Global X MSCI Norway ETF
ALTAR
Score™		 10.2% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 10.8x P/Sales
ratio		 1.3x
P/BV
ratio		 1.5x Div.
yield		 5.2%


  • 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) $50
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) $22,962
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 13.5 %
STATOILHYDRO ASA 12.0 %
KONGSBERG GRUPPEN ASA 8.1 %
NORSK HYDRO ASA 5.3 %
MARINE HARVEST 5.2 %
TELENOR ASA 4.8 %
ORKLA ASA 4.3 %
DET NORSKE OLJESELSKAP ASA 4.1 %
STOREBRAND ASA 3.1 %
YARA INTERNATIONAL ASA 3.0 %
Total 63.4 %

TOP COUNTRY EXPOSURE
NORWAY 91.7 %
BERMUDA 3.2 %
BRITAIN 2.1 %
FAROE ISLANDS 1.4 %
DENMARK 0.6 %
SINGAPORE 0.6 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
6.2% 10.9% 7.9% 3.9% 5.2%

Market Correlations
versus... Beta R-squared
S&P500 1.00 56%
MSCI EAFE 1.08 66%
MSCI Emg. Mkts. 0.79 36%

Technical Indicators
Recent close $27.11
30d moving avg. $26.05
Annualized volatility 22.9%
Short interest (ETF) 0.8%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.8%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $242

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 227 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 95.1 53 -3 10.2 -0.0
EFAS Global X MSCI SuperDividend EAFE ETF 8.0 57 -7 8.5 -1.7
MOO VanEck Agribusiness ETF 7.0 53 -3 10.8 +0.6
IVEG iShares Emergent Food and AgTech Multisector ETF 6.3 47 3 8.5 -1.7
FEP First Trust Europe AlphaDEX Fund 5.4 80 -30 9.3 -0.9
DFE WisdomTree Europe SmallCap Dividend Fund 5.3 58 -8 8.4 -1.8
VEGI iShares MSCI Agriculture Producers ETF 4.8 39 11 8.8 -1.4
CCNR ALPS CoreCommodity Natural Resources ETF 4.4 39 11 11.0 +0.8
IDOG ALPS International Sector Dividend Dogs ETF 4.2 50 0 12.2 +2.0
FYLD Cambria Foreign Shareholder Yield ETF 4.1 59 -9 12.5 +2.3
IEUS iShares MSCI Europe Small-Cap ETF 3.9 42 8 7.2 -3.1
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.6 70 -20 4.5 -5.7
DTH WisdomTree International High Dividend Fund 3.6 58 -8 9.1 -1.1
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.6 46 4 10.4 +0.2
VIDI Vident International Equity Strategy ETF 3.5 61 -11 12.0 +1.8
DLS WisdomTree International SmallCap Dividend Fund 3.4 58 -8 8.9 -1.3
IDLV Invesco S&P International Developed Low Volatility ETF 3.2 25 25 6.3 -3.9
DSTX Distillate International Fundamental Stability & Value ETF 3.0 55 -5 8.4 -1.8
BOAT SonicShares Global Shipping ETF 3.0 69 -19 31.6 +21.4
VWID Virtus WMC International Dividend ETF 2.9 49 1 8.8 -1.4
FDD First Trust Stoxx European Select Dividend Index Fund 2.8 58 -8 12.4 +2.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.8 80 -30 10.0 -0.2
IVAL Alpha Architect International Quantitative Value ETF 2.6 49 1 10.6 +0.4
FDFF Fidelity Disruptive Finance ETF 2.6 50 0 4.1 -6.1
IMOM Alpha Architect International Quantitative Momentum ETF 2.5 49 1 4.8 -5.4
EUDV ProShares MSCI Europe Dividend Growers ETF 2.3 55 -5 6.9 -3.3
WBAT WisdomTree Battery Value Chain and Innovation Fund 2.2 45 5 0.0 -10.2
DWMF WisdomTree International Multifactor Fund 2.2 38 12 6.9 -3.3
SDIV Global X Superdividend ETF 2.2 58 -8 13.9 +3.7
JHID John Hancock International High Dividend ETF 2.2 46 4 10.3 +0.1
IPKW Invesco International BuyBack Achievers ETF 2.2 55 -5 15.3 +5.1
AIVI WisdomTree International AI Enhanced Value Fund 2.2 58 -8 7.5 -2.7
NUDM Nuveen ESG International Developed Markets Equity ETF 2.1 31 19 6.6 -3.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 10 7.5 -2.7
DOL WisdomTree International LargeCap Dividend Fund 2.0 48 2 7.5 -2.7
DWM WisdomTree International Equity Fund 2.0 48 2 7.7 -2.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.0 49 1 7.3 -2.9
SCHC Schwab International Small-Cap Equity ETF 2.0 11 39 7.1 -3.1
DIM WisdomTree International MidCap Dividend Fund 2.0 58 -8 7.7 -2.5
FDEV Fidelity International Multifactor ETF 2.0 18 32 7.7 -2.5
DFNL Davis Select Financial ETF 2.0 63 -13 8.4 -1.8
GCOW Pacer Global Cash Cows Dividend ETF 1.9 60 -10 10.9 +0.7
GNR SPDR S&P Global Natural Resources ETF 1.9 40 10 11.4 +1.2
SCZ iShares MSCI EAFE Small-Cap ETF 1.8 40 10 7.4 -2.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.8 80 -30 11.8 +1.6
FIDI Fidelity International High Dividend ETF 1.7 18 32 9.0 -1.2
LVHI Franklin International Low Volatility High Dividend Index ET 1.7 40 10 11.0 +0.8
TPIF Timothy Plan International ETF 1.7 62 -12 6.5 -3.7
SAGP Strategas Global Policy Opportunities ETF 1.6 65 -15 5.3 -5.0
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.6 80 -30 4.9 -5.3
DINT Davis Select International ETF 1.6 55 -5 8.3 -1.9
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 10.9 +0.7
KNO AXS Knowledge Leaders ETF 1.6 78 -28 6.1 -4.1
FTRI First Trust Indxx Global Natural Resources Income ETF 1.6 70 -20 8.6 -1.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.5 29 21 8.2 -2.0
RODE Hartford Multifactor Diversified International ETF 1.5 29 21 9.9 -0.3
FID First Trust S&P International Dividend Aristocrats ETF 1.5 60 -10 9.1 -1.2
WWJD Inspire International ETF 1.5 80 -30 7.6 -2.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.5 47 3 9.0 -1.2
IQDG WisdomTree International Quality Dividend Growth Fund 1.5 42 8 7.2 -3.0
HAP VanEck Natural Resources ETF 1.4 50 0 10.0 -0.2
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.4 58 -8 7.1 -3.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.4 42 8 6.8 -3.4
FNDC Schwab Fundamental International Small Co. Index ETF 1.4 39 11 6.3 -3.9
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 0 5.8 -4.4
CIL VictoryShares International Volatility Wtd ETF 1.3 45 5 7.0 -3.3
JPIN J.P. Morgan Diversified Return International Equity ETF 1.3 37 13 8.9 -1.3
OAIM OneAscent International Equity ETF 1.3 95 -45 6.2 -4.1
IDV iShares International Select Dividend ETF 1.3 51 -1 11.6 +1.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.3 7 43 7.0 -3.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.3 58 -8 6.5 -3.7
IEUR iShares Core MSCI Europe ETF 1.2 11 39 7.4 -2.8
NATO Themes Transatlantic Defense ETF 1.2 35 15 3.2 -7.0
SNSR Global X Internet of Things ETF 1.2 68 -18 5.0 -5.2
WDIV SPDR S&P Global Dividend ETF 1.2 40 10 9.6 -0.6
SPEU SPDR Portfolio Europe ETF 1.2 7 43 7.5 -2.7
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 1 6.0 -4.2
VGK Vanguard FTSE Europe ETF 1.2 11 39 7.5 -2.7
ESGD iShares ESG Aware MSCI EAFE ETF 1.2 20 30 7.1 -3.1
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 3 9.5 -0.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.1 80 -30 5.7 -4.5
FILL iShares MSCI Global Energy Producers ETF 1.1 39 11 11.4 +1.2
RFEU First Trust Riverfront Dynamic Europe ETF 1.1 83 -33 10.0 -0.2
GWX SPDR S&P International Small Cap ETF 1.1 40 10 6.7 -3.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.1 39 11 7.0 -3.2
EUFN iShares MSCI Europe Financials ETF 1.1 51 -1 8.5 -1.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.1 14 36 6.0 -4.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 11 8.3 -1.9
INTF iShares International Equity Factor ETF 1.1 15 35 8.1 -2.1
UIVM VictoryShares International Value Momentum ETF 1.1 35 15 9.5 -0.7
ERTH Invesco MSCI Sustainable Future ETF 1.0 62 -12 2.5 -7.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.0 9 41 9.2 -1.0
DEW WisdomTree Global High Dividend Fund 1.0 58 -8 7.7 -2.5
TEMP JPMorgan Climate Change Solutions ETF 1.0 49 1 5.9 -4.3
FPXI First Trust International Equity Opportunities ETF 1.0 70 -20 3.9 -6.4
IXC iShares Global Energy ETF 1.0 44 6 9.8 -0.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.0 24 26 6.4 -3.8
BBEU JPMorgan BetaBuilders Europe ETF 0.9 9 41 7.2 -3.0
QINT American Century Quality Diversified International ETF 0.9 39 11 7.6 -2.6
PICK iShares MSCI Global Metals & Mining Producers ETF 0.9 39 11 14.1 +3.9
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.9 46 4 6.8 -3.4
IDHQ Invesco S&P International Developed High Quality ETF 0.9 29 21 6.7 -3.5
FLEE Franklin FTSE Europe ETF 0.9 9 41 7.0 -3.2
PPIE Putnam PanAgora ESG International Equity ETF 0.9 49 1 7.8 -2.4
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 5.9 -4.4
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 6.9 -3.3
DWX SPDR S&P International Dividend ETF 0.8 45 5 6.6 -3.7
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.8 12 38 6.2 -4.0
IEFA iShares Core MSCI EAFE ETF 0.8 7 43 7.4 -2.8
BLES Inspire Global Hope ETF 0.8 61 -11 6.8 -3.4
COPY Tweedy, Browne Insider + Value ETF 0.8 80 -30 12.6 +2.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.8 25 25 7.2 -3.0
SCHY Schwab International Dividend Equity ETF 0.8 14 36 9.8 -0.4
FNDF Schwab Fundamental International Large Co. Index ETF 0.8 25 25 10.1 -0.1
IDMO Invesco S&P International Developed Momentum ETF 0.8 25 25 5.7 -4.5
EFV iShares MSCI EAFE Value ETF 0.8 34 16 9.4 -0.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.8 45 5 9.3 -0.9
DMXF iShares ESG Advanced MSCI EAFE ETF 0.7 12 38 5.8 -4.5
IDAT iShares Future Cloud 5G and Tech ETF 0.7 47 3 4.8 -5.5
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 0.7 61 -11 1.4 -8.8
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.7 61 -11 -1.1 -11.3
DFIV Dimensional International Value ETF 0.7 27 23 10.4 +0.2
XT iShares Exponential Technologies ETF 0.7 46 4 5.5 -4.7
AVSD Avantis Responsible International Equity ETF 0.7 23 27 6.8 -3.4
ICOW Pacer Developed Markets International Cash Cows 100 ETF 0.7 65 -15 12.2 +2.0
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 46 7.4 -2.8
GSID Goldman Sachs MarketBeta International Equity ETF 0.7 20 30 7.1 -3.1
VYMI Vanguard International High Dividend Yield ETF 0.7 22 28 10.0 -0.2
DIHP Dimensional International High Profitability ETF 0.7 29 21 7.4 -2.8
SPDW SPDR Portfolio Developed World ex-US ETF 0.7 3 47 7.5 -2.7
DFAI Dimensional International Core Equity Market ETF 0.7 18 32 7.6 -2.6
FENI Fidelity Enhanced International ETF 0.7 28 22 7.0 -3.2
NXTG First Trust Indxx NextG ETF 0.7 70 -20 5.8 -4.4
IQSI IQ Candriam International Equity ETF 0.7 15 35 6.7 -3.5
IQLT iShares MSCI Intl Quality Factor ETF 0.7 30 20 6.3 -3.9
VEA Vanguard FTSE Developed Markets ETF 0.7 5 45 7.6 -2.7
ROBO ROBO Global Robotics & Automation Index ETF 0.7 95 -45 4.0 -6.2
DTEC ALPS Disruptive Technologies ETF 0.7 50 0 4.0 -6.2
BOTZ Global X Robotics & Artificial Intelligence ETF 0.7 69 -19 2.6 -7.6
DFSI Dimensional International Sustainability Core 1 ETF 0.6 24 26 6.6 -3.6
IBOT Vaneck Robotics ETF 0.6 47 3 4.6 -5.6
IVLU iShares MSCI Intl Value Factor ETF 0.6 30 20 11.1 +0.9
EFA iShares MSCI EAFE ETF 0.6 35 15 7.0 -3.2
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 27 8.6 -1.6
SHPP Pacer Industrials and Logistics ETF 0.6 60 -10 5.1 -5.1
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
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.6 36 14 6.9 -3.3
DFIC Dimensional International Core Equity 2 ETF 0.6 23 27 7.9 -2.3
FAN First Trust Global Wind Energy ETF 0.6 60 -10 5.3 -4.9
WNDY Global X Wind Energy ETF 0.6 50 0 3.2 -7.0
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 30 7.4 -2.8
BKIE BNY Mellon International Equity ETF 0.6 4 46 7.3 -2.9
AVDE Avantis International Equity ETF 0.6 23 27 8.0 -2.2
MXI iShares Global Materials ETF 0.6 41 9 8.0 -2.2
RFDI First Trust Riverfront Dynamic Developed International ETF 0.6 83 -33 10.0 -0.2
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.5 47 3 9.8 -0.4
AZTD Aztlan Global Stock Selection DM SMID ETF 0.5 75 -25 8.4 -1.8
SCHF Schwab International Equity ETF 0.5 6 44 7.7 -2.5
RNRG Global X Renewable Energy Producers ETF 0.5 66 -16 6.1 -4.1
PBD Invesco Global Clean Energy ETF 0.5 75 -25 0.4 -9.8
TAN Invesco Solar ETF 0.5 67 -17 8.6 -1.6
DFIS Dimensional International Small Cap ETF 0.5 39 11 7.9 -2.3
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 43 8.3 -1.9
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.5 20 30 6.6 -3.6
EFG iShares MSCI EAFE Growth ETF 0.5 36 14 4.5 -5.7
DTAN Sparkline International Intangible Value ETF 0.5 55 -5 7.2 -3.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.5 25 25 7.5 -2.7
AVIV Avantis International Large Cap Value ETF 0.5 25 25 9.3 -0.9
DISV Dimensional International Small Cap Value ETF 0.5 42 8 9.7 -0.5
VXUS Vanguard Total International Stock ETF 0.5 7 43 8.3 -1.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.5 30 20 7.3 -2.9
JHMD John Hancock Multifactor Developed International ETF 0.5 39 11 7.8 -2.4
VSGX Vanguard ESG International Stock ETF 0.5 12 38 8.2 -2.0
KXI iShares Global Consumer Staples ETF 0.4 41 9 5.4 -4.8
CRUZ Defiance Hotel Airline and Cruise ETF 0.4 45 5 3.1 -7.1
AIRL Themes Airlines ETF 0.4 35 15 -7.8 -18.0
IMFL Invesco International Developed Dynamic Multifactor ETF 0.4 34 16 6.2 -4.0
IMTM iShares MSCI Intl Momentum Factor ETF 0.4 30 20 5.6 -4.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.4 18 32 8.1 -2.1
DIV Global X SuperDividend US ETF 0.4 45 5 10.1 -0.1
NDIV Amplify Natural Resources Dividend Income ETF 0.4 59 -9 10.2 +0.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.4 20 30 6.0 -4.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 20 8.6 -1.6
GLOF iShares Global Equity Factor ETF 0.4 20 30 6.8 -3.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 16 8.1 -2.1
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 8 42 8.5 -1.7
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 20 8.2 -2.0
ZSB USCF Sustainable Battery Metals Strategy Fund 0.4 61 -11 17.4 +7.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 9 7.1 -3.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 38 5.1 -5.1
JSTC Adasina Social Justice All Cap Global ETF 0.3 89 -39 4.5 -5.7
OCEN IQ Clean Oceans ETF 0.3 45 5 5.7 -4.5
ESGG FlexShares STOXX Global ESG Select Index Fund 0.3 42 8 5.4 -4.8
CUT Invesco MSCI Global Timber ETF 0.2 61 -11 9.1 -1.1
IXP iShares Global Comm Services ETF 0.2 42 8 6.7 -3.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 41 6.1 -4.1
SMCF Themes US Small Cap Cash Flow Champions ETF 0.2 29 21 11.8 +1.6
KLMT Invesco MSCI Global Climate 500 ETF 0.2 10 40 6.1 -4.1
EXI iShares Global Industrials ETF 0.2 42 8 4.9 -5.3
IXG iShares Global Financials ETF 0.2 42 8 7.2 -3.0
VT Vanguard Total World Stock ETF 0.2 7 43 6.3 -3.9
IGRO iShares International Dividend Growth ETF 0.2 15 35 7.3 -2.9
TOK iShares MSCI Kokusai ETF 0.2 26 24 5.2 -5.0
KNCT Invesco Next Gen Connectivity ETF 0.2 40 10 5.1 -5.2
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 28 5.8 -4.4
URTH iShares MSCI World ETF 0.2 24 26 5.5 -4.7
QWLD SPDR MSCI World StrategicFactors ETF 0.2 30 20 5.9 -4.3
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 41 5.5 -4.7
ACWI iShares MSCI ACWI ETF 0.1 32 18 6.0 -4.2
VFVA Vanguard U.S. Value Factor ETF 0.1 13 37 11.7 +1.5
AFK VanEck Africa Index ETF 0.1 98 -48 12.6 +2.4
IFGL iShares International Developed Real Estate ETF 0.1 48 2 6.3 -3.9
BULD Pacer BlueStar Engineering the Future ETF 0.1 60 -10 2.0 -8.2
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.1 35 15 6.9 -3.3
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 40 7.5 -2.7
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 38 7.7 -2.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 30 5.5 -4.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.1 29 21 7.4 -2.8
ERET iShares Environmentally Aware Real Estate ETF 0.1 30 20 3.1 -7.1
IGPT Invesco AI and Next Gen Software ETF 0.0 60 -10 4.9 -5.3
RSSL Global X Russell 2000 ETF 0.0 8 42 3.6 -6.6
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.0 39 11 5.4 -4.8
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 29 4.3 -5.9

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 15.6 %
Divided by: Fwd. P/BV 1.5 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		 1.60
 
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.