IQ Candriam ESG International Equity ETF
ALTAR
Score™		 7.5% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 20.6x P/Sales
ratio		 1.4x
P/BV
ratio		 1.4x Div.
yield		 2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
IQSI tracks a proprietary index of developed-market stocks selected by ESG criteria and weighted by market-cap.

FUND BASICS
Category International Equities
Fund Sponsor New York Life
Website www.nylinvestments.com
Inception date Dec 16, 2019
Assets (mns) $106
Currency USD
Expense ratio 15 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 566
Wgt avg mkt cap (mns) $71,136
Large cap (>$10bn) 88.5%
Mid cap ($2-10bn) 10.8%
Small cap (<$2bn) 0.1%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
NESTLE SA-REG 3.4 %
ROCHE HOLDING AG-GENUSSCHEIN 2.3 %
ASML HOLDING NV 1.6 %
SAP AG 1.5 %
TOYOTA MOTOR CORP 1.5 %
ASTRAZENECA PLC 1.3 %
AIA GROUP LTD 1.2 %
NOVO NORDISK A/S-B 1.2 %
SANOFI-AVENTIS 1.1 %
SIEMENS AG-REG 1.1 %
Total 16.1 %

TOP COUNTRY EXPOSURE
JAPAN 23.7 %
BRITAIN 12.1 %
SWITZERLAND 10.0 %
GERMANY 9.9 %
FRANCE 9.6 %
AUSTRALIA 6.9 %
NETHERLANDS 5.2 %
SWEDEN 4.1 %
HONG KONG 3.5 %
DENMARK 3.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.9% -- -- -- -0.9%

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

Technical Indicators
Recent close $23.87
30d moving avg. $24.24
Annualized volatility 0.0%
Short interest (ETF) 6.1%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.4%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $32,805

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the IQ Candriam ESG International Equity ETF ETF based on the alternatives' overlap in portfolio holdings with IQSI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IQSI Expense: 15 bp ALTAR Score™: 7.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IQSI
Ticker Fund
Name		 Overlap1
vs IQSI
(%)		 Expense
ratio
(bp)		 Savings
vs IQSI
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IQSI
(%)
GSID Goldman Sachs MarketBeta International Equity ETF 71.1 20 -5 7.4 -0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 70.2 20 -5 7.2 -0.4
EFA iShares MSCI EAFE ETF 68.7 32 -17 7.1 -0.4
ESGD iShares MSCI EAFE ESG Optimized ETF 68.1 20 -5 7.0 -0.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 67.2 35 -20 7.0 -0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 65.2 20 -5 7.5 0.0
BKIE BNY Mellon International Equity ETF 64.3 4 11 7.5 0.0
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 61.9 7 8 7.6 +0.1
FLEH Franklin FTSE Europe Hedged ETF 61.7 9 6 7.3 -0.3
FLEE Franklin FTSE Europe ETF 61.7 9 6 7.2 -0.4
BBEU JPMorgan BetaBuilders Europe ETF 61.6 9 6 7.5 -0.0
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 61.6 35 -20 6.9 -0.6
IEUR iShares Core MSCI Europe ETF 60.8 9 6 7.4 -0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 60.5 45 -30 6.9 -0.7
FEU SPDR Portfolio Europe ETF 60.3 9 6 7.5 -0.0
VGK Vanguard FTSE Europe ETF 60.1 8 7 7.6 +0.1
IEV iShares Europe ETF 59.8 59 -44 7.0 -0.5
IEFA iShares Core MSCI EAFE ETF 59.2 7 8 7.4 -0.2
JHMD John Hancock Multifactor Developed International ETF 57.9 39 -24 7.4 -0.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 57.5 14 1 7.1 -0.5
SCHF Schwab International Equity ETF 57.4 6 9 7.3 -0.2
QEFA SPDR MSCI EAFE Quality Mix ETF 55.8 30 -15 6.9 -0.7
DMXF iShares ESG Advanced MSCI EAFE ETF 55.6 12 3 7.0 -0.5
EFG iShares MSCI EAFE Growth ETF 53.4 40 -25 4.6 -3.0
IDEV iShares Core MSCI International Developed Markets ETF 53.3 5 10 7.3 -0.3
SPDW SPDR Portfolio Developed World ex-US ETF 52.3 4 11 7.2 -0.4
DOL WisdomTree International LargeCap Dividend Fund 51.7 48 -33 9.0 +1.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 51.7 45 -30 9.0 +1.5
DWM WisdomTree International Equity Fund 51.4 48 -33 8.5 +1.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 51.3 35 -20 8.8 +1.3
VEA Vanguard FTSE Developed Markets ETF 50.4 5 10 7.5 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 49.5 16 -1 7.0 -0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 49.0 25 -10 6.6 -1.0
RESD WisdomTree International ESG Fund 48.9 30 -15 6.9 -0.6
FNDF Schwab Fundamental International Large Co. Index ETF 48.8 25 -10 8.8 +1.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 48.2 25 -10 6.7 -0.8
EFV iShares MSCI EAFE Value ETF 46.6 39 -24 9.8 +2.3
VSGX Vanguard ESG International Stock ETF 46.6 17 -2 7.1 -0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 46.5 39 -24 6.6 -0.9
CWI SPDR MSCI ACWI ex-US ETF 46.3 30 -15 7.2 -0.3
PDEV Principal International Multi-Factor Core Index ETF 46.2 25 -10 8.0 +0.5
ACWX iShares MSCI ACWI ex U.S. ETF 43.9 32 -17 7.3 -0.2
IDY Pacific Global International Equity Income ETF 43.5 39 -24 8.2 +0.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 43.3 40 -25 7.1 -0.4
VEU Vanguard FTSE All-World ex-US Index Fund 41.5 8 7 7.6 +0.0
CIL VictoryShares International Volatility Weighted Index ETF 41.0 45 -30 7.0 -0.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 41.0 30 -15 6.1 -1.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 40.8 45 -30 7.0 -0.5
ISDX Invesco Strategic Developed ex-US ETF 39.8 23 -8 7.5 -0.1
IQIN IQ 500 International ETF 39.6 25 -10 8.8 +1.2
IMTM iShares Edge MSCI Intl Momentum Factor ETF 38.4 30 -15 4.5 -3.1
IXUS ishares Core MSCI Total International Stock ETF 38.4 9 6 7.4 -0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 37.7 30 -15 7.3 -0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 36.3 39 -24 8.4 +0.9
NUDM Nuveen ESG International Developed Markets Equity ETF 35.5 40 -25 6.9 -0.7
VXUS Vanguard Total International Stock Index Fund 34.6 8 7 7.6 +0.0
IPAC iShares Core MSCI Pacific ETF 34.5 9 6 7.2 -0.3
VPL Vanguard FTSE Pacific ETF 34.4 8 7 7.4 -0.2
TPIF Timothy Plan International ETF 34.4 62 -47 6.4 -1.2
AVDE Avantis International Equity ETF 34.4 23 -8 7.7 +0.2
VYMI Vanguard International High Dividend Yield ETF 34.3 27 -12 10.2 +2.6
PQIN PGIM QMA Strategic Alpha International Equity ETF 33.9 29 -14 7.9 +0.4
RBIN Nationwide Risk-Based International Equity ETF 32.4 42 -27 6.1 -1.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 31.7 45 -30 6.9 -0.6
EZU iShares MSCI Eurozone ETF 31.5 49 -34 6.8 -0.8
EURZ Xtrackers Eurozone Equity ETF 31.4 9 6 7.2 -0.3
RNDM Developed International Equity Select ETF 30.2 65 -50 6.3 -1.3
RFDI First Trust Riverfront Dynamic Developed International ETF 29.3 83 -68 5.8 -1.7
IDHQ Invesco S&P International Developed Quality ETF 29.0 29 -14 5.1 -2.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 28.9 20 -5 5.4 -2.1
FIVA Fidelity International Value Factor ETF 28.6 39 -24 10.1 +2.6
SCID Global X Scientific Beta Europe ETF 28.5 39 -24 0.0 -7.5
OEUR O'shares FTSE Europe Quality Dividend ETF 27.8 48 -33 7.0 -0.5
FDEV Fidelity Targeted International Factor ETF 27.6 39 -24 6.6 -0.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 27.5 24 -9 7.0 -0.5
DTH WisdomTree DEFA Equity Income Fund 27.4 58 -43 10.1 +2.6
IDMO Invesco S&P International Developed Momentum ETF 27.1 26 -11 4.1 -3.5
IGRO iShares International Dividend Growth ETF 27.1 22 -7 8.5 +1.0
VGFO Virtus WMC Global Factor Opportunities ETF 26.7 49 -34 8.2 +0.7
ESGG FlexShares STOXX Global ESG Impact Index Fund 26.4 42 -27 5.2 -2.3
QINT American Century Quality Diversified International ETF 26.2 39 -24 6.2 -1.3
JPIN JPMorgan Diversified Return International Equity ETF 26.0 37 -22 7.9 +0.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 25.0 29 -14 7.8 +0.3
IVLU iShares Edge MSCI Intl Value Factor ETF 25.0 30 -15 11.7 +4.2
BBJP JPMorgan BetaBuilders Japan ETF 23.7 19 -4 7.3 -0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 23.6 45 -30 7.1 -0.5
EWJ iShares MSCI Japan ETF 23.6 49 -34 7.0 -0.5
FLJP Franklin FTSE Japan ETF 23.5 9 6 7.4 -0.1
FLJH Franklin FTSE Japan Hedged ETF 23.5 9 6 7.3 -0.2
QWLD SPDR MSCI World StrategicFactors ETF 23.5 30 -15 6.1 -1.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 23.4 32 -17 6.1 -1.4
VIGI Vanguard International Dividend Appreciation ETF 23.4 20 -5 5.6 -1.9
QJPN SPDR MSCI Japan StrategicFactors ETF 23.2 14 1 7.5 -0.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 23.2 25 -10 7.2 -0.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 23.2 45 -30 6.6 -0.9
JPXN iShares JPX-Nikkei 400 ETF 22.5 48 -33 7.1 -0.5
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 22.5 9 6 7.5 -0.1
RFEU First Trust Riverfront Dynamic Europe ETF 22.0 83 -68 6.0 -1.6
IDLV Invesco S&P International Developed Low Volatility ETF 21.9 25 -10 6.6 -1.0

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 IQ Candriam ESG International Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.5 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 15 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.