Global X MSCI Greece ETF
ALTAR
Score™		 -4.0% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 6.2x P/Sales
ratio		 0.9x
P/BV
ratio		 0.9x Div.
yield		 4.2%


  • 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) $180
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 31
Wgt avg mkt cap (mns) $4,110
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 75.6%
Small cap (<$2bn) 19.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NATIONAL BANK OF GREECE S.A. 12.8 %
EUROBANK ERGASIAS SA 10.5 %
PIRAEUS BANK S.A. 7.1 %
MYTILINEOS HOLDINGS S.A. 6.9 %
ALPHA BANK AE 6.8 %
JUMBO SA 4.8 %
PUBLIC POWER CORP 4.7 %
HELLENIC TELECOMMUNICATIONS ORGANI 4.4 %
TITAN CEMENT INTERNATIONAL N.V. 4.2 %
OPAP SA 4.2 %
Total 66.5 %

TOP COUNTRY EXPOSURE
GREECE 93.9 %
BELGIUM 4.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
7.7% 21.0% 8.8% 0.5% 1.3%

Market Correlations
versus... Beta R-squared
S&P500 0.77 33%
MSCI EAFE 0.89 45%
MSCI Emg. Mkts. 0.70 28%

Technical Indicators
Recent close $38.65
30d moving avg. $41.48
Annualized volatility 23.4%
Short interest (ETF) 0.4%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 30
Turnover 0.6%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $139

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 106 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™: -4.0%


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
(%)
SDEM Global X MSCI SuperDividend Emerging Markets ETF 4.1 67 -10 15.0 +19.0
FEUZ First Trust Eurozone AlphaDEX ETF 4.0 80 -23 6.7 +10.7
WNDY Global X Wind Energy ETF 3.4 50 7 6.1 +10.1
FEP First Trust Europe AlphaDEX Fund 3.0 80 -23 7.8 +11.8
BETZ Roundhill Sports Betting & iGaming ETF 2.3 75 -18 1.6 +5.6
RFEU First Trust Riverfront Dynamic Europe ETF 2.3 83 -26 11.1 +15.1
EMM Global X Emerging Markets ex-China ETF 2.1 75 -18 4.2 +8.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.1 44 13 10.6 +14.6
RNRG Global X Renewable Energy Producers ETF 2.0 66 -9 5.5 +9.5
FAN First Trust Global Wind Energy ETF 1.9 60 -3 5.5 +9.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.8 60 -3 9.8 +13.8
BJK VanEck Gaming ETF 1.8 65 -8 1.4 +5.4
SDIV Global X Superdividend ETF 1.7 58 -1 14.9 +18.9
DVYE iShares Emerging Markets Dividend ETF 1.6 49 8 18.8 +22.8
CRAK VanEck Oil Refiners ETF 1.6 61 -4 14.7 +18.8
AADR AdvisorShares Dorsey Wright ADR ETF 1.6 110 -53 5.6 +9.6
EMC Global X Emerging Markets Great Consumer ETF 1.6 75 -18 4.5 +8.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.4 88 -31 7.4 +11.5
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.3 80 -23 3.2 +7.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.3 29 28 8.7 +12.7
FTHF First Trust Emerging Markets Human Flourishing ETF 1.2 75 -18 8.9 +12.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.2 95 -38 10.5 +14.5
RFDI First Trust Riverfront Dynamic Developed International ETF 1.2 83 -26 10.0 +14.0
UIVM VictoryShares International Value Momentum ETF 1.2 35 22 11.0 +15.0
EDIV SPDR S&P Emerging Markets Dividend ETF 1.1 49 8 12.0 +16.0
IQDE FlexShares International Quality Dividend Defensive Index ET 1.0 47 10 14.8 +18.8
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.9 18 39 6.8 +10.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.9 70 -13 9.2 +13.2
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.9 60 -3 0.5 +4.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.9 45 12 11.0 +15.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.7 70 -13 7.7 +11.7
EMXF iShares ESG Advanced MSCI EM ETF 0.7 16 41 6.8 +10.8
XCNY SPDR S&P Emerging Markets ex-China ETF 0.7 15 42 6.3 +10.3
EMGF iShares Emerging Markets Equity Factor ETF 0.7 25 32 8.5 +12.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.6 30 27 8.1 +12.1
LDEM iShares ESG MSCI EM Leaders ETF 0.6 17 40 7.6 +11.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.6 20 37 6.8 +10.8
EMXC iShares MSCI Emerging Markets ex China ETF 0.6 25 32 6.7 +10.7
ESGE iShares ESG Aware MSCI EM ETF 0.6 25 32 7.1 +11.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.6 35 22 12.4 +16.4
SCHE Schwab Emerging Markets Equity ETF 0.6 11 46 7.1 +11.1
NUEM Nuveen ESG Emerging Markets Equity ETF 0.6 36 21 6.5 +10.5
EQLT iShares MSCI Emerging Markets Quality Factor ETF 0.6 35 22 7.4 +11.4
EWX SPDR S&P Emerging Markets Small Cap ETF 0.6 65 -8 8.2 +12.2
TTAI FCF International Quality ETF 0.6 59 -2 5.6 +9.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.6 59 -2 11.3 +15.3
FDEM Fidelity Emerging Markets Multifactor ETF 0.6 25 32 12.3 +16.3
WWJD Inspire International ETF 0.5 80 -23 7.3 +11.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 42 10.2 +14.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 24 8.2 +12.3
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.5 25 32 6.6 +10.7
VWO Vanguard FTSE Emerging Markets ETF 0.5 8 49 6.9 +10.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.5 66 -9 10.0 +14.0
IEMG iShares Core MSCI Emerging Markets ETF 0.5 9 48 7.5 +11.5
DFEV Dimensional Emerging Markets Value ETF 0.5 43 14 11.1 +15.1
SPEM SPDR Portfolio Emerging Markets ETF 0.5 7 50 7.3 +11.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.5 70 -13 3.5 +7.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 21 7.8 +11.8
BNGE First Trust S-Network Streaming and Gaming ETF 0.4 70 -13 -3.5 +0.5
BKEM BNY Mellon Emerging Markets Equity ETF 0.4 11 46 8.4 +12.4
EEM iShares MSCI Emerging Markets ETF 0.4 69 -12 6.9 +10.9
AVEM Avantis Emerging Markets Equity ETF 0.4 33 24 8.9 +12.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.4 41 16 7.4 +11.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.4 80 -23 9.1 +13.1
BCDF Horizon Kinetics Blockchain Development ETF 0.4 85 -28 3.9 +7.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 42 7.2 +11.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.4 30 27 7.3 +11.3
AVES Avantis Emerging Markets Value ETF 0.4 36 21 11.6 +15.6
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.4 80 -23 10.8 +14.8
DEHP Dimensional Emerging Markets High Profitability ETF 0.4 41 16 5.0 +9.0
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 22 7.3 +11.3
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.4 38 19 7.8 +11.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 7 13.0 +17.0
BLES Inspire Global Hope ETF 0.3 61 -4 6.4 +10.5
XCEM Columbia EM Core ex-China ETF 0.3 16 41 7.7 +11.7
ECON Columbia Emerging Markets Consumer ETF 0.3 49 8 7.3 +11.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.3 39 18 12.5 +16.5
GLOF iShares Global Equity Factor ETF 0.2 20 37 7.0 +11.0
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 49 7.3 +11.3
IGRO iShares International Dividend Growth ETF 0.2 15 42 7.5 +11.6
VXUS Vanguard Total International Stock ETF 0.1 7 50 7.2 +11.2
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 50 7.2 +11.2
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 23 7.0 +11.0
VSGX Vanguard ESG International Stock ETF 0.1 12 45 6.8 +10.8
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 39 7.0 +11.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 27 8.0 +12.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 16 7.4 +11.4
VYMI Vanguard International High Dividend Yield ETF 0.1 22 35 9.8 +13.8
STXE Strive Emerging Markets Ex-China ETF 0.1 32 25 7.0 +11.0
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 27 6.9 +11.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 33 9.2 +13.2
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 47 7.7 +11.7
FILL iShares MSCI Global Energy Producers ETF 0.1 39 18 9.6 +13.6
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 37 6.3 +10.4
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 45 8.3 +12.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.1 39 18 4.1 +8.1
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -32 4.9 +8.9
ACWI iShares MSCI ACWI ETF 0.0 32 25 5.3 +9.3
VT Vanguard Total World Stock ETF 0.0 7 50 5.5 +9.5
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.0 45 12 5.7 +9.7
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 45 4.8 +8.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 7 50 6.7 +10.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 37 5.2 +9.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 48 5.4 +9.4
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.0 45 12 12.3 +16.3
GVAL Cambria Global Value ETF 0.0 68 -11 13.1 +17.1

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:		 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 -2.9 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 57 bp
Equals: ALTAR Score -4.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.46 CATEGORY
AVERAGE		 1.48
 
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.