VanEck India Growth Leaders ETF
ALTAR
Score™		 5.7% info Recommen-
dation		 UNDERWEIGHT
2024E    2025E
P/E
ratio		 15.5x P/Sales
ratio		 3.4x
P/BV
ratio		 2.9x Div.
yield		 1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
GLIN seeks to replicate the price and yield performance of the MarketGrader India All-Cap Growth Leaders Index, which consists of fundamentally sound Indian companies that exhibit attractive growth potential at a reasonable price.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Aug 25, 2010
Assets (mns) $184
Currency USD
Expense ratio 77 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 83
Wgt avg mkt cap (mns) $33,757
Large cap (>$10bn) 81.4%
Mid cap ($2-10bn) 13.8%
Small cap (<$2bn) 4.7%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
10.4 %
CANARA BANK 8.5 %
VARUN BEVERAGES LTD. 6.3 %
BAJAJ AUTO LIMITED 5.3 %
ICICI BANK LTD 4.8 %
STATE BANK OF INDIA 4.7 %
INDUSIND BANK LIMITED 4.7 %
HCL TECHNOLOGIES LTD 4.7 %
DR. REDDY'S LABORATORIES 4.5 %
TATA CONSULTANCY SVS LTD 4.2 %
Total 58.0 %

TOP COUNTRY EXPOSURE
INDIA 91.1 %










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.
19.3% 38.5% 10.4% 2.1% -1.9%

Market Correlations
versus... Beta R-squared
S&P500 0.79 60%
MSCI EAFE 0.65 43%
MSCI Emg. Mkts. 0.52 26%

Technical Indicators
Recent close $50.45
30d moving avg. $53.79
Annualized volatility 17.6%
Short interest (ETF) 3.3%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.5%
Bid/Ask (% of price) 0.61%
ADV underlying (mns) $606

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 143 potential alternatives to the VanEck India Growth Leaders ETF ETF based on the alternatives' overlap in portfolio holdings with GLIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GLIN Expense: 77 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GLIN
Ticker Fund
Name		 Overlap1
vs GLIN
(%)		 Expense
ratio
(bp)		 Savings
vs GLIN
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GLIN
(%)
EPI WisdomTree India Earnings Fund 21.2 85 -8 6.1 +0.4
NFTY First Trust India NIFTY 50 Equal Weight ETF 20.0 80 -3 6.3 +0.6
DGIN VanEck Digital India ETF 17.1 71 6 0.1 -5.6
INDY iShares India 50 ETF 16.9 89 -12 4.6 -1.1
INDA iShares MSCI India ETF 14.7 65 12 4.4 -1.3
PIN Invesco India ETF 14.2 78 -1 4.5 -1.2
FLIN Franklin FTSE India ETF 13.0 19 58 4.7 -1.0
INDF Nifty India Financials ETF 9.5 75 2 5.3 -0.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 8.2 95 -18 10.5 +4.8
NDIA Global X India Active ETF 8.0 75 2 7.2 +1.5
FDEM Fidelity Emerging Markets Multifactor ETF 7.6 25 52 12.3 +6.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 6.9 40 37 8.3 +2.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 6.8 30 47 8.1 +2.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.8 24 53 9.2 +3.5
RNEM First Trust Emerging Markets Equity Select ETF 6.5 75 2 7.6 +1.9
EEMO Invesco S&P Emerging Markets Momentum ETF 6.5 29 48 5.5 -0.2
EQLT iShares MSCI Emerging Markets Quality Factor ETF 6.5 35 42 7.4 +1.7
EMMF WisdomTree Emerging Markets Multifactor Fund 6.2 48 29 8.8 +3.1
STXE Strive Emerging Markets Ex-China ETF 5.9 32 45 7.0 +1.3
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 5.8 88 -11 7.4 +1.8
BKF iShares MSCI BIC ETF 5.8 69 8 6.9 +1.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.3 32 45 6.9 +1.2
INCO Columbia India Consumer ETF 5.3 75 2 1.5 -4.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 5.2 25 52 6.6 +1.0
EMGF iShares Emerging Markets Equity Factor ETF 4.7 25 52 8.5 +2.8
XC WisdomTree Emerging Markets Ex-China Fund 4.5 32 45 6.0 +0.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 4.5 33 44 8.2 +2.6
SMIN iShares MSCI India Small Cap ETF 4.5 79 -2 3.5 -2.2
XCNY SPDR S&P Emerging Markets ex-China ETF 4.4 15 62 6.3 +0.6
NXTG First Trust Indxx NextG ETF 4.3 70 7 6.2 +0.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 4.2 15 62 10.2 +4.6
EMXC iShares MSCI Emerging Markets ex China ETF 4.2 25 52 6.7 +1.0
JHEM John Hancock Multifactor Emerging Markets ETF 4.1 49 28 8.2 +2.5
GMF SPDR S&P Emerging Asia Pacific ETF 4.1 49 28 6.1 +0.5
EMM Global X Emerging Markets ex-China ETF 3.9 75 2 4.2 -1.4
CIBR First Trust NASDAQ Cybersecurity ETF 3.8 60 17 4.1 -1.6
EEMA iShares MSCI Emerging Markets Asia ETF 3.8 49 28 6.5 +0.8
ECON Columbia Emerging Markets Consumer ETF 3.8 49 28 7.3 +1.7
EMXF iShares ESG Advanced MSCI EM ETF 3.7 16 61 6.8 +1.2
GINX SGI Enhanced Global Income ETF 3.7 98 -21 5.6 -0.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.6 30 47 7.3 +1.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 3.6 32 45 6.2 +0.5
ROAM Hartford Multifactor Emerging Markets ETF 3.5 44 33 15.8 +10.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 3.5 70 7 6.2 +0.5
SCHE Schwab Emerging Markets Equity ETF 3.4 11 66 7.1 +1.4
ESGE iShares ESG Aware MSCI EM ETF 3.3 25 52 7.1 +1.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 3.3 36 41 7.8 +2.2
EMDM First Trust Bloomberg Emerging Market Democracies ETF 3.2 75 2 8.2 +2.6
FLAX Franklin FTSE Asia Ex Japan ETF 3.2 19 58 6.9 +1.2
BKEM BNY Mellon Emerging Markets Equity ETF 3.2 11 66 8.4 +2.7
EYLD Cambria Emerging Shareholder Yield ETF 3.2 66 11 13.2 +7.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 3.2 45 32 11.0 +5.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 3.2 15 62 7.2 +1.6
EDOG ALPS Emerging Sector Dividend Dogs ETF 3.2 60 17 13.4 +7.7
XCEM Columbia EM Core ex-China ETF 3.1 16 61 7.7 +2.0
EEM iShares MSCI Emerging Markets ETF 3.0 69 8 6.9 +1.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 3.0 66 11 10.0 +4.3
DEHP Dimensional Emerging Markets High Profitability ETF 3.0 41 36 5.0 -0.7
DEM WisdomTree Emerging Markets High Dividend Fund 2.9 63 14 18.9 +13.2
IEMG iShares Core MSCI Emerging Markets ETF 2.9 9 68 7.5 +1.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 2.9 41 36 7.4 +1.7
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 2.8 18 59 6.8 +1.2
SPEM SPDR Portfolio Emerging Markets ETF 2.8 7 70 7.3 +1.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.8 50 27 13.0 +7.3
AVEM Avantis Emerging Markets Equity ETF 2.8 33 44 8.9 +3.2
VWO Vanguard FTSE Emerging Markets ETF 2.8 8 69 6.9 +1.3
DFAE Dimensional Emerging Core Equity Market ETF 2.7 35 42 7.3 +1.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.7 58 19 10.2 +4.5
AVES Avantis Emerging Markets Value ETF 2.7 36 41 11.6 +5.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.7 59 18 11.3 +5.6
MINV Matthews Asia Innovators Active ETF 2.7 79 -2 3.0 -2.7
FTRI First Trust Indxx Global Natural Resources Income ETF 2.6 70 7 9.8 +4.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.6 44 33 10.6 +5.0
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.6 60 17 9.8 +4.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 2.5 38 39 7.8 +2.1
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.4 45 32 12.3 +6.6
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.3 65 12 8.2 +2.5
EVLU iShares MSCI Emerging Markets Value Factor ETF 2.1 35 42 12.4 +6.7
BIGFX Baron International Growth Retail 2.0 75 2 3.1 -2.5
ACWV iShares MSCI Global Min Vol Factor ETF 2.0 20 57 6.3 +0.7
OBOR KraneShares MSCI One Belt One Road Index ETF 2.0 79 -2 10.3 +4.6
NUEM Nuveen ESG Emerging Markets Equity ETF 1.9 36 41 6.5 +0.8
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.8 67 10 15.0 +9.4
DFEV Dimensional Emerging Markets Value ETF 1.8 43 34 11.1 +5.4
MEM Matthews Emerging Markets Equity Active ETF 1.8 79 -2 5.4 -0.3
PID Invesco International Dividend Achievers ETF 1.8 53 24 7.0 +1.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.7 20 57 6.8 +1.1
SCHY Schwab International Dividend Equity ETF 1.7 14 63 9.3 +3.7
TTAI FCF International Quality ETF 1.6 59 18 5.6 -0.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 1.5 39 38 12.5 +6.8
PXH Invesco FTSE RAFI Emerging Markets ETF 1.5 49 28 12.2 +6.6
EMC Global X Emerging Markets Great Consumer ETF 1.4 75 2 4.5 -1.2
FEM First Trust Emerging Markets AlphaDEX Fund 1.4 80 -3 13.0 +7.4
FTAG First Trust Indxx Global Agriculture ETF 1.4 70 7 9.7 +4.0
KDIV KraneShares S&P Pan Asia Dividend Aristocrats Index ETF 1.3 68 9 8.2 +2.6
LDEM iShares ESG MSCI EM Leaders ETF 1.3 17 60 7.6 +2.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.3 70 7 7.7 +2.0
DVYE iShares Emerging Markets Dividend ETF 1.3 49 28 18.8 +13.1
DGT SPDR Global Dow ETF 1.2 50 27 6.8 +1.1
INQQ India Internet & Ecommerce ETF 1.1 86 -9 2.6 -3.1
IPAV Global X Infrastructure Development ex-U.S. ETF 1.1 55 22 9.7 +4.0
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 30 12.9 +7.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.0 18 59 7.0 +1.3
IQDE FlexShares International Quality Dividend Defensive Index ET 1.0 47 30 14.8 +9.1
VEU Vanguard FTSE All-World ex-US Index Fund 1.0 8 69 7.3 +1.6
KOCG FIS Knights of Columbus Global Belief ETF 1.0 75 2 5.0 -0.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.9 34 43 7.0 +1.3
CWI SPDR MSCI ACWI ex-US ETF 0.9 30 47 6.9 +1.3
IXUS iShares Core MSCI Total International Stock ETF 0.9 7 70 7.2 +1.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.9 41 36 7.4 +1.7
VEGI iShares MSCI Agriculture Producers ETF 0.8 39 38 9.2 +3.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 30 9.4 +3.7
VXUS Vanguard Total International Stock ETF 0.8 7 70 7.2 +1.5
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 0.8 68 9 2.1 -3.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.7 42 35 8.1 +2.4
VSGX Vanguard ESG International Stock ETF 0.7 12 65 6.8 +1.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.7 30 47 8.0 +2.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.6 46 31 9.3 +3.7
XT iShares Exponential Technologies ETF 0.6 46 31 4.8 -0.9
GLOF iShares Global Equity Factor ETF 0.5 20 57 7.0 +1.3
APIE ActivePassive International Equity ETF 0.5 45 32 8.1 +2.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.5 12 65 4.8 -0.9
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.5 86 -9 1.2 -4.4
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.5 80 -3 12.3 +6.6
FVD First Trust Value Line Dividend Index Fund 0.5 65 12 6.3 +0.6
EWX SPDR S&P Emerging Markets Small Cap ETF 0.4 65 12 8.2 +2.5
FILL iShares MSCI Global Energy Producers ETF 0.4 39 38 9.6 +4.0
VYMI Vanguard International High Dividend Yield ETF 0.4 22 55 9.8 +4.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.4 29 48 8.7 +3.1
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.4 50 27 5.7 +0.1
DEW WisdomTree Global High Dividend Fund 0.4 58 19 8.5 +2.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.3 7 70 6.7 +1.0
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.3 12 65 8.3 +2.6
ACWI iShares MSCI ACWI ETF 0.3 32 45 5.3 -0.4
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 38 12.8 +7.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 57 5.2 -0.5
VT Vanguard Total World Stock ETF 0.3 7 70 5.5 -0.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 68 5.4 -0.3
KLMT Invesco MSCI Global Climate 500 ETF 0.3 10 67 5.4 -0.2
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 32 3.6 -2.1
RODE Hartford Multifactor Diversified International ETF 0.2 29 48 11.8 +6.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.2 86 -9 1.6 -4.0
SETM Sprott Energy Transition Materials ETF 0.1 65 12 6.0 +0.3

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 VanEck India Growth Leaders 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 16.4 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 77 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 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.