KPOP and Korean Entertainment ETF
ALTAR
Score™		 -9.2% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 31.8x P/Sales
ratio		 0.9x
P/BV
ratio		 1.5x Div.
yield		 0.6%


  • 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) $3
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) $4,853
Large cap (>$10bn) 23.0%
Mid cap ($2-10bn) 12.1%
Small cap (<$2bn) 64.9%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
DAUM COMMUNICATIONS CORP 10.1 %
NHN CORP 9.4 %
S.M.ENTERTAINMENT CO 9.3 %
BIG HIT ENTERTAINMENT CO., LTD. 8.9 %
JYP ENTERTAINMENT CORP 7.9 %
AFREECATV CO., LTD. 7.7 %
CJ O SHOPPING CO LTD 5.9 %
CJ CGV CO LTD 5.5 %
STUDIO DRAGON CORP. 4.6 %
YG ENTERTAINMENT INC 4.6 %
Total 74.0 %

TOP COUNTRY EXPOSURE
SOUTH KOREA 82.3 %










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.
-12.4% -14.6% -- -- -9.0%

Market Correlations
versus... Beta R-squared
S&P500 1.10 29%
MSCI EAFE 1.39 46%
MSCI Emg. Mkts. 1.41 58%

Technical Indicators
Recent close $15.26
30d moving avg. $18.02
Annualized volatility 30.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.6%
Bid/Ask (% of price) 1.24%
ADV underlying (mns) $372

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 107 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 12.8 65 10 -5.8 +3.3
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 10.1 86 -11 2.0 +11.2
FLKR Franklin FTSE South Korea ETF 4.8 9 66 9.5 +18.7
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 4.8 60 15 1.0 +10.2
EWY iShares MSCI South Korea ETF 4.0 58 17 8.7 +17.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 3.6 86 -11 2.1 +11.3
CHAT Roundhill Generative AI & Technology ETF 3.5 75 0 4.2 +13.3
FDNI First Trust Dow Jones International Internet ETF 3.3 65 10 3.0 +12.1
KOIN Capital Link Global Fintech Leaders ETF 2.7 75 0 4.7 +13.8
FMET Fidelity Metaverse ETF 2.0 39 36 4.4 +13.6
EMM Global X Emerging Markets ex-China ETF 1.9 75 0 3.7 +12.9
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 1.8 18 57 8.0 +17.1
EMC Global X Emerging Markets Great Consumer ETF 1.7 75 0 5.0 +14.1
WTAI WisdomTree Artificial Intelligence and Innovation Fund 1.6 45 30 1.4 +10.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.5 60 15 10.0 +19.2
METV Roundhill Ball Metaverse ETF 1.5 59 16 3.4 +12.5
MINV Matthews Asia Innovators Active ETF 1.4 79 -4 2.9 +12.1
ISHP First Trust Nasdaq Retail ETF 1.3 60 15 3.2 +12.4
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.2 75 0 3.2 +12.4
NUEM Nuveen ESG Emerging Markets Equity ETF 1.1 36 39 6.9 +16.1
XCEM Columbia EM Core ex-China ETF 1.1 16 59 7.4 +16.6
FRDM Freedom 100 Emerging Markets ETF 1.0 49 26 7.4 +16.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.9 32 43 6.4 +15.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.9 20 55 7.7 +16.8
LDEM iShares ESG MSCI EM Leaders ETF 0.9 17 58 7.9 +17.1
AIA iShares Asia 50 ETF 0.8 50 25 7.1 +16.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.8 24 51 7.2 +16.4
ESGE iShares ESG Aware MSCI EM ETF 0.8 25 50 7.8 +17.0
XC WisdomTree Emerging Markets Ex-China Fund 0.8 32 43 6.2 +15.4
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.7 65 10 1.6 +10.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.7 15 60 7.2 +16.4
EMDM First Trust Bloomberg Emerging Market Democracies ETF 0.7 75 0 9.8 +19.0
BTEK Future Tech ETF 0.7 88 -13 2.1 +11.3
STXE Strive Emerging Markets Ex-China ETF 0.6 32 43 7.0 +16.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.6 33 42 7.3 +16.5
EEMA iShares MSCI Emerging Markets Asia ETF 0.6 49 26 6.8 +16.0
EMXC iShares MSCI Emerging Markets ex China ETF 0.6 25 50 6.7 +15.9
FLAX Franklin FTSE Asia Ex Japan ETF 0.6 19 56 7.3 +16.5
UMMA Wahed Dow Jones Islamic World ETF 0.6 65 10 4.4 +13.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.5 70 5 6.5 +15.6
VIGI Vanguard International Dividend Appreciation ETF 0.5 15 60 5.6 +14.8
IXP iShares Global Comm Services ETF 0.5 42 33 5.2 +14.4
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 64 7.8 +17.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 39 7.6 +16.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.5 66 9 7.4 +16.5
VPL Vanguard FTSE Pacific ETF 0.5 8 67 7.0 +16.1
BNGE First Trust S-Network Streaming and Gaming ETF 0.5 70 5 -1.1 +8.1
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 0.5 75 0 5.3 +14.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.5 30 45 7.6 +16.8
EMXF iShares ESG Advanced MSCI EM ETF 0.4 16 59 7.6 +16.8
TPIF Timothy Plan International ETF 0.4 62 13 6.8 +16.0
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 66 7.7 +16.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.4 70 5 7.3 +16.5
EEM iShares MSCI Emerging Markets ETF 0.4 69 6 7.1 +16.3
JHEM John Hancock Multifactor Emerging Markets ETF 0.3 49 26 8.5 +17.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.3 32 43 7.7 +16.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.3 41 34 7.9 +17.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.3 59 16 9.7 +18.9
AVEM Avantis Emerging Markets Equity ETF 0.3 33 42 9.3 +18.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.3 88 -13 6.3 +15.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.3 45 30 8.7 +17.9
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 40 7.8 +17.0
JSTC Adasina Social Justice All Cap Global ETF 0.3 89 -14 4.8 +14.0
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 0.2 51 24 6.9 +16.1
CIL VictoryShares International Volatility Wtd ETF 0.2 45 30 7.0 +16.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.2 38 37 8.4 +17.5
HFXI IQ FTSE International Equity Currency Neutral ETF 0.2 20 55 6.9 +16.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.2 50 25 10.7 +19.8
VEA Vanguard FTSE Developed Markets ETF 0.2 5 70 7.1 +16.3
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 72 7.0 +16.2
SCHF Schwab International Equity ETF 0.2 6 69 7.1 +16.3
FNDC Schwab Fundamental International Small Co. Index ETF 0.2 39 36 6.9 +16.1
EMGF iShares Emerging Markets Equity Factor ETF 0.2 25 50 8.8 +18.0
SCHC Schwab International Small-Cap Equity ETF 0.2 11 64 6.5 +15.6
VSGX Vanguard ESG International Stock ETF 0.2 12 63 6.9 +16.1
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 45 6.9 +16.1
WRND IQ Global Equity R&D Leaders ETF 0.2 18 57 7.2 +16.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.1 80 -5 11.1 +20.3
GWX SPDR S&P International Small Cap ETF 0.1 40 35 6.6 +15.8
TTAI FCF International Quality ETF 0.1 59 16 7.4 +16.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 34 6.8 +15.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 26 6.7 +15.9
VXUS Vanguard 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
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 68 7.0 +16.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 7 68 6.6 +15.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 41 6.8 +16.0
QINT American Century Quality Diversified International ETF 0.1 39 36 7.5 +16.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 55 5.7 +14.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.1 30 45 8.7 +17.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.1 58 17 10.2 +19.3
GINN Goldman Sachs Innovate Equity ETF 0.1 52 23 2.7 +11.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.1 45 30 8.6 +17.8
AVES Avantis Emerging Markets Value ETF 0.1 36 39 12.3 +21.4
DEHP Dimensional Emerging Markets High Profitability ETF 0.1 41 34 7.4 +16.6
IMFL Invesco International Developed Dynamic Multifactor ETF 0.1 34 41 10.7 +19.9
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 66 5.8 +15.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 45 7.9 +17.0
VT Vanguard Total World Stock ETF 0.0 7 68 5.9 +15.1
ACWI iShares MSCI ACWI ETF 0.0 32 43 5.5 +14.7
DFEV Dimensional Emerging Markets Value ETF 0.0 43 32 11.1 +20.3
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 50 9.2 +18.4
IDHQ Invesco S&P International Developed High Quality ETF 0.0 29 46 5.9 +15.0
JPIN J.P. Morgan Diversified Return International Equity ETF 0.0 37 38 8.8 +18.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 63 5.1 +14.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.0 24 51 8.7 +17.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 33 6.9 +16.0

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

  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

Content on this tab for subscribers only

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 -12.8 %
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		 1.31 CATEGORY
AVERAGE		 1.39
 
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.