Rayliant Quantamental Emerging Market ex-China Equity ETF
ALTAR
Score™		 7.4% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 10.0x P/Sales
ratio		 0.8x
P/BV
ratio		 1.6x Div.
yield		 3.0%


  • 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) $54
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 200
Wgt avg mkt cap (mns) $153,385
Large cap (>$10bn) 60.5%
Mid cap ($2-10bn) 36.1%
Small cap (<$2bn) 3.4%
Developed mkts 1.7%
Emerging mkts 98.3%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 14.3 %
SAMSUNG ELECTRONICS CO LTD 5.2 %
MAKALOT INDUSTRIAL CO LTD 1.8 %
TRENT LTD 1.4 %
HON HAI PRECISION INDUSTRY 1.3 %
HYNIX SEMICONDUCTOR INC 1.3 %
OTP BANK PLC 1.3 %
ITAUSA-INVESTIMENTOS ITAU SA 1.3 %
INVESTEC LTD 1.2 %
NOVATEK MICROELECTRONICS LTD 1.2 %
Total 30.2 %

TOP COUNTRY EXPOSURE
TAIWAN 29.8 %
INDIA 19.4 %
SOUTH KOREA 19.2 %
BRAZIL 5.0 %
SOUTH AFRICA 3.2 %
THAILAND 2.2 %
SAUDI ARABIA 2.2 %
GREECE 1.8 %
MEXICO 1.7 %
UAE 1.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.3% 27.9% -- -- 4.3%

Market Correlations
versus... Beta R-squared
S&P500 0.75 59%
MSCI EAFE 0.77 63%
MSCI Emg. Mkts. 0.80 71%

Technical Indicators
Recent close $25.02
30d moving avg. $26.26
Annualized volatility 17.2%
Short interest (ETF) 0.3%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.2%
Bid/Ask (% of price) 0.62%
ADV underlying (mns) $8,071

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 314 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™: 7.4%


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
(%)
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 38.5 24 64 9.2 +1.8
STXE Strive Emerging Markets Ex-China ETF 38.4 32 56 7.0 -0.4
EMXC iShares MSCI Emerging Markets ex China ETF 36.6 25 63 6.7 -0.8
XC WisdomTree Emerging Markets Ex-China Fund 36.3 32 56 6.0 -1.5
XCEM Columbia EM Core ex-China ETF 33.8 16 72 7.7 +0.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 33.5 15 73 10.2 +2.8
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 30.9 45 43 11.0 +3.5
EMDM First Trust Bloomberg Emerging Market Democracies ETF 30.9 75 13 8.2 +0.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 30.4 33 55 8.2 +0.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 29.6 30 58 7.3 -0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 29.4 66 22 10.0 +2.5
EEMA iShares MSCI Emerging Markets Asia ETF 29.4 49 39 6.5 -0.9
EMGF iShares Emerging Markets Equity Factor ETF 29.4 25 63 8.5 +1.1
XCNY SPDR S&P Emerging Markets ex-China ETF 29.2 15 73 6.3 -1.2
EEMO Invesco S&P Emerging Markets Momentum ETF 29.2 29 59 5.5 -1.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 28.6 36 52 7.8 +0.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 28.6 15 73 7.2 -0.2
BKEM BNY Mellon Emerging Markets Equity ETF 28.6 11 77 8.4 +0.9
EMMF WisdomTree Emerging Markets Multifactor Fund 28.5 48 40 8.8 +1.3
EEM iShares MSCI Emerging Markets ETF 27.8 69 19 6.9 -0.6
JHEM John Hancock Multifactor Emerging Markets ETF 27.6 49 39 8.2 +0.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 27.5 32 56 6.2 -1.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 27.5 32 56 6.9 -0.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 27.3 70 18 6.2 -1.3
FLAX Franklin FTSE Asia Ex Japan ETF 27.1 19 69 6.9 -0.6
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 26.0 18 70 6.8 -0.6
ECON Columbia Emerging Markets Consumer ETF 26.0 49 39 7.3 -0.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 25.5 20 68 6.8 -0.6
ESGE iShares ESG Aware MSCI EM ETF 25.3 25 63 7.1 -0.3
MINV Matthews Asia Innovators Active ETF 25.0 79 9 3.0 -4.5
IEMG iShares Core MSCI Emerging Markets ETF 24.6 9 79 7.5 +0.0
AIA iShares Asia 50 ETF 24.4 50 38 6.6 -0.8
FTHF First Trust Emerging Markets Human Flourishing ETF 24.2 75 13 8.9 +1.4
DFAE Dimensional Emerging Core Equity Market ETF 23.3 35 53 7.3 -0.1
FLTW Franklin FTSE Taiwan ETF 23.2 19 69 5.9 -1.6
EWT iShares MSCI Taiwan ETF 22.8 58 30 5.7 -1.8
SCHE Schwab Emerging Markets Equity ETF 22.5 11 77 7.1 -0.3
DEHP Dimensional Emerging Markets High Profitability ETF 22.5 41 47 5.0 -2.5
ROAM Hartford Multifactor Emerging Markets ETF 21.9 44 44 15.8 +8.4
NUEM Nuveen ESG Emerging Markets Equity ETF 21.5 36 52 6.5 -1.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 21.4 40 48 8.3 +0.8
EQLT iShares MSCI Emerging Markets Quality Factor ETF 21.3 35 53 7.4 -0.1
VWO Vanguard FTSE Emerging Markets ETF 21.3 8 80 6.9 -0.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 20.8 95 -7 10.5 +3.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 20.5 59 29 11.3 +3.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 20.4 30 58 8.1 +0.7
MEM Matthews Emerging Markets Equity Active ETF 20.3 79 9 5.4 -2.0
PATN Pacer Nasdaq International Patent Leaders ETF 20.1 65 23 6.5 -1.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 20.1 50 38 13.0 +5.5
PXH Invesco FTSE RAFI Emerging Markets ETF 19.8 49 39 12.2 +4.8
SPEM SPDR Portfolio Emerging Markets ETF 19.3 7 81 7.3 -0.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 19.2 39 49 12.5 +5.0
DFEM Dimensional Emerging Markets Core Equity 2 ETF 18.9 38 50 7.8 +0.4
EMXF iShares ESG Advanced MSCI EM ETF 18.5 16 72 6.8 -0.6
UEVM VictoryShares Emerging Markets Value Momentum ETF 18.0 45 43 12.3 +4.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 17.5 41 47 7.4 -0.0
FDEM Fidelity Emerging Markets Multifactor ETF 17.4 25 63 12.3 +4.9
EWY iShares MSCI South Korea ETF 17.2 58 30 9.8 +2.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 17.0 44 44 10.6 +3.2
LDEM iShares ESG MSCI EM Leaders ETF 16.1 17 71 7.6 +0.2
FLKR Franklin FTSE South Korea ETF 15.7 9 79 10.6 +3.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 15.6 35 53 12.4 +5.0
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 14.4 25 63 6.6 -0.8
AVES Avantis Emerging Markets Value ETF 13.9 36 52 11.6 +4.2
AVEM Avantis Emerging Markets Equity ETF 13.6 33 55 8.9 +1.4
KNCT Invesco Next Gen Connectivity ETF 13.3 40 48 5.6 -1.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 13.0 42 46 8.1 +0.6
FLIN Franklin FTSE India ETF 13.0 19 69 4.7 -2.8
GMF SPDR S&P Emerging Asia Pacific ETF 13.0 49 39 6.1 -1.3
DFEV Dimensional Emerging Markets Value ETF 12.7 43 45 11.1 +3.6
FRDM Freedom 100 Emerging Markets ETF 12.6 49 39 7.3 -0.2
INDA iShares MSCI India ETF 12.5 65 23 4.4 -3.1
PIN Invesco India ETF 11.7 78 10 4.5 -3.0
EYLD Cambria Emerging Shareholder Yield ETF 11.3 66 22 13.2 +5.7
BKF iShares MSCI BIC ETF 11.1 69 19 6.9 -0.5
RNEM First Trust Emerging Markets Equity Select ETF 10.2 75 13 7.6 +0.1
DEM WisdomTree Emerging Markets High Dividend Fund 10.0 63 25 18.9 +11.4
EPI WisdomTree India Earnings Fund 9.9 85 3 6.1 -1.4
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 9.6 80 8 7.6 +0.2
FEM First Trust Emerging Markets AlphaDEX Fund 9.5 80 8 13.0 +5.6
EMM Global X Emerging Markets ex-China ETF 9.3 75 13 4.2 -3.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 9.3 90 -2 6.1 -1.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 9.2 18 70 7.0 -0.4
FBOT Fidelity Disruptive Automation ETF 9.0 50 38 3.6 -3.8
VSGX Vanguard ESG International Stock ETF 8.9 12 76 6.8 -0.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 8.9 41 47 7.4 -0.0
NFTY First Trust India NIFTY 50 Equal Weight ETF 8.8 80 8 6.3 -1.2
ACWX iShares MSCI ACWI ex U.S. ETF 8.7 34 54 7.0 -0.5
RODE Hartford Multifactor Diversified International ETF 8.6 29 59 11.8 +4.3
INDY iShares India 50 ETF 8.6 89 -1 4.6 -2.9
IQDE FlexShares International Quality Dividend Defensive Index ET 8.5 47 41 14.8 +7.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 8.4 70 18 9.2 +1.8
IWTR iShares MSCI Water Management Multisector ETF 8.3 47 41 5.0 -2.4
CGXU Capital Group International Focus Equity ETF 8.2 54 34 4.9 -2.6
VIDI Vident International Equity Strategy ETF 8.1 61 27 10.2 +2.8
VEU Vanguard FTSE All-World ex-US Index Fund 8.0 8 80 7.3 -0.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 7.8 58 30 10.2 +2.8
IXN iShares Global Tech ETF 7.7 41 47 4.5 -3.0
IXUS iShares Core MSCI Total International Stock ETF 7.7 7 81 7.2 -0.3
IVES Wedbush ETFMG Global Cloud Technology ETF 7.6 68 20 5.8 -1.7
AIVC Amplify Bloomberg AI Value Chain ETF 7.6 59 29 5.8 -1.6
EMC Global X Emerging Markets Great Consumer ETF 7.6 75 13 4.5 -2.9
VXUS Vanguard Total International Stock ETF 7.5 7 81 7.2 -0.2
IQDF FlexShares International Quality Dividend Index Fund 7.3 47 41 12.9 +5.4
BIGFX Baron International Growth Retail 7.1 75 13 3.1 -4.3
GBUY Goldman Sachs Future Consumer Equity ETF 7.0 75 13 3.3 -4.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 6.8 49 39 16.1 +8.7
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 6.6 60 28 0.5 -7.0
JIG JPMorgan International Growth ETF 6.0 55 33 4.6 -2.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 6.0 29 59 8.7 +1.3
FLLA Franklin FTSE Latin America ETF 5.9 19 69 13.2 +5.7
GLIN VanEck India Growth Leaders ETF 5.8 77 11 5.7 -1.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 5.7 47 41 9.4 +1.9
FMET Fidelity Metaverse ETF 5.7 39 49 5.4 -2.0
VYMI Vanguard International High Dividend Yield ETF 5.4 22 66 9.8 +2.4
CHAT Roundhill Generative AI & Technology ETF 5.4 75 13 3.8 -3.6
AGQI First Trust Active Global Quality Income ETF 5.3 85 3 5.9 -1.6
DINT Davis Select International ETF 5.2 55 33 6.0 -1.4
FLBR Franklin FTSE Brazil ETF 5.0 19 69 13.2 +5.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 5.0 30 58 8.0 +0.5
WRND IQ Global Equity R&D Leaders ETF 4.8 18 70 7.5 +0.1
IMFL Invesco International Developed Dynamic Multifactor ETF 4.7 34 54 5.9 -1.6
NDIA Global X India Active ETF 4.7 75 13 7.2 -0.2
ACWV iShares MSCI Global Min Vol Factor ETF 4.6 20 68 6.3 -1.1
DVYE iShares Emerging Markets Dividend ETF 4.6 49 39 18.8 +11.3
BTECX Baron Technology 4.6 75 13 2.4 -5.1
FLN First Trust Latin America AlphaDEX Fund 4.6 80 8 8.4 +1.0
VPL Vanguard FTSE Pacific ETF 4.5 8 80 7.7 +0.3
CARZ First Trust NASDAQ Global Auto Index Fund 4.5 70 18 3.8 -3.6
DGIN VanEck Digital India ETF 4.5 71 17 0.1 -7.3
BDAIX Baron Durable Advantage 4.4 75 13 3.7 -3.7
FBZ First Trust Brazil AlphaDEX Fund 4.3 80 8 13.3 +5.9
GLOF iShares Global Equity Factor ETF 4.3 20 68 7.0 -0.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.3 80 8 9.1 +1.6
CWI SPDR MSCI ACWI ex-US ETF 4.2 30 58 6.9 -0.5
WTAI WisdomTree Artificial Intelligence and Innovation Fund 4.1 45 43 3.1 -4.3
DSTX Distillate International Fundamental Stability & Value ETF 4.1 55 33 8.0 +0.5
NXTG First Trust Indxx NextG ETF 4.0 70 18 6.2 -1.2
INDF Nifty India Financials ETF 4.0 75 13 5.3 -2.2
CLNR IQ Cleaner Transport ETF 3.8 45 43 6.8 -0.6
DWLD Davis Select Worldwide ETF 3.8 63 25 6.7 -0.7
EWZ iShares MSCI Brazil ETF 3.7 58 30 10.4 +2.9
JGLO JPMorgan Global Select Equity ETF 3.7 33 55 4.5 -3.0
NTZG Nuveen Global Net Zero Transition ETF 3.6 56 32 4.7 -2.7
AIQ Global X Artificial Intelligence & Technology ETF 3.3 68 20 4.0 -3.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 3.3 20 68 5.2 -2.3
UMMA Wahed Dow Jones Islamic World ETF 3.3 65 23 4.6 -2.9
UIVM VictoryShares International Value Momentum ETF 3.3 35 53 11.0 +3.6
ARTY iShares Future AI & Tech ETF 3.3 47 41 3.8 -3.7
JPIN J.P. Morgan Diversified Return International Equity ETF 3.2 37 51 8.9 +1.4
FGD First Trust Dow Jones Global Select Dividend Index Fund 3.2 56 32 13.5 +6.0
EEMS iShares MSCI Emerging Markets Small Cap ETF 3.1 70 18 7.7 +0.3
KLMT Invesco MSCI Global Climate 500 ETF 3.0 10 78 5.4 -2.0
ADIV SmartETFs Asia Pacific Dividend Builder ETF 3.0 78 10 9.0 +1.5
ACWI iShares MSCI ACWI ETF 2.9 32 56 5.3 -2.2
DEW WisdomTree Global High Dividend Fund 2.9 58 30 8.5 +1.1
FNDF Schwab Fundamental International Large Co. Index ETF 2.9 25 63 9.9 +2.4
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.8 67 21 15.0 +7.6
GVAL Cambria Global Value ETF 2.8 68 20 13.1 +5.6
METV Roundhill Ball Metaverse ETF 2.7 59 29 3.4 -4.1
EDIV SPDR S&P Emerging Markets Dividend ETF 2.7 49 39 12.0 +4.6
VT Vanguard Total World Stock ETF 2.6 7 81 5.5 -1.9
HFXI IQ FTSE International Equity Currency Neutral ETF 2.6 20 68 7.1 -0.4
XT iShares Exponential Technologies ETF 2.6 46 42 4.8 -2.7
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 2.4 12 76 4.8 -2.7
IDV iShares International Select Dividend ETF 2.4 51 37 12.2 +4.8
MOTG VanEck Morningstar Global Wide Moat ETF 2.3 52 36 5.6 -1.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 2.2 86 2 1.6 -5.8
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 2.2 86 2 1.2 -6.2
INQQ India Internet & Ecommerce ETF 2.2 86 2 2.6 -4.9
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.1 60 28 13.4 +6.0
SCHY Schwab International Dividend Equity ETF 2.0 14 74 9.3 +1.9
QINT American Century Quality Diversified International ETF 2.0 39 49 7.7 +0.3
FPXI First Trust International Equity Opportunities ETF 1.9 70 18 4.9 -2.5
AFK VanEck Africa Index ETF 1.9 98 -10 9.1 +1.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 1.9 45 43 8.9 +1.5
FILL iShares MSCI Global Energy Producers ETF 1.8 39 49 9.6 +2.2
ICOW Pacer Developed Markets International Cash Cows 100 ETF 1.8 65 23 12.8 +5.3
SCHF Schwab International Equity ETF 1.8 6 82 7.5 +0.0
KSA iShares MSCI Saudi Arabia ETF 1.8 74 14 5.6 -1.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.7 80 8 10.8 +3.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.7 24 64 8.7 +1.2
EWW iShares MSCI Mexico ETF 1.7 50 38 13.2 +5.7
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.7 80 8 3.2 -4.3
LEGR First Trust Indxx Innovative Transaction & Process ETF 1.6 65 23 8.2 +0.7
VEA Vanguard FTSE Developed Markets ETF 1.6 5 83 7.3 -0.1
RGEF Rockefeller Global Equity ETF 1.6 55 33 5.0 -2.5
EZA iShares MSCI South Africa ETF 1.6 58 30 10.3 +2.9
BIOPX Baron Opportunity Retail 1.5 75 13 1.0 -6.4
BTEK Future Tech ETF 1.5 88 0 2.3 -5.2
IGPT Invesco AI and Next Gen Software ETF 1.5 60 28 3.8 -3.7
OND ProShares On-Demand ETF 1.5 58 30 -2.2 -9.6
TTAI FCF International Quality ETF 1.5 59 29 5.6 -1.8
CGGO Capital Group Global Growth Equity ETF 1.5 47 41 4.6 -2.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 1.4 58 30 4.6 -2.9
UAE iShares MSCI UAE ETF 1.4 59 29 8.4 +1.0
FDTX Fidelity Disruptive Technology ETF 1.4 50 38 2.8 -4.7
QTUM Defiance Quantum ETF 1.4 40 48 3.6 -3.9
GREK Global X MSCI Greece ETF 1.4 57 31 -4.0 -11.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.4 49 39 7.0 -0.5
JSTC Adasina Social Justice All Cap Global ETF 1.4 89 -1 4.9 -2.5
WWJD Inspire International ETF 1.3 80 8 7.3 -0.2
SDIV Global X Superdividend ETF 1.3 58 30 14.9 +7.5
LOUP Innovator Deepwater Frontier Tech ETF 1.3 70 18 1.3 -6.2
SMIN iShares MSCI India Small Cap ETF 1.3 79 9 3.5 -4.0
IVRS iShares Future Metaverse Tech and Communications ETF 1.3 47 41 -4.9 -12.3
DGT SPDR Global Dow ETF 1.3 50 38 6.8 -0.6
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.3 61 27 1.2 -6.2
PBD Invesco Global Clean Energy ETF 1.2 75 13 -5.3 -12.7
EWM iShares MSCI Malaysia ETF 1.2 50 38 5.5 -1.9
FNDC Schwab Fundamental International Small Co. Index ETF 1.2 39 49 7.2 -0.2
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.1 75 13 2.9 -4.6
MOTI VanEck Morningstar International Moat ETF 1.1 58 30 5.9 -1.6
OBOR KraneShares MSCI One Belt One Road Index ETF 1.1 79 9 10.3 +2.8
BNGE First Trust S-Network Streaming and Gaming ETF 1.0 70 18 -3.5 -10.9
INCO Columbia India Consumer ETF 1.0 75 13 1.5 -5.9
TPIF Timothy Plan International ETF 1.0 62 26 6.8 -0.7
EWX SPDR S&P Emerging Markets Small Cap ETF 1.0 65 23 8.2 +0.7
BLES Inspire Global Hope ETF 0.9 61 27 6.4 -1.0
DRIV Global X Autonomous & Electric Vehicles ETF 0.9 68 20 4.8 -2.6
MOTO SmartETFs Smart Transportation & Technology ETF 0.9 68 20 7.3 -0.2
CGUS Capital Group Core Equity ETF 0.9 33 55 4.4 -3.0
SUPL ProShares Supply Chain Logistics ETF 0.9 58 30 14.2 +6.8
GGME Invesco Next Gen Media and Gaming ETF 0.9 60 28 3.5 -3.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.9 7 81 6.7 -0.8
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.9 65 23 0.2 -7.2
TUR iShares MSCI Turkey ETF 0.9 58 30 19.7 +12.2
BRAZ Global X Brazil Active ETF 0.9 75 13 10.1 +2.7
FLMX Franklin FTSE Mexico ETF 0.8 19 69 16.2 +8.8
ESPO VanEck Video Gaming and eSports ETF 0.8 56 32 3.5 -3.9
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 0.8 75 13 4.6 -2.9
HERO Global X Video Games & Esports ETF 0.8 50 38 4.4 -3.0
NERD Roundhill Video Games ETF 0.8 50 38 7.1 -0.3
ODDS Pacer BlueStar Digital Entertainment ETF 0.8 60 28 2.3 -5.2
SPDW SPDR Portfolio Developed World ex-US ETF 0.8 3 85 7.2 -0.2
GCOW Pacer Global Cash Cows Dividend ETF 0.8 60 28 12.5 +5.1
CIL VictoryShares International Volatility Wtd ETF 0.8 45 43 7.0 -0.5
EPOL iShares MSCI Poland ETF 0.8 59 29 12.9 +5.5
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 0.8 51 37 7.1 -0.3
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.7 61 27 -2.4 -9.9
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.7 80 8 12.3 +4.8
JETS U.S. Global Jets ETF 0.7 60 28 -13.3 -20.7
IXG iShares Global Financials ETF 0.7 42 46 6.2 -1.3
IOO iShares Global 100 ETF 0.7 41 47 4.8 -2.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.6 9 79 5.4 -2.1
BGAIX Baron Global Advantage 0.6 75 13 0.6 -6.9
CRAK VanEck Oil Refiners ETF 0.6 61 27 14.7 +7.3
FEP First Trust Europe AlphaDEX Fund 0.6 80 8 7.8 +0.3
FEUZ First Trust Eurozone AlphaDEX ETF 0.6 80 8 6.7 -0.8
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.6 12 76 8.3 +0.8
EPHE iShares MSCI Philippines ETF 0.6 59 29 8.9 +1.5
CGV Conductor Global Equity Value ETF 0.6 130 -42 10.9 +3.5
IPAV Global X Infrastructure Development ex-U.S. ETF 0.6 55 33 9.7 +2.3
ICLN iShares Global Clean Energy ETF 0.6 41 47 6.0 -1.5
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.6 46 42 9.3 +1.9
DWX SPDR S&P International Dividend ETF 0.6 45 43 6.5 -1.0
FDNI First Trust Dow Jones International Internet ETF 0.5 65 23 2.1 -5.3
IGRO iShares International Dividend Growth ETF 0.5 15 73 7.5 +0.1
SHPP Pacer Industrials and Logistics ETF 0.5 60 28 9.9 +2.4
AWAY ETFMG Travel Tech ETF 0.5 76 12 -5.2 -12.7
BUYZ Franklin Disruptive Commerce ETF 0.5 50 38 1.8 -5.6
FFTY Innovator IBD 50 ETF 0.5 80 8 -0.6 -8.0
FLSA Franklin FTSE Saudi Arabia ETF 0.5 39 49 5.7 -1.7
IBUY Amplify Online Retail ETF 0.5 65 23 1.4 -6.1
IDAT iShares Future Cloud 5G and Tech ETF 0.5 47 41 4.3 -3.2
PEJ Invesco Leisure and Entertainment ETF 0.5 58 30 1.0 -6.5
SNSR Global X Internet of Things ETF 0.5 68 20 4.6 -2.8
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.5 45 43 5.7 -1.8
ILF iShares Latin America 40 ETF 0.5 48 40 10.4 +3.0
EIDO iShares MSCI Indonesia ETF 0.5 59 29 7.5 +0.0
IDX VanEck Indonesia Index ETF 0.5 57 31 8.8 +1.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 0.4 60 28 9.8 +2.4
RFEU First Trust Riverfront Dynamic Europe ETF 0.4 83 5 11.1 +3.7
VIGI Vanguard International Dividend Appreciation ETF 0.4 15 73 6.4 -1.0
CID VictoryShares International High Div Volatility Wtd ETF 0.4 45 43 11.9 +4.5
IDHQ Invesco S&P International Developed High Quality ETF 0.4 29 59 6.5 -1.0
BOUT Innovator IBD Breakout Opportunities ETF 0.4 81 7 3.6 -3.8
ANEW ProShares MSCI Transformational Changes ETF 0.4 45 43 3.6 -3.9
BOAT SonicShares Global Shipping ETF 0.4 69 19 34.8 +27.4
SCAP InfraCap Small Cap Income ETF 0.4 135 -47 8.5 +1.1
GINN Goldman Sachs Innovate Equity ETF 0.4 52 36 2.8 -4.7
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 39 5.6 -1.8
HART IQ Healthy Hearts ETF 0.3 45 43 5.0 -2.5
RXI iShares Global Consumer Discretionary ETF 0.3 41 47 5.4 -2.1
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.3 45 43 -0.6 -8.0
SCHC Schwab International Small-Cap Equity ETF 0.2 11 77 6.6 -0.9
GDVD R3 Global Dividend Growth ETF 0.2 88 0 5.5 -1.9
BETZ Roundhill Sports Betting & iGaming ETF 0.2 75 13 1.6 -5.9
BJK VanEck Gaming ETF 0.2 65 23 1.4 -6.1
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 5 10.0 +2.5
LUXX Roundhill S&P Global Luxury ETF 0.2 45 43 2.9 -4.6
PID Invesco International Dividend Achievers ETF 0.2 53 35 7.0 -0.4
GXG Global X MSCI Colombia ETF 0.2 62 26 15.8 +8.3
KXI iShares Global Consumer Staples ETF 0.2 41 47 5.7 -1.7
RING iShares MSCI Global Gold Miners ETF 0.2 39 49 5.6 -1.9
SLVP iShares MSCI Global Silver Miners ETF 0.2 39 49 3.2 -4.2
KDIV KraneShares S&P Pan Asia Dividend Aristocrats Index ETF 0.2 68 20 8.2 +0.8
PNQI Invesco NASDAQ Internet ETF 0.2 60 28 2.3 -5.2
IHAK iShares Cybersecurity & Tech ETF 0.2 47 41 3.2 -4.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.2 39 49 4.1 -3.4
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 49 12.8 +5.4
SMLF iShares U.S. SmallCap Equity Factor ETF 0.2 15 73 4.6 -2.8
AVUV Avantis U.S. Small Cap Value ETF 0.1 25 63 8.8 +1.4
AVSC Avantis U.S Small Cap Equity ETF 0.1 25 63 4.7 -2.8
VGK Vanguard FTSE Europe ETF 0.0 11 77 7.1 -0.4
SPEU SPDR Portfolio Europe ETF 0.0 7 81 7.1 -0.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 67 3.8 -3.7
IQSI IQ Candriam International Equity ETF 0.0 15 73 6.6 -0.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 49 7.4 -0.0
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 79 4.8 -2.7
VYM Vanguard High Dividend Yield Index ETF 0.0 6 82 6.8 -0.6
BKIE BNY Mellon International Equity ETF 0.0 4 84 7.1 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 68 7.0 -0.5
AVUS Avantis U.S. Equity ETF 0.0 15 73 5.6 -1.8

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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 12.0 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 88 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.48 CATEGORY
AVERAGE		 1.48
 
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.