Global X MSCI Greece ETF
ALTAR
Score™		 8.2% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 12.5x P/Sales
ratio		 1.5x
P/BV
ratio		 1.7x Div.
yield		 2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Global X MSCI Greece ETF is an exchange traded fund incorporated in USA. The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Greece Select 25/50 Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Global X Management Co LLC
Website www.globalxfunds.com
Inception date Dec 07, 2011
Assets (mns) $325
Currency USD
Expense ratio 57 bp
Distributions Annually

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 32
Wgt avg mkt cap (mns) $6,829
Large cap (>$10bn) 12.3%
Mid cap ($2-10bn) 70.2%
Small cap (<$2bn) 12.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NATIONAL BANK OF GREECE S.A. 15.0 %
EUROBANK ERGASIAS SA 12.0 %
PIRAEUS BANK S.A. 11.2 %
ALPHA SERVICES A 6.6 %
PUBLIC POWER CORP 6.3 %
GEK TERNA HOLDING REAL ESTAT 4.7 %
MOTOR OIL (HELLAS) SA 4.6 %
METLEN ENERGY & METALS 4.4 %
HELLENIC TELECOMMUNICATIONS ORGANI 4.1 %
JUMBO SA 3.3 %
Total 72.2 %

TOP COUNTRY EXPOSURE
GREECE 95.2 %
BELGIUM 3.8 %
GERMANY 1.0 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
22.6% 36.4% 27.8% 16.8% 6.4%

Market Correlations
versus... Beta R-squared
S&P500 1.10 33%
MSCI EAFE 1.11 50%
MSCI Emg. Mkts. 0.65 41%

Technical Indicators
Recent close $82.75
30d moving avg. $76.63
Annualized volatility 19.6%
Short interest (ETF) 2.3%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 123
Turnover 3.1%
Bid/Ask (% of price) 0.72%
ADV underlying (mns) $62

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 116 potential alternatives to the Global X MSCI Greece ETF ETF based on the alternatives' overlap in portfolio holdings with GREK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GREK Expense: 57 bp ALTAR Score™: 8.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GREK
Ticker Fund
Name		 Overlap1
vs GREK
(%)		 Expense
ratio
(bp)		 Savings
vs GREK
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GREK
(%)
EYLD Cambria Emerging Shareholder Yield ETF 5.0 66 -9 9.0 +0.8
BETZ Roundhill Sports Betting & iGaming ETF 4.2 75 -18 3.4 -4.8
FEUZ First Trust Eurozone AlphaDEX ETF 4.0 80 -23 6.5 -1.8
FEP First Trust Europe AlphaDEX Fund 2.6 80 -23 6.7 -1.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.5 70 -13 9.2 +1.0
FTHF First Trust Emerging Markets Human Flourishing ETF 2.5 75 -18 5.8 -2.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.4 29 28 8.7 +0.5
CRAK VanEck Oil Refiners ETF 2.3 61 -4 8.2 -0.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.0 44 13 9.3 +1.0
AGQI First Trust Active Global Quality Income ETF 2.0 85 -28 6.1 -2.1
IDOG ALPS International Sector Dividend Dogs ETF 1.9 50 7 9.0 +0.8
OAIM OneAscent International Equity ETF 1.9 95 -38 4.5 -3.8
UIVM VictoryShares International Value Momentum ETF 1.8 35 22 7.7 -0.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.8 95 -38 9.7 +1.4
EDIV SPDR S&P Emerging Markets Dividend ETF 1.5 49 8 8.8 +0.6
PXJ Invesco Oil & Gas Services ETF 1.4 63 -6 2.8 -5.5
DIV Global X SuperDividend US ETF 1.4 45 12 9.4 +1.2
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.2 75 -18 6.3 -1.9
JADE JPMorgan Active Developing Markets Equity ETF 1.2 65 -8 5.9 -2.3
IPAV Global X Infrastructure Development ex-U.S. ETF 1.2 55 2 5.8 -2.4
FDEM Fidelity Emerging Markets Multifactor ETF 1.1 25 32 10.4 +2.1
RFDI First Trust Riverfront Dynamic Developed International ETF 1.1 83 -26 7.3 -1.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.1 70 -13 4.0 -4.3
EEMO Invesco S&P Emerging Markets Momentum ETF 1.1 29 28 6.8 -1.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.0 70 -13 6.6 -1.6
DVYE iShares Emerging Markets Dividend ETF 1.0 49 8 17.6 +9.4
EMM Global X Emerging Markets ex-China ETF 1.0 75 -18 4.7 -3.5
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 15 7.8 -0.4
EMC Global X Emerging Markets Great Consumer ETF 0.8 75 -18 7.1 -1.2
VEXC Vanguard Emerging Markets Ex-China ETF 0.8 7 50 5.6 -2.6
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.8 80 -23 6.9 -1.3
SDIV Global X Superdividend ETF 0.8 58 -1 13.6 +5.4
XCNY SPDR S&P Emerging Markets ex-China ETF 0.7 15 42 5.6 -2.6
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 10 7.3 -0.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 10 7.0 -1.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.7 33 24 6.1 -2.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.7 25 32 6.0 -2.2
BOAT SonicShares Global Shipping ETF 0.7 69 -12 20.0 +11.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.7 33 24 6.7 -1.5
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.7 53 4 5.1 -3.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.6 45 12 8.0 -0.2
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.6 88 -31 8.4 +0.2
EWX SPDR S&P Emerging Markets Small Cap ETF 0.6 65 -8 6.7 -1.5
LDEM iShares ESG MSCI EM Leaders ETF 0.6 17 40 12.5 +4.3
TTAI FCF International Quality ETF 0.6 59 -2 6.9 -1.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.6 30 27 7.5 -0.8
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.5 35 22 9.9 +1.7
VWO Vanguard FTSE Emerging Markets ETF 0.5 7 50 9.0 +0.8
STXE Strive Emerging Markets Ex-China ETF 0.5 32 25 5.2 -3.0
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.5 41 16 6.9 -1.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.5 80 -23 9.2 +1.0
BNGE First Trust S-Network Streaming and Gaming ETF 0.5 70 -13 3.0 -5.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.5 59 -2 8.5 +0.3
SCHE Schwab Emerging Markets Equity ETF 0.5 11 46 9.3 +1.0
AVSE Avantis Responsible Emerging Markets Equity ETF 0.5 33 24 6.6 -1.6
EMGF iShares Emerging Markets Equity Factor ETF 0.5 25 32 8.9 +0.7
DEHP Dimensional Emerging Markets High Profitability ETF 0.5 41 16 4.8 -3.4
EMXF iShares ESG Advanced MSCI EM ETF 0.5 16 41 6.6 -1.7
DFEV Dimensional Emerging Markets Value ETF 0.4 43 14 9.4 +1.2
ECON Columbia Emerging Markets Consumer ETF 0.4 49 8 6.6 -1.7
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.4 38 19 7.0 -1.2
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 22 7.0 -1.3
EMXC iShares MSCI Emerging Markets ex China ETF 0.4 25 32 5.1 -3.1
SPEM SPDR Portfolio Emerging Markets ETF 0.4 7 50 9.4 +1.1
AVEM Avantis Emerging Markets Equity ETF 0.4 33 24 7.0 -1.2
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 48 8.2 -0.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.3 39 18 13.3 +5.1
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 0.3 69 -12 7.6 -0.7
EEM iShares MSCI Emerging Markets ETF 0.3 69 -12 7.8 -0.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.3 24 33 5.2 -3.0
AVES Avantis Emerging Markets Value ETF 0.3 36 21 9.0 +0.8
BKEM BNY Mellon Emerging Markets Equity ETF 0.3 11 46 24.0 +15.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.3 66 -9 7.3 -0.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.3 15 42 8.0 -0.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 7 8.2 -0.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.3 36 21 7.5 -0.7
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.3 30 27 7.9 -0.3
VYMI Vanguard International High Dividend Yield ETF 0.3 17 40 7.7 -0.6
OBOR KraneShares MSCI One Belt One Road Index ETF 0.2 79 -22 7.3 -0.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.2 58 -1 3.5 -4.8
FLGB Franklin FTSE United Kingdom ETF 0.2 9 48 6.5 -1.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 16 5.8 -2.4
XCEM Columbia EM Core ex-China ETF 0.2 16 41 5.0 -3.3
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 27 6.3 -1.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 53 6.5 -1.7
GLOF iShares Global Equity Factor ETF 0.1 20 37 5.4 -2.8
VXUS Vanguard Total International Stock ETF 0.1 5 52 6.5 -1.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 42 8.8 +0.6
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 50 6.4 -1.8
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.1 24 33 6.8 -1.5
VSGX Vanguard ESG International Stock ETF 0.1 10 47 6.4 -1.8
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 39 6.2 -2.1
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 23 6.2 -2.0
ESGE iShares ESG Aware MSCI EM ETF 0.1 25 32 8.2 -0.0
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 27 6.3 -2.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 47 8.4 +0.2
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 37 5.6 -2.6
TRFK Pacer Data and Digital Revolution ETF 0.1 60 -3 1.8 -6.4
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 45 8.4 +0.2
PICK iShares MSCI Global Metals & Mining Producers ETF 0.1 39 18 8.1 -0.2
VT Vanguard Total World Stock ETF 0.1 6 51 4.9 -3.4
FLEE Franklin FTSE Europe ETF 0.0 9 48 6.1 -2.1
ACWI iShares MSCI ACWI ETF 0.0 32 25 4.5 -3.7
AQLT iShares MSCI Global Quality Factor ETF 0.0 18 39 0.0 -8.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 48 4.7 -3.5
HFXI IQ FTSE International Equity Currency Neutral ETF 0.0 20 37 5.5 -2.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 18 6.8 -1.4
IMFL Invesco International Developed Dynamic Multifactor ETF 0.0 34 23 5.1 -3.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 18 6.6 -1.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 8 49 6.3 -1.9
DFIS Dimensional International Small Cap ETF 0.0 39 18 6.0 -2.2
DXIV Dimensional International Vector Equity ETF 0.0 34 23 6.5 -1.8
DFAI Dimensional International Core Equity Market ETF 0.0 18 39 5.9 -2.4
DISV Dimensional International Small Cap Value ETF 0.0 42 15 7.9 -0.3
DFIC Dimensional International Core Equity 2 ETF 0.0 23 34 6.1 -2.1
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 33 5.5 -2.7

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

  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:		 Global X MSCI Greece 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 14.2 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 57 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.48 CATEGORY
AVERAGE		 1.52
 
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.