Vanguard FTSE Emerging Markets ETF
ALTAR
Score™
8.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.3x P/Sales
ratio
1.3x
P/BV
ratio
1.6x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard FTSE Emerging Markets ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the FTSE Emerging Markets All Cap China A Inclusion Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Vanguard
Website www.vanguard.com
Inception date Mar 04, 2005
Assets (mns) $60,461
Currency USD
Expense ratio 10 bp
Distributions Quarterly

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 4118
Wgt avg mkt cap (mns) $143,399
Large cap (>$10bn) 66.4%
Mid cap ($2-10bn) 22.8%
Small cap (<$2bn) 8.1%
Developed mkts 9.1%
Emerging mkts 87.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.8 %
TENCENT HOLDINGS LTD 6.0 %
TAIWAN SEMICONDUCTOR MANUFAC 3.8 %
TAIWAN SEMICONDUCTOR-SP ADR 2.0 %
MEITUAN DIANPING 1.8 %
RELIANCE INDUSTRIES LTD 1.5 %
NASPERS LTD-N SHS 1.2 %
JD.COM INC-ADR 1.0 %
CHINA CONSTRUCTION BANK-H 1.0 %
PING AN INSURANCE GROUP CO-H 0.9 %
Total 26.9 %

TOP COUNTRY EXPOSURE
CHINA 37.7 %
TAIWAN 15.6 %
INDIA 9.7 %
BRAZIL 5.1 %
HONG KONG 3.8 %
SOUTH AFRICA 3.7 %
SAUDI ARABIA 3.0 %
RUSSIA 2.6 %
MALAYSIA 2.2 %
MEXICO 1.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.2% 10.5% 8.3% 2.3% 7.0%

Market Correlations
versus... Beta R-squared
S&P500 0.86 64%
MSCI EAFE 1.04 77%
MSCI Emg. Mkts. 0.92 95%

Technical Indicators
Recent close $43.24
30d moving avg. $43.83
Annualized volatility 19.1%
Short interest (ETF) 0.6%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 11,524
Turnover 0.8%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $23,926

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Vanguard FTSE Emerging Markets ETF ETF based on the alternatives' overlap in portfolio holdings with VWO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VWO Expense: 10 bp ALTAR Score™: 8.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VWO
Ticker Fund
Name
Overlap1
vs VWO
(%)
Expense
ratio
(bp)
Savings
vs VWO
(bp)
ALTAR
Score™
(%)
ALTAR
vs VWO
(%)
SCHE Schwab Emerging Markets Equity ETF 79.7 11 -1 8.1 -0.1
IEMG iShares Core MSCI Emerging Markets ETF 74.7 13 -3 8.1 -0.1
EEM iShares MSCI Emerging Markets ETF 74.6 68 -58 7.6 -0.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 71.9 65 -55 7.6 -0.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 68.0 36 -26 7.5 -0.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 67.2 15 -5 8.7 +0.5
SPEM SPDR Portfolio Emerging Markets ETF 65.5 11 -1 8.0 -0.2
FLAX Franklin FTSE Asia Ex Japan ETF 63.2 19 -9 7.8 -0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 60.8 68 -58 7.2 -1.0
EEMA iShares MSCI Emerging Markets Asia ETF 59.7 50 -40 8.0 -0.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 58.8 30 -20 7.9 -0.3
GMF SPDR S&P Emerging Asia Pacific ETF 56.5 49 -39 7.3 -0.9
JHEM John Hancock Multifactor Emerging Markets ETF 55.0 49 -39 9.0 +0.8
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 52.5 45 -35 7.7 -0.5
BKF iShares MSCI BRIC ETF 51.7 69 -59 7.7 -0.5
BKEM BNY Mellon Emerging Markets Equity ETF 51.0 11 -1 8.4 +0.3
ESGE iShares ESG MSCI EM ETF 50.5 25 -15 8.8 +0.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 48.3 32 -22 5.9 -2.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 47.6 59 -49 11.3 +3.1
AVEM Avantis Emerging Markets Equity ETF 46.1 33 -23 9.1 +0.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 46.0 20 -10 6.9 -1.3
PXH Invesco FTSE RAFI Emerging Markets ETF 44.4 50 -40 13.7 +5.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 43.1 30 -20 9.0 +0.8
FLCH Franklin FTSE China ETF 39.6 19 -9 8.5 +0.3
MCHI iShares MSCI China ETF 38.9 59 -49 7.9 -0.3
GXC SPDR S&P China ETF 38.8 59 -49 8.0 -0.2
DVEM WisdomTree Emerging Markets Dividend Fund 36.7 32 -22 7.4 -0.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 36.6 39 -29 13.8 +5.6
NUEM Nuveen ESG Emerging Markets Equity ETF 35.1 45 -35 7.1 -1.1
CN Xtrackers MSCI All China Equity ETF 34.7 50 -40 8.3 +0.1
KALL KraneShares FTSE Emerging Markets Plus ETF 34.2 49 -39 8.2 +0.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 34.2 49 -39 8.1 -0.1
ISEM Invesco Strategic Emerging Markets ETF 33.5 35 -25 10.9 +2.7
EEMO Invesco S&P Emerging Markets Momentum ETF 33.1 29 -19 4.1 -4.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 32.2 40 -30 7.4 -0.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 32.1 44 -34 9.3 +1.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 30.8 95 -85 8.2 +0.1
EMXC iShares MSCI Emerging Markets ex China ETF 30.2 25 -15 8.3 +0.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 30.0 45 -35 8.7 +0.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 28.7 50 -40 10.2 +2.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 28.5 49 -39 7.9 -0.3
CHIL Global X MSCI China Large-Cap 50 ETF 27.1 29 -19 7.9 -0.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 26.9 32 -22 5.8 -2.4
VSGX Vanguard ESG International Stock ETF 26.7 17 -7 7.1 -1.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 26.5 25 -15 8.1 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 26.1 16 -6 6.9 -1.3
VYMI Vanguard International High Dividend Yield ETF 25.5 27 -17 10.2 +2.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 24.8 32 -22 9.3 +1.1
EMMF WisdomTree Emerging Markets Multifactor Fund 24.0 48 -38 9.7 +1.6
VEU Vanguard FTSE All-World ex-US Index Fund 23.3 8 2 7.6 -0.6
RNEM Emerging Markets Equity Select ETF 23.3 75 -65 12.0 +3.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 23.3 40 -30 7.1 -1.1
IXUS ishares Core MSCI Total International Stock ETF 22.5 9 1 7.4 -0.8
VXUS Vanguard Total International Stock Index Fund 22.4 8 2 7.6 -0.6
ACWX iShares MSCI ACWI ex U.S. ETF 21.5 32 -22 7.3 -0.9
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 21.5 45 -35 9.3 +1.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 21.0 86 -76 2.3 -5.9
CWI SPDR MSCI ACWI ex-US ETF 20.1 30 -20 7.3 -0.9
ECON Columbia Emerging Markets Consumer ETF 20.0 59 -49 5.0 -3.2
KWEB KraneShares CSI China Internet ETF 19.9 76 -66 2.1 -6.1
FDNI First Trust Dow Jones International Internet ETF 19.6 65 -55 2.1 -6.1
ROAM Hartford Multifactor Emerging Markets ETF 19.4 44 -34 13.4 +5.2
AIA iShares Asia 50 ETF 19.3 50 -40 8.1 -0.1
TTTN UP Fintech China-U.S. Internet Titans ETF 18.2 59 -49 4.4 -3.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.4 29 -19 10.1 +1.9
PIE Invesco DWA Emerging Markets Momentum ETF 16.1 90 -80 5.2 -3.0
FXI iShares China Large-Cap ETF 16.1 74 -64 13.9 +5.7
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 14.8 18 -8 5.2 -3.0
CHIQ Global X China Consumer ETF 14.1 65 -55 7.2 -1.0
OGIG O'Shares Global Internet Giants ETF 13.9 48 -38 0.6 -7.6
VIGI Vanguard International Dividend Appreciation ETF 13.6 20 -10 5.6 -2.6
BICK First Trust BICK Index Fund 13.2 64 -54 4.9 -3.3
PEK VanEck Vectors ChinaAMC CSI 300 ETF 13.2 60 -50 4.0 -4.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 12.8 45 -35 14.8 +6.6
DINT Davis Select International ETF 12.6 68 -58 6.0 -2.2
PGJ Invesco Golden Dragon China ETF 12.5 70 -60 3.5 -4.7
FNI First Trust Chindia ETF 12.4 60 -50 2.6 -5.6
DEM WisdomTree Emerging Markets High Dividend Fund 12.2 63 -53 15.4 +7.2
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 12.1 20 -10 11.6 +3.4
XCEM Columbia EM Core ex-China ETF 12.0 16 -6 7.3 -0.9
GBUY Goldman Sachs Motif New Age Consumer ETF 11.5 50 -40 1.8 -6.4
FLTW Franklin FTSE Taiwan ETF 11.1 19 -9 6.3 -1.9
DWLD Davis Select Worldwide ETF 11.0 63 -53 6.7 -1.5
EWT iShares MSCI Taiwan ETF 10.9 59 -49 6.2 -2.0
WUGI Esoterica NextG Economy ETF 10.9 75 -65 1.6 -6.6
PNQI Invesco NASDAQ Internet ETF 10.6 60 -50 1.0 -7.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.5 60 -50 9.1 +0.9
JOYY Infusive Compounding Global Equities ETF 10.2 50 -40 5.0 -3.2
BUYZ Franklin Disruptive Commerce ETF 10.0 50 -40 -0.2 -8.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 9.7 20 -10 6.3 -1.9
VT Vanguard Total World Stock Index Fund 9.6 8 2 6.3 -1.9
CQQQ Invesco China Technology ETF 9.5 70 -60 6.4 -1.8
LOWC SPDR MSCI ACWI Low Carbon Target ETF 9.5 20 -10 6.3 -1.9
GIGE SoFi Gig Economy ETF 9.4 59 -49 -0.7 -8.9
EMFM Global X MSCI Next Emerging & Frontier ETF 9.4 66 -56 9.2 +1.0
ACWI iShares MSCI ACWI ETF 9.3 32 -22 6.0 -2.2
FLIN Franklin FTSE India ETF 9.1 19 -9 5.7 -2.5
EPI WisdomTree India Earnings Fund 8.9 84 -74 8.7 +0.5
FEM First Trust Emerging Markets AlphaDEX Fund 8.8 80 -70 13.9 +5.7

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:
Vanguard FTSE Emerging Markets 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 12.3 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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