Global X FTSE Portugal 20 ETF
ALTAR
Score™
6.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
15.6x P/Sales
ratio
0.6x
P/BV
ratio
1.3x Div.
yield
5.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X FTSE Portugal 20 ETF is an exchange-traded fund registered in the USA. The Fund seeks to track the performance of the FTSE Portugal 20 Index.

FUND BASICS
Category International Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Nov 13, 2013
Assets (mns) $15
Currency USD
Expense ratio 57 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 21
Wgt avg mkt cap (mns) $7,826
Large cap (>$10bn) 35.5%
Mid cap ($2-10bn) 24.0%
Small cap (<$2bn) 40.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EDP-ENERGIAS DE PORTUGAL SA 24.6 %
GALP ENERGIA SGPS SA-B SHRS 21.2 %
JERONIMO MARTINS 5.1 %
EDP RENOVAVEIS SA 5.1 %
REDES ENERGETICAS NACIONAIS 5.0 %
SONAE 4.6 %
ZON MULTIMEDIA SERVICOS DE T 4.4 %
CORTICEIRA AMORIM SGPS SA 4.1 %
PORTUCEL EMPRESA PRODUTORA 4.1 %
ALTRI SGPS SA 3.7 %
Total 81.8 %

TOP COUNTRY EXPOSURE
PORTUGAL 90.7 %
SPAIN 5.1 %
NETHERLANDS 2.4 %








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.
-21.1% -17.9% -2.7% -- -5.6%

Market Correlations
versus... Beta R-squared
S&P500 0.85 59%
MSCI EAFE 1.08 82%
MSCI Emg. Mkts. 0.80 70%

Technical Indicators
Recent close $9.07
30d moving avg. $8.50
Annualized volatility 18.5%
Short interest (ETF) 8.9%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 23
Turnover 1.4%
Bid/Ask (% of price) 1.73%
ADV underlying (mns) $170

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Global X FTSE Portugal 20 ETF ETF based on the alternatives' overlap in portfolio holdings with PGAL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PGAL Expense: 57 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PGAL
Ticker Fund
Name
Overlap1
vs PGAL
(%)
Expense
ratio
(bp)
Savings
vs PGAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs PGAL
(%)
GVAL Cambria Global Value ETF 9.8 69 -12 12.8 +5.9
YLCO Global X YieldCo Index ETF 6.5 65 -8 4.8 -2.1
CRAK VanEck Vectors Oil Refiners ETF 4.1 60 -3 13.2 +6.4
EFAS Global X MSCI SuperDividend EAFE ETF 3.6 55 2 11.5 +4.7
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 3.1 58 -1 8.8 +2.0
DOO WisdomTree International Dividend ex-Financials Fund 2.8 58 -1 9.7 +2.8
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 2.7 30 27 8.2 +1.3
SDIV Global X SuperDividend ETF 2.5 58 -1 19.9 +13.1
SMEZ SPDR EURO STOXX Small Cap ETF 2.4 45 12 6.0 -0.9
FAN First Trust Global Wind Energy ETF 2.2 60 -3 7.0 +0.1
FID First Trust S&P International Dividend Aristocrats ETF 2.1 60 -3 10.8 +4.0
IDOG ALPS International Sector Dividend Dogs ETF 2.1 50 7 12.3 +5.4
DWX SPDR S&P International Dividend ETF 1.9 45 12 8.7 +1.8
DFE WisdomTree Europe SmallCap Dividend Fund 1.9 58 -1 9.8 +3.0
FGD First Trust Dow Jones Global Select Dividend Index Fund 1.8 58 -1 11.7 +4.9
ECLN First Trust EIP Carbon Impact ETF 1.8 95 -38 4.0 -2.9
IDV iShares International Select Dividend ETF 1.7 49 8 14.1 +7.3
WDIV SPDR Global Dividend ETF 1.7 40 17 10.8 +3.9
RBIN Nationwide Risk-Based International Equity ETF 1.7 42 15 6.9 +0.1
DIM WisdomTree International MidCap Dividend Fund 1.5 58 -1 8.7 +1.8
JPEU JPMorgan Diversified Return Europe Equity ETF 1.5 37 20 7.6 +0.7
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 1.4 45 12 11.2 +4.3
FEUZ First Trust Eurozone AlphaDEX ETF 1.4 80 -23 8.8 +2.0
DLS WisdomTree International SmallCap Dividend Fund 1.2 58 -1 9.5 +2.7
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 1.2 43 14 9.6 +2.8
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 1.2 20 37 10.4 +3.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.2 58 -1 6.7 -0.2
SCID Global X Scientific Beta Europe ETF 1.1 38 19 7.8 +0.9
PBD Invesco Global Clean Energy ETF 1.0 75 -18 2.2 -4.6
HEDJ WisdomTree Europe Hedged Equity Fund 1.0 58 -1 7.9 +1.1
IDLV Invesco S&P International Developed Low Volatility ETF 0.9 25 32 7.4 +0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.9 25 32 7.4 +0.5
JXI iShares Global Utilities ETF 0.8 46 11 6.3 -0.5
JPIN JPMorgan Diversified Return International Equity ETF 0.7 38 19 8.8 +2.0
INFR Legg Mason Global Infrastructure ETF 0.7 40 17 6.7 -0.2
DTH WisdomTree DEFA Equity Income Fund 0.7 58 -1 10.8 +3.9
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.7 45 12 7.6 +0.8
FEP First Trust Europe AlphaDEX Fund 0.7 80 -23 9.0 +2.2
CUT Invesco MSCI Global Timber ETF 0.6 55 2 10.1 +3.3
EZU iShares MSCI Eurozone ETF 0.6 49 8 7.7 +0.9
EURZ Xtrackers Eurozone Equity ETF 0.6 9 48 8.1 +1.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 0.6 29 28 8.9 +2.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 0.6 20 37 12.1 +5.3
IQIN IQ 500 International ETF 0.6 25 32 10.5 +3.7
OEUR O'shares FTSE Europe Quality Dividend ETF 0.6 48 9 7.1 +0.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.6 29 28 9.7 +2.8
RFEU First Trust Riverfront Dynamic Europe ETF 0.5 83 -26 5.5 -1.4
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 0.5 24 33 8.0 +1.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.5 25 32 7.5 +0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.5 39 18 7.4 +0.6
JPGE JPMorgan Diversified Return Global Equity ETF 0.5 29 28 8.1 +1.2
IEUS iShares MSCI Europe Small-Cap ETF 0.5 40 17 7.9 +1.1
CIL VictoryShares International Volatility Weighted Index ETF 0.5 45 12 7.5 +0.7
RFDI First Trust Riverfront Dynamic Developed International ETF 0.5 83 -26 7.0 +0.2
FDT First Trust Developed Markets ex-US Alphadex Fund 0.5 80 -23 8.6 +1.8
EWN iShares MSCI Netherlands ETF 0.5 50 7 5.7 -1.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.4 58 -1 6.8 -0.0
DWM WisdomTree International Equity Fund 0.4 48 9 9.2 +2.4
IQDG WisdomTree International Quality Dividend Growth Fund 0.4 38 19 6.9 +0.1
QINT American Century Quality Diversified International ETF 0.4 39 18 6.6 -0.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.4 49 8 7.9 +1.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.4 35 22 9.5 +2.6
GLIF AGFiQ Global Infrastructure ETF 0.4 45 12 5.5 -1.3
IDMO Invesco S&P International Developed Momentum ETF 0.4 25 32 4.9 -1.9
FILL iShares MSCI Global Energy Producers ETF 0.4 39 18 6.7 -0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 0.4 30 27 7.8 +1.0
FNDC Schwab Fundamental International Small Co. Index ETF 0.4 39 18 8.1 +1.2
IDY Pacific Global International Equity Income ETF 0.4 39 18 9.8 +3.0
IXC iShares Global Energy ETF 0.4 46 11 5.9 -1.0
GRES IQ Global Resources ETF 0.4 77 -20 7.9 +1.0
GCOW Pacer Global High Dividend ETF 0.4 60 -3 11.7 +4.9
VGK Vanguard FTSE Europe ETF 0.4 8 49 8.2 +1.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 0.4 45 12 7.8 +0.9
IMTM iShares Edge MSCI Intl Momentum Factor ETF 0.4 30 27 5.2 -1.6
IEUR iShares Core MSCI Europe ETF 0.4 9 48 8.1 +1.2
FEU SPDR Portfolio Europe ETF 0.3 9 48 8.1 +1.2
BBEU JPMorgan BetaBuilders Europe ETF 0.3 9 48 8.1 +1.2
SCHC Schwab International Small-Cap Equity ETF 0.3 12 45 7.9 +1.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.3 14 43 7.7 +0.9
ISDX Invesco Strategic Developed ex-US ETF 0.3 23 34 8.5 +1.6
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 0.3 30 27 7.6 +0.7
FLEE Franklin FTSE Europe ETF 0.3 9 48 7.8 +0.9
FLEH Franklin FTSE Europe Hedged ETF 0.3 9 48 7.8 +0.9
LVIN Hartford Multifactor Low Volatility International Equity ETF 0.3 29 28 13.5 +6.7
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.3 45 12 7.4 +0.5
UIVM VictoryShares USAA MSCI International Value Momentum ETF 0.3 35 22 9.6 +2.7
TPIF Timothy Plan International ETF 0.3 62 -5 7.8 +1.0
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.3 11 46 7.7 +0.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.3 45 12 10.2 +3.3
SCZ iShares MSCI Eafe Small-Cap ETF 0.3 40 17 7.4 +0.5
FNDF Schwab Fundamental International Large Co. Index ETF 0.3 25 32 9.9 +3.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 0.2 45 12 7.5 +0.7
AVDV Avantis International Small Cap Value ETF 0.2 36 21 9.1 +2.3
ESGD iShares MSCI EAFE ESG Optimized ETF 0.2 20 37 8.0 +1.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 0.2 16 41 7.8 +1.0
EFG iShares MSCI EAFE Growth ETF 0.2 40 17 5.1 -1.7
GWX SPDR S&P International Small Cap ETF 0.2 40 17 6.8 -0.1
VYMI Vanguard International High Dividend Yield ETF 0.2 32 25 11.4 +4.6
ISDS Invesco Strategic Developed ex-US Small Company ETF 0.2 35 22 6.4 -0.4
IGRO iShares International Dividend Growth ETF 0.2 22 35 9.0 +2.2

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

  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:
Global X FTSE Portugal 20 ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.4 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 57 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.58
 
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.