ProShares DJ Brookfield Global Infrastructure ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
2.1x
P/BV
ratio
2.1x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ProShares DJ Brookfield Global Infrastructure ETF is an exchange-traded fund incorporated in the USA. The ETF seeks investment results, before fees and expenses, that track the performance of the DJ Brookfield Global Infrasctructure Composite Index.

FUND BASICS
Category Global Equities
Fund Sponsor ProShare Advisors LLC
Website www.proshares.com
Inception date Mar 25, 2014
Assets (mns) $144
Currency USD
Expense ratio 46 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 124
Wgt avg mkt cap (mns) $35,224
Large cap (>$10bn) 79.1%
Mid cap ($2-10bn) 19.2%
Small cap (<$2bn) 1.7%
Developed mkts 97.8%
Emerging mkts 2.2%

TOP TEN HOLDINGS
AMERICAN TOWER CORP-CL A 9.8 %
CROWN CASTLE INTL CORP 6.0 %
ENBRIDGE INC 5.7 %
VINCI SA 4.4 %
NATIONAL GRID PLC 3.9 %
TRANSCANADA CORP 3.7 %
SEMPRA ENERGY 2.9 %
SBA COMMUNICATIONS CORP. CLASS A 2.9 %
TRANSURBAN GROUP 2.4 %
EVERSOURCE ENERGY 2.4 %
Total 44.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 48.9 %
CANADA 13.7 %
BRITAIN 5.9 %
FRANCE 5.5 %
AUSTRALIA 4.5 %
HONG KONG 3.6 %
SPAIN 3.5 %
ITALY 3.4 %
CHINA 2.1 %
JAPAN 1.6 %

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.
-14.3% -9.5% 2.5% -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.82 70%
MSCI EAFE 0.88 71%
MSCI Emg. Mkts. 0.64 58%

Technical Indicators
Recent close $39.11
30d moving avg. $40.65
Annualized volatility 16.5%
Short interest (ETF) 3.9%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.5%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $9,199

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the ProShares DJ Brookfield Global Infrastructure ETF ETF based on the alternatives' overlap in portfolio holdings with TOLZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: TOLZ Expense: 46 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH TOLZ
Ticker Fund
Name
Overlap1
vs TOLZ
(%)
Expense
ratio
(bp)
Savings
vs TOLZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs TOLZ
(%)
GLIF AGFiQ Global Infrastructure ETF 64.2 45 1 5.4 -0.2
IGF iShares Global Infrastructure ETF 33.6 46 0 5.5 -0.1
GII SPDR S&P Global Infrastructure ETF 33.5 40 6 5.5 +0.0
INFR Legg Mason Global Infrastructure ETF 30.5 40 6 6.3 +0.7
TPYP Tortoise North American Pipeline Fund 28.0 40 6 6.2 +0.7
ENFR Alerian Energy Infrastructure ETF 23.8 65 -19 5.4 -0.1
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 23.5 47 -1 6.5 +1.0
USAI Pacer American Energy Independence ETF 23.5 75 -29 2.9 -2.7
MLPX Global X MLP & Energy Infrastructure ETF 23.3 45 1 4.0 -1.5
JXI iShares Global Utilities ETF 22.6 46 0 6.0 +0.4
EMLP First Trust North American Energy Infrastructure Fund 21.6 96 -50 5.9 +0.3
FREL Fidelity MSCI Real Estate Index ETF 18.7 8 38 6.9 +1.4
SCHH Schwab U.S. REIT ETF 18.7 7 39 6.9 +1.3
IYR iShares U.S. Real Estate ETF 18.7 42 4 6.8 +1.2
PSR Invesco Active U.S. Real Estate Fund 18.7 35 11 6.5 +1.0
XLRE The Real Estate Select Sector SPDR Fund 18.7 13 33 5.8 +0.3
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 18.7 60 -14 2.6 -2.9
VNQ Vanguard REIT Index Fund 18.2 12 34 6.9 +1.3
FUTY Fidelity MSCI Utilities Index ETF 17.2 8 38 5.9 +0.3
VPU Vanguard Utilities Index Fund 17.2 10 36 5.9 +0.3
IDU iShares U.S. Utilities ETF 16.4 43 3 5.6 +0.1
JHMU John Hancock Multifactor Utilities ETF 15.3 40 6 6.1 +0.6
ECLN First Trust EIP Carbon Impact ETF 15.3 96 -50 3.8 -1.7
PUI Invesco DWA Utilities Momentum ETF 14.4 60 -14 4.8 -0.8
RYU Invesco S&P 500 Equal Weight Utilities ETF 13.8 40 6 6.3 +0.7
XLU Utilities Select Sector SPDR Fund 13.8 13 33 5.9 +0.4
YMLP VanEck Vectors High Income MLP ETF 13.6 45 1 5.6 +0.0
IXC iShares Global Energy ETF 13.1 46 0 6.1 +0.6
UTES Virtus Reaves Utilities ETF 13.0 49 -3 4.7 -0.9
FXU First Trust Utilities AlphaDEX Fund 12.5 63 -17 6.3 +0.8
IFRA iShares U.S. Infrastructure ETF 11.9 40 6 6.1 +0.6
FLCA Franklin FTSE Canada ETF 11.6 9 37 7.4 +1.8
ICF iShares Cohen & Steers REIT ETF 11.4 34 12 6.2 +0.7
QCAN SPDR MSCI Canada Quality Mix ETF 10.4 14 32 7.1 +1.6
BBCA JPMorgan BetaBuilders Canada ETF 10.3 19 27 7.1 +1.6
EWC iShares MSCI Canada ETF 10.1 49 -3 6.9 +1.4
PFI Invesco DWA Financial Momentum ETF 10.0 60 -14 3.7 -1.9
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 9.8 40 6 7.2 +1.7
CZA Invesco Zacks Mid-Cap ETF 9.7 76 -30 6.3 +0.8
SPYD SPDR S&P 500 High Dividend ETF 8.8 7 39 10.5 +5.0
YLDE ClearBridge Dividend Strategy ESG ETF 8.8 60 -14 5.0 -0.6
BIBL Inspire ETF 8.7 35 11 4.9 -0.6
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 8.7 30 16 9.9 +4.4
PID Invesco International Dividend Achievers ETF 7.9 54 -8 9.8 +4.2
JMIN JPMorgan U.S. Minimum Volatility ETF 7.7 12 34 5.9 +0.4
DWX SPDR S&P International Dividend ETF 7.2 45 1 8.1 +2.5
TPHD Timothy Plan High Dividend Stock ETF 7.0 52 -6 7.8 +2.3
DTN WisdomTree U.S. Dividend ex-Financials Fund 6.9 38 8 8.1 +2.5
LVHI Legg Mason International Low Volatility High Dividend ETF 6.9 40 6 9.3 +3.8
FENY Fidelity MSCI Energy Index ETF 6.8 8 38 4.5 -1.1
VDE Vanguard Energy Index Fund 6.8 10 36 4.1 -1.4
FXN First Trust Energy AlphaDEX Fund 6.6 65 -19 -0.8 -6.3
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 6.5 30 16 7.6 +2.0
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 6.5 45 1 10.0 +4.5
IGE iShares North American Natural Resources ETF 6.5 46 0 4.3 -1.3
IYE iShares U.S. Energy ETF 6.5 42 4 4.2 -1.3
JHME John Hancock Multifactor Energy ETF 6.5 40 6 4.0 -1.5
EUMV iShares Edge MSCI Min Vol Europe ETF 6.4 25 21 5.0 -0.5
GQRE FlexShares Global Quality Real Estate Index Fund 6.3 45 1 7.1 +1.6
DVY iShares Select Dividend ETF 6.2 39 7 9.7 +4.2
JKE iShares Morningstar Large-Cap Growth ETF 6.2 25 21 2.8 -2.7
AMLP The Alerian MLP ETF 6.2 87 -41 9.1 +3.6
MLPA Global X MLP ETF 6.2 46 0 9.0 +3.5
AMZA InfraCap MLP ETF 6.1 241 -195 9.7 +4.2
CGW Invesco S&P Global Water Index ETF 6.1 59 -13 4.4 -1.2
TBLU Tortoise Water Fund 6.0 40 6 5.0 -0.5
ZMLP Direxion Zacks MLP High Income Shares 6.0 81 -35 4.6 -1.0
FTXN First Trust Nasdaq Oil & Gas ETF 5.9 60 -14 2.3 -3.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 5.7 35 11 8.7 +3.2
FIVG Defiance Next Gen Connectivity ETF 5.7 30 16 4.9 -0.7
GURU Global X Guru Index ETF 5.6 75 -29 3.9 -1.7
JDIV JPMorgan U.S. Dividend ETF 5.6 12 34 8.0 +2.4
JKI iShares Morningstar Mid-Cap Value ETF 5.5 30 16 9.3 +3.8
NXTG First Trust Indxx NextG ETF 5.5 70 -24 6.1 +0.6
XLE Energy Select Sector SPDR Fund 5.2 13 33 4.7 -0.8
RYE Invesco S&P 500 Equal Weight Energy ETF 5.2 40 6 3.9 -1.7
VRAI Virtus Real Asset Income ETF 5.2 55 -9 11.6 +6.0
ABEQ Absolute Core Strategy ETF 5.2 85 -39 4.8 -0.8
PEY Invesco High Yield Equity Dividend Achievers ETF 5.2 53 -7 9.3 +3.8
PIO Invesco Global Water ETF 5.2 75 -29 4.0 -1.6
PXI Invesco DWA Energy Momentum ETF 5.1 60 -14 4.4 -1.1
NULV Nuveen ESG Large-Cap Value ETF 5.1 35 11 7.4 +1.9
FVD First Trust Value Line Dividend Index Fund 5.1 70 -24 6.4 +0.9
SPMV Invesco S&P 500 Minimum Variance ETF 5.1 10 36 5.9 +0.3
IDV iShares International Select Dividend ETF 5.1 49 -3 10.2 +4.7
FID First Trust S&P International Dividend Aristocrats ETF 5.0 60 -14 9.9 +4.4
EFAD ProShares MSCI EAFE Dividend Growers ETF 4.9 50 -4 6.2 +0.6
FDVV Fidelity Core Dividend ETF 4.9 29 17 7.2 +1.7
EFAV iShares Edge MSCI Min Vol EAFE ETF 4.9 20 26 5.5 -0.0
OEUR O'shares FTSE Europe Quality Dividend ETF 4.9 48 -2 6.6 +1.1
IYF iShares U.S. Financials ETF 4.8 42 4 7.2 +1.6
JPIN JPMorgan Diversified Return International Equity ETF 4.7 37 9 8.1 +2.6
DON WisdomTree U.S. MidCap Dividend Fund 4.7 38 8 7.8 +2.3
ACSI American Customer Satisfaction Core Alpha ETF 4.7 66 -20 5.8 +0.2
SPMO Invesco S&P 500 Momentum ETF 4.7 13 33 4.4 -1.2
NULC Nuveen ESG Large-Cap ETF 4.7 20 26 5.0 -0.5
PDP Invesco DWA Momentum ETF 4.6 62 -16 2.8 -2.8
WDIV SPDR Global Dividend ETF 4.6 40 6 9.9 +4.4
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 4.5 35 11 8.7 +3.2
LVHD Legg Mason Low Volatility High Dividend ETF 4.5 27 19 8.9 +3.4

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

  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:
ProShares DJ Brookfield Global Infrastructure ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.1 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 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.