KPOP and Korean Entertainment ETF
ALTAR
Score™		 -9.2% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 46.2x P/Sales
ratio		 0.8x
P/BV
ratio		 1.6x Div.
yield		 0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KPOP tracks a market cap-weighted index of Korea-listed stocks that are engaged in the entertainment and interactive media & services industries.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Exchange Traded Concepts
Website www.kpopetf.com/
Inception date Aug 31, 2022
Assets (mns) $2
Currency USD
Expense ratio 75 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 34
Wgt avg mkt cap (mns) $3,989
Large cap (>$10bn) 25.8%
Mid cap ($2-10bn) 13.1%
Small cap (<$2bn) 61.1%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
NHN CORP 10.5 %
JYP ENTERTAINMENT CORP 9.6 %
DAUM COMMUNICATIONS CORP 9.4 %
BIG HIT ENTERTAINMENT CO., LTD. 8.8 %
AFREECATV CO., LTD. 6.9 %
CJ CGV CO LTD 5.2 %
WYSIWYG STUDIOS CO., LTD. 4.9 %
CJ O SHOPPING CO LTD 4.7 %
STUDIO DRAGON CORP. 4.7 %
YG ENTERTAINMENT INC 4.6 %
Total 69.3 %

TOP COUNTRY EXPOSURE
SOUTH KOREA 78.0 %










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.
-33.8% -19.5% -- -- -19.1%

Market Correlations
versus... Beta R-squared
S&P500 1.07 30%
MSCI EAFE 1.18 42%
MSCI Emg. Mkts. 1.27 49%

Technical Indicators
Recent close $13.85
30d moving avg. $13.00
Annualized volatility 26.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 1.24%
ADV underlying (mns) $146

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 103 potential alternatives to the KPOP and Korean Entertainment ETF ETF based on the alternatives' overlap in portfolio holdings with KPOP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KPOP Expense: 75 bp ALTAR Score™: -9.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KPOP
Ticker Fund
Name		 Overlap1
vs KPOP
(%)		 Expense
ratio
(bp)		 Savings
vs KPOP
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KPOP
(%)
SOCL Global X Social Media ETF 12.1 65 10 -6.4 +2.9
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 5.1 60 15 0.5 +9.7
EWY iShares MSCI South Korea ETF 4.0 58 17 9.8 +19.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 3.8 86 -11 1.6 +10.9
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 3.6 86 -11 1.2 +10.5
FLKR Franklin FTSE South Korea ETF 3.6 9 66 10.6 +19.8
FDNI First Trust Dow Jones International Internet ETF 2.5 65 10 2.1 +11.4
FDCF Fidelity Disruptive Communications ETF 2.2 50 25 2.6 +11.8
FMET Fidelity Metaverse ETF 1.9 39 36 5.4 +14.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.8 60 15 9.8 +19.0
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 1.5 18 57 6.8 +16.1
ISHP First Trust Nasdaq Retail ETF 1.4 60 15 2.9 +12.1
METV Roundhill Ball Metaverse ETF 1.3 59 16 3.4 +12.6
FTHF First Trust Emerging Markets Human Flourishing ETF 1.3 75 0 8.9 +18.1
FRDM Freedom 100 Emerging Markets ETF 0.9 49 26 7.3 +16.5
WTAI WisdomTree Artificial Intelligence and Innovation Fund 0.9 45 30 3.1 +12.4
EMM Global X Emerging Markets ex-China ETF 0.9 75 0 4.2 +13.5
XCEM Columbia EM Core ex-China ETF 0.8 16 59 7.7 +16.9
ECON Columbia Emerging Markets Consumer ETF 0.8 49 26 7.3 +16.6
EMC Global X Emerging Markets Great Consumer ETF 0.8 75 0 4.5 +13.7
LDEM iShares ESG MSCI EM Leaders ETF 0.8 17 58 7.6 +16.9
NUEM Nuveen ESG Emerging Markets Equity ETF 0.8 36 39 6.5 +15.7
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.8 65 10 0.2 +9.5
AIA iShares Asia 50 ETF 0.7 50 25 6.6 +15.9
EMDM First Trust Bloomberg Emerging Market Democracies ETF 0.7 75 0 8.2 +17.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.7 20 55 6.8 +16.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.6 24 51 9.2 +18.4
ESGE iShares ESG Aware MSCI EM ETF 0.6 25 50 7.1 +16.4
STXE Strive Emerging Markets Ex-China ETF 0.6 32 43 7.0 +16.2
XC WisdomTree Emerging Markets Ex-China Fund 0.5 32 43 6.0 +15.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 60 10.2 +19.5
EMXC iShares MSCI Emerging Markets ex China ETF 0.5 25 50 6.7 +15.9
IXP iShares Global Comm Services ETF 0.5 42 33 5.1 +14.3
BNGE First Trust S-Network Streaming and Gaming ETF 0.5 70 5 -3.5 +5.7
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 42 8.2 +17.5
VIGI Vanguard International Dividend Appreciation ETF 0.5 15 60 6.4 +15.6
EEMA iShares MSCI Emerging Markets Asia ETF 0.4 49 26 6.5 +15.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.4 32 43 6.2 +15.4
VPL Vanguard FTSE Pacific ETF 0.4 8 67 7.7 +16.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.4 70 5 6.2 +15.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.4 30 45 7.3 +16.5
FLAX Franklin FTSE Asia Ex Japan ETF 0.4 19 56 6.9 +16.1
BKEM BNY Mellon Emerging Markets Equity ETF 0.4 11 64 8.4 +17.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.4 36 39 7.8 +17.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.4 66 9 10.0 +19.2
EEM iShares MSCI Emerging Markets ETF 0.4 69 6 6.9 +16.1
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 66 7.5 +16.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.3 41 34 7.4 +16.6
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.3 15 60 7.2 +16.5
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 0.3 75 0 4.6 +13.8
EMXF iShares ESG Advanced MSCI EM ETF 0.3 16 59 6.8 +16.1
GWX SPDR S&P International Small Cap ETF 0.3 40 35 6.5 +15.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.3 70 5 7.7 +16.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.3 59 16 11.3 +20.5
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 40 7.3 +16.5
JHEM John Hancock Multifactor Emerging Markets ETF 0.2 49 26 8.2 +17.4
AVEM Avantis Emerging Markets Equity ETF 0.2 33 42 8.9 +18.1
EQLT iShares MSCI Emerging Markets Quality Factor ETF 0.2 35 40 7.4 +16.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.2 32 43 6.9 +16.1
WRND IQ Global Equity R&D Leaders ETF 0.2 18 57 7.5 +16.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.2 45 30 11.0 +20.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.2 38 37 7.8 +17.0
HFXI IQ FTSE International Equity Currency Neutral ETF 0.2 20 55 7.1 +16.3
TPIF Timothy Plan International ETF 0.2 62 13 6.8 +16.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 72 7.2 +16.4
FNDC Schwab Fundamental International Small Co. Index ETF 0.2 39 36 7.2 +16.4
VEA Vanguard FTSE Developed Markets ETF 0.1 5 70 7.3 +16.6
VSGX Vanguard ESG International Stock ETF 0.1 12 63 6.8 +16.0
SCHF Schwab International Equity ETF 0.1 6 69 7.5 +16.7
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 45 6.9 +16.2
SCHC Schwab International Small-Cap Equity ETF 0.1 11 64 6.6 +15.8
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -14 4.9 +14.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 26 7.0 +16.2
VXUS Vanguard Total International Stock ETF 0.1 7 68 7.2 +16.4
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 68 7.2 +16.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 67 7.3 +16.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 41 7.0 +16.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 7 68 6.7 +15.9
CIL VictoryShares International Volatility Wtd ETF 0.1 45 30 7.0 +16.2
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 0.1 51 24 7.1 +16.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 34 7.4 +16.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 57 7.0 +16.2
AVES Avantis Emerging Markets Value ETF 0.1 36 39 11.6 +20.8
EMGF iShares Emerging Markets Equity Factor ETF 0.1 25 50 8.5 +17.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.1 30 45 8.1 +17.3
ARTY iShares Future AI & Tech ETF 0.1 47 28 3.8 +13.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.1 45 30 8.9 +18.2
GINN Goldman Sachs Innovate Equity ETF 0.1 52 23 2.8 +12.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 55 5.2 +14.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 66 5.4 +14.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.1 58 17 10.2 +19.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.0 30 45 8.0 +17.2
DEHP Dimensional Emerging Markets High Profitability ETF 0.0 41 34 5.0 +14.2
JPIN J.P. Morgan Diversified Return International Equity ETF 0.0 37 38 8.9 +18.1
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 50 9.9 +19.1
ACWI iShares MSCI ACWI ETF 0.0 32 43 5.3 +14.5
VT Vanguard Total World Stock ETF 0.0 7 68 5.5 +14.7
GGME Invesco Next Gen Media and Gaming ETF 0.0 60 15 3.5 +12.7
DFEV Dimensional Emerging Markets Value ETF 0.0 43 32 11.1 +20.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 63 4.8 +14.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.0 50 25 13.0 +22.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.0 24 51 8.7 +17.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 33 8.1 +17.3

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 KPOP and Korean Entertainment ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity -12.9 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 75 bp
Equals: ALTAR Score -9.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.45 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.