ETFMG Alternative Harvest ETF
ALTAR
Score™
-6.2% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-9.4x P/Sales
ratio
0.6x
P/BV
ratio
1.3x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The ETFMG Alternative Harvest ETF tracks a market-cap-weighted index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products.lf

FUND BASICS
Category US Equities
Fund Sponsor ETF Managers Group
Website www.etfmj.com
Inception date Dec 03, 2015
Assets (mns) $461
Currency USD
Expense ratio 75 bp
Distributions Quarterly

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 35
Wgt avg mkt cap (mns) $10,215
Large cap (>$10bn) 14.0%
Mid cap ($2-10bn) 26.4%
Small cap (<$2bn) 59.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CRONOS GROUP INC 9.8 %
GW PHARMACEUTICALS PLC SPONSORED A 8.7 %
CANOPY GROWTH CORPORATION 8.0 %
AURORA CANNABIS INC. 4.7 %
ORGANIGRAM HOLDINGS INC 4.3 %
APHRIA INC 4.1 %
CORBUS PHARMACEUTICALS HOLDINGS IN 4.0 %
TILRAY, INC. 4.0 %
SWEDISH MATCH AB 3.2 %
HEXO CORPORATION 3.1 %
Total 53.9 %

TOP COUNTRY EXPOSURE
CANADA 45.9 %
UNITED STATES 31.7 %
BRITAIN 14.0 %
SWEDEN 3.2 %
JAPAN 2.8 %






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.
-32.8% -67.2% -- -- -35.7%

Market Correlations
versus... Beta R-squared
S&P500 1.76 40%
MSCI EAFE 1.59 29%
MSCI Emg. Mkts. 1.27 26%

Technical Indicators
Recent close $10.96
30d moving avg. $11.87
Annualized volatility 49.8%
Short interest (ETF) 8.7%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 1,061
Turnover 2.5%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $2,070

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the ETFMG Alternative Harvest ETF ETF based on the alternatives' overlap in portfolio holdings with MJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MJ Expense: 75 bp ALTAR Score™: -6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MJ
Ticker Fund
Name
Overlap1
vs MJ
(%)
Expense
ratio
(bp)
Savings
vs MJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs MJ
(%)
THCX The Cannabis ETF 56.4 70 5 -12.0 -5.9
POTX Global X Cannabis ETF 56.3 50 25 -45.2 -39.0
TOKE Cambria Cannabis ETF 52.1 42 33 -5.6 +0.5
CNBS Amplify Seymour Cannabis ETF 48.1 75 0 -13.9 -7.8
YOLO AdvisorShares Pure Cannabis ETF 35.0 74 1 -22.6 -16.4
ACT AdvisorShares Vice ETF 15.3 99 -24 6.9 +13.0
PEY Invesco High Yield Equity Dividend Achievers ETF 10.7 53 22 9.5 +15.6
KXI iShares Global Consumer Staples ETF 9.4 46 29 5.7 +11.8
JOYY Infusive Compounding Global Equities ETF 9.0 50 25 4.8 +11.0
FDVV Fidelity Core Dividend ETF 8.6 29 46 9.3 +15.4
DIV Global X SuperDividend US ETF 8.4 45 30 14.7 +20.8
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 7.6 30 45 16.3 +22.4
GCOW Pacer Global High Dividend ETF 6.1 60 15 12.6 +18.8
IDOG ALPS International Sector Dividend Dogs ETF 6.0 50 25 13.1 +19.3
IECS iShares Evolved U.S. Consumer Staples ETF 5.7 18 57 6.1 +12.2
VDC Vanguard Consumer Staples Index Fund 5.7 10 65 5.7 +11.9
DOO WisdomTree International Dividend ex-Financials Fund 5.7 58 17 10.7 +16.9
FSTA Fidelity MSCI Consumer Staples Index ETF 5.6 8 67 5.7 +11.8
DHS WisdomTree U.S. High Dividend Fund 5.5 38 37 10.0 +16.1
GBDV Global Beta Smart Income ETF 5.5 29 46 15.6 +21.8
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 5.5 30 45 11.3 +17.4
FDL First Trust Morningstar Dividend Leaders Index Fund 5.5 45 30 10.5 +16.6
DURA VanEck Vectors Morningstar Durable Dividend ETF 5.5 29 46 8.0 +14.1
IYK iShares U.S. Consumer Goods ETF 5.5 42 33 6.5 +12.7
JHMS John Hancock Multifactor Consumer Staples ETF 5.5 40 35 6.3 +12.5
XLP Consumer Staples Select Sector SPDR Fund 5.5 13 62 5.7 +11.8
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 5.3 40 35 6.6 +12.7
DEW WisdomTree Global High Dividend Fund 5.2 58 17 11.0 +17.2
PSCC Invesco S&P SmallCap Consumer Staples ETF 5.2 29 46 6.3 +12.5
MOAT VanEck Vectors Morningstar Wide Moat ETF 4.9 49 26 7.6 +13.7
LVHI Legg Mason International Low Volatility High Dividend ETF 4.6 40 35 11.5 +17.6
KSCD KFA Small Cap Quality Dividend Index ETF 4.5 51 24 7.1 +13.3
WDIV SPDR Global Dividend ETF 4.5 40 35 12.2 +18.4
SPDV AAM S&P 500 High Dividend Value ETF 4.4 29 46 13.7 +19.8
MOTI VanEck Vectors Morningstar International Moat ETF 4.3 57 18 10.2 +16.3
IVLU iShares Edge MSCI Intl Value Factor ETF 4.2 30 45 13.7 +19.9
DMDV AAM S&P Developed Markets High Dividend Value ETF 4.2 39 36 13.4 +19.6
DTH WisdomTree DEFA Equity Income Fund 4.2 58 17 12.0 +18.2
SDOG ALPS Sector Dividend Dogs ETF 4.0 40 35 13.1 +19.2
DTN WisdomTree U.S. Dividend ex-Financials Fund 3.9 38 37 9.6 +15.8
FCPI Fidelity Stocks for Inflation ETF 3.9 29 46 8.6 +14.8
DVY iShares Select Dividend ETF 3.8 39 36 10.1 +16.3
EWU iShares MSCI United Kingdom ETF 3.8 50 25 8.4 +14.6
QGBR SPDR MSCI UK StrategicFactors ETF 3.8 14 61 9.1 +15.3
FLGB Franklin FTSE United Kingdom ETF 3.7 9 66 9.0 +15.2
BBC Virtus LifeSci Biotech Clinical Trials ETF 3.6 79 -4 0.0 +6.2
OUSA O'Shares FTSE US Quality Dividend ETF 3.4 48 27 6.6 +12.8
FDRR Fidelity Dividend ETF for Rising Rates 3.4 29 46 9.2 +15.4
JKF iShares Morningstar Large Cap Value ETF 3.4 25 50 9.1 +15.3
WLDR Affinity World Leaders Equity ETF 3.3 47 28 11.8 +18.0
SMDV ProShares Russell 2000 Dividend Growers ETF 3.3 40 35 8.0 +14.2
SPYD SPDR S&P 500 High Dividend ETF 3.3 7 68 13.4 +19.5
CID Victory CEMP Intl High Dividend Volatility Wtd Index ETF 3.2 45 30 14.3 +20.5
EWD iShares MSCI Sweden ETF 3.2 55 20 14.9 +21.1
CSB Victory CEMP US Small Cap High Dividend Volatility Wtd Idx E 3.2 35 40 11.9 +18.1
QDYN FlexShares Quality Dividend Dynamic Index Fund 3.1 37 38 8.6 +14.8
PBE Invesco Dynamic Biotechnology & Genome ETF 3.1 57 18 -1.0 +5.1
QDEF FlexShares Quality Dividend Defensive Index Fund 3.1 37 38 7.5 +13.7
DLN WisdomTree U.S. LargeCap Dividend Fund 3.0 28 47 7.6 +13.8
DOL WisdomTree International LargeCap Dividend Fund 3.0 48 27 10.4 +16.5
GOAT VanEck Vectors Morningstar Global Wide Moat ETF 3.0 52 23 6.6 +12.7
FIVA Fidelity International Value Factor ETF 2.9 39 36 12.7 +18.9
SDIV Global X SuperDividend ETF 2.9 58 17 23.8 +29.9
DVOP Source Dividend Opportunity ETF 2.9 50 25 10.8 +17.0
SYE SPDR MFS Systematic Core Equity ETF 2.9 60 15 8.0 +14.1
TTFS AdvisorShares Wilshire Buyback ETF 2.9 91 -16 7.6 +13.7
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.9 47 28 16.8 +22.9
DXJ WisdomTree Japan Hedged Equity Fund 2.8 48 27 10.6 +16.8
RNDM Developed International Equity Select ETF 2.8 65 10 7.9 +14.1
PLCY EventShares U.S. Legislative Opportunities ETF 2.8 75 0 5.1 +11.3
OEUR O'shares FTSE Europe Quality Dividend ETF 2.8 48 27 7.5 +13.7
FXZ First Trust Materials AlphaDEX Fund 2.7 65 10 9.8 +16.0
SOIL Global X Fertilizers/Potash ETF 2.7 69 6 6.9 +13.1
SBIO ALPS Medical Breakthroughs ETF 2.7 50 25 -1.3 +4.9
DGRW WisdomTree U.S. Quality Dividend Growth Fund 2.7 28 47 7.8 +14.0
IDV iShares International Select Dividend ETF 2.7 49 26 14.7 +20.8
DNL WisdomTree Global ex-US Dividend Growth Fund 2.7 58 17 9.2 +15.4
IQDG WisdomTree International Quality Dividend Growth Fund 2.7 38 37 7.7 +13.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 2.7 58 17 7.5 +13.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 2.7 58 17 7.5 +13.7
SYV SPDR MFS Systematic Value Equity ETF 2.7 60 15 9.2 +15.4
IDY Pacific Global International Equity Income ETF 2.7 39 36 10.6 +16.8
SCHD Schwab U.S. Dividend Equity ETF 2.7 6 69 8.8 +14.9
FGD First Trust Dow Jones Global Select Dividend Index Fund 2.6 58 17 13.0 +19.1
DTD WisdomTree U.S.Total Dividend Fund 2.6 28 47 8.1 +14.2
QVAL Alpha Architect U.S. Quantitative Value ETF 2.6 49 26 16.4 +22.6
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 2.6 75 0 6.9 +13.1
SYG SPDR MFS Systematic Growth Equity ETF 2.6 60 15 6.0 +12.1
ROGS Hartford Multifactor Global Small Cap ETF 2.6 34 41 11.0 +17.2
VALX Validea Market Legends ETF 2.6 79 -4 17.6 +23.8
PSCM Invesco S&P SmallCap Materials ETF 2.6 29 46 12.7 +18.9
PSL Invesco DWA Consumer Staples Momentum ETF 2.5 60 15 4.6 +10.8
PFM Invesco Dividend Achievers ETF 2.4 54 21 6.1 +12.3
VYM Vanguard High Dividend Yield Index ETF 2.3 6 69 8.5 +14.6
EFV iShares MSCI EAFE Value ETF 2.3 39 36 12.1 +18.3
USDY Pacific Global US Equity Income ETF 2.3 29 46 10.0 +16.2
MTUM iShares Edge MSCI USA Momentum Factor ETF 2.2 15 60 5.8 +12.0
DWM WisdomTree International Equity Fund 2.2 48 27 10.3 +16.4
QDF FlexShares Quality Dividend Index Fund 2.2 37 38 8.4 +14.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.2 35 40 10.6 +16.7

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:
ETFMG Alternative Harvest 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 -7.2 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 75 bp
Equals: ALTAR Score -6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 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.