Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 5.4% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 21.3x P/Sales
ratio		 1.1x
P/BV
ratio		 1.6x Div.
yield		 1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating

FUND BASICS
Category Global Equities
Fund Sponsor Global X
Website www.globalxetfs.com/ipav
Inception date Aug 27, 2024
Assets (mns) $5
Currency USD
Expense ratio 55 bp
Distributions

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $24,367
Large cap (>$10bn) 68.0%
Mid cap ($2-10bn) 27.6%
Small cap (<$2bn) 4.1%
Developed mkts 63.9%
Emerging mkts 35.6%

TOP TEN HOLDINGS
ARCELORMITTAL SA 4.0 %
KOMATSU LTD 3.9 %
PRYSMIAN SPA 3.2 %
SHIN-ETSU CHEMICAL CO LTD 3.2 %
CEMEX SAB-SPONS ADR PART CER 3.1 %
CELLNEX TELECOM S.A. 3.1 %
CANADIAN PACIFIC KANSAS CITY LTD 3.1 %
EPIROC AB CLASS A 3.1 %
VINCI SA 3.0 %
POSCO 3.0 %
Total 32.5 %

TOP COUNTRY EXPOSURE
INDIA 17.9 %
JAPAN 15.1 %
CANADA 7.9 %
SPAIN 7.8 %
FRANCE 6.7 %
SOUTH KOREA 6.4 %
ITALY 5.9 %
LUXEMBOURG 4.4 %
SWEDEN 4.1 %
CHINA 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
6.0% 33.8% -- -- 18.9%

Market Correlations
versus... Beta R-squared
S&P500 0.60 45%
MSCI EAFE 0.88 71%
MSCI Emg. Mkts. 0.74 60%

Technical Indicators
Recent close $33.70
30d moving avg. $31.76
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.3%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 403 potential alternatives to the Global X Infrastructure Development ex-U.S. ETF ETF based on the alternatives' overlap in portfolio holdings with IPAV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IPAV Expense: 55 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IPAV
Ticker Fund
Name		 Overlap1
vs IPAV
(%)		 Expense
ratio
(bp)		 Savings
vs IPAV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IPAV
(%)
PICK iShares MSCI Global Metals & Mining Producers ETF 9.0 39 16 7.9 +2.5
NFTY First Trust India NIFTY 50 Equal Weight ETF 8.7 80 -25 4.2 -1.2
JIVE JPMorgan International Value ETF 8.5 55 0 8.2 +2.7
FEUZ First Trust Eurozone AlphaDEX ETF 8.3 80 -25 6.3 +0.8
FEP First Trust Europe AlphaDEX Fund 8.2 80 -25 6.6 +1.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.4 65 -10 7.7 +2.3
MXI iShares Global Materials ETF 7.3 41 14 5.6 +0.2
EWP iShares MSCI Spain ETF 6.9 50 5 5.8 +0.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.8 47 8 4.8 -0.6
SUPL ProShares Supply Chain Logistics ETF 6.7 58 -3 7.5 +2.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.6 46 9 4.9 -0.5
PIN Invesco India ETF 6.4 78 -23 4.1 -1.3
INDA iShares MSCI India ETF 6.3 65 -10 3.9 -1.5
INDY iShares India 50 ETF 6.3 89 -34 4.4 -1.0
ITOL Tema International Durable Quality ETF 6.1 60 -5 4.7 -0.7
FLIN Franklin FTSE India ETF 6.0 19 36 3.6 -1.8
SHPP Pacer Industrials and Logistics ETF 6.0 60 -5 6.7 +1.3
IVAL Alpha Architect International Quantitative Value ETF 5.9 49 6 7.3 +1.9
DSTX Distillate International Fundamental Stability & Value ETF 5.8 55 0 6.2 +0.8
NDIA Global X India Active ETF 5.8 75 -20 4.3 -1.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.7 58 -3 3.5 -1.9
INEQ Columbia International Equity Income ETF 5.6 45 10 7.3 +1.9
EPI WisdomTree India Earnings Fund 5.6 85 -30 4.4 -1.0
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.3 58 -3 7.3 +1.9
SRVR Pacer Data & Infrastructure Real Estate ETF 5.3 55 0 3.7 -1.7
IQRA IQ CBRE Real Assets ETF 5.1 65 -10 5.5 +0.1
EWQ iShares MSCI France ETF 4.8 53 2 6.0 +0.6
OSEA Harbor International Compounders ETF 4.8 55 0 3.9 -1.5
AVIV Avantis International Large Cap Value ETF 4.7 25 30 6.7 +1.2
FLCA Franklin FTSE Canada ETF 4.7 9 46 5.4 +0.0
WTRE WisdomTree New Economy Real Estate Fund 4.6 58 -3 -0.3 -5.7
FIVA Fidelity International Value Factor ETF 4.5 18 37 7.1 +1.7
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 4.5 24 31 6.5 +1.1
FIDI Fidelity International High Dividend ETF 4.4 18 37 7.0 +1.6
JHMD John Hancock Multifactor Developed International ETF 4.4 39 16 5.9 +0.5
HEDJ WisdomTree Europe Hedged Equity Fund 4.4 58 -3 5.8 +0.4
POW VistaShares Electrification Supercycle ETF 4.3 75 -20 2.4 -3.0
BBCA JPMorgan BetaBuilders Canada ETF 4.3 19 36 5.4 -0.1
RNEM First Trust Emerging Markets Equity Select ETF 4.3 75 -20 7.4 +1.9
EWI iShares MSCI Italy ETF 4.1 50 5 10.1 +4.7
AIVI WisdomTree International AI Enhanced Value Fund 4.1 58 -3 6.0 +0.6
PBD Invesco Global Clean Energy ETF 4.1 75 -20 0.3 -5.1
TOLL Tema Durable Quality ETF 4.0 75 -20 3.9 -1.5
OTGL OTG Latin America ETF 4.0 269 -214 6.7 +1.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 3.9 80 -25 6.4 +1.0
PPIE Putnam PanAgora ESG International Equity ETF 3.9 49 6 6.2 +0.7
VCLN Virtus Duff & Phelps Clean Energy ETF 3.9 59 -4 2.5 -2.9
UIVM VictoryShares International Value Momentum ETF 3.8 35 20 7.9 +2.5
IEUS iShares MSCI Europe Small-Cap ETF 3.7 42 13 6.4 +1.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.6 70 -15 3.8 -1.6
DFIV Dimensional International Value ETF 3.6 27 28 7.5 +2.1
NXTG First Trust Indxx NextG ETF 3.5 70 -15 4.5 -0.9
AVDV Avantis International Small Cap Value ETF 3.5 36 19 7.4 +2.0
CGIE Capital Group International Equity ETF 3.4 54 1 4.4 -1.1
TPIF Timothy Plan International ETF 3.4 62 -7 5.3 -0.1
INTF iShares International Equity Factor ETF 3.4 15 40 6.3 +0.9
IQDG WisdomTree International Quality Dividend Growth Fund 3.3 42 13 5.3 -0.1
AVDE Avantis International Equity ETF 3.3 23 32 6.0 +0.5
EZU iShares MSCI Eurozone ETF 3.3 52 3 5.4 -0.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.3 58 -3 5.1 -0.3
CCNR ALPS CoreCommodity Natural Resources ETF 3.3 39 16 8.0 +2.6
JPXN iShares JPX-Nikkei 400 ETF 3.3 48 7 5.3 -0.2
DXJ WisdomTree Japan Hedged Equity Fund 3.2 48 7 5.3 -0.1
AVES Avantis Emerging Markets Value ETF 3.2 36 19 8.5 +3.1
KNO AXS Knowledge Leaders ETF 3.2 78 -23 4.2 -1.2
FJP First Trust Japan AlphaDEX Fund 3.2 80 -25 6.8 +1.4
FNDF Schwab Fundamental International Large Co. Index ETF 3.2 25 30 7.4 +2.0
JIG JPMorgan International Growth ETF 3.2 55 0 3.5 -1.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.1 45 10 5.5 +0.1
FAN First Trust Global Wind Energy ETF 3.1 60 -5 2.9 -2.5
DMXF iShares ESG Advanced MSCI EAFE ETF 3.1 12 43 4.9 -0.6
IVLU iShares MSCI Intl Value Factor ETF 3.1 30 25 7.8 +2.4
DFEV Dimensional Emerging Markets Value ETF 3.1 43 12 9.7 +4.3
ASLV Allspring Special Large Value ETF 3.1 35 20 5.0 -0.4
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.1 65 -10 4.0 -1.5
SCHY Schwab International Dividend Equity ETF 3.0 14 41 7.9 +2.5
TMFG Motley Fool Global Opportunities ETF 3.0 85 -30 3.8 -1.6
IGRO iShares International Dividend Growth ETF 3.0 15 40 6.4 +1.0
GCOW Pacer Global Cash Cows Dividend ETF 3.0 60 -5 8.9 +3.4
FBOT Fidelity Disruptive Automation ETF 3.0 50 5 2.9 -2.5
ARKX ARK Space Exploration & Innovation ETF 3.0 75 -20 0.0 -5.4
EXI iShares Global Industrials ETF 2.9 42 13 3.4 -2.1
JHID John Hancock International High Dividend ETF 2.9 46 9 7.8 +2.4
GKAT Scharf Global Opportunity ETF 2.9 57 -2 5.6 +0.2
UMMA Wahed Dow Jones Islamic World ETF 2.9 65 -10 3.7 -1.8
BKCI BNY Mellon Concentrated International ETF 2.9 80 -25 4.6 -0.8
EFG iShares MSCI EAFE Growth ETF 2.8 36 19 3.6 -1.8
DFIS Dimensional International Small Cap ETF 2.8 39 16 5.9 +0.4
EWJV iShares MSCI Japan Value ETF 2.7 15 40 6.7 +1.2
DXIV Dimensional International Vector Equity ETF 2.7 34 21 6.3 +0.9
QINT American Century Quality Diversified International ETF 2.7 39 16 6.4 +1.0
AVDS Avantis International Small Cap Equity ETF 2.7 30 25 5.8 +0.3
SCZ iShares MSCI EAFE Small-Cap ETF 2.7 40 15 5.9 +0.5
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -3 5.9 +0.5
EWJ iShares MSCI Japan ETF 2.6 50 5 4.8 -0.6
DFIC Dimensional International Core Equity 2 ETF 2.6 23 32 6.0 +0.6
FLSW Franklin FTSE Switzerland ETF 2.6 9 46 5.3 -0.1
FSZ First Trust Switzerland AlphaDEX Fund 2.6 80 -25 4.7 -0.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 2.6 9 46 7.3 +1.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.6 25 30 6.1 +0.7
STXI Strive International Developed Markets ETF 2.6 29 26 5.5 +0.1
AADR AdvisorShares Dorsey Wright ADR ETF 2.6 110 -55 2.3 -3.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 8.2 +2.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.6 45 10 6.7 +1.3
DGT State Street SPDR Global Dow ETF 2.6 50 5 5.7 +0.3
JPIN J.P. Morgan Diversified Return International Equity ETF 2.6 37 18 6.7 +1.3
SCHC Schwab International Small-Cap Equity ETF 2.6 11 44 6.2 +0.8
FEM First Trust Emerging Markets AlphaDEX Fund 2.5 80 -25 8.9 +3.5
BBJP JPMorgan BetaBuilders Japan ETF 2.5 19 36 5.2 -0.2
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.5 25 30 5.3 -0.1
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 30 6.0 +0.6
XC WisdomTree Emerging Markets Ex-China Fund 2.5 32 23 5.7 +0.3
FLJP Franklin FTSE Japan ETF 2.5 9 46 5.3 -0.2
OAIM OneAscent International Equity ETF 2.5 95 -40 4.6 -0.9
CIL VictoryShares International Volatility Wtd ETF 2.5 45 10 5.7 +0.3
DFAI Dimensional International Core Equity Market ETF 2.5 18 37 5.8 +0.4
FDEV Fidelity International Multifactor ETF 2.5 18 37 6.8 +1.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.5 35 20 5.5 +0.0
RGEF Rockefeller Global Equity ETF 2.4 55 0 3.9 -1.5
DISV Dimensional International Small Cap Value ETF 2.4 42 13 7.7 +2.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.4 39 16 5.9 +0.5
EWL iShares MSCI Switzerland ETF 2.4 50 5 5.1 -0.4
VGK Vanguard FTSE Europe ETF 2.4 6 49 6.2 +0.8
SPEU SPDR Portfolio Europe ETF 2.4 7 48 6.1 +0.7
IEUR iShares Core MSCI Europe ETF 2.4 11 44 6.1 +0.7
FLJH Franklin FTSE Japan Hedged ETF 2.4 9 46 5.2 -0.2
IMFL Invesco International Developed Dynamic Multifactor ETF 2.4 34 21 4.9 -0.6
DTH WisdomTree International High Dividend Fund 2.4 58 -3 7.1 +1.6
EWD iShares MSCI Sweden ETF 2.4 54 1 4.7 -0.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.4 30 25 6.2 +0.8
DOL WisdomTree International LargeCap Dividend Fund 2.3 48 7 5.5 +0.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.3 47 8 4.8 -0.7
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 31 5.6 +0.2
IVSI Applied Finance IVS International LrgETF 2.3 65 -10 5.8 +0.4
BKIE BNY Mellon International Equity ETF 2.3 4 51 5.8 +0.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.3 39 16 13.3 +7.9
IMOM Alpha Architect International Quantitative Momentum ETF 2.3 49 6 4.0 -1.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.3 47 8 7.3 +1.9
EWC iShares MSCI Canada ETF 2.3 50 5 5.1 -0.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.3 14 41 5.2 -0.3
FRGN Horizon International Equity ETF 2.2 75 -20 7.9 +2.5
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.2 80 -25 3.4 -2.1
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.2 20 35 5.3 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 2.2 3 52 5.7 +0.3
FNDC Schwab Fundamental International Small Co. Index ETF 2.2 39 16 6.5 +1.1
IEV iShares Europe ETF 2.2 67 -12 5.6 +0.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.2 42 13 3.9 -1.6
VWID Virtus WMC International Dividend ETF 2.2 49 6 7.1 +1.6
WWJD Inspire International ETF 2.2 80 -25 6.0 +0.6
FCA First Trust China AlphaDEX Fund 2.2 80 -25 6.6 +1.2
FPXI First Trust International Equity Opportunities ETF 2.2 70 -15 3.9 -1.5
DIVI Franklin International Core Dividend Tilt Index ETF 2.2 9 46 6.4 +1.0
VEA Vanguard FTSE Developed Markets ETF 2.2 3 52 5.8 +0.4
FICS First Trust International Developed Capital Strength ETF 2.2 70 -15 6.3 +0.9
AVSD Avantis Responsible International Equity ETF 2.2 23 32 5.7 +0.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.2 40 15 5.4 0.0
IEFA iShares Core MSCI EAFE ETF 2.2 7 48 5.8 +0.4
FLKR Franklin FTSE South Korea ETF 2.2 9 46 5.1 -0.4
IDEV iShares Core MSCI International Developed Markets ETF 2.2 4 51 5.8 +0.4
DIHP Dimensional International High Profitability ETF 2.2 29 26 5.4 +0.0
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 6 5.7 +0.3
BKF iShares MSCI BIC ETF 2.1 69 -14 12.5 +7.1
DWM WisdomTree International Equity Fund 2.1 48 7 5.4 -0.1
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.1 33 22 6.4 +0.9
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 5.9 +0.5
SCHF Schwab International Equity ETF 2.1 6 49 5.9 +0.4
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.0 +0.6
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.1 12 43 5.1 -0.4
ECON Columbia Emerging Markets Consumer ETF 2.1 49 6 6.9 +1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.1 46 9 5.4 0.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.1 24 31 5.6 +0.1
EFA iShares MSCI EAFE ETF 2.1 35 20 5.5 +0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 5.9 +0.5
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.0 48 7 4.5 -0.9
LVHI Franklin International Low Volatility High Dividend Index ET 2.0 40 15 7.4 +2.0
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 13.1 +7.6
ICPY Tweedy, Browne International Insider Value ETF 2.0 80 -25 21.0 +15.6
GLIN VanEck India Growth Leaders ETF 2.0 77 -22 4.9 -0.5
VXUS Vanguard Total International Stock ETF 2.0 5 50 6.5 +1.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.0 18 37 6.2 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.0 41 14 6.0 +0.6
BINV Brandes International ETF 2.0 70 -15 8.0 +2.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 2.0 8 47 6.0 +0.6
VEU Vanguard FTSE All-World ex-US Index Fund 2.0 4 51 6.6 +1.2
HFXI IQ FTSE International Equity Currency Neutral ETF 2.0 20 35 5.6 +0.2
IBAT iShares Energy Storage & Materials ETF 2.0 47 8 2.0 -3.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 2.0 58 -3 5.9 +0.5
AVEM Avantis Emerging Markets Equity ETF 1.9 33 22 7.1 +1.7
VEXC Vanguard Emerging Markets Ex-China ETF 1.9 7 48 5.7 +0.3
GSID Goldman Sachs MarketBeta International Equity ETF 1.9 20 35 5.6 +0.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.9 35 20 11.1 +5.6
DFSI Dimensional International Sustainability Core 1 ETF 1.9 24 31 5.3 -0.1
VPL Vanguard FTSE Pacific ETF 1.9 7 48 5.3 -0.1
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 6.4 +1.0
IDOG ALPS International Sector Dividend Dogs ETF 1.9 50 5 9.2 +3.8
PATN Pacer Nasdaq International Patent Leaders ETF 1.9 65 -10 4.5 -1.0
NETZ TCW Transform Systems ETF 1.9 75 -20 1.3 -4.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 6.7 +1.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 36 19 5.3 -0.1
XCNY SPDR S&P Emerging Markets ex-China ETF 1.9 15 40 5.7 +0.3
ACWX iShares MSCI ACWI ex U.S. ETF 1.9 34 21 6.2 +0.8
SCJ iShares MSCI Japan Small-Cap ETF 1.9 50 5 5.4 -0.0
IPAC iShares Core MSCI Pacific ETF 1.9 9 46 5.3 -0.1
TNUK Tortoise Nuclear Renaissance ETF 1.9 75 -20 0.6 -4.8
PIEL Pacer International Export Leaders ETF 1.8 60 -5 4.0 -1.4
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.8 53 2 5.4 -0.1
VIDI Vident International Equity Strategy ETF 1.8 61 -6 8.1 +2.7
FEZ SPDR EURO STOXX 50 ETF 1.8 29 26 5.4 +0.0
FDCF Fidelity Disruptive Communications ETF 1.8 50 5 2.0 -3.5
XCEM Columbia EM Core ex-China ETF 1.8 16 39 5.2 -0.3
JHEM John Hancock Multifactor Emerging Markets ETF 1.8 49 6 7.6 +2.2
ISCF iShares International SmallCap Equity Factor ETF 1.8 23 32 6.9 +1.5
CWI SPDR MSCI ACWI ex-US ETF 1.8 30 25 6.3 +0.9
EWY iShares MSCI South Korea ETF 1.8 58 -3 4.0 -1.5
DFAE Dimensional Emerging Core Equity Market ETF 1.8 35 20 7.0 +1.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.8 32 23 4.9 -0.5
EEMA iShares MSCI Emerging Markets Asia ETF 1.7 49 6 7.7 +2.3
NUDM Nuveen ESG International Developed Markets Equity ETF 1.7 31 24 5.3 -0.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.7 32 23 7.5 +2.0
PID Invesco International Dividend Achievers ETF 1.7 53 2 3.8 -1.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 17 7.0 +1.6
FYLD Cambria Foreign Shareholder Yield ETF 1.7 59 -4 10.1 +4.7
EMXC iShares MSCI Emerging Markets ex China ETF 1.7 25 30 5.4 -0.1
IQLT iShares MSCI Intl Quality Factor ETF 1.7 30 25 5.3 -0.2
FLAX Franklin FTSE Asia Ex Japan ETF 1.7 19 36 7.3 +1.9
COPY Tweedy, Browne Insider + Value ETF 1.7 80 -25 14.8 +9.4
FLGR Franklin FTSE Germany ETF 1.7 9 46 6.1 +0.7
SAGP Strategas Global Policy Opportunities ETF 1.7 65 -10 4.5 -0.9
VYMI Vanguard International High Dividend Yield ETF 1.7 17 38 7.8 +2.3
IMTM iShares MSCI Intl Momentum Factor ETF 1.7 30 25 4.5 -0.9
JPEF JPMorgan Equity Focus ETF 1.7 50 5 3.8 -1.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.6 58 -3 8.0 +2.6
SMIN iShares MSCI India Small Cap ETF 1.6 79 -24 3.2 -2.2
DLS WisdomTree International SmallCap Dividend Fund 1.6 58 -3 7.0 +1.6
STXE Strive Emerging Markets Ex-China ETF 1.6 32 23 5.6 +0.2
IDMO Invesco S&P International Developed Momentum ETF 1.6 25 30 5.0 -0.4
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.1 -0.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.5 80 -25 8.4 +3.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.5 70 -15 7.1 +1.7
NUKZ Range Nuclear Renaissance Index ETF 1.5 85 -30 1.2 -4.3
EWG iShares MSCI Germany ETF 1.5 50 5 5.5 +0.1
BKEM BNY Mellon Emerging Markets Equity ETF 1.5 11 44 8.0 +2.6
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.5 30 25 5.8 +0.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.5 15 40 8.0 +2.6
OBOR KraneShares MSCI One Belt One Road Index ETF 1.5 79 -24 6.7 +1.3
DVYE iShares Emerging Markets Dividend ETF 1.4 49 6 17.0 +11.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.4 36 19 7.7 +2.2
DEHP Dimensional Emerging Markets High Profitability ETF 1.4 41 14 5.0 -0.4
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.4 80 -25 5.2 -0.2
EFV iShares MSCI EAFE Value ETF 1.4 34 21 7.3 +1.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.4 66 -11 7.4 +2.0
IQSI IQ Candriam International Equity ETF 1.4 15 40 5.4 -0.1
SCHE Schwab Emerging Markets Equity ETF 1.4 11 44 9.1 +3.7
VWO Vanguard FTSE Emerging Markets ETF 1.4 7 48 8.8 +3.4
DAX Global X DAX Germany ETF 1.4 21 34 5.7 +0.3
VIGI Vanguard International Dividend Appreciation ETF 1.4 10 45 5.8 +0.4
GMF SPDR S&P Emerging Asia Pacific ETF 1.4 49 6 8.5 +3.1
IEMG iShares Core MSCI Emerging Markets ETF 1.4 9 46 8.2 +2.8
CZAR Themes Natural Monopoly ETF 1.3 35 20 5.2 -0.2
EEM iShares MSCI Emerging Markets ETF 1.3 69 -14 7.8 +2.4
FPAG FPA Global Equity ETF 1.3 49 6 5.6 +0.2
FGM First Trust Germany AlphaDEX Fund 1.3 80 -25 4.4 -1.0
ESGD iShares ESG Aware MSCI EAFE ETF 1.3 20 35 5.5 +0.1
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.3 75 -20 6.5 +1.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.3 45 10 8.1 +2.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.3 70 -15 6.2 +0.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -33 8.3 +2.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 26 6.9 +1.5
GNR SPDR S&P Global Natural Resources ETF 1.2 40 15 8.2 +2.8
FENI Fidelity Enhanced International ETF 1.2 28 27 5.6 +0.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.2 44 11 8.8 +3.4
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 8 7.5 +2.1
EWUS iShares MSCI United Kingdom Small Cap ETF 1.2 59 -4 6.8 +1.4
FDD First Trust Stoxx European Select Dividend Index Fund 1.2 58 -3 9.8 +4.4
EDEN iShares MSCI Denmark ETF 1.2 53 2 6.0 +0.6
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 11 7.8 +2.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.1 30 25 8.1 +2.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 -4 8.4 +3.0
EMGF iShares Emerging Markets Equity Factor ETF 1.1 25 30 9.0 +3.6
BLES Inspire Global Hope ETF 1.1 61 -6 5.7 +0.3
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 9.2 +3.7
DTCR Global X Data Center & Digital Infrastructure ETF 1.1 50 5 3.9 -1.6
DGIN VanEck Digital India ETF 1.1 71 -16 1.3 -4.1
GEW Cambria Global EW ETF 1.1 29 26 5.3 -0.1
CGDG Capital Group Dividend Growers ETF 1.0 47 8 5.0 -0.5
MJSC MUFG Japan Small Cap Active ETF 1.0 85 -30 4.6 -0.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 10 9.1 +3.7
LDEM iShares ESG MSCI EM Leaders ETF 1.0 17 38 11.3 +5.9
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 20 3.7 -1.7
WSML iShares MSCI World Small-Cap ETF 1.0 15 40 5.3 -0.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.0 70 -15 9.0 +3.6
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.0 75 -20 2.3 -3.1
EWT iShares MSCI Taiwan ETF 0.9 58 -3 4.1 -1.3
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 7.4 +2.0
FID First Trust S&P International Dividend Aristocrats ETF 0.9 60 -5 7.5 +2.1
EWO iShares MSCI Austria ETF 0.9 50 5 7.6 +2.2
GVAL Cambria Global Value ETF 0.9 68 -13 8.6 +3.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.9 41 14 6.8 +1.3
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 0.9 75 -20 6.2 +0.8
FRNW Fidelity Clean Energy ETF 0.9 39 16 1.9 -3.5
SMOG VanEck Low Carbon Energy ETF 0.9 61 -6 1.2 -4.2
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 13 4.2 -1.2
DFE WisdomTree Europe SmallCap Dividend Fund 0.9 58 -3 7.2 +1.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.9 29 26 8.2 +2.8
FKU First Trust United Kingdom AlphaDEX Fund 0.9 80 -25 6.7 +1.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 7.8 +2.4
DFJ WisdomTree Japan SmallCap Dividend Fund 0.8 58 -3 6.2 +0.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.8 12 43 4.5 -0.9
ILF iShares Latin America 40 ETF 0.8 48 7 8.6 +3.2
CVAR Cultivar ETF 0.8 87 -32 6.7 +1.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 13 7.4 +2.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.8 9 46 4.9 -0.5
VT Vanguard Total World Stock ETF 0.8 6 49 5.1 -0.4
CGXU Capital Group International Focus Equity ETF 0.8 54 1 3.8 -1.6
DEW WisdomTree Global High Dividend Fund 0.8 58 -3 7.1 +1.7
FLAU Franklin FTSE Australia ETF 0.7 9 46 5.6 +0.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.7 90 -35 4.1 -1.3
EWM iShares MSCI Malaysia ETF 0.7 50 5 5.9 +0.5
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 35 5.4 -0.1
GLOF iShares Global Equity Factor ETF 0.7 20 35 5.7 +0.2
VSGX Vanguard ESG International Stock ETF 0.7 10 45 6.4 +1.0
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.7 80 -25 7.1 +1.7
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -5 3.2 -2.2
ACWI iShares MSCI ACWI ETF 0.7 32 23 4.7 -0.7
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.7 50 5 5.5 +0.1
EUDV ProShares MSCI Europe Dividend Growers ETF 0.7 55 0 5.3 -0.1
HAP VanEck Natural Resources ETF 0.7 50 5 6.5 +1.0
WDIV SPDR S&P Global Dividend ETF 0.7 40 15 8.7 +3.3
WRND IQ Global Equity R&D Leaders ETF 0.7 18 37 4.0 -1.4
CGW Invesco S&P Global Water Index ETF 0.7 57 -2 4.0 -1.4
EWN iShares MSCI Netherlands ETF 0.7 50 5 4.6 -0.8
FDEM Fidelity Emerging Markets Multifactor ETF 0.7 25 30 10.2 +4.8
FLTW Franklin FTSE Taiwan ETF 0.6 19 36 4.5 -0.9
EYLD Cambria Emerging Shareholder Yield ETF 0.6 66 -11 9.1 +3.7
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.6 45 10 -0.9 -6.4
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 5.3 -0.2
URTH iShares MSCI World ETF 0.6 24 31 4.4 -1.0
ISRA VanEck Israel ETF 0.6 59 -4 5.8 +0.4
EIS iShares MSCI Israel ETF 0.6 58 -3 6.3 +0.9
CGV Conductor Global Equity Value ETF 0.6 130 -75 7.0 +1.6
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.0 -0.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.6 20 35 5.5 +0.1
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 6 4.5 -0.9
QWLD SPDR MSCI World StrategicFactors ETF 0.6 30 25 5.1 -0.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.6 15 40 8.8 +3.4
DEM WisdomTree Emerging Markets High Dividend Fund 0.6 63 -8 10.5 +5.1
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 36 19 6.0 +0.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.5 -1.0
OCEN IQ Clean Oceans ETF 0.5 45 10 4.5 -0.9
GLBL Pacer MSCI World Industry Advantage ETF 0.5 65 -10 3.6 -1.8
CLNR IQ Cleaner Transport ETF 0.5 45 10 3.9 -1.6
JGLO JPMorgan Global Select Equity ETF 0.5 33 22 4.2 -1.3
GWX SPDR S&P International Small Cap ETF 0.5 40 15 5.6 +0.2
TOK iShares MSCI Kokusai ETF 0.5 26 29 4.3 -1.1
EMXF iShares ESG Advanced MSCI EM ETF 0.5 16 39 6.9 +1.5
GXC SPDR S & P China ETF 0.5 59 -4 16.2 +10.8
IXP iShares Global Comm Services ETF 0.5 42 13 5.4 -0.1
EPOL iShares MSCI Poland ETF 0.5 59 -4 9.2 +3.7
DTAN Sparkline International Intangible Value ETF 0.4 55 0 6.8 +1.4
DWMF WisdomTree International Multifactor Fund 0.4 38 17 6.4 +0.9
JADE JPMorgan Active Developing Markets Equity ETF 0.4 65 -10 6.1 +0.7
FLCH Franklin FTSE China ETF 0.4 19 36 15.5 +10.1
EDIV SPDR S&P Emerging Markets Dividend ETF 0.4 49 6 8.4 +2.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 22 6.8 +1.4
AVSE Avantis Responsible Emerging Markets Equity ETF 0.4 33 22 6.7 +1.3
FRDM Freedom 100 Emerging Markets ETF 0.4 49 6 5.7 +0.2
MCHI iShares MSCI China ETF 0.4 59 -4 17.5 +12.0
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.4 80 -25 11.2 +5.8
WLDR Affinity World Leaders Equity ETF 0.4 67 -12 6.3 +0.9
EFNL iShares MSCI Finland ETF 0.4 56 -1 5.9 +0.5
GREK Global X MSCI Greece ETF 0.4 57 -2 9.2 +3.8
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.4 19 36 5.1 -0.3
AFK VanEck Africa Index ETF 0.3 98 -43 9.4 +3.9
APIE ActivePassive International Equity ETF 0.3 45 10 6.1 +0.7
NLR VanEck Uranium+Nuclear Energy ETF 0.3 61 -6 1.2 -4.2
URA Global X Uranium ETF 0.3 69 -14 0.6 -4.8
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.3 25 30 5.5 +0.1
ESGE iShares ESG Aware MSCI EM ETF 0.3 25 30 8.3 +2.8
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 9.8 +4.3
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.3 20 35 0.9 -4.6
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 3.8 -1.6
AQLT iShares MSCI Global Quality Factor ETF 0.3 18 37 0.0 -5.4
IPKW Invesco International BuyBack Achievers ETF 0.2 55 0 7.7 +2.3
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 26 7.3 +1.9
EMMF WisdomTree Emerging Markets Multifactor Fund 0.2 48 7 8.6 +3.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 4.8 -0.7
ECNS iShares MSCI China Small-Cap ETF 0.2 59 -4 7.4 +2.0
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 2.8 -2.6
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.4 -0.0
FLBR Franklin FTSE Brazil ETF 0.2 19 36 10.7 +5.3
EWZS iShares MSCI Brazil Small-Cap ETF 0.2 59 -4 9.8 +4.3
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 -10 6.5 +1.1
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 4.4 -1.0
PRNT 3D Printing ETF 0.2 66 -11 1.3 -4.1
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.2 -1.2
FLLA Franklin FTSE Latin America ETF 0.1 19 36 9.6 +4.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 6.3 +0.9
ACVF American Conservative Values ETF 0.1 75 -20 3.8 -1.7
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.0 -2.4
IUS Invesco RAFI Strategic US ETF 0.1 19 36 5.8 +0.4
TUR iShares MSCI Turkey ETF 0.1 58 -3 11.6 +6.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.1 40 15 6.3 +0.9
GVLU Gotham 1000 Value ETF 0.0 50 5 7.9 +2.5

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

  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:		 Global X Infrastructure Development ex-U.S. 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 9.5 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 CATEGORY
AVERAGE		 1.58
 
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.