Global X MSCI Norway ETF
ALTAR
Score™		 10.2% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 11.2x P/Sales
ratio		 1.3x
P/BV
ratio		 1.5x Div.
yield		 4.7%


  • 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) $54
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 59
Wgt avg mkt cap (mns) $23,219
Large cap (>$10bn) 55.7%
Mid cap ($2-10bn) 30.7%
Small cap (<$2bn) 12.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DNB BANK ASA 13.3 %
STATOILHYDRO ASA 11.4 %
KONGSBERG GRUPPEN ASA 8.5 %
TELENOR ASA 5.1 %
MARINE HARVEST 5.1 %
ORKLA ASA 4.7 %
NORSK HYDRO ASA 4.5 %
DET NORSKE OLJESELSKAP ASA 4.0 %
YARA INTERNATIONAL ASA 3.2 %
STOREBRAND ASA 3.1 %
Total 62.9 %

TOP COUNTRY EXPOSURE
NORWAY 91.9 %
BERMUDA 3.3 %
BRITAIN 2.1 %
FAROE ISLANDS 1.5 %
DENMARK 0.7 %
SINGAPORE 0.6 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
14.2% 16.0% 10.5% 4.6% 5.7%

Market Correlations
versus... Beta R-squared
S&P500 0.88 40%
MSCI EAFE 1.05 61%
MSCI Emg. Mkts. 0.79 34%

Technical Indicators
Recent close $28.25
30d moving avg. $26.04
Annualized volatility 22.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.6%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $242

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 234 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™: 10.2%


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 95.8 53 -3 10.2 -0.1
GLCR GlacierShares Nasdaq Iceland ETF 9.2 95 -45 4.0 -6.3
EFAS Global X MSCI SuperDividend EAFE ETF 7.8 57 -7 8.4 -1.9
MOO VanEck Agribusiness ETF 7.2 53 -3 10.5 +0.3
IVEG iShares Emergent Food and AgTech Multisector ETF 6.0 47 3 9.0 -1.3
DFE WisdomTree Europe SmallCap Dividend Fund 5.2 58 -8 8.2 -2.1
FYLD Cambria Foreign Shareholder Yield ETF 4.9 59 -9 12.1 +1.9
VEGI iShares MSCI Agriculture Producers ETF 4.6 39 11 8.6 -1.7
FEP First Trust Europe AlphaDEX Fund 4.6 80 -30 9.6 -0.6
FPXE First Trust IPOX Europe Equity Opportunities ETF 4.4 70 -20 4.9 -5.3
FPXI First Trust International Equity Opportunities ETF 4.2 70 -20 3.6 -6.6
IDOG ALPS International Sector Dividend Dogs ETF 4.1 50 0 12.6 +2.4
IEUS iShares MSCI Europe Small-Cap ETF 4.1 42 8 7.4 -2.8
FDD First Trust Stoxx European Select Dividend Index Fund 4.0 58 -8 12.0 +1.7
DTH WisdomTree International High Dividend Fund 3.6 58 -8 9.1 -1.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.6 46 4 10.6 +0.4
VIDI Vident International Equity Strategy ETF 3.5 61 -11 11.3 +1.1
DLS WisdomTree International SmallCap Dividend Fund 3.4 58 -8 8.8 -1.5
CCNR ALPS CoreCommodity Natural Resources ETF 3.3 39 11 12.1 +1.8
IDLV Invesco S&P International Developed Low Volatility ETF 3.2 25 25 6.6 -3.7
WAR U.S. Global Tech and Aerospace & Defense ETF 3.1 60 -10 3.7 -6.5
RCGE RockCreek Global Equality ETF 3.0 95 -45 6.4 -3.8
BOAT SonicShares Global Shipping ETF 2.9 69 -19 27.5 +17.3
VWID Virtus WMC International Dividend ETF 2.9 49 1 8.9 -1.4
DSTX Distillate International Fundamental Stability & Value ETF 2.8 55 -5 8.4 -1.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.7 80 -30 12.3 +2.1
FDFF Fidelity Disruptive Finance ETF 2.6 50 0 4.1 -6.2
EUDV ProShares MSCI Europe Dividend Growers ETF 2.3 55 -5 5.8 -4.4
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.3 80 -30 5.1 -5.2
WBAT WisdomTree Battery Value Chain and Innovation Fund 2.2 45 5 4.4 -5.8
IPKW Invesco International BuyBack Achievers ETF 2.2 55 -5 14.5 +4.3
DWMF WisdomTree International Multifactor Fund 2.2 38 12 7.0 -3.2
JHID John Hancock International High Dividend ETF 2.2 46 4 11.0 +0.8
AIVI WisdomTree International AI Enhanced Value Fund 2.2 58 -8 7.4 -2.8
SDIV Global X Superdividend ETF 2.1 58 -8 42.2 +32.0
NUDM Nuveen ESG International Developed Markets Equity ETF 2.1 31 19 6.5 -3.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 10 7.7 -2.5
DOL WisdomTree International LargeCap Dividend Fund 2.0 48 2 7.5 -2.8
DWM WisdomTree International Equity Fund 2.0 48 2 7.7 -2.6
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.0 80 -30 10.5 +0.3
SCHC Schwab International Small-Cap Equity ETF 2.0 11 39 7.1 -3.2
DIM WisdomTree International MidCap Dividend Fund 2.0 58 -8 7.8 -2.5
FDEV Fidelity International Multifactor ETF 2.0 18 32 7.7 -2.6
IVAL Alpha Architect International Quantitative Value ETF 2.0 49 1 11.5 +1.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.0 49 1 7.4 -2.8
DFNL Davis Select Financial ETF 2.0 63 -13 7.8 -2.5
GNR SPDR S&P Global Natural Resources ETF 1.9 40 10 11.7 +1.5
GCOW Pacer Global Cash Cows Dividend ETF 1.9 60 -10 11.1 +0.9
IMOM Alpha Architect International Quantitative Momentum ETF 1.9 49 1 4.6 -5.6
SCZ iShares MSCI EAFE Small-Cap ETF 1.9 40 10 7.4 -2.9
FIDI Fidelity International High Dividend ETF 1.7 18 32 9.2 -1.1
LVHI Franklin International Low Volatility High Dividend Index ET 1.7 40 10 10.8 +0.6
TPIF Timothy Plan International ETF 1.7 62 -12 6.4 -3.8
SAGP Strategas Global Policy Opportunities ETF 1.6 65 -15 5.4 -4.9
DINT Davis Select International ETF 1.6 55 -5 8.2 -2.1
INEQ Columbia International Equity Income ETF 1.6 45 5 8.7 -1.5
AVDV Avantis International Small Cap Value ETF 1.6 36 14 10.6 +0.3
KNO AXS Knowledge Leaders ETF 1.6 78 -28 6.1 -4.2
FTRI First Trust Indxx Global Natural Resources Income ETF 1.6 70 -20 8.6 -1.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.5 29 21 8.1 -2.2
RODE Hartford Multifactor Diversified International ETF 1.5 29 21 11.0 +0.8
HAP VanEck Natural Resources ETF 1.5 50 0 10.1 -0.2
WWJD Inspire International ETF 1.5 80 -30 7.4 -2.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.5 47 3 8.6 -1.7
FID First Trust S&P International Dividend Aristocrats ETF 1.5 60 -10 8.5 -1.7
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.5 65 -15 3.7 -6.5
IQDG WisdomTree International Quality Dividend Growth Fund 1.5 42 8 7.1 -3.2
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.4 58 -8 6.8 -3.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.4 7 43 7.1 -3.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.4 42 8 6.7 -3.5
FNDC Schwab Fundamental International Small Co. Index ETF 1.4 39 11 6.2 -4.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 0 5.9 -4.4
CIL VictoryShares International Volatility Wtd ETF 1.3 45 5 6.8 -3.4
JPIN J.P. Morgan Diversified Return International Equity ETF 1.3 37 13 8.8 -1.5
OAIM OneAscent International Equity ETF 1.3 95 -45 6.2 -4.1
SCHY Schwab International Dividend Equity ETF 1.3 14 36 9.7 -0.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.3 58 -8 6.8 -3.5
IEUR iShares Core MSCI Europe ETF 1.3 11 39 7.4 -2.8
SPEU SPDR Portfolio Europe ETF 1.2 7 43 7.4 -2.8
WDIV SPDR S&P Global Dividend ETF 1.2 40 10 9.7 -0.5
EFRA iShares Environmental Infrastructure and Industrials ETF 1.2 47 3 5.2 -5.0
VGK Vanguard FTSE Europe ETF 1.2 11 39 7.4 -2.8
GWX SPDR S&P International Small Cap ETF 1.2 40 10 6.7 -3.5
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 3 9.3 -0.9
FILL iShares MSCI Global Energy Producers ETF 1.2 39 11 12.3 +2.0
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 1 6.3 -3.9
ESGD iShares ESG Aware MSCI EAFE ETF 1.1 20 30 7.0 -3.2
INTF iShares International Equity Factor ETF 1.1 15 35 7.9 -2.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.1 80 -30 5.5 -4.7
SNSR Global X Internet of Things ETF 1.1 68 -18 4.6 -5.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.1 39 11 6.9 -3.3
RFEU First Trust Riverfront Dynamic Europe ETF 1.1 83 -33 10.6 +0.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.1 14 36 6.4 -3.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 11 8.6 -1.7
UIVM VictoryShares International Value Momentum ETF 1.1 35 15 9.6 -0.6
EUFN iShares MSCI Europe Financials ETF 1.0 51 -1 8.3 -1.9
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.0 9 41 9.3 -0.9
ERTH Invesco MSCI Sustainable Future ETF 1.0 62 -12 3.5 -6.7
IDV iShares International Select Dividend ETF 1.0 51 -1 12.0 +1.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 1.0 56 -6 12.3 +2.1
IXC iShares Global Energy ETF 1.0 44 6 10.7 +0.4
TEMP JPMorgan Climate Change Solutions ETF 1.0 49 1 5.9 -4.4
DEW WisdomTree Global High Dividend Fund 1.0 58 -8 8.8 -1.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.0 24 26 7.7 -2.5
BBEU JPMorgan BetaBuilders Europe ETF 0.9 9 41 7.2 -3.1
QINT American Century Quality Diversified International ETF 0.9 39 11 7.6 -2.7
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.9 46 4 6.6 -3.6
FLEE Franklin FTSE Europe ETF 0.9 9 41 7.3 -3.0
PPIE Putnam PanAgora ESG International Equity ETF 0.9 49 1 7.6 -2.6
IDHQ Invesco S&P International Developed High Quality ETF 0.9 29 21 6.7 -3.6
IMFL Invesco International Developed Dynamic Multifactor ETF 0.9 34 16 6.0 -4.2
IEV iShares Europe ETF 0.9 67 -17 6.9 -3.3
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.9 35 15 6.8 -3.4
PICK iShares MSCI Global Metals & Mining Producers ETF 0.8 39 11 14.0 +3.8
DIVI Franklin International Core Dividend Tilt Index ETF 0.8 9 41 8.2 -2.0
TTAI FCF International Quality ETF 0.8 59 -9 7.1 -3.1
IEFA iShares Core MSCI EAFE ETF 0.8 7 43 7.3 -3.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.8 12 38 6.3 -4.0
DWX SPDR S&P International Dividend ETF 0.8 45 5 6.2 -4.0
BLES Inspire Global Hope ETF 0.8 61 -11 6.9 -3.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.8 25 25 7.4 -2.9
IDMO Invesco S&P International Developed Momentum ETF 0.8 25 25 5.5 -4.7
FNDF Schwab Fundamental International Large Co. Index ETF 0.8 25 25 10.0 -0.3
COPY Tweedy, Browne Insider + Value ETF 0.8 80 -30 12.6 +2.3
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 0.7 61 -11 1.4 -8.9
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.7 61 -11 -2.2 -12.5
DFIV Dimensional International Value ETF 0.7 27 23 10.2 0.0
EFV iShares MSCI EAFE Value ETF 0.7 34 16 9.4 -0.8
DMXF iShares ESG Advanced MSCI EAFE ETF 0.7 12 38 5.5 -4.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 5 9.2 -1.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 0.7 65 -15 12.1 +1.8
AVSD Avantis Responsible International Equity ETF 0.7 23 27 5.9 -4.4
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 46 7.3 -3.0
NXTG First Trust Indxx NextG ETF 0.7 70 -20 5.6 -4.7
DIHP Dimensional International High Profitability ETF 0.7 29 21 7.3 -2.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.7 20 30 7.2 -3.1
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -10 3.8 -6.5
DFAI Dimensional International Core Equity Market ETF 0.7 18 32 7.5 -2.8
VYMI Vanguard International High Dividend Yield ETF 0.7 22 28 9.9 -0.3
FENI Fidelity Enhanced International ETF 0.7 28 22 6.9 -3.4
WNDY Global X Wind Energy ETF 0.7 50 0 4.9 -5.3
IDAT iShares Future Cloud 5G and Tech ETF 0.7 47 3 5.0 -5.2
SPDW SPDR Portfolio Developed World ex-US ETF 0.7 3 47 7.4 -2.9
IQSI IQ Candriam International Equity ETF 0.7 15 35 6.7 -3.5
XT iShares Exponential Technologies ETF 0.7 46 4 5.6 -4.7
VEA Vanguard FTSE Developed Markets ETF 0.7 5 45 7.5 -2.7
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 20 6.3 -4.0
DFSI Dimensional International Sustainability Core 1 ETF 0.6 24 26 6.6 -3.6
EFA iShares MSCI EAFE ETF 0.6 35 15 7.0 -3.3
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.6 20 30 6.7 -3.5
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.6 25 25 6.0 -4.2
IVLU iShares MSCI Intl Value Factor ETF 0.6 30 20 11.0 +0.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.6 36 14 6.7 -3.6
ABLG Abacus FCF International Leaders ETF 0.6 59 -9 6.2 -4.0
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 30 7.3 -3.0
BKIE BNY Mellon International Equity ETF 0.6 4 46 7.3 -3.0
AVDE Avantis International Equity ETF 0.6 23 27 7.9 -2.4
DISV Dimensional International Small Cap Value ETF 0.6 42 8 9.8 -0.4
DFIC Dimensional International Core Equity 2 ETF 0.6 23 27 7.8 -2.4
DFIS Dimensional International Small Cap ETF 0.6 39 11 7.8 -2.5
AIRL Themes Airlines ETF 0.6 35 15 3.4 -6.9
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 27 8.7 -1.5
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.6 47 3 9.8 -0.5
MXI iShares Global Materials ETF 0.6 41 9 8.0 -2.3
RNRG Global X Renewable Energy Producers ETF 0.5 66 -16 5.9 -4.4
PBD Invesco Global Clean Energy ETF 0.5 75 -25 0.5 -9.8
TAN Invesco Solar ETF 0.5 67 -17 7.9 -2.3
DTAN Sparkline International Intangible Value ETF 0.5 55 -5 8.4 -1.9
GLOF iShares Global Equity Factor ETF 0.5 20 30 6.9 -3.4
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 43 8.2 -2.1
RFDI First Trust Riverfront Dynamic Developed International ETF 0.5 83 -33 9.8 -0.4
SCHF Schwab International Equity ETF 0.5 6 44 7.6 -2.7
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.5 20 30 6.5 -3.7
SHPP Pacer Industrials and Logistics ETF 0.5 60 -10 8.3 -1.9
VXUS Vanguard Total International Stock ETF 0.5 7 43 8.2 -2.0
EFG iShares MSCI EAFE Growth ETF 0.5 36 14 4.4 -5.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.5 25 25 7.4 -2.9
AVIV Avantis International Large Cap Value ETF 0.5 25 25 9.1 -1.1
JHMD John Hancock Multifactor Developed International ETF 0.5 39 11 7.8 -2.5
VSGX Vanguard ESG International Stock ETF 0.5 12 38 8.0 -2.2
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.5 30 20 7.1 -3.1
DIV Global X SuperDividend US ETF 0.5 45 5 12.1 +1.9
NDIV Amplify Natural Resources Dividend Income ETF 0.5 59 -9 10.5 +0.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.4 18 32 8.0 -2.2
KXI iShares Global Consumer Staples ETF 0.4 41 9 5.4 -4.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 20 8.4 -1.8
IMTM iShares MSCI Intl Momentum Factor ETF 0.4 30 20 5.5 -4.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.4 20 30 5.9 -4.3
WBIY WBI Power Factor High Dividend ETF 0.4 100 -50 17.1 +6.9
FEOE First Eagle Overseas Equity ETF 0.4 79 -29 8.4 -1.9
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 16 8.0 -2.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 8 42 8.4 -1.9
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 20 8.0 -2.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 9 7.7 -2.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 38 5.3 -4.9
JSTC Adasina Social Justice All Cap Global ETF 0.3 89 -39 4.5 -5.8
ROBO ROBO Global Robotics & Automation Index ETF 0.3 95 -45 3.8 -6.4
BOTZ Global X Robotics & Artificial Intelligence ETF 0.3 69 -19 2.5 -7.8
DTEC ALPS Disruptive Technologies ETF 0.3 50 0 3.8 -6.4
IBOT Vaneck Robotics ETF 0.3 47 3 4.7 -5.5
ZSB USCF Sustainable Battery Metals Strategy Fund 0.3 61 -11 9.3 -0.9
OCEN IQ Clean Oceans ETF 0.3 45 5 6.6 -3.7
CUT Invesco MSCI Global Timber ETF 0.3 61 -11 10.1 -0.2
SMCF Themes US Small Cap Cash Flow Champions ETF 0.3 29 21 13.2 +3.0
ESGG FlexShares STOXX Global ESG Select Index Fund 0.3 42 8 5.6 -4.6
IXP iShares Global Comm Services ETF 0.2 42 8 6.3 -4.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 41 6.1 -4.2
KLMT Invesco MSCI Global Climate 500 ETF 0.2 10 40 6.0 -4.2
IGRO iShares International Dividend Growth ETF 0.2 15 35 7.3 -2.9
EXI iShares Global Industrials ETF 0.2 42 8 4.6 -5.6
VT Vanguard Total World Stock ETF 0.2 7 43 6.2 -4.1
IXG iShares Global Financials ETF 0.2 42 8 6.8 -3.4
KNCT Invesco Next Gen Connectivity ETF 0.2 40 10 5.2 -5.1
TOK iShares MSCI Kokusai ETF 0.2 26 24 5.3 -5.0
URTH iShares MSCI World ETF 0.2 24 26 5.4 -4.9
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 28 5.8 -4.5
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 41 5.4 -4.9
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 20 6.2 -4.1
ACWI iShares MSCI ACWI ETF 0.1 32 18 5.8 -4.4
AFK VanEck Africa Index ETF 0.1 98 -48 12.3 +2.1
IFGL iShares International Developed Real Estate ETF 0.1 48 2 7.3 -2.9
VFVA Vanguard U.S. Value Factor ETF 0.1 13 37 11.5 +1.3
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.1 35 15 9.8 -0.5
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 40 8.4 -1.9
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 38 8.3 -1.9
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 30 6.1 -4.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.1 29 21 8.9 -1.3
VIGI Vanguard International Dividend Appreciation ETF 0.1 15 35 6.2 -4.0
BULD Pacer BlueStar Engineering the Future ETF 0.1 60 -10 1.6 -8.7
ERET iShares Environmentally Aware Real Estate ETF 0.1 30 20 7.5 -2.8
RSSL Global X Russell 2000 ETF 0.0 8 42 4.7 -5.5
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.0 39 11 6.1 -4.1
IGPT Invesco AI and Next Gen Software ETF 0.0 60 -10 4.8 -5.5
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 29 4.0 -6.2

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.5 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 10.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.69 CATEGORY
AVERAGE		 1.61
 
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.