VanEck India Growth Leaders ETF
ALTAR
Score™		 5.4% info Recommen-
dation		 UNDERWEIGHT
2024E    2025E
P/E
ratio		 15.0x P/Sales
ratio		 3.4x
P/BV
ratio		 3.0x 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) $136
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) $32,536
Large cap (>$10bn) 71.8%
Mid cap ($2-10bn) 22.4%
Small cap (<$2bn) 5.8%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
CHENNAI SUPER KINGS CRICKET LTD 10.1 %
PERSISTENT SYSTEMS LIMITED 6.3 %
BAJAJ AUTO LIMITED 5.2 %
ICICI BANK LTD 4.8 %
INDUSIND BANK LIMITED 4.7 %
STATE BANK OF INDIA 4.7 %
TATA CONSULTANCY SVS LTD 4.7 %
COAL INDIA LTD 4.7 %
DR. REDDY'S LABORATORIES 4.7 %
HCL TECHNOLOGIES LTD 4.4 %
Total 54.4 %

TOP COUNTRY EXPOSURE
INDIA 90.0 %










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.
8.0% 49.5% 2.3% 3.8% -2.7%

Market Correlations
versus... Beta R-squared
S&P500 0.75 55%
MSCI EAFE 0.72 47%
MSCI Emg. Mkts. 0.49 23%

Technical Indicators
Recent close $47.22
30d moving avg. $41.10
Annualized volatility 17.9%
Short interest (ETF) 1.2%
Relative strength (RSI) 83

Liquidity measures
Avg. volume (thou.) 23
Turnover 0.8%
Bid/Ask (% of price) 0.61%
ADV underlying (mns) $717

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 135 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™: 5.4%


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
(%)
DGIN VanEck Digital India ETF 24.8 71 6 1.6 -3.7
EPI WisdomTree India Earnings Fund 22.8 85 -8 6.7 +1.3
NFTY First Trust India NIFTY 50 Equal Weight ETF 19.9 80 -3 6.2 +0.8
INDY iShares India 50 ETF 18.4 89 -12 3.7 -1.6
INDA iShares MSCI India ETF 15.7 65 12 3.7 -1.7
INDF Nifty India Financials ETF 13.8 75 2 6.0 +0.7
FLIN Franklin FTSE India ETF 13.2 19 58 5.2 -0.1
PIN Invesco India ETF 12.7 78 -1 3.8 -1.6
INCO Columbia India Consumer ETF 11.8 75 2 1.6 -3.7
NDIA Global X India Active ETF 10.3 75 2 6.5 +1.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 7.9 95 -18 11.4 +6.1
RNEM First Trust Emerging Markets Equity Select ETF 7.7 75 2 8.3 +2.9
FDEM Fidelity Emerging Markets Multifactor ETF 7.4 25 52 12.0 +6.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 6.9 40 37 7.2 +1.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.4 24 53 7.2 +1.8
EEMO Invesco S&P Emerging Markets Momentum ETF 6.3 29 48 6.2 +0.8
BKF iShares MSCI BIC ETF 5.8 69 8 7.1 +1.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 5.5 30 47 8.6 +3.2
SMIN iShares MSCI India Small Cap ETF 5.3 79 -2 4.3 -1.0
STXE Strive Emerging Markets Ex-China ETF 5.1 32 45 6.9 +1.5
EMMF WisdomTree Emerging Markets Multifactor Fund 5.1 48 29 9.4 +4.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.0 32 45 7.6 +2.2
MEM Matthews Emerging Markets Equity Active ETF 4.7 79 -2 5.7 +0.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 4.7 88 -11 6.2 +0.9
CIBR First Trust NASDAQ Cybersecurity ETF 4.3 60 17 3.9 -1.5
EMGF iShares Emerging Markets Equity Factor ETF 4.3 25 52 8.7 +3.3
ROAM Hartford Multifactor Emerging Markets ETF 4.3 44 33 11.8 +6.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 4.1 15 62 7.1 +1.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 4.1 25 52 7.0 +1.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 4.0 60 17 10.0 +4.7
JHEM John Hancock Multifactor Emerging Markets ETF 4.0 49 28 8.4 +3.0
MINV Matthews Asia Innovators Active ETF 4.0 79 -2 2.8 -2.5
EMXC iShares MSCI Emerging Markets ex China ETF 3.9 25 52 6.7 +1.3
GMF SPDR S&P Emerging Asia Pacific ETF 3.9 49 28 6.4 +1.0
NXTG First Trust Indxx NextG ETF 3.9 70 7 6.0 +0.6
EEMA iShares MSCI Emerging Markets Asia ETF 3.7 49 28 6.7 +1.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 3.7 33 44 7.2 +1.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 3.4 70 7 6.3 +1.0
XC WisdomTree Emerging Markets Ex-China Fund 3.4 32 45 6.2 +0.8
EMXF iShares ESG Advanced MSCI EM ETF 3.4 16 61 7.5 +2.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.4 30 47 7.5 +2.2
EYLD Cambria Emerging Shareholder Yield ETF 3.3 66 11 12.2 +6.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 3.3 36 41 7.5 +2.1
BKEM BNY Mellon Emerging Markets Equity ETF 3.3 11 66 7.7 +2.4
AVES Avantis Emerging Markets Value ETF 3.2 36 41 12.2 +6.8
SDEM Global X MSCI SuperDividend Emerging Markets ETF 3.2 67 10 17.5 +12.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 3.1 60 17 14.8 +9.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 3.0 45 32 8.6 +3.3
FLAX Franklin FTSE Asia Ex Japan ETF 3.0 19 58 7.2 +1.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 3.0 20 57 7.5 +2.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.9 66 11 7.2 +1.9
AVEM Avantis Emerging Markets Equity ETF 2.9 33 44 9.1 +3.8
EEM iShares MSCI Emerging Markets ETF 2.9 69 8 7.0 +1.6
SCHE Schwab Emerging Markets Equity ETF 2.9 11 66 7.6 +2.2
EMDM First Trust Bloomberg Emerging Market Democracies ETF 2.8 75 2 9.6 +4.2
IEMG iShares Core MSCI Emerging Markets ETF 2.7 9 68 7.5 +2.2
FTRI First Trust Indxx Global Natural Resources Income ETF 2.7 70 7 10.7 +5.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 2.6 41 36 7.8 +2.5
VWO Vanguard FTSE Emerging Markets ETF 2.6 8 69 7.6 +2.2
SPEM SPDR Portfolio Emerging Markets ETF 2.6 7 70 7.5 +2.2
ESGE iShares ESG Aware MSCI EM ETF 2.6 25 52 7.7 +2.4
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.6 65 12 8.4 +3.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.5 32 45 6.3 +0.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.5 59 18 9.6 +4.2
DEHP Dimensional Emerging Markets High Profitability ETF 2.5 41 36 7.3 +1.9
LDEM iShares ESG MSCI EM Leaders ETF 2.5 17 60 7.8 +2.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 2.4 38 39 8.3 +2.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.4 50 27 10.6 +5.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.4 44 33 10.4 +5.0
DEM WisdomTree Emerging Markets High Dividend Fund 2.4 63 14 12.9 +7.6
FEM First Trust Emerging Markets AlphaDEX Fund 2.4 80 -3 16.4 +11.1
DFAE Dimensional Emerging Core Equity Market ETF 2.4 35 42 7.7 +2.4
DFEV Dimensional Emerging Markets Value ETF 2.3 43 34 10.9 +5.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.2 58 19 10.2 +4.8
OBOR KraneShares MSCI One Belt One Road Index ETF 2.1 79 -2 10.4 +5.0
XCEM Columbia EM Core ex-China ETF 2.0 16 61 7.4 +2.0
IQDE FlexShares International Quality Dividend Defensive Index ET 1.8 47 30 10.7 +5.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 30 10.2 +4.9
PXH Invesco FTSE RAFI Emerging Markets ETF 1.8 49 28 12.5 +7.1
EMC Global X Emerging Markets Great Consumer ETF 1.8 75 2 4.9 -0.5
ACWV iShares MSCI Global Min Vol Factor ETF 1.7 20 57 6.7 +1.3
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 1.7 18 59 7.9 +2.5
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 1.6 68 9 5.2 -0.1
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.5 70 7 7.3 +1.9
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.5 45 32 12.8 +7.5
FTAG First Trust Indxx Global Agriculture ETF 1.4 70 7 9.1 +3.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 1.4 39 38 12.6 +7.2
ECON Columbia Emerging Markets Consumer ETF 1.4 49 28 4.8 -0.6
PID Invesco International Dividend Achievers ETF 1.3 53 24 6.7 +1.4
DVYE iShares Emerging Markets Dividend ETF 1.3 49 28 16.6 +11.3
SCHY Schwab International Dividend Equity ETF 1.3 14 63 9.3 +3.9
EMM Global X Emerging Markets ex-China ETF 1.2 75 2 3.7 -1.7
DGT SPDR Global Dow ETF 1.2 50 27 6.6 +1.3
INQQ India Internet & Ecommerce ETF 1.1 86 -9 10.8 +5.4
EWX SPDR S&P Emerging Markets Small Cap ETF 1.1 65 12 7.7 +2.4
KDIV KraneShares S&P Pan Asia Dividend Aristocrats Index ETF 1.0 68 9 8.8 +3.5
VIGI Vanguard International Dividend Appreciation ETF 1.0 15 62 5.5 +0.2
TTAI FCF International Quality ETF 1.0 59 18 7.3 +2.0
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 30 10.7 +5.3
KOCG FIS Knights of Columbus Global Belief ETF 0.9 75 2 5.3 -0.1
EDIV SPDR S&P Emerging Markets Dividend ETF 0.8 49 28 11.0 +5.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.8 41 36 6.6 +1.3
GTEK Goldman Sachs Future Tech Leaders Equity ETF 0.8 75 2 3.2 -2.2
ACWX iShares MSCI ACWI ex U.S. ETF 0.8 34 43 6.7 +1.3
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.8 86 -9 1.9 -3.4
NUEM Nuveen ESG Emerging Markets Equity ETF 0.8 36 41 6.8 +1.5
IXUS iShares Core MSCI Total International Stock ETF 0.8 7 70 6.9 +1.6
CWI SPDR MSCI ACWI ex-US ETF 0.8 30 47 6.8 +1.5
VEGI iShares MSCI Agriculture Producers ETF 0.8 39 38 9.2 +3.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.8 42 35 6.8 +1.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.8 8 69 7.2 +1.8
VXUS Vanguard Total International Stock ETF 0.7 7 70 7.1 +1.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.7 30 47 7.8 +2.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 0.7 20 57 10.7 +5.4
VSGX Vanguard ESG International Stock ETF 0.6 12 65 6.8 +1.5
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.6 46 31 8.9 +3.5
FVD First Trust Value Line Dividend Index Fund 0.6 65 12 6.0 +0.6
XT iShares Exponential Technologies ETF 0.5 46 31 3.8 -1.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.5 7 70 6.5 +1.2
VYMI Vanguard International High Dividend Yield ETF 0.4 22 55 9.7 +4.3
DEW WisdomTree Global High Dividend Fund 0.4 58 19 9.0 +3.7
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 38 11.0 +5.7
APIE ActivePassive International Equity ETF 0.4 45 32 7.7 +2.3
GLOF iShares Global Equity Factor ETF 0.4 20 57 7.0 +1.7
ACWI iShares MSCI ACWI ETF 0.3 32 45 5.5 +0.1
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.3 50 27 5.8 +0.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 65 5.0 -0.3
FILL iShares MSCI Global Energy Producers ETF 0.3 39 38 9.0 +3.7
VT Vanguard Total World Stock ETF 0.3 7 70 5.8 +0.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 57 5.6 +0.2
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.2 86 -9 1.9 -3.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 68 5.7 +0.3
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 32 3.3 -2.0
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.2 80 -3 14.2 +8.9
RODE Hartford Multifactor Diversified International ETF 0.1 29 48 11.5 +6.2

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 17.6 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 77 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.48 CATEGORY
AVERAGE		 1.39
 
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.