Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 5.6% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 20.9x 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) $6
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 99
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 3.2 %
CANADIAN PACIFIC KANSAS CITY LTD 3.2 %
ARCELORMITTAL SA 3.2 %
SHIN-ETSU CHEMICAL CO LTD 3.2 %
HEIDELBERGCEMENT AG 3.1 %
LARSEN & TOUBRO LIMITED 3.1 %
VINCI SA 3.1 %
GRUPO FERROVIAL 3.0 %
HOLCIM LTD-REG 3.0 %
FUJIKURA LTD 3.0 %
Total 31.1 %

TOP COUNTRY EXPOSURE
INDIA 19.8 %
JAPAN 12.7 %
SOUTH KOREA 8.2 %
CANADA 7.9 %
SPAIN 7.1 %
FRANCE 6.4 %
ITALY 5.2 %
LUXEMBOURG 3.5 %
GERMANY 3.1 %
SWITZERLAND 3.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
15.8% 31.3% -- -- 21.1%

Market Correlations
versus... Beta R-squared
S&P500 1.07 55%
MSCI EAFE 1.02 80%
MSCI Emg. Mkts. 0.73 72%

Technical Indicators
Recent close $33.04
30d moving avg. $33.88
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 47

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 410 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™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IPAV
Ticker Fund
Name		 Overlap1
vs IPAV
(%)		 Expense
ratio
(bp)		 Savings
vs IPAV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IPAV
(%)
SLX VanEck Steel ETF 9.8 56 -1 9.9 +4.2
PICK iShares MSCI Global Metals & Mining Producers ETF 8.8 39 16 7.7 +2.1
INDY iShares India 50 ETF 8.5 89 -34 5.4 -0.3
INDA iShares MSCI India ETF 8.4 65 -10 4.6 -1.0
EPI WisdomTree India Earnings Fund 7.9 85 -30 5.2 -0.5
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 7.8 58 -3 3.3 -2.3
MXI iShares Global Materials ETF 7.7 41 14 5.9 +0.2
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.6 65 -10 7.8 +2.1
FLIN Franklin FTSE India ETF 7.5 19 36 4.2 -1.5
FEUZ First Trust Eurozone AlphaDEX ETF 7.3 80 -25 6.3 +0.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.3 47 8 4.9 -0.7
SUPL ProShares Supply Chain Logistics ETF 7.2 58 -3 7.5 +1.8
PIN Invesco India ETF 7.2 78 -23 4.8 -0.8
FEP First Trust Europe AlphaDEX Fund 6.7 80 -25 6.6 +1.0
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.7 46 9 5.0 -0.6
AIVI WisdomTree International AI Enhanced Value Fund 6.6 58 -3 6.2 +0.6
JIVE JPMorgan International Value ETF 6.5 55 0 8.2 +2.5
SHPP Pacer Industrials and Logistics ETF 6.4 60 -5 6.6 +0.9
EWP iShares MSCI Spain ETF 5.8 50 5 5.8 +0.2
INEQ Columbia International Equity Income ETF 5.7 45 10 7.8 +2.1
NDIA Global X India Active ETF 5.6 75 -20 5.2 -0.4
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.5 58 -3 7.3 +1.6
FIVA Fidelity International Value Factor ETF 5.1 18 37 7.1 +1.5
SRVR Pacer Data & Infrastructure Real Estate ETF 5.0 55 0 3.8 -1.9
EWQ iShares MSCI France ETF 4.9 53 2 6.3 +0.7
IQRA IQ CBRE Real Assets ETF 4.9 65 -10 5.8 +0.2
POW VistaShares Electrification Supercycle ETF 4.9 75 -20 1.9 -3.7
FLCA Franklin FTSE Canada ETF 4.9 9 46 5.4 -0.2
DSTX Distillate International Fundamental Stability & Value ETF 4.9 55 0 6.6 +0.9
RNEM First Trust Emerging Markets Equity Select ETF 4.8 75 -20 8.0 +2.4
BBCA JPMorgan BetaBuilders Canada ETF 4.6 19 36 5.3 -0.3
HEDJ WisdomTree Europe Hedged Equity Fund 4.6 58 -3 5.8 +0.1
JHMD John Hancock Multifactor Developed International ETF 4.5 39 16 6.1 +0.5
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 4.4 80 -25 3.5 -2.2
FLKR Franklin FTSE South Korea ETF 4.4 9 46 3.7 -1.9
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.1 80 -25 6.4 +0.8
TNUK Tortoise Nuclear Renaissance ETF 4.0 75 -20 0.9 -4.8
UIVM VictoryShares International Value Momentum ETF 4.0 35 20 8.1 +2.4
IEUS iShares MSCI Europe Small-Cap ETF 3.9 42 13 6.6 +1.0
IQDG WisdomTree International Quality Dividend Growth Fund 3.9 42 13 5.7 +0.0
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.9 58 -3 5.3 -0.4
XC WisdomTree Emerging Markets Ex-China Fund 3.7 32 23 6.5 +0.8
AVIV Avantis International Large Cap Value ETF 3.7 25 30 6.9 +1.3
PPIE Putnam PanAgora ESG International Equity ETF 3.7 49 6 6.2 +0.6
OTGL OTG Latin America ETF 3.7 269 -214 7.6 +2.0
TPIF Timothy Plan International ETF 3.7 62 -7 5.5 -0.1
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 3.6 24 31 6.8 +1.2
PBD Invesco Global Clean Energy ETF 3.6 75 -20 0.2 -5.4
TOLL Tema Durable Quality ETF 3.5 75 -20 3.7 -1.9
AVDE Avantis International Equity ETF 3.5 23 32 6.2 +0.6
EWI iShares MSCI Italy ETF 3.5 50 5 10.4 +4.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.5 42 13 3.9 -1.7
WTRE WisdomTree New Economy Real Estate Fund 3.5 58 -3 -0.3 -6.0
JPXN iShares JPX-Nikkei 400 ETF 3.4 48 7 5.4 -0.3
VCLN Virtus Duff & Phelps Clean Energy ETF 3.4 59 -4 2.3 -3.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.4 45 10 5.4 -0.2
SAGP Strategas Global Policy Opportunities ETF 3.4 65 -10 4.9 -0.8
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 3.4 25 30 5.5 -0.2
BBJP JPMorgan BetaBuilders Japan ETF 3.4 19 36 5.2 -0.4
DFIV Dimensional International Value ETF 3.3 27 28 7.7 +2.1
EXI iShares Global Industrials ETF 3.3 42 13 3.6 -2.1
FJP First Trust Japan AlphaDEX Fund 3.2 80 -25 7.5 +1.9
ASLV Allspring Special Large Value ETF 3.2 35 20 5.2 -0.5
FLJH Franklin FTSE Japan Hedged ETF 3.2 9 46 5.0 -0.6
FLJP Franklin FTSE Japan ETF 3.2 9 46 5.3 -0.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 3.2 50 5 7.9 +2.2
BKCI BNY Mellon Concentrated International ETF 3.2 80 -25 4.8 -0.9
DXJ WisdomTree Japan Hedged Equity Fund 3.2 48 7 5.3 -0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.1 39 16 6.1 +0.5
SCHY Schwab International Dividend Equity ETF 3.1 14 41 8.3 +2.6
GKAT Scharf Global Opportunity ETF 3.1 57 -2 5.7 +0.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 3.1 47 8 4.6 -1.1
IVAL Alpha Architect International Quantitative Value ETF 3.0 49 6 7.6 +2.0
FSZ First Trust Switzerland AlphaDEX Fund 3.0 80 -25 5.1 -0.6
EZU iShares MSCI Eurozone ETF 3.0 52 3 5.4 -0.2
HEZU iShares Currency Hedged MSCI Eurozone ETF 3.0 53 2 5.3 -0.4
EFG iShares MSCI EAFE Growth ETF 3.0 36 19 3.7 -2.0
SCZ iShares MSCI EAFE Small-Cap ETF 3.0 40 15 6.0 +0.4
NXTG First Trust Indxx NextG ETF 3.0 70 -15 3.4 -2.3
FRGN Horizon International Equity ETF 3.0 75 -20 7.6 +1.9
RAYJ Rayliant SMDAM Japan Equity ETF 3.0 72 -17 3.0 -2.6
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 3.0 79 -24 3.6 -2.0
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.9 65 -10 4.0 -1.6
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.9 24 31 5.0 -0.6
FAN First Trust Global Wind Energy ETF 2.9 60 -5 2.8 -2.9
BKF iShares MSCI BIC ETF 2.9 69 -14 14.8 +9.1
FNDF Schwab Fundamental International Large Co. Index ETF 2.9 25 30 7.2 +1.6
TMFG Motley Fool Global Opportunities ETF 2.9 85 -30 3.7 -1.9
DFEV Dimensional Emerging Markets Value ETF 2.9 43 12 9.0 +3.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 2.9 80 -25 6.4 +0.7
AVDV Avantis International Small Cap Value ETF 2.9 36 19 7.7 +2.1
INTF iShares International Equity Factor ETF 2.8 15 40 6.4 +0.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.8 32 23 4.6 -1.0
AADR AdvisorShares Dorsey Wright ADR ETF 2.8 110 -55 3.1 -2.6
ILF iShares Latin America 40 ETF 2.8 48 7 9.6 +3.9
EWJ iShares MSCI Japan ETF 2.8 50 5 4.8 -0.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.8 47 8 7.0 +1.4
HEWJ iShares Currency Hedged MSCI Japan ETF 2.7 50 5 5.3 -0.3
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -3 6.2 +0.6
EWL iShares MSCI Switzerland ETF 2.7 50 5 5.4 -0.3
DFIS Dimensional International Small Cap ETF 2.7 39 16 6.1 +0.4
DFAI Dimensional International Core Equity Market ETF 2.6 18 37 5.9 +0.3
STXI Strive International Developed Markets ETF 2.6 29 26 6.2 +0.6
DFIC Dimensional International Core Equity 2 ETF 2.6 23 32 6.1 +0.5
NUEM Nuveen ESG Emerging Markets Equity ETF 2.6 36 19 5.9 +0.2
EWY iShares MSCI South Korea ETF 2.6 58 -3 2.8 -2.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 2.6 29 26 6.9 +1.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.6 30 25 6.2 +0.6
AVES Avantis Emerging Markets Value ETF 2.6 36 19 8.7 +3.0
WWJD Inspire International ETF 2.6 80 -25 6.3 +0.6
URA Global X Uranium ETF 2.5 69 -14 0.9 -4.8
FLSW Franklin FTSE Switzerland ETF 2.5 9 46 5.6 -0.0
UMMA Wahed Dow Jones Islamic World ETF 2.5 65 -10 3.3 -2.3
XCEM Columbia EM Core ex-China ETF 2.5 16 39 4.7 -1.0
AVDS Avantis International Small Cap Equity ETF 2.5 30 25 6.0 +0.4
JHEM John Hancock Multifactor Emerging Markets ETF 2.5 49 6 7.2 +1.6
CIL VictoryShares International Volatility Wtd ETF 2.5 45 10 5.8 +0.2
IGRO iShares International Dividend Growth ETF 2.5 15 40 6.7 +1.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.5 25 30 6.2 +0.5
HFXI IQ FTSE International Equity Currency Neutral ETF 2.5 20 35 5.5 -0.2
FIDI Fidelity International High Dividend ETF 2.5 18 37 7.1 +1.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.5 45 10 6.6 +1.0
EMDM First Trust Bloomberg Emerging Market Democracies ETF 2.4 75 -20 6.0 +0.3
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.4 35 20 5.6 -0.1
JPIN J.P. Morgan Diversified Return International Equity ETF 2.4 37 18 7.0 +1.3
GLIN VanEck India Growth Leaders ETF 2.4 77 -22 5.4 -0.2
BKIE BNY Mellon International Equity ETF 2.4 4 51 5.9 +0.3
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.4 48 7 4.7 -1.0
QINT American Century Quality Diversified International ETF 2.4 39 16 6.5 +0.9
DXIV Dimensional International Vector Equity ETF 2.4 34 21 6.5 +0.9
FEM First Trust Emerging Markets AlphaDEX Fund 2.4 80 -25 8.7 +3.1
EWC iShares MSCI Canada ETF 2.3 50 5 5.1 -0.6
IDLV Invesco S&P International Developed Low Volatility ETF 2.3 25 30 6.3 +0.6
SPEU SPDR Portfolio Europe ETF 2.3 7 48 6.3 +0.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.3 32 23 7.1 +1.5
VGK Vanguard FTSE Europe ETF 2.3 6 49 6.4 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.3 41 14 5.9 +0.2
SPDW SPDR Portfolio Developed World ex-US ETF 2.3 3 52 5.7 +0.0
DISV Dimensional International Small Cap Value ETF 2.3 42 13 8.0 +2.4
SCHF Schwab International Equity ETF 2.2 6 49 5.8 +0.1
CCNR ALPS CoreCommodity Natural Resources ETF 2.2 39 16 8.1 +2.5
PXH Invesco FTSE RAFI Emerging Markets ETF 2.2 49 6 13.2 +7.6
VEA Vanguard FTSE Developed Markets ETF 2.2 3 52 5.8 +0.2
IVLU iShares MSCI Intl Value Factor ETF 2.2 30 25 7.9 +2.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.2 18 37 6.4 +0.8
SCHC Schwab International Small-Cap Equity ETF 2.2 11 44 6.6 +0.9
IEUR iShares Core MSCI Europe ETF 2.2 11 44 6.2 +0.6
VEXC Vanguard Emerging Markets Ex-China ETF 2.2 7 48 5.6 -0.0
VPL Vanguard FTSE Pacific ETF 2.2 7 48 5.0 -0.6
CGXU Capital Group International Focus Equity ETF 2.2 54 1 3.7 -2.0
IDMO Invesco S&P International Developed Momentum ETF 2.2 25 30 5.2 -0.4
FPAG FPA Global Equity ETF 2.2 49 6 5.8 +0.1
DTH WisdomTree International High Dividend Fund 2.2 58 -3 7.2 +1.6
DOL WisdomTree International LargeCap Dividend Fund 2.2 48 7 5.5 -0.1
ECON Columbia Emerging Markets Consumer ETF 2.2 49 6 6.2 +0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.2 40 15 5.6 -0.0
DMXF iShares ESG Advanced MSCI EAFE ETF 2.2 12 43 4.8 -0.9
IMTM iShares MSCI Intl Momentum Factor ETF 2.1 30 25 4.6 -1.1
IEV iShares Europe ETF 2.1 67 -12 5.7 +0.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.1 14 41 5.3 -0.3
IDEV iShares Core MSCI International Developed Markets ETF 2.1 4 51 5.9 +0.3
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.1 20 35 5.5 -0.1
NUDM Nuveen ESG International Developed Markets Equity ETF 2.1 31 24 5.5 -0.2
GSID Goldman Sachs MarketBeta International Equity ETF 2.1 20 35 5.8 +0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 6.1 +0.5
IEFA iShares Core MSCI EAFE ETF 2.1 7 48 5.9 +0.3
DWM WisdomTree International Equity Fund 2.1 48 7 5.6 -0.1
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.1 33 22 5.8 +0.2
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.1 +0.5
GCOW Pacer Global Cash Cows Dividend ETF 2.1 60 -5 9.3 +3.6
DIVI Franklin International Core Dividend Tilt Index ETF 2.1 9 46 6.5 +0.8
VEU Vanguard FTSE All-World ex-US Index Fund 2.1 4 51 6.6 +0.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.1 39 16 13.5 +7.8
VXUS Vanguard Total International Stock ETF 2.1 5 50 6.5 +0.8
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.1 +0.4
XCNY SPDR S&P Emerging Markets ex-China ETF 2.1 15 40 5.6 -0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.1 36 19 5.2 -0.4
DFAE Dimensional Emerging Core Equity Market ETF 2.1 35 20 6.7 +1.0
JPEF JPMorgan Equity Focus ETF 2.1 50 5 3.8 -1.8
FRNW Fidelity Clean Energy ETF 2.1 39 16 1.8 -3.9
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.0 46 9 5.4 -0.3
JIG JPMorgan International Growth ETF 2.0 55 0 3.5 -2.1
DIHP Dimensional International High Profitability ETF 2.0 29 26 5.6 -0.0
AVEM Avantis Emerging Markets Equity ETF 2.0 33 22 6.7 +1.1
DEHP Dimensional Emerging Markets High Profitability ETF 2.0 41 14 4.5 -1.1
AVSD Avantis Responsible International Equity ETF 2.0 23 32 5.9 +0.3
FLAX Franklin FTSE Asia Ex Japan ETF 2.0 19 36 6.8 +1.2
IPAC iShares Core MSCI Pacific ETF 2.0 9 46 5.4 -0.2
EEMA iShares MSCI Emerging Markets Asia ETF 2.0 49 6 7.2 +1.6
IMFL Invesco International Developed Dynamic Multifactor ETF 2.0 34 21 5.0 -0.6
EMXC iShares MSCI Emerging Markets ex China ETF 2.0 25 30 4.8 -0.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 2.0 15 40 7.7 +2.0
IVSI Applied Finance IVS International Large ETF 2.0 65 -10 5.8 +0.2
STXE Strive Emerging Markets Ex-China ETF 2.0 32 23 4.9 -0.8
EFA iShares MSCI EAFE ETF 1.9 35 20 5.6 -0.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.9 12 43 5.2 -0.5
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 6.4 +0.8
HEFA iShares Currency Hedged MSCI EAFE ETF 1.9 35 20 5.6 0.0
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.9 60 -5 6.5 +0.9
FLBR Franklin FTSE Brazil ETF 1.9 19 36 12.0 +6.3
BRAZ Global X Brazil Active ETF 1.9 75 -20 10.7 +5.0
EWZ iShares MSCI Brazil ETF 1.9 58 -3 10.9 +5.3
FTHF First Trust Emerging Markets Human Flourishing ETF 1.9 75 -20 5.3 -0.3
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 1.9 58 -3 5.4 -0.2
FNDC Schwab Fundamental International Small Co. Index ETF 1.9 39 16 6.7 +1.0
VIDI Vident International Equity Strategy ETF 1.9 61 -6 7.9 +2.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 6.9 +1.3
EWJV iShares MSCI Japan Value ETF 1.9 15 40 6.9 +1.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.9 9 46 7.6 +2.0
IQLT iShares MSCI Intl Quality Factor ETF 1.9 30 25 5.3 -0.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.9 11 44 7.6 +1.9
DFSI Dimensional International Sustainability Core 1 ETF 1.9 24 31 5.6 -0.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.9 58 -3 6.3 +0.6
CWI SPDR MSCI ACWI ex-US ETF 1.9 30 25 6.3 +0.7
ACWX iShares MSCI ACWI ex U.S. ETF 1.9 34 21 6.2 +0.5
EMGF iShares Emerging Markets Equity Factor ETF 1.9 25 30 8.5 +2.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.9 36 19 7.3 +1.7
FDEV Fidelity International Multifactor ETF 1.8 18 37 7.2 +1.6
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.8 53 2 4.8 -0.9
IQSI IQ Candriam International Equity ETF 1.8 15 40 5.5 -0.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.8 66 -11 6.9 +1.3
JIRE JPMorgan International Research Enhanced Equity ETF 1.8 24 31 5.7 +0.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.8 38 17 6.7 +1.1
SCJ iShares MSCI Japan Small-Cap ETF 1.8 50 5 5.5 -0.1
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.8 80 -25 8.8 +3.2
IDOG ALPS International Sector Dividend Dogs ETF 1.7 50 5 8.9 +3.3
EEMO Invesco S&P Emerging Markets Momentum ETF 1.7 29 26 6.0 +0.4
PID Invesco International Dividend Achievers ETF 1.7 53 2 4.0 -1.6
KNO AXS Knowledge Leaders ETF 1.7 78 -23 3.9 -1.7
ISCF iShares International SmallCap Equity Factor ETF 1.7 23 32 7.2 +1.5
DGT State Street SPDR Global Dow ETF 1.7 50 5 5.6 -0.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 8 47 6.2 +0.6
IBAT iShares Energy Storage & Materials ETF 1.7 47 8 1.5 -4.1
LDEM iShares ESG MSCI EM Leaders ETF 1.7 17 38 12.3 +6.7
FEZ SPDR EURO STOXX 50 ETF 1.7 29 26 5.6 -0.1
DWMF WisdomTree International Multifactor Fund 1.6 38 17 6.7 +1.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.6 44 11 9.4 +3.7
EEM iShares MSCI Emerging Markets ETF 1.6 69 -14 7.5 +1.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.6 70 -15 6.6 +0.9
FLLA Franklin FTSE Latin America ETF 1.6 19 36 10.6 +5.0
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 1.6 69 -14 7.1 +1.5
PIEL Pacer International Export Leaders ETF 1.6 60 -5 3.9 -1.8
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.4 -0.2
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.6 49 6 6.0 +0.3
ESGD iShares ESG Aware MSCI EAFE ETF 1.6 20 35 5.7 +0.0
IEMG iShares Core MSCI Emerging Markets ETF 1.6 9 46 7.9 +2.2
IQDF FlexShares International Quality Dividend Index Fund 1.6 47 8 7.3 +1.7
EWN iShares MSCI Netherlands ETF 1.6 50 5 4.3 -1.4
VWO Vanguard FTSE Emerging Markets ETF 1.6 7 48 9.0 +3.4
JHID John Hancock International High Dividend ETF 1.6 46 9 7.7 +2.1
SCHE Schwab Emerging Markets Equity ETF 1.5 11 44 9.3 +3.7
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.5 70 -15 3.7 -1.9
LVHI Franklin International Low Volatility High Dividend Index ET 1.5 40 15 7.5 +1.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.5 30 25 7.6 +2.0
RGEF Rockefeller Global Equity ETF 1.5 55 0 3.8 -1.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.5 45 10 7.7 +2.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.4 70 -15 9.4 +3.8
FLGR Franklin FTSE Germany ETF 1.4 9 46 6.5 +0.9
NUKZ Range Nuclear Renaissance Index ETF 1.4 85 -30 1.4 -4.3
EWG iShares MSCI Germany ETF 1.4 50 5 5.9 +0.3
VIGI Vanguard International Dividend Appreciation ETF 1.4 10 45 6.0 +0.4
SPEM SPDR Portfolio Emerging Markets ETF 1.4 7 48 9.3 +3.6
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 8.5 +2.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.3 59 -4 8.1 +2.4
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.3 35 20 9.8 +4.1
FGM First Trust Germany AlphaDEX Fund 1.3 80 -25 5.0 -0.7
CZAR Themes Natural Monopoly ETF 1.3 35 20 5.4 -0.2
BINV Brandes International ETF 1.3 70 -15 8.5 +2.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.3 29 26 8.7 +3.1
DAX Global X DAX Germany ETF 1.3 21 34 6.2 +0.6
FCA First Trust China AlphaDEX Fund 1.3 80 -25 7.5 +1.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.3 75 -20 1.7 -4.0
EDEN iShares MSCI Denmark ETF 1.3 53 2 6.3 +0.7
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.3 30 25 6.1 +0.4
AGRW Allspring LT Large Growth ETF 1.3 35 20 3.4 -2.3
VYMI Vanguard International High Dividend Yield ETF 1.3 17 38 7.9 +2.3
BLES Inspire Global Hope ETF 1.3 61 -6 5.7 +0.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.2 70 -15 6.3 +0.6
PATN Pacer Nasdaq International Patent Leaders ETF 1.2 65 -10 3.9 -1.8
FRDM Freedom 100 Emerging Markets ETF 1.2 49 6 5.0 -0.7
GREK Global X MSCI Greece ETF 1.2 57 -2 8.9 +3.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.2 41 14 6.6 +1.0
GNR SPDR S&P Global Natural Resources ETF 1.2 40 15 8.6 +2.9
AZTD Aztlan Global Stock Selection DM SMID ETF 1.2 75 -20 4.2 -1.4
SMIN iShares MSCI India Small Cap ETF 1.1 79 -24 3.5 -2.2
GEW Cambria Global EW ETF 1.1 29 26 5.4 -0.3
DLS WisdomTree International SmallCap Dividend Fund 1.1 58 -3 7.3 +1.7
FLAU Franklin FTSE Australia ETF 1.1 9 46 5.8 +0.1
FID First Trust S&P International Dividend Aristocrats ETF 1.0 60 -5 7.7 +2.0
WSML iShares MSCI World Small-Cap ETF 1.0 15 40 5.2 -0.4
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 20 3.3 -2.3
FYLD Cambria Foreign Shareholder Yield ETF 1.0 59 -4 10.0 +4.3
CGIE Capital Group International Equity ETF 1.0 54 1 4.5 -1.1
EMM Global X Emerging Markets ex-China ETF 1.0 75 -20 4.5 -1.2
DVYE iShares Emerging Markets Dividend ETF 1.0 49 6 17.5 +11.9
ROAM Hartford Multifactor Emerging Markets ETF 0.9 44 11 7.3 +1.7
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.9 42 13 7.4 +1.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.9 30 25 7.4 +1.7
DTCR Global X Data Center & Digital Infrastructure ETF 0.9 50 5 3.1 -2.5
VSGX Vanguard ESG International Stock ETF 0.9 10 45 6.4 +0.8
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 13 4.0 -1.6
CVAR Cultivar ETF 0.9 87 -32 7.2 +1.5
EFV iShares MSCI EAFE Value ETF 0.9 34 21 7.5 +1.8
DGIN VanEck Digital India ETF 0.9 71 -16 1.5 -4.1
EWO iShares MSCI Austria ETF 0.9 50 5 7.3 +1.7
GVAL Cambria Global Value ETF 0.9 68 -13 8.7 +3.0
EMXF iShares ESG Advanced MSCI EM ETF 0.8 16 39 6.4 +0.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.8 58 -3 8.1 +2.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.8 15 40 8.8 +3.2
RFDI First Trust Riverfront Dynamic Developed International ETF 0.8 83 -28 7.5 +1.9
CGW Invesco S&P Global Water Index ETF 0.8 57 -2 4.6 -1.0
GLOF iShares Global Equity Factor ETF 0.8 20 35 5.5 -0.1
MJSC MUFG Japan Small Cap Active ETF 0.8 85 -30 4.6 -1.0
ICPY Tweedy, Browne International Insider Value ETF 0.8 80 -25 21.0 +15.3
VT Vanguard Total World Stock ETF 0.8 6 49 5.0 -0.7
WDIV SPDR S&P Global Dividend ETF 0.8 40 15 8.9 +3.3
ISRA VanEck Israel ETF 0.7 59 -4 5.8 +0.1
EIS iShares MSCI Israel ETF 0.7 58 -3 6.2 +0.6
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.7 80 -25 5.5 -0.1
COPY Tweedy, Browne Insider + Value ETF 0.7 80 -25 14.6 +8.9
OBOR KraneShares MSCI One Belt One Road Index ETF 0.7 79 -24 7.4 +1.8
ESGE iShares ESG Aware MSCI EM ETF 0.7 25 30 7.9 +2.2
KNCT Invesco Next Gen Connectivity ETF 0.7 40 15 2.8 -2.9
JADE JPMorgan Active Developing Markets Equity ETF 0.7 65 -10 5.8 +0.2
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.7 45 10 9.5 +3.8
ACWI iShares MSCI ACWI ETF 0.7 32 23 4.6 -1.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.7 90 -35 3.6 -2.1
EWM iShares MSCI Malaysia ETF 0.7 50 5 6.4 +0.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.7 40 15 6.0 +0.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 43 4.4 -1.2
DFJ WisdomTree Japan SmallCap Dividend Fund 0.7 58 -3 6.6 +1.0
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.6 20 35 5.6 -0.1
AVSE Avantis Responsible Emerging Markets Equity ETF 0.6 33 22 6.4 +0.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.6 9 46 4.8 -0.8
TRFK Pacer Data and Digital Revolution ETF 0.6 60 -5 1.7 -3.9
WRND IQ Global Equity R&D Leaders ETF 0.6 18 37 4.0 -1.7
DEW WisdomTree Global High Dividend Fund 0.6 58 -3 7.1 +1.5
FENI Fidelity Enhanced International ETF 0.6 28 27 5.7 +0.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.6 50 5 5.6 -0.0
EUDV ProShares MSCI Europe Dividend Growers ETF 0.6 55 0 5.6 -0.0
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 5.1 -0.6
URTH iShares MSCI World ETF 0.6 24 31 4.3 -1.4
ECNS iShares MSCI China Small-Cap ETF 0.6 59 -4 9.1 +3.5
CGDG Capital Group Dividend Growers ETF 0.6 47 8 5.1 -0.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.5 88 -33 7.5 +1.9
AIA iShares Asia 50 ETF 0.5 50 5 7.3 +1.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.4 -1.3
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 0.5 68 -13 0.5 -5.1
TINY ProShares Nanotechnology ETF 0.5 58 -3 1.2 -4.5
IXP iShares Global Comm Services ETF 0.5 42 13 5.7 +0.0
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.5 25 30 5.4 -0.3
JSTC Adasina Social Justice All Cap Global ETF 0.5 89 -34 4.2 -1.4
KLMT Invesco MSCI Global Climate 500 ETF 0.5 10 45 5.0 -0.6
GINN Goldman Sachs Innovate Equity ETF 0.5 52 3 3.7 -1.9
FLTW Franklin FTSE Taiwan ETF 0.5 19 36 3.2 -2.4
BAI iShares AI Innovation and Tech Active ETF 0.5 55 0 0.8 -4.8
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -10 3.4 -2.3
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.4 19 36 5.4 -0.3
TUR iShares MSCI Turkey ETF 0.4 58 -3 13.0 +7.4
EWT iShares MSCI Taiwan ETF 0.4 58 -3 2.9 -2.8
TOK iShares MSCI Kokusai ETF 0.4 26 29 4.3 -1.4
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 -8 10.0 +4.3
DFE WisdomTree Europe SmallCap Dividend Fund 0.4 58 -3 7.4 +1.7
EFNL iShares MSCI Finland ETF 0.4 56 -1 5.5 -0.2
AIQ Global X Artificial Intelligence & Technology ETF 0.4 68 -13 2.6 -3.1
FDEM Fidelity Emerging Markets Multifactor ETF 0.4 25 30 9.9 +4.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 22 6.4 +0.8
QWLD SPDR MSCI World StrategicFactors ETF 0.4 30 25 5.2 -0.5
ERTH Invesco MSCI Sustainable Future ETF 0.4 62 -7 3.0 -2.6
GWX SPDR S&P International Small Cap ETF 0.4 40 15 5.8 +0.1
AFK VanEck Africa Index ETF 0.4 98 -43 11.0 +5.4
EWUS iShares MSCI United Kingdom Small Cap ETF 0.4 59 -4 7.2 +1.6
EMC Global X Emerging Markets Great Consumer ETF 0.4 75 -20 6.8 +1.1
APIE ActivePassive International Equity ETF 0.4 45 10 6.3 +0.7
FLCH Franklin FTSE China ETF 0.4 19 36 18.0 +12.4
EPOL iShares MSCI Poland ETF 0.4 59 -4 8.7 +3.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 35 5.7 +0.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 35 4.7 -1.0
HAP VanEck Natural Resources ETF 0.3 50 5 6.8 +1.2
GXC SPDR S & P China ETF 0.3 59 -4 18.6 +13.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.3 46 9 7.8 +2.2
TAN Invesco Solar ETF 0.3 67 -12 3.9 -1.7
RNRG Global X Renewable Energy Producers ETF 0.3 66 -11 4.3 -1.3
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 6 4.4 -1.2
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 6 8.8 +3.2
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 9.9 +4.3
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.2 20 35 0.8 -4.9
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 1.7 -3.9
EWK iShares MSCI Belgium ETF 0.2 50 5 3.7 -2.0
KGRN KraneShares MSCI China Clean Technology Index ETF 0.2 79 -24 3.4 -2.2
AQWA Global X Clean Water ETF 0.2 50 5 5.0 -0.6
EFRA iShares Environmental Infrastructure and Industrials ETF 0.2 47 8 5.1 -0.6
TBLU Tortoise Global Water ESG ETF 0.2 40 15 4.6 -1.1
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.2 80 -25 11.8 +6.2
FTAG First Trust Indxx Global Agriculture ETF 0.2 70 -15 7.3 +1.6
EYLD Cambria Emerging Shareholder Yield ETF 0.2 66 -11 8.8 +3.1
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 37 0.0 -5.6
MCHI iShares MSCI China ETF 0.2 59 -4 20.3 +14.7
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.2 -1.5
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 4.3 -1.4
ETEC iShares Breakthrough Environmental Solutions ETF 0.2 47 8 2.7 -2.9
IDRV iShares Self-driving EV & Tech ETF 0.2 47 8 1.3 -4.4
PRNT 3D Printing ETF 0.1 66 -11 1.1 -4.5
ACVF American Conservative Values ETF 0.1 75 -20 3.7 -2.0
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 2.9 -2.8
EMMF WisdomTree Emerging Markets Multifactor Fund 0.1 48 7 8.2 +2.5
IUS Invesco RAFI Strategic US ETF 0.1 19 36 5.5 -0.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 5.9 +0.2
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -10 6.4 +0.7
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.1 22 33 5.7 +0.0

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 5.6 %
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.