Invesco Golden Dragon China ETF
ALTAR
Score™		 13.9% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.6x P/Sales
ratio		 1.1x
P/BV
ratio		 1.2x Div.
yield		 1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco Golden Dragon China Portfolio seeks investment results that correspond to the price and yield of the NASDAQ Golden Dragon China Index. The index is composed of US exchange-listed companies that are headquartered in China.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Dec 09, 2004
Assets (mns) $163
Currency USD
Expense ratio 70 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 49
Wgt avg mkt cap (mns) $44,889
Large cap (>$10bn) 67.1%
Mid cap ($2-10bn) 25.8%
Small cap (<$2bn) 6.7%
Developed mkts 5.8%
Emerging mkts 94.2%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 11.0 %
JD.COM INC-ADR 7.9 %
YUM CHINA HOLDINGS, INC. 7.5 %
TRIP.COM GROUP LTD. SPONSORED ADR 6.5 %
BAIDU INC - SPON ADR 5.9 %
KE HOLDINGS, INC. SPONSORED ADR CL 4.4 %
FULL TRUCK ALLIANCE CO LTD ADR 4.0 %
NETEASE.COM INC-ADR 4.0 %
TENCENT MUSIC ENTERTAINMENT GROUP 3.7 %
VIPSHOP HOLDINGS LTD SPONSORED ADR 3.4 %
Total 58.4 %

TOP COUNTRY EXPOSURE
CHINA 87.2 %
CANADA 0.3 %









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.
13.4% 24.6% -4.4% 2.0% 4.9%

Market Correlations
versus... Beta R-squared
S&P500 0.42 2%
MSCI EAFE 1.07 16%
MSCI Emg. Mkts. 2.04 59%

Technical Indicators
Recent close $29.70
30d moving avg. $30.54
Annualized volatility 46.2%
Short interest (ETF) 3.1%
Short interest (Underlying) 3.8%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 68
Turnover 1.2%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $2,525

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 208 potential alternatives to the Invesco Golden Dragon China ETF ETF based on the alternatives' overlap in portfolio holdings with PGJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PGJ Expense: 70 bp ALTAR Score™: 13.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PGJ
Ticker Fund
Name		 Overlap1
vs PGJ
(%)		 Expense
ratio
(bp)		 Savings
vs PGJ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PGJ
(%)
EBIZ Global X E-Commerce ETF 22.7 50 20 4.3 -9.6
KWEB KraneShares CSI China Internet ETF 20.9 69 1 25.8 +11.9
CGRO CoreValues Alpha Greater China Growth ETF 19.3 75 -5 4.0 -9.9
SOCL Global X Social Media ETF 14.1 65 5 12.9 -1.0
DINT Davis Select International ETF 13.5 55 15 8.3 -5.6
ISHP First Trust Nasdaq Retail ETF 12.3 60 10 5.5 -8.4
BOUT Innovator IBD Breakout Opportunities ETF 10.0 81 -11 4.8 -9.2
ONLN ProShares Online Retail ETF 9.9 58 12 2.6 -11.3
LIVR Intelligent Livermore ETF 9.4 69 1 8.2 -5.7
HAIL SPDR S&P Kensho Smart Mobility ETF 8.9 45 25 2.0 -11.9
DWLD Davis Select Worldwide ETF 8.5 63 7 8.5 -5.4
TCHI iShares MSCI China Multisector Tech ETF 8.1 59 11 22.4 +8.5
SMOG VanEck Low Carbon Energy ETF 8.0 61 9 1.5 -12.4
CHIQ Global X MSCI China Consumer Discretionary ETF 8.0 65 5 13.7 -0.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 7.7 15 55 8.6 -5.3
BNGE First Trust S-Network Streaming and Gaming ETF 7.1 70 0 3.6 -10.3
ECOW Pacer Emerging Markets Cash Cows 100 ETF 6.9 70 0 15.8 +1.9
MINV Matthews Asia Innovators Active ETF 6.6 79 -9 7.7 -6.2
CCSO Carbon Collective Climate Solutions US Equity ETF 6.1 35 35 1.9 -12.0
EMC Global X Emerging Markets Great Consumer ETF 6.1 75 -5 8.5 -5.5
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 5.9 68 2 2.7 -11.2
AVEM Avantis Emerging Markets Equity ETF 5.9 33 37 9.7 -4.2
PNQI Invesco NASDAQ Internet ETF 5.8 60 10 3.8 -10.1
BATT Amplify Lithium & Battery Technology ETF 5.7 59 11 3.8 -10.1
PBW Invesco WilderHill Clean Energy ETF 5.7 66 4 -6.0 -19.9
BEDZ AdvisorShares Hotel ETF 5.5 100 -30 2.5 -11.4
VICE AdvisorShares Vice ETF 5.4 99 -29 6.2 -7.7
HERO Global X Video Games & Esports ETF 5.4 50 20 4.6 -9.3
RTH VanEck Retail ETF 5.4 35 35 5.3 -8.6
LEGR First Trust Indxx Innovative Transaction & Process ETF 5.4 65 5 8.6 -5.4
AADR AdvisorShares Dorsey Wright ADR ETF 5.3 110 -40 5.1 -8.8
DRIV Global X Autonomous & Electric Vehicles ETF 5.2 68 2 6.8 -7.1
XNTK SPDR NYSE Technology ETF 4.9 35 35 4.4 -9.5
AIQ Global X Artificial Intelligence & Technology ETF 4.8 68 2 4.7 -9.2
QQQJ Invesco NASDAQ Next Gen 100 ETF 4.7 15 55 5.7 -8.2
ECNS iShares MSCI China Small-Cap ETF 4.7 59 11 10.8 -3.1
AWAY ETFMG Travel Tech ETF 4.6 76 -6 0.0 -13.9
OGIG ALPS O'Shares Global Internet Giants ETF 4.4 48 22 1.9 -12.0
PTEC Global X PropTech ETF 4.4 50 20 2.5 -11.4
EATZ AdvisorShares Restaurant ETF 4.4 101 -31 5.7 -8.2
JCHI JPMorgan Active China ETF 4.4 65 5 16.8 +2.9
TRFM AAM Transformers ETF 4.4 49 21 1.9 -12.0
GINN Goldman Sachs Innovate Equity ETF 4.2 52 18 4.4 -9.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.2 40 30 5.6 -8.3
KOMP SPDR S&P Kensho New Economies Composite ETF 4.2 20 50 3.7 -10.2
APIE ActivePassive International Equity ETF 4.0 45 25 7.7 -6.2
ESPO VanEck Video Gaming and eSports ETF 4.0 56 14 4.8 -9.1
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 4.0 75 -5 5.9 -8.0
METV Roundhill Ball Metaverse ETF 4.0 59 11 8.3 -5.7
QTUM Defiance Quantum ETF 3.9 40 30 7.7 -6.2
MEM Matthews Emerging Markets Equity Active ETF 3.9 79 -9 8.5 -5.4
QQJG Invesco ESG NASDAQ Next Gen 100 ETF 3.8 20 50 4.5 -9.4
FFTY Innovator IBD 50 ETF 3.8 80 -10 -2.5 -16.4
MCH Matthews China Active ETF 3.7 79 -9 15.3 +1.4
NEWZ StockSnips AI-Powered Sentiment US All Cap ETF 3.5 65 5 5.0 -8.9
KALL KraneShares MSCI All China Index ETF 3.4 49 21 15.3 +1.4
BINV Brandes International ETF 3.4 70 0 9.5 -4.4
GXC SPDR S&P China ETF 3.3 59 11 16.7 +2.8
ODDS Pacer BlueStar Digital Entertainment ETF 3.3 60 10 4.9 -9.0
PBD Invesco Global Clean Energy ETF 3.3 75 -5 0.4 -13.5
FPXI First Trust International Equity Opportunities ETF 3.2 70 0 3.9 -10.1
ADIV SmartETFs Asia Pacific Dividend Builder ETF 3.2 78 -8 9.6 -4.3
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 3.1 72 -2 -1.2 -15.1
MCHI iShares MSCI China ETF 3.0 59 11 17.8 +3.9
TMFG Motley Fool Global Opportunities ETF 3.0 85 -15 3.5 -10.4
CARZ First Trust NASDAQ Global Auto Index Fund 2.9 70 0 6.0 -7.9
MOTI VanEck Morningstar International Moat ETF 2.8 58 12 12.8 -1.1
DTCR Global X Data Center & Digital Infrastructure ETF 2.6 50 20 1.7 -12.2
GVIP Goldman Sachs Hedge Industry VIP ETF 2.6 45 25 3.0 -10.9
FLCH Franklin FTSE China ETF 2.5 19 51 17.2 +3.3
AVES Avantis Emerging Markets Value ETF 2.5 36 34 12.2 -1.7
TMAT Main Thematic Innovation ETF 2.4 164 -94 -1.5 -15.4
SFYF SoFi Social 50 ETF 2.3 29 41 0.1 -13.8
JIG JPMorgan International Growth ETF 2.3 55 15 4.8 -9.1
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 2.3 65 5 3.5 -10.4
SIMS SPDR S&P Kensho Intelligent Structures ETF 2.2 45 25 7.7 -6.2
FDCF Fidelity Disruptive Communications ETF 2.2 50 20 3.3 -10.6
LYLD Cambria Large Cap Shareholder Yield ETF 2.1 59 11 9.8 -4.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.1 86 -16 13.7 -0.2
TTAI FCF International Quality ETF 2.1 59 11 6.9 -7.0
CRUZ Defiance Hotel Airline and Cruise ETF 2.0 45 25 3.1 -10.8
IBUY Amplify Online Retail ETF 1.9 65 5 3.7 -10.3
SRVR Pacer Data & Infrastructure Real Estate ETF 1.9 55 15 1.1 -12.8
CLOU Global X Cloud Computing ETF 1.9 68 2 1.9 -12.0
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.8 61 9 1.4 -12.5
FDLS Inspire Fidelis Multi Factor ETF 1.8 76 -6 5.8 -8.2
BKF iShares MSCI BIC ETF 1.8 69 1 13.0 -0.9
EMXF iShares ESG Advanced MSCI EM ETF 1.8 16 54 8.4 -5.5
NUEM Nuveen ESG Emerging Markets Equity ETF 1.7 36 34 8.1 -5.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 1.6 32 38 17.8 +3.9
FDNI First Trust Dow Jones International Internet ETF 1.6 65 5 19.5 +5.6
LDEM iShares ESG MSCI EM Leaders ETF 1.5 17 53 12.9 -1.0
GURU Global X Guru Index ETF 1.5 75 -5 4.2 -9.7
FDEM Fidelity Emerging Markets Multifactor ETF 1.5 25 45 13.5 -0.4
EMMF WisdomTree Emerging Markets Multifactor Fund 1.5 48 22 7.8 -6.1
CQQQ Invesco China Technology ETF 1.4 70 0 18.3 +4.4
VERS ProShares Metaverse ETF 1.4 58 12 0.1 -13.8
CTEC Global X CleanTech ETF 1.4 50 20 2.2 -11.7
TAN Invesco Solar ETF 1.4 67 3 8.6 -5.3
CNRG SPDR S&P Kensho Clean Power ETF 1.4 45 25 -0.1 -14.0
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 21 10.0 -3.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.3 30 40 10.6 -3.3
UMMA Wahed Dow Jones Islamic World ETF 1.2 65 5 5.3 -8.6
EEMA iShares MSCI Emerging Markets Asia ETF 1.2 49 21 10.7 -3.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.2 66 4 10.2 -3.8
BLOK Amplify Transformational Data Sharing ETF 1.1 75 -5 0.4 -13.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 50 20 11.6 -2.3
FMET Fidelity Metaverse ETF 1.1 39 31 5.1 -8.8
CCNR ALPS CoreCommodity Natural Resources ETF 1.1 39 31 11.0 -2.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.1 70 0 9.8 -4.1
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.1 75 -5 3.5 -10.4
DFAE Dimensional Emerging Core Equity Market ETF 1.1 35 35 10.2 -3.7
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 63 10.9 -3.0
MOTG VanEck Morningstar Global Wide Moat ETF 1.0 52 18 6.7 -7.2
JETS U.S. Global Jets ETF 1.0 60 10 4.2 -9.8
IQSM IQ Candriam U.S. Mid Cap Equity ETF 1.0 15 55 5.8 -8.1
BBP Virtus LifeSci Biotech Products ETF 1.0 79 -9 -2.9 -16.8
FMED Fidelity Disruptive Medicine ETF 1.0 50 20 -1.1 -15.0
SBIO ALPS Medical Breakthroughs ETF 1.0 50 20 -1.9 -15.8
CANC Tema Oncology ETF 1.0 75 -5 -2.0 -15.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.0 41 29 9.4 -4.5
EWX SPDR S&P Emerging Markets Small Cap ETF 1.0 65 5 8.1 -5.8
TIME Clockwise Core Equity & Innovation ETF 1.0 95 -25 8.1 -5.8
PKW Invesco Buyback Achievers ETF 1.0 62 8 8.0 -6.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.0 59 11 13.7 -0.2
EEM iShares MSCI Emerging Markets ETF 0.9 69 1 10.7 -3.2
JHEM John Hancock Multifactor Emerging Markets ETF 0.9 49 21 10.5 -3.4
JOET Virtus Terranova US Quality Momentum ETF 0.9 29 41 5.3 -8.6
CGGO Capital Group Global Growth Equity ETF 0.9 47 23 5.0 -8.9
FLAX Franklin FTSE Asia Ex Japan ETF 0.9 19 51 10.8 -3.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.9 45 25 11.0 -2.9
QQQS Invesco NASDAQ Future Gen 200 ETF 0.9 20 50 -9.4 -23.3
IEMG iShares Core MSCI Emerging Markets ETF 0.9 9 61 10.9 -3.0
ESGE iShares ESG Aware MSCI EM ETF 0.9 25 45 10.7 -3.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.9 35 35 21.6 +7.7
PXH Invesco FTSE RAFI Emerging Markets ETF 0.9 49 21 16.7 +2.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.8 39 31 16.9 +3.0
DFEV Dimensional Emerging Markets Value ETF 0.8 43 27 14.5 +0.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.8 60 10 13.3 -0.6
FCLD Fidelity Cloud Computing ETF 0.8 39 31 3.0 -10.9
SPAM Themes Cybersecurity ETF 0.8 35 35 1.7 -12.2
DGT SPDR Global Dow ETF 0.7 50 20 8.1 -5.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.7 38 32 9.9 -4.0
FRNW Fidelity Clean Energy ETF 0.7 39 31 4.2 -9.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.7 36 34 11.2 -2.7
GINX SGI Enhanced Global Income ETF 0.7 98 -28 7.3 -6.6
VWO Vanguard FTSE Emerging Markets ETF 0.7 8 62 10.9 -3.0
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 23 9.5 -4.4
ETEC iShares Breakthrough Environmental Solutions ETF 0.7 47 23 5.8 -8.1
EDIV SPDR S&P Emerging Markets Dividend ETF 0.7 49 21 11.6 -2.3
KGRN KraneShares MSCI China Clean Technology Index ETF 0.7 79 -9 3.8 -10.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.6 33 37 10.6 -3.3
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.6 70 0 7.8 -6.1
WFH Direxion Work From Home ETF 0.6 45 25 4.8 -9.1
SCHE Schwab Emerging Markets Equity ETF 0.6 11 59 11.6 -2.4
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.6 4 66 6.1 -7.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.5 30 40 9.3 -4.6
CLNR IQ Cleaner Transport ETF 0.5 45 25 7.3 -6.7
CWI SPDR MSCI ACWI ex-US ETF 0.5 30 40 8.2 -5.7
RGEF Rockefeller Global Equity ETF 0.5 55 15 5.2 -8.7
JGRO JPMorgan Active Growth ETF 0.5 44 26 4.0 -9.9
EEMO Invesco S&P Emerging Markets Momentum ETF 0.5 29 41 6.2 -7.7
CVAR Cultivar ETF 0.5 87 -17 6.1 -7.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.5 49 21 6.0 -7.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.4 47 23 9.0 -4.9
ONEQ Fidelity Nasdaq Composite Index ETF 0.4 21 49 4.3 -9.6
ECON Columbia Emerging Markets Consumer ETF 0.4 49 21 12.9 -1.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 40 8.6 -5.3
EMGF iShares Emerging Markets Equity Factor ETF 0.4 25 45 12.4 -1.5
ERTH Invesco MSCI Sustainable Future ETF 0.4 62 8 2.5 -11.4
CVY Invesco Zacks Multi-Asset Income ETF 0.4 106 -36 10.9 -3.0
JGLO JPMorgan Global Select Equity ETF 0.4 33 37 5.1 -8.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 55 10.8 -3.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.3 32 38 9.6 -4.3
IBB iShares Biotechnology ETF 0.3 45 25 0.8 -13.1
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 0.3 79 -9 5.9 -8.0
RAYS Global X Solar ETF 0.3 51 19 6.3 -7.7
FBCG Fidelity Blue Chip Growth ETF 0.3 59 11 3.5 -10.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.3 34 36 8.1 -5.8
BKEM BNY Mellon Emerging Markets Equity ETF 0.3 11 59 11.8 -2.1
IXUS iShares Core MSCI Total International Stock ETF 0.3 7 63 8.3 -5.6
ICLN iShares Global Clean Energy ETF 0.3 41 29 6.4 -7.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.3 41 29 7.1 -6.8
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.2 50 20 6.5 -7.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 61 6.0 -7.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 52 8.1 -5.8
VXUS Vanguard Total International Stock ETF 0.2 7 63 8.3 -5.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 7 63 7.0 -6.9
DEHP Dimensional Emerging Markets High Profitability ETF 0.2 41 29 6.5 -7.4
IBBQ Invesco Nasdaq Biotechnology ETF 0.2 19 51 2.1 -11.8
JAVA JPMorgan Active Value ETF 0.2 44 26 6.8 -7.1
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 62 8.5 -5.4
VSGX Vanguard ESG International Stock ETF 0.2 12 58 8.2 -5.7
TAX Cambria Tax Aware ETF 0.1 49 21 8.0 -5.9
ACWI iShares MSCI ACWI ETF 0.1 32 38 6.1 -7.8
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 45 6.5 -7.4
VT Vanguard Total World Stock ETF 0.1 7 63 6.4 -7.5
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 35 4.5 -9.4
GWX SPDR S&P International Small Cap ETF 0.1 40 30 6.7 -7.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 31 6.3 -7.6
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.1 47 23 9.8 -4.2
VYMI Vanguard International High Dividend Yield ETF 0.0 22 48 10.0 -3.9
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.0 11 59 5.5 -8.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 50 6.3 -7.6
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -19 4.5 -9.4
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 67 7.5 -6.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 58 5.2 -8.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 31 7.0 -6.9

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:		 Invesco Golden Dragon China 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 17.5 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 13.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.42 CATEGORY
AVERAGE		 1.50
 
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.