Global X Gold Explorers ETF
ALTAR
Score™
3.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
15.0x P/Sales
ratio
1.7x
P/BV
ratio
1.2x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X Gold Explorers ETF seeks to track the performance of the Solactive Global Gold Explorers Index.

FUND BASICS
Category Global Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Nov 04, 2010
Assets (mns) $46
Currency USD
Expense ratio 65 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 51
Wgt avg mkt cap (mns) $1,790
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 35.8%
Small cap (<$2bn) 64.3%
Developed mkts 96.1%
Emerging mkts 3.9%

TOP TEN HOLDINGS
SSR MINING INC 5.1 %
B2GOLD CORP 5.0 %
NOVAGOLD RESOURCES INC 4.9 %
CENTAMIN EGYPT LTD 4.8 %
ALAMOS GOLD INC 4.7 %
SARACEN MINERAL HOLDINGS LTD 4.4 %
ENDEAVOUR MINING CORPORATION 3.5 %
ELDORADO GOLD CORP 3.5 %
ALACER GOLD CORP 3.4 %
PRETIUM RESOURCES INC 3.2 %
Total 42.4 %

TOP COUNTRY EXPOSURE
CANADA 56.0 %
AUSTRALIA 21.0 %
BRITAIN 14.3 %
UNITED STATES 3.5 %
TURKEY 1.4 %
INDONESIA 1.0 %





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.
-1.0% 21.4% 18.3% -- -10.2%

Market Correlations
versus... Beta R-squared
S&P500 0.01 0%
MSCI EAFE 0.30 2%
MSCI Emg. Mkts. 0.41 7%

Technical Indicators
Recent close $27.47
30d moving avg. $25.90
Annualized volatility 23.4%
Short interest (ETF) 0.2%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.5%
Bid/Ask (% of price) 1.20%
ADV underlying (mns) $304

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: GOEX Expense: 65 bp ALTAR Score™: 3.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GOEX
Ticker Fund
Name
Overlap1
vs GOEX
(%)
Expense
ratio
(bp)
Savings
vs GOEX
(bp)
ALTAR
Score™
(%)
ALTAR
vs GOEX
(%)
SGDJ ALPS Sprott Junior Gold Miners ETF 46.0 50 15 3.7 +0.1
SGDM Sprott Gold Miners ETF 29.3 50 15 3.0 -0.5
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 28.4 60 5 2.4 -1.1
GDXJ VanEck Vectors Junior Gold Miners ETF 26.1 53 12 3.3 -0.2
RING iShares MSCI Global Gold Miners ETF 21.0 39 26 3.4 -0.1
SLVP iShares MSCI Global Silver Miners ETF 20.7 39 26 1.6 -2.0
GDX VanEck Vectors Gold Miners ETF 12.7 52 13 2.8 -0.7
SILJ ETFMG Prime Junior Silver ETF 10.7 69 -4 0.7 -2.9
SIL Global X Silver Miners ETF 10.2 65 0 2.8 -0.8
EGPT VanEck Vectors Egypt Index ETF 4.8 98 -33 10.3 +6.7
AIIQ AI Powered International Equity ETF 4.3 79 -14 5.1 +1.6
RSXJ VanEck Vectors Russia Small-Cap ETF 3.9 76 -11 15.8 +12.3
AVDV Avantis International Small Cap Value ETF 3.6 36 29 8.4 +4.8
XME SPDR S&P Metals & Mining ETF 3.5 35 30 3.4 -0.1
ARGT Global X MSCI Argentina ETF 3.1 59 6 7.0 +3.4
AGT iShares MSCI Argentina & Global Exposure ETF A 3.1 59 6 6.9 +3.4
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 2.8 40 25 7.7 +4.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.3 80 -15 10.9 +7.3
SCHC Schwab International Small-Cap Equity ETF 2.3 12 53 6.8 +3.3
GWX SPDR S&P International Small Cap ETF 1.9 40 25 5.8 +2.2

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%.

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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:
Global X Gold Explorers 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 5.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 3.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.37 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.