Rayliant Quantamental Emerging Market ex-China Equity ETF
ALTAR
Score™		 9.3% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 11.2x P/Sales
ratio		 1.3x
P/BV
ratio		 1.4x 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) $79
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) $132,783
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 June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
11.1% 3.1% -- -- 3.3%

Market Correlations
versus... Beta R-squared
S&P500 0.74 53%
MSCI EAFE 0.63 41%
MSCI Emg. Mkts. 0.71 54%

Technical Indicators
Recent close $26.65
30d moving avg. $25.70
Annualized volatility 16.4%
Short interest (ETF) 0.5%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.6%
Bid/Ask (% of price) 0.62%
ADV underlying (mns) $3,169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 293 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™: 9.3%


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
(%)
EMXC iShares MSCI Emerging Markets ex China ETF 29.8 25 63 7.8 -1.6
XC WisdomTree Emerging Markets Ex-China Fund 29.4 32 56 6.2 -3.2
STXE Strive Emerging Markets Ex-China ETF 28.3 32 56 7.9 -1.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 27.6 15 73 8.1 -1.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 27.6 24 64 8.2 -1.1
XCEM Columbia EM Core ex-China ETF 25.6 16 72 8.2 -1.2
AIA iShares Asia 50 ETF 25.2 50 38 13.2 +3.8
EEMA iShares MSCI Emerging Markets Asia ETF 25.1 49 39 10.0 +0.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 25.1 20 68 10.8 +1.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 23.1 32 56 6.9 -2.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 22.8 70 18 9.2 -0.1
FLTW Franklin FTSE Taiwan ETF 22.8 19 69 6.7 -2.7
EWT iShares MSCI Taiwan ETF 22.7 58 30 6.4 -2.9
EMGF iShares Emerging Markets Equity Factor ETF 22.3 25 63 11.9 +2.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 22.0 30 58 10.3 +1.0
EMDM First Trust Bloomberg Emerging Market Democracies ETF 22.0 75 13 10.0 +0.7
ESGE iShares ESG Aware MSCI EM ETF 21.5 25 63 10.1 +0.7
FTHF First Trust Emerging Markets Human Flourishing ETF 21.5 75 13 8.6 -0.7
XCNY SPDR S&P Emerging Markets ex-China ETF 21.4 15 73 7.7 -1.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 21.3 45 43 10.5 +1.2
EEM iShares MSCI Emerging Markets ETF 21.1 69 19 10.3 +0.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 20.6 32 56 9.3 -0.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 20.0 33 55 10.1 +0.8
EEMO Invesco S&P Emerging Markets Momentum ETF 19.9 29 59 6.5 -2.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 19.4 40 48 7.1 -2.2
FLAX Franklin FTSE Asia Ex Japan ETF 19.0 19 69 9.4 +0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 18.9 66 22 9.8 +0.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 18.6 15 73 10.3 +1.0
BKEM BNY Mellon Emerging Markets Equity ETF 18.6 11 77 10.1 +0.8
IEMG iShares Core MSCI Emerging Markets ETF 18.5 9 79 10.5 +1.1
FDEM Fidelity Emerging Markets Multifactor ETF 18.5 25 63 12.8 +3.5
DEHP Dimensional Emerging Markets High Profitability ETF 18.4 41 47 6.9 -2.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 18.4 36 52 9.8 +0.5
MEM Matthews Emerging Markets Equity Active ETF 18.2 79 9 8.0 -1.4
EMMF WisdomTree Emerging Markets Multifactor Fund 17.9 48 40 7.8 -1.5
PATN Pacer Nasdaq International Patent Leaders ETF 17.9 65 23 6.3 -3.0
ECON Columbia Emerging Markets Consumer ETF 17.9 49 39 12.4 +3.0
DFAE Dimensional Emerging Core Equity Market ETF 17.9 35 53 9.4 +0.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 17.7 95 -7 12.8 +3.4
DEXC Dimensional Emerging Markets ex China Core EquityETF 17.7 53 35 7.7 -1.6
NUEM Nuveen ESG Emerging Markets Equity ETF 16.9 36 52 7.8 -1.6
SCHE Schwab Emerging Markets Equity ETF 16.7 11 77 11.1 +1.8
MINV Matthews Asia Innovators Active ETF 16.4 79 9 7.5 -1.8
JHEM John Hancock Multifactor Emerging Markets ETF 16.1 49 39 10.4 +1.1
VWO Vanguard FTSE Emerging Markets ETF 15.3 7 81 10.6 +1.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 15.1 30 58 10.0 +0.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 14.4 38 50 9.4 +0.1
SPEM SPDR Portfolio Emerging Markets ETF 14.4 7 81 10.6 +1.3
KNCT Invesco Next Gen Connectivity ETF 13.7 40 48 5.0 -4.3
FRDM Freedom 100 Emerging Markets ETF 13.6 49 39 8.9 -0.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 13.4 50 38 11.4 +2.0
PXH Invesco FTSE RAFI Emerging Markets ETF 12.8 49 39 15.9 +6.6
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 12.7 41 47 8.9 -0.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 12.5 39 49 16.2 +6.9
EMXF iShares ESG Advanced MSCI EM ETF 12.3 16 72 8.4 -0.9
UEVM VictoryShares Emerging Markets Value Momentum ETF 12.1 45 43 10.8 +1.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 12.0 59 29 11.7 +2.4
ROAM Hartford Multifactor Emerging Markets ETF 11.8 44 44 12.0 +2.6
EVLU iShares MSCI Emerging Markets Value Factor ETF 11.6 35 53 19.2 +9.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.6 44 44 11.0 +1.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 11.5 25 63 6.5 -2.9
FLKR Franklin FTSE South Korea ETF 11.2 9 79 9.4 +0.0
LDEM iShares ESG MSCI EM Leaders ETF 11.1 17 71 13.1 +3.8
EWY iShares MSCI South Korea ETF 11.1 58 30 8.8 -0.5
INDA iShares MSCI India ETF 9.6 65 23 4.5 -4.9
FLIN Franklin FTSE India ETF 9.6 19 69 4.0 -5.3
DFEV Dimensional Emerging Markets Value ETF 9.5 43 45 13.2 +3.9
AVXC Avantis Emerging Markets Ex-China Equity ETF 9.3 33 55 8.7 -0.6
PIN Invesco India ETF 9.2 78 10 4.4 -4.9
FEM First Trust Emerging Markets AlphaDEX Fund 8.8 80 8 12.2 +2.8
IVES Wedbush ETFMG Global Cloud Technology ETF 8.6 68 20 15.5 +6.1
FLLA Franklin FTSE Latin America ETF 8.5 19 69 14.1 +4.7
IWTR iShares MSCI Water Management Multisector ETF 8.4 47 41 5.7 -3.6
AVES Avantis Emerging Markets Value ETF 8.2 36 52 11.5 +2.2
AVSE Avantis Responsible Emerging Markets Equity ETF 8.1 33 55 8.6 -0.8
AIVC Amplify Bloomberg AI Value Chain ETF 7.9 59 29 5.9 -3.4
GMF SPDR S&P Emerging Asia Pacific ETF 7.8 49 39 9.5 +0.1
DGIN VanEck Digital India ETF 7.8 71 17 2.0 -7.3
EPI WisdomTree India Earnings Fund 7.5 85 3 4.9 -4.5
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 7.5 42 46 6.8 -2.6
FLBR Franklin FTSE Brazil ETF 7.4 19 69 15.8 +6.5
AVEM Avantis Emerging Markets Equity ETF 7.3 33 55 9.1 -0.2
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 7.2 80 8 9.5 +0.2
RNEM First Trust Emerging Markets Equity Select ETF 7.1 75 13 7.1 -2.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 7.1 90 -2 7.7 -1.7
IXN iShares Global Tech ETF 7.0 41 47 3.8 -5.5
NFTY First Trust India NIFTY 50 Equal Weight ETF 6.9 80 8 5.0 -4.3
VSGX Vanguard ESG International Stock ETF 6.9 10 78 8.0 -1.4
EMC Global X Emerging Markets Great Consumer ETF 6.9 75 13 8.8 -0.5
BKF iShares MSCI BIC ETF 6.8 69 19 13.2 +3.8
CGXU Capital Group International Focus Equity ETF 6.7 54 34 5.8 -3.5
EWZ iShares MSCI Brazil ETF 6.5 58 30 13.6 +4.3
ACWX iShares MSCI ACWI ex U.S. ETF 6.4 34 54 7.9 -1.4
EYLD Cambria Emerging Shareholder Yield ETF 6.3 66 22 12.3 +3.0
INDY iShares India 50 ETF 6.2 89 -1 4.7 -4.6
FBOT Fidelity Disruptive Automation ETF 6.1 50 38 3.7 -5.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 6.0 58 30 9.8 +0.4
VEU Vanguard FTSE All-World ex-US Index Fund 5.9 4 84 8.3 -1.1
RODE Hartford Multifactor Diversified International ETF 5.9 29 59 12.7 +3.4
EMM Global X Emerging Markets ex-China ETF 5.8 75 13 6.0 -3.3
EELV Invesco S&P Emerging Markets Low Volatility ETF 5.7 29 59 8.9 -0.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 5.7 18 70 7.8 -1.5
IXUS iShares Core MSCI Total International Stock ETF 5.6 7 81 8.1 -1.3
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 5.6 60 28 10.1 +0.8
VXUS Vanguard Total International Stock ETF 5.5 5 83 8.1 -1.2
FGD First Trust Dow Jones Global Select Dividend Index Fund 5.5 56 32 11.0 +1.6
GLIN VanEck India Growth Leaders ETF 5.5 77 11 6.5 -2.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 5.4 41 47 7.7 -1.6
ICOW Pacer Developed Markets International Cash Cows 100 ETF 5.3 65 23 11.8 +2.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.3 70 18 14.7 +5.3
IQDF FlexShares International Quality Dividend Index Fund 5.3 47 41 9.3 0.0
AIQ Global X Artificial Intelligence & Technology ETF 5.2 68 20 3.8 -5.6
DEM WisdomTree Emerging Markets High Dividend Fund 5.1 63 25 13.3 +3.9
JIG JPMorgan International Growth ETF 5.1 55 33 4.7 -4.6
AGQI First Trust Active Global Quality Income ETF 4.9 85 3 5.4 -4.0
FLN First Trust Latin America AlphaDEX Fund 4.9 80 8 10.9 +1.5
NXTG First Trust Indxx NextG ETF 4.8 70 18 5.4 -4.0
WRND IQ Global Equity R&D Leaders ETF 4.8 18 70 8.4 -1.0
CHAT Roundhill Generative AI & Technology ETF 4.6 75 13 7.8 -1.5
VPL Vanguard FTSE Pacific ETF 4.6 7 81 7.3 -2.1
VIDI Vident International Equity Strategy ETF 4.5 61 27 11.4 +2.1
DVYE iShares Emerging Markets Dividend ETF 4.4 49 39 18.9 +9.6
CARZ First Trust NASDAQ Global Auto Index Fund 4.3 70 18 5.2 -4.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 4.2 47 41 8.6 -0.8
UMMA Wahed Dow Jones Islamic World ETF 4.0 65 23 5.1 -4.2
DTCR Global X Data Center & Digital Infrastructure ETF 3.9 50 38 4.3 -5.0
FMET Fidelity Metaverse ETF 3.9 39 49 4.8 -4.5
DINT Davis Select International ETF 3.9 55 33 8.1 -1.3
CLNR IQ Cleaner Transport ETF 3.8 45 43 6.6 -2.8
ADIV SmartETFs Asia Pacific Dividend Builder ETF 3.7 78 10 9.3 -0.1
WTAI WisdomTree Artificial Intelligence and Innovation Fund 3.6 45 43 2.9 -6.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 3.5 30 58 8.2 -1.2
FEOE First Eagle Overseas Equity ETF 3.4 79 9 8.3 -1.0
DWLD Davis Select Worldwide ETF 3.3 63 25 7.5 -1.9
IDV iShares International Select Dividend ETF 3.3 51 37 11.1 +1.8
MOTI VanEck Morningstar International Moat ETF 3.0 58 30 11.1 +1.8
FNDF Schwab Fundamental International Large Co. Index ETF 2.9 25 63 9.7 +0.4
IMFL Invesco International Developed Dynamic Multifactor ETF 2.9 34 54 6.1 -3.3
DSTX Distillate International Fundamental Stability & Value ETF 2.8 55 33 8.3 -1.1
INCO Columbia India Consumer ETF 2.7 75 13 1.9 -7.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.7 45 43 9.0 -0.3
OAIM OneAscent International Equity ETF 2.7 95 -7 5.7 -3.6
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.6 65 23 7.4 -1.9
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.6 80 8 10.1 +0.7
FEGE First Eagle Global Equity ETF 2.6 79 9 7.1 -2.2
ACWV iShares MSCI Global Min Vol Factor ETF 2.6 20 68 6.0 -3.3
FDTX Fidelity Disruptive Technology ETF 2.6 50 38 2.6 -6.7
KLMT Invesco MSCI Global Climate 500 ETF 2.5 10 78 5.9 -3.4
NDIA Global X India Active ETF 2.5 75 13 4.8 -4.6
SDIV Global X Superdividend ETF 2.4 58 30 40.0 +30.7
XT iShares Exponential Technologies ETF 2.4 46 42 4.8 -4.5
JPIN J.P. Morgan Diversified Return International Equity ETF 2.4 37 51 8.7 -0.6
ILF iShares Latin America 40 ETF 2.4 48 40 13.6 +4.2
SUPL ProShares Supply Chain Logistics ETF 2.4 58 30 11.5 +2.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 2.4 20 68 5.8 -3.5
GLOF iShares Global Equity Factor ETF 2.4 20 68 6.8 -2.6
VCLN Virtus Duff & Phelps Clean Energy ETF 2.3 59 29 5.4 -3.9
VYMI Vanguard International High Dividend Yield ETF 2.3 17 71 10.0 +0.6
ACWI iShares MSCI ACWI ETF 2.3 32 56 5.7 -3.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.2 70 18 7.7 -1.6
MOTG VanEck Morningstar Global Wide Moat ETF 2.2 52 36 6.8 -2.6
GTEK Goldman Sachs Future Tech Leaders Equity ETF 2.2 75 13 3.1 -6.2
IGPT Invesco AI and Next Gen Software ETF 2.2 60 28 4.2 -5.2
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 2.1 80 8 14.4 +5.1
VT Vanguard Total World Stock ETF 2.0 6 82 6.0 -3.3
CWI SPDR MSCI ACWI ex-US ETF 2.0 30 58 7.8 -1.5
FTAG First Trust Indxx Global Agriculture ETF 2.0 70 18 8.4 -1.0
INDF Nifty India Financials ETF 1.9 75 13 6.4 -2.9
UIVM VictoryShares International Value Momentum ETF 1.9 35 53 9.1 -0.3
UAE iShares MSCI UAE ETF 1.9 59 29 0.0 -9.3
LOUP Innovator Deepwater Frontier Tech ETF 1.9 70 18 1.1 -8.2
AIS VistaShares Artificial Intelligence Supercycle ETF 1.9 75 13 3.5 -5.8
ECH iShares MSCI Chile ETF 1.8 58 30 9.5 +0.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.8 12 76 5.3 -4.1
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.8 67 21 13.9 +4.6
RGEF Rockefeller Global Equity ETF 1.8 55 33 4.9 -4.4
SCHF Schwab International Equity ETF 1.8 6 82 7.5 -1.9
FCLD Fidelity Cloud Computing ETF 1.7 39 49 3.2 -6.2
HFXI IQ FTSE International Equity Currency Neutral ETF 1.7 20 68 7.3 -2.1
ARTY iShares Future AI & Tech ETF 1.7 47 41 3.2 -6.1
IDHQ Invesco S&P International Developed High Quality ETF 1.7 29 59 6.7 -2.6
VEA Vanguard FTSE Developed Markets ETF 1.6 3 85 7.4 -1.9
QTUM Defiance Quantum ETF 1.6 40 48 5.4 -3.9
EDOG ALPS Emerging Sector Dividend Dogs ETF 1.6 60 28 11.0 +1.7
SMIN iShares MSCI India Small Cap ETF 1.6 79 9 3.6 -5.7
JGLO JPMorgan Global Select Equity ETF 1.6 33 55 5.0 -4.4
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.5 86 2 0.9 -8.5
EPOL iShares MSCI Poland ETF 1.5 59 29 11.1 +1.8
IGRO iShares International Dividend Growth ETF 1.5 15 73 7.3 -2.0
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.5 65 23 2.2 -7.1
IDX VanEck Indonesia Index ETF 1.4 57 31 9.1 -0.2
BLLD JPMorgan Sustainable Infrastructure ETF 1.4 49 39 6.1 -3.2
AQWA Global X Clean Water ETF 1.4 50 38 5.0 -4.4
CGW Invesco S&P Global Water Index ETF 1.4 57 31 4.7 -4.6
PIO Invesco Global Water ETF 1.4 75 13 4.8 -4.5
EFRA iShares Environmental Infrastructure and Industrials ETF 1.4 47 41 5.3 -4.1
COPY Tweedy, Browne Insider + Value ETF 1.4 80 8 11.9 +2.6
ICLN iShares Global Clean Energy ETF 1.4 41 47 5.8 -3.6
VIGI Vanguard International Dividend Appreciation ETF 1.3 10 78 6.3 -3.0
SAGP Strategas Global Policy Opportunities ETF 1.3 65 23 5.3 -4.1
DEW WisdomTree Global High Dividend Fund 1.3 58 30 8.8 -0.6
EIDO iShares MSCI Indonesia ETF 1.3 59 29 9.8 +0.5
JSTC Adasina Social Justice All Cap Global ETF 1.2 89 -1 4.9 -4.5
OND ProShares On-Demand ETF 1.1 58 30 0.7 -8.6
ESPO VanEck Video Gaming and eSports ETF 1.1 56 32 4.3 -5.1
HERO Global X Video Games & Esports ETF 1.1 50 38 4.0 -5.3
ODDS Pacer BlueStar Digital Entertainment ETF 1.1 60 28 2.1 -7.3
EDIV SPDR S&P Emerging Markets Dividend ETF 1.1 49 39 12.0 +2.6
FILL iShares MSCI Global Energy Producers ETF 1.0 39 49 12.0 +2.6
ROBO ROBO Global Robotics & Automation Index ETF 1.0 95 -7 3.6 -5.8
VEGI iShares MSCI Agriculture Producers ETF 1.0 39 49 8.7 -0.6
ANEW ProShares MSCI Transformational Changes ETF 1.0 45 43 6.1 -3.2
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.0 86 2 13.3 +4.0
IPAV Global X Infrastructure Development ex-U.S. ETF 0.9 55 33 7.6 -1.7
GVAL Cambria Global Value ETF 0.9 68 20 11.2 +1.8
CGV Conductor Global Equity Value ETF 0.9 130 -42 8.8 -0.6
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.9 24 64 7.6 -1.7
EWW iShares MSCI Mexico ETF 0.9 50 38 10.6 +1.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.9 46 42 10.4 +1.1
MOTO SmartETFs Smart Transportation & Technology ETF 0.9 68 20 7.2 -2.1
DRIV Global X Autonomous & Electric Vehicles ETF 0.9 68 20 5.3 -4.0
GCOW Pacer Global Cash Cows Dividend ETF 0.9 60 28 11.1 +1.8
WWJD Inspire International ETF 0.9 80 8 7.4 -2.0
BLDG Cambria Global Real Estate ETF 0.9 60 28 12.2 +2.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.8 80 8 4.9 -4.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.8 49 39 7.0 -2.3
TTAI FCF International Quality ETF 0.8 59 29 7.0 -2.3
BJK VanEck Gaming ETF 0.8 65 23 4.1 -5.3
GREK Global X MSCI Greece ETF 0.8 57 31 10.2 +0.9
BETZ Roundhill Sports Betting & iGaming ETF 0.8 75 13 2.0 -7.4
OBOR KraneShares MSCI One Belt One Road Index ETF 0.8 79 9 8.7 -0.6
METV Roundhill Ball Metaverse ETF 0.7 59 29 5.4 -4.0
ARGT Global X MSCI Argentina ETF 0.7 59 29 4.5 -4.8
SPDW SPDR Portfolio Developed World ex-US ETF 0.7 3 85 7.3 -2.0
EMIF iShares Emerging Markets Infrastructure ETF 0.7 60 28 6.7 -2.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.7 47 41 5.9 -3.5
BNGE First Trust S-Network Streaming and Gaming ETF 0.7 70 18 2.8 -6.6
IOO iShares Global 100 ETF 0.7 41 47 4.9 -4.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 0.7 60 28 7.2 -2.2
RFEU First Trust Riverfront Dynamic Europe ETF 0.7 83 5 10.6 +1.3
FLSA Franklin FTSE Saudi Arabia ETF 0.6 39 49 0.0 -9.3
TPIF Timothy Plan International ETF 0.6 62 26 6.3 -3.0
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.6 8 80 6.8 -2.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.6 65 23 8.1 -1.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.6 39 49 5.9 -3.5
KSA iShares MSCI Saudi Arabia ETF 0.6 74 14 0.0 -9.3
DGT SPDR Global Dow ETF 0.6 50 38 7.3 -2.0
COLO Global X MSCI Colombia ETF 0.6 62 26 18.4 +9.1
ABLG Abacus FCF International Leaders ETF 0.6 59 29 6.5 -2.8
TUR iShares MSCI Turkey ETF 0.6 58 30 20.9 +11.5
FDNI First Trust Dow Jones International Internet ETF 0.6 65 23 18.3 +8.9
NERD Roundhill Video Games ETF 0.6 50 38 3.3 -6.1
CIL VictoryShares International Volatility Wtd ETF 0.6 45 43 6.7 -2.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.5 9 79 5.9 -3.4
EWM iShares MSCI Malaysia ETF 0.5 50 38 7.2 -2.2
SDG iShares MSCI Global Sustainable Development Goals ETF 0.5 49 39 6.2 -3.1
FLMX Franklin FTSE Mexico ETF 0.5 19 69 11.0 +1.6
JXI iShares Global Utilities ETF 0.5 43 45 6.0 -3.4
EPU iShares MSCI Peru and Global Exposure ETF 0.5 59 29 7.5 -1.9
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.5 42 46 9.8 +0.5
BLES Inspire Global Hope ETF 0.5 61 27 6.9 -2.5
RFDI First Trust Riverfront Dynamic Developed International ETF 0.4 83 5 9.9 +0.6
IXG iShares Global Financials ETF 0.4 42 46 6.9 -2.5
RXI iShares Global Consumer Discretionary ETF 0.4 41 47 9.3 -0.1
CGGO Capital Group Global Growth Equity ETF 0.4 47 41 4.7 -4.6
IPKW Invesco International BuyBack Achievers ETF 0.4 55 33 13.6 +4.3
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.3 58 30 4.8 -4.6
CGGR Capital Group Growth ETF 0.3 39 49 3.2 -6.1
GINN Goldman Sachs Innovate Equity ETF 0.3 52 36 3.7 -5.6
SCHC Schwab International Small-Cap Equity ETF 0.3 11 77 6.8 -2.5
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 78 8.3 -1.0
FTRI First Trust Indxx Global Natural Resources Income ETF 0.3 70 18 8.3 -1.1
CGDG Capital Group Dividend Growers ETF 0.3 47 41 6.3 -3.1
SNSR Global X Internet of Things ETF 0.3 68 20 4.6 -4.8
IDAT iShares Future Cloud 5G and Tech ETF 0.3 47 41 4.8 -4.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.3 12 76 8.1 -1.2
FID First Trust S&P International Dividend Aristocrats ETF 0.2 60 28 8.2 -1.2
WDIV SPDR S&P Global Dividend ETF 0.2 40 48 9.6 +0.3
GGME Invesco Next Gen Media and Gaming ETF 0.2 60 28 4.3 -5.1
QAT iShares MSCI Qatar ETF 0.2 59 29 47.6 +38.3
SCHY Schwab International Dividend Equity ETF 0.2 14 74 9.8 +0.4
AVRE Avantis Real Estate ETF 0.2 17 71 7.3 -2.1
VGSR Vert Global Sustainable Real Estate ETF 0.2 47 41 7.4 -1.9
REET iShares Global REIT ETF 0.2 14 74 7.7 -1.6
DFGR Dimensional Global Real Estate ETF 0.2 22 66 7.6 -1.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.1 80 8 11.2 +1.9
VGK Vanguard FTSE Europe ETF 0.1 6 82 7.5 -1.8
SPEU SPDR Portfolio Europe ETF 0.1 7 81 7.4 -1.9
IQSI IQ Candriam International Equity ETF 0.0 15 73 6.8 -2.6
BKIE BNY Mellon International Equity ETF 0.0 4 84 7.2 -2.1
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 68 7.1 -2.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 49 8.3 -1.1
PICK iShares MSCI Global Metals & Mining Producers ETF 0.0 39 49 13.8 +4.4

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 13.4 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 88 bp
Equals: ALTAR Score 9.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 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.