Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 9.5% info Recommen-
dation		 SPECULATIVE
2024E    2025E
P/E
ratio		 13.2x P/Sales
ratio		 0.7x
P/BV
ratio		 1.3x Div.
yield		 2.6%


  • 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) $2
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 98
Wgt avg mkt cap (mns) $25,051
Large cap (>$10bn) 67.6%
Mid cap ($2-10bn) 29.9%
Small cap (<$2bn) 2.4%
Developed mkts 65.1%
Emerging mkts 34.9%

TOP TEN HOLDINGS
ULTRATECH CEMENT LTD 3.6 %
PRYSMIAN SPA 3.4 %
HOLCIM LTD-REG 3.4 %
SHIN-ETSU CHEMICAL CO LTD 3.3 %
CELLNEX TELECOM S.A. 3.3 %
GRUPO FERROVIAL 3.3 %
CANADIAN PACIFIC KANSAS CITY LTD 3.2 %
LARSEN & TOUBRO LIMITED 3.2 %
NIPPON STEEL CORP 3.1 %
VINCI SA 3.0 %
Total 32.8 %

TOP COUNTRY EXPOSURE
INDIA 22.6 %
JAPAN 13.9 %
SPAIN 8.0 %
CANADA 7.7 %
FRANCE 7.6 %
ITALY 6.0 %
SWITZERLAND 5.2 %
SWEDEN 3.9 %
LUXEMBOURG 3.9 %
GERMANY 3.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-- -- -- -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $24.55
30d moving avg. $0.00
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI)

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.00%
ADV underlying (mns) $1,609

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 392 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™: 9.5%


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
(%)
ICOW Pacer Developed Markets International Cash Cows 100 ETF 10.4 65 -10 12.7 +3.2
NDIA Global X India Active ETF 9.6 75 -20 6.7 -2.9
MXI iShares Global Materials ETF 7.8 41 14 6.8 -2.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.6 47 8 5.3 -4.3
PICK iShares MSCI Global Metals & Mining Producers ETF 7.5 39 16 13.3 +3.8
EWP iShares MSCI Spain ETF 7.3 50 5 8.1 -1.4
NFTY First Trust India NIFTY 50 Equal Weight ETF 7.3 80 -25 5.5 -4.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 7.2 46 9 5.0 -4.5
BLLD JPMorgan Sustainable Infrastructure ETF 7.2 49 6 5.3 -4.2
IVAL Alpha Architect International Quantitative Value ETF 7.2 49 6 11.8 +2.2
SUPL ProShares Supply Chain Logistics ETF 7.1 58 -3 14.2 +4.7
DXJ WisdomTree Japan Hedged Equity Fund 6.4 48 7 8.9 -0.7
INDY iShares India 50 ETF 6.3 89 -34 4.6 -5.0
BBCA JPMorgan BetaBuilders Canada ETF 6.1 19 36 6.9 -2.6
FLCA Franklin FTSE Canada ETF 6.1 9 46 7.1 -2.4
SHPP Pacer Industrials and Logistics ETF 6.1 60 -5 10.0 +0.5
PIN Invesco India ETF 6.0 78 -23 4.3 -5.2
TMFG Motley Fool Global Opportunities ETF 6.0 85 -30 3.3 -6.3
FLIN Franklin FTSE India ETF 5.9 19 36 4.7 -4.9
BKCI BNY Mellon Concentrated International ETF 5.8 80 -25 3.9 -5.6
INDA iShares MSCI India ETF 5.8 65 -10 4.2 -5.3
JHID John Hancock International High Dividend ETF 5.8 46 9 11.1 +1.6
TOLL Tema Monopolies and Oligopolies ETF 5.5 75 -20 2.7 -6.8
UIVM VictoryShares International Value Momentum ETF 5.5 35 20 10.8 +1.3
WTRE WisdomTree New Economy Real Estate Fund 5.5 58 -3 0.4 -9.2
SRVR Pacer Data & Infrastructure Real Estate ETF 5.5 55 0 1.8 -7.7
EPI WisdomTree India Earnings Fund 5.5 85 -30 6.0 -3.5
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.5 58 -3 4.6 -4.9
JIG JPMorgan International Growth ETF 5.5 55 0 4.5 -5.0
FEUZ First Trust Eurozone AlphaDEX ETF 5.4 80 -25 4.6 -4.9
GREI Goldman Sachs Future Real Estate and Infrastructure Equity E 5.3 75 -20 4.3 -5.2
FEP First Trust Europe AlphaDEX Fund 4.9 80 -25 5.8 -3.7
TEMP JPMorgan Climate Change Solutions ETF 4.9 49 6 5.3 -4.2
AIVI WisdomTree International AI Enhanced Value Fund 4.6 58 -3 8.0 -1.5
AVES Avantis Emerging Markets Value ETF 4.6 36 19 11.8 +2.3
TPIF Timothy Plan International ETF 4.6 62 -7 6.6 -2.9
IDAT iShares Future Cloud 5G and Tech ETF 4.5 47 8 4.4 -5.1
PBD Invesco Global Clean Energy ETF 4.5 75 -20 -3.3 -12.9
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 4.5 58 -3 9.3 -0.2
EWI iShares MSCI Italy ETF 4.4 50 5 8.5 -1.0
RNEM First Trust Emerging Markets Equity Select ETF 4.4 75 -20 5.9 -3.6
IQIN IQ 500 International ETF 4.4 25 30 8.9 -0.6
EWQ iShares MSCI France ETF 4.3 53 2 5.9 -3.6
OSEA Harbor International Compounders ETF 4.2 55 0 4.0 -5.5
EEMO Invesco S&P Emerging Markets Momentum ETF 4.2 29 26 6.2 -3.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.0 9 46 9.4 -0.1
IMOM Alpha Architect International Quantitative Momentum ETF 4.0 49 6 6.5 -3.0
NXTG First Trust Indxx NextG ETF 3.9 70 -15 5.8 -3.7
IDMO Invesco S&P International Developed Momentum ETF 3.9 25 30 7.6 -1.9
DFEV Dimensional Emerging Markets Value ETF 3.8 43 12 11.5 +2.0
BINV Brandes International ETF 3.8 70 -15 8.3 -1.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 3.7 80 -25 8.6 -0.9
FJP First Trust Japan AlphaDEX Fund 3.7 80 -25 10.4 +0.9
MOTI VanEck Morningstar International Moat ETF 3.7 58 -3 6.4 -3.2
IQRA IQ CBRE Real Assets ETF 3.7 65 -10 5.1 -4.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 3.6 25 30 6.8 -2.7
GCOW Pacer Global Cash Cows Dividend ETF 3.6 60 -5 12.1 +2.6
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 3.6 25 30 8.5 -1.1
VIGI Vanguard International Dividend Appreciation ETF 3.5 15 40 6.1 -3.4
VWID Virtus WMC International Dividend ETF 3.5 49 6 9.1 -0.4
CIL VictoryShares International Volatility Wtd ETF 3.5 45 10 6.8 -2.7
DBJP Xtrackers MSCI Japan Hedged Equity ETF 3.4 47 8 7.5 -2.0
BBJP JPMorgan BetaBuilders Japan ETF 3.4 19 36 7.6 -1.9
SXUS Janus Henderson International Sustainable Equity ETF 3.4 60 -5 4.1 -5.4
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 3.4 51 4 6.8 -2.7
FPAG FPA Global Equity ETF 3.4 49 6 5.7 -3.9
FSZ First Trust Switzerland AlphaDEX Fund 3.4 80 -25 4.0 -5.5
FYLD Cambria Foreign Shareholder Yield ETF 3.4 59 -4 12.7 +3.2
DSTX Distillate International Fundamental Stability & Value ETF 3.3 55 0 8.6 -0.9
FIDI Fidelity International High Dividend ETF 3.3 18 37 10.4 +0.9
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 3.3 24 31 8.5 -1.0
EWJ iShares MSCI Japan ETF 3.3 50 5 7.3 -2.2
NETZ TCW Transform Systems ETF 3.2 75 -20 3.7 -5.8
FEM First Trust Emerging Markets AlphaDEX Fund 3.2 80 -25 15.2 +5.7
IDLV Invesco S&P International Developed Low Volatility ETF 3.2 25 30 5.6 -3.9
FLJP Franklin FTSE Japan ETF 3.2 9 46 7.6 -1.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.2 42 13 7.8 -1.8
JPXN iShares JPX-Nikkei 400 ETF 3.2 48 7 8.0 -1.5
FLJH Franklin FTSE Japan Hedged ETF 3.2 9 46 7.8 -1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.2 25 30 7.1 -2.5
FAN First Trust Global Wind Energy ETF 3.1 60 -5 5.2 -4.3
EXI iShares Global Industrials ETF 3.1 42 13 4.6 -4.9
JGLO JPMorgan Global Select Equity ETF 3.1 33 22 4.5 -5.0
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.1 45 10 6.4 -3.1
UEVM VictoryShares Emerging Markets Value Momentum ETF 3.1 45 10 12.5 +3.0
FLSW Franklin FTSE Switzerland ETF 3.1 9 46 5.0 -4.5
IBAT iShares Energy Storage & Materials ETF 3.1 47 8 3.6 -5.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.1 58 -3 6.1 -3.4
FID First Trust S&P International Dividend Aristocrats ETF 3.0 60 -5 9.1 -0.4
EWL iShares MSCI Switzerland ETF 3.0 50 5 4.2 -5.3
RFEU First Trust Riverfront Dynamic Europe ETF 3.0 83 -28 10.5 +1.0
DIM WisdomTree International MidCap Dividend Fund 3.0 58 -3 7.5 -2.0
EZU iShares MSCI Eurozone ETF 3.0 52 3 6.4 -3.1
JHMD John Hancock Multifactor Developed International ETF 3.0 39 16 7.5 -2.0
IQDG WisdomTree International Quality Dividend Growth Fund 3.0 42 13 6.3 -3.2
SCHY Schwab International Dividend Equity ETF 3.0 14 41 8.9 -0.6
FGM First Trust Germany AlphaDEX Fund 3.0 80 -25 6.0 -3.5
VCLN Virtus Duff & Phelps Clean Energy ETF 3.0 59 -4 3.6 -5.9
FIVA Fidelity International Value Factor ETF 3.0 18 37 10.1 +0.6
AVIV Avantis International Large Cap Value ETF 3.0 25 30 9.0 -0.5
IVLU iShares MSCI Intl Value Factor ETF 2.9 30 25 11.2 +1.7
DMXF iShares ESG Advanced MSCI EAFE ETF 2.9 12 43 5.2 -4.3
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.9 65 -10 6.1 -3.4
IEUS iShares MSCI Europe Small-Cap ETF 2.9 42 13 6.0 -3.5
UMMA Wahed Dow Jones Islamic World ETF 2.9 65 -10 4.6 -4.9
AVDE Avantis International Equity ETF 2.9 23 32 7.9 -1.6
EWC iShares MSCI Canada ETF 2.9 50 5 6.9 -2.6
IMTM iShares MSCI Intl Momentum Factor ETF 2.9 30 25 6.7 -2.8
EWJV iShares MSCI Japan Value ETF 2.8 15 40 9.2 -0.3
HEDJ WisdomTree Europe Hedged Equity Fund 2.8 58 -3 9.2 -0.3
AVDV Avantis International Small Cap Value ETF 2.8 36 19 8.0 -1.5
FLEU Franklin FTSE Eurozone ETF 2.7 9 46 7.0 -2.5
ARKX ARK Space Exploration & Innovation ETF 2.7 75 -20 2.3 -7.2
DFIV Dimensional International Value ETF 2.7 27 28 9.9 +0.4
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.7 58 -3 10.1 +0.5
AVEM Avantis Emerging Markets Equity ETF 2.7 33 22 9.1 -0.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.7 40 15 7.8 -1.7
JPIN J.P. Morgan Diversified Return International Equity ETF 2.7 37 18 8.5 -1.0
DOL WisdomTree International LargeCap Dividend Fund 2.7 48 7 7.6 -1.9
SMIN iShares MSCI India Small Cap ETF 2.6 79 -24 3.1 -6.4
FDCF Fidelity Disruptive Communications ETF 2.6 50 5 2.9 -6.6
BKIE BNY Mellon International Equity ETF 2.6 4 51 6.9 -2.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 13.3 +3.8
BKF iShares MSCI BIC ETF 2.6 69 -14 7.3 -2.2
XC WisdomTree Emerging Markets Ex-China Fund 2.6 32 23 5.9 -3.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.6 39 16 12.8 +3.3
IMFL Invesco International Developed Dynamic Multifactor ETF 2.6 34 21 6.3 -3.2
FDEV Fidelity International Multifactor ETF 2.6 18 37 7.5 -2.0
DWM WisdomTree International Equity Fund 2.6 48 7 7.7 -1.8
DISV Dimensional International Small Cap Value ETF 2.6 42 13 9.1 -0.4
EMM Global X Emerging Markets ex-China ETF 2.5 75 -20 3.9 -5.6
DIVI Franklin International Core Dividend Tilt Index ETF 2.5 9 46 7.7 -1.8
SLX VanEck Steel ETF 2.5 56 -1 22.0 +12.5
BNE Blue Horizon BNE ETF 2.5 87 -32 4.9 -4.6
DWMF WisdomTree International Multifactor Fund 2.5 38 17 7.3 -2.2
DWX SPDR S&P International Dividend ETF 2.5 45 10 6.3 -3.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.5 45 10 8.7 -0.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.5 30 25 7.9 -1.6
FNDF Schwab Fundamental International Large Co. Index ETF 2.5 25 30 9.5 -0.1
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 2.5 80 -25 4.9 -4.6
EFV iShares MSCI EAFE Value ETF 2.4 34 21 9.1 -0.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 2.4 29 26 8.4 -1.1
QINT American Century Quality Diversified International ETF 2.4 39 16 7.6 -2.0
DTH WisdomTree International High Dividend Fund 2.4 58 -3 9.8 +0.3
DFAI Dimensional International Core Equity Market ETF 2.4 18 37 7.0 -2.5
DFIC Dimensional International Core Equity 2 ETF 2.4 23 32 7.5 -2.0
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.4 70 -15 9.5 -0.0
DFEM Dimensional Emerging Markets Core Equity 2 ETF 2.4 38 17 8.0 -1.5
WDIV SPDR S&P Global Dividend ETF 2.4 40 15 9.5 -0.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.4 32 23 6.7 -2.9
DMDV AAM S&P Developed Markets High Dividend Value ETF 2.4 39 16 12.2 +2.7
INTF iShares International Equity Factor ETF 2.3 15 40 8.0 -1.5
LVHI Franklin International Low Volatility High Dividend Index ET 2.3 40 15 10.1 +0.6
DFAE Dimensional Emerging Core Equity Market ETF 2.3 35 20 7.5 -2.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.3 18 37 6.9 -2.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.3 41 14 7.4 -2.2
JHEM John Hancock Multifactor Emerging Markets ETF 2.3 49 6 8.3 -1.2
FDD First Trust Stoxx European Select Dividend Index Fund 2.3 58 -3 13.4 +3.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 2.3 20 35 6.2 -3.3
ROAM Hartford Multifactor Emerging Markets ETF 2.3 44 11 15.4 +5.9
DFE WisdomTree Europe SmallCap Dividend Fund 2.3 58 -3 10.9 +1.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.3 39 16 7.4 -2.1
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.3 35 20 6.3 -3.2
DEHP Dimensional Emerging Markets High Profitability ETF 2.2 41 14 5.3 -4.2
EWD iShares MSCI Sweden ETF 2.2 54 1 6.5 -3.0
SPEU SPDR Portfolio Europe ETF 2.2 7 48 6.7 -2.8
SPDW SPDR Portfolio Developed World ex-US ETF 2.2 3 52 6.9 -2.6
SCHF Schwab International Equity ETF 2.2 6 49 7.2 -2.3
VIDI Vident International Equity Strategy ETF 2.2 61 -6 10.5 +1.0
IEUR iShares Core MSCI Europe ETF 2.2 11 44 6.7 -2.8
IDEV iShares Core MSCI International Developed Markets ETF 2.2 4 51 6.9 -2.7
JIRE JPMorgan International Research Enhanced Equity ETF 2.2 24 31 6.8 -2.8
VGK Vanguard FTSE Europe ETF 2.2 11 44 6.8 -2.8
VEU Vanguard FTSE All-World ex-US Index Fund 2.1 8 47 7.1 -2.4
FENI Fidelity Enhanced International ETF 2.1 28 27 7.8 -1.8
GSID Goldman Sachs MarketBeta International Equity ETF 2.1 20 35 6.7 -2.8
VRAI Virtus Real Asset Income ETF 2.1 55 0 8.2 -1.3
HFXI IQ FTSE International Equity Currency Neutral ETF 2.1 20 35 6.9 -2.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.1 32 23 6.4 -3.1
STXE Strive Emerging Markets Ex-China ETF 2.1 32 23 7.0 -2.5
EFA iShares MSCI EAFE ETF 2.1 35 20 6.6 -2.9
VEA Vanguard FTSE Developed Markets ETF 2.1 5 50 7.1 -2.5
CGW Invesco S&P Global Water Index ETF 2.1 57 -2 3.8 -5.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.1 36 19 6.5 -3.0
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.7 -2.8
IEV iShares Europe ETF 2.1 67 -12 6.3 -3.3
DGT SPDR Global Dow ETF 2.1 50 5 6.6 -2.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.1 14 41 5.9 -3.7
IEFA iShares Core MSCI EAFE ETF 2.1 7 48 6.8 -2.7
KNO AXS Knowledge Leaders ETF 2.1 78 -23 4.9 -4.7
IQLT iShares MSCI Intl Quality Factor ETF 2.1 30 25 5.9 -3.6
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.1 39 16 7.3 -2.2
EEMA iShares MSCI Emerging Markets Asia ETF 2.1 49 6 6.8 -2.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.0 45 10 11.2 +1.7
GVAL Cambria Global Value ETF 2.0 68 -13 13.3 +3.8
VXUS Vanguard Total International Stock ETF 2.0 7 48 7.1 -2.4
IXUS iShares Core MSCI Total International Stock ETF 2.0 7 48 7.1 -2.5
ACWX iShares MSCI ACWI ex U.S. ETF 2.0 34 21 6.9 -2.7
FLEE Franklin FTSE Europe ETF 2.0 9 46 6.8 -2.7
DLS WisdomTree International SmallCap Dividend Fund 2.0 58 -3 8.7 -0.8
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.0 46 9 6.3 -3.3
EMXC iShares MSCI Emerging Markets ex China ETF 2.0 25 30 6.7 -2.8
FLAX Franklin FTSE Asia Ex Japan ETF 2.0 19 36 7.1 -2.4
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 2.0 80 -25 14.4 +4.9
IPAC iShares Core MSCI Pacific ETF 2.0 9 46 6.9 -2.6
CWI SPDR MSCI ACWI ex-US ETF 2.0 30 25 6.8 -2.7
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 13.0 +3.5
IGRO iShares International Dividend Growth ETF 1.9 15 40 7.1 -2.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.9 49 6 6.7 -2.8
DFIS Dimensional International Small Cap ETF 1.9 39 16 6.6 -2.9
SCZ iShares MSCI EAFE Small-Cap ETF 1.9 40 15 6.3 -3.3
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.9 12 43 5.5 -4.0
FEZ SPDR EURO STOXX 50 ETF 1.9 29 26 6.6 -2.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.9 70 -15 6.4 -3.1
NBCT Neuberger Berman Carbon Transition Infrastructure ETF 1.9 55 0 3.2 -6.3
VWO Vanguard FTSE Emerging Markets ETF 1.9 8 47 7.2 -2.4
VYMI Vanguard International High Dividend Yield ETF 1.8 22 33 9.8 +0.2
VPL Vanguard FTSE Pacific ETF 1.8 8 47 7.3 -2.2
SCHE Schwab Emerging Markets Equity ETF 1.8 11 44 7.3 -2.2
IDHQ Invesco S&P International Developed High Quality ETF 1.8 29 26 6.1 -3.4
OEUR ALPS O'Shares Europe Quality Dividend ETF 1.8 48 7 5.7 -3.8
GMF SPDR S&P Emerging Asia Pacific ETF 1.8 49 6 6.2 -3.3
EFG iShares MSCI EAFE Growth ETF 1.8 36 19 4.3 -5.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.8 15 40 7.4 -2.1
FICS First Trust International Developed Capital Strength ETF 1.7 70 -15 4.2 -5.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 1.7 24 31 9.0 -0.6
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 31 6.2 -3.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.7 36 19 8.0 -1.5
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.7 80 -25 9.8 +0.3
BIGFX Baron International Growth Retail 1.7 75 -20 3.2 -6.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.7 11 44 8.6 -0.9
PIO Invesco Global Water ETF 1.6 75 -20 5.2 -4.3
FCA First Trust China AlphaDEX Fund 1.6 80 -25 18.5 +9.0
FIXT Procure Disaster Recovery Strategy ETF 1.6 75 -20 6.0 -3.6
IEMG iShares Core MSCI Emerging Markets ETF 1.6 9 46 7.7 -1.9
EEM iShares MSCI Emerging Markets ETF 1.6 69 -14 7.1 -2.5
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.6 90 -35 6.9 -2.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.6 66 -11 10.3 +0.8
SCHC Schwab International Small-Cap Equity ETF 1.6 11 44 6.3 -3.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.6 29 26 8.3 -1.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.6 44 11 10.7 +1.2
DIHP Dimensional International High Profitability ETF 1.5 29 26 7.3 -2.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.5 59 -4 11.5 +2.0
WWJD Inspire International ETF 1.5 80 -25 7.1 -2.5
KDIV KraneShares S&P Pan Asia Dividend Aristocrats Index ETF 1.5 68 -13 8.3 -1.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.5 32 23 5.7 -3.8
EMGF iShares Emerging Markets Equity Factor ETF 1.5 25 30 9.0 -0.5
ISCF iShares International SmallCap Equity Factor ETF 1.5 23 32 8.9 -0.6
CID VictoryShares International High Div Volatility Wtd ETF 1.5 45 10 9.0 -0.5
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.5 75 -20 3.2 -6.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.5 30 25 7.6 -1.9
OIH VanEck Oil Services ETF 1.5 35 20 2.5 -7.0
RODE Hartford Multifactor Diversified International ETF 1.5 29 26 11.7 +2.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.5 70 -15 7.4 -2.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.5 47 8 9.2 -0.3
IQSI IQ Candriam International Equity ETF 1.4 15 40 6.4 -3.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.4 7 48 6.5 -3.1
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 1.4 18 37 7.1 -2.4
OBOR KraneShares MSCI One Belt One Road Index ETF 1.4 79 -24 10.8 +1.3
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.3 30 25 6.8 -2.7
FRNW Fidelity Clean Energy ETF 1.3 39 16 2.2 -7.3
FNDC Schwab Fundamental International Small Co. Index ETF 1.3 39 16 7.1 -2.4
WLDR Affinity World Leaders Equity ETF 1.3 67 -12 8.5 -1.1
SPEM SPDR Portfolio Emerging Markets ETF 1.3 7 48 7.5 -2.0
GNR SPDR S&P Global Natural Resources ETF 1.3 40 15 10.2 +0.7
DTCR Global X Data Center & Digital Infrastructure ETF 1.3 50 5 4.3 -5.2
EWT iShares MSCI Taiwan ETF 1.3 58 -3 5.6 -3.9
EBLU Ecofin Global Water ESG Fund 1.3 40 15 4.1 -5.5
VSGX Vanguard ESG International Stock ETF 1.3 12 43 6.6 -2.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.3 80 -25 3.4 -6.1
ESGD iShares ESG Aware MSCI EAFE ETF 1.3 20 35 6.6 -2.9
SMOG VanEck Low Carbon Energy ETF 1.3 61 -6 2.7 -6.8
EWY iShares MSCI South Korea ETF 1.3 58 -3 9.3 -0.2
EQIN Columbia US Equity Income ETF 1.2 35 20 8.3 -1.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.2 20 35 6.7 -2.8
IQDE FlexShares International Quality Dividend Defensive Index ET 1.2 47 8 14.0 +4.5
CGXU Capital Group International Focus Equity ETF 1.2 54 1 4.8 -4.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.2 41 14 7.6 -1.9
PID Invesco International Dividend Achievers ETF 1.2 53 2 6.6 -2.9
GLIN VanEck India Growth Leaders ETF 1.1 77 -22 5.6 -3.9
NTZG Nuveen Global Net Zero Transition ETF 1.1 56 -1 4.8 -4.7
FDEM Fidelity Emerging Markets Multifactor ETF 1.1 25 30 12.6 +3.1
EDEN iShares MSCI Denmark ETF 1.1 53 2 5.9 -3.6
AZTD Aztlan Global Stock Selection DM SMID ETF 1.1 75 -20 4.5 -5.0
EYLD Cambria Emerging Shareholder Yield ETF 1.1 66 -11 14.3 +4.8
DVYE iShares Emerging Markets Dividend ETF 1.1 49 6 16.0 +6.5
ECON Columbia Emerging Markets Consumer ETF 1.1 49 6 7.6 -1.9
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.1 75 -20 7.7 -1.8
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 8 12.4 +2.9
ILF iShares Latin America 40 ETF 1.0 48 7 10.9 +1.4
NDIV Amplify Natural Resources Dividend Income ETF 1.0 59 -4 9.3 -0.2
MEM Matthews Emerging Markets Equity Active ETF 1.0 79 -24 5.7 -3.8
FLTW Franklin FTSE Taiwan ETF 1.0 19 36 6.0 -3.6
FLGR Franklin FTSE Germany ETF 1.0 9 46 7.0 -2.5
NUDM Nuveen ESG International Developed Markets Equity ETF 1.0 31 24 6.4 -3.1
SCJ iShares MSCI Japan Small-Cap ETF 1.0 50 5 6.6 -3.0
XT iShares Exponential Technologies ETF 1.0 46 9 4.7 -4.8
PRAY FIS Christian Stock Fund 1.0 69 -14 5.9 -3.7
DGIN VanEck Digital India ETF 1.0 71 -16 1.1 -8.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.0 15 40 10.4 +0.9
HAP VanEck Natural Resources ETF 0.9 50 5 10.0 +0.5
EWG iShares MSCI Germany ETF 0.9 50 5 6.4 -3.1
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 9.6 +0.1
CGDG Capital Group Dividend Growers ETF 0.9 47 8 6.6 -2.9
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 0.9 58 -3 7.9 -1.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.9 30 25 8.2 -1.3
DFJ WisdomTree Japan SmallCap Dividend Fund 0.9 58 -3 7.7 -1.8
DAX Global X DAX Germany ETF 0.9 21 34 6.9 -2.6
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 13 5.1 -4.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.9 12 43 4.8 -4.8
EWX SPDR S&P Emerging Markets Small Cap ETF 0.9 65 -10 7.1 -2.4
EFRA iShares Environmental Infrastructure and Industrials ETF 0.9 47 8 4.7 -4.8
GSFP Goldman Sachs Future Planet Equity ETF 0.8 75 -20 4.3 -5.2
FLKR Franklin FTSE South Korea ETF 0.8 9 46 10.2 +0.7
EWM iShares MSCI Malaysia ETF 0.8 50 5 5.3 -4.2
EWN iShares MSCI Netherlands ETF 0.8 50 5 4.6 -4.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.8 58 -3 6.0 -3.5
DEM WisdomTree Emerging Markets High Dividend Fund 0.8 63 -8 19.0 +9.5
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.8 25 30 6.5 -3.1
AHOY Newday Ocean Health ETF 0.8 75 -20 5.7 -3.8
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 0.8 75 -20 7.2 -2.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.8 9 46 5.6 -3.9
BLES Inspire Global Hope ETF 0.8 61 -6 6.4 -3.1
VT Vanguard Total World Stock ETF 0.8 7 48 5.7 -3.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.8 33 22 8.5 -1.1
FLCH Franklin FTSE China ETF 0.7 19 36 10.2 +0.6
ACWI iShares MSCI ACWI ETF 0.7 32 23 5.4 -4.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.7 20 35 6.0 -3.5
MCHI iShares MSCI China ETF 0.7 59 -4 9.5 0.0
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.5 -4.0
GXC SPDR S&P China ETF 0.6 59 -4 9.6 +0.1
IDV iShares International Select Dividend ETF 0.6 51 4 12.0 +2.5
URTH iShares MSCI World ETF 0.6 24 31 5.3 -4.3
IXP iShares Global Comm Services ETF 0.6 42 13 5.2 -4.3
KOKU Xtrackers MSCI Kokusai Equity ETF 0.6 9 46 5.3 -4.2
XCEM Columbia EM Core ex-China ETF 0.6 16 39 7.6 -1.9
FPXI First Trust International Equity Opportunities ETF 0.6 70 -15 4.3 -5.2
DEW WisdomTree Global High Dividend Fund 0.6 58 -3 8.6 -0.9
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.6 88 -33 7.2 -2.4
NUEM Nuveen ESG Emerging Markets Equity ETF 0.6 36 19 6.7 -2.8
QWLD SPDR MSCI World StrategicFactors ETF 0.6 30 25 5.8 -3.7
EMMF WisdomTree Emerging Markets Multifactor Fund 0.6 48 7 8.7 -0.8
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.5 45 10 -0.3 -9.8
CTEC Global X CleanTech ETF 0.5 50 5 2.7 -6.8
SNSR Global X Internet of Things ETF 0.5 68 -13 4.6 -4.9
CGV Conductor Global Equity Value ETF 0.5 130 -75 11.1 +1.6
CLNR IQ Cleaner Transport ETF 0.5 45 10 6.9 -2.7
EWO iShares MSCI Austria ETF 0.5 50 5 13.3 +3.8
GLOF iShares Global Equity Factor ETF 0.5 20 35 7.2 -2.4
KNCT Invesco Next Gen Connectivity ETF 0.5 40 15 5.6 -3.9
KALL KraneShares MSCI All China Index ETF 0.5 49 6 10.6 +1.1
LDEM iShares ESG MSCI EM Leaders ETF 0.5 17 38 7.5 -2.0
TOK iShares MSCI Kokusai ETF 0.5 26 29 5.1 -4.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.5 20 35 7.0 -2.6
EPOL iShares MSCI Poland ETF 0.4 59 -4 11.5 +2.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.4 40 15 8.2 -1.3
GWX SPDR S&P International Small Cap ETF 0.4 40 15 6.4 -3.1
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.4 25 30 5.6 -3.9
WRND IQ Global Equity R&D Leaders ETF 0.3 18 37 7.5 -2.0
FLBR Franklin FTSE Brazil ETF 0.3 19 36 12.6 +3.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 0.3 60 -5 12.8 +3.3
FBZ First Trust Brazil AlphaDEX Fund 0.3 80 -25 12.9 +3.4
SDIV Global X Superdividend ETF 0.3 58 -3 14.6 +5.1
EWZ iShares MSCI Brazil ETF 0.3 58 -3 12.1 +2.6
FLAU Franklin FTSE Australia ETF 0.3 9 46 5.5 -4.1
TUR iShares MSCI Turkey ETF 0.3 58 -3 19.7 +10.2
TRFK Pacer Data and Digital Revolution ETF 0.3 60 -5 3.9 -5.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.3 80 -25 8.2 -1.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 35 5.2 -4.3
EFNL iShares MSCI Finland ETF 0.3 56 -1 7.9 -1.6
EMXF iShares ESG Advanced MSCI EM ETF 0.3 16 39 7.1 -2.5
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.3 19 36 5.4 -4.1
IDX VanEck Indonesia Index ETF 0.2 57 -2 7.5 -2.0
EIDO iShares MSCI Indonesia ETF 0.2 59 -4 6.8 -2.8
FLLA Franklin FTSE Latin America ETF 0.2 19 36 12.5 +3.0
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.9 -3.6
RAYD Rayliant Quantitative Developed Market Equity ETF 0.2 80 -25 4.0 -5.5
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 4.2 -5.3
URA Global X Uranium ETF 0.2 69 -14 3.3 -6.2
FXI iShares China Large-Cap ETF 0.2 74 -19 10.0 +0.5
ISRA VanEck Israel ETF 0.2 59 -4 8.5 -1.0
EIS iShares MSCI Israel ETF 0.2 58 -3 9.0 -0.5
KOMP SPDR S&P Kensho New Economies Composite ETF 0.2 20 35 1.1 -8.4
ACVF American Conservative Values ETF 0.2 75 -20 4.3 -5.2
FRDM Freedom 100 Emerging Markets ETF 0.1 49 6 7.1 -2.4
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.1 45 10 5.8 -3.7
ESGE iShares ESG Aware MSCI EM ETF 0.1 25 30 7.5 -2.1
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -34 4.8 -4.7
APIE ActivePassive International Equity ETF 0.1 45 10 8.1 -1.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.9 -5.6
PRNT 3D Printing ETF 0.1 66 -11 -0.2 -9.8
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 0.1 75 -20 4.3 -5.2

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:		 Global X Infrastructure Development ex-U.S. 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 12.3 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 9.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.53
 
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.