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Global Alternative Energy ETF seeks investment results that correspond to the price and yield of the Ardour Global Index, which tracks companies primarily engaged in the business of alternative energy.

FUND BASICS
Category Global Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Apr 26, 2007
Assets (mns) $121
Currency USD
Expense ratio 62 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $30,265
Large cap (>$10bn) 49.3%
Mid cap ($2-10bn) 45.4%
Small cap (<$2bn) 5.4%
Developed mkts 95.2%
Emerging mkts 4.8%

TOP TEN HOLDINGS
TESLA MOTORS INC 11.6 %
VESTAS WIND SYSTEMS A/S 9.0 %
MICROCHIP TECHNOLOGY INC 8.9 %
EATON CORP PLC 8.1 %
AMETEK INC 7.9 %
NIBE INDUSTRIER AB CLASS B 4.6 %
ENPHASE ENERGY INC 4.3 %
UNIVERSAL DISPLAY CORP 4.2 %
CREE INC 4.1 %
GAMESA CORP TECNOLOGICA SA 3.1 %
Total 65.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 65.0 %
DENMARK 9.0 %
IRELAND 8.1 %
SWEDEN 4.6 %
SPAIN 3.1 %
CANADA 3.1 %
CHINA 2.0 %
THAILAND 1.9 %
BRAZIL 1.3 %


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.
7.7% 25.9% 6.9% 17.5% 6.4%

Market Correlations
versus... Beta R-squared
S&P500 1.20 75%
MSCI EAFE 1.27 72%
MSCI Emg. Mkts. 1.02 74%

Technical Indicators
Recent close $87.23
30d moving avg. $80.98
Annualized volatility 23.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.4%
Bid/Ask (% of price) 0.51%
ADV underlying (mns) $15,655

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the VanEck Vectors Global Alternative Energy ETF ETF based on the alternatives' overlap in portfolio holdings with GEX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GEX Expense: 62 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GEX
Ticker Fund
Name
Overlap1
vs GEX
(%)
Expense
ratio
(bp)
Savings
vs GEX
(bp)
ALTAR
Score™
(%)
ALTAR
vs GEX
(%)
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 44.0 60 2 0.3 -4.0
ACES ALPS Clean Energy ETF 39.3 65 -3 0.9 -3.5
PBW Invesco WilderHill Clean Energy ETF 24.0 70 -8 -4.0 -8.3
PZD Invesco Cleantech ETF 23.5 68 -6 4.7 +0.4
ICLN iShares Global Clean Energy ETF 22.6 46 16 3.0 -1.3
PBD Invesco Global Clean Energy ETF 17.1 75 -13 1.6 -2.7
FAN First Trust Global Wind Energy ETF 16.9 62 0 6.0 +1.7
XKCP SPDR Kensho Clean Power ETF 16.5 45 17 0.3 -4.0
XSD SPDR S&P Semiconductor ETF 15.1 35 27 3.9 -0.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 11.8 70 -8 4.2 -0.1
SDG iShares Sustainable MSCI Global Impact ETF 11.6 49 13 5.6 +1.3
CARZ First Trust NASDAQ Global Auto Index Fund 11.6 70 -8 14.7 +10.3
FTXR First Trust Nasdaq Transportation ETF 11.6 60 2 6.4 +2.1
SFYF SoFi 50 ETF 11.6 29 33 5.1 +0.8
ARKQ Ark Industrial Innovation ETF 11.6 75 -13 0.6 -3.7
ARKW ARK Web x.0 ETF 11.6 76 -14 -0.8 -5.1
ARKK ARK Innovation ETF 11.6 75 -13 -2.7 -7.1
DRIV Global X Autonomous & Electric Vehicles ETF 10.1 68 -6 5.4 +1.1
TAN Invesco Solar ETF 10.0 71 -9 1.5 -2.8
MOTO SmartETFs Smart Transportation & Technology ETF 9.4 68 -6 7.5 +3.2
IQM Franklin Intelligent Machines ETF 8.9 50 12 2.0 -2.4
IYK iShares U.S. Consumer Goods ETF 8.9 42 20 5.3 +0.9
XNTK SPDR NYSE Technology ETF 8.2 35 27 3.5 -0.8
LIT Global X Lithium & Battery Tech ETF 7.9 75 -13 3.0 -1.3
FDG American Century Focused Dynamic Growth ETF 7.9 45 17 1.7 -2.7
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 7.5 50 12 3.9 -0.4
FMK First Trust Mega Cap AlphaDEX Fund 7.5 70 -8 5.2 +0.9
PSCT Invesco S&P SmallCap Information Technology ETF 7.3 29 33 5.7 +1.4
SIMS SPDR S&P Kensho Intelligent Structures ETF 7.2 45 17 6.0 +1.7
LOUP Innovator Loup Frontier Tech ETF 7.1 70 -8 3.9 -0.5
TDV ProShares S&P Technology Dividend Aristocrats ETF 7.0 45 17 4.7 +0.4
FTXL First Trust Nasdaq Semiconductor ETF 6.8 60 2 4.8 +0.5
IDRV iShares Self-driving EV & Tech ETF 6.2 47 15 7.0 +2.7
EKAR Innovation Shares NextGen Vehicles & Technology ETF 5.9 95 -33 8.2 +3.9
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 5.7 75 -13 1.9 -2.4
DTEC ALPS Disruptive Technologies ETF 5.7 50 12 3.5 -0.8
FDIS Fidelity MSCI Consumer Discretionary Index ETF 5.5 8 54 3.4 -0.9
BUL Pacer US Cash Cows Growth ETF 5.4 60 2 6.2 +1.9
PRN Invesco DWA Industrials Momentum ETF 5.2 60 2 5.0 +0.7
YLCO Global X YieldCo Index ETF 5.0 65 -3 4.6 +0.3
VXF Vanguard Extended Market Index Fund 5.0 7 55 3.8 -0.5
XKST SPDR Kensho Smart Mobility ETF 5.0 45 17 5.3 +1.0
ETHO Etho Climate Leadership U.S. ETF 4.9 47 15 4.4 +0.1
EDEN iShares MSCI Denmark Capped ETF 4.9 53 9 6.2 +1.9
PEZ Invesco DWA Consumer Cyclicals Momentum ETF 4.9 60 2 2.9 -1.4
PXSG Invesco S&P SmallCap Momentum ETF 4.8 39 23 5.1 +0.8
QMOM Alpha Architect U.S. Quantitative Momentum ETF 4.7 49 13 2.1 -2.2
PAVE Global X U.S. Infrastructure Development ETF 4.7 47 15 6.1 +1.7
KOMP SPDR Kensho New Economies Composite ETF 4.6 20 42 2.5 -1.8
MTUM iShares Edge MSCI USA Momentum Factor ETF 4.5 15 47 4.0 -0.3
VCR Vanguard Consumer Discretionary Index Fund 4.4 10 52 3.9 -0.4
WOMN Impact Shares YWCA Women's Empowerment ETF 4.4 75 -13 4.5 +0.2
SOXX iShares PHLX Semiconductor ETF 4.1 46 16 5.2 +0.8
VSL Volshares Large Capital ETF 4.0 65 -3 7.0 +2.7
FPX First Trust US IPO Index Fund 3.9 58 4 2.5 -1.8
SYV SPDR MFS Systematic Value Equity ETF 3.7 60 2 7.7 +3.4
AUSF Global X Adaptive U.S. Factor ETF 3.6 27 35 8.1 +3.8
NUSC Nuveen ESG Small-Cap ETF 3.6 40 22 5.5 +1.2
GXF Global X FTSE Nordic Region ETF 3.5 56 6 11.3 +6.9
SLT Salt TruBeta High Exposure ETF 3.5 29 33 9.9 +5.6
ECOZ TrueMark ESG Active Opportunities ETF 3.4 58 4 4.3 -0.1
XSHQ Invesco S&P SmallCap Quality ETF 3.4 29 33 6.9 +2.6
JKE iShares Morningstar Large-Cap Growth ETF 3.3 25 37 2.8 -1.5
XT iShares Exponential Technologies ETF 3.3 47 15 5.0 +0.7
IJT iShares S&P Small-Cap 600 Growth ETF 3.3 25 37 5.3 +1.0
SLYG SPDR S&P 600 Small Cap Growth ETF 3.3 15 47 5.4 +1.1
SDGA Impact Shares Sustainable Development Goals Global ETF 3.3 75 -13 5.4 +1.1
XKFF SPDR Kensho Final Frontiers ETF 3.2 45 17 6.7 +2.3
VIOG Vanguard S&P Small-Cap 600 Growth ETF 3.2 16 46 5.4 +1.1
GVIP Goldman Sachs Hedge Industry VIP ETF 3.1 45 17 4.6 +0.3
MOAT VanEck Vectors Morningstar Wide Moat ETF 3.1 49 13 6.5 +2.2
SMH VanEck Vectors Semiconductor ETF 3.1 35 27 5.3 +1.0
PEXL Pacer US Export Leaders ETF 3.0 60 2 6.0 +1.7
FYC First Trust Small Cap Growth AlphaDEX Fund 3.0 70 -8 2.5 -1.8
ENTR Entrepreneur 30 Fund 2.9 49 13 2.4 -1.9
FIW First Trust Water ETF 2.9 55 7 3.9 -0.4
PHO Invesco Water Resources ETF 2.9 60 2 3.7 -0.6
XTH SPDR S&P Technology Hardware ETF 2.9 0 62 0.0 -4.3
JHMI John Hancock Multifactor Industrials ETF 2.9 40 22 6.2 +1.9
SNSR Global X Internet of Things Thematic ETF 2.8 68 -6 4.4 +0.1
QYLD Global X NASDAQ 100 Covered Call ETF 2.8 60 2 3.5 -0.9
JHMC John Hancock Multifactor Consumer Discretionary ETF 2.8 40 22 4.4 +0.1
IJJ iShares S&P Mid-Cap 400 Value ETF 2.8 25 37 9.0 +4.6
MDYV SPDR S&P 400 Mid Cap Value ETF 2.8 15 47 9.1 +4.7
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 2.8 30 32 5.7 +1.4
NUSI Nationwide Risk-Managed Income ETF 2.8 68 -6 3.4 -0.9
RGI Invesco S&P 500 Equal Weight Industrials ETF 2.8 40 22 5.8 +1.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 2.7 15 47 9.0 +4.7
EWP iShares MSCI Spain ETF 2.7 50 12 8.7 +4.4
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.7 70 -8 7.5 +3.2
FXD First Trust Consumer Discretionary AlphaDEX Fund 2.7 64 -2 7.9 +3.6
XLI Industrial Select Sector SPDR Fund 2.7 13 49 6.1 +1.7
JKJ iShares Morningstar Small-Cap ETF 2.7 25 37 7.0 +2.7
HLAL Wahed FTSE USA Shariah ETF 2.7 50 12 4.6 +0.3
FDMO Fidelity Momentum Factor ETF 2.6 29 33 3.8 -0.6
LVHD Legg Mason Low Volatility High Dividend ETF 2.6 27 35 9.1 +4.8
QQQ Invesco QQQ Trust 2.6 20 42 3.7 -0.6
FIDU Fidelity MSCI Industrials Index ETF 2.6 8 54 6.1 +1.8
DWAS Invesco DWA SmallCap Momentum ETF 2.6 60 2 -1.1 -5.4
VIS Vanguard Industrials Index Fund 2.6 10 52 6.1 +1.7

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:
VanEck Vectors Global Alternative Energy 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 12.0 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.50
 
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.