KraneShares Hang Seng TECH Index ETF
ALTAR
Score™		 19.2% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.0x P/Sales
ratio		 1.1x
P/BV
ratio		 1.7x Div.
yield		 0.6%


  • 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) $58
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) $113,912
Large cap (>$10bn) 89.9%
Mid cap ($2-10bn) 9.8%
Small cap (<$2bn) 0.3%
Developed mkts 27.5%
Emerging mkts 72.5%

TOP TEN HOLDINGS
XIAOMI CORP. CLASS B 11.4 %
ALIBABA GROUP HOLDING LTD. 9.8 %
TENCENT HOLDINGS LTD 9.4 %
KUAISHOU TECHNOLOGY CLASS B 8.3 %
NETEASE, INC 5.4 %
JD.COM, INC. CLASS A 5.2 %
LI AUTO, INC. CLASS A 4.8 %
XPENG, INC. CLASS A 4.7 %
MEITUAN DIANPING 3.9 %
TRIP.COM GROUP LTD. 3.7 %
Total 66.6 %

TOP COUNTRY EXPOSURE
CHINA 88.2 %
HONG KONG 5.6 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
42.2% 32.3% -- -- -5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.77 6%
MSCI EAFE 1.30 23%
MSCI Emg. Mkts. 1.90 55%

Technical Indicators
Recent close $17.72
30d moving avg. $18.36
Annualized volatility 41.0%
Short interest (ETF) 5.7%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 63
Turnover 1.9%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $4,299

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 206 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™: 19.2%


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 52.7 69 0 24.9 +5.6
FXI iShares China Large-Cap ETF 48.5 74 -5 18.5 -0.7
TCHI iShares MSCI China Multisector Tech ETF 44.5 59 10 16.4 -2.9
FDNI First Trust Dow Jones International Internet ETF 35.8 65 4 20.9 +1.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 35.8 60 9 10.5 -8.8
MCHI iShares MSCI China ETF 35.7 59 10 17.3 -1.9
FLCH Franklin FTSE China ETF 35.6 19 50 15.7 -3.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 35.2 86 -17 13.7 -5.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 33.9 32 37 15.9 -3.3
CHIQ Global X MSCI China Consumer Discretionary ETF 31.2 65 4 16.5 -2.7
CQQQ Invesco China Technology ETF 30.8 70 -1 12.3 -7.0
GXC SPDR S&P China ETF 30.8 59 10 15.2 -4.1
JCHI JPMorgan Active China ETF 30.4 65 4 14.9 -4.3
MCH Matthews China Active ETF 29.8 79 -10 14.1 -5.2
KALL KraneShares MSCI All China Index ETF 29.7 49 20 15.1 -4.2
AIA iShares Asia 50 ETF 28.3 50 19 11.9 -7.4
CGRO CoreValues Alpha Greater China Growth ETF 27.4 75 -6 4.5 -14.7
BKF iShares MSCI BIC ETF 25.8 69 0 13.6 -5.6
EMC Global X Emerging Markets Great Consumer ETF 22.3 75 -6 11.0 -8.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 22.2 20 49 10.4 -8.8
EEMO Invesco S&P Emerging Markets Momentum ETF 21.1 29 40 6.7 -12.6
LDEM iShares ESG MSCI EM Leaders ETF 18.4 17 52 13.8 -5.5
SOCL Global X Social Media ETF 17.9 65 4 9.2 -10.0
EEMA iShares MSCI Emerging Markets Asia ETF 17.6 49 20 10.0 -9.3
ECON Columbia Emerging Markets Consumer ETF 16.5 49 20 12.0 -7.3
MINV Matthews Asia Innovators Active ETF 16.3 79 -10 7.2 -12.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 16.0 70 -1 9.1 -10.1
FLAX Franklin FTSE Asia Ex Japan ETF 16.0 19 50 9.0 -10.2
GMF SPDR S&P Emerging Asia Pacific ETF 14.9 49 20 9.3 -9.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 14.7 66 3 9.2 -10.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 14.7 30 39 10.1 -9.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 14.6 33 36 9.8 -9.4
ESGE iShares ESG Aware MSCI EM ETF 14.6 25 44 9.9 -9.3
SCHE Schwab Emerging Markets Equity ETF 14.5 11 58 10.8 -8.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 14.3 15 54 10.1 -9.2
BNGE First Trust S-Network Streaming and Gaming ETF 14.2 70 -1 2.7 -16.6
EEM iShares MSCI Emerging Markets ETF 14.0 69 0 10.0 -9.2
BKEM BNY Mellon Emerging Markets Equity ETF 14.0 11 58 9.9 -9.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 13.9 36 33 9.5 -9.7
VWO Vanguard FTSE Emerging Markets ETF 13.5 7 62 10.1 -9.1
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 13.1 15 54 7.7 -11.6
FDEM Fidelity Emerging Markets Multifactor ETF 12.9 25 44 12.8 -6.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 12.9 45 24 10.1 -9.1
PXH Invesco FTSE RAFI Emerging Markets ETF 12.8 49 20 15.7 -3.5
SPEM SPDR Portfolio Emerging Markets ETF 12.1 7 62 10.4 -8.8
JHEM John Hancock Multifactor Emerging Markets ETF 12.0 49 20 10.0 -9.2
IEMG iShares Core MSCI Emerging Markets ETF 11.9 9 60 10.3 -9.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 11.9 32 37 9.0 -10.2
EMGF iShares Emerging Markets Equity Factor ETF 11.5 25 44 11.5 -7.8
KGRN KraneShares MSCI China Clean Technology Index ETF 11.3 79 -10 0.3 -18.9
MEM Matthews Emerging Markets Equity Active ETF 11.1 79 -10 7.7 -11.5
ARVR First Trust Indxx Metaverse ETF 11.0 70 -1 3.9 -15.3
DEHP Dimensional Emerging Markets High Profitability ETF 11.0 41 28 6.6 -12.6
DFAE Dimensional Emerging Core Equity Market ETF 10.5 35 34 9.2 -10.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 10.5 41 28 8.7 -10.6
MOTI VanEck Morningstar International Moat ETF 10.4 58 11 11.9 -7.3
PATN Pacer Nasdaq International Patent Leaders ETF 10.2 65 4 5.8 -13.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 10.0 39 30 16.2 -3.1
CHAT Roundhill Generative AI & Technology ETF 10.0 75 -6 8.6 -10.7
FDRV Fidelity Electric Vehicles and Future Transportation ETF 9.9 39 30 -0.9 -20.1
IVRS iShares Future Metaverse Tech and Communications ETF 9.7 47 22 2.5 -16.7
NUEM Nuveen ESG Emerging Markets Equity ETF 9.6 36 33 7.7 -11.6
ODDS Pacer BlueStar Digital Entertainment ETF 9.5 60 9 2.4 -16.9
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 9.4 75 -6 4.7 -14.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 9.1 95 -26 11.7 -7.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 8.6 59 10 8.8 -10.4
EVLU iShares MSCI Emerging Markets Value Factor ETF 8.5 35 34 17.7 -1.6
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 8.5 72 -3 -0.9 -20.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 8.2 38 31 9.2 -10.1
ESPO VanEck Video Gaming and eSports ETF 8.1 56 13 4.0 -15.3
FMET Fidelity Metaverse ETF 7.8 39 30 4.6 -14.7
RXI iShares Global Consumer Discretionary ETF 7.2 41 28 9.3 -10.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 7.1 40 29 7.0 -12.3
EMXF iShares ESG Advanced MSCI EM ETF 7.1 16 53 8.4 -10.9
IXP iShares Global Comm Services ETF 7.0 42 27 5.6 -13.7
ISHP First Trust Nasdaq Retail ETF 7.0 60 9 5.6 -13.7
FCA First Trust China AlphaDEX Fund 6.5 80 -11 8.1 -11.2
WRND IQ Global Equity R&D Leaders ETF 6.5 18 51 8.0 -11.2
FEM First Trust Emerging Markets AlphaDEX Fund 6.5 80 -11 11.5 -7.8
GGME Invesco Next Gen Media and Gaming ETF 6.5 60 9 4.3 -15.0
MOTG VanEck Morningstar Global Wide Moat ETF 6.4 52 17 7.8 -11.5
IDRV iShares Self-driving EV & Tech ETF 6.3 47 22 1.8 -17.5
OND ProShares On-Demand ETF 6.2 58 11 0.7 -18.6
IPKW Invesco International BuyBack Achievers ETF 6.2 55 14 12.8 -6.5
AVEM Avantis Emerging Markets Equity ETF 5.9 33 36 8.5 -10.7
SDG iShares MSCI Global Sustainable Development Goals ETF 5.9 49 20 5.8 -13.4
ERTH Invesco MSCI Sustainable Future ETF 5.8 62 7 3.6 -15.7
AVSE Avantis Responsible Emerging Markets Equity ETF 5.4 33 36 8.3 -10.9
ANEW ProShares MSCI Transformational Changes ETF 5.3 45 24 6.2 -13.1
METV Roundhill Ball Metaverse ETF 5.1 59 10 7.6 -11.7
JIG JPMorgan International Growth ETF 5.0 55 14 4.7 -14.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.9 30 39 9.1 -10.1
ROAM Hartford Multifactor Emerging Markets ETF 4.8 44 25 12.0 -7.2
DFEV Dimensional Emerging Markets Value ETF 4.7 43 26 13.3 -6.0
FDHT Fidelity Digital Health ETF 4.5 39 30 0.9 -18.4
GTEK Goldman Sachs Future Tech Leaders Equity ETF 4.3 75 -6 3.0 -16.3
ACWX iShares MSCI ACWI ex U.S. ETF 4.3 34 35 7.6 -11.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 4.2 41 28 7.3 -12.0
CWI SPDR MSCI ACWI ex-US ETF 4.2 30 39 7.5 -11.7
GXUS Goldman Sachs MarketBeta Total International Equity ETF 4.2 18 51 7.9 -11.3
VEU Vanguard FTSE All-World ex-US Index Fund 4.1 4 65 8.0 -11.2
AIQ Global X Artificial Intelligence & Technology ETF 4.1 68 1 3.5 -15.7
DINT Davis Select International ETF 3.9 55 14 7.9 -11.3
IVES Wedbush ETFMG Global Cloud Technology ETF 3.9 68 1 6.4 -12.8
VXUS Vanguard Total International Stock ETF 3.8 5 64 7.8 -11.4
IXUS iShares Core MSCI Total International Stock ETF 3.7 7 62 7.8 -11.5
RNEM First Trust Emerging Markets Equity Select ETF 3.6 75 -6 7.9 -11.4
DWLD Davis Select Worldwide ETF 3.5 63 6 7.2 -12.0
IBLC iShares Blockchain and Tech ETF 3.5 47 22 -2.3 -21.5
XT iShares Exponential Technologies ETF 3.4 46 23 4.7 -14.5
FPXI First Trust International Equity Opportunities ETF 3.3 70 -1 4.2 -15.1
DSTX Distillate International Fundamental Stability & Value ETF 3.1 55 14 7.8 -11.5
FLHK Franklin FTSE Hong Kong ETF 3.1 9 60 6.7 -12.5
OGIG ALPS O'Shares Global Internet Giants ETF 3.1 48 21 1.6 -17.7
VSGX Vanguard ESG International Stock ETF 3.0 10 59 7.6 -11.6
AIVC Amplify Bloomberg AI Value Chain ETF 3.0 59 10 5.0 -14.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 3.0 70 -1 13.3 -5.9
ETEC iShares Breakthrough Environmental Solutions ETF 2.9 47 22 3.3 -16.0
HTEC ROBO Global Healthcare Technology and Innovation ETF 2.8 68 1 2.4 -16.9
WUGI AXS Esoterica NextG Economy ETF 2.8 75 -6 2.3 -17.0
IBUY Amplify Online Retail ETF 2.8 65 4 0.9 -18.4
NXTG First Trust Indxx NextG ETF 2.7 70 -1 5.1 -14.2
BOTT Themes Robotics & Automation ETF 2.7 35 34 3.5 -15.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.6 50 19 11.0 -8.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.3 60 9 8.5 -10.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.2 30 39 7.8 -11.4
KOCG FIS Knights of Columbus Global Belief ETF 2.2 75 -6 5.3 -14.0
FEOE First Eagle Overseas Equity ETF 2.1 79 -10 7.8 -11.5
UMMA Wahed Dow Jones Islamic World ETF 2.1 65 4 5.2 -14.1
FDCF Fidelity Disruptive Communications ETF 2.0 50 19 2.8 -16.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.9 45 24 10.9 -8.4
CGXU Capital Group International Focus Equity ETF 1.9 54 15 5.4 -13.8
BUYZ Franklin Disruptive Commerce ETF 1.7 50 19 2.3 -16.9
KLMT Invesco MSCI Global Climate 500 ETF 1.7 10 59 5.7 -13.6
EBIZ Global X E-Commerce ETF 1.6 50 19 3.9 -15.3
HEAL Global X HealthTech ETF 1.6 50 19 -0.6 -19.8
OAIM OneAscent International Equity ETF 1.6 95 -26 5.7 -13.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.6 12 57 5.1 -14.2
GINN Goldman Sachs Innovate Equity ETF 1.6 52 17 3.6 -15.7
CLNR IQ Cleaner Transport ETF 1.5 45 24 6.7 -12.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.5 20 49 5.6 -13.7
ACWI iShares MSCI ACWI ETF 1.5 32 37 5.5 -13.8
IOO iShares Global 100 ETF 1.5 41 28 4.7 -14.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 1.4 9 60 5.6 -13.6
FEGE First Eagle Global Equity ETF 1.4 79 -10 6.8 -12.4
CGV Conductor Global Equity Value ETF 1.4 130 -61 8.4 -10.8
BWEB Bitwise Web3 ETF 1.4 85 -16 -0.2 -19.4
VT Vanguard Total World Stock ETF 1.4 6 63 5.8 -13.4
FCLD Fidelity Cloud Computing ETF 1.3 39 30 3.2 -16.0
KNCT Invesco Next Gen Connectivity ETF 1.3 40 29 4.6 -14.6
IQDF FlexShares International Quality Dividend Index Fund 1.3 47 22 9.0 -10.3
DGT SPDR Global Dow ETF 1.2 50 19 6.9 -12.4
AWAY ETFMG Travel Tech ETF 1.2 76 -7 -0.9 -20.1
CGIE Capital Group International Equity ETF 1.2 54 15 5.1 -14.2
AVES Avantis Emerging Markets Value ETF 1.2 36 33 11.1 -8.1
HERO Global X Video Games & Esports ETF 1.2 50 19 3.9 -15.3
ECNS iShares MSCI China Small-Cap ETF 1.1 59 10 8.3 -11.0
JSTC Adasina Social Justice All Cap Global ETF 1.0 89 -20 4.9 -14.4
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.0 90 -21 7.0 -12.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.0 47 22 8.3 -10.9
TTAI FCF International Quality ETF 1.0 59 10 7.4 -11.9
DRIV Global X Autonomous & Electric Vehicles ETF 0.9 68 1 4.5 -14.7
DTAN Sparkline International Intangible Value ETF 0.9 55 14 8.6 -10.6
RODE Hartford Multifactor Diversified International ETF 0.9 29 40 11.5 -7.8
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.8 65 4 7.8 -11.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.8 25 44 6.5 -12.7
INTF iShares International Equity Factor ETF 0.7 15 54 7.6 -11.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 0.7 65 4 12.1 -7.2
IXN iShares Global Tech ETF 0.6 41 28 3.5 -15.8
NBCC Neuberger Berman Next Generation Connected Consumer ETF 0.6 56 13 0.3 -19.0
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.5 65 4 1.9 -17.3
IGPT Invesco AI and Next Gen Software ETF 0.5 60 9 4.0 -15.2
GLOF iShares Global Equity Factor ETF 0.5 20 49 6.5 -12.8
JETS U.S. Global Jets ETF 0.5 60 9 2.8 -16.4
JPIN J.P. Morgan Diversified Return International Equity ETF 0.5 37 32 8.5 -10.8
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.4 42 27 9.9 -9.3
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 49 6.2 -13.1
GCOW Pacer Global Cash Cows Dividend ETF 0.4 60 9 11.2 -8.1
IGRO iShares International Dividend Growth ETF 0.2 15 54 7.3 -12.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.2 70 -1 7.8 -11.4
VPL Vanguard FTSE Pacific ETF 0.1 7 62 6.8 -12.4
VYMI Vanguard International High Dividend Yield ETF 0.1 17 52 9.6 -9.6
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 49 6.9 -12.3
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 30 5.8 -13.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 20 6.9 -12.3
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 4 7.9 -11.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.1 24 45 7.7 -11.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.1 45 24 8.8 -10.4
DFIS Dimensional International Small Cap ETF 0.1 39 30 7.3 -12.0
SCZ iShares MSCI EAFE Small-Cap ETF 0.1 40 29 6.9 -12.3
SCHF Schwab International Equity ETF 0.1 6 63 7.2 -12.0
VEA Vanguard FTSE Developed Markets ETF 0.1 3 66 7.2 -12.1
BKIE BNY Mellon International Equity ETF 0.0 4 65 7.0 -12.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 49 6.9 -12.4
IQSI IQ Candriam International Equity ETF 0.0 15 54 6.6 -12.6
AVSD Avantis Responsible International Equity ETF 0.0 23 46 5.6 -13.6
AVDE Avantis International Equity ETF 0.0 23 46 7.3 -11.9
IPAC iShares Core MSCI Pacific ETF 0.0 9 60 6.4 -12.9
DFIC Dimensional International Core Equity 2 ETF 0.0 23 46 7.4 -11.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 30 7.9 -11.4
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 45 6.3 -12.9
DFAI Dimensional International Core Equity Market ETF 0.0 18 51 7.1 -12.1
IDEV iShares Core MSCI International Developed Markets ETF 0.0 4 65 6.9 -12.3
IEFA iShares Core MSCI EAFE ETF 0.0 7 62 7.0 -12.3
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 66 6.9 -12.3
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 27 5.3 -13.9

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 28.0 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 19.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.41 CATEGORY
AVERAGE		 1.51
 
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.