Vanguard FTSE Emerging Markets ETF
ALTAR
Score™
10.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
10.4x P/Sales
ratio
1.0x
P/BV
ratio
1.2x Div.
yield
4.1%


  • 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 10, 2005
Assets (mns) $47,698
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 4173
Wgt avg mkt cap (mns) $205,694,000,000,000
Large cap (>$10bn) 63.9%
Mid cap ($2-10bn) 25.2%
Small cap (<$2bn) 10.1%
Developed mkts 8.7%
Emerging mkts 89.1%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.0 %
TENCENT HOLDINGS LTD 5.9 %
TAIWAN SEMICONDUCTOR MANUFAC 2.9 %
TAIWAN SEMICONDUCTOR-SP ADR 1.8 %
CHINA CONSTRUCTION BANK-H 1.6 %
NASPERS LTD-N SHS 1.3 %
IND & COMM BK OF CHINA - H 1.1 %
PING AN INSURANCE GROUP CO-H 1.1 %
RELIANCE INDUSTRIES LTD 1.0 %
MEITUAN DIANPING 0.9 %
Total 24.5 %

TOP COUNTRY EXPOSURE
CHINA 36.1 %
TAIWAN 14.8 %
INDIA 8.7 %
BRAZIL 5.4 %
HONG KONG 4.7 %
SOUTH AFRICA 3.9 %
RUSSIA 3.2 %
MALAYSIA 2.5 %
THAILAND 2.2 %
MEXICO 2.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.4% -18.4% -1.2% 0.3% 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.92 63%
MSCI EAFE 1.02 75%
MSCI Emg. Mkts. 0.96 96%

Technical Indicators
Recent close $32.36
30d moving avg. $36.72
Annualized volatility 17.7%
Short interest (ETF) 1.5%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 40,668
Turnover 2.8%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $97,267

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™: 10.8%


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 78.1 13 -3 10.7 -0.1
IEMG iShares Core MSCI Emerging Markets ETF 73.5 14 -4 10.9 +0.1
EEM iShares MSCI Emerging Markets ETF 73.1 68 -58 10.4 -0.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 69.5 65 -55 10.3 -0.5
PBEE Invesco PureBeta FTSE Emerging Markets ETF 67.7 14 -4 11.7 +0.9
SPEM SPDR Portfolio Emerging Markets ETF 63.3 11 -1 10.5 -0.3
FLAX Franklin FTSE Asia Ex Japan ETF 61.0 19 -9 10.3 -0.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 59.0 68 -58 9.8 -1.0
EEMA iShares MSCI Emerging Markets Asia ETF 59.0 50 -40 10.3 -0.5
GMF SPDR S&P Emerging Asia Pacific ETF 57.2 49 -39 9.7 -1.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 55.9 30 -20 10.6 -0.2
JHEM John Hancock Multifactor Emerging Markets ETF 55.6 55 -45 11.3 +0.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 51.6 45 -35 10.7 -0.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 50.2 59 -49 13.5 +2.7
BKF iShares MSCI BRIC ETF 50.1 69 -59 10.4 -0.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 47.5 32 -22 8.7 -2.1
AVEM Avantis Emerging Markets Equity ETF 45.1 33 -23 12.1 +1.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 44.5 30 -20 11.3 +0.5
PXH Invesco FTSE RAFI Emerging Markets ETF 43.9 50 -40 16.4 +5.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 43.3 20 -10 9.4 -1.4
ESGE iShares ESG MSCI EM ETF 42.9 25 -15 11.9 +1.1
FLCH Franklin FTSE China ETF 38.8 19 -9 10.6 -0.2
GXC SPDR S&P China ETF 38.4 59 -49 10.3 -0.5
MCHI iShares MSCI China ETF 37.9 59 -49 10.5 -0.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 37.4 39 -29 15.7 +4.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 34.9 45 -35 10.9 +0.1
DVEM WisdomTree Emerging Markets Dividend Fund 34.7 32 -22 11.3 +0.5
WCHN WisdomTree ICBCCS S&P China 500 Fund 34.2 55 -45 10.0 -0.8
KALL KraneShares FTSE Emerging Markets Plus ETF 34.1 49 -39 10.3 -0.5
CN Xtrackers MSCI All China Equity ETF 34.1 50 -40 10.6 -0.2
ISEM Invesco Strategic Emerging Markets ETF 33.3 35 -25 12.2 +1.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 33.3 95 -85 12.7 +1.9
NUEM Nuveen ESG Emerging Markets Equity ETF 31.8 45 -35 9.6 -1.2
EMXC iShares MSCI Emerging Markets ex China ETF 30.6 49 -39 10.8 +0.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 29.1 49 -39 10.6 -0.1
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 29.1 50 -40 13.0 +2.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 28.8 49 -39 11.9 +1.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 28.4 40 -30 9.3 -1.5
CHIL Global X MSCI China Large-Cap 50 ETF 26.9 29 -19 10.8 +0.0
EMCG WisdomTree Emerging Markets Consumer Growth Fund 26.1 32 -22 9.5 -1.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 25.8 32 -22 11.8 +1.0
RNEM Emerging Markets Equity Select ETF 24.2 75 -65 11.9 +1.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 23.9 16 -6 8.9 -1.9
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 23.8 25 -15 10.1 -0.7
CXSE WisdomTree China ex-State-Owned Enterprises Fund 23.7 32 -22 8.3 -2.5
FDEM Fidelity Targeted Emerging Markets Factor ETF 23.1 45 -35 12.1 +1.3
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 22.8 64 -54 8.1 -2.7
AXJL WisdomTree Asia Pacific ex-Japan Fund 22.3 48 -38 11.4 +0.6
VSGX Vanguard ESG International Stock ETF 22.3 17 -7 9.3 -1.5
VEU Vanguard FTSE All-World ex-US Index Fund 22.3 8 2 9.8 -1.0
ROAM Hartford Multifactor Emerging Markets ETF 22.2 44 -34 18.5 +7.7
VYMI Vanguard International High Dividend Yield ETF 22.1 32 -22 12.6 +1.8
EMMF WisdomTree Emerging Markets Multifactor Fund 22.0 48 -38 12.3 +1.5
VXUS Vanguard Total International Stock Index Fund 22.0 8 2 9.8 -1.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 21.6 40 -30 9.2 -1.6
IXUS ishares Core MSCI Total International Stock ETF 21.2 9 1 9.7 -1.1
ACWX iShares MSCI ACWI ex U.S. ETF 20.4 32 -22 9.6 -1.2
AIA iShares Asia 50 ETF 19.4 50 -40 10.4 -0.4
CWI SPDR MSCI ACWI ex-US ETF 18.8 30 -20 9.5 -1.3
ECON Columbia Emerging Markets Consumer ETF 18.7 59 -49 5.9 -4.9
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 18.3 45 -35 12.2 +1.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 18.1 86 -76 3.5 -7.3
FXI iShares China Large-Cap ETF 17.8 74 -64 15.1 +4.3
FDNI First Trust Dow Jones International Internet ETF 17.4 65 -55 4.2 -6.6
KWEB KraneShares CSI China Internet ETF 17.0 76 -66 4.5 -6.3
DEM WisdomTree Emerging Markets High Dividend Fund 16.9 63 -53 17.3 +6.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.1 29 -19 12.8 +2.0
TTTN UP Fintech China-U.S. Internet Titans ETF 16.0 59 -49 6.5 -4.3
BICK First Trust BICK Index Fund 15.1 64 -54 6.6 -4.2
JOYY Infusive Compounding Global Equities ETF 14.9 50 -40 5.2 -5.6
OGIG O'Shares Global Internet Giants ETF 14.1 48 -38 1.1 -9.7
PIE Invesco DWA Emerging Markets Momentum ETF 13.6 90 -80 7.1 -3.7
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 13.1 20 -10 12.8 +2.0
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 12.9 18 -8 7.6 -3.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 12.7 45 -35 16.7 +6.0
VIGI Vanguard International Dividend Appreciation ETF 12.5 25 -15 7.3 -3.5
EEMO Invesco S&P Emerging Markets Momentum ETF 12.3 30 -20 12.7 +1.9
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 12.3 80 -70 2.3 -8.5
BUYZ Franklin Disruptive Commerce ETF 11.8 50 -40 0.3 -10.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.8 60 -50 10.4 -0.4
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 11.4 51 -41 13.6 +2.8
DINT Davis Select International ETF 11.1 75 -65 8.0 -2.8
CHIQ Global X China Consumer ETF 11.1 65 -55 12.0 +1.2
XCEM Columbia EM Core ex-China ETF 11.0 16 -6 9.8 -1.0
FNI First Trust Chindia ETF 11.0 59 -49 4.7 -6.1
GBUY Goldman Sachs Motif New Age Consumer ETF 11.0 50 -40 3.7 -7.0
PGJ Invesco Golden Dragon China ETF 10.9 70 -60 4.5 -6.3
EWT iShares MSCI Taiwan ETF 10.5 59 -49 7.9 -2.9
DWLD Davis Select Worldwide ETF 10.4 64 -54 8.9 -1.9
FLTW Franklin FTSE Taiwan ETF 10.4 19 -9 8.3 -2.5
FEM First Trust Emerging Markets AlphaDEX Fund 10.4 80 -70 15.1 +4.3
EMFM Global X MSCI Next Emerging & Frontier ETF 9.6 55 -45 10.6 -0.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 9.6 20 -10 8.3 -2.5
EDIV SPDR S&P Emerging Markets Dividend ETF 9.6 49 -39 13.8 +3.1
VT Vanguard Total World Stock Index Fund 9.4 8 2 8.2 -2.5
LOWC SPDR MSCI ACWI Low Carbon Target ETF 9.4 20 -10 8.3 -2.5
PNQI Invesco NASDAQ Internet ETF 9.4 62 -52 3.2 -7.6
ACWF iShares FactorSelect MSCI Global ETF 9.3 35 -25 10.3 -0.5
DEW WisdomTree Global High Dividend Fund 9.0 58 -48 11.7 +0.9
CQQQ Invesco China Technology ETF 9.0 70 -60 5.3 -5.5

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 12.6 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 10.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 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.