FlexShares Emerging Markets Quality Low Volatility Index Fund
ALTAR
Score™
7.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
15.8x P/Sales
ratio
1.6x
P/BV
ratio
1.9x Div.
yield
3.3%


  • 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 146
Wgt avg mkt cap (mns) $143,278
Large cap (>$10bn) 58.0%
Mid cap ($2-10bn) 35.1%
Small cap (<$2bn) 4.5%
Developed mkts 7.5%
Emerging mkts 92.5%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.7 %
TAIWAN SEMICONDUCTOR MANUFAC 6.1 %
TENCENT HOLDINGS LTD 5.8 %
SAMSUNG ELECTRONICS CO LTD 3.7 %
CHINA MOBILE LIMITED 2.9 %
CHUNGHWA TELECOM CO., LTD 1.8 %
GSX TECHEDU, INC. SPONSORED ADR CL 1.5 %
TATA CONSULTANCY SVS LTD 1.4 %
PETRONAS GAS BHD 1.3 %
MAROC TELECOM SA 1.2 %
Total 33.4 %

TOP COUNTRY EXPOSURE
CHINA 28.2 %
TAIWAN 17.1 %
SOUTH KOREA 10.0 %
INDIA 7.3 %
HONG KONG 6.1 %
MALAYSIA 6.1 %
THAILAND 4.6 %
MOROCCO 2.8 %
MEXICO 1.6 %
BRAZIL 1.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.8% -- -- -- 2.4%

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

Technical Indicators
Recent close $24.46
30d moving avg. $24.03
Annualized volatility 0.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $11,830

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.2%


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
(%)
EEMA iShares MSCI Emerging Markets Asia ETF 36.5 50 -10 7.4 +0.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 35.9 30 10 7.7 +0.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 35.0 68 -28 7.0 -0.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 34.9 45 -5 7.8 +0.7
FLAX Franklin FTSE Asia Ex Japan ETF 34.8 19 21 7.6 +0.5
ESGE iShares ESG MSCI EM ETF 34.6 25 15 8.5 +1.3
EEM iShares MSCI Emerging Markets ETF 34.5 68 -28 7.3 +0.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 34.4 36 4 8.0 +0.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 34.2 65 -25 7.3 +0.2
JHEM John Hancock Multifactor Emerging Markets ETF 32.7 49 -9 8.3 +1.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 32.3 25 15 7.7 +0.5
IEMG iShares Core MSCI Emerging Markets ETF 31.7 13 27 7.8 +0.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 31.7 95 -55 9.2 +2.0
SCHE Schwab Emerging Markets Equity ETF 31.4 11 29 7.9 +0.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 31.0 32 8 6.1 -1.0
DVEM WisdomTree Emerging Markets Dividend Fund 30.6 32 8 8.1 +1.0
PBEE Invesco PureBeta FTSE Emerging Markets ETF 30.4 15 25 8.6 +1.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 29.0 20 20 6.7 -0.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 28.0 30 10 8.6 +1.4
VWO Vanguard FTSE Emerging Markets ETF 27.5 10 30 8.0 +0.8
NUEM Nuveen ESG Emerging Markets Equity ETF 26.5 45 -5 7.0 -0.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 26.3 45 -5 9.3 +2.2
SPEM SPDR Portfolio Emerging Markets ETF 26.0 11 29 7.8 +0.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 25.9 29 11 9.8 +2.7
EMMF WisdomTree Emerging Markets Multifactor Fund 25.6 48 -8 9.3 +2.2
BKEM BNY Mellon Emerging Markets Equity ETF 25.3 11 29 8.4 +1.2
GMF SPDR S&P Emerging Asia Pacific ETF 24.4 49 -9 7.2 +0.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 24.1 32 8 8.9 +1.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 24.0 45 -5 8.8 +1.7
BKF iShares MSCI BRIC ETF 23.4 69 -29 7.4 +0.2
AIA iShares Asia 50 ETF 22.4 50 -10 7.9 +0.8
PXH Invesco FTSE RAFI Emerging Markets ETF 22.1 50 -10 13.2 +6.0
MCHI iShares MSCI China ETF 21.9 59 -19 7.8 +0.6
FLCH Franklin FTSE China ETF 21.6 19 21 8.3 +1.2
GXC SPDR S&P China ETF 21.4 59 -19 8.0 +0.8
RNEM Emerging Markets Equity Select ETF 21.0 75 -35 11.4 +4.2
CHIL Global X MSCI China Large-Cap 50 ETF 20.6 29 11 8.3 +1.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 20.5 39 1 12.6 +5.5
CN Xtrackers MSCI All China Equity ETF 20.2 50 -10 8.1 +1.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 19.9 49 -9 7.6 +0.5
KALL KraneShares FTSE Emerging Markets Plus ETF 19.9 49 -9 8.1 +0.9
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 19.7 49 -9 7.6 +0.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 19.0 44 -4 8.9 +1.7
ECON Columbia Emerging Markets Consumer ETF 18.9 59 -19 4.5 -2.7
XCEM Columbia EM Core ex-China ETF 18.4 16 24 7.0 -0.1
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 18.2 50 -10 10.3 +3.2
EMXC iShares MSCI Emerging Markets ex China ETF 18.2 25 15 7.9 +0.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 17.5 59 -19 10.8 +3.7
EEMO Invesco S&P Emerging Markets Momentum ETF 17.5 29 11 6.4 -0.8
ISEM Invesco Strategic Emerging Markets ETF 17.0 35 5 10.2 +3.1
CXSE WisdomTree China ex-State-Owned Enterprises Fund 16.9 32 8 6.1 -1.1
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 16.1 64 -24 4.6 -2.6
EWT iShares MSCI Taiwan ETF 15.8 59 -19 5.7 -1.5
FLTW Franklin FTSE Taiwan ETF 15.3 19 21 6.1 -1.0
KWEB KraneShares CSI China Internet ETF 15.3 76 -36 1.8 -5.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 15.1 86 -46 2.1 -5.0
ROAM Hartford Multifactor Emerging Markets ETF 14.7 44 -4 14.4 +7.3
FXI iShares China Large-Cap ETF 14.7 74 -34 13.0 +5.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 14.4 16 24 6.8 -0.4
AVEM Avantis Emerging Markets Equity ETF 14.4 33 7 8.7 +1.5
TTTN UP Fintech China-U.S. Internet Titans ETF 13.8 59 -19 4.1 -3.0
FDNI First Trust Dow Jones International Internet ETF 13.8 65 -25 2.2 -5.0
VSGX Vanguard ESG International Stock ETF 11.6 17 23 7.0 -0.2
OGIG O'Shares Global Internet Giants ETF 11.3 48 -8 0.7 -6.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 11.2 40 0 6.9 -0.3
PIE Invesco DWA Emerging Markets Momentum ETF 11.1 90 -50 4.6 -2.5
WUGI Esoterica NextG Economy ETF 11.1 75 -35 1.7 -5.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.0 60 -20 8.5 +1.3
EDIV SPDR S&P Emerging Markets Dividend ETF 11.0 49 -9 11.3 +4.1
ACWX iShares MSCI ACWI ex U.S. ETF 10.7 32 8 7.1 -0.0
CHIQ Global X China Consumer ETF 10.7 65 -25 7.0 -0.2
DEM WisdomTree Emerging Markets High Dividend Fund 10.7 63 -23 14.0 +6.8
IXUS ishares Core MSCI Total International Stock ETF 10.0 9 31 7.3 +0.1
PGJ Invesco Golden Dragon China ETF 10.0 70 -30 3.2 -4.0
FNI First Trust Chindia ETF 9.9 60 -20 2.6 -4.6
EMFM Global X MSCI Next Emerging & Frontier ETF 9.8 66 -26 9.0 +1.9
VIGI Vanguard International Dividend Appreciation ETF 9.7 25 15 5.5 -1.7
VYMI Vanguard International High Dividend Yield ETF 9.6 32 8 9.9 +2.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 9.6 45 -5 13.2 +6.0
CHIC Global X Nasdaq China Technology ETF 9.6 66 -26 3.8 -3.4
VXUS Vanguard Total International Stock Index Fund 9.5 8 32 7.4 +0.3
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 8.9 18 22 5.3 -1.8
VEU Vanguard FTSE All-World ex-US Index Fund 8.7 8 32 7.4 +0.3
AIQ Global X Future Analytics Tech ETF 8.7 68 -28 4.2 -3.0
JOYY Infusive Compounding Global Equities ETF 8.2 50 -10 3.6 -3.6
PNQI Invesco NASDAQ Internet ETF 7.9 62 -22 1.0 -6.1
GBUY Goldman Sachs Motif New Age Consumer ETF 7.7 50 -10 1.8 -5.4
ONLN ProShares Online Retail ETF 7.7 58 -18 0.8 -6.3
BUYZ Franklin Disruptive Commerce ETF 7.6 50 -10 -0.3 -7.4
CWI SPDR MSCI ACWI ex-US ETF 7.1 30 10 7.1 -0.1
DINT Davis Select International ETF 7.0 68 -28 5.7 -1.5
IQDF FlexShares International Quality Dividend Index Fund 7.0 47 -7 12.1 +4.9
IXP iShares Global Comm Services ETF 7.0 46 -6 5.5 -1.7
ACWV iShares Edge MSCI Min Vol Global ETF 6.8 20 20 5.5 -1.6
BICK First Trust BICK Index Fund 6.8 64 -24 4.3 -2.8
IGRO iShares International Dividend Growth ETF 6.8 22 18 7.8 +0.7
IQDE FlexShares International Quality Dividend Defensive Index Fd 6.7 47 -7 11.9 +4.8
FLKR Franklin FTSE South Korea ETF 6.7 9 31 8.4 +1.3
EWY iShares MSCI South Korea ETF 6.7 59 -19 8.0 +0.8

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 13.8 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 7.2 %
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.