ETF Research Center

Fount Metaverse ETF

ALTAR
Score™

0.0%

Recommen-
dation

AVOID

2022E 2023E
P/E ratio	0.0x	P/Sales ratio	0.0x
P/BV ratio	0.0x	Div. yield	0.0%

Description
Performance
Comps
Fundamentals
Valuation
Rating

MTVR tracks a modified market-cap-weighted index of globally-listed companies involved in the future iteration of the internetthe metaverse.

FUND BASICS
Category	Global Equities
Fund Sponsor	Exchange Traded Concepts
Website	bigcle.shop/product/mtvr
Inception date	Oct 27, 2021
Assets (mns)	$0
Currency	USD
Expense ratio	70 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	51
Wgt avg mkt cap (mns)	$510,094
Large cap (>$10bn)	62.3%
Mid cap ($2-10bn)	27.7%
Small cap (<$2bn)	6.9%
Developed mkts	83.5%
Emerging mkts	16.1%

TOP TEN HOLDINGS
Total	41.4 %
APPLE INC	13.3 %
META PLATFORMS INC	6.1 %
ALPHABET INC. CLASS A	4.3 %
ADOBE SYSTEMS INC	3.3 %
PINTEREST, INC. CLASS A	2.5 %
ORIENTAL LAND CO LTD	2.5 %
CAPCOM CO LTD	2.5 %
ROBLOX CORP. CLASS A	2.4 %
ACTIVISION BLIZZARD INC	2.4 %
TAKE-TWO INTERACTIVE SOFTWRE	2.2 %

TOP COUNTRY EXPOSURE
	UNITED STATES	50.5 %
	JAPAN	16.1 %
	SOUTH KOREA	9.9 %
	CHINA	8.4 %
	NETHERLANDS	3.6 %
	SWEDEN	2.7 %
	AUSTRALIA	1.9 %
	ISRAEL	1.5 %
	FRANCE	1.1 %
	CYPRUS	1.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru August 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
22.1%	9.9%	--	--	-15.7%

Market Correlations
versus...	Beta	R-squared
S&P500	1.02	78%
MSCI EAFE	1.04	77%
MSCI Emg. Mkts.	0.87	59%

Technical Indicators
Recent close	$0.00
30d moving avg.	$0.00
Annualized volatility	23.3%
Short interest (ETF)	0.0%
Relative strength (RSI)

Liquidity measures
Avg. volume (thou.)	4
Turnover	1.6%
Bid/Ask (% of price)	0.59%
ADV underlying (mns)	$36,200

Distributions

There were no matches found with other funds under coverage.

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RESULTS & ESTIMATES

	2017	2018	2019	2020	2021	2022E	2023E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

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

Historical valuation trends

Forward multiple:	Fount Metaverse 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	13.4	%
Divided by: Fwd. P/BV	0.0	x
Less: Expense ratio	70	bp
Equals: ALTAR Score	0.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.35	CATEGORY AVERAGE	1.47

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.