Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 5.9% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 18.7x P/Sales
ratio		 1.0x
P/BV
ratio		 1.5x Div.
yield		 2.1%


  • 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) $24,188
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
CEMEX SAB-SPONS ADR PART CER 3.4 %
ARCELORMITTAL SA 3.3 %
HOLCIM LTD-REG 3.2 %
SHIN-ETSU CHEMICAL CO LTD 3.2 %
HEIDELBERGCEMENT AG 3.1 %
PRYSMIAN SPA 3.0 %
CELLNEX TELECOM S.A. 3.0 %
GRUPO FERROVIAL 3.0 %
CANADIAN NATL RAILWAY CO 3.0 %
NIPPON STEEL CORP 2.9 %
Total 30.9 %

TOP COUNTRY EXPOSURE
INDIA 18.6 %
JAPAN 14.7 %
CANADA 7.9 %
SPAIN 7.7 %
FRANCE 6.3 %
ITALY 6.1 %
SOUTH KOREA 5.6 %
SWEDEN 4.0 %
LUXEMBOURG 3.7 %
CHINA 3.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
29.0% 29.0% -- -- 15.2%

Market Correlations
versus... Beta R-squared
S&P500 0.56 39%
MSCI EAFE 0.85 63%
MSCI Emg. Mkts. 0.70 49%

Technical Indicators
Recent close $30.12
30d moving avg. $29.54
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 3
Turnover 1.9%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 396 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™: 5.9%


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
(%)
SLX VanEck Steel ETF 9.8 56 -1 11.7 +5.8
PICK iShares MSCI Global Metals & Mining Producers ETF 8.8 39 16 8.6 +2.7
NFTY First Trust India NIFTY 50 Equal Weight ETF 8.2 80 -25 4.6 -1.4
JIVE JPMorgan International Value ETF 8.2 55 0 9.6 +3.7
FEP First Trust Europe AlphaDEX Fund 8.0 80 -25 7.0 +1.0
MXI iShares Global Materials ETF 7.8 41 14 6.1 +0.2
FEUZ First Trust Eurozone AlphaDEX ETF 7.7 80 -25 6.7 +0.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.4 65 -10 9.8 +3.8
EWP iShares MSCI Spain ETF 6.7 50 5 6.0 +0.1
SUPL ProShares Supply Chain Logistics ETF 6.6 58 -3 9.5 +3.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.6 47 8 5.8 -0.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.5 46 9 5.4 -0.5
PIN Invesco India ETF 6.4 78 -23 4.8 -1.2
INDY iShares India 50 ETF 6.2 89 -34 5.2 -0.8
ITOL Tema International Durable Quality ETF 6.1 60 -5 4.8 -1.1
FLIN Franklin FTSE India ETF 6.0 19 36 3.7 -2.2
NDIA Global X India Active ETF 6.0 75 -20 5.0 -0.9
INDA iShares MSCI India ETF 6.0 65 -10 4.2 -1.7
SHPP Pacer Industrials and Logistics ETF 5.8 60 -5 7.7 +1.8
INEQ Columbia International Equity Income ETF 5.6 45 10 7.6 +1.6
EPI WisdomTree India Earnings Fund 5.6 85 -30 4.5 -1.4
DSTX Distillate International Fundamental Stability & Value ETF 5.5 55 0 6.7 +0.8
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.5 58 -3 3.8 -2.1
IVAL Alpha Architect International Quantitative Value ETF 5.3 49 6 9.0 +3.1
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.3 58 -3 7.3 +1.4
SRVR Pacer Data & Infrastructure Real Estate ETF 5.2 55 0 4.2 -1.8
IQRA IQ CBRE Real Assets ETF 5.1 65 -10 5.4 -0.5
AIVI WisdomTree International AI Enhanced Value Fund 4.9 58 -3 6.2 +0.3
OSEA Harbor International Compounders ETF 4.8 55 0 4.4 -1.5
AVIV Avantis International Large Cap Value ETF 4.7 25 30 7.5 +1.5
WTRE WisdomTree New Economy Real Estate Fund 4.7 58 -3 4.8 -1.1
FLCA Franklin FTSE Canada ETF 4.7 9 46 5.7 -0.3
FIVA Fidelity International Value Factor ETF 4.5 18 37 8.1 +2.2
RNEM First Trust Emerging Markets Equity Select ETF 4.5 75 -20 7.8 +1.9
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 4.5 24 31 6.4 +0.5
FIDI Fidelity International High Dividend ETF 4.5 18 37 7.5 +1.5
IMOM Alpha Architect International Quantitative Momentum ETF 4.5 49 6 3.9 -2.1
JHMD John Hancock Multifactor Developed International ETF 4.4 39 16 6.6 +0.6
HEDJ WisdomTree Europe Hedged Equity Fund 4.4 58 -3 5.8 -0.2
EWQ iShares MSCI France ETF 4.3 53 2 6.3 +0.3
OTGL OTG Latin America ETF 4.3 269 -214 6.9 +1.0
BBCA JPMorgan BetaBuilders Canada ETF 4.3 19 36 5.5 -0.4
PBD Invesco Global Clean Energy ETF 4.1 75 -20 0.6 -5.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.1 80 -25 7.3 +1.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 4.0 70 -15 3.3 -2.6
EWI iShares MSCI Italy ETF 4.0 50 5 8.8 +2.9
POW VistaShares Electrification Supercycle ETF 3.9 75 -20 2.8 -3.1
PPIE Putnam PanAgora ESG International Equity ETF 3.9 49 6 7.0 +1.1
VCLN Virtus Duff & Phelps Clean Energy ETF 3.9 59 -4 3.7 -2.3
DFIV Dimensional International Value ETF 3.8 27 28 8.1 +2.2
UIVM VictoryShares International Value Momentum ETF 3.8 35 20 7.6 +1.6
TOLL Tema Durable Quality ETF 3.7 75 -20 4.2 -1.7
NXTG First Trust Indxx NextG ETF 3.5 70 -15 4.4 -1.5
AVDV Avantis International Small Cap Value ETF 3.5 36 19 7.7 +1.7
CGIE Capital Group International Equity ETF 3.4 54 1 4.3 -1.7
TPIF Timothy Plan International ETF 3.4 62 -7 5.4 -0.5
IEUS iShares MSCI Europe Small-Cap ETF 3.4 42 13 6.7 +0.7
IQDG WisdomTree International Quality Dividend Growth Fund 3.3 42 13 6.1 +0.2
AVDE Avantis International Equity ETF 3.3 23 32 6.4 +0.4
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.3 65 -10 4.0 -1.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.3 58 -3 6.0 +0.0
INTF iShares International Equity Factor ETF 3.3 15 40 6.6 +0.7
DXJ WisdomTree Japan Hedged Equity Fund 3.2 48 7 5.8 -0.2
AVES Avantis Emerging Markets Value ETF 3.2 36 19 9.4 +3.5
KNO AXS Knowledge Leaders ETF 3.2 78 -23 5.1 -0.9
FSZ First Trust Switzerland AlphaDEX Fund 3.2 80 -25 5.7 -0.3
JIG JPMorgan International Growth ETF 3.2 55 0 4.0 -1.9
DFEV Dimensional Emerging Markets Value ETF 3.1 43 12 10.4 +4.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.1 45 10 6.2 +0.2
EZU iShares MSCI Eurozone ETF 3.1 52 3 5.8 -0.2
FAN First Trust Global Wind Energy ETF 3.1 60 -5 3.8 -2.2
JPXN iShares JPX-Nikkei 400 ETF 3.1 48 7 5.8 -0.2
VIDI Vident International Equity Strategy ETF 3.1 61 -6 9.2 +3.3
FNDF Schwab Fundamental International Large Co. Index ETF 3.0 25 30 8.2 +2.3
FBOT Fidelity Disruptive Automation ETF 3.0 50 5 2.8 -3.1
GKAT Scharf Global Opportunity ETF 3.0 57 -2 5.6 -0.4
JHID John Hancock International High Dividend ETF 2.9 46 9 8.4 +2.5
SCHY Schwab International Dividend Equity ETF 2.9 14 41 8.8 +2.9
GCOW Pacer Global Cash Cows Dividend ETF 2.9 60 -5 9.7 +3.8
ASLV Allspring Special Large Value ETF 2.9 35 20 5.9 -0.1
BKCI BNY Mellon Concentrated International ETF 2.9 80 -25 4.6 -1.3
IVLU iShares MSCI Intl Value Factor ETF 2.8 30 25 8.8 +2.8
FLSW Franklin FTSE Switzerland ETF 2.8 9 46 5.5 -0.4
EWL iShares MSCI Switzerland ETF 2.8 50 5 5.2 -0.8
CCNR ALPS CoreCommodity Natural Resources ETF 2.8 39 16 7.3 +1.3
DMXF iShares ESG Advanced MSCI EAFE ETF 2.8 12 43 5.1 -0.9
UMMA Wahed Dow Jones Islamic World ETF 2.7 65 -10 3.9 -2.0
IGRO iShares International Dividend Growth ETF 2.7 15 40 6.3 +0.4
QINT American Century Quality Diversified International ETF 2.7 39 16 6.2 +0.3
DXIV Dimensional International Vector Equity ETF 2.7 34 21 6.7 +0.7
AVDS Avantis International Small Cap Equity ETF 2.7 30 25 5.9 -0.0
EXI iShares Global Industrials ETF 2.7 42 13 3.7 -2.3
DFIS Dimensional International Small Cap ETF 2.7 39 16 6.2 +0.3
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -3 6.5 +0.6
EFG iShares MSCI EAFE Growth ETF 2.6 36 19 3.7 -2.3
FPXI First Trust International Equity Opportunities ETF 2.6 70 -15 3.6 -2.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 2.6 9 46 8.4 +2.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.6 25 30 6.5 +0.5
AADR AdvisorShares Dorsey Wright ADR ETF 2.6 110 -55 3.9 -2.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 9.1 +3.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.6 45 10 7.5 +1.6
DFIC Dimensional International Core Equity 2 ETF 2.6 23 32 6.4 +0.4
JPIN J.P. Morgan Diversified Return International Equity ETF 2.6 37 18 7.3 +1.3
TMFG Motley Fool Global Opportunities ETF 2.6 85 -30 3.6 -2.3
FEM First Trust Emerging Markets AlphaDEX Fund 2.6 80 -25 10.2 +4.2
FDEV Fidelity International Multifactor ETF 2.6 18 37 6.6 +0.7
SCZ iShares MSCI EAFE Small-Cap ETF 2.5 40 15 6.2 +0.3
BBJP JPMorgan BetaBuilders Japan ETF 2.5 19 36 5.9 -0.1
DISV Dimensional International Small Cap Value ETF 2.5 42 13 8.0 +2.1
FJP First Trust Japan AlphaDEX Fund 2.5 80 -25 7.3 +1.4
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.5 25 30 5.7 -0.2
XC WisdomTree Emerging Markets Ex-China Fund 2.5 32 23 5.5 -0.4
FLJP Franklin FTSE Japan ETF 2.5 9 46 5.5 -0.4
FCA First Trust China AlphaDEX Fund 2.5 80 -25 8.5 +2.5
STXI Strive International Developed Markets ETF 2.5 29 26 5.7 -0.2
OAIM OneAscent International Equity ETF 2.5 95 -40 4.7 -1.3
RGEF Rockefeller Global Equity ETF 2.5 55 0 4.0 -2.0
CIL VictoryShares International Volatility Wtd ETF 2.5 45 10 5.8 -0.2
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 30 6.2 +0.3
EWJ iShares MSCI Japan ETF 2.4 50 5 5.3 -0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.4 39 16 5.8 -0.1
EWJV iShares MSCI Japan Value ETF 2.4 15 40 7.4 +1.5
DFAI Dimensional International Core Equity Market ETF 2.4 18 37 6.1 +0.1
FLJH Franklin FTSE Japan Hedged ETF 2.4 9 46 5.5 -0.5
IMFL Invesco International Developed Dynamic Multifactor ETF 2.4 34 21 5.0 -0.9
SCHC Schwab International Small-Cap Equity ETF 2.4 11 44 6.7 +0.8
DTH WisdomTree International High Dividend Fund 2.4 58 -3 7.5 +1.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 25 6.6 +0.7
IEUR iShares Core MSCI Europe ETF 2.3 11 44 6.4 +0.4
DOL WisdomTree International LargeCap Dividend Fund 2.3 48 7 6.2 +0.2
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.3 47 8 5.0 -0.9
SPEU SPDR Portfolio Europe ETF 2.3 7 48 6.4 +0.5
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 31 6.3 +0.4
VGK Vanguard FTSE Europe ETF 2.3 6 49 6.5 +0.5
BKIE BNY Mellon International Equity ETF 2.3 4 51 6.1 +0.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.3 47 8 7.0 +1.1
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.3 35 20 5.8 -0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.3 14 41 5.6 -0.3
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.2 80 -25 3.5 -2.5
FNDC Schwab Fundamental International Small Co. Index ETF 2.2 39 16 5.3 -0.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.2 42 13 5.6 -0.3
WWJD Inspire International ETF 2.2 80 -25 6.5 +0.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.2 39 16 14.4 +8.4
DIVI Franklin International Core Dividend Tilt Index ETF 2.2 9 46 7.0 +1.0
VWID Virtus WMC International Dividend ETF 2.2 49 6 7.4 +1.5
AVSD Avantis Responsible International Equity ETF 2.2 23 32 4.7 -1.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.2 40 15 6.5 +0.5
FLKR Franklin FTSE South Korea ETF 2.2 9 46 5.6 -0.4
EWC iShares MSCI Canada ETF 2.2 50 5 5.2 -0.7
IEV iShares Europe ETF 2.1 67 -12 5.8 -0.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 6 6.2 +0.2
GLIN VanEck India Growth Leaders ETF 2.1 77 -22 5.1 -0.9
SPDW SPDR Portfolio Developed World ex-US ETF 2.1 3 52 6.1 +0.1
DWM WisdomTree International Equity Fund 2.1 48 7 6.4 +0.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.1 33 22 6.8 +0.9
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.3 +0.4
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.3 +0.4
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.1 20 35 5.5 -0.4
ECON Columbia Emerging Markets Consumer ETF 2.1 49 6 10.0 +4.1
VEA Vanguard FTSE Developed Markets ETF 2.1 3 52 6.2 +0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.1 46 9 6.0 +0.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.1 24 31 6.2 +0.3
EWD iShares MSCI Sweden ETF 2.1 54 1 4.6 -1.3
IDEV iShares Core MSCI International Developed Markets ETF 2.1 4 51 6.1 +0.2
IEFA iShares Core MSCI EAFE ETF 2.1 7 48 6.2 +0.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 6.3 +0.3
FICS First Trust International Developed Capital Strength ETF 2.0 70 -15 6.5 +0.6
LVHI Franklin International Low Volatility High Dividend Index ET 2.0 40 15 9.2 +3.3
DGT State Street SPDR Global Dow ETF 2.0 50 5 6.0 +0.1
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 13.6 +7.6
BKF iShares MSCI BIC ETF 2.0 69 -14 12.0 +6.1
BINV Brandes International ETF 2.0 70 -15 8.4 +2.4
SCHF Schwab International Equity ETF 2.0 6 49 6.3 +0.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.0 18 37 6.5 +0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.0 41 14 6.5 +0.5
IDOG ALPS International Sector Dividend Dogs ETF 2.0 50 5 10.8 +4.9
IBAT iShares Energy Storage & Materials ETF 2.0 47 8 2.4 -3.5
EFA iShares MSCI EAFE ETF 2.0 35 20 5.8 -0.1
HFXI IQ FTSE International Equity Currency Neutral ETF 2.0 20 35 6.0 +0.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 2.0 58 -3 5.9 -0.1
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.9 12 43 5.3 -0.7
ICPY Tweedy, Browne International Insider Value ETF 1.9 80 -25 10.0 +4.1
AVEM Avantis Emerging Markets Equity ETF 1.9 33 22 7.3 +1.3
GSID Goldman Sachs MarketBeta International Equity ETF 1.9 20 35 5.9 -0.0
OEFA ALPS O’Shares International Developed Quality Dividend ETF 1.9 48 7 4.6 -1.3
XCNY SPDR S&P Emerging Markets ex-China ETF 1.9 15 40 6.3 +0.3
NETZ TCW Transform Systems ETF 1.9 75 -20 2.0 -3.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 6.9 +0.9
VXUS Vanguard Total International Stock ETF 1.9 5 50 6.9 +0.9
VEU Vanguard FTSE All-World ex-US Index Fund 1.9 4 51 6.9 +1.0
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.9 53 2 6.1 +0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 36 19 5.9 -0.1
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.9 35 20 11.7 +5.7
DIHP Dimensional International High Profitability ETF 1.9 29 26 5.8 -0.1
ARKX ARK Space Exploration & Innovation ETF 1.9 75 -20 0.0 -5.9
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 6.8 +0.8
EWG iShares MSCI Germany ETF 1.8 50 5 5.9 0.0
ISCF iShares International SmallCap Equity Factor ETF 1.8 23 32 7.4 +1.5
FDCF Fidelity Disruptive Communications ETF 1.8 50 5 3.4 -2.5
XCEM Columbia EM Core ex-China ETF 1.8 16 39 6.5 +0.6
IMTM iShares MSCI Intl Momentum Factor ETF 1.8 30 25 4.7 -1.2
VPL Vanguard FTSE Pacific ETF 1.8 7 48 5.8 -0.2
JHEM John Hancock Multifactor Emerging Markets ETF 1.8 49 6 8.3 +2.4
SMIN iShares MSCI India Small Cap ETF 1.8 79 -24 3.6 -2.3
ACWX iShares MSCI ACWI ex U.S. ETF 1.8 34 21 6.5 +0.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.8 32 23 5.4 -0.6
SCJ iShares MSCI Japan Small-Cap ETF 1.7 50 5 6.0 +0.0
DFAE Dimensional Emerging Core Equity Market ETF 1.7 35 20 7.4 +1.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 8 47 6.5 +0.5
NUDM Nuveen ESG International Developed Markets Equity ETF 1.7 31 24 5.8 -0.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.7 32 23 7.1 +1.1
PATN Pacer Nasdaq International Patent Leaders ETF 1.7 65 -10 4.6 -1.3
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 31 5.5 -0.4
PID Invesco International Dividend Achievers ETF 1.7 53 2 4.8 -1.1
EMXC iShares MSCI Emerging Markets ex China ETF 1.7 25 30 5.8 -0.1
IPAC iShares Core MSCI Pacific ETF 1.7 9 46 5.7 -0.2
EWY iShares MSCI South Korea ETF 1.7 58 -3 4.8 -1.1
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 25 6.5 +0.6
DLS WisdomTree International SmallCap Dividend Fund 1.7 58 -3 7.3 +1.3
FLAX Franklin FTSE Asia Ex Japan ETF 1.7 19 36 7.5 +1.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 17 7.5 +1.6
EEMA iShares MSCI Emerging Markets Asia ETF 1.7 49 6 7.9 +2.0
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.7 58 -3 8.5 +2.6
FLGR Franklin FTSE Germany ETF 1.7 9 46 6.6 +0.6
FGM First Trust Germany AlphaDEX Fund 1.7 80 -25 6.0 +0.0
SAGP Strategas Global Policy Opportunities ETF 1.7 65 -10 4.7 -1.3
DAX Global X DAX Germany ETF 1.7 21 34 6.4 +0.4
JPEF JPMorgan Equity Focus ETF 1.7 50 5 4.0 -2.0
COPY Tweedy, Browne Insider + Value ETF 1.7 80 -25 10.3 +4.4
IQLT iShares MSCI Intl Quality Factor ETF 1.6 30 25 5.4 -0.6
STXE Strive Emerging Markets Ex-China ETF 1.6 32 23 6.1 +0.2
FEZ SPDR EURO STOXX 50 ETF 1.6 29 26 5.7 -0.3
VYMI Vanguard International High Dividend Yield ETF 1.6 17 38 8.2 +2.3
FYLD Cambria Foreign Shareholder Yield ETF 1.6 59 -4 10.3 +4.4
IDMO Invesco S&P International Developed Momentum ETF 1.6 25 30 5.2 -0.8
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.5 -0.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.5 80 -25 9.4 +3.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.5 70 -15 7.3 +1.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.5 11 44 8.0 +2.0
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.5 15 40 8.5 +2.6
OBOR KraneShares MSCI One Belt One Road Index ETF 1.5 79 -24 7.0 +1.0
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.4 30 25 6.1 +0.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.4 36 19 8.0 +2.1
NUKZ Range Nuclear Renaissance Index ETF 1.4 85 -30 0.9 -5.0
DVYE iShares Emerging Markets Dividend ETF 1.4 49 6 16.7 +10.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.4 66 -11 7.7 +1.7
IQSI IQ Candriam International Equity ETF 1.4 15 40 5.7 -0.2
SCHE Schwab Emerging Markets Equity ETF 1.4 11 44 9.5 +3.6
FDD First Trust Stoxx European Select Dividend Index Fund 1.4 58 -3 9.9 +4.0
FPAG FPA Global Equity ETF 1.3 49 6 5.0 -0.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.3 80 -25 5.5 -0.4
EFV iShares MSCI EAFE Value ETF 1.3 34 21 7.8 +1.9
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 8.5 +2.6
DEHP Dimensional Emerging Markets High Profitability ETF 1.3 41 14 5.3 -0.7
IEMG iShares Core MSCI Emerging Markets ETF 1.3 9 46 8.5 +2.6
VIGI Vanguard International Dividend Appreciation ETF 1.3 10 45 5.8 -0.2
EEM iShares MSCI Emerging Markets ETF 1.3 69 -14 8.1 +2.2
VWO Vanguard FTSE Emerging Markets ETF 1.3 7 48 9.1 +3.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.3 45 10 8.5 +2.5
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.3 75 -20 8.3 +2.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -33 7.2 +1.3
CZAR Themes Natural Monopoly ETF 1.3 35 20 5.0 -1.0
ESGD iShares ESG Aware MSCI EAFE ETF 1.3 20 35 5.8 -0.2
DTCR Global X Data Center & Digital Infrastructure ETF 1.3 50 5 3.1 -2.8
EDEN iShares MSCI Denmark ETF 1.3 53 2 5.5 -0.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 26 6.9 +1.0
FENI Fidelity Enhanced International ETF 1.2 28 27 5.7 -0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.2 44 11 9.3 +3.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.2 70 -15 6.9 +0.9
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 8 7.6 +1.7
EWUS iShares MSCI United Kingdom Small Cap ETF 1.2 59 -4 7.0 +1.1
GNR SPDR S&P Global Natural Resources ETF 1.2 40 15 8.9 +3.0
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 11 10.2 +4.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 -4 7.5 +1.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.1 30 25 8.1 +2.2
BLES Inspire Global Hope ETF 1.1 61 -6 6.1 +0.2
DGIN VanEck Digital India ETF 1.1 71 -16 1.3 -4.6
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 9.3 +3.4
EMGF iShares Emerging Markets Equity Factor ETF 1.1 25 30 9.5 +3.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.1 45 10 9.4 +3.5
CGDG Capital Group Dividend Growers ETF 1.0 47 8 5.4 -0.5
GEW Cambria Global EW ETF 1.0 29 26 5.4 -0.5
EWT iShares MSCI Taiwan ETF 1.0 58 -3 5.0 -1.0
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.0 70 -15 11.5 +5.6
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 1.0 75 -20 6.6 +0.7
FRNW Fidelity Clean Energy ETF 1.0 39 16 2.1 -3.9
SMOG VanEck Low Carbon Energy ETF 1.0 61 -6 1.5 -4.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 20 3.7 -2.2
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.0 75 -20 2.4 -3.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.9 29 26 8.0 +2.1
LDEM iShares ESG MSCI EM Leaders ETF 0.9 17 38 11.4 +5.4
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.9 90 -35 4.4 -1.6
EWM iShares MSCI Malaysia ETF 0.9 50 5 5.8 -0.1
DFE WisdomTree Europe SmallCap Dividend Fund 0.9 58 -3 7.4 +1.4
MJSC MUFG Japan Small Cap Active ETF 0.9 85 -30 5.3 -0.7
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 8.1 +2.2
EWO iShares MSCI Austria ETF 0.9 50 5 8.0 +2.1
GVAL Cambria Global Value ETF 0.9 68 -13 9.2 +3.2
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 13 4.8 -1.2
ILF iShares Latin America 40 ETF 0.9 48 7 10.3 +4.4
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.9 50 5 5.5 -0.5
EUDV ProShares MSCI Europe Dividend Growers ETF 0.9 55 0 5.5 -0.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.8 41 14 7.1 +1.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 7.6 +1.6
DFJ WisdomTree Japan SmallCap Dividend Fund 0.8 58 -3 6.5 +0.5
CVAR Cultivar ETF 0.8 87 -32 6.7 +0.8
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 13 8.6 +2.7
CGXU Capital Group International Focus Equity ETF 0.8 54 1 4.8 -1.2
DEW WisdomTree Global High Dividend Fund 0.8 58 -3 7.6 +1.6
FLAU Franklin FTSE Australia ETF 0.7 9 46 6.0 +0.0
HAP VanEck Natural Resources ETF 0.7 50 5 7.6 +1.7
EIS iShares MSCI Israel ETF 0.7 58 -3 6.2 +0.3
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 35 5.7 -0.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 43 4.4 -1.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 46 5.0 -1.0
ISRA VanEck Israel ETF 0.7 59 -4 5.8 -0.1
VT Vanguard Total World Stock ETF 0.7 6 49 5.2 -0.8
VSGX Vanguard ESG International Stock ETF 0.7 10 45 6.7 +0.8
GLOF iShares Global Equity Factor ETF 0.7 20 35 6.0 +0.1
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -5 3.2 -2.7
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.7 80 -25 8.1 +2.2
WRND IQ Global Equity R&D Leaders ETF 0.7 18 37 6.7 +0.8
FDEM Fidelity Emerging Markets Multifactor ETF 0.7 25 30 10.8 +4.8
ACWI iShares MSCI ACWI ETF 0.6 32 23 4.8 -1.1
FLTW Franklin FTSE Taiwan ETF 0.6 19 36 5.1 -0.9
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.6 45 10 1.6 -4.3
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 5.4 -0.5
EYLD Cambria Emerging Shareholder Yield ETF 0.6 66 -11 10.5 +4.6
CGW Invesco S&P Global Water Index ETF 0.6 57 -2 4.3 -1.7
EWN iShares MSCI Netherlands ETF 0.6 50 5 4.7 -1.3
CGV Conductor Global Equity Value ETF 0.6 130 -75 6.8 +0.9
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.1 -0.9
URTH iShares MSCI World ETF 0.6 24 31 4.5 -1.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.6 15 40 6.6 +0.7
DEM WisdomTree Emerging Markets High Dividend Fund 0.6 63 -8 11.8 +5.9
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 35 5.4 -0.6
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 36 19 6.6 +0.7
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.6 -1.3
QWLD SPDR MSCI World StrategicFactors ETF 0.5 30 25 5.2 -0.8
OCEN IQ Clean Oceans ETF 0.5 45 10 5.1 -0.9
CLNR IQ Cleaner Transport ETF 0.5 45 10 4.9 -1.0
JGLO JPMorgan Global Select Equity ETF 0.5 33 22 4.4 -1.5
BRNY Burney U.S. Factor Rotation ETF Burney U.S. Factor Rotation 0.5 79 -24 5.0 -1.0
TOK iShares MSCI Kokusai ETF 0.5 26 29 4.4 -1.5
GWX SPDR S&P International Small Cap ETF 0.4 40 15 5.9 -0.0
EMXF iShares ESG Advanced MSCI EM ETF 0.4 16 39 7.2 +1.2
DWMF WisdomTree International Multifactor Fund 0.4 38 17 6.5 +0.5
EPOL iShares MSCI Poland ETF 0.4 59 -4 9.7 +3.8
JADE JPMorgan Active Developing Markets Equity ETF 0.4 65 -10 6.5 +0.6
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.4 80 -25 12.6 +6.6
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 6 4.9 -1.0
FLCH Franklin FTSE China ETF 0.4 19 36 14.4 +8.5
GREK Global X MSCI Greece ETF 0.4 57 -2 9.3 +3.4
GXC SPDR S & P China ETF 0.4 59 -4 14.6 +8.7
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -10 3.6 -2.4
IXP iShares Global Comm Services ETF 0.4 42 13 5.5 -0.5
EDIV SPDR S&P Emerging Markets Dividend ETF 0.4 49 6 8.6 +2.7
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 22 8.2 +2.2
AVSE Avantis Responsible Emerging Markets Equity ETF 0.4 33 22 7.0 +1.1
APIE ActivePassive International Equity ETF 0.4 45 10 6.5 +0.5
WLDR Affinity World Leaders Equity ETF 0.4 67 -12 6.5 +0.6
DTAN Sparkline International Intangible Value ETF 0.4 55 0 7.5 +1.6
EFNL iShares MSCI Finland ETF 0.4 56 -1 5.9 0.0
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.4 19 36 5.1 -0.8
FID First Trust S&P International Dividend Aristocrats ETF 0.3 60 -5 7.3 +1.4
WDIV SPDR S&P Global Dividend ETF 0.3 40 15 8.4 +2.4
MCHI iShares MSCI China ETF 0.3 59 -4 15.6 +9.7
AFK VanEck Africa Index ETF 0.3 98 -43 10.9 +5.0
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.3 25 30 5.5 -0.4
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 10.4 +4.5
ESGE iShares ESG Aware MSCI EM ETF 0.3 25 30 8.5 +2.6
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 4.0 -1.9
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.3 20 35 2.6 -3.3
ECNS iShares MSCI China Small-Cap ETF 0.2 59 -4 8.9 +3.0
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 1.4 -4.5
URA Global X Uranium ETF 0.2 69 -14 0.8 -5.2
IPKW Invesco International BuyBack Achievers ETF 0.2 55 0 8.0 +2.1
FRDM Freedom 100 Emerging Markets ETF 0.2 49 6 5.9 -0.0
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 26 6.9 +1.0
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 -10 7.1 +1.2
EMMF WisdomTree Emerging Markets Multifactor Fund 0.2 48 7 6.0 +0.0
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.6 -0.4
FLBR Franklin FTSE Brazil ETF 0.2 19 36 13.5 +7.5
EWZS iShares MSCI Brazil Small-Cap ETF 0.2 59 -4 11.2 +5.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 4.9 -1.1
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 2.7 -3.3
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 4.4 -1.5
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.2 -1.8
FLLA Franklin FTSE Latin America ETF 0.1 19 36 11.3 +5.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 5.9 -0.1
PRNT 3D Printing ETF 0.1 66 -11 1.7 -4.3
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.2 -2.8
ACVF American Conservative Values ETF 0.1 75 -20 3.7 -2.2
IUS Invesco RAFI Strategic US ETF 0.1 19 36 6.1 +0.1
TUR iShares MSCI Turkey ETF 0.1 58 -3 11.6 +5.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.1 40 15 6.1 +0.2

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Global X Infrastructure Development ex-U.S. ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 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.