ProShares S&P Global Core Battery Metals ETF
ALTAR
Score™		 11.2% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 25.4x P/Sales
ratio		 1.2x
P/BV
ratio		 1.2x Div.
yield		 1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ION tracks an index of companies from around the world that are engaged in the mining of base metals used to produce batteries.

FUND BASICS
Category Global Equities
Fund Sponsor ProShares
Website www.proshares.com/our-etfs/strategic/ion
Inception date Nov 29, 2022
Assets (mns) $3
Currency USD
Expense ratio 58 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 49
Wgt avg mkt cap (mns) $8,458
Large cap (>$10bn) 16.8%
Mid cap ($2-10bn) 51.6%
Small cap (<$2bn) 31.6%
Developed mkts 41.8%
Emerging mkts 55.7%

TOP TEN HOLDINGS
ZANGGE MINING COMPANY LIMITED CLAS 4.5 %
PACIFIC METALS CO LTD 4.4 %
TIBET MINERAL DEVELOPMENT CO. LTD. 4.1 %
QUIMICA Y MINERA CHIL-SP ADR 3.7 %
SINOMINE RESOURCE GROUP CO., LTD. 3.6 %
AMG ADVANCED METALLURGICAL 3.5 %
JINCHUAN GROUP INTERNATIONAL RESOU 3.4 %
INTERNATIONAL NICKEL INDONES 3.3 %
GANFENG LITHIUM CO., LTD. CLASS H 3.2 %
QINGHAI SALT LAKE POTASH -A 3.2 %
Total 36.9 %

TOP COUNTRY EXPOSURE
CHINA 31.6 %
AUSTRALIA 12.3 %
SOUTH AFRICA 9.4 %
INDONESIA 8.5 %
JAPAN 5.7 %
CANADA 5.1 %
NETHERLANDS 3.5 %
HONG KONG 3.5 %
FRANCE 3.1 %
UNITED STATES 2.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.4% -12.7% -- -- -19.0%

Market Correlations
versus... Beta R-squared
S&P500 0.82 16%
MSCI EAFE 1.03 34%
MSCI Emg. Mkts. 1.43 53%

Technical Indicators
Recent close $25.41
30d moving avg. $26.52
Annualized volatility 24.6%
Short interest (ETF) 3.1%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.60%
ADV underlying (mns) $2,048

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 445 potential alternatives to the ProShares S&P Global Core Battery Metals ETF ETF based on the alternatives' overlap in portfolio holdings with ION. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ION Expense: 58 bp ALTAR Score™: 11.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ION
Ticker Fund
Name		 Overlap1
vs ION
(%)		 Expense
ratio
(bp)		 Savings
vs ION
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ION
(%)
DMAT Global X Disruptive Materials ETF 25.7 59 -1 9.2 -2.1
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 23.1 85 -27 8.0 -3.2
LIMI Themes Lithium & Battery Metal Miners ETF 22.2 35 23 0.0 -11.2
GMET VanEck Green Metals ETF 18.7 63 -5 10.8 -0.4
SETM Sprott Energy Transition Materials ETF 17.4 65 -7 4.7 -6.5
LITP Sprott Lithium Miners ETF 16.5 65 -7 4.8 -6.4
LIT Global X Lithium & Battery Tech ETF 16.0 75 -17 5.9 -5.3
REMX VanEck Rare Earth/Strategic Metals ETF 15.7 54 4 5.6 -5.6
BATT Amplify Lithium & Battery Technology ETF 15.6 59 -1 3.8 -7.4
COPA Themes Copper Miners ETF 12.7 35 23 9.0 -2.2
NIKL Sprott Nickel Miners ETF 12.3 75 -17 15.7 +4.5
COPX Global X Copper Miners ETF 11.4 65 -7 8.9 -2.3
PICK iShares MSCI Global Metals & Mining Producers ETF 11.0 39 19 14.1 +2.9
ILIT iShares Lithium Miners and Producers ETF 10.6 47 11 7.0 -4.2
ICOP iShares Copper and Metals Mining ETF 10.5 47 11 10.0 -1.3
EV Mast Global Battery Recycling & Production ETF 10.4 65 -7 11.6 +0.4
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 10.0 72 -14 -1.2 -12.4
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 6.5 46 12 10.4 -0.8
MXI iShares Global Materials ETF 5.7 41 17 8.0 -3.2
IDRV iShares Self-driving EV & Tech ETF 5.6 47 11 2.5 -8.7
GNR SPDR S&P Global Natural Resources ETF 5.5 40 18 11.4 +0.2
WBAT WisdomTree Battery Value Chain and Innovation Fund 5.3 45 13 0.0 -11.2
CCNR ALPS CoreCommodity Natural Resources ETF 5.1 39 19 11.0 -0.2
AFK VanEck Africa Index ETF 4.8 98 -40 12.6 +1.4
CGXU Capital Group International Focus Equity ETF 4.5 54 4 5.9 -5.4
HAP VanEck Natural Resources ETF 4.3 50 8 10.0 -1.2
DRIV Global X Autonomous & Electric Vehicles ETF 4.1 68 -10 6.8 -4.4
FIVA Fidelity International Value Factor ETF 4.0 18 40 10.5 -0.7
COPJ Sprott Junior Copper Miners ETF 3.4 75 -17 4.1 -7.1
OBOR KraneShares MSCI One Belt One Road Index ETF 3.3 79 -21 7.7 -3.5
FLAU Franklin FTSE Australia ETF 3.2 9 49 6.4 -4.9
DIVI Franklin International Core Dividend Tilt Index ETF 3.1 9 49 8.2 -3.0
SILJ ETFMG Prime Junior Silver Miners ETF 3.0 69 -11 2.7 -8.5
EZA iShares MSCI South Africa ETF 3.0 58 0 10.9 -0.3
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 2.9 60 -2 4.2 -7.0
ACES ALPS Clean Energy ETF 2.9 55 3 -4.2 -15.4
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 2.9 58 0 -3.5 -14.7
RSPM Invesco S&P 500 Equal Weight Materials ETF 2.9 40 18 7.8 -3.4
EWA iShares MSCI Australia ETF 2.8 50 8 6.1 -5.1
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 2.8 19 39 6.3 -4.9
ZSB USCF Sustainable Battery Metals Strategy Fund 2.7 61 -3 17.4 +6.2
IPAC iShares Core MSCI Pacific ETF 2.6 9 49 7.1 -4.1
EWU iShares MSCI United Kingdom ETF 2.6 50 8 8.6 -2.7
FNDF Schwab Fundamental International Large Co. Index ETF 2.6 25 33 10.1 -1.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.5 65 -7 12.2 +1.0
EFV iShares MSCI EAFE Value ETF 2.5 34 24 9.4 -1.8
URA Global X Uranium ETF 2.5 69 -11 3.5 -7.8
VPL Vanguard FTSE Pacific ETF 2.5 8 50 7.7 -3.6
FLGB Franklin FTSE United Kingdom ETF 2.5 9 49 8.0 -3.2
EPP iShares MSCI Pacific ex-Japan ETF 2.4 47 11 5.7 -5.5
VYMI Vanguard International High Dividend Yield ETF 2.4 22 36 10.0 -1.2
IVLU iShares MSCI Intl Value Factor ETF 2.4 30 28 11.1 -0.1
KNO AXS Knowledge Leaders ETF 2.4 78 -20 6.1 -5.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.3 60 -2 11.0 -0.2
TTAI FCF International Quality ETF 2.3 59 -1 6.9 -4.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 2.3 58 0 7.1 -4.2
IQDG WisdomTree International Quality Dividend Growth Fund 2.2 42 16 7.2 -4.0
PPIE Putnam PanAgora ESG International Equity ETF 2.2 49 9 7.8 -3.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.2 45 13 9.3 -1.9
INFL Horizon Kinetics Inflation Beneficiaries ETF 2.2 85 -27 3.9 -7.3
DOL WisdomTree International LargeCap Dividend Fund 2.1 48 10 7.5 -3.7
DFIV Dimensional International Value ETF 2.1 27 31 10.4 -0.8
CGV Conductor Global Equity Value ETF 2.0 130 -72 9.2 -2.1
DVYA iShares Asia/Pacific Dividend ETF 2.0 49 9 8.9 -2.3
VWID Virtus WMC International Dividend ETF 2.0 49 9 8.8 -2.4
FTHF First Trust Emerging Markets Human Flourishing ETF 1.9 75 -17 9.8 -1.4
LVHI Franklin International Low Volatility High Dividend Index ET 1.9 40 18 11.0 -0.2
CARZ First Trust NASDAQ Global Auto Index Fund 1.9 70 -12 6.0 -5.2
CEFA Global X S&P Catholic Values Developed ex-US ETF 1.9 35 23 5.9 -5.4
STXI Strive International Developed Markets ETF 1.9 29 29 5.9 -5.3
FICS First Trust International Developed Capital Strength ETF 1.9 70 -12 5.7 -5.5
IDHQ Invesco S&P International Developed High Quality ETF 1.9 29 29 6.7 -4.6
SCHY Schwab International Dividend Equity ETF 1.9 14 44 9.8 -1.4
HFXI IQ FTSE International Equity Currency Neutral ETF 1.9 20 38 7.4 -3.8
BKIE BNY Mellon International Equity ETF 1.8 4 54 7.3 -3.9
IQLT iShares MSCI Intl Quality Factor ETF 1.8 30 28 6.3 -4.9
GSID Goldman Sachs MarketBeta International Equity ETF 1.8 20 38 7.1 -4.1
EFA iShares MSCI EAFE ETF 1.8 35 23 7.0 -4.2
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.8 30 28 7.3 -3.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.8 36 22 6.9 -4.3
BBCA JPMorgan BetaBuilders Canada ETF 1.7 19 39 6.9 -4.4
JPIN J.P. Morgan Diversified Return International Equity ETF 1.7 37 21 8.9 -2.3
UMMA Wahed Dow Jones Islamic World ETF 1.7 65 -7 5.3 -6.0
RFDI First Trust Riverfront Dynamic Developed International ETF 1.7 83 -25 10.0 -1.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.7 20 38 6.7 -4.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.7 45 13 11.1 -0.2
WWJD Inspire International ETF 1.6 80 -22 7.6 -3.7
IEFA iShares Core MSCI EAFE ETF 1.6 7 51 7.4 -3.9
PBW Invesco WilderHill Clean Energy ETF 1.6 66 -8 -6.0 -17.2
PYZ Invesco Dorsey Wright Basic Materials Momentum ETF 1.6 60 -2 6.4 -4.8
DWM WisdomTree International Equity Fund 1.6 48 10 7.7 -3.5
SCHF Schwab International Equity ETF 1.6 6 52 7.7 -3.5
JHMD John Hancock Multifactor Developed International ETF 1.6 39 19 7.8 -3.4
FDRV Fidelity Electric Vehicles and Future Transportation ETF 1.5 39 19 -1.1 -12.3
DTH WisdomTree International High Dividend Fund 1.5 58 0 9.1 -2.2
IDEV iShares Core MSCI International Developed Markets ETF 1.5 4 54 7.4 -3.9
VEA Vanguard FTSE Developed Markets ETF 1.5 5 53 7.6 -3.7
DFAI Dimensional International Core Equity Market ETF 1.5 18 40 7.6 -3.7
FTRI First Trust Indxx Global Natural Resources Income ETF 1.5 70 -12 8.6 -2.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 1.5 25 33 7.5 -3.7
EWD iShares MSCI Sweden ETF 1.5 54 4 5.6 -5.7
GVAL Cambria Global Value ETF 1.5 68 -10 11.3 +0.1
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 1.5 65 -7 7.9 -3.4
KALL KraneShares MSCI All China Index ETF 1.5 49 9 15.3 +4.1
IYM iShares U.S. Basic Materials ETF 1.5 40 18 6.7 -4.5
GDX VanEck Gold Miners ETF 1.5 51 7 4.5 -6.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 1.5 40 18 7.5 -3.7
FENI Fidelity Enhanced International ETF 1.5 28 30 7.0 -4.2
DIHP Dimensional International High Profitability ETF 1.4 29 29 7.4 -3.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.4 42 16 6.8 -4.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.4 18 40 8.1 -3.1
COPY Tweedy, Browne Insider + Value ETF 1.4 80 -22 12.6 +1.4
SPDW SPDR Portfolio Developed World ex-US ETF 1.4 3 55 7.5 -3.7
IVAL Alpha Architect International Quantitative Value ETF 1.4 49 9 10.6 -0.6
IDV iShares International Select Dividend ETF 1.4 51 7 11.6 +0.4
CWI SPDR MSCI ACWI ex-US ETF 1.4 30 28 8.2 -3.0
IQDF FlexShares International Quality Dividend Index Fund 1.4 47 11 9.5 -1.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.4 41 17 7.1 -4.1
INTF iShares International Equity Factor ETF 1.3 15 43 8.1 -3.1
ACWX iShares MSCI ACWI ex U.S. ETF 1.3 34 24 8.1 -3.1
SPHB Invesco S&P 500 High Beta ETF 1.3 25 33 5.3 -5.9
VEU Vanguard FTSE All-World ex-US Index Fund 1.3 8 50 8.5 -2.7
AGMI Themes Silver Miners ETF 1.3 35 23 3.1 -8.1
DXJ WisdomTree Japan Hedged Equity Fund 1.3 48 10 8.4 -2.8
JPXN iShares JPX-Nikkei 400 ETF 1.2 48 10 7.5 -3.7
DGT SPDR Global Dow ETF 1.2 50 8 7.5 -3.7
IXUS iShares Core MSCI Total International Stock ETF 1.2 7 51 8.3 -2.9
NOBL ProShares S&P 500 Dividend Aristocrats ETF 1.2 35 23 5.7 -5.5
IDX VanEck Indonesia Index ETF 1.2 57 1 8.4 -2.8
DEHP Dimensional Emerging Markets High Profitability ETF 1.2 41 17 6.5 -4.7
NANR SPDR S&P North American Natural Resources ETF 1.1 35 23 8.4 -2.8
FPAG FPA Global Equity ETF 1.1 49 9 6.3 -4.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 19 8.3 -2.9
INEQ Columbia International Equity Income ETF 1.1 45 13 8.7 -2.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 1.1 25 33 7.4 -3.8
EWJV iShares MSCI Japan Value ETF 1.1 15 43 9.8 -1.5
FLCH Franklin FTSE China ETF 1.1 19 39 17.2 +6.0
EIDO iShares MSCI Indonesia ETF 1.1 59 -1 8.5 -2.7
VXUS Vanguard Total International Stock ETF 1.1 7 51 8.3 -2.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.1 47 11 9.0 -2.3
IDOG ALPS International Sector Dividend Dogs ETF 1.1 50 8 12.2 +1.0
CXSE WisdomTree China ex-State-Owned Enterprises Fund 1.1 32 26 17.8 +6.5
GSFP Goldman Sachs Future Planet Equity ETF 1.1 75 -17 4.8 -6.4
DFIC Dimensional International Core Equity 2 ETF 1.1 23 35 7.9 -3.3
GOEX Global X Gold Explorers ETF 1.1 65 -7 4.6 -6.6
JIRE JPMorgan International Research Enhanced Equity ETF 1.1 24 34 7.4 -3.8
TEMP JPMorgan Climate Change Solutions ETF 1.1 49 9 5.9 -5.4
BLES Inspire Global Hope ETF 1.1 61 -3 6.8 -4.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.1 39 19 7.0 -4.3
PBD Invesco Global Clean Energy ETF 1.0 75 -17 0.4 -10.8
MCHI iShares MSCI China ETF 1.0 59 -1 17.8 +6.6
AVDE Avantis International Equity ETF 1.0 23 35 8.0 -3.2
RING iShares MSCI Global Gold Miners ETF 1.0 39 19 5.8 -5.4
ABEQ Absolute Select Value ETF 1.0 85 -27 4.9 -6.3
FLCA Franklin FTSE Canada ETF 1.0 9 49 7.0 -4.2
PID Invesco International Dividend Achievers ETF 1.0 53 5 5.8 -5.5
IGE iShares North American Natural Resources ETF 1.0 41 17 7.7 -3.6
BEEX BeeHive ETF 1.0 84 -26 4.7 -6.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.0 58 0 6.5 -4.7
DVYE iShares Emerging Markets Dividend ETF 1.0 49 9 18.9 +7.7
ESGD iShares ESG Aware MSCI EAFE ETF 1.0 20 38 7.1 -4.1
CRTC Xtrackers US National Critical Technologies ETF 1.0 35 23 5.3 -5.9
BBJP JPMorgan BetaBuilders Japan ETF 1.0 19 39 7.6 -3.7
IMFL Invesco International Developed Dynamic Multifactor ETF 1.0 34 24 6.2 -5.0
IQSI IQ Candriam International Equity ETF 1.0 15 43 6.7 -4.6
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.0 24 34 6.4 -4.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.0 30 28 8.6 -2.6
FIDI Fidelity International High Dividend ETF 1.0 18 40 9.0 -2.2
JCHI JPMorgan Active China ETF 1.0 65 -7 16.8 +5.6
JHID John Hancock International High Dividend ETF 1.0 46 12 10.3 -0.9
EWJ iShares MSCI Japan ETF 1.0 50 8 7.1 -4.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.9 80 -22 10.0 -1.2
FLJH Franklin FTSE Japan Hedged ETF 0.9 9 49 6.7 -4.5
FLJP Franklin FTSE Japan ETF 0.9 9 49 7.0 -4.2
DBJP Xtrackers MSCI Japan Hedged Equity ETF 0.9 47 11 7.1 -4.1
XLB Materials Select Sector SPDR Fund 0.9 8 50 6.2 -5.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.9 50 8 11.6 +0.4
GCOW Pacer Global Cash Cows Dividend ETF 0.9 60 -2 10.9 -0.3
RODE Hartford Multifactor Diversified International ETF 0.9 29 29 9.9 -1.3
PXH Invesco FTSE RAFI Emerging Markets ETF 0.9 49 9 16.7 +5.5
FDEV Fidelity International Multifactor ETF 0.9 18 40 7.7 -3.5
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 16 5.4 -5.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.9 32 26 9.6 -1.6
ECNS iShares MSCI China Small-Cap ETF 0.8 59 -1 10.8 -0.4
CNYA iShares MSCI China A ETF 0.8 60 -2 7.2 -4.0
FXZ First Trust Materials AlphaDEX Fund 0.8 61 -3 11.0 -0.3
FLEE Franklin FTSE Europe ETF 0.8 9 49 7.0 -4.2
FJP First Trust Japan AlphaDEX Fund 0.8 80 -22 10.3 -0.9
EWC iShares MSCI Canada ETF 0.8 50 8 6.6 -4.6
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.8 12 46 6.2 -5.0
ECON Columbia Emerging Markets Consumer ETF 0.8 49 9 12.9 +1.7
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.8 38 20 9.9 -1.3
IDMO Invesco S&P International Developed Momentum ETF 0.8 25 33 5.7 -5.5
RXI iShares Global Consumer Discretionary ETF 0.8 41 17 9.2 -2.0
BBEU JPMorgan BetaBuilders Europe ETF 0.8 9 49 7.2 -4.0
SCHC Schwab International Small-Cap Equity ETF 0.8 11 47 7.1 -4.1
ESGE iShares ESG Aware MSCI EM ETF 0.8 25 33 10.7 -0.5
IEV iShares Europe ETF 0.8 67 -9 6.9 -4.3
VGK Vanguard FTSE Europe ETF 0.8 11 47 7.5 -3.7
AVIV Avantis International Large Cap Value ETF 0.8 25 33 9.3 -1.9
DFEV Dimensional Emerging Markets Value ETF 0.8 43 15 14.5 +3.2
FYLD Cambria Foreign Shareholder Yield ETF 0.8 59 -1 12.5 +1.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.8 46 12 6.8 -4.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.8 32 26 7.0 -4.2
EPOL iShares MSCI Poland ETF 0.8 59 -1 11.6 +0.3
JHEM John Hancock Multifactor Emerging Markets ETF 0.8 49 9 10.5 -0.7
FTWO Strive FAANG 2.0 ETF 0.7 49 9 5.1 -6.1
AVSD Avantis Responsible International Equity ETF 0.7 23 35 6.8 -4.4
FXI iShares China Large-Cap ETF 0.7 74 -16 18.1 +6.9
TPIF Timothy Plan International ETF 0.7 62 -4 6.5 -4.7
TCHI iShares MSCI China Multisector Tech ETF 0.7 59 -1 22.4 +11.2
LDEM iShares ESG MSCI EM Leaders ETF 0.7 17 41 12.9 +1.6
KOCG FIS Knights of Columbus Global Belief ETF 0.7 75 -17 5.4 -5.9
AVEM Avantis Emerging Markets Equity ETF 0.7 33 25 9.7 -1.6
SPEU SPDR Portfolio Europe ETF 0.7 7 51 7.5 -3.8
IEUR iShares Core MSCI Europe ETF 0.7 11 47 7.4 -3.8
XT iShares Exponential Technologies ETF 0.7 46 12 5.5 -5.7
VAW Vanguard Materials ETF 0.7 10 48 6.4 -4.8
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 0.7 60 -2 5.3 -5.9
CIL VictoryShares International Volatility Wtd ETF 0.7 45 13 7.0 -4.3
EFG iShares MSCI EAFE Growth ETF 0.7 36 22 4.5 -6.7
DEW WisdomTree Global High Dividend Fund 0.7 58 0 7.7 -3.5
FMAT Fidelity MSCI Materials Index ETF 0.7 8 50 6.5 -4.8
SNPD Xtrackers S&P ESG Dividend Aristocrats ETF 0.7 15 43 5.9 -5.3
GXC SPDR S&P China ETF 0.7 59 -1 16.7 +5.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.7 29 29 8.2 -3.0
FEP First Trust Europe AlphaDEX Fund 0.7 80 -22 9.3 -1.9
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.6 65 -7 8.6 -2.7
IVRA Invesco Real Assets ESG ETF 0.6 59 -1 3.5 -7.7
QWLD SPDR MSCI World StrategicFactors ETF 0.6 30 28 5.9 -5.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.6 7 51 7.0 -4.2
NUEM Nuveen ESG Emerging Markets Equity ETF 0.6 36 22 8.1 -3.1
MCH Matthews China Active ETF 0.6 79 -21 15.3 +4.1
DFAE Dimensional Emerging Core Equity Market ETF 0.6 35 23 10.2 -1.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.6 90 -32 8.4 -2.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 17 9.4 -1.9
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.6 70 -12 7.8 -3.4
BKF iShares MSCI BIC ETF 0.6 69 -11 13.0 +1.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.6 39 19 16.9 +5.7
NUDM Nuveen ESG International Developed Markets Equity ETF 0.6 31 27 6.6 -4.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.6 15 43 8.6 -2.6
QINT American Century Quality Diversified International ETF 0.6 39 19 7.6 -3.6
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.6 25 33 6.0 -5.2
AVES Avantis Emerging Markets Value ETF 0.6 36 22 12.2 +1.0
IOO iShares Global 100 ETF 0.6 41 17 5.4 -5.9
EMGF iShares Emerging Markets Equity Factor ETF 0.6 25 33 12.4 +1.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 0.6 32 26 6.1 -5.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.6 44 14 11.0 -0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.6 14 44 6.0 -5.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.6 11 47 11.8 +0.6
EXI iShares Global Industrials ETF 0.5 42 16 4.9 -6.3
VWO Vanguard FTSE Emerging Markets ETF 0.5 8 50 10.9 -0.3
IEMG iShares Core MSCI Emerging Markets ETF 0.5 9 49 10.9 -0.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 25 10.6 -0.6
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 0.5 55 3 8.1 -3.1
KGRN KraneShares MSCI China Clean Technology Index ETF 0.5 79 -21 3.8 -7.4
RAYC Rayliant Quantamental China Equity ETF 0.5 80 -22 9.0 -2.2
MINV Matthews Asia Innovators Active ETF 0.5 79 -21 7.7 -3.5
BLLD JPMorgan Sustainable Infrastructure ETF 0.5 49 9 4.8 -6.4
IBAT iShares Energy Storage & Materials ETF 0.5 47 11 5.3 -5.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.5 66 -8 10.2 -1.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 22 11.2 -0.0
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.5 80 -22 4.9 -6.3
EEM iShares MSCI Emerging Markets ETF 0.5 69 -11 10.7 -0.5
SPEM SPDR Portfolio Emerging Markets ETF 0.5 7 51 10.9 -0.3
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 49 5.5 -5.7
ACWI iShares MSCI ACWI ETF 0.5 32 26 6.0 -5.2
SCZ iShares MSCI EAFE Small-Cap ETF 0.5 40 18 7.4 -3.8
URTH iShares MSCI World ETF 0.5 24 34 5.5 -5.7
SDY SPDR S&P Dividend ETF 0.5 35 23 6.2 -5.0
VSGX Vanguard ESG International Stock ETF 0.5 12 46 8.2 -3.1
VT Vanguard Total World Stock ETF 0.5 7 51 6.3 -4.9
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 0.5 65 -7 4.4 -6.8
IQSM IQ Candriam U.S. Mid Cap Equity ETF 0.5 15 43 5.8 -5.4
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 0.5 65 -7 4.1 -7.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.5 9 49 6.1 -5.1
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.5 56 2 12.6 +1.4
TOK iShares MSCI Kokusai ETF 0.5 26 32 5.2 -6.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.5 25 33 7.2 -4.0
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.4 80 -22 13.6 +2.4
FLAX Franklin FTSE Asia Ex Japan ETF 0.4 19 39 10.8 -0.4
EEMA iShares MSCI Emerging Markets Asia ETF 0.4 49 9 10.7 -0.5
RSPE Invesco ESG S&P 500 Equal Weight ETF 0.4 20 38 7.8 -3.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.4 20 38 6.6 -4.6
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -7 5.0 -6.2
DWMF WisdomTree International Multifactor Fund 0.4 38 20 6.9 -4.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.4 30 28 10.6 -0.7
GMF SPDR S&P Emerging Asia Pacific ETF 0.4 49 9 10.0 -1.2
IDLV Invesco S&P International Developed Low Volatility ETF 0.4 25 33 6.3 -4.9
DFSI Dimensional International Sustainability Core 1 ETF 0.4 24 34 6.6 -4.6
SCHE Schwab Emerging Markets Equity ETF 0.4 11 47 11.6 +0.3
RNEM First Trust Emerging Markets Equity Select ETF 0.4 75 -17 1.0 -10.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 43 10.8 -0.5
IMTM iShares MSCI Intl Momentum Factor ETF 0.4 30 28 5.6 -5.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.4 70 -12 9.8 -1.4
FEM First Trust Emerging Markets AlphaDEX Fund 0.4 80 -22 13.8 +2.6
VIDI Vident International Equity Strategy ETF 0.4 61 -3 12.0 +0.8
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.4 9 49 9.2 -2.0
XCNY SPDR S&P Emerging Markets ex-China ETF 0.3 15 43 0.0 -11.2
WLDR Affinity World Leaders Equity ETF 0.3 67 -9 8.3 -2.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.3 49 9 7.3 -3.9
DIM WisdomTree International MidCap Dividend Fund 0.3 58 0 7.7 -3.5
CGDV Capital Group Dividend Value ETF 0.3 33 25 4.9 -6.3
DSTX Distillate International Fundamental Stability & Value ETF 0.3 55 3 8.4 -2.8
GLOF iShares Global Equity Factor ETF 0.3 20 38 6.8 -4.4
WRND IQ Global Equity R&D Leaders ETF 0.3 18 40 7.9 -3.3
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.3 35 23 21.6 +10.3
XCEM Columbia EM Core ex-China ETF 0.3 16 42 8.5 -2.7
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.3 4 54 6.1 -5.1
CGGO Capital Group Global Growth Equity ETF 0.3 47 11 5.0 -6.2
FFLC Fidelity Fundamental Large Cap Core ETF 0.3 38 20 4.9 -6.3
STXM Strive Mid-Cap ETF 0.3 18 40 3.6 -7.6
EWN iShares MSCI Netherlands ETF 0.3 50 8 5.9 -5.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.3 59 -1 13.7 +2.5
XC WisdomTree Emerging Markets Ex-China Fund 0.3 32 26 5.5 -5.7
EMXC iShares MSCI Emerging Markets ex China ETF 0.3 25 33 8.0 -3.3
VBR Vanguard Small Cap Value ETF 0.3 7 51 8.5 -2.7
KLMT Invesco MSCI Global Climate 500 ETF 0.3 10 48 6.1 -5.1
BIBL Inspire 100 ETF 0.3 35 23 4.7 -6.5
CGGR Capital Group Growth ETF 0.3 39 19 3.7 -7.6
CVAR Cultivar ETF 0.2 87 -29 6.1 -5.1
EMXF iShares ESG Advanced MSCI EM ETF 0.2 16 42 8.4 -2.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.2 24 34 8.3 -2.9
SCHM Schwab U.S. Mid-Cap ETF 0.2 4 54 6.7 -4.5
EQAL Invesco Russell 1000 Equal Weight ETF 0.2 20 38 6.6 -4.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 0 10.1 -1.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.2 45 13 11.0 -0.2
FSST Fidelity Sustainable U.S. Equity ETF 0.2 59 -1 4.4 -6.9
IPKW Invesco International BuyBack Achievers ETF 0.2 55 3 15.3 +4.1
SCJ iShares MSCI Japan Small-Cap ETF 0.2 50 8 6.8 -4.4
IMCV iShares Morningstar Mid-Cap Value ETF 0.2 6 52 7.9 -3.3
EUSA iShares MSCI USA Equal Weighted ETF 0.2 9 49 6.0 -5.2
RSP Invesco S&P 500 Equal Weight ETF 0.2 20 38 6.3 -4.9
VB Vanguard Small-Cap ETF 0.2 5 53 5.7 -5.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.2 30 28 9.3 -1.9
SIZE iShares MSCI USA Size Factor ETF 0.1 15 43 5.8 -5.4
STXE Strive Emerging Markets Ex-China ETF 0.1 32 26 8.2 -3.1
ONEY SPDR Russell 1000 Yield Focus ETF 0.1 20 38 9.1 -2.1
DFAS Dimensional U.S. Small Cap ETF 0.1 26 32 6.9 -4.3
DFIS Dimensional International Small Cap ETF 0.1 39 19 7.9 -3.4
DMXF iShares ESG Advanced MSCI EAFE ETF 0.1 12 46 5.8 -5.5
LCTU BlackRock U.S. Carbon Transition Readiness ETF 0.1 14 44 5.2 -6.0
ISCF iShares International SmallCap Equity Factor ETF 0.1 23 35 8.6 -2.6
GWX SPDR S&P International Small Cap ETF 0.1 40 18 6.7 -4.5
IWS iShares Russell Mid-Cap Value ETF 0.1 23 35 6.5 -4.7
VEGI iShares MSCI Agriculture Producers ETF 0.1 39 19 8.8 -2.5
AVDV Avantis International Small Cap Value ETF 0.1 36 22 10.9 -0.3
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 19 6.3 -4.9
DISV Dimensional International Small Cap Value ETF 0.1 42 16 9.7 -1.6
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 38 5.9 -5.4
FLHK Franklin FTSE Hong Kong ETF 0.1 9 49 6.8 -4.4
EPU iShares MSCI Peru and Global Exposure ETF 0.1 59 -1 7.7 -3.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 46 5.1 -6.1
IMCB iShares Morningstar Mid-Cap ETF 0.1 4 54 6.0 -5.2
IEUS iShares MSCI Europe Small-Cap ETF 0.1 42 16 7.2 -4.1
DEM WisdomTree Emerging Markets High Dividend Fund 0.1 63 -5 13.6 +2.4
IWR iShares Russell Midcap ETF 0.1 19 39 5.8 -5.5
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF 0.1 5 53 7.1 -4.1
JHMM John Hancock Multifactor Mid Cap ETF 0.1 42 16 6.5 -4.7
SNPV Xtrackers S&P 500 Value ESG ETF 0.1 15 43 5.4 -5.8
PTL Inspire 500 ETF 0.1 9 49 5.4 -5.8
PALC Pacer Lunt Large Cap Multi-Factor Alternator ETF 0.1 60 -2 4.7 -6.6
STXV Strive 1000 Value ETF 0.1 18 40 7.5 -3.7
DFUV Dimensional US Marketwide Value ETF 0.1 22 36 8.1 -3.1
RVRB Reverb ETF 0.1 30 28 3.7 -7.5
VIG Vanguard Dividend Appreciation ETF 0.0 6 52 6.0 -5.3
WOMN Impact Shares YWCA Women's Empowerment ETF 0.0 75 -17 5.2 -6.1
SHUS Syntax Stratified U.S. Total Market Hedged ETF 0.0 65 -7 5.4 -5.9
SSPY Syntax Stratified LargeCap ETF 0.0 30 28 6.6 -4.6
PFM Invesco Dividend Achievers ETF 0.0 53 5 5.3 -5.9
IUS Invesco RAFI Strategic US ETF 0.0 19 39 7.1 -4.2
HLAL Wahed FTSE USA Shariah ETF 0.0 50 8 5.2 -6.1
SCHV Schwab U.S. Large-Cap Value ETF 0.0 4 54 6.8 -4.4
IVE iShares S&P 500 Value ETF 0.0 18 40 6.2 -5.0
SPYV SPDR Portfolio S&P 500 Value ETF 0.0 4 54 6.4 -4.9
VOOV Vanguard S&P 500 Value ETF 0.0 10 48 6.3 -4.9
ILCV iShares Morningstar Value ETF 0.0 4 54 6.7 -4.5
IWD iShares Russell 1000 Value ETF 0.0 19 39 6.5 -4.7
VONV Vanguard Russell 1000 Value ETF 0.0 8 50 6.6 -4.6
DGRO iShares Core Dividend Growth ETF 0.0 8 50 6.6 -4.6
DSI iShares MSCI KLD 400 Social ETF 0.0 25 33 5.2 -6.0
IUSV iShares Core S&P US Value ETF 0.0 4 54 6.5 -4.7
VLU SPDR S&P 1500 Value Tilt ETF 0.0 12 46 7.2 -4.0
SHE SPDR MSCI USA Gender Diversity ETF 0.0 20 38 5.2 -6.0
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.0 15 43 4.3 -6.9
JHML John Hancock Multifactor Large Cap ETF 0.0 29 29 5.6 -5.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 0.0 20 38 5.3 -5.9
SNPE Xtrackers S&P 500 ESG ETF 0.0 10 48 5.4 -5.8
SPXT ProShares S&P 500 Ex-Technology ETF 0.0 9 49 5.6 -5.7
GVUS Marketbeta Russell 1000 Value Equity ETF 0.0 12 46 6.5 -4.7
AVSU Avantis Responsible U.S. Equity ETF 0.0 15 43 6.4 -4.8
RWL Invesco S&P 500 Revenue ETF 0.0 39 19 7.0 -4.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 0.0 45 13 4.9 -6.3
FNDX Schwab Fundamental US Large Co. Index ETF 0.0 25 33 7.4 -3.8
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 19 7.0 -4.2
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 33 7.3 -3.9
XMAG Defiance Large Cap ex-Mag 7 ETF 0.0 35 23 4.6 -6.6
NACP Impact Shares NAACP Minority Empowerment ETF 0.0 49 9 4.9 -6.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.0 45 13 6.6 -4.6
AVUS Avantis U.S. Equity ETF 0.0 15 43 6.3 -4.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.0 2 56 5.3 -5.9
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 0.0 19 39 6.5 -4.7
SPXE ProShares S&P 500 Ex-Energy ETF 0.0 9 49 4.7 -6.5
SPXN ProShares S&P 500 Ex-Financials ETF 0.0 9 49 5.0 -6.2
SPXV ProShares S&P 500 Ex-Health Care ETF 0.0 9 49 4.4 -6.8
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 33 5.9 -5.3
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.0 11 47 5.2 -6.0
CATH Global X S&P 500 Catholic Values Custom ETF 0.0 29 29 5.1 -6.1
XVV iShares ESG Screened S&P 500 ETF 0.0 8 50 5.1 -6.1
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 49 5.0 -6.2
SPY SPDR S&P 500 ETF Trust 0.0 9 49 5.2 -6.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.0 20 38 5.0 -6.2
VOO Vanguard S&P 500 ETF 0.0 3 55 5.3 -5.9
PBUS Invesco MSCI USA ETF 0.0 4 54 5.2 -6.0
ILCB iShares Morningstar U.S. Equity ETF 0.0 3 55 5.2 -6.0
IVV iShares Core S&P 500 ETF 0.0 3 55 5.3 -5.9
QUS SPDR MSCI USA StrategicFactors ETF 0.0 15 43 5.8 -5.4
SPLG SPDR Portfolio S&P 500 ETF 0.0 2 56 5.3 -5.9
SCHK Schwab 1000 Index ETF 0.0 5 53 5.3 -5.9
SCHX Schwab U.S. Large-Cap ETF 0.0 3 55 5.3 -5.9
IWB iShares Russell 1000 ETF 0.0 15 43 5.2 -6.0
IYY iShares Dow Jones U.S. ETF 0.0 20 38 5.1 -6.1
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 0.0 3 55 5.5 -5.7
VONE Vanguard Russell 1000 ETF 0.0 8 50 5.3 -5.9
SCHB Schwab U.S. Broad Market ETF 0.0 3 55 5.3 -5.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 55 5.2 -6.0
IWV iShares Russell 3000 ETF 0.0 20 38 5.0 -6.2
VTHR Vanguard Russell 3000 ETF 0.0 10 48 5.2 -6.0
VTI Vanguard Total Stock Market ETF 0.0 3 55 5.2 -6.0
ONEO SPDR Russell 1000 Momentum Focus ETF 0.0 20 38 6.8 -4.4
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 41 6.0 -5.2
DFUS Dimensional U.S. Equity ETF 0.0 9 49 5.3 -5.9
STXG Strive 1000 Growth ETF 0.0 18 40 4.2 -7.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 38 6.0 -5.2
ACVF American Conservative Values ETF 0.0 75 -17 4.5 -6.7
DEUS Xtrackers Russell US Multifactor ETF 0.0 17 41 6.9 -4.3
HKND Humankind US Stock ETF 0.0 11 47 7.5 -3.8
EWX SPDR S&P Emerging Markets Small Cap ETF 0.0 65 -7 8.1 -3.2
SFY SoFi Select 500 ETF 0.0 0 58 4.8 -6.4
INRO iShares U.S. Industry Rotation Active ETF 0.0 42 16 4.1 -7.1
DFAU Dimensional US Core Equity Market ETF 0.0 12 46 5.5 -5.7
GSPY Gotham Enhanced 500 ETF 0.0 50 8 5.5 -5.7
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 40 5.8 -5.4
DCOR Dimensional US Core Equity 1 ETF 0.0 14 44 5.8 -5.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.0 12 46 4.5 -6.7

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 ProShares S&P Global Core Battery Metals ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.4 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 11.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.70 CATEGORY
AVERAGE		 1.55
 
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.