Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 5.9% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 18.8x P/Sales
ratio		 1.0x
P/BV
ratio		 1.5x Div.
yield		 2.1%


  • 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) $24,188
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 3.3 %
HOLCIM LTD-REG 3.2 %
CEMEX SAB-SPONS ADR PART CER 3.2 %
CELLNEX TELECOM S.A. 3.1 %
HEIDELBERGCEMENT AG 3.1 %
SHIN-ETSU CHEMICAL CO LTD 3.1 %
PRYSMIAN SPA 3.1 %
CANADIAN PACIFIC KANSAS CITY LTD 3.0 %
CANADIAN NATL RAILWAY CO 3.0 %
GRUPO FERROVIAL 3.0 %
Total 31.0 %

TOP COUNTRY EXPOSURE
INDIA 19.4 %
JAPAN 13.8 %
CANADA 8.1 %
SPAIN 8.0 %
FRANCE 6.7 %
ITALY 6.0 %
SOUTH KOREA 5.4 %
SWEDEN 3.8 %
LUXEMBOURG 3.6 %
CHINA 3.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
29.0% 29.0% -- -- 15.2%

Market Correlations
versus... Beta R-squared
S&P500 0.56 39%
MSCI EAFE 0.85 63%
MSCI Emg. Mkts. 0.70 49%

Technical Indicators
Recent close $30.25
30d moving avg. $28.91
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.6%
Bid/Ask (% of price) 0.45%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 396 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™: 5.9%


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
(%)
SLX VanEck Steel ETF 9.4 56 -1 11.9 +6.0
PICK iShares MSCI Global Metals & Mining Producers ETF 9.0 39 16 8.8 +2.9
NFTY First Trust India NIFTY 50 Equal Weight ETF 8.2 80 -25 4.3 -1.6
JIVE JPMorgan International Value ETF 8.2 55 0 9.7 +3.8
FEP First Trust Europe AlphaDEX Fund 7.9 80 -25 6.9 +1.0
MXI iShares Global Materials ETF 7.9 41 14 6.3 +0.4
FEUZ First Trust Eurozone AlphaDEX ETF 7.7 80 -25 6.6 +0.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.5 65 -10 9.9 +4.0
SUPL ProShares Supply Chain Logistics ETF 6.8 58 -3 9.3 +3.4
EWP iShares MSCI Spain ETF 6.8 50 5 5.9 +0.0
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.7 47 8 5.7 -0.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.5 46 9 5.5 -0.4
PIN Invesco India ETF 6.4 78 -23 4.5 -1.4
INDY iShares India 50 ETF 6.2 89 -34 4.9 -1.0
ITOL Tema International Durable Quality ETF 6.2 60 -5 4.7 -1.2
NDIA Global X India Active ETF 6.1 75 -20 4.7 -1.2
INDA iShares MSCI India ETF 6.1 65 -10 4.0 -1.9
SHPP Pacer Industrials and Logistics ETF 6.0 60 -5 7.6 +1.7
FLIN Franklin FTSE India ETF 6.0 19 36 3.6 -2.3
INEQ Columbia International Equity Income ETF 5.6 45 10 7.5 +1.6
EPI WisdomTree India Earnings Fund 5.6 85 -30 4.3 -1.6
DSTX Distillate International Fundamental Stability & Value ETF 5.5 55 0 6.8 +0.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.5 58 -3 3.8 -2.1
SRVR Pacer Data & Infrastructure Real Estate ETF 5.4 55 0 4.2 -1.7
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.3 58 -3 7.4 +1.5
IVAL Alpha Architect International Quantitative Value ETF 5.2 49 6 9.0 +3.1
IQRA IQ CBRE Real Assets ETF 5.1 65 -10 5.4 -0.5
IMOM Alpha Architect International Quantitative Momentum ETF 5.1 49 6 4.0 -1.9
AIVI WisdomTree International AI Enhanced Value Fund 4.9 58 -3 6.2 +0.3
WTRE WisdomTree New Economy Real Estate Fund 4.9 58 -3 4.9 -1.0
OSEA Harbor International Compounders ETF 4.8 55 0 4.3 -1.6
AVIV Avantis International Large Cap Value ETF 4.7 25 30 7.5 +1.6
FLCA Franklin FTSE Canada ETF 4.7 9 46 5.7 -0.3
RNEM First Trust Emerging Markets Equity Select ETF 4.5 75 -20 7.8 +1.9
FIVA Fidelity International Value Factor ETF 4.5 18 37 8.1 +2.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 4.5 24 31 6.5 +0.6
FIDI Fidelity International High Dividend ETF 4.4 18 37 7.4 +1.5
EWQ iShares MSCI France ETF 4.4 53 2 6.1 +0.2
JHMD John Hancock Multifactor Developed International ETF 4.4 39 16 6.5 +0.6
HEDJ WisdomTree Europe Hedged Equity Fund 4.4 58 -3 5.6 -0.3
BBCA JPMorgan BetaBuilders Canada ETF 4.3 19 36 5.5 -0.4
PBD Invesco Global Clean Energy ETF 4.1 75 -20 0.7 -5.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.1 80 -25 7.5 +1.6
EWI iShares MSCI Italy ETF 4.1 50 5 8.5 +2.6
OTGL OTG Latin America ETF 4.1 269 -214 7.2 +1.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 4.1 70 -15 3.3 -2.6
POW VistaShares Electrification Supercycle ETF 4.0 75 -20 3.0 -2.9
PPIE Putnam PanAgora ESG International Equity ETF 3.9 49 6 6.9 +1.0
VCLN Virtus Duff & Phelps Clean Energy ETF 3.9 59 -4 3.7 -2.2
TOLL Tema Durable Quality ETF 3.8 75 -20 4.2 -1.7
UIVM VictoryShares International Value Momentum ETF 3.8 35 20 7.6 +1.7
DFIV Dimensional International Value ETF 3.7 27 28 8.2 +2.3
NXTG First Trust Indxx NextG ETF 3.6 70 -15 4.4 -1.5
IEUS iShares MSCI Europe Small-Cap ETF 3.5 42 13 6.6 +0.7
CGIE Capital Group International Equity ETF 3.4 54 1 4.2 -1.7
AVDV Avantis International Small Cap Value ETF 3.4 36 19 7.8 +1.9
TPIF Timothy Plan International ETF 3.4 62 -7 5.4 -0.5
IQDG WisdomTree International Quality Dividend Growth Fund 3.3 42 13 6.0 +0.1
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.3 65 -10 4.0 -1.9
AVDE Avantis International Equity ETF 3.3 23 32 6.4 +0.5
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.3 58 -3 5.9 +0.0
INTF iShares International Equity Factor ETF 3.3 15 40 6.6 +0.7
DXJ WisdomTree Japan Hedged Equity Fund 3.2 48 7 6.0 +0.1
AVES Avantis Emerging Markets Value ETF 3.2 36 19 9.6 +3.7
DFEV Dimensional Emerging Markets Value ETF 3.2 43 12 10.6 +4.7
KNO AXS Knowledge Leaders ETF 3.2 78 -23 5.1 -0.8
FSZ First Trust Switzerland AlphaDEX Fund 3.2 80 -25 5.6 -0.3
FAN First Trust Global Wind Energy ETF 3.2 60 -5 3.7 -2.2
JIG JPMorgan International Growth ETF 3.2 55 0 4.0 -2.0
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.1 45 10 6.1 +0.2
EZU iShares MSCI Eurozone ETF 3.1 52 3 5.7 -0.2
JPXN iShares JPX-Nikkei 400 ETF 3.0 48 7 5.8 -0.1
ASLV Allspring Special Large Value ETF 3.0 35 20 5.8 -0.1
GKAT Scharf Global Opportunity ETF 3.0 57 -2 5.4 -0.5
FNDF Schwab Fundamental International Large Co. Index ETF 3.0 25 30 8.3 +2.4
FBOT Fidelity Disruptive Automation ETF 3.0 50 5 2.8 -3.1
SCHY Schwab International Dividend Equity ETF 3.0 14 41 8.8 +2.9
VIDI Vident International Equity Strategy ETF 2.9 61 -6 9.4 +3.5
JHID John Hancock International High Dividend ETF 2.9 46 9 8.5 +2.6
GCOW Pacer Global Cash Cows Dividend ETF 2.9 60 -5 9.8 +3.9
IVLU iShares MSCI Intl Value Factor ETF 2.9 30 25 8.8 +2.9
BKCI BNY Mellon Concentrated International ETF 2.9 80 -25 4.5 -1.4
UMMA Wahed Dow Jones Islamic World ETF 2.8 65 -10 3.9 -2.0
FLSW Franklin FTSE Switzerland ETF 2.8 9 46 5.5 -0.4
DMXF iShares ESG Advanced MSCI EAFE ETF 2.8 12 43 5.0 -0.9
EWL iShares MSCI Switzerland ETF 2.8 50 5 5.1 -0.8
EXI iShares Global Industrials ETF 2.8 42 13 3.7 -2.2
IGRO iShares International Dividend Growth ETF 2.8 15 40 6.3 +0.4
QINT American Century Quality Diversified International ETF 2.7 39 16 6.2 +0.3
EFG iShares MSCI EAFE Growth ETF 2.7 36 19 3.7 -2.3
FPXI First Trust International Equity Opportunities ETF 2.7 70 -15 3.5 -2.4
AVDS Avantis International Small Cap Equity ETF 2.7 30 25 6.0 +0.1
DXIV Dimensional International Vector Equity ETF 2.7 34 21 6.7 +0.8
TMFG Motley Fool Global Opportunities ETF 2.7 85 -30 3.5 -2.4
DFIS Dimensional International Small Cap ETF 2.7 39 16 6.3 +0.4
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -3 6.5 +0.6
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 2.6 9 46 8.3 +2.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.6 25 30 6.4 +0.5
AADR AdvisorShares Dorsey Wright ADR ETF 2.6 110 -55 4.0 -1.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 9.3 +3.4
FEM First Trust Emerging Markets AlphaDEX Fund 2.6 80 -25 10.4 +4.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.6 45 10 7.6 +1.7
JPIN J.P. Morgan Diversified Return International Equity ETF 2.6 37 18 7.3 +1.4
DFIC Dimensional International Core Equity 2 ETF 2.6 23 32 6.4 +0.5
FDEV Fidelity International Multifactor ETF 2.6 18 37 6.6 +0.7
BBJP JPMorgan BetaBuilders Japan ETF 2.5 19 36 5.9 -0.0
FJP First Trust Japan AlphaDEX Fund 2.5 80 -25 7.4 +1.5
STXI Strive International Developed Markets ETF 2.5 29 26 5.7 -0.2
SCZ iShares MSCI EAFE Small-Cap ETF 2.5 40 15 6.3 +0.4
CCNR ALPS CoreCommodity Natural Resources ETF 2.5 39 16 7.6 +1.7
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.5 25 30 5.7 -0.2
XC WisdomTree Emerging Markets Ex-China Fund 2.5 32 23 5.4 -0.5
FLJP Franklin FTSE Japan ETF 2.5 9 46 5.6 -0.3
FCA First Trust China AlphaDEX Fund 2.5 80 -25 8.7 +2.8
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 30 6.2 +0.3
OAIM OneAscent International Equity ETF 2.5 95 -40 4.6 -1.3
CIL VictoryShares International Volatility Wtd ETF 2.5 45 10 5.8 -0.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.4 39 16 5.8 -0.1
DISV Dimensional International Small Cap Value ETF 2.4 42 13 8.1 +2.2
EWJ iShares MSCI Japan ETF 2.4 50 5 5.3 -0.6
EWJV iShares MSCI Japan Value ETF 2.4 15 40 7.6 +1.7
RGEF Rockefeller Global Equity ETF 2.4 55 0 3.9 -2.0
FLJH Franklin FTSE Japan Hedged ETF 2.4 9 46 5.6 -0.3
IMFL Invesco International Developed Dynamic Multifactor ETF 2.4 34 21 5.1 -0.8
DFAI Dimensional International Core Equity Market ETF 2.4 18 37 6.1 +0.2
DTH WisdomTree International High Dividend Fund 2.4 58 -3 7.5 +1.6
SCHC Schwab International Small-Cap Equity ETF 2.4 11 44 6.8 +0.9
IEUR iShares Core MSCI Europe ETF 2.3 11 44 6.3 +0.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 25 6.7 +0.8
SPEU SPDR Portfolio Europe ETF 2.3 7 48 6.3 +0.4
DOL WisdomTree International LargeCap Dividend Fund 2.3 48 7 6.2 +0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.3 47 8 5.1 -0.8
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 31 6.3 +0.4
VGK Vanguard FTSE Europe ETF 2.3 6 49 6.4 +0.5
BKIE BNY Mellon International Equity ETF 2.3 4 51 6.1 +0.2
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.3 35 20 5.8 -0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.3 47 8 7.0 +1.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.3 14 41 5.5 -0.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.2 39 16 14.5 +8.6
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.2 80 -25 3.5 -2.4
FNDC Schwab Fundamental International Small Co. Index ETF 2.2 39 16 5.3 -0.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.2 42 13 5.6 -0.4
WWJD Inspire International ETF 2.2 80 -25 6.4 +0.5
VWID Virtus WMC International Dividend ETF 2.2 49 6 7.4 +1.5
DIVI Franklin International Core Dividend Tilt Index ETF 2.2 9 46 7.0 +1.1
EWC iShares MSCI Canada ETF 2.2 50 5 5.2 -0.7
AVSD Avantis Responsible International Equity ETF 2.2 23 32 4.7 -1.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.2 40 15 6.5 +0.6
IEV iShares Europe ETF 2.2 67 -12 5.8 -0.1
FLKR Franklin FTSE South Korea ETF 2.2 9 46 5.8 -0.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 6 6.2 +0.3
SPDW SPDR Portfolio Developed World ex-US ETF 2.1 3 52 6.1 +0.2
GLIN VanEck India Growth Leaders ETF 2.1 77 -22 4.8 -1.1
DWM WisdomTree International Equity Fund 2.1 48 7 6.4 +0.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.1 33 22 6.9 +1.0
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.2 +0.3
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.3 +0.4
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.1 20 35 5.5 -0.4
ECON Columbia Emerging Markets Consumer ETF 2.1 49 6 10.0 +4.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.1 46 9 5.9 +0.0
VEA Vanguard FTSE Developed Markets ETF 2.1 3 52 6.2 +0.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.1 24 31 6.4 +0.5
IDEV iShares Core MSCI International Developed Markets ETF 2.1 4 51 6.1 +0.2
IEFA iShares Core MSCI EAFE ETF 2.1 7 48 6.1 +0.2
BKF iShares MSCI BIC ETF 2.1 69 -14 11.7 +5.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 6.2 +0.3
DGT State Street SPDR Global Dow ETF 2.0 50 5 6.0 +0.1
LVHI Franklin International Low Volatility High Dividend Index ET 2.0 40 15 9.3 +3.4
ARKX ARK Space Exploration & Innovation ETF 2.0 75 -20 0.1 -5.8
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 13.6 +7.7
FICS First Trust International Developed Capital Strength ETF 2.0 70 -15 6.4 +0.5
EWD iShares MSCI Sweden ETF 2.0 54 1 4.6 -1.3
IDOG ALPS International Sector Dividend Dogs ETF 2.0 50 5 10.6 +4.7
SCHF Schwab International Equity ETF 2.0 6 49 6.2 +0.3
BINV Brandes International ETF 2.0 70 -15 8.3 +2.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.0 18 37 6.5 +0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.0 41 14 6.5 +0.6
EFA iShares MSCI EAFE ETF 2.0 35 20 5.8 -0.1
XCNY SPDR S&P Emerging Markets ex-China ETF 2.0 15 40 6.3 +0.4
HFXI IQ FTSE International Equity Currency Neutral ETF 2.0 20 35 6.0 +0.1
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.0 48 7 4.7 -1.2
IBAT iShares Energy Storage & Materials ETF 2.0 47 8 2.5 -3.4
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.0 12 43 5.2 -0.7
EUDG WisdomTree Europe Quality Dividend Growth Fund 2.0 58 -3 5.8 -0.1
ICPY Tweedy, Browne International Insider Value ETF 1.9 80 -25 10.1 +4.2
AVEM Avantis Emerging Markets Equity ETF 1.9 33 22 7.3 +1.4
GSID Goldman Sachs MarketBeta International Equity ETF 1.9 20 35 5.9 -0.0
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.9 53 2 6.1 +0.2
NETZ TCW Transform Systems ETF 1.9 75 -20 2.0 -3.9
VXUS Vanguard Total International Stock ETF 1.9 5 50 6.8 +0.9
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.9 35 20 11.8 +5.9
VEU Vanguard FTSE All-World ex-US Index Fund 1.9 4 51 6.9 +1.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 6.8 +0.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 36 19 5.9 -0.0
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 6.8 +0.9
DIHP Dimensional International High Profitability ETF 1.9 29 26 5.8 -0.1
ISCF iShares International SmallCap Equity Factor ETF 1.8 23 32 7.5 +1.6
SMIN iShares MSCI India Small Cap ETF 1.8 79 -24 3.3 -2.6
ACWX iShares MSCI ACWI ex U.S. ETF 1.8 34 21 6.5 +0.6
FDCF Fidelity Disruptive Communications ETF 1.8 50 5 3.2 -2.7
XCEM Columbia EM Core ex-China ETF 1.8 16 39 6.5 +0.6
IMTM iShares MSCI Intl Momentum Factor ETF 1.8 30 25 4.7 -1.2
EWY iShares MSCI South Korea ETF 1.8 58 -3 5.0 -0.9
JHEM John Hancock Multifactor Emerging Markets ETF 1.8 49 6 8.2 +2.3
EWG iShares MSCI Germany ETF 1.8 50 5 5.8 -0.1
VPL Vanguard FTSE Pacific ETF 1.8 7 48 5.8 -0.1
RFEU First Trust Riverfront Dynamic Europe ETF 1.8 83 -28 8.8 +2.9
DFAE Dimensional Emerging Core Equity Market ETF 1.8 35 20 7.4 +1.5
EMXC iShares MSCI Emerging Markets ex China ETF 1.8 25 30 5.8 -0.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.8 32 23 5.3 -0.6
PATN Pacer Nasdaq International Patent Leaders ETF 1.7 65 -10 4.6 -1.3
EEMA iShares MSCI Emerging Markets Asia ETF 1.7 49 6 7.9 +2.0
STXE Strive Emerging Markets Ex-China ETF 1.7 32 23 6.2 +0.3
NUDM Nuveen ESG International Developed Markets Equity ETF 1.7 31 24 5.8 -0.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.7 32 23 7.0 +1.1
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 31 5.5 -0.4
SCJ iShares MSCI Japan Small-Cap ETF 1.7 50 5 6.1 +0.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 8 47 6.5 +0.6
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 25 6.5 +0.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 17 7.5 +1.6
PID Invesco International Dividend Achievers ETF 1.7 53 2 4.9 -1.1
FLAX Franklin FTSE Asia Ex Japan ETF 1.7 19 36 7.4 +1.5
DLS WisdomTree International SmallCap Dividend Fund 1.7 58 -3 7.3 +1.4
FEZ SPDR EURO STOXX 50 ETF 1.7 29 26 5.6 -0.3
IPAC iShares Core MSCI Pacific ETF 1.7 9 46 5.7 -0.2
FLGR Franklin FTSE Germany ETF 1.7 9 46 6.5 +0.6
IQLT iShares MSCI Intl Quality Factor ETF 1.7 30 25 5.4 -0.5
SAGP Strategas Global Policy Opportunities ETF 1.7 65 -10 4.7 -1.2
COPY Tweedy, Browne Insider + Value ETF 1.7 80 -25 10.4 +4.5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.7 58 -3 8.6 +2.7
JPEF JPMorgan Equity Focus ETF 1.7 50 5 3.8 -2.1
FGM First Trust Germany AlphaDEX Fund 1.6 80 -25 5.9 -0.0
DAX Global X DAX Germany ETF 1.6 21 34 6.3 +0.4
VYMI Vanguard International High Dividend Yield ETF 1.6 17 38 8.3 +2.4
IDMO Invesco S&P International Developed Momentum ETF 1.6 25 30 5.1 -0.8
FYLD Cambria Foreign Shareholder Yield ETF 1.6 59 -4 10.5 +4.6
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.5 -0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.5 70 -15 7.2 +1.3
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.5 80 -25 9.6 +3.7
BKEM BNY Mellon Emerging Markets Equity ETF 1.5 11 44 8.0 +2.1
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.5 15 40 8.4 +2.5
OBOR KraneShares MSCI One Belt One Road Index ETF 1.5 79 -24 7.2 +1.3
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.4 75 -20 8.4 +2.5
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.4 30 25 6.1 +0.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.4 36 19 8.0 +2.1
SCHE Schwab Emerging Markets Equity ETF 1.4 11 44 9.5 +3.6
DVYE iShares Emerging Markets Dividend ETF 1.4 49 6 17.0 +11.1
NUKZ Range Nuclear Renaissance Index ETF 1.4 85 -30 1.0 -4.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.4 66 -11 7.7 +1.8
IQSI IQ Candriam International Equity ETF 1.4 15 40 5.7 -0.3
DEHP Dimensional Emerging Markets High Profitability ETF 1.4 41 14 5.2 -0.7
EEM iShares MSCI Emerging Markets ETF 1.4 69 -14 8.1 +2.2
IEMG iShares Core MSCI Emerging Markets ETF 1.4 9 46 8.5 +2.6
VWO Vanguard FTSE Emerging Markets ETF 1.3 7 48 9.1 +3.2
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 8.4 +2.5
FPAG FPA Global Equity ETF 1.3 49 6 5.0 -0.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.3 80 -25 5.5 -0.4
FDD First Trust Stoxx European Select Dividend Index Fund 1.3 58 -3 9.7 +3.8
VIGI Vanguard International Dividend Appreciation ETF 1.3 10 45 5.7 -0.2
EFV iShares MSCI EAFE Value ETF 1.3 34 21 7.8 +1.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.3 45 10 8.4 +2.5
CZAR Themes Natural Monopoly ETF 1.3 35 20 4.9 -1.0
DTCR Global X Data Center & Digital Infrastructure ETF 1.3 50 5 3.2 -2.7
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -33 7.5 +1.6
EDEN iShares MSCI Denmark ETF 1.3 53 2 5.5 -0.4
ESGD iShares ESG Aware MSCI EAFE ETF 1.3 20 35 5.8 -0.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 26 6.9 +1.0
FENI Fidelity Enhanced International ETF 1.2 28 27 5.6 -0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.2 44 11 9.5 +3.6
GNR SPDR S&P Global Natural Resources ETF 1.2 40 15 9.3 +3.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.2 70 -15 6.9 +1.0
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 8 7.7 +1.8
EWUS iShares MSCI United Kingdom Small Cap ETF 1.2 59 -4 7.0 +1.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.2 30 25 8.1 +2.2
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 11 10.4 +4.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 -4 7.6 +1.7
BLES Inspire Global Hope ETF 1.1 61 -6 6.1 +0.2
DGIN VanEck Digital India ETF 1.1 71 -16 1.2 -4.7
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 9.3 +3.4
EMGF iShares Emerging Markets Equity Factor ETF 1.1 25 30 9.5 +3.6
CGDG Capital Group Dividend Growers ETF 1.0 47 8 5.4 -0.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 10 9.5 +3.6
GEW Cambria Global EW ETF 1.0 29 26 5.3 -0.6
EWT iShares MSCI Taiwan ETF 1.0 58 -3 5.0 -0.9
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.0 70 -15 11.9 +6.0
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 20 3.6 -2.3
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 1.0 75 -20 6.7 +0.8
SMOG VanEck Low Carbon Energy ETF 1.0 61 -6 1.5 -4.5
FRNW Fidelity Clean Energy ETF 1.0 39 16 2.1 -3.8
EWM iShares MSCI Malaysia ETF 1.0 50 5 5.9 -0.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.0 90 -35 4.5 -1.4
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.0 75 -20 2.3 -3.6
LDEM iShares ESG MSCI EM Leaders ETF 0.9 17 38 11.4 +5.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.9 29 26 8.1 +2.2
DFE WisdomTree Europe SmallCap Dividend Fund 0.9 58 -3 7.3 +1.4
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 8.1 +2.2
MJSC MUFG Japan Small Cap Active ETF 0.9 85 -30 5.3 -0.6
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 13 4.7 -1.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.9 50 5 5.4 -0.5
EUDV ProShares MSCI Europe Dividend Growers ETF 0.9 55 0 5.4 -0.5
ILF iShares Latin America 40 ETF 0.9 48 7 10.7 +4.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.9 41 14 7.1 +1.2
GVAL Cambria Global Value ETF 0.8 68 -13 9.4 +3.5
EWO iShares MSCI Austria ETF 0.8 50 5 7.9 +2.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 7.6 +1.7
DFJ WisdomTree Japan SmallCap Dividend Fund 0.8 58 -3 6.6 +0.7
CVAR Cultivar ETF 0.8 87 -32 6.8 +0.9
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 13 8.6 +2.7
CGXU Capital Group International Focus Equity ETF 0.8 54 1 4.7 -1.2
DEW WisdomTree Global High Dividend Fund 0.8 58 -3 7.7 +1.8
HAP VanEck Natural Resources ETF 0.8 50 5 8.0 +2.1
FLAU Franklin FTSE Australia ETF 0.7 9 46 6.0 +0.1
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 35 5.6 -0.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 46 4.9 -1.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 43 4.3 -1.6
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -5 3.3 -2.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.7 80 -25 8.6 +2.7
VT Vanguard Total World Stock ETF 0.7 6 49 5.1 -0.8
VSGX Vanguard ESG International Stock ETF 0.7 10 45 6.7 +0.8
GLOF iShares Global Equity Factor ETF 0.7 20 35 5.9 -0.0
WRND IQ Global Equity R&D Leaders ETF 0.7 18 37 6.6 +0.7
ACWI iShares MSCI ACWI ETF 0.7 32 23 4.7 -1.2
ISRA VanEck Israel ETF 0.7 59 -4 5.8 -0.1
EIS iShares MSCI Israel ETF 0.7 58 -3 6.2 +0.3
FDEM Fidelity Emerging Markets Multifactor ETF 0.7 25 30 10.8 +4.9
FLTW Franklin FTSE Taiwan ETF 0.6 19 36 5.1 -0.8
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.6 45 10 1.6 -4.3
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 5.4 -0.5
EYLD Cambria Emerging Shareholder Yield ETF 0.6 66 -11 10.8 +4.9
CGV Conductor Global Equity Value ETF 0.6 130 -75 7.0 +1.1
CGW Invesco S&P Global Water Index ETF 0.6 57 -2 4.3 -1.6
EWN iShares MSCI Netherlands ETF 0.6 50 5 4.7 -1.2
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 4.9 -1.0
URTH iShares MSCI World ETF 0.6 24 31 4.4 -1.5
ACWV iShares MSCI Global Min Vol Factor ETF 0.6 20 35 5.4 -0.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.6 15 40 6.6 +0.7
DEM WisdomTree Emerging Markets High Dividend Fund 0.6 63 -8 12.0 +6.1
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 36 19 6.6 +0.7
QWLD SPDR MSCI World StrategicFactors ETF 0.5 30 25 5.1 -0.8
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.5 -1.4
OCEN IQ Clean Oceans ETF 0.5 45 10 5.0 -0.9
CLNR IQ Cleaner Transport ETF 0.5 45 10 4.9 -1.0
JGLO JPMorgan Global Select Equity ETF 0.5 33 22 4.3 -1.6
EMXF iShares ESG Advanced MSCI EM ETF 0.5 16 39 7.1 +1.2
TOK iShares MSCI Kokusai ETF 0.5 26 29 4.3 -1.6
GWX SPDR S&P International Small Cap ETF 0.4 40 15 6.0 +0.1
DWMF WisdomTree International Multifactor Fund 0.4 38 17 6.4 +0.5
JADE JPMorgan Active Developing Markets Equity ETF 0.4 65 -10 6.5 +0.6
EPOL iShares MSCI Poland ETF 0.4 59 -4 9.6 +3.7
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 6 4.7 -1.2
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.4 80 -25 12.9 +7.0
IXP iShares Global Comm Services ETF 0.4 42 13 5.3 -0.7
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -10 3.5 -2.5
GXC SPDR S & P China ETF 0.4 59 -4 14.5 +8.6
FLCH Franklin FTSE China ETF 0.4 19 36 14.1 +8.2
GREK Global X MSCI Greece ETF 0.4 57 -2 9.7 +3.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 22 8.1 +2.2
AVSE Avantis Responsible Emerging Markets Equity ETF 0.4 33 22 7.0 +1.1
EDIV SPDR S&P Emerging Markets Dividend ETF 0.4 49 6 8.7 +2.8
APIE ActivePassive International Equity ETF 0.4 45 10 6.4 +0.5
WLDR Affinity World Leaders Equity ETF 0.4 67 -12 6.4 +0.5
EFNL iShares MSCI Finland ETF 0.4 56 -1 5.9 -0.0
DTAN Sparkline International Intangible Value ETF 0.4 55 0 7.3 +1.4
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.4 19 36 5.1 -0.8
AFK VanEck Africa Index ETF 0.3 98 -43 10.9 +5.0
FID First Trust S&P International Dividend Aristocrats ETF 0.3 60 -5 7.3 +1.4
WDIV SPDR S&P Global Dividend ETF 0.3 40 15 8.4 +2.5
MCHI iShares MSCI China ETF 0.3 59 -4 15.3 +9.4
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.3 25 30 5.4 -0.5
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 10.5 +4.6
ESGE iShares ESG Aware MSCI EM ETF 0.3 25 30 8.5 +2.6
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 4.0 -2.0
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.3 20 35 2.6 -3.3
ECNS iShares MSCI China Small-Cap ETF 0.2 59 -4 9.2 +3.3
IPKW Invesco International BuyBack Achievers ETF 0.2 55 0 7.9 +2.0
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 1.5 -4.4
URA Global X Uranium ETF 0.2 69 -14 0.9 -5.0
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 26 7.0 +1.1
FRDM Freedom 100 Emerging Markets ETF 0.2 49 6 6.0 +0.1
EMMF WisdomTree Emerging Markets Multifactor Fund 0.2 48 7 6.1 +0.2
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.6 -0.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 4.8 -1.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 -10 7.2 +1.3
FLBR Franklin FTSE Brazil ETF 0.2 19 36 13.7 +7.8
EWZS iShares MSCI Brazil Small-Cap ETF 0.2 59 -4 11.2 +5.3
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 4.3 -1.6
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 2.6 -3.3
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.1 -1.8
FLLA Franklin FTSE Latin America ETF 0.1 19 36 11.8 +5.9
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 5.9 +0.0
PRNT 3D Printing ETF 0.1 66 -11 1.6 -4.3
ACVF American Conservative Values ETF 0.1 75 -20 3.6 -2.3
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.1 -2.8
IUS Invesco RAFI Strategic US ETF 0.1 19 36 6.0 +0.1
TUR iShares MSCI Turkey ETF 0.1 58 -3 12.2 +6.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.1 40 15 6.1 +0.2

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

  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 9.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 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.