Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 6.1% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 19.7x 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
CANADIAN NATL RAILWAY CO 3.7 %
CANADIAN PACIFIC KANSAS CITY LTD 3.5 %
ARCELORMITTAL SA 3.3 %
HOLCIM LTD-REG 3.1 %
VINCI SA 3.1 %
LARSEN & TOUBRO LIMITED 3.1 %
HEIDELBERGCEMENT AG 3.1 %
GRUPO FERROVIAL 3.0 %
SHIN-ETSU CHEMICAL CO LTD 3.0 %
FUJIKURA LTD 3.0 %
Total 31.7 %

TOP COUNTRY EXPOSURE
INDIA 19.4 %
JAPAN 12.9 %
CANADA 8.8 %
SOUTH KOREA 7.3 %
SPAIN 7.1 %
FRANCE 6.3 %
ITALY 5.0 %
LUXEMBOURG 3.6 %
BRAZIL 3.2 %
SWITZERLAND 3.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
9.7% 19.5% -- -- 16.5%

Market Correlations
versus... Beta R-squared
S&P500 1.07 56%
MSCI EAFE 1.02 79%
MSCI Emg. Mkts. 0.65 70%

Technical Indicators
Recent close $31.16
30d moving avg. $32.21
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 44

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 417 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™: 6.1%


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 9.6 39 16 8.6 +2.5
NFTY First Trust India NIFTY 50 Equal Weight ETF 8.8 80 -25 5.0 -1.0
INDY iShares India 50 ETF 8.0 89 -34 5.4 -0.7
SUPL ProShares Supply Chain Logistics ETF 8.0 58 -3 7.3 +1.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.6 47 8 5.0 -1.1
INDA iShares MSCI India ETF 7.6 65 -10 4.7 -1.4
MXI iShares Global Materials ETF 7.6 41 14 6.2 +0.1
SHPP Pacer Industrials and Logistics ETF 7.1 60 -5 6.5 +0.5
FEUZ First Trust Eurozone AlphaDEX ETF 7.0 80 -25 6.6 +0.5
EPI WisdomTree India Earnings Fund 7.0 85 -30 5.3 -0.8
FLIN Franklin FTSE India ETF 6.7 19 36 4.2 -1.9
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.7 46 9 5.1 -1.0
JIVE JPMorgan International Value ETF 6.6 55 0 8.1 +2.1
FEP First Trust Europe AlphaDEX Fund 6.4 80 -25 6.9 +0.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 6.2 58 -3 3.7 -2.4
POW VistaShares Electrification Supercycle ETF 6.0 75 -20 2.3 -3.8
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 5.9 80 -25 3.8 -2.3
NDIA Global X India Active ETF 5.8 75 -20 5.2 -0.9
INEQ Columbia International Equity Income ETF 5.8 45 10 7.8 +1.7
AIVI WisdomTree International AI Enhanced Value Fund 5.7 58 -3 6.2 +0.2
EWP iShares MSCI Spain ETF 5.4 50 5 5.8 -0.3
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.2 58 -3 9.1 +3.1
RNEM First Trust Emerging Markets Equity Select ETF 5.1 75 -20 8.0 +1.9
IQRA IQ CBRE Real Assets ETF 5.0 65 -10 5.6 -0.4
FLCA Franklin FTSE Canada ETF 4.9 9 46 5.4 -0.6
FIVA Fidelity International Value Factor ETF 4.8 18 37 7.2 +1.1
EWQ iShares MSCI France ETF 4.8 53 2 6.7 +0.6
SRVR Pacer Data & Infrastructure Real Estate ETF 4.7 55 0 4.1 -2.0
BBCA JPMorgan BetaBuilders Canada ETF 4.7 19 36 5.3 -0.7
DSTX Distillate International Fundamental Stability & Value ETF 4.6 55 0 6.6 +0.6
AVIV Avantis International Large Cap Value ETF 4.6 25 30 6.9 +0.8
OSEA Harbor International Compounders ETF 4.6 55 0 4.4 -1.6
HEDJ WisdomTree Europe Hedged Equity Fund 4.6 58 -3 6.0 -0.1
JHMD John Hancock Multifactor Developed International ETF 4.5 39 16 6.2 +0.1
IVAL Alpha Architect International Quantitative Value ETF 4.4 49 6 7.7 +1.7
PIN Invesco India ETF 4.1 78 -23 5.4 -0.7
NXTG First Trust Indxx NextG ETF 4.1 70 -15 3.7 -2.4
PBD Invesco Global Clean Energy ETF 4.0 75 -20 0.3 -5.7
FDT First Trust Developed Markets ex-US AlphaDEX Fund 3.9 80 -25 7.0 +1.0
OTGL OTG Latin America ETF 3.8 269 -214 7.8 +1.8
IEUS iShares MSCI Europe Small-Cap ETF 3.8 42 13 6.9 +0.8
TNUK Tortoise Nuclear Renaissance ETF 3.8 75 -20 0.9 -5.2
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 6.6 +0.5
UIVM VictoryShares International Value Momentum ETF 3.7 35 20 8.0 +2.0
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.7 58 -3 5.3 -0.8
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 3.6 24 31 6.9 +0.9
TPIF Timothy Plan International ETF 3.6 62 -7 5.6 -0.5
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.5 65 -10 8.1 +2.1
AVDE Avantis International Equity ETF 3.5 23 32 6.2 +0.2
ASLV Allspring Special Large Value ETF 3.5 35 20 5.1 -0.9
VCLN Virtus Duff & Phelps Clean Energy ETF 3.4 59 -4 2.8 -3.3
TOLL Tema Durable Quality ETF 3.4 75 -20 3.9 -2.2
WTRE WisdomTree New Economy Real Estate Fund 3.3 58 -3 -0.3 -6.4
JPXN iShares JPX-Nikkei 400 ETF 3.3 48 7 5.4 -0.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.3 42 13 4.1 -1.9
SAGP Strategas Global Policy Opportunities ETF 3.3 65 -10 4.8 -1.3
FLKR Franklin FTSE South Korea ETF 3.2 9 46 4.5 -1.5
EWI iShares MSCI Italy ETF 3.2 50 5 10.8 +4.8
DFIV Dimensional International Value ETF 3.2 27 28 7.7 +1.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.2 45 10 5.4 -0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.2 39 16 6.3 +0.2
SCHY Schwab International Dividend Equity ETF 3.1 14 41 8.4 +2.3
EXI iShares Global Industrials ETF 3.1 42 13 3.6 -2.5
QQLV Invesco QQQ Low Volatility ETF 3.0 25 30 4.2 -1.9
ILF iShares Latin America 40 ETF 3.0 48 7 9.6 +3.6
BKCI BNY Mellon Concentrated International ETF 3.0 80 -25 4.9 -1.1
TMFG Motley Fool Global Opportunities ETF 3.0 85 -30 3.9 -2.2
BBJP JPMorgan BetaBuilders Japan ETF 3.0 19 36 5.3 -0.7
CCNR ALPS CoreCommodity Natural Resources ETF 2.9 39 16 8.5 +2.4
SCZ iShares MSCI EAFE Small-Cap ETF 2.9 40 15 6.2 +0.2
IMFL Invesco International Developed Dynamic Multifactor ETF 2.9 34 21 5.3 -0.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.9 24 31 5.4 -0.7
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.9 25 30 5.5 -0.6
EFG iShares MSCI EAFE Growth ETF 2.9 36 19 3.9 -2.2
AADR AdvisorShares Dorsey Wright ADR ETF 2.9 110 -55 3.2 -2.9
FLJP Franklin FTSE Japan ETF 2.9 9 46 5.4 -0.7
FRGN Horizon International Equity ETF 2.9 75 -20 7.9 +1.8
EZU iShares MSCI Eurozone ETF 2.8 52 3 5.7 -0.4
HEZU iShares Currency Hedged MSCI Eurozone ETF 2.8 53 2 5.4 -0.7
DXJ WisdomTree Japan Hedged Equity Fund 2.8 48 7 5.1 -1.0
FLJH Franklin FTSE Japan Hedged ETF 2.8 9 46 5.0 -1.1
EMMF WisdomTree Emerging Markets Multifactor Fund 2.8 48 7 8.9 +2.8
FNDF Schwab Fundamental International Large Co. Index ETF 2.8 25 30 7.4 +1.3
BKF iShares MSCI BIC ETF 2.7 69 -14 15.0 +8.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.7 45 10 6.8 +0.7
DFEV Dimensional Emerging Markets Value ETF 2.7 43 12 9.7 +3.6
AVDV Avantis International Small Cap Value ETF 2.7 36 19 7.9 +1.9
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 2.7 79 -24 3.7 -2.4
DFIS Dimensional International Small Cap ETF 2.7 39 16 6.2 +0.2
UMMA Wahed Dow Jones Islamic World ETF 2.7 65 -10 3.7 -2.4
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.7 47 8 4.5 -1.5
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.7 65 -10 4.2 -1.8
FAN First Trust Global Wind Energy ETF 2.6 60 -5 2.9 -3.1
STXI Strive International Developed Markets ETF 2.6 29 26 6.3 +0.2
EWJ iShares MSCI Japan ETF 2.6 50 5 4.9 -1.2
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 2.6 80 -25 7.7 +1.6
DIM WisdomTree International MidCap Dividend Fund 2.6 58 -3 6.3 +0.3
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 6.8 +0.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 8.4 +2.4
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.6 48 7 4.7 -1.3
HEWJ iShares Currency Hedged MSCI Japan ETF 2.6 50 5 5.3 -0.8
FGM First Trust Germany AlphaDEX Fund 2.6 80 -25 5.1 -0.9
EWY iShares MSCI South Korea ETF 2.6 58 -3 3.6 -2.5
WWJD Inspire International ETF 2.6 80 -25 6.4 +0.3
EWL iShares MSCI Switzerland ETF 2.6 50 5 5.6 -0.5
FLSW Franklin FTSE Switzerland ETF 2.6 9 46 5.8 -0.3
EWC iShares MSCI Canada ETF 2.5 50 5 5.1 -1.0
FIDI Fidelity International High Dividend ETF 2.5 18 37 7.1 +1.0
RAYJ Rayliant SMDAM Japan Equity ETF 2.5 72 -17 3.1 -2.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.5 32 23 4.9 -1.1
DFIC Dimensional International Core Equity 2 ETF 2.5 23 32 6.3 +0.2
INTF iShares International Equity Factor ETF 2.5 15 40 6.5 +0.4
DXIV Dimensional International Vector Equity ETF 2.5 34 21 6.6 +0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.5 25 30 6.3 +0.3
DFAI Dimensional International Core Equity Market ETF 2.5 18 37 6.0 -0.0
CIL VictoryShares International Volatility Wtd ETF 2.4 45 10 5.9 -0.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.4 30 25 6.5 +0.5
IGRO iShares International Dividend Growth ETF 2.4 15 40 6.6 +0.6
IDMO Invesco S&P International Developed Momentum ETF 2.4 25 30 5.2 -0.9
JPIN J.P. Morgan Diversified Return International Equity ETF 2.4 37 18 7.1 +1.1
AVES Avantis Emerging Markets Value ETF 2.4 36 19 9.3 +3.2
BKIE BNY Mellon International Equity ETF 2.4 4 51 18.0 +11.9
URA Global X Uranium ETF 2.3 69 -14 1.1 -5.0
FJP First Trust Japan AlphaDEX Fund 2.3 80 -25 7.7 +1.6
FEM First Trust Emerging Markets AlphaDEX Fund 2.3 80 -25 9.1 +3.1
JHEM John Hancock Multifactor Emerging Markets ETF 2.3 49 6 7.8 +1.7
EMDM First Trust Bloomberg Emerging Market Democracies ETF 2.3 75 -20 6.6 +0.5
DISV Dimensional International Small Cap Value ETF 2.3 42 13 8.2 +2.1
GLIN VanEck India Growth Leaders ETF 2.3 77 -22 5.6 -0.5
IDOG ALPS International Sector Dividend Dogs ETF 2.2 50 5 9.4 +3.3
ECON Columbia Emerging Markets Consumer ETF 2.2 49 6 6.8 +0.7
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.2 35 20 5.7 -0.4
EEMO Invesco S&P Emerging Markets Momentum ETF 2.2 29 26 7.0 +0.9
BRAZ Global X Brazil Active ETF 2.2 75 -20 10.4 +4.4
EWZ iShares MSCI Brazil ETF 2.2 58 -3 10.7 +4.7
FLBR Franklin FTSE Brazil ETF 2.2 19 36 11.9 +5.9
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.2 60 -5 6.7 +0.6
IVLU iShares MSCI Intl Value Factor ETF 2.2 30 25 8.0 +2.0
XCEM Columbia EM Core ex-China ETF 2.2 16 39 5.1 -0.9
AVDS Avantis International Small Cap Equity ETF 2.2 30 25 6.1 +0.1
DTH WisdomTree International High Dividend Fund 2.2 58 -3 7.3 +1.2
PXH Invesco FTSE RAFI Emerging Markets ETF 2.2 49 6 13.5 +7.5
VEXC Vanguard Emerging Markets Ex-China ETF 2.2 7 48 5.8 -0.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.2 33 22 6.3 +0.3
SPEU SPDR Portfolio Europe ETF 2.2 7 48 6.5 +0.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.2 18 37 6.4 +0.3
SPDW SPDR Portfolio Developed World ex-US ETF 2.1 3 52 5.9 -0.2
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.3 +0.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 6.1 +0.1
VGK Vanguard FTSE Europe ETF 2.1 6 49 6.6 +0.5
SCHC Schwab International Small-Cap Equity ETF 2.1 11 44 6.8 +0.7
DOL WisdomTree International LargeCap Dividend Fund 2.1 48 7 5.6 -0.4
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.2 +0.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.1 32 23 7.8 +1.7
FPAG FPA Global Equity ETF 2.1 49 6 5.8 -0.3
STXE Strive Emerging Markets Ex-China ETF 2.1 32 23 5.5 -0.6
SCHF Schwab International Equity ETF 2.1 6 49 6.0 -0.1
HFXI IQ FTSE International Equity Currency Neutral ETF 2.1 20 35 5.6 -0.4
JIG JPMorgan International Growth ETF 2.1 55 0 3.7 -2.3
VEA Vanguard FTSE Developed Markets ETF 2.1 3 52 6.0 -0.1
IEUR iShares Core MSCI Europe ETF 2.1 11 44 6.4 +0.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 15 5.6 -0.4
FRNW Fidelity Clean Energy ETF 2.1 39 16 2.0 -4.0
AVEM Avantis Emerging Markets Equity ETF 2.1 33 22 7.3 +1.2
IDEV iShares Core MSCI International Developed Markets ETF 2.0 4 51 6.0 -0.0
XCNY SPDR S&P Emerging Markets ex-China ETF 2.0 15 40 5.8 -0.3
DWM WisdomTree International Equity Fund 2.0 48 7 5.6 -0.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.0 39 16 13.7 +7.6
FTHF First Trust Emerging Markets Human Flourishing ETF 2.0 75 -20 6.1 +0.1
GSID Goldman Sachs MarketBeta International Equity ETF 2.0 20 35 5.8 -0.2
IEV iShares Europe ETF 2.0 67 -12 5.9 -0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.0 14 41 5.3 -0.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.0 47 8 7.3 +1.2
IBAT iShares Energy Storage & Materials ETF 2.0 47 8 1.8 -4.3
IMTM iShares MSCI Intl Momentum Factor ETF 2.0 30 25 4.7 -1.4
IEFA iShares Core MSCI EAFE ETF 2.0 7 48 6.1 +0.0
QINT American Century Quality Diversified International ETF 2.0 39 16 6.6 +0.6
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.0 70 -15 4.1 -2.0
AVSD Avantis Responsible International Equity ETF 2.0 23 32 5.9 -0.1
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.0 20 35 5.6 -0.5
VEU Vanguard FTSE All-World ex-US Index Fund 2.0 4 51 6.8 +0.7
VPL Vanguard FTSE Pacific ETF 2.0 7 48 5.3 -0.7
DMXF iShares ESG Advanced MSCI EAFE ETF 2.0 12 43 4.9 -1.1
VXUS Vanguard Total International Stock ETF 2.0 5 50 6.7 +0.6
JPEF JPMorgan Equity Focus ETF 1.9 50 5 3.8 -2.2
EMXC iShares MSCI Emerging Markets ex China ETF 1.9 25 30 5.3 -0.8
EEMA iShares MSCI Emerging Markets Asia ETF 1.9 49 6 7.7 +1.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 7.0 +1.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.9 46 9 5.3 -0.7
FDEV Fidelity International Multifactor ETF 1.9 18 37 7.2 +1.1
DFAE Dimensional Emerging Core Equity Market ETF 1.9 35 20 7.2 +1.2
IPAC iShares Core MSCI Pacific ETF 1.9 9 46 5.5 -0.6
JHID John Hancock International High Dividend ETF 1.9 46 9 7.9 +1.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.9 41 14 5.9 -0.1
DIHP Dimensional International High Profitability ETF 1.9 29 26 5.8 -0.3
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 6.7 +0.6
VIDI Vident International Equity Strategy ETF 1.9 61 -6 8.3 +2.3
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.9 58 -3 6.4 +0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 36 19 5.2 -0.9
IDHQ Invesco S&P International Developed High Quality ETF 1.8 29 26 5.1 -1.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.8 12 43 5.3 -0.8
DEHP Dimensional Emerging Markets High Profitability ETF 1.8 41 14 5.0 -1.0
EFA iShares MSCI EAFE ETF 1.8 35 20 5.8 -0.3
HEFA iShares Currency Hedged MSCI EAFE ETF 1.8 35 20 5.6 -0.4
EWJV iShares MSCI Japan Value ETF 1.8 15 40 6.7 +0.7
ACWX iShares MSCI ACWI ex U.S. ETF 1.8 34 21 6.4 +0.4
FNDC Schwab Fundamental International Small Co. Index ETF 1.8 39 16 6.9 +0.8
CGXU Capital Group International Focus Equity ETF 1.8 54 1 3.9 -2.2
CWI SPDR MSCI ACWI ex-US ETF 1.8 30 25 6.5 +0.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.8 15 40 8.3 +2.2
FLAX Franklin FTSE Asia Ex Japan ETF 1.8 19 36 7.4 +1.3
IVSI Applied Finance IVS International Large ETF 1.8 65 -10 5.9 -0.2
JIRE JPMorgan International Research Enhanced Equity ETF 1.8 24 31 5.8 -0.3
IQLT iShares MSCI Intl Quality Factor ETF 1.8 30 25 5.5 -0.6
BKEM BNY Mellon Emerging Markets Equity ETF 1.8 11 44 24.9 +18.9
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 31 5.7 -0.4
EMGF iShares Emerging Markets Equity Factor ETF 1.7 25 30 9.3 +3.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.7 9 46 7.6 +1.5
IQSI IQ Candriam International Equity ETF 1.7 15 40 5.6 -0.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.7 49 6 6.1 +0.1
GCOW Pacer Global Cash Cows Dividend ETF 1.7 60 -5 9.4 +3.3
NUEM Nuveen ESG Emerging Markets Equity ETF 1.7 36 19 6.2 +0.1
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 1.7 58 -3 5.6 -0.5
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.7 53 2 5.3 -0.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.7 36 19 7.9 +1.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 8 47 6.5 +0.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 17 7.3 +1.2
FLLA Franklin FTSE Latin America ETF 1.7 19 36 10.7 +4.7
SCJ iShares MSCI Japan Small-Cap ETF 1.6 50 5 5.6 -0.5
DGT State Street SPDR Global Dow ETF 1.6 50 5 5.7 -0.4
EWN iShares MSCI Netherlands ETF 1.6 50 5 4.5 -1.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.3 -0.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.6 80 -25 9.6 +3.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.6 66 -11 7.6 +1.5
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 1.6 69 -14 7.8 +1.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.6 44 11 9.6 +3.5
EEM iShares MSCI Emerging Markets ETF 1.6 69 -14 8.1 +2.1
DIVI Franklin International Core Dividend Tilt Index ETF 1.6 9 46 6.6 +0.5
FEZ SPDR EURO STOXX 50 ETF 1.6 29 26 5.8 -0.3
LDEM iShares ESG MSCI EM Leaders ETF 1.6 17 38 13.1 +7.1
ISCF iShares International SmallCap Equity Factor ETF 1.6 23 32 7.4 +1.3
VWO Vanguard FTSE Emerging Markets ETF 1.6 7 48 9.4 +3.3
PATN Pacer Nasdaq International Patent Leaders ETF 1.5 65 -10 4.2 -1.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.5 70 -15 7.2 +1.1
IEMG iShares Core MSCI Emerging Markets ETF 1.5 9 46 8.5 +2.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.5 70 -15 9.4 +3.3
SCHE Schwab Emerging Markets Equity ETF 1.5 11 44 9.6 +3.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.5 30 25 8.3 +2.2
LVHI Franklin International Low Volatility High Dividend Index ET 1.5 40 15 7.3 +1.2
ESGD iShares ESG Aware MSCI EAFE ETF 1.5 20 35 5.8 -0.3
VIGI Vanguard International Dividend Appreciation ETF 1.4 10 45 6.0 -0.1
PID Invesco International Dividend Achievers ETF 1.4 53 2 4.1 -2.0
FLGR Franklin FTSE Germany ETF 1.4 9 46 6.8 +0.8
KNO AXS Knowledge Leaders ETF 1.4 78 -23 4.1 -2.0
FYLD Cambria Foreign Shareholder Yield ETF 1.4 59 -4 10.1 +4.0
RGEF Rockefeller Global Equity ETF 1.4 55 0 3.9 -2.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.4 45 10 8.3 +2.3
EWG iShares MSCI Germany ETF 1.4 50 5 6.2 +0.1
FCA First Trust China AlphaDEX Fund 1.4 80 -25 8.5 +2.4
SPEM SPDR Portfolio Emerging Markets ETF 1.4 7 48 9.7 +3.6
BINV Brandes International ETF 1.4 70 -15 8.5 +2.5
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 8.8 +2.8
NUKZ Range Nuclear Renaissance Index ETF 1.3 85 -30 1.5 -4.6
FRDM Freedom 100 Emerging Markets ETF 1.3 49 6 5.6 -0.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.3 59 -4 8.8 +2.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.3 70 -15 6.9 +0.8
SMIN iShares MSCI India Small Cap ETF 1.2 79 -24 3.4 -2.6
BLES Inspire Global Hope ETF 1.2 61 -6 5.7 -0.3
DAX Global X DAX Germany ETF 1.2 21 34 6.4 +0.3
AGRW Allspring LT Large Growth ETF 1.2 35 20 3.6 -2.5
GNR SPDR S&P Global Natural Resources ETF 1.2 40 15 8.6 +2.5
VYMI Vanguard International High Dividend Yield ETF 1.2 17 38 7.9 +1.8
EDEN iShares MSCI Denmark ETF 1.2 53 2 6.3 +0.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.2 35 20 10.4 +4.3
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.2 30 25 6.1 +0.0
GREK Global X MSCI Greece ETF 1.2 57 -2 8.8 +2.8
FLAU Franklin FTSE Australia ETF 1.2 9 46 5.9 -0.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.1 41 14 7.2 +1.1
IPKW Invesco International BuyBack Achievers ETF 1.1 55 0 8.0 +1.9
GEW Cambria Global EW ETF 1.1 29 26 5.4 -0.7
DLS WisdomTree International SmallCap Dividend Fund 1.1 58 -3 7.5 +1.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.1 29 26 8.9 +2.8
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.1 75 -20 1.9 -4.2
OAIM OneAscent International Equity ETF 1.0 95 -40 4.6 -1.4
AZTD Aztlan Global Stock Selection DM SMID ETF 1.0 75 -20 4.1 -1.9
IDLV Invesco S&P International Developed Low Volatility ETF 1.0 25 30 6.3 +0.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.0 42 13 8.1 +2.0
WSML iShares MSCI World Small-Cap ETF 1.0 15 40 5.4 -0.7
FID First Trust S&P International Dividend Aristocrats ETF 1.0 60 -5 7.7 +1.6
DVYE iShares Emerging Markets Dividend ETF 1.0 49 6 17.8 +11.7
CVAR Cultivar ETF 1.0 87 -32 7.0 +1.0
MOTG VanEck Morningstar Global Wide Moat ETF 0.9 52 3 8.0 +2.0
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 0.9 35 20 3.5 -2.6
DTCR Global X Data Center & Digital Infrastructure ETF 0.9 50 5 3.5 -2.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.9 30 25 7.7 +1.7
CGW Invesco S&P Global Water Index ETF 0.9 57 -2 4.5 -1.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.9 58 -3 8.7 +2.7
ROAM Hartford Multifactor Emerging Markets ETF 0.9 44 11 7.7 +1.7
CZAR Themes Natural Monopoly ETF 0.9 35 20 5.4 -0.7
MJSC MUFG Japan Small Cap Active ETF 0.8 85 -30 4.7 -1.4
GVAL Cambria Global Value ETF 0.8 68 -13 8.6 +2.5
EWO iShares MSCI Austria ETF 0.8 50 5 7.3 +1.2
ESGG FlexShares STOXX Global ESG Select Index Fund 0.8 42 13 4.0 -2.0
EFV iShares MSCI EAFE Value ETF 0.8 34 21 7.5 +1.4
VSGX Vanguard ESG International Stock ETF 0.8 10 45 6.7 +0.6
DGIN VanEck Digital India ETF 0.8 71 -16 1.5 -4.6
FENI Fidelity Enhanced International ETF 0.8 28 27 5.8 -0.3
EMM Global X Emerging Markets ex-China ETF 0.8 75 -20 5.0 -1.1
EMXF iShares ESG Advanced MSCI EM ETF 0.8 16 39 6.8 +0.8
RFDI First Trust Riverfront Dynamic Developed International ETF 0.8 83 -28 7.5 +1.5
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 8 7.5 +1.5
JADE JPMorgan Active Developing Markets Equity ETF 0.8 65 -10 6.2 +0.1
ICPY Tweedy, Browne International Insider Value ETF 0.8 80 -25 20.9 +14.8
KLMT Invesco MSCI Global Climate 500 ETF 0.7 10 45 5.0 -1.1
VT Vanguard Total World Stock ETF 0.7 6 49 5.1 -1.0
OBOR KraneShares MSCI One Belt One Road Index ETF 0.7 79 -24 7.6 +1.6
CGIE Capital Group International Equity ETF 0.7 54 1 4.6 -1.5
EWM iShares MSCI Malaysia ETF 0.7 50 5 6.6 +0.5
DFJ WisdomTree Japan SmallCap Dividend Fund 0.7 58 -3 6.6 +0.5
WDIV SPDR S&P Global Dividend ETF 0.7 40 15 8.9 +2.8
ISRA VanEck Israel ETF 0.7 59 -4 6.1 +0.0
EIS iShares MSCI Israel ETF 0.7 58 -3 6.8 +0.8
GLOF iShares Global Equity Factor ETF 0.7 20 35 5.6 -0.4
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.7 80 -25 5.3 -0.7
COPY Tweedy, Browne Insider + Value ETF 0.7 80 -25 14.4 +8.4
ACWI iShares MSCI ACWI ETF 0.7 32 23 4.7 -1.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.7 15 40 9.2 +3.1
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.7 45 10 9.7 +3.7
TRFK Pacer Data and Digital Revolution ETF 0.6 60 -5 2.0 -4.1
NUDM Nuveen ESG International Developed Markets Equity ETF 0.6 31 24 5.4 -0.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.6 12 43 4.5 -1.6
AVSE Avantis Responsible Emerging Markets Equity ETF 0.6 33 22 6.9 +0.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.6 9 46 4.9 -1.2
DEW WisdomTree Global High Dividend Fund 0.6 58 -3 7.0 +0.9
WRND IQ Global Equity R&D Leaders ETF 0.6 18 37 4.2 -1.9
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.6 20 35 5.7 -0.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.6 88 -33 8.4 +2.3
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.6 25 30 5.4 -0.7
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.6 50 5 5.8 -0.3
EUDV ProShares MSCI Europe Dividend Growers ETF 0.6 55 0 5.8 -0.2
URTH iShares MSCI World ETF 0.5 24 31 4.4 -1.7
ECNS iShares MSCI China Small-Cap ETF 0.5 59 -4 10.0 +3.9
ESGE iShares ESG Aware MSCI EM ETF 0.5 25 30 8.5 +2.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 22 6.9 +0.9
MINV Matthews Asia Innovators Active ETF 0.5 79 -24 5.6 -0.4
ERTH Invesco MSCI Sustainable Future ETF 0.5 62 -7 3.3 -2.8
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.4 -1.6
TUR iShares MSCI Turkey ETF 0.5 58 -3 13.3 +7.2
GLBL Pacer MSCI World Industry Advantage ETF 0.5 65 -10 3.5 -2.6
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.5 19 36 5.3 -0.8
IXP iShares Global Comm Services ETF 0.5 42 13 6.1 +0.1
AIA iShares Asia 50 ETF 0.5 50 5 7.9 +1.9
TINY ProShares Nanotechnology ETF 0.5 58 -3 1.3 -4.8
GWX SPDR S&P International Small Cap ETF 0.4 40 15 6.1 +0.0
EWT iShares MSCI Taiwan ETF 0.4 58 -3 3.1 -3.0
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 -8 10.4 +4.3
AIQ Global X Artificial Intelligence & Technology ETF 0.4 68 -13 3.0 -3.1
EFNL iShares MSCI Finland ETF 0.4 56 -1 6.0 -0.1
DFE WisdomTree Europe SmallCap Dividend Fund 0.4 58 -3 7.7 +1.6
JSTC Adasina Social Justice All Cap Global ETF 0.4 89 -34 4.3 -1.7
EPOL iShares MSCI Poland ETF 0.4 59 -4 8.8 +2.7
EMC Global X Emerging Markets Great Consumer ETF 0.4 75 -20 7.5 +1.4
HAP VanEck Natural Resources ETF 0.4 50 5 6.8 +0.7
TOK iShares MSCI Kokusai ETF 0.4 26 29 4.3 -1.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 9 7.9 +1.8
QWLD SPDR MSCI World StrategicFactors ETF 0.4 30 25 5.2 -0.9
APIE ActivePassive International Equity ETF 0.4 45 10 6.4 +0.4
CGDG Capital Group Dividend Growers ETF 0.4 47 8 5.1 -1.0
FLTW Franklin FTSE Taiwan ETF 0.4 19 36 3.5 -2.6
AFK VanEck Africa Index ETF 0.4 98 -43 11.7 +5.6
EWUS iShares MSCI United Kingdom Small Cap ETF 0.4 59 -4 7.2 +1.2
GXC SPDR S & P China ETF 0.4 59 -4 19.5 +13.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 35 5.7 -0.3
FLCH Franklin FTSE China ETF 0.4 19 36 18.6 +12.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 35 4.8 -1.3
GINN Goldman Sachs Innovate Equity ETF 0.3 52 3 3.8 -2.2
KLMN Invesco MSCI North America Climate ETF 0.3 9 46 4.4 -1.7
FDEM Fidelity Emerging Markets Multifactor ETF 0.3 25 30 10.8 +4.7
KGRN KraneShares MSCI China Clean Technology Index ETF 0.3 79 -24 3.8 -2.3
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 6 8.9 +2.9
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 6 4.7 -1.4
DWLD Davis Select Worldwide ETF 0.3 63 -8 6.8 +0.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.3 40 15 6.4 +0.3
DINT Davis Select International ETF 0.3 55 0 6.1 +0.1
TAN Invesco Solar ETF 0.3 67 -12 5.0 -1.1
RNRG Global X Renewable Energy Producers ETF 0.3 66 -11 4.7 -1.4
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 3.1 -3.0
QQMG Invesco ESG NASDAQ 100 ETF 0.2 20 35 3.3 -2.8
QQQM Invesco NASDAQ 100 ETF 0.2 15 40 3.4 -2.7
DTAN Sparkline International Intangible Value ETF 0.2 55 0 7.3 +1.3
QQQ Invesco QQQ Trust Series I 0.2 20 35 3.4 -2.7
CVY Invesco Zacks Multi-Asset Income ETF 0.2 106 -51 9.7 +3.7
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.2 80 -25 12.6 +6.5
EYLD Cambria Emerging Shareholder Yield ETF 0.2 66 -11 9.2 +3.1
FTAG First Trust Indxx Global Agriculture ETF 0.2 70 -15 7.0 +0.9
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 2.0 -4.1
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.2 90 -35 3.8 -2.3
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 37 0.0 -6.1
EWK iShares MSCI Belgium ETF 0.2 50 5 3.8 -2.2
TBLU Tortoise Global Water ESG ETF 0.2 40 15 4.5 -1.5
EFRA iShares Environmental Infrastructure and Industrials ETF 0.2 47 8 4.9 -1.1
AQWA Global X Clean Water ETF 0.2 50 5 5.0 -1.0
MCHI iShares MSCI China ETF 0.2 59 -4 21.0 +14.9
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.3 -1.8
JCHI JPMorgan Active China ETF 0.2 65 -10 15.6 +9.5
IUS Invesco RAFI Strategic US ETF 0.1 19 36 5.5 -0.6
ACVF American Conservative Values ETF 0.1 75 -20 3.8 -2.3
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 6.2 +0.1
ETEC iShares Breakthrough Environmental Solutions ETF 0.1 47 8 3.1 -2.9
IDRV iShares Self-driving EV & Tech ETF 0.1 47 8 1.6 -4.5
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.0 -3.0
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.1 22 33 5.7 -0.4
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -10 6.9 +0.9
FBCG Fidelity Blue Chip Growth ETF 0.1 59 -4 2.3 -3.8
UAE iShares MSCI UAE ETF 0.1 59 -4 0.0 -6.1

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 6.1 %
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.