ETF Research Center

Schwab International Dividend Equity ETF

ALTAR
Score™

8.5%

Recommen-
dation

SPECULATIVE

2025E 2026E
P/E ratio	14.2x	P/Sales ratio	1.4x
P/BV ratio	2.2x	Div. yield	4.2%

Description
Performance
Comps
Fundamentals
Valuation
Rating

SCHY tracks a modified market-cap-weighted index of 100 high-dividend-yielding stocks located outside of the US. Stocks are selected based on additional fundamental criteria and low volatility.

FUND BASICS
Category	International Equities
Fund Sponsor	Charles Schwab
Website	www.schwabassetmanagement.com/products/schy
Inception date	Apr 29, 2021
Assets (mns)	$2,218
Currency	USD
Expense ratio	14 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	138
Wgt avg mkt cap (mns)	$79,605
Large cap (>$10bn)	89.1%
Mid cap ($2-10bn)	10.6%
Small cap (<$2bn)	0.3%
Developed mkts	83.4%
Emerging mkts	16.6%

TOP TEN HOLDINGS
Total	41.6 %
WESFARMERS LIMITED	4.7 %
UNILEVER PLC	4.7 %
GSK PLC	4.4 %
ENEL SPA	4.4 %
BRITISH AMERICAN TOBACCO PLC	4.2 %
ROCHE PS PAR AG	4.2 %
VINCI SA	4.0 %
BHP BILLITON LTD	3.7 %
ENI SPA	3.7 %
TOTAL SA	3.6 %

TOP COUNTRY EXPOSURE
	BRITAIN	14.8 %
	FRANCE	14.0 %
	AUSTRALIA	10.7 %
	ITALY	8.8 %
	NETHERLANDS	5.2 %
	GERMANY	4.8 %
	SINGAPORE	4.7 %
	INDIA	4.4 %
	CANADA	3.3 %
	SPAIN	3.1 %

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.
9.1%	24.0%	8.4%	--	8.9%

Market Correlations
versus...	Beta	R-squared
S&P500	0.55	29%
MSCI EAFE	0.69	74%
MSCI Emg. Mkts.	0.38	41%

Technical Indicators
Recent close	$32.08
30d moving avg.	$31.87
Annualized volatility	13.3%
Short interest (ETF)	0.9%
Relative strength (RSI)	52

Liquidity measures
Avg. volume (thou.)	595
Turnover	0.9%
Bid/Ask (% of price)	0.03%
ADV underlying (mns)	$3,746

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 447 potential alternatives to the Schwab International Dividend Equity ETF ETF based on the alternatives' overlap in portfolio holdings with SCHY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

SCHY

Expense:

14 bp

ALTAR Score™:

8.5%

ALTERNATIVE ETFs BASED ON OVERLAP WITH SCHY
Ticker	Fund Name	Overlap¹ vs SCHY (%)	Expense ratio (bp)	Savings vs SCHY (bp)	ALTAR Score™ (%)	ALTAR vs SCHY (%)
HDEF	Xtrackers MSCI EAFE High Dividend Yield Equity ETF	25.6	9	5	7.7	-0.8
INEQ	Columbia International Equity Income ETF	23.3	45	-31	7.9	-0.6
GCOW	Pacer Global Cash Cows Dividend ETF	20.8	60	-46	9.6	+1.2
FIDI	Fidelity International High Dividend ETF	20.2	18	-4	7.3	-1.2
DIVI	Franklin International Core Dividend Tilt Index ETF	19.0	9	5	6.5	-1.9
IDV	iShares International Select Dividend ETF	18.1	51	-37	9.5	+1.0
AIVI	WisdomTree International AI Enhanced Value Fund	17.8	58	-44	6.2	-2.2
LVHI	Franklin International Low Volatility High Dividend Index ET	17.7	40	-26	7.5	-1.0
DTH	WisdomTree International High Dividend Fund	17.2	58	-44	7.4	-1.1
IDHQ	Invesco S&P International Developed High Quality ETF	15.6	29	-15	5.0	-3.5
IVSI	Applied Finance IVS International Large ETF	15.4	65	-51	5.8	-2.6
IQLT	iShares MSCI Intl Quality Factor ETF	15.0	30	-16	5.4	-3.1
FEZ	SPDR EURO STOXX 50 ETF	14.7	29	-15	5.7	-2.8
IDOG	ALPS International Sector Dividend Dogs ETF	14.5	50	-36	9.5	+1.0
EFAV	iShares MSCI EAFE Min Vol Factor ETF	14.1	22	-8	5.8	-2.7
RFDI	First Trust Riverfront Dynamic Developed International ETF	13.6	83	-69	7.6	-0.9
FICS	First Trust International Developed Capital Strength ETF	13.5	70	-56	6.5	-1.9
HDMV	First Trust Horizon Managed Volatility Developed Intl ETF	13.2	80	-66	5.4	-3.1
IDLV	Invesco S&P International Developed Low Volatility ETF	13.1	25	-11	6.3	-2.2
DOL	WisdomTree International LargeCap Dividend Fund	13.0	48	-34	5.6	-2.9
VYMI	Vanguard International High Dividend Yield ETF	12.6	17	-3	7.9	-0.5
DBEZ	Xtrackers MSCI Eurozone Hedged Equity ETF	12.4	45	-31	5.4	-3.1
IGRO	iShares International Dividend Growth ETF	12.2	15	-1	6.6	-1.8
IQDF	FlexShares International Quality Dividend Index Fund	12.1	47	-33	7.4	-1.0
EZU	iShares MSCI Eurozone ETF	12.1	52	-38	5.6	-2.9
EFV	iShares MSCI EAFE Value ETF	12.1	34	-20	7.5	-1.0
HEZU	iShares Currency Hedged MSCI Eurozone ETF	12.1	53	-39	5.4	-3.1
DWX	SPDR S&P International Dividend ETF	12.0	45	-31	6.7	-1.7
BBAX	JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF	11.9	19	-5	5.4	-3.1
QEFA	SPDR MSCI EAFE StrategicFactors ETF	11.9	30	-16	6.1	-2.4
IDMO	Invesco S&P International Developed Momentum ETF	11.8	25	-11	5.1	-3.3
EPP	iShares MSCI Pacific ex-Japan ETF	11.8	47	-33	5.0	-3.5
DWMF	WisdomTree International Multifactor Fund	11.4	38	-24	6.8	-1.7
IMFL	Invesco International Developed Dynamic Multifactor ETF	11.3	34	-20	5.1	-3.3
EUSC	WisdomTree Europe Hedged SmallCap Equity Fund	11.2	58	-44	9.1	+0.6
EWQ	iShares MSCI France ETF	11.2	53	-39	6.6	-1.9
TTAI	FCF International Quality ETF	11.0	59	-45	6.9	-1.6
EWA	iShares MSCI Australia ETF	10.8	50	-36	5.4	-3.1
IQDY	FlexShares International Quality Dividend Dynamic Index Fund	10.2	47	-33	7.1	-1.4
FIVA	Fidelity International Value Factor ETF	10.2	18	-4	7.1	-1.3
DWM	WisdomTree International Equity Fund	10.2	48	-34	5.6	-2.9
DDWM	WisdomTree Dynamic Currency Hedged International Equity Fund	10.2	40	-26	5.6	-2.8
BBEU	JPMorgan BetaBuilders Europe ETF	10.1	9	5	6.2	-2.3
FLAU	Franklin FTSE Australia ETF	10.0	9	5	5.9	-2.6
EWI	iShares MSCI Italy ETF	9.9	50	-36	10.6	+2.1
JIRE	JPMorgan International Research Enhanced Equity ETF	9.9	24	-10	5.7	-2.8
DBEU	Xtrackers MSCI Europe Hedged Equity ETF	9.7	46	-32	5.3	-3.1
STXI	Strive International Developed Markets ETF	9.7	29	-15	6.3	-2.2
PPIE	Putnam PanAgora ESG International Equity ETF	9.6	49	-35	6.3	-2.2
IVLU	iShares MSCI Intl Value Factor ETF	9.6	30	-16	8.0	-0.5
JHID	John Hancock International High Dividend ETF	9.6	46	-32	7.9	-0.5
GSEU	Goldman Sachs ActiveBeta Europe Equity ETF	9.6	25	-11	6.3	-2.2
DIHP	Dimensional International High Profitability ETF	9.6	29	-15	5.7	-2.7
EFAS	Global X MSCI SuperDividend EAFE ETF	9.5	57	-43	7.4	-1.1
CEFA	Global X S&P Catholic Values Developed ex-US ETF	9.5	35	-21	5.6	-2.9
CGDG	Capital Group Dividend Growers ETF	9.4	47	-33	5.1	-3.3
QLVD	FlexShares Developed Markets ex-US Quality Low Volatility In	9.4	32	-18	5.4	-3.1
FLEE	Franklin FTSE Europe ETF	9.3	9	5	6.3	-2.2
JHMD	John Hancock Multifactor Developed International ETF	9.2	39	-25	6.2	-2.3
FNDF	Schwab Fundamental International Large Co. Index ETF	9.1	25	-11	7.4	-1.1
IEV	iShares Europe ETF	9.1	67	-53	5.8	-2.6
FDEV	Fidelity International Multifactor ETF	9.1	18	-4	7.3	-1.2
IMTM	iShares MSCI Intl Momentum Factor ETF	9.1	30	-16	4.6	-3.8
GUNR	FlexShares Morningstar Global Upstream Natural Resources Ind	9.1	46	-32	8.2	-0.3
RODM	Hartford Multifactor Developed Markets (ex-US) ETF	9.0	29	-15	7.0	-1.5
DEW	WisdomTree Global High Dividend Fund	8.9	58	-44	7.1	-1.3
FENI	Fidelity Enhanced International ETF	8.9	28	-14	5.7	-2.8
GNR	SPDR S&P Global Natural Resources ETF	8.9	40	-26	9.0	+0.5
DBEF	Xtrackers MSCI EAFE Hedged Equity ETF	8.8	36	-22	5.1	-3.3
PXF	Invesco FTSE RAFI Developed Markets ex-U.S. ETF	8.8	45	-31	6.7	-1.7
GSID	Goldman Sachs MarketBeta International Equity ETF	8.6	20	-6	5.8	-2.7
HFXI	IQ FTSE International Equity Currency Neutral ETF	8.5	20	-6	5.5	-3.0
CIL	VictoryShares International Volatility Wtd ETF	8.4	45	-31	5.9	-2.6
ESGD	iShares ESG Aware MSCI EAFE ETF	8.3	20	-6	5.7	-2.8
EFA	iShares MSCI EAFE ETF	8.3	35	-21	5.7	-2.8
HEFA	iShares Currency Hedged MSCI EAFE ETF	8.2	35	-21	5.6	-2.8
EWU	iShares MSCI United Kingdom ETF	8.2	50	-36	7.3	-1.2
SPEU	SPDR Portfolio Europe ETF	8.1	7	7	6.5	-2.0
CGIE	Capital Group International Equity ETF	8.1	54	-40	4.5	-3.9
VGK	Vanguard FTSE Europe ETF	8.1	6	8	6.5	-1.9
FRGN	Horizon International Equity ETF	8.0	75	-61	7.7	-0.8
IEUR	iShares Core MSCI Europe ETF	7.9	11	3	6.4	-2.1
ICOW	Pacer Developed Markets International Cash Cows 100 ETF	7.9	65	-51	8.1	-0.3
GSIE	Goldman Sachs ActiveBeta International Equity ETF	7.9	25	-11	6.1	-2.4
EUFN	iShares MSCI Europe Financials ETF	7.9	51	-37	6.7	-1.8
FLGB	Franklin FTSE United Kingdom ETF	7.7	9	5	6.8	-1.7
EVLU	iShares MSCI Emerging Markets Value Factor ETF	7.6	35	-21	10.0	+1.6
BKIE	BNY Mellon International Equity ETF	7.6	4	10	5.9	-2.6
INTF	iShares International Equity Factor ETF	7.5	15	-1	6.5	-2.0
JPIN	J.P. Morgan Diversified Return International Equity ETF	7.5	37	-23	7.1	-1.3
IQDG	WisdomTree International Quality Dividend Growth Fund	7.3	42	-28	5.7	-2.8
IHDG	WisdomTree International Hedged Quality Dividend Growth Fund	7.2	58	-44	5.2	-3.2
DBAW	Xtrackers MSCI All World ex US Hedged Equity ETF	7.2	41	-27	5.8	-2.7
SCHF	Schwab International Equity ETF	7.2	6	8	5.8	-2.6
JPEM	JPMorgan Diversified Return Emerging Markets Equity ETF	7.2	44	-30	9.5	+1.1
IEFA	iShares Core MSCI EAFE ETF	7.1	7	7	6.0	-2.5
DVYA	iShares Asia/Pacific Dividend ETF	7.1	49	-35	7.1	-1.4
DFIV	Dimensional International Value ETF	7.1	27	-13	7.8	-0.7
EASG	Xtrackers MSCI EAFE ESG Leaders Equity ETF	6.9	14	0	5.2	-3.3
AVIV	Avantis International Large Cap Value ETF	6.9	25	-11	6.9	-1.5
TPIF	Timothy Plan International ETF	6.9	62	-48	5.5	-2.9
NUDM	Nuveen ESG International Developed Markets Equity ETF	6.9	31	-17	5.3	-3.1
BKCI	BNY Mellon Concentrated International ETF	6.9	80	-66	4.8	-3.7
EFAX	SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	6.8	20	-6	5.5	-3.0
FGD	First Trust Dow Jones Global Select Dividend Index Fund	6.8	56	-42	9.9	+1.4
EELV	Invesco S&P Emerging Markets Low Volatility ETF	6.8	29	-15	8.8	+0.4
CWI	SPDR MSCI ACWI ex-US ETF	6.7	30	-16	6.3	-2.1
DFAI	Dimensional International Core Equity Market ETF	6.7	18	-4	6.0	-2.5
IDEV	iShares Core MSCI International Developed Markets ETF	6.7	4	10	6.0	-2.5
IXC	iShares Global Energy ETF	6.5	44	-30	7.9	-0.6
KXI	iShares Global Consumer Staples ETF	6.5	41	-27	5.3	-3.1
IQSI	IQ Candriam International Equity ETF	6.5	15	-1	5.5	-3.0
GXUS	Goldman Sachs MarketBeta Total International Equity ETF	6.3	18	-4	6.3	-2.2
DAX	Global X DAX Germany ETF	6.3	21	-7	6.3	-2.2
FLGR	Franklin FTSE Germany ETF	6.3	9	5	6.8	-1.7
PABD	iShares Paris-Aligned Climate MSCI World ex USA ETF	6.3	12	2	5.2	-3.2
LCTD	BlackRock World ex U.S. Carbon Transition Readiness ETF	6.2	20	-6	5.6	-2.8
VEA	Vanguard FTSE Developed Markets ETF	6.2	3	11	5.9	-2.6
MFDX	PIMCO RAFI Dynamic Multi-Factor International Equity ETF	6.2	39	-25	6.2	-2.3
ACWX	iShares MSCI ACWI ex U.S. ETF	6.2	34	-20	6.3	-2.2
IPAC	iShares Core MSCI Pacific ETF	6.1	9	5	5.4	-3.1
FEUZ	First Trust Eurozone AlphaDEX ETF	6.1	80	-66	6.6	-1.9
SPDW	SPDR Portfolio Developed World ex-US ETF	6.1	3	11	5.8	-2.7
DEEF	Xtrackers FTSE Developed ex US Multifactor ETF	6.0	24	-10	6.9	-1.5
EWG	iShares MSCI Germany ETF	6.0	50	-36	6.1	-2.4
FID	First Trust S&P International Dividend Aristocrats ETF	5.9	60	-46	7.8	-0.6
EEMV	iShares MSCI Emerging Markets Min Vol Factor ETF	5.8	25	-11	5.9	-2.5
EDIV	SPDR S&P Emerging Markets Dividend ETF	5.8	49	-35	8.8	+0.3
VEU	Vanguard FTSE All-World ex-US Index Fund	5.8	4	10	6.6	-1.9
DEM	WisdomTree Emerging Markets High Dividend Fund	5.8	63	-49	10.2	+1.7
AVSD	Avantis Responsible International Equity ETF	5.7	23	-9	5.9	-2.6
DFIC	Dimensional International Core Equity 2 ETF	5.7	23	-9	6.2	-2.2
RNWZ	TrueShares Eagle Global Renewable Energy Income ETF	5.7	75	-61	6.2	-2.3
EUDG	WisdomTree Europe Quality Dividend Growth Fund	5.6	58	-44	6.3	-2.1
EUDV	ProShares MSCI Europe Dividend Growers ETF	5.6	55	-41	5.8	-2.7
DMXF	iShares ESG Advanced MSCI EAFE ETF	5.6	12	2	4.8	-3.7
ASEA	Global X FTSE Southeast Asia ETF	5.5	65	-51	5.2	-3.2
IXG	iShares Global Financials ETF	5.5	42	-28	5.9	-2.5
TLTD	FlexShares Morningstar Developed Markets ex-US Factor Tilt	5.5	39	-25	7.0	-1.5
IXUS	iShares Core MSCI Total International Stock ETF	5.3	7	7	6.5	-2.0
DXIV	Dimensional International Vector Equity ETF	5.3	34	-20	6.6	-1.9
ROAM	Hartford Multifactor Emerging Markets ETF	5.2	44	-30	7.5	-1.0
JXI	iShares Global Utilities ETF	5.2	43	-29	5.1	-3.3
VXUS	Vanguard Total International Stock ETF	5.2	5	9	6.5	-1.9
QLVE	FlexShares Emerging Markets Quality Low Volatility Index Fun	5.2	40	-26	6.2	-2.3
PIEL	Pacer International Export Leaders ETF	5.2	60	-46	3.9	-4.5
EWN	iShares MSCI Netherlands ETF	5.1	50	-36	4.4	-4.1
FYLD	Cambria Foreign Shareholder Yield ETF	5.1	59	-45	10.4	+1.9
QINT	American Century Quality Diversified International ETF	5.1	39	-25	6.6	-1.9
VIDI	Vident International Equity Strategy ETF	5.1	61	-47	8.2	-0.3
XC	WisdomTree Emerging Markets Ex-China Fund	5.1	32	-18	6.4	-2.1
NUEM	Nuveen ESG Emerging Markets Equity ETF	5.0	36	-22	5.9	-2.6
AVDE	Avantis International Equity ETF	4.9	23	-9	6.2	-2.3
QEMM	SPDR MSCI Emerging Markets StrategicFactors ETF	4.9	30	-16	7.5	-1.0
PXH	Invesco FTSE RAFI Emerging Markets ETF	4.9	49	-35	13.4	+5.0
WWJD	Inspire International ETF	4.9	80	-66	6.4	-2.1
DGT	State Street SPDR Global Dow ETF	4.8	50	-36	5.6	-2.8
FDEM	Fidelity Emerging Markets Multifactor ETF	4.8	25	-11	10.3	+1.8
UMMA	Wahed Dow Jones Islamic World ETF	4.7	65	-51	3.4	-5.0
FNDE	Schwab Fundamental Emerging Markets Large Co. Index ETF	4.7	39	-25	13.6	+5.2
PICK	iShares MSCI Global Metals & Mining Producers ETF	4.7	39	-25	8.7	+0.2
WDIV	SPDR S&P Global Dividend ETF	4.7	40	-26	9.1	+0.6
VPL	Vanguard FTSE Pacific ETF	4.7	7	7	5.1	-3.4
BATT	Amplify Lithium & Battery Technology ETF	4.7	59	-45	2.1	-6.4
COPX	Global X Copper Miners ETF	4.7	65	-51	4.6	-3.9
MXI	iShares Global Materials ETF	4.7	41	-27	6.2	-2.3
EV	Mast Global Battery Recycling & Production ETF	4.7	65	-51	6.4	-2.1
ICOP	iShares Copper and Metals Mining ETF	4.7	47	-33	6.0	-2.5
ECON	Columbia Emerging Markets Consumer ETF	4.6	49	-35	6.4	-2.1
TOLZ	ProShares DJ Brookfield Global Infrastructure ETF	4.6	46	-32	5.1	-3.3
EPI	WisdomTree India Earnings Fund	4.6	85	-71	5.1	-3.4
FLIN	Franklin FTSE India ETF	4.6	19	-5	4.1	-4.4
EAFG	Pacer Developed Markets Cash Cows Growth Leaders ETF	4.5	65	-51	4.0	-4.4
EFG	iShares MSCI EAFE Growth ETF	4.5	36	-22	3.7	-4.7
HEDJ	WisdomTree Europe Hedged Equity Fund	4.5	58	-44	6.0	-2.5
DFSI	Dimensional International Sustainability Core 1 ETF	4.5	24	-10	5.6	-2.9
EFAD	ProShares MSCI EAFE Dividend Growers ETF	4.5	50	-36	5.7	-2.8
RCGE	RockCreek Global Equality ETF	4.5	95	-81	5.9	-2.5
PIN	Invesco India ETF	4.5	78	-64	5.3	-3.2
DSTX	Distillate International Fundamental Stability & Value ETF	4.5	55	-41	6.5	-1.9
INDA	iShares MSCI India ETF	4.5	65	-51	4.5	-4.0
LDEM	iShares ESG MSCI EM Leaders ETF	4.4	17	-3	12.6	+4.2
VSGX	Vanguard ESG International Stock ETF	4.4	10	4	6.4	-2.0
SMOG	VanEck Low Carbon Energy ETF	4.3	61	-47	1.3	-7.2
COPA	Themes Copper Miners ETF	4.2	35	-21	3.2	-5.2
INDY	iShares India 50 ETF	4.1	89	-75	5.2	-3.2
FEOE	First Eagle Overseas Equity ETF	4.1	79	-65	6.1	-2.4
OAIM	OneAscent International Equity ETF	4.1	95	-81	4.4	-4.0
DFAX	Dimensional World ex U.S. Core Equity 2 ETF	4.1	30	-16	6.4	-2.1
UIVM	VictoryShares International Value Momentum ETF	4.0	35	-21	8.1	-0.4
EWS	iShares MSCI Singapore ETF	4.0	50	-36	3.8	-4.7
JHEM	John Hancock Multifactor Emerging Markets ETF	3.9	49	-35	7.4	-1.1
IDNA	iShares Genomics Immunology and Healthcare ETF	3.9	47	-33	-0.3	-8.8
EMMF	WisdomTree Emerging Markets Multifactor Fund	3.9	48	-34	8.4	-0.1
IXP	iShares Global Comm Services ETF	3.9	42	-28	5.8	-2.7
NXTG	First Trust Indxx NextG ETF	3.8	70	-56	3.5	-5.0
BBEM	JPMorgan BetaBuilders Emerging Markets Equity ETF	3.7	15	-1	7.8	-0.7
EMXF	iShares ESG Advanced MSCI EM ETF	3.7	16	-2	6.5	-2.0
FEP	First Trust Europe AlphaDEX Fund	3.7	80	-66	6.9	-1.5
JIG	JPMorgan International Growth ETF	3.7	55	-41	3.5	-4.9
GEM	Goldman Sachs ActiveBeta Emerging Markets Equity ETF	3.7	45	-31	7.8	-0.6
FLAX	Franklin FTSE Asia Ex Japan ETF	3.7	19	-5	7.0	-1.5
BKF	iShares MSCI BIC ETF	3.6	69	-55	14.8	+6.4
SCHE	Schwab Emerging Markets Equity ETF	3.6	11	3	9.3	+0.8
DGRE	WisdomTree Emerging Markets Quality Dividend Growth Fund	3.6	32	-18	4.7	-3.8
IVAL	Alpha Architect International Quantitative Value ETF	3.6	49	-35	7.7	-0.7
EMCR	Xtrackers Emerging Markets Carbon Reduction and Climate Impr	3.6	15	-1	8.6	+0.1
SDEM	Global X MSCI SuperDividend Emerging Markets ETF	3.6	67	-53	12.4	+4.0
ACWV	iShares MSCI Global Min Vol Factor ETF	3.5	20	-6	5.7	-2.8
EMGF	iShares Emerging Markets Equity Factor ETF	3.5	25	-11	8.7	+0.2
DIVY	Sound Equity Dividend Income ETF	3.5	45	-31	7.9	-0.6
LEGR	First Trust Indxx Innovative Transaction & Process ETF	3.3	65	-51	7.3	-1.2
GSEE	Goldman Sachs MarketBeta Emerging Markets Equity ETF	3.3	36	-22	7.4	-1.1
BKEM	BNY Mellon Emerging Markets Equity ETF	3.3	11	3	7.8	-0.7
VEXC	Vanguard Emerging Markets Ex-China ETF	3.3	7	7	5.5	-2.9
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	3.3	66	-52	7.1	-1.4
AIA	iShares Asia 50 ETF	3.3	50	-36	7.4	-1.0
AAXJ	iShares MSCI All Country Asia ex Japan ETF	3.2	70	-56	6.7	-1.8
AGQI	First Trust Active Global Quality Income ETF	3.1	85	-71	6.4	-2.1
ESGE	iShares ESG Aware MSCI EM ETF	3.1	25	-11	8.1	-0.4
EEMX	SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	3.1	30	-16	7.7	-0.7
IPAV	Global X Infrastructure Development ex-U.S. ETF	3.1	55	-41	5.9	-2.5
XCNY	SPDR S&P Emerging Markets ex-China ETF	3.1	15	-1	5.5	-3.0
VWO	Vanguard FTSE Emerging Markets ETF	3.1	7	7	9.0	+0.5
RNEM	First Trust Emerging Markets Equity Select ETF	3.1	75	-61	7.9	-0.5
ADIV	SmartETFs Asia Pacific Dividend Builder ETF	3.1	78	-64	9.5	+1.1
QWLD	SPDR MSCI World StrategicFactors ETF	3.1	30	-16	5.1	-3.3
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	3.0	47	-33	5.0	-3.5
KLMT	Invesco MSCI Global Climate 500 ETF	3.0	10	4	4.9	-3.6
NFTY	First Trust India NIFTY 50 Equal Weight ETF	3.0	80	-66	4.9	-3.6
MOTI	VanEck Morningstar International Moat ETF	3.0	58	-44	10.2	+1.8
URA	Global X Uranium ETF	3.0	69	-55	1.0	-7.5
EFNL	iShares MSCI Finland ETF	2.9	56	-42	5.8	-2.7
GEW	Cambria Global EW ETF	2.9	29	-15	5.3	-3.1
EEM	iShares MSCI Emerging Markets ETF	2.9	69	-55	7.6	-0.9
HEEM	iShares Currency Hedged MSCI Emerging Markets ETF	2.9	69	-55	7.3	-1.2
PATN	Pacer Nasdaq International Patent Leaders ETF	2.9	65	-51	3.9	-4.5
DEHP	Dimensional Emerging Markets High Profitability ETF	2.8	41	-27	4.7	-3.8
RAYE	Rayliant Quantamental Emerging Market ex-China Equity ETF	2.7	88	-74	7.9	-0.6
FEGE	First Eagle Global Equity ETF	2.7	79	-65	6.1	-2.4
JSTC	Adasina Social Justice All Cap Global ETF	2.7	89	-75	4.2	-4.3
EMXC	iShares MSCI Emerging Markets ex China ETF	2.7	25	-11	4.9	-3.6
EMSG	Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF	2.7	20	-6	12.8	+4.4
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.7	33	-19	6.5	-2.0
EWP	iShares MSCI Spain ETF	2.7	50	-36	5.8	-2.7
DTAN	Sparkline International Intangible Value ETF	2.7	55	-41	7.3	-1.2
MOTG	VanEck Morningstar Global Wide Moat ETF	2.7	52	-38	7.9	-0.6
ESGG	FlexShares STOXX Global ESG Select Index Fund	2.6	42	-28	4.0	-4.5
CGDV	Capital Group Dividend Value ETF	2.6	33	-19	3.7	-4.7
AVSE	Avantis Responsible Emerging Markets Equity ETF	2.6	33	-19	6.4	-2.0
DFAE	Dimensional Emerging Core Equity Market ETF	2.6	35	-21	6.8	-1.7
AVEM	Avantis Emerging Markets Equity ETF	2.6	33	-19	6.9	-1.6
BINV	Brandes International ETF	2.6	70	-56	8.5	+0.0
TLTE	FlexShares Morningstar Emerging Markets Factor Tilt Index	2.6	59	-45	8.3	-0.1
BLES	Inspire Global Hope ETF	2.6	61	-47	5.7	-2.7
CCNR	ALPS CoreCommodity Natural Resources ETF	2.5	39	-25	8.6	+0.2
IEMG	iShares Core MSCI Emerging Markets ETF	2.5	9	5	8.0	-0.5
NDIV	Amplify Natural Resources Dividend Income ETF	2.5	59	-45	12.0	+3.5
SPEM	SPDR Portfolio Emerging Markets ETF	2.5	7	7	9.3	+0.8
EEMO	Invesco S&P Emerging Markets Momentum ETF	2.5	29	-15	6.3	-2.2
MFEM	PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF	2.5	50	-36	8.2	-0.3
XCEM	Columbia EM Core ex-China ETF	2.4	16	-2	4.8	-3.7
GVAL	Cambria Global Value ETF	2.4	68	-54	8.5	+0.1
FKU	First Trust United Kingdom AlphaDEX Fund	2.4	80	-66	7.2	-1.3
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	2.4	38	-24	6.8	-1.6
OEFA	ALPS O�Shares International Developed Quality Dividend ETF	2.4	48	-34	4.7	-3.8
KEMX	KraneShares MSCI Emerging Markets EX China Index ETF	2.4	24	-10	5.0	-3.4
AVES	Avantis Emerging Markets Value ETF	2.4	36	-22	8.8	+0.4
DIVS	SmartETFs Dividend Builder ETF	2.4	65	-51	4.4	-4.1
DIM	WisdomTree International MidCap Dividend Fund	2.3	58	-44	6.3	-2.1
GLOF	iShares Global Equity Factor ETF	2.3	20	-6	5.5	-3.0
GII	SPDR S&P Global Infrastructure ETF	2.3	40	-26	4.2	-4.2
KOKU	Xtrackers MSCI Kokusai Equity ETF	2.3	9	5	4.4	-4.1
IGF	iShares Global Infrastructure ETF	2.3	41	-27	4.2	-4.3
DFEV	Dimensional Emerging Markets Value ETF	2.3	43	-29	9.2	+0.7
FDD	First Trust Stoxx European Select Dividend Index Fund	2.3	58	-44	10.0	+1.5
EEMA	iShares MSCI Emerging Markets Asia ETF	2.3	49	-35	7.4	-1.1
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	2.3	9	5	4.8	-3.7
FGM	First Trust Germany AlphaDEX Fund	2.3	80	-66	5.0	-3.4
STXE	Strive Emerging Markets Ex-China ETF	2.2	32	-18	5.0	-3.5
AQLT	iShares MSCI Global Quality Factor ETF	2.2	18	-4	0.0	-8.5
FLSA	Franklin FTSE Saudi Arabia ETF	2.2	39	-25	0.0	-8.5
KSA	iShares MSCI Saudi Arabia ETF	2.2	74	-60	0.0	-8.5
ACWI	iShares MSCI ACWI ETF	2.2	32	-18	4.6	-3.9
TOK	iShares MSCI Kokusai ETF	2.2	26	-12	4.2	-4.2
GLOV	Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF	2.2	25	-11	5.4	-3.1
IQRA	IQ CBRE Real Assets ETF	2.2	65	-51	5.8	-2.7
MEM	Matthews Emerging Markets Equity Active ETF	2.2	79	-65	8.3	-0.2
URTH	iShares MSCI World ETF	2.1	24	-10	4.3	-4.2
DFSE	Dimensional Emerging Markets Sustainability Core 1 ETF	2.1	41	-27	6.8	-1.7
CRBN	iShares MSCI ACWI Low Carbon Target ETF	2.1	20	-6	4.7	-3.8
UEVM	VictoryShares Emerging Markets Value Momentum ETF	2.1	45	-31	9.7	+1.2
DIVD	Altrius Global Dividend ETF Altrius Global Divid ETF	2.1	49	-35	7.8	-0.6
DVYE	iShares Emerging Markets Dividend ETF	2.1	49	-35	18.1	+9.6
AVXC	Avantis Emerging Markets Ex-China Equity ETF	2.0	33	-19	5.9	-2.6
KOCG	FIS Knights of Columbus Global Belief ETF	2.0	75	-61	4.5	-4.0
ECOW	Pacer Emerging Markets Cash Cows 100 ETF	2.0	70	-56	9.4	+0.9
VT	Vanguard Total World Stock ETF	2.0	6	8	4.9	-3.5
IMOM	Alpha Architect International Quantitative Momentum ETF	2.0	49	-35	4.3	-4.1
JGLO	JPMorgan Global Select Equity ETF	2.0	33	-19	4.2	-4.2
IOO	iShares Global 100 ETF	2.0	41	-27	3.8	-4.6
DEXC	Dimensional Emerging Markets ex China Core EquityETF	2.0	53	-39	4.9	-3.6
PIZ	Invesco Dorsey Wright Developed Markets Momentum ETF	2.0	80	-66	3.6	-4.9
DXJ	WisdomTree Japan Hedged Equity Fund	1.9	48	-34	5.1	-3.4
EWC	iShares MSCI Canada ETF	1.9	50	-36	5.1	-3.4
EWJV	iShares MSCI Japan Value ETF	1.8	15	-1	6.7	-1.7
FAN	First Trust Global Wind Energy ETF	1.8	60	-46	2.9	-5.5
XSOE	WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	1.8	32	-18	7.3	-1.2
CRTC	Xtrackers US National Critical Technologies ETF	1.8	35	-21	4.1	-4.3
CGGO	Capital Group Global Growth Equity ETF	1.8	47	-33	3.9	-4.6
EMDM	First Trust Bloomberg Emerging Market Democracies ETF	1.8	75	-61	6.1	-2.4
FLV	American Century Focused Large Cap Value ETF	1.8	42	-28	5.9	-2.6
CGUS	Capital Group Core Equity ETF	1.8	33	-19	3.5	-5.0
FRNW	Fidelity Clean Energy ETF	1.7	39	-25	1.9	-6.5
ION	ProShares S&P Global Core Battery Metals ETF	1.7	58	-44	6.6	-1.9
GMF	SPDR S&P Emerging Asia Pacific ETF	1.7	49	-35	8.4	-0.0
RGEF	Rockefeller Global Equity ETF	1.7	55	-41	3.7	-4.8
PRNT	3D Printing ETF	1.7	66	-52	1.2	-7.3
DFNL	Davis Select Financial ETF	1.7	63	-49	7.1	-1.4
SAGP	Strategas Global Policy Opportunities ETF	1.7	65	-51	4.8	-3.7
RFEM	First Trust Riverfront Dynamic Emerging Markets ETF	1.6	95	-81	9.8	+1.3
FLLA	Franklin FTSE Latin America ETF	1.6	19	-5	10.6	+2.2
EWZ	iShares MSCI Brazil ETF	1.6	58	-44	10.6	+2.2
THD	iShares MSCI Thailand ETF	1.6	58	-44	0.0	-8.5
EMC	Global X Emerging Markets Great Consumer ETF	1.6	75	-61	6.9	-1.5
CZAR	Themes Natural Monopoly ETF	1.5	35	-21	5.4	-3.1
FCA	First Trust China AlphaDEX Fund	1.5	80	-66	8.6	+0.1
FLCH	Franklin FTSE China ETF	1.5	19	-5	18.6	+10.1
FXI	iShares China Large-Cap ETF	1.5	74	-60	22.0	+13.6
GXC	SPDR S & P China ETF	1.5	59	-45	19.2	+10.8
MCHI	iShares MSCI China ETF	1.5	59	-45	21.0	+12.5
MCH	Matthews China Active ETF	1.5	79	-65	14.7	+6.3
JCHI	JPMorgan Active China ETF	1.5	65	-51	15.6	+7.1
GSIB	Themes Global Systemically Important Banks ETF	1.5	35	-21	7.8	-0.7
ICPY	Tweedy, Browne International Insider Value ETF	1.4	80	-66	21.0	+12.5
ENOR	iShares MSCI Norway ETF	1.4	53	-39	8.6	+0.1
NORW	Global X MSCI Norway ETF	1.4	50	-36	8.7	+0.3
NUKZ	Range Nuclear Renaissance Index ETF	1.4	85	-71	1.4	-7.0
IXJ	iShares Global Healthcare ETF	1.4	42	-28	6.2	-2.3
RXI	iShares Global Consumer Discretionary ETF	1.4	41	-27	8.3	-0.2
XT	iShares Exponential Technologies ETF	1.3	46	-32	3.8	-4.7
BITQ	Bitwise Crypto Industry Innovators ETF	1.3	85	-71	-2.2	-10.7
IPKW	Invesco International BuyBack Achievers ETF	1.3	55	-41	8.1	-0.4
FDFF	Fidelity Disruptive Finance ETF	1.3	50	-36	5.3	-3.2
VIGI	Vanguard International Dividend Appreciation ETF	1.3	10	4	6.0	-2.5
BLOK	Amplify Transformational Data Sharing ETF	1.3	75	-61	-0.1	-8.6
WLDR	Affinity World Leaders Equity ETF	1.3	67	-53	5.6	-2.9
POW	VistaShares Electrification Supercycle ETF	1.3	75	-61	2.1	-6.4
URAN	Themes Uranium & Nuclear ETF	1.2	35	-21	1.1	-7.4
AFK	VanEck Africa Index ETF	1.2	98	-84	11.4	+2.9
EXI	iShares Global Industrials ETF	1.2	42	-28	3.5	-4.9
EZA	iShares MSCI South Africa ETF	1.2	58	-44	9.5	+1.0
FLBR	Franklin FTSE Brazil ETF	1.2	19	-5	11.8	+3.3
NZAC	SPDR MSCI ACWI Climate Paris Aligned ETF	1.2	12	2	4.4	-4.1
TIIV	AAM Todd International Intrinsic Value ETF	1.2	54	-40	9.5	+1.1
FTHF	First Trust Emerging Markets Human Flourishing ETF	1.2	75	-61	5.5	-3.0
EYLD	Cambria Emerging Shareholder Yield ETF	1.1	66	-52	8.9	+0.4
COPY	Tweedy, Browne Insider + Value ETF	1.1	80	-66	14.6	+6.1
SDIV	Global X Superdividend ETF	1.0	58	-44	13.8	+5.3
JPXN	iShares JPX-Nikkei 400 ETF	1.0	48	-34	5.2	-3.2
GINX	SGI Enhanced Global Income ETF	1.0	98	-84	6.6	-1.9
DBJP	Xtrackers MSCI Japan Hedged Equity ETF	1.0	47	-33	4.4	-4.0
JADE	JPMorgan Active Developing Markets Equity ETF	1.0	65	-51	5.8	-2.6
BBJP	JPMorgan BetaBuilders Japan ETF	1.0	19	-5	5.1	-3.3
WRND	IQ Global Equity R&D Leaders ETF	1.0	18	-4	4.0	-4.5
CGXU	Capital Group International Focus Equity ETF	0.9	54	-40	3.7	-4.7
FRDM	Freedom 100 Emerging Markets ETF	0.9	49	-35	5.1	-3.3
QTUM	Defiance Quantum ETF	0.9	40	-26	3.5	-4.9
GLBL	Pacer MSCI World Industry Advantage ETF	0.9	65	-51	3.3	-5.1
EWJ	iShares MSCI Japan ETF	0.9	50	-36	4.7	-3.8
FFLC	Fidelity Fundamental Large Cap Core ETF	0.9	38	-24	3.8	-4.7
HEWJ	iShares Currency Hedged MSCI Japan ETF	0.9	50	-36	5.1	-3.3
FDT	First Trust Developed Markets ex-US AlphaDEX Fund	0.9	80	-66	6.9	-1.6
DTEC	ALPS Disruptive Technologies ETF	0.9	50	-36	3.6	-4.9
INCO	Columbia India Consumer ETF	0.9	75	-61	2.1	-6.4
FLJH	Franklin FTSE Japan Hedged ETF	0.8	9	5	4.9	-3.6
FLJP	Franklin FTSE Japan ETF	0.8	9	5	5.2	-3.3
GSJY	Goldman Sachs ActiveBeta Japan Equity ETF	0.8	25	-11	5.3	-3.1
TOLL	Tema Durable Quality ETF	0.8	75	-61	3.7	-4.8
ISHP	First Trust Nasdaq Retail ETF	0.8	60	-46	5.4	-3.1
SUPL	ProShares Supply Chain Logistics ETF	0.8	58	-44	7.5	-1.0
GINN	Goldman Sachs Innovate Equity ETF	0.8	52	-38	3.7	-4.8
FDCF	Fidelity Disruptive Communications ETF	0.8	50	-36	1.8	-6.7
HAUZ	DBX ETF Trust - Xtrackers International Real Estate ETF	0.8	10	4	8.5	+0.0
DFIS	Dimensional International Small Cap ETF	0.7	39	-25	6.2	-2.2
FOWF	Pacer Solactive Whitney Fututre of Warfare ETF	0.7	60	-46	3.4	-5.1
QAT	iShares MSCI Qatar ETF	0.7	59	-45	48.8	+40.3
EDOG	ALPS Emerging Sector Dividend Dogs ETF	0.6	60	-46	10.8	+2.3
KNCT	Invesco Next Gen Connectivity ETF	0.6	40	-26	2.8	-5.6
SHPP	Pacer Industrials and Logistics ETF	0.6	60	-46	6.6	-1.9
GPT	Intelligent Alpha Atlas ETF	0.6	69	-55	6.0	-2.5
GQRE	FlexShares Global Quality Real Estate Index Fund	0.6	45	-31	7.2	-1.3
FLN	First Trust Latin America AlphaDEX Fund	0.6	80	-66	9.9	+1.4
VEGI	iShares MSCI Agriculture Producers ETF	0.6	39	-25	7.7	-0.7
VNQI	Vanguard Global ex-U.S. Real Estate ETF	0.5	12	2	8.5	+0.0
FNDC	Schwab Fundamental International Small Co. Index ETF	0.5	39	-25	6.8	-1.7
FPXE	First Trust IPOX Europe Equity Opportunities ETF	0.5	70	-56	3.9	-4.6
EIPX	FT Energy Income Partners Strategy ETF	0.5	95	-81	5.9	-2.6
ILF	iShares Latin America 40 ETF	0.5	48	-34	9.6	+1.2
GLIN	VanEck India Growth Leaders ETF	0.5	77	-63	5.3	-3.2
FPXI	First Trust International Equity Opportunities ETF	0.4	70	-56	3.6	-4.8
BBCA	JPMorgan BetaBuilders Canada ETF	0.4	19	-5	5.4	-3.1
EWW	iShares MSCI Mexico ETF	0.4	50	-36	8.5	0.0
FLMX	Franklin FTSE Mexico ETF	0.4	19	-5	8.9	+0.5
OTGL	OTG Latin America ETF	0.4	269	-255	7.7	-0.7
PDN	Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF	0.4	49	-35	6.1	-2.4
EMDV	ProShares MSCI Emerging Markets Dividend Growers ETF	0.4	60	-46	6.7	-1.8
FTAG	First Trust Indxx Global Agriculture ETF	0.4	70	-56	7.1	-1.4
FVD	First Trust Value Line Dividend Index Fund	0.4	65	-51	5.6	-2.8
QUVU	Hartford Quality Value ETF	0.4	46	-32	5.3	-3.1
PIE	Invesco Dorsey Wright Emerging Markets Momentum ETF	0.4	90	-76	3.5	-5.0
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastructure	0.4	58	-44	3.5	-5.0
CGV	Conductor Global Equity Value ETF	0.4	130	-116	7.9	-0.5
IDX	VanEck Indonesia Index ETF	0.3	57	-43	10.5	+2.1
EWM	iShares MSCI Malaysia ETF	0.3	50	-36	6.6	-1.8
EWH	iShares MSCI Hong Kong ETF	0.3	50	-36	5.5	-2.9
KLMN	Invesco MSCI North America Climate ETF	0.3	9	5	4.2	-4.2
FLCA	Franklin FTSE Canada ETF	0.3	9	5	5.5	-3.0
FEM	First Trust Emerging Markets AlphaDEX Fund	0.3	80	-66	8.8	+0.3
EIPI	FT Energy Income Partners Enhanced Income ETF	0.3	110	-96	5.4	-3.0
FPA	First Trust Asia Pacific ex-Japan AlphaDEX Fund	0.2	80	-66	7.2	-1.3
ENZL	iShares MSCI New Zealand ETF	0.2	50	-36	3.7	-4.8
CUT	Invesco MSCI Global Timber ETF	0.2	61	-47	8.4	-0.1
WOOD	iShares Global Timber & Forestry ETF	0.2	42	-28	11.5	+3.1
AVEE	Avantis Emerging Markets Small Cap Equity ETF	0.2	42	-28	7.6	-0.9
EIDO	iShares MSCI Indonesia ETF	0.2	59	-45	11.4	+2.9
EEMS	iShares MSCI Emerging Markets Small Cap ETF	0.2	70	-56	6.4	-2.1
AIQ	Global X Artificial Intelligence & Technology ETF	0.2	68	-54	2.7	-5.8
UAE	iShares MSCI UAE ETF	0.2	59	-45	0.0	-8.5
BRAZ	Global X Brazil Active ETF	0.2	75	-61	10.4	+2.0
INFL	Horizon Kinetics Inflation Beneficiaries ETF	0.2	85	-71	2.9	-5.6
BCDF	Horizon Kinetics Blockchain Development ETF	0.2	85	-71	3.9	-4.6
DGS	WisdomTree Emerging Markets SmallCap Dividend Fund	0.2	58	-44	8.2	-0.2
RWX	SPDR Dow Jones International Real Estate ETF	0.2	59	-45	7.2	-1.3
EWX	SPDR S&P Emerging Markets Small Cap ETF	0.2	65	-51	6.3	-2.1
RWO	SPDR Dow Jones Global Real Estate ETF	0.2	50	-36	6.2	-2.3
ALRG	Allspring LT Large Core ETF	0.2	28	-14	3.5	-5.0
SCZ	iShares MSCI EAFE Small-Cap ETF	0.2	40	-26	6.2	-2.3
SDG	iShares MSCI Global Sustainable Development Goals ETF	0.1	49	-35	4.6	-3.9
WSML	iShares MSCI World Small-Cap ETF	0.1	15	-1	5.3	-3.2
EDEN	iShares MSCI Denmark ETF	0.1	53	-39	6.1	-2.3
DISV	Dimensional International Small Cap Value ETF	0.1	42	-28	8.3	-0.2
AVDS	Avantis International Small Cap Equity ETF	0.1	30	-16	6.1	-2.4
VSS	Vanguard FTSE All-World ex-US Small-Cap ETF	0.1	8	6	6.3	-2.1
FLKR	Franklin FTSE South Korea ETF	0.1	9	5	4.0	-4.4
SCJ	iShares MSCI Japan Small-Cap ETF	0.0	50	-36	5.4	-3.1
ISCF	iShares International SmallCap Equity Factor ETF	0.0	23	-9	7.3	-1.1

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

Content on this tab for subscribers only

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:	Schwab International Dividend Equity ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	18.2	%
Divided by: Fwd. P/BV	2.1	x
Less: Expense ratio	14	bp
Equals: ALTAR Score	8.5	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.72	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.