Global X Cannabis ETF
ALTAR
Score™
-45.2% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-6.1x P/Sales
ratio
0.1x
P/BV
ratio
0.8x Div.
yield
0.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X Cannabis ETF (POTX) seeks to invest in companies across the cannabis industry. This includes companies involved in the legal production, growth and distribution of cannabis and industrial hemp, as well as those involved in providing financial services to the cannabis industry, pharmaceutical applications of cannabis, CBD, or other related uses.

FUND BASICS
Category Global Equities
Fund Sponsor Global X
Website www.globalxfunds.com
Inception date Sep 18, 2019
Assets (mns) $7
Currency USD
Expense ratio 50 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $876
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 19.0%
Small cap (<$2bn) 81.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CRONOS GROUP INC 10.8 %
GW PHARMACEUTICALS PLC SPONSORED A 10.2 %
APHRIA INC 8.7 %
CANOPY GROWTH CORPORATION 8.6 %
CHARLOTTE'S WEB HOLDINGS, INC. 8.0 %
CORBUS PHARMACEUTICALS HOLDINGS IN 6.1 %
AURORA CANNABIS INC. 5.7 %
ORGANIGRAM HOLDINGS INC 5.0 %
VALENS GROWORKS CORP. 4.6 %
HEXO CORPORATION 4.3 %
Total 72.0 %

TOP COUNTRY EXPOSURE
CANADA 79.4 %
BRITAIN 10.2 %
UNITED STATES 8.8 %
AUSTRALIA 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-39.2% -- -- -- -55.8%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $8.63
30d moving avg. $9.46
Annualized volatility 0.0%
Short interest (ETF) 2.8%
Relative strength (RSI) 30

Liquidity measures
Avg. volume (thou.) 24
Turnover 2.8%
Bid/Ask (% of price) 2.15%
ADV underlying (mns) $144

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 59 potential alternatives to the Global X Cannabis ETF ETF based on the alternatives' overlap in portfolio holdings with POTX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: POTX Expense: 50 bp ALTAR Score™: -45.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH POTX
Ticker Fund
Name
Overlap1
vs POTX
(%)
Expense
ratio
(bp)
Savings
vs POTX
(bp)
ALTAR
Score™
(%)
ALTAR
vs POTX
(%)
THCX The Cannabis ETF 69.5 70 -20 -12.0 +33.1
MJ ETFMG Alternative Harvest ETF 56.3 75 -25 -6.2 +39.0
CNBS Amplify Seymour Cannabis ETF 54.5 75 -25 -13.9 +31.2
TOKE Cambria Cannabis ETF 44.2 42 8 -5.6 +39.5
YOLO AdvisorShares Pure Cannabis ETF 41.5 74 -24 -22.6 +22.6
PPH VanEck Vectors Pharmaceutical ETF 1.4 36 14 11.2 +56.4
BBC Virtus LifeSci Biotech Clinical Trials ETF 1.3 79 -29 0.0 +45.2
EWC iShares MSCI Canada ETF 0.5 49 1 8.5 +53.6
IBB iShares NASDAQ Biotechnology ETF 0.4 47 3 0.7 +45.9
BBCA JPMorgan BetaBuilders Canada ETF 0.4 19 31 8.7 +53.8
QCAN SPDR MSCI Canada Quality Mix ETF 0.4 14 36 8.6 +53.8
ISZE iShares Edge MSCI Intl Size Factor ETF 0.3 30 20 8.8 +54.0
SCHC Schwab International Small-Cap Equity ETF 0.3 12 38 9.1 +54.3
AIIQ AI Powered International Equity ETF 0.3 79 -29 5.8 +50.9
FLCA Franklin FTSE Canada ETF 0.3 9 41 8.9 +54.1
IWC iShares Micro-Cap ETF 0.2 60 -10 -4.7 +40.4
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.2 11 39 8.8 +54.0
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 1 8.9 +54.1
BTEC Principal Healthcare Innovators Index ETF 0.1 42 8 -4.8 +40.4
GWX SPDR S&P International Small Cap ETF 0.1 40 10 7.9 +53.0
IXJ iShares Global Healthcare ETF 0.1 46 4 6.9 +52.0
IWO iShares Russell 2000 Growth ETF 0.1 24 26 1.4 +46.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 0.1 16 34 8.5 +53.7
VTWG Vanguard Russell 2000 Growth Index Fund 0.0 15 35 1.7 +46.8
IDEV iShares Core MSCI International Developed Markets ETF 0.0 5 45 8.9 +54.1
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 4 46 8.9 +54.0
VEA Vanguard FTSE Developed Markets ETF 0.0 5 45 9.2 +54.3
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 0.0 21 29 4.1 +49.2
IXUS ishares Core MSCI Total International Stock ETF 0.0 9 41 9.2 +54.4
IWM iShares Russell 2000 ETF 0.0 19 31 5.2 +50.3
VXUS Vanguard Total International Stock Index Fund 0.0 8 42 9.4 +54.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.0 32 18 9.1 +54.2
VTWO Vanguard Russell 2000 Index Fund 0.0 10 40 5.4 +50.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 40 10 8.9 +54.0
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 0.0 17 33 6.8 +52.0
JKK iShares Morningstar Small-Cap Growth ETF 0.0 30 20 2.0 +47.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 30 7.8 +52.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 11 11.4 +56.6
IEIH iShares Evolved U.S. Innovative Healthcare ETF 0.0 18 32 4.3 +49.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 41 7.5 +52.6
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 20 9.0 +54.2
SCHF Schwab International Equity ETF 0.0 6 44 9.0 +54.2
NUSC Nuveen ESG Small-Cap ETF 0.0 40 10 7.1 +52.2
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 8 42 9.4 +54.5
TOK iShares MSCI Kokusai ETF 0.0 25 25 7.0 +52.1
VT Vanguard Total World Stock Index Fund 0.0 8 42 7.7 +52.9
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.0 20 30 7.7 +52.9
ACWI iShares MSCI ACWI ETF 0.0 32 18 7.4 +52.6
VHT Vanguard Health Care Index Fund 0.0 10 40 6.2 +51.4
VXF Vanguard Extended Market Index Fund 0.0 7 43 5.5 +50.7
URTH iShares MSCI World ETF 0.0 24 26 7.2 +52.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 0.0 6 44 7.4 +52.6
IWN iShares Russell 2000 Value ETF 0.0 24 26 9.5 +54.7
FHLC Fidelity MSCI Health Care Index ETF 0.0 8 42 6.3 +51.4
VTWV Vanguard Russell 2000 Value Index Fund 0.0 15 35 9.7 +54.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 47 6.6 +51.7
VTI Vanguard Total Stock Market Index Fund 0.0 3 47 6.6 +51.7
VTHR Vanguard Russell 3000 Index Fund 0.0 10 40 6.6 +51.7
IWV iShares Russell 3000 ETF 0.0 20 30 6.5 +51.6

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 Cannabis ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity -37.6 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 50 bp
Equals: ALTAR Score -45.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 CATEGORY
AVERAGE
1.49
 
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.