Global X FTSE Portugal 20
ALTAR
Score™
6.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
14.8x P/Sales
ratio
0.7x
P/BV
ratio
1.5x Div.
yield
4.6%


  • 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) $22
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) $8,103
Large cap (>$10bn) 50.7%
Mid cap ($2-10bn) 22.3%
Small cap (<$2bn) 27.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GALP ENERGIA SGPS SA-B SHRS 23.4 %
EDP-ENERGIAS DE PORTUGAL SA 21.9 %
PORTUCEL EMPRESA PRODUTORA 4.9 %
CTT - CORREIOS DE PORTUGAL, SA 4.9 %
SONAE 4.6 %
EDP RENOVAVEIS SA 4.4 %
REDES ENERGETICAS NACIONAIS 4.3 %
BANCO COMERCIAL PORTUGUES S.A. 4.3 %
JERONIMO MARTINS 4.3 %
ALTRI SGPS SA 4.0 %
Total 81.0 %

TOP COUNTRY EXPOSURE
PORTUGAL 94.9 %
SPAIN 4.4 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.0% 3.4% 0.8% -- -3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.62 25%
MSCI EAFE 1.09 65%
MSCI Emg. Mkts. 0.73 48%

Technical Indicators
Recent close $10.96
30d moving avg. $10.48
Annualized volatility 15.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 80

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.4%
Bid/Ask (% of price) 0.80%
ADV underlying (mns) $93

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X FTSE Portugal 20 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™: 6.7%


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 8.1 69 -12 9.3 +2.6
YLCO Global X YieldCo & Renewable Energy Income 6.4 65 -8 5.0 -1.7
CRAK VanEck Vectors Oil Refiners 4.6 60 -3 12.7 +6.0
FDD First Trust STOXX European Select Dividend 3.4 57 0 7.6 +0.9
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 3.3 58 -1 7.5 +0.7
GHII Invesco S&P High Income Infrastructure 2.5 45 12 4.9 -1.9
IDHD Invesco S&P Intl Developed High Div Low Volatility 2.3 30 27 6.5 -0.2
DDEZ WisdomTree Dynamic Currency Hedged Europe Equity 2.2 43 14 6.8 +0.1
DOO WisdomTree Int'l Dividend Ex-Financials 2.2 58 -1 8.1 +1.4
EFAS Global X MSCI SuperDividend EAFE 2.2 55 2 8.5 +1.8
IDOG ALPS International Sector Dividend Dogs 2.1 50 7 7.4 +0.7
DWX SPDR S&P International Dividend ETF 2.1 45 12 7.0 +0.3
DFE WisdomTree Europe Small Cap Dividend 2.1 58 -1 9.3 +2.6
FID First Trust S&P International Dividend Aristocrats 1.8 60 -3 7.2 +0.5
FAN First Trust Global Wind 1.7 60 -3 5.7 -1.0
DDLS WisdomTree Dynamic Currency Hedged Int'l SmallCap 1.4 43 14 8.6 +1.9
WDIV SPDR S&P Global Dividend 1.3 40 17 7.5 +0.8
DLS WisdomTree Int'l SmallCap Dividend 1.3 58 -1 8.4 +1.7
RBIN Nationwide Risk-Based International Equity 1.3 42 15 7.4 +0.7
EUDG WisdomTree Europe Dividend 1.2 58 -1 6.5 -0.2

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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
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 10.4 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 57 bp
Equals: ALTAR Score 6.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.63
 
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.