IQ 50 Percent Hedged FTSE International ETF
ALTAR
Score™
7.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.1x P/Sales
ratio
1.3x
P/BV
ratio
1.4x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The IQ 50 Percent Hedged FTSE International ETF tracks a vanilla index of large- and midcap companies located in developed nations outside of North America, with roughly half of its foreign currency exposure hedged into the U.S. dollar.

FUND BASICS
Category International Equities
Fund Sponsor IndexIQ
Website www.indexiq.com
Inception date Jul 22, 2015
Assets (mns) $264
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 795
Wgt avg mkt cap (mns) $66,423
Large cap (>$10bn) 84.3%
Mid cap ($2-10bn) 15.4%
Small cap (<$2bn) 0.2%
Developed mkts 94.3%
Emerging mkts 5.7%

TOP TEN HOLDINGS
NESTLE SA-REG 2.2 %
ROCHE HOLDING AG-GENUSSCHEIN 1.6 %
SAMSUNG ELECTRONICS CO LTD 1.5 %
SAP AG 1.2 %
NOVARTIS AG-REG 1.2 %
TOYOTA MOTOR CORP 1.1 %
ASTRAZENECA PLC 1.0 %
ASML HOLDING NV 1.0 %
AIA GROUP LTD 0.8 %
SANOFI-AVENTIS 0.8 %
Total 12.3 %

TOP COUNTRY EXPOSURE
JAPAN 24.4 %
BRITAIN 12.6 %
SWITZERLAND 9.7 %
FRANCE 9.1 %
GERMANY 8.7 %
AUSTRALIA 6.5 %
SOUTH KOREA 5.1 %
NETHERLANDS 4.1 %
HONG KONG 2.9 %
SWEDEN 2.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-10.0% -2.1% -- -- 2.4%

Market Correlations
versus... Beta R-squared
S&P500 0.78 81%
MSCI EAFE 0.92 96%
MSCI Emg. Mkts. 0.63 73%

Technical Indicators
Recent close $20.36
30d moving avg. $19.84
Annualized volatility 14.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 30
Turnover 0.2%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $58,915

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the IQ 50 Percent Hedged FTSE International ETF ETF based on the alternatives' overlap in portfolio holdings with HFXI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HFXI Expense: 20 bp ALTAR Score™: 7.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HFXI
Ticker Fund
Name
Overlap1
vs HFXI
(%)
Expense
ratio
(bp)
Savings
vs HFXI
(bp)
ALTAR
Score™
(%)
ALTAR
vs HFXI
(%)
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 88.5 7 13 7.4 +0.1
EFA iShares MSCI EAFE ETF 86.8 32 -12 6.9 -0.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 85.8 35 -15 6.7 -0.6
GSID Goldman Sachs MarketBeta International Equity ETF 83.6 20 0 7.2 -0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 81.9 20 0 7.0 -0.3
SCHF Schwab International Equity ETF 81.6 6 14 7.2 -0.1
IEFA iShares Core MSCI EAFE ETF 79.5 7 13 7.2 -0.1
BKIE BNY Mellon International Equity ETF 78.6 4 16 7.2 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 72.3 4 16 7.0 -0.3
IDEV iShares Core MSCI International Developed Markets ETF 71.7 5 15 7.1 -0.2
VEA Vanguard FTSE Developed Markets ETF 70.6 5 15 7.3 -0.0
JHMD John Hancock Multifactor Developed International ETF 69.2 39 -19 7.3 +0.0
ESGD iShares MSCI EAFE ESG Optimized ETF 68.8 20 0 6.8 -0.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 66.7 45 -25 8.7 +1.4
IQSI IQ Candriam ESG International Equity ETF 64.7 15 5 7.2 -0.1
FNDF Schwab Fundamental International Large Co. Index ETF 64.3 25 -5 8.6 +1.3
QEFA SPDR MSCI EAFE Quality Mix ETF 63.6 30 -10 6.8 -0.5
ACWX iShares MSCI ACWI ex U.S. ETF 62.1 32 -12 7.1 -0.2
CWI SPDR MSCI ACWI ex-US ETF 61.7 30 -10 7.1 -0.2
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 61.4 35 -15 6.8 -0.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 61.2 40 -20 6.9 -0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 59.8 25 -5 6.5 -0.8
DWM WisdomTree International Equity Fund 58.8 48 -28 8.2 +0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 58.8 35 -15 8.4 +1.1
VEU Vanguard FTSE All-World ex-US Index Fund 58.6 8 12 7.4 +0.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 57.6 30 -10 6.9 -0.4
FLEE Franklin FTSE Europe ETF 57.2 9 11 6.9 -0.4
PDEV Principal International Multi-Factor Core Index ETF 57.2 25 -5 7.7 +0.4
FLEH Franklin FTSE Europe Hedged ETF 57.2 9 11 7.0 -0.3
IEUR iShares Core MSCI Europe ETF 57.0 9 11 7.1 -0.2
FEU SPDR Portfolio Europe ETF 56.8 9 11 7.2 -0.1
VGK Vanguard FTSE Europe ETF 56.6 8 12 7.3 -0.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 56.3 45 -25 6.5 -0.8
IEV iShares Europe ETF 55.2 59 -39 6.7 -0.6
BBEU JPMorgan BetaBuilders Europe ETF 54.9 9 11 7.2 -0.1
IXUS ishares Core MSCI Total International Stock ETF 54.3 9 11 7.3 -0.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 53.5 39 -19 6.4 -0.9
VSGX Vanguard ESG International Stock ETF 53.3 17 3 7.0 -0.3
VXUS Vanguard Total International Stock Index Fund 53.1 8 12 7.4 +0.1
DOL WisdomTree International LargeCap Dividend Fund 52.6 48 -28 8.5 +1.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 51.0 25 -5 6.4 -0.9
CIL VictoryShares International Volatility Weighted Index ETF 50.2 45 -25 6.5 -0.8
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 50.2 45 -25 6.5 -0.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 50.2 39 -19 8.2 +0.9
ISDX Invesco Strategic Developed ex-US ETF 50.1 23 -3 7.2 -0.1
EFV iShares MSCI EAFE Value ETF 48.6 39 -19 9.4 +2.1
EFG iShares MSCI EAFE Growth ETF 48.4 40 -20 4.5 -2.8
ISZE iShares Edge MSCI Intl Size Factor ETF 48.4 30 -10 7.2 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 48.0 16 4 6.8 -0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 47.0 14 6 6.9 -0.4
IQIN IQ 500 International ETF 45.3 25 -5 8.6 +1.3
IDY Pacific Global International Equity Income ETF 42.4 39 -19 7.9 +0.6
VPL Vanguard FTSE Pacific ETF 40.8 8 12 7.5 +0.2
AVDE Avantis International Equity ETF 39.4 23 -3 7.7 +0.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 38.8 29 -9 7.6 +0.3
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 38.3 30 -10 0.0 -7.3
RNDM Developed International Equity Select ETF 38.1 65 -45 6.2 -1.1
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 37.9 24 -4 7.0 -0.3
VYMI Vanguard International High Dividend Yield ETF 37.7 32 -12 9.9 +2.6
TPIF Timothy Plan International ETF 36.3 62 -42 6.2 -1.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 35.3 30 -10 6.0 -1.3
IPAC iShares Core MSCI Pacific ETF 34.8 9 11 7.2 -0.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 34.5 30 -10 4.3 -3.0
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.8 42 -22 5.2 -2.1
RFDI First Trust Riverfront Dynamic Developed International ETF 32.5 83 -63 5.6 -1.7
RBIN Nationwide Risk-Based International Equity ETF 32.5 42 -22 6.1 -1.2
IDLB Invesco FTSE International Low Beta Equal Weight ETF 32.0 45 -25 7.0 -0.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 31.8 20 0 5.4 -1.9
SCID Global X Scientific Beta Europe ETF 31.6 39 -19 6.3 -1.0
QINT American Century Quality Diversified International ETF 31.5 39 -19 5.6 -1.7
JPIN JPMorgan Diversified Return International Equity ETF 30.9 37 -17 7.8 +0.5
QWLD SPDR MSCI World StrategicFactors ETF 30.2 30 -10 6.0 -1.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 29.4 45 -25 6.6 -0.7
VGFO Virtus WMC Global Factor Opportunities ETF 29.2 49 -29 7.8 +0.5
FDEV Fidelity Targeted International Factor ETF 29.2 39 -19 6.5 -0.8
URTH iShares MSCI World ETF 29.1 24 -4 5.5 -1.9
EZU iShares MSCI Eurozone ETF 28.9 49 -29 6.5 -0.8
IVLU iShares Edge MSCI Intl Value Factor ETF 28.6 30 -10 11.3 +4.0
EURZ Xtrackers Eurozone Equity ETF 28.4 9 11 6.9 -0.4
IGRO iShares International Dividend Growth ETF 27.8 22 -2 7.8 +0.5
NUDM Nuveen ESG International Developed Markets Equity ETF 27.3 40 -20 6.7 -0.6
DTH WisdomTree DEFA Equity Income Fund 27.1 58 -38 9.6 +2.3
IDHQ Invesco S&P International Developed Quality ETF 26.8 29 -9 5.0 -2.3
ACWI iShares MSCI ACWI ETF 26.3 32 -12 5.7 -1.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.3 29 -9 8.5 +1.2
EUMV iShares Edge MSCI Min Vol Europe ETF 25.9 25 -5 5.0 -2.3
OEUR O'shares FTSE Europe Quality Dividend ETF 25.8 48 -28 6.6 -0.7
LOWC SPDR MSCI ACWI Low Carbon Target ETF 25.7 20 0 5.9 -1.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 25.7 20 0 5.9 -1.4
FIVA Fidelity International Value Factor ETF 25.1 39 -19 9.8 +2.5
IOO iShares Global 100 ETF 24.4 40 -20 4.6 -2.8
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 24.3 30 -10 7.6 +0.3
FLJP Franklin FTSE Japan ETF 24.3 9 11 7.5 +0.2
FLJH Franklin FTSE Japan Hedged ETF 24.3 9 11 7.4 +0.1
BBJP JPMorgan BetaBuilders Japan ETF 24.2 19 1 7.3 +0.0
EWJ iShares MSCI Japan ETF 24.2 49 -29 7.0 -0.3
IDLV Invesco S&P International Developed Low Volatility ETF 24.1 25 -5 6.7 -0.6
UIVM VictoryShares USAA MSCI International Value Momentum ETF 24.0 35 -15 8.5 +1.2
DBJP Xtrackers MSCI Japan Hedged Equity ETF 24.0 45 -25 7.0 -0.3

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:
IQ 50 Percent Hedged FTSE International 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 10.0 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.59
 
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.