VanEck India Growth Leaders ETF
ALTAR
Score™		 5.3% info Recommen-
dation		 UNDERWEIGHT
2025E    2026E
P/E
ratio		 17.8x P/Sales
ratio		 4.3x
P/BV
ratio		 3.3x Div.
yield		 2.0%


  • 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) $100
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 84
Wgt avg mkt cap (mns) $41,754
Large cap (>$10bn) 73.8%
Mid cap ($2-10bn) 24.2%
Small cap (<$2bn) 2.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
HDFC ASSET MANAGEMENT CO. LTD. 7.0 %
BSE LTD 5.7 %
BHARTI AIRTEL LIMITED 5.0 %
EICHER MOTORS LTD 4.8 %
STATE BANK OF INDIA 4.7 %
TRENT LTD 4.5 %
BHARAT ELECTRONICS LIMITED 4.5 %
HINDUSTAN AERONAUTICS LIMITED 4.4 %
HERO HONDA MOTORS LIMITED 4.2 %
SUZLON ENERGY LIMITED 3.7 %
Total 48.5 %

TOP COUNTRY EXPOSURE
INDIA 80.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.0% -4.6% 5.1% 1.6% -3.1%

Market Correlations
versus... Beta R-squared
S&P500 0.48 24%
MSCI EAFE 0.62 35%
MSCI Emg. Mkts. 0.56 37%

Technical Indicators
Recent close $44.92
30d moving avg. $42.56
Annualized volatility 17.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 57
Turnover 2.6%
Bid/Ask (% of price) 0.64%
ADV underlying (mns) $397

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 123 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™: 5.3%


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
(%)
INCO Columbia India Consumer ETF 12.1 75 2 2.1 -3.2
INDA iShares MSCI India ETF 11.6 65 12 4.4 -0.9
EPI WisdomTree India Earnings Fund 11.5 85 -8 4.9 -0.3
FLIN Franklin FTSE India ETF 10.3 19 58 4.0 -1.3
NFTY First Trust India NIFTY 50 Equal Weight ETF 9.7 80 -3 4.8 -0.5
PIN Invesco India ETF 8.4 78 -1 4.7 -0.6
JIVE JPMorgan International Value ETF 7.9 55 22 8.3 +3.1
NDIA Global X India Active ETF 7.1 75 2 4.8 -0.5
DGIN VanEck Digital India ETF 5.9 71 6 1.5 -3.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 4.3 60 17 6.3 +1.1
SMIN iShares MSCI India Small Cap ETF 3.5 79 -2 3.5 -1.8
BKF iShares MSCI BIC ETF 3.5 69 8 13.6 +8.3
EMMF WisdomTree Emerging Markets Multifactor Fund 3.5 48 29 8.9 +3.7
RNEM First Trust Emerging Markets Equity Select ETF 3.4 75 2 7.6 +2.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.3 95 -18 10.4 +5.1
NUEM Nuveen ESG Emerging Markets Equity ETF 3.2 36 41 6.2 +0.9
DEHP Dimensional Emerging Markets High Profitability ETF 3.2 41 36 5.1 -0.1
FDEM Fidelity Emerging Markets Multifactor ETF 3.1 25 52 10.7 +5.4
ROAM Hartford Multifactor Emerging Markets ETF 3.1 44 33 7.9 +2.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 3.0 40 37 6.5 +1.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 3.0 32 45 5.1 -0.2
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.9 45 32 9.3 +4.1
EMC Global X Emerging Markets Great Consumer ETF 2.9 75 2 7.5 +2.3
XC WisdomTree Emerging Markets Ex-China Fund 2.6 32 45 6.0 +0.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.6 24 53 5.7 +0.4
JADE JPMorgan Active Developing Markets Equity ETF 2.6 65 12 6.2 +1.0
XCNY SPDR S&P Emerging Markets ex-China ETF 2.5 15 62 5.8 +0.6
VEXC Vanguard Emerging Markets Ex-China ETF 2.5 7 70 5.9 +0.6
ECON Columbia Emerging Markets Consumer ETF 2.5 49 28 7.2 +2.0
JHEM John Hancock Multifactor Emerging Markets ETF 2.3 49 28 7.9 +2.6
XCEM Columbia EM Core ex-China ETF 2.2 16 61 5.3 +0.1
ICLN iShares Global Clean Energy ETF 2.2 41 36 1.9 -3.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 2.2 47 30 5.0 -0.3
EEMO Invesco S&P Emerging Markets Momentum ETF 2.1 29 48 7.4 +2.1
AVES Avantis Emerging Markets Value ETF 2.1 36 41 8.9 +3.7
GMF SPDR S&P Emerging Asia Pacific ETF 2.1 49 28 9.0 +3.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.1 45 32 8.4 +3.2
STXE Strive Emerging Markets Ex-China ETF 2.0 32 45 5.7 +0.5
MEM Matthews Emerging Markets Equity Active ETF 2.0 79 -2 8.9 +3.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 2.0 53 24 5.5 +0.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.0 30 47 7.9 +2.7
FLAX Franklin FTSE Asia Ex Japan ETF 1.9 19 58 7.6 +2.3
EMXC iShares MSCI Emerging Markets ex China ETF 1.9 25 52 5.5 +0.2
EEMA iShares MSCI Emerging Markets Asia ETF 1.9 49 28 8.1 +2.8
EMGF iShares Emerging Markets Equity Factor ETF 1.9 25 52 9.3 +4.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.8 25 52 6.4 +1.2
AVSE Avantis Responsible Emerging Markets Equity ETF 1.8 33 44 7.0 +1.8
CGXU Capital Group International Focus Equity ETF 1.7 54 23 4.0 -1.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.7 15 62 8.3 +3.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.7 70 7 7.4 +2.2
SCHE Schwab Emerging Markets Equity ETF 1.7 11 66 9.5 +4.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.7 66 11 7.6 +2.3
VWO Vanguard FTSE Emerging Markets ETF 1.7 7 70 9.2 +3.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.7 20 57 8.7 +3.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.6 15 62 9.2 +4.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.6 36 41 7.9 +2.6
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.6 41 36 7.0 +1.8
BKEM BNY Mellon Emerging Markets Equity ETF 1.6 11 66 8.2 +3.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.6 50 27 8.5 +3.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.5 30 47 8.4 +3.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.5 32 45 7.8 +2.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.5 38 39 7.2 +2.0
MINV Matthews Asia Innovators Active ETF 1.5 79 -2 6.0 +0.8
DFAE Dimensional Emerging Core Equity Market ETF 1.5 35 42 7.2 +2.0
EEM iShares MSCI Emerging Markets ETF 1.4 69 8 8.2 +2.9
EYLD Cambria Emerging Shareholder Yield ETF 1.4 66 11 9.2 +4.0
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.4 33 44 7.0 +1.8
IEMG iShares Core MSCI Emerging Markets ETF 1.4 9 68 8.5 +3.2
DFEV Dimensional Emerging Markets Value ETF 1.4 43 34 10.0 +4.7
AVXC Avantis Emerging Markets Ex-China Equity ETF 1.4 33 44 6.5 +1.3
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -11 8.6 +3.4
SPEM SPDR Portfolio Emerging Markets ETF 1.3 7 70 9.5 +4.3
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.2 35 42 11.4 +6.2
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.2 75 2 6.5 +1.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.2 59 18 8.7 +3.5
AVEM Avantis Emerging Markets Equity ETF 1.2 33 44 7.3 +2.1
KNCT Invesco Next Gen Connectivity ETF 1.0 40 37 3.7 -1.5
EMXF iShares ESG Advanced MSCI EM ETF 1.0 16 61 7.2 +1.9
IPAV Global X Infrastructure Development ex-U.S. ETF 0.9 55 22 5.6 +0.4
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.9 58 19 8.2 +3.0
LDEM iShares ESG MSCI EM Leaders ETF 0.8 17 60 12.2 +6.9
ACWV iShares MSCI Global Min Vol Factor ETF 0.8 20 57 5.7 +0.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.7 70 7 6.4 +1.1
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 30 7.6 +2.4
CGGO Capital Group Global Growth Equity ETF 0.7 47 30 4.3 -0.9
PXH Invesco FTSE RAFI Emerging Markets ETF 0.7 49 28 13.4 +8.1
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.7 42 35 7.5 +2.3
ESGE iShares ESG Aware MSCI EM ETF 0.7 25 52 8.6 +3.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.7 39 38 13.6 +8.3
SDG iShares MSCI Global Sustainable Development Goals ETF 0.7 49 28 4.6 -0.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.6 42 35 4.0 -1.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 47 6.4 +1.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.5 18 59 6.4 +1.2
SCHY Schwab International Dividend Equity ETF 0.5 14 63 8.1 +2.9
VSGX Vanguard ESG International Stock ETF 0.5 10 67 6.7 +1.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.5 12 65 4.6 -0.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.5 4 73 6.8 +1.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.5 34 43 6.4 +1.2
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 47 6.5 +1.2
VXUS Vanguard Total International Stock ETF 0.4 5 72 6.7 +1.4
IXUS iShares Core MSCI Total International Stock ETF 0.4 7 70 6.6 +1.4
FTAG First Trust Indxx Global Agriculture ETF 0.4 70 7 6.6 +1.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 36 6.1 +0.9
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 38 7.8 +2.6
NXTG First Trust Indxx NextG ETF 0.4 70 7 4.4 -0.9
INQQ India Internet & Ecommerce ETF 0.4 86 -9 0.6 -4.7
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 14 10.6 +5.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.3 44 33 9.1 +3.9
SETM Sprott Energy Transition Materials ETF 0.3 65 12 1.5 -3.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 57 4.9 -0.4
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 59 0.0 -5.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.2 47 30 7.4 +2.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 8 69 6.2 +1.0
IGRO iShares International Dividend Growth ETF 0.2 15 62 6.7 +1.4
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 12 6.5 +1.3
GLOF iShares Global Equity Factor ETF 0.2 20 57 5.8 +0.5
ACWI iShares MSCI ACWI ETF 0.2 32 45 4.8 -0.4
VT Vanguard Total World Stock ETF 0.2 6 71 5.2 -0.1
VEGI iShares MSCI Agriculture Producers ETF 0.2 39 38 7.2 +1.9
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 67 5.2 -0.1
VYMI Vanguard International High Dividend Yield ETF 0.1 17 60 7.9 +2.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 68 5.0 -0.2
DEW WisdomTree Global High Dividend Fund 0.0 58 19 7.3 +2.0

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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 19.2 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 77 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.56 CATEGORY
AVERAGE		 1.52
 
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.