IQ 50 Percent Hedged FTSE Japan ETF
ALTAR
Score™
8.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
13.2x P/Sales
ratio
0.7x
P/BV
ratio
1.1x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The IQ 50 Percent Hedged FTSE Japan ETF tracks a vanilla index of large- and midcap companies located in Japan, with about half of its foreign currency exposure hedged into U.S. dollars.

FUND BASICS
Category International Equities
Fund Sponsor IndexIQ
Website www.indexiq.com
Inception date Jul 22, 2015
Assets (mns) $5
Currency USD
Expense ratio 30 bp
Distributions Annually

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 503
Wgt avg mkt cap (mns) $35,561
Large cap (>$10bn) 71.1%
Mid cap ($2-10bn) 26.0%
Small cap (<$2bn) 2.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TOYOTA MOTOR CORP 4.5 %
SONY CORP 2.2 %
SOFTBANK GROUP CORP. 2.2 %
MITSUBISHI UFJ FINANCIAL GRO 1.7 %
KEYENCE CORP 1.6 %
TAKEDA PHARMACEUTICAL CO LTD 1.5 %
KDDI CORPORATION 1.4 %
RECRUIT HOLDINGS CO LTD 1.4 %
SHIN-ETSU CHEMICAL CO LTD 1.3 %
HONDA MOTOR CO LTD 1.2 %
Total 18.9 %

TOP COUNTRY EXPOSURE
JAPAN 98.5 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.7% 9.0% -- -- 2.2%

Market Correlations
versus... Beta R-squared
S&P500 0.88 70%
MSCI EAFE 1.02 76%
MSCI Emg. Mkts. 0.65 55%

Technical Indicators
Recent close $20.13
30d moving avg. $21.58
Annualized volatility 12.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 7
Turnover 2.8%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $14,717

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the IQ 50 Percent Hedged FTSE Japan ETF ETF based on the alternatives' overlap in portfolio holdings with HFXJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HFXJ Expense: 30 bp ALTAR Score™: 8.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HFXJ
Ticker Fund
Name
Overlap1
vs HFXJ
(%)
Expense
ratio
(bp)
Savings
vs HFXJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs HFXJ
(%)
FLJP Franklin FTSE Japan ETF 97.9 9 21 8.6 +0.3
FLJH Franklin FTSE Japan Hedged ETF 95.8 9 21 8.4 +0.1
BBJP JPMorgan BetaBuilders Japan ETF 92.2 19 11 8.4 +0.1
EWJ iShares MSCI Japan ETF 90.4 49 -19 8.1 -0.2
QJPN SPDR MSCI Japan StrategicFactors ETF 89.0 14 16 8.6 +0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 88.9 45 -15 8.0 -0.3
JPXN iShares JPX-Nikkei 400 ETF 84.1 48 -18 8.2 -0.1
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 83.8 9 21 8.6 +0.3
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 76.7 25 5 8.3 +0.0
IPAC iShares Core MSCI Pacific ETF 59.8 9 21 7.8 -0.5
DXJ WisdomTree Japan Hedged Equity Fund 57.1 48 -18 9.1 +0.8
EWJE iShares MSCI Japan Equal Weighted ETF 54.4 15 15 7.7 -0.6
VPL Vanguard FTSE Pacific ETF 54.2 8 22 8.2 -0.2
EWJV iShares MSCI Japan Value ETF 49.9 15 15 11.3 +3.0
SCIJ Global X Scientific Beta Japan ETF 44.4 39 -9 7.8 -0.5
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 44.1 83 -53 7.7 -0.6
JPMV iShares Edge MSCI Min Vol Japan ETF 42.7 30 0 7.5 -0.9
IVLU iShares Edge MSCI Intl Value Factor ETF 34.8 30 0 11.4 +3.1
REFA Invesco International Revenue ETF 30.5 42 -12 8.8 +0.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 27.8 29 1 7.7 -0.6

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

  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

Content on this tab for subscribers only

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 Japan ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.4 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 8.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.64
 
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.