Invesco S&P International Developed Low Volatility ETF
ALTAR
Score™		 5.7% info Recommen-
dation		 UNDERWEIGHT
2021E    2022E
P/E
ratio		 18.5x P/Sales
ratio		 1.1x
P/BV
ratio		 1.6x Div.
yield		 2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P International Developed Low Volatility Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that generally correspond (before fees and expenses) to the price and yield of the S&P BMI International Developed Low Volatility Index (the "Underlying Index").

FUND BASICS
Category International Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jan 13, 2012
Assets (mns) $774
Currency USD
Expense ratio 25 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Volatility
Index replication n/a
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 200
Wgt avg mkt cap (mns) $31,541
Large cap (>$10bn) 60.5%
Mid cap ($2-10bn) 36.3%
Small cap (<$2bn) 1.9%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
HK ELECTRIC INVESTMENTS -SS 1.1 %
NESTLE SA-REG 0.7 %
CLP HOLDINGS LTD 0.7 %
SCHINDLER HOLDING AG PREF 0.6 %
AUSNET SERVICES 0.6 %
KONE OYJ-B 0.6 %
SOFTBANK CORP. 0.6 %
KINDEN CORP 0.6 %
MEIJI HOLDINGS CO LTD 0.6 %
HONGKONG ELECTRIC HOLDINGS 0.6 %
Total 6.8 %

TOP COUNTRY EXPOSURE
JAPAN 39.3 %
HONG KONG 7.0 %
SWITZERLAND 5.8 %
GERMANY 5.6 %
BRITAIN 5.4 %
SINGAPORE 5.1 %
AUSTRALIA 4.0 %
SWEDEN 3.9 %
CANADA 3.5 %
FRANCE 3.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
2.1% 18.4% 4.2% -- 5.4%

Market Correlations
versus... Beta R-squared
S&P500 0.63 69%
MSCI EAFE 0.68 78%
MSCI Emg. Mkts. 0.52 56%

Technical Indicators
Recent close $30.88
30d moving avg. $30.69
Annualized volatility 14.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 158
Turnover 0.6%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $14,012

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 440 potential alternatives to the Invesco S&P International Developed Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with IDLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IDLV Expense: 25 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IDLV
Ticker Fund
Name		 Overlap1
vs IDLV
(%)		 Expense
ratio
(bp)		 Savings
vs IDLV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IDLV
(%)
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 51.4 80 -55 5.5 -0.1
DFAI Dimensional International Core Equity Market ETF 42.3 18 7 6.0 +0.3
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 39.1 30 -5 7.4 +1.7
EFAV iShares Edge MSCI Min Vol EAFE ETF 38.1 20 5 4.9 -0.8
RBIN Nationwide Risk-Based International Equity ETF 37.1 42 -17 5.5 -0.1
DWMF WisdomTree International Multifactor Fund 35.9 38 -13 6.0 +0.4
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 33.4 32 -7 5.5 -0.2
QEFA SPDR MSCI EAFE Quality Mix ETF 28.9 30 -5 5.7 +0.1
RNDM First Trust Developed International Equity Select ETF 28.3 65 -40 5.3 -0.4
TPIF Timothy Plan International ETF 27.4 62 -37 5.6 -0.0
CIL VictoryShares International Volatility Weighted Index ETF 26.9 45 -20 5.9 +0.2
DOL WisdomTree International LargeCap Dividend Fund 26.7 48 -23 6.7 +1.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 26.7 45 -20 5.9 +0.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 26.3 40 -15 6.9 +1.3
JPIN JPMorgan Diversified Return International Equity ETF 25.9 37 -12 6.9 +1.2
DWM WisdomTree International Equity Fund 25.9 48 -23 6.7 +1.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 25.6 29 -4 7.1 +1.4
RESD WisdomTree International ESG Fund 25.3 30 -5 5.9 +0.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 23.5 29 -4 6.7 +1.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 23.1 25 0 5.8 +0.1
JHMD John Hancock Multifactor Developed International ETF 22.4 39 -14 6.0 +0.4
ESGD iShares MSCI EAFE ESG Optimized ETF 22.2 20 5 5.9 +0.2
VWID Virtus WMC International Dividend ETF 22.2 49 -24 7.2 +1.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 21.6 45 -20 5.7 +0.1
GSID Goldman Sachs MarketBeta International Equity ETF 21.5 20 5 5.9 +0.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 21.4 20 5 5.9 +0.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 21.4 36 -11 5.9 +0.2
EFA iShares MSCI EAFE ETF 21.4 32 -7 5.9 +0.2
IQSI IQ Candriam ESG International Equity ETF 21.3 15 10 6.0 +0.3
BKIE BNY Mellon International Equity ETF 21.1 4 21 6.3 +0.6
DTH WisdomTree International High Dividend Fund 21.0 58 -33 8.1 +2.5
PDEV Principal International Multi-Factor Core Index ETF 20.9 25 0 6.6 +0.9
FDEV Fidelity Targeted International Factor ETF 20.7 39 -14 5.5 -0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 20.6 20 5 6.2 +0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 20.5 14 11 5.7 +0.0
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 20.0 7 18 6.2 +0.5
DMXF iShares ESG Advanced MSCI EAFE ETF 19.8 12 13 5.6 -0.1
EWJE iShares MSCI Japan Equal Weighted ETF 19.6 15 10 6.1 +0.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 19.4 35 -10 5.7 +0.1
IEFA iShares Core MSCI EAFE ETF 19.2 7 18 6.1 +0.4
SCHF Schwab International Equity ETF 18.9 6 19 6.2 +0.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 18.9 25 0 6.2 +0.6
IPAC iShares Core MSCI Pacific ETF 18.8 9 16 6.1 +0.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 18.7 25 0 5.6 -0.0
IDEV iShares Core MSCI International Developed Markets ETF 18.1 5 20 6.0 +0.4
IQLT iShares Edge MSCI Intl Quality Factor ETF 17.9 30 -5 5.1 -0.6
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 17.8 45 -20 8.1 +2.5
SPDW SPDR Portfolio Developed World ex-US ETF 17.6 4 21 5.8 +0.2
EFV iShares MSCI EAFE Value ETF 17.3 39 -14 7.8 +2.2
JPXN iShares JPX-Nikkei 400 ETF 17.3 48 -23 6.1 +0.4
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 17.3 9 16 6.5 +0.8
LVHI Legg Mason International Low Volatility High Dividend ETF 17.3 40 -15 8.2 +2.6
ZJPN SPDR Solactive Japan ETF 17.2 14 11 6.4 +0.8
FLJH Franklin FTSE Japan Hedged ETF 17.2 9 16 6.6 +0.9
EFG iShares MSCI EAFE Growth ETF 17.1 40 -15 3.7 -1.9
FLJP Franklin FTSE Japan ETF 17.1 9 16 6.4 +0.8
DOO WisdomTree International Dividend ex-Financials Fund 16.9 58 -33 7.3 +1.7
EWJ iShares MSCI Japan ETF 16.9 51 -26 5.9 +0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 16.9 46 -21 6.1 +0.5
BBJP JPMorgan BetaBuilders Japan ETF 16.8 19 6 3.0 -2.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 16.5 45 -20 6.9 +1.3
CWI SPDR MSCI ACWI ex-US ETF 16.3 30 -5 6.0 +0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 16.2 39 -14 5.6 -0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 16.1 30 -5 5.8 +0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 15.8 46 -21 5.7 +0.0
FLEH Franklin FTSE Europe Hedged ETF 15.8 9 16 6.1 +0.4
BBEU JPMorgan BetaBuilders Europe ETF 15.7 9 16 3.0 -2.6
IEV iShares Europe ETF 15.7 59 -34 5.7 +0.0
FLEE Franklin FTSE Europe ETF 15.7 9 16 6.0 +0.3
ACWV iShares MSCI Global Min Vol Factor ETF 15.6 20 5 5.3 -0.4
IDHQ Invesco S&P International Developed Quality ETF 15.6 29 -4 4.9 -0.8
FNDF Schwab Fundamental International Large Co. Index ETF 15.6 25 0 7.4 +1.7
ESGN Columbia Sustainable International Equity Income ETF 15.3 45 -20 8.5 +2.8
ACWX iShares MSCI ACWI ex U.S. ETF 15.2 32 -7 6.1 +0.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 15.1 41 -16 6.0 +0.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 15.1 16 9 5.8 +0.1
IQIN IQ 500 International ETF 15.0 25 0 7.0 +1.3
RODE Hartford Multifactor Diversified International ETF 14.9 29 -4 9.4 +3.8
IEUR iShares Core MSCI Europe ETF 14.8 9 16 6.0 +0.3
DIM WisdomTree International MidCap Dividend Fund 14.7 58 -33 6.6 +0.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 14.7 24 1 6.5 +0.8
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 14.7 20 5 8.1 +2.5
SPEU SPDR Portfolio Europe ETF 14.5 9 16 6.0 +0.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 14.3 30 -5 3.7 -2.0
EFAD ProShares MSCI EAFE Dividend Growers ETF 14.2 51 -26 4.8 -0.9
FIVA Fidelity International Value Factor ETF 14.2 39 -14 8.0 +2.3
OEUR O'shares FTSE Europe Quality Dividend ETF 14.2 48 -23 4.5 -1.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 14.2 58 -33 6.0 +0.3
ISDX Invesco RAFI Strategic Developed ex-US ETF 13.7 23 2 6.0 +0.4
IXUS ishares Core MSCI Total International Stock ETF 13.6 9 16 6.2 +0.5
QINT American Century Quality Diversified International ETF 13.6 39 -14 6.2 +0.5
IQDE FlexShares International Quality Dividend Defensive Index ET 13.6 47 -22 10.3 +4.7
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 13.5 61 -36 4.3 -1.3
EWJV iShares MSCI Japan Value ETF 13.2 15 10 8.3 +2.7
NUDM Nuveen ESG International Developed Markets Equity ETF 13.1 40 -15 5.6 -0.1
RFDI First Trust Riverfront Dynamic Developed International ETF 13.0 83 -58 5.0 -0.6
IVLU iShares Edge MSCI Intl Value Factor ETF 12.9 30 -5 9.4 +3.8
UIVM VictoryShares USAA MSCI International Value Momentum ETF 12.7 35 -10 7.6 +1.9
IGRO iShares International Dividend Growth ETF 12.6 15 10 6.6 +0.9
EPP iShares MSCI Pacific ex-Japan ETF 12.6 48 -23 5.3 -0.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 12.6 58 -33 5.8 +0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 12.5 39 -14 6.6 +0.9
QWLD SPDR MSCI World StrategicFactors ETF 12.3 30 -5 5.2 -0.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 12.2 20 5 9.1 +3.4
IQDG WisdomTree International Quality Dividend Growth Fund 12.2 42 -17 6.0 +0.3
KLDW Gavekal Knowledge Leaders Developed World ETF 12.2 75 -50 4.0 -1.6
VPL Vanguard FTSE Pacific ETF 12.0 8 17 6.2 +0.6
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 11.5 19 6 2.7 -2.9
KXI iShares Global Consumer Staples ETF 11.4 46 -21 4.9 -0.8
FIDI Fidelity International High Dividend ETF 11.4 39 -14 8.1 +2.5
DWX SPDR S&P International Dividend ETF 11.4 45 -20 6.9 +1.3
EZU iShares MSCI Eurozone ETF 11.4 51 -26 5.3 -0.3
IQDF FlexShares International Quality Dividend Index Fund 11.4 47 -22 7.9 +2.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 11.2 47 -22 5.5 -0.2
VIGI Vanguard International Dividend Appreciation ETF 11.0 20 5 4.6 -1.0
AVDE Avantis International Equity ETF 10.9 23 2 6.4 +0.7
EURZ Xtrackers Eurozone Equity ETF 10.9 9 16 5.8 +0.1
FJP First Trust Japan AlphaDEX Fund 10.8 80 -55 7.7 +2.1
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 10.6 83 -58 5.3 -0.4
DXJ WisdomTree Japan Hedged Equity Fund 10.5 48 -23 7.4 +1.7
INTF iShares Edge MSCI Multifactor Intl ETF 10.4 30 -5 7.2 +1.5
VEA Vanguard FTSE Developed Markets ETF 10.4 5 20 6.1 +0.5
RFEU First Trust Riverfront Dynamic Europe ETF 10.1 83 -58 4.7 -1.0
WDIV SPDR Global Dividend ETF 9.8 40 -15 8.6 +2.9
GCOW Pacer Global High Dividend ETF 9.6 60 -35 9.5 +3.9
ICOW Pacer Developed Markets International Cash Cows 100 ETF 9.5 65 -40 9.6 +4.0
ESGG FlexShares STOXX Global ESG Impact Index Fund 9.5 42 -17 4.6 -1.1
VYMI Vanguard International High Dividend Yield ETF 9.4 27 -2 8.6 +3.0
FID First Trust S&P International Dividend Aristocrats ETF 9.3 60 -35 8.4 +2.8
DEW WisdomTree Global High Dividend Fund 9.2 58 -33 8.1 +2.5
FICS First Trust International Developed Capital Strength ETF 9.2 70 -45 4.3 -1.4
VEU Vanguard FTSE All-World ex-US Index Fund 9.1 8 17 6.4 +0.8
JSTC Adasina Social Justice All Cap Global ETF 9.0 89 -64 4.8 -0.8
EUDV ProShares MSCI Europe Dividend Growers ETF 9.0 56 -31 4.7 -0.9
VSGX Vanguard ESG International Stock ETF 8.8 17 8 6.1 +0.4
VGK Vanguard FTSE Europe ETF 8.7 8 17 6.1 +0.4
VIDI Vident International Equity Fund 8.6 59 -34 8.8 +3.2
URTH iShares MSCI World ETF 8.1 24 1 4.8 -0.9
IDOG ALPS International Sector Dividend Dogs ETF 8.1 50 -25 7.8 +2.2
HEDJ WisdomTree Europe Hedged Equity Fund 8.0 58 -33 5.4 -0.3
DSTX Distillate International Fundamental Stability & Value ETF 8.0 55 -30 6.0 +0.4
DVYA iShares Asia/Pacific Dividend ETF 8.0 49 -24 10.7 +5.1
FDT First Trust Developed Markets ex-US Alphadex Fund 7.9 80 -55 7.0 +1.3
DMDV AAM S&P Developed Markets High Dividend Value ETF 7.9 39 -14 8.7 +3.0
IDMO Invesco S&P International Developed Momentum ETF 7.8 25 0 3.3 -2.3
IDV iShares International Select Dividend ETF 7.7 49 -24 9.2 +3.5
VXUS Vanguard Total International Stock ETF 7.5 8 17 6.3 +0.7
LOWC SPDR MSCI ACWI Low Carbon Target ETF 7.1 20 5 5.1 -0.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 7.0 20 5 5.1 -0.5
EWH iShares MSCI Hong Kong ETF 7.0 51 -26 5.7 +0.1
ACWI iShares MSCI ACWI ETF 6.9 32 -7 4.9 -0.7
FEP First Trust Europe AlphaDEX Fund 6.8 80 -55 6.5 +0.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 6.8 47 -22 8.7 +3.0
WWJD Inspire International ESG ETF 6.8 80 -55 5.3 -0.4
MOTI VanEck Vectors Morningstar International Moat ETF 6.8 58 -33 7.6 +2.0
XT iShares Exponential Technologies ETF 6.5 47 -22 4.4 -1.2
FGD First Trust Dow Jones Global Select Dividend Index Fund 6.5 59 -34 10.5 +4.9
SPGM SPDR Portfolio MSCI Global Stock Market ETF 6.4 9 16 5.1 -0.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 6.4 58 -33 4.9 -0.8
FYLD Cambria Foreign Shareholder Yield ETF 6.3 59 -34 6.7 +1.0
INFR Legg Mason Global Infrastructure ETF 6.2 40 -15 4.9 -0.7
DGT SPDR Global Dow ETF 6.2 50 -25 6.1 +0.4
NXTG First Trust Indxx NextG ETF 6.2 70 -45 5.1 -0.6
KOKU Xtrackers MSCI Kokusai Equity ETF 6.2 9 16 4.8 -0.8
TOK iShares MSCI Kokusai ETF 6.2 25 0 4.7 -1.0
ZHOK SPDR Solactive Hong Kong ETF 6.2 14 11 5.7 0.0
DBGR Xtrackers MSCI Germany Hedged Equity ETF 6.1 45 -20 6.0 +0.3
JXI iShares Global Utilities ETF 5.8 46 -21 5.3 -0.4
IXJ iShares Global Healthcare ETF 5.8 46 -21 6.0 +0.4
FLHK Franklin FTSE Hong Kong ETF 5.8 9 16 6.4 +0.7
FLSW Franklin FTSE Switzerland ETF 5.8 9 16 4.8 -0.8
EWL iShares MSCI Switzerland ETF 5.8 51 -26 4.3 -1.3
IOO iShares Global 100 ETF 5.7 40 -15 4.6 -1.1
FEZ SPDR EURO STOXX 50 ETF 5.6 29 -4 5.4 -0.3
EWG iShares MSCI Germany ETF 5.5 51 -26 5.8 +0.2
EXI iShares Global Industrials ETF 5.4 46 -21 4.3 -1.4
PIZ Invesco DWA Developed Markets Momentum ETF 5.4 80 -55 3.2 -2.5
FLGR Franklin FTSE Germany ETF 5.3 9 16 6.3 +0.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 5.2 80 -55 7.2 +1.5
FEUZ First Trust Eurozone AlphaDEX ETF 5.2 80 -55 6.2 +0.6
EWS iShares MSCI Singapore ETF 5.1 51 -26 6.3 +0.7
ZDEU SPDR Solactive Germany ETF 5.1 14 11 6.7 +1.0
HAUZ Xtrackers International Real Estate ETF 5.1 10 15 7.4 +1.7
SCJ iShares MSCI Japan Small-Cap ETF 5.0 51 -26 5.7 +0.1
EFAS Global X MSCI SuperDividend EAFE ETF 4.8 56 -31 7.5 +1.9
IFGL iShares International Developed Real Estate ETF 4.8 48 -23 6.1 +0.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 4.8 49 -24 4.4 -1.2
WPS iShares International Developed Property ETF 4.7 48 -23 6.2 +0.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 4.7 47 -22 5.1 -0.5
MXI iShares Global Materials ETF 4.7 45 -20 5.0 -0.7
DRW WisdomTree Global ex-US Real Estate Fund 4.6 58 -33 8.9 +3.2
ZGBR SPDR Solactive United Kingdom ETF 4.5 14 11 7.1 +1.4
FLGB Franklin FTSE United Kingdom ETF 4.4 9 16 6.9 +1.2
JIG JPMorgan International Growth ETF 4.3 55 -30 2.5 -3.2
EWU iShares MSCI United Kingdom ETF 4.3 51 -26 6.6 +0.9
GDVD Principal Active Global Dividend Income ETF 4.2 58 -33 0.0 -5.7
SDG iShares Sustainable MSCI Global Impact ETF 4.2 49 -24 5.3 -0.4
JOYY Infusive Compounding Global Equities ETF 4.2 50 -25 3.5 -2.2
BLES Inspire Global Hope Large Cap ETF 4.2 52 -27 4.9 -0.8
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 4.1 60 -35 5.4 -0.2
SDGA Impact Shares Sustainable Development Goals Global ETF 4.1 75 -50 4.7 -0.9
IVAL Alpha Architect International Quantitative Value ETF 4.0 59 -34 7.7 +2.0
DXGE WisdomTree Germany Hedged Equity Fund 4.0 48 -23 7.3 +1.6
VT Vanguard Total World Stock ETF 4.0 8 17 5.2 -0.4
AIA iShares Asia 50 ETF 3.9 50 -25 5.9 +0.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 3.9 70 -45 5.7 +0.1
ACWF iShares MSCI Global Multifactor ETF 3.9 35 -10 6.6 +1.0
DIVS SmartETFs Dividend Builder ETF 3.8 65 -40 5.5 -0.2
FNDC Schwab Fundamental International Small Co. Index ETF 3.8 39 -14 5.0 -0.6
HART IQ Healthy Hearts ETF 3.8 45 -20 4.7 -1.0
VNQI Vanguard Global ex-U.S. Real Estate ETF 3.7 12 13 8.5 +2.9
GXF Global X FTSE Nordic Region ETF 3.7 56 -31 7.3 +1.6
AIIQ AI Powered International Equity ETF 3.7 79 -54 4.0 -1.7
FLAX Franklin FTSE Asia Ex Japan ETF 3.7 19 6 6.5 +0.8
LEGR First Trust Indxx Innovative Transaction & Process ETF 3.7 65 -40 8.0 +2.4
GOAT VanEck Vectors Morningstar Global Wide Moat ETF 3.6 52 -27 4.7 -0.9
DAX Global X DAX Germany ETF 3.6 21 4 6.2 +0.6
IXP iShares Global Comm Services ETF 3.6 46 -21 4.8 -0.9
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF 3.6 50 -25 3.3 -2.3
EWA iShares MSCI Australia ETF 3.5 51 -26 5.0 -0.6
FSZ First Trust Switzerland AlphaDEX Fund 3.5 80 -55 3.6 -2.0
FLAU Franklin FTSE Australia ETF 3.4 9 16 5.5 -0.2
IXG iShares Global Financials ETF 3.4 46 -21 7.9 +2.2
IMFL Invesco International Developed Dynamic Multifactor ETF 3.4 34 -9 8.1 +2.5
BBCA JPMorgan BetaBuilders Canada ETF 3.2 19 6 3.0 -2.6
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 3.2 47 -22 4.6 -1.0
FLFR Franklin FTSE France ETF 3.1 9 16 5.3 -0.4
EWQ iShares MSCI France ETF 3.1 51 -26 4.9 -0.7
RXI iShares Global Consumer Discretionary ETF 3.1 46 -21 3.5 -2.1
FLCA Franklin FTSE Canada ETF 3.0 9 16 6.5 +0.9
GVAL Cambria Global Value ETF 3.0 65 -40 8.5 +2.9
FGM First Trust Germany AlphaDEX Fund 3.0 80 -55 5.2 -0.4
EDEN iShares MSCI Denmark Capped ETF 3.0 53 -28 4.7 -0.9
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 2.9 68 -43 4.3 -1.3
ZCAN SPDR Solactive Canada ETF 2.9 14 11 6.4 +0.7
GRES IQ Global Resources ETF 2.9 78 -53 5.6 -0.1
EWD iShares MSCI Sweden ETF 2.9 51 -26 7.4 +1.7
WLDR Affinity World Leaders Equity ETF 2.7 47 -22 7.6 +1.9
ASEA Global X Southeast Asia ETF 2.7 65 -40 7.6 +1.9
EWC iShares MSCI Canada ETF 2.6 51 -26 6.0 +0.3
ANEW ProShares MSCI Transformational Changes ETF 2.6 45 -20 2.6 -3.1
RWX SPDR Dow Jones International Real Estate ETF 2.5 59 -34 5.4 -0.3
EWN iShares MSCI Netherlands ETF 2.5 51 -26 3.9 -1.8
DWCR Arrow DWA Country Rotation ETF 2.4 136 -111 3.2 -2.4
GQRE FlexShares Global Quality Real Estate Index Fund 2.3 45 -20 5.7 +0.1
RWO SPDR Dow Jones Global Real Estate ETF 2.2 50 -25 5.3 -0.3
SCZ iShares MSCI Eafe Small-Cap ETF 2.2 40 -15 5.2 -0.5
DFJ WisdomTree Japan SmallCap Dividend Fund 2.2 58 -33 8.0 +2.4
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 2.2 58 -33 8.2 +2.6
FLM First Trust Global Engineering and Construction ETF 2.0 70 -45 7.4 +1.8
OBOR KraneShares MSCI One Belt One Road Index ETF 2.0 79 -54 7.4 +1.7
FKU First Trust United Kingdom AlphaDEX Fund 2.0 80 -55 7.3 +1.6
EFNL iShares MSCI Finland Capped ETF 2.0 53 -28 4.7 -1.0
IPKW Invesco International BuyBack Achievers ETF 1.9 55 -30 6.3 +0.6
NORW Global X MSCI Norway ETF 1.9 50 -25 7.6 +2.0
ENOR iShares MSCI Norway ETF 1.9 53 -28 7.6 +2.0
SMEZ SPDR EURO STOXX Small Cap ETF 1.9 45 -20 5.7 +0.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.8 70 -45 2.1 -3.6
EUFN iShares MSCI Europe Financials ETF 1.7 48 -23 9.6 +4.0
GLIF AGFiQ Global Infrastructure ETF 1.6 45 -20 4.2 -1.4
HAP VanEck Vectors Natural Resources ETF 1.6 50 -25 5.0 -0.7
FPXI First Trust International Equity Opportunities ETF 1.5 70 -45 2.3 -3.4
EIS iShares MSCI Israel ETF 1.5 59 -34 6.4 +0.8
DTEC ALPS Disruptive Technologies ETF 1.5 50 -25 2.7 -3.0
ISRA VanEck Vectors Israel ETF 1.5 62 -37 5.3 -0.3
HJEN Direxion Hydrogen ETF 1.5 45 -20 -0.2 -5.8
PIO Invesco Global Water ETF 1.5 75 -50 3.5 -2.2
INFL Horizon Kinetics Inflation Beneficiaries ETF 1.5 85 -60 3.4 -2.2
ADIV SmartETFs Asia Pacific Dividend Builder ETF 1.5 78 -53 7.9 +2.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 1.5 46 -21 5.5 -0.2
IDNA iShares Genomics Immunology & Healthcare ETF 1.5 47 -22 -2.8 -8.5
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.4 65 -40 1.4 -4.2
BMED BlackRock Future Health ETF 1.3 85 -60 -0.7 -6.4
IEUS iShares MSCI Europe Small-Cap ETF 1.1 40 -15 5.0 -0.7
KOIN Innovation Shares NextGen Protocol ETF 1.1 95 -70 3.6 -2.0
IXN iShares Global Tech ETF 1.1 46 -21 3.7 -2.0
FDVV Fidelity Core Dividend ETF 1.1 29 -4 6.1 +0.4
MJ ETFMG Alternative Harvest ETF 1.1 75 -50 -2.5 -8.2
EBLU Ecofin Global Water ESG Fund 1.0 40 -15 3.6 -2.1
CGW Invesco S&P Global Water Index ETF 1.0 57 -32 3.6 -2.1
AGNG Global X Aging Population ETF 1.0 50 -25 3.2 -2.4
AVDV Avantis International Small Cap Value ETF 1.0 36 -11 6.3 +0.6
CZA Invesco Zacks Mid-Cap ETF 1.0 69 -44 5.3 -0.4
GII SPDR S&P Global Infrastructure ETF 1.0 40 -15 4.2 -1.5
IGF iShares Global Infrastructure ETF 1.0 46 -21 4.1 -1.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 1.0 58 -33 6.6 +1.0
CRAK VanEck Vectors Oil Refiners ETF 1.0 60 -35 7.1 +1.5
DINT Davis Select International ETF 1.0 65 -40 5.3 -0.3
BFIT Global X Health & Wellness ETF 1.0 50 -25 3.9 -1.8
NKEF Sample Portfolio 1.0 0 25 3.8 -1.9
PBD Invesco Global Clean Energy ETF 1.0 75 -50 0.4 -5.2
HTEC ROBO Global Healthcare Technology & Innovation ETF 1.0 68 -43 1.1 -4.6
EWP iShares MSCI Spain ETF 1.0 51 -26 7.2 +1.6
BNE Blue Horizon BNE ETF 1.0 87 -62 2.7 -2.9
REET iShares Global REIT ETF 1.0 14 11 5.6 -0.1
SPRE SP Funds S&P Global REIT Sharia ETF 1.0 69 -44 3.5 -2.2
IDRV iShares Self-driving EV & Tech ETF 1.0 47 -22 5.1 -0.6
AIQ Global X Future Analytics Tech ETF 1.0 68 -43 3.2 -2.4
FDD First Trust Stoxx European Select Dividend Index Fund 1.0 58 -33 8.2 +2.6
PGAL Global X FTSE Portugal 20 ETF 1.0 58 -33 6.3 +0.6
FTRI First Trust Indxx Global Natural Resources Income ETF 0.9 70 -45 9.0 +3.3
BOTZ Global X Robotics & Artificial Intelligence ETF 0.9 68 -43 2.3 -3.4
ROBO Robo Global Robotics & Automation Index ETF 0.9 95 -70 2.2 -3.4
WOOD iShares Global Timber & Forestry ETF 0.9 46 -21 7.0 +1.3
CUT Invesco MSCI Global Timber ETF 0.9 61 -36 6.6 +0.9
FAN First Trust Global Wind Energy ETF 0.9 62 -37 3.7 -1.9
DLS WisdomTree International SmallCap Dividend Fund 0.9 58 -33 8.0 +2.3
DDLS WisdomTree Dynamic Currency Hedged International SmallCap Eq 0.9 48 -23 8.1 +2.5
FDRR Fidelity Dividend ETF for Rising Rates 0.9 29 -4 6.2 +0.5
FLIY Franklin FTSE Italy ETF 0.9 9 16 7.5 +1.9
GNR SPDR S&P Global Natural Resources ETF 0.9 40 -15 5.7 +0.1
NLR VanEck Vectors Uranium+Nuclear Energy ETF 0.9 61 -36 7.0 +1.3
FILL iShares MSCI Global Energy Producers ETF 0.8 39 -14 5.7 +0.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 0.7 70 -45 3.4 -2.3
GAMR ETFMG Video Game Tech ETF 0.7 75 -50 2.8 -2.9
PAWZ ProShares Pet Care ETF 0.7 50 -25 2.3 -3.4
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 0.6 75 -50 1.8 -3.8
GENY Principal Millennials Index ETF 0.6 45 -20 3.0 -2.6
CEZ VictoryShares Emerging Market Volatility Wtd ETF 0.6 50 -25 9.8 +4.1
IVES Wedbush ETFMG Global Cloud Technology ETF 0.5 68 -43 2.0 -3.6
URA Global X Uranium ETF 0.5 69 -44 1.2 -4.5
EWO iShares MSCI Austria ETF 0.5 51 -26 7.8 +2.1
AUSF Global X Adaptive U.S. Factor ETF 0.5 27 -2 7.2 +1.6
FXH First Trust Health Care AlphaDEX Fund 0.5 61 -36 5.3 -0.4
BBH VanEck Vectors Biotech ETF 0.5 35 -10 3.8 -1.8
GURU Global X Guru Index ETF 0.5 75 -50 2.6 -3.0
HELX Franklin Genomic Advancements ETF 0.5 50 -25 -1.0 -6.6
PBE Invesco Dynamic Biotechnology & Genome ETF 0.5 58 -33 -1.1 -6.7
FBT First Trust NYSE Arca Biotechnology Index Fund 0.5 55 -30 -1.6 -7.2
GNOM Global X Genomics & Biotechnology ETF 0.5 50 -25 -2.5 -8.2
HERO Global X Video Games & Esports ETF 0.5 50 -25 3.9 -1.8
HERU-GB Global X Video Games & Esports UCITS ETF 0.5 50 -25 3.4 -2.2
ESPO VanEck Vectors Video Gaming & eSports ETF 0.5 55 -30 3.0 -2.7
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 0.5 25 0 2.7 -3.0
LOUP Innovator Loup Frontier Tech ETF 0.5 70 -45 1.8 -3.9
IWFH iShares Virtual Work and Life Multisector ETF 0.5 47 -22 0.5 -5.1
EDUT Global X Education ETF 0.5 50 -25 2.0 -3.6
KRMA Global X Conscious Companies ETF 0.5 43 -18 4.8 -0.9
IVLC Invesco US Large Cap Core ESG ETF 0.5 48 -23 4.1 -1.5
RYJ Invesco Raymond James SB-1 Equity ETF 0.5 76 -51 3.1 -2.6
ECLN First Trust EIP Carbon Impact ETF 0.5 97 -72 3.0 -2.6
PPA Invesco Aerospace & Defense ETF 0.5 59 -34 5.4 -0.3
ARKX ARK Space Exploration & Innovation ETF 0.5 75 -50 3.0 -2.7
ITEQ BlueStar Israel Technology ETF 0.5 75 -50 1.6 -4.1
ARKQ Ark Industrial Innovation ETF 0.5 75 -50 1.4 -4.3
IZRL ARK Israel Innovative Technology ETF 0.5 49 -24 -0.7 -6.4
HDRO Defiance Next Gen H2 ETF 0.5 30 -5 -10.3 -16.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.5 95 -70 8.4 +2.8
AQWA Global X Clean Water ETF 0.5 50 -25 3.6 -2.1
RNEM First Trust Emerging Markets Equity Select ETF 0.5 75 -50 9.8 +4.2
DWLD Davis Select Worldwide ETF 0.5 63 -38 6.1 +0.4
DFNL Davis Select Financial ETF 0.5 64 -39 6.1 +0.4
DUSA Davis Select U.S. Equity ETF 0.5 62 -37 6.1 +0.4
QLV FlexShares US Quality Low Volatility Index Fund 0.5 22 3 4.2 -1.5
CARZ First Trust NASDAQ Global Auto Index Fund 0.5 70 -45 8.9 +3.2
IXC iShares Global Energy ETF 0.5 46 -21 5.3 -0.4
MOTO SmartETFs Smart Transportation & Technology ETF 0.5 68 -43 5.2 -0.5
EKAR Innovation Shares NextGen Vehicles & Technology ETF 0.5 95 -70 4.8 -0.9
DRIV Global X Autonomous & Electric Vehicles ETF 0.5 68 -43 4.4 -1.3
PZD Invesco Cleantech ETF 0.5 65 -40 3.6 -2.1
ENZL iShares MSCI New Zealand Capped ETF 0.5 51 -26 2.7 -2.9
SULR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 0.5 79 -54 3.8 -1.8
IQM Franklin Intelligent Machines ETF 0.5 50 -25 1.7 -4.0
EWI iShares MSCI Italy ETF 0.5 51 -26 7.0 +1.3
EWUS iShares MSCI United Kingdom Small Cap ETF 0.5 59 -34 5.3 -0.4
LUXE Emles Luxury Goods ETF 0.5 60 -35 1.6 -4.1
FVD First Trust Value Line Dividend Index Fund 0.5 70 -45 5.3 -0.4
FVL First Trust Value Line 100 ETF 0.5 70 -45 0.0 -5.7
EIRL iShares MSCI Ireland Capped ETF 0.5 51 -26 4.7 -1.0
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 0.5 40 -15 7.1 +1.5
QTUM Defiance Quantum ETF 0.5 40 -15 4.4 -1.2
BUYZ Franklin Disruptive Commerce ETF 0.5 50 -25 -0.1 -5.8
EWK iShares MSCI Belgium Capped ETF 0.5 51 -26 6.1 +0.4
FTAG First Trust Indxx Global Agriculture ETF 0.5 70 -45 4.7 -0.9
VEGI iShares MSCI Global Agriculture Producers ETF 0.5 39 -14 4.2 -1.5
MOO VanEck Vectors Agribusiness ETF 0.5 56 -31 4.0 -1.6
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 0.4 45 -20 12.3 +6.7
CHII Global X MSCI China Industrials ETF 0.4 66 -41 9.4 +3.7
KESG KraneShares MSCI China ESG Leaders Index ETF 0.4 59 -34 8.8 +3.1
PSP Invesco Global Listed Private Equity ETF 0.4 158 -133 5.7 +0.0
IRBO iShares Robotics and Artificial Intelligence Multisector ETF 0.4 47 -22 1.3 -4.4
SCHC Schwab International Small-Cap Equity ETF 0.4 11 14 5.0 -0.6
VIRS Pacer BioThreat Strategy ETF 0.4 70 -45 4.9 -0.7
ESGE iShares ESG Aware MSCI EM ETF 0.4 25 0 6.7 +1.1
JEMA JPMorgan Emerging Markets Equity Core ETF 0.4 39 -14 5.8 +0.1
RBUS Nationwide Risk-Based U.S. Equity ETF 0.3 30 -5 4.6 -1.1
JMIN JPMorgan U.S. Minimum Volatility ETF 0.3 12 13 5.3 -0.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.3 80 -55 8.3 +2.6
RESE WisdomTree Emerging Markets ESG Fund 0.3 32 -7 6.6 +1.0
ROAM Hartford Multifactor Emerging Markets ETF 0.3 44 -19 10.1 +4.4
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 0.3 24 1 5.4 -0.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 0.2 35 -10 4.8 -0.8
PRNT The 3D Printing ETF 0.2 66 -41 1.3 -4.3
FEM First Trust Emerging Markets AlphaDEX Fund 0.2 80 -55 10.8 +5.1
BKEM BNY Mellon Emerging Markets Equity ETF 0.2 18 7 6.8 +1.2
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.2 9 16 4.8 -0.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.2 59 -34 10.2 +4.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 0.2 32 -7 5.8 +0.2
SMMD iShares Russell 2500 ETF 0.2 15 10 4.6 -1.1
IWS iShares Russell Mid-Cap Value ETF 0.2 24 1 5.3 -0.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.2 36 -11 6.9 +1.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 0.1 9 16 4.8 -0.9
KALL KraneShares MSCI All China Index ETF 0.1 49 -24 7.3 +1.6
MCHI iShares MSCI China ETF 0.1 59 -34 6.8 +1.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.1 39 -14 12.2 +6.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.1 30 -5 6.5 +0.8
FLCH Franklin FTSE China ETF 0.1 19 6 7.6 +2.0
IWR iShares Russell Midcap ETF 0.1 19 6 4.4 -1.3
LDEM iShares ESG MSCI EM Leaders ETF 0.1 16 9 6.5 +0.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.1 20 5 5.8 +0.2
PXH Invesco FTSE RAFI Emerging Markets ETF 0.1 50 -25 12.6 +7.0
ISEM Invesco RAFI Strategic Emerging Markets ETF 0.1 35 -10 9.1 +3.5
AVEM Avantis Emerging Markets Equity ETF 0.1 33 -8 7.8 +2.1
BKF iShares MSCI BRIC ETF 0.1 70 -45 6.4 +0.7
CN Xtrackers MSCI All China Equity ETF 0.1 50 -25 7.0 +1.4
PBUS Invesco PureBeta MSCI USA ETF 0.1 4 21 4.5 -1.1
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF 0.1 44 -19 7.7 +2.0
EEMA iShares MSCI Emerging Markets Asia ETF 0.1 50 -25 6.4 +0.8
EQAL Invesco Russell 1000 Equal Weight ETF 0.1 20 5 4.8 -0.8
SFY SoFi Select 500 ETF 0.1 0 25 4.5 -1.1
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 0.1 29 -4 5.0 -0.7
VONV Vanguard Russell 1000 Value Index Fund 0.1 8 17 11.6 +5.9
IWD iShares Russell 1000 Value ETF 0.1 19 6 5.6 -0.0
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 0.1 17 8 5.4 -0.3
IUS Invesco Strategic US ETF 0.1 19 6 5.1 -0.6
DFAE Dimensional Emerging Core Equity Market ETF 0.1 35 -10 6.9 +1.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 0.1 16 9 7.4 +1.7
ONEO SPDR Russell 1000 Momentum Focus ETF 0.1 20 5 5.3 -0.4
GWX SPDR S&P International Small Cap ETF 0.1 40 -15 5.0 -0.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -41 6.1 +0.5
EEM iShares MSCI Emerging Markets ETF 0.0 70 -45 6.1 +0.4
SCHE Schwab Emerging Markets Equity ETF 0.0 11 14 7.3 +1.6
IEMG iShares Core MSCI Emerging Markets ETF 0.0 11 14 6.7 +1.1
VONE Vanguard Russell 1000 ETF 0.0 8 17 4.5 -1.2
IWB iShares Russell 1000 ETF 0.0 15 10 4.4 -1.3
VTHR Vanguard Russell 3000 Index Fund 0.0 10 15 4.3 -1.3
IWV iShares Russell 3000 ETF 0.0 20 5 4.2 -1.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 11 14 5.3 -0.3
VWO Vanguard FTSE Emerging Markets ETF 0.0 10 15 7.1 +1.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.0 30 -5 7.5 +1.9

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

  2016 2017 2018 2019 2020 2021E 2022E
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
  2020 2021E 2022E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Invesco S&P International Developed Low Volatility ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.4 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.67 CATEGORY
AVERAGE		 1.54
 
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.