Infusive Compounding Global Equities ETF
ALTAR
Score™
3.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
35.9x P/Sales
ratio
4.7x
P/BV
ratio
8.0x Div.
yield
1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JOYY seeks long-term capital appreciation by tracking a market-cap weighted index of consumption-related global companies.

FUND BASICS
Category Global Equities
Fund Sponsor Infusive Asset Management
Website www.infusive.com
Inception date Dec 26, 2019
Assets (mns) $32
Currency USD
Expense ratio 50 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 111
Wgt avg mkt cap (mns) $666,768
Large cap (>$10bn) 96.9%
Mid cap ($2-10bn) 2.1%
Small cap (<$2bn) 0.1%
Developed mkts 88.3%
Emerging mkts 11.7%

TOP TEN HOLDINGS
APPLE INC 14.3 %
AMAZON.COM INC 8.4 %
FACEBOOK 4.0 %
ALPHABET INC. CLASS A 4.0 %
ALIBABA GROUP HOLDING LTD. SPONSOR 3.8 %
TENCENT HOLDINGS LTD 3.7 %
VISA INC-CLASS A SHARES 3.4 %
MASTERCARD INC-CLASS A 3.1 %
NESTLE SA-REG 3.0 %
WALT DISNEY CO/THE 2.6 %
Total 50.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 63.3 %
CHINA 9.8 %
FRANCE 3.7 %
SWITZERLAND 3.0 %
BRITAIN 2.6 %
NETHERLANDS 1.6 %
JAPAN 1.5 %
GERMANY 0.8 %
CANADA 0.7 %
BELGIUM 0.5 %

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.
34.3% -- -- -- 34.3%

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

Technical Indicators
Recent close $32.44
30d moving avg. $31.25
Annualized volatility 0.0%
Short interest (ETF) 1.9%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.5%
Bid/Ask (% of price) 0.30%
ADV underlying (mns) $80,299

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Infusive Compounding Global Equities ETF ETF based on the alternatives' overlap in portfolio holdings with JOYY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JOYY Expense: 50 bp ALTAR Score™: 3.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JOYY
Ticker Fund
Name
Overlap1
vs JOYY
(%)
Expense
ratio
(bp)
Savings
vs JOYY
(bp)
ALTAR
Score™
(%)
ALTAR
vs JOYY
(%)
MGK Vanguard Mega Cap Growth ETF 40.5 7 43 3.8 +0.2
IWY iShares Russell Top 200 Growth ETF 38.9 20 30 3.8 +0.2
XLG Invesco S&P 500 Top 50 ETF 38.4 20 30 4.3 +0.6
QYLD Global X NASDAQ 100 Covered Call ETF 37.5 60 -10 3.3 -0.3
NUSI Nationwide Risk-Managed Income ETF 37.3 68 -18 3.3 -0.4
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 37.0 60 -10 3.3 -0.4
VOOG Vanguard S&P 500 Growth ETF 36.9 10 40 4.1 +0.5
QQQM Invesco NASDAQ 100 ETF 36.7 15 35 3.7 +0.1
QQQ Invesco QQQ Trust 36.7 20 30 3.7 +0.1
SCHG Schwab U.S. Large-Cap Growth ETF 35.8 4 46 3.4 -0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 35.4 4 46 4.2 +0.6
IVW iShares S&P 500 Growth ETF 35.4 18 32 4.0 +0.4
IWF iShares Russell 1000 Growth ETF 34.8 19 31 3.7 +0.0
HIPR Direxion High Growth ETF 34.5 40 10 4.3 +0.7
TMFC Motley Fool 100 Index ETF 34.2 50 0 3.2 -0.4
IOO iShares Global 100 ETF 34.0 40 10 4.5 +0.8
VONG Vanguard Russell 1000 Growth Index Fund 33.9 8 42 3.8 +0.1
OEF iShares S&P 100 ETF 33.7 20 30 4.5 +0.9
VUG Vanguard Growth Index Fund 33.6 4 46 3.7 +0.1
IUSG iShares Core S&P US Growth ETF 33.5 4 46 4.2 +0.6
IETC iShares Evolved U.S. Technology ETF 33.5 18 32 3.6 0.0
IGM iShares Expanded Tech Sector ETF 32.8 46 4 3.6 -0.1
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 31.5 21 29 3.2 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 30.8 60 -10 3.8 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 30.2 12 38 4.2 +0.6
ESGV Vanguard ESG U.S. Stock ETF 28.4 12 38 4.7 +1.1
BKLC BNY Mellon US Large Cap Core Equity ETF 28.1 0 50 4.8 +1.2
SPXV ProShares S&P 500 Ex-Health Care ETF 28.1 27 23 4.6 +1.0
EFIV SPDR S&P 500 ESG ETF 28.1 10 40 4.8 +1.1
SNPE Xtrackers S&P 500 ESG ETF 28.1 10 40 4.8 +1.1
SPXN ProShares S&P 500 Ex-Financials ETF 27.9 27 23 4.7 +1.0
IWL iShares Russell Top 200 ETF 27.8 15 35 4.6 +1.0
IQSU IQ Candriam ESG US Equity ETF 27.7 9 41 4.8 +1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 27.4 49 1 3.9 +0.3
MGC Vanguard Mega Cap Index Fund 27.2 7 43 4.8 +1.2
SFYF SoFi 50 ETF 27.1 29 21 0.8 -2.8
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 26.7 15 35 5.9 +2.3
NACP Impact Shares NAACP Minority Empowerment ETF 26.5 75 -25 4.7 +1.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 26.4 12 38 5.1 +1.5
JKD iShares Morningstar Large-Cap ETF 26.4 20 30 5.4 +1.8
SPQQ Siren Large Cap Blend Index ETF 25.8 20 30 4.4 +0.8
PLAT WisdomTree Modern Tech Platforms Fund 25.5 20 30 1.7 -1.9
STLG iShares Factors US Growth Style ETF 25.5 25 25 4.2 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 25.4 20 30 4.6 +1.0
CATH Global X S&P 500 Catholic Values Custom ETF 25.3 29 21 4.8 +1.2
MMLG First Trust Multi-Manager Large Growth ETF 25.1 85 -35 2.0 -1.6
PBP Invesco S&P 500 BuyWrite ETF 25.1 49 1 4.6 +1.0
HSPX Global X S&P 500 Covered Call ETF 25.0 60 -10 4.5 +0.9
SPXE ProShares S&P 500 Ex-Energy ETF 24.9 27 23 4.9 +1.3
QUAL iShares MSCI Usa Quality Factor ETF 24.8 15 35 5.1 +1.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 24.7 20 30 5.0 +1.3
XYLG Global X S&P 500 Covered Call & Growth ETF 24.7 60 -10 4.7 +1.0
TECB iShares US Tech Breakthrough Multisector ETF 24.6 40 10 3.9 +0.3
SPY SPDR S&P 500 ETF Trust 24.3 9 41 5.0 +1.4
IVV iShares Core S&P 500 ETF 24.3 3 47 5.0 +1.4
SPLG SPDR Portfolio Large Cap ETF 24.3 3 47 5.1 +1.4
IEDI iShares Evolved U.S. Discretionary Spending ETF 24.3 18 32 3.6 -0.1
SPMO Invesco S&P 500 Momentum ETF 24.2 13 37 4.0 +0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 23.9 7 43 4.8 +1.1
VOO VANGUARD S&P 500 ETF 23.9 3 47 5.0 +1.4
LRGE ClearBridge Large Cap Growth ESG ETF 23.7 59 -9 3.5 -0.2
PBUS Invesco PureBeta MSCI USA ETF 23.4 4 46 4.9 +1.2
WOMN Impact Shares YWCA Women's Empowerment ETF 23.4 75 -25 3.9 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 23.3 15 35 4.7 +1.1
OGIG O'Shares Global Internet Giants ETF 23.3 48 2 0.7 -2.9
ESG FlexShares STOXX US ESG Impact Index Fund 23.1 32 18 4.8 +1.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 23.1 2 48 4.9 +1.3
VV Vanguard Large-Cap Index Fund 22.6 4 46 4.8 +1.2
ACSI American Customer Satisfaction Core Alpha ETF 22.6 66 -16 3.7 +0.1
FQAL Fidelity Quality Factor ETF 22.6 29 21 5.2 +1.6
TTTN UP Fintech China-U.S. Internet Titans ETF 22.5 59 -9 4.8 +1.2
SYG SPDR MFS Systematic Growth Equity ETF 22.4 60 -10 4.1 +0.5
FVAL Fidelity Value Factor ETF 22.4 29 21 7.2 +3.6
SPTM SPDR Portfolio Total Stock Market ETF 22.3 3 47 5.1 +1.5
SCHX Schwab U.S. Large-Cap ETF 22.3 3 47 4.8 +1.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 22.2 19 31 5.6 +1.9
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 22.0 9 41 5.0 +1.4
EPS WisdomTree U.S. Earnings 500 Fund 22.0 8 42 6.0 +2.3
EXT WisdomTree U.S. Total Earnings Fund 22.0 28 22 5.3 +1.6
IWB iShares Russell 1000 ETF 21.9 15 35 4.7 +1.1
SCHK Schwab 1000 Index ETF 21.8 5 45 4.8 +1.2
SPXT ProShares S&P 500 Ex-Technology ETF 21.8 27 23 5.2 +1.6
IYW iShares U.S. Technology ETF 21.8 43 7 3.7 +0.1
IYY iShares Dow Jones U.S. ETF 21.6 20 30 4.7 +1.1
KXI iShares Global Consumer Staples ETF 21.5 46 4 5.3 +1.7
VTHR Vanguard Russell 3000 Index Fund 21.1 10 40 4.7 +1.0
ADME Aptus Drawdown Managed Equity ETF 21.1 79 -29 3.3 -0.4
QLV FlexShares US Quality Low Volatility Index Fund 20.9 22 28 4.7 +1.1
JKE iShares Morningstar Large-Cap Growth ETF 20.9 25 25 2.9 -0.8
KRMA Global X Conscious Companies ETF 20.8 43 7 5.1 +1.5
FLRG Fidelity U.S. Multifactor ETF 20.6 29 21 6.2 +2.6
QLC FlexShares US Quality Large Cap Index Fund 20.6 32 18 5.0 +1.4
IWV iShares Russell 3000 ETF 20.5 20 30 4.6 +0.9
IYC iShares U.S. Consumer Services ETF 20.5 43 7 3.4 -0.2
SCHB Schwab U.S. Broad Market ETF 20.5 3 47 4.7 +1.1
XLK Technology Select Sector SPDR Fund 20.4 13 37 4.5 +0.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 20.4 3 47 4.7 +1.1
FTEC Fidelity MSCI Information Technology Index ETF 20.4 8 42 4.2 +0.6
DFAU Dimensional US Core Equity Market ETF 20.3 12 38 5.0 +1.4

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:
Infusive Compounding Global Equities 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 28.3 %
Divided by: Fwd. P/BV 6.9 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 3.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 CATEGORY
AVERAGE
1.48
 
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.