Nationwide Maximum Diversification Emerging Mkts Core Eq
ALTAR
Score™
5.3% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
20.2x P/Sales
ratio
1.3x
P/BV
ratio
1.6x Div.
yield
2.2%


  • 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) $15
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) $18,201
Large cap (>$10bn) 43.3%
Mid cap ($2-10bn) 48.5%
Small cap (<$2bn) 7.6%
Developed mkts 10.7%
Emerging mkts 89.3%

TOP TEN HOLDINGS
ANGLOGOLD ASHANTI LTD 1.7 %
TAIWAN SEMICONDUCTOR MANUFAC 1.5 %
LI NING CO LTD 1.4 %
GOLD FIELDS LTD 1.3 %
SUN PHARMACEUTICAL INDUS 1.2 %
HINDUSTAN UNILEVER LIMITED 1.1 %
INFOSYS TECHNOLOGIES LTD 1.1 %
RELIANCE INDUSTRIES LTD 1.1 %
CP ALL PCL-FOREIGN 1.0 %
SUZANO PAPEL E CELULOSE SA 1.0 %
Total 12.4 %

TOP COUNTRY EXPOSURE
INDIA 20.8 %
CHINA 15.6 %
TAIWAN 13.5 %
SOUTH KOREA 8.7 %
HONG KONG 6.7 %
THAILAND 6.6 %
BRAZIL 5.2 %
MALAYSIA 4.4 %
SOUTH AFRICA 3.8 %
MEXICO 2.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.3% -7.1% -- -- -9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.89 70%
MSCI EAFE 1.05 81%
MSCI Emg. Mkts. 0.91 88%

Technical Indicators
Recent close $20.81
30d moving avg. $19.01
Annualized volatility 20.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $10,024

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.3%


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 31.8 55 9 8.9 +3.6
EEMA iShares MSCI Emerging Markets Asia ETF 30.6 50 14 8.5 +3.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 29.1 45 19 8.8 +3.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 28.1 30 34 9.5 +4.1
EEM iShares MSCI Emerging Markets ETF 28.1 68 -4 8.3 +3.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 27.9 30 34 8.9 +3.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 27.0 68 -4 8.0 +2.7
FLAX Franklin FTSE Asia Ex Japan ETF 26.9 19 45 8.6 +3.2
SCHE Schwab Emerging Markets Equity ETF 26.5 13 51 8.7 +3.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 26.4 65 -1 8.4 +3.1
IEMG iShares Core MSCI Emerging Markets ETF 26.3 14 50 8.8 +3.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 25.7 32 32 6.9 +1.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 25.7 49 15 8.4 +3.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 25.1 25 39 8.5 +3.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 25.1 50 14 9.9 +4.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 25.0 45 19 9.0 +3.7
DVEM WisdomTree Emerging Markets Dividend Fund 24.9 32 32 9.2 +3.9
VWO Vanguard FTSE Emerging Markets ETF 24.1 10 54 8.9 +3.6
GMF SPDR S&P Emerging Asia Pacific ETF 23.1 49 15 8.0 +2.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 22.7 49 15 9.1 +3.7
EMMF WisdomTree Emerging Markets Multifactor Fund 22.7 48 16 9.9 +4.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 22.5 20 44 7.7 +2.4
FDEM Fidelity Targeted Emerging Markets Factor ETF 22.4 45 19 9.8 +4.5
BKF iShares MSCI BRIC ETF 22.0 69 -5 8.5 +3.2
ESGE iShares ESG MSCI EM ETF 21.3 25 39 9.8 +4.4
EMCG WisdomTree Emerging Markets Consumer Growth Fund 21.2 32 32 7.9 +2.6
SPEM SPDR Portfolio Emerging Markets ETF 21.2 11 53 8.7 +3.3
EMXC iShares MSCI Emerging Markets ex China ETF 21.1 49 15 8.5 +3.2
PXH Invesco FTSE RAFI Emerging Markets ETF 21.0 50 14 13.8 +8.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 20.3 32 32 9.6 +4.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 19.9 14 50 9.6 +4.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 19.5 59 5 11.2 +5.8
EEMO Invesco S&P Emerging Markets Momentum ETF 19.1 30 34 7.3 +1.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 18.8 39 25 13.2 +7.9
AVEM Avantis Emerging Markets Equity ETF 18.5 33 31 9.6 +4.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 18.1 40 24 7.9 +2.6
RNEM Emerging Markets Equity Select ETF 18.0 75 -11 10.6 +5.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 17.9 29 35 9.9 +4.6
FLIN Franklin FTSE India ETF 17.2 19 45 6.4 +1.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 17.0 45 19 10.0 +4.7
ROAM Hartford Multifactor Emerging Markets ETF 16.7 44 20 15.1 +9.8
PIE Invesco DWA Emerging Markets Momentum ETF 16.5 90 -26 5.7 +0.4
EPI WisdomTree India Earnings Fund 16.2 85 -21 9.8 +4.5
PIN Invesco India ETF 16.0 82 -18 6.4 +1.1
AXJL WisdomTree Asia Pacific ex-Japan Fund 15.7 48 16 10.0 +4.7
NUEM Nuveen ESG Emerging Markets Equity ETF 15.1 45 19 7.9 +2.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 14.9 95 -31 10.2 +4.9
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 14.8 58 6 5.6 +0.2
INDA iShares MSCI India ETF 14.6 69 -5 6.0 +0.7
XCEM Columbia EM Core ex-China ETF 13.3 16 48 7.9 +2.6
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.3 45 19 13.5 +8.2
FEM First Trust Emerging Markets AlphaDEX Fund 12.9 80 -16 11.7 +6.4
ISEM Invesco Strategic Emerging Markets ETF 12.5 35 29 10.4 +5.1
MCHI iShares MSCI China ETF 12.3 59 5 9.1 +3.8
NFTY First Trust India NIFTY 50 Equal Weight ETF 11.6 80 -16 8.7 +3.4
INDY iShares India 50 ETF 11.4 94 -30 6.3 +1.0
GXC SPDR S&P China ETF 11.3 59 5 9.0 +3.6
FLCH Franklin FTSE China ETF 11.2 19 45 9.3 +4.0
EWT iShares MSCI Taiwan ETF 11.2 59 5 6.5 +1.2
FLTW Franklin FTSE Taiwan ETF 10.8 19 45 6.8 +1.5
BICK First Trust BICK Index Fund 10.7 64 0 4.5 -0.8
CN Xtrackers MSCI All China Equity ETF 10.2 50 14 9.4 +4.0
ECON Columbia Emerging Markets Consumer ETF 10.2 59 5 4.9 -0.4
KALL KraneShares FTSE Emerging Markets Plus ETF 9.8 49 15 9.1 +3.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 9.1 32 32 7.0 +1.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 9.0 60 4 8.6 +3.3
DEM WisdomTree Emerging Markets High Dividend Fund 9.0 63 1 14.2 +8.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 9.0 40 24 7.5 +2.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 8.9 16 48 7.2 +1.9
VSGX Vanguard ESG International Stock ETF 8.2 17 47 7.5 +2.2
IXUS ishares Core MSCI Total International Stock ETF 8.2 9 55 7.7 +2.4
EWY iShares MSCI South Korea ETF 8.0 59 5 9.3 +3.9
VXUS Vanguard Total International Stock Index Fund 8.0 8 56 7.8 +2.5
FLLA Franklin FTSE Latin America ETF 7.9 19 45 7.2 +1.8
AIA iShares Asia 50 ETF 7.8 50 14 9.1 +3.8
ACWX iShares MSCI ACWI ex U.S. ETF 7.6 32 32 7.6 +2.3
FLKR Franklin FTSE South Korea ETF 7.5 9 55 9.9 +4.6
VEU Vanguard FTSE All-World ex-US Index Fund 7.5 8 56 7.9 +2.5
WCHN WisdomTree ICBCCS S&P China 500 Fund 7.4 55 9 9.2 +3.9
FRDM Freedom 100 Emerging Markets ETF 7.2 49 15 7.5 +2.2
EDIV SPDR S&P Emerging Markets Dividend ETF 7.0 49 15 11.6 +6.3
KMED KraneShares Emerging Markets Healthcare Index ETF 6.9 79 -15 2.5 -2.9
ACWV iShares Edge MSCI Min Vol Global ETF 6.8 20 44 5.9 +0.5
EMFM Global X MSCI Next Emerging & Frontier ETF 6.6 55 9 8.8 +3.5
DNL WisdomTree Global ex-US Dividend Growth Fund 6.4 58 6 8.0 +2.7
CWI SPDR MSCI ACWI ex-US ETF 6.4 30 34 7.8 +2.4
VYMI Vanguard International High Dividend Yield ETF 6.2 32 32 10.4 +5.1
DOGS Arrow Dogs of the World ETF 6.1 134 -70 11.5 +6.2
CHIQ Global X China Consumer ETF 5.7 65 -1 9.4 +4.1
ACWF iShares FactorSelect MSCI Global ETF 5.6 35 29 8.2 +2.9
VIGI Vanguard International Dividend Appreciation ETF 5.5 25 39 6.0 +0.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 5.5 29 35 12.4 +7.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.4 70 -6 13.1 +7.7
VIDI Vident International Equity Fund 5.4 59 5 11.6 +6.3
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 5.2 20 44 11.1 +5.8
CHIL Global X MSCI China Large-Cap 50 ETF 5.2 29 35 9.6 +4.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 5.2 86 -22 2.4 -3.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 5.2 69 -5 7.6 +2.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 5.2 80 -16 8.2 +2.9
FLN First Trust Latin America AlphaDEX Fund 5.1 80 -16 8.4 +3.1

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 9.4 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 64 bp
Equals: ALTAR Score 5.3 %
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.