AGFiQ Global Infrastructure
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.7x P/Sales
ratio
2.4x
P/BV
ratio
2.0x Div.
yield
4.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
GLIF utilizes a proprietary, multi-factor investment process to seek long-term capital appreciation by investing primarily in global equity securities in the infrastructure industry.

FUND BASICS
Category Global Equities
Fund Sponsor FQF Trust
Website www.agf.com
Inception date May 23, 2019
Assets (mns) $3
Currency USD
Expense ratio 45 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 76
Wgt avg mkt cap (mns) $34,941
Large cap (>$10bn) 80.8%
Mid cap ($2-10bn) 17.8%
Small cap (<$2bn) 1.4%
Developed mkts 95.3%
Emerging mkts 4.7%

TOP TEN HOLDINGS
AMERICAN TOWER CORP-CL A 7.3 %
ENBRIDGE INC 6.7 %
CROWN CASTLE INTL CORP 5.8 %
TRANSCANADA CORP 3.5 %
VINCI SA 3.3 %
NATIONAL GRID PLC 3.1 %
KINDER MORGAN INC 3.1 %
CHINA TOWER CORP. LTD. CLASS H 3.1 %
SEMPRA ENERGY 2.9 %
ONEOK INC 2.7 %
Total 41.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 48.3 %
CANADA 15.1 %
BRITAIN 4.9 %
CHINA 4.8 %
SPAIN 4.5 %
FRANCE 3.7 %
HONG KONG 3.4 %
AUSTRALIA 2.8 %
ITALY 2.0 %
BRAZIL 1.5 %

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.
4.7% -- -- -- 4.7%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $25.46
30d moving avg. $25.76
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.40%
ADV underlying (mns) $6,467

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the AGFiQ Global Infrastructure ETF based on the alternatives' overlap in portfolio holdings with GLIF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GLIF Expense: 45 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GLIF
Ticker Fund
Name
Overlap1
vs GLIF
(%)
Expense
ratio
(bp)
Savings
vs GLIF
(bp)
ALTAR
Score™
(%)
ALTAR
vs GLIF
(%)
TOLZ ProShares Global Infrastructure 54.8 46 -1 5.2 -0.0
INFR Legg Mason Global Infrastructure 41.2 40 5 5.7 +0.4
IGF iShares S&P Global Infrastructure 37.8 46 -1 4.8 -0.5
GII SPDR FTSE/Macquarie Global Infrastructure 37.6 40 5 4.9 -0.4
NFRA FlexShares STOXX Global Broad Infrastructure 26.5 47 -2 6.4 +1.1
TPYP Tortoise North American Pipeline 24.9 40 5 4.7 -0.5
JXI iShares S&P Global Utilities 24.6 46 -1 5.5 +0.2
EMLP First Trust N. American Energy Infrastructure 24.3 95 -50 5.2 -0.1
ENFR Alerian Energy Infrastructure 22.7 55 -10 4.1 -1.2
MLPX Global X MLP & Energy Infrastructure 22.1 45 0 4.2 -1.1
USAI American Energy Independence 22.1 75 -30 2.6 -2.7
GHII Invesco S&P High Income Infrastructure 21.1 45 0 4.8 -0.4
FUTY Fidelity MSCI Utilities 16.4 8 37 5.3 0.0
VPU Vanguard Utilities ETF 16.4 10 35 5.2 -0.0
JHMU John Hancock Multifactor Utilities 16.2 40 5 5.3 -0.0
ECLN First Trust EIP Carbon Impact 16.2 95 -50 3.6 -1.7
RYU Invesco S&P Equal Weight Utilities 15.9 40 5 5.3 -0.0
IDU iShares DJ US Utilities 15.6 43 2 5.0 -0.3
XLUY Cushing Utility & MLP 15.1 65 -20 4.9 -0.4
XLU Utilities Select Sector SPDR 15.0 13 32 5.4 +0.1

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

Content on this tab for subscribers only

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:
AGFiQ Global Infrastructure
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 11.3 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 CATEGORY
AVERAGE
1.54
 
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.