ETF Research Center

THNQ tracks a global index of companies involved in developing the technology and the infrastructure of enabling artificial intelligence.

FUND BASICS
Category	Global Equities
Fund Sponsor	Exchange Traded Concepts
Website	roboglobaletfs.com
Inception date	May 08, 2020
Assets (mns)	$168
Currency	USD
Expense ratio	68 bp
Distributions	Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Tiered
Index replication
Uses derivatives	Yes
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	60
Wgt avg mkt cap (mns)	$309,650
Large cap (>$10bn)	86.0%
Mid cap ($2-10bn)	10.7%
Small cap (<$2bn)	3.4%
Developed mkts	87.7%
Emerging mkts	12.3%

TOP TEN HOLDINGS
Total	24.9 %
ALIBABA GROUP HOLDING LTD. SPONSOR	3.7 %
CLOUDFLARE INC CLASS A	2.7 %
RASPBERRY PI HOLDINGS PLC	2.5 %
ANALOG DEVICES INC	2.5 %
ASML HOLDING NV-NY REG SHS	2.3 %
PALO ALTO NETWORKS INC	2.2 %
TEMPUS AI INC CLASS A COMMON STOCK	2.2 %
JD.COM INC-ADR	2.2 %
LAM RESEARCH CORP	2.2 %
CYBERARK SOFTWARE LTD.	2.2 %

TOP COUNTRY EXPOSURE
	UNITED STATES	70.2 %
	TAIWAN	6.2 %
	CHINA	5.9 %
	NETHERLANDS	2.3 %
	ISRAEL	2.2 %
	GERMANY	1.8 %
	ARGENTINA	1.8 %
	LUXEMBOURG	1.8 %
	CANADA	1.7 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru April 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
-8.2%	7.6%	--	--	12.3%

Market Correlations
versus...	Beta	R-squared
S&P500	1.31	73%
MSCI EAFE	0.91	37%
MSCI Emg. Mkts.	0.84	31%

Technical Indicators
Recent close	$47.37
30d moving avg.	$43.86
Annualized volatility	25.5%
Short interest (ETF)	0.7%
Relative strength (RSI)	48

Liquidity measures
Avg. volume (thou.)	19
Turnover	0.5%
Bid/Ask (% of price)	0.36%
ADV underlying (mns)	$98,058

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 31 potential alternatives to the ROBO Global Artificial Intelligence ETF ETF based on the alternatives' overlap in portfolio holdings with THNQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

THNQ

Expense:

68 bp

ALTAR Score™:

2.7%

ALTERNATIVE ETFs BASED ON OVERLAP WITH THNQ
Ticker	Fund Name	Overlap¹ vs THNQ (%)	Expense ratio (bp)	Savings vs THNQ (bp)	ALTAR Score™ (%)	ALTAR vs THNQ (%)
QRMI	Global X NASDAQ 100 Risk Managed Income ETF	23.0	60	8	4.2	+1.5
QYLD	Global X NASDAQ 100 Covered Call ETF	23.0	60	8	4.2	+1.5
QYLG	Global X Nasdaq 100 Covered Call & Growth ETF	22.4	60	8	4.2	+1.4
QCLR	Global X NASDAQ 100 Collar 95-110 ETF	21.8	25	43	4.5	+1.8
QTR	Global X NASDAQ 100 Tail Risk ETF	21.8	26	42	4.5	+1.8
MMLG	First Trust Multi-Manager Large Growth ETF	21.6	85	-17	2.1	-0.6
NUSI	Nationwide Nasdaq-100 Risk-Managed Income ETF	21.6	68	0	4.1	+1.4
GARP	iShares MSCI USA Quality GARP ETF	20.5	15	53	4.6	+1.9
JEPQ	J.P. Morgan Nasdaq Equity Premium Income ETF	19.9	35	33	4.6	+1.9
XYLD	Global X S&P 500 Covered Call ETF	15.8	60	8	5.0	+2.2
XRMI	Global X S&P 500 Risk Managed Income ETF	15.8	60	8	5.0	+2.2
PBP	Invesco S&P 500 BuyWrite ETF	15.8	49	19	5.0	+2.3
SFLR	Innovator Equity Managed Floor ETF	15.6	89	-21	4.3	+1.6
XYLG	Global X S&P 500 Covered Call & Growth ETF	15.5	60	8	5.0	+2.2
XTR	Global X S&P 500 Tail Risk ETF	15.2	26	42	5.3	+2.5
XCLR	Global X S&P 500 Collar 95-110 ETF	15.2	25	43	5.3	+2.6
LCG	Sterling Capital Focus Equity ETF	15.2	59	9	3.2	+0.5
ACIO	Aptus Collared Investment Opportunity ETF	14.7	79	-11	4.4	+1.7
FTQI	First Trust Nasdaq BuyWrite Income ETF	14.2	75	-7	3.9	+1.1
FTHI	First Trust BuyWrite Income ETF	14.2	75	-7	5.1	+2.4
TYLG	Global X Information Technology Covered Call & Growth ETF	13.8	60	8	4.7	+2.0
CCOR	Core Alternative ETF	12.6	107	-39	5.5	+2.8
EFIV	SPDR S&P 500 ESG ETF	12.0	10	58	5.6	+2.9
SIXH	ETC 6 Meridian Hedged Equity Index Option ETF	9.2	82	-14	7.2	+4.5
QQQA	ProShares Nasdaq-100 Dorsey Wright Momentum ETF	8.3	58	10	2.5	-0.2
DJIA	Global X Dow 30 Covered Call ETF	7.9	60	8	5.5	+2.8
DYLG	Global X Dow 30 Covered Call & Growth ETF	7.9	60	8	5.4	+2.7
DIVO	Amplify CWP Enhanced Dividend Income ETF	6.0	55	13	5.4	+2.7
XVOL	Acruence Active Hedge U.S. Equity ETF	5.2	83	-15	4.4	+1.7
IDVO	Amplify International Enhanced Dividend Income ETF	3.0	65	3	5.7	+3.0
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income ETF	1.7	75	-7	5.8	+3.1

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%.

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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

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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:	ROBO Global Artificial Intelligence 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	18.0	%
Divided by: Fwd. P/BV	5.3	x
Less: Expense ratio	68	bp
Equals: ALTAR Score	2.7	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.49	CATEGORY AVERAGE	1.55

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.