Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 6.5% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 18.1x P/Sales
ratio		 0.9x
P/BV
ratio		 1.4x Div.
yield		 2.2%


  • 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 98
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
PRYSMIAN SPA 4.4 %
GRUPO FERROVIAL 3.6 %
POSCO 3.3 %
HEIDELBERGCEMENT AG 3.3 %
ARCELORMITTAL SA 3.3 %
KOMATSU LTD 3.1 %
LARSEN & TOUBRO LIMITED 3.1 %
CEMEX SAB-SPONS ADR PART CER 3.0 %
TATA STEEL LTD 2.9 %
NIPPON STEEL CORP 2.9 %
Total 32.8 %

TOP COUNTRY EXPOSURE
INDIA 20.1 %
JAPAN 14.2 %
SPAIN 7.8 %
ITALY 7.4 %
CANADA 6.9 %
FRANCE 6.3 %
SOUTH KOREA 6.0 %
CHINA 3.9 %
SWEDEN 3.9 %
LUXEMBOURG 3.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
27.0% 21.8% -- -- 13.9%

Market Correlations
versus... Beta R-squared
S&P500 0.37 17%
MSCI EAFE 0.28 9%
MSCI Emg. Mkts. 0.19 4%

Technical Indicators
Recent close $29.14
30d moving avg. $28.70
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.46%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 400 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™: 6.5%


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 9.0 39 16 10.5 +4.0
FEP First Trust Europe AlphaDEX Fund 8.1 80 -25 7.9 +1.4
FEUZ First Trust Eurozone AlphaDEX ETF 7.9 80 -25 7.5 +0.9
NFTY First Trust India NIFTY 50 Equal Weight ETF 7.9 80 -25 4.8 -1.7
MXI iShares Global Materials ETF 7.8 41 14 7.2 +0.7
IVAL Alpha Architect International Quantitative Value ETF 7.3 49 6 10.0 +3.4
JHID John Hancock International High Dividend ETF 7.3 46 9 9.2 +2.6
FLIN Franklin FTSE India ETF 6.9 19 36 3.9 -2.6
EWP iShares MSCI Spain ETF 6.8 50 5 6.7 +0.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 6.8 58 -3 4.4 -2.1
BLLD JPMorgan Sustainable Infrastructure ETF 6.8 49 6 5.9 -0.6
ITOL Tema International Durable Quality ETF 6.5 60 -5 5.7 -0.8
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.5 46 9 5.7 -0.9
PIN Invesco India ETF 6.4 78 -23 4.6 -1.9
INDY iShares India 50 ETF 6.3 89 -34 4.9 -1.6
OAIM OneAscent International Equity ETF 6.3 95 -40 5.3 -1.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.2 47 8 5.8 -0.7
NDIA Global X India Active ETF 6.2 75 -20 5.3 -1.2
TEMP JPMorgan Climate Change Solutions ETF 6.0 49 6 5.8 -0.7
EPI WisdomTree India Earnings Fund 6.0 85 -30 4.8 -1.7
INDA iShares MSCI India ETF 5.9 65 -10 4.5 -2.1
SUPL ProShares Supply Chain Logistics ETF 5.8 58 -3 10.2 +3.7
EWI iShares MSCI Italy ETF 5.6 50 5 10.8 +4.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.5 42 13 6.5 +0.0
FIDI Fidelity International High Dividend ETF 5.4 18 37 8.0 +1.5
POW VistaShares Electrification Supercycle ETF 5.2 75 -20 3.4 -3.1
DXJ WisdomTree Japan Hedged Equity Fund 5.2 48 7 6.6 +0.1
AIVI WisdomTree International AI Enhanced Value Fund 5.0 58 -3 6.7 +0.2
FLCA Franklin FTSE Canada ETF 4.9 9 46 6.2 -0.3
SHPP Pacer Industrials and Logistics ETF 4.9 60 -5 8.3 +1.8
BBCA JPMorgan BetaBuilders Canada ETF 4.9 19 36 6.1 -0.4
UIVM VictoryShares International Value Momentum ETF 4.9 35 20 8.4 +1.9
RNEM First Trust Emerging Markets Equity Select ETF 4.9 75 -20 8.4 +1.9
BKCI BNY Mellon Concentrated International ETF 4.8 80 -25 5.1 -1.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.8 9 46 8.9 +2.4
OSEA Harbor International Compounders ETF 4.8 55 0 4.8 -1.7
IQRA IQ CBRE Real Assets ETF 4.7 65 -10 5.7 -0.8
AVES Avantis Emerging Markets Value ETF 4.6 36 19 10.5 +4.0
JIG JPMorgan International Growth ETF 4.6 55 0 4.7 -1.9
BINV Brandes International ETF 4.5 70 -15 9.3 +2.7
HEDJ WisdomTree Europe Hedged Equity Fund 4.5 58 -3 6.4 -0.1
PBD Invesco Global Clean Energy ETF 4.5 75 -20 0.8 -5.7
VCLN Virtus Duff & Phelps Clean Energy ETF 4.4 59 -4 3.9 -2.6
WTRE WisdomTree New Economy Real Estate Fund 4.4 58 -3 7.1 +0.6
SRVR Pacer Data & Infrastructure Real Estate ETF 4.4 55 0 4.7 -1.9
DSTX Distillate International Fundamental Stability & Value ETF 4.4 55 0 7.6 +1.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 4.3 65 -10 10.6 +4.1
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 4.3 58 -3 8.4 +1.8
AVIV Avantis International Large Cap Value ETF 4.2 25 30 8.3 +1.7
TPIF Timothy Plan International ETF 4.2 62 -7 6.0 -0.5
EWQ iShares MSCI France ETF 4.2 53 2 6.8 +0.3
IMOM Alpha Architect International Quantitative Momentum ETF 4.1 49 6 4.7 -1.8
FRNW Fidelity Clean Energy ETF 4.1 39 16 2.3 -4.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.1 80 -25 8.4 +1.9
TOLL Tema Durable Quality ETF 3.9 75 -20 5.1 -1.5
NXTG First Trust Indxx NextG ETF 3.8 70 -15 4.8 -1.7
LVHI Franklin International Low Volatility High Dividend Index ET 3.8 40 15 10.1 +3.6
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.8 58 -3 6.8 +0.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 3.7 24 31 7.1 +0.6
IQDG WisdomTree International Quality Dividend Growth Fund 3.7 42 13 6.9 +0.3
CGIE Capital Group International Equity ETF 3.7 54 1 4.9 -1.6
OTGL OTG Latin America ETF 3.6 269 -214 8.5 +2.0
KNO AXS Knowledge Leaders ETF 3.6 78 -23 5.6 -0.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.5 45 10 6.8 +0.2
DFIV Dimensional International Value ETF 3.5 27 28 8.9 +2.4
JHMD John Hancock Multifactor Developed International ETF 3.5 39 16 7.1 +0.6
FLKR Franklin FTSE South Korea ETF 3.5 9 46 7.0 +0.5
FIVA Fidelity International Value Factor ETF 3.5 18 37 9.1 +2.6
FBOT Fidelity Disruptive Automation ETF 3.5 50 5 3.3 -3.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 3.4 29 26 7.4 +0.9
INTF iShares International Equity Factor ETF 3.3 15 40 7.3 +0.8
DFEV Dimensional Emerging Markets Value ETF 3.3 43 12 11.7 +5.2
UEVM VictoryShares Emerging Markets Value Momentum ETF 3.2 45 10 10.0 +3.5
EZU iShares MSCI Eurozone ETF 3.2 52 3 6.4 -0.1
FAN First Trust Global Wind Energy ETF 3.2 60 -5 4.3 -2.3
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 3.2 25 30 7.1 +0.6
IEUS iShares MSCI Europe Small-Cap ETF 3.1 42 13 7.3 +0.8
AVDE Avantis International Equity ETF 3.1 23 32 7.0 +0.5
BBJP JPMorgan BetaBuilders Japan ETF 3.1 19 36 6.0 -0.5
FENI Fidelity Enhanced International ETF 3.0 28 27 6.2 -0.4
CIL VictoryShares International Volatility Wtd ETF 3.0 45 10 6.4 -0.1
JPXN iShares JPX-Nikkei 400 ETF 2.9 48 7 6.1 -0.4
QINT American Century Quality Diversified International ETF 2.9 39 16 6.8 +0.3
AVDV Avantis International Small Cap Value ETF 2.9 36 19 8.6 +2.1
FLJP Franklin FTSE Japan ETF 2.9 9 46 5.7 -0.8
IVLU iShares MSCI Intl Value Factor ETF 2.9 30 25 9.6 +3.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.9 47 8 5.6 -0.9
FLJH Franklin FTSE Japan Hedged ETF 2.9 9 46 5.7 -0.8
XC WisdomTree Emerging Markets Ex-China Fund 2.9 32 23 5.7 -0.8
SCHY Schwab International Dividend Equity ETF 2.9 14 41 9.6 +3.1
UMMA Wahed Dow Jones Islamic World ETF 2.8 65 -10 4.7 -1.8
JPIN J.P. Morgan Diversified Return International Equity ETF 2.8 37 18 7.8 +1.2
FCA First Trust China AlphaDEX Fund 2.8 80 -25 9.4 +2.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.8 50 5 10.2 +3.7
FNDF Schwab Fundamental International Large Co. Index ETF 2.8 25 30 8.9 +2.4
EXI iShares Global Industrials ETF 2.8 42 13 4.4 -2.2
DMXF iShares ESG Advanced MSCI EAFE ETF 2.8 12 43 5.4 -1.2
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.8 65 -10 4.6 -2.0
PPIE Putnam PanAgora ESG International Equity ETF 2.8 49 6 7.1 +0.6
DOL WisdomTree International LargeCap Dividend Fund 2.7 48 7 6.8 +0.2
FEM First Trust Emerging Markets AlphaDEX Fund 2.7 80 -25 11.4 +4.9
EFG iShares MSCI EAFE Growth ETF 2.7 36 19 4.1 -2.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.7 40 15 7.0 +0.5
DWM WisdomTree International Equity Fund 2.6 48 7 6.9 +0.4
AVEM Avantis Emerging Markets Equity ETF 2.6 33 22 8.1 +1.6
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.6 39 16 7.5 +1.0
WWJD Inspire International ETF 2.6 80 -25 7.1 +0.6
GCOW Pacer Global Cash Cows Dividend ETF 2.6 60 -5 10.4 +3.9
EWJV iShares MSCI Japan Value ETF 2.6 15 40 7.8 +1.3
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.6 33 22 7.9 +1.4
DXIV Dimensional International Vector Equity ETF 2.6 34 21 7.4 +0.9
DTH WisdomTree International High Dividend Fund 2.5 58 -3 8.0 +1.4
DIM WisdomTree International MidCap Dividend Fund 2.5 58 -3 7.2 +0.7
DISV Dimensional International Small Cap Value ETF 2.5 42 13 8.9 +2.4
TMFG Motley Fool Global Opportunities ETF 2.5 85 -30 4.0 -2.5
JHEM John Hancock Multifactor Emerging Markets ETF 2.5 49 6 9.4 +2.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.5 45 10 8.3 +1.8
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 30 6.5 +0.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.5 25 30 6.9 +0.4
BKIE BNY Mellon International Equity ETF 2.5 4 51 6.6 +0.1
DFIC Dimensional International Core Equity 2 ETF 2.5 23 32 7.1 +0.5
DFIS Dimensional International Small Cap ETF 2.5 39 16 7.0 +0.5
NETZ TCW Transform Systems ETF 2.5 75 -20 2.5 -4.0
ASLV Allspring Special Large Value ETF 2.5 35 20 6.5 -0.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.4 25 30 6.1 -0.4
FJP First Trust Japan AlphaDEX Fund 2.4 80 -25 7.9 +1.4
EWJ iShares MSCI Japan ETF 2.4 50 5 5.5 -1.1
VIDI Vident International Equity Strategy ETF 2.4 61 -6 10.3 +3.8
STXI Strive International Developed Markets ETF 2.4 29 26 6.3 -0.2
IMFL Invesco International Developed Dynamic Multifactor ETF 2.4 34 21 5.8 -0.7
DFAI Dimensional International Core Equity Market ETF 2.4 18 37 6.7 +0.2
RGEF Rockefeller Global Equity ETF 2.4 55 0 4.6 -2.0
DIVI Franklin International Core Dividend Tilt Index ETF 2.4 9 46 7.5 +1.0
GLIN VanEck India Growth Leaders ETF 2.4 77 -22 5.5 -1.0
IEUR iShares Core MSCI Europe ETF 2.3 11 44 7.1 +0.6
SPEU SPDR Portfolio Europe ETF 2.3 7 48 7.1 +0.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.3 39 16 15.5 +9.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 25 7.4 +0.9
VGK Vanguard FTSE Europe ETF 2.3 6 49 7.2 +0.7
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 31 6.8 +0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.3 32 23 8.5 +2.0
FDCF Fidelity Disruptive Communications ETF 2.3 50 5 3.9 -2.7
HFXI IQ FTSE International Equity Currency Neutral ETF 2.3 20 35 6.6 +0.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.3 18 37 7.3 +0.8
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.2 49 6 6.8 +0.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.2 80 -25 4.2 -2.4
ARKX ARK Space Exploration & Innovation ETF 2.2 75 -20 0.2 -6.3
FLAX Franklin FTSE Asia Ex Japan ETF 2.2 19 36 8.4 +1.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.2 32 23 6.3 -0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.2 46 9 6.5 0.0
FLSW Franklin FTSE Switzerland ETF 2.2 9 46 6.1 -0.4
FPAG FPA Global Equity ETF 2.2 49 6 5.6 -1.0
FSZ First Trust Switzerland AlphaDEX Fund 2.2 80 -25 6.4 -0.2
EWL iShares MSCI Switzerland ETF 2.2 50 5 6.0 -0.5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.2 58 -3 9.4 +2.9
SCHC Schwab International Small-Cap Equity ETF 2.2 11 44 7.3 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.2 41 14 7.1 +0.6
IEV iShares Europe ETF 2.2 67 -12 6.6 +0.0
ICPY Tweedy, Browne International Insider Value ETF 2.2 80 -25 11.4 +4.9
EWC iShares MSCI Canada ETF 2.2 50 5 5.8 -0.7
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 7.0 +0.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.1 35 20 6.2 -0.3
FLEE Franklin FTSE Europe ETF 2.1 9 46 7.0 +0.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.1 24 31 7.3 +0.8
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.1 20 35 6.1 -0.4
SCZ iShares MSCI EAFE Small-Cap ETF 2.1 40 15 6.8 +0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.1 36 19 6.3 -0.2
FICS First Trust International Developed Capital Strength ETF 2.1 70 -15 7.3 +0.8
SPDW SPDR Portfolio Developed World ex-US ETF 2.1 3 52 6.6 +0.1
GSID Goldman Sachs MarketBeta International Equity ETF 2.1 20 35 6.5 -0.1
VEA Vanguard FTSE Developed Markets ETF 2.1 3 52 6.8 +0.3
DEXC Dimensional Emerging Markets ex China Core EquityETF 2.0 53 2 7.2 +0.6
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 14.9 +8.3
IEFA iShares Core MSCI EAFE ETF 2.0 7 48 6.7 +0.2
DGT State Street SPDR Global Dow ETF 2.0 50 5 6.6 +0.1
IDEV iShares Core MSCI International Developed Markets ETF 2.0 4 51 6.7 +0.1
EWY iShares MSCI South Korea ETF 2.0 58 -3 6.4 -0.1
XCNY SPDR S&P Emerging Markets ex-China ETF 2.0 15 40 7.2 +0.6
STXE Strive Emerging Markets Ex-China ETF 2.0 32 23 7.4 +0.9
VWID Virtus WMC International Dividend ETF 2.0 49 6 8.0 +1.4
BKF iShares MSCI BIC ETF 2.0 69 -14 13.1 +6.6
EFA iShares MSCI EAFE ETF 2.0 35 20 6.4 -0.2
SCHF Schwab International Equity ETF 2.0 6 49 6.8 +0.3
CCNR ALPS CoreCommodity Natural Resources ETF 2.0 39 16 8.3 +1.7
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.0 12 43 5.7 -0.8
FNDC Schwab Fundamental International Small Co. Index ETF 2.0 39 16 5.7 -0.9
EWD iShares MSCI Sweden ETF 2.0 54 1 5.2 -1.4
GKAT Scharf Global Opportunity ETF 2.0 57 -2 6.4 -0.1
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.0 48 7 5.3 -1.2
DLS WisdomTree International SmallCap Dividend Fund 2.0 58 -3 7.9 +1.4
ROAM Hartford Multifactor Emerging Markets ETF 1.9 44 11 11.2 +4.7
AVDS Avantis International Small Cap Equity ETF 1.9 30 25 6.6 +0.1
BKEM BNY Mellon Emerging Markets Equity ETF 1.9 11 44 9.2 +2.7
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.9 35 20 12.5 +6.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.9 14 41 5.9 -0.6
VXUS Vanguard Total International Stock ETF 1.9 5 50 7.6 +1.1
VEU Vanguard FTSE All-World ex-US Index Fund 1.9 4 51 7.6 +1.1
AVSD Avantis Responsible International Equity ETF 1.9 23 32 5.1 -1.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.9 15 40 9.5 +3.0
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 7.5 +1.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.9 39 16 6.4 -0.1
ECON Columbia Emerging Markets Consumer ETF 1.9 49 6 11.5 +5.0
DIHP Dimensional International High Profitability ETF 1.9 29 26 6.6 +0.0
COPY Tweedy, Browne Insider + Value ETF 1.9 80 -25 11.6 +5.1
IBAT iShares Energy Storage & Materials ETF 1.9 47 8 2.6 -4.0
RODE Hartford Multifactor Diversified International ETF 1.9 29 26 10.3 +3.8
RAYJ Rayliant SMDAM Japan Equity ETF 1.8 72 -17 3.5 -3.0
DWMF WisdomTree International Multifactor Fund 1.8 38 17 7.1 +0.5
EWG iShares MSCI Germany ETF 1.8 50 5 6.6 +0.0
EMXC iShares MSCI Emerging Markets ex China ETF 1.8 25 30 6.9 +0.4
RFEU First Trust Riverfront Dynamic Europe ETF 1.8 83 -28 10.0 +3.5
ACWX iShares MSCI ACWI ex U.S. ETF 1.8 34 21 7.3 +0.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.8 36 19 9.1 +2.6
IMTM iShares MSCI Intl Momentum Factor ETF 1.8 30 25 5.2 -1.4
DFAE Dimensional Emerging Core Equity Market ETF 1.8 35 20 8.6 +2.1
SMIN iShares MSCI India Small Cap ETF 1.8 79 -24 3.7 -2.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.8 38 17 8.6 +2.1
OBOR KraneShares MSCI One Belt One Road Index ETF 1.8 79 -24 7.7 +1.2
FGM First Trust Germany AlphaDEX Fund 1.8 80 -25 6.8 +0.3
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 25 7.3 +0.8
EEMA iShares MSCI Emerging Markets Asia ETF 1.7 49 6 9.2 +2.6
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 31 6.1 -0.4
NUKZ Range Nuclear Renaissance Index ETF 1.7 85 -30 1.2 -5.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.7 66 -11 9.0 +2.4
FEZ SPDR EURO STOXX 50 ETF 1.7 29 26 6.4 -0.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.7 15 40 7.4 +0.9
PID Invesco International Dividend Achievers ETF 1.7 53 2 5.1 -1.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 8 47 7.1 +0.6
VPL Vanguard FTSE Pacific ETF 1.7 7 48 6.3 -0.3
SCJ iShares MSCI Japan Small-Cap ETF 1.7 50 5 6.4 -0.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.7 32 23 5.9 -0.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.7 45 10 9.6 +3.1
FDEM Fidelity Emerging Markets Multifactor ETF 1.7 25 30 12.2 +5.7
PATN Pacer Nasdaq International Patent Leaders ETF 1.7 65 -10 5.3 -1.2
FYLD Cambria Foreign Shareholder Yield ETF 1.7 59 -4 11.1 +4.6
FLGR Franklin FTSE Germany ETF 1.6 9 46 7.2 +0.7
IQLT iShares MSCI Intl Quality Factor ETF 1.6 30 25 6.1 -0.5
DAX Global X DAX Germany ETF 1.6 21 34 7.0 +0.5
VYMI Vanguard International High Dividend Yield ETF 1.6 17 38 9.0 +2.5
IPAC iShares Core MSCI Pacific ETF 1.6 9 46 6.0 -0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.6 59 -4 8.4 +1.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.6 70 -15 8.4 +1.9
IDMO Invesco S&P International Developed Momentum ETF 1.6 25 30 5.7 -0.8
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.5 80 -25 5.9 -0.6
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.5 70 -15 3.9 -2.7
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.5 75 -20 10.0 +3.5
DVYE iShares Emerging Markets Dividend ETF 1.5 49 6 18.1 +11.6
DTCR Global X Data Center & Digital Infrastructure ETF 1.5 50 5 3.9 -2.7
SCHE Schwab Emerging Markets Equity ETF 1.5 11 44 10.6 +4.1
ISCF iShares International SmallCap Equity Factor ETF 1.5 23 32 8.1 +1.5
BLES Inspire Global Hope ETF 1.5 61 -6 6.8 +0.3
NUDM Nuveen ESG International Developed Markets Equity ETF 1.4 31 24 5.9 -0.6
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.4 30 25 6.7 +0.2
IGRO iShares International Dividend Growth ETF 1.4 15 40 6.9 +0.4
IEMG iShares Core MSCI Emerging Markets ETF 1.4 9 46 9.8 +3.3
GNR SPDR S&P Global Natural Resources ETF 1.4 40 15 10.3 +3.7
EDEN iShares MSCI Denmark ETF 1.4 53 2 6.2 -0.3
EEM iShares MSCI Emerging Markets ETF 1.4 69 -14 9.5 +2.9
VWO Vanguard FTSE Emerging Markets ETF 1.4 7 48 10.2 +3.7
DEHP Dimensional Emerging Markets High Profitability ETF 1.4 41 14 6.4 -0.2
DFE WisdomTree Europe SmallCap Dividend Fund 1.4 58 -3 8.0 +1.5
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.4 75 -20 2.9 -3.6
FDD First Trust Stoxx European Select Dividend Index Fund 1.4 58 -3 11.0 +4.4
EFV iShares MSCI EAFE Value ETF 1.3 34 21 8.5 +2.0
IQSI IQ Candriam International Equity ETF 1.3 15 40 6.2 -0.3
VIGI Vanguard International Dividend Appreciation ETF 1.3 10 45 6.3 -0.2
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 9.4 +2.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.3 58 -3 6.6 +0.1
CZAR Themes Natural Monopoly ETF 1.3 35 20 5.5 -1.0
ESGD iShares ESG Aware MSCI EAFE ETF 1.3 20 35 6.3 -0.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.3 80 -25 10.6 +4.1
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.3 70 -15 7.5 +1.0
SMOG VanEck Low Carbon Energy ETF 1.3 61 -6 1.5 -5.0
FPXI First Trust International Equity Opportunities ETF 1.3 70 -15 4.4 -2.2
MJSC MUFG Japan Small Cap Active ETF 1.3 85 -30 5.7 -0.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.3 44 11 10.3 +3.8
EWM iShares MSCI Malaysia ETF 1.2 50 5 6.4 -0.1
AGRW Allspring LT Large Growth ETF 1.2 35 20 3.6 -3.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.2 30 25 9.6 +3.0
DGIN VanEck Digital India ETF 1.2 71 -16 1.3 -5.2
DEM WisdomTree Emerging Markets High Dividend Fund 1.2 63 -8 12.7 +6.1
DFJ WisdomTree Japan SmallCap Dividend Fund 1.2 58 -3 7.1 +0.6
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.2 50 5 5.8 -0.7
EMGF iShares Emerging Markets Equity Factor ETF 1.2 25 30 10.8 +4.3
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 1.2 58 -3 7.0 +0.5
CGV Conductor Global Equity Value ETF 1.1 130 -75 7.7 +1.2
ESGG FlexShares STOXX Global ESG Select Index Fund 1.1 42 13 5.2 -1.3
WLDR Affinity World Leaders Equity ETF 1.1 67 -12 7.1 +0.6
JIVE JPMorgan International Value ETF 1.1 55 0 10.7 +4.2
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 10.4 +3.9
EWT iShares MSCI Taiwan ETF 1.1 58 -3 5.5 -1.0
INEQ Columbia International Equity Income ETF 1.0 45 10 7.6 +1.0
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.0 20 35 6.1 -0.5
GEW Cambria Global EW ETF 1.0 29 26 5.9 -0.6
XCEM Columbia EM Core ex-China ETF 1.0 16 39 7.6 +1.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.0 41 14 8.1 +1.6
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.0 42 13 9.3 +2.8
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.0 90 -35 5.1 -1.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.0 29 26 8.8 +2.3
EMMF WisdomTree Emerging Markets Multifactor Fund 1.0 48 7 6.9 +0.4
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 1.0 75 -20 7.2 +0.7
LDEM iShares ESG MSCI EM Leaders ETF 0.9 17 38 12.8 +6.3
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -33 8.8 +2.2
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 8 8.4 +1.9
CGXU Capital Group International Focus Equity ETF 0.9 54 1 5.3 -1.2
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 8.9 +2.4
EWUS iShares MSCI United Kingdom Small Cap ETF 0.9 59 -4 7.7 +1.2
SLX VanEck Steel ETF 0.9 56 -1 13.7 +7.1
EWO iShares MSCI Austria ETF 0.9 50 5 9.1 +2.6
GVAL Cambria Global Value ETF 0.9 68 -13 10.5 +4.0
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.9 33 22 9.4 +2.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 8.4 +1.9
FLTW Franklin FTSE Taiwan ETF 0.8 19 36 5.8 -0.7
HAP VanEck Natural Resources ETF 0.8 50 5 8.8 +2.3
CGDG Capital Group Dividend Growers ETF 0.8 47 8 6.0 -0.5
FDEV Fidelity International Multifactor ETF 0.7 18 37 7.4 +0.9
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 43 4.9 -1.6
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -5 4.0 -2.5
CGW Invesco S&P Global Water Index ETF 0.7 57 -2 4.7 -1.8
FLCH Franklin FTSE China ETF 0.7 19 36 15.4 +8.9
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.7 70 -15 12.3 +5.7
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.7 80 -25 9.3 +2.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 46 5.5 -1.0
DEW WisdomTree Global High Dividend Fund 0.7 58 -3 8.2 +1.7
OCEN IQ Clean Oceans ETF 0.7 45 10 5.3 -1.2
VT Vanguard Total World Stock ETF 0.7 6 49 5.7 -0.8
GLOF iShares Global Equity Factor ETF 0.7 20 35 6.6 +0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 8 7.7 +1.2
CLNR IQ Cleaner Transport ETF 0.7 45 10 5.2 -1.4
VSGX Vanguard ESG International Stock ETF 0.7 10 45 7.5 +1.0
ACWI iShares MSCI ACWI ETF 0.6 32 23 5.3 -1.2
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.6 45 10 1.7 -4.8
EYLD Cambria Emerging Shareholder Yield ETF 0.6 66 -11 11.6 +5.1
EIS iShares MSCI Israel ETF 0.6 58 -3 7.6 +1.1
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 6.3 -0.2
NUEM Nuveen ESG Emerging Markets Equity ETF 0.6 36 19 7.2 +0.7
EWN iShares MSCI Netherlands ETF 0.6 50 5 5.3 -1.2
ISRA VanEck Israel ETF 0.6 59 -4 7.0 +0.4
ILF iShares Latin America 40 ETF 0.6 48 7 11.9 +5.4
WRND IQ Global Equity R&D Leaders ETF 0.6 18 37 7.5 +1.0
KOKU Xtrackers MSCI Kokusai Equity ETF 0.6 9 46 5.1 -1.4
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.6 -1.0
URTH iShares MSCI World ETF 0.6 24 31 4.9 -1.6
AVSE Avantis Responsible Emerging Markets Equity ETF 0.5 33 22 7.8 +1.3
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 35 5.7 -0.8
QWLD SPDR MSCI World StrategicFactors ETF 0.5 30 25 5.7 -0.8
CVAR Cultivar ETF 0.5 87 -32 7.5 +1.0
KALL KraneShares MSCI All China Index ETF 0.5 49 6 13.4 +6.8
EFRA iShares Environmental Infrastructure and Industrials ETF 0.5 47 8 5.4 -1.2
EMXF iShares ESG Advanced MSCI EM ETF 0.5 16 39 7.9 +1.4
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.5 80 -25 14.2 +7.6
EPOL iShares MSCI Poland ETF 0.5 59 -4 11.3 +4.8
TOK iShares MSCI Kokusai ETF 0.4 26 29 4.9 -1.6
FID First Trust S&P International Dividend Aristocrats ETF 0.4 60 -5 7.7 +1.2
WDIV SPDR S&P Global Dividend ETF 0.4 40 15 8.9 +2.4
GXC SPDR S & P China ETF 0.4 59 -4 15.9 +9.4
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -10 4.1 -2.5
EDIV SPDR S&P Emerging Markets Dividend ETF 0.4 49 6 9.4 +2.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 6 5.1 -1.4
APIE ActivePassive International Equity ETF 0.4 45 10 7.1 +0.6
XT iShares Exponential Technologies ETF 0.4 46 9 4.5 -2.1
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.4 20 35 3.0 -3.5
JADE JPMorgan Active Developing Markets Equity ETF 0.4 65 -10 7.7 +1.2
CTEC Global X CleanTech ETF 0.4 50 5 0.7 -5.8
SNSR Global X Internet of Things ETF 0.4 68 -13 4.6 -1.9
GREK Global X MSCI Greece ETF 0.4 57 -2 10.8 +4.3
IXP iShares Global Comm Services ETF 0.4 42 13 5.6 -0.9
DTAN Sparkline International Intangible Value ETF 0.4 55 0 8.1 +1.6
MCHI iShares MSCI China ETF 0.3 59 -4 16.9 +10.4
EWX SPDR S&P Emerging Markets Small Cap ETF 0.3 65 -10 7.8 +1.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.3 40 15 6.7 +0.1
ESGE iShares ESG Aware MSCI EM ETF 0.3 25 30 9.7 +3.2
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 11.7 +5.2
JGLO JPMorgan Global Select Equity ETF 0.3 33 22 5.0 -1.5
RAYD Rayliant Quantitative Developed Market Equity ETF 0.3 80 -25 4.5 -2.1
FLAU Franklin FTSE Australia ETF 0.3 9 46 6.3 -0.3
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 4.6 -2.0
FRDM Freedom 100 Emerging Markets ETF 0.2 49 6 7.3 +0.8
IPKW Invesco International BuyBack Achievers ETF 0.2 55 0 8.8 +2.3
URA Global X Uranium ETF 0.2 69 -14 1.1 -5.5
NLR VanEck Uranium+Nuclear Energy ETF 0.2 61 -6 1.6 -4.9
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 26 7.5 +1.0
ECNS iShares MSCI China Small-Cap ETF 0.2 59 -4 9.2 +2.7
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.9 -0.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 5.3 -1.2
FLBR Franklin FTSE Brazil ETF 0.2 19 36 14.6 +8.0
EWZS iShares MSCI Brazil Small-Cap ETF 0.2 59 -4 12.0 +5.5
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.2 25 30 6.0 -0.5
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 5.0 -1.6
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 3.0 -3.5
FLLA Franklin FTSE Latin America ETF 0.2 19 36 12.8 +6.3
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.7 -2.8
ACVF American Conservative Values ETF 0.1 75 -20 4.3 -2.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 6.3 -0.3
PRNT 3D Printing ETF 0.1 66 -11 1.8 -4.7
TBLU Tortoise Global Water ESG ETF 0.1 40 15 4.6 -1.9
IUS Invesco RAFI Strategic US ETF 0.1 19 36 6.8 +0.3
TUR iShares MSCI Turkey ETF 0.1 58 -3 15.7 +9.2
GWX SPDR S&P International Small Cap ETF 0.1 40 15 6.5 -0.1
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -34 4.8 -1.7

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 1.3 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 6.5 %
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.