Global X MSCI Greece ETF
ALTAR
Score™		 11.0% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 10.3x P/Sales
ratio		 1.2x
P/BV
ratio		 1.3x Div.
yield		 2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X MSCI Greece ETF is an exchange traded fund incorporated in USA. The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Greece Select 25/50 Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Dec 07, 2011
Assets (mns) $302
Currency USD
Expense ratio 57 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 28
Wgt avg mkt cap (mns) $5,819
Large cap (>$10bn) 12.3%
Mid cap ($2-10bn) 70.2%
Small cap (<$2bn) 12.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NATIONAL BANK OF GREECE S.A. 16.3 %
EUROBANK ERGASIAS SA 12.2 %
PIRAEUS BANK S.A. 10.6 %
ALPHA SERVICES A 10.2 %
JUMBO SA 4.3 %
PUBLIC POWER CORP 4.1 %
OPAP SA 3.8 %
HELLENIC TELECOMMUNICATIONS ORGANI 3.7 %
MOTOR OIL (HELLAS) SA 3.3 %
OPTIMA BANK SA 3.1 %
Total 71.6 %

TOP COUNTRY EXPOSURE
GREECE 92.5 %
BELGIUM 2.9 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 29)
Year-to-date 1 year 5 years 10 years Since Incep.
62.6% 57.1% 28.6% 11.4% 4.6%

Market Correlations
versus... Beta R-squared
S&P500 0.72 25%
MSCI EAFE 0.74 30%
MSCI Emg. Mkts. 0.53 17%

Technical Indicators
Recent close $63.09
30d moving avg. $63.18
Annualized volatility 22.0%
Short interest (ETF) 0.6%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 102
Turnover 2.1%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $62

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 109 potential alternatives to the Global X MSCI Greece ETF ETF based on the alternatives' overlap in portfolio holdings with GREK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GREK Expense: 57 bp ALTAR Score™: 11.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GREK
Ticker Fund
Name		 Overlap1
vs GREK
(%)		 Expense
ratio
(bp)		 Savings
vs GREK
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GREK
(%)
FEUZ First Trust Eurozone AlphaDEX ETF 4.0 80 -23 9.1 -1.9
BETZ Roundhill Sports Betting & iGaming ETF 4.0 75 -18 2.5 -8.5
EYLD Cambria Emerging Shareholder Yield ETF 3.7 66 -9 12.4 +1.4
SDIV Global X Superdividend ETF 3.1 58 -1 41.0 +29.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 3.1 80 -23 5.0 -6.0
RFEU First Trust Riverfront Dynamic Europe ETF 3.0 83 -26 10.7 -0.4
BJK VanEck Gaming ETF 2.7 65 -8 3.9 -7.1
FEP First Trust Europe AlphaDEX Fund 2.6 80 -23 9.2 -1.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.3 29 28 9.3 -1.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.2 44 13 10.7 -0.3
CRAK VanEck Oil Refiners ETF 2.2 61 -4 13.8 +2.8
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.2 67 -10 13.7 +2.7
FTHF First Trust Emerging Markets Human Flourishing ETF 2.1 75 -18 8.7 -2.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.0 70 -13 4.8 -6.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.0 60 -3 8.2 -2.8
EMM Global X Emerging Markets ex-China ETF 1.9 75 -18 6.6 -4.4
EMC Global X Emerging Markets Great Consumer ETF 1.7 75 -18 11.1 +0.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.6 95 -38 11.9 +0.9
DVYE iShares Emerging Markets Dividend ETF 1.4 49 8 18.6 +7.6
RFDI First Trust Riverfront Dynamic Developed International ETF 1.3 83 -26 9.4 -1.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.3 70 -13 13.2 +2.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.1 25 32 6.6 -4.4
EDIV SPDR S&P Emerging Markets Dividend ETF 1.1 49 8 12.0 +0.9
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.0 80 -23 9.7 -1.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.0 45 12 10.6 -0.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.0 30 27 9.3 -1.7
EMXF iShares ESG Advanced MSCI EM ETF 0.9 16 41 8.7 -2.4
EMGF iShares Emerging Markets Equity Factor ETF 0.9 25 32 11.9 +0.9
LDEM iShares ESG MSCI EM Leaders ETF 0.9 17 40 14.1 +3.1
DFEV Dimensional Emerging Markets Value ETF 0.9 43 14 13.5 +2.5
XCNY SPDR S&P Emerging Markets ex-China ETF 0.8 15 42 7.9 -3.1
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.8 53 4 8.0 -3.0
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.8 33 24 10.3 -0.8
BCDF Horizon Kinetics Blockchain Development ETF 0.8 85 -28 4.1 -6.9
EMXC iShares MSCI Emerging Markets ex China ETF 0.8 25 32 7.9 -3.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.8 65 -8 7.8 -3.2
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 10 9.0 -2.0
FDEM Fidelity Emerging Markets Multifactor ETF 0.8 25 32 13.0 +2.0
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.8 88 -31 9.0 -2.1
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.7 70 -13 7.8 -3.2
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.7 60 -3 11.1 +0.1
SCHE Schwab Emerging Markets Equity ETF 0.7 11 46 11.1 +0.1
VWO Vanguard FTSE Emerging Markets ETF 0.7 7 50 10.3 -0.7
NUEM Nuveen ESG Emerging Markets Equity ETF 0.7 36 21 8.1 -2.9
BOAT SonicShares Global Shipping ETF 0.6 69 -12 27.6 +16.6
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.6 42 15 9.8 -1.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 16 8.8 -2.3
ABLG Abacus FCF International Leaders ETF 0.6 59 -2 6.9 -4.1
SPEM SPDR Portfolio Emerging Markets ETF 0.6 7 50 10.7 -0.3
ESGE iShares ESG Aware MSCI EM ETF 0.6 25 32 10.4 -0.6
UIVM VictoryShares International Value Momentum ETF 0.6 35 22 9.0 -2.1
IEMG iShares Core MSCI Emerging Markets ETF 0.6 9 48 10.7 -0.3
TTAI FCF International Quality ETF 0.6 59 -2 7.2 -3.8
DFAE Dimensional Emerging Core Equity Market ETF 0.6 35 22 9.5 -1.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.5 59 -2 9.0 -2.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.5 30 27 10.7 -0.4
EEM iShares MSCI Emerging Markets ETF 0.5 69 -12 10.5 -0.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 19 9.4 -1.7
BNGE First Trust S-Network Streaming and Gaming ETF 0.5 70 -13 2.7 -8.4
WWJD Inspire International ETF 0.5 80 -23 7.3 -3.7
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 42 8.1 -2.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 21 10.0 -1.0
AVEM Avantis Emerging Markets Equity ETF 0.5 33 24 8.8 -2.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 46 10.2 -0.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.4 66 -9 9.8 -1.3
EEMO Invesco S&P Emerging Markets Momentum ETF 0.4 29 28 6.7 -4.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 42 10.4 -0.6
AVES Avantis Emerging Markets Value ETF 0.4 36 21 11.2 +0.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.4 50 7 11.2 +0.1
VYMI Vanguard International High Dividend Yield ETF 0.4 17 40 9.6 -1.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.4 33 24 8.9 -2.1
DEHP Dimensional Emerging Markets High Profitability ETF 0.4 41 16 6.8 -4.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.3 35 22 18.7 +7.7
XCEM Columbia EM Core ex-China ETF 0.3 16 41 8.5 -2.5
IPAV Global X Infrastructure Development ex-U.S. ETF 0.3 55 2 7.8 -3.2
ECON Columbia Emerging Markets Consumer ETF 0.3 49 8 12.7 +1.7
STXE Strive Emerging Markets Ex-China ETF 0.3 32 25 8.0 -3.0
GLOF iShares Global Equity Factor ETF 0.3 20 37 6.5 -4.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.3 39 18 16.5 +5.5
BLES Inspire Global Hope ETF 0.3 61 -4 6.8 -4.2
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 53 8.2 -2.9
AVSE Avantis Responsible Emerging Markets Equity ETF 0.2 33 24 8.6 -2.4
VXUS Vanguard Total International Stock ETF 0.2 5 52 8.0 -3.1
VSGX Vanguard ESG International Stock ETF 0.2 10 47 7.7 -3.3
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 50 8.0 -3.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 27 7.9 -3.1
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 23 7.8 -3.2
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 27 7.7 -3.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 16 7.5 -3.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 39 7.9 -3.1
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 47 5.8 -5.3
FILL iShares MSCI Global Energy Producers ETF 0.1 39 18 11.5 +0.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 33 8.3 -2.7
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 37 6.2 -4.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 47 8.0 -3.0
VT Vanguard Total World Stock ETF 0.1 6 51 5.9 -5.1
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 45 8.1 -2.9
IWTR iShares MSCI Water Management Multisector ETF 0.1 47 10 5.8 -5.2
ACWI iShares MSCI ACWI ETF 0.1 32 25 5.6 -5.4
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -32 4.8 -6.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 18 5.3 -5.7
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 45 5.2 -5.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 8 49 6.1 -4.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.0 49 8 6.9 -4.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 37 5.7 -5.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 48 5.7 -5.3
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.0 45 12 10.8 -0.3
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.0 80 -23 10.6 -0.4
GVAL Cambria Global Value ETF 0.0 68 -11 10.5 -0.5

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:		 Global X MSCI Greece ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 57 bp
Equals: ALTAR Score 11.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.51 CATEGORY
AVERAGE		 1.51
 
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.