Columbia India Consumer ETF
ALTAR
Score™		 1.5% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 48.5x P/Sales
ratio		 4.6x
P/BV
ratio		 11.0x 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) $443
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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 14
Wgt avg mkt cap (mns) $21,524
Large cap (>$10bn) 81.8%
Mid cap ($2-10bn) 18.2%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
GODREJ CONSUMER PRODUCTS LTD 13.7 %
NESTLE INDIA LTD 11.8 %
BRITANNIA INDUSTRIES LTD 10.0 %
BAJAJ AUTO LIMITED 9.2 %
DABUR INDIA LIMITED 8.4 %
UNITED SPIRITS LIMITED 8.3 %
MOTHERSON SUMI SYSTEMS LTD 8.2 %
HINDUSTAN UNILEVER LIMITED 8.0 %
BHARAT FORGE LIMITED 7.0 %
MARICO LTD 6.3 %
Total 90.7 %

TOP COUNTRY EXPOSURE
INDIA 88.0 %










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.
15.1% 32.2% 13.5% 10.0% 11.6%

Market Correlations
versus... Beta R-squared
S&P500 0.52 38%
MSCI EAFE 0.45 29%
MSCI Emg. Mkts. 0.42 25%

Technical Indicators
Recent close $67.64
30d moving avg. $73.89
Annualized volatility 14.8%
Short interest (ETF) 1.1%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 57
Turnover 0.9%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $42

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 94 potential alternatives to the Columbia India Consumer ETF 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™: 1.5%


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 ETF 9.9 80 -5 6.3 +4.7
NDIA Global X India Active ETF 8.8 75 0 7.2 +5.7
PIN Invesco India ETF 7.4 78 -3 4.5 +3.0
INDA iShares MSCI India ETF 6.5 65 10 4.4 +2.8
FLIN Franklin FTSE India ETF 6.3 19 56 4.7 +3.2
INDY iShares India 50 ETF 6.2 89 -14 4.6 +3.1
GLIN VanEck India Growth Leaders ETF 5.3 77 -2 5.7 +4.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 4.6 25 50 6.6 +5.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.1 40 35 8.3 +6.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.7 30 45 8.1 +6.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 3.4 32 43 6.9 +5.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.2 95 -20 10.5 +9.0
EPI WisdomTree India Earnings Fund 3.2 85 -10 6.1 +4.5
RNEM First Trust Emerging Markets Equity Select ETF 2.9 75 0 7.6 +6.0
EMMF WisdomTree Emerging Markets Multifactor Fund 2.8 48 27 8.8 +7.3
BKF iShares MSCI BIC ETF 2.5 69 6 6.9 +5.4
EEMO Invesco S&P Emerging Markets Momentum ETF 2.5 29 46 5.5 +4.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.3 24 51 9.2 +7.7
XC WisdomTree Emerging Markets Ex-China Fund 2.3 32 43 6.0 +4.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.3 60 15 9.8 +8.3
STXE Strive Emerging Markets Ex-China ETF 2.0 32 43 7.0 +5.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.0 32 43 6.2 +4.7
GMF SPDR S&P Emerging Asia Pacific ETF 1.9 49 26 6.1 +4.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.9 30 45 7.3 +5.8
EMXC iShares MSCI Emerging Markets ex China ETF 1.8 25 50 6.7 +5.2
EQLT iShares MSCI Emerging Markets Quality Factor ETF 1.8 35 40 7.4 +5.9
EMXF iShares ESG Advanced MSCI EM ETF 1.8 16 59 6.8 +5.3
FEM First Trust Emerging Markets AlphaDEX Fund 1.8 80 -5 13.0 +11.5
XCNY SPDR S&P Emerging Markets ex-China ETF 1.8 15 60 6.3 +4.8
EMM Global X Emerging Markets ex-China ETF 1.7 75 0 4.2 +2.7
EEMA iShares MSCI Emerging Markets Asia ETF 1.7 49 26 6.5 +5.0
JHEM John Hancock Multifactor Emerging Markets ETF 1.7 49 26 8.2 +6.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.6 44 31 10.6 +9.1
DEHP Dimensional Emerging Markets High Profitability ETF 1.6 41 34 5.0 +3.5
FLAX Franklin FTSE Asia Ex Japan ETF 1.6 19 56 6.9 +5.3
ESGE iShares ESG Aware MSCI EM ETF 1.6 25 50 7.1 +5.6
FDEM Fidelity Emerging Markets Multifactor ETF 1.6 25 50 12.3 +10.8
SPEM SPDR Portfolio Emerging Markets ETF 1.5 7 68 7.3 +5.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.5 15 60 10.2 +8.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.5 70 5 6.2 +4.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.5 33 42 8.2 +6.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.5 41 34 7.4 +5.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.5 15 60 7.2 +5.7
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 1.5 18 57 6.8 +5.3
SCHE Schwab Emerging Markets Equity ETF 1.5 11 64 7.1 +5.6
EMC Global X Emerging Markets Great Consumer ETF 1.5 75 0 4.5 +3.0
NUEM Nuveen ESG Emerging Markets Equity ETF 1.5 36 39 6.5 +5.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.4 66 9 10.0 +8.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.4 36 39 7.8 +6.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.4 11 64 8.4 +6.9
EEM iShares MSCI Emerging Markets ETF 1.3 69 6 6.9 +5.4
VWO Vanguard FTSE Emerging Markets ETF 1.3 8 67 6.9 +5.4
CGXU Capital Group International Focus Equity ETF 1.3 54 21 4.9 +3.3
EMGF iShares Emerging Markets Equity Factor ETF 1.2 25 50 8.5 +7.0
IEMG iShares Core MSCI Emerging Markets ETF 1.2 9 66 7.5 +5.9
LDEM iShares ESG MSCI EM Leaders ETF 1.2 17 58 7.6 +6.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.2 45 30 11.0 +9.5
DFAE Dimensional Emerging Core Equity Market ETF 1.2 35 40 7.3 +5.8
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.1 35 40 12.4 +10.9
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.0 88 -13 7.4 +5.9
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.0 75 0 8.2 +6.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.0 20 55 6.8 +5.3
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.9 45 30 12.3 +10.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.9 59 16 11.3 +9.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.9 50 25 13.0 +11.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.8 38 37 7.8 +6.3
BIGFX Baron International Growth Retail 0.8 75 0 3.1 +1.6
AVEM Avantis Emerging Markets Equity ETF 0.8 33 42 8.9 +7.4
VIGI Vanguard International Dividend Appreciation ETF 0.7 15 60 6.4 +4.9
ECON Columbia Emerging Markets Consumer ETF 0.6 49 26 7.3 +5.8
ROAM Hartford Multifactor Emerging Markets ETF 0.6 44 31 15.8 +14.3
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 45 6.9 +5.4
MEM Matthews Emerging Markets Equity Active ETF 0.6 79 -4 5.4 +3.9
SDG iShares MSCI Global Sustainable Development Goals ETF 0.5 49 26 5.6 +4.1
VSGX Vanguard ESG International Stock ETF 0.4 12 63 6.8 +5.3
AVES Avantis Emerging Markets Value ETF 0.4 36 39 11.6 +10.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 34 7.4 +5.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.4 18 57 7.0 +5.5
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 55 6.3 +4.8
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 41 7.0 +5.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 8 67 7.3 +5.7
IXUS iShares Core MSCI Total International Stock ETF 0.4 7 68 7.2 +5.7
VXUS Vanguard Total International Stock ETF 0.4 7 68 7.2 +5.7
PXH Invesco FTSE RAFI Emerging Markets ETF 0.3 49 26 12.2 +10.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.3 39 36 12.5 +11.0
DFEV Dimensional Emerging Markets Value ETF 0.3 43 32 11.1 +9.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 45 8.0 +6.5
KLMT Invesco MSCI Global Climate 500 ETF 0.2 10 65 5.4 +3.9
ACWI iShares MSCI ACWI ETF 0.1 32 43 5.3 +3.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 55 5.2 +3.6
VT Vanguard Total World Stock ETF 0.1 7 68 5.5 +4.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.1 42 33 8.1 +6.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 63 4.8 +3.3
VYMI Vanguard International High Dividend Yield ETF 0.1 22 53 9.8 +8.3

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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 ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 22.2 %
Divided by: Fwd. P/BV 9.9 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 1.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 CATEGORY
AVERAGE		 1.48
 
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.