Global X Scientific Beta Europe ETF
ALTAR
Score™
8.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
13.3x P/Sales
ratio
0.8x
P/BV
ratio
1.1x Div.
yield
4.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X Scientific Beta Europe ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Scientific Beta Extended Europe Multi-Beta Multi-Strategy Equal Risk Contribution Index.

FUND BASICS
Category International Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date May 13, 2015
Assets (mns) $4
Currency USD
Expense ratio 38 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Brown Brothers Harriman & Co
Weighting Multi-Factor
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 479
Wgt avg mkt cap (mns) $22,075
Large cap (>$10bn) 48.8%
Mid cap ($2-10bn) 47.7%
Small cap (<$2bn) 3.4%
Developed mkts 100.0%
Emerging mkts 0.1%

TOP TEN HOLDINGS
ALSTOM 0.8 %
SSE PLC 0.8 %
ROYAL AHOLD DELHAIZE N.V. 0.8 %
COLOPLAST A/S CLASS B 0.8 %
ENEL SPA 0.8 %
COMPASS GROUP PLC 0.8 %
PENNON GROUP PLC 0.7 %
KERRY GROUP PLC-A 0.7 %
ELISA OYJ CLASS A 0.7 %
REED ELSEVIER PLC 0.7 %
Total 7.6 %

TOP COUNTRY EXPOSURE
BRITAIN 22.3 %
FRANCE 15.8 %
GERMANY 10.7 %
SWITZERLAND 10.1 %
SWEDEN 7.8 %
NETHERLANDS 6.0 %
ITALY 5.7 %
FINLAND 4.2 %
DENMARK 3.8 %
SPAIN 3.7 %

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.
-26.6% -18.4% -- -- -1.7%

Market Correlations
versus... Beta R-squared
S&P500 0.97 74%
MSCI EAFE 1.12 95%
MSCI Emg. Mkts. 0.85 82%

Technical Indicators
Recent close $18.30
30d moving avg. $20.97
Annualized volatility 17.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 30

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.0%
Bid/Ask (% of price) 0.54%
ADV underlying (mns) $28,861

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Global X Scientific Beta Europe ETF ETF based on the alternatives' overlap in portfolio holdings with SCID. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SCID Expense: 38 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SCID
Ticker Fund
Name
Overlap1
vs SCID
(%)
Expense
ratio
(bp)
Savings
vs SCID
(bp)
ALTAR
Score™
(%)
ALTAR
vs SCID
(%)
JPEU JPMorgan Diversified Return Europe Equity ETF 57.5 37 1 8.8 -0.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 47.1 25 13 8.5 -0.5
IEUR iShares Core MSCI Europe ETF 45.4 9 29 9.3 +0.4
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 45.3 30 8 8.7 -0.3
FLEE Franklin FTSE Europe ETF 44.6 9 29 9.0 +0.0
VGK Vanguard FTSE Europe ETF 44.4 8 30 9.5 +0.5
FLEH Franklin FTSE Europe Hedged ETF 44.4 9 29 8.9 -0.1
FEU SPDR Portfolio Europe ETF 43.4 9 29 9.3 +0.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 43.3 45 -7 8.5 -0.5
BBEU JPMorgan BetaBuilders Europe ETF 43.2 9 29 9.2 +0.3
IEV iShares Europe ETF 41.6 59 -21 8.8 -0.1
EUMV iShares Edge MSCI Min Vol Europe ETF 36.9 25 13 6.5 -2.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 35.6 45 -7 8.9 +0.0
CIZ Victory CEMP Developed Enhanced Volatility Weighted Index ET 34.8 45 -7 9.4 +0.5
CIL Victory CEMP International Volatility Weighted Index ETF 34.8 45 -7 9.3 +0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 34.6 25 13 8.7 -0.2
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 34.5 24 14 9.3 +0.3
EURZ Xtrackers Eurozone Equity ETF 34.3 9 29 9.3 +0.4
JHMD John Hancock Multifactor Developed International ETF 34.0 45 -7 9.6 +0.6
EZU iShares MSCI Eurozone ETF 33.5 49 -11 9.1 +0.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 33.3 29 9 9.5 +0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 32.8 35 3 11.0 +2.1
DWM WisdomTree International Equity Fund 32.8 48 -10 10.8 +1.8
EFA iShares MSCI EAFE ETF 32.4 32 6 9.2 +0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 32.4 20 18 9.2 +0.2
JPIN JPMorgan Diversified Return International Equity ETF 32.3 38 0 10.0 +1.1
ISZE iShares Edge MSCI Intl Size Factor ETF 32.2 30 8 9.2 +0.3
IEFA iShares Core MSCI EAFE ETF 32.0 7 31 9.4 +0.5
PDEV Principal International Multi-Factor Core Index ETF 32.0 25 13 8.6 -0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 31.9 39 -1 8.4 -0.5
QEFA SPDR MSCI EAFE Quality Mix ETF 31.9 30 8 8.3 -0.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 31.8 20 18 9.2 +0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 31.7 20 18 9.5 +0.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 31.7 35 3 8.9 -0.0
RNDM Developed International Equity Select ETF 31.6 65 -27 8.2 -0.7
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 31.4 7 31 9.6 +0.6
RBIN Nationwide Risk-Based International Equity ETF 30.9 42 -4 8.6 -0.4
IDEV iShares Core MSCI International Developed Markets ETF 30.8 5 33 9.4 +0.5
OEUR O'shares FTSE Europe Quality Dividend ETF 30.7 48 -10 7.8 -1.1
DDEZ WisdomTree Europe Multifactor Fund 30.4 43 -5 8.6 -0.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 30.3 45 -7 11.6 +2.7
TPIF Timothy Plan International ETF 29.9 62 -24 9.0 +0.0
IQSI IQ Candriam ESG International Equity ETF 29.8 15 23 9.3 +0.3
DIM WisdomTree International MidCap Dividend Fund 29.7 58 -20 10.4 +1.4
IQIN IQ 500 International ETF 29.7 25 13 11.3 +2.4
SCHF Schwab International Equity ETF 29.6 6 32 9.5 +0.6
FEP First Trust Europe AlphaDEX Fund 29.5 80 -42 11.2 +2.3
SPDW SPDR Portfolio Developed World ex-US ETF 29.2 4 34 9.3 +0.4
FNDF Schwab Fundamental International Large Co. Index ETF 29.0 25 13 11.4 +2.4
VEA Vanguard FTSE Developed Markets ETF 28.3 5 33 9.7 +0.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 28.2 29 9 10.9 +1.9
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 27.8 48 -10 0.0 -8.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 26.8 14 24 8.8 -0.2
QINT American Century Quality Diversified International ETF 26.8 39 -1 7.7 -1.2
EFG iShares MSCI EAFE Growth ETF 26.1 40 -2 6.0 -2.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 25.7 20 18 6.8 -2.1
DOL WisdomTree International LargeCap Dividend Fund 25.2 48 -10 11.0 +2.1
ISDX Invesco Strategic Developed ex-US ETF 25.0 23 15 10.1 +1.2
IMTM iShares Edge MSCI Intl Momentum Factor ETF 24.9 30 8 5.9 -3.0
DTH WisdomTree DEFA Equity Income Fund 24.9 58 -20 12.6 +3.7
UIVM VictoryShares USAA MSCI International Value Momentum ETF 24.7 35 3 10.9 +1.9
ACWX iShares MSCI ACWI ex U.S. ETF 24.6 32 6 9.6 +0.7
EFV iShares MSCI EAFE Value ETF 24.6 39 -1 12.7 +3.8
VEU Vanguard FTSE All-World ex-US Index Fund 24.3 8 30 9.8 +0.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 24.2 39 -1 11.9 +3.0
IXUS ishares Core MSCI Total International Stock ETF 24.2 9 29 9.7 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 24.0 40 -2 9.2 +0.3
AVDE Avantis International Equity ETF 23.9 23 15 10.4 +1.5
CWI SPDR MSCI ACWI ex-US ETF 23.9 30 8 9.5 +0.6
VXUS Vanguard Total International Stock Index Fund 23.6 8 30 9.8 +0.9
IDLB Invesco FTSE International Low Beta Equal Weight ETF 23.4 45 -7 8.8 -0.1
IDY Pacific Global International Equity Income ETF 23.4 39 -1 11.1 +2.2
RFEU First Trust Riverfront Dynamic Europe ETF 23.3 83 -45 6.4 -2.5
FEUZ First Trust Eurozone AlphaDEX ETF 23.3 80 -42 10.2 +1.3
EUDG WisdomTree Europe Quality Dividend Growth Fund 22.4 58 -20 7.9 -1.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 21.8 30 8 7.7 -1.3
FDEV Fidelity Targeted International Factor ETF 21.8 39 -1 7.9 -1.1
VSGX Vanguard ESG International Stock ETF 21.6 17 21 9.3 +0.4
VYMI Vanguard International High Dividend Yield ETF 21.4 32 6 12.6 +3.6
JPGE JPMorgan Diversified Return Global Equity ETF 21.3 29 9 9.4 +0.5
IEUS iShares MSCI Europe Small-Cap ETF 21.2 40 -2 9.3 +0.3
RFDI First Trust Riverfront Dynamic Developed International ETF 20.6 83 -45 8.1 -0.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 20.5 16 22 8.9 -0.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 19.5 32 6 7.8 -1.2
IGRO iShares International Dividend Growth ETF 18.7 22 16 9.9 +1.0
IDLV Invesco S&P International Developed Low Volatility ETF 18.7 25 13 8.1 -0.8
FDT First Trust Developed Markets ex-US Alphadex Fund 18.3 80 -42 11.5 +2.6
FLGB Franklin FTSE United Kingdom ETF 18.1 9 29 9.3 +0.4
NUDM Nuveen ESG International Developed Markets Equity ETF 17.7 40 -2 8.7 -0.2
IDMO Invesco S&P International Developed Momentum ETF 17.6 25 13 5.8 -3.1
INTF iShares Edge MSCI Multifactor Intl ETF 17.3 30 8 10.4 +1.5
HEDJ WisdomTree Europe Hedged Equity Fund 17.3 58 -20 10.0 +1.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 16.7 42 -4 7.3 -1.7
DWMF WisdomTree International Multifactor Fund 16.3 38 0 8.4 -0.6
TOK iShares MSCI Kokusai ETF 16.2 25 13 7.5 -1.4
IDHQ Invesco S&P International Developed High Quality ETF 15.9 29 9 6.7 -2.2
PIZ Invesco DWA Developed Markets Momentum ETF 15.9 80 -42 6.2 -2.7
SCZ iShares MSCI Eafe Small-Cap ETF 15.8 40 -2 8.8 -0.2
VIGI Vanguard International Dividend Appreciation ETF 15.7 25 13 7.3 -1.7

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 Scientific Beta Europe ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.2 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 38 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 CATEGORY
AVERAGE
1.58
 
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.