Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 6.2% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 19.6x P/Sales
ratio		 1.0x
P/BV
ratio		 1.5x Div.
yield		 2.0%


  • 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 3.7 %
CANADIAN NATL RAILWAY CO 3.4 %
CANADIAN PACIFIC KANSAS CITY LTD 3.3 %
FUJIKURA LTD 3.3 %
LARSEN & TOUBRO LIMITED 3.2 %
NIPPON STEEL CORP 3.1 %
HOLCIM LTD-REG 3.0 %
HEIDELBERGCEMENT AG 3.0 %
VINCI SA 2.9 %
GRUPO FERROVIAL 2.7 %
Total 31.6 %

TOP COUNTRY EXPOSURE
INDIA 19.7 %
JAPAN 13.9 %
SOUTH KOREA 8.6 %
CANADA 8.3 %
SPAIN 6.4 %
FRANCE 5.9 %
ITALY 4.8 %
LUXEMBOURG 3.9 %
BRAZIL 3.4 %
SWITZERLAND 2.8 %

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.
9.7% 17.6% -- -- 15.1%

Market Correlations
versus... Beta R-squared
S&P500 1.11 59%
MSCI EAFE 1.06 79%
MSCI Emg. Mkts. 0.63 70%

Technical Indicators
Recent close $30.98
30d moving avg. $31.69
Annualized volatility 10.3%
Short interest (ETF) 12.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.6%
Bid/Ask (% of price) 0.37%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 418 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™: 6.2%


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
(%)
NFTY First Trust India NIFTY 50 Equal Weight ETF 9.8 80 -25 5.2 -1.0
PICK iShares MSCI Global Metals & Mining Producers ETF 9.3 39 16 8.3 +2.1
INDY iShares India 50 ETF 8.3 89 -34 5.6 -0.6
INDA iShares MSCI India ETF 7.6 65 -10 4.8 -1.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.5 47 8 5.2 -0.9
SUPL ProShares Supply Chain Logistics ETF 7.4 58 -3 8.1 +1.9
EPI WisdomTree India Earnings Fund 7.0 85 -30 5.4 -0.8
MXI iShares Global Materials ETF 7.0 41 14 6.1 -0.1
FEUZ First Trust Eurozone AlphaDEX ETF 6.9 80 -25 6.8 +0.6
FLIN Franklin FTSE India ETF 6.7 19 36 4.3 -1.9
SHPP Pacer Industrials and Logistics ETF 6.7 60 -5 6.9 +0.7
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.5 46 9 5.6 -0.5
POW VistaShares Electrification Supercycle ETF 6.5 75 -20 2.4 -3.7
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 6.2 58 -3 3.7 -2.5
FEP First Trust Europe AlphaDEX Fund 6.2 80 -25 7.0 +0.8
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 6.1 80 -25 3.8 -2.4
NDIA Global X India Active ETF 5.9 75 -20 5.3 -0.8
AIVI WisdomTree International AI Enhanced Value Fund 5.7 58 -3 6.1 -0.1
INEQ Columbia International Equity Income ETF 5.6 45 10 7.8 +1.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.2 58 -3 9.2 +3.0
EWP iShares MSCI Spain ETF 5.2 50 5 5.7 -0.4
RNEM First Trust Emerging Markets Equity Select ETF 4.9 75 -20 8.1 +2.0
FLCA Franklin FTSE Canada ETF 4.9 9 46 5.5 -0.7
FIVA Fidelity International Value Factor ETF 4.8 18 37 7.3 +1.1
EWQ iShares MSCI France ETF 4.8 53 2 6.9 +0.8
BBCA JPMorgan BetaBuilders Canada ETF 4.7 19 36 5.4 -0.8
SRVR Pacer Data & Infrastructure Real Estate ETF 4.6 55 0 4.6 -1.6
AVIV Avantis International Large Cap Value ETF 4.6 25 30 6.9 +0.7
OSEA Harbor International Compounders ETF 4.6 55 0 4.5 -1.6
JHMD John Hancock Multifactor Developed International ETF 4.5 39 16 6.2 +0.1
HEDJ WisdomTree Europe Hedged Equity Fund 4.5 58 -3 6.1 -0.1
DSTX Distillate International Fundamental Stability & Value ETF 4.3 55 0 6.6 +0.4
PIN Invesco India ETF 4.1 78 -23 5.5 -0.7
TNUK Tortoise Nuclear Renaissance ETF 4.1 75 -20 1.0 -5.2
NXTG First Trust Indxx NextG ETF 4.0 70 -15 3.4 -2.7
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.0 80 -25 6.8 +0.7
PBD Invesco Global Clean Energy ETF 4.0 75 -20 0.4 -5.8
IEUS iShares MSCI Europe Small-Cap ETF 3.8 42 13 6.9 +0.7
IQDG WisdomTree International Quality Dividend Growth Fund 3.8 42 13 5.8 -0.3
XC WisdomTree Emerging Markets Ex-China Fund 3.7 32 23 6.7 +0.5
UIVM VictoryShares International Value Momentum ETF 3.7 35 20 7.9 +1.8
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.7 58 -3 5.4 -0.8
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 3.6 24 31 7.0 +0.8
TPIF Timothy Plan International ETF 3.6 62 -7 5.6 -0.5
OTGL OTG Latin America ETF 3.5 269 -214 7.9 +1.7
AVDE Avantis International Equity ETF 3.5 23 32 6.2 +0.0
ASLV Allspring Special Large Value ETF 3.3 35 20 5.2 -1.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.3 42 13 4.2 -2.0
SAGP Strategas Global Policy Opportunities ETF 3.3 65 -10 5.0 -1.2
VCLN Virtus Duff & Phelps Clean Energy ETF 3.3 59 -4 2.8 -3.3
WTRE WisdomTree New Economy Real Estate Fund 3.3 58 -3 -0.3 -6.5
FLKR Franklin FTSE South Korea ETF 3.2 9 46 4.1 -2.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.2 65 -10 8.2 +2.0
TOLL Tema Durable Quality ETF 3.2 75 -20 3.8 -2.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.2 45 10 5.5 -0.7
JPXN iShares JPX-Nikkei 400 ETF 3.2 48 7 5.2 -1.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.2 39 16 6.2 +0.1
DFIV Dimensional International Value ETF 3.1 27 28 7.7 +1.5
ILF iShares Latin America 40 ETF 3.1 48 7 9.8 +3.6
EWI iShares MSCI Italy ETF 3.1 50 5 11.5 +5.3
EXI iShares Global Industrials ETF 3.1 42 13 3.8 -2.4
SCZ iShares MSCI EAFE Small-Cap ETF 3.0 40 15 6.1 -0.0
BBJP JPMorgan BetaBuilders Japan ETF 3.0 19 36 5.1 -1.1
SCHY Schwab International Dividend Equity ETF 2.9 14 41 8.6 +2.4
IMFL Invesco International Developed Dynamic Multifactor ETF 2.9 34 21 5.3 -0.9
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.9 24 31 5.1 -1.1
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.9 25 30 5.2 -1.0
EWY iShares MSCI South Korea ETF 2.9 58 -3 3.3 -2.9
FLJP Franklin FTSE Japan ETF 2.9 9 46 5.2 -1.0
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 2.8 80 -25 7.3 +1.2
DXJ WisdomTree Japan Hedged Equity Fund 2.8 48 7 5.1 -1.1
FNDF Schwab Fundamental International Large Co. Index ETF 2.8 25 30 7.3 +1.1
TMFG Motley Fool Global Opportunities ETF 2.8 85 -30 4.0 -2.2
BKF iShares MSCI BIC ETF 2.8 69 -14 15.4 +9.2
HEZU iShares Currency Hedged MSCI Eurozone ETF 2.8 53 2 5.4 -0.7
FLJH Franklin FTSE Japan Hedged ETF 2.8 9 46 4.9 -1.3
EZU iShares MSCI Eurozone ETF 2.8 52 3 5.7 -0.4
FRGN Horizon International Equity ETF 2.8 75 -20 7.8 +1.7
FAN First Trust Global Wind Energy ETF 2.8 60 -5 3.2 -3.0
EMMF WisdomTree Emerging Markets Multifactor Fund 2.8 48 7 8.5 +2.3
EFG iShares MSCI EAFE Growth ETF 2.8 36 19 3.9 -2.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.7 45 10 6.7 +0.6
DFEV Dimensional Emerging Markets Value ETF 2.7 43 12 9.2 +3.1
AVDV Avantis International Small Cap Value ETF 2.7 36 19 7.5 +1.4
QQLV Invesco QQQ Low Volatility ETF 2.7 25 30 4.4 -1.7
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.7 47 8 4.5 -1.7
STXI Strive International Developed Markets ETF 2.6 29 26 6.4 +0.2
BKCI BNY Mellon Concentrated International ETF 2.6 80 -25 5.1 -1.1
DIM WisdomTree International MidCap Dividend Fund 2.6 58 -3 6.3 +0.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 2.6 29 26 7.0 +0.9
DWMF WisdomTree International Multifactor Fund 2.6 38 17 6.9 +0.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 8.1 +1.9
WWJD Inspire International ETF 2.6 80 -25 6.3 +0.2
DFIS Dimensional International Small Cap ETF 2.6 39 16 6.1 -0.0
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 2.6 79 -24 3.8 -2.4
FLSW Franklin FTSE Switzerland ETF 2.6 9 46 6.0 -0.2
FJP First Trust Japan AlphaDEX Fund 2.5 80 -25 7.3 +1.2
FIDI Fidelity International High Dividend ETF 2.5 18 37 7.2 +1.1
AADR AdvisorShares Dorsey Wright ADR ETF 2.5 110 -55 3.3 -2.9
RAYJ Rayliant SMDAM Japan Equity ETF 2.5 72 -17 3.2 -3.0
EWL iShares MSCI Switzerland ETF 2.5 50 5 5.8 -0.3
IDOG ALPS International Sector Dividend Dogs ETF 2.5 50 5 9.3 +3.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.5 32 23 4.7 -1.5
FGM First Trust Germany AlphaDEX Fund 2.5 80 -25 5.4 -0.8
UMMA Wahed Dow Jones Islamic World ETF 2.5 65 -10 3.6 -2.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.5 25 30 6.4 +0.2
HEWJ iShares Currency Hedged MSCI Japan ETF 2.4 50 5 5.2 -1.0
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.4 65 -10 4.2 -1.9
DXIV Dimensional International Vector Equity ETF 2.4 34 21 6.5 +0.4
DFIC Dimensional International Core Equity 2 ETF 2.4 23 32 6.3 +0.1
BRAZ Global X Brazil Active ETF 2.4 75 -20 10.1 +4.0
EWZ iShares MSCI Brazil ETF 2.4 58 -3 10.5 +4.4
FLBR Franklin FTSE Brazil ETF 2.4 19 36 11.7 +5.5
DFAI Dimensional International Core Equity Market ETF 2.4 18 37 6.1 -0.1
GLIN VanEck India Growth Leaders ETF 2.4 77 -22 5.8 -0.4
INTF iShares International Equity Factor ETF 2.4 15 40 6.5 +0.3
IDMO Invesco S&P International Developed Momentum ETF 2.4 25 30 5.1 -1.0
JPIN J.P. Morgan Diversified Return International Equity ETF 2.4 37 18 7.1 +0.9
EWJ iShares MSCI Japan ETF 2.4 50 5 4.7 -1.5
AVES Avantis Emerging Markets Value ETF 2.4 36 19 9.1 +2.9
BKIE BNY Mellon International Equity ETF 2.4 4 51 17.9 +11.8
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.4 48 7 4.8 -1.4
EMDM First Trust Bloomberg Emerging Market Democracies ETF 2.4 75 -20 6.2 +0.1
URA Global X Uranium ETF 2.3 69 -14 1.1 -5.1
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.3 60 -5 6.8 +0.6
JHEM John Hancock Multifactor Emerging Markets ETF 2.3 49 6 7.5 +1.3
EWC iShares MSCI Canada ETF 2.3 50 5 5.1 -1.1
IVAL Alpha Architect International Quantitative Value ETF 2.3 49 6 7.5 +1.3
IGRO iShares International Dividend Growth ETF 2.3 15 40 6.7 +0.6
ECON Columbia Emerging Markets Consumer ETF 2.2 49 6 6.4 +0.3
EEMO Invesco S&P Emerging Markets Momentum ETF 2.2 29 26 6.4 +0.2
STXE Strive Emerging Markets Ex-China ETF 2.2 32 23 5.1 -1.1
XCEM Columbia EM Core ex-China ETF 2.2 16 39 4.8 -1.3
AVDS Avantis International Small Cap Equity ETF 2.2 30 25 5.9 -0.2
DTH WisdomTree International High Dividend Fund 2.2 58 -3 7.2 +1.0
PXH Invesco FTSE RAFI Emerging Markets ETF 2.2 49 6 13.3 +7.1
CCNR ALPS CoreCommodity Natural Resources ETF 2.2 39 16 8.2 +2.1
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.2 33 22 6.0 -0.2
VEXC Vanguard Emerging Markets Ex-China ETF 2.2 7 48 5.6 -0.5
SCJ iShares MSCI Japan Small-Cap ETF 2.2 50 5 5.4 -0.8
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.2 18 37 6.4 +0.2
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.4 +0.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 6.2 0.0
FEM First Trust Emerging Markets AlphaDEX Fund 2.1 80 -25 8.8 +2.6
DOL WisdomTree International LargeCap Dividend Fund 2.1 48 7 5.5 -0.6
SPEU SPDR Portfolio Europe ETF 2.1 7 48 6.6 +0.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.1 35 20 5.6 -0.5
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.3 +0.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.1 32 23 7.5 +1.4
FPAG FPA Global Equity ETF 2.1 49 6 5.7 -0.5
SCHC Schwab International Small-Cap Equity ETF 2.1 11 44 6.6 +0.4
HFXI IQ FTSE International Equity Currency Neutral ETF 2.1 20 35 5.6 -0.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.1 30 25 6.4 +0.2
IVLU iShares MSCI Intl Value Factor ETF 2.1 30 25 7.9 +1.8
VGK Vanguard FTSE Europe ETF 2.1 6 49 6.7 +0.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 15 5.7 -0.5
JIG JPMorgan International Growth ETF 2.1 55 0 3.6 -2.5
AVEM Avantis Emerging Markets Equity ETF 2.1 33 22 7.0 +0.8
SPDW SPDR Portfolio Developed World ex-US ETF 2.0 3 52 5.8 -0.4
IMTM iShares MSCI Intl Momentum Factor ETF 2.0 30 25 4.7 -1.5
SCHF Schwab International Equity ETF 2.0 6 49 5.9 -0.3
DISV Dimensional International Small Cap Value ETF 2.0 42 13 7.9 +1.7
VEA Vanguard FTSE Developed Markets ETF 2.0 3 52 5.9 -0.2
IEUR iShares Core MSCI Europe ETF 2.0 11 44 6.5 +0.3
FTHF First Trust Emerging Markets Human Flourishing ETF 2.0 75 -20 5.5 -0.7
DWM WisdomTree International Equity Fund 2.0 48 7 5.6 -0.5
GSID Goldman Sachs MarketBeta International Equity ETF 2.0 20 35 5.9 -0.3
FRNW Fidelity Clean Energy ETF 2.0 39 16 2.2 -4.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.0 14 41 5.3 -0.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.0 47 8 7.2 +1.1
QINT American Century Quality Diversified International ETF 2.0 39 16 6.6 +0.4
XCNY SPDR S&P Emerging Markets ex-China ETF 2.0 15 40 5.6 -0.6
AVSD Avantis Responsible International Equity ETF 2.0 23 32 6.0 -0.2
VPL Vanguard FTSE Pacific ETF 2.0 7 48 5.1 -1.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.0 39 16 13.3 +7.2
IDEV iShares Core MSCI International Developed Markets ETF 2.0 4 51 6.0 -0.2
EMXC iShares MSCI Emerging Markets ex China ETF 1.9 25 30 5.0 -1.2
JPEF JPMorgan Equity Focus ETF 1.9 50 5 3.8 -2.3
IEV iShares Europe ETF 1.9 67 -12 6.0 -0.2
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.9 70 -15 4.2 -1.9
VEU Vanguard FTSE All-World ex-US Index Fund 1.9 4 51 6.7 +0.5
IEFA iShares Core MSCI EAFE ETF 1.9 7 48 6.1 -0.1
VXUS Vanguard Total International Stock ETF 1.9 5 50 6.6 +0.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 6.9 +0.8
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.9 46 9 5.4 -0.8
FDEV Fidelity International Multifactor ETF 1.9 18 37 7.2 +1.1
JHID John Hancock International High Dividend ETF 1.9 46 9 7.9 +1.7
DIHP Dimensional International High Profitability ETF 1.9 29 26 5.9 -0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.9 41 14 5.9 -0.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.9 58 -3 6.6 +0.4
DFAE Dimensional Emerging Core Equity Market ETF 1.9 35 20 7.0 +0.8
EEMA iShares MSCI Emerging Markets Asia ETF 1.9 49 6 7.4 +1.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 36 19 5.2 -1.0
DEHP Dimensional Emerging Markets High Profitability ETF 1.8 41 14 4.8 -1.3
IDHQ Invesco S&P International Developed High Quality ETF 1.8 29 26 5.1 -1.1
IXUS iShares Core MSCI Total International Stock ETF 1.8 7 48 6.6 +0.4
IPAC iShares Core MSCI Pacific ETF 1.8 9 46 5.3 -0.8
FNDC Schwab Fundamental International Small Co. Index ETF 1.8 39 16 6.7 +0.6
CGXU Capital Group International Focus Equity ETF 1.8 54 1 3.8 -2.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.8 15 40 8.0 +1.8
FLAX Franklin FTSE Asia Ex Japan ETF 1.8 19 36 7.0 +0.9
VIDI Vident International Equity Strategy ETF 1.8 61 -6 8.2 +2.0
EMGF iShares Emerging Markets Equity Factor ETF 1.8 25 30 8.8 +2.6
JIRE JPMorgan International Research Enhanced Equity ETF 1.8 24 31 5.8 -0.4
BKEM BNY Mellon Emerging Markets Equity ETF 1.8 11 44 24.1 +18.0
EWN iShares MSCI Netherlands ETF 1.8 50 5 4.5 -1.6
IBAT iShares Energy Storage & Materials ETF 1.7 47 8 1.7 -4.5
DGT State Street SPDR Global Dow ETF 1.7 50 5 5.7 -0.5
ACWX iShares MSCI ACWI ex U.S. ETF 1.7 34 21 6.3 +0.2
HEFA iShares Currency Hedged MSCI EAFE ETF 1.7 35 20 5.7 -0.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.7 9 46 7.7 +1.6
IQSI IQ Candriam International Equity ETF 1.7 15 40 5.6 -0.6
EFA iShares MSCI EAFE ETF 1.7 35 20 5.8 -0.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.7 49 6 6.1 -0.1
NUEM Nuveen ESG Emerging Markets Equity ETF 1.7 36 19 5.8 -0.4
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 1.7 58 -3 5.6 -0.6
DWX SPDR S&P International Dividend ETF 1.7 45 10 6.9 +0.7
IQLT iShares MSCI Intl Quality Factor ETF 1.7 30 25 5.5 -0.7
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.7 12 43 5.4 -0.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 8 47 6.4 +0.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.7 36 19 7.6 +1.4
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 25 6.4 +0.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.7 70 -15 6.5 +0.4
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 31 5.7 -0.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 17 7.0 +0.8
FLLA Franklin FTSE Latin America ETF 1.7 19 36 10.7 +4.6
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.7 53 2 5.0 -1.2
LDEM iShares ESG MSCI EM Leaders ETF 1.6 17 38 12.8 +6.6
IVSI Applied Finance IVS International Large ETF 1.6 65 -10 5.9 -0.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.4 -0.8
GCOW Pacer Global Cash Cows Dividend ETF 1.6 60 -5 9.4 +3.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.6 66 -11 7.3 +1.2
SMIN iShares MSCI India Small Cap ETF 1.6 79 -24 3.4 -2.8
IEMG iShares Core MSCI Emerging Markets ETF 1.6 9 46 8.1 +2.0
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 1.6 69 -14 7.6 +1.4
EEM iShares MSCI Emerging Markets ETF 1.6 69 -14 7.8 +1.6
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 1.6 20 35 5.6 -0.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.6 44 11 9.6 +3.4
DIVI Franklin International Core Dividend Tilt Index ETF 1.6 9 46 6.6 +0.4
VWO Vanguard FTSE Emerging Markets ETF 1.6 7 48 9.2 +3.0
EWJV iShares MSCI Japan Value ETF 1.5 15 40 6.5 +0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.5 70 -15 6.8 +0.6
ISCF iShares International SmallCap Equity Factor ETF 1.5 23 32 7.2 +1.1
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.5 80 -25 8.9 +2.7
PATN Pacer Nasdaq International Patent Leaders ETF 1.5 65 -10 4.1 -2.1
SCHE Schwab Emerging Markets Equity ETF 1.5 11 44 9.4 +3.2
FEZ SPDR EURO STOXX 50 ETF 1.5 29 26 5.8 -0.4
ESGD iShares ESG Aware MSCI EAFE ETF 1.5 20 35 5.8 -0.4
LVHI Franklin International Low Volatility High Dividend Index ET 1.5 40 15 7.4 +1.2
PID Invesco International Dividend Achievers ETF 1.4 53 2 4.4 -1.7
FLGR Franklin FTSE Germany ETF 1.4 9 46 6.8 +0.7
DMXF iShares ESG Advanced MSCI EAFE ETF 1.4 12 43 4.9 -1.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.4 30 25 7.9 +1.7
KNO AXS Knowledge Leaders ETF 1.4 78 -23 4.0 -2.2
FRDM Freedom 100 Emerging Markets ETF 1.4 49 6 5.2 -1.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.4 45 10 8.0 +1.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.4 70 -15 9.7 +3.5
FYLD Cambria Foreign Shareholder Yield ETF 1.4 59 -4 9.7 +3.6
SPEM SPDR Portfolio Emerging Markets ETF 1.3 7 48 9.4 +3.3
BINV Brandes International ETF 1.3 70 -15 8.5 +2.3
VIGI Vanguard International Dividend Appreciation ETF 1.3 10 45 6.1 -0.1
NUKZ Range Nuclear Renaissance Index ETF 1.3 85 -30 1.7 -4.5
EWG iShares MSCI Germany ETF 1.3 50 5 6.1 -0.0
RGEF Rockefeller Global Equity ETF 1.3 55 0 3.8 -2.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.3 59 -4 8.5 +2.4
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 8.5 +2.4
GNR SPDR S&P Global Natural Resources ETF 1.2 40 15 8.1 +2.0
BLES Inspire Global Hope ETF 1.2 61 -6 5.8 -0.4
EDEN iShares MSCI Denmark ETF 1.2 53 2 6.4 +0.2
FCA First Trust China AlphaDEX Fund 1.2 80 -25 9.0 +2.8
GREK Global X MSCI Greece ETF 1.2 57 -2 8.3 +2.2
AGRW Allspring LT Large Growth ETF 1.2 35 20 3.5 -2.7
DAX Global X DAX Germany ETF 1.2 21 34 6.4 +0.2
FLAU Franklin FTSE Australia ETF 1.2 9 46 6.0 -0.2
VYMI Vanguard International High Dividend Yield ETF 1.2 17 38 7.9 +1.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.1 29 26 9.0 +2.8
DLS WisdomTree International SmallCap Dividend Fund 1.1 58 -3 7.3 +1.2
IPKW Invesco International BuyBack Achievers ETF 1.1 55 0 8.0 +1.8
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.1 75 -20 1.8 -4.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.1 41 14 6.9 +0.7
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.1 30 25 6.1 -0.1
IMOM Alpha Architect International Quantitative Momentum ETF 1.1 49 6 4.6 -1.5
JIVE JPMorgan International Value ETF 1.1 55 0 8.0 +1.8
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.1 35 20 10.0 +3.8
AZTD Aztlan Global Stock Selection DM SMID ETF 1.1 75 -20 4.5 -1.6
OAIM OneAscent International Equity ETF 1.0 95 -40 4.4 -1.8
IDLV Invesco S&P International Developed Low Volatility ETF 1.0 25 30 6.5 +0.3
WSML iShares MSCI World Small-Cap ETF 1.0 15 40 5.4 -0.7
GEW Cambria Global EW ETF 1.0 29 26 5.4 -0.8
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.0 42 13 7.8 +1.6
FID First Trust S&P International Dividend Aristocrats ETF 1.0 60 -5 7.7 +1.5
CVAR Cultivar ETF 1.0 87 -32 6.8 +0.7
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 0.9 35 20 3.4 -2.7
DVYE iShares Emerging Markets Dividend ETF 0.9 49 6 17.7 +11.6
ESGE iShares ESG Aware MSCI EM ETF 0.9 25 30 8.1 +1.9
ROAM Hartford Multifactor Emerging Markets ETF 0.9 44 11 7.5 +1.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.9 58 -3 8.5 +2.4
EMM Global X Emerging Markets ex-China ETF 0.9 75 -20 4.6 -1.6
GVAL Cambria Global Value ETF 0.9 68 -13 8.2 +2.1
EWO iShares MSCI Austria ETF 0.9 50 5 7.1 +0.9
CZAR Themes Natural Monopoly ETF 0.9 35 20 5.3 -0.8
CGW Invesco S&P Global Water Index ETF 0.8 57 -2 4.7 -1.4
DTCR Global X Data Center & Digital Infrastructure ETF 0.8 50 5 3.5 -2.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 7.4 +1.2
MOTG VanEck Morningstar Global Wide Moat ETF 0.8 52 3 8.1 +1.9
ESGG FlexShares STOXX Global ESG Select Index Fund 0.8 42 13 4.0 -2.2
EMXF iShares ESG Advanced MSCI EM ETF 0.8 16 39 6.5 +0.4
EMC Global X Emerging Markets Great Consumer ETF 0.8 75 -20 7.1 +0.9
MJSC MUFG Japan Small Cap Active ETF 0.8 85 -30 4.6 -1.6
FENI Fidelity Enhanced International ETF 0.8 28 27 5.8 -0.4
VSGX Vanguard ESG International Stock ETF 0.8 10 45 6.6 +0.4
DGIN VanEck Digital India ETF 0.8 71 -16 1.5 -4.7
EFV iShares MSCI EAFE Value ETF 0.8 34 21 7.4 +1.3
ICPY Tweedy, Browne International Insider Value ETF 0.8 80 -25 20.6 +14.5
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 8 7.5 +1.3
JADE JPMorgan Active Developing Markets Equity ETF 0.8 65 -10 5.9 -0.2
KLMT Invesco MSCI Global Climate 500 ETF 0.7 10 45 4.9 -1.2
EWM iShares MSCI Malaysia ETF 0.7 50 5 6.6 +0.5
WDIV SPDR S&P Global Dividend ETF 0.7 40 15 9.0 +2.9
CGIE Capital Group International Equity ETF 0.7 54 1 4.6 -1.6
VT Vanguard Total World Stock ETF 0.7 6 49 5.0 -1.2
DFJ WisdomTree Japan SmallCap Dividend Fund 0.7 58 -3 6.1 -0.1
EIS iShares MSCI Israel ETF 0.7 58 -3 6.8 +0.6
ISRA VanEck Israel ETF 0.7 59 -4 5.9 -0.3
COPY Tweedy, Browne Insider + Value ETF 0.7 80 -25 14.5 +8.4
GLOF iShares Global Equity Factor ETF 0.7 20 35 5.5 -0.7
OBOR KraneShares MSCI One Belt One Road Index ETF 0.7 79 -24 7.2 +1.1
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.7 15 40 8.9 +2.7
EDIV SPDR S&P Emerging Markets Dividend ETF 0.6 49 6 9.2 +3.0
NUDM Nuveen ESG International Developed Markets Equity ETF 0.6 31 24 5.5 -0.7
ACWI iShares MSCI ACWI ETF 0.6 32 23 4.6 -1.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.6 45 10 9.7 +3.6
AVSE Avantis Responsible Emerging Markets Equity ETF 0.6 33 22 6.6 +0.4
DEW WisdomTree Global High Dividend Fund 0.6 58 -3 7.2 +1.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.6 9 46 4.8 -1.3
WRND IQ Global Equity R&D Leaders ETF 0.6 18 37 4.1 -2.1
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.6 20 35 5.7 -0.5
TRFK Pacer Data and Digital Revolution ETF 0.6 60 -5 1.8 -4.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.6 12 43 4.4 -1.7
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.6 88 -33 8.5 +2.3
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.6 25 30 5.5 -0.7
EUDV ProShares MSCI Europe Dividend Growers ETF 0.6 55 0 6.0 -0.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.6 50 5 5.7 -0.4
AIA iShares Asia 50 ETF 0.5 50 5 7.3 +1.2
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 22 6.7 +0.5
MINV Matthews Asia Innovators Active ETF 0.5 79 -24 5.8 -0.4
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.5 80 -25 5.7 -0.5
URTH iShares MSCI World ETF 0.5 24 31 4.3 -1.9
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.4 -1.8
DTAN Sparkline International Intangible Value ETF 0.5 55 0 7.1 +1.0
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.5 19 36 5.4 -0.8
TINY ProShares Nanotechnology ETF 0.5 58 -3 1.4 -4.7
AIQ Global X Artificial Intelligence & Technology ETF 0.5 68 -13 2.7 -3.5
GLBL Pacer MSCI World Industry Advantage ETF 0.5 65 -10 3.4 -2.8
ECNS iShares MSCI China Small-Cap ETF 0.4 59 -4 10.3 +4.2
ERTH Invesco MSCI Sustainable Future ETF 0.4 62 -7 3.6 -2.6
HAP VanEck Natural Resources ETF 0.4 50 5 6.5 +0.3
IXP iShares Global Comm Services ETF 0.4 42 13 5.7 -0.4
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 -8 9.9 +3.8
BATT Amplify Lithium & Battery Technology ETF 0.4 59 -4 2.1 -4.1
GWX SPDR S&P International Small Cap ETF 0.4 40 15 5.8 -0.4
JSTC Adasina Social Justice All Cap Global ETF 0.4 89 -34 4.4 -1.8
DFE WisdomTree Europe SmallCap Dividend Fund 0.4 58 -3 7.7 +1.5
EFNL iShares MSCI Finland ETF 0.4 56 -1 5.5 -0.6
TUR iShares MSCI Turkey ETF 0.4 58 -3 14.7 +8.5
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 9 7.7 +1.5
EPOL iShares MSCI Poland ETF 0.4 59 -4 8.1 +1.9
QWLD SPDR MSCI World StrategicFactors ETF 0.4 30 25 5.2 -1.0
TOK iShares MSCI Kokusai ETF 0.4 26 29 4.3 -1.9
APIE ActivePassive International Equity ETF 0.4 45 10 6.4 +0.3
CGDG Capital Group Dividend Growers ETF 0.4 47 8 5.3 -0.9
FLTW Franklin FTSE Taiwan ETF 0.4 19 36 3.0 -3.1
AFK VanEck Africa Index ETF 0.4 98 -43 10.6 +4.5
EWUS iShares MSCI United Kingdom Small Cap ETF 0.4 59 -4 7.3 +1.2
FLCH Franklin FTSE China ETF 0.4 19 36 19.2 +13.1
GINN Goldman Sachs Innovate Equity ETF 0.3 52 3 3.6 -2.5
KLMN Invesco MSCI North America Climate ETF 0.3 9 46 4.3 -1.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 35 4.7 -1.5
FDEM Fidelity Emerging Markets Multifactor ETF 0.3 25 30 10.5 +4.3
ACWV iShares MSCI Global Min Vol Factor ETF 0.3 20 35 5.7 -0.5
GXC SPDR S & P China ETF 0.3 59 -4 19.9 +13.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 6 4.7 -1.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.3 40 15 6.1 -0.0
DWLD Davis Select Worldwide ETF 0.3 63 -8 7.2 +1.1
DINT Davis Select International ETF 0.3 55 0 6.4 +0.2
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 2.9 -3.3
KGRN KraneShares MSCI China Clean Technology Index ETF 0.2 79 -24 4.3 -1.9
QQQM Invesco NASDAQ 100 ETF 0.2 15 40 3.3 -2.9
QQMG Invesco ESG NASDAQ 100 ETF 0.2 20 35 3.2 -3.0
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 2.1 -4.1
QQQ Invesco QQQ Trust Series I 0.2 20 35 3.2 -3.0
EWK iShares MSCI Belgium ETF 0.2 50 5 3.9 -2.2
CVY Invesco Zacks Multi-Asset Income ETF 0.2 106 -51 10.3 +4.2
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 37 0.0 -6.2
TAN Invesco Solar ETF 0.2 67 -12 6.0 -0.1
RNRG Global X Renewable Energy Producers ETF 0.2 66 -11 5.1 -1.0
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.2 80 -25 12.6 +6.4
JCHI JPMorgan Active China ETF 0.2 65 -10 16.4 +10.3
MCHI iShares MSCI China ETF 0.2 59 -4 21.6 +15.4
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.2 90 -35 3.4 -2.8
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.0 -2.1
EYLD Cambria Emerging Shareholder Yield ETF 0.2 66 -11 8.8 +2.6
FTAG First Trust Indxx Global Agriculture ETF 0.2 70 -15 7.0 +0.8
IUS Invesco RAFI Strategic US ETF 0.1 19 36 5.4 -0.7
ACVF American Conservative Values ETF 0.1 75 -20 3.8 -2.4
EFRA iShares Environmental Infrastructure and Industrials ETF 0.1 47 8 5.2 -0.9
AQWA Global X Clean Water ETF 0.1 50 5 5.4 -0.8
TBLU Tortoise Global Water ESG ETF 0.1 40 15 4.8 -1.4
PRNT 3D Printing ETF 0.1 66 -11 1.2 -5.0
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 2.9 -3.3
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 5.9 -0.2
DRIV Global X Autonomous & Electric Vehicles ETF 0.1 68 -13 3.6 -2.6
IDRV iShares Self-driving EV & Tech ETF 0.1 47 8 1.7 -4.5
ETEC iShares Breakthrough Environmental Solutions ETF 0.1 47 8 3.5 -2.6
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.1 22 33 5.6 -0.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -10 6.7 +0.5
FBCG Fidelity Blue Chip Growth ETF 0.1 59 -4 2.2 -3.9
UAE iShares MSCI UAE ETF 0.1 59 -4 0.0 -6.2

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 9.5 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 6.2 %
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.