Rayliant SMDAM Japan Equity ETF
ALTAR
Score™		 2.8% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 25.8x P/Sales
ratio		 1.7x
P/BV
ratio		 2.4x Div.
yield		 1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Rayliant SMDAM Japan Equity ETF seeks to provide investors with long-term capital appreciation by investing primarily in equities of Japanese companies, focusing on innovative investment strategies and factor-based research.

FUND BASICS
Category International Equities
Fund Sponsor Rayliant Investment Research
Website funds.rayliant.com/rayj/
Inception date Apr 04, 2024
Assets (mns) $25
Currency USD
Expense ratio 72 bp
Distributions

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 33
Wgt avg mkt cap (mns) $50,940
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FUJIKURA LTD 6.0 %
SHOWA DENKO K K 5.9 %
MITSUBISHI UFJ FINANCIAL GRO 5.6 %
TOYOTA TSUSHO CORP 4.3 %
KIOXIA HOLDINGS CORP ORDINARY SHAR 4.2 %
FOOD & LIFE COMPANIES LTD. 4.2 %
FAST RETAILING CO LTD 4.0 %
TOYOTA MOTOR CORP 4.0 %
CHUGAI PHARMACEUTICAL CO LTD 4.0 %
DAIFUKU CO LTD 3.9 %
Total 46.0 %

TOP COUNTRY EXPOSURE
JAPAN 90.8 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
25.5% 34.8% -- -- 25.6%

Market Correlations
versus... Beta R-squared
S&P500 0.95 23%
MSCI EAFE 1.06 46%
MSCI Emg. Mkts. 0.67 32%

Technical Indicators
Recent close $40.78
30d moving avg. $38.64
Annualized volatility 0.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.5%
Bid/Ask (% of price) 3.81%
ADV underlying (mns) $0

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 221 potential alternatives to the Rayliant SMDAM Japan Equity ETF ETF based on the alternatives' overlap in portfolio holdings with RAYJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RAYJ Expense: 72 bp ALTAR Score™: 2.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RAYJ
Ticker Fund
Name		 Overlap1
vs RAYJ
(%)		 Expense
ratio
(bp)		 Savings
vs RAYJ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs RAYJ
(%)
BBJP JPMorgan BetaBuilders Japan ETF 21.9 19 53 5.1 +2.3
EWJ iShares MSCI Japan ETF 21.9 50 22 4.7 +1.9
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 21.8 25 47 5.3 +2.5
HEWJ iShares Currency Hedged MSCI Japan ETF 21.8 50 22 5.1 +2.3
FLJH Franklin FTSE Japan Hedged ETF 19.8 9 63 4.9 +2.1
FLJP Franklin FTSE Japan ETF 19.8 9 63 5.2 +2.4
DXJ WisdomTree Japan Hedged Equity Fund 18.4 48 24 5.1 +2.3
JPXN iShares JPX-Nikkei 400 ETF 15.3 48 24 5.2 +2.4
JIVE JPMorgan International Value ETF 12.6 55 17 8.1 +5.3
IPAC iShares Core MSCI Pacific ETF 12.5 9 63 5.4 +2.6
EWJV iShares MSCI Japan Value ETF 12.1 15 57 6.9 +4.1
VIGI Vanguard International Dividend Appreciation ETF 10.9 10 62 6.0 +3.2
VPL Vanguard FTSE Pacific ETF 9.9 7 65 4.9 +2.1
FJP First Trust Japan AlphaDEX Fund 9.0 80 -8 7.2 +4.4
OEFA ALPS O’Shares International Developed Quality Dividend ETF 7.6 48 24 4.7 +1.9
PPIE Putnam PanAgora ESG International Equity ETF 7.5 49 23 6.2 +3.4
CLNR IQ Cleaner Transport ETF 7.4 45 27 3.9 +1.1
RXI iShares Global Consumer Discretionary ETF 7.3 41 31 8.3 +5.5
DIHP Dimensional International High Profitability ETF 7.1 29 43 5.6 +2.8
DTAN Sparkline International Intangible Value ETF 6.9 55 17 7.2 +4.4
FENI Fidelity Enhanced International ETF 6.5 28 44 5.7 +2.9
IQDG WisdomTree International Quality Dividend Growth Fund 6.5 42 30 5.6 +2.8
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 6.4 58 14 5.2 +2.4
PATN Pacer Nasdaq International Patent Leaders ETF 6.3 65 7 3.8 +1.0
EFG iShares MSCI EAFE Growth ETF 6.3 36 36 3.7 +0.9
IQSI IQ Candriam International Equity ETF 5.8 15 57 5.4 +2.6
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 5.7 20 52 5.5 +2.7
STXI Strive International Developed Markets ETF 5.6 29 43 6.2 +3.4
IMOM Alpha Architect International Quantitative Momentum ETF 5.6 49 23 4.1 +1.3
IGRO iShares International Dividend Growth ETF 5.6 15 57 6.7 +3.9
NUDM Nuveen ESG International Developed Markets Equity ETF 5.5 31 41 5.4 +2.6
JIRE JPMorgan International Research Enhanced Equity ETF 5.3 24 48 5.7 +2.9
GSID Goldman Sachs MarketBeta International Equity ETF 5.3 20 52 5.7 +2.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.3 42 30 3.9 +1.1
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 5.3 20 52 5.7 +2.9
HFXI IQ FTSE International Equity Currency Neutral ETF 5.3 20 52 5.4 +2.6
EFA iShares MSCI EAFE ETF 5.2 35 37 5.7 +2.9
HEFA iShares Currency Hedged MSCI EAFE ETF 5.2 35 37 5.6 +2.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 5.2 36 36 5.2 +2.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 5.2 35 37 5.6 +2.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 5.1 47 25 6.9 +4.1
ESGD iShares ESG Aware MSCI EAFE ETF 5.1 20 52 5.7 +2.9
OAIM OneAscent International Equity ETF 5.0 95 -23 4.3 +1.5
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 4.9 58 14 5.3 +2.5
INTF iShares International Equity Factor ETF 4.9 15 57 6.5 +3.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 4.8 14 58 5.1 +2.3
CGIE Capital Group International Equity ETF 4.8 54 18 4.5 +1.7
IDHQ Invesco S&P International Developed High Quality ETF 4.7 29 43 5.0 +2.2
IEFA iShares Core MSCI EAFE ETF 4.6 7 65 6.0 +3.2
BKIE BNY Mellon International Equity ETF 4.6 4 68 5.9 +3.1
DIVI Franklin International Core Dividend Tilt Index ETF 4.6 9 63 6.4 +3.6
DFAI Dimensional International Core Equity Market ETF 4.5 18 54 5.9 +3.1
DWM WisdomTree International Equity Fund 4.4 48 24 5.5 +2.7
DMXF iShares ESG Advanced MSCI EAFE ETF 4.4 12 60 4.8 +2.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 4.4 40 32 5.6 +2.8
DOL WisdomTree International LargeCap Dividend Fund 4.4 48 24 5.5 +2.7
IMFL Invesco International Developed Dynamic Multifactor ETF 4.3 34 38 5.0 +2.2
IMTM iShares MSCI Intl Momentum Factor ETF 4.3 30 42 4.6 +1.8
IVSI Applied Finance IVS International Large ETF 4.2 65 7 5.9 +3.1
EFV iShares MSCI EAFE Value ETF 4.2 34 38 7.6 +4.8
SCHF Schwab International Equity ETF 4.2 6 66 5.7 +2.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 4.1 75 -3 1.6 -1.2
IDEV iShares Core MSCI International Developed Markets ETF 4.0 4 68 6.0 +3.2
SPDW SPDR Portfolio Developed World ex-US ETF 4.0 3 69 5.6 +2.8
JHMD John Hancock Multifactor Developed International ETF 4.0 39 33 6.1 +3.3
OZEM Roundhill GLP-1 & Weight Loss ETF 4.0 59 13 5.6 +2.8
THNR Amplify Weight Loss Drug & Treatment ETF 4.0 59 13 6.0 +3.2
UMMA Wahed Dow Jones Islamic World ETF 4.0 65 7 3.3 +0.5
JAPN Horizon Kinetics Japan Owner Operator ETF 4.0 85 -13 6.2 +3.4
DFSI Dimensional International Sustainability Core 1 ETF 3.9 24 48 5.5 +2.7
VEA Vanguard FTSE Developed Markets ETF 3.8 3 69 5.7 +2.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.8 45 27 6.6 +3.8
IVLU iShares MSCI Intl Value Factor ETF 3.8 30 42 8.0 +5.2
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.7 30 42 6.1 +3.3
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 3.6 12 60 5.2 +2.4
PIO Invesco Global Water ETF 3.6 75 -3 4.4 +1.6
JIG JPMorgan International Growth ETF 3.6 55 17 3.4 +0.6
FIVA Fidelity International Value Factor ETF 3.5 18 54 7.1 +4.3
EXI iShares Global Industrials ETF 3.4 42 30 3.5 +0.7
BOTZ Global X Robotics & Artificial Intelligence ETF 3.4 69 3 1.9 -0.9
MJSC MUFG Japan Small Cap Active ETF 3.4 85 -13 4.4 +1.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.3 25 47 6.1 +3.3
FBOT Fidelity Disruptive Automation ETF 3.3 50 22 2.9 +0.1
RGEF Rockefeller Global Equity ETF 3.3 55 17 3.7 +0.9
QINT American Century Quality Diversified International ETF 3.3 39 33 6.5 +3.7
FNDF Schwab Fundamental International Large Co. Index ETF 3.2 25 47 7.2 +4.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 3.1 18 54 6.2 +3.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.1 41 31 5.8 +3.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.1 39 33 6.1 +3.3
CWI SPDR MSCI ACWI ex-US ETF 3.0 30 42 6.3 +3.5
ACWX iShares MSCI ACWI ex U.S. ETF 3.0 34 38 6.2 +3.4
VEU Vanguard FTSE All-World ex-US Index Fund 3.0 4 68 6.5 +3.7
IFGL iShares International Developed Real Estate ETF 3.0 48 24 7.5 +4.7
RWX SPDR Dow Jones International Real Estate ETF 3.0 59 13 7.2 +4.4
TPIF Timothy Plan International ETF 3.0 62 10 5.5 +2.7
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 3.0 10 62 8.5 +5.7
FIDI Fidelity International High Dividend ETF 3.0 18 54 7.2 +4.4
IPAV Global X Infrastructure Development ex-U.S. ETF 3.0 55 17 5.6 +2.8
RFDI First Trust Riverfront Dynamic Developed International ETF 3.0 83 -11 7.5 +4.7
DFIC Dimensional International Core Equity 2 ETF 2.9 23 49 6.1 +3.3
KNO AXS Knowledge Leaders ETF 2.9 78 -6 3.9 +1.1
VSGX Vanguard ESG International Stock ETF 2.9 10 62 6.3 +3.5
ROBO ROBO Global Robotics & Automation Index ETF 2.8 95 -23 2.3 -0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.8 39 33 6.9 +4.1
VXUS Vanguard Total International Stock ETF 2.8 5 67 6.4 +3.6
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.8 80 -8 3.4 +0.6
DFIV Dimensional International Value ETF 2.8 27 45 7.7 +4.9
IXUS iShares Core MSCI Total International Stock ETF 2.7 7 65 6.4 +3.6
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.7 80 -8 6.3 +3.5
AGNG Global X Aging Population ETF 2.7 50 22 4.4 +1.6
PIEL Pacer International Export Leaders ETF 2.6 60 12 3.8 +1.0
NXTG First Trust Indxx NextG ETF 2.6 70 2 3.4 +0.6
QTUM Defiance Quantum ETF 2.5 40 32 3.3 +0.5
VNQI Vanguard Global ex-U.S. Real Estate ETF 2.5 12 60 8.6 +5.8
FRGN Horizon International Equity ETF 2.5 75 -3 7.5 +4.7
JGLO JPMorgan Global Select Equity ETF 2.4 33 39 4.3 +1.5
IQLT iShares MSCI Intl Quality Factor ETF 2.4 30 42 5.4 +2.6
AGQI First Trust Active Global Quality Income ETF 2.4 85 -13 6.3 +3.5
ARVR First Trust Indxx Metaverse ETF 2.4 70 2 3.6 +0.8
BNGE First Trust S-Network Streaming and Gaming ETF 2.4 70 2 3.1 +0.3
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 2.4 75 -3 3.4 +0.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.3 58 14 3.3 +0.5
DXIV Dimensional International Vector Equity ETF 2.3 34 38 6.5 +3.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 42 6.2 +3.4
VYMI Vanguard International High Dividend Yield ETF 2.2 17 55 7.9 +5.1
NUKZ Range Nuclear Renaissance Index ETF 2.2 85 -13 1.3 -1.5
EFAV iShares MSCI EAFE Min Vol Factor ETF 2.1 22 50 5.9 +3.1
CIL VictoryShares International Volatility Wtd ETF 2.1 45 27 5.8 +3.0
AZTD Aztlan Global Stock Selection DM SMID ETF 2.1 75 -3 4.0 +1.2
IBOT Vaneck Robotics ETF 2.1 47 25 3.1 +0.3
IQDF FlexShares International Quality Dividend Index Fund 2.0 47 25 7.3 +4.5
HYDR Global X Hydrogen ETF 2.0 50 22 -5.0 -7.8
BATT Amplify Lithium & Battery Technology ETF 2.0 59 13 1.7 -1.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.0 50 22 5.7 +2.9
AVDE Avantis International Equity ETF 1.9 23 49 6.2 +3.4
FAN First Trust Global Wind Energy ETF 1.9 60 12 2.8 +0.0
MOTG VanEck Morningstar Global Wide Moat ETF 1.9 52 20 8.0 +5.2
WRND IQ Global Equity R&D Leaders ETF 1.9 18 54 4.0 +1.2
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.9 65 7 3.9 +1.1
IDMO Invesco S&P International Developed Momentum ETF 1.8 25 47 5.0 +2.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.8 32 40 5.4 +2.6
METV Roundhill Ball Metaverse ETF 1.8 59 13 8.0 +5.2
CGXU Capital Group International Focus Equity ETF 1.7 54 18 3.6 +0.8
DRIV Global X Autonomous & Electric Vehicles ETF 1.7 68 4 2.9 +0.1
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.7 65 7 1.4 -1.4
DGT State Street SPDR Global Dow ETF 1.7 50 22 5.6 +2.8
SCJ iShares MSCI Japan Small-Cap ETF 1.7 50 22 5.5 +2.7
AVSD Avantis Responsible International Equity ETF 1.7 23 49 5.9 +3.1
IXG iShares Global Financials ETF 1.6 42 30 6.1 +3.3
MINV Matthews Asia Innovators Active ETF 1.6 79 -7 4.7 +1.9
RWO SPDR Dow Jones Global Real Estate ETF 1.6 50 22 6.3 +3.5
GLBL Pacer MSCI World Industry Advantage ETF 1.6 65 7 3.4 +0.6
BULD Pacer BlueStar Engineering the Future ETF 1.5 60 12 0.2 -2.6
ESGG FlexShares STOXX Global ESG Select Index Fund 1.5 42 30 4.0 +1.2
IQRA IQ CBRE Real Assets ETF 1.5 65 7 5.9 +3.1
IOO iShares Global 100 ETF 1.4 41 31 3.9 +1.1
CARZ First Trust NASDAQ Global Auto Index Fund 1.4 70 2 2.1 -0.7
JPIN J.P. Morgan Diversified Return International Equity ETF 1.4 37 35 7.0 +4.2
GEW Cambria Global EW ETF 1.4 29 43 5.3 +2.5
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 1.4 25 47 5.3 +2.5
ICOW Pacer Developed Markets International Cash Cows 100 ETF 1.4 65 7 7.9 +5.1
ERET iShares Environmentally Aware Real Estate ETF 1.3 30 42 6.9 +4.1
GLOF iShares Global Equity Factor ETF 1.3 20 52 5.5 +2.7
FDEV Fidelity International Multifactor ETF 1.3 18 54 7.2 +4.4
HRTS Tema Heart & Health ETF 1.3 75 -3 3.0 +0.2
URTH iShares MSCI World ETF 1.3 24 48 4.3 +1.5
FEOE First Eagle Overseas Equity ETF 1.3 79 -7 6.1 +3.3
AVIV Avantis International Large Cap Value ETF 1.2 25 47 6.9 +4.1
KLMT Invesco MSCI Global Climate 500 ETF 1.2 10 62 4.9 +2.1
FDTX Fidelity Disruptive Technology ETF 1.2 50 22 1.4 -1.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 1.1 9 63 4.8 +2.0
ACWI iShares MSCI ACWI ETF 1.1 32 40 4.6 +1.8
HUMN Roundhill Humanoid Robotics ETF 1.1 75 -3 1.1 -1.7
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.1 24 48 6.8 +4.0
VT Vanguard Total World Stock ETF 1.1 6 66 4.9 +2.1
INEQ Columbia International Equity Income ETF 1.0 45 27 7.8 +5.0
DIM WisdomTree International MidCap Dividend Fund 1.0 58 14 6.2 +3.4
WWJD Inspire International ETF 1.0 80 -8 6.3 +3.5
QWLD SPDR MSCI World StrategicFactors ETF 1.0 30 42 5.2 +2.4
DWMF WisdomTree International Multifactor Fund 0.9 38 34 6.6 +3.8
KNCT Invesco Next Gen Connectivity ETF 0.9 40 32 2.7 -0.1
GINN Goldman Sachs Innovate Equity ETF 0.9 52 20 3.7 +0.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.9 20 52 4.7 +1.9
SHPP Pacer Industrials and Logistics ETF 0.8 60 12 6.8 +4.0
UIVM VictoryShares International Value Momentum ETF 0.8 35 37 8.0 +5.2
KOCG FIS Knights of Columbus Global Belief ETF 0.8 75 -3 4.5 +1.7
AIQ Global X Artificial Intelligence & Technology ETF 0.7 68 4 2.6 -0.2
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.7 49 23 6.0 +3.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 60 4.4 +1.6
AQLT iShares MSCI Global Quality Factor ETF 0.7 18 54 0.0 -2.8
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.7 80 -8 5.5 +2.7
CANC Tema Oncology ETF 0.7 75 -3 -2.4 -5.2
DFJ WisdomTree Japan SmallCap Dividend Fund 0.6 58 14 6.5 +3.7
HART IQ Healthy Hearts ETF 0.6 45 27 5.8 +3.0
SCZ iShares MSCI EAFE Small-Cap ETF 0.6 40 32 6.1 +3.3
IVRS iShares Future Metaverse Tech and Communications ETF 0.6 47 25 5.1 +2.3
FNDC Schwab Fundamental International Small Co. Index ETF 0.6 39 33 6.7 +3.9
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 0.5 68 4 0.5 -2.3
TTAI FCF International Quality ETF 0.5 59 13 6.8 +4.0
JSTC Adasina Social Justice All Cap Global ETF 0.5 89 -17 4.2 +1.4
BLES Inspire Global Hope ETF 0.5 61 11 5.7 +2.9
KXI iShares Global Consumer Staples ETF 0.5 41 31 5.4 +2.6
JHID John Hancock International High Dividend ETF 0.4 46 26 7.7 +4.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.4 29 43 7.0 +4.2
FEGE First Eagle Global Equity ETF 0.4 79 -7 6.1 +3.3
WLDR Affinity World Leaders Equity ETF 0.4 67 5 5.5 +2.7
IXJ iShares Global Healthcare ETF 0.4 42 30 6.5 +3.7
IBAT iShares Energy Storage & Materials ETF 0.4 47 25 1.4 -1.4
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 23 4.5 +1.7
XT iShares Exponential Technologies ETF 0.3 46 26 3.8 +1.0
IXN iShares Global Tech ETF 0.3 41 31 2.5 -0.3
AVDS Avantis International Small Cap Equity ETF 0.3 30 42 6.0 +3.2
GWX SPDR S&P International Small Cap ETF 0.2 40 32 5.8 +3.0
WSML iShares MSCI World Small-Cap ETF 0.2 15 57 5.3 +2.5
DLS WisdomTree International SmallCap Dividend Fund 0.2 58 14 7.3 +4.5
ACWV iShares MSCI Global Min Vol Factor ETF 0.2 20 52 5.8 +3.0
ION ProShares S&P Global Core Battery Metals ETF 0.2 58 14 5.4 +2.6
AVDV Avantis International Small Cap Value ETF 0.1 36 36 7.6 +4.8
SCHC Schwab International Small-Cap Equity ETF 0.1 11 61 6.5 +3.7
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 64 6.2 +3.4
DFIS Dimensional International Small Cap ETF 0.0 39 33 6.1 +3.3

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 SMDAM Japan Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.2 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 72 bp
Equals: ALTAR Score 2.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 CATEGORY
AVERAGE		 1.64
 
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.