Global X MSCI Greece ETF
ALTAR
Score™		 -1.6% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 6.9x P/Sales
ratio		 0.9x
P/BV
ratio		 0.9x Div.
yield		 4.0%


  • 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) $187
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 29
Wgt avg mkt cap (mns) $4,322
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 79.7%
Small cap (<$2bn) 19.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NATIONAL BANK OF GREECE S.A. 13.4 %
EUROBANK ERGASIAS SA 11.3 %
ALPHA BANK AE 8.5 %
MYTILINEOS HOLDINGS S.A. 8.3 %
PIRAEUS BANK S.A. 6.5 %
HELLENIC TELECOMMUNICATIONS ORGANI 4.5 %
OPAP SA 4.4 %
MOTOR OIL (HELLAS) SA 4.3 %
PUBLIC POWER CORP 4.3 %
JUMBO SA 4.2 %
Total 69.5 %

TOP COUNTRY EXPOSURE
GREECE 96.0 %
BELGIUM 3.2 %









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.
8.3% 35.6% 13.5% -3.9% 1.4%

Market Correlations
versus... Beta R-squared
S&P500 0.83 40%
MSCI EAFE 0.92 46%
MSCI Emg. Mkts. 0.73 31%

Technical Indicators
Recent close $38.49
30d moving avg. $36.47
Annualized volatility 23.2%
Short interest (ETF) 1.7%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 35
Turnover 0.7%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $119

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 103 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™: -1.6%


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 4.4 80 -23 8.6 +10.2
EEMD AAM S&P Emerging Markets High Dividend Value ETF 3.6 49 8 19.2 +20.8
WNDY Global X Wind Energy ETF 3.0 50 7 5.2 +6.8
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.8 67 -10 17.2 +18.8
BETZ Roundhill Sports Betting & iGaming ETF 2.6 75 -18 1.9 +3.5
FEP First Trust Europe AlphaDEX Fund 2.4 80 -23 8.9 +10.5
AADR AdvisorShares Dorsey Wright ADR ETF 2.1 110 -53 5.4 +7.1
BJK VanEck Gaming ETF 1.9 65 -8 1.9 +3.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.9 88 -31 6.3 +7.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.9 44 13 10.4 +12.0
RNRG Global X Renewable Energy Producers ETF 1.9 66 -9 5.0 +6.6
FAN First Trust Global Wind Energy ETF 1.7 60 -3 5.6 +7.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.6 60 -3 10.0 +11.7
CRAK VanEck Oil Refiners ETF 1.6 61 -4 13.3 +15.0
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.6 80 -23 5.7 +7.4
EMM Global X Emerging Markets ex-China ETF 1.4 75 -18 3.7 +5.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.4 95 -38 11.6 +13.3
EMC Global X Emerging Markets Great Consumer ETF 1.2 75 -18 5.0 +6.6
DVYE iShares Emerging Markets Dividend ETF 1.1 49 8 16.8 +18.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.1 70 -13 11.4 +13.0
IQDE FlexShares International Quality Dividend Defensive Index ET 1.1 47 10 10.9 +12.5
RFEU First Trust Riverfront Dynamic Europe ETF 1.0 83 -26 9.0 +10.6
EEMO Invesco S&P Emerging Markets Momentum ETF 1.0 29 28 6.3 +7.9
SDIV Global X Superdividend ETF 0.9 58 -1 18.1 +19.7
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.9 18 39 8.0 +9.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.9 60 -3 1.0 +2.7
UIVM VictoryShares International Value Momentum ETF 0.8 35 22 10.8 +12.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.8 45 12 8.7 +10.3
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.8 29 28 8.3 +10.0
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 10 10.9 +12.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 10 10.4 +12.0
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.7 80 -23 10.9 +12.5
ESGE iShares ESG Aware MSCI EM ETF 0.7 25 32 7.8 +9.5
EMXF iShares ESG Advanced MSCI EM ETF 0.7 16 41 7.6 +9.2
TTAI FCF International Quality ETF 0.7 59 -2 7.4 +9.1
ECON Columbia Emerging Markets Consumer ETF 0.7 49 8 4.9 +6.5
RFDI First Trust Riverfront Dynamic Developed International ETF 0.7 83 -26 9.2 +10.8
EMGF iShares Emerging Markets Equity Factor ETF 0.7 25 32 8.8 +10.4
AVES Avantis Emerging Markets Value ETF 0.6 36 21 12.3 +13.9
SCHE Schwab Emerging Markets Equity ETF 0.6 11 46 7.7 +9.4
FDEM Fidelity Emerging Markets Multifactor ETF 0.6 25 32 12.1 +13.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.6 30 27 8.7 +10.3
NUEM Nuveen ESG Emerging Markets Equity ETF 0.6 36 21 6.9 +8.6
EMXC iShares MSCI Emerging Markets ex China ETF 0.6 25 32 6.7 +8.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.6 70 -13 7.3 +8.9
DFEV Dimensional Emerging Markets Value ETF 0.6 43 14 11.1 +12.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.5 25 32 7.1 +8.7
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 24 7.3 +8.9
EWX SPDR S&P Emerging Markets Small Cap ETF 0.5 65 -8 7.7 +9.4
AVEM Avantis Emerging Markets Equity ETF 0.5 33 24 9.3 +10.9
WWJD Inspire International ETF 0.5 80 -23 7.2 +8.9
SCAP InfraCap Small Cap Income ETF 0.5 135 -78 7.5 +9.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.5 66 -9 7.4 +9.0
VWO Vanguard FTSE Emerging Markets ETF 0.5 8 49 7.7 +9.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.5 20 37 7.7 +9.3
DEHP Dimensional Emerging Markets High Profitability ETF 0.5 41 16 7.4 +9.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.5 50 7 10.7 +12.3
LDEM iShares ESG MSCI EM Leaders ETF 0.5 17 40 7.9 +9.6
SPEM SPDR Portfolio Emerging Markets ETF 0.5 7 50 7.6 +9.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 21 7.6 +9.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 46 7.8 +9.5
BNGE First Trust S-Network Streaming and Gaming ETF 0.5 70 -13 -1.1 +0.5
IEMG iShares Core MSCI Emerging Markets ETF 0.5 9 48 7.7 +9.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.5 30 27 7.6 +9.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.5 59 -2 9.7 +11.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.4 15 42 7.2 +8.8
EEM iShares MSCI Emerging Markets ETF 0.4 69 -12 7.1 +8.7
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.4 38 19 8.4 +10.0
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.4 41 16 7.9 +9.6
ICLN iShares Global Clean Energy ETF 0.4 41 16 4.3 +5.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.4 80 -23 11.1 +12.7
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 22 7.8 +9.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 18 12.8 +14.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 0.3 20 37 10.9 +12.6
BLES Inspire Global Hope ETF 0.3 61 -4 6.4 +8.0
GLOF iShares Global Equity Factor ETF 0.2 20 37 7.1 +8.7
STXE Strive Emerging Markets Ex-China ETF 0.2 32 25 7.0 +8.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 16 6.8 +8.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 49 7.3 +8.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 27 7.9 +9.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 23 6.8 +8.5
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 50 7.0 +8.7
VXUS Vanguard Total International Stock ETF 0.1 7 50 7.2 +8.9
VYMI Vanguard International High Dividend Yield ETF 0.1 22 35 9.9 +11.5
IGRO iShares International Dividend Growth ETF 0.1 15 42 7.2 +8.9
VSGX Vanguard ESG International Stock ETF 0.1 12 45 6.9 +8.5
GVAL Cambria Global Value ETF 0.1 68 -11 12.6 +14.2
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 27 6.9 +8.6
XCEM Columbia EM Core ex-China ETF 0.1 16 41 7.4 +9.0
FILL iShares MSCI Global Energy Producers ETF 0.1 39 18 9.3 +10.9
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.1 39 18 4.7 +6.3
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -32 4.8 +6.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 33 7.2 +8.8
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 47 8.2 +9.9
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 45 8.8 +10.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 37 6.8 +8.4
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.1 45 12 6.4 +8.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 45 5.1 +6.7
ACWI iShares MSCI ACWI ETF 0.0 32 25 5.5 +7.2
VT Vanguard Total World Stock ETF 0.0 7 50 5.9 +7.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 37 5.7 +7.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 7 50 6.6 +8.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 48 5.8 +7.4

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

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity -1.0 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 57 bp
Equals: ALTAR Score -1.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.26 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.