Innovation Global
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.4x P/Sales
ratio
1.3x
P/BV
ratio
2.2x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Innovation Global ETF tracks global portfolio of stocks of companies selected and weighted by characteristics indicating the strength of their intellectual property (IP).

FUND BASICS
Category Global Equities
Fund Sponsor M-CAM International LLC
Website etf.m-cam.com
Inception date Jun 05, 2019
Assets (mns) $1
Currency USD
Expense ratio 81 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 120
Wgt avg mkt cap (mns) $96,434
Large cap (>$10bn) 87.2%
Mid cap ($2-10bn) 12.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BAYER AG 3.0 %
PPR 2.0 %
DAIMLER AG-REGISTERED SHARES 1.9 %
ADIDAS AG 1.7 %
ANGLO AMERICAN PLC 1.5 %
TOKYO ELECTRON LTD 1.5 %
THALES SA 1.5 %
MICRON TECHNOLOGY INC 1.3 %
BP PLC 1.3 %
UMICORE 1.3 %
Total 17.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 56.9 %
JAPAN 9.5 %
BRITAIN 8.4 %
GERMANY 6.6 %
FRANCE 3.5 %
CANADA 3.0 %
IRELAND 3.0 %
BELGIUM 2.5 %
NETHERLANDS 2.1 %
SWEDEN 1.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 01)
Year-to-date 1 year 5 years 10 years Since Incep.
-- -- -- -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $28.45
30d moving avg. $27.57
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $45,505

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Innovation Global ETF based on the alternatives' overlap in portfolio holdings with INAG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: INAG Expense: 81 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH INAG
Ticker Fund
Name
Overlap1
vs INAG
(%)
Expense
ratio
(bp)
Savings
vs INAG
(bp)
ALTAR
Score™
(%)
ALTAR
vs INAG
(%)
TWAR Innovation Trade War 87.7 81 0 6.5 -0.1
INAU Innovation United States 39.4 81 0 5.4 -1.1
EQWL Invesco Fundamental Pure Large Core 27.2 25 56 6.4 -0.1
KRMA Global X Conscious Companies 27.1 43 38 6.2 -0.4
SPXN ProShares S&P 500 Ex-Financials 26.7 27 54 5.9 -0.6
IUS Invesco Strategic US 26.5 19 62 6.7 +0.1
MGC Vanguard Mega Cap 300 ETF 26.4 7 74 5.8 -0.7
IWL iShares Russell Top 200 26.2 15 66 5.7 -0.9
NACP Impact Shares NAACP Minority Empowerment 26.2 75 6 5.6 -1.0
PBP Invesco S&P 500 Buy/Write 26.0 49 32 5.6 -1.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index 25.7 15 66 5.4 -1.1
HSPX Global X S&P 500 Covered Call 25.7 65 16 5.4 -1.1
SPY S&P 500 SPDR 25.4 9 72 5.9 -0.7
IVV iShares Core S&P 500 25.4 4 77 5.9 -0.6
VOO Vanguard S&P 500 ETF 25.4 3 78 6.0 -0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity 25.4 20 61 5.6 -0.9
DGT SPDR DJ Global Titans ETF 25.2 50 31 6.8 +0.3
EPS WisdomTree Earnings 500 25.1 8 73 6.9 +0.4
PBUS Invesco PureBeta MSCI USA 25.0 4 77 6.0 -0.6
BBUS JP Morgan Betabuilders U.S. Equity 25.0 2 79 5.9 -0.7

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

  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:
Innovation Global
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 14.8 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 81 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.