Global X NASDAQ 100 Covered Call ETF
ALTAR
Score™
4.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
24.2x P/Sales
ratio
3.8x
P/BV
ratio
5.8x Div.
yield
1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X Nasdaq-100 Covered Call ETF tracks an index that holds Nasdaq 100 stocks and sells options on those stocks to collect the premiums.

FUND BASICS
Category US Equities
Fund Sponsor Mirae Asset Global Investments
Website us.horizonsetfs.com
Inception date Dec 12, 2013
Assets (mns) $846
Currency USD
Expense ratio 60 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Fixed
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 103
Wgt avg mkt cap (mns) $551,751
Large cap (>$10bn) 99.9%
Mid cap ($2-10bn) 0.1%
Small cap (<$2bn) 0.0%
Developed mkts 98.5%
Emerging mkts 1.5%

TOP TEN HOLDINGS
APPLE INC 12.5 %
MICROSOFT CORP 11.8 %
AMAZON.COM INC 8.8 %
FACEBOOK 5.0 %
ALPHABET INC. CLASS C 4.8 %
ALPHABET INC. CLASS A 4.2 %
INTEL CORP 2.8 %
COMCAST CORP-CL A 2.3 %
PEPSICO INC 2.2 %
CISCO SYSTEMS INC 2.1 %
Total 56.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.8 %
CHINA 1.2 %
NETHERLANDS 0.6 %
BRITAIN 0.6 %
ARGENTINA 0.3 %
ISRAEL 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.7% 11.1% -- -- 9.6%

Market Correlations
versus... Beta R-squared
S&P500 0.69 78%
MSCI EAFE 0.62 53%
MSCI Emg. Mkts. 0.43 41%

Technical Indicators
Recent close $23.41
30d moving avg. $23.23
Annualized volatility 9.4%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.4%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 353
Turnover 1.0%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $57,165

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X NASDAQ 100 Covered Call ETF ETF based on the alternatives' overlap in portfolio holdings with QYLD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QYLD Expense: 60 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QYLD
Ticker Fund
Name
Overlap1
vs QYLD
(%)
Expense
ratio
(bp)
Savings
vs QYLD
(bp)
ALTAR
Score™
(%)
ALTAR
vs QYLD
(%)
QQQ Invesco QQQ 99.7 20 40 5.2 +0.4
IGM iShares S&P N. American Technology 66.3 46 14 4.6 -0.2
IETC iShares Evolved U.S. Technology 63.5 18 42 4.8 +0.1
MGK Vanguard Mega Cap 300 Growth 59.6 7 53 5.0 +0.3
ONEQ Fidelity NASDAQ Composite 58.7 21 39 3.9 -0.8
IWY iShares Russell Top 200 Growth 58.3 20 40 5.0 +0.3
IYW iShares US Technology 57.4 42 18 5.2 +0.4
TMFC Motley Fool 100 Index 56.9 50 10 4.3 -0.5
VUG Vanguard Growth ETF 53.3 4 56 4.9 +0.1
IWF iShares Russell 1000 Growth 50.3 19 41 5.0 +0.2
QQEW First Trust NASDAQ 100 Equal Weight 50.0 60 0 5.9 +1.1
QQQE Direxion NASDAQ-100 Equal Weight 50.0 35 25 0.0 -4.8
VONG Vanguard Russell 1000 Growth 50.0 12 48 5.1 +0.3
XOUT GraniteShares XOUT US Large Cap 48.0 60 0 5.1 +0.3
SCHG Schwab U.S. Large-Cap Growth 47.3 4 56 4.9 +0.1
FTEC Fidelity MSCI Info Technology 46.8 8 52 5.5 +0.7
VGT Vanguard Info Tech ETF 46.8 10 50 5.4 +0.7
XLK Technology Select Sector SPDR 46.5 13 47 5.6 +0.8
IXN iShares S&P Global Technology 46.5 46 14 5.3 +0.5
JKE iShares Morningstar Large Cap Growth 46.0 25 35 4.0 -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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 NASDAQ 100 Covered Call ETF
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 25.6 %
Divided by: Fwd. P/BV 4.8 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.56
 
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.