FlexShares Emerging Markets Quality Low Volatility Index Fund
ALTAR
Score™
7.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
14.9x P/Sales
ratio
1.5x
P/BV
ratio
1.7x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The FlexShares Emerging Markets Quality Low Volatility Index ETF tracks a multi-factor selected index of large- and mid-cap equities from emerging markets.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Northern Trust
Website www.flexshares.com
Inception date Jul 15, 2019
Assets (mns) $7
Currency USD
Expense ratio 40 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 166
Wgt avg mkt cap (mns) $99,095
Large cap (>$10bn) 59.1%
Mid cap ($2-10bn) 34.4%
Small cap (<$2bn) 5.4%
Developed mkts 8.9%
Emerging mkts 91.1%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 6.1 %
TENCENT HOLDINGS LTD 5.0 %
TAIWAN SEMICONDUCTOR MANUFAC 4.2 %
SAMSUNG ELECTRONICS CO LTD 3.5 %
CHINA MOBILE LIMITED 3.2 %
BANK CENTRAL ASIA PT 1.7 %
TATA CONSULTANCY SVS LTD 1.2 %
CHINA CONSTRUCTION BANK-H 1.1 %
TAIWAN MOBILE CO. LTD. 1.0 %
ZTO EXPRESS (CAYMAN) INC. SPONSORE 0.9 %
Total 27.9 %

TOP COUNTRY EXPOSURE
CHINA 24.0 %
TAIWAN 14.4 %
SOUTH KOREA 10.3 %
INDIA 7.8 %
HONG KONG 6.9 %
BRAZIL 4.1 %
MALAYSIA 3.7 %
THAILAND 3.7 %
SOUTH AFRICA 3.0 %
RUSSIA 2.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 01)
Year-to-date 1 year 5 years 10 years Since Incep.
-- -- -- -- 0.0%

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

Technical Indicators
Recent close $22.77
30d moving avg. $21.57
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $10,716

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the FlexShares Emerging Markets Quality Low Volatility Index Fund ETF based on the alternatives' overlap in portfolio holdings with QLVE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QLVE Expense: 40 bp ALTAR Score™: 7.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QLVE
Ticker Fund
Name
Overlap1
vs QLVE
(%)
Expense
ratio
(bp)
Savings
vs QLVE
(bp)
ALTAR
Score™
(%)
ALTAR
vs QLVE
(%)
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 34.1 45 -5 8.8 +0.9
EEM iShares MSCI Emerging Markets ETF 33.5 68 -28 8.3 +0.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 33.1 65 -25 8.4 +0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 32.8 30 10 8.9 +1.0
JHEM John Hancock Multifactor Emerging Markets ETF 32.8 55 -15 8.9 +1.0
EEMA iShares MSCI Emerging Markets Asia ETF 32.7 50 -10 8.5 +0.6
ESGE iShares ESG MSCI EM ETF 32.5 25 15 9.8 +1.8
IEMG iShares Core MSCI Emerging Markets ETF 32.3 14 26 8.8 +0.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 31.5 25 15 8.5 +0.6
FLAX Franklin FTSE Asia Ex Japan ETF 30.9 19 21 8.6 +0.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 30.8 68 -28 8.0 +0.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 30.2 95 -55 10.2 +2.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 29.9 30 10 9.5 +1.5
SCHE Schwab Emerging Markets Equity ETF 29.6 13 27 8.7 +0.8
PBEE Invesco PureBeta FTSE Emerging Markets ETF 29.1 14 26 9.6 +1.7
DVEM WisdomTree Emerging Markets Dividend Fund 28.6 32 8 9.2 +1.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 28.0 32 8 6.9 -1.1
VWO Vanguard FTSE Emerging Markets ETF 27.9 10 30 8.9 +1.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 27.8 20 20 7.7 -0.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 26.2 29 11 9.9 +2.0
FDEM Fidelity Targeted Emerging Markets Factor ETF 25.5 45 -5 9.8 +1.9
SPEM SPDR Portfolio Emerging Markets ETF 25.2 11 29 8.7 +0.7
EMMF WisdomTree Emerging Markets Multifactor Fund 24.9 48 -8 9.9 +2.0
BKF iShares MSCI BRIC ETF 23.4 69 -29 8.5 +0.6
GMF SPDR S&P Emerging Asia Pacific ETF 22.9 49 -9 8.0 +0.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 22.7 59 -19 11.2 +3.3
PXH Invesco FTSE RAFI Emerging Markets ETF 22.4 50 -10 13.8 +5.9
NUEM Nuveen ESG Emerging Markets Equity ETF 22.4 45 -5 7.9 -0.1
EMCG WisdomTree Emerging Markets Consumer Growth Fund 22.3 32 8 7.9 +0.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 22.3 45 -5 10.0 +2.1
AXJL WisdomTree Asia Pacific ex-Japan Fund 22.1 48 -8 10.0 +2.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 22.1 32 8 9.6 +1.7
RNEM Emerging Markets Equity Select ETF 21.8 75 -35 10.6 +2.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 21.1 39 1 13.2 +5.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 21.0 45 -5 9.0 +1.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 20.8 49 -9 8.4 +0.5
MCHI iShares MSCI China ETF 20.5 59 -19 9.1 +1.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 20.5 49 -9 9.1 +1.1
AIA iShares Asia 50 ETF 20.4 50 -10 9.1 +1.2
FLCH Franklin FTSE China ETF 20.3 19 21 9.3 +1.4
GXC SPDR S&P China ETF 19.9 59 -19 9.0 +1.0
XCEM Columbia EM Core ex-China ETF 19.2 16 24 7.9 +0.0
ISEM Invesco Strategic Emerging Markets ETF 18.9 35 5 10.4 +2.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 18.9 50 -10 9.9 +2.0
EMXC iShares MSCI Emerging Markets ex China ETF 18.8 49 -9 8.5 +0.6
CN Xtrackers MSCI All China Equity ETF 18.6 50 -10 9.4 +1.5
KALL KraneShares FTSE Emerging Markets Plus ETF 18.3 49 -9 9.1 +1.2
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 18.1 64 -24 5.3 -2.6
CHIL Global X MSCI China Large-Cap 50 ETF 17.8 29 11 9.6 +1.7
ECON Columbia Emerging Markets Consumer ETF 17.8 59 -19 4.9 -3.0
WCHN WisdomTree ICBCCS S&P China 500 Fund 17.7 55 -15 9.2 +1.3
EEMO Invesco S&P Emerging Markets Momentum ETF 17.3 30 10 7.3 -0.7
PIE Invesco DWA Emerging Markets Momentum ETF 15.7 90 -50 5.7 -2.2
FXI iShares China Large-Cap ETF 15.1 74 -34 13.6 +5.6
ROAM Hartford Multifactor Emerging Markets ETF 14.6 44 -4 15.1 +7.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 14.6 32 8 7.0 -0.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 13.8 16 24 7.2 -0.7
EWT iShares MSCI Taiwan ETF 13.5 59 -19 6.5 -1.4
AVEM Avantis Emerging Markets Equity ETF 13.0 33 7 9.6 +1.7
FLTW Franklin FTSE Taiwan ETF 12.8 19 21 6.8 -1.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 12.7 86 -46 2.4 -5.6
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 12.3 45 -5 13.5 +5.6
VIGI Vanguard International Dividend Appreciation ETF 12.3 25 15 6.0 -1.9
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.9 60 -20 8.6 +0.7
FDNI First Trust Dow Jones International Internet ETF 11.7 65 -25 2.9 -5.1
DEM WisdomTree Emerging Markets High Dividend Fund 11.7 63 -23 14.2 +6.3
KWEB KraneShares CSI China Internet ETF 11.6 76 -36 3.5 -4.4
VSGX Vanguard ESG International Stock ETF 11.2 17 23 7.5 -0.4
TTTN UP Fintech China-U.S. Internet Titans ETF 11.1 59 -19 5.1 -2.8
JOYY Infusive Compounding Global Equities ETF 11.1 50 -10 3.9 -4.0
EDIV SPDR S&P Emerging Markets Dividend ETF 10.9 49 -9 11.6 +3.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 10.8 40 0 7.5 -0.4
ACWX iShares MSCI ACWI ex U.S. ETF 10.4 32 8 7.6 -0.3
IXUS ishares Core MSCI Total International Stock ETF 9.6 9 31 7.7 -0.2
VXUS Vanguard Total International Stock Index Fund 9.4 8 32 7.8 -0.1
EMFM Global X MSCI Next Emerging & Frontier ETF 9.4 55 -15 8.8 +0.9
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 9.1 80 -40 1.7 -6.2
OGIG O'Shares Global Internet Giants ETF 8.9 48 -8 0.5 -7.4
BICK First Trust BICK Index Fund 8.9 64 -24 4.5 -3.4
CHIC Global X Nasdaq China Technology ETF 8.8 65 -25 4.4 -3.5
VEU Vanguard FTSE All-World ex-US Index Fund 8.5 8 32 7.9 -0.1
AIQ Global X Future Analytics Tech ETF 8.3 68 -28 4.2 -3.7
VYMI Vanguard International High Dividend Yield ETF 8.2 32 8 10.4 +2.5
FNI First Trust Chindia ETF 7.6 59 -19 3.5 -4.4
PGJ Invesco Golden Dragon China ETF 7.6 70 -30 3.5 -4.5
DVYE iShares Emerging Markets Dividend ETF 7.4 49 -9 13.1 +5.2
BUYZ Franklin Disruptive Commerce ETF 7.3 50 -10 -0.1 -8.1
FLKR Franklin FTSE South Korea ETF 7.2 9 31 9.9 +2.0
EWY iShares MSCI South Korea ETF 7.2 59 -19 9.3 +1.4
IQDE FlexShares International Quality Dividend Defensive Index Fd 7.1 47 -7 12.9 +5.0
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 7.0 18 22 6.2 -1.7
FRDM Freedom 100 Emerging Markets ETF 7.0 49 -9 7.5 -0.4
ACWV iShares Edge MSCI Min Vol Global ETF 6.8 20 20 5.9 -2.1
CWI SPDR MSCI ACWI ex-US ETF 6.7 30 10 7.8 -0.2
DINT Davis Select International ETF 6.7 75 -35 6.0 -1.9
GENY Principal Millennials Index ETF 6.6 45 -5 4.0 -3.9
CHIQ Global X China Consumer ETF 6.5 65 -25 9.4 +1.5
IXP iShares Global Comm Services ETF 6.4 46 -6 5.8 -2.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 6.4 20 20 11.1 +3.2
GBUY Goldman Sachs Motif New Age Consumer ETF 6.3 50 -10 2.1 -5.8

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:
FlexShares Emerging Markets Quality Low Volatility Index Fund
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 13.9 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 7.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.45
 
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.