Columbia EM Core ex-China
ALTAR
Score™
7.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
14.8x P/Sales
ratio
1.2x
P/BV
ratio
1.6x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Columbia EM Core ex-China ETF& provides broad equity exposure to emerging markets excluding China

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Columbia
Website www.columbiathreadneedleetf.com
Inception date Sep 02, 2015
Assets (mns) $14
Currency USD
Expense ratio 16 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $53,426
Large cap (>$10bn) 69.2%
Mid cap ($2-10bn) 24.6%
Small cap (<$2bn) 2.2%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 6.0 %
SAMSUNG ELECTRONICS CO LTD 5.4 %
HDFC BANK LTD-ADR 4.3 %
ICICI BANK LTD-SPON ADR 3.7 %
OIL COMPANY LUKOIL PJSC SPONSORED 2.8 %
INFOSYS TECHNOLOGIES-SP ADR 2.8 %
BTS GROUP HOLDINGS PCL-NVDR 2.2 %
PETROBRAS - PETROLEO BRAS-PR 2.0 %
BANK CENTRAL ASIA PT 1.9 %
HYNIX SEMICONDUCTOR INC 1.8 %
Total 33.0 %

TOP COUNTRY EXPOSURE
TAIWAN 21.5 %
SOUTH KOREA 15.0 %
INDIA 13.7 %
BRAZIL 13.3 %
SOUTH AFRICA 6.6 %
RUSSIA 5.9 %
THAILAND 5.3 %
MALAYSIA 3.9 %
INDONESIA 3.7 %
MEXICO 2.4 %

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.
13.2% 14.2% -- -- 15.7%

Market Correlations
versus... Beta R-squared
S&P500 0.68 39%
MSCI EAFE 0.97 66%
MSCI Emg. Mkts. 0.86 82%

Technical Indicators
Recent close $27.00
30d moving avg. $26.65
Annualized volatility 13.4%
Short interest (ETF) 4.3%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 5
Turnover 1.0%
Bid/Ask (% of price) 0.62%
ADV underlying (mns) $2,914

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Columbia EM Core ex-China ETF based on the alternatives' overlap in portfolio holdings with XCEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XCEM Expense: 16 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XCEM
Ticker Fund
Name
Overlap1
vs XCEM
(%)
Expense
ratio
(bp)
Savings
vs XCEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs XCEM
(%)
KEMX KraneShares MSCI Emerging Markets EX China Index 37.9 49 -33 8.8 +1.0
EMXC iShares MSCI Emerging Markets ex China 32.8 49 -33 8.8 +1.0
JHEM John Hancock Multifactor Emerging Markets 26.7 55 -39 8.9 +1.2
DVEM WisdomTree Emerging Markets Dividend 26.0 32 -16 11.4 +3.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity 25.6 49 -33 9.1 +1.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 25.6 30 -14 8.7 +0.9
AIA iShares S&P Asia 50 24.6 50 -34 9.6 +1.9
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 22.9 45 -29 9.3 +1.5
AXJL WisdomTree Asia Pacific Ex-Japan 22.9 48 -32 9.2 +1.5
BICK First Trust BICK Index Fund 22.9 64 -48 6.2 -1.5
DBEM Xtrackers MSCI Emg. Mkts. Hedged 22.7 65 -49 8.6 +0.8
FRDM Freedom 100 Emerging Markets ETF 22.6 49 -33 8.2 +0.5
XSOE WisdomTree Emg Mkt ex-SOE 22.5 32 -16 7.0 -0.7
EEM iShares MSCI Emerging Markets 22.3 67 -51 8.7 +0.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity 22.2 20 -4 8.3 +0.6
EEMA iShares MSCI Emg Mkts Asia 22.1 50 -34 8.8 +1.1
EMEM Virtus Glovista Emerging Markets 21.8 67 -51 9.4 +1.7
QEMM SPDR MSCI Emerging Markets Quality Mix 21.2 30 -14 9.3 +1.6
ESGE iShares MSCI EM ESG Optimized 21.1 25 -9 9.4 +1.7
PBEE Invesco PureBeta FTSE Emerging Markets 20.9 14 2 9.4 +1.6

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

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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:
Columbia EM Core ex-China
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.0 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 16 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 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.