India Internet & Ecommerce ETF
ALTAR
Score™		 11.0% info Recommen-
dation		 OVERWEIGHT
2024E    2025E
P/E
ratio		 7.3x P/Sales
ratio		 1.1x
P/BV
ratio		 2.6x Div.
yield		 0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
INQQ tracks an index of companies centered around the internet and e-commerce technology in India. Securities are selected and weighted by market-cap.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Exchange Traded Concepts
Website inqqetf.com/material/
Inception date Apr 06, 2022
Assets (mns) $35
Currency USD
Expense ratio 86 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 28
Wgt avg mkt cap (mns) $27,807
Large cap (>$10bn) 29.5%
Mid cap ($2-10bn) 45.7%
Small cap (<$2bn) 24.8%
Developed mkts 2.2%
Emerging mkts 97.8%

TOP TEN HOLDINGS
RELIANCE INDUSTRIES LTD 9.1 %
ZOMATO LTD. 8.3 %
BAJAJ FINANCE LIMITED 6.3 %
INFO EDGE INDIA LTD. 6.3 %
MAKEMYTRIP LTD 6.0 %
PB FINTECH LIMITED 4.6 %
ANGEL ONE LIMITED 4.4 %
INDIAN ENERGY EXCHANGE LTD. 4.1 %
JUBILANT FOODWORKS LTD 3.7 %
FSN E-COMMERCE VENTURES LTD. 3.7 %
Total 56.4 %

TOP COUNTRY EXPOSURE
INDIA 78.8 %
SWEDEN 1.7 %









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.
3.1% 45.0% -- -- -2.3%

Market Correlations
versus... Beta R-squared
S&P500 0.78 50%
MSCI EAFE 0.60 31%
MSCI Emg. Mkts. 0.46 20%

Technical Indicators
Recent close $14.30
30d moving avg. $12.95
Annualized volatility 20.8%
Short interest (ETF) 0.5%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 27
Turnover 1.1%
Bid/Ask (% of price) 0.59%
ADV underlying (mns) $230

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 127 potential alternatives to the India Internet & Ecommerce ETF ETF based on the alternatives' overlap in portfolio holdings with INQQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: INQQ Expense: 86 bp ALTAR Score™: 11.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH INQQ
Ticker Fund
Name		 Overlap1
vs INQQ
(%)		 Expense
ratio
(bp)		 Savings
vs INQQ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs INQQ
(%)
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 28.9 86 0 2.0 -9.0
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 15.4 86 0 2.1 -8.9
DGIN VanEck Digital India ETF 14.0 71 15 1.6 -9.4
INDA iShares MSCI India ETF 11.7 65 21 3.7 -7.3
FLIN Franklin FTSE India ETF 11.3 19 67 5.3 -5.7
INDY iShares India 50 ETF 11.2 89 -3 3.8 -7.2
PIN Invesco India ETF 10.5 78 8 3.9 -7.1
EPI WisdomTree India Earnings Fund 8.8 85 1 6.8 -4.2
MINV Matthews Asia Innovators Active ETF 8.1 79 7 2.9 -8.1
INCO Columbia India Consumer ETF 7.0 75 11 1.7 -9.3
OND ProShares On-Demand ETF 5.8 58 28 -2.5 -13.5
INDF Nifty India Financials ETF 5.0 75 11 6.1 -4.9
AWAY ETFMG Travel Tech ETF 4.7 76 10 -4.2 -15.2
LDEM iShares ESG MSCI EM Leaders ETF 4.3 17 69 7.9 -3.1
NFTY First Trust India NIFTY 50 Equal Weight ETF 4.0 80 6 6.3 -4.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 3.9 20 66 7.7 -3.3
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 3.9 60 26 1.0 -10.0
DFEV Dimensional Emerging Markets Value ETF 3.8 43 43 11.1 +0.1
XC WisdomTree Emerging Markets Ex-China Fund 3.6 32 54 6.2 -4.8
NDIA Global X India Active ETF 3.6 75 11 6.6 -4.4
CGXU Capital Group International Focus Equity ETF 3.4 54 32 4.2 -6.8
PEJ Invesco Leisure and Entertainment ETF 3.4 58 28 0.5 -10.5
RNEM First Trust Emerging Markets Equity Select ETF 3.2 75 11 8.4 -2.6
FFTY Innovator IBD 50 ETF 3.1 80 6 0.1 -10.9
SMIN iShares MSCI India Small Cap ETF 3.1 79 7 4.5 -6.5
IWFH iShares Virtual Work and Life Multisector ETF 3.1 47 39 -3.6 -14.5
STXE Strive Emerging Markets Ex-China ETF 3.1 32 54 7.0 -4.0
VIGI Vanguard International Dividend Appreciation ETF 3.0 15 71 5.6 -5.4
FILL iShares MSCI Global Energy Producers ETF 2.9 39 47 9.3 -1.7
BKF iShares MSCI BIC ETF 2.8 69 17 7.4 -3.6
ESGE iShares ESG Aware MSCI EM ETF 2.7 25 61 7.8 -3.2
CBSE Clough Select Equity ETF 2.7 85 1 -2.3 -13.3
EMXC iShares MSCI Emerging Markets ex China ETF 2.7 25 61 6.7 -4.3
EEMA iShares MSCI Emerging Markets Asia ETF 2.6 49 37 6.8 -4.2
FLAX Franklin FTSE Asia Ex Japan ETF 2.6 19 67 7.3 -3.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 2.4 70 16 6.5 -4.5
VWO Vanguard FTSE Emerging Markets ETF 2.2 8 78 7.7 -3.3
BKEM BNY Mellon Emerging Markets Equity ETF 2.2 11 75 7.8 -3.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 2.2 36 50 7.6 -3.4
SCHE Schwab Emerging Markets Equity ETF 2.1 11 75 7.7 -3.3
EMDM First Trust Bloomberg Emerging Market Democracies ETF 2.0 75 11 9.8 -1.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.0 66 20 7.4 -3.6
JHEM John Hancock Multifactor Emerging Markets ETF 2.0 49 37 8.5 -2.5
EEMO Invesco S&P Emerging Markets Momentum ETF 2.0 29 57 6.3 -4.7
EMM Global X Emerging Markets ex-China ETF 1.8 75 11 3.7 -7.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.7 95 -9 11.6 +0.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.7 32 54 7.7 -3.3
IEMG iShares Core MSCI Emerging Markets ETF 1.7 9 77 7.7 -3.3
EEM iShares MSCI Emerging Markets ETF 1.7 69 17 7.1 -3.9
NUEM Nuveen ESG Emerging Markets Equity ETF 1.5 36 50 6.9 -4.1
MEM Matthews Emerging Markets Equity Active ETF 1.5 79 7 5.9 -5.1
AFK VanEck Africa Index ETF 1.5 98 -12 10.0 -1.0
IBUY Amplify Online Retail ETF 1.4 65 21 1.8 -9.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 1.4 39 47 12.8 +1.8
EMGF iShares Emerging Markets Equity Factor ETF 1.3 25 61 8.8 -2.2
BUYZ Franklin Disruptive Commerce ETF 1.3 50 36 2.1 -8.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.3 59 27 9.7 -1.3
PXH Invesco FTSE RAFI Emerging Markets ETF 1.3 49 37 12.7 +1.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.3 45 41 8.7 -2.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.3 33 53 7.3 -3.7
EMXF iShares ESG Advanced MSCI EM ETF 1.2 16 70 7.6 -3.4
EMC Global X Emerging Markets Great Consumer ETF 1.2 75 11 5.0 -6.0
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.2 75 11 3.2 -7.8
GLIN VanEck India Growth Leaders ETF 1.1 77 9 5.4 -5.6
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 1.1 18 68 8.0 -3.0
CGGO Capital Group Global Growth Equity ETF 1.0 47 39 4.3 -6.7
DFAE Dimensional Emerging Core Equity Market ETF 1.0 35 51 7.8 -3.2
IRBO iShares Robotics and Artificial Intelligence Multisector ETF 1.0 47 39 0.7 -10.3
GMF SPDR S&P Emerging Asia Pacific ETF 0.9 49 37 6.5 -4.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.9 70 16 7.3 -3.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.9 44 42 10.4 -0.6
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.8 88 -2 6.3 -4.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.7 40 46 7.2 -3.8
SPEM SPDR Portfolio Emerging Markets ETF 0.7 7 79 7.6 -3.4
JETS U.S. Global Jets ETF 0.6 60 26 -15.6 -26.6
DGT SPDR Global Dow ETF 0.6 50 36 6.8 -4.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.6 15 71 7.2 -3.8
VXUS Vanguard Total International Stock ETF 0.6 7 79 7.2 -3.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.6 38 48 8.4 -2.6
ACWX iShares MSCI ACWI ex U.S. ETF 0.6 34 52 6.8 -4.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.6 41 45 6.8 -4.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.5 41 45 7.9 -3.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.5 32 54 6.4 -4.6
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 79 7.0 -4.0
EWX SPDR S&P Emerging Markets Small Cap ETF 0.5 65 21 7.7 -3.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.5 30 56 7.6 -3.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.5 24 62 7.2 -3.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 8 78 7.3 -3.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.4 58 28 10.2 -0.8
IGRO iShares International Dividend Growth ETF 0.4 15 71 7.2 -3.8
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.4 25 61 7.1 -3.9
AVEM Avantis Emerging Markets Equity ETF 0.4 33 53 9.3 -1.7
FDEM Fidelity Emerging Markets Multifactor ETF 0.4 25 61 12.1 +1.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.3 7 79 6.6 -4.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 56 7.9 -3.1
VSGX Vanguard ESG International Stock ETF 0.2 12 74 6.9 -4.1
ACWI iShares MSCI ACWI ETF 0.2 32 54 5.5 -5.5
XCEM Columbia EM Core ex-China ETF 0.2 16 70 7.4 -3.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.2 50 36 10.7 -0.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.2 30 56 8.7 -2.3
PNQI Invesco NASDAQ Internet ETF 0.2 60 26 2.6 -8.4
VT Vanguard Total World Stock ETF 0.2 7 79 5.9 -5.1
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 56 6.9 -4.1
AVES Avantis Emerging Markets Value ETF 0.2 36 50 12.3 +1.3
SMLF iShares U.S. SmallCap Equity Factor ETF 0.1 15 71 5.9 -5.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 77 5.8 -5.2
AVDV Avantis International Small Cap Value ETF 0.1 36 50 8.0 -3.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 74 5.1 -5.9
IEUS iShares MSCI Europe Small-Cap ETF 0.0 42 44 0.0 -11.0
DFIS Dimensional International Small Cap ETF 0.0 39 47 6.7 -4.3
ISCF iShares International SmallCap Equity Factor ETF 0.0 23 63 8.8 -2.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 66 5.7 -5.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 47 4.7 -6.3
SCZ iShares MSCI EAFE Small-Cap ETF 0.0 40 46 0.0 -11.0
SCHC Schwab International Small-Cap Equity ETF 0.0 11 75 6.5 -4.5
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 65 3.9 -7.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 44 6.9 -4.1
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 62 6.3 -4.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 47 7.4 -3.6
DFIC Dimensional International Core Equity 2 ETF 0.0 23 63 7.5 -3.5
SPEU SPDR Portfolio Europe ETF 0.0 7 79 6.7 -4.3
AVDE Avantis International Equity ETF 0.0 23 63 8.0 -3.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 83 7.0 -4.0
VGK Vanguard FTSE Europe ETF 0.0 11 75 7.0 -4.0
IEFA iShares Core MSCI EAFE ETF 0.0 7 79 2.7 -8.3
DFAI Dimensional International Core Equity Market ETF 0.0 18 68 7.0 -4.0
VEA Vanguard FTSE Developed Markets ETF 0.0 5 81 7.1 -3.9

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

  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

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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:		 India Internet & Ecommerce 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 27.7 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 86 bp
Equals: ALTAR Score 11.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.42 CATEGORY
AVERAGE		 1.39
 
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.