Vanguard FTSE Emerging Markets ETF
ALTAR
Score™
8.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.3x P/Sales
ratio
1.4x
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) $59,993
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 4128
Wgt avg mkt cap (mns) $115,673
Large cap (>$10bn) 65.8%
Mid cap ($2-10bn) 24.3%
Small cap (<$2bn) 8.8%
Developed mkts 8.8%
Emerging mkts 88.8%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 6.6 %
TENCENT HOLDINGS LTD 6.5 %
TAIWAN SEMICONDUCTOR MANUFAC 2.9 %
TAIWAN SEMICONDUCTOR-SP ADR 1.7 %
MEITUAN DIANPING 1.4 %
NASPERS LTD-N SHS 1.4 %
RELIANCE INDUSTRIES LTD 1.2 %
CHINA CONSTRUCTION BANK-H 1.2 %
PING AN INSURANCE GROUP CO-H 1.0 %
IND & COMM BK OF CHINA - H 0.8 %
Total 24.7 %

TOP COUNTRY EXPOSURE
CHINA 35.3 %
TAIWAN 15.0 %
INDIA 9.1 %
BRAZIL 5.8 %
HONG KONG 4.2 %
SOUTH AFRICA 3.9 %
RUSSIA 3.1 %
MALAYSIA 2.4 %
SAUDI ARABIA 2.2 %
MEXICO 2.0 %

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.
-10.4% -3.9% 2.1% 3.1% 6.4%

Market Correlations
versus... Beta R-squared
S&P500 0.88 63%
MSCI EAFE 1.04 78%
MSCI Emg. Mkts. 0.92 95%

Technical Indicators
Recent close $42.90
30d moving avg. $39.39
Annualized volatility 18.7%
Short interest (ETF) 0.3%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 13,517
Turnover 1.0%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $84,997

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 8.0%


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 79.0 11 -1 7.8 -0.2
IEMG iShares Core MSCI Emerging Markets ETF 75.2 13 -3 7.9 -0.1
EEM iShares MSCI Emerging Markets ETF 74.7 68 -58 7.4 -0.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 72.4 65 -55 7.4 -0.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 71.5 36 -26 8.1 +0.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 67.1 15 -5 8.6 +0.6
SPEM SPDR Portfolio Emerging Markets ETF 63.8 11 -1 7.8 -0.3
FLAX Franklin FTSE Asia Ex Japan ETF 61.4 19 -9 7.7 -0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 59.8 68 -58 7.0 -1.0
EEMA iShares MSCI Emerging Markets Asia ETF 58.7 50 -40 7.5 -0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 57.1 30 -20 7.8 -0.2
BKEM BNY Mellon Emerging Markets Equity ETF 56.7 11 -1 8.4 +0.3
GMF SPDR S&P Emerging Asia Pacific ETF 56.4 49 -39 7.2 -0.8
JHEM John Hancock Multifactor Emerging Markets ETF 54.5 49 -39 8.3 +0.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 52.7 45 -35 7.9 -0.2
BKF iShares MSCI BRIC ETF 51.1 69 -59 7.3 -0.7
ESGE iShares ESG MSCI EM ETF 49.5 25 -15 8.6 +0.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 48.9 32 -22 6.1 -1.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 48.3 59 -49 10.9 +2.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 45.5 20 -10 6.8 -1.2
AVEM Avantis Emerging Markets Equity ETF 45.3 33 -23 8.9 +0.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 43.8 30 -20 8.6 +0.6
PXH Invesco FTSE RAFI Emerging Markets ETF 43.3 50 -40 12.8 +4.8
FLCH Franklin FTSE China ETF 38.3 19 -9 7.9 -0.1
MCHI iShares MSCI China ETF 37.9 59 -49 7.5 -0.6
GXC SPDR S&P China ETF 37.6 59 -49 7.7 -0.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 35.9 39 -29 12.5 +4.5
CN Xtrackers MSCI All China Equity ETF 34.1 50 -40 7.7 -0.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 33.7 49 -39 8.6 +0.6
WCHN WisdomTree ICBCCS S&P China 500 Fund 33.5 55 -45 8.7 +0.6
DVEM WisdomTree Emerging Markets Dividend Fund 33.0 32 -22 8.2 +0.2
KALL KraneShares FTSE Emerging Markets Plus ETF 32.9 49 -39 7.8 -0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 32.6 44 -34 8.8 +0.8
NUEM Nuveen ESG Emerging Markets Equity ETF 32.3 45 -35 7.2 -0.8
ISEM Invesco Strategic Emerging Markets ETF 32.2 35 -25 10.0 +2.0
EMXC iShares MSCI Emerging Markets ex China ETF 31.4 25 -15 8.3 +0.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 31.0 95 -85 9.1 +1.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 29.4 49 -39 7.9 -0.1
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 27.8 50 -40 10.1 +2.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 27.4 40 -30 7.1 -0.9
EMCG WisdomTree Emerging Markets Consumer Growth Fund 26.8 32 -22 7.5 -0.5
CHIL Global X MSCI China Large-Cap 50 ETF 26.3 29 -19 7.9 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 26.2 16 -6 6.9 -1.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 25.9 25 -15 7.6 -0.5
RNEM Emerging Markets Equity Select ETF 25.5 75 -65 10.2 +2.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 25.4 32 -22 8.8 +0.8
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 25.3 64 -54 4.7 -3.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 25.1 32 -22 6.0 -2.1
VSGX Vanguard ESG International Stock ETF 23.5 17 -7 7.2 -0.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 23.3 40 -30 7.0 -1.0
VEU Vanguard FTSE All-World ex-US Index Fund 23.0 8 2 7.5 -0.5
IXUS ishares Core MSCI Total International Stock ETF 22.7 9 1 7.3 -0.7
VXUS Vanguard Total International Stock Index Fund 22.6 8 2 7.5 -0.5
VYMI Vanguard International High Dividend Yield ETF 21.9 32 -22 10.0 +2.0
ACWX iShares MSCI ACWI ex U.S. ETF 21.7 32 -22 7.2 -0.8
AXJL WisdomTree Asia Pacific ex-Japan Fund 21.4 48 -38 9.7 +1.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 21.4 45 -35 9.4 +1.4
EMMF WisdomTree Emerging Markets Multifactor Fund 21.1 48 -38 9.3 +1.3
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 20.4 45 -35 9.1 +1.0
CWI SPDR MSCI ACWI ex-US ETF 20.3 30 -20 7.1 -0.9
ROAM Hartford Multifactor Emerging Markets ETF 20.2 44 -34 14.4 +6.4
ECON Columbia Emerging Markets Consumer ETF 20.0 59 -49 4.4 -3.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 19.8 86 -76 2.1 -5.9
AIA iShares Asia 50 ETF 19.3 50 -40 7.9 -0.1
EEMO Invesco S&P Emerging Markets Momentum ETF 19.3 29 -19 6.6 -1.4
KWEB KraneShares CSI China Internet ETF 18.6 76 -66 1.7 -6.3
FDNI First Trust Dow Jones International Internet ETF 18.5 65 -55 2.2 -5.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 17.5 29 -19 9.6 +1.6
FXI iShares China Large-Cap ETF 17.1 74 -64 11.8 +3.8
TTTN UP Fintech China-U.S. Internet Titans ETF 16.9 59 -49 4.1 -3.9
PIE Invesco DWA Emerging Markets Momentum ETF 16.1 90 -80 5.1 -2.9
JOYY Infusive Compounding Global Equities ETF 15.6 50 -40 3.7 -4.3
OGIG O'Shares Global Internet Giants ETF 14.5 48 -38 0.7 -7.3
DEM WisdomTree Emerging Markets High Dividend Fund 14.2 63 -53 13.6 +5.6
VIGI Vanguard International Dividend Appreciation ETF 14.0 25 -15 5.5 -2.5
BICK First Trust BICK Index Fund 14.0 64 -54 4.7 -3.4
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.7 45 -35 13.2 +5.2
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 13.4 20 -10 10.9 +2.9
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 12.8 18 -8 5.6 -2.4
XCEM Columbia EM Core ex-China ETF 12.0 16 -6 7.3 -0.7
CHIQ Global X China Consumer ETF 11.8 65 -55 7.2 -0.8
DINT Davis Select International ETF 11.4 68 -58 5.7 -2.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.1 60 -50 8.2 +0.2
FNI First Trust Chindia ETF 11.0 60 -50 2.7 -5.3
PGJ Invesco Golden Dragon China ETF 10.9 70 -60 3.1 -4.9
GBUY Goldman Sachs Motif New Age Consumer ETF 10.8 50 -40 1.9 -6.2
EWT iShares MSCI Taiwan ETF 10.7 59 -49 5.8 -2.2
FLTW Franklin FTSE Taiwan ETF 10.5 19 -9 6.3 -1.8
CQQQ Invesco China Technology ETF 10.2 70 -60 3.7 -4.4
DWLD Davis Select Worldwide ETF 9.9 63 -53 6.4 -1.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 9.8 20 -10 6.1 -2.0
VT Vanguard Total World Stock Index Fund 9.7 8 2 6.1 -1.9
LOWC SPDR MSCI ACWI Low Carbon Target ETF 9.7 20 -10 6.0 -2.0
BUYZ Franklin Disruptive Commerce ETF 9.5 50 -40 -0.2 -8.2
EMFM Global X MSCI Next Emerging & Frontier ETF 9.5 66 -56 8.9 +0.9
ACWI iShares MSCI ACWI ETF 9.5 32 -22 5.8 -2.2
FEM First Trust Emerging Markets AlphaDEX Fund 9.4 80 -70 10.9 +2.9
PNQI Invesco NASDAQ Internet ETF 9.2 62 -52 1.1 -7.0
CHIC Global X Nasdaq China Technology ETF 9.1 66 -56 3.6 -4.4
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 9.1 80 -70 3.8 -4.2

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 8.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 CATEGORY
AVERAGE
1.45
 
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.