FlexShares Emerging Markets Quality Low Volatility Index Fund
ALTAR
Score™
7.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.3x P/Sales
ratio
1.6x
P/BV
ratio
1.9x Div.
yield
3.1%


  • 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 160
Wgt avg mkt cap (mns) $167,722
Large cap (>$10bn) 59.6%
Mid cap ($2-10bn) 36.4%
Small cap (<$2bn) 1.8%
Developed mkts 6.6%
Emerging mkts 93.4%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 9.4 %
TAIWAN SEMICONDUCTOR MANUFAC 6.6 %
TENCENT HOLDINGS LTD 6.2 %
SAMSUNG ELECTRONICS CO LTD 4.1 %
TATA CONSULTANCY SVS LTD 1.6 %
CHINA MOBILE LIMITED 1.6 %
CHUNGHWA TELECOM CO., LTD 1.1 %
HCL TECHNOLOGIES LTD 1.1 %
MEITUAN DIANPING 1.1 %
GSX TECHEDU, INC. SPONSORED ADR CL 1.0 %
Total 33.7 %

TOP COUNTRY EXPOSURE
CHINA 31.0 %
TAIWAN 16.2 %
SOUTH KOREA 11.4 %
INDIA 9.2 %
MALAYSIA 5.5 %
THAILAND 5.0 %
HONG KONG 3.6 %
MOROCCO 1.8 %
BRAZIL 1.6 %
PHILIPPINES 1.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.0% 1.9% -- -- 3.1%

Market Correlations
versus... Beta R-squared
S&P500 0.72 70%
MSCI EAFE 0.82 81%
MSCI Emg. Mkts. 0.72 96%

Technical Indicators
Recent close $24.72
30d moving avg. $24.28
Annualized volatility 19.6%
Short interest (ETF) 3.8%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 3
Turnover 1.0%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $13,275

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
(%)
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 41.9 30 10 7.6 +0.3
ESGE iShares ESG MSCI EM ETF 40.5 25 15 8.5 +1.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 40.5 36 4 7.2 0.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 40.3 68 -28 7.0 -0.3
EEM iShares MSCI Emerging Markets ETF 40.1 68 -28 7.3 +0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 40.0 65 -25 7.4 +0.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 39.9 45 -5 7.5 +0.2
EEMA iShares MSCI Emerging Markets Asia ETF 39.8 50 -10 7.6 +0.4
FLAX Franklin FTSE Asia Ex Japan ETF 39.2 19 21 7.6 +0.4
DVEM WisdomTree Emerging Markets Dividend Fund 37.2 32 8 7.2 -0.0
IEMG iShares Core MSCI Emerging Markets ETF 36.9 13 27 7.8 +0.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 36.7 95 -55 8.0 +0.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 36.5 32 8 5.6 -1.6
SCHE Schwab Emerging Markets Equity ETF 36.4 11 29 7.8 +0.6
PBEE Invesco PureBeta FTSE Emerging Markets ETF 35.6 15 25 8.3 +1.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 35.1 45 -5 8.5 +1.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 35.0 25 15 7.9 +0.7
JHEM John Hancock Multifactor Emerging Markets ETF 34.4 49 -9 8.7 +1.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 33.5 20 20 6.7 -0.6
VWO Vanguard FTSE Emerging Markets ETF 32.3 10 30 7.9 +0.7
EEMO Invesco S&P Emerging Markets Momentum ETF 32.2 29 11 4.0 -3.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 31.0 30 10 8.7 +1.5
NUEM Nuveen ESG Emerging Markets Equity ETF 30.8 45 -5 6.7 -0.5
SPEM SPDR Portfolio Emerging Markets ETF 30.4 11 29 7.7 +0.4
EMMF WisdomTree Emerging Markets Multifactor Fund 30.2 48 -8 9.5 +2.3
BKEM BNY Mellon Emerging Markets Equity ETF 29.4 11 29 8.2 +1.0
GMF SPDR S&P Emerging Asia Pacific ETF 29.1 49 -9 7.0 -0.2
BKF iShares MSCI BRIC ETF 28.7 69 -29 7.3 +0.1
PXH Invesco FTSE RAFI Emerging Markets ETF 26.5 50 -10 13.3 +6.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 26.2 29 11 10.1 +2.8
MCHI iShares MSCI China ETF 25.7 59 -19 7.6 +0.4
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 25.7 45 -5 9.0 +1.8
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 25.4 32 8 8.9 +1.7
FLCH Franklin FTSE China ETF 25.3 19 21 8.1 +0.9
GXC SPDR S&P China ETF 25.3 59 -19 7.6 +0.4
AIA iShares Asia 50 ETF 25.2 50 -10 7.8 +0.5
CN Xtrackers MSCI All China Equity ETF 24.2 50 -10 7.9 +0.6
KALL KraneShares FTSE Emerging Markets Plus ETF 23.8 49 -9 7.8 +0.6
CHIL Global X MSCI China Large-Cap 50 ETF 23.6 29 11 7.4 +0.2
RNEM Emerging Markets Equity Select ETF 23.5 75 -35 11.8 +4.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 22.7 49 -9 7.7 +0.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 22.4 39 1 13.4 +6.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 22.3 49 -9 7.9 +0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 21.4 59 -19 11.0 +3.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 21.3 32 8 11.3 +4.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 21.1 44 -4 9.1 +1.8
ISEM Invesco Strategic Emerging Markets ETF 21.1 35 5 10.8 +3.5
ECON Columbia Emerging Markets Consumer ETF 20.8 59 -19 4.9 -2.3
EMXC iShares MSCI Emerging Markets ex China ETF 20.7 25 15 8.1 +0.9
XCEM Columbia EM Core ex-China ETF 19.4 16 24 7.1 -0.1
KWEB KraneShares CSI China Internet ETF 18.9 76 -36 2.0 -5.2
ROAM Hartford Multifactor Emerging Markets ETF 18.8 44 -4 13.0 +5.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 18.7 86 -46 2.1 -5.1
FDNI First Trust Dow Jones International Internet ETF 18.4 65 -25 2.0 -5.2
AVEM Avantis Emerging Markets Equity ETF 18.0 33 7 8.7 +1.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 17.1 16 24 6.9 -0.4
TTTN UP Fintech China-U.S. Internet Titans ETF 16.8 59 -19 4.2 -3.0
VSGX Vanguard ESG International Stock ETF 16.1 17 23 7.0 -0.2
EWT iShares MSCI Taiwan ETF 15.8 59 -19 6.1 -1.2
FLTW Franklin FTSE Taiwan ETF 15.0 19 21 6.2 -1.0
FXI iShares China Large-Cap ETF 15.0 74 -34 13.1 +5.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 13.7 40 0 7.1 -0.2
ACWX iShares MSCI ACWI ex U.S. ETF 13.1 32 8 7.2 -0.0
CHIQ Global X China Consumer ETF 12.7 65 -25 6.6 -0.6
IXUS ishares Core MSCI Total International Stock ETF 12.2 9 31 7.3 +0.1
OGIG O'Shares Global Internet Giants ETF 12.1 48 -8 0.5 -6.7
PEK VanEck Vectors ChinaAMC CSI 300 ETF 11.6 60 -20 3.8 -3.4
VYMI Vanguard International High Dividend Yield ETF 11.5 27 13 10.2 +2.9
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 11.3 18 22 4.8 -2.4
WUGI Esoterica NextG Economy ETF 11.1 75 -35 1.5 -5.8
BICK First Trust BICK Index Fund 11.1 64 -24 4.7 -2.6
PGJ Invesco Golden Dragon China ETF 11.0 70 -30 3.3 -3.9
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 11.0 45 -5 14.3 +7.1
FNI First Trust Chindia ETF 10.9 60 -20 2.4 -4.8
VXUS Vanguard Total International Stock Index Fund 10.8 8 32 7.5 +0.2
EMFM Global X MSCI Next Emerging & Frontier ETF 10.8 66 -26 9.0 +1.8
VEU Vanguard FTSE All-World ex-US Index Fund 10.8 8 32 7.5 +0.2
DEM WisdomTree Emerging Markets High Dividend Fund 10.6 63 -23 15.1 +7.9
VIGI Vanguard International Dividend Appreciation ETF 10.5 20 20 5.5 -1.7
DINT Davis Select International ETF 10.3 68 -28 5.7 -1.5
AIQ Global X Future Analytics Tech ETF 10.2 68 -28 4.0 -3.3
PIE Invesco DWA Emerging Markets Momentum ETF 10.1 90 -50 4.9 -2.3
EDIV SPDR S&P Emerging Markets Dividend ETF 10.0 49 -9 12.1 +4.9
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 9.8 61 -21 9.0 +1.8
PNQI Invesco NASDAQ Internet ETF 9.7 60 -20 0.9 -6.3
BUYZ Franklin Disruptive Commerce ETF 9.7 50 -10 -0.2 -7.4
GBUY Goldman Sachs Motif New Age Consumer ETF 9.5 50 -10 1.7 -5.5
CWI SPDR MSCI ACWI ex-US ETF 9.1 30 10 7.2 -0.1
DWLD Davis Select Worldwide ETF 9.0 63 -23 6.3 -1.0
CHIC Global X Nasdaq China Technology ETF 9.0 66 -26 4.1 -3.1
JOYY Infusive Compounding Global Equities ETF 8.7 50 -10 3.6 -3.6
IQDF FlexShares International Quality Dividend Index Fund 8.4 47 -7 9.1 +1.9
IQDE FlexShares International Quality Dividend Defensive Index Fd 8.3 47 -7 9.1 +1.9
EWY iShares MSCI South Korea ETF 8.1 59 -19 8.3 +1.1
FLKR Franklin FTSE South Korea ETF 8.0 9 31 8.7 +1.5
GIGE SoFi Gig Economy ETF 8.0 59 -19 -0.8 -8.0
LEGR First Trust Index Digital Transaction & Process Technology E 7.5 65 -25 9.8 +2.5
PIN Invesco India ETF 7.5 78 -38 5.9 -1.4
FLIN Franklin FTSE India ETF 7.3 19 21 5.6 -1.6

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:
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 1.8 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
1.43 CATEGORY
AVERAGE
1.43
 
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.