KraneShares MSCI Emerging Markets EX China Index ETF
ALTAR
Score™
10.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.7x P/Sales
ratio
1.1x
P/BV
ratio
1.2x Div.
yield
4.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KEMX is benchmarked to the MSCI Emerging Markets ex China Index, which tracks large-cap and mid-cap companies within emerging market countries, excluding China.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor KraneShares
Website kraneshares.com
Inception date Apr 12, 2019
Assets (mns) $2
Currency USD
Expense ratio 49 bp
Distributions Annually

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 305
Wgt avg mkt cap (mns) $64,670
Large cap (>$10bn) 72.7%
Mid cap ($2-10bn) 25.0%
Small cap (<$2bn) 1.1%
Developed mkts 0.4%
Emerging mkts 99.6%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 9.6 %
SAMSUNG ELECTRONICS CO LTD 7.8 %
NASPERS LTD-N SHS 2.5 %
RELIANCE INDUSTRIES LTD 1.7 %
HYNIX SEMICONDUCTOR INC 1.7 %
HOUSING DEVELOPMENT FINANCE 1.4 %
INFOSYS TECHNOLOGIES-SP ADR 1.4 %
HON HAI PRECISION INDUSTRY 1.4 %
LUKOIL OAO 1.2 %
SAMSUNG ELECTRONICS-PFD 1.2 %
Total 30.0 %

TOP COUNTRY EXPOSURE
TAIWAN 21.7 %
SOUTH KOREA 21.3 %
INDIA 12.0 %
BRAZIL 8.0 %
RUSSIA 6.4 %
SOUTH AFRICA 5.9 %
MEXICO 3.1 %
MALAYSIA 2.9 %
THAILAND 2.9 %
INDONESIA 2.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-30.3% -- -- -- -24.2%

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

Technical Indicators
Recent close $18.96
30d moving avg. $20.36
Annualized volatility 0.0%
Short interest (ETF) 0.2%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $10,273

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the KraneShares MSCI Emerging Markets EX China Index ETF ETF based on the alternatives' overlap in portfolio holdings with KEMX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KEMX Expense: 49 bp ALTAR Score™: 10.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KEMX
Ticker Fund
Name
Overlap1
vs KEMX
(%)
Expense
ratio
(bp)
Savings
vs KEMX
(bp)
ALTAR
Score™
(%)
ALTAR
vs KEMX
(%)
EMXC iShares MSCI Emerging Markets ex China ETF 63.5 49 0 10.1 0.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 45.1 20 29 9.0 -1.0
JHEM John Hancock Multifactor Emerging Markets ETF 45.1 55 -6 10.5 +0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 44.6 30 19 10.1 +0.0
EEM iShares MSCI Emerging Markets ETF 42.7 68 -19 9.8 -0.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 41.4 65 -16 9.8 -0.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 39.9 45 4 10.1 +0.0
XCEM Columbia EM Core ex-China ETF 39.2 16 33 9.4 -0.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 38.9 32 17 8.2 -1.8
IEMG iShares Core MSCI Emerging Markets ETF 38.6 14 35 10.3 +0.2
ESGE iShares ESG MSCI EM ETF 37.1 25 24 11.3 +1.3
EEMA iShares MSCI Emerging Markets Asia ETF 36.7 50 -1 9.9 -0.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 35.3 49 0 10.7 +0.6
PXH Invesco FTSE RAFI Emerging Markets ETF 34.4 50 -1 15.7 +5.6
DVEM WisdomTree Emerging Markets Dividend Fund 33.4 32 17 10.7 +0.6
SCHE Schwab Emerging Markets Equity ETF 33.1 13 36 10.1 +0.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 31.7 30 19 10.6 +0.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 31.7 45 4 10.3 +0.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 31.4 68 -19 9.2 -0.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 31.2 39 10 15.0 +4.9
FLAX Franklin FTSE Asia Ex Japan ETF 30.8 19 30 9.8 -0.3
AIA iShares Asia 50 ETF 30.2 50 -1 9.9 -0.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 29.9 14 35 11.0 +0.9
AXJL WisdomTree Asia Pacific ex-Japan Fund 29.3 48 1 10.6 +0.6
VWO Vanguard FTSE Emerging Markets ETF 28.5 10 39 10.2 +0.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 28.3 59 -10 12.9 +2.8
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 26.5 64 -15 7.6 -2.5
SPEM SPDR Portfolio Emerging Markets ETF 26.3 11 38 10.0 -0.1
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 25.2 50 -1 12.3 +2.3
RNEM Emerging Markets Equity Select ETF 24.7 75 -26 11.4 +1.4
NUEM Nuveen ESG Emerging Markets Equity ETF 24.7 45 4 9.1 -1.0
FRDM Freedom 100 Emerging Markets ETF 24.2 49 0 8.8 -1.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 23.9 95 -46 12.0 +2.0
FDEM Fidelity Targeted Emerging Markets Factor ETF 23.5 45 4 11.3 +1.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 22.9 32 17 11.1 +1.1
EMCG WisdomTree Emerging Markets Consumer Growth Fund 22.5 32 17 8.9 -1.1
ROAM Hartford Multifactor Emerging Markets ETF 21.7 44 5 17.2 +7.2
FLTW Franklin FTSE Taiwan ETF 21.7 19 30 7.9 -2.2
EWT iShares MSCI Taiwan ETF 21.7 59 -10 7.5 -2.5
FLKR Franklin FTSE South Korea ETF 21.3 9 40 12.1 +2.0
BKF iShares MSCI BRIC ETF 21.3 69 -20 9.8 -0.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 21.0 25 24 9.6 -0.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 20.9 40 9 8.7 -1.3
DOGS Arrow Dogs of the World ETF 20.3 134 -85 13.6 +3.6
ISEM Invesco Strategic Emerging Markets ETF 20.3 35 14 11.6 +1.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 20.1 29 20 12.3 +2.2
EWY iShares MSCI South Korea ETF 20.1 59 -10 11.5 +1.5
AVEM Avantis Emerging Markets Equity ETF 19.2 33 16 11.3 +1.3
GMF SPDR S&P Emerging Asia Pacific ETF 18.4 49 0 9.2 -0.8
EEMO Invesco S&P Emerging Markets Momentum ETF 16.2 30 19 11.9 +1.8
EMFM Global X MSCI Next Emerging & Frontier ETF 15.0 55 -6 10.0 -0.0
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 14.4 51 -2 13.5 +3.5
BICK First Trust BICK Index Fund 14.4 64 -15 6.1 -4.0
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 14.1 45 4 15.8 +5.8
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 13.4 60 -11 9.9 -0.2
VIGI Vanguard International Dividend Appreciation ETF 13.1 25 24 6.9 -3.1
EMMF WisdomTree Emerging Markets Multifactor Fund 13.0 48 1 11.6 +1.5
DEM WisdomTree Emerging Markets High Dividend Fund 12.8 63 -14 16.2 +6.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 12.7 16 33 8.5 -1.5
FLLA Franklin FTSE Latin America ETF 12.4 19 30 9.0 -1.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 11.7 40 9 8.9 -1.2
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 11.5 20 29 12.6 +2.5
VYMI Vanguard International High Dividend Yield ETF 11.4 32 17 11.9 +1.9
FKO First Trust South Korea AlphadDEX Fund 10.8 80 -31 12.0 +2.0
FLIN Franklin FTSE India ETF 10.6 19 30 8.8 -1.3
INDA iShares MSCI India ETF 10.6 69 -20 8.4 -1.7
IXUS ishares Core MSCI Total International Stock ETF 10.5 9 40 9.2 -0.8
ACWX iShares MSCI ACWI ex U.S. ETF 10.5 32 17 9.1 -1.0
VSGX Vanguard ESG International Stock ETF 10.3 17 32 8.8 -1.2
NFTY First Trust India NIFTY 50 Equal Weight ETF 10.3 80 -31 12.7 +2.7
INDY iShares India 50 ETF 10.3 94 -45 8.7 -1.3
VXUS Vanguard Total International Stock Index Fund 10.2 8 41 9.4 -0.7
EPI WisdomTree India Earnings Fund 10.2 85 -36 13.6 +3.5
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 9.7 45 4 11.4 +1.4
PIE Invesco DWA Emerging Markets Momentum ETF 9.7 90 -41 6.9 -3.2
EDIV SPDR S&P Emerging Markets Dividend ETF 9.4 49 0 13.0 +3.0
PIN Invesco India ETF 9.2 82 -33 8.8 -1.2
VEU Vanguard FTSE All-World ex-US Index Fund 8.9 8 41 9.4 -0.7
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 8.8 58 -9 7.9 -2.2
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 8.5 80 -31 11.1 +1.1
VPL Vanguard FTSE Pacific ETF 8.4 8 41 9.6 -0.5
FLBR Franklin FTSE Brazil ETF 8.0 19 30 7.7 -2.3
EWZ iShares MSCI Brazil Capped ETF 8.0 59 -10 7.0 -3.0
FEM First Trust Emerging Markets AlphaDEX Fund 7.9 80 -31 14.2 +4.2
ECON Columbia Emerging Markets Consumer ETF 7.8 59 -10 5.6 -4.4
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 7.7 51 -2 19.9 +9.8
ACWV iShares Edge MSCI Min Vol Global ETF 7.2 20 29 6.5 -3.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 7.1 70 -21 15.0 +5.0
IGRO iShares International Dividend Growth ETF 7.0 22 27 9.5 -0.5
IXN iShares Global Tech ETF 6.9 46 3 5.8 -4.3
CWI SPDR MSCI ACWI ex-US ETF 6.8 30 19 9.0 -1.0
IDRV iShares Self-driving EV & Tech ETF 6.8 47 2 9.7 -0.4
GVAL Cambria Global Value ETF 6.6 69 -20 13.4 +3.3
VIDI Vident International Equity Fund 6.6 59 -10 14.5 +4.4
FILL iShares MSCI Global Energy Producers ETF 6.5 39 10 8.3 -1.8
ERUS iShares MSCI Russia ETF 6.4 59 -10 17.6 +7.5
FONE First Trust Indxx NextG ETF 6.4 70 -21 7.0 -3.0
ASEA Global X Southeast Asia ETF 6.2 65 -16 11.6 +1.5
FLZA Franklin FTSE South Africa ETF 5.9 19 30 14.4 +4.3
EZA iShares MSCI South Africa ETF 5.9 59 -10 12.1 +2.1

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

  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

Content on this tab for subscribers only

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:
KraneShares MSCI Emerging Markets EX China Index 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 12.2 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.45
 
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.