Global X FTSE Nordic Region ETF
ALTAR
Score™
11.0% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
21.1x P/Sales
ratio
2.1x
P/BV
ratio
0.8x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X/FTSE Nordic 30 ETF to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE Nordic 30 Index.

FUND BASICS
Category International Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Aug 17, 2009
Assets (mns) $19
Currency USD
Expense ratio 56 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 30
Wgt avg mkt cap (mns) $53,782
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NOVO NORDISK A/S-B 16.3 %
KONE OYJ-B 4.9 %
LM ERICSSON TELEFON AB CLASS B 4.7 %
DSV A/S 4.5 %
VESTAS WIND SYSTEMS A/S 4.3 %
ATLAS COPCO AB CLASS A 4.3 %
INVESTOR AB-B SHS 4.1 %
VOLVO AB-B SHS 4.1 %
DONG ENERGY A/S 3.8 %
NORDEA BANK ABP 3.4 %
Total 54.4 %

TOP COUNTRY EXPOSURE
SWEDEN 38.4 %
DENMARK 36.4 %
FINLAND 19.1 %
NORWAY 5.7 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.4% 26.3% 5.5% 7.7% 7.2%

Market Correlations
versus... Beta R-squared
S&P500 0.75 71%
MSCI EAFE 0.86 78%
MSCI Emg. Mkts. 0.66 73%

Technical Indicators
Recent close $23.87
30d moving avg. $24.60
Annualized volatility 15.6%
Short interest (ETF) 0.3%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.6%
Bid/Ask (% of price) 1.22%
ADV underlying (mns) $808

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Global X FTSE Nordic Region ETF ETF based on the alternatives' overlap in portfolio holdings with GXF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GXF Expense: 56 bp ALTAR Score™: 11.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GXF
Ticker Fund
Name
Overlap1
vs GXF
(%)
Expense
ratio
(bp)
Savings
vs GXF
(bp)
ALTAR
Score™
(%)
ALTAR
vs GXF
(%)
EWD iShares MSCI Sweden ETF 41.9 55 1 11.5 +0.5
EDEN iShares MSCI Denmark Capped ETF 36.4 53 3 6.2 -4.8
EFNL iShares MSCI Finland Capped ETF 15.6 53 3 6.0 -5.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 15.6 58 -2 7.9 -3.1
IQDG WisdomTree International Quality Dividend Growth Fund 12.4 42 14 6.2 -4.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 12.0 58 -2 6.1 -4.9
EUFN iShares MSCI Europe Financials ETF 11.5 48 8 13.4 +2.4
PIZ Invesco DWA Developed Markets Momentum ETF 11.4 81 -25 4.5 -6.4
RFEU First Trust Riverfront Dynamic Europe ETF 11.4 83 -27 6.0 -5.0
EUDG WisdomTree Europe Quality Dividend Growth Fund 11.4 58 -2 6.0 -5.0
EUDV ProShares MSCI Europe Dividend Growers ETF 11.2 55 1 5.8 -5.2
DWCR Arrow DWA Country Rotation ETF 9.4 95 -39 14.4 +3.4
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 8.6 45 11 10.3 -0.7
SDG iShares Sustainable MSCI Global Impact ETF 8.6 49 7 6.4 -4.6
IEV iShares Europe ETF 8.4 59 -3 7.0 -4.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 8.4 30 26 6.0 -5.0
OEUR O'shares FTSE Europe Quality Dividend ETF 8.3 48 8 6.8 -4.2
FAN First Trust Global Wind Energy ETF 8.1 62 -6 5.3 -5.6
BBEU JPMorgan BetaBuilders Europe ETF 8.0 9 47 7.5 -3.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 8.0 30 26 4.3 -6.7
IDHQ Invesco S&P International Developed Quality ETF 7.9 29 27 5.0 -6.0
FLEE Franklin FTSE Europe ETF 7.7 9 47 7.1 -3.8
DBEU Xtrackers MSCI Europe Hedged Equity ETF 7.6 45 11 6.7 -4.3
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 7.6 30 26 0.0 -11.0
VGK Vanguard FTSE Europe ETF 7.4 8 48 7.5 -3.5
IEUR iShares Core MSCI Europe ETF 7.3 9 47 7.3 -3.7
FLEH Franklin FTSE Europe Hedged ETF 7.2 9 47 7.3 -3.7
EFG iShares MSCI EAFE Growth ETF 7.1 40 16 4.5 -6.5
FEU SPDR Portfolio Europe ETF 7.1 9 47 7.4 -3.6
IDOG ALPS International Sector Dividend Dogs ETF 6.9 50 6 11.2 +0.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 6.8 32 24 6.0 -5.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 6.8 25 31 6.5 -4.5
DOL WisdomTree International LargeCap Dividend Fund 6.7 48 8 8.8 -2.2
NUDM Nuveen ESG International Developed Markets Equity ETF 6.7 40 16 6.8 -4.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 6.5 50 6 6.1 -4.9
FEP First Trust Europe AlphaDEX Fund 6.3 80 -24 7.4 -3.5
IQSI IQ Candriam ESG International Equity ETF 6.3 15 41 7.4 -3.6
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 6.1 61 -5 4.9 -6.1
TPIF Timothy Plan International ETF 6.0 62 -6 6.3 -4.7
GDVD Principal Active Global Dividend Income ETF 5.9 58 -2 5.3 -5.7
QEFA SPDR MSCI EAFE Quality Mix ETF 5.9 30 26 6.9 -4.1
WWJD Inspire International ESG ETF 5.9 80 -24 7.5 -3.5
SCID Global X Scientific Beta Europe ETF 5.8 39 17 6.5 -4.5
DOO WisdomTree International Dividend ex-Financials Fund 5.7 58 -2 9.0 -2.0
NORW Global X MSCI Norway ETF 5.7 50 6 9.9 -1.1
ENOR iShares MSCI Norway Capped ETF 5.7 53 3 9.5 -1.5
MOTO SmartETFs Smart Transportation & Technology ETF 5.7 68 -12 7.4 -3.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 5.6 14 42 6.9 -4.0
RFDI First Trust Riverfront Dynamic Developed International ETF 5.5 83 -27 5.7 -5.3
IDMO Invesco S&P International Developed Momentum ETF 5.5 26 30 4.5 -6.5
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 5.5 35 21 7.0 -4.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 5.4 20 36 7.1 -3.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 5.3 20 36 5.5 -5.5
RBIN Nationwide Risk-Based International Equity ETF 5.2 42 14 6.1 -4.9
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 5.2 30 26 0.0 -11.0
ESGD iShares MSCI EAFE ESG Optimized ETF 5.2 20 36 7.0 -4.0
EFA iShares MSCI EAFE ETF 5.1 32 24 7.1 -3.9
GSID Goldman Sachs MarketBeta International Equity ETF 5.1 20 36 7.4 -3.6
BKIE BNY Mellon International Equity ETF 5.0 4 52 7.4 -3.6
DWM WisdomTree International Equity Fund 4.9 48 8 8.4 -2.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 4.9 35 21 8.7 -2.3
HFXI IQ 50 Percent Hedged FTSE International ETF 4.9 20 36 7.5 -3.5
EXI iShares Global Industrials ETF 4.8 46 10 5.6 -5.4
CIL VictoryShares International Volatility Weighted Index ETF 4.8 45 11 6.7 -4.3
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 4.7 45 11 6.7 -4.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 4.7 35 21 6.9 -4.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 4.6 39 17 6.6 -4.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 4.4 7 49 7.6 -3.4
IEFA iShares Core MSCI EAFE ETF 4.3 7 49 7.3 -3.7
QINT American Century Quality Diversified International ETF 4.3 39 17 6.1 -4.9
GEX VanEck Vectors Global Alternative Energy ETF 4.3 62 -6 3.8 -7.2
ICLN iShares Global Clean Energy ETF 4.3 46 10 2.6 -8.4
IDLV Invesco S&P International Developed Low Volatility ETF 4.2 25 31 6.6 -4.4
DTH WisdomTree DEFA Equity Income Fund 4.2 58 -2 10.1 -0.9
DWMF WisdomTree International Multifactor Fund 4.1 38 18 6.2 -4.8
SCHF Schwab International Equity ETF 4.1 6 50 7.4 -3.6
PQIN PGIM QMA Strategic Alpha International Equity ETF 4.0 29 27 7.6 -3.4
PZD Invesco Cleantech ETF 4.0 65 -9 4.3 -6.7
IDEV iShares Core MSCI International Developed Markets ETF 4.0 5 51 7.3 -3.7
JHMD John Hancock Multifactor Developed International ETF 4.0 39 17 7.5 -3.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.9 25 31 6.7 -4.3
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 3.9 24 32 7.1 -3.9
IDV iShares International Select Dividend ETF 3.9 49 7 10.8 -0.2
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.8 70 -14 2.4 -8.6
SPDW SPDR Portfolio Developed World ex-US ETF 3.8 4 52 7.2 -3.8
IQDE FlexShares International Quality Dividend Defensive Index Fd 3.8 47 9 9.3 -1.7
VEA Vanguard FTSE Developed Markets ETF 3.7 5 51 7.5 -3.5
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.7 65 -9 11.2 +0.2
FIVA Fidelity International Value Factor ETF 3.7 39 17 9.9 -1.1
PDEV Principal International Multi-Factor Core Index ETF 3.7 25 31 8.1 -2.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.6 45 11 9.1 -1.9
FNDF Schwab Fundamental International Large Co. Index ETF 3.5 25 31 8.9 -2.0
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 3.5 30 26 8.7 -2.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 3.5 16 40 7.0 -4.0
CRAK VanEck Vectors Oil Refiners ETF 3.4 60 -4 13.6 +2.7
INTF iShares Edge MSCI Multifactor Intl ETF 3.4 30 26 7.9 -3.1
IXC iShares Global Energy ETF 3.4 46 10 7.1 -3.9
CWI SPDR MSCI ACWI ex-US ETF 3.3 30 26 7.3 -3.7

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 FTSE Nordic Region ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.6 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 56 bp
Equals: ALTAR Score 11.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.57
 
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.