Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 5.7% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 20.7x P/Sales
ratio		 1.1x
P/BV
ratio		 1.6x Div.
yield		 1.9%


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

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

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

SECTOR BREAKDOWN

 


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

TOP TEN HOLDINGS
ARCELORMITTAL SA 4.0 %
PRYSMIAN SPA 3.9 %
SHIN-ETSU CHEMICAL CO LTD 3.7 %
KOMATSU LTD 3.4 %
CELLNEX TELECOM S.A. 3.1 %
CANADIAN NATL RAILWAY CO 3.0 %
VINCI SA 3.0 %
CANADIAN PACIFIC KANSAS CITY LTD 3.0 %
CEMEX SAB-SPONS ADR PART CER 3.0 %
EPIROC AB CLASS A 3.0 %
Total 32.9 %

TOP COUNTRY EXPOSURE
INDIA 17.2 %
JAPAN 14.4 %
SPAIN 8.1 %
CANADA 7.9 %
ITALY 6.8 %
FRANCE 6.8 %
SOUTH KOREA 6.7 %
LUXEMBOURG 4.3 %
SWEDEN 4.1 %
CHINA 3.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
2.4% 25.7% -- -- 14.3%

Market Correlations
versus... Beta R-squared
S&P500 0.71 57%
MSCI EAFE 0.94 85%
MSCI Emg. Mkts. 0.77 74%

Technical Indicators
Recent close $32.66
30d moving avg. $30.94
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.6%
Bid/Ask (% of price) 0.43%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 404 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™: 5.7%


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
(%)
FEUZ First Trust Eurozone AlphaDEX ETF 8.8 80 -25 6.5 +0.8
FEP First Trust Europe AlphaDEX Fund 8.8 80 -25 6.8 +1.1
JIVE JPMorgan International Value ETF 8.7 55 0 8.4 +2.8
PICK iShares MSCI Global Metals & Mining Producers ETF 8.3 39 16 7.9 +2.3
NFTY First Trust India NIFTY 50 Equal Weight ETF 7.9 80 -25 4.7 -1.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.7 65 -10 7.8 +2.2
MXI iShares Global Materials ETF 7.3 41 14 5.8 +0.1
AIVI WisdomTree International AI Enhanced Value Fund 7.3 58 -3 6.2 +0.6
EWP iShares MSCI Spain ETF 7.0 50 5 5.9 +0.3
SUPL ProShares Supply Chain Logistics ETF 6.9 58 -3 7.6 +1.9
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.7 47 8 5.0 -0.7
INDA iShares MSCI India ETF 6.6 65 -10 4.4 -1.3
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.6 46 9 5.1 -0.6
IVAL Alpha Architect International Quantitative Value ETF 6.5 49 6 7.7 +2.0
PIN Invesco India ETF 6.4 78 -23 4.6 -1.1
INDY iShares India 50 ETF 6.3 89 -34 5.0 -0.7
ITOL Tema International Durable Quality ETF 6.1 60 -5 4.9 -0.7
SHPP Pacer Industrials and Logistics ETF 6.0 60 -5 6.9 +1.2
FLIN Franklin FTSE India ETF 6.0 19 36 4.0 -1.7
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.9 58 -3 3.5 -2.2
INEQ Columbia International Equity Income ETF 5.6 45 10 7.7 +2.0
EPI WisdomTree India Earnings Fund 5.4 85 -30 4.9 -0.8
NDIA Global X India Active ETF 5.3 75 -20 4.8 -0.9
SRVR Pacer Data & Infrastructure Real Estate ETF 5.3 55 0 3.6 -2.1
POW VistaShares Electrification Supercycle ETF 5.2 75 -20 2.1 -3.6
IQRA IQ CBRE Real Assets ETF 5.1 65 -10 5.8 +0.1
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.0 58 -3 7.2 +1.5
DSTX Distillate International Fundamental Stability & Value ETF 4.8 55 0 6.4 +0.8
OSEA Harbor International Compounders ETF 4.8 55 0 4.1 -1.5
EWQ iShares MSCI France ETF 4.7 53 2 6.5 +0.8
AVIV Avantis International Large Cap Value ETF 4.7 25 30 7.0 +1.3
FLCA Franklin FTSE Canada ETF 4.7 9 46 5.4 -0.2
FIVA Fidelity International Value Factor ETF 4.5 18 37 7.5 +1.9
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 4.5 24 31 6.8 +1.2
EWI iShares MSCI Italy ETF 4.5 50 5 10.5 +4.8
FIDI Fidelity International High Dividend ETF 4.5 18 37 7.2 +1.5
JHMD John Hancock Multifactor Developed International ETF 4.4 39 16 6.2 +0.5
HEDJ WisdomTree Europe Hedged Equity Fund 4.4 58 -3 6.0 +0.4
BBCA JPMorgan BetaBuilders Canada ETF 4.3 19 36 5.4 -0.3
RNEM First Trust Emerging Markets Equity Select ETF 4.1 75 -20 7.6 +1.9
PBD Invesco Global Clean Energy ETF 4.1 75 -20 0.2 -5.5
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.0 80 -25 6.8 +1.1
TOLL Tema Durable Quality ETF 4.0 75 -20 4.0 -1.7
VCLN Virtus Duff & Phelps Clean Energy ETF 4.0 59 -4 2.5 -3.2
OTGL OTG Latin America ETF 3.9 269 -214 7.1 +1.4
PPIE Putnam PanAgora ESG International Equity ETF 3.9 49 6 6.5 +0.8
WTRE WisdomTree New Economy Real Estate Fund 3.8 58 -3 -0.3 -6.0
IEUS iShares MSCI Europe Small-Cap ETF 3.8 42 13 6.6 +0.9
UIVM VictoryShares International Value Momentum ETF 3.8 35 20 8.3 +2.6
NXTG First Trust Indxx NextG ETF 3.6 70 -15 4.2 -1.5
DFIV Dimensional International Value ETF 3.5 27 28 7.8 +2.1
CGIE Capital Group International Equity ETF 3.4 54 1 4.6 -1.0
TPIF Timothy Plan International ETF 3.4 62 -7 5.5 -0.2
DXJ WisdomTree Japan Hedged Equity Fund 3.4 48 7 5.5 -0.2
JPXN iShares JPX-Nikkei 400 ETF 3.4 48 7 5.6 -0.1
AVDV Avantis International Small Cap Value ETF 3.4 36 19 7.7 +2.1
FAN First Trust Global Wind Energy ETF 3.4 60 -5 2.7 -3.0
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.3 58 -3 5.4 -0.3
EZU iShares MSCI Eurozone ETF 3.3 52 3 5.7 -0.0
AVDE Avantis International Equity ETF 3.3 23 32 6.2 +0.5
INTF iShares International Equity Factor ETF 3.3 15 40 6.5 +0.8
IQDG WisdomTree International Quality Dividend Growth Fund 3.3 42 13 5.7 +0.0
KNO AXS Knowledge Leaders ETF 3.2 78 -23 4.4 -1.2
AVES Avantis Emerging Markets Value ETF 3.2 36 19 8.9 +3.2
UMMA Wahed Dow Jones Islamic World ETF 3.2 65 -10 3.8 -1.8
JIG JPMorgan International Growth ETF 3.2 55 0 3.6 -2.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.1 45 10 5.7 +0.0
FNDF Schwab Fundamental International Large Co. Index ETF 3.1 25 30 7.6 +1.9
TMFG Motley Fool Global Opportunities ETF 3.0 85 -30 3.7 -1.9
SCHY Schwab International Dividend Equity ETF 3.0 14 41 8.3 +2.6
GKAT Scharf Global Opportunity ETF 3.0 57 -2 5.8 +0.1
ASLV Allspring Special Large Value ETF 3.0 35 20 5.2 -0.5
FBOT Fidelity Disruptive Automation ETF 3.0 50 5 2.9 -2.7
EFG iShares MSCI EAFE Growth ETF 3.0 36 19 3.8 -1.9
IVLU iShares MSCI Intl Value Factor ETF 2.9 30 25 8.2 +2.5
JHID John Hancock International High Dividend ETF 2.9 46 9 7.9 +2.3
EXI iShares Global Industrials ETF 2.9 42 13 3.6 -2.1
IGRO iShares International Dividend Growth ETF 2.9 15 40 6.7 +1.1
GCOW Pacer Global Cash Cows Dividend ETF 2.9 60 -5 9.2 +3.5
BKCI BNY Mellon Concentrated International ETF 2.9 80 -25 4.9 -0.8
SCZ iShares MSCI EAFE Small-Cap ETF 2.8 40 15 6.1 +0.4
DFEV Dimensional Emerging Markets Value ETF 2.8 43 12 9.8 +4.1
FJP First Trust Japan AlphaDEX Fund 2.8 80 -25 7.6 +1.9
DFIS Dimensional International Small Cap ETF 2.8 39 16 6.1 +0.4
EWJ iShares MSCI Japan ETF 2.7 50 5 5.1 -0.6
FLSW Franklin FTSE Switzerland ETF 2.7 9 46 5.7 +0.1
FSZ First Trust Switzerland AlphaDEX Fund 2.7 80 -25 5.1 -0.6
ICPY Tweedy, Browne International Insider Value ETF 2.7 80 -25 21.9 +16.2
DFIC Dimensional International Core Equity 2 ETF 2.7 23 32 6.2 +0.6
QINT American Century Quality Diversified International ETF 2.7 39 16 6.6 +0.9
DXIV Dimensional International Vector Equity ETF 2.7 34 21 6.6 +0.9
AVDS Avantis International Small Cap Equity ETF 2.7 30 25 6.0 +0.3
IVSI Applied Finance IVS International LrgETF 2.7 65 -10 6.1 +0.4
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -3 6.2 +0.6
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.6 65 -10 4.0 -1.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 2.6 9 46 7.6 +1.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.6 25 30 6.3 +0.6
AADR AdvisorShares Dorsey Wright ADR ETF 2.6 110 -55 2.9 -2.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 8.4 +2.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.6 45 10 6.9 +1.3
STXI Strive International Developed Markets ETF 2.6 29 26 6.2 +0.5
SCHC Schwab International Small-Cap Equity ETF 2.6 11 44 6.5 +0.8
JPIN J.P. Morgan Diversified Return International Equity ETF 2.6 37 18 7.1 +1.4
EWL iShares MSCI Switzerland ETF 2.5 50 5 5.5 -0.2
BBJP JPMorgan BetaBuilders Japan ETF 2.5 19 36 5.5 -0.2
SPEU SPDR Portfolio Europe ETF 2.5 7 48 6.5 +0.8
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.5 35 20 5.7 +0.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.5 25 30 5.7 -0.0
ARKX ARK Space Exploration & Innovation ETF 2.5 75 -20 -0.0 -5.7
EWJV iShares MSCI Japan Value ETF 2.5 15 40 7.2 +1.6
FLJP Franklin FTSE Japan ETF 2.5 9 46 5.6 -0.1
FDEV Fidelity International Multifactor ETF 2.5 18 37 7.1 +1.4
DFAI Dimensional International Core Equity Market ETF 2.5 18 37 6.0 +0.4
RGEF Rockefeller Global Equity ETF 2.5 55 0 3.9 -1.7
OAIM OneAscent International Equity ETF 2.5 95 -40 4.6 -1.1
VGK Vanguard FTSE Europe ETF 2.5 6 49 6.5 +0.9
CCNR ALPS CoreCommodity Natural Resources ETF 2.5 39 16 8.0 +2.3
CIL VictoryShares International Volatility Wtd ETF 2.5 45 10 5.8 +0.1
DISV Dimensional International Small Cap Value ETF 2.5 42 13 8.2 +2.5
DMXF iShares ESG Advanced MSCI EAFE ETF 2.5 12 43 5.0 -0.7
DGT State Street SPDR Global Dow ETF 2.5 50 5 5.8 +0.2
DTH WisdomTree International High Dividend Fund 2.4 58 -3 7.3 +1.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.4 39 16 6.2 +0.5
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.4 42 13 4.0 -1.6
IEUR iShares Core MSCI Europe ETF 2.4 11 44 6.3 +0.7
IDLV Invesco S&P International Developed Low Volatility ETF 2.4 25 30 6.2 +0.5
FLJH Franklin FTSE Japan Hedged ETF 2.4 9 46 5.3 -0.4
IMFL Invesco International Developed Dynamic Multifactor ETF 2.4 34 21 5.2 -0.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 25 6.4 +0.7
EWC iShares MSCI Canada ETF 2.3 50 5 5.1 -0.6
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.3 47 8 4.9 -0.8
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 31 5.9 +0.2
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.3 20 35 5.6 -0.1
FEM First Trust Emerging Markets AlphaDEX Fund 2.3 80 -25 8.5 +2.9
DIHP Dimensional International High Profitability ETF 2.3 29 26 5.7 +0.1
BKIE BNY Mellon International Equity ETF 2.3 4 51 6.0 +0.4
IEV iShares Europe ETF 2.3 67 -12 5.8 +0.2
EWD iShares MSCI Sweden ETF 2.3 54 1 4.8 -0.9
SPDW SPDR Portfolio Developed World ex-US ETF 2.3 3 52 5.9 +0.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.3 47 8 7.4 +1.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.3 14 41 5.4 -0.3
COPY Tweedy, Browne Insider + Value ETF 2.2 80 -25 15.1 +9.5
DOL WisdomTree International LargeCap Dividend Fund 2.2 48 7 5.8 +0.1
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.2 80 -25 3.5 -2.2
FNDC Schwab Fundamental International Small Co. Index ETF 2.2 39 16 6.7 +1.1
XC WisdomTree Emerging Markets Ex-China Fund 2.2 32 23 6.1 +0.4
FRGN Horizon International Equity ETF 2.2 75 -20 8.1 +2.5
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.2 48 7 4.6 -1.1
WWJD Inspire International ETF 2.2 80 -25 6.1 +0.5
VEA Vanguard FTSE Developed Markets ETF 2.2 3 52 6.0 +0.4
IDEV iShares Core MSCI International Developed Markets ETF 2.2 4 51 6.0 +0.4
IEFA iShares Core MSCI EAFE ETF 2.2 7 48 6.1 +0.4
DIVI Franklin International Core Dividend Tilt Index ETF 2.2 9 46 6.6 +0.9
FICS First Trust International Developed Capital Strength ETF 2.2 70 -15 6.6 +1.0
AVSD Avantis Responsible International Equity ETF 2.2 23 32 5.9 +0.3
FLKR Franklin FTSE South Korea ETF 2.2 9 46 5.0 -0.7
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.2 12 43 5.3 -0.4
SCHF Schwab International Equity ETF 2.2 6 49 6.1 +0.4
VWID Virtus WMC International Dividend ETF 2.2 49 6 7.2 +1.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 6 6.0 +0.3
BKF iShares MSCI BIC ETF 2.1 69 -14 13.4 +7.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 15 5.7 0.0
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.1 33 22 6.4 +0.7
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.2 +0.5
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.3 +0.6
ECON Columbia Emerging Markets Consumer ETF 2.1 49 6 7.0 +1.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.1 46 9 5.6 -0.1
EFA iShares MSCI EAFE ETF 2.1 35 20 5.8 +0.1
DWM WisdomTree International Equity Fund 2.1 48 7 5.6 -0.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.1 24 31 5.6 -0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 6.2 +0.5
ISCF iShares International SmallCap Equity Factor ETF 2.0 23 32 7.2 +1.5
LVHI Franklin International Low Volatility High Dividend Index ET 2.0 40 15 7.6 +1.9
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 13.4 +7.7
FCA First Trust China AlphaDEX Fund 2.0 80 -25 6.9 +1.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.0 39 16 13.5 +7.9
VXUS Vanguard Total International Stock ETF 2.0 5 50 6.7 +1.0
DFSI Dimensional International Sustainability Core 1 ETF 2.0 24 31 5.6 -0.1
PIEL Pacer International Export Leaders ETF 2.0 60 -5 4.3 -1.4
BINV Brandes International ETF 2.0 70 -15 8.4 +2.8
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.0 18 37 6.4 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.0 41 14 6.1 +0.5
FYLD Cambria Foreign Shareholder Yield ETF 2.0 59 -4 10.2 +4.5
HFXI IQ FTSE International Equity Currency Neutral ETF 2.0 20 35 5.8 +0.1
VEU Vanguard FTSE All-World ex-US Index Fund 2.0 4 51 6.8 +1.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 2.0 8 47 6.2 +0.5
AVEM Avantis Emerging Markets Equity ETF 1.9 33 22 7.2 +1.6
GSID Goldman Sachs MarketBeta International Equity ETF 1.9 20 35 5.9 +0.2
VPL Vanguard FTSE Pacific ETF 1.9 7 48 5.5 -0.2
PATN Pacer Nasdaq International Patent Leaders ETF 1.9 65 -10 4.6 -1.1
IPAC iShares Core MSCI Pacific ETF 1.9 9 46 5.6 -0.1
NETZ TCW Transform Systems ETF 1.9 75 -20 1.3 -4.4
IDOG ALPS International Sector Dividend Dogs ETF 1.9 50 5 9.2 +3.5
SCJ iShares MSCI Japan Small-Cap ETF 1.9 50 5 5.8 +0.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 7.0 +1.3
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 6.6 +1.0
IBAT iShares Energy Storage & Materials ETF 1.9 47 8 1.6 -4.1
VIDI Vident International Equity Strategy ETF 1.9 61 -6 8.3 +2.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 36 19 5.5 -0.2
TNUK Tortoise Nuclear Renaissance ETF 1.9 75 -20 0.7 -5.0
FEZ SPDR EURO STOXX 50 ETF 1.9 29 26 5.8 +0.1
ACWX iShares MSCI ACWI ex U.S. ETF 1.8 34 21 6.4 +0.7
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.8 58 -3 6.4 +0.7
FDCF Fidelity Disruptive Communications ETF 1.8 50 5 1.9 -3.8
XCEM Columbia EM Core ex-China ETF 1.8 16 39 5.2 -0.5
VEXC Vanguard Emerging Markets Ex-China ETF 1.8 7 48 5.8 +0.1
JHEM John Hancock Multifactor Emerging Markets ETF 1.8 49 6 7.7 +2.1
IQLT iShares MSCI Intl Quality Factor ETF 1.8 30 25 5.4 -0.3
CWI SPDR MSCI ACWI ex-US ETF 1.8 30 25 6.5 +0.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.8 70 -15 6.3 +0.6
XCNY SPDR S&P Emerging Markets ex-China ETF 1.8 15 40 5.8 +0.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.8 32 23 5.0 -0.7
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.8 35 20 11.2 +5.5
IMTM iShares MSCI Intl Momentum Factor ETF 1.7 30 25 4.7 -1.0
NUDM Nuveen ESG International Developed Markets Equity ETF 1.7 31 24 5.6 -0.1
PID Invesco International Dividend Achievers ETF 1.7 53 2 4.1 -1.6
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.7 53 2 5.3 -0.4
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.7 58 -3 8.2 +2.6
FLAX Franklin FTSE Asia Ex Japan ETF 1.7 19 36 7.4 +1.7
FLGR Franklin FTSE Germany ETF 1.7 9 46 6.5 +0.8
SAGP Strategas Global Policy Opportunities ETF 1.7 65 -10 4.7 -1.0
JPEF JPMorgan Equity Focus ETF 1.7 50 5 3.8 -1.9
ESGD iShares ESG Aware MSCI EAFE ETF 1.6 20 35 5.8 +0.1
DFAE Dimensional Emerging Core Equity Market ETF 1.6 35 20 7.1 +1.4
VYMI Vanguard International High Dividend Yield ETF 1.6 17 38 8.0 +2.4
DLS WisdomTree International SmallCap Dividend Fund 1.6 58 -3 7.4 +1.7
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.6 38 17 7.1 +1.4
SMIN iShares MSCI India Small Cap ETF 1.6 79 -24 3.4 -2.3
IDMO Invesco S&P International Developed Momentum ETF 1.6 25 30 5.2 -0.5
EWG iShares MSCI Germany ETF 1.6 50 5 5.9 +0.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.3 -0.4
STXE Strive Emerging Markets Ex-China ETF 1.5 32 23 5.6 -0.0
EEMA iShares MSCI Emerging Markets Asia ETF 1.5 49 6 7.8 +2.2
NUKZ Range Nuclear Renaissance Index ETF 1.5 85 -30 1.3 -4.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.5 32 23 7.6 +2.0
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.5 30 25 6.1 +0.4
EMXC iShares MSCI Emerging Markets ex China ETF 1.5 25 30 5.4 -0.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.5 11 44 8.1 +2.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.5 15 40 8.2 +2.5
OBOR KraneShares MSCI One Belt One Road Index ETF 1.5 79 -24 6.9 +1.2
VIGI Vanguard International Dividend Appreciation ETF 1.4 10 45 6.1 +0.4
DAX Global X DAX Germany ETF 1.4 21 34 6.1 +0.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.4 36 19 7.8 +2.1
FGM First Trust Germany AlphaDEX Fund 1.4 80 -25 4.8 -0.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.4 80 -25 8.9 +3.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.4 66 -11 7.5 +1.8
IQSI IQ Candriam International Equity ETF 1.4 15 40 5.6 -0.1
CZAR Themes Natural Monopoly ETF 1.4 35 20 5.3 -0.4
GMF SPDR S&P Emerging Asia Pacific ETF 1.4 49 6 8.8 +3.1
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.3 70 -15 3.9 -1.8
EDEN iShares MSCI Denmark ETF 1.3 53 2 6.3 +0.7
FPAG FPA Global Equity ETF 1.3 49 6 5.9 +0.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.3 70 -15 7.2 +1.6
VWO Vanguard FTSE Emerging Markets ETF 1.3 7 48 9.0 +3.4
EFV iShares MSCI EAFE Value ETF 1.3 34 21 7.6 +1.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.3 45 10 8.3 +2.6
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -33 8.0 +2.3
SCHE Schwab Emerging Markets Equity ETF 1.3 11 44 9.4 +3.7
EWUS iShares MSCI United Kingdom Small Cap ETF 1.3 59 -4 7.2 +1.5
IEMG iShares Core MSCI Emerging Markets ETF 1.3 9 46 8.3 +2.7
DEHP Dimensional Emerging Markets High Profitability ETF 1.3 41 14 5.0 -0.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 26 7.0 +1.3
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 6 4.5 -1.2
FENI Fidelity Enhanced International ETF 1.2 28 27 5.8 +0.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.2 44 11 9.1 +3.5
EEM iShares MSCI Emerging Markets ETF 1.2 69 -14 8.0 +2.3
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 8 7.7 +2.0
EWY iShares MSCI South Korea ETF 1.2 58 -3 3.9 -1.8
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.2 75 -20 6.5 +0.8
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 11 7.7 +2.1
FRNW Fidelity Clean Energy ETF 1.1 39 16 1.9 -3.8
IMOM Alpha Architect International Quantitative Momentum ETF 1.1 49 6 4.1 -1.6
SMOG VanEck Low Carbon Energy ETF 1.1 61 -6 1.1 -4.5
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 1.1 75 -20 5.9 +0.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 -4 8.6 +2.9
GEW Cambria Global EW ETF 1.1 29 26 5.5 -0.2
BLES Inspire Global Hope ETF 1.1 61 -6 5.7 +0.1
DTCR Global X Data Center & Digital Infrastructure ETF 1.1 50 5 3.5 -2.1
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 9.4 +3.7
EMGF iShares Emerging Markets Equity Factor ETF 1.0 25 30 9.2 +3.5
CGDG Capital Group Dividend Growers ETF 1.0 47 8 5.2 -0.5
GNR SPDR S&P Global Natural Resources ETF 1.0 40 15 8.2 +2.5
AGQI First Trust Active Global Quality Income ETF 1.0 85 -30 6.6 +0.9
WSML iShares MSCI World Small-Cap ETF 1.0 15 40 5.4 -0.3
DGIN VanEck Digital India ETF 1.0 71 -16 1.5 -4.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.0 30 25 8.2 +2.6
FID First Trust S&P International Dividend Aristocrats ETF 1.0 60 -5 7.9 +2.2
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 10 9.3 +3.6
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 20 3.7 -2.0
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.0 75 -20 2.0 -3.7
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 7.7 +2.0
EWT iShares MSCI Taiwan ETF 0.9 58 -3 3.6 -2.0
GLIN VanEck India Growth Leaders ETF 0.9 77 -22 5.2 -0.5
FKU First Trust United Kingdom AlphaDEX Fund 0.9 80 -25 7.1 +1.5
DFE WisdomTree Europe SmallCap Dividend Fund 0.9 58 -3 7.4 +1.7
EWO iShares MSCI Austria ETF 0.9 50 5 7.7 +2.1
GVAL Cambria Global Value ETF 0.9 68 -13 8.8 +3.1
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 13 4.3 -1.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.9 29 26 8.5 +2.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.9 70 -15 9.1 +3.4
DVYE iShares Emerging Markets Dividend ETF 0.8 49 6 16.8 +11.1
MJSC MUFG Japan Small Cap Active ETF 0.8 85 -30 4.9 -0.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.8 41 14 6.9 +1.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.8 12 43 4.5 -1.2
CVAR Cultivar ETF 0.8 87 -32 7.0 +1.3
ILF iShares Latin America 40 ETF 0.8 48 7 8.7 +3.0
DFJ WisdomTree Japan SmallCap Dividend Fund 0.8 58 -3 6.8 +1.1
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 13 7.4 +1.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.8 9 46 4.9 -0.7
VSGX Vanguard ESG International Stock ETF 0.8 10 45 6.7 +1.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.8 80 -25 5.4 -0.3
CGXU Capital Group International Focus Equity ETF 0.8 54 1 4.0 -1.7
DEW WisdomTree Global High Dividend Fund 0.8 58 -3 7.3 +1.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 7.8 +2.1
VT Vanguard Total World Stock ETF 0.8 6 49 5.1 -0.6
LDEM iShares ESG MSCI EM Leaders ETF 0.7 17 38 12.0 +6.4
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.7 50 5 5.6 -0.1
EUDV ProShares MSCI Europe Dividend Growers ETF 0.7 55 0 5.5 -0.2
FLAU Franklin FTSE Australia ETF 0.7 9 46 5.7 +0.0
WDIV SPDR S&P Global Dividend ETF 0.7 40 15 9.2 +3.5
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 35 5.6 -0.1
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -5 3.4 -2.3
EWM iShares MSCI Malaysia ETF 0.7 50 5 6.2 +0.5
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.7 90 -35 3.8 -1.9
EIS iShares MSCI Israel ETF 0.7 58 -3 6.2 +0.5
ISRA VanEck Israel ETF 0.7 59 -4 5.8 +0.1
ACWI iShares MSCI ACWI ETF 0.7 32 23 4.8 -0.9
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.7 45 10 -0.9 -6.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.7 80 -25 7.3 +1.6
GLOF iShares Global Equity Factor ETF 0.7 20 35 5.7 +0.0
WRND IQ Global Equity R&D Leaders ETF 0.7 18 37 4.1 -1.6
FDEM Fidelity Emerging Markets Multifactor ETF 0.7 25 30 10.5 +4.8
FLTW Franklin FTSE Taiwan ETF 0.6 19 36 4.1 -1.6
EYLD Cambria Emerging Shareholder Yield ETF 0.6 66 -11 9.3 +3.6
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 5.5 -0.2
URTH iShares MSCI World ETF 0.6 24 31 4.4 -1.3
CGW Invesco S&P Global Water Index ETF 0.6 57 -2 4.3 -1.3
EWN iShares MSCI Netherlands ETF 0.6 50 5 4.7 -1.0
CGV Conductor Global Equity Value ETF 0.6 130 -75 7.4 +1.7
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.1 -0.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.6 15 40 9.0 +3.4
IXP iShares Global Comm Services ETF 0.5 42 13 5.5 -0.2
QWLD SPDR MSCI World StrategicFactors ETF 0.5 30 25 5.2 -0.5
DEM WisdomTree Emerging Markets High Dividend Fund 0.5 63 -8 10.6 +4.9
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 36 19 6.0 +0.4
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.5 -1.2
OCEN IQ Clean Oceans ETF 0.5 45 10 4.5 -1.1
CLNR IQ Cleaner Transport ETF 0.5 45 10 3.9 -1.8
BRNY Burney U.S. Factor Rotation ETF Burney U.S. Factor Rotation 0.5 79 -24 4.2 -1.5
TOK iShares MSCI Kokusai ETF 0.5 26 29 4.4 -1.3
GWX SPDR S&P International Small Cap ETF 0.5 40 15 5.8 +0.1
JGLO JPMorgan Global Select Equity ETF 0.5 33 22 4.3 -1.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 35 5.7 +0.0
GLBL Pacer MSCI World Industry Advantage ETF 0.5 65 -10 3.5 -2.2
EPOL iShares MSCI Poland ETF 0.5 59 -4 8.9 +3.2
JADE JPMorgan Active Developing Markets Equity ETF 0.4 65 -10 6.2 +0.5
GXC SPDR S & P China ETF 0.4 59 -4 17.2 +11.5
FLCH Franklin FTSE China ETF 0.4 19 36 16.5 +10.8
ECNS iShares MSCI China Small-Cap ETF 0.4 59 -4 8.0 +2.4
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 22 6.9 +1.3
AVSE Avantis Responsible Emerging Markets Equity ETF 0.4 33 22 6.9 +1.2
APIE ActivePassive International Equity ETF 0.4 45 10 6.4 +0.8
EFNL iShares MSCI Finland ETF 0.4 56 -1 5.7 +0.1
EDIV SPDR S&P Emerging Markets Dividend ETF 0.4 49 6 8.8 +3.2
WLDR Affinity World Leaders Equity ETF 0.4 67 -12 6.3 +0.6
HAP VanEck Natural Resources ETF 0.4 50 5 6.6 +0.9
FRDM Freedom 100 Emerging Markets ETF 0.4 49 6 5.7 +0.0
AFK VanEck Africa Index ETF 0.4 98 -43 10.4 +4.7
NLR VanEck Uranium+Nuclear Energy ETF 0.4 61 -6 1.4 -4.3
URA Global X Uranium ETF 0.4 69 -14 0.6 -5.1
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.4 19 36 5.3 -0.4
DWMF WisdomTree International Multifactor Fund 0.4 38 17 6.7 +1.0
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.3 80 -25 11.2 +5.5
GREK Global X MSCI Greece ETF 0.3 57 -2 9.5 +3.8
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.3 25 30 5.5 -0.2
MCHI iShares MSCI China ETF 0.3 59 -4 18.7 +13.0
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 10.1 +4.4
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -15 6.9 +1.2
DTAN Sparkline International Intangible Value ETF 0.3 55 0 7.2 +1.5
EMXF iShares ESG Advanced MSCI EM ETF 0.3 16 39 7.0 +1.3
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 3.5 -2.1
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.3 20 35 0.8 -4.9
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 37 0.0 -5.7
IPKW Invesco International BuyBack Achievers ETF 0.2 55 0 8.1 +2.4
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 26 7.2 +1.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 4.8 -0.9
ESGE iShares ESG Aware MSCI EM ETF 0.2 25 30 8.5 +2.8
EMMF WisdomTree Emerging Markets Multifactor Fund 0.2 48 7 8.7 +3.0
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.6 -0.1
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 2.3 -3.4
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 4.4 -1.3
PRNT 3D Printing ETF 0.2 66 -11 1.3 -4.4
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.2 -1.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -10 6.3 +0.7
EWZS iShares MSCI Brazil Small-Cap ETF 0.1 59 -4 9.8 +4.1
FLBR Franklin FTSE Brazil ETF 0.1 19 36 10.2 +4.5
FLLA Franklin FTSE Latin America ETF 0.1 19 36 9.6 +3.9
ACVF American Conservative Values ETF 0.1 75 -20 3.8 -1.9
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.0 -2.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 6.3 +0.6
IUS Invesco RAFI Strategic US ETF 0.1 19 36 5.8 +0.1
IDX VanEck Indonesia Index ETF 0.1 57 -2 7.4 +1.7
TUR iShares MSCI Turkey ETF 0.1 58 -3 11.7 +6.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.1 40 15 6.4 +0.8

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 1.5 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 5.7 %
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.