Innovation Shares NextGen Protocol ETF
ALTAR
Score™
5.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.2x P/Sales
ratio
1.5x
P/BV
ratio
2.4x Div.
yield
2.8%


  • 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 30, 2018
Assets (mns) $7
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 44
Wgt avg mkt cap (mns) $205,746
Large cap (>$10bn) 97.6%
Mid cap ($2-10bn) 1.9%
Small cap (<$2bn) 0.5%
Developed mkts 91.1%
Emerging mkts 8.9%

TOP TEN HOLDINGS
BP PLC 5.2 %
NESTLE SA-REG 4.8 %
INTEL CORP 4.6 %
AMAZON.COM INC 4.6 %
NVIDIA CORP 4.2 %
CISCO SYSTEMS INC 4.2 %
MICROSOFT CORP 4.2 %
ORACLE CORP 4.2 %
TAIWAN SEMICONDUCTOR-SP ADR 4.1 %
INTL BUSINESS MACHINES CORP 3.9 %
Total 44.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 62.9 %
BRITAIN 6.2 %
FRANCE 5.8 %
TAIWAN 5.3 %
SWITZERLAND 4.8 %
IRELAND 3.4 %
HONG KONG 2.1 %
INDIA 1.7 %
SOUTH KOREA 1.5 %
JAPAN 1.3 %

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.
-14.6% -5.1% -- -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 0.97 92%
MSCI EAFE 0.92 74%
MSCI Emg. Mkts. 0.69 58%

Technical Indicators
Recent close $23.28
30d moving avg. $25.17
Annualized volatility 17.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 4
Turnover 1.3%
Bid/Ask (% of price) 1.11%
ADV underlying (mns) $56,555

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™: 5.9%


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 37.4 40 55 5.5 -0.4
XLK Technology Select Sector SPDR Fund 35.6 13 82 6.4 +0.5
XNTK SPDR Morgan Stanley Technology ETF 34.5 35 60 5.5 -0.4
IGM iShares North American Tech ETF 34.4 46 49 5.5 -0.4
FTEC Fidelity MSCI Information Technology Index ETF 32.9 8 87 6.3 +0.4
VGT Vanguard Information Technology Index Fund 32.8 10 85 6.3 +0.4
IXN iShares Global Tech ETF 31.2 46 49 6.3 +0.4
IETC iShares Evolved U.S. Technology ETF 30.3 18 77 5.4 -0.4
AIQ Global X Future Analytics Tech ETF 30.0 68 27 5.8 -0.1
BLCN Reality Shares Nasdaq NextGen Economy ETF 30.0 68 27 6.2 +0.4
LEGR First Trust Index Digital Transaction & Process Technology E 27.9 65 30 9.3 +3.4
JHMT John Hancock Multifactor Technology ETF 27.9 40 55 6.9 +1.0
TDV ProShares S&P Technology Dividend Aristocrats ETF 26.5 45 50 6.4 +0.5
GDAT Goldman Sachs Motif Data-Driven World Etf 26.3 50 45 7.0 +1.1
IYW iShares U.S. Technology ETF 25.8 42 53 5.7 -0.2
VEGN US Vegan Climate ETF 24.7 60 35 7.2 +1.4
LRNZ TrueMark Technology, AI & Deep Learning ETF 24.4 68 27 1.6 -4.3
TDIV First Trust NASDAQ Technology Dividend Index Fund 24.3 50 45 7.7 +1.8
SKYY First Trust Cloud Computing ETF 24.0 60 35 3.0 -2.9
RYT Invesco S&P 500 Equal Weight Technology ETF 23.3 40 55 8.4 +2.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 23.1 12 83 6.4 +0.5
SPHQ Invesco S&P 500 Quality ETF 22.8 15 80 6.5 +0.6
JKE iShares Morningstar Large-Cap Growth ETF 22.3 25 70 4.7 -1.2
IWY iShares Russell Top 200 Growth ETF 22.1 20 75 5.6 -0.3
BLOK Amplify Transformational Data Sharing ETF 22.1 70 25 5.0 -0.9
EDOW First Trust Dow 30 Equal Weight ETF 21.6 50 45 7.4 +1.5
TMFC Motley Fool 100 Index ETF 21.5 50 45 5.3 -0.6
DRIV Global X Autonomous & Electric Vehicles ETF 21.5 68 27 8.7 +2.9
XLG Invesco S&P 500 Top 50 ETF 21.3 20 75 6.0 +0.1
ESG FlexShares STOXX US ESG Impact Index Fund 20.9 32 63 6.9 +1.0
IQSU IQ Candriam ESG US Equity ETF 20.8 9 86 6.8 +0.9
LRGE ClearBridge Large Cap Growth ESG ETF 20.7 60 35 5.4 -0.5
VOOG Vanguard S&P 500 Growth ETF 20.4 10 85 5.8 -0.1
SPYG SPDR Portfolio S&P 500 Growth ETF 20.4 4 91 5.9 -0.0
RFFC RiverFront Dynamic US Flex-Cap ETF 20.4 52 43 7.7 +1.8
IVW iShares S&P 500 Growth ETF 20.4 18 77 5.7 -0.2
IWF iShares Russell 1000 Growth ETF 20.3 19 76 5.8 -0.1
VONG Vanguard Russell 1000 Growth Index Fund 20.3 8 87 5.9 -0.0
MGK Vanguard Mega Cap Growth ETF 20.1 7 88 5.7 -0.2
QYLD Global X NASDAQ 100 Covered Call ETF 20.1 60 35 5.0 -0.8
NACP Impact Shares NAACP Minority Empowerment ETF 20.0 75 20 6.3 +0.4
SPMO Invesco S&P 500 Momentum ETF 19.8 13 82 5.4 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 19.8 60 35 6.0 +0.2
OEF iShares S&P 100 ETF 19.7 20 75 6.4 +0.6
IUSG iShares Core S&P US Growth ETF 19.7 4 91 5.9 +0.0
QQQ Invesco QQQ Trust 19.7 20 75 5.5 -0.4
NUSI Nationwide Risk-Managed Income ETF 19.7 68 27 5.0 -0.9
GFIN Goldman Sachs Motif Finance Reimagined ETF 19.5 50 45 8.1 +2.3
SPXV ProShares S&P 500 Ex-Health Care ETF 19.5 27 68 6.9 +1.0
PWB Invesco Dynamic Large Cap Growth ETF 19.2 55 40 4.6 -1.3
IWL iShares Russell Top 200 ETF 19.1 15 80 6.7 +0.8
DSI iShares MSCI KLD 400 Social ETF 19.0 25 70 6.9 +1.0
VUG Vanguard Growth Index Fund 19.0 4 91 5.6 -0.3
SFY SoFi Select 500 ETF 18.9 0 95 6.7 +0.8
SYG SPDR MFS Systematic Growth Equity ETF 18.9 60 35 6.4 +0.5
MGC Vanguard Mega Cap Index Fund 18.7 7 88 6.9 +1.0
RFDA RiverFront Dynamic US Dividend Advantage ETF 18.7 52 43 8.0 +2.1
SNPE Xtrackers S&P 500 ESG ETF 18.7 11 84 7.0 +1.1
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 18.6 29 66 5.7 -0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 18.6 20 75 6.7 +0.9
QGRO American Century STOXX U.S. Quality Growth ETF 18.6 29 66 4.6 -1.3
SPXN ProShares S&P 500 Ex-Financials ETF 18.5 27 68 6.7 +0.8
SCHG Schwab U.S. Large-Cap Growth ETF 18.4 4 91 5.7 -0.2
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 18.3 57 38 6.4 +0.6
ESGU iShares MSCI USA ESG Optimized ETF 18.1 15 80 6.8 +0.9
ARKF ARK Fintech Innovation ETF 18.1 75 20 2.0 -3.9
FVAL Fidelity Value Factor ETF 18.0 29 66 11.1 +5.2
BUYZ Franklin Disruptive Commerce ETF 17.8 50 45 0.3 -5.6
HSPX Global X S&P 500 Covered Call ETF 17.8 65 30 6.6 +0.7
SMH VanEck Vectors Semiconductor ETF 17.7 35 60 7.5 +1.6
SOXX iShares PHLX Semiconductor ETF 17.7 46 49 7.2 +1.3
PBP Invesco S&P 500 BuyWrite ETF 17.7 49 46 6.8 +0.9
ESGV Vanguard ESG U.S. Stock ETF 17.6 12 83 7.1 +1.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 17.5 20 75 7.2 +1.3
CATH Global X S&P 500 Catholic Values Custom ETF 17.5 29 66 7.1 +1.2
SPXE ProShares S&P 500 Ex-Energy ETF 17.5 27 68 7.1 +1.2
SPY SPDR S&P 500 ETF Trust 17.2 9 86 7.2 +1.3
VOO VANGUARD S&P 500 ETF 17.2 3 92 7.2 +1.3
WOMN Impact Shares YWCA Women's Empowerment ETF 17.1 75 20 6.4 +0.5
SPLG SPDR Portfolio Large Cap ETF 17.1 3 92 7.2 +1.4
IVV iShares Core S&P 500 ETF 17.1 4 91 7.2 +1.3
JOYY Infusive Compounding Global Equities ETF 17.0 50 45 5.2 -0.7
VV Vanguard Large-Cap Index Fund 17.0 4 91 7.1 +1.2
ESGG FlexShares STOXX Global ESG Impact Index Fund 16.9 42 53 7.3 +1.4
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 16.9 21 74 4.4 -1.5
NULC Nuveen ESG Large-Cap ETF 16.9 20 75 7.0 +1.1
QLC FlexShares US Quality Large Cap Index Fund 16.9 32 63 7.5 +1.6
SUSA iShares MSCI USA ESG Select ETF 16.9 25 70 6.3 +0.4
ADME Aptus Drawdown Managed Equity ETF 16.9 81 14 5.5 -0.4
DIA SPDR Dow Jones Industrial Average ETF Trust 16.8 16 79 7.5 +1.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 16.7 2 93 7.2 +1.3
CACG ClearBridge All Cap Growth ETF 16.7 54 41 5.7 -0.1
SUSL iShares ESG MSCI USA Leaders ETF 16.6 10 85 7.1 +1.2
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 16.6 10 85 7.1 +1.2
PBUS Invesco PureBeta MSCI USA ETF 16.6 4 91 7.2 +1.3
QUS SPDR MSCI USA StrategicFactors ETF 16.5 15 80 7.4 +1.5
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 16.5 75 20 5.0 -0.9
SCHX Schwab U.S. Large-Cap ETF 16.4 3 92 7.1 +1.3
FDN First Trust Dow Jones Internet Index Fund 16.3 52 43 3.9 -2.0
BVAL Brand Value ETF 16.3 65 30 9.0 +3.1

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%.

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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 16.2 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 95 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 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.