Invesco Golden Dragon China ETF
ALTAR
Score™		 15.0% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.1x P/Sales
ratio		 1.0x
P/BV
ratio		 1.1x Div.
yield		 1.4%


  • 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) $142
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) $37,928
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 7.8 %
YUM CHINA HOLDINGS, INC. 7.4 %
JD.COM INC-ADR 6.8 %
BAIDU INC - SPON ADR 6.6 %
KE HOLDINGS, INC. SPONSORED ADR CL 6.5 %
TENCENT MUSIC ENTERTAINMENT GROUP 5.5 %
NETEASE.COM INC-ADR 5.2 %
FULL TRUCK ALLIANCE CO LTD ADR 4.1 %
KANZHUN LTD. SPONSORED ADR 3.4 %
LI AUTO, INC. SPONSORED ADR CLASS 3.4 %
Total 56.6 %

TOP COUNTRY EXPOSURE
CHINA 87.2 %
CANADA 0.4 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.6% 12.6% -6.9% -0.7% 4.4%

Market Correlations
versus... Beta R-squared
S&P500 0.44 3%
MSCI EAFE 1.07 16%
MSCI Emg. Mkts. 2.01 57%

Technical Indicators
Recent close $27.37
30d moving avg. $27.68
Annualized volatility 45.8%
Short interest (ETF) 0.7%
Short interest (Underlying) 3.8%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 57
Turnover 1.1%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $2,525

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 209 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™: 15.0%


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
(%)
KWEB KraneShares CSI China Internet ETF 21.2 69 1 28.4 +13.4
EBIZ Global X E-Commerce ETF 16.9 50 20 4.4 -10.7
SOCL Global X Social Media ETF 16.5 65 5 12.4 -2.6
CGRO CoreValues Alpha Greater China Growth ETF 11.3 75 -5 4.3 -10.7
ONLN ProShares Online Retail ETF 9.9 58 12 3.5 -11.6
ISHP First Trust Nasdaq Retail ETF 9.4 60 10 6.0 -9.0
DINT Davis Select International ETF 8.8 55 15 8.3 -6.7
BNGE First Trust S-Network Streaming and Gaming ETF 8.7 70 0 3.2 -11.9
HAIL SPDR S&P Kensho Smart Mobility ETF 8.2 45 25 2.7 -12.3
TCHI iShares MSCI China Multisector Tech ETF 8.1 59 11 22.0 +7.0
SMOG VanEck Low Carbon Energy ETF 8.0 61 9 1.6 -13.4
CHIQ Global X MSCI China Consumer Discretionary ETF 7.1 65 5 15.5 +0.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 6.9 15 55 8.6 -6.5
CCSO Carbon Collective Climate Solutions US Equity ETF 6.7 35 35 1.2 -13.8
HERO Global X Video Games & Esports ETF 6.6 50 20 4.2 -10.8
PTEC Global X PropTech ETF 6.5 50 20 1.7 -13.4
FPXI First Trust International Equity Opportunities ETF 6.1 70 0 3.6 -11.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 6.0 70 0 15.5 +0.5
VICE AdvisorShares Vice ETF 5.9 99 -29 6.4 -8.6
AVEM Avantis Emerging Markets Equity ETF 5.7 33 37 9.5 -5.5
ESPO VanEck Video Gaming and eSports ETF 5.2 56 14 4.4 -10.7
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 5.1 75 -5 5.2 -9.8
DRIV Global X Autonomous & Electric Vehicles ETF 4.6 68 2 6.9 -8.1
BATT Amplify Lithium & Battery Technology ETF 4.5 59 11 3.8 -11.3
EATZ AdvisorShares Restaurant ETF 4.4 101 -31 6.4 -8.6
JCHI JPMorgan Active China ETF 4.4 65 5 16.5 +1.4
GINN Goldman Sachs Innovate Equity ETF 4.4 52 18 4.2 -10.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.2 40 30 7.3 -7.7
ECNS iShares MSCI China Small-Cap ETF 4.2 59 11 10.6 -4.5
AADR AdvisorShares Dorsey Wright ADR ETF 4.1 110 -40 5.1 -9.9
XNTK SPDR NYSE Technology ETF 3.9 35 35 4.1 -11.0
AIQ Global X Artificial Intelligence & Technology ETF 3.9 68 2 4.3 -10.8
KOMP SPDR S&P Kensho New Economies Composite ETF 3.8 20 50 3.6 -11.5
ODDS Pacer BlueStar Digital Entertainment ETF 3.5 60 10 2.3 -12.8
PNQI Invesco NASDAQ Internet ETF 3.5 60 10 3.6 -11.5
PBW Invesco WilderHill Clean Energy ETF 3.5 66 4 -5.3 -20.4
KALL KraneShares MSCI All China Index ETF 3.4 49 21 14.9 -0.2
BINV Brandes International ETF 3.4 70 0 9.8 -5.2
ABLG Abacus FCF International Leaders ETF 3.3 59 11 6.2 -8.8
DWLD Davis Select Worldwide ETF 3.3 63 7 7.7 -7.3
LEGR First Trust Indxx Innovative Transaction & Process ETF 3.3 65 5 8.2 -6.8
RTH VanEck Retail ETF 3.2 35 35 5.3 -9.7
ADIV SmartETFs Asia Pacific Dividend Builder ETF 3.2 78 -8 9.8 -5.3
QTUM Defiance Quantum ETF 3.1 40 30 6.6 -8.5
MINV Matthews Asia Innovators Active ETF 3.0 79 -9 7.8 -7.2
GXC SPDR S&P China ETF 3.0 59 11 17.5 +2.5
APIE ActivePassive International Equity ETF 3.0 45 25 7.6 -7.5
MCHI iShares MSCI China ETF 2.8 59 11 18.9 +3.9
METV Roundhill Ball Metaverse ETF 2.8 59 11 7.4 -7.6
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.8 72 -2 -0.9 -15.9
PBD Invesco Global Clean Energy ETF 2.8 75 -5 0.5 -14.5
MCH Matthews China Active ETF 2.7 79 -9 16.3 +1.3
FFTY Innovator IBD 50 ETF 2.7 80 -10 -0.4 -15.4
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 2.7 68 2 0.3 -14.7
GVIP Goldman Sachs Hedge Industry VIP ETF 2.6 45 25 3.5 -11.6
QQQJ Invesco NASDAQ Next Gen 100 ETF 2.6 15 55 5.5 -9.5
FLCH Franklin FTSE China ETF 2.5 19 51 17.9 +2.8
MEM Matthews Emerging Markets Equity Active ETF 2.5 79 -9 8.5 -6.6
OGIG ALPS O'Shares Global Internet Giants ETF 2.5 48 22 1.6 -13.4
AVES Avantis Emerging Markets Value ETF 2.5 36 34 12.0 -3.1
PXH Invesco FTSE RAFI Emerging Markets ETF 2.4 49 21 17.0 +1.9
TMFG Motley Fool Global Opportunities ETF 2.3 85 -15 3.8 -11.2
JIG JPMorgan International Growth ETF 2.3 55 15 4.7 -10.3
TMAT Main Thematic Innovation ETF 2.3 164 -94 -1.5 -16.6
DTCR Global X Data Center & Digital Infrastructure ETF 2.2 50 20 4.7 -10.3
SRVR Pacer Data & Infrastructure Real Estate ETF 2.2 55 15 3.8 -11.2
FDCF Fidelity Disruptive Communications ETF 2.2 50 20 3.4 -11.7
CARZ First Trust NASDAQ Global Auto Index Fund 2.1 70 0 6.1 -8.9
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.1 86 -16 14.1 -1.0
MOTI VanEck Morningstar International Moat ETF 2.1 58 12 12.8 -2.2
TTAI FCF International Quality ETF 2.1 59 11 7.1 -7.9
FDNI First Trust Dow Jones International Internet ETF 2.0 65 5 19.9 +4.8
EMC Global X Emerging Markets Great Consumer ETF 2.0 75 -5 8.4 -6.6
SIMS SPDR S&P Kensho Intelligent Structures ETF 1.9 45 25 6.6 -8.5
QQJG Invesco ESG NASDAQ Next Gen 100 ETF 1.9 20 50 5.2 -9.9
LYLD Cambria Large Cap Shareholder Yield ETF 1.8 59 11 10.1 -4.9
NUEM Nuveen ESG Emerging Markets Equity ETF 1.7 36 34 8.2 -6.9
TRFM AAM Transformers ETF 1.7 49 21 1.8 -13.3
MOTG VanEck Morningstar Global Wide Moat ETF 1.6 52 18 6.8 -8.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 1.6 32 38 19.0 +4.0
BKF iShares MSCI BIC ETF 1.6 69 1 13.8 -1.3
SFYF SoFi Social 50 ETF 1.6 29 41 0.2 -14.8
FDLS Inspire Fidelis Multi Factor ETF 1.5 76 -6 5.2 -9.9
IBUY Amplify Online Retail ETF 1.5 65 5 3.0 -12.0
FDEM Fidelity Emerging Markets Multifactor ETF 1.5 25 45 13.6 -1.5
EMMF WisdomTree Emerging Markets Multifactor Fund 1.5 48 22 8.1 -6.9
EMXF iShares ESG Advanced MSCI EM ETF 1.4 16 54 8.6 -6.4
VERS ProShares Metaverse ETF 1.4 58 12 -0.3 -15.4
CTEC Global X CleanTech ETF 1.3 50 20 3.1 -11.9
TAN Invesco Solar ETF 1.3 67 3 8.7 -6.4
CNRG SPDR S&P Kensho Clean Power ETF 1.3 45 25 0.7 -14.3
GURU Global X Guru Index ETF 1.2 75 -5 4.1 -10.9
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.2 65 5 3.3 -11.8
LDEM iShares ESG MSCI EM Leaders ETF 1.2 17 53 14.0 -1.0
CLOU Global X Cloud Computing ETF 1.2 68 2 2.0 -13.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.2 66 4 10.5 -4.5
ARKQ ARK Autonomous Technology & Robotics ETF 1.2 75 -5 0.5 -14.5
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.2 61 9 1.5 -13.6
RGEF Rockefeller Global Equity ETF 1.2 55 15 5.1 -10.0
FMET Fidelity Metaverse ETF 1.1 39 31 5.2 -9.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 50 20 11.9 -3.2
GMF SPDR S&P Emerging Asia Pacific ETF 1.1 49 21 10.1 -5.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.1 30 40 10.9 -4.2
BBP Virtus LifeSci Biotech Products ETF 1.1 79 -9 -5.1 -20.1
FMED Fidelity Disruptive Medicine ETF 1.1 50 20 -1.1 -16.2
SBIO ALPS Medical Breakthroughs ETF 1.1 50 20 0.0 -15.0
CANC Tema Oncology ETF 1.1 75 -5 -2.6 -17.6
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.1 75 -5 3.3 -11.8
EEMA iShares MSCI Emerging Markets Asia ETF 1.1 49 21 10.9 -4.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.0 41 29 9.5 -5.5
DFAE Dimensional Emerging Core Equity Market ETF 1.0 35 35 10.2 -4.9
CCNR ALPS CoreCommodity Natural Resources ETF 1.0 39 31 12.0 -3.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.0 70 0 9.9 -5.1
IQSM IQ Candriam U.S. Mid Cap Equity ETF 1.0 15 55 6.3 -8.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.0 59 11 12.3 -2.7
CQQQ Invesco China Technology ETF 0.9 70 0 19.5 +4.5
JHEM John Hancock Multifactor Emerging Markets ETF 0.9 49 21 10.7 -4.4
JOET Virtus Terranova US Quality Momentum ETF 0.9 29 41 4.9 -10.2
DEHP Dimensional Emerging Markets High Profitability ETF 0.9 41 29 7.2 -7.9
FLAX Franklin FTSE Asia Ex Japan ETF 0.9 19 51 10.0 -5.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.9 45 25 11.1 -4.0
SPEM SPDR Portfolio Emerging Markets ETF 0.9 7 63 11.0 -4.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.9 39 31 17.2 +2.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.8 65 5 8.3 -6.8
EEM iShares MSCI Emerging Markets ETF 0.8 69 1 10.8 -4.2
QQQS Invesco NASDAQ Future Gen 200 ETF 0.8 20 50 -3.7 -18.7
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.8 60 10 12.7 -2.3
IEMG iShares Core MSCI Emerging Markets ETF 0.8 9 61 11.0 -4.0
ARKW ARK Next Generation Internet ETF 0.8 87 -17 -0.6 -15.7
FRNW Fidelity Clean Energy ETF 0.8 39 31 4.4 -10.7
PKW Invesco Buyback Achievers ETF 0.7 62 8 7.8 -7.3
GINX SGI Enhanced Global Income ETF 0.7 98 -28 7.4 -7.7
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.7 35 35 20.9 +5.9
ESGE iShares ESG Aware MSCI EM ETF 0.7 25 45 10.7 -4.3
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.7 38 32 10.0 -5.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.7 36 34 10.4 -4.6
VAMO Cambria Value & Momentum ETF 0.7 61 9 6.8 -8.2
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 23 9.3 -5.8
ICLN iShares Global Clean Energy ETF 0.6 41 29 6.2 -8.9
UMMA Wahed Dow Jones Islamic World ETF 0.6 65 5 5.3 -9.8
VWO Vanguard FTSE Emerging Markets ETF 0.6 8 62 11.1 -4.0
DGT SPDR Global Dow ETF 0.6 50 20 7.4 -7.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.6 33 37 10.7 -4.4
WFH Direxion Work From Home ETF 0.6 45 25 3.9 -11.2
KGRN KraneShares MSCI China Clean Technology Index ETF 0.6 79 -9 3.8 -11.3
EDIV SPDR S&P Emerging Markets Dividend ETF 0.6 49 21 11.9 -3.2
ETEC iShares Breakthrough Environmental Solutions ETF 0.6 47 23 3.9 -11.2
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.6 4 66 6.5 -8.5
CLNR IQ Cleaner Transport ETF 0.5 45 25 6.9 -8.1
JGRO JPMorgan Active Growth ETF 0.5 44 26 3.7 -11.4
CVAR Cultivar ETF 0.5 87 -17 7.3 -7.7
SCHE Schwab Emerging Markets Equity ETF 0.5 11 59 11.8 -3.2
FCLD Fidelity Cloud Computing ETF 0.5 39 31 3.2 -11.9
SPAM Themes Cybersecurity ETF 0.5 35 35 2.0 -13.1
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.5 70 0 7.8 -7.2
DFEV Dimensional Emerging Markets Value ETF 0.5 43 27 14.1 -1.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.5 30 40 10.2 -4.8
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 40 7.9 -7.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.4 47 23 8.5 -6.5
ECON Columbia Emerging Markets Consumer ETF 0.4 49 21 13.3 -1.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 21 6.4 -8.7
EMGF iShares Emerging Markets Equity Factor ETF 0.4 25 45 12.3 -2.7
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 0.4 79 -9 5.7 -9.3
RAYS Global X Solar ETF 0.4 51 19 6.5 -8.5
CVY Invesco Zacks Multi-Asset Income ETF 0.4 106 -36 12.6 -2.4
BOUT Innovator IBD Breakout Opportunities ETF 0.4 81 -11 3.1 -12.0
JGLO JPMorgan Global Select Equity ETF 0.4 33 37 5.2 -9.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 55 10.9 -4.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.3 32 38 9.7 -5.3
ONEQ Fidelity Nasdaq Composite Index ETF 0.3 21 49 4.1 -11.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.3 30 40 8.3 -6.7
EEMO Invesco S&P Emerging Markets Momentum ETF 0.3 29 41 6.8 -8.2
SIXG Defiance Connective Technologies ETF 0.3 30 40 4.3 -10.7
IBB iShares Biotechnology ETF 0.3 45 25 0.9 -14.1
BKEM BNY Mellon Emerging Markets Equity ETF 0.3 11 59 10.6 -4.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.3 34 36 7.9 -7.1
FBCG Fidelity Blue Chip Growth ETF 0.3 59 11 3.2 -11.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.3 41 29 7.8 -7.3
ERTH Invesco MSCI Sustainable Future ETF 0.3 62 8 3.6 -11.4
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 63 8.1 -6.9
IBBQ Invesco Nasdaq Biotechnology ETF 0.2 19 51 0.8 -14.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 52 8.0 -7.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 7 63 7.0 -8.0
JAVA JPMorgan Active Value ETF 0.2 44 26 6.7 -8.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 61 6.1 -9.0
VXUS Vanguard Total International Stock ETF 0.2 7 63 8.2 -6.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 62 8.3 -6.7
VSGX Vanguard ESG International Stock ETF 0.1 12 58 8.0 -7.1
FDRV Fidelity Electric Vehicles and Future Transportation ETF 0.1 39 31 -1.3 -16.3
IQM Franklin Intelligent Machines ETF 0.1 50 20 2.3 -12.7
BOTZ Global X Robotics & Artificial Intelligence ETF 0.1 69 1 2.5 -12.5
XITK SPDR FactSet Innovative Technology ETF 0.1 45 25 0.4 -14.6
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.1 80 -10 11.9 -3.2
ACWI iShares MSCI ACWI ETF 0.1 32 38 5.9 -9.2
VYMI Vanguard International High Dividend Yield ETF 0.1 22 48 9.8 -5.3
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 45 6.5 -8.5
VT Vanguard Total World Stock ETF 0.1 7 63 6.2 -8.8
GWX SPDR S&P International Small Cap ETF 0.1 40 30 6.5 -8.5
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 31 6.1 -9.0
XMAG Defiance Large Cap ex-Mag 7 ETF 0.0 35 35 5.4 -9.7
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.0 11 59 5.2 -9.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 50 6.0 -9.1
GLOF iShares Global Equity Factor ETF 0.0 20 50 6.9 -8.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.0 49 21 7.3 -7.8
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -19 4.5 -10.5
EBI Longview Advantage ETF 0.0 35 35 7.0 -8.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 67 7.2 -7.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 58 5.3 -9.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 31 6.8 -8.3

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 17.4 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 15.0 %
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.