VanEck Vectors Global Alternative Energy ETF
ALTAR
Score™
3.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
23.6x P/Sales
ratio
1.9x
P/BV
ratio
3.2x 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) $115
Currency USD
Expense ratio 63 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) $26,574
Large cap (>$10bn) 49.8%
Mid cap ($2-10bn) 42.1%
Small cap (<$2bn) 7.5%
Developed mkts 94.4%
Emerging mkts 5.6%

TOP TEN HOLDINGS
TESLA MOTORS INC 17.7 %
EATON CORP PLC 7.9 %
VESTAS WIND SYSTEMS A/S 7.3 %
MICROCHIP TECHNOLOGY INC 7.2 %
AMETEK INC 7.1 %
NIBE INDUSTRIER AB CLASS B 4.0 %
UNIVERSAL DISPLAY CORP 3.7 %
CREE INC 3.7 %
ENPHASE ENERGY INC 3.5 %
ORMAT TECHNOLOGIES INC 3.2 %
Total 65.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 66.5 %
IRELAND 7.9 %
DENMARK 7.3 %
SWEDEN 4.0 %
CANADA 3.6 %
SPAIN 2.9 %
CHINA 2.8 %
BRAZIL 1.6 %
GERMANY 0.6 %


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.
2.3% 27.1% 8.9% 14.6% 6.2%

Market Correlations
versus... Beta R-squared
S&P500 1.08 60%
MSCI EAFE 1.17 58%
MSCI Emg. Mkts. 0.90 60%

Technical Indicators
Recent close $83.30
30d moving avg. $81.46
Annualized volatility 17.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.4%
Bid/Ask (% of price) 0.61%
ADV underlying (mns) $13,863

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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: 63 bp ALTAR Score™: 3.5%


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 45.0 60 3 1.3 -2.3
ACES ALPS Clean Energy ETF 39.4 65 -2 0.7 -2.9
ICLN iShares Global Clean Energy ETF 23.7 46 17 3.1 -0.4
PBW Invesco WilderHill Clean Energy ETF 22.7 70 -7 -0.7 -4.2
PZD Invesco Cleantech ETF 18.8 68 -5 4.3 +0.8
PBD Invesco Global Clean Energy ETF 18.2 75 -12 0.4 -3.1
CARZ First Trust NASDAQ Global Auto Index Fund 17.7 70 -7 13.1 +9.6
XKCP SPDR Kensho Clean Power ETF 16.8 45 18 -7.7 -11.2
FAN First Trust Global Wind Energy ETF 15.5 60 3 5.2 +1.6
SDG iShares Sustainable MSCI Global Impact ETF 14.7 49 14 5.1 +1.5
LIT Global X Lithium & Battery Tech ETF 14.5 75 -12 3.8 +0.3
XSD SPDR S&P Semiconductor ETF 14.3 35 28 4.6 +1.0
ARKQ Ark Industrial Innovation ETF 12.5 75 -12 1.2 -2.4
LOUP Innovator Loup Frontier Tech ETF 11.0 70 -7 3.6 +0.1
ARKK ARK Innovation ETF 10.7 75 -12 -3.1 -6.6
ARKW ARK Web x.0 ETF 10.4 76 -13 -0.5 -4.1
TAN Invesco Solar ETF 10.2 71 -8 1.1 -2.4
EKAR Innovation Shares NextGen Vehicles & Technology ETF 9.3 65 -2 6.7 +3.2
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 9.3 70 -7 4.4 +0.8
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 8.7 50 13 4.5 +1.0

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:

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 12.9 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 63 bp
Equals: ALTAR Score 3.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 CATEGORY
AVERAGE
1.55
 
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.