India Internet & Ecommerce ETF
ALTAR
Score™		 2.6% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 41.2x P/Sales
ratio		 4.1x
P/BV
ratio		 5.2x Div.
yield		 0.6%


  • 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) $50
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 29
Wgt avg mkt cap (mns) $37,483
Large cap (>$10bn) 50.9%
Mid cap ($2-10bn) 20.0%
Small cap (<$2bn) 29.0%
Developed mkts 3.2%
Emerging mkts 96.8%

TOP TEN HOLDINGS
RELIANCE INDS-SPONS GDR 144A 11.9 %
ZOMATO LTD. 7.4 %
BAJAJ FINANCE LIMITED 6.9 %
INFO EDGE INDIA LTD. 6.6 %
JIO FINANCIAL SERVICES LTD 6.1 %
ONE97 COMMUNICATIONS LTD 5.9 %
FRESHWORKS INC ORDINARY SHARES CLA 5.2 %
MAKEMYTRIP LTD 5.0 %
INDIAN ENERGY EXCHANGE LTD. 5.0 %
JUBILANT FOODWORKS LTD 4.8 %
Total 64.8 %

TOP COUNTRY EXPOSURE
INDIA 74.8 %
SWEDEN 1.7 %









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.
13.1% 28.2% -- -- 2.0%

Market Correlations
versus... Beta R-squared
S&P500 0.72 41%
MSCI EAFE 0.49 21%
MSCI Emg. Mkts. 0.47 20%

Technical Indicators
Recent close $15.82
30d moving avg. $16.25
Annualized volatility 19.1%
Short interest (ETF) 1.5%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.5%
Bid/Ask (% of price) 0.59%
ADV underlying (mns) $210

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 129 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™: 2.6%


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 36.6 86 0 1.2 -1.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 20.5 86 0 1.6 -0.9
DGIN VanEck Digital India ETF 16.3 71 15 0.1 -2.4
FLIN Franklin FTSE India ETF 13.4 19 67 4.7 +2.1
EPI WisdomTree India Earnings Fund 11.9 85 1 6.1 +3.5
MINV Matthews Asia Innovators Active ETF 11.4 79 7 3.0 +0.4
OND ProShares On-Demand ETF 5.9 58 28 -2.2 -4.7
CGXU Capital Group International Focus Equity ETF 5.8 54 32 4.9 +2.3
MEM Matthews Emerging Markets Equity Active ETF 5.3 79 7 5.4 +2.8
NDIA Global X India Active ETF 5.3 75 11 7.2 +4.7
ECON Columbia Emerging Markets Consumer ETF 5.1 49 37 7.3 +4.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 4.7 20 66 6.8 +4.2
INDF Nifty India Financials ETF 4.4 75 11 5.3 +2.7
XC WisdomTree Emerging Markets Ex-China Fund 4.4 32 54 6.0 +3.4
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 4.1 60 26 0.5 -2.1
XCEM Columbia EM Core ex-China ETF 4.0 16 70 7.7 +5.1
AWAY ETFMG Travel Tech ETF 3.7 76 10 -5.2 -7.8
EMM Global X Emerging Markets ex-China ETF 3.7 75 11 4.2 +1.7
INDA iShares MSCI India ETF 3.5 65 21 4.4 +1.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 3.5 15 71 7.2 +4.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 3.4 32 54 6.9 +4.3
FLAX Franklin FTSE Asia Ex Japan ETF 3.3 19 67 6.9 +4.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 3.0 36 50 7.8 +5.3
BKEM BNY Mellon Emerging Markets Equity ETF 3.0 11 75 8.4 +5.8
EEMO Invesco S&P Emerging Markets Momentum ETF 3.0 29 57 5.5 +3.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.8 66 20 10.0 +7.4
JHEM John Hancock Multifactor Emerging Markets ETF 2.6 49 37 8.2 +5.6
BGAIX Baron Global Advantage 2.6 75 11 0.6 -2.0
BUYZ Franklin Disruptive Commerce ETF 2.4 50 36 1.8 -0.7
PEJ Invesco Leisure and Entertainment ETF 2.4 58 28 1.0 -1.6
EMC Global X Emerging Markets Great Consumer ETF 2.2 75 11 4.5 +2.0
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 2.2 18 68 6.8 +4.3
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 2.2 88 -2 7.4 +4.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.1 59 27 11.3 +8.7
NFTY First Trust India NIFTY 50 Equal Weight ETF 2.1 80 6 6.3 +3.7
AFK VanEck Africa Index ETF 2.0 98 -12 9.1 +6.5
FFTY Innovator IBD 50 ETF 2.0 80 6 -0.6 -3.2
NUEM Nuveen ESG Emerging Markets Equity ETF 1.9 36 50 6.5 +3.9
PIN Invesco India ETF 1.9 78 8 4.5 +1.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.9 33 53 8.2 +5.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.9 45 41 11.0 +8.4
INDY iShares India 50 ETF 1.8 89 -3 4.6 +2.0
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.7 75 11 2.9 +0.3
SMIN iShares MSCI India Small Cap ETF 1.7 79 7 3.5 +0.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.6 50 36 13.0 +10.4
EMXF iShares ESG Advanced MSCI EM ETF 1.6 16 70 6.8 +4.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 1.5 24 62 9.2 +6.6
BKF iShares MSCI BIC ETF 1.4 69 17 6.9 +4.4
CGGO Capital Group Global Growth Equity ETF 1.4 47 39 4.6 +2.0
XCNY SPDR S&P Emerging Markets ex-China ETF 1.3 15 71 6.3 +3.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.3 44 42 10.6 +8.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 1.3 40 46 8.3 +5.7
ESGE iShares ESG Aware MSCI EM ETF 1.2 25 61 7.1 +4.6
GLIN VanEck India Growth Leaders ETF 1.1 77 9 5.7 +3.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.1 95 -9 10.5 +7.9
EMXC iShares MSCI Emerging Markets ex China ETF 1.0 25 61 6.7 +4.1
STXE Strive Emerging Markets Ex-China ETF 1.0 32 54 7.0 +4.4
GMF SPDR S&P Emerging Asia Pacific ETF 1.0 49 37 6.1 +3.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.9 18 68 7.0 +4.5
EEMA iShares MSCI Emerging Markets Asia ETF 0.9 49 37 6.5 +4.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.8 70 16 6.2 +3.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.8 41 45 7.4 +4.9
JETS U.S. Global Jets ETF 0.8 60 26 -13.3 -15.8
SPEM SPDR Portfolio Emerging Markets ETF 0.8 7 79 7.3 +4.8
VWO Vanguard FTSE Emerging Markets ETF 0.8 8 78 6.9 +4.4
EEM iShares MSCI Emerging Markets ETF 0.7 69 17 6.9 +4.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.7 30 56 7.3 +4.7
IEMG iShares Core MSCI Emerging Markets ETF 0.7 9 77 7.5 +4.9
IBUY Amplify Online Retail ETF 0.7 65 21 1.4 -1.2
LDEM iShares ESG MSCI EM Leaders ETF 0.7 17 69 7.6 +5.1
EMDM First Trust Bloomberg Emerging Market Democracies ETF 0.6 75 11 8.2 +5.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.5 32 54 6.2 +3.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.5 70 16 7.7 +5.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.5 41 45 7.4 +4.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.4 15 71 10.2 +7.7
BOUT Innovator IBD Breakout Opportunities ETF 0.4 81 5 3.6 +1.1
AVES Avantis Emerging Markets Value ETF 0.4 36 50 11.6 +9.0
SCHE Schwab Emerging Markets Equity ETF 0.4 11 75 7.1 +4.6
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 51 7.3 +4.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.4 29 57 8.7 +6.2
EMGF iShares Emerging Markets Equity Factor ETF 0.3 25 61 8.5 +5.9
AVEM Avantis Emerging Markets Equity ETF 0.3 33 53 8.9 +6.3
VSGX Vanguard ESG International Stock ETF 0.3 12 74 6.8 +4.2
FDEM Fidelity Emerging Markets Multifactor ETF 0.3 25 61 12.3 +9.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.2 38 48 7.8 +5.3
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 56 6.9 +4.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 7 79 6.7 +4.1
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 79 7.2 +4.6
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 52 7.0 +4.4
VXUS Vanguard Total International Stock ETF 0.2 7 79 7.2 +4.6
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 21 8.2 +5.6
PID Invesco International Dividend Achievers ETF 0.2 53 33 7.0 +4.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 78 7.3 +4.7
PNQI Invesco NASDAQ Internet ETF 0.2 60 26 2.3 -0.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 28 10.2 +7.6
SMLF iShares U.S. SmallCap Equity Factor ETF 0.2 15 71 4.6 +2.1
DFEV Dimensional Emerging Markets Value ETF 0.1 43 43 11.1 +8.5
IPKW Invesco International BuyBack Achievers ETF 0.1 55 31 11.0 +8.5
PXH Invesco FTSE RAFI Emerging Markets ETF 0.1 49 37 12.2 +9.7
VT Vanguard Total World Stock ETF 0.1 7 79 5.5 +3.0
AVDV Avantis International Small Cap Value ETF 0.1 36 50 8.1 +5.6
IEUS iShares MSCI Europe Small-Cap ETF 0.1 42 44 6.4 +3.9
ACWI iShares MSCI ACWI ETF 0.1 32 54 5.3 +2.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 56 8.0 +5.4
DFIS Dimensional International Small Cap ETF 0.1 39 47 6.9 +4.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 74 4.8 +2.2
ISCF iShares International SmallCap Equity Factor ETF 0.1 23 63 9.1 +6.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 66 5.2 +2.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 77 5.4 +2.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 47 4.1 +1.5
SCZ iShares MSCI EAFE Small-Cap ETF 0.0 40 46 6.6 +4.0
SCHC Schwab International Small-Cap Equity ETF 0.0 11 75 6.6 +4.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.0 30 56 8.1 +5.6
GWX SPDR S&P International Small Cap ETF 0.0 40 46 6.5 +3.9
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 65 3.8 +1.2
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 62 6.5 +3.9
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 77 4.8 +2.2
AVDE Avantis International Equity ETF 0.0 23 63 8.1 +5.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 47 7.4 +4.9
DFIC Dimensional International Core Equity 2 ETF 0.0 23 63 7.7 +5.2
IEUR iShares Core MSCI Europe ETF 0.0 11 75 7.1 +4.5
SPEU SPDR Portfolio Europe ETF 0.0 7 79 7.1 +4.5
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 83 7.2 +4.6
VGK Vanguard FTSE Europe ETF 0.0 11 75 7.1 +4.5
DFAI Dimensional International Core Equity Market ETF 0.0 18 68 7.3 +4.7
IEFA iShares Core MSCI EAFE ETF 0.0 7 79 7.1 +4.6
VEA Vanguard FTSE Developed Markets ETF 0.0 5 81 7.3 +4.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 44 8.1 +5.5
AVSD Avantis Responsible International Equity ETF 0.0 23 63 7.1 +4.5

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:

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 15.9 %
Divided by: Fwd. P/BV 4.7 x
Less: Expense ratio 86 bp
Equals: ALTAR Score 2.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 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.