Global X MSCI Norway ETF
ALTAR
Score™		 7.6% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 11.0x P/Sales
ratio		 1.2x
P/BV
ratio		 1.6x Div.
yield		 6.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X MSCI Norway 30 ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the MSCI Norway IMI 25/50 Index.

FUND BASICS
Category International Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Nov 09, 2010
Assets (mns) $49
Currency USD
Expense ratio 50 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 69
Wgt avg mkt cap (mns) $21,887
Large cap (>$10bn) 47.2%
Mid cap ($2-10bn) 35.8%
Small cap (<$2bn) 16.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
STATOILHYDRO ASA 15.0 %
DNB BANK ASA 10.9 %
NORSK HYDRO ASA 5.2 %
DET NORSKE OLJESELSKAP ASA 5.0 %
MARINE HARVEST 4.8 %
TELENOR ASA 4.3 %
KONGSBERG GRUPPEN ASA 3.7 %
YARA INTERNATIONAL ASA 3.1 %
ORKLA ASA 2.8 %
SALMAR ASA 2.4 %
Total 57.2 %

TOP COUNTRY EXPOSURE
NORWAY 86.3 %
BERMUDA 6.3 %
BRITAIN 2.3 %
SINGAPORE 2.0 %
FAROE ISLANDS 1.9 %
DENMARK 0.5 %





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.
-6.6% 3.5% 2.7% 0.5% 2.7%

Market Correlations
versus... Beta R-squared
S&P500 0.93 55%
MSCI EAFE 1.05 65%
MSCI Emg. Mkts. 0.77 38%

Technical Indicators
Recent close $24.55
30d moving avg. $24.10
Annualized volatility 22.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 30
Turnover 1.5%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $513

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 221 potential alternatives to the Global X MSCI Norway ETF ETF based on the alternatives' overlap in portfolio holdings with NORW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NORW Expense: 50 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NORW
Ticker Fund
Name		 Overlap1
vs NORW
(%)		 Expense
ratio
(bp)		 Savings
vs NORW
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs NORW
(%)
ENOR iShares MSCI Norway ETF 93.9 53 -3 7.7 +0.1
EFAS Global X MSCI SuperDividend EAFE ETF 8.7 57 -7 9.7 +2.2
MOO VanEck Agribusiness ETF 6.5 53 -3 9.4 +1.8
IDOG ALPS International Sector Dividend Dogs ETF 6.1 50 0 11.6 +4.0
IVEG iShares Emergent Food and AgTech Multisector ETF 5.7 47 3 8.2 +0.7
FIDI Fidelity International High Dividend ETF 4.9 18 32 10.1 +2.5
VIDI Vident International Equity Strategy ETF 4.8 61 -11 11.9 +4.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 4.7 46 4 8.9 +1.3
VEGI iShares MSCI Agriculture Producers ETF 4.7 39 11 9.2 +1.6
BOAT SonicShares Global Shipping ETF 4.6 69 -19 29.3 +21.8
FEP First Trust Europe AlphaDEX Fund 4.5 80 -30 8.6 +1.1
IEUS iShares MSCI Europe Small-Cap ETF 4.1 42 8 0.0 -7.6
FDD First Trust Stoxx European Select Dividend Index Fund 3.9 58 -8 12.9 +5.4
DFE WisdomTree Europe SmallCap Dividend Fund 3.6 58 -8 10.9 +3.3
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 3.2 80 -30 11.0 +3.4
DINT Davis Select International ETF 3.2 55 -5 4.7 -2.8
VWID Virtus WMC International Dividend ETF 3.0 49 1 9.4 +1.8
DLS WisdomTree International SmallCap Dividend Fund 3.0 58 -8 8.7 +1.2
AZTD Aztlan Global Stock Selection DM SMID ETF 3.0 75 -25 6.6 -1.0
DMDV AAM S&P Developed Markets High Dividend Value ETF 3.0 39 11 12.6 +5.0
CID VictoryShares International High Div Volatility Wtd ETF 2.9 45 5 9.5 +1.9
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.9 70 -20 4.5 -3.0
FYLD Cambria Foreign Shareholder Yield ETF 2.8 59 -9 11.9 +4.4
DWMF WisdomTree International Multifactor Fund 2.8 38 12 7.3 -0.3
ESGN Columbia International ESG Equity Income ETF 2.5 45 5 9.0 +1.4
SAGP Strategas Global Policy Opportunities ETF 2.4 65 -15 4.5 -3.1
BECO BlackRock Future Climate and Sustainable Economy ETF 2.4 70 -20 13.7 +6.2
SDIV Global X Superdividend ETF 2.4 58 -8 17.6 +10.0
SEA U.S. Global Sea to Sky Cargo ETF 2.3 60 -10 24.1 +16.5
PBD Invesco Global Clean Energy ETF 2.2 75 -25 -3.8 -11.4
EUDV ProShares MSCI Europe Dividend Growers ETF 2.2 55 -5 4.9 -2.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.2 49 1 6.7 -0.9
AVDV Avantis International Small Cap Value ETF 2.1 36 14 7.9 +0.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.1 80 -30 10.7 +3.1
DTH WisdomTree International High Dividend Fund 2.1 58 -8 10.1 +2.6
DIM WisdomTree International MidCap Dividend Fund 2.0 58 -8 7.6 +0.0
SCZ iShares MSCI EAFE Small-Cap ETF 2.0 40 10 0.0 -7.6
DFNL Davis Select Financial ETF 2.0 63 -13 6.8 -0.8
SCHC Schwab International Small-Cap Equity ETF 2.0 11 39 6.4 -1.2
DSTX Distillate International Fundamental Stability & Value ETF 2.0 55 -5 8.0 +0.4
NUDM Nuveen ESG International Developed Markets Equity ETF 2.0 31 19 6.4 -1.2
FTRI First Trust Indxx Global Natural Resources Income ETF 1.9 70 -20 10.7 +3.1
GNR SPDR S&P Global Natural Resources ETF 1.8 40 10 9.3 +1.7
IDLV Invesco S&P International Developed Low Volatility ETF 1.8 25 25 5.8 -1.7
ARB AltShares Merger Arbitrage ETF 1.7 77 -27 -0.2 -7.7
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.6 47 3 10.2 +2.7
JHID John Hancock International High Dividend ETF 1.6 46 4 11.4 +3.8
DWM WisdomTree International Equity Fund 1.6 48 2 7.8 +0.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 1.6 40 10 7.8 +0.2
QINT American Century Quality Diversified International ETF 1.5 39 11 7.4 -0.2
RODE Hartford Multifactor Diversified International ETF 1.5 29 21 11.5 +4.0
GWX SPDR S&P International Small Cap ETF 1.5 40 10 6.6 -1.0
FNDC Schwab Fundamental International Small Co. Index ETF 1.4 39 11 6.8 -0.7
ISZE iShares MSCI Intl Size Factor ETF 1.4 30 20 6.5 -1.0
AHOY Newday Ocean Health ETF 1.4 75 -25 5.6 -2.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 1.4 65 -15 12.7 +5.2
RFEU First Trust Riverfront Dynamic Europe ETF 1.4 83 -33 8.8 +1.2
TPIF Timothy Plan International ETF 1.3 62 -12 6.7 -0.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.3 7 43 6.5 -1.1
IEUR iShares Core MSCI Europe ETF 1.3 11 39 -1.3 -8.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 21 8.7 +1.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 0 5.1 -2.5
IQDE FlexShares International Quality Dividend Defensive Index ET 1.3 47 3 10.7 +3.1
ERTH Invesco MSCI Sustainable Future ETF 1.3 62 -12 3.7 -3.9
IVAL Alpha Architect International Quantitative Value ETF 1.3 49 1 5.7 -1.9
SPEU SPDR Portfolio Europe ETF 1.3 7 43 6.5 -1.0
DOL WisdomTree International LargeCap Dividend Fund 1.2 48 2 7.7 +0.2
VGK Vanguard FTSE Europe ETF 1.2 11 39 6.8 -0.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 1.2 25 25 7.3 -0.2
IXC iShares Global Energy ETF 1.2 44 6 8.3 +0.7
IQLT iShares MSCI Intl Quality Factor ETF 1.2 30 20 5.7 -1.9
JPIN J.P. Morgan Diversified Return International Equity ETF 1.2 37 13 8.7 +1.1
HAP VanEck Natural Resources ETF 1.2 50 0 9.5 +2.0
FILL iShares MSCI Global Energy Producers ETF 1.2 39 11 9.0 +1.5
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 3 10.7 +3.1
EFV iShares MSCI EAFE Value ETF 1.1 34 16 9.1 +1.5
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 1.1 51 -1 6.8 -0.8
CIL VictoryShares International Volatility Wtd ETF 1.1 45 5 6.8 -0.7
RAYD Rayliant Quantitative Developed Market Equity ETF 1.1 80 -30 4.5 -3.1
ESGD iShares ESG Aware MSCI EAFE ETF 1.1 20 30 6.3 -1.3
KLDW Knowledge Leaders Developed World ETF 1.1 75 -25 4.9 -2.7
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.1 20 30 6.9 -0.7
IDV iShares International Select Dividend ETF 1.1 51 -1 12.3 +4.7
EUFN iShares MSCI Europe Financials ETF 1.1 51 -1 8.1 +0.5
DIVI Franklin International Core Dividend Tilt Index ETF 1.0 9 41 8.0 +0.5
SYNB Putnam BioRevolution ETF 1.0 70 -20 2.9 -4.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.0 14 36 6.2 -1.4
IQIN IQ 500 International ETF 1.0 25 25 8.7 +1.2
GDVD R3 Global Dividend Growth ETF 1.0 88 -38 5.8 -1.8
BBEU JPMorgan BetaBuilders Europe ETF 1.0 9 41 6.7 -0.9
IMFL Invesco International Developed Dynamic Multifactor ETF 1.0 34 16 10.6 +3.0
SDG iShares MSCI Global Sustainable Development Goals ETF 1.0 49 1 5.8 -1.8
FLEE Franklin FTSE Europe ETF 1.0 9 41 6.8 -0.8
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.9 80 -30 5.4 -2.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.9 39 11 7.3 -0.3
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.9 47 3 9.7 +2.1
INTF iShares International Equity Factor ETF 0.9 15 35 7.8 +0.2
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -33 9.0 +1.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.9 46 4 6.3 -1.3
FDEV Fidelity International Multifactor ETF 0.9 18 32 7.5 -0.1
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.9 80 -30 5.6 -1.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.9 58 -8 6.0 -1.6
DKRB Subversive Decarbonization ETF 0.9 75 -25 0.0 -7.6
FID First Trust S&P International Dividend Aristocrats ETF 0.9 60 -10 9.9 +2.3
AIVI WisdomTree International AI Enhanced Value Fund 0.9 58 -8 8.0 +0.4
DFIV Dimensional International Value ETF 0.9 27 23 9.8 +2.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.8 24 26 8.5 +0.9
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.8 35 15 6.4 -1.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.8 39 11 7.6 +0.0
IEV iShares Europe ETF 0.8 67 -17 6.1 -1.5
IEFA iShares Core MSCI EAFE ETF 0.8 7 43 2.7 -4.9
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.8 9 41 9.8 +2.2
WWJD Inspire International ETF 0.8 80 -30 7.1 -0.5
VYMI Vanguard International High Dividend Yield ETF 0.8 22 28 9.7 +2.1
DIHP Dimensional International High Profitability ETF 0.8 29 21 6.9 -0.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.8 45 5 8.5 +0.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.8 58 -8 5.5 -2.1
PICK iShares MSCI Global Metals & Mining Producers ETF 0.8 39 11 11.0 +3.5
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 0.8 61 -11 -4.0 -11.6
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.8 61 -11 -12.9 -20.5
IDHQ Invesco S&P International Developed High Quality ETF 0.7 29 21 5.7 -1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.7 25 25 7.4 -0.2
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 46 6.7 -0.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.7 20 30 6.6 -0.9
IQSI IQ Candriam International Equity ETF 0.7 15 35 6.4 -1.2
FNDF Schwab Fundamental International Large Co. Index ETF 0.7 25 25 9.0 +1.5
DFIC Dimensional International Core Equity 2 ETF 0.7 23 27 7.4 -0.2
DISV Dimensional International Small Cap Value ETF 0.7 42 8 9.2 +1.6
KOCG FIS Knights of Columbus Global Belief ETF 0.7 75 -25 5.3 -2.3
DFIS Dimensional International Small Cap ETF 0.7 39 11 6.7 -0.9
ISCF iShares International SmallCap Equity Factor ETF 0.7 23 27 8.7 +1.2
VEA Vanguard FTSE Developed Markets ETF 0.7 5 45 7.0 -0.6
IQDG WisdomTree International Quality Dividend Growth Fund 0.7 42 8 5.8 -1.8
WDIV SPDR S&P Global Dividend ETF 0.7 40 10 10.2 +2.6
SNSR Global X Internet of Things ETF 0.7 68 -18 4.3 -3.3
AVIV Avantis International Large Cap Value ETF 0.7 25 25 8.8 +1.3
DFAI Dimensional International Core Equity Market ETF 0.6 18 32 6.9 -0.7
AVDE Avantis International Equity ETF 0.6 23 27 7.8 +0.3
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 47 6.9 -0.7
SCHY Schwab International Dividend Equity ETF 0.6 14 36 9.3 +1.7
DMXF iShares ESG Advanced MSCI EAFE ETF 0.6 12 38 5.4 -2.2
EFA iShares MSCI EAFE ETF 0.6 35 15 6.4 -1.2
LNGG Roundhill Alerian LNG ETF 0.6 65 -15 8.6 +1.0
BKIE BNY Mellon International Equity ETF 0.6 4 46 6.9 -0.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.6 36 14 6.4 -1.2
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 30 6.8 -0.8
SHPP Pacer Industrials and Logistics ETF 0.6 60 -10 8.9 +1.3
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.6 25 25 6.0 -1.6
CRUZ Defiance Hotel Airline and Cruise ETF 0.6 45 5 -4.9 -12.5
OCEN IQ Clean Oceans ETF 0.6 45 5 5.3 -2.3
MXI iShares Global Materials ETF 0.5 41 9 6.7 -0.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.5 30 20 6.8 -0.8
SCHF Schwab International Equity ETF 0.5 6 44 7.0 -0.6
NXTG First Trust Indxx NextG ETF 0.5 70 -20 6.0 -1.6
DFSI Dimensional International Sustainability Core 1 ETF 0.5 24 26 6.2 -1.4
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 43 6.9 -0.7
VXUS Vanguard Total International Stock ETF 0.5 7 43 7.1 -0.5
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 0.5 20 30 10.7 +3.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 20 7.8 +0.2
FAN First Trust Global Wind Energy ETF 0.5 60 -10 5.5 -2.1
DWX SPDR S&P International Dividend ETF 0.5 45 5 7.1 -0.5
JHMD John Hancock Multifactor Developed International ETF 0.5 39 11 7.3 -0.2
VSGX Vanguard ESG International Stock ETF 0.5 12 38 6.8 -0.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.5 20 30 5.6 -2.0
JETS U.S. Global Jets ETF 0.5 60 -10 -15.6 -23.2
LVHI Franklin International Low Volatility High Dividend Index ET 0.5 40 10 10.1 +2.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.4 20 30 6.2 -1.3
RNRG Global X Renewable Energy Producers ETF 0.4 66 -16 4.9 -2.7
TAN Invesco Solar ETF 0.4 67 -17 6.1 -1.5
CTEC Global X CleanTech ETF 0.4 50 0 1.0 -6.6
HYDR Global X Hydrogen ETF 0.4 50 0 -13.4 -21.0
ICLN iShares Global Clean Energy ETF 0.4 41 9 4.3 -3.3
HDRO Defiance Next Gen H2 ETF 0.4 30 20 -11.0 -18.6
HJEN Direxion Hydrogen ETF 0.4 45 5 -3.2 -10.7
IVLU iShares MSCI Intl Value Factor ETF 0.4 30 20 10.6 +3.0
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 20 6.8 -0.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 8 42 7.2 -0.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 16 6.7 -0.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.4 42 8 6.8 -0.8
UIVM VictoryShares International Value Momentum ETF 0.4 35 15 10.6 +3.0
BLES Inspire Global Hope ETF 0.4 61 -11 6.3 -1.3
DEW WisdomTree Global High Dividend Fund 0.4 58 -8 9.0 +1.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 9 6.6 -0.9
XT iShares Exponential Technologies ETF 0.3 46 4 3.8 -3.7
KXI iShares Global Consumer Staples ETF 0.3 41 9 5.6 -2.0
JSTC Adasina Social Justice All Cap Global ETF 0.3 89 -39 4.7 -2.8
ZSB USCF Sustainable Battery Metals Strategy Fund 0.3 61 -11 14.8 +7.3
GLOF iShares Global Equity Factor ETF 0.3 20 30 7.0 -0.5
QWLD SPDR MSCI World StrategicFactors ETF 0.2 30 20 6.0 -1.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 41 5.7 -1.9
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.2 12 38 5.0 -2.5
ESGG FlexShares STOXX Global ESG Select Index Fund 0.2 42 8 5.1 -2.5
TTAI FCF International Quality ETF 0.2 59 -9 7.3 -0.2
SMOG VanEck Low Carbon Energy ETF 0.2 61 -11 3.0 -4.5
VT Vanguard Total World Stock ETF 0.2 7 43 5.8 -1.8
IXP iShares Global Comm Services ETF 0.2 42 8 5.1 -2.4
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.2 39 11 8.8 +1.3
IXG iShares Global Financials ETF 0.2 42 8 6.8 -0.8
TOK iShares MSCI Kokusai ETF 0.2 26 24 5.3 -2.3
KNCT Invesco Next Gen Connectivity ETF 0.2 40 10 5.9 -1.7
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 41 5.5 -2.1
URTH iShares MSCI World ETF 0.2 24 26 5.4 -2.2
IMTM iShares MSCI Intl Momentum Factor ETF 0.2 30 20 6.7 -0.8
GSFP Goldman Sachs Future Planet Equity ETF 0.2 75 -25 4.5 -3.0
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.5 -2.1
IDMO Invesco S&P International Developed Momentum ETF 0.1 25 25 6.8 -0.7
EFG iShares MSCI EAFE Growth ETF 0.1 36 14 4.1 -3.5
AFK VanEck Africa Index ETF 0.1 98 -48 10.0 +2.5
IFGL iShares International Developed Real Estate ETF 0.1 48 2 7.0 -0.6
KRUZ Unusual Whales Subversive Republican Trading ETF 0.1 75 -25 4.9 -2.7
WPS iShares International Developed Property ETF 0.1 48 2 7.2 -0.4
TEMP JPMorgan Climate Change Solutions ETF 0.1 49 1 4.7 -2.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 40 8.1 +0.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 38 8.7 +1.1
IGRO iShares International Dividend Growth ETF 0.1 15 35 7.1 -0.5
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.1 22 28 6.2 -1.4
ERET iShares Environmentally Aware Real Estate ETF 0.0 30 20 7.2 -0.3
VIGI Vanguard International Dividend Appreciation ETF 0.0 15 35 5.5 -2.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.0 20 30 6.7 -0.9
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.0 45 5 6.3 -1.3
NANC Unusual Whales Subversive Democratic Trading ETF 0.0 75 -25 3.7 -3.8

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Global X MSCI Norway ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.3 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.61 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.