Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 7.9% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 14.4x P/Sales
ratio		 0.8x
P/BV
ratio		 1.2x Div.
yield		 2.7%


  • 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) $3
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) $23,421
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
HEIDELBERGCEMENT AG 4.5 %
VINCI SA 3.7 %
GRUPO FERROVIAL 3.6 %
CELLNEX TELECOM S.A. 3.3 %
HOLCIM LTD-REG 3.2 %
KOMATSU LTD 3.1 %
ULTRATECH CEMENT LTD 3.0 %
EPIROC AB CLASS A 2.9 %
NIPPON STEEL CORP 2.9 %
TATA STEEL LTD 2.8 %
Total 33.1 %

TOP COUNTRY EXPOSURE
INDIA 19.6 %
JAPAN 12.9 %
FRANCE 8.7 %
SPAIN 8.4 %
CANADA 7.2 %
LUXEMBOURG 5.5 %
ITALY 5.3 %
SOUTH KOREA 4.7 %
SWITZERLAND 4.6 %
GERMANY 4.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
9.4% -- -- -- 3.4%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $26.31
30d moving avg. $24.40
Annualized volatility 0.0%
Short interest (ETF) 10.9%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.5%
Bid/Ask (% of price) 0.00%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 388 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™: 7.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IPAV
Ticker Fund
Name		 Overlap1
vs IPAV
(%)		 Expense
ratio
(bp)		 Savings
vs IPAV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IPAV
(%)
PICK iShares MSCI Global Metals & Mining Producers ETF 10.2 39 16 14.0 +6.2
ICOW Pacer Developed Markets International Cash Cows 100 ETF 9.1 65 -10 12.1 +4.2
MXI iShares Global Materials ETF 9.0 41 14 8.0 +0.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 8.1 46 9 5.5 -2.4
EWP iShares MSCI Spain ETF 7.6 50 5 7.7 -0.2
NFTY First Trust India NIFTY 50 Equal Weight ETF 7.4 80 -25 4.8 -3.1
IVAL Alpha Architect International Quantitative Value ETF 7.4 49 6 11.5 +3.7
BLLD JPMorgan Sustainable Infrastructure ETF 6.7 49 6 6.2 -1.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.7 47 8 5.8 -2.1
JHID John Hancock International High Dividend ETF 6.5 46 9 11.0 +3.2
FLIN Franklin FTSE India ETF 6.2 19 36 3.9 -4.0
PIN Invesco India ETF 6.1 78 -23 4.2 -3.6
SUPL ProShares Supply Chain Logistics ETF 6.1 58 -3 10.7 +2.9
AIVI WisdomTree International AI Enhanced Value Fund 6.1 58 -3 7.4 -0.4
NDIA Global X India Active ETF 6.0 75 -20 4.6 -3.3
FIDI Fidelity International High Dividend ETF 5.9 18 37 9.2 +1.3
OAIM OneAscent International Equity ETF 5.8 95 -40 6.2 -1.7
INDY iShares India 50 ETF 5.8 89 -34 4.5 -3.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.7 42 13 6.7 -1.1
INDA iShares MSCI India ETF 5.7 65 -10 4.3 -3.6
EPI WisdomTree India Earnings Fund 5.6 85 -30 4.7 -3.1
WTRE WisdomTree New Economy Real Estate Fund 5.5 58 -3 9.0 +1.2
SRVR Pacer Data & Infrastructure Real Estate ETF 5.5 55 0 3.8 -4.1
FLCA Franklin FTSE Canada ETF 5.4 9 46 6.9 -0.9
SHPP Pacer Industrials and Logistics ETF 5.4 60 -5 8.3 +0.5
UIVM VictoryShares International Value Momentum ETF 5.4 35 20 9.6 +1.8
BBCA JPMorgan BetaBuilders Canada ETF 5.4 19 36 6.8 -1.1
TOLL Tema Monopolies and Oligopolies ETF 5.3 75 -20 3.7 -4.1
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 5.3 9 46 9.3 +1.5
FEUZ First Trust Eurozone AlphaDEX ETF 5.2 80 -25 9.6 +1.8
EWQ iShares MSCI France ETF 5.0 53 2 7.1 -0.7
BKCI BNY Mellon Concentrated International ETF 5.0 80 -25 5.0 -2.8
DXJ WisdomTree Japan Hedged Equity Fund 4.8 48 7 8.3 +0.5
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 4.7 58 -3 5.0 -2.9
OSEA Harbor International Compounders ETF 4.5 55 0 4.7 -3.2
AVES Avantis Emerging Markets Value ETF 4.5 36 19 12.0 +4.1
FIVA Fidelity International Value Factor ETF 4.3 18 37 10.5 +2.6
FSZ First Trust Switzerland AlphaDEX Fund 4.3 80 -25 4.9 -2.9
JIG JPMorgan International Growth ETF 4.2 55 0 4.7 -3.1
TPIF Timothy Plan International ETF 4.2 62 -7 6.4 -1.4
IQRA IQ CBRE Real Assets ETF 4.2 65 -10 5.7 -2.2
DFIV Dimensional International Value ETF 4.2 27 28 10.2 +2.4
FGM First Trust Germany AlphaDEX Fund 4.2 80 -25 8.3 +0.4
FJP First Trust Japan AlphaDEX Fund 4.1 80 -25 10.1 +2.2
LVHI Franklin International Low Volatility High Dividend Index ET 4.1 40 15 10.8 +3.0
PBD Invesco Global Clean Energy ETF 4.1 75 -20 0.5 -7.4
RNEM First Trust Emerging Markets Equity Select ETF 4.0 75 -20 6.8 -1.0
DSTX Distillate International Fundamental Stability & Value ETF 4.0 55 0 8.4 +0.5
NXTG First Trust Indxx NextG ETF 3.9 70 -15 5.6 -2.3
AVIV Avantis International Large Cap Value ETF 3.9 25 30 9.1 +1.3
SCHY Schwab International Dividend Equity ETF 3.8 14 41 9.7 +1.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.8 58 -3 6.8 -1.0
IDAT iShares Future Cloud 5G and Tech ETF 3.8 47 8 5.0 -2.8
DFEV Dimensional Emerging Markets Value ETF 3.7 43 12 14.0 +6.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 3.7 24 31 7.7 -0.2
TEMP JPMorgan Climate Change Solutions ETF 3.7 49 6 5.9 -2.0
IQDG WisdomTree International Quality Dividend Growth Fund 3.7 42 13 7.1 -0.8
CGIE Capital Group International Equity ETF 3.7 54 1 5.0 -2.8
FRNW Fidelity Clean Energy ETF 3.7 39 16 4.3 -3.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 3.6 58 -3 8.7 +0.8
FLSW Franklin FTSE Switzerland ETF 3.6 9 46 6.2 -1.7
HEDJ WisdomTree Europe Hedged Equity Fund 3.5 58 -3 6.4 -1.4
SLX VanEck Steel ETF 3.5 56 -1 16.7 +8.8
RFEU First Trust Riverfront Dynamic Europe ETF 3.5 83 -28 10.6 +2.7
GCOW Pacer Global Cash Cows Dividend ETF 3.5 60 -5 11.1 +3.3
VIDI Vident International Equity Strategy ETF 3.5 61 -6 11.3 +3.5
FEP First Trust Europe AlphaDEX Fund 3.5 80 -25 9.6 +1.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 3.4 25 30 7.4 -0.5
IVLU iShares MSCI Intl Value Factor ETF 3.4 30 25 11.0 +3.2
JHMD John Hancock Multifactor Developed International ETF 3.4 39 16 7.8 -0.1
FLKR Franklin FTSE South Korea ETF 3.3 9 46 10.9 +3.1
EWI iShares MSCI Italy ETF 3.3 50 5 10.0 +2.2
BINV Brandes International ETF 3.3 70 -15 9.9 +2.0
INTF iShares International Equity Factor ETF 3.3 15 40 7.9 +0.1
DWX SPDR S&P International Dividend ETF 3.2 45 10 6.2 -1.6
IEUS iShares MSCI Europe Small-Cap ETF 3.2 42 13 7.4 -0.4
FBOT Fidelity Disruptive Automation ETF 3.2 50 5 3.8 -4.1
FPAG FPA Global Equity ETF 3.2 49 6 6.1 -1.8
EWL iShares MSCI Switzerland ETF 3.2 50 5 6.0 -1.9
EZU iShares MSCI Eurozone ETF 3.1 52 3 6.8 -1.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.1 45 10 6.7 -1.1
ARKX ARK Space Exploration & Innovation ETF 3.1 75 -20 -0.4 -8.2
AVDE Avantis International Equity ETF 3.1 23 32 7.9 +0.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 3.0 29 26 8.1 +0.2
TMFG Motley Fool Global Opportunities ETF 3.0 85 -30 3.8 -4.1
EXI iShares Global Industrials ETF 3.0 42 13 4.6 -3.2
FYLD Cambria Foreign Shareholder Yield ETF 3.0 59 -4 12.1 +4.2
FNDF Schwab Fundamental International Large Co. Index ETF 3.0 25 30 10.0 +2.1
BBJP JPMorgan BetaBuilders Japan ETF 3.0 19 36 7.5 -0.3
DIM WisdomTree International MidCap Dividend Fund 2.9 58 -3 7.8 -0.1
IDLV Invesco S&P International Developed Low Volatility ETF 2.9 25 30 6.6 -1.3
CIL VictoryShares International Volatility Wtd ETF 2.9 45 10 6.8 -1.1
JPXN iShares JPX-Nikkei 400 ETF 2.9 48 7 7.4 -0.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.9 45 10 10.7 +2.8
VWID Virtus WMC International Dividend ETF 2.9 49 6 8.9 +1.0
PPIE Putnam PanAgora ESG International Equity ETF 2.9 49 6 7.6 -0.3
KNO AXS Knowledge Leaders ETF 2.9 78 -23 6.1 -1.8
DGT SPDR Global Dow ETF 2.8 50 5 7.5 -0.4
DMXF iShares ESG Advanced MSCI EAFE ETF 2.8 12 43 5.5 -2.3
STXI Strive International Developed Markets ETF 2.8 29 26 7.1 -0.8
NETZ TCW Transform Systems ETF 2.8 75 -20 3.0 -4.9
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.8 80 -25 10.5 +2.7
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.8 47 8 6.9 -0.9
JPIN J.P. Morgan Diversified Return International Equity ETF 2.8 37 18 8.8 +0.9
FLJP Franklin FTSE Japan ETF 2.8 9 46 7.0 -0.8
FENI Fidelity Enhanced International ETF 2.8 28 27 6.9 -1.0
EWJ iShares MSCI Japan ETF 2.7 50 5 6.9 -0.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.7 45 10 9.2 +1.3
FLJH Franklin FTSE Japan Hedged ETF 2.7 9 46 6.8 -1.1
XC WisdomTree Emerging Markets Ex-China Fund 2.7 32 23 6.1 -1.8
EFV iShares MSCI EAFE Value ETF 2.7 34 21 9.4 +1.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.7 25 30 7.3 -0.5
DFIC Dimensional International Core Equity 2 ETF 2.7 23 32 7.8 -0.0
DOL WisdomTree International LargeCap Dividend Fund 2.7 48 7 7.5 -0.4
DTH WisdomTree International High Dividend Fund 2.7 58 -3 9.1 +1.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 11.8 +3.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.6 40 15 7.7 -0.2
DWM WisdomTree International Equity Fund 2.6 48 7 7.7 -0.2
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.6 35 20 6.8 -1.0
EWJV iShares MSCI Japan Value ETF 2.6 15 40 9.6 +1.7
FAN First Trust Global Wind Energy ETF 2.6 60 -5 4.9 -3.0
RGEF Rockefeller Global Equity ETF 2.6 55 0 5.1 -2.8
DIVI Franklin International Core Dividend Tilt Index ETF 2.6 9 46 8.2 +0.4
OEUR ALPS O'Shares Europe Quality Dividend ETF 2.5 48 7 5.9 -1.9
EWY iShares MSCI South Korea ETF 2.5 58 -3 10.4 +2.5
OIH VanEck Oil Services ETF 2.5 35 20 5.3 -2.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.5 30 25 8.4 +0.6
DISV Dimensional International Small Cap Value ETF 2.5 42 13 9.8 +2.0
DFAI Dimensional International Core Equity Market ETF 2.5 18 37 7.5 -0.4
AVEM Avantis Emerging Markets Equity ETF 2.5 33 22 9.4 +1.6
QINT American Century Quality Diversified International ETF 2.5 39 16 7.6 -0.3
SPEU SPDR Portfolio Europe ETF 2.4 7 48 7.4 -0.4
BKIE BNY Mellon International Equity ETF 2.4 4 51 7.3 -0.6
COPY Tweedy, Browne Insider + Value ETF 2.4 80 -25 12.6 +4.7
EWC iShares MSCI Canada ETF 2.4 50 5 6.5 -1.4
WWJD Inspire International ETF 2.4 80 -25 7.4 -0.5
IEUR iShares Core MSCI Europe ETF 2.4 11 44 7.4 -0.4
VGK Vanguard FTSE Europe ETF 2.4 11 44 7.4 -0.4
JHEM John Hancock Multifactor Emerging Markets ETF 2.4 49 6 10.5 +2.6
FDCF Fidelity Disruptive Communications ETF 2.4 50 5 3.3 -4.6
DWMF WisdomTree International Multifactor Fund 2.4 38 17 7.0 -0.8
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.4 25 30 7.8 -0.1
STXE Strive Emerging Markets Ex-China ETF 2.4 32 23 7.9 +0.1
IEV iShares Europe ETF 2.4 67 -12 6.9 -0.9
IBAT iShares Energy Storage & Materials ETF 2.4 47 8 5.6 -2.2
UMMA Wahed Dow Jones Islamic World ETF 2.3 65 -10 5.3 -2.6
VCLN Virtus Duff & Phelps Clean Energy ETF 2.3 59 -4 5.8 -2.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.3 39 16 16.8 +9.0
EWD iShares MSCI Sweden ETF 2.3 54 1 5.4 -2.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 2.3 20 35 6.5 -1.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.2 18 37 8.0 +0.2
VEA Vanguard FTSE Developed Markets ETF 2.2 5 50 7.5 -0.4
HFXI IQ FTSE International Equity Currency Neutral ETF 2.2 20 35 7.3 -0.6
SPDW SPDR Portfolio Developed World ex-US ETF 2.2 3 52 7.4 -0.5
IDEV iShares Core MSCI International Developed Markets ETF 2.2 4 51 7.3 -0.6
SCHF Schwab International Equity ETF 2.2 6 49 7.6 -0.3
XCNY SPDR S&P Emerging Markets ex-China ETF 2.2 15 40 7.5 -0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.2 32 23 9.5 +1.6
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.2 24 31 8.4 +0.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.2 46 9 6.6 -1.2
GLIN VanEck India Growth Leaders ETF 2.2 77 -22 6.2 -1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.1 41 14 7.7 -0.1
FLEE Franklin FTSE Europe ETF 2.1 9 46 7.3 -0.6
IEFA iShares Core MSCI EAFE ETF 2.1 7 48 7.3 -0.6
SCZ iShares MSCI EAFE Small-Cap ETF 2.1 40 15 7.4 -0.5
AVDV Avantis International Small Cap Value ETF 2.1 36 19 10.6 +2.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 6 7.4 -0.4
BKF iShares MSCI BIC ETF 2.1 69 -14 13.4 +5.6
EFA iShares MSCI EAFE ETF 2.1 35 20 7.0 -0.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.1 39 16 8.6 +0.7
VEU Vanguard FTSE All-World ex-US Index Fund 2.1 8 47 8.4 +0.5
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 7.2 -0.7
VXUS Vanguard Total International Stock ETF 2.1 7 48 8.2 +0.4
PATN Pacer Nasdaq International Patent Leaders ETF 2.1 65 -10 6.6 -1.3
JIRE JPMorgan International Research Enhanced Equity ETF 2.1 24 31 7.4 -0.5
IMOM Alpha Architect International Quantitative Momentum ETF 2.1 49 6 4.6 -3.2
GVAL Cambria Global Value ETF 2.1 68 -13 11.1 +3.2
EMXC iShares MSCI Emerging Markets ex China ETF 2.0 25 30 7.8 -0.0
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.0 58 -3 9.9 +2.1
IXUS iShares Core MSCI Total International Stock ETF 2.0 7 48 8.2 +0.3
FLAX Franklin FTSE Asia Ex Japan ETF 2.0 19 36 9.8 +2.0
GSID Goldman Sachs MarketBeta International Equity ETF 2.0 20 35 7.2 -0.7
DFAE Dimensional Emerging Core Equity Market ETF 2.0 35 20 10.0 +2.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.0 36 19 6.7 -1.2
FID First Trust S&P International Dividend Aristocrats ETF 2.0 60 -5 8.5 +0.7
WDIV SPDR S&P Global Dividend ETF 2.0 40 15 9.7 +1.9
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.0 12 43 6.3 -1.6
ACWX iShares MSCI ACWI ex U.S. ETF 2.0 34 21 8.0 +0.1
DFIS Dimensional International Small Cap ETF 2.0 39 16 7.8 -0.1
FEZ SPDR EURO STOXX 50 ETF 2.0 29 26 7.1 -0.7
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 16.6 +8.7
EEMA iShares MSCI Emerging Markets Asia ETF 2.0 49 6 10.6 +2.8
CCNR ALPS CoreCommodity Natural Resources ETF 1.9 39 16 12.1 +4.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.9 38 17 9.9 +2.0
SMIN iShares MSCI India Small Cap ETF 1.9 79 -24 3.6 -4.3
VYMI Vanguard International High Dividend Yield ETF 1.9 22 33 9.9 +2.1
FDD First Trust Stoxx European Select Dividend Index Fund 1.9 58 -3 12.0 +4.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.9 32 23 6.9 -1.0
FEM First Trust Emerging Markets AlphaDEX Fund 1.9 80 -25 11.9 +4.0
CWI SPDR MSCI ACWI ex-US ETF 1.9 30 25 8.0 +0.1
IQLT iShares MSCI Intl Quality Factor ETF 1.9 30 25 6.3 -1.6
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.8 80 -25 5.5 -2.3
DFSI Dimensional International Sustainability Core 1 ETF 1.8 24 31 6.6 -1.2
VPL Vanguard FTSE Pacific ETF 1.8 8 47 7.5 -0.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.8 14 41 6.4 -1.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.8 39 16 6.9 -0.9
ECON Columbia Emerging Markets Consumer ETF 1.8 49 6 12.9 +5.1
ROAM Hartford Multifactor Emerging Markets ETF 1.8 44 11 12.2 +4.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.8 11 44 10.4 +2.6
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.7 15 40 10.7 +2.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.7 70 -15 9.7 +1.9
IPAC iShares Core MSCI Pacific ETF 1.7 9 46 7.0 -0.8
AVSD Avantis Responsible International Equity ETF 1.7 23 32 5.9 -2.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.7 32 23 6.0 -1.9
FCA First Trust China AlphaDEX Fund 1.7 80 -25 10.1 +2.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.7 15 40 8.5 +0.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.7 36 19 10.2 +2.4
PIO Invesco Global Water ETF 1.7 75 -20 4.8 -3.1
IDHQ Invesco S&P International Developed High Quality ETF 1.7 29 26 6.7 -1.2
OBOR KraneShares MSCI One Belt One Road Index ETF 1.7 79 -24 8.9 +1.0
IDMO Invesco S&P International Developed Momentum ETF 1.7 25 30 5.5 -2.3
RODE Hartford Multifactor Diversified International ETF 1.7 29 26 11.0 +3.2
CGW Invesco S&P Global Water Index ETF 1.7 57 -2 4.7 -3.2
FDEM Fidelity Emerging Markets Multifactor ETF 1.7 25 30 13.4 +5.5
SCHC Schwab International Small-Cap Equity ETF 1.7 11 44 7.1 -0.8
NUDM Nuveen ESG International Developed Markets Equity ETF 1.6 31 24 6.5 -1.3
IDOG ALPS International Sector Dividend Dogs ETF 1.6 50 5 12.6 +4.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.6 66 -11 10.3 +2.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.6 45 10 10.9 +3.1
GNR SPDR S&P Global Natural Resources ETF 1.6 40 15 11.7 +3.8
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.6 65 -10 3.7 -4.1
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.6 70 -15 7.9 +0.1
VWO Vanguard FTSE Emerging Markets ETF 1.6 8 47 10.9 +3.0
IEMG iShares Core MSCI Emerging Markets ETF 1.6 9 46 10.8 +3.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.6 59 -4 12.2 +4.4
DLS WisdomTree International SmallCap Dividend Fund 1.6 58 -3 8.7 +0.9
EFG iShares MSCI EAFE Growth ETF 1.5 36 19 4.4 -3.4
ESGD iShares ESG Aware MSCI EAFE ETF 1.5 20 35 7.0 -0.8
GMF SPDR S&P Emerging Asia Pacific ETF 1.5 49 6 9.9 +2.0
SCHE Schwab Emerging Markets Equity ETF 1.5 11 44 11.5 +3.7
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.5 75 -20 10.2 +2.4
EEM iShares MSCI Emerging Markets ETF 1.5 69 -14 10.6 +2.8
FNDC Schwab Fundamental International Small Co. Index ETF 1.5 39 16 6.2 -1.7
EWG iShares MSCI Germany ETF 1.5 50 5 6.3 -1.5
SCJ iShares MSCI Japan Small-Cap ETF 1.5 50 5 7.3 -0.6
PID Invesco International Dividend Achievers ETF 1.5 53 2 5.7 -2.2
DEHP Dimensional Emerging Markets High Profitability ETF 1.5 41 14 7.0 -0.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.5 7 48 7.1 -0.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.5 30 25 10.7 +2.8
BLES Inspire Global Hope ETF 1.5 61 -6 6.9 -1.0
LIVR Intelligent Livermore ETF 1.4 69 -14 6.5 -1.4
DAX Global X DAX Germany ETF 1.4 21 34 6.6 -1.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.4 35 20 20.5 +12.6
VIGI Vanguard International Dividend Appreciation ETF 1.4 15 40 6.2 -1.6
IMTM iShares MSCI Intl Momentum Factor ETF 1.4 30 25 5.5 -2.4
DVYE iShares Emerging Markets Dividend ETF 1.4 49 6 18.6 +10.7
IGRO iShares International Dividend Growth ETF 1.4 15 40 7.3 -0.6
DTCR Global X Data Center & Digital Infrastructure ETF 1.4 50 5 4.6 -3.3
EYLD Cambria Emerging Shareholder Yield ETF 1.3 66 -11 13.2 +5.3
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.3 30 25 7.1 -0.7
EWT iShares MSCI Taiwan ETF 1.3 58 -3 6.5 -1.4
DIHP Dimensional International High Profitability ETF 1.3 29 26 7.3 -0.5
EMGF iShares Emerging Markets Equity Factor ETF 1.3 25 30 12.2 +4.4
XT iShares Exponential Technologies ETF 1.3 46 9 5.6 -2.3
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 1.3 60 -5 3.8 -4.1
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.3 75 -20 3.2 -4.7
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.3 80 -25 5.0 -2.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.3 80 -25 12.3 +4.5
ISCF iShares International SmallCap Equity Factor ETF 1.3 23 32 8.7 +0.8
DFE WisdomTree Europe SmallCap Dividend Fund 1.3 58 -3 8.2 +0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.3 44 11 10.8 +2.9
FLGR Franklin FTSE Germany ETF 1.3 9 46 6.8 -1.1
IMFL Invesco International Developed Dynamic Multifactor ETF 1.3 34 21 6.0 -1.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.2 58 -3 6.8 -1.1
DEM WisdomTree Emerging Markets High Dividend Fund 1.2 63 -8 13.5 +5.6
PRAY FIS Christian Stock Fund 1.2 69 -14 5.4 -2.5
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.2 50 5 5.9 -2.0
IQSI IQ Candriam International Equity ETF 1.2 15 40 6.7 -1.1
DGIN VanEck Digital India ETF 1.2 71 -16 1.9 -6.0
CGV Conductor Global Equity Value ETF 1.1 130 -75 9.3 +1.5
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 8 9.3 +1.5
ESGG FlexShares STOXX Global ESG Select Index Fund 1.1 42 13 5.6 -2.2
EBLU Ecofin Global Water ESG Fund 1.1 40 15 4.2 -3.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.1 29 26 8.5 +0.7
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 10.8 +2.9
VRAI Virtus Real Asset Income ETF 1.1 55 0 10.4 +2.5
FLTW Franklin FTSE Taiwan ETF 1.1 19 36 6.7 -1.2
HAP VanEck Natural Resources ETF 1.1 50 5 10.1 +2.2
EMMF WisdomTree Emerging Markets Multifactor Fund 1.1 48 7 8.0 +0.1
RFDI First Trust Riverfront Dynamic Developed International ETF 1.0 83 -28 9.8 +1.9
SMOG VanEck Low Carbon Energy ETF 1.0 61 -6 1.6 -6.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.0 12 43 5.3 -2.5
EDEN iShares MSCI Denmark ETF 1.0 53 2 6.9 -1.0
INEQ Columbia International Equity Income ETF 1.0 45 10 8.7 +0.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.0 41 14 9.4 +1.6
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.0 20 35 6.7 -1.1
XCEM Columbia EM Core ex-China ETF 1.0 16 39 8.3 +0.5
CGXU Capital Group International Focus Equity ETF 0.9 54 1 5.8 -2.1
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -33 9.7 +1.9
EWM iShares MSCI Malaysia ETF 0.9 50 5 6.7 -1.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.9 47 8 8.6 +0.7
IDV iShares International Select Dividend ETF 0.9 51 4 12.0 +4.1
WLDR Affinity World Leaders Equity ETF 0.9 67 -12 7.9 +0.0
CGDG Capital Group Dividend Growers ETF 0.8 47 8 6.3 -1.5
FDEV Fidelity International Multifactor ETF 0.8 18 37 7.7 -0.2
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.8 33 22 10.5 +2.6
VSGX Vanguard ESG International Stock ETF 0.8 12 43 8.0 +0.2
VT Vanguard Total World Stock ETF 0.8 7 48 6.2 -1.7
VOLT Tema Electrification ETF 0.8 75 -20 3.1 -4.8
CZAR Themes Natural Monopoly ETF 0.8 35 20 5.6 -2.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.8 9 46 6.1 -1.8
ILF iShares Latin America 40 ETF 0.7 48 7 13.0 +5.2
GLOF iShares Global Equity Factor ETF 0.7 20 35 6.9 -1.0
ACWI iShares MSCI ACWI ETF 0.7 32 23 5.8 -2.0
FLCH Franklin FTSE China ETF 0.7 19 36 17.4 +9.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.7 30 25 10.1 +2.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.7 70 -15 15.3 +7.5
GLBL Pacer MSCI World Industry Advantage ETF 0.7 65 -10 4.5 -3.4
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.7 80 -25 15.1 +7.3
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 0.7 75 -20 8.1 +0.3
KLMT Invesco MSCI Global Climate 500 ETF 0.7 10 45 6.0 -1.8
DEW WisdomTree Global High Dividend Fund 0.7 58 -3 8.8 +1.0
EWN iShares MSCI Netherlands ETF 0.6 50 5 5.6 -2.3
DFJ WisdomTree Japan SmallCap Dividend Fund 0.6 58 -3 8.5 +0.6
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 0.6 58 -3 8.2 +0.4
URTH iShares MSCI World ETF 0.6 24 31 5.4 -2.5
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.6 80 -25 9.9 +2.1
EEMO Invesco S&P Emerging Markets Momentum ETF 0.6 29 26 6.7 -1.1
EWO iShares MSCI Austria ETF 0.6 50 5 11.2 +3.4
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.6 45 10 4.4 -3.4
KOKU Xtrackers MSCI Kokusai Equity ETF 0.6 9 46 5.4 -2.5
QWLD SPDR MSCI World StrategicFactors ETF 0.6 30 25 6.2 -1.7
WRND IQ Global Equity R&D Leaders ETF 0.5 18 37 8.9 +1.0
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 35 5.8 -2.0
IXP iShares Global Comm Services ETF 0.5 42 13 6.3 -1.6
TOK iShares MSCI Kokusai ETF 0.5 26 29 5.3 -2.6
KNCT Invesco Next Gen Connectivity ETF 0.5 40 15 5.2 -2.7
EPOL iShares MSCI Poland ETF 0.5 59 -4 11.4 +3.5
OCEN IQ Clean Oceans ETF 0.5 45 10 6.6 -1.3
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 36 19 8.1 +0.2
KALL KraneShares MSCI All China Index ETF 0.5 49 6 14.9 +7.0
AIA iShares Asia 50 ETF 0.5 50 5 14.3 +6.5
CLNR IQ Cleaner Transport ETF 0.5 45 10 6.9 -1.0
EFRA iShares Environmental Infrastructure and Industrials ETF 0.5 47 8 5.2 -2.6
CVY Invesco Zacks Multi-Asset Income ETF 0.4 106 -51 12.3 +4.5
GXC SPDR S&P China ETF 0.4 59 -4 17.0 +9.2
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.4 25 30 6.0 -1.8
LDEM iShares ESG MSCI EM Leaders ETF 0.4 17 38 13.7 +5.8
EWX SPDR S&P Emerging Markets Small Cap ETF 0.4 65 -10 8.2 +0.4
DTAN Sparkline International Intangible Value ETF 0.4 55 0 8.4 +0.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.4 40 15 7.2 -0.7
CTEC Global X CleanTech ETF 0.3 50 5 3.0 -4.9
SNSR Global X Internet of Things ETF 0.3 68 -13 4.6 -3.3
MCHI iShares MSCI China ETF 0.3 59 -4 18.3 +10.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.3 25 30 6.4 -1.4
FEOE First Eagle Overseas Equity ETF 0.3 79 -24 8.4 +0.5
JGLO JPMorgan Global Select Equity ETF 0.3 33 22 5.1 -2.8
RAYD Rayliant Quantitative Developed Market Equity ETF 0.3 80 -25 4.6 -3.2
FLAU Franklin FTSE Australia ETF 0.3 9 46 6.3 -1.5
GWX SPDR S&P International Small Cap ETF 0.2 40 15 6.7 -1.1
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.8 -2.1
EDIV SPDR S&P Emerging Markets Dividend ETF 0.2 49 6 11.8 +4.0
SMCF Themes US Small Cap Cash Flow Champions ETF 0.2 29 26 13.2 +5.3
EMXF iShares ESG Advanced MSCI EM ETF 0.2 16 39 8.5 +0.7
KOMP SPDR S&P Kensho New Economies Composite ETF 0.2 20 35 3.5 -4.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 5.9 -1.9
FLBR Franklin FTSE Brazil ETF 0.2 19 36 15.3 +7.5
SDIV Global X Superdividend ETF 0.2 58 -3 42.2 +34.3
EDOG ALPS Emerging Sector Dividend Dogs ETF 0.2 60 -5 10.6 +2.8
EWZS iShares MSCI Brazil Small-Cap ETF 0.2 59 -4 11.5 +3.7
ECNS iShares MSCI China Small-Cap ETF 0.2 59 -4 10.9 +3.1
ESGE iShares ESG Aware MSCI EM ETF 0.2 25 30 10.5 +2.7
TUR iShares MSCI Turkey ETF 0.2 58 -3 20.8 +13.0
APIE ActivePassive International Equity ETF 0.2 45 10 7.6 -0.2
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 3.5 -4.4
ISRA VanEck Israel ETF 0.2 59 -4 7.4 -0.5
EIS iShares MSCI Israel ETF 0.2 58 -3 8.2 +0.3
FXI iShares China Large-Cap ETF 0.2 74 -19 18.5 +10.6
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 5.2 -2.6
URA Global X Uranium ETF 0.2 69 -14 2.8 -5.1
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 2.8 -5.1
FRDM Freedom 100 Emerging Markets ETF 0.2 49 6 8.8 +0.9
FLLA Franklin FTSE Latin America ETF 0.2 19 36 13.2 +5.4
ACVF American Conservative Values ETF 0.1 75 -20 4.5 -3.4
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -34 4.5 -3.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 4.0 -3.9
PRNT 3D Printing ETF 0.1 66 -11 1.4 -6.5
IUS Invesco RAFI Strategic US ETF 0.1 19 36 6.9 -1.0

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 10.1 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 7.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.55
 
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.