Global X Scientific Beta Europe
ALTAR
Score™
6.3% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
16.0x P/Sales
ratio
1.0x
P/BV
ratio
1.6x Div.
yield
3.4%


  • 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) $5
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) $25,952
Large cap (>$10bn) 57.9%
Mid cap ($2-10bn) 40.4%
Small cap (<$2bn) 1.6%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
ROYAL AHOLD DELHAIZE N.V. 1.2 %
COMPASS GROUP PLC 0.8 %
KERRY GROUP PLC-A 0.6 %
ALSTOM 0.6 %
SWISS RE AG 0.6 %
SSE PLC 0.6 %
ENEL SPA 0.6 %
HEXAGON AB-B SHS 0.5 %
FORTUM OYJ 0.5 %
ESSILOR INTERNATIONAL 0.5 %
Total 6.5 %

TOP COUNTRY EXPOSURE
BRITAIN 23.5 %
FRANCE 15.9 %
GERMANY 10.7 %
SWITZERLAND 8.8 %
SWEDEN 6.9 %
NETHERLANDS 6.8 %
ITALY 5.4 %
SPAIN 3.9 %
FINLAND 3.7 %
DENMARK 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
17.2% 11.9% -- -- 4.2%

Market Correlations
versus... Beta R-squared
S&P500 0.75 56%
MSCI EAFE 1.07 93%
MSCI Emg. Mkts. 0.73 69%

Technical Indicators
Recent close $25.42
30d moving avg. $25.08
Annualized volatility 12.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $23,809

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X Scientific Beta Europe 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™: 6.3%


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 56.4 37 1 6.5 +0.2
GSEU Goldman Sachs ActiveBeta Europe Equity 47.8 25 13 6.3 -0.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 46.2 30 8 6.6 +0.3
IEUR iShares Core MSCI Europe 46.2 9 29 6.7 +0.4
FLEH Franklin FTSE Europe Hedged 45.7 9 29 6.9 +0.6
FLEE Franklin FTSE Europe 45.6 9 29 6.8 +0.5
VGK Vanguard FTSE Europe 44.7 9 29 6.8 +0.5
BBEU JPMorgan BetaBuilders Europe 44.5 9 29 6.8 +0.5
DBEU Xtrackers Europe Hedged 44.5 45 -7 6.4 +0.1
FEU SPDR DJ Stoxx 50 44.2 9 29 6.7 +0.4
IEV iShares S&P Europe 350 42.6 59 -21 6.3 -0.0
GSIE Goldman Sachs ActiveBeta Int'l Equity 35.2 25 13 6.5 +0.1
DBEZ Xtrackers MSCI EMU Hedged 35.2 45 -7 6.4 +0.0
EUMV iShares MSCI Europe Min Volatility 35.0 25 13 5.2 -1.2
CIL Victory CEMP International Volatility Wtd 34.7 45 -7 6.8 +0.5
CIZ Compass EMP Dev. 500 Enhanced Vol. Wgt. 34.7 45 -7 6.8 +0.5
JHMD John Hancock Multifactor Developed International 34.5 45 -7 7.1 +0.8
EURZ Xtrackers Eurozone Equity 34.0 9 29 6.9 +0.6
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 33.9 35 3 7.8 +1.5
ESGD iShares MSCI EAFE ESG Optimized 33.8 20 18 6.8 +0.4

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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
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 1.5 x
Less: Expense ratio 38 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.73 CATEGORY
AVERAGE
1.63
 
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.