Global X Silver Miners ETF
ALTAR
Score™
1.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
39.0x P/Sales
ratio
3.7x
P/BV
ratio
1.9x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X Silvers Miners ETF is an exchange-traded fund incorporated in the USA. The seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Silver Miners Index ("Underlying Index").

FUND BASICS
Category Global Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Apr 19, 2010
Assets (mns) $643
Currency USD
Expense ratio 66 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 27
Wgt avg mkt cap (mns) $7,499
Large cap (>$10bn) 23.6%
Mid cap ($2-10bn) 47.0%
Small cap (<$2bn) 29.5%
Developed mkts 66.9%
Emerging mkts 33.1%

TOP TEN HOLDINGS
SILVER WHEATON CORP 22.7 %
POLYMETAL INTERNATIONAL PLC 13.7 %
PAN AMERICAN SILVER CORP 10.8 %
SSR MINING INC 5.1 %
FIRST MAJESTIC SILVER CORP 5.0 %
HECLA MINING CO 4.8 %
CIA DE MINAS BUENAVENTUR-ADR 4.7 %
FRESNILLO PLC 4.3 %
INDUSTRIAS PENOLES SAB DE CV 3.6 %
COEUR D'ALENE MINES CORP 3.2 %
Total 77.8 %

TOP COUNTRY EXPOSURE
CANADA 54.2 %
RUSSIA 13.9 %
UNITED STATES 9.5 %
BRITAIN 6.2 %
PERU 5.5 %
MEXICO 3.7 %
SOUTH KOREA 3.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
12.0% 40.3% 9.1% -0.7% -1.1%

Market Correlations
versus... Beta R-squared
S&P500 0.94 25%
MSCI EAFE 1.11 31%
MSCI Emg. Mkts. 0.93 34%

Technical Indicators
Recent close $36.22
30d moving avg. $35.10
Annualized volatility 31.6%
Short interest (ETF) 1.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 528
Turnover 3.0%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $880

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SIL Expense: 66 bp ALTAR Score™: 1.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SIL
Ticker Fund
Name
Overlap1
vs SIL
(%)
Expense
ratio
(bp)
Savings
vs SIL
(bp)
ALTAR
Score™
(%)
ALTAR
vs SIL
(%)
SLVP iShares MSCI Global Silver Miners ETF 46.4 39 27 1.7 -0.1
SILJ ETFMG Prime Junior Silver ETF 43.5 69 -3 0.5 -1.3
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 19.1 60 6 2.5 +0.7
EPU iShares MSCI All Peru Capped ETF 12.8 59 7 5.8 +4.0
RING iShares MSCI Global Gold Miners ETF 11.3 39 27 3.4 +1.6
GOEX Global X Gold Explorers ETF 11.2 65 1 3.2 +1.4
SGDJ ALPS Sprott Junior Gold Miners ETF 8.3 50 16 3.4 +1.6
XME SPDR S&P Metals & Mining ETF 8.0 35 31 8.5 +6.7
GDXJ VanEck Vectors Junior Gold Miners ETF 7.9 53 13 2.8 +1.0
SGDM Sprott Gold Miners ETF 7.5 50 16 2.9 +1.0
RSX VanEck Vectors Russia ETF 4.9 67 -1 13.1 +11.3
PACA Xtrackers MSCI Latin America Pacific Alliance ETF 3.8 45 21 8.3 +6.5
NANR SPDR S&P North American Natural Resources ETF 3.7 35 31 3.4 +1.6
AGT iShares MSCI Argentina & Global Exposure ETF A 3.3 59 7 5.4 +3.6
ARGT Global X MSCI Argentina ETF 3.3 60 6 5.4 +3.6
AIIQ AI Powered International Equity ETF 1.9 79 -13 4.6 +2.8
GDX VanEck Vectors Gold Miners ETF 1.8 52 14 2.9 +1.1
EWC iShares MSCI Canada ETF 1.7 49 17 6.9 +5.1
FLCA Franklin FTSE Canada ETF 1.6 9 57 7.4 +5.5
GNR SPDR S&P Global Natural Resources ETF 1.5 40 26 6.7 +4.9
BBCA JPMorgan BetaBuilders Canada ETF 1.5 19 47 7.1 +5.3
GUNR Flexshares Morningstar Global Upstream Natural Resources 1.5 46 20 5.8 +4.0
QCAN SPDR MSCI Canada Quality Mix ETF 1.4 14 52 7.2 +5.3
FCAN First Trust Canada AlphaDex Fund 1.4 80 -14 4.8 +3.0
EWW iShares MSCI Mexico Capped ETF 1.4 49 17 8.8 +7.0
FLMX Franklin FTSE Mexico ETF 1.3 19 47 9.8 +8.0
GRES IQ Global Resources ETF 1.3 77 -11 7.6 +5.8
OBOR KraneShares MSCI One Belt One Road Index ETF 1.2 79 -13 9.5 +7.7
MXI iShares Global Materials ETF 1.1 46 20 6.1 +4.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 0.9 32 34 6.4 +4.6
FLN First Trust Latin America AlphaDEX Fund 0.8 80 -14 7.9 +6.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 0.8 30 36 4.4 +2.6
FEP First Trust Europe AlphaDEX Fund 0.8 80 -14 7.8 +6.0
FKU First Trust United Kingdom AlphaDEX Fund 0.8 80 -14 9.3 +7.5
SCHC Schwab International Small-Cap Equity ETF 0.7 11 55 6.9 +5.1
FLLA Franklin FTSE Latin America ETF 0.7 19 47 6.7 +4.9
WWJD Inspire International ESG ETF 0.6 80 -14 7.6 +5.8
IDLB Invesco FTSE International Low Beta Equal Weight ETF 0.6 45 21 7.3 +5.5
FKO First Trust South Korea AlphadDEX Fund 0.6 80 -14 9.3 +7.4
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.6 29 37 5.7 +3.8
FDT First Trust Developed Markets ex-US Alphadex Fund 0.5 80 -14 7.7 +5.8
FNDC Schwab Fundamental International Small Co. Index ETF 0.5 39 27 7.5 +5.7
JPEU JPMorgan Diversified Return Europe Equity ETF 0.5 37 29 7.0 +5.2
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.5 80 -14 8.1 +6.3
NUEM Nuveen ESG Emerging Markets Equity ETF 0.5 45 21 7.6 +5.8
FLKR Franklin FTSE South Korea ETF 0.5 9 57 9.7 +7.9
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.5 11 55 6.9 +5.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 0.5 20 46 4.7 +2.9
GWX SPDR S&P International Small Cap ETF 0.5 40 26 6.8 +5.0
ISDS Invesco Strategic Developed ex-US Small Company ETF 0.5 35 31 6.9 +5.1
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.5 39 27 7.7 +5.9
EWY iShares MSCI South Korea ETF 0.4 59 7 9.2 +7.4
HAP VanEck Vectors Natural Resources ETF 0.4 50 16 6.4 +4.6
FLGB Franklin FTSE United Kingdom ETF 0.4 9 57 7.6 +5.8
SCID Global X Scientific Beta Europe ETF 0.4 39 27 6.5 +4.7
IWN iShares Russell 2000 Value ETF 0.4 24 42 7.4 +5.5
VTWV Vanguard Russell 2000 Value Index Fund 0.4 15 51 7.5 +5.7
FMAT Fidelity MSCI Materials Index ETF 0.4 8 58 6.1 +4.3
IDMO Invesco S&P International Developed Momentum ETF 0.4 26 40 4.6 +2.8
VAW Vanguard Materials Index Fund 0.4 10 56 6.1 +4.3
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 27 7.6 +5.8
JPIN JPMorgan Diversified Return International Equity ETF 0.4 37 29 8.1 +6.3
UIVM VictoryShares USAA MSCI International Value Momentum ETF 0.4 35 31 8.9 +7.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.4 45 21 8.2 +6.4
FDEV Fidelity Targeted International Factor ETF 0.3 39 27 6.5 +4.7
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 0.3 40 26 8.9 +7.0
ISMD Inspire Small/Mid Cap Impact ETF 0.3 60 6 6.6 +4.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.3 30 36 8.1 +6.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.3 32 34 6.4 +4.6
BLES Inspire Global Hope Large Cap ETF 0.3 52 14 6.5 +4.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.3 49 17 8.1 +6.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.3 30 36 9.0 +7.1
RNSC Small Cap US Equity Select ETF 0.3 60 6 7.8 +6.0
RBIN Nationwide Risk-Based International Equity ETF 0.3 42 24 6.5 +4.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.3 49 17 6.8 +5.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 0.3 24 42 7.3 +5.5
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.3 39 27 4.2 +2.4
CIL VictoryShares International Volatility Weighted Index ETF 0.3 45 21 6.8 +4.9
VEA Vanguard FTSE Developed Markets ETF 0.2 5 61 7.5 +5.7
AVDE Avantis International Equity ETF 0.2 23 43 8.0 +6.2
TPIF Timothy Plan International ETF 0.2 62 4 6.4 +4.6
AVDV Avantis International Small Cap Value ETF 0.2 36 30 7.8 +6.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.2 29 37 8.8 +6.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 0.2 16 50 7.0 +5.2
IQDG WisdomTree International Quality Dividend Growth Fund 0.2 38 28 6.4 +4.6
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.2 58 8 6.1 +4.3
QINT American Century Quality Diversified International ETF 0.2 39 27 5.9 +4.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.2 58 8 6.3 +4.5
VSGX Vanguard ESG International Stock ETF 0.2 17 49 7.3 +5.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.2 20 46 7.1 +5.3
AVEM Avantis Emerging Markets Equity ETF 0.2 33 33 9.2 +7.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 0.2 24 42 7.3 +5.5
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 36 7.3 +5.5
TPSC Timothy Plan US Small Cap Core ETF 0.2 52 14 8.4 +6.6
SCHF Schwab International Equity ETF 0.2 6 60 7.4 +5.6
ISZE iShares Edge MSCI Intl Size Factor ETF 0.2 30 36 7.5 +5.7
DIM WisdomTree International MidCap Dividend Fund 0.2 58 8 7.8 +6.0
VXUS Vanguard Total International Stock Index Fund 0.2 8 58 7.7 +5.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.2 65 1 7.7 +5.9

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 Silver Miners 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 4.6 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 66 bp
Equals: ALTAR Score 1.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 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.