VanEck India Growth Leaders ETF
ALTAR
Score™		 5.5% info Recommen-
dation		 UNDERWEIGHT
2025E    2026E
P/E
ratio		 17.5x P/Sales
ratio		 4.2x
P/BV
ratio		 3.3x Div.
yield		 2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
GLIN seeks to replicate the price and yield performance of the MarketGrader India All-Cap Growth Leaders Index, which consists of fundamentally sound Indian companies that exhibit attractive growth potential at a reasonable price.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Aug 25, 2010
Assets (mns) $96
Currency USD
Expense ratio 77 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 84
Wgt avg mkt cap (mns) $41,754
Large cap (>$10bn) 73.8%
Mid cap ($2-10bn) 24.2%
Small cap (<$2bn) 2.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
BSE LTD 6.9 %
TRENT LTD 4.7 %
BHARTI AIRTEL LIMITED 4.7 %
EICHER MOTORS LTD 4.5 %
HINDUSTAN AERONAUTICS LIMITED 4.4 %
BHARAT ELECTRONICS LIMITED 4.2 %
STATE BANK OF INDIA 4.1 %
POLYCAB INDIA LTD. 4.1 %
SUZLON ENERGY LIMITED 3.6 %
ALSTOM T&D INDIA LTD 3.5 %
Total 44.7 %

TOP COUNTRY EXPOSURE
INDIA 77.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.3% -2.2% 5.3% 2.4% -2.4%

Market Correlations
versus... Beta R-squared
S&P500 0.75 26%
MSCI EAFE 0.69 36%
MSCI Emg. Mkts. 0.55 40%

Technical Indicators
Recent close $44.17
30d moving avg. $44.97
Annualized volatility 17.0%
Short interest (ETF) 0.5%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.5%
Bid/Ask (% of price) 0.66%
ADV underlying (mns) $397

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 124 potential alternatives to the VanEck India Growth Leaders ETF ETF based on the alternatives' overlap in portfolio holdings with GLIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GLIN Expense: 77 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GLIN
Ticker Fund
Name		 Overlap1
vs GLIN
(%)		 Expense
ratio
(bp)		 Savings
vs GLIN
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GLIN
(%)
EPI WisdomTree India Earnings Fund 11.7 85 -8 5.2 -0.3
INDY iShares India 50 ETF 11.5 89 -12 5.4 -0.0
INDA iShares MSCI India ETF 11.0 65 12 4.7 -0.8
FLIN Franklin FTSE India ETF 10.9 19 58 4.2 -1.3
NFTY First Trust India NIFTY 50 Equal Weight ETF 9.8 80 -3 5.0 -0.5
NDIA Global X India Active ETF 8.8 75 2 5.3 -0.2
JIVE JPMorgan International Value ETF 8.5 55 22 8.4 +2.9
PIN Invesco India ETF 8.4 78 -1 4.8 -0.7
DGIN VanEck Digital India ETF 5.4 71 6 1.5 -4.0
SMIN iShares MSCI India Small Cap ETF 4.2 79 -2 3.5 -2.0
BKF iShares MSCI BIC ETF 3.4 69 8 14.9 +9.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.2 60 17 6.6 +1.1
XC WisdomTree Emerging Markets Ex-China Fund 3.2 32 45 6.6 +1.2
FDEM Fidelity Emerging Markets Multifactor ETF 3.1 25 52 10.4 +4.9
RNEM First Trust Emerging Markets Equity Select ETF 3.0 75 2 8.2 +2.8
JADE JPMorgan Active Developing Markets Equity ETF 3.0 65 12 6.1 +0.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.8 32 45 4.8 -0.6
DEHP Dimensional Emerging Markets High Profitability ETF 2.7 41 36 4.8 -0.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 2.7 95 -18 10.0 +4.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.6 40 37 6.3 +0.8
ROAM Hartford Multifactor Emerging Markets ETF 2.5 44 33 7.5 +2.0
EMMF WisdomTree Emerging Markets Multifactor Fund 2.5 48 29 8.4 +3.0
EMC Global X Emerging Markets Great Consumer ETF 2.4 75 2 7.1 +1.6
IPAV Global X Infrastructure Development ex-U.S. ETF 2.3 55 22 5.7 +0.3
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.3 45 32 9.7 +4.2
VEXC Vanguard Emerging Markets Ex-China ETF 2.3 7 70 5.7 +0.3
XCNY SPDR S&P Emerging Markets ex-China ETF 2.3 15 62 5.7 +0.2
ICLN iShares Global Clean Energy ETF 2.1 41 36 1.7 -3.8
EEMO Invesco S&P Emerging Markets Momentum ETF 2.1 29 48 6.6 +1.1
JHEM John Hancock Multifactor Emerging Markets ETF 2.0 49 28 7.5 +2.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.0 24 53 5.2 -0.2
EMGF iShares Emerging Markets Equity Factor ETF 1.9 25 52 8.8 +3.4
ECON Columbia Emerging Markets Consumer ETF 1.9 49 28 6.6 +1.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.8 45 32 8.1 +2.6
GMF SPDR S&P Emerging Asia Pacific ETF 1.8 49 28 8.6 +3.1
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.8 53 24 5.1 -0.4
XCEM Columbia EM Core ex-China ETF 1.7 16 61 4.9 -0.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.6 47 30 5.0 -0.5
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.6 25 52 6.2 +0.7
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.6 75 2 6.4 +0.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.6 30 47 7.6 +2.2
EEMA iShares MSCI Emerging Markets Asia ETF 1.6 49 28 7.5 +2.1
STXE Strive Emerging Markets Ex-China ETF 1.6 32 45 5.2 -0.3
FLAX Franklin FTSE Asia Ex Japan ETF 1.6 19 58 7.1 +1.7
EMXC iShares MSCI Emerging Markets ex China ETF 1.5 25 52 5.1 -0.4
VWO Vanguard FTSE Emerging Markets ETF 1.5 7 70 9.2 +3.7
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.5 15 62 8.0 +2.5
SCHE Schwab Emerging Markets Equity ETF 1.5 11 66 9.5 +4.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.4 32 45 7.4 +2.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.4 70 7 6.9 +1.4
AVES Avantis Emerging Markets Value ETF 1.4 36 41 8.9 +3.5
DFAE Dimensional Emerging Core Equity Market ETF 1.4 35 42 7.0 +1.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.4 38 39 7.0 +1.5
NUEM Nuveen ESG Emerging Markets Equity ETF 1.4 36 41 6.1 +0.6
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.4 41 36 6.9 +1.4
CGXU Capital Group International Focus Equity ETF 1.4 54 23 3.8 -1.7
AVSE Avantis Responsible Emerging Markets Equity ETF 1.3 33 44 6.6 +1.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.3 36 41 7.6 +2.2
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -11 8.4 +2.9
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.3 15 62 8.8 +3.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.3 66 11 7.2 +1.7
BKEM BNY Mellon Emerging Markets Equity ETF 1.3 11 66 7.9 +2.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.3 50 27 8.1 +2.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.3 30 47 8.0 +2.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.2 20 57 7.4 +1.9
EEM iShares MSCI Emerging Markets ETF 1.2 69 8 7.8 +2.4
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 1.2 69 8 7.4 +2.0
DFEV Dimensional Emerging Markets Value ETF 1.2 43 34 9.4 +4.0
EYLD Cambria Emerging Shareholder Yield ETF 1.2 66 11 9.2 +3.8
SPEM SPDR Portfolio Emerging Markets ETF 1.2 7 70 9.5 +4.0
IEMG iShares Core MSCI Emerging Markets ETF 1.2 9 68 8.2 +2.7
FEM First Trust Emerging Markets AlphaDEX Fund 1.1 80 -3 9.0 +3.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 1.1 33 44 6.1 +0.6
AVEM Avantis Emerging Markets Equity ETF 1.0 33 44 7.0 +1.6
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.0 70 7 6.5 +1.0
KNCT Invesco Next Gen Connectivity ETF 1.0 40 37 2.9 -2.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.0 33 44 6.7 +1.3
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.0 35 42 10.0 +4.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.0 59 18 8.6 +3.1
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.9 58 19 8.4 +3.0
EMXF iShares ESG Advanced MSCI EM ETF 0.8 16 61 6.7 +1.3
LDEM iShares ESG MSCI EM Leaders ETF 0.8 17 60 12.9 +7.4
PXH Invesco FTSE RAFI Emerging Markets ETF 0.7 49 28 13.4 +8.0
ACWV iShares MSCI Global Min Vol Factor ETF 0.7 20 57 5.7 +0.3
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 30 7.6 +2.1
MINV Matthews Asia Innovators Active ETF 0.6 79 -2 5.1 -0.3
ESGE iShares ESG Aware MSCI EM ETF 0.6 25 52 8.3 +2.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 28 4.5 -1.0
CGGO Capital Group Global Growth Equity ETF 0.6 47 30 4.1 -1.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.6 42 35 4.1 -1.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.6 39 38 13.7 +8.3
PICK iShares MSCI Global Metals & Mining Producers ETF 0.6 39 38 8.0 +2.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 47 6.4 +1.0
VSGX Vanguard ESG International Stock ETF 0.5 10 67 6.6 +1.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.5 18 59 6.4 +0.9
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.5 42 35 7.6 +2.1
SCHY Schwab International Dividend Equity ETF 0.4 14 63 8.5 +3.0
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 4 73 6.7 +1.3
VXUS Vanguard Total International Stock ETF 0.4 5 72 6.7 +1.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 36 6.0 +0.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 43 6.4 +0.9
FTAG First Trust Indxx Global Agriculture ETF 0.4 70 7 7.2 +1.8
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 47 6.5 +1.1
IXUS iShares Core MSCI Total International Stock ETF 0.4 7 70 6.6 +1.1
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 14 10.3 +4.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 65 4.4 -1.0
INQQ India Internet & Ecommerce ETF 0.3 86 -9 0.7 -4.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.3 44 33 9.5 +4.1
NXTG First Trust Indxx NextG ETF 0.3 70 7 3.4 -2.0
SETM Sprott Energy Transition Materials ETF 0.3 65 12 1.7 -3.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 57 4.7 -0.7
GLOF iShares Global Equity Factor ETF 0.2 20 57 5.6 +0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.2 47 30 7.2 +1.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 8 69 6.3 +0.9
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 59 0.0 -5.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 12 6.5 +1.0
VEGI iShares MSCI Agriculture Producers ETF 0.2 39 38 7.7 +2.2
VT Vanguard Total World Stock ETF 0.1 6 71 5.0 -0.5
ACWI iShares MSCI ACWI ETF 0.1 32 45 4.6 -0.8
IGRO iShares International Dividend Growth ETF 0.1 15 62 6.8 +1.3
VYMI Vanguard International High Dividend Yield ETF 0.1 17 60 8.1 +2.6
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 67 5.0 -0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 68 4.9 -0.6
DEW WisdomTree Global High Dividend Fund 0.0 58 19 7.2 +1.8

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 VanEck India Growth Leaders ETF
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 19.2 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 77 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.56 CATEGORY
AVERAGE		 1.53
 
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.