Global X FTSE Nordic 30
ALTAR
Score™
5.1% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
17.5x P/Sales
ratio
2.0x
P/BV
ratio
2.3x Div.
yield
3.5%


  • 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 19, 2009
Assets (mns) $18
Currency USD
Expense ratio 58 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) $43,093
Large cap (>$10bn) 97.5%
Mid cap ($2-10bn) 2.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NOVO NORDISK A/S-B 16.1 %
LM ERICSSON TELEFON AB CLASS B 4.5 %
KONE OYJ-B 4.1 %
INVESTOR AB-B SHS 3.9 %
VOLVO AB-B SHS 3.9 %
ATLAS COPCO AB CLASS A 3.9 %
NORDEA BANK ABP 3.9 %
DSV A/S 3.7 %
ASSA ABLOY AB CLASS B 3.5 %
SAMPO OYJ-A SHS 3.3 %
Total 50.8 %

TOP COUNTRY EXPOSURE
SWEDEN 39.4 %
DENMARK 32.6 %
FINLAND 18.3 %
NORWAY 8.1 %







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.
7.8% 5.6% 0.7% 5.6% 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.69 44%
MSCI EAFE 1.00 78%
MSCI Emg. Mkts. 0.72 67%

Technical Indicators
Recent close $21.04
30d moving avg. $20.84
Annualized volatility 12.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.8%
Bid/Ask (% of price) 1.29%
ADV underlying (mns) $1,472

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X FTSE Nordic 30 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: 58 bp ALTAR Score™: 5.1%


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 43.3 53 5 5.7 +0.6
EDEN iShares MSCI Denmark Capped 32.6 53 5 4.7 -0.4
SLIM Obesity 16.1 35 23 2.4 -2.7
EFNL iShares MSCI Finland Capped 14.5 53 5 6.6 +1.5
DNL WisdomTree Global Ex-U.S. Growth 13.6 58 0 7.8 +2.7
IHDG Wisdomtree International Hed 10.4 58 0 6.3 +1.2
EUMV iShares MSCI Europe Min Volatility 10.4 25 33 5.2 +0.1
IQDG WisdomTree International Quality Dividend Growth 10.3 38 20 6.6 +1.5
CID Victory CEMP International High Div Volatility Wtd 10.2 45 13 8.9 +3.8
EUDG WisdomTree Europe Dividend 8.9 58 0 6.4 +1.3
RFEU First Trust Riverfront Dynamic Europe 8.8 83 -25 6.2 +1.1
JPEU JPMorgan Diversified Return Europe Equity 8.3 37 21 6.7 +1.6
IDV iShares DJ Int'l Select Dividend 8.2 49 9 8.5 +3.4
EUFN iShares MSCI Europe Financial Sector 8.2 48 10 9.0 +3.9
ENOR iShares MSCI Norway Capped 8.1 53 5 4.1 -1.0
NORW Global X MSCI Norway 8.1 50 8 4.0 -1.1
IDHQ Invesco Int'l Developed High Quality Portfolio 7.8 29 29 5.5 +0.4
IQDE FlexShares Int'l Quality Dividend Defensive 7.7 47 11 9.7 +4.6
OEUR O'Shares FTSE Europe Quality Dividend 7.1 48 10 6.4 +1.3
DOO WisdomTree Int'l Dividend Ex-Financials 6.9 58 0 8.1 +3.0

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 30
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 12.2 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.77 CATEGORY
AVERAGE
1.63
 
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.