Innovation Shares NextGen Protocol ETF
ALTAR
Score™
4.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
23.4x P/Sales
ratio
2.3x
P/BV
ratio
3.2x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KOIN seeks to give investors access to companies that may benefit from a blockchain technology.

FUND BASICS
Category Global Equities
Fund Sponsor Innovation Shares
Website www.innovationshares.com
Inception date Jan 29, 2018
Assets (mns) $9
Currency USD
Expense ratio 95 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 43
Wgt avg mkt cap (mns) $264,119
Large cap (>$10bn) 96.9%
Mid cap ($2-10bn) 2.2%
Small cap (<$2bn) 0.9%
Developed mkts 90.5%
Emerging mkts 9.5%

TOP TEN HOLDINGS
AMAZON.COM INC 4.9 %
NVIDIA CORP 4.9 %
TAIWAN SEMICONDUCTOR-SP ADR 4.6 %
PAYPAL HOLDINGS INC 4.5 %
MICROSOFT CORP 4.4 %
SALESFORCE.COM INC 4.3 %
NESTLE SA-REG 4.1 %
INTEL CORP 4.1 %
VISA INC-CLASS A SHARES 3.9 %
MASTERCARD INC-CLASS A 3.8 %
Total 43.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 65.8 %
FRANCE 6.6 %
TAIWAN 5.7 %
SWITZERLAND 4.1 %
IRELAND 2.8 %
JAPAN 2.8 %
HONG KONG 2.4 %
SOUTH KOREA 1.9 %
INDIA 1.9 %
BRITAIN 0.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
5.8% 12.8% -- -- 9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.96 92%
MSCI EAFE 0.97 79%
MSCI Emg. Mkts. 0.71 62%

Technical Indicators
Recent close $30.84
30d moving avg. $29.93
Annualized volatility 18.6%
Short interest (ETF) 1.2%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 3
Turnover 1.0%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $52,817

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Innovation Shares NextGen Protocol ETF ETF based on the alternatives' overlap in portfolio holdings with KOIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KOIN Expense: 95 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KOIN
Ticker Fund
Name
Overlap1
vs KOIN
(%)
Expense
ratio
(bp)
Savings
vs KOIN
(bp)
ALTAR
Score™
(%)
ALTAR
vs KOIN
(%)
TECB iShares US Tech Breakthrough Multisector ETF 36.3 40 55 4.0 -0.3
XLK Technology Select Sector SPDR Fund 35.0 13 82 4.7 +0.4
IGM iShares Expanded Tech Sector ETF 32.6 46 49 3.8 -0.6
XNTK SPDR NYSE Technology ETF 32.1 35 60 3.6 -0.8
FTEC Fidelity MSCI Information Technology Index ETF 31.7 8 87 4.6 +0.2
VGT Vanguard Information Technology Index Fund 31.3 10 85 4.6 +0.2
IXN iShares Global Tech ETF 30.0 46 49 4.5 +0.2
LEGR First Trust Index Digital Transaction & Process Technology E 29.7 65 30 7.1 +2.8
IETC iShares Evolved U.S. Technology ETF 29.4 18 77 3.8 -0.6
AIQ Global X Future Analytics Tech ETF 28.4 68 27 3.9 -0.5
VEGN US Vegan Climate ETF 28.2 60 35 5.2 +0.9
BLCN Reality Shares Nasdaq NextGen Economy ETF 27.8 68 27 4.0 -0.4
JKE iShares Morningstar Large-Cap Growth ETF 27.3 25 70 2.8 -1.5
BLOK Amplify Transformational Data Sharing ETF 26.5 70 25 4.6 +0.3
SPHQ Invesco S&P 500 Quality ETF 26.5 15 80 4.6 +0.3
TDV ProShares S&P Technology Dividend Aristocrats ETF 26.2 45 50 4.8 +0.5
JHMT John Hancock Multifactor Technology ETF 26.0 40 55 5.0 +0.6
GDAT Goldman Sachs Motif Data-Driven World Etf 25.7 50 45 4.9 +0.6
TDIV First Trust NASDAQ Technology Dividend Index Fund 25.1 50 45 5.8 +1.5
LRNZ TrueMark Technology, AI & Deep Learning ETF 24.4 68 27 0.8 -3.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 24.2 12 83 4.8 +0.4
XLG Invesco S&P 500 Top 50 ETF 23.1 20 75 4.4 +0.1
RFDA RiverFront Dynamic US Dividend Advantage ETF 23.1 52 43 5.0 +0.7
IYW iShares U.S. Technology ETF 22.5 42 53 4.0 -0.4
SKYY First Trust Cloud Computing ETF 22.4 60 35 2.2 -2.1
IWY iShares Russell Top 200 Growth ETF 22.2 20 75 4.1 -0.3
TMFC Motley Fool 100 Index ETF 22.1 50 45 3.7 -0.7
RYT Invesco S&P 500 Equal Weight Technology ETF 21.8 40 55 6.8 +2.5
MGK Vanguard Mega Cap Growth ETF 21.2 7 88 4.1 -0.3
IQSU IQ Candriam ESG US Equity ETF 21.1 9 86 5.1 +0.7
GFIN Goldman Sachs Motif Finance Reimagined ETF 21.1 50 45 5.4 +1.1
OEF iShares S&P 100 ETF 21.0 20 75 4.8 +0.4
DRIV Global X Autonomous & Electric Vehicles ETF 21.0 68 27 5.4 +1.0
ESG FlexShares STOXX US ESG Impact Index Fund 21.0 32 63 5.1 +0.7
VOOG Vanguard S&P 500 Growth ETF 20.8 10 85 4.2 -0.1
SPYG SPDR Portfolio S&P 500 Growth ETF 20.8 4 91 4.3 -0.0
IVW iShares S&P 500 Growth ETF 20.8 18 77 4.2 -0.2
LRGE ClearBridge Large Cap Growth ESG ETF 20.5 59 36 3.8 -0.5
VONG Vanguard Russell 1000 Growth Index Fund 20.5 8 87 4.2 -0.1
QYLD Global X NASDAQ 100 Covered Call ETF 20.5 60 35 3.5 -0.9
NUSI Nationwide Risk-Managed Income ETF 20.3 68 27 3.5 -0.9
SYG SPDR MFS Systematic Growth Equity ETF 20.3 60 35 4.3 -0.1
IWF iShares Russell 1000 Growth ETF 20.3 19 76 4.1 -0.2
FDG American Century Focused Dynamic Growth ETF 20.2 45 50 1.7 -2.6
IUSG iShares Core S&P US Growth ETF 20.2 4 91 4.3 -0.0
IWL iShares Russell Top 200 ETF 20.1 15 80 5.0 +0.7
SPXV ProShares S&P 500 Ex-Health Care ETF 20.1 27 68 5.0 +0.7
DSI iShares MSCI KLD 400 Social ETF 20.1 25 70 5.1 +0.8
NULC Nuveen ESG Large-Cap ETF 20.0 20 75 5.0 +0.7
XOUT GraniteShares XOUT U.S. Large Cap ETF 20.0 60 35 4.4 +0.0
SMH VanEck Vectors Semiconductor ETF 19.9 35 60 5.4 +1.1
VUG Vanguard Growth Index Fund 19.8 4 91 4.0 -0.3
RFFC RiverFront Dynamic US Flex-Cap ETF 19.8 52 43 4.7 +0.4
SOXX iShares PHLX Semiconductor ETF 19.8 46 49 5.3 +0.9
BKLC BNY Mellon US Large Cap Core Equity ETF 19.8 0 95 5.2 +0.9
QQQ Invesco QQQ Trust 19.7 20 75 3.8 -0.6
NACP Impact Shares NAACP Minority Empowerment ETF 19.6 75 20 4.5 +0.2
ADME Aptus Drawdown Managed Equity ETF 19.5 81 14 3.6 -0.8
MGC Vanguard Mega Cap Index Fund 19.5 7 88 5.2 +0.9
SCHG Schwab U.S. Large-Cap Growth ETF 19.4 4 91 4.1 -0.2
SPXN ProShares S&P 500 Ex-Financials ETF 19.4 27 68 5.0 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 19.4 20 75 5.0 +0.6
FMK First Trust Mega Cap AlphaDEX Fund 19.3 70 25 5.2 +0.8
HIPR Direxion High Growth ETF 19.2 40 55 2.8 -1.5
SNPE Xtrackers S&P 500 ESG ETF 19.1 11 84 5.1 +0.8
SPMO Invesco S&P 500 Momentum ETF 18.9 13 82 4.4 +0.0
SFY SoFi Select 500 ETF 18.9 0 95 5.2 +0.9
ESGU iShares MSCI USA ESG Optimized ETF 18.9 15 80 5.1 +0.8
SPXE ProShares S&P 500 Ex-Energy ETF 18.8 27 68 5.3 +1.0
ECOZ TrueMark ESG Active Opportunities ETF 18.8 58 37 4.2 -0.2
PBP Invesco S&P 500 BuyWrite ETF 18.8 49 46 5.0 +0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 18.7 20 75 5.4 +1.0
CATH Global X S&P 500 Catholic Values Custom ETF 18.7 29 66 5.2 +0.9
ESGV Vanguard ESG U.S. Stock ETF 18.7 12 83 5.2 +0.8
HSPX Global X S&P 500 Covered Call ETF 18.6 65 30 4.9 +0.6
SPY SPDR S&P 500 ETF Trust 18.6 9 86 5.4 +1.0
IVV iShares Core S&P 500 ETF 18.6 4 91 5.4 +1.1
VOO VANGUARD S&P 500 ETF 18.5 3 92 5.4 +1.1
SPLG SPDR Portfolio Large Cap ETF 18.5 3 92 5.4 +1.1
ENTR Entrepreneur 30 Fund 18.5 49 46 2.5 -1.9
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 18.4 57 38 4.9 +0.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 18.4 7 88 5.2 +0.8
FVAL Fidelity Value Factor ETF 18.3 29 66 8.0 +3.7
VV Vanguard Large-Cap Index Fund 18.3 4 91 5.3 +0.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 18.2 2 93 5.3 +1.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 18.2 10 85 5.3 +1.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 18.1 12 83 4.9 +0.6
SUSL iShares ESG MSCI USA Leaders ETF 18.1 10 85 5.3 +1.0
PBUS Invesco PureBeta MSCI USA ETF 18.0 4 91 5.3 +0.9
SUSA iShares MSCI USA ESG Select ETF 18.0 25 70 4.8 +0.5
WOMN Impact Shares YWCA Women's Empowerment ETF 17.9 75 20 4.5 +0.1
FDMO Fidelity Momentum Factor ETF 17.9 29 66 3.8 -0.5
SCHX Schwab U.S. Large-Cap ETF 17.8 3 92 5.3 +1.0
ESGG FlexShares STOXX Global ESG Impact Index Fund 17.7 42 53 5.4 +1.1
SPTM SPDR Portfolio Total Stock Market ETF 17.6 3 92 5.5 +1.2
NULG Nuveen ESG Large-Cap Growth ETF 17.6 35 60 3.6 -0.8
FDN First Trust Dow Jones Internet Index Fund 17.5 52 43 2.2 -2.2
SCHK Schwab 1000 Index ETF 17.4 5 90 5.3 +0.9
PWB Invesco Dynamic Large Cap Growth ETF 17.4 55 40 3.4 -1.0
VONE Vanguard Russell 1000 ETF 17.4 8 87 5.3 +0.9

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:
Innovation Shares NextGen Protocol 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 16.1 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 95 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.50
 
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.