Global X MSCI Greece ETF
ALTAR
Score™		 10.1% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 10.1x P/Sales
ratio		 1.2x
P/BV
ratio		 1.2x 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) $301
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) $6,111
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. 15.9 %
EUROBANK ERGASIAS SA 12.1 %
PIRAEUS BANK S.A. 10.3 %
ALPHA SERVICES A 10.0 %
PUBLIC POWER CORP 4.4 %
MYTILINEOS HOLDINGS S.A. 4.3 %
JUMBO SA 4.2 %
OPAP SA 4.0 %
HELLENIC TELECOMMUNICATIONS ORGANI 3.7 %
MOTOR OIL (HELLAS) SA 3.5 %
Total 72.4 %

TOP COUNTRY EXPOSURE
GREECE 95.7 %
BELGIUM 3.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
49.6% 52.2% 27.6% 9.5% 4.0%

Market Correlations
versus... Beta R-squared
S&P500 0.66 22%
MSCI EAFE 0.76 31%
MSCI Emg. Mkts. 0.56 18%

Technical Indicators
Recent close $60.80
30d moving avg. $57.31
Annualized volatility 22.5%
Short interest (ETF) 1.3%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 78
Turnover 1.6%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $62

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 110 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™: 10.1%


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
(%)
BETZ Roundhill Sports Betting & iGaming ETF 4.2 75 -18 2.0 -8.2
FEUZ First Trust Eurozone AlphaDEX ETF 3.8 80 -23 9.2 -1.0
EYLD Cambria Emerging Shareholder Yield ETF 3.5 66 -9 12.3 +2.2
SDIV Global X Superdividend ETF 3.0 58 -1 39.9 +29.8
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.8 80 -23 4.9 -5.3
RFEU First Trust Riverfront Dynamic Europe ETF 2.8 83 -26 10.6 +0.5
BJK VanEck Gaming ETF 2.6 65 -8 4.1 -6.1
FEP First Trust Europe AlphaDEX Fund 2.5 80 -23 9.3 -0.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.2 44 13 11.0 +0.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.2 29 28 8.9 -1.3
CRAK VanEck Oil Refiners ETF 2.1 61 -4 14.2 +4.1
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.1 67 -10 13.9 +3.8
FTHF First Trust Emerging Markets Human Flourishing ETF 2.0 75 -18 8.6 -1.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.0 60 -3 7.2 -3.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.9 70 -13 4.7 -5.5
EMM Global X Emerging Markets ex-China ETF 1.8 75 -18 6.0 -4.1
EDIV SPDR S&P Emerging Markets Dividend ETF 1.8 49 8 11.9 +1.8
EMC Global X Emerging Markets Great Consumer ETF 1.6 75 -18 8.8 -1.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.6 95 -38 12.7 +2.6
DVYE iShares Emerging Markets Dividend ETF 1.4 49 8 18.9 +8.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.3 70 -13 14.6 +4.5
RFDI First Trust Riverfront Dynamic Developed International ETF 1.3 83 -26 9.8 -0.3
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.1 25 32 6.5 -3.7
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.0 80 -23 10.0 -0.1
LDEM iShares ESG MSCI EM Leaders ETF 1.0 17 40 13.1 +3.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.0 45 12 10.4 +0.3
ESGE iShares ESG Aware MSCI EM ETF 1.0 25 32 10.0 -0.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.9 30 27 9.9 -0.2
XCNY SPDR S&P Emerging Markets ex-China ETF 0.9 15 42 7.7 -2.4
EMGF iShares Emerging Markets Equity Factor ETF 0.9 25 32 11.8 +1.7
EMXF iShares ESG Advanced MSCI EM ETF 0.9 16 41 8.4 -1.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.9 53 4 7.7 -2.4
EMXC iShares MSCI Emerging Markets ex China ETF 0.8 25 32 7.7 -2.4
BCDF Horizon Kinetics Blockchain Development ETF 0.8 85 -28 4.0 -6.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.8 33 24 10.1 -0.0
DFEV Dimensional Emerging Markets Value ETF 0.8 43 14 13.2 +3.1
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 10 9.3 -0.8
FDEM Fidelity Emerging Markets Multifactor ETF 0.8 25 32 12.8 +2.7
EWX SPDR S&P Emerging Markets Small Cap ETF 0.8 65 -8 8.1 -2.1
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.8 88 -31 9.4 -0.8
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.7 60 -3 10.2 +0.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.7 70 -13 7.7 -2.4
SCHE Schwab Emerging Markets Equity ETF 0.7 11 46 11.1 +1.0
BNGE First Trust S-Network Streaming and Gaming ETF 0.7 70 -13 2.7 -7.4
BOAT SonicShares Global Shipping ETF 0.7 69 -12 31.1 +21.0
NUEM Nuveen ESG Emerging Markets Equity ETF 0.7 36 21 7.8 -2.3
SPEM SPDR Portfolio Emerging Markets ETF 0.6 7 50 10.6 +0.5
VWO Vanguard FTSE Emerging Markets ETF 0.6 7 50 10.5 +0.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 16 8.8 -1.3
DEHP Dimensional Emerging Markets High Profitability ETF 0.6 41 16 6.8 -3.3
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.6 42 15 9.8 -0.3
DFAE Dimensional Emerging Core Equity Market ETF 0.6 35 22 9.4 -0.7
IEMG iShares Core MSCI Emerging Markets ETF 0.6 9 48 10.4 +0.3
UIVM VictoryShares International Value Momentum ETF 0.6 35 22 9.0 -1.1
ABLG Abacus FCF International Leaders ETF 0.6 59 -2 6.5 -3.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.6 30 27 10.3 +0.1
EEM iShares MSCI Emerging Markets ETF 0.6 69 -12 10.2 +0.1
TTAI FCF International Quality ETF 0.6 59 -2 7.0 -3.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 19 9.4 -0.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.5 59 -2 11.7 +1.6
WWJD Inspire International ETF 0.5 80 -23 7.3 -2.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 42 8.1 -2.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 21 9.8 -0.3
AVEM Avantis Emerging Markets Equity ETF 0.5 33 24 9.1 -1.0
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 46 10.1 -0.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.4 66 -9 9.8 -0.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 42 10.3 +0.2
EEMO Invesco S&P Emerging Markets Momentum ETF 0.4 29 28 6.4 -3.7
AVES Avantis Emerging Markets Value ETF 0.4 36 21 11.5 +1.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.4 50 7 11.4 +1.2
VYMI Vanguard International High Dividend Yield ETF 0.4 17 40 9.9 -0.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.4 33 24 8.7 -1.5
XCEM Columbia EM Core ex-China ETF 0.3 16 41 8.1 -2.0
IPAV Global X Infrastructure Development ex-U.S. ETF 0.3 55 2 7.6 -2.5
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.3 35 22 19.2 +9.1
ECON Columbia Emerging Markets Consumer ETF 0.3 49 8 12.3 +2.2
GLOF iShares Global Equity Factor ETF 0.3 20 37 6.7 -3.4
STXE Strive Emerging Markets Ex-China ETF 0.3 32 25 7.8 -2.3
BLES Inspire Global Hope ETF 0.3 61 -4 6.9 -3.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.2 39 18 16.2 +6.1
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 53 8.2 -1.9
AVSE Avantis Responsible Emerging Markets Equity ETF 0.2 33 24 8.5 -1.6
VXUS Vanguard Total International Stock ETF 0.2 5 52 8.1 -2.1
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 50 8.1 -2.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 27 8.1 -2.0
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 23 7.9 -2.2
VSGX Vanguard ESG International Stock ETF 0.2 10 47 8.0 -2.2
IGRO iShares International Dividend Growth ETF 0.2 15 42 7.3 -2.8
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 27 7.8 -2.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 16 7.7 -2.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 39 7.9 -2.2
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 47 5.9 -4.2
FILL iShares MSCI Global Energy Producers ETF 0.1 39 18 12.0 +1.9
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 33 8.2 -1.9
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 37 6.0 -4.1
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 47 8.3 -1.8
VT Vanguard Total World Stock ETF 0.1 6 51 6.0 -4.1
ACWI iShares MSCI ACWI ETF 0.1 32 25 5.7 -4.4
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 45 8.1 -2.1
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -32 4.8 -5.3
IWTR iShares MSCI Water Management Multisector ETF 0.0 47 10 5.7 -4.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 18 6.7 -3.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 45 5.2 -4.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.0 49 8 7.0 -3.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 8 49 6.8 -3.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 37 5.8 -4.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 48 5.9 -4.2
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.0 45 12 10.8 +0.6
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.0 80 -23 11.1 +1.0
GVAL Cambria Global Value ETF 0.0 68 -11 11.1 +1.0

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

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.3 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 57 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.46 CATEGORY
AVERAGE		 1.50
 
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.