ETFMG Prime Junior Silver
ALTAR
Score™
-0.7% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
-6,863.1x P/Sales
ratio
1.9x
P/BV
ratio
1.3x Div.
yield
0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ETFMG Prime Junior Silver ETF tracks a modified market-cap-weighted index of small-cap silver mining and exploration companies.

FUND BASICS
Category Global Equities
Fund Sponsor ETF Managers Group
Website www.etfmgfunds.com
Inception date Nov 29, 2012
Assets (mns) $113
Currency USD
Expense ratio 69 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian US Bank NA
Weighting Tiered
Index replication Unknown
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 32
Wgt avg mkt cap (mns) $1,200
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 18.2%
Small cap (<$2bn) 81.8%
Developed mkts 88.1%
Emerging mkts 11.9%

TOP TEN HOLDINGS
PAN AMERICAN SILVER CORP 12.7 %
COEUR D'ALENE MINES CORP 12.4 %
FIRST MAJESTIC SILVER CORP 12.4 %
HOCHSCHILD MINING PLC 10.6 %
HECLA MINING CO 5.6 %
SILVERCORP METALS INC 4.5 %
SSR MINING INC 4.5 %
YAMANA GOLD INC 4.4 %
MAG SILVER CORP 3.8 %
HUDBAY MINERALS INC 2.6 %
Total 73.5 %

TOP COUNTRY EXPOSURE
CANADA 60.0 %
UNITED STATES 21.4 %
BRITAIN 10.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
28.9% 32.5% 6.6% -- -8.5%

Market Correlations
versus... Beta R-squared
S&P500 0.47 3%
MSCI EAFE 0.89 10%
MSCI Emg. Mkts. 0.91 17%

Technical Indicators
Recent close $10.36
30d moving avg. $9.93
Annualized volatility 31.4%
Short interest (ETF) 1.3%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 337
Turnover 3.1%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $147

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ETFMG Prime Junior Silver ETF based on the alternatives' overlap in portfolio holdings with SILJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SILJ Expense: 69 bp ALTAR Score™: -0.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SILJ
Ticker Fund
Name
Overlap1
vs SILJ
(%)
Expense
ratio
(bp)
Savings
vs SILJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs SILJ
(%)
SLVP iShares MSCI Global Silver Miners 42.5 39 30 0.6 +1.3
SIL Global X Silver Miners ETF 38.0 65 4 1.9 +2.6
GDXJ VanEck Vectors Jr. Gold Miners 20.8 53 16 2.5 +3.2
XME SPDR Metals & Mining ETF 13.1 35 34 2.7 +3.4
GOEX Global X Gold Explorers 11.5 65 4 2.4 +3.1
EPU iShares MSCI All Peru Capped 8.0 59 10 4.5 +5.1
GDX VanEck Vectors Gold Miners ETF 7.7 52 17 2.5 +3.2
SGDJ ALPS Sprott Junior Gold Miners 7.5 50 19 2.2 +2.9
ARGT Global X FTSE Argentina 20 6.5 59 10 6.0 +6.7
AGT iShares MSCI Argentina & Global Exposure 6.5 59 10 6.0 +6.6
GOAU U.S. Global GO GOLD and Precious Metal Miners 6.3 60 9 3.7 +4.4
SGDM Sprott Gold Miners 6.1 50 19 2.8 +3.5
DOGS Arrow Dogs of the World 5.9 164 -95 8.0 +8.6
RING iShares MSCI Global Gold Miners 5.4 39 30 3.0 +3.6
COPX Global X Copper Miners 2.6 65 4 6.3 +7.0
PYZ Invesco Dynamic Basic Materials Sector 1.9 60 9 5.9 +6.6
AIIQ AI Powered International Equity 1.2 79 -10 4.4 +5.1
BOON NYSE Pickens Oil Response 1.2 85 -16 3.5 +4.2
SMMV iShares Edge MSCI Min Vol USA Small-Cap 0.8 20 49 5.2 +5.8
GRES Index IQ Global Resources 0.7 77 -8 6.2 +6.8

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

  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

Content on this tab for subscribers only

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:
ETFMG Prime Junior Silver
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 0.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 69 bp
Equals: ALTAR Score -0.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 CATEGORY
AVERAGE
1.54
 
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.