Rayliant Quantamental Emerging Market ex-China Equity ETF
ALTAR
Score™		 10.3% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 9.9x P/Sales
ratio		 1.1x
P/BV
ratio		 1.2x Div.
yield		 3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
RAYE is an actively managed portfolio of emerging market equities that are selected and weighted using a combination of quantitative and fundamental, quantamental, proprietary research.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Rayliant Investment Research
Website funds.rayliant.com/raye.html
Inception date Dec 16, 2021
Assets (mns) $63
Currency USD
Expense ratio 88 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 117
Wgt avg mkt cap (mns) $140,231
Large cap (>$10bn) 54.2%
Mid cap ($2-10bn) 41.7%
Small cap (<$2bn) 3.3%
Developed mkts 2.5%
Emerging mkts 97.0%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 15.4 %
SAMSUNG ELECTRONICS CO LTD 3.9 %
FUBON FINANCIAL HOLDING CO 2.5 %
SAMSUNG SECURITIES CO LTD 2.1 %
COROMANDEL INTERNATIONAL LTD 2.1 %
BANGKOK BANK PUBLIC COMPANY LIMITE 2.1 %
GLENMARK PHARMACEUTICALS LTD 2.0 %
TECH MAHINDRA LTD 1.9 %
UNITED ELECTRONICS CO. 1.9 %
HYNIX SEMICONDUCTOR INC 1.9 %
Total 35.8 %

TOP COUNTRY EXPOSURE
TAIWAN 26.0 %
INDIA 23.4 %
SOUTH KOREA 15.0 %
BRAZIL 7.4 %
THAILAND 3.5 %
UAE 2.3 %
SAUDI ARABIA 2.3 %
SOUTH AFRICA 2.1 %
CHILE 1.8 %
POLAND 1.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.3% -6.3% -- -- -1.4%

Market Correlations
versus... Beta R-squared
S&P500 0.72 54%
MSCI EAFE 0.73 57%
MSCI Emg. Mkts. 0.79 67%

Technical Indicators
Recent close $22.65
30d moving avg. $22.86
Annualized volatility 16.8%
Short interest (ETF) 1.4%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.4%
Bid/Ask (% of price) 0.62%
ADV underlying (mns) $3,169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 290 potential alternatives to the Rayliant Quantamental Emerging Market ex-China Equity ETF ETF based on the alternatives' overlap in portfolio holdings with RAYE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RAYE Expense: 88 bp ALTAR Score™: 10.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RAYE
Ticker Fund
Name		 Overlap1
vs RAYE
(%)		 Expense
ratio
(bp)		 Savings
vs RAYE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs RAYE
(%)
XC WisdomTree Emerging Markets Ex-China Fund 29.4 32 56 5.5 -4.8
EMXC iShares MSCI Emerging Markets ex China ETF 27.7 25 63 8.0 -2.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 27.6 15 73 8.6 -1.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 27.6 24 64 8.3 -2.0
STXE Strive Emerging Markets Ex-China ETF 27.0 32 56 8.2 -2.1
XCEM Columbia EM Core ex-China ETF 25.6 16 72 8.5 -1.8
AIA iShares Asia 50 ETF 25.2 50 38 14.7 +4.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 25.1 20 68 11.3 +1.0
EEMO Invesco S&P Emerging Markets Momentum ETF 25.1 29 59 6.2 -4.1
EWT iShares MSCI Taiwan ETF 23.2 58 30 6.8 -3.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 23.1 32 56 7.0 -3.3
FLTW Franklin FTSE Taiwan ETF 22.8 19 69 7.0 -3.3
EEMA iShares MSCI Emerging Markets Asia ETF 22.2 49 39 10.7 +0.4
EMDM First Trust Bloomberg Emerging Market Democracies ETF 21.9 75 13 10.3 -0.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 21.3 45 43 11.0 +0.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 20.6 32 56 9.6 -0.7
XCNY SPDR S&P Emerging Markets ex-China ETF 20.4 15 73 0.0 -10.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 20.3 70 18 9.8 -0.5
EMGF iShares Emerging Markets Equity Factor ETF 20.2 25 63 12.4 +2.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 20.0 33 55 10.6 +0.3
ESGE iShares ESG Aware MSCI EM ETF 20.0 25 63 10.7 +0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 19.9 30 58 10.6 +0.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 19.4 40 48 5.6 -4.7
FLAX Franklin FTSE Asia Ex Japan ETF 19.0 19 69 10.8 +0.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 18.9 66 22 10.2 -0.1
EEM iShares MSCI Emerging Markets ETF 18.8 69 19 10.7 +0.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 18.6 15 73 10.8 +0.5
BKEM BNY Mellon Emerging Markets Equity ETF 18.6 11 77 11.8 +1.5
FDEM Fidelity Emerging Markets Multifactor ETF 18.5 25 63 13.5 +3.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 18.4 95 -7 13.1 +2.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 18.4 36 52 11.2 +0.9
MEM Matthews Emerging Markets Equity Active ETF 18.2 79 9 8.5 -1.8
FTHF First Trust Emerging Markets Human Flourishing ETF 18.0 75 13 9.8 -0.5
EMMF WisdomTree Emerging Markets Multifactor Fund 17.9 48 40 7.8 -2.5
ECON Columbia Emerging Markets Consumer ETF 17.9 49 39 12.9 +2.7
DEHP Dimensional Emerging Markets High Profitability ETF 17.9 41 47 6.5 -3.8
NUEM Nuveen ESG Emerging Markets Equity ETF 16.9 36 52 8.1 -2.2
IEMG iShares Core MSCI Emerging Markets ETF 16.6 9 79 10.9 +0.6
MINV Matthews Asia Innovators Active ETF 16.4 79 9 7.7 -2.6
JHEM John Hancock Multifactor Emerging Markets ETF 16.1 49 39 10.5 +0.2
DFAE Dimensional Emerging Core Equity Market ETF 15.8 35 53 10.2 -0.1
SCHE Schwab Emerging Markets Equity ETF 15.4 11 77 11.6 +1.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 15.1 30 58 9.3 -1.0
PATN Pacer Nasdaq International Patent Leaders ETF 14.8 65 23 4.0 -6.3
VWO Vanguard FTSE Emerging Markets ETF 14.0 8 80 10.9 +0.6
FRDM Freedom 100 Emerging Markets ETF 13.9 49 39 9.1 -1.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 13.4 50 38 11.6 +1.3
PXH Invesco FTSE RAFI Emerging Markets ETF 13.3 49 39 16.7 +6.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 13.0 38 50 9.9 -0.4
SPEM SPDR Portfolio Emerging Markets ETF 12.9 7 81 10.9 +0.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 12.7 39 49 16.9 +6.6
KNCT Invesco Next Gen Connectivity ETF 12.6 40 48 5.1 -5.2
UEVM VictoryShares Emerging Markets Value Momentum ETF 12.1 45 43 11.1 +0.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 12.0 59 29 13.7 +3.4
ROAM Hartford Multifactor Emerging Markets ETF 11.8 44 44 11.3 +1.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.6 44 44 11.0 +0.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 11.5 41 47 9.4 -0.9
FLKR Franklin FTSE South Korea ETF 11.2 9 79 11.2 +0.9
EWY iShares MSCI South Korea ETF 10.9 58 30 10.5 +0.2
EMXF iShares ESG Advanced MSCI EM ETF 10.8 16 72 8.4 -1.9
LDEM iShares ESG MSCI EM Leaders ETF 10.6 17 71 12.9 +2.6
EVLU iShares MSCI Emerging Markets Value Factor ETF 10.6 35 53 21.6 +11.3
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 10.2 90 -2 8.4 -1.9
PIN Invesco India ETF 9.8 78 10 4.3 -6.0
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 9.8 25 63 6.5 -3.8
FLIN Franklin FTSE India ETF 9.6 19 69 3.9 -6.4
INDA iShares MSCI India ETF 9.3 65 23 4.3 -6.0
FEM First Trust Emerging Markets AlphaDEX Fund 9.1 80 8 13.8 +3.5
IVES Wedbush ETFMG Global Cloud Technology ETF 8.6 68 20 9.3 -1.0
AIVC Amplify Bloomberg AI Value Chain ETF 8.6 59 29 8.6 -1.7
FLLA Franklin FTSE Latin America ETF 8.5 19 69 13.5 +3.2
DFEV Dimensional Emerging Markets Value ETF 8.3 43 45 14.5 +4.2
AVES Avantis Emerging Markets Value ETF 8.2 36 52 12.2 +1.9
DGIN VanEck Digital India ETF 7.9 71 17 2.0 -8.3
ECOW Pacer Emerging Markets Cash Cows 100 ETF 7.9 70 18 15.8 +5.5
IWTR iShares MSCI Water Management Multisector ETF 7.5 47 41 6.5 -3.8
EPI WisdomTree India Earnings Fund 7.5 85 3 4.7 -5.6
GMF SPDR S&P Emerging Asia Pacific ETF 7.5 49 39 10.0 -0.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 7.5 42 46 6.8 -3.5
FLBR Franklin FTSE Brazil ETF 7.4 19 69 15.3 +5.1
EWZ iShares MSCI Brazil ETF 7.4 58 30 13.7 +3.4
RNEM First Trust Emerging Markets Equity Select ETF 7.3 75 13 1.0 -9.3
AVEM Avantis Emerging Markets Equity ETF 7.3 33 55 9.7 -0.6
EMM Global X Emerging Markets ex-China ETF 7.1 75 13 5.0 -5.3
FLN First Trust Latin America AlphaDEX Fund 7.0 80 8 10.6 +0.3
NFTY First Trust India NIFTY 50 Equal Weight ETF 7.0 80 8 4.8 -5.5
IXN iShares Global Tech ETF 7.0 41 47 4.5 -5.8
CGXU Capital Group International Focus Equity ETF 6.7 54 34 5.9 -4.4
BKF iShares MSCI BIC ETF 6.7 69 19 13.0 +2.7
EYLD Cambria Emerging Shareholder Yield ETF 6.5 66 22 13.1 +2.8
INDY iShares India 50 ETF 6.2 89 -1 4.6 -5.7
FBOT Fidelity Disruptive Automation ETF 6.1 50 38 4.0 -6.3
VSGX Vanguard ESG International Stock ETF 6.1 12 76 8.2 -2.1
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 6.0 58 30 10.1 -0.2
RODE Hartford Multifactor Diversified International ETF 5.9 29 59 9.9 -0.4
CHAT Roundhill Generative AI & Technology ETF 5.8 75 13 14.8 +4.5
ACWX iShares MSCI ACWI ex U.S. ETF 5.7 34 54 8.1 -2.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 5.7 18 70 8.1 -2.2
FBZ First Trust Brazil AlphaDEX Fund 5.6 80 8 13.4 +3.1
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 5.6 60 28 13.3 +3.0
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 5.6 80 8 9.7 -0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 5.4 41 47 7.1 -3.2
IQDF FlexShares International Quality Dividend Index Fund 5.3 47 41 9.5 -0.8
VEU Vanguard FTSE All-World ex-US Index Fund 5.2 8 80 8.5 -1.8
DEM WisdomTree Emerging Markets High Dividend Fund 5.1 63 25 13.6 +3.3
IXUS iShares Core MSCI Total International Stock ETF 5.1 7 81 8.3 -2.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 5.1 29 59 8.7 -1.6
JIG JPMorgan International Growth ETF 5.1 55 33 4.8 -5.5
EMC Global X Emerging Markets Great Consumer ETF 5.0 75 13 8.5 -1.8
VXUS Vanguard Total International Stock ETF 4.9 7 81 8.3 -2.0
AGQI First Trust Active Global Quality Income ETF 4.8 85 3 6.6 -3.7
WRND IQ Global Equity R&D Leaders ETF 4.8 18 70 7.9 -2.4
VIDI Vident International Equity Strategy ETF 4.7 61 27 12.0 +1.7
AIQ Global X Artificial Intelligence & Technology ETF 4.6 68 20 4.7 -5.6
DVYE iShares Emerging Markets Dividend ETF 4.6 49 39 18.9 +8.6
NXTG First Trust Indxx NextG ETF 4.4 70 18 5.8 -4.5
CARZ First Trust NASDAQ Global Auto Index Fund 4.4 70 18 6.0 -4.3
IMFL Invesco International Developed Dynamic Multifactor ETF 4.2 34 54 6.2 -4.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 4.2 47 41 9.0 -1.3
VPL Vanguard FTSE Pacific ETF 3.9 8 80 7.7 -2.6
FMET Fidelity Metaverse ETF 3.9 39 49 5.1 -5.2
DINT Davis Select International ETF 3.9 55 33 8.3 -2.0
CLNR IQ Cleaner Transport ETF 3.8 45 43 7.3 -3.0
ADIV SmartETFs Asia Pacific Dividend Builder ETF 3.7 78 10 9.6 -0.7
WTAI WisdomTree Artificial Intelligence and Innovation Fund 3.6 45 43 3.5 -6.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 3.6 56 32 12.6 +2.3
DTCR Global X Data Center & Digital Infrastructure ETF 3.5 50 38 1.7 -8.6
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.3 65 23 12.2 +1.9
DWLD Davis Select Worldwide ETF 3.3 63 25 8.5 -1.8
UMMA Wahed Dow Jones Islamic World ETF 3.2 65 23 5.3 -5.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 3.0 30 58 8.6 -1.7
DSTX Distillate International Fundamental Stability & Value ETF 2.8 55 33 8.4 -1.9
INCO Columbia India Consumer ETF 2.7 75 13 1.8 -8.5
OAIM OneAscent International Equity ETF 2.7 95 -7 6.2 -4.1
FDTX Fidelity Disruptive Technology ETF 2.6 50 38 3.0 -7.3
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.5 67 21 13.3 +3.0
SDIV Global X Superdividend ETF 2.5 58 30 13.9 +3.6
NDIA Global X India Active ETF 2.5 75 13 4.7 -5.6
JPIN J.P. Morgan Diversified Return International Equity ETF 2.4 37 51 8.9 -1.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.4 70 18 7.8 -2.5
SUPL ProShares Supply Chain Logistics ETF 2.4 58 30 5.4 -4.9
VCLN Virtus Duff & Phelps Clean Energy ETF 2.3 59 29 6.2 -4.1
GLIN VanEck India Growth Leaders ETF 2.3 77 11 6.4 -3.9
FNDF Schwab Fundamental International Large Co. Index ETF 2.3 25 63 10.1 -0.2
XT iShares Exponential Technologies ETF 2.3 46 42 5.5 -4.8
ACWV iShares MSCI Global Min Vol Factor ETF 2.3 20 68 7.6 -2.7
SMIN iShares MSCI India Small Cap ETF 2.3 79 9 3.3 -7.0
KLMT Invesco MSCI Global Climate 500 ETF 2.2 10 78 6.1 -4.2
GTEK Goldman Sachs Future Tech Leaders Equity ETF 2.2 75 13 3.5 -6.8
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 2.1 80 8 13.6 +3.3
VYMI Vanguard International High Dividend Yield ETF 2.1 22 66 10.0 -0.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 2.1 20 68 6.3 -4.0
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.1 80 8 10.0 -0.3
ACWI iShares MSCI ACWI ETF 2.0 32 56 6.1 -4.2
GLOF iShares Global Equity Factor ETF 2.0 20 68 7.0 -3.3
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.0 60 28 11.0 +0.7
METV Roundhill Ball Metaverse ETF 1.9 59 29 8.3 -2.0
INDF Nifty India Financials ETF 1.9 75 13 6.6 -3.7
UIVM VictoryShares International Value Momentum ETF 1.9 35 53 9.5 -0.8
IGPT Invesco AI and Next Gen Software ETF 1.9 60 28 4.9 -5.4
LOUP Innovator Deepwater Frontier Tech ETF 1.9 70 18 1.8 -8.5
AIS VistaShares Artificial Intelligence Supercycle ETF 1.9 75 13 4.6 -5.7
LEGR First Trust Indxx Innovative Transaction & Process ETF 1.9 65 23 8.6 -1.7
VT Vanguard Total World Stock ETF 1.8 7 81 6.4 -3.9
CWI SPDR MSCI ACWI ex-US ETF 1.8 30 58 8.2 -2.1
MOTG VanEck Morningstar Global Wide Moat ETF 1.8 52 36 6.7 -3.6
IDV iShares International Select Dividend ETF 1.8 51 37 11.6 +1.3
ECH iShares MSCI Chile ETF 1.8 58 30 9.3 -1.0
FCLD Fidelity Cloud Computing ETF 1.7 39 49 3.0 -7.3
HFXI IQ FTSE International Equity Currency Neutral ETF 1.7 20 68 7.4 -2.9
GVAL Cambria Global Value ETF 1.7 68 20 11.3 +1.0
ARTY iShares Future AI & Tech ETF 1.6 47 41 4.1 -6.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.6 12 76 5.2 -5.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 1.6 45 43 9.3 -1.0
FTAG First Trust Indxx Global Agriculture ETF 1.6 70 18 8.1 -2.2
RGEF Rockefeller Global Equity ETF 1.6 55 33 5.2 -5.1
JGLO JPMorgan Global Select Equity ETF 1.6 33 55 5.1 -5.2
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.5 61 27 1.4 -8.9
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.5 86 2 0.4 -9.9
EPOL iShares MSCI Poland ETF 1.5 59 29 11.6 +1.3
IGRO iShares International Dividend Growth ETF 1.5 15 73 7.3 -3.0
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.4 65 23 3.5 -6.8
IDX VanEck Indonesia Index ETF 1.4 57 31 8.4 -1.9
EIDO iShares MSCI Indonesia ETF 1.4 59 29 8.5 -1.8
SCHF Schwab International Equity ETF 1.4 6 82 7.7 -2.6
BLLD JPMorgan Sustainable Infrastructure ETF 1.4 49 39 4.8 -5.5
AQWA Global X Clean Water ETF 1.4 50 38 5.0 -5.3
CGW Invesco S&P Global Water Index ETF 1.4 57 31 4.8 -5.5
PIO Invesco Global Water ETF 1.4 75 13 4.9 -5.4
EFRA iShares Environmental Infrastructure and Industrials ETF 1.4 47 41 4.4 -5.9
IDHQ Invesco S&P International Developed High Quality ETF 1.4 29 59 6.7 -3.6
VEA Vanguard FTSE Developed Markets ETF 1.4 5 83 7.6 -2.7
ICLN iShares Global Clean Energy ETF 1.4 41 47 6.4 -3.9
SAGP Strategas Global Policy Opportunities ETF 1.3 65 23 5.3 -5.0
DEW WisdomTree Global High Dividend Fund 1.3 58 30 7.7 -2.6
SATO Invesco Alerian Galaxy Crypto Economy ETF 1.3 61 27 -1.1 -11.3
VIGI Vanguard International Dividend Appreciation ETF 1.2 15 73 6.2 -4.1
COPY Tweedy, Browne Insider + Value ETF 1.2 80 8 12.6 +2.3
OND ProShares On-Demand ETF 1.1 58 30 1.5 -8.8
HERO Global X Video Games & Esports ETF 1.1 50 38 4.6 -5.7
FILL iShares MSCI Global Energy Producers ETF 1.1 39 49 11.4 +1.1
EDIV SPDR S&P Emerging Markets Dividend ETF 1.1 49 39 11.6 +1.3
ILF iShares Latin America 40 ETF 1.1 48 40 13.5 +3.2
ROBO ROBO Global Robotics & Automation Index ETF 1.0 95 -7 4.0 -6.3
ANEW ProShares MSCI Transformational Changes ETF 1.0 45 43 7.0 -3.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.0 86 2 13.7 +3.4
IPAV Global X Infrastructure Development ex-U.S. ETF 0.9 55 33 4.5 -5.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.9 80 8 11.8 +1.5
CGV Conductor Global Equity Value ETF 0.9 130 -42 9.2 -1.1
BRAZ Global X Brazil Active ETF 0.9 75 13 13.1 +2.8
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.9 24 64 6.4 -3.9
EWW iShares MSCI Mexico ETF 0.9 50 38 9.6 -0.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.9 46 42 10.4 +0.1
MOTO SmartETFs Smart Transportation & Technology ETF 0.9 68 20 7.8 -2.5
DRIV Global X Autonomous & Electric Vehicles ETF 0.9 68 20 6.8 -3.5
GCOW Pacer Global Cash Cows Dividend ETF 0.9 60 28 10.9 +0.6
WWJD Inspire International ETF 0.9 80 8 7.6 -2.7
VEGI iShares MSCI Agriculture Producers ETF 0.9 39 49 8.8 -1.5
TTAI FCF International Quality ETF 0.8 59 29 6.9 -3.4
BJK VanEck Gaming ETF 0.8 65 23 3.9 -6.4
GREK Global X MSCI Greece ETF 0.8 57 31 11.8 +1.5
BETZ Roundhill Sports Betting & iGaming ETF 0.8 75 13 2.1 -8.2
OBOR KraneShares MSCI One Belt One Road Index ETF 0.8 79 9 7.7 -2.6
ARGT Global X MSCI Argentina ETF 0.7 59 29 4.2 -6.1
FPXI First Trust International Equity Opportunities ETF 0.7 70 18 3.9 -6.4
EMIF iShares Emerging Markets Infrastructure ETF 0.7 60 28 7.9 -2.4
UAE iShares MSCI UAE ETF 0.7 59 29 9.0 -1.3
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.7 47 41 5.7 -4.6
SDG iShares MSCI Global Sustainable Development Goals ETF 0.7 49 39 6.0 -4.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 0.7 60 28 8.0 -2.3
DGT SPDR Global Dow ETF 0.7 50 38 8.1 -2.2
IOO iShares Global 100 ETF 0.6 41 47 5.4 -4.9
CRUZ Defiance Hotel Airline and Cruise ETF 0.6 45 43 3.1 -7.2
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.6 49 39 7.3 -3.0
FLSA Franklin FTSE Saudi Arabia ETF 0.6 39 49 5.9 -4.4
TPIF Timothy Plan International ETF 0.6 62 26 6.5 -3.8
EWX SPDR S&P Emerging Markets Small Cap ETF 0.6 65 23 8.1 -2.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.6 39 49 6.3 -4.0
KSA iShares MSCI Saudi Arabia ETF 0.6 74 14 5.7 -4.6
GXG Global X MSCI Colombia ETF 0.6 62 26 18.8 +8.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.6 7 81 7.0 -3.3
TUR iShares MSCI Turkey ETF 0.6 58 30 19.2 +8.9
RFEU First Trust Riverfront Dynamic Europe ETF 0.6 83 5 10.0 -0.3
ESPO VanEck Video Gaming and eSports ETF 0.6 56 32 4.8 -5.5
NERD Roundhill Video Games ETF 0.6 50 38 3.9 -6.4
ODDS Pacer BlueStar Digital Entertainment ETF 0.6 60 28 4.9 -5.4
BNGE First Trust S-Network Streaming and Gaming ETF 0.6 70 18 3.6 -6.7
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 85 7.5 -2.8
CIL VictoryShares International Volatility Wtd ETF 0.6 45 43 7.0 -3.3
EWM iShares MSCI Malaysia ETF 0.5 50 38 6.6 -3.7
GGME Invesco Next Gen Media and Gaming ETF 0.5 60 28 5.0 -5.3
JETS U.S. Global Jets ETF 0.5 60 28 4.2 -6.1
FLMX Franklin FTSE Mexico ETF 0.5 19 69 9.9 -0.4
FDNI First Trust Dow Jones International Internet ETF 0.5 65 23 19.5 +9.2
JSTC Adasina Social Justice All Cap Global ETF 0.5 89 -1 4.5 -5.8
EPU iShares MSCI Peru and Global Exposure ETF 0.5 59 29 7.7 -2.6
BLES Inspire Global Hope ETF 0.5 61 27 6.9 -3.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.4 9 79 6.0 -4.3
BLDG Cambria Global Real Estate ETF 0.4 60 28 4.2 -6.1
RXI iShares Global Consumer Discretionary ETF 0.4 41 47 9.2 -1.1
IXG iShares Global Financials ETF 0.4 42 46 8.1 -2.2
CGGO Capital Group Global Growth Equity ETF 0.4 47 41 5.0 -5.3
IPKW Invesco International BuyBack Achievers ETF 0.4 55 33 15.3 +5.0
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.4 80 8 4.9 -5.4
RFDI First Trust Riverfront Dynamic Developed International ETF 0.4 83 5 10.0 -0.3
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.4 58 30 5.5 -4.8
CGGR Capital Group Growth ETF 0.3 39 49 3.7 -6.6
GINN Goldman Sachs Innovate Equity ETF 0.3 52 36 4.4 -5.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 78 7.5 -2.8
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.3 12 76 7.7 -2.6
CGDG Capital Group Dividend Growers ETF 0.3 47 41 6.3 -4.0
SNSR Global X Internet of Things ETF 0.3 68 20 5.0 -5.3
IDAT iShares Future Cloud 5G and Tech ETF 0.3 47 41 4.8 -5.5
QTUM Defiance Quantum ETF 0.3 40 48 7.7 -2.6
SCHC Schwab International Small-Cap Equity ETF 0.3 11 77 7.1 -3.2
FID First Trust S&P International Dividend Aristocrats ETF 0.2 60 28 9.1 -1.2
WDIV SPDR S&P Global Dividend ETF 0.2 40 48 9.6 -0.7
QAT iShares MSCI Qatar ETF 0.2 59 29 40.6 +30.3
AVRE Avantis Real Estate ETF 0.2 17 71 3.3 -7.0
DFGR Dimensional Global Real Estate ETF 0.2 22 66 3.2 -7.1
VGSR Vert Global Sustainable Real Estate ETF 0.2 47 41 2.8 -7.5
REET iShares Global REIT ETF 0.2 14 74 3.3 -7.0
SCHY Schwab International Dividend Equity ETF 0.1 14 74 9.8 -0.5
SPEU SPDR Portfolio Europe ETF 0.0 7 81 7.5 -2.8
VGK Vanguard FTSE Europe ETF 0.0 11 77 7.5 -2.8
IQSI IQ Candriam International Equity ETF 0.0 15 73 6.7 -3.6
BKIE BNY Mellon International Equity ETF 0.0 4 84 7.3 -3.0
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 68 7.1 -3.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 49 8.3 -2.0
PICK iShares MSCI Global Metals & Mining Producers ETF 0.0 39 49 14.1 +3.8

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Rayliant Quantamental Emerging Market ex-China Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.3 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 88 bp
Equals: ALTAR Score 10.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.50
 
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.