Columbia India Consumer
ALTAR
Score™
6.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
26.6x P/Sales
ratio
0.7x
P/BV
ratio
2.5x Div.
yield
1.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Columbia India Consumer ETF& tracks the Indxx India Consumer Index, a market-cap-weighted index of 30 Indian consumer discretionary stocks listed on the National Stock exchange or the Bombay Stock Exchange.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Columbia
Website www.columbiathreadneedleetf.com
Inception date Aug 10, 2011
Assets (mns) $105
Currency USD
Expense ratio 75 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $4,243
Large cap (>$10bn) 36.4%
Mid cap ($2-10bn) 63.0%
Small cap (<$2bn) 0.7%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
EICHER MOTORS LTD 4.6 %
ITC LTD 4.1 %
TATA MOTORS LTD 3.8 %
AVENUE SUPERMARTS LTD. 3.3 %
JUBILANT FOODWORKS LTD 2.0 %
HERO HONDA MOTORS LIMITED 1.8 %
EXIDE INDUSTRIES LTD 1.4 %
RAJESH EXPORTS LTD 1.2 %
MARUTI SUZUKI INDIA LTD 1.2 %
BAJAJ AUTO LIMITED 1.2 %
Total 24.6 %

TOP COUNTRY EXPOSURE
INDIA 28.7 %










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.
-0.2% 13.6% 6.7% -- 10.4%

Market Correlations
versus... Beta R-squared
S&P500 0.05 0%
MSCI EAFE 0.49 8%
MSCI Emg. Mkts. 0.53 16%

Technical Indicators
Recent close $41.87
30d moving avg. $42.70
Annualized volatility 19.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.4%
Bid/Ask (% of price) 0.61%
ADV underlying (mns) $34

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: INCO Expense: 75 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH INCO
Ticker Fund
Name
Overlap1
vs INCO
(%)
Expense
ratio
(bp)
Savings
vs INCO
(bp)
ALTAR
Score™
(%)
ALTAR
vs INCO
(%)
NFTY First Trust India NIFTY 50 Equal Weight 12.3 80 -5 8.9 +2.1
INDY iShares S&P India Nifty 50 9.5 94 -19 6.1 -0.7
INDA iShares MSCI India 9.4 64 11 6.6 -0.1
FLIN Franklin FTSE India 8.8 19 56 6.8 +0.1
PIN Invesco India 8.4 82 -7 7.0 +0.2
IXSE WisdomTree India Ex-State-Owned Enterprises 7.5 58 17 6.0 -0.8
EPI WisdomTree India Earnings 7.0 85 -10 9.7 +3.0
ECON Columbia Emerging Markets Consumer 6.1 59 16 5.2 -1.6
SMIN iShares MSCI India Small Cap 3.8 77 -2 5.7 -1.1
BKF iShares MSCI BRIC 2.2 67 8 8.9 +2.1
QEMM SPDR MSCI Emerging Markets Quality Mix 2.2 30 45 9.3 +2.6
MXDE Nationwide Maximum Diversification Emg Mkts Core 2.0 64 11 5.5 -1.3
EMCG WisdomTree Emg Mkts Consumer Growth 1.9 32 43 6.7 -0.0
EEMA iShares MSCI Emg Mkts Asia 1.7 50 25 8.7 +2.0
CEZ Victory CEMP Emerging Market Volatility Weighted 1.7 50 25 9.2 +2.4
JHEM John Hancock Multifactor Emerging Markets 1.6 55 20 8.9 +2.1
FDEM Fidelity Targeted Emerging Markets Factor 1.5 45 30 8.8 +2.0
FLAX Franklin FTSE Asia Ex Japan 1.5 19 56 8.7 +1.9
KEMX KraneShares MSCI Emerging Markets EX China Index 1.5 49 26 8.7 +1.9
EMDV ProShares MSCI Emerging Markets Dividend Growers 1.5 60 15 8.2 +1.4

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

  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:
Columbia India Consumer
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 17.5 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.49
 
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.