Rayliant Quantamental Emerging Market ex-China Equity ETF
ALTAR
Score™		 8.4% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 12.1x P/Sales
ratio		 1.4x
P/BV
ratio		 1.5x Div.
yield		 2.8%


  • 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) $81
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) $152,626
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 19.5 %
SAMSUNG ELECTRONICS CO LTD 5.3 %
SAMSUNG SECURITIES CO LTD 3.4 %
HYNIX SEMICONDUCTOR INC 2.8 %
COROMANDEL INTERNATIONAL LTD 2.7 %
FUBON FINANCIAL HOLDING CO 2.6 %
JBS SA 2.3 %
HON HAI PRECISION INDUSTRY 2.2 %
UNITED INTEGRATED SERVICES 2.2 %
BANGKOK BANK PUBLIC COMPANY LIMITE 2.2 %
Total 45.2 %

TOP COUNTRY EXPOSURE
TAIWAN 31.8 %
INDIA 24.0 %
SOUTH KOREA 21.2 %
BRAZIL 10.4 %
THAILAND 3.9 %
UAE 2.6 %
SOUTH AFRICA 2.4 %
SAUDI ARABIA 2.3 %
CHILE 2.0 %
POLAND 1.6 %

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.
18.4% 10.3% -- -- 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.77 46%
MSCI EAFE 0.55 28%
MSCI Emg. Mkts. 0.57 35%

Technical Indicators
Recent close $28.83
30d moving avg. $28.02
Annualized volatility 15.3%
Short interest (ETF) 0.3%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.2%
Bid/Ask (% of price) 2.89%
ADV underlying (mns) $3,169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 292 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™: 8.4%


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
(%)
XC WisdomTree Emerging Markets Ex-China Fund 35.9 32 56 6.3 -2.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 34.5 24 64 7.7 -0.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 33.7 15 73 7.6 -0.9
XCEM Columbia EM Core ex-China ETF 32.0 16 72 7.9 -0.6
STXE Strive Emerging Markets Ex-China ETF 31.1 32 56 7.4 -1.1
AIA iShares Asia 50 ETF 31.1 50 38 11.6 +3.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 31.0 20 68 10.2 +1.7
EMXC iShares MSCI Emerging Markets ex China ETF 30.9 25 63 7.3 -1.2
FLTW Franklin FTSE Taiwan ETF 27.4 19 69 6.3 -2.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 27.0 32 56 6.7 -1.7
EWT iShares MSCI Taiwan ETF 27.0 58 30 6.2 -2.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 25.9 45 43 9.9 +1.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 25.5 32 56 8.8 +0.4
EEMA iShares MSCI Emerging Markets Asia ETF 25.1 49 39 9.8 +1.3
EMDM First Trust Bloomberg Emerging Market Democracies ETF 24.6 75 13 8.8 +0.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 24.6 33 55 9.6 +1.2
FTHF First Trust Emerging Markets Human Flourishing ETF 24.3 75 13 7.7 -0.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 23.1 66 22 9.1 +0.7
FLAX Franklin FTSE Asia Ex Japan ETF 23.1 19 69 8.9 +0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 22.9 70 18 8.9 +0.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 22.7 40 48 6.9 -1.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 22.7 15 73 9.9 +1.5
EMGF iShares Emerging Markets Equity Factor ETF 22.6 25 63 11.3 +2.9
BKEM BNY Mellon Emerging Markets Equity ETF 22.6 11 77 9.7 +1.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 22.3 36 52 9.4 +0.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 22.2 30 58 9.9 +1.5
MEM Matthews Emerging Markets Equity Active ETF 22.2 79 9 7.6 -0.9
XCNY SPDR S&P Emerging Markets ex-China ETF 22.2 15 73 7.5 -0.9
FDEM Fidelity Emerging Markets Multifactor ETF 22.1 25 63 12.6 +4.2
ESGE iShares ESG Aware MSCI EM ETF 21.8 25 63 9.8 +1.3
ECON Columbia Emerging Markets Consumer ETF 21.5 49 39 11.8 +3.3
EMMF WisdomTree Emerging Markets Multifactor Fund 21.4 48 40 7.3 -1.1
EEM iShares MSCI Emerging Markets ETF 21.2 69 19 9.9 +1.4
EEMO Invesco S&P Emerging Markets Momentum ETF 20.7 29 59 6.6 -1.9
MINV Matthews Asia Innovators Active ETF 20.2 79 9 7.0 -1.4
NUEM Nuveen ESG Emerging Markets Equity ETF 19.8 36 52 7.6 -0.9
JHEM John Hancock Multifactor Emerging Markets ETF 19.3 49 39 9.8 +1.4
DEHP Dimensional Emerging Markets High Profitability ETF 19.1 41 47 6.5 -2.0
PATN Pacer Nasdaq International Patent Leaders ETF 19.0 65 23 5.8 -2.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 18.8 53 35 7.6 -0.8
IEMG iShares Core MSCI Emerging Markets ETF 18.4 9 79 10.1 +1.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 18.3 95 -7 11.5 +3.1
DFAE Dimensional Emerging Core Equity Market ETF 18.1 35 53 9.0 +0.6
SCHE Schwab Emerging Markets Equity ETF 16.8 11 77 10.6 +2.2
FRDM Freedom 100 Emerging Markets ETF 16.5 49 39 7.9 -0.6
VWO Vanguard FTSE Emerging Markets ETF 15.9 7 81 10.0 +1.5
FLKR Franklin FTSE South Korea ETF 15.6 9 79 8.3 -0.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 15.6 50 38 10.9 +2.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 15.0 30 58 9.0 +0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 14.6 59 29 8.7 +0.3
DFEM Dimensional Emerging Markets Core Equity 2 ETF 14.5 38 50 9.0 +0.6
SPEM SPDR Portfolio Emerging Markets ETF 14.5 7 81 10.3 +1.8
EWY iShares MSCI South Korea ETF 14.4 58 30 7.6 -0.9
KNCT Invesco Next Gen Connectivity ETF 14.3 40 48 4.5 -3.9
UEVM VictoryShares Emerging Markets Value Momentum ETF 13.8 45 43 10.7 +2.3
ROAM Hartford Multifactor Emerging Markets ETF 13.4 44 44 11.9 +3.5
PXH Invesco FTSE RAFI Emerging Markets ETF 13.1 49 39 15.6 +7.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 13.0 44 44 10.6 +2.1
EMXF iShares ESG Advanced MSCI EM ETF 12.8 16 72 8.3 -0.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 12.7 39 49 16.0 +7.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 12.5 41 47 8.5 +0.1
EVLU iShares MSCI Emerging Markets Value Factor ETF 12.3 35 53 17.5 +9.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 12.3 25 63 6.5 -1.9
FLLA Franklin FTSE Latin America ETF 11.6 19 69 12.9 +4.5
IVES Wedbush ETFMG Global Cloud Technology ETF 11.5 68 20 6.3 -2.1
FLBR Franklin FTSE Brazil ETF 10.4 19 69 14.8 +6.4
LDEM iShares ESG MSCI EM Leaders ETF 10.0 17 71 13.6 +5.1
CGXU Capital Group International Focus Equity ETF 9.9 54 34 5.3 -3.1
AVES Avantis Emerging Markets Value ETF 9.8 36 52 10.9 +2.5
DFEV Dimensional Emerging Markets Value ETF 9.8 43 45 13.1 +4.6
AIVC Amplify Bloomberg AI Value Chain ETF 9.7 59 29 4.9 -3.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 9.5 33 55 8.4 -0.1
FLIN Franklin FTSE India ETF 9.5 19 69 4.2 -4.2
INDA iShares MSCI India ETF 9.2 65 23 4.7 -3.7
PIN Invesco India ETF 9.0 78 10 4.8 -3.7
AVEM Avantis Emerging Markets Equity ETF 8.9 33 55 8.4 -0.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 8.8 42 46 7.1 -1.4
FEM First Trust Emerging Markets AlphaDEX Fund 8.6 80 8 11.3 +2.8
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 8.6 80 8 9.0 +0.5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 8.5 58 30 10.0 +1.5
AVSE Avantis Responsible Emerging Markets Equity ETF 8.2 33 55 8.2 -0.3
EWZ iShares MSCI Brazil ETF 8.0 58 30 13.4 +5.0
DGIN VanEck Digital India ETF 7.9 71 17 2.2 -6.3
GMF SPDR S&P Emerging Asia Pacific ETF 7.7 49 39 9.2 +0.7
FBOT Fidelity Disruptive Automation ETF 7.7 50 38 3.6 -4.9
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 7.6 90 -2 6.9 -1.5
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 7.5 60 28 10.4 +2.0
IXN iShares Global Tech ETF 7.5 41 47 3.4 -5.0
VSGX Vanguard ESG International Stock ETF 7.4 10 78 7.5 -0.9
EPI WisdomTree India Earnings Fund 7.3 85 3 5.3 -3.2
RNEM First Trust Emerging Markets Equity Select ETF 7.0 75 13 7.8 -0.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 7.0 65 23 11.9 +3.5
EMM Global X Emerging Markets ex-China ETF 6.9 75 13 6.2 -2.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 6.8 18 70 7.9 -0.6
CHAT Roundhill Generative AI & Technology ETF 6.7 75 13 8.4 -0.1
RODE Hartford Multifactor Diversified International ETF 6.7 29 59 11.5 +3.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 6.7 41 47 7.2 -1.2
EYLD Cambria Emerging Shareholder Yield ETF 6.6 66 22 12.5 +4.0
ACWX iShares MSCI ACWI ex U.S. ETF 6.6 34 54 7.5 -0.9
JIG JPMorgan International Growth ETF 6.6 55 33 4.7 -3.8
EMC Global X Emerging Markets Great Consumer ETF 6.6 75 13 10.8 +2.4
NFTY First Trust India NIFTY 50 Equal Weight ETF 6.5 80 8 5.2 -3.3
WRND IQ Global Equity R&D Leaders ETF 6.3 18 70 8.0 -0.5
BKF iShares MSCI BIC ETF 6.2 69 19 13.5 +5.0
VEU Vanguard FTSE All-World ex-US Index Fund 6.2 4 84 8.0 -0.5
FGD First Trust Dow Jones Global Select Dividend Index Fund 6.1 56 32 10.9 +2.5
DEM WisdomTree Emerging Markets High Dividend Fund 6.0 63 25 13.7 +5.3
IQDF FlexShares International Quality Dividend Index Fund 6.0 47 41 8.9 +0.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 6.0 29 59 9.3 +0.8
INDY iShares India 50 ETF 5.9 89 -1 5.1 -3.4
VXUS Vanguard Total International Stock ETF 5.8 5 83 7.8 -0.7
IXUS iShares Core MSCI Total International Stock ETF 5.8 7 81 7.7 -0.7
FLN First Trust Latin America AlphaDEX Fund 5.5 80 8 10.5 +2.0
CARZ First Trust NASDAQ Global Auto Index Fund 5.5 70 18 4.3 -4.1
GLIN VanEck India Growth Leaders ETF 5.3 77 11 7.0 -1.5
DINT Davis Select International ETF 5.3 55 33 7.9 -0.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.2 70 18 13.2 +4.7
AGQI First Trust Active Global Quality Income ETF 5.2 85 3 4.8 -3.6
VIDI Vident International Equity Strategy ETF 5.1 61 27 10.8 +2.4
WTAI WisdomTree Artificial Intelligence and Innovation Fund 5.1 45 43 2.4 -6.1
VPL Vanguard FTSE Pacific ETF 5.0 7 81 6.7 -1.7
DVYE iShares Emerging Markets Dividend ETF 4.9 49 39 18.9 +10.5
FMET Fidelity Metaverse ETF 4.8 39 49 4.5 -3.9
NXTG First Trust Indxx NextG ETF 4.7 70 18 5.0 -3.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 4.7 47 41 8.3 -0.2
AIQ Global X Artificial Intelligence & Technology ETF 4.6 68 20 3.5 -5.0
DWLD Davis Select Worldwide ETF 4.5 63 25 7.2 -1.3
CLNR IQ Cleaner Transport ETF 4.5 45 43 6.7 -1.8
UMMA Wahed Dow Jones Islamic World ETF 4.2 65 23 5.1 -3.3
ADIV SmartETFs Asia Pacific Dividend Builder ETF 4.1 78 10 9.5 +1.1
SDEM Global X MSCI SuperDividend Emerging Markets ETF 4.0 67 21 14.0 +5.5
IMFL Invesco International Developed Dynamic Multifactor ETF 4.0 34 54 6.0 -2.4
FEOE First Eagle Overseas Equity ETF 4.0 79 9 7.7 -0.8
DSTX Distillate International Fundamental Stability & Value ETF 3.8 55 33 7.7 -0.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 3.5 30 58 7.8 -0.7
JPIN J.P. Morgan Diversified Return International Equity ETF 3.5 37 51 8.4 -0.0
FDTX Fidelity Disruptive Technology ETF 3.5 50 38 2.6 -5.8
IDV iShares International Select Dividend ETF 3.4 51 37 10.7 +2.3
OAIM OneAscent International Equity ETF 3.4 95 -7 5.6 -2.8
FNDF Schwab Fundamental International Large Co. Index ETF 3.2 25 63 9.4 +1.0
GTEK Goldman Sachs Future Tech Leaders Equity ETF 3.1 75 13 3.0 -5.5
IGPT Invesco AI and Next Gen Software ETF 3.1 60 28 3.9 -4.5
ILF iShares Latin America 40 ETF 3.1 48 40 12.7 +4.2
MOTI VanEck Morningstar International Moat ETF 3.0 58 30 11.8 +3.4
FEGE First Eagle Global Equity ETF 3.0 79 9 6.7 -1.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.9 45 43 8.7 +0.3
VCLN Virtus Duff & Phelps Clean Energy ETF 2.9 59 29 4.3 -4.1
LOUP Innovator Deepwater Frontier Tech ETF 2.8 70 18 1.1 -7.4
AIS VistaShares Artificial Intelligence Supercycle ETF 2.8 75 13 2.5 -6.0
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.7 65 23 7.8 -0.7
INCO Columbia India Consumer ETF 2.7 75 13 2.0 -6.5
EDIV SPDR S&P Emerging Markets Dividend ETF 2.7 49 39 12.1 +3.6
ACWV iShares MSCI Global Min Vol Factor ETF 2.7 20 68 6.2 -2.2
KLMT Invesco MSCI Global Climate 500 ETF 2.7 10 78 5.7 -2.8
SDIV Global X Superdividend ETF 2.7 58 30 42.6 +34.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.6 80 8 9.4 +1.0
UIVM VictoryShares International Value Momentum ETF 2.5 35 53 9.0 +0.6
XT iShares Exponential Technologies ETF 2.5 46 42 4.7 -3.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 2.4 20 68 5.5 -2.9
NDIA Global X India Active ETF 2.4 75 13 5.0 -3.4
HFXI IQ FTSE International Equity Currency Neutral ETF 2.4 20 68 6.9 -1.5
VYMI Vanguard International High Dividend Yield ETF 2.3 17 71 9.6 +1.2
ACWI iShares MSCI ACWI ETF 2.3 32 56 5.4 -3.0
MOTG VanEck Morningstar Global Wide Moat ETF 2.3 52 36 7.7 -0.7
GLOF iShares Global Equity Factor ETF 2.3 20 68 6.4 -2.0
CGV Conductor Global Equity Value ETF 2.3 130 -42 8.3 -0.2
UAE iShares MSCI UAE ETF 2.3 59 29 0.0 -8.4
FCLD Fidelity Cloud Computing ETF 2.2 39 49 3.2 -5.2
SUPL ProShares Supply Chain Logistics ETF 2.1 58 30 12.2 +3.8
VT Vanguard Total World Stock ETF 2.1 6 82 5.8 -2.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.1 70 18 7.7 -0.8
INDF Nifty India Financials ETF 2.1 75 13 8.7 +0.3
RGEF Rockefeller Global Equity ETF 2.0 55 33 4.7 -3.7
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 2.0 80 8 14.4 +6.0
FTAG First Trust Indxx Global Agriculture ETF 2.0 70 18 8.8 +0.3
JGLO JPMorgan Global Select Equity ETF 2.0 33 55 5.0 -3.5
ECH iShares MSCI Chile ETF 2.0 58 30 8.3 -0.1
AQWA Global X Clean Water ETF 2.0 50 38 4.9 -3.5
BLLD JPMorgan Sustainable Infrastructure ETF 2.0 49 39 6.2 -2.3
CGW Invesco S&P Global Water Index ETF 2.0 57 31 4.6 -3.8
PIO Invesco Global Water ETF 2.0 75 13 4.3 -4.2
EFRA iShares Environmental Infrastructure and Industrials ETF 2.0 47 41 5.2 -3.2
CWI SPDR MSCI ACWI ex-US ETF 1.9 30 58 7.4 -1.0
QTUM Defiance Quantum ETF 1.9 40 48 4.8 -3.7
SCHF Schwab International Equity ETF 1.9 6 82 7.2 -1.3
IDHQ Invesco S&P International Developed High Quality ETF 1.9 29 59 6.5 -1.9
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.8 12 76 5.1 -3.4
ARTY iShares Future AI & Tech ETF 1.8 47 41 3.2 -5.2
VEA Vanguard FTSE Developed Markets ETF 1.8 3 85 7.1 -1.3
DTCR Global X Data Center & Digital Infrastructure ETF 1.7 50 38 3.8 -4.7
EDOG ALPS Emerging Sector Dividend Dogs ETF 1.7 60 28 10.8 +2.3
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.6 86 2 0.5 -8.0
EPOL iShares MSCI Poland ETF 1.6 59 29 11.1 +2.6
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.6 65 23 1.9 -6.6
SMIN iShares MSCI India Small Cap ETF 1.6 79 9 4.1 -4.4
ICLN iShares Global Clean Energy ETF 1.6 41 47 4.4 -4.0
COPY Tweedy, Browne Insider + Value ETF 1.5 80 8 11.9 +3.5
IDX VanEck Indonesia Index ETF 1.4 57 31 7.3 -1.1
DEW WisdomTree Global High Dividend Fund 1.4 58 30 8.4 0.0
ROBO ROBO Global Robotics & Automation Index ETF 1.3 95 -7 3.3 -5.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.2 24 64 7.6 -0.9
SAGP Strategas Global Policy Opportunities ETF 1.2 65 23 5.5 -3.0
NUKZ Range Nuclear Renaissance Index ETF 1.2 85 3 1.6 -6.9
IGRO iShares International Dividend Growth ETF 1.2 15 73 7.3 -1.2
HERO Global X Video Games & Esports ETF 1.2 50 38 3.9 -4.6
OND ProShares On-Demand ETF 1.2 58 30 0.7 -7.8
ESPO VanEck Video Gaming and eSports ETF 1.2 56 32 3.9 -4.5
ODDS Pacer BlueStar Digital Entertainment ETF 1.2 60 28 2.3 -6.1
JSTC Adasina Social Justice All Cap Global ETF 1.2 89 -1 4.9 -3.6
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 1.1 46 42 9.7 +1.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.1 86 2 13.6 +5.2
VEGI iShares MSCI Agriculture Producers ETF 1.0 39 49 9.1 +0.6
MOTO SmartETFs Smart Transportation & Technology ETF 1.0 68 20 7.1 -1.3
GVAL Cambria Global Value ETF 1.0 68 20 10.6 +2.2
FILL iShares MSCI Global Energy Producers ETF 1.0 39 49 11.9 +3.5
VIGI Vanguard International Dividend Appreciation ETF 1.0 10 78 6.4 -2.1
GCOW Pacer Global Cash Cows Dividend ETF 1.0 60 28 11.1 +2.7
ANEW ProShares MSCI Transformational Changes ETF 1.0 45 43 6.2 -2.3
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.0 80 8 5.0 -3.5
FNDC Schwab Fundamental International Small Co. Index ETF 1.0 39 49 5.8 -2.7
EIDO iShares MSCI Indonesia ETF 0.9 59 29 8.7 +0.2
BLDG Cambria Global Real Estate ETF 0.9 60 28 12.0 +3.6
IPAV Global X Infrastructure Development ex-U.S. ETF 0.9 55 33 7.6 -0.9
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.9 47 41 5.8 -2.7
GREK Global X MSCI Greece ETF 0.9 57 31 10.9 +2.4
BJK VanEck Gaming ETF 0.9 65 23 4.5 -3.9
BETZ Roundhill Sports Betting & iGaming ETF 0.9 75 13 2.9 -5.5
WWJD Inspire International ETF 0.9 80 8 7.3 -1.1
EWW iShares MSCI Mexico ETF 0.9 50 38 9.8 +1.3
ARGT Global X MSCI Argentina ETF 0.8 59 29 5.2 -3.3
TPIF Timothy Plan International ETF 0.8 62 26 6.2 -2.2
TTAI FCF International Quality ETF 0.8 59 29 7.4 -1.1
EMIF iShares Emerging Markets Infrastructure ETF 0.8 60 28 5.0 -3.5
IOO iShares Global 100 ETF 0.8 41 47 4.7 -3.8
OBOR KraneShares MSCI One Belt One Road Index ETF 0.8 79 9 8.5 +0.0
METV Roundhill Ball Metaverse ETF 0.7 59 29 7.5 -0.9
SPDW SPDR Portfolio Developed World ex-US ETF 0.7 3 85 6.9 -1.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.7 8 80 6.1 -2.3
CIL VictoryShares International Volatility Wtd ETF 0.7 45 43 6.7 -1.8
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.7 49 39 6.9 -1.6
NERD Roundhill Video Games ETF 0.7 50 38 3.1 -5.4
FLSA Franklin FTSE Saudi Arabia ETF 0.7 39 49 0.0 -8.4
RFEU First Trust Riverfront Dynamic Europe ETF 0.7 83 5 10.5 +2.1
KSA iShares MSCI Saudi Arabia ETF 0.6 74 14 0.0 -8.4
COLO Global X MSCI Colombia ETF 0.6 62 26 16.4 +7.9
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 0.6 60 28 8.4 -0.0
ABLG Abacus FCF International Leaders ETF 0.6 59 29 6.9 -1.6
EWX SPDR S&P Emerging Markets Small Cap ETF 0.6 65 23 7.8 -0.6
DGT SPDR Global Dow ETF 0.6 50 38 6.8 -1.6
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 39 5.7 -2.7
JXI iShares Global Utilities ETF 0.5 43 45 5.4 -3.0
EWM iShares MSCI Malaysia ETF 0.5 50 38 6.8 -1.6
DWX SPDR S&P International Dividend ETF 0.5 45 43 6.2 -2.2
EPU iShares MSCI Peru and Global Exposure ETF 0.5 59 29 5.6 -2.9
FDNI First Trust Dow Jones International Internet ETF 0.5 65 23 20.8 +12.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.5 9 79 5.6 -2.9
CGGR Capital Group Growth ETF 0.5 39 49 3.1 -5.3
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.5 42 46 9.7 +1.3
TUR iShares MSCI Turkey ETF 0.5 58 30 19.1 +10.6
FLMX Franklin FTSE Mexico ETF 0.5 19 69 10.1 +1.7
BNGE First Trust S-Network Streaming and Gaming ETF 0.4 70 18 2.6 -5.8
BLES Inspire Global Hope ETF 0.4 61 27 6.8 -1.6
CGGO Capital Group Global Growth Equity ETF 0.4 47 41 4.6 -3.9
IPKW Invesco International BuyBack Achievers ETF 0.4 55 33 12.7 +4.3
RFDI First Trust Riverfront Dynamic Developed International ETF 0.4 83 5 9.4 +1.0
IXG iShares Global Financials ETF 0.4 42 46 6.7 -1.8
GINN Goldman Sachs Innovate Equity ETF 0.4 52 36 3.5 -4.9
RXI iShares Global Consumer Discretionary ETF 0.4 41 47 9.2 +0.8
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.4 58 30 4.4 -4.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 78 8.1 -0.4
FID First Trust S&P International Dividend Aristocrats ETF 0.3 60 28 7.9 -0.5
WDIV SPDR S&P Global Dividend ETF 0.3 40 48 9.3 +0.8
SNSR Global X Internet of Things ETF 0.3 68 20 4.5 -3.9
CGDG Capital Group Dividend Growers ETF 0.3 47 41 6.2 -2.2
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.3 12 76 8.1 -0.4
QAT iShares MSCI Qatar ETF 0.3 59 29 49.6 +41.2
SCHC Schwab International Small-Cap Equity ETF 0.3 11 77 6.5 -1.9
FTRI First Trust Indxx Global Natural Resources Income ETF 0.3 70 18 7.4 -1.0
GGME Invesco Next Gen Media and Gaming ETF 0.2 60 28 4.3 -4.2
AVRE Avantis Real Estate ETF 0.2 17 71 7.3 -1.2
SCHY Schwab International Dividend Equity ETF 0.2 14 74 9.8 +1.3
VGSR Vert Global Sustainable Real Estate ETF 0.2 47 41 7.4 -1.0
REET iShares Global REIT ETF 0.2 14 74 7.5 -1.0
DFGR Dimensional Global Real Estate ETF 0.2 22 66 7.5 -0.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.1 80 8 10.5 +2.0
VGK Vanguard FTSE Europe ETF 0.1 6 82 7.5 -1.0
SPEU SPDR Portfolio Europe ETF 0.1 7 81 7.4 -1.1
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 68 6.8 -1.6
IQSI IQ Candriam International Equity ETF 0.0 15 73 6.6 -1.9
BKIE BNY Mellon International Equity ETF 0.0 4 84 7.0 -1.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 49 7.9 -0.6
PICK iShares MSCI Global Metals & Mining Producers ETF 0.0 39 49 11.3 +2.8

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 12.9 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 88 bp
Equals: ALTAR Score 8.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.51
 
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.