VanEck Vectors Vietnam ETF
ALTAR
Score™
4.2% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
18.6x P/Sales
ratio
1.4x
P/BV
ratio
2.2x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Vietnam ETF is an exchange traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible the price and yield performance of the VanEck Vectors Vietnam Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Aug 14, 2009
Assets (mns) $461
Currency USD
Expense ratio 68 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $3,498
Large cap (>$10bn) 20.5%
Mid cap ($2-10bn) 44.5%
Small cap (<$2bn) 35.0%
Developed mkts 13.2%
Emerging mkts 86.8%

TOP TEN HOLDINGS
VINGROUP JSC 7.5 %
VIET NAM DAIRY PRODUCTS JSC 7.0 %
JSC BANK FOR FOREIGN TRADE 6.6 %
NO VA LAND INVESTMENT GROUP CO. 5.8 %
VINCOM RETAIL JSC 5.3 %
MANI, INC. 5.0 %
MASAN GROUP CORP 4.4 %
ECLAT TEXTILE COMPANY LTD 4.3 %
HOA PHAT GROUP JSC 3.7 %
BAOVIET HOLDINGS 3.1 %
Total 52.7 %

TOP COUNTRY EXPOSURE
VIETNAM 48.9 %
SOUTH KOREA 5.7 %
JAPAN 5.0 %
TAIWAN 4.3 %
BRITAIN 2.5 %
HONG KONG 1.3 %





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.
10.0% 7.7% -3.4% -3.7% -3.2%

Market Correlations
versus... Beta R-squared
S&P500 0.67 25%
MSCI EAFE 0.88 37%
MSCI Emg. Mkts. 0.78 47%

Technical Indicators
Recent close $16.54
30d moving avg. $16.28
Annualized volatility 16.2%
Short interest (ETF) 2.8%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 184
Turnover 0.7%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $59

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the VanEck Vectors Vietnam ETF ETF based on the alternatives' overlap in portfolio holdings with VNM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VNM Expense: 68 bp ALTAR Score™: 4.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VNM
Ticker Fund
Name
Overlap1
vs VNM
(%)
Expense
ratio
(bp)
Savings
vs VNM
(bp)
ALTAR
Score™
(%)
ALTAR
vs VNM
(%)
FM iShares MSCI Frontier 100 9.5 81 -13 9.3 +5.1
FRN Invesco Frontier Markets 6.9 70 -2 11.5 +7.4
EMFM Global X MSCI Next Emerging & Frontier 5.6 55 13 7.8 +3.6
EWT iShares MSCI Taiwan 0.5 59 9 6.7 +2.5
EMMF WisdomTree Emerging Markets Multifactor Fund 0.5 48 20 10.0 +5.8
FLTW Franklin FTSE Taiwan 0.5 19 49 7.0 +2.8
ISCF iShares FactorSelect MSCI Intl Small-Cap 0.3 40 28 7.0 +2.9
KLDW Gavekal Knowledge Leaders Developed World 0.3 75 -7 5.3 +1.1
MXDE Nationwide Maximum Diversification Emg Mkts Core 0.3 64 4 5.5 +1.3
DGRE WisdomTree Emg Mkt Dividend Growth 0.3 32 36 9.1 +4.9
SCJ iShares MSCI Japan Small Cap 0.2 47 21 6.3 +2.1
CEZ Victory CEMP Emerging Market Volatility Weighted 0.2 50 18 9.1 +4.9
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 0.2 45 23 8.8 +4.6
QEMM SPDR MSCI Emerging Markets Quality Mix 0.1 30 38 9.3 +5.1
DLS WisdomTree Int'l SmallCap Dividend 0.1 58 10 8.4 +4.2
DFE WisdomTree Europe Small Cap Dividend 0.1 58 10 9.2 +5.0
GMF SPDR S&P Emerging Asia Pacific 0.1 49 19 8.1 +4.0
DXJS WisdomTree Japan Hedged Small 0.1 58 10 7.9 +3.7
DFJ WisdomTree Japan Small Cap Dividend 0.1 58 10 8.0 +3.8
DNL WisdomTree Global Ex-U.S. Growth 0.1 58 10 7.8 +3.6

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

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:
VanEck Vectors Vietnam ETF
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 9.6 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 4.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.76 CATEGORY
AVERAGE
1.49
 
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.