Renaissance International IPO ETF
ALTAR
Score™		 -0.8% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 32.1x P/Sales
ratio		 1.1x
P/BV
ratio		 4.3x Div.
yield		 4.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Renaissance International IPO ETF tracks a cap-weighted index of recent IPOs listed internationally. The fund adds an IPO within 90 days of its initial listing.

FUND BASICS
Category International Equities
Fund Sponsor Renaissance Capital
Website www.renaissancecapital.com
Inception date Oct 06, 2014
Assets (mns) $4
Currency USD
Expense ratio 80 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 45
Wgt avg mkt cap (mns) $1,705
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 70.6%
Small cap (<$2bn) 10.5%
Developed mkts 79.5%
Emerging mkts 20.5%

TOP TEN HOLDINGS
PT AMMAN MINERAL INTERNASIONAL TBK 9.9 %
BARITO RENEWABLES ENERGY 9.2 %
WISE PLC CLASS A 7.9 %
PORSCHE AG 7.5 %
J&T GLOBAL EXPRESS 6.3 %
PT GOTO GOJEK TOKOPEDIA TBK 4.0 %
SOCIONEXT INC. 4.0 %
GALDERMA 3.8 %
SENSETIME 3.6 %
VAR ENERGI ASA 3.3 %
Total 59.4 %

TOP COUNTRY EXPOSURE
INDONESIA 13.9 %
BRITAIN 7.9 %
NORWAY 4.7 %
JAPAN 4.0 %
CANADA 3.2 %
CHINA 2.3 %
HONG KONG 2.1 %
SWEDEN 1.9 %
SPAIN 1.3 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.6% -3.5% -11.4% -- -3.2%

Market Correlations
versus... Beta R-squared
S&P500 0.70 20%
MSCI EAFE 1.06 48%
MSCI Emg. Mkts. 1.35 75%

Technical Indicators
Recent close $12.22
30d moving avg. $12.77
Annualized volatility 27.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.52%
ADV underlying (mns) $332

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 201 potential alternatives to the Renaissance International IPO ETF ETF based on the alternatives' overlap in portfolio holdings with IPOS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IPOS Expense: 80 bp ALTAR Score™: -0.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IPOS
Ticker Fund
Name		 Overlap1
vs IPOS
(%)		 Expense
ratio
(bp)		 Savings
vs IPOS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IPOS
(%)
IDX VanEck Indonesia Index ETF 9.1 57 23 8.8 +9.6
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 5.3 72 8 1.0 +1.8
FPXI First Trust International Equity Opportunities ETF 4.0 70 10 4.9 +5.7
GMET VanEck Green Metals ETF 4.0 63 17 10.7 +11.5
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 3.3 75 5 4.7 +5.5
LOUP Innovator Deepwater Frontier Tech ETF 3.0 70 10 1.3 +2.1
BOTT Themes Robotics & Automation ETF 2.9 35 45 4.7 +5.6
FINX Global X FinTech ETF 2.6 68 12 2.6 +3.5
EIDO iShares MSCI Indonesia ETF 2.4 59 21 7.5 +8.3
EMFQ Amplify Emerging Markets FinTech ETF 2.4 69 11 5.3 +6.1
KGRN KraneShares MSCI China Clean Technology Index ETF 2.3 79 1 5.6 +6.5
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.9 86 -6 1.2 +2.1
OBOR KraneShares MSCI One Belt One Road Index ETF 1.8 79 1 10.3 +11.1
BFIIX Baron FinTech 1.8 75 5 3.4 +4.2
TMFG Motley Fool Global Opportunities ETF 1.7 85 -5 3.2 +4.1
FDFF Fidelity Disruptive Finance ETF 1.7 50 30 4.1 +5.0
IVAL Alpha Architect International Quantitative Value ETF 1.7 49 31 9.5 +10.4
SETM Sprott Energy Transition Materials ETF 1.7 65 15 6.0 +6.8
ASEA Global X FTSE Southeast Asia ETF 1.5 65 15 6.3 +7.2
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.4 70 10 3.5 +4.4
BOTZ Global X Robotics & Artificial Intelligence ETF 1.4 69 11 2.4 +3.2
FDRV Fidelity Electric Vehicles and Future Transportation ETF 1.3 39 41 -1.7 -0.9
FRNW Fidelity Clean Energy ETF 1.3 39 41 2.6 +3.4
WNDY Global X Wind Energy ETF 1.3 50 30 6.1 +6.9
CHIQ Global X MSCI China Consumer Discretionary ETF 1.2 65 15 5.9 +6.7
ROBO ROBO Global Robotics & Automation Index ETF 1.2 95 -15 3.5 +4.3
DTEC ALPS Disruptive Technologies ETF 1.1 50 30 3.7 +4.5
DSTX Distillate International Fundamental Stability & Value ETF 1.1 55 25 8.0 +8.8
PBD Invesco Global Clean Energy ETF 0.9 75 5 -5.3 -4.4
CCNR ALPS CoreCommodity Natural Resources ETF 0.9 39 41 11.0 +11.9
SDIV Global X Superdividend ETF 0.9 58 22 14.9 +15.7
LUX Tema Luxury ETF 0.8 75 5 3.0 +3.9
BNE Blue Horizon BNE ETF 0.8 87 -7 4.6 +5.4
XT iShares Exponential Technologies ETF 0.8 46 34 4.8 +5.6
LUXX Roundhill S&P Global Luxury ETF 0.8 45 35 2.9 +3.7
QTUM Defiance Quantum ETF 0.8 40 40 3.6 +4.4
DIM WisdomTree International MidCap Dividend Fund 0.8 58 22 7.7 +8.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 33 9.4 +10.2
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 33 12.9 +13.7
IQDE FlexShares International Quality Dividend Defensive Index ET 0.7 47 33 14.8 +15.6
VIDI Vident International Equity Strategy ETF 0.7 61 19 10.2 +11.0
BATT Amplify Lithium & Battery Technology ETF 0.7 59 21 -0.1 +0.7
IBOT Vaneck Robotics ETF 0.7 47 33 4.1 +5.0
EEMO Invesco S&P Emerging Markets Momentum ETF 0.7 29 51 5.5 +6.4
CZAR Themes Natural Monopoly ETF 0.6 35 45 6.3 +7.1
SMOG VanEck Low Carbon Energy ETF 0.6 61 19 2.4 +3.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.6 80 0 9.1 +9.9
INTF iShares International Equity Factor ETF 0.5 15 65 8.2 +9.0
FLHK Franklin FTSE Hong Kong ETF 0.5 9 71 6.8 +7.7
EWG iShares MSCI Germany ETF 0.5 50 30 6.4 +7.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.5 25 55 7.2 +8.0
CARZ First Trust NASDAQ Global Auto Index Fund 0.5 70 10 3.8 +4.7
DAX Global X DAX Germany ETF 0.5 21 59 6.9 +7.8
ERTH Invesco MSCI Sustainable Future ETF 0.5 62 18 3.6 +4.5
GLOF iShares Global Equity Factor ETF 0.5 20 60 7.0 +7.8
FBOT Fidelity Disruptive Automation ETF 0.4 50 30 3.6 +4.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.4 86 -6 1.6 +2.5
HAP VanEck Natural Resources ETF 0.4 50 30 10.0 +10.8
ICLN iShares Global Clean Energy ETF 0.4 41 39 6.0 +6.8
BLLD JPMorgan Sustainable Infrastructure ETF 0.4 49 31 5.7 +6.5
FDNI First Trust Dow Jones International Internet ETF 0.4 65 15 2.1 +3.0
TTAI FCF International Quality ETF 0.3 59 21 5.6 +6.4
EUFN iShares MSCI Europe Financials ETF 0.3 51 29 8.1 +9.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.3 25 55 7.2 +8.1
AVIV Avantis International Large Cap Value ETF 0.3 25 55 9.0 +9.8
ECON Columbia Emerging Markets Consumer ETF 0.3 49 31 7.3 +8.2
FENI Fidelity Enhanced International ETF 0.3 28 52 8.1 +8.9
EWD iShares MSCI Sweden ETF 0.3 54 26 6.6 +7.5
SCJ iShares MSCI Japan Small-Cap ETF 0.3 50 30 7.0 +7.8
EWU iShares MSCI United Kingdom ETF 0.3 50 30 8.4 +9.3
IQLT iShares MSCI Intl Quality Factor ETF 0.3 30 50 6.2 +7.1
DTH WisdomTree International High Dividend Fund 0.3 58 22 10.1 +11.0
XC WisdomTree Emerging Markets Ex-China Fund 0.3 32 48 6.0 +6.8
XCEM Columbia EM Core ex-China ETF 0.3 16 64 7.7 +8.5
FLGB Franklin FTSE United Kingdom ETF 0.3 9 71 7.9 +8.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.2 32 48 6.2 +7.1
CLNR IQ Cleaner Transport ETF 0.2 45 35 6.8 +7.7
OCEN IQ Clean Oceans ETF 0.2 45 35 6.1 +6.9
IDHQ Invesco S&P International Developed High Quality ETF 0.2 29 51 6.5 +7.3
SHPP Pacer Industrials and Logistics ETF 0.2 60 20 9.9 +10.7
FLAX Franklin FTSE Asia Ex Japan ETF 0.2 19 61 6.9 +7.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.2 49 31 7.0 +7.8
NUEM Nuveen ESG Emerging Markets Equity ETF 0.2 36 44 6.5 +7.3
AIQ Global X Artificial Intelligence & Technology ETF 0.2 68 12 4.0 +4.8
FEUZ First Trust Eurozone AlphaDEX ETF 0.2 80 0 6.7 +7.5
AVSD Avantis Responsible International Equity ETF 0.2 23 57 7.1 +7.9
EFG iShares MSCI EAFE Growth ETF 0.2 36 44 4.5 +5.4
BBEU JPMorgan BetaBuilders Europe ETF 0.2 9 71 7.1 +7.9
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 35 3.6 +4.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 0.2 32 48 6.1 +6.9
SPEU SPDR Portfolio Europe ETF 0.2 7 73 7.1 +7.9
JPIN J.P. Morgan Diversified Return International Equity ETF 0.2 37 43 8.9 +9.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.2 36 44 7.8 +8.7
TPIF Timothy Plan International ETF 0.2 62 18 6.8 +7.6
FRDM Freedom 100 Emerging Markets ETF 0.2 49 31 7.3 +8.1
DFIS Dimensional International Small Cap ETF 0.2 39 41 6.9 +7.7
BKEM BNY Mellon Emerging Markets Equity ETF 0.2 11 69 8.4 +9.2
STXE Strive Emerging Markets Ex-China ETF 0.2 32 48 7.0 +7.8
BULD Pacer BlueStar Engineering the Future ETF 0.2 60 20 1.7 +2.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.2 46 34 6.5 +7.3
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.2 20 60 6.8 +7.6
FEP First Trust Europe AlphaDEX Fund 0.1 80 0 7.8 +8.6
EZU iShares MSCI Eurozone ETF 0.1 52 28 6.6 +7.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.1 45 35 6.5 +7.4
IQIN IQ 500 International ETF 0.1 25 55 9.2 +10.0
IEUR iShares Core MSCI Europe ETF 0.1 11 69 7.1 +7.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.1 40 40 7.9 +8.8
VGK Vanguard FTSE Europe ETF 0.1 11 69 7.1 +7.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.1 66 14 10.0 +10.8
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.1 24 56 8.7 +9.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.1 15 65 7.2 +8.1
DFSI Dimensional International Sustainability Core 1 ETF 0.1 24 56 6.5 +7.3
ESGE iShares ESG Aware MSCI EM ETF 0.1 25 55 7.1 +8.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.1 20 60 6.5 +7.4
QINT American Century Quality Diversified International ETF 0.1 39 41 7.7 +8.5
GINN Goldman Sachs Innovate Equity ETF 0.1 52 28 2.8 +3.6
DMXF iShares ESG Advanced MSCI EAFE ETF 0.1 12 68 5.5 +6.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 7 73 6.7 +7.5
IDEV iShares Core MSCI International Developed Markets ETF 0.1 4 76 7.1 +7.9
SCZ iShares MSCI EAFE Small-Cap ETF 0.1 40 40 6.6 +7.4
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 5 7.6 +8.4
EMXF iShares ESG Advanced MSCI EM ETF 0.1 16 64 6.8 +7.7
RXI iShares Global Consumer Discretionary ETF 0.1 41 39 5.4 +6.2
CIL VictoryShares International Volatility Wtd ETF 0.1 45 35 7.0 +7.8
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 0.1 51 29 7.1 +7.9
DWM WisdomTree International Equity Fund 0.1 48 32 8.0 +8.8
FLCH Franklin FTSE China ETF 0.1 19 61 8.8 +9.7
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 60 7.0 +7.8
FLEE Franklin FTSE Europe ETF 0.1 9 71 7.2 +8.0
IQSI IQ Candriam International Equity ETF 0.1 15 65 6.6 +7.5
IEFA iShares Core MSCI EAFE ETF 0.1 7 73 7.1 +8.0
EFA iShares MSCI EAFE ETF 0.1 35 45 6.9 +7.7
DISV Dimensional International Small Cap Value ETF 0.1 42 38 9.1 +10.0
VSGX Vanguard ESG International Stock ETF 0.1 12 68 6.8 +7.6
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.1 30 50 7.3 +8.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 44 6.6 +7.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.1 59 21 11.3 +12.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 39 7.4 +8.3
BKIE BNY Mellon International Equity ETF 0.1 4 76 7.1 +7.9
VEA Vanguard FTSE Developed Markets ETF 0.1 5 75 7.3 +8.2
DXJ WisdomTree Japan Hedged Equity Fund 0.1 48 32 8.5 +9.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.1 35 45 6.6 +7.5
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.1 12 68 5.9 +6.7
DFAI Dimensional International Core Equity Market ETF 0.1 18 62 7.3 +8.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 62 7.0 +7.9
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 60 7.1 +7.9
FLJH Franklin FTSE Japan Hedged ETF 0.1 9 71 7.7 +8.5
FLJP Franklin FTSE Japan ETF 0.1 9 71 7.8 +8.7
VXUS Vanguard Total International Stock ETF 0.1 7 73 7.2 +8.0
DFIC Dimensional International Core Equity 2 ETF 0.1 23 57 7.7 +8.6
DIHP Dimensional International High Profitability ETF 0.1 29 51 7.6 +8.5
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 73 7.2 +8.0
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 46 7.0 +7.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 72 7.3 +8.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 50 8.0 +8.8
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 41 7.2 +8.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.1 39 41 7.4 +8.3
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 77 7.2 +8.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 60 5.2 +6.0
EMXC iShares MSCI Emerging Markets ex China ETF 0.1 25 55 6.7 +7.5
XCNY SPDR S&P Emerging Markets ex-China ETF 0.1 15 65 6.3 +7.1
CRTC Xtrackers US National Critical Technologies ETF 0.1 35 45 5.1 +5.9
SCHF Schwab International Equity ETF 0.1 6 74 7.5 +8.3
IEV iShares Europe ETF 0.1 67 13 6.6 +7.5
EEMA iShares MSCI Emerging Markets Asia ETF 0.1 49 31 6.5 +7.4
PXH Invesco FTSE RAFI Emerging Markets ETF 0.1 49 31 12.2 +13.1
SCHE Schwab Emerging Markets Equity ETF 0.1 11 69 7.1 +8.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.1 70 10 6.2 +7.0
EMGF iShares Emerging Markets Equity Factor ETF 0.1 25 55 8.5 +9.3
GMF SPDR S&P Emerging Asia Pacific ETF 0.1 49 31 6.1 +7.0
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.1 20 60 6.9 +7.8
DIVI Franklin International Core Dividend Tilt Index ETF 0.1 9 71 8.1 +9.0
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -9 4.9 +5.8
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 50 6.9 +7.8
ISCF iShares International SmallCap Equity Factor ETF 0.0 23 57 9.1 +10.0
EEM iShares MSCI Emerging Markets ETF 0.0 69 11 6.9 +7.7
VWO Vanguard FTSE Emerging Markets ETF 0.0 8 72 6.9 +7.8
DFIV Dimensional International Value ETF 0.0 27 53 10.0 +10.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 35 8.9 +9.8
IGPT Invesco AI and Next Gen Software ETF 0.0 60 20 3.8 +4.6
AVEM Avantis Emerging Markets Equity ETF 0.0 33 47 8.9 +9.7
IPAC iShares Core MSCI Pacific ETF 0.0 9 71 7.2 +8.1
IEMG iShares Core MSCI Emerging Markets ETF 0.0 9 71 7.5 +8.3
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 73 7.3 +8.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.0 30 50 7.3 +8.1
VPL Vanguard FTSE Pacific ETF 0.0 8 72 7.7 +8.6
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 50 5.9 +6.8
AVDE Avantis International Equity ETF 0.0 23 57 8.1 +8.9
JHMD John Hancock Multifactor Developed International ETF 0.0 39 41 7.8 +8.6
VT Vanguard Total World Stock ETF 0.0 7 73 5.5 +6.4
ACWI iShares MSCI ACWI ETF 0.0 32 48 5.3 +6.1
IVLU iShares MSCI Intl Value Factor ETF 0.0 30 50 11.4 +12.3
TOK iShares MSCI Kokusai ETF 0.0 26 54 5.0 +5.9
VYMI Vanguard International High Dividend Yield ETF 0.0 22 58 9.8 +10.7
FLEU Franklin FTSE Eurozone ETF 0.0 9 71 7.3 +8.1
URTH iShares MSCI World ETF 0.0 24 56 5.2 +6.0
KOKU Xtrackers MSCI Kokusai Equity ETF 0.0 9 71 5.2 +6.0
EFV iShares MSCI EAFE Value ETF 0.0 34 46 9.4 +10.3
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 55 9.9 +10.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.0 30 50 8.1 +9.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 71 5.4 +6.2

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Renaissance International IPO ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity -0.2 %
Divided by: Fwd. P/BV 4.4 x
Less: Expense ratio 80 bp
Equals: ALTAR Score -0.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.60
 
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.