Global X MSCI Greece ETF
ALTAR
Score™		 8.4% 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) $332
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 33
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. 15.3 %
EUROBANK ERGASIAS SA 11.9 %
PIRAEUS BANK S.A. 11.6 %
ALPHA SERVICES A 7.1 %
PUBLIC POWER CORP 4.7 %
MOTOR OIL (HELLAS) SA 4.6 %
GEK TERNA HOLDING REAL ESTAT 4.4 %
METLEN ENERGY & METALS 4.4 %
JUMBO SA 3.8 %
HELLENIC TELECOMMUNICATIONS ORGANI 3.7 %
Total 71.4 %

TOP COUNTRY EXPOSURE
GREECE 95.4 %
BELGIUM 3.3 %
GERMANY 1.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
31.0% 36.9% 30.2% 18.1% 6.8%

Market Correlations
versus... Beta R-squared
S&P500 1.10 33%
MSCI EAFE 1.12 51%
MSCI Emg. Mkts. 0.62 40%

Technical Indicators
Recent close $82.47
30d moving avg. $78.80
Annualized volatility 19.6%
Short interest (ETF) 4.1%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 44
Turnover 1.1%
Bid/Ask (% of price) 0.85%
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™: 8.4%


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
(%)
FEUZ First Trust Eurozone AlphaDEX ETF 4.4 80 -23 7.0 -1.4
BETZ Roundhill Sports Betting & iGaming ETF 3.8 75 -18 4.2 -4.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 3.0 70 -13 9.9 +1.5
FEP First Trust Europe AlphaDEX Fund 2.9 80 -23 7.2 -1.2
CRAK VanEck Oil Refiners ETF 2.6 61 -4 6.9 -1.5
FTHF First Trust Emerging Markets Human Flourishing ETF 2.6 75 -18 5.4 -3.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.4 29 28 9.2 +0.7
AGQI First Trust Active Global Quality Income ETF 2.2 85 -28 6.5 -1.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.0 44 13 9.7 +1.3
OAIM OneAscent International Equity ETF 1.9 95 -38 4.4 -4.0
IDOG ALPS International Sector Dividend Dogs ETF 1.8 50 7 9.6 +1.2
UIVM VictoryShares International Value Momentum ETF 1.8 35 22 8.1 -0.3
PXJ Invesco Oil & Gas Services ETF 1.4 63 -6 2.7 -5.8
DIV Global X SuperDividend US ETF 1.4 45 12 9.9 +1.5
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.3 75 -18 6.2 -2.2
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.3 70 -13 4.3 -4.1
EDIV SPDR S&P Emerging Markets Dividend ETF 1.3 49 8 9.4 +1.0
IPAV Global X Infrastructure Development ex-U.S. ETF 1.2 55 2 6.2 -2.2
JADE JPMorgan Active Developing Markets Equity ETF 1.2 65 -8 5.9 -2.5
FDEM Fidelity Emerging Markets Multifactor ETF 1.1 25 32 10.5 +2.1
EEMO Invesco S&P Emerging Markets Momentum ETF 1.1 29 28 6.2 -2.2
EMM Global X Emerging Markets ex-China ETF 1.1 75 -18 4.6 -3.8
DVYE iShares Emerging Markets Dividend ETF 1.0 49 8 17.8 +9.4
ICPY Tweedy, Browne International Insider Value ETF 1.0 80 -23 20.9 +12.5
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.9 80 -23 6.8 -1.6
EMC Global X Emerging Markets Great Consumer ETF 0.9 75 -18 7.1 -1.3
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.9 70 -13 6.4 -2.0
VEXC Vanguard Emerging Markets Ex-China ETF 0.9 7 50 5.6 -2.8
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 15 7.6 -0.8
XCNY SPDR S&P Emerging Markets ex-China ETF 0.8 15 42 5.6 -2.9
SDIV Global X Superdividend ETF 0.8 58 -1 14.6 +6.2
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 10 7.5 -0.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 10 7.2 -1.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.7 33 24 5.9 -2.5
LDEM iShares ESG MSCI EM Leaders ETF 0.7 17 40 12.9 +4.5
COPY Tweedy, Browne Insider + Value ETF 0.7 80 -23 14.7 +6.3
BOAT SonicShares Global Shipping ETF 0.7 69 -12 16.8 +8.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.7 25 32 6.0 -2.4
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.7 33 24 6.7 -1.7
EWX SPDR S&P Emerging Markets Small Cap ETF 0.7 65 -8 6.7 -1.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.6 45 12 8.0 -0.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.6 88 -31 8.5 +0.1
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.6 35 22 10.0 +1.6
VWO Vanguard FTSE Emerging Markets ETF 0.6 7 50 9.3 +0.8
STXE Strive Emerging Markets Ex-China ETF 0.6 32 25 5.1 -3.3
DWX SPDR S&P International Dividend ETF 0.6 45 12 7.0 -1.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 16 6.8 -1.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.6 30 27 7.4 -1.0
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.5 53 4 4.9 -3.5
SCHE Schwab Emerging Markets Equity ETF 0.5 11 46 9.5 +1.1
DEHP Dimensional Emerging Markets High Profitability ETF 0.5 41 16 4.8 -3.6
EMGF iShares Emerging Markets Equity Factor ETF 0.5 25 32 8.8 +0.4
BNGE First Trust S-Network Streaming and Gaming ETF 0.5 70 -13 3.2 -5.2
EMXC iShares MSCI Emerging Markets ex China ETF 0.5 25 32 4.9 -3.5
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.5 80 -23 8.7 +0.2
EMXF iShares ESG Advanced MSCI EM ETF 0.5 16 41 6.6 -1.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.5 59 -2 8.4 +0.0
DFEV Dimensional Emerging Markets Value ETF 0.5 43 14 9.1 +0.7
AVSE Avantis Responsible Emerging Markets Equity ETF 0.5 33 24 6.5 -1.9
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 19 6.9 -1.5
IEMG iShares Core MSCI Emerging Markets ETF 0.5 9 48 8.1 -0.3
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 22 6.9 -1.5
ECON Columbia Emerging Markets Consumer ETF 0.4 49 8 6.4 -2.0
SPEM SPDR Portfolio Emerging Markets ETF 0.4 7 50 9.5 +1.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 18 13.4 +5.0
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 0.4 69 -12 7.6 -0.8
EEM iShares MSCI Emerging Markets ETF 0.4 69 -12 7.7 -0.7
AVEM Avantis Emerging Markets Equity ETF 0.4 33 24 6.9 -1.5
ESGE iShares ESG Aware MSCI EM ETF 0.4 25 32 8.1 -0.4
JIVE JPMorgan International Value ETF 0.4 55 2 8.1 -0.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.4 30 27 7.9 -0.6
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.3 24 33 5.0 -3.4
AVES Avantis Emerging Markets Value ETF 0.3 36 21 9.0 +0.6
BKEM BNY Mellon Emerging Markets Equity ETF 0.3 11 46 24.1 +15.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.3 66 -9 7.3 -1.1
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.3 15 42 8.0 -0.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 7 7.9 -0.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.3 36 21 7.5 -0.9
VYMI Vanguard International High Dividend Yield ETF 0.3 17 40 8.0 -0.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.2 58 -1 3.6 -4.8
OBOR KraneShares MSCI One Belt One Road Index ETF 0.2 79 -22 7.3 -1.1
FLGB Franklin FTSE United Kingdom ETF 0.2 9 48 6.9 -1.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 27 6.4 -2.0
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 53 6.7 -1.7
GLOF iShares Global Equity Factor ETF 0.2 20 37 5.5 -2.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 16 5.9 -2.5
XCEM Columbia EM Core ex-China ETF 0.2 16 41 4.8 -3.6
VXUS Vanguard Total International Stock ETF 0.2 5 52 6.6 -1.8
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 50 6.6 -1.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 42 8.9 +0.5
VSGX Vanguard ESG International Stock ETF 0.1 10 47 6.6 -1.8
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 23 6.4 -2.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.1 24 33 7.1 -1.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 39 6.4 -2.0
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 27 6.4 -2.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 47 9.3 +0.9
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 45 9.3 +0.9
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 37 5.8 -2.7
TRFK Pacer Data and Digital Revolution ETF 0.1 60 -3 1.8 -6.6
VT Vanguard Total World Stock ETF 0.1 6 51 5.0 -3.4
ACWI iShares MSCI ACWI ETF 0.0 32 25 4.6 -3.8
PICK iShares MSCI Global Metals & Mining Producers ETF 0.0 39 18 8.3 -0.1
FLEE Franklin FTSE Europe ETF 0.0 9 48 6.6 -1.9
AQLT iShares MSCI Global Quality Factor ETF 0.0 18 39 0.0 -8.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 48 4.8 -3.6
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 18 7.0 -1.4
HFXI IQ FTSE International Equity Currency Neutral ETF 0.0 20 37 5.6 -2.8
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 18 6.7 -1.7
IMFL Invesco International Developed Dynamic Multifactor ETF 0.0 34 23 5.3 -3.1
DFIS Dimensional International Small Cap ETF 0.0 39 18 6.2 -2.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 8 49 6.4 -2.0
DXIV Dimensional International Vector Equity ETF 0.0 34 23 6.7 -1.8
DFIC Dimensional International Core Equity 2 ETF 0.0 23 34 6.3 -2.1
DFAI Dimensional International Core Equity Market ETF 0.0 18 39 6.1 -2.3
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 33 5.7 -2.7
DISV Dimensional International Small Cap Value ETF 0.0 42 15 8.0 -0.5

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

  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 8.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.48 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.