Nationwide Maximum Diversification Emerging Mkts Core Eq
ALTAR
Score™
4.6% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
22.4x P/Sales
ratio
1.6x
P/BV
ratio
2.1x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
MXDE tracks an index of emerging-market companies, excluding those with business practices that contradict certain socially responsible investment values. The fund is optimized to maximize a proprietary measure of diversification.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Nationwide Fund Advisors
Website nationwidefinancial.com
Inception date Mar 26, 2018
Assets (mns) $17
Currency USD
Expense ratio 64 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 300
Wgt avg mkt cap (mns) $25,754
Large cap (>$10bn) 53.3%
Mid cap ($2-10bn) 40.1%
Small cap (<$2bn) 5.0%
Developed mkts 10.5%
Emerging mkts 89.6%

TOP TEN HOLDINGS
NIO INC. SPONSORED ADR CLASS A 1.9 %
GOLD FIELDS LTD 1.9 %
ANGLOGOLD ASHANTI LTD 1.9 %
TAIWAN SEMICONDUCTOR MANUFAC 1.9 %
TOP GLOVE CORP BHD 1.5 %
RELIANCE INDUSTRIES LTD 1.3 %
LI NING CO LTD 1.2 %
SUN PHARMACEUTICAL INDUS 1.1 %
INFOSYS TECHNOLOGIES LTD 1.1 %
HARTALEGA HOLDINGS BHD 1.1 %
Total 14.9 %

TOP COUNTRY EXPOSURE
INDIA 19.4 %
CHINA 19.1 %
TAIWAN 12.5 %
SOUTH KOREA 8.9 %
MALAYSIA 5.9 %
HONG KONG 5.8 %
THAILAND 4.7 %
SOUTH AFRICA 4.5 %
BRAZIL 4.5 %
MEXICO 2.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.1% 7.4% -- -- -2.5%

Market Correlations
versus... Beta R-squared
S&P500 0.93 68%
MSCI EAFE 1.09 78%
MSCI Emg. Mkts. 0.92 89%

Technical Indicators
Recent close $23.66
30d moving avg. $23.19
Annualized volatility 21.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $16,194

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Nationwide Maximum Diversification Emerging Mkts Core Eq ETF based on the alternatives' overlap in portfolio holdings with MXDE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MXDE Expense: 64 bp ALTAR Score™: 4.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MXDE
Ticker Fund
Name
Overlap1
vs MXDE
(%)
Expense
ratio
(bp)
Savings
vs MXDE
(bp)
ALTAR
Score™
(%)
ALTAR
vs MXDE
(%)
JHEM John Hancock Multifactor Emerging Markets ETF 31.6 49 15 8.3 +3.7
EEMA iShares MSCI Emerging Markets Asia ETF 31.0 50 14 7.4 +2.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 29.6 45 19 7.8 +3.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 29.3 30 34 7.7 +3.2
EEM iShares MSCI Emerging Markets ETF 28.9 68 -4 7.3 +2.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 27.9 68 -4 7.0 +2.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 27.6 36 28 8.0 +3.5
FLAX Franklin FTSE Asia Ex Japan ETF 27.5 19 45 7.6 +3.1
SCHE Schwab Emerging Markets Equity ETF 27.3 11 53 7.9 +3.3
IEMG iShares Core MSCI Emerging Markets ETF 27.0 13 51 7.8 +3.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 26.7 65 -1 7.3 +2.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 26.7 30 34 8.6 +4.0
ESGE iShares ESG MSCI EM ETF 26.1 25 39 8.5 +3.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 26.1 32 32 6.1 +1.6
DVEM WisdomTree Emerging Markets Dividend Fund 25.8 32 32 8.1 +3.6
VWO Vanguard FTSE Emerging Markets ETF 25.4 10 54 8.0 +3.4
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 25.0 25 39 7.7 +3.1
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 24.4 50 14 10.3 +5.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 24.0 49 15 7.6 +3.0
GMF SPDR S&P Emerging Asia Pacific ETF 23.8 49 15 7.2 +2.7
BKF iShares MSCI BRIC ETF 23.7 69 -5 7.4 +2.8
BKEM BNY Mellon Emerging Markets Equity ETF 23.4 11 53 8.4 +3.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 23.2 49 15 7.6 +3.1
SPEM SPDR Portfolio Emerging Markets ETF 23.1 11 53 7.8 +3.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 23.1 44 20 8.9 +4.3
PXH Invesco FTSE RAFI Emerging Markets ETF 22.9 50 14 13.2 +8.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 22.5 20 44 6.7 +2.1
EMMF WisdomTree Emerging Markets Multifactor Fund 22.1 48 16 9.3 +4.8
FDEM Fidelity Targeted Emerging Markets Factor ETF 21.5 45 19 9.3 +4.8
PBEE Invesco PureBeta FTSE Emerging Markets ETF 21.0 15 49 8.6 +4.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 20.9 39 25 12.6 +8.1
EEMO Invesco S&P Emerging Markets Momentum ETF 20.3 29 35 6.4 +1.8
EMXC iShares MSCI Emerging Markets ex China ETF 19.9 25 39 7.9 +3.4
AVEM Avantis Emerging Markets Equity ETF 19.8 33 31 8.7 +4.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 19.5 45 19 8.8 +4.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 19.4 59 5 10.8 +6.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 19.4 32 32 8.9 +4.3
PIE Invesco DWA Emerging Markets Momentum ETF 17.8 90 -26 4.6 +0.1
RNEM Emerging Markets Equity Select ETF 17.2 75 -11 11.4 +6.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 16.1 40 24 7.2 +2.6
FLIN Franklin FTSE India ETF 16.0 19 45 5.3 +0.8
ROAM Hartford Multifactor Emerging Markets ETF 15.8 44 20 14.4 +9.9
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 15.8 45 19 13.2 +8.6
NUEM Nuveen ESG Emerging Markets Equity ETF 15.3 45 19 7.0 +2.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 15.2 95 -31 9.2 +4.7
EPI WisdomTree India Earnings Fund 15.0 85 -21 8.1 +3.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 14.9 29 35 9.8 +5.3
PIN Invesco India ETF 14.9 78 -14 5.4 +0.8
FEM First Trust Emerging Markets AlphaDEX Fund 14.3 80 -16 12.9 +8.4
MCHI iShares MSCI China ETF 14.2 59 5 7.8 +3.2
INDA iShares MSCI India ETF 14.1 69 -5 4.9 +0.4
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 13.7 58 6 4.6 +0.1
BICK First Trust BICK Index Fund 13.4 64 0 4.3 -0.2
GXC SPDR S&P China ETF 13.2 59 5 8.0 +3.4
FLCH Franklin FTSE China ETF 13.0 19 45 8.3 +3.8
ISEM Invesco Strategic Emerging Markets ETF 12.8 35 29 10.2 +5.7
XCEM Columbia EM Core ex-China ETF 12.3 16 48 7.0 +2.5
KALL KraneShares FTSE Emerging Markets Plus ETF 12.1 49 15 8.1 +3.5
CN Xtrackers MSCI All China Equity ETF 11.8 50 14 8.1 +3.6
NFTY First Trust India NIFTY 50 Equal Weight ETF 10.9 80 -16 7.3 +2.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 10.8 40 24 6.9 +2.3
INDY iShares India 50 ETF 10.8 94 -30 5.3 +0.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 10.7 32 32 6.1 +1.5
KMED KraneShares Emerging Markets Healthcare Index ETF 10.7 79 -15 2.0 -2.6
FLTW Franklin FTSE Taiwan ETF 10.7 19 45 6.1 +1.6
VSGX Vanguard ESG International Stock ETF 10.6 17 47 7.0 +2.5
EWT iShares MSCI Taiwan ETF 10.6 59 5 5.7 +1.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 10.2 16 48 6.8 +2.3
ECON Columbia Emerging Markets Consumer ETF 10.0 59 5 4.5 -0.1
IXUS ishares Core MSCI Total International Stock ETF 9.9 9 55 7.3 +2.7
VXUS Vanguard Total International Stock Index Fund 9.6 8 56 7.4 +2.9
ACWX iShares MSCI ACWI ex U.S. ETF 9.1 32 32 7.1 +2.6
VEU Vanguard FTSE All-World ex-US Index Fund 8.8 8 56 7.4 +2.9
DEM WisdomTree Emerging Markets High Dividend Fund 8.6 63 1 14.0 +9.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 8.6 60 4 8.5 +3.9
AIA iShares Asia 50 ETF 8.2 50 14 7.9 +3.4
CWI SPDR MSCI ACWI ex-US ETF 7.8 30 34 7.1 +2.5
VYMI Vanguard International High Dividend Yield ETF 7.8 32 32 9.9 +5.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 7.7 86 -22 2.1 -2.4
CHIQ Global X China Consumer ETF 7.5 65 -1 7.0 +2.5
EWY iShares MSCI South Korea ETF 7.3 59 5 8.0 +3.4
FLKR Franklin FTSE South Korea ETF 6.7 9 55 8.4 +3.9
FRDM Freedom 100 Emerging Markets ETF 6.6 49 15 6.5 +2.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 6.6 58 6 7.7 +3.2
ACWV iShares Edge MSCI Min Vol Global ETF 6.5 20 44 5.5 +1.0
CHIL Global X MSCI China Large-Cap 50 ETF 6.5 29 35 8.3 +3.7
VIGI Vanguard International Dividend Appreciation ETF 6.4 25 39 5.5 +1.0
FLLA Franklin FTSE Latin America ETF 6.4 19 45 6.6 +2.0
KWEB KraneShares CSI China Internet ETF 6.0 76 -12 1.8 -2.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 5.9 80 -16 3.8 -0.7
FNI First Trust Chindia ETF 5.9 60 4 2.6 -2.0
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 5.9 80 -16 7.3 +2.7
EDIV SPDR S&P Emerging Markets Dividend ETF 5.6 49 15 11.3 +6.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 5.5 69 -5 7.6 +3.1
FKO First Trust South Korea AlphadDEX Fund 5.5 80 -16 9.1 +4.6
ACWF iShares FactorSelect MSCI Global ETF 5.3 35 29 7.6 +3.1
FCA First Trust China AlphaDEX Fund 5.1 80 -16 13.5 +9.0
EMFM Global X MSCI Next Emerging & Frontier ETF 5.1 66 -2 9.0 +4.5
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 5.1 20 44 10.8 +6.3

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:
Nationwide Maximum Diversification Emerging Mkts Core Eq
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 10.5 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 64 bp
Equals: ALTAR Score 4.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.45
 
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.