KraneShares Hang Seng TECH Index ETF
ALTAR
Score™		 -3.6% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 14.8x P/Sales
ratio		 1.1x
P/BV
ratio		 2.1x Div.
yield		 0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KTEC tracks a market-cap-weighted index of the 30 largest Chinese technology companies.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor CICC
Website kraneshares.com
Inception date Jun 09, 2021
Assets (mns) $14
Currency USD
Expense ratio 69 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $106,034
Large cap (>$10bn) 83.7%
Mid cap ($2-10bn) 15.6%
Small cap (<$2bn) 0.7%
Developed mkts 30.5%
Emerging mkts 69.5%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. 8.8 %
MEITUAN DIANPING 8.7 %
TENCENT HOLDINGS LTD 8.7 %
XIAOMI CORP. CLASS B 8.5 %
JD.COM, INC. CLASS A 8.1 %
KUAISHOU TECHNOLOGY CLASS B 7.1 %
NETEASE, INC 6.5 %
LI AUTO, INC. CLASS A 6.5 %
LENOVO GROUP LTD 5.3 %
HAIER SMART HOME CO., LTD. CLASS H 4.1 %
Total 72.2 %

TOP COUNTRY EXPOSURE
CHINA 91.9 %
HONG KONG 6.6 %









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.
15.3% 17.1% -- -- -17.0%

Market Correlations
versus... Beta R-squared
S&P500 0.54 5%
MSCI EAFE 1.01 17%
MSCI Emg. Mkts. 1.96 60%

Technical Indicators
Recent close $13.37
30d moving avg. $14.11
Annualized volatility 44.0%
Short interest (ETF) 2.2%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 18
Turnover 1.7%
Bid/Ask (% of price) 0.48%
ADV underlying (mns) $4,198

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 200 potential alternatives to the KraneShares Hang Seng TECH Index ETF ETF based on the alternatives' overlap in portfolio holdings with KTEC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KTEC Expense: 69 bp ALTAR Score™: -3.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KTEC
Ticker Fund
Name		 Overlap1
vs KTEC
(%)		 Expense
ratio
(bp)		 Savings
vs KTEC
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KTEC
(%)
KWEB KraneShares CSI China Internet ETF 56.1 69 0 -1.4 +2.3
FXI iShares China Large-Cap ETF 49.7 74 -5 8.2 +11.8
TCHI iShares MSCI China Multisector Tech ETF 42.8 59 10 1.9 +5.5
FDNI First Trust Dow Jones International Internet ETF 36.8 65 4 2.1 +5.7
CHIQ Global X MSCI China Consumer Discretionary ETF 35.4 65 4 5.9 +9.5
CQQQ Invesco China Technology ETF 35.3 70 -1 -7.9 -4.3
MCHI iShares MSCI China ETF 35.1 59 10 8.4 +12.0
CXSE WisdomTree China ex-State-Owned Enterprises Fund 34.7 32 37 6.1 +9.7
CGRO CoreValues Alpha Greater China Growth ETF 32.2 75 -6 2.0 +5.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 32.0 60 9 0.5 +4.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 30.9 86 -17 1.6 +5.3
FLCH Franklin FTSE China ETF 30.6 19 50 8.8 +12.4
GXC SPDR S&P China ETF 29.7 59 10 8.3 +11.9
MCH Matthews China Active ETF 28.5 79 -10 5.4 +9.0
JCHI JPMorgan Active China ETF 28.0 65 4 8.0 +11.6
AIA iShares Asia 50 ETF 26.3 50 19 6.6 +10.2
KALL KraneShares MSCI All China Index ETF 24.9 49 20 9.0 +12.6
BKF iShares MSCI BIC ETF 21.2 69 0 6.9 +10.5
SOCL Global X Social Media ETF 15.8 65 4 -6.4 -2.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 14.6 20 49 6.8 +10.4
LDEM iShares ESG MSCI EM Leaders ETF 14.6 17 52 7.6 +11.3
IVRS iShares Future Metaverse Tech and Communications ETF 14.0 47 22 -4.9 -1.3
EEMA iShares MSCI Emerging Markets Asia ETF 14.0 49 20 6.5 +10.1
PXH Invesco FTSE RAFI Emerging Markets ETF 12.9 49 20 12.2 +15.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 12.8 70 -1 6.2 +9.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 12.5 30 39 7.3 +10.9
SCHE Schwab Emerging Markets Equity ETF 12.1 11 58 7.1 +10.7
GMF SPDR S&P Emerging Asia Pacific ETF 12.0 49 20 6.1 +9.7
OND ProShares On-Demand ETF 11.6 58 11 -2.2 +1.5
ESGE iShares ESG Aware MSCI EM ETF 11.6 25 44 7.1 +10.7
KFVG KraneShares CICC China 5G & Semiconductor Index ETF 11.5 65 4 3.9 +7.5
MINV Matthews Asia Innovators Active ETF 11.3 79 -10 3.0 +6.6
EEM iShares MSCI Emerging Markets ETF 11.1 69 0 6.9 +10.5
KGRN KraneShares MSCI China Clean Technology Index ETF 10.9 79 -10 5.6 +9.3
MEM Matthews Emerging Markets Equity Active ETF 10.8 79 -10 5.4 +9.0
EQLT iShares MSCI Emerging Markets Quality Factor ETF 10.6 35 34 7.4 +11.0
ARVR First Trust Indxx Metaverse ETF 10.6 70 -1 0.8 +4.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 10.4 32 37 6.2 +9.8
FLAX Franklin FTSE Asia Ex Japan ETF 10.3 19 50 6.9 +10.5
VWO Vanguard FTSE Emerging Markets ETF 10.2 8 61 6.9 +10.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 10.1 33 36 8.2 +11.8
EMGF iShares Emerging Markets Equity Factor ETF 9.7 25 44 8.5 +12.1
SPEM SPDR Portfolio Emerging Markets ETF 9.7 7 62 7.3 +10.9
IEMG iShares Core MSCI Emerging Markets ETF 9.6 9 60 7.5 +11.1
ODDS Pacer BlueStar Digital Entertainment ETF 9.4 60 9 2.3 +5.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 9.4 66 3 10.0 +13.6
PATN Pacer Nasdaq International Patent Leaders ETF 9.2 65 4 6.5 +10.1
NUEM Nuveen ESG Emerging Markets Equity ETF 9.1 36 33 6.5 +10.1
DFAE Dimensional Emerging Core Equity Market ETF 9.1 35 34 7.3 +10.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 9.1 15 54 7.2 +10.9
ESPO VanEck Video Gaming and eSports ETF 9.0 56 13 3.5 +7.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 8.9 39 30 12.5 +16.1
BKEM BNY Mellon Emerging Markets Equity ETF 8.6 11 58 8.4 +12.0
DSTX Distillate International Fundamental Stability & Value ETF 8.6 55 14 8.0 +11.6
ECON Columbia Emerging Markets Consumer ETF 8.5 49 20 7.3 +10.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 8.5 41 28 7.4 +11.0
DEHP Dimensional Emerging Markets High Profitability ETF 8.4 41 28 5.0 +8.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 8.4 15 54 10.2 +13.8
EMC Global X Emerging Markets Great Consumer ETF 8.3 75 -6 4.5 +8.1
FDEM Fidelity Emerging Markets Multifactor ETF 8.3 25 44 12.3 +15.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 8.1 36 33 7.8 +11.4
IDRV iShares Self-driving EV & Tech ETF 8.0 47 22 -0.4 +3.2
EMXF iShares ESG Advanced MSCI EM ETF 7.9 16 53 6.8 +10.4
EVLU iShares MSCI Emerging Markets Value Factor ETF 7.8 35 34 12.4 +16.0
FMET Fidelity Metaverse ETF 7.8 39 30 5.4 +9.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 7.7 45 24 11.0 +14.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 7.7 95 -26 10.5 +14.1
JHEM John Hancock Multifactor Emerging Markets ETF 7.4 49 20 8.2 +11.8
BNGE First Trust S-Network Streaming and Gaming ETF 7.1 70 -1 -3.5 +0.1
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 7.0 72 -3 1.0 +4.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 6.9 38 31 7.8 +11.4
ETEC iShares Breakthrough Environmental Solutions ETF 6.6 47 22 8.0 +11.6
RXI iShares Global Consumer Discretionary ETF 6.5 41 28 5.4 +9.0
DINT Davis Select International ETF 6.5 55 14 6.0 +9.6
IXP iShares Global Comm Services ETF 6.2 42 27 5.1 +8.7
CHAT Roundhill Generative AI & Technology ETF 6.1 75 -6 3.8 +7.5
SDG iShares MSCI Global Sustainable Development Goals ETF 5.9 49 20 5.6 +9.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 5.9 59 10 11.3 +14.9
FEM First Trust Emerging Markets AlphaDEX Fund 5.8 80 -11 13.0 +16.7
MOTI VanEck Morningstar International Moat ETF 5.6 58 11 5.9 +9.5
ERTH Invesco MSCI Sustainable Future ETF 5.1 62 7 3.6 +7.2
GBUY Goldman Sachs Future Consumer Equity ETF 5.0 75 -6 3.3 +7.0
DWLD Davis Select Worldwide ETF 5.0 63 6 6.7 +10.3
AIQ Global X Artificial Intelligence & Technology ETF 5.0 68 1 4.0 +7.6
GGME Invesco Next Gen Media and Gaming ETF 4.8 60 9 3.5 +7.1
EMFQ Amplify Emerging Markets FinTech ETF 4.8 69 0 5.3 +8.9
WRND IQ Global Equity R&D Leaders ETF 4.6 18 51 7.5 +11.1
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 4.6 18 51 6.8 +10.4
FDRV Fidelity Electric Vehicles and Future Transportation ETF 4.5 39 30 -1.7 +1.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.5 40 29 8.3 +11.9
ANEW ProShares MSCI Transformational Changes ETF 4.5 45 24 3.6 +7.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 4.2 70 -1 9.2 +12.8
IPKW Invesco International BuyBack Achievers ETF 4.2 55 14 11.0 +14.6
ISHP First Trust Nasdaq Retail ETF 4.2 60 9 2.9 +6.5
METV Roundhill Ball Metaverse ETF 4.1 59 10 3.4 +7.0
MRAD SmartETFs Advertising & Marketing Technology ETF 4.1 68 1 5.5 +9.1
JIG JPMorgan International Growth ETF 3.9 55 14 4.6 +8.3
AIVC Amplify Bloomberg AI Value Chain ETF 3.9 59 10 5.8 +9.5
AVEM Avantis Emerging Markets Equity ETF 3.8 33 36 8.9 +12.5
IVES Wedbush ETFMG Global Cloud Technology ETF 3.8 68 1 5.8 +9.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.4 30 39 8.1 +11.7
ACWX iShares MSCI ACWI ex U.S. ETF 3.4 34 35 7.0 +10.6
DFEV Dimensional Emerging Markets Value ETF 3.3 43 26 11.1 +14.7
EDOC Global X Telemedicine & Digital Health ETF Registered 3.3 68 1 -4.1 -0.4
CWI SPDR MSCI ACWI ex-US ETF 3.3 30 39 6.9 +10.6
VEU Vanguard FTSE All-World ex-US Index Fund 3.2 8 61 7.3 +10.9
MOTG VanEck Morningstar Global Wide Moat ETF 3.2 52 17 5.6 +9.2
NXTG First Trust Indxx NextG ETF 3.2 70 -1 6.2 +9.8
WISE Themes Generative Artificial Intelligence ETF 3.2 35 34 0.5 +4.1
FCA First Trust China AlphaDEX Fund 3.1 80 -11 16.2 +19.8
VXUS Vanguard Total International Stock ETF 2.9 7 62 7.2 +10.8
IXUS iShares Core MSCI Total International Stock ETF 2.9 7 62 7.2 +10.8
IBUY Amplify Online Retail ETF 2.9 65 4 1.4 +5.0
FLHK Franklin FTSE Hong Kong ETF 2.9 9 60 6.8 +10.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.8 42 27 8.1 +11.7
ROAM Hartford Multifactor Emerging Markets ETF 2.8 44 25 15.8 +19.4
RNEM First Trust Emerging Markets Equity Select ETF 2.8 75 -6 7.6 +11.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.7 18 51 7.0 +10.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.7 41 28 7.4 +11.0
IBLC iShares Blockchain and Tech ETF 2.6 47 22 -1.7 +2.0
WUGI AXS Esoterica NextG Economy ETF 2.5 75 -6 2.5 +6.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.5 50 19 13.0 +16.6
VSGX Vanguard ESG International Stock ETF 2.4 12 57 6.8 +10.4
IQDE FlexShares International Quality Dividend Defensive Index ET 2.4 47 22 14.8 +18.4
UMMA Wahed Dow Jones Islamic World ETF 2.1 65 4 4.6 +8.2
GTEK Goldman Sachs Future Tech Leaders Equity ETF 2.0 75 -6 2.9 +6.5
OGIG ALPS O'Shares Global Internet Giants ETF 2.0 48 21 1.9 +5.5
KOCG FIS Knights of Columbus Global Belief ETF 1.9 75 -6 5.0 +8.6
CGXU Capital Group International Focus Equity ETF 1.9 54 15 4.9 +8.5
FDHT Fidelity Digital Health ETF 1.8 39 30 -2.3 +1.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.8 60 9 9.8 +13.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.8 30 39 8.0 +11.6
FDCF Fidelity Disruptive Communications ETF 1.6 50 19 2.6 +6.2
ECNS iShares MSCI China Small-Cap ETF 1.5 59 10 14.2 +17.8
KLMT Invesco MSCI Global Climate 500 ETF 1.5 10 59 5.4 +9.0
BWEB Bitwise Web3 ETF 1.4 85 -16 0.7 +4.3
AVES Avantis Emerging Markets Value ETF 1.4 36 33 11.6 +15.2
EBIZ Global X E-Commerce ETF 1.3 50 19 2.1 +5.7
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.3 61 8 1.2 +4.8
OAIM OneAscent International Equity ETF 1.2 95 -26 5.1 +8.7
VIDI Vident International Equity Strategy ETF 1.2 61 8 10.2 +13.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.2 12 57 4.8 +8.4
ACWI iShares MSCI ACWI ETF 1.1 32 37 5.3 +8.9
IOO iShares Global 100 ETF 1.1 41 28 4.8 +8.4
CGIE Capital Group International Equity ETF 1.1 54 15 4.9 +8.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 1.1 9 60 5.4 +9.0
HTEC ROBO Global Healthcare Technology and Innovation ETF 1.1 68 1 -0.1 +3.5
AWAY ETFMG Travel Tech ETF 1.1 76 -7 -5.2 -1.6
BUYZ Franklin Disruptive Commerce ETF 1.1 50 19 1.8 +5.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.1 20 49 5.2 +8.8
VT Vanguard Total World Stock ETF 1.0 7 62 5.5 +9.1
XT iShares Exponential Technologies ETF 1.0 46 23 4.8 +8.4
GINN Goldman Sachs Innovate Equity ETF 1.0 52 17 2.8 +6.4
MVPS Amplify Thematic All-Stars ETF 1.0 49 20 2.7 +6.3
DTAN Sparkline International Intangible Value ETF 0.9 55 14 9.2 +12.8
DGT SPDR Global Dow ETF 0.9 50 19 6.8 +10.4
KNCT Invesco Next Gen Connectivity ETF 0.9 40 29 5.6 +9.2
RODE Hartford Multifactor Diversified International ETF 0.9 29 40 11.8 +15.4
LUXX Roundhill S&P Global Luxury ETF 0.9 45 24 2.9 +6.5
FCLD Fidelity Cloud Computing ETF 0.8 39 30 3.1 +6.7
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 0.8 75 -6 4.6 +8.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 22 9.4 +13.0
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.8 65 4 8.2 +11.8
CLNR IQ Cleaner Transport ETF 0.8 45 24 6.8 +10.4
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.7 61 8 -2.4 +1.2
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 22 12.9 +16.5
NBCC Neuberger Berman Next Generation Connected Consumer ETF 0.7 56 13 1.1 +4.7
BIGFX Baron International Growth Retail 0.7 75 -6 3.1 +6.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.7 45 24 12.3 +15.9
TTAI FCF International Quality ETF 0.6 59 10 5.6 +9.2
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.6 80 -11 12.3 +15.9
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.5 25 44 6.6 +10.3
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 49 6.3 +10.0
IGPT Invesco AI and Next Gen Software ETF 0.5 60 9 3.8 +7.4
QINT American Century Quality Diversified International ETF 0.5 39 30 7.7 +11.3
JETS U.S. Global Jets ETF 0.5 60 9 -13.3 -9.7
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.4 65 4 0.2 +3.9
JPIN J.P. Morgan Diversified Return International Equity ETF 0.4 37 32 8.9 +12.5
IXN iShares Global Tech ETF 0.3 41 28 4.5 +8.1
JSTC Adasina Social Justice All Cap Global ETF 0.3 89 -20 4.9 +8.5
GLOF iShares Global Equity Factor ETF 0.3 20 49 7.0 +10.6
IGRO iShares International Dividend Growth ETF 0.3 15 54 7.5 +11.2
FPAG FPA Global Equity ETF 0.3 49 20 5.4 +9.0
OCEN IQ Clean Oceans ETF 0.3 45 24 6.1 +9.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.2 70 -1 7.7 +11.3
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 4 8.2 +11.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.2 45 24 8.9 +12.6
VYMI Vanguard International High Dividend Yield ETF 0.1 22 47 9.8 +13.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.1 44 25 10.6 +14.2
VPL Vanguard FTSE Pacific ETF 0.1 8 61 7.7 +11.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.1 24 45 8.7 +12.3
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 49 7.1 +10.7
SCHF Schwab International Equity ETF 0.1 6 63 7.5 +11.1
IQSI IQ Candriam International Equity ETF 0.1 15 54 6.6 +10.2
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 44 9.9 +13.5
VEA Vanguard FTSE Developed Markets ETF 0.0 5 64 7.3 +10.9
BKIE BNY Mellon International Equity ETF 0.0 4 65 7.1 +10.7
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 49 7.0 +10.6
INTF iShares International Equity Factor ETF 0.0 15 54 8.2 +11.8
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 30 7.2 +10.8

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:		 KraneShares Hang Seng TECH Index 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 -5.4 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 69 bp
Equals: ALTAR Score -3.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.35 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.