Global X Solar ETF
ALTAR
Score™		 4.7% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 15.4x P/Sales
ratio		 1.1x
P/BV
ratio		 1.6x Div.
yield		 1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
RAYS tracks a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria.

FUND BASICS
Category Global Equities
Fund Sponsor Global X
Website www.globalxetfs.com
Inception date Sep 08, 2021
Assets (mns) $6
Currency USD
Expense ratio 51 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $9,290
Large cap (>$10bn) 36.4%
Mid cap ($2-10bn) 43.1%
Small cap (<$2bn) 20.4%
Developed mkts 41.8%
Emerging mkts 58.3%

TOP TEN HOLDINGS
ENPHASE ENERGY INC 10.5 %
FIRST SOLAR INC 10.1 %
SUNGROW POWER SUPPLY CO., LTD. CLA 9.9 %
XI'AN LONGI SILICON MATERIALS CO., 6.9 %
NINGBO DEYE TECHNOLOGY CO., LTD. C 4.9 %
SOLAREDGE TECHNOLOGIES, INC. 3.6 %
JA SOLAR TECHNOLOGY CO., LTD. CLAS 3.5 %
XINYI SOLAR HOLDINGS LTD 3.3 %
SHENZHEN S.C NEW ENERGY TECHNOLOGY 2.7 %
SHANGHAI AIKO SOLAR ENERGY CO., LT 2.7 %
Total 58.1 %

TOP COUNTRY EXPOSURE
CHINA 51.5 %
UNITED STATES 34.2 %
GERMANY 3.8 %
SOUTH KOREA 2.5 %
TAIWAN 1.8 %
BRITAIN 1.5 %
CANADA 0.9 %
SPAIN 0.7 %
JAPAN 0.7 %
TURKEY 0.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.2% -44.3% -- -- -24.7%

Market Correlations
versus... Beta R-squared
S&P500 1.07 27%
MSCI EAFE 1.09 27%
MSCI Emg. Mkts. 1.06 26%

Technical Indicators
Recent close $10.57
30d moving avg. $11.86
Annualized volatility 38.7%
Short interest (ETF) 1.3%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.5%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $2,363

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 422 potential alternatives to the Global X Solar ETF ETF based on the alternatives' overlap in portfolio holdings with RAYS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RAYS Expense: 51 bp ALTAR Score™: 4.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RAYS
Ticker Fund
Name		 Overlap1
vs RAYS
(%)		 Expense
ratio
(bp)		 Savings
vs RAYS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs RAYS
(%)
TAN Invesco Solar ETF 49.2 67 -16 6.2 +1.5
ICLN iShares Global Clean Energy ETF 35.2 41 10 4.3 -0.4
FRNW Fidelity Clean Energy ETF 30.9 39 12 3.7 -1.0
CTEC Global X CleanTech ETF 30.8 50 1 1.0 -3.7
VCLN Virtus Duff & Phelps Clean Energy ETF 28.6 59 -8 3.5 -1.2
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 25.9 58 -7 -0.3 -5.0
CNRG SPDR S&P Kensho Clean Power ETF 19.8 45 6 -7.5 -12.1
ACES ALPS Clean Energy ETF 19.7 55 -4 -5.0 -9.7
RNEW VanEck Green Infrastructure ETF 15.3 45 6 -0.4 -5.1
ETEC iShares Breakthrough Environmental Solutions ETF 14.8 47 4 5.3 +0.7
ERTH Invesco MSCI Sustainable Future ETF 14.6 62 -11 3.7 -1.0
KGRN KraneShares MSCI China Clean Technology Index ETF 13.0 79 -28 6.5 +1.8
PBW Invesco WilderHill Clean Energy ETF 12.8 66 -15 -19.8 -24.5
PBD Invesco Global Clean Energy ETF 12.6 75 -24 -3.9 -8.6
SMOG VanEck Low Carbon Energy ETF 10.5 61 -10 3.0 -1.6
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 9.6 79 -28 5.1 +0.5
RNRG Global X Renewable Energy Producers ETF 7.5 66 -15 4.9 +0.2
MVPS Amplify Thematic All-Stars ETF 7.2 49 2 1.7 -3.0
CCSO Carbon Collective Climate Solutions US Equity ETF 6.6 35 16 2.3 -2.4
NBCT Neuberger Berman Carbon Transition Infrastructure ETF 5.0 55 -4 3.6 -1.0
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 4.9 45 6 6.2 +1.6
BNE Blue Horizon BNE ETF 4.9 87 -36 5.0 +0.3
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 4.0 55 -4 8.4 +3.8
OCEN IQ Clean Oceans ETF 3.8 45 6 5.3 +0.6
GSFP Goldman Sachs Future Planet Equity ETF 3.6 75 -24 4.5 -0.1
TCHI iShares MSCI China Multisector Tech ETF 3.5 59 -8 3.0 -1.6
XSD SPDR S&P Semiconductor ETF 3.4 35 16 5.1 +0.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 3.3 58 -7 4.6 -0.1
RSPT Invesco S&P 500 Equal Weight Technology ETF 3.2 40 11 5.6 +0.9
SIMS SPDR S&P Kensho Intelligent Structures ETF 3.1 45 6 -3.3 -8.0
DTEC ALPS Disruptive Technologies ETF 3.0 50 1 3.3 -1.4
ITEQ BlueStar Israel Technology ETF BlueStar Israel Technology Fu 3.0 75 -24 1.6 -3.1
CLNR IQ Cleaner Transport ETF 2.8 45 6 8.3 +3.6
RAYC Rayliant Quantamental China Equity ETF 2.8 80 -29 8.7 +4.0
IPO Renaissance IPO ETF 2.8 60 -9 -3.2 -7.9
FXN First Trust Energy AlphaDEX Fund 2.7 62 -11 3.4 -1.3
QQJG Invesco ESG NASDAQ Next Gen 100 ETF 2.7 20 31 5.4 +0.8
SDG iShares MSCI Global Sustainable Development Goals ETF 2.4 49 2 5.8 +1.1
PSCT Invesco S&P SmallCap Information Technology ETF 2.4 29 22 6.5 +1.8
QQQJ Invesco NASDAQ Next Gen 100 ETF 2.4 15 36 4.7 +0.1
SPHB Invesco S&P 500 High Beta ETF 2.4 25 26 5.0 +0.3
JSML Janus Henderson Small Cap Growth Alpha ETF 2.3 30 21 9.3 +4.6
NBDS Neuberger Berman Disrupters ETF 2.3 55 -4 1.9 -2.7
XT iShares Exponential Technologies ETF 2.3 46 5 3.9 -0.8
NUMG Nuveen ESG Mid-Cap Growth ETF 2.3 31 20 3.7 -0.9
BECO BlackRock Future Climate and Sustainable Economy ETF 2.3 70 -19 13.7 +9.1
JCHI JPMorgan Active China ETF 2.2 65 -14 7.9 +3.3
TMFX Motley Fool Next Index ETF 2.1 50 1 3.4 -1.3
HAIL SPDR S&P Kensho Smart Mobility ETF 2.1 45 6 -2.0 -6.7
FTGS First Trust Growth Strength ETF 2.0 60 -9 6.5 +1.8
WBAT WisdomTree Battery Value Chain and Innovation Fund 2.0 45 6 4.9 +0.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 1.9 32 19 5.7 +1.0
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 1.8 65 -14 8.9 +4.2
ISRA VanEck Israel ETF 1.7 59 -8 8.9 +4.2
IYE iShares U.S. Energy ETF 1.7 40 11 6.5 +1.9
AIRR First Trust RBA American Industrial Renaissance ETF 1.7 70 -19 5.3 +0.6
SPGP Invesco S&P 500 GARP ETF 1.6 34 17 8.5 +3.8
TEMP JPMorgan Climate Change Solutions ETF 1.6 49 2 4.7 -0.0
NUMV Nuveen ESG Mid-Cap Value ETF 1.5 31 20 7.4 +2.7
PID Invesco International Dividend Achievers ETF 1.5 53 -2 6.7 +2.1
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 1.5 75 -24 7.8 +3.1
FCTR First Trust Lunt U.S. Factor Rotation ETF 1.5 65 -14 3.8 -0.8
CNYA iShares MSCI China A ETF 1.4 60 -9 8.7 +4.0
TRFM AAM Transformers ETF 1.4 49 2 1.3 -3.4
FAN First Trust Global Wind Energy ETF 1.3 60 -9 5.5 +0.8
MCH Matthews China Active ETF 1.3 79 -28 6.1 +1.4
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 1.3 65 -14 6.3 +1.6
GURU Global X Guru Index ETF 1.3 75 -24 2.5 -2.1
QQQN VictoryShares Nasdaq Next 50 ETF 1.2 18 33 4.5 -0.1
NETZ TCW Transform Systems ETF 1.2 75 -24 3.4 -1.3
PSCI Invesco S&P SmallCap Industrials ETF 1.2 29 22 6.0 +1.4
SSPX Janus Henderson U.S. Sustainable Equity ETF 1.1 55 -4 4.0 -0.7
QQQS Invesco NASDAQ Future Gen 200 ETF 1.1 20 31 -7.8 -12.5
PABU iShares Paris-Aligned Climate MSCI USA ETF 1.1 10 41 4.8 +0.2
HAP VanEck Natural Resources ETF 1.1 50 1 9.5 +4.8
NZUS SPDR MSCI USA Climate Paris Aligned ETF 1.0 10 41 4.9 +0.2
VOT Vanguard Mid-Cap Growth ETF 1.0 7 44 4.2 -0.5
AFTY Pacer CSOP FTSE China A50 ETF 1.0 70 -19 9.2 +4.6
KOMP SPDR S&P Kensho New Economies Composite ETF 0.9 20 31 2.1 -2.6
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.9 72 -21 2.2 -2.5
BIBL Inspire 100 ETF 0.9 35 16 4.8 +0.2
WLDR Affinity World Leaders Equity ETF 0.9 67 -16 8.5 +3.8
FDWM Fidelity Women's Leadership ETF 0.9 59 -8 4.8 +0.1
GTEK Goldman Sachs Future Tech Leaders Equity ETF 0.8 75 -24 3.2 -1.5
FPX First Trust US Equity Opportunities ETF 0.8 61 -10 0.6 -4.1
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 0.8 60 -9 5.0 +0.4
SLYV SPDR S&P 600 Small Cap Value ETF 0.8 15 36 9.4 +4.7
IJS iShares S&P Small-Cap 600 Value ETF 0.8 18 33 9.3 +4.7
NULG Nuveen ESG Large-Cap Growth ETF 0.8 26 25 4.4 -0.3
IWO iShares Russell 2000 Growth ETF 0.7 24 27 1.4 -3.2
NULV Nuveen ESG Large-Cap Value ETF 0.7 26 25 7.1 +2.5
CHGX AXS Change Finance ESG ETF 0.7 49 2 5.1 +0.4
EES WisdomTree U.S. SmallCap Fund 0.7 38 13 10.3 +5.6
IMCG iShares Morningstar Mid-Cap Growth ETF 0.7 6 45 4.3 -0.4
BATT Amplify Lithium & Battery Technology ETF 0.7 59 -8 2.9 -1.8
SQLV Royce Quant Small-Cap Quality Value ETF 0.7 60 -9 9.0 +4.4
NUSC Nuveen ESG Small-Cap ETF 0.6 31 20 5.2 +0.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 0.6 70 -19 1.8 -2.9
EQAL Invesco Russell 1000 Equal Weight ETF 0.6 20 31 6.0 +1.3
DFNV Donoghue Forlines Innovation ETF 0.6 69 -18 5.0 +0.4
BKSE BNY Mellon US Small Cap Core Equity ETF 0.6 4 47 5.7 +1.1
PGJ Invesco Golden Dragon China ETF 0.6 70 -19 4.9 +0.3
TTAC FCF US Quality ETF 0.6 59 -8 6.5 +1.9
RZV Invesco S&P Smallcap 600 Pure Value ETF 0.6 35 16 10.5 +5.8
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.6 9 42 4.0 -0.7
JHMM John Hancock Multifactor Mid Cap ETF 0.6 42 9 6.6 +1.9
ETHO Etho Climate Leadership U.S. ETF 0.6 47 4 4.1 -0.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.6 12 39 5.1 +0.4
BUZZ VanEck Social Sentiment ETF 0.5 75 -24 -0.7 -5.4
CNXT VanEck ChiNext ETF 0.5 65 -14 4.3 -0.4
SPSM SPDR Portfolio S&P 600 Small Cap ETF 0.5 3 48 8.2 +3.6
IJR iShares Core S&P Small Cap ETF 0.5 6 45 8.2 +3.5
SSPY Syntax Stratified LargeCap ETF 0.5 30 21 6.5 +1.8
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF 0.5 49 2 4.8 +0.1
MCHI iShares MSCI China ETF 0.5 59 -8 8.9 +4.3
VTWG Vanguard Russell 2000 Growth ETF 0.5 15 36 1.7 -2.9
FLCH Franklin FTSE China ETF 0.5 19 32 9.6 +4.9
VO Vanguard Mid-Cap ETF 0.5 4 47 5.8 +1.2
BLES Inspire Global Hope ETF 0.5 61 -10 6.3 +1.7
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.5 18 33 7.9 +3.2
OBOR KraneShares MSCI One Belt One Road Index ETF 0.5 79 -28 10.3 +5.7
IWP iShares Russell Mid-Cap Growth ETF 0.5 23 28 3.8 -0.8
IQSM IQ Candriam U.S. Mid Cap Equity ETF 0.4 15 36 6.3 +1.6
BFOR ALPS Barron's 400 ETF 0.4 65 -14 6.6 +1.9
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.4 39 12 4.5 -0.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.4 9 42 6.0 +1.3
GINN Goldman Sachs Innovate Equity ETF 0.4 52 -1 2.7 -2.0
FLDZ RiverNorth Patriot ETF 0.4 75 -24 5.8 +1.1
KSTR KraneShares SSE STAR Market 50 Index ETF 0.4 89 -38 2.7 -2.0
SHPP Pacer Industrials and Logistics ETF 0.4 60 -9 8.9 +4.2
BLLD JPMorgan Sustainable Infrastructure ETF 0.4 49 2 6.2 +1.5
KALL KraneShares MSCI All China Index ETF 0.4 49 2 9.4 +4.7
NULC Nuveen ESG Large-Cap ETF 0.4 21 30 5.5 +0.8
RSP Invesco S&P 500 Equal Weight ETF 0.4 20 31 6.2 +1.6
IWM iShares Russell 2000 ETF 0.4 19 32 3.6 -1.1
STXK Strive Small-Cap ETF 0.4 18 33 5.5 +0.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.4 32 19 6.3 +1.6
XLK Technology Select Sector SPDR Fund 0.4 9 42 5.2 +0.6
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 0.4 95 -44 1.7 -3.0
IQM Franklin Intelligent Machines ETF 0.4 50 1 3.1 -1.6
VBK Vanguard Small-Cap Growth ETF 0.4 7 44 1.5 -3.2
ESML iShares ESG Aware MSCI USA Small-Cap ETF 0.4 17 34 5.4 +0.8
EWY iShares MSCI South Korea ETF 0.3 58 -7 8.5 +3.8
VGT Vanguard Information Technology ETF 0.3 10 41 4.7 0.0
XJR iShares ESG Screened S&P Small-Cap ETF 0.3 12 39 7.8 +3.1
SIZE iShares MSCI USA Size Factor ETF 0.3 15 36 6.0 +1.3
IMCB iShares Morningstar Mid-Cap ETF 0.3 4 47 6.1 +1.5
ISCG iShares Morningstar Small-Cap Growth ETF 0.3 6 45 2.5 -2.2
AVES Avantis Emerging Markets Value ETF 0.3 36 15 12.1 +7.4
AVSC Avantis U.S Small Cap Equity ETF 0.3 25 26 5.4 +0.8
IWR iShares Russell Midcap ETF 0.3 19 32 5.7 +1.0
SMLF iShares U.S. SmallCap Equity Factor ETF 0.3 15 36 5.8 +1.1
SSLY Syntax Stratified SmallCap ETF 0.3 40 11 7.5 +2.8
IGM iShares Expanded Tech Sector ETF 0.3 41 10 4.5 -0.2
TPLE Timothy Plan Us Large/Mid Cap Core Enhanced ETF 0.3 58 -7 5.4 +0.7
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund 0.3 52 -1 5.4 +0.8
EUSA iShares MSCI USA Equal Weighted ETF 0.3 9 42 6.2 +1.5
FNX First Trust Mid Cap Core AlphaDEX Fund 0.3 60 -9 6.0 +1.4
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 0.3 7 44 5.8 +1.1
FTEC Fidelity MSCI Information Technology Index ETF 0.3 8 43 4.8 +0.1
IEUS iShares MSCI Europe Small-Cap ETF 0.3 42 9 0.0 -4.7
VFQY Vanguard U.S. Quality Factor ETF 0.3 13 38 7.2 +2.5
FIDU Fidelity MSCI Industrial Index ETF 0.3 8 43 4.7 +0.1
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.3 64 -13 2.1 -2.6
ISCB iShares Morningstar Small-Cap ETF 0.3 4 47 5.3 +0.7
FLKR Franklin FTSE South Korea ETF 0.3 9 42 9.4 +4.7
ECNS iShares MSCI China Small-Cap ETF 0.3 59 -8 14.2 +9.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 0.3 39 12 9.4 +4.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.3 38 13 8.2 +3.6
IWS iShares Russell Mid-Cap Value ETF 0.3 23 28 6.6 +1.9
JMEE JPMorgan Market Expansion Enhanced Equity ETF 0.3 24 27 7.8 +3.1
GXC SPDR S&P China ETF 0.3 59 -8 9.0 +4.4
VTWO Vanguard Russell 2000 ETF 0.3 10 41 3.9 -0.8
IXN iShares Global Tech ETF 0.2 41 10 4.3 -0.3
BKF iShares MSCI BIC ETF 0.2 69 -18 7.1 +2.4
ISCV iShares Morningstar Small Cap Value ETF 0.2 6 45 8.1 +3.5
TPSC Timothy Plan US Small Cap Core ETF 0.2 52 -1 7.6 +3.0
VLUE iShares MSCI USA Value Factor ETF 0.2 15 36 10.7 +6.0
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 0.2 30 21 7.6 +2.9
AVLV Avantis U.S. Large Cap Value ETF 0.2 15 36 7.5 +2.8
XPND First Trust Expanded Technology ETF 0.2 65 -14 3.9 -0.8
EMXF iShares ESG Advanced MSCI EM ETF 0.2 16 35 7.4 +2.8
IJT iShares S&P Small-Cap 600 Growth ETF 0.2 18 33 7.0 +2.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 7 44 6.5 +1.8
SLYG SPDR S&P 600 Small Cap Growth ETF 0.2 15 36 7.1 +2.4
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.2 33 18 7.2 +2.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.2 41 10 7.8 +3.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 -14 7.7 +3.0
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.2 15 36 7.1 +2.4
SFY SoFi Select 500 ETF 0.2 0 51 5.2 +0.5
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.2 4 47 6.1 +1.5
JMOM JPMorgan U.S. Momentum Factor ETF 0.2 12 39 4.8 +0.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.2 70 -19 6.3 +1.6
FTC First Trust Large Cap Growth AlphaDEX Fund 0.2 59 -8 2.8 -1.9
ESGE iShares ESG Aware MSCI EM ETF 0.2 25 26 7.7 +3.0
ESGU iShares ESG Aware MSCI USA ETF 0.2 15 36 5.2 +0.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 0.2 15 36 7.6 +2.9
AFSM First Trust Active Factor Small Cap ETF 0.2 75 -24 7.6 +3.0
ONEQ Fidelity Nasdaq Composite Index ETF 0.2 21 30 3.9 -0.8
DFIS Dimensional International Small Cap ETF 0.2 39 12 6.7 +2.0
FNDA Schwab Fundamental US Small Co. Index ETF 0.2 25 26 6.8 +2.2
USXF iShares ESG Advanced MSCI USA ETF 0.2 10 41 5.2 +0.5
DFEV Dimensional Emerging Markets Value ETF 0.2 43 8 10.9 +6.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.2 80 -29 11.0 +6.4
IDU iShares U.S. Utilities ETF 0.2 40 11 5.5 +0.9
SCHA Schwab U.S. Small-Cap ETF 0.2 4 47 4.9 +0.2
JHSC John Hancock Multifactor Small Cap ETF 0.2 42 9 6.2 +1.5
FLAX Franklin FTSE Asia Ex Japan ETF 0.2 19 32 7.2 +2.5
DFAS Dimensional U.S. Small Cap ETF 0.2 26 25 6.0 +1.3
VEGN US Vegan Climate ETF 0.2 60 -9 4.7 0.0
EEMA iShares MSCI Emerging Markets Asia ETF 0.2 49 2 6.7 +2.0
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.2 15 36 4.9 +0.2
SCZ iShares MSCI EAFE Small-Cap ETF 0.2 40 11 0.0 -4.7
CSF VictoryShares US Discovery Enhanced Volatility Wtd ETF 0.2 42 9 7.5 +2.9
CSA VictoryShares US Small Cap Volatility Wtd ETF 0.2 35 16 7.6 +2.9
LCTU BlackRock U.S. Carbon Transition Readiness ETF 0.2 14 37 5.4 +0.7
SMDY Syntax Stratified MidCap ETF 0.2 35 16 6.3 +1.6
ITAN Sparkline Intangible Value ETF 0.2 50 1 6.2 +1.5
DFAE Dimensional Emerging Core Equity Market ETF 0.2 35 16 7.7 +3.0
SPHQ Invesco S&P 500 Quality ETF 0.2 15 36 5.4 +0.8
PXH Invesco FTSE RAFI Emerging Markets ETF 0.2 49 2 12.4 +7.7
VOOG Vanguard S&P 500 Growth ETF 0.2 10 41 5.5 +0.8
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF 0.2 10 41 5.4 +0.7
SCHG Schwab U.S. Large-Cap Growth ETF 0.2 4 47 4.3 -0.4
SCHC Schwab International Small-Cap Equity ETF 0.2 11 40 6.4 +1.8
VB Vanguard Small-Cap ETF 0.2 5 46 5.4 +0.7
DEHP Dimensional Emerging Markets High Profitability ETF 0.2 41 10 7.3 +2.6
CFA VictoryShares US 500 Volatility Wtd ETF 0.2 35 16 6.0 +1.3
CFO VictoryShares US 500 Enhanced Volatility Wtd ETF 0.2 40 11 5.9 +1.3
VWO Vanguard FTSE Emerging Markets ETF 0.2 8 43 7.6 +2.9
EEM iShares MSCI Emerging Markets ETF 0.2 69 -18 7.0 +2.3
JHML John Hancock Multifactor Large Cap ETF 0.1 29 22 5.6 +1.0
AVUS Avantis U.S. Equity ETF 0.1 15 36 6.0 +1.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.1 45 6 8.6 +3.9
IVE iShares S&P 500 Value ETF 0.1 18 33 6.6 +1.9
SPYV SPDR Portfolio S&P 500 Value ETF 0.1 4 47 6.7 +2.1
ILCG iShares Morningstar Growth ETF 0.1 4 47 4.1 -0.6
SUSA iShares MSCI USA ESG Select ETF 0.1 25 26 5.4 +0.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.1 36 15 7.5 +2.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.1 66 -15 7.2 +2.5
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 42 7.5 +2.9
IUSV iShares Core S&P US Value ETF 0.1 4 47 6.8 +2.2
VUG Vanguard Growth ETF 0.1 4 47 4.3 -0.4
GMF SPDR S&P Emerging Asia Pacific ETF 0.1 49 2 6.4 +1.7
AVDV Avantis International Small Cap Value ETF 0.1 36 15 8.0 +3.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 0.1 45 6 4.7 +0.0
ISMD Inspire Small/Mid Cap ETF 0.1 54 -3 6.1 +1.4
STXG Strive 1000 Growth ETF 0.1 18 33 4.2 -0.5
TTAI FCF International Quality ETF 0.1 59 -8 7.4 +2.7
AFMC First Trust Active Factor Mid Cap ETF 0.1 65 -14 7.5 +2.8
DFAC Dimensional U.S. Core Equity 2 ETF 0.1 17 34 5.7 +1.0
JHEM John Hancock Multifactor Emerging Markets ETF 0.1 49 2 8.3 +3.7
VXF Vanguard Extended Market ETF 0.1 6 45 3.9 -0.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.1 59 -8 9.6 +4.9
CN Xtrackers MSCI All China Equity ETF 0.1 50 1 8.7 +4.0
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.1 25 26 5.7 +1.0
DFUV Dimensional US Marketwide Value ETF 0.1 22 29 7.6 +3.0
ISCF iShares International SmallCap Equity Factor ETF 0.1 23 28 8.8 +4.1
FUTY Fidelity MSCI Utilities Index ETF 0.1 8 43 6.3 +1.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 21 7.8 +3.1
VIS Vanguard Industrials ETF 0.1 10 41 4.5 -0.2
BKEM BNY Mellon Emerging Markets Equity ETF 0.1 11 40 7.7 +3.0
EVUS iShares ESG Aware MSCI USA Value ETF 0.1 18 33 6.7 +2.0
EGUS iShares ESG Aware MSCI USA Growth ETF 0.1 18 33 4.3 -0.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 42 5.7 +1.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 26 7.0 +2.4
LDEM iShares ESG MSCI EM Leaders ETF 0.1 17 34 7.8 +3.1
AVEM Avantis Emerging Markets Equity ETF 0.1 33 18 9.1 +4.4
TMFE Motley Fool Capital Efficiency 100 Index ETF 0.1 50 1 4.7 +0.1
ESGV Vanguard ESG U.S. Stock ETF 0.1 9 42 5.1 +0.4
USCA Xtrackers MSCI USA Climate Action Equity ETF 0.1 7 44 5.2 +0.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 31 6.7 +2.1
ROUS Hartford Multifactor US Equity ETF 0.1 19 32 6.4 +1.8
VONV Vanguard Russell 1000 Value ETF 0.1 8 43 6.7 +2.0
IWD iShares Russell 1000 Value ETF 0.1 19 32 6.6 +1.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.1 20 31 7.5 +2.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.1 30 21 7.5 +2.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.1 3 48 5.1 +0.5
IYY iShares Dow Jones U.S. ETF 0.1 20 31 5.1 +0.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 31 5.6 +0.9
SPXN ProShares S&P 500 Ex-Financials ETF 0.1 9 42 5.3 +0.6
HLAL Wahed FTSE USA Shariah ETF 0.1 50 1 5.0 +0.3
IWV iShares Russell 3000 ETF 0.1 20 31 5.0 +0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 0.1 9 42 5.2 +0.5
IVOO Vanguard S&P Mid-Cap 400 ETF 0.1 10 41 6.9 +2.3
SCHB Schwab U.S. Broad Market ETF 0.1 3 48 5.2 +0.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.1 70 -19 7.2 +2.6
XVV iShares ESG Screened S&P 500 ETF 0.1 8 43 5.1 +0.4
VOO Vanguard S&P 500 ETF 0.1 3 48 5.3 +0.7
GLIF AGF Global Infrastructure ETF 0.1 45 6 5.5 +0.8
VTHR Vanguard Russell 3000 ETF 0.1 10 41 5.1 +0.4
DFJ WisdomTree Japan SmallCap Dividend Fund 0.1 58 -7 7.5 +2.9
DFAT Dimensional U.S. Targeted Value ETF 0.1 28 23 8.2 +3.6
SPXE ProShares S&P 500 Ex-Energy ETF 0.1 9 42 5.3 +0.6
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 0.1 3 48 5.4 +0.8
SFYX SoFi Next 500 ETF 0.1 0 51 5.6 +0.9
VTI Vanguard Total Stock Market ETF 0.1 3 48 5.1 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.1 20 31 5.1 +0.4
DFUS Dimensional U.S. Equity ETF 0.1 9 42 5.1 +0.5
SCHX Schwab U.S. Large-Cap ETF 0.1 3 48 5.3 +0.6
SPLG SPDR Portfolio S&P 500 ETF 0.1 2 49 5.3 +0.6
QGRW WisdomTree U.S. Quality Growth Fund 0.1 28 23 4.7 -0.0
SCHM Schwab U.S. Mid-Cap ETF 0.1 4 47 6.3 +1.7
SPY SPDR S&P 500 ETF Trust 0.1 9 42 5.2 +0.6
IVV iShares Core S&P 500 ETF 0.1 3 48 5.3 +0.6
EPS WisdomTree U.S. LargeCap Fund 0.1 8 43 6.3 +1.6
SCHK Schwab 1000 Index ETF 0.1 5 46 5.3 +0.6
SCHE Schwab Emerging Markets Equity ETF 0.1 11 40 7.6 +2.9
SPEM SPDR Portfolio Emerging Markets ETF 0.1 7 44 7.5 +2.8
VT Vanguard Total World Stock ETF 0.1 7 44 5.8 +1.2
DFAU Dimensional US Core Equity Market ETF 0.1 12 39 5.4 +0.7
CATH Global X S&P 500 Catholic Values Custom ETF 0.1 29 22 5.1 +0.5
IWB iShares Russell 1000 ETF 0.1 15 36 5.1 +0.5
VONE Vanguard Russell 1000 ETF 0.1 8 43 5.2 +0.6
BKLC BNY Mellon US Large Cap Core Equity ETF 0.1 0 51 5.3 +0.6
DSI iShares MSCI KLD 400 Social ETF 0.1 25 26 5.1 +0.5
VOTE TCW Transform 500 ETF 0.1 5 46 5.2 +0.5
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.1 11 40 5.2 +0.6
VV Vanguard Large-Cap ETF 0.1 4 47 5.2 +0.6
PBUS Invesco MSCI USA ETF 0.1 4 47 5.3 +0.6
DFSU Dimensional US Sustainability Core 1 ETF 0.1 18 33 5.7 +1.0
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 0.1 58 -7 7.3 +2.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.1 2 49 5.3 +0.6
ILCB iShares Morningstar U.S. Equity ETF 0.1 3 48 5.3 +0.6
STRV Strive 500 ETF 0.1 5 46 5.2 +0.5
DFSI Dimensional International Sustainability Core 1 ETF 0.1 24 27 6.2 +1.6
SCJ iShares MSCI Japan Small-Cap ETF 0.1 50 1 6.4 +1.7
VSGX Vanguard ESG International Stock ETF 0.1 12 39 6.8 +2.2
RVRB Reverb ETF 0.1 30 21 5.0 +0.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.1 58 -7 10.1 +5.5
ACWI iShares MSCI ACWI ETF 0.1 32 19 5.5 +0.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.1 29 22 7.4 +2.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 2 6.7 +2.0
IWC iShares Micro-Cap ETF 0.1 60 -9 -4.3 -9.0
IQSU IQ Candriam U.S. Large Cap Equity ETF 0.1 9 42 5.0 +0.4
DFLV Dimensional US Large Cap Value ETF 0.1 22 29 7.8 +3.1
GWX SPDR S&P International Small Cap ETF 0.1 40 11 6.6 +1.9
XSHQ Invesco S&P SmallCap Quality ETF 0.1 29 22 10.1 +5.4
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 44 6.9 +2.2
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 19 6.2 +1.5
VPU Vanguard Utilities ETF 0.1 10 41 6.2 +1.6
VONG Vanguard Russell 1000 Growth ETF 0.1 8 43 4.8 +0.2
IWF iShares Russell 1000 Growth ETF 0.1 19 32 4.7 +0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 0.1 9 42 5.8 +1.2
VXUS Vanguard Total International Stock ETF 0.1 7 44 7.1 +2.5
DFIC Dimensional International Core Equity 2 ETF 0.1 23 28 7.4 +2.8
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.1 45 6 6.2 +1.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 42 5.5 +0.8
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 17 6.7 +2.0
URTH iShares MSCI World ETF 0.1 24 27 5.4 +0.7
TOK iShares MSCI Kokusai ETF 0.1 26 25 5.3 +0.6
PRF Invesco FTSE RAFI US 1000 ETF 0.1 39 12 7.3 +2.6
RECS Columbia Research Enhanced Core ETF 0.1 15 36 5.6 +0.9
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -38 4.8 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 0.0 20 31 5.1 +0.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.0 30 21 8.5 +3.9
AVIV Avantis International Large Cap Value ETF 0.0 25 26 8.9 +4.2
QVML Invesco S&P 500 QVM Multi-factor ETF 0.0 11 40 5.2 +0.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 10 6.7 +2.0
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.0 32 19 5.2 +0.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 8 43 7.2 +2.5
IEUR iShares Core MSCI Europe ETF 0.0 11 40 -1.3 -6.0
DFSV Dimensional US Small Cap Value ETF 0.0 31 20 8.9 +4.2
AVDE Avantis International Equity ETF 0.0 23 28 7.9 +3.2
EMXC iShares MSCI Emerging Markets ex China ETF 0.0 25 26 6.7 +2.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 48 6.9 +2.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.0 7 44 5.2 +0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 12 7.3 +2.7
DUHP Dimensional US High Profitability ETF 0.0 21 30 7.0 +2.3
LRGF iShares U.S. Equity Factor ETF 0.0 8 43 5.8 +1.2
SMMD iShares Russell 2500 ETF 0.0 15 36 6.0 +1.3
NANC Unusual Whales Subversive Democratic Trading ETF 0.0 75 -24 3.8 -0.9
IWN iShares Russell 2000 Value ETF 0.0 24 27 5.6 +0.9
IETC iShares U.S. Tech Independence Focused ETF 0.0 18 33 4.4 -0.2
IMFL Invesco International Developed Dynamic Multifactor ETF 0.0 34 17 10.6 +6.0
RAFE PIMCO RAFI ESG U.S. ETF 0.0 29 22 7.2 +2.5
GLOF iShares Global Equity Factor ETF 0.0 20 31 7.1 +2.4
VTWV Vanguard Russell 2000 Value ETF 0.0 15 36 5.8 +1.1
HDUS Hartford Disciplined US Equity ETF 0.0 19 32 6.2 +1.5
VPL Vanguard FTSE Pacific ETF 0.0 8 43 7.0 +2.3
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 26 7.1 +2.4
RWL Invesco S&P 500 Revenue ETF 0.0 39 12 6.6 +2.0
SPEU SPDR Portfolio Europe ETF 0.0 7 44 6.6 +1.9
VLU SPDR S&P 1500 Value Tilt ETF 0.0 12 39 7.1 +2.5
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 21 6.8 +2.1
DISV Dimensional International Small Cap Value ETF 0.0 42 9 9.2 +4.6
DLS WisdomTree International SmallCap Dividend Fund 0.0 58 -7 8.8 +4.1
DFAI Dimensional International Core Equity Market ETF 0.0 18 33 6.9 +2.2
VEA Vanguard FTSE Developed Markets ETF 0.0 5 46 7.0 +2.3
VGK Vanguard FTSE Europe ETF 0.0 11 40 6.8 +2.2
TXS Texas Capital Texas Equity Index ETF 0.0 49 2 5.6 +0.9
APUE ActivePassive U.S. Equity ETF 0.0 45 6 5.0 +0.3
IEFA iShares Core MSCI EAFE ETF 0.0 7 44 2.7 -2.0
JGRO JPMorgan Active Growth ETF 0.0 44 7 3.4 -1.3
SPYG SPDR Portfolio S&P 500 Growth ETF 0.0 4 47 4.6 -0.1
IVW iShares S&P 500 Growth ETF 0.0 18 33 4.5 -0.2
IUSG iShares Core S&P U.S. Growth ETF 0.0 4 47 4.6 -0.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 6 8.5 +3.8
VIOG Vanguard S&P Small-Cap 600 Growth ETF 0.0 15 36 7.0 +2.3
GSPY Gotham Enhanced 500 ETF 0.0 50 1 5.3 +0.6
FNDX Schwab Fundamental US Large Co. Index ETF 0.0 25 26 7.1 +2.4
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF 0.0 15 36 8.2 +3.6
NUEM Nuveen ESG Emerging Markets Equity ETF 0.0 36 15 6.8 +2.1
HFXI IQ FTSE International Equity Currency Neutral ETF 0.0 20 31 6.8 +2.1
IDEV iShares Core MSCI International Developed Markets ETF 0.0 4 47 6.7 +2.0
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 26 9.1 +4.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.0 29 22 6.3 +1.6
VIOO Vanguard S&P Small-Cap 600 ETF 0.0 10 41 7.8 +3.1
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 12 6.9 +2.2
VSLU Applied Finance Valuation Large Cap ETF 0.0 49 2 6.0 +1.4
JPXN iShares JPX-Nikkei 400 ETF 0.0 48 3 7.5 +2.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.0 12 39 4.5 -0.2
VIOV Vanguard S&P Small-Cap 600 Value ETF 0.0 15 36 8.7 +4.0
QUS SPDR MSCI USA StrategicFactors ETF 0.0 15 36 6.1 +1.4
ONEO SPDR Russell 1000 Momentum Focus ETF 0.0 20 31 7.1 +2.5
SCHF Schwab International Equity ETF 0.0 6 45 7.0 +2.3
STXV Strive 1000 Value ETF 0.0 18 33 7.8 +3.1
VYM Vanguard High Dividend Yield Index ETF 0.0 6 45 7.3 +2.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 12 7.6 +3.0
IPAC iShares Core MSCI Pacific ETF 0.0 9 42 6.7 +2.0
DEUS Xtrackers Russell US Multifactor ETF 0.0 17 34 7.1 +2.4
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 21 6.1 +1.4

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

  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:		 Global X Solar 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 8.1 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 51 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.43 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.