Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 7.5% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 15.0x P/Sales
ratio		 0.8x
P/BV
ratio		 1.3x Div.
yield		 2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating

FUND BASICS
Category Global Equities
Fund Sponsor Global X
Website www.globalxetfs.com/ipav
Inception date Aug 27, 2024
Assets (mns) $6
Currency USD
Expense ratio 55 bp
Distributions

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 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
PRYSMIAN SPA 3.5 %
HEIDELBERGCEMENT AG 3.3 %
KOMATSU LTD 3.2 %
GRUPO FERROVIAL 3.1 %
POSCO 3.1 %
CELLNEX TELECOM S.A. 3.0 %
VINCI SA 3.0 %
ULTRATECH CEMENT LTD 3.0 %
SHIN-ETSU CHEMICAL CO LTD 3.0 %
TATA STEEL LTD 3.0 %
Total 31.3 %

TOP COUNTRY EXPOSURE
INDIA 21.1 %
JAPAN 14.1 %
CANADA 8.1 %
SPAIN 7.9 %
ITALY 6.6 %
FRANCE 6.6 %
SOUTH KOREA 6.2 %
SWEDEN 4.2 %
CHINA 3.6 %
GERMANY 3.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
18.5% -- -- -- 12.0%

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

Technical Indicators
Recent close $27.80
30d moving avg. $26.69
Annualized volatility 0.0%
Short interest (ETF) 2.4%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.00%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 384 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™: 7.5%


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 10.0 39 16 13.8 +6.3
IVAL Alpha Architect International Quantitative Value ETF 9.6 49 6 10.6 +3.1
MXI iShares Global Materials ETF 7.9 41 14 7.9 +0.3
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 7.4 46 9 5.7 -1.9
EWP iShares MSCI Spain ETF 7.1 50 5 7.2 -0.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 6.9 47 8 5.8 -1.7
NFTY First Trust India NIFTY 50 Equal Weight ETF 6.6 80 -25 4.9 -2.6
JHID John Hancock International High Dividend ETF 6.5 46 9 9.8 +2.3
NDIA Global X India Active ETF 6.5 75 -20 4.7 -2.8
SUPL ProShares Supply Chain Logistics ETF 6.4 58 -3 11.3 +3.8
INDY iShares India 50 ETF 6.3 89 -34 4.6 -2.9
BLLD JPMorgan Sustainable Infrastructure ETF 6.2 49 6 6.1 -1.4
FLIN Franklin FTSE India ETF 6.2 19 36 3.9 -3.6
PIN Invesco India ETF 6.1 78 -23 4.3 -3.2
INDA iShares MSCI India ETF 6.0 65 -10 4.4 -3.1
OAIM OneAscent International Equity ETF 5.9 95 -40 5.6 -1.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.8 58 -3 4.7 -2.8
FLCA Franklin FTSE Canada ETF 5.7 9 46 6.8 -0.7
SHPP Pacer Industrials and Logistics ETF 5.7 60 -5 8.4 +0.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.5 42 13 6.7 -0.9
TOLL Tema Monopolies and Oligopolies ETF 5.5 75 -20 3.9 -3.6
EPI WisdomTree India Earnings Fund 5.4 85 -30 4.8 -2.7
BBCA JPMorgan BetaBuilders Canada ETF 5.4 19 36 6.6 -0.9
WTRE WisdomTree New Economy Real Estate Fund 5.4 58 -3 9.1 +1.6
SRVR Pacer Data & Infrastructure Real Estate ETF 5.4 55 0 3.8 -3.7
FIDI Fidelity International High Dividend ETF 5.3 18 37 8.9 +1.4
BKCI BNY Mellon Concentrated International ETF 5.2 80 -25 5.0 -2.6
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.9 9 46 9.1 +1.6
AIVI WisdomTree International AI Enhanced Value Fund 4.9 58 -3 7.4 -0.2
DXJ WisdomTree Japan Hedged Equity Fund 4.9 48 7 8.2 +0.6
PBD Invesco Global Clean Energy ETF 4.8 75 -20 0.5 -7.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 4.7 65 -10 11.6 +4.1
UIVM VictoryShares International Value Momentum ETF 4.6 35 20 8.9 +1.4
TEMP JPMorgan Climate Change Solutions ETF 4.6 49 6 5.7 -1.8
OSEA Harbor International Compounders ETF 4.5 55 0 4.6 -2.9
FEUZ First Trust Eurozone AlphaDEX ETF 4.5 80 -25 8.9 +1.3
AVES Avantis Emerging Markets Value ETF 4.4 36 19 11.6 +4.1
EWI iShares MSCI Italy ETF 4.3 50 5 10.0 +2.5
EWQ iShares MSCI France ETF 4.2 53 2 7.0 -0.5
JIG JPMorgan International Growth ETF 4.2 55 0 4.7 -2.8
IQRA IQ CBRE Real Assets ETF 4.2 65 -10 5.8 -1.7
DSTX Distillate International Fundamental Stability & Value ETF 4.0 55 0 8.2 +0.7
RNEM First Trust Emerging Markets Equity Select ETF 4.0 75 -20 7.0 -0.5
FRNW Fidelity Clean Energy ETF 4.0 39 16 3.8 -3.7
NXTG First Trust Indxx NextG ETF 3.9 70 -15 5.3 -2.2
FJP First Trust Japan AlphaDEX Fund 3.9 80 -25 9.2 +1.7
AVIV Avantis International Large Cap Value ETF 3.9 25 30 8.9 +1.4
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 3.9 58 -3 8.9 +1.3
LVHI Franklin International Low Volatility High Dividend Index ET 3.8 40 15 10.8 +3.3
TPIF Timothy Plan International ETF 3.8 62 -7 6.2 -1.3
CGIE Capital Group International Equity ETF 3.7 54 1 5.0 -2.6
DFEV Dimensional Emerging Markets Value ETF 3.6 43 12 13.3 +5.8
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.6 58 -3 7.0 -0.5
IQDG WisdomTree International Quality Dividend Growth Fund 3.6 42 13 7.0 -0.5
HEDJ WisdomTree Europe Hedged Equity Fund 3.6 58 -3 6.7 -0.9
IDAT iShares Future Cloud 5G and Tech ETF 3.5 47 8 4.7 -2.8
BINV Brandes International ETF 3.5 70 -15 9.6 +2.1
INTF iShares International Equity Factor ETF 3.4 15 40 7.8 +0.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 3.4 24 31 7.5 0.0
JHMD John Hancock Multifactor Developed International ETF 3.4 39 16 7.6 +0.1
FIVA Fidelity International Value Factor ETF 3.4 18 37 10.1 +2.6
FLKR Franklin FTSE South Korea ETF 3.3 9 46 9.5 +2.0
FGM First Trust Germany AlphaDEX Fund 3.3 80 -25 6.0 -1.5
DFIV Dimensional International Value ETF 3.3 27 28 10.0 +2.5
ARKX ARK Space Exploration & Innovation ETF 3.2 75 -20 -0.2 -7.8
FBOT Fidelity Disruptive Automation ETF 3.2 50 5 3.7 -3.9
VCLN Virtus Duff & Phelps Clean Energy ETF 3.2 59 -4 5.4 -2.1
FEP First Trust Europe AlphaDEX Fund 3.1 80 -25 9.1 +1.6
SCHY Schwab International Dividend Equity ETF 3.1 14 41 9.6 +2.1
IVLU iShares MSCI Intl Value Factor ETF 3.1 30 25 10.6 +3.1
VIDI Vident International Equity Strategy ETF 3.1 61 -6 11.3 +3.8
EZU iShares MSCI Eurozone ETF 3.0 52 3 6.6 -1.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 3.0 29 26 7.9 +0.4
IEUS iShares MSCI Europe Small-Cap ETF 3.0 42 13 7.1 -0.4
IBAT iShares Energy Storage & Materials ETF 3.0 47 8 5.2 -2.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.0 45 10 7.0 -0.5
BBJP JPMorgan BetaBuilders Japan ETF 3.0 19 36 7.3 -0.3
TMFG Motley Fool Global Opportunities ETF 3.0 85 -30 3.9 -3.6
JPXN iShares JPX-Nikkei 400 ETF 2.9 48 7 7.2 -0.3
FAN First Trust Global Wind Energy ETF 2.9 60 -5 4.5 -3.0
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.9 45 10 10.8 +3.2
AVDE Avantis International Equity ETF 2.9 23 32 7.6 +0.0
DMXF iShares ESG Advanced MSCI EAFE ETF 2.9 12 43 5.5 -2.0
FNDF Schwab Fundamental International Large Co. Index ETF 2.9 25 30 9.5 +2.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 2.9 25 30 7.2 -0.3
PPIE Putnam PanAgora ESG International Equity ETF 2.9 49 6 7.4 -0.1
EXI iShares Global Industrials ETF 2.9 42 13 4.5 -3.0
KNO AXS Knowledge Leaders ETF 2.9 78 -23 6.0 -1.5
NETZ TCW Transform Systems ETF 2.8 75 -20 2.6 -5.0
FLJP Franklin FTSE Japan ETF 2.8 9 46 6.8 -0.7
GCOW Pacer Global Cash Cows Dividend ETF 2.8 60 -5 11.0 +3.4
EWJV iShares MSCI Japan Value ETF 2.8 15 40 9.6 +2.0
EWJ iShares MSCI Japan ETF 2.8 50 5 6.8 -0.8
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.8 47 8 7.0 -0.6
JPIN J.P. Morgan Diversified Return International Equity ETF 2.8 37 18 8.6 +1.0
DGT SPDR Global Dow ETF 2.8 50 5 7.2 -0.3
FENI Fidelity Enhanced International ETF 2.8 28 27 6.7 -0.9
FLJH Franklin FTSE Japan Hedged ETF 2.8 9 46 6.7 -0.8
CIL VictoryShares International Volatility Wtd ETF 2.7 45 10 6.6 -0.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.7 50 5 11.4 +3.9
XC WisdomTree Emerging Markets Ex-China Fund 2.7 32 23 6.1 -1.5
DOL WisdomTree International LargeCap Dividend Fund 2.7 48 7 7.4 -0.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.6 80 -25 9.9 +2.4
STXI Strive International Developed Markets ETF 2.6 29 26 6.9 -0.6
RGEF Rockefeller Global Equity ETF 2.6 55 0 4.9 -2.6
AVDV Avantis International Small Cap Value ETF 2.6 36 19 10.0 +2.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.6 40 15 7.6 +0.0
OEUR ALPS O'Shares Europe Quality Dividend ETF 2.5 48 7 5.8 -1.7
DWM WisdomTree International Equity Fund 2.5 48 7 7.4 -0.1
GLIN VanEck India Growth Leaders ETF 2.5 77 -22 6.4 -1.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.5 45 10 8.9 +1.4
DFIC Dimensional International Core Equity 2 ETF 2.5 23 32 7.5 +0.0
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.5 35 20 6.7 -0.8
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.5 33 22 8.7 +1.2
QINT American Century Quality Diversified International ETF 2.5 39 16 7.4 -0.2
WWJD Inspire International ETF 2.5 80 -25 7.2 -0.3
DIVI Franklin International Core Dividend Tilt Index ETF 2.4 9 46 8.1 +0.6
AVEM Avantis Emerging Markets Equity ETF 2.4 33 22 9.2 +1.7
JHEM John Hancock Multifactor Emerging Markets ETF 2.4 49 6 10.5 +3.0
FDCF Fidelity Disruptive Communications ETF 2.4 50 5 3.0 -4.6
BKIE BNY Mellon International Equity ETF 2.4 4 51 7.1 -0.5
DISV Dimensional International Small Cap Value ETF 2.4 42 13 9.4 +1.9
DTH WisdomTree International High Dividend Fund 2.4 58 -3 8.8 +1.3
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.4 30 25 8.1 +0.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.4 25 30 7.5 -0.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.4 39 16 8.1 +0.6
DFAI Dimensional International Core Equity Market ETF 2.3 18 37 7.2 -0.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.3 49 6 6.9 -0.6
DXIV Dimensional International Vector Equity ETF 2.3 34 21 7.9 +0.4
EWC iShares MSCI Canada ETF 2.3 50 5 6.4 -1.1
IDLV Invesco S&P International Developed Low Volatility ETF 2.3 25 30 6.5 -1.0
EFG iShares MSCI EAFE Growth ETF 2.3 36 19 4.3 -3.2
UMMA Wahed Dow Jones Islamic World ETF 2.3 65 -10 5.1 -2.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.3 25 30 7.1 -0.4
EWY iShares MSCI South Korea ETF 2.3 58 -3 8.9 +1.4
IMOM Alpha Architect International Quantitative Momentum ETF 2.3 49 6 3.2 -4.3
DIM WisdomTree International MidCap Dividend Fund 2.3 58 -3 7.5 +0.0
DEXC Dimensional Emerging Markets ex China Core EquityETF 2.2 53 2 7.7 +0.2
STXE Strive Emerging Markets Ex-China ETF 2.2 32 23 7.8 +0.3
VGK Vanguard FTSE Europe ETF 2.2 6 49 7.3 -0.2
BKF iShares MSCI BIC ETF 2.2 69 -14 13.4 +5.8
IEUR iShares Core MSCI Europe ETF 2.2 11 44 7.3 -0.3
SPEU SPDR Portfolio Europe ETF 2.2 7 48 7.3 -0.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.2 18 37 7.8 +0.3
XCNY SPDR S&P Emerging Markets ex-China ETF 2.2 15 40 7.7 +0.2
HFXI IQ FTSE International Equity Currency Neutral ETF 2.2 20 35 7.2 -0.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.2 24 31 8.2 +0.7
EWD iShares MSCI Sweden ETF 2.1 54 1 5.5 -2.0
IEV iShares Europe ETF 2.1 67 -12 6.8 -0.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.1 32 23 9.3 +1.8
SCHF Schwab International Equity ETF 2.1 6 49 7.4 -0.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.1 39 16 16.3 +8.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.1 41 14 7.7 +0.2
VEA Vanguard FTSE Developed Markets ETF 2.1 3 52 7.3 -0.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 2.1 20 35 6.4 -1.1
SCZ iShares MSCI EAFE Small-Cap ETF 2.1 40 15 7.0 -0.6
SPDW SPDR Portfolio Developed World ex-US ETF 2.1 3 52 7.2 -0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.1 46 9 6.9 -0.6
SCHC Schwab International Small-Cap Equity ETF 2.1 11 44 6.7 -0.8
EMXC iShares MSCI Emerging Markets ex China ETF 2.1 25 30 7.7 +0.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.1 58 -3 9.8 +2.2
IDEV iShares Core MSCI International Developed Markets ETF 2.1 4 51 7.1 -0.4
DFIS Dimensional International Small Cap ETF 2.1 39 16 7.3 -0.2
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.1 12 43 6.1 -1.4
JIRE JPMorgan International Research Enhanced Equity ETF 2.1 24 31 7.1 -0.4
SMIN iShares MSCI India Small Cap ETF 2.0 79 -24 3.6 -3.9
FLEE Franklin FTSE Europe ETF 2.0 9 46 7.3 -0.3
DFAE Dimensional Emerging Core Equity Market ETF 2.0 35 20 9.5 +2.0
BBEU JPMorgan BetaBuilders Europe ETF 2.0 9 46 7.1 -0.4
FLAX Franklin FTSE Asia Ex Japan ETF 2.0 19 36 9.5 +2.0
IEFA iShares Core MSCI EAFE ETF 2.0 7 48 7.1 -0.4
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 16.1 +8.6
VEU Vanguard FTSE All-World ex-US Index Fund 2.0 4 51 8.2 +0.7
VXUS Vanguard Total International Stock ETF 2.0 5 50 8.0 +0.5
GSID Goldman Sachs MarketBeta International Equity ETF 2.0 20 35 7.0 -0.6
EFA iShares MSCI EAFE ETF 2.0 35 20 6.8 -0.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.0 36 19 6.9 -0.7
IXUS iShares Core MSCI Total International Stock ETF 2.0 7 48 8.0 +0.5
IMTM iShares MSCI Intl Momentum Factor ETF 2.0 30 25 5.4 -2.2
RFEU First Trust Riverfront Dynamic Europe ETF 1.9 83 -28 10.3 +2.8
EEMA iShares MSCI Emerging Markets Asia ETF 1.9 49 6 10.2 +2.7
FEZ SPDR EURO STOXX 50 ETF 1.9 29 26 7.0 -0.5
FLSW Franklin FTSE Switzerland ETF 1.9 9 46 6.3 -1.3
FPAG FPA Global Equity ETF 1.9 49 6 5.8 -1.8
FSZ First Trust Switzerland AlphaDEX Fund 1.9 80 -25 5.1 -2.5
EWL iShares MSCI Switzerland ETF 1.9 50 5 6.0 -1.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.9 38 17 9.5 +2.0
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.9 35 20 19.4 +11.9
COPY Tweedy, Browne Insider + Value ETF 1.9 80 -25 11.7 +4.2
PATN Pacer Nasdaq International Patent Leaders ETF 1.9 65 -10 6.3 -1.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.9 32 23 6.9 -0.7
ACWX iShares MSCI ACWI ex U.S. ETF 1.9 34 21 7.8 +0.3
FCA First Trust China AlphaDEX Fund 1.9 80 -25 9.0 +1.4
DFSI Dimensional International Sustainability Core 1 ETF 1.8 24 31 6.4 -1.1
VPL Vanguard FTSE Pacific ETF 1.8 7 48 7.2 -0.3
ECON Columbia Emerging Markets Consumer ETF 1.8 49 6 12.5 +5.0
VWID Virtus WMC International Dividend ETF 1.8 49 6 8.8 +1.3
FEM First Trust Emerging Markets AlphaDEX Fund 1.8 80 -25 12.3 +4.7
ROAM Hartford Multifactor Emerging Markets ETF 1.8 44 11 12.0 +4.5
BKEM BNY Mellon Emerging Markets Equity ETF 1.8 11 44 10.2 +2.7
CWI SPDR MSCI ACWI ex-US ETF 1.8 30 25 7.8 +0.2
DWMF WisdomTree International Multifactor Fund 1.8 38 17 7.0 -0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.8 39 16 6.7 -0.8
AVDS Avantis International Small Cap Equity ETF 1.8 30 25 7.5 -0.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.7 14 41 6.3 -1.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.7 15 40 10.4 +2.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.7 70 -15 9.4 +1.8
FDEM Fidelity Emerging Markets Multifactor ETF 1.7 25 30 12.9 +5.4
IPAC iShares Core MSCI Pacific ETF 1.7 9 46 6.8 -0.7
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.7 32 23 5.9 -1.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.7 15 40 8.2 +0.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.7 36 19 9.9 +2.4
AVSD Avantis Responsible International Equity ETF 1.7 23 32 5.6 -1.9
RODE Hartford Multifactor Diversified International ETF 1.7 29 26 12.7 +5.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.7 8 47 6.8 -0.7
DLS WisdomTree International SmallCap Dividend Fund 1.7 58 -3 8.3 +0.8
VYMI Vanguard International High Dividend Yield ETF 1.7 17 38 9.8 +2.3
DIHP Dimensional International High Profitability ETF 1.7 29 26 7.2 -0.3
FNDC Schwab Fundamental International Small Co. Index ETF 1.7 39 16 5.8 -1.7
EFV iShares MSCI EAFE Value ETF 1.6 34 21 9.3 +1.8
OBOR KraneShares MSCI One Belt One Road Index ETF 1.6 79 -24 8.7 +1.2
DWX SPDR S&P International Dividend ETF 1.6 45 10 6.2 -1.3
IQLT iShares MSCI Intl Quality Factor ETF 1.6 30 25 6.2 -1.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.6 66 -11 10.0 +2.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.6 45 10 10.6 +3.0
EWG iShares MSCI Germany ETF 1.6 50 5 5.9 -1.7
IEMG iShares Core MSCI Emerging Markets ETF 1.6 9 46 10.6 +3.0
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.6 80 -25 11.1 +3.6
SCJ iShares MSCI Japan Small-Cap ETF 1.6 50 5 6.8 -0.7
VWO Vanguard FTSE Emerging Markets ETF 1.6 7 48 10.6 +3.1
EEM iShares MSCI Emerging Markets ETF 1.5 69 -14 10.4 +2.8
DAX Global X DAX Germany ETF 1.5 21 34 6.2 -1.3
PID Invesco International Dividend Achievers ETF 1.5 53 2 5.6 -2.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.5 70 -15 7.8 +0.2
SCHE Schwab Emerging Markets Equity ETF 1.5 11 44 11.2 +3.7
DEHP Dimensional Emerging Markets High Profitability ETF 1.5 41 14 6.9 -0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.5 59 -4 11.8 +4.3
GMF SPDR S&P Emerging Asia Pacific ETF 1.5 49 6 9.6 +2.0
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.5 75 -20 9.9 +2.4
BLES Inspire Global Hope ETF 1.5 61 -6 6.8 -0.8
DTCR Global X Data Center & Digital Infrastructure ETF 1.5 50 5 4.4 -3.1
GNR SPDR S&P Global Natural Resources ETF 1.4 40 15 11.4 +3.9
IDMO Invesco S&P International Developed Momentum ETF 1.4 25 30 5.3 -2.2
CCNR ALPS CoreCommodity Natural Resources ETF 1.4 39 16 11.5 +3.9
VIGI Vanguard International Dividend Appreciation ETF 1.4 10 45 6.2 -1.3
DFE WisdomTree Europe SmallCap Dividend Fund 1.4 58 -3 8.0 +0.4
IGRO iShares International Dividend Growth ETF 1.4 15 40 7.2 -0.3
DGIN VanEck Digital India ETF 1.3 71 -16 2.0 -5.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.3 30 25 10.4 +2.9
SMOG VanEck Low Carbon Energy ETF 1.3 61 -6 1.6 -6.0
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.3 80 -25 4.8 -2.7
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.3 75 -20 3.0 -4.5
EYLD Cambria Emerging Shareholder Yield ETF 1.3 66 -11 12.4 +4.8
FLGR Franklin FTSE Germany ETF 1.3 9 46 6.6 -1.0
ISCF iShares International SmallCap Equity Factor ETF 1.3 23 32 8.3 +0.7
ESGD iShares ESG Aware MSCI EAFE ETF 1.2 20 35 6.9 -0.6
DVYE iShares Emerging Markets Dividend ETF 1.2 49 6 18.9 +11.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.2 44 11 11.0 +3.5
EMGF iShares Emerging Markets Equity Factor ETF 1.2 25 30 12.0 +4.4
NUDM Nuveen ESG International Developed Markets Equity ETF 1.2 31 24 6.3 -1.2
XT iShares Exponential Technologies ETF 1.2 46 9 4.8 -2.8
DEM WisdomTree Emerging Markets High Dividend Fund 1.2 63 -8 13.3 +5.7
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.2 50 5 5.8 -1.7
IQSI IQ Candriam International Equity ETF 1.2 15 40 6.7 -0.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.2 30 25 7.0 -0.5
FDD First Trust Stoxx European Select Dividend Index Fund 1.2 58 -3 11.6 +4.1
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 10.7 +3.1
IMFL Invesco International Developed Dynamic Multifactor ETF 1.1 34 21 5.9 -1.6
EWT iShares MSCI Taiwan ETF 1.1 58 -3 6.5 -1.1
CGV Conductor Global Equity Value ETF 1.1 130 -75 8.7 +1.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.1 58 -3 6.7 -0.8
FLTW Franklin FTSE Taiwan ETF 1.1 19 36 6.7 -0.8
ESGG FlexShares STOXX Global ESG Select Index Fund 1.1 42 13 5.4 -2.1
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.1 65 -10 3.6 -3.9
EWM iShares MSCI Malaysia ETF 1.1 50 5 7.1 -0.4
EMMF WisdomTree Emerging Markets Multifactor Fund 1.1 48 7 7.8 +0.3
RFDI First Trust Riverfront Dynamic Developed International ETF 1.0 83 -28 9.7 +2.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.0 41 14 8.9 +1.4
HAP VanEck Natural Resources ETF 1.0 50 5 9.6 +2.1
EDEN iShares MSCI Denmark ETF 1.0 53 2 6.6 -0.9
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.0 20 35 6.6 -0.9
DFJ WisdomTree Japan SmallCap Dividend Fund 1.0 58 -3 8.0 +0.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.0 29 26 8.8 +1.3
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 1.0 58 -3 8.1 +0.6
XCEM Columbia EM Core ex-China ETF 1.0 16 39 8.2 +0.6
CGXU Capital Group International Focus Equity ETF 0.9 54 1 5.7 -1.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -33 9.4 +1.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.9 30 25 10.0 +2.4
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 0.9 75 -20 7.7 +0.2
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 8 9.3 +1.7
WLDR Affinity World Leaders Equity ETF 0.9 67 -12 7.7 +0.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.9 42 13 9.9 +2.4
CGDG Capital Group Dividend Growers ETF 0.8 47 8 6.2 -1.3
FDEV Fidelity International Multifactor ETF 0.8 18 37 7.4 -0.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.8 33 22 10.2 +2.6
EWUS iShares MSCI United Kingdom Small Cap ETF 0.8 59 -4 7.4 -0.2
FYLD Cambria Foreign Shareholder Yield ETF 0.8 59 -4 11.8 +4.3
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.8 80 -25 14.5 +7.0
SLX VanEck Steel ETF 0.8 56 -1 15.2 +7.7
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.8 70 -15 14.6 +7.1
VSGX Vanguard ESG International Stock ETF 0.7 10 45 7.9 +0.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 46 5.9 -1.7
VT Vanguard Total World Stock ETF 0.7 6 49 6.0 -1.5
EEMO Invesco S&P Emerging Markets Momentum ETF 0.7 29 26 6.6 -1.0
FLCH Franklin FTSE China ETF 0.7 19 36 16.8 +9.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 43 5.2 -2.3
INEQ Columbia International Equity Income ETF 0.7 45 10 8.3 +0.7
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -5 3.5 -4.0
GLOF iShares Global Equity Factor ETF 0.7 20 35 6.7 -0.8
CZAR Themes Natural Monopoly ETF 0.7 35 20 5.4 -2.1
ACWI iShares MSCI ACWI ETF 0.7 32 23 5.7 -1.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 8 8.5 +1.0
DEW WisdomTree Global High Dividend Fund 0.7 58 -3 8.6 +1.1
EWN iShares MSCI Netherlands ETF 0.6 50 5 5.4 -2.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.6 20 35 5.9 -1.6
EWO iShares MSCI Austria ETF 0.6 50 5 11.0 +3.5
GVAL Cambria Global Value ETF 0.6 68 -13 11.1 +3.5
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.9 -1.6
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 6.6 -0.9
CGW Invesco S&P Global Water Index ETF 0.6 57 -2 4.6 -2.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.6 80 -25 5.5 -2.0
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.6 45 10 4.5 -3.0
WRND IQ Global Equity R&D Leaders ETF 0.6 18 37 8.4 +0.8
ISRA VanEck Israel ETF 0.6 59 -4 6.8 -0.7
EIS iShares MSCI Israel ETF 0.6 58 -3 7.4 -0.2
URTH iShares MSCI World ETF 0.6 24 31 5.2 -2.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.6 80 -25 9.6 +2.1
KOKU Xtrackers MSCI Kokusai Equity ETF 0.6 9 46 5.3 -2.3
EFRA iShares Environmental Infrastructure and Industrials ETF 0.5 47 8 5.2 -2.3
LDEM iShares ESG MSCI EM Leaders ETF 0.5 17 38 13.2 +5.7
ILF iShares Latin America 40 ETF 0.5 48 7 13.2 +5.7
AVSE Avantis Responsible Emerging Markets Equity ETF 0.5 33 22 8.7 +1.1
IXP iShares Global Comm Services ETF 0.5 42 13 5.7 -1.9
GLBL Pacer MSCI World Industry Advantage ETF 0.5 65 -10 4.2 -3.3
OCEN IQ Clean Oceans ETF 0.5 45 10 6.3 -1.3
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 36 19 7.8 +0.3
QWLD SPDR MSCI World StrategicFactors ETF 0.5 30 25 6.1 -1.5
KALL KraneShares MSCI All China Index ETF 0.5 49 6 14.8 +7.2
VOLT Tema Electrification ETF 0.5 75 -20 2.8 -4.7
CLNR IQ Cleaner Transport ETF 0.5 45 10 6.6 -1.0
EPOL iShares MSCI Poland ETF 0.5 59 -4 10.7 +3.2
TOK iShares MSCI Kokusai ETF 0.4 26 29 5.1 -2.4
GXC SPDR S&P China ETF 0.4 59 -4 16.4 +8.9
CTEC Global X CleanTech ETF 0.4 50 5 2.5 -5.0
SNSR Global X Internet of Things ETF 0.4 68 -13 4.4 -3.1
ESGE iShares ESG Aware MSCI EM ETF 0.4 25 30 10.2 +2.6
FID First Trust S&P International Dividend Aristocrats ETF 0.4 60 -5 8.1 +0.6
WDIV SPDR S&P Global Dividend ETF 0.4 40 15 9.5 +2.0
GWX SPDR S&P International Small Cap ETF 0.4 40 15 6.2 -1.3
DTAN Sparkline International Intangible Value ETF 0.4 55 0 8.1 +0.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.4 40 15 7.1 -0.4
GREK Global X MSCI Greece ETF 0.3 57 -2 10.0 +2.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.3 65 -10 8.2 +0.6
MCHI iShares MSCI China ETF 0.3 59 -4 17.9 +10.4
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 4.9 -2.6
EMXF iShares ESG Advanced MSCI EM ETF 0.3 16 39 8.5 +1.0
IPKW Invesco International BuyBack Achievers ETF 0.3 55 0 13.5 +5.9
JGLO JPMorgan Global Select Equity ETF 0.3 33 22 4.9 -2.6
NLR VanEck Uranium+Nuclear Energy ETF 0.3 61 -6 2.2 -5.3
URA Global X Uranium ETF 0.3 69 -14 2.0 -5.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 35 5.8 -1.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.3 25 30 6.5 -1.1
KOMP SPDR S&P Kensho New Economies Composite ETF 0.3 20 35 2.7 -4.8
RAYD Rayliant Quantitative Developed Market Equity ETF 0.3 80 -25 4.4 -3.1
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 6 12.0 +4.4
SMCF Themes US Small Cap Cash Flow Champions ETF 0.3 29 26 12.6 +5.0
FLAU Franklin FTSE Australia ETF 0.3 9 46 6.3 -1.3
ECNS iShares MSCI China Small-Cap ETF 0.2 59 -4 9.5 +2.0
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.2 25 30 5.9 -1.6
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 5.1 -2.4
FRDM Freedom 100 Emerging Markets ETF 0.2 49 6 8.8 +1.3
FLBR Franklin FTSE Brazil ETF 0.2 19 36 15.4 +7.8
SDIV Global X Superdividend ETF 0.2 58 -3 40.3 +32.8
EWZS iShares MSCI Brazil Small-Cap ETF 0.2 59 -4 10.7 +3.2
FLLA Franklin FTSE Latin America ETF 0.2 19 36 13.7 +6.2
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.7 -1.8
APIE ActivePassive International Equity ETF 0.1 45 10 7.5 -0.1
ACVF American Conservative Values ETF 0.1 75 -20 4.3 -3.2
TRFK Pacer Data and Digital Revolution ETF 0.1 60 -5 3.1 -4.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.8 -3.7
TUR iShares MSCI Turkey ETF 0.1 58 -3 20.8 +13.3
PRNT 3D Printing ETF 0.1 66 -11 1.2 -6.3
IUS Invesco RAFI Strategic US ETF 0.1 19 36 6.7 -0.8
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -34 4.8 -2.8

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 9.9 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 CATEGORY
AVERAGE		 1.57
 
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.