John Hancock Multifactor Emerging Markets
ALTAR
Score™
8.6% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
12.9x P/Sales
ratio
1.1x
P/BV
ratio
1.4x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The John Hancock Multifactor Emerging Markets ETF tracks a multi-factor selected and weighted index of large- and midcap stocks from emerging markets.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor John Hancock
Website www.jhinvestments.com
Inception date Sep 27, 2018
Assets (mns) $820
Currency USD
Expense ratio 55 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 644
Wgt avg mkt cap (mns) $80,044
Large cap (>$10bn) 72.5%
Mid cap ($2-10bn) 25.9%
Small cap (<$2bn) 0.4%
Developed mkts 7.2%
Emerging mkts 92.8%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 4.4 %
TENCENT HOLDINGS LTD 3.6 %
TAIWAN SEMICONDUCTOR MANUFAC 3.2 %
ALIBABA GROUP HOLDING LTD. SPONSOR 2.8 %
CHINA CONSTRUCTION BANK-H 1.5 %
CHINA MOBILE LIMITED 1.3 %
PING AN INSURANCE GROUP CO-H 1.1 %
IND & COMM BK OF CHINA - H 1.1 %
VALE SA 1.0 %
GAZPROM OAO-SPON ADR 0.9 %
Total 21.0 %

TOP COUNTRY EXPOSURE
CHINA 22.6 %
SOUTH KOREA 13.6 %
TAIWAN 13.2 %
INDIA 11.5 %
BRAZIL 7.8 %
HONG KONG 6.1 %
SOUTH AFRICA 5.8 %
RUSSIA 3.8 %
MEXICO 2.7 %
INDONESIA 2.6 %

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.
9.4% -- -- -- 10.5%

Market Correlations
versus... Beta R-squared
S&P500 0.79 66%
MSCI EAFE 1.09 75%
MSCI Emg. Mkts. 1.01 96%

Technical Indicators
Recent close $25.69
30d moving avg. $25.07
Annualized volatility 16.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 34
Turnover 0.1%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $15,654

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the John Hancock Multifactor Emerging Markets ETF based on the alternatives' overlap in portfolio holdings with JHEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JHEM Expense: 55 bp ALTAR Score™: 8.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JHEM
Ticker Fund
Name
Overlap1
vs JHEM
(%)
Expense
ratio
(bp)
Savings
vs JHEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs JHEM
(%)
EEM iShares MSCI Emerging Markets 68.9 67 -12 8.4 -0.2
DBEM Xtrackers MSCI Emg. Mkts. Hedged 68.4 65 -10 8.3 -0.3
EEMA iShares MSCI Emg Mkts Asia 65.7 50 5 8.5 -0.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 65.6 30 25 8.4 -0.2
IEMG iShares Core MSCI Emerging Markets 64.1 14 41 8.5 -0.2
AAXJ iShares MSCI Asia ex-Japan 60.8 67 -12 8.0 -0.6
SCHE Schwab Emerging Markets Equity 60.6 13 42 8.6 +0.0
FLAX Franklin FTSE Asia Ex Japan 59.4 19 36 8.5 -0.1
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 59.0 45 10 9.0 +0.4
XSOE WisdomTree Emg Mkt ex-SOE 57.3 32 23 6.8 -1.8
PBEE Invesco PureBeta FTSE Emerging Markets 55.1 14 41 9.1 +0.5
DVEM WisdomTree Emerging Markets Dividend 55.0 32 23 11.0 +2.4
VWO Vanguard Emerging Markets 54.3 12 43 8.5 -0.1
SPEM SPDR Portfolio Emerging Markets 52.3 11 44 8.3 -0.3
PXH Invesco FTSE-RAFI Emerging Markets 51.7 50 5 12.2 +3.5
EMXC iShares MSCI Emerging Markets ex China 49.7 49 6 8.5 -0.1
TLTE FlexShares Mngstr Emerging Markets Factor Tilt 49.5 59 -4 10.3 +1.7
QEMM SPDR MSCI Emerging Markets Quality Mix 49.2 30 25 9.1 +0.5
KEMX KraneShares MSCI Emerging Markets EX China Index 48.5 49 6 8.6 -0.1
GMF SPDR S&P Emerging Asia Pacific 46.7 49 6 8.0 -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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
John Hancock Multifactor Emerging Markets
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 12.4 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 8.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.49
 
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.