Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 6.2% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 18.9x P/Sales
ratio		 1.0x
P/BV
ratio		 1.4x 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) $24,367
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
SHIN-ETSU CHEMICAL CO LTD 4.0 %
KOMATSU LTD 3.8 %
ARCELORMITTAL SA 3.6 %
PRYSMIAN SPA 3.4 %
CANADIAN PACIFIC KANSAS CITY LTD 3.3 %
CELLNEX TELECOM S.A. 3.2 %
CANADIAN NATL RAILWAY CO 3.1 %
VINCI SA 3.1 %
EPIROC AB CLASS A 2.9 %
POSCO 2.9 %
Total 33.2 %

TOP COUNTRY EXPOSURE
INDIA 16.6 %
JAPAN 15.2 %
CANADA 8.5 %
SPAIN 8.0 %
FRANCE 6.8 %
SOUTH KOREA 6.4 %
ITALY 6.1 %
SWEDEN 4.0 %
LUXEMBOURG 3.9 %
CHINA 3.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
15.0% 45.4% -- -- 24.5%

Market Correlations
versus... Beta R-squared
S&P500 0.61 48%
MSCI EAFE 0.89 74%
MSCI Emg. Mkts. 0.75 63%

Technical Indicators
Recent close $29.83
30d moving avg. $32.19
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.3%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 402 potential alternatives to the Global X Infrastructure Development ex-U.S. ETF ETF based on the alternatives' overlap in portfolio holdings with IPAV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IPAV Expense: 55 bp ALTAR Score™: 6.2%


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
(%)
JIVE JPMorgan International Value ETF 8.3 55 0 8.9 +2.7
PICK iShares MSCI Global Metals & Mining Producers ETF 8.3 39 16 9.1 +2.8
FEUZ First Trust Eurozone AlphaDEX ETF 8.1 80 -25 7.1 +0.8
FEP First Trust Europe AlphaDEX Fund 8.0 80 -25 7.3 +1.1
NFTY First Trust India NIFTY 50 Equal Weight ETF 8.0 80 -25 4.8 -1.4
MXI iShares Global Materials ETF 7.3 41 14 6.4 +0.2
SUPL ProShares Supply Chain Logistics ETF 7.3 58 -3 8.3 +2.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.0 65 -10 8.1 +1.9
EWP iShares MSCI Spain ETF 7.0 50 5 6.4 +0.1
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.0 47 8 5.1 -1.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.6 46 9 5.1 -1.2
SHPP Pacer Industrials and Logistics ETF 6.4 60 -5 7.4 +1.2
PIN Invesco India ETF 6.3 78 -23 5.0 -1.2
INDA iShares MSCI India ETF 6.0 65 -10 4.5 -1.7
ITOL Tema International Durable Quality ETF 5.9 60 -5 5.3 -0.9
INDY iShares India 50 ETF 5.9 89 -34 5.1 -1.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.9 58 -3 3.8 -2.4
FLIN Franklin FTSE India ETF 5.9 19 36 4.1 -2.1
DSTX Distillate International Fundamental Stability & Value ETF 5.7 55 0 6.8 +0.6
SRVR Pacer Data & Infrastructure Real Estate ETF 5.6 55 0 4.0 -2.2
INEQ Columbia International Equity Income ETF 5.6 45 10 7.9 +1.7
EPI WisdomTree India Earnings Fund 5.5 85 -30 5.1 -1.2
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.3 58 -3 8.0 +1.8
NDIA Global X India Active ETF 5.2 75 -20 5.0 -1.2
IVAL Alpha Architect International Quantitative Value ETF 5.2 49 6 8.0 +1.8
IQRA IQ CBRE Real Assets ETF 5.1 65 -10 6.0 -0.2
WTRE WisdomTree New Economy Real Estate Fund 4.9 58 -3 -0.3 -6.5
POW VistaShares Electrification Supercycle ETF 4.8 75 -20 2.4 -3.8
AVIV Avantis International Large Cap Value ETF 4.7 25 30 7.3 +1.1
FLCA Franklin FTSE Canada ETF 4.7 9 46 5.8 -0.5
EWQ iShares MSCI France ETF 4.6 53 2 6.8 +0.6
OSEA Harbor International Compounders ETF 4.6 55 0 4.4 -1.9
FIVA Fidelity International Value Factor ETF 4.5 18 37 8.0 +1.7
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 4.4 24 31 7.2 +0.9
FIDI Fidelity International High Dividend ETF 4.4 18 37 7.4 +1.2
JHMD John Hancock Multifactor Developed International ETF 4.4 39 16 6.5 +0.3
BBCA JPMorgan BetaBuilders Canada ETF 4.3 19 36 5.7 -0.5
HEDJ WisdomTree Europe Hedged Equity Fund 4.3 58 -3 6.4 +0.2
RNEM First Trust Emerging Markets Equity Select ETF 4.2 75 -20 8.2 +1.9
PBD Invesco Global Clean Energy ETF 4.1 75 -20 0.3 -5.9
AIVI WisdomTree International AI Enhanced Value Fund 4.1 58 -3 6.6 +0.4
EWI iShares MSCI Italy ETF 3.9 50 5 11.4 +5.1
PPIE Putnam PanAgora ESG International Equity ETF 3.9 49 6 6.9 +0.6
VCLN Virtus Duff & Phelps Clean Energy ETF 3.9 59 -4 2.7 -3.5
TOLL Tema Durable Quality ETF 3.8 75 -20 4.3 -1.9
UIVM VictoryShares International Value Momentum ETF 3.8 35 20 8.7 +2.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 3.7 80 -25 7.2 +1.0
OTGL OTG Latin America ETF 3.6 269 -214 7.8 +1.6
NXTG First Trust Indxx NextG ETF 3.6 70 -15 4.8 -1.5
JPXN iShares JPX-Nikkei 400 ETF 3.6 48 7 5.8 -0.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.5 70 -15 4.3 -1.9
IEUS iShares MSCI Europe Small-Cap ETF 3.5 42 13 7.2 +1.0
CGIE Capital Group International Equity ETF 3.4 54 1 4.9 -1.4
TPIF Timothy Plan International ETF 3.4 62 -7 5.8 -0.4
IQDG WisdomTree International Quality Dividend Growth Fund 3.4 42 13 6.0 -0.2
INTF iShares International Equity Factor ETF 3.3 15 40 6.8 +0.6
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.3 58 -3 5.7 -0.5
DFIV Dimensional International Value ETF 3.3 27 28 8.2 +2.0
AVDE Avantis International Equity ETF 3.3 23 32 6.6 +0.4
ASLV Allspring Special Large Value ETF 3.3 35 20 5.4 -0.9
DXJ WisdomTree Japan Hedged Equity Fund 3.2 48 7 5.8 -0.5
AVES Avantis Emerging Markets Value ETF 3.2 36 19 9.5 +3.3
KNO AXS Knowledge Leaders ETF 3.2 78 -23 4.7 -1.6
FAN First Trust Global Wind Energy ETF 3.2 60 -5 2.9 -3.3
JIG JPMorgan International Growth ETF 3.2 55 0 3.9 -2.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.1 45 10 6.1 -0.1
AVDV Avantis International Small Cap Value ETF 3.1 36 19 8.3 +2.1
EZU iShares MSCI Eurozone ETF 3.1 52 3 6.1 -0.2
GKAT Scharf Global Opportunity ETF 3.1 57 -2 6.1 -0.1
SCHY Schwab International Dividend Equity ETF 3.1 14 41 8.5 +2.3
FNDF Schwab Fundamental International Large Co. Index ETF 3.0 25 30 8.0 +1.8
UMMA Wahed Dow Jones Islamic World ETF 3.0 65 -10 4.1 -2.1
FJP First Trust Japan AlphaDEX Fund 3.0 80 -25 7.8 +1.6
IGRO iShares International Dividend Growth ETF 3.0 15 40 7.1 +0.8
FBOT Fidelity Disruptive Automation ETF 3.0 50 5 3.2 -3.0
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.0 65 -10 4.5 -1.7
TMFG Motley Fool Global Opportunities ETF 3.0 85 -30 4.0 -2.2
IVLU iShares MSCI Intl Value Factor ETF 2.9 30 25 8.6 +2.4
JHID John Hancock International High Dividend ETF 2.9 46 9 8.3 +2.1
EWJ iShares MSCI Japan ETF 2.9 50 5 5.3 -0.9
EXI iShares Global Industrials ETF 2.9 42 13 3.7 -2.5
BKCI BNY Mellon Concentrated International ETF 2.9 80 -25 5.2 -1.1
EFG iShares MSCI EAFE Growth ETF 2.8 36 19 4.0 -2.2
DFEV Dimensional Emerging Markets Value ETF 2.8 43 12 10.5 +4.3
GCOW Pacer Global Cash Cows Dividend ETF 2.7 60 -5 9.2 +3.0
QINT American Century Quality Diversified International ETF 2.7 39 16 7.0 +0.8
EWJV iShares MSCI Japan Value ETF 2.7 15 40 7.4 +1.2
SCZ iShares MSCI EAFE Small-Cap ETF 2.7 40 15 6.5 +0.3
ARKX ARK Space Exploration & Innovation ETF 2.7 75 -20 0.1 -6.2
STXI Strive International Developed Markets ETF 2.7 29 26 6.0 -0.2
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -3 6.6 +0.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 2.6 9 46 7.8 +1.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.6 25 30 6.7 +0.5
AADR AdvisorShares Dorsey Wright ADR ETF 2.6 110 -55 3.0 -3.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 5 8.9 +2.7
JPIN J.P. Morgan Diversified Return International Equity ETF 2.6 37 18 7.4 +1.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.6 45 10 7.3 +1.1
DFIS Dimensional International Small Cap ETF 2.6 39 16 6.5 +0.3
FEM First Trust Emerging Markets AlphaDEX Fund 2.6 80 -25 9.4 +3.2
AVDS Avantis International Small Cap Equity ETF 2.6 30 25 6.4 +0.2
DFIC Dimensional International Core Equity 2 ETF 2.5 23 32 6.6 +0.4
BBJP JPMorgan BetaBuilders Japan ETF 2.5 19 36 5.7 -0.5
DXIV Dimensional International Vector Equity ETF 2.5 34 21 6.9 +0.7
CCNR ALPS CoreCommodity Natural Resources ETF 2.5 39 16 8.3 +2.1
FLSW Franklin FTSE Switzerland ETF 2.5 9 46 6.0 -0.2
FSZ First Trust Switzerland AlphaDEX Fund 2.5 80 -25 5.3 -1.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.5 25 30 5.9 -0.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.5 35 20 6.0 -0.2
OAIM OneAscent International Equity ETF 2.5 95 -40 5.0 -1.2
XC WisdomTree Emerging Markets Ex-China Fund 2.5 32 23 6.5 +0.2
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 30 6.4 +0.2
CIL VictoryShares International Volatility Wtd ETF 2.5 45 10 5.8 -0.5
FLJP Franklin FTSE Japan ETF 2.4 9 46 5.8 -0.4
DMXF iShares ESG Advanced MSCI EAFE ETF 2.4 12 43 5.4 -0.9
FDEV Fidelity International Multifactor ETF 2.4 18 37 7.4 +1.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.4 39 16 6.5 +0.3
SCHC Schwab International Small-Cap Equity ETF 2.4 11 44 6.9 +0.7
IMFL Invesco International Developed Dynamic Multifactor ETF 2.4 34 21 5.5 -0.8
DFAI Dimensional International Core Equity Market ETF 2.4 18 37 6.4 +0.1
IMOM Alpha Architect International Quantitative Momentum ETF 2.4 49 6 4.5 -1.8
FCA First Trust China AlphaDEX Fund 2.4 80 -25 7.2 +1.0
FLJH Franklin FTSE Japan Hedged ETF 2.4 9 46 5.6 -0.6
DGT State Street SPDR Global Dow ETF 2.3 50 5 6.1 -0.1
RGEF Rockefeller Global Equity ETF 2.3 55 0 4.2 -2.0
SPEU SPDR Portfolio Europe ETF 2.3 7 48 6.9 +0.6
DOL WisdomTree International LargeCap Dividend Fund 2.3 48 7 6.1 -0.2
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.3 47 8 5.2 -1.1
DTH WisdomTree International High Dividend Fund 2.3 58 -3 7.7 +1.4
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 31 6.2 -0.0
EWC iShares MSCI Canada ETF 2.3 50 5 5.4 -0.8
IVSI Applied Finance IVS International LrgETF 2.3 65 -10 6.5 +0.3
VGK Vanguard FTSE Europe ETF 2.3 6 49 7.0 +0.7
BKIE BNY Mellon International Equity ETF 2.3 4 51 6.3 +0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.3 47 8 8.0 +1.8
IEUR iShares Core MSCI Europe ETF 2.3 11 44 6.8 +0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.3 14 41 5.7 -0.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.2 30 25 6.8 +0.6
IBAT iShares Energy Storage & Materials ETF 2.2 47 8 2.1 -4.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.2 80 -25 3.8 -2.4
SPDW SPDR Portfolio Developed World ex-US ETF 2.2 3 52 6.3 +0.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.2 42 13 4.3 -1.9
WWJD Inspire International ETF 2.2 80 -25 6.7 +0.4
EWL iShares MSCI Switzerland ETF 2.2 50 5 5.8 -0.4
DIVI Franklin International Core Dividend Tilt Index ETF 2.2 9 46 7.0 +0.8
VWID Virtus WMC International Dividend ETF 2.2 49 6 7.7 +1.4
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.2 20 35 6.0 -0.3
AVSD Avantis Responsible International Equity ETF 2.2 23 32 6.4 +0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.2 40 15 6.0 -0.3
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.2 48 7 4.6 -1.7
FLKR Franklin FTSE South Korea ETF 2.2 9 46 5.4 -0.8
VEA Vanguard FTSE Developed Markets ETF 2.2 3 52 6.4 +0.2
ICPY Tweedy, Browne International Insider Value ETF 2.2 80 -25 22.8 +16.5
DIHP Dimensional International High Profitability ETF 2.1 29 26 6.0 -0.3
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.1 12 43 5.7 -0.6
FRGN Horizon International Equity ETF 2.1 75 -20 8.7 +2.4
DWM WisdomTree International Equity Fund 2.1 48 7 5.9 -0.3
EWD iShares MSCI Sweden ETF 2.1 54 1 5.3 -0.9
IDEV iShares Core MSCI International Developed Markets ETF 2.1 4 51 6.4 +0.1
IEFA iShares Core MSCI EAFE ETF 2.1 7 48 6.4 +0.2
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 6.6 +0.4
SCHF Schwab International Equity ETF 2.1 6 49 6.4 +0.2
IEV iShares Europe ETF 2.1 67 -12 6.3 +0.0
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 6 6.4 +0.1
FLEE Franklin FTSE Europe ETF 2.1 9 46 6.7 +0.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.1 39 16 14.5 +8.2
DISV Dimensional International Small Cap Value ETF 2.1 42 13 8.7 +2.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.1 33 22 7.0 +0.7
ECON Columbia Emerging Markets Consumer ETF 2.1 49 6 7.6 +1.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.1 46 9 5.9 -0.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.1 24 31 6.1 -0.1
FPXI First Trust International Equity Opportunities ETF 2.1 70 -15 4.4 -1.8
TNUK Tortoise Nuclear Renaissance ETF 2.1 75 -20 0.7 -5.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.1 25 30 6.5 +0.3
FNDC Schwab Fundamental International Small Co. Index ETF 2.0 39 16 7.2 +0.9
LVHI Franklin International Low Volatility High Dividend Index ET 2.0 40 15 7.8 +1.6
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 14.3 +8.0
EFA iShares MSCI EAFE ETF 2.0 35 20 6.1 -0.1
FICS First Trust International Developed Capital Strength ETF 2.0 70 -15 7.0 +0.8
GLIN VanEck India Growth Leaders ETF 2.0 77 -22 5.7 -0.5
PATN Pacer Nasdaq International Patent Leaders ETF 2.0 65 -10 4.9 -1.3
VPL Vanguard FTSE Pacific ETF 2.0 7 48 5.8 -0.5
IPAC iShares Core MSCI Pacific ETF 2.0 9 46 5.8 -0.4
BKF iShares MSCI BIC ETF 2.0 69 -14 14.1 +7.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.0 41 14 6.5 +0.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.0 18 37 6.8 +0.6
HFXI IQ FTSE International Equity Currency Neutral ETF 2.0 20 35 6.1 -0.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 2.0 58 -3 6.7 +0.5
AVEM Avantis Emerging Markets Equity ETF 1.9 33 22 7.8 +1.6
BINV Brandes International ETF 1.9 70 -15 9.0 +2.7
GSID Goldman Sachs MarketBeta International Equity ETF 1.9 20 35 6.2 -0.0
VXUS Vanguard Total International Stock ETF 1.9 5 50 7.1 +0.9
NETZ TCW Transform Systems ETF 1.9 75 -20 1.6 -4.7
DFSI Dimensional International Sustainability Core 1 ETF 1.9 24 31 5.9 -0.3
ISCF iShares International SmallCap Equity Factor ETF 1.9 23 32 7.6 +1.4
VEU Vanguard FTSE All-World ex-US Index Fund 1.9 4 51 7.2 +1.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 16 7.4 +1.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 36 19 5.8 -0.5
IXUS iShares Core MSCI Total International Stock ETF 1.8 7 48 7.0 +0.8
FEZ SPDR EURO STOXX 50 ETF 1.8 29 26 6.1 -0.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.8 8 47 6.7 +0.4
SCJ iShares MSCI Japan Small-Cap ETF 1.8 50 5 6.0 -0.2
FDCF Fidelity Disruptive Communications ETF 1.8 50 5 2.1 -4.1
FYLD Cambria Foreign Shareholder Yield ETF 1.8 59 -4 10.6 +4.3
ACWX iShares MSCI ACWI ex U.S. ETF 1.8 34 21 6.8 +0.6
JHEM John Hancock Multifactor Emerging Markets ETF 1.8 49 6 8.3 +2.1
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.8 35 20 12.0 +5.8
PIEL Pacer International Export Leaders ETF 1.8 60 -5 4.6 -1.7
XCEM Columbia EM Core ex-China ETF 1.8 16 39 5.7 -0.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.8 32 23 5.4 -0.9
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 25 6.9 +0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 1.7 31 24 6.0 -0.3
IDOG ALPS International Sector Dividend Dogs ETF 1.7 50 5 9.7 +3.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.7 32 23 8.2 +2.0
IQLT iShares MSCI Intl Quality Factor ETF 1.7 30 25 5.8 -0.5
VIDI Vident International Equity Strategy ETF 1.7 61 -6 8.9 +2.7
COPY Tweedy, Browne Insider + Value ETF 1.7 80 -25 16.1 +9.9
VEXC Vanguard Emerging Markets Ex-China ETF 1.7 7 48 6.3 +0.1
PID Invesco International Dividend Achievers ETF 1.7 53 2 4.2 -2.1
XCNY SPDR S&P Emerging Markets ex-China ETF 1.7 15 40 6.2 -0.0
FLGR Franklin FTSE Germany ETF 1.7 9 46 6.9 +0.7
EWY iShares MSCI South Korea ETF 1.7 58 -3 4.3 -1.9
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.7 53 2 5.8 -0.4
FLAX Franklin FTSE Asia Ex Japan ETF 1.7 19 36 7.9 +1.7
SAGP Strategas Global Policy Opportunities ETF 1.7 65 -10 4.9 -1.3
JPEF JPMorgan Equity Focus ETF 1.7 50 5 4.1 -2.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.6 70 -15 6.7 +0.5
DFAE Dimensional Emerging Core Equity Market ETF 1.6 35 20 7.7 +1.4
IMTM iShares MSCI Intl Momentum Factor ETF 1.6 30 25 5.1 -1.2
NUKZ Range Nuclear Renaissance Index ETF 1.6 85 -30 1.3 -4.9
ESGD iShares ESG Aware MSCI EAFE ETF 1.6 20 35 6.1 -0.1
SMIN iShares MSCI India Small Cap ETF 1.6 79 -24 3.7 -2.5
VYMI Vanguard International High Dividend Yield ETF 1.6 17 38 8.5 +2.3
EEMA iShares MSCI Emerging Markets Asia ETF 1.6 49 6 8.5 +2.2
IDMO Invesco S&P International Developed Momentum ETF 1.6 25 30 5.6 -0.6
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.6 32 23 5.4 -0.8
SDG iShares MSCI Global Sustainable Development Goals ETF 1.5 49 6 4.9 -1.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.5 38 17 7.6 +1.4
EMXC iShares MSCI Emerging Markets ex China ETF 1.5 25 30 5.8 -0.4
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.5 58 -3 8.7 +2.5
OBOR KraneShares MSCI One Belt One Road Index ETF 1.5 79 -24 7.2 +1.0
STXE Strive Emerging Markets Ex-China ETF 1.4 32 23 6.1 -0.1
BKEM BNY Mellon Emerging Markets Equity ETF 1.4 11 44 8.7 +2.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.4 15 40 8.7 +2.5
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.4 30 25 6.3 +0.1
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.4 80 -25 9.4 +3.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.4 36 19 8.4 +2.1
VIGI Vanguard International Dividend Appreciation ETF 1.4 10 45 6.4 +0.1
IQSI IQ Candriam International Equity ETF 1.4 15 40 5.9 -0.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.4 66 -11 8.0 +1.8
DLS WisdomTree International SmallCap Dividend Fund 1.4 58 -3 7.8 +1.6
DVYE iShares Emerging Markets Dividend ETF 1.4 49 6 17.7 +11.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.4 70 -15 7.8 +1.6
DEHP Dimensional Emerging Markets High Profitability ETF 1.3 41 14 5.5 -0.8
FPAG FPA Global Equity ETF 1.3 49 6 6.3 +0.1
EWG iShares MSCI Germany ETF 1.3 50 5 6.3 +0.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.3 45 10 8.9 +2.7
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 9.4 +3.2
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -33 8.9 +2.7
EFV iShares MSCI EAFE Value ETF 1.3 34 21 8.0 +1.8
IEMG iShares Core MSCI Emerging Markets ETF 1.3 9 46 9.0 +2.7
FGM First Trust Germany AlphaDEX Fund 1.3 80 -25 5.3 -1.0
SCHE Schwab Emerging Markets Equity ETF 1.3 11 44 10.0 +3.8
CZAR Themes Natural Monopoly ETF 1.3 35 20 5.5 -0.7
DTCR Global X Data Center & Digital Infrastructure ETF 1.3 50 5 4.1 -2.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 26 7.3 +1.1
DAX Global X DAX Germany ETF 1.2 21 34 6.5 +0.3
EWUS iShares MSCI United Kingdom Small Cap ETF 1.2 59 -4 7.7 +1.5
FENI Fidelity Enhanced International ETF 1.2 28 27 6.2 -0.1
VWO Vanguard FTSE Emerging Markets ETF 1.2 7 48 9.7 +3.5
EEM iShares MSCI Emerging Markets ETF 1.2 69 -14 8.7 +2.5
EDEN iShares MSCI Denmark ETF 1.2 53 2 7.0 +0.8
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 8 8.1 +1.9
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.2 75 -20 7.2 +1.0
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 11 8.3 +2.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 -4 9.2 +3.0
BLES Inspire Global Hope ETF 1.1 61 -6 6.2 -0.1
GEW Cambria Global EW ETF 1.1 29 26 5.7 -0.5
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 1.1 75 -20 6.2 -0.0
FRNW Fidelity Clean Energy ETF 1.1 39 16 2.0 -4.3
SMOG VanEck Low Carbon Energy ETF 1.1 61 -6 1.3 -4.9
FDD First Trust Stoxx European Select Dividend Index Fund 1.1 58 -3 10.7 +4.4
DGIN VanEck Digital India ETF 1.1 71 -16 1.6 -4.7
CGDG Capital Group Dividend Growers ETF 1.0 47 8 5.4 -0.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.0 30 25 8.9 +2.6
EMGF iShares Emerging Markets Equity Factor ETF 1.0 25 30 9.9 +3.7
SPEM SPDR Portfolio Emerging Markets ETF 1.0 7 48 10.1 +3.8
EWT iShares MSCI Taiwan ETF 1.0 58 -3 4.3 -2.0
GNR SPDR S&P Global Natural Resources ETF 1.0 40 15 8.5 +2.3
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 20 3.9 -2.3
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 10 9.9 +3.7
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.0 70 -15 9.5 +3.3
WSML iShares MSCI World Small-Cap ETF 1.0 15 40 5.8 -0.4
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.0 75 -20 2.4 -3.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.9 44 11 9.7 +3.4
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 8.1 +1.8
FKU First Trust United Kingdom AlphaDEX Fund 0.9 80 -25 7.7 +1.4
LDEM iShares ESG MSCI EM Leaders ETF 0.9 17 38 12.8 +6.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.9 29 26 8.8 +2.6
ESGG FlexShares STOXX Global ESG Select Index Fund 0.9 42 13 4.6 -1.7
DFE WisdomTree Europe SmallCap Dividend Fund 0.9 58 -3 8.0 +1.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.9 41 14 7.4 +1.2
EWO iShares MSCI Austria ETF 0.9 50 5 8.7 +2.5
GVAL Cambria Global Value ETF 0.9 68 -13 9.6 +3.4
FID First Trust S&P International Dividend Aristocrats ETF 0.8 60 -5 8.2 +2.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.8 90 -35 4.4 -1.8
EWM iShares MSCI Malaysia ETF 0.8 50 5 6.1 -0.2
CVAR Cultivar ETF 0.8 87 -32 7.2 +1.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 8.4 +2.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 13 8.0 +1.8
VSGX Vanguard ESG International Stock ETF 0.8 10 45 7.2 +1.0
CGXU Capital Group International Focus Equity ETF 0.8 54 1 4.3 -1.9
DEW WisdomTree Global High Dividend Fund 0.8 58 -3 7.6 +1.3
FLAU Franklin FTSE Australia ETF 0.7 9 46 6.0 -0.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.7 80 -25 5.6 -0.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 43 4.8 -1.4
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 35 5.9 -0.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 46 5.3 -1.0
VT Vanguard Total World Stock ETF 0.7 6 49 5.5 -0.8
GLOF iShares Global Equity Factor ETF 0.7 20 35 6.1 -0.2
ILF iShares Latin America 40 ETF 0.7 48 7 9.6 +3.3
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.7 45 10 -0.9 -7.2
ACWI iShares MSCI ACWI ETF 0.7 32 23 5.1 -1.2
ISRA VanEck Israel ETF 0.7 59 -4 6.0 -0.3
EIS iShares MSCI Israel ETF 0.7 58 -3 6.5 +0.3
EFAD ProShares MSCI EAFE Dividend Growers ETF 0.7 50 5 6.0 -0.3
EUDV ProShares MSCI Europe Dividend Growers ETF 0.7 55 0 5.9 -0.4
WRND IQ Global Equity R&D Leaders ETF 0.7 18 37 4.4 -1.8
FDEM Fidelity Emerging Markets Multifactor ETF 0.7 25 30 11.2 +4.9
FLTW Franklin FTSE Taiwan ETF 0.6 19 36 4.7 -1.6
EYLD Cambria Emerging Shareholder Yield ETF 0.6 66 -11 9.9 +3.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.6 80 -25 7.7 +1.5
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.6 60 -5 3.4 -2.8
CGW Invesco S&P Global Water Index ETF 0.6 57 -2 4.5 -1.8
EWN iShares MSCI Netherlands ETF 0.6 50 5 5.1 -1.1
WDIV SPDR S&P Global Dividend ETF 0.6 40 15 9.6 +3.3
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 5.9 -0.4
HAP VanEck Natural Resources ETF 0.6 50 5 6.8 +0.6
URTH iShares MSCI World ETF 0.6 24 31 4.7 -1.5
CGV Conductor Global Equity Value ETF 0.6 130 -75 7.9 +1.7
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.4 -0.8
DEM WisdomTree Emerging Markets High Dividend Fund 0.6 63 -8 11.2 +5.0
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 36 19 6.6 +0.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 40 9.7 +3.5
KOKU Xtrackers MSCI Kokusai Equity ETF 0.5 9 46 4.8 -1.5
OCEN IQ Clean Oceans ETF 0.5 45 10 4.5 -1.7
QWLD SPDR MSCI World StrategicFactors ETF 0.5 30 25 5.4 -0.9
CLNR IQ Cleaner Transport ETF 0.5 45 10 3.9 -2.4
JGLO JPMorgan Global Select Equity ETF 0.5 33 22 4.5 -1.7
MJSC MUFG Japan Small Cap Active ETF 0.5 85 -30 5.2 -1.1
DTAN Sparkline International Intangible Value ETF 0.5 55 0 7.6 +1.4
GWX SPDR S&P International Small Cap ETF 0.5 40 15 6.2 -0.1
GLBL Pacer MSCI World Industry Advantage ETF 0.5 65 -10 3.8 -2.4
ECNS iShares MSCI China Small-Cap ETF 0.5 59 -4 8.5 +2.3
GXC SPDR S & P China ETF 0.5 59 -4 18.0 +11.8
TOK iShares MSCI Kokusai ETF 0.5 26 29 4.7 -1.6
EDIV SPDR S&P Emerging Markets Dividend ETF 0.5 49 6 9.2 +3.0
IXP iShares Global Comm Services ETF 0.4 42 13 5.7 -0.6
DWMF WisdomTree International Multifactor Fund 0.4 38 17 6.9 +0.6
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 35 5.8 -0.5
JADE JPMorgan Active Developing Markets Equity ETF 0.4 65 -10 6.7 +0.5
EPOL iShares MSCI Poland ETF 0.4 59 -4 9.9 +3.7
FRDM Freedom 100 Emerging Markets ETF 0.4 49 6 6.3 +0.1
EMXF iShares ESG Advanced MSCI EM ETF 0.4 16 39 7.6 +1.3
NLR VanEck Uranium+Nuclear Energy ETF 0.4 61 -6 1.5 -4.7
URA Global X Uranium ETF 0.4 69 -14 0.8 -5.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 22 7.5 +1.3
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.4 80 -25 12.0 +5.8
FLCH Franklin FTSE China ETF 0.4 19 36 17.2 +11.0
AVSE Avantis Responsible Emerging Markets Equity ETF 0.4 33 22 7.4 +1.2
WLDR Affinity World Leaders Equity ETF 0.4 67 -12 6.7 +0.5
DFJ WisdomTree Japan SmallCap Dividend Fund 0.4 58 -3 7.0 +0.8
APIE ActivePassive International Equity ETF 0.4 45 10 6.9 +0.6
EFNL iShares MSCI Finland ETF 0.4 56 -1 6.3 +0.0
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.4 19 36 5.4 -0.8
AFK VanEck Africa Index ETF 0.3 98 -43 11.5 +5.3
GREK Global X MSCI Greece ETF 0.3 57 -2 10.3 +4.1
MCHI iShares MSCI China ETF 0.3 59 -4 19.4 +13.2
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.3 25 30 5.9 -0.3
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 10.6 +4.4
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 3.9 -2.3
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.2 20 35 0.9 -5.3
IPKW Invesco International BuyBack Achievers ETF 0.2 55 0 8.4 +2.2
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 37 0.0 -6.2
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 26 8.1 +1.8
EMMF WisdomTree Emerging Markets Multifactor Fund 0.2 48 7 9.2 +3.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 5.1 -1.1
ESGE iShares ESG Aware MSCI EM ETF 0.2 25 30 9.1 +2.9
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 2.9 -3.4
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 4.7 -1.6
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.7 -0.5
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 20 4.4 -1.9
PRNT 3D Printing ETF 0.1 66 -11 1.5 -4.8
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -10 7.0 +0.7
ACVF American Conservative Values ETF 0.1 75 -20 4.0 -2.2
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.2 -3.0
FLBR Franklin FTSE Brazil ETF 0.1 19 36 11.4 +5.1
FLLA Franklin FTSE Latin America ETF 0.1 19 36 10.5 +4.3
EWZS iShares MSCI Brazil Small-Cap ETF 0.1 59 -4 11.0 +4.8
IUS Invesco RAFI Strategic US ETF 0.1 19 36 6.1 -0.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 6.8 +0.5
TUR iShares MSCI Turkey ETF 0.1 58 -3 12.6 +6.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.1 40 15 6.8 +0.6

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

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RESULTS & ESTIMATES

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

 

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

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

OTHER FUNDAMENTAL METRICS

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

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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

Historical valuation trends

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

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

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.5 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 6.2 %
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.