Global X Infrastructure Development ex-U.S. ETF
ALTAR
Score™		 6.5% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 18.1x P/Sales
ratio		 0.9x
P/BV
ratio		 1.4x Div.
yield		 2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating

FUND BASICS
Category Global Equities
Fund Sponsor Global X
Website www.globalxetfs.com/ipav
Inception date Aug 27, 2024
Assets (mns) $5
Currency USD
Expense ratio 55 bp
Distributions

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $24,188
Large cap (>$10bn) 68.0%
Mid cap ($2-10bn) 27.6%
Small cap (<$2bn) 4.1%
Developed mkts 63.9%
Emerging mkts 35.6%

TOP TEN HOLDINGS
ARCELORMITTAL SA 3.1 %
SHIN-ETSU CHEMICAL CO LTD 3.1 %
GRUPO FERROVIAL 3.1 %
HOLCIM LTD-REG 3.1 %
CANADIAN PACIFIC KANSAS CITY LTD 3.1 %
HEIDELBERGCEMENT AG 3.1 %
CEMEX SAB-SPONS ADR PART CER 3.1 %
PRYSMIAN SPA 3.1 %
CANADIAN NATL RAILWAY CO 3.0 %
VINCI SA 3.0 %
Total 30.7 %

TOP COUNTRY EXPOSURE
INDIA 19.1 %
JAPAN 14.1 %
CANADA 8.1 %
SPAIN 7.9 %
FRANCE 6.7 %
ITALY 5.9 %
SOUTH KOREA 5.6 %
CHINA 3.8 %
SWEDEN 3.7 %
LUXEMBOURG 3.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
27.0% 21.8% -- -- 13.9%

Market Correlations
versus... Beta R-squared
S&P500 0.37 17%
MSCI EAFE 0.28 9%
MSCI Emg. Mkts. 0.19 4%

Technical Indicators
Recent close $29.14
30d moving avg. $28.72
Annualized volatility 10.3%
Short interest (ETF) 3.2%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.46%
ADV underlying (mns) $1,343

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 398 potential alternatives to the Global X Infrastructure Development ex-U.S. ETF ETF based on the alternatives' overlap in portfolio holdings with IPAV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IPAV Expense: 55 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IPAV
Ticker Fund
Name		 Overlap1
vs IPAV
(%)		 Expense
ratio
(bp)		 Savings
vs IPAV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IPAV
(%)
PICK iShares MSCI Global Metals & Mining Producers ETF 9.2 39 16 10.6 +4.0
MXI iShares Global Materials ETF 8.1 41 14 7.2 +0.7
FEP First Trust Europe AlphaDEX Fund 8.0 80 -25 7.9 +1.4
NFTY First Trust India NIFTY 50 Equal Weight ETF 7.8 80 -25 4.8 -1.7
FEUZ First Trust Eurozone AlphaDEX ETF 7.7 80 -25 7.5 +0.9
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 7.4 47 8 5.8 -0.7
JHID John Hancock International High Dividend ETF 7.3 46 9 9.2 +2.6
SUPL ProShares Supply Chain Logistics ETF 6.9 58 -3 10.2 +3.7
FLIN Franklin FTSE India ETF 6.9 19 36 3.9 -2.6
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.8 46 9 5.7 -0.9
EWP iShares MSCI Spain ETF 6.8 50 5 6.7 +0.1
PIN Invesco India ETF 6.4 78 -23 4.6 -1.9
ITOL Tema International Durable Quality ETF 6.3 60 -5 5.7 -0.8
OAIM OneAscent International Equity ETF 6.3 95 -40 5.4 -1.2
INDY iShares India 50 ETF 6.1 89 -34 5.0 -1.6
NDIA Global X India Active ETF 6.1 75 -20 5.3 -1.2
BLLD JPMorgan Sustainable Infrastructure ETF 6.1 49 6 5.9 -0.6
SHPP Pacer Industrials and Logistics ETF 6.1 60 -5 8.3 +1.8
EPI WisdomTree India Earnings Fund 6.0 85 -30 4.8 -1.7
FLCA Franklin FTSE Canada ETF 5.9 9 46 6.2 -0.3
INDA iShares MSCI India ETF 5.8 65 -10 4.5 -2.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.8 42 13 6.5 +0.0
BBCA JPMorgan BetaBuilders Canada ETF 5.5 19 36 6.1 -0.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 5.5 58 -3 4.4 -2.1
BKCI BNY Mellon Concentrated International ETF 5.4 80 -25 5.1 -1.5
FIDI Fidelity International High Dividend ETF 5.4 18 37 8.0 +1.5
IVAL Alpha Architect International Quantitative Value ETF 5.3 49 6 10.0 +3.4
DXJ WisdomTree Japan Hedged Equity Fund 5.2 48 7 6.6 +0.1
SRVR Pacer Data & Infrastructure Real Estate ETF 5.1 55 0 4.7 -1.9
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.0 58 -3 8.4 +1.9
IMOM Alpha Architect International Quantitative Momentum ETF 4.9 49 6 4.7 -1.8
UIVM VictoryShares International Value Momentum ETF 4.9 35 20 8.4 +1.9
WTRE WisdomTree New Economy Real Estate Fund 4.8 58 -3 7.1 +0.6
AIVI WisdomTree International AI Enhanced Value Fund 4.8 58 -3 6.7 +0.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.8 9 46 8.9 +2.4
OSEA Harbor International Compounders ETF 4.8 55 0 4.8 -1.7
TEMP JPMorgan Climate Change Solutions ETF 4.7 49 6 5.8 -0.7
RNEM First Trust Emerging Markets Equity Select ETF 4.7 75 -20 8.4 +1.9
JIG JPMorgan International Growth ETF 4.6 55 0 4.7 -1.9
HEDJ WisdomTree Europe Hedged Equity Fund 4.6 58 -3 6.4 -0.1
AVES Avantis Emerging Markets Value ETF 4.5 36 19 10.5 +4.0
IQRA IQ CBRE Real Assets ETF 4.5 65 -10 5.7 -0.8
AVIV Avantis International Large Cap Value ETF 4.5 25 30 8.3 +1.7
BINV Brandes International ETF 4.4 70 -15 9.3 +2.7
EWQ iShares MSCI France ETF 4.4 53 2 6.8 +0.3
VCLN Virtus Duff & Phelps Clean Energy ETF 4.3 59 -4 3.9 -2.6
DSTX Distillate International Fundamental Stability & Value ETF 4.3 55 0 7.6 +1.0
TPIF Timothy Plan International ETF 4.2 62 -7 6.0 -0.5
ICOW Pacer Developed Markets International Cash Cows 100 ETF 4.1 65 -10 10.6 +4.1
PBD Invesco Global Clean Energy ETF 4.1 75 -20 0.8 -5.7
POW VistaShares Electrification Supercycle ETF 4.1 75 -20 3.4 -3.1
EWI iShares MSCI Italy ETF 4.1 50 5 10.8 +4.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 4.0 24 31 7.1 +0.6
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.0 80 -25 8.4 +1.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.0 58 -3 6.8 +0.3
OTGL OTG Latin America ETF 3.9 269 -214 8.5 +2.0
IQDG WisdomTree International Quality Dividend Growth Fund 3.9 42 13 6.9 +0.4
TOLL Tema Durable Quality ETF 3.9 75 -20 5.1 -1.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 3.8 29 26 7.4 +0.9
FRNW Fidelity Clean Energy ETF 3.8 39 16 2.3 -4.2
LVHI Franklin International Low Volatility High Dividend Index ET 3.8 40 15 10.1 +3.6
DFIV Dimensional International Value ETF 3.7 27 28 8.9 +2.4
CGIE Capital Group International Equity ETF 3.7 54 1 4.9 -1.6
JHMD John Hancock Multifactor Developed International ETF 3.6 39 16 7.1 +0.6
NXTG First Trust Indxx NextG ETF 3.6 70 -15 4.8 -1.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.6 45 10 6.8 +0.2
KNO AXS Knowledge Leaders ETF 3.6 78 -23 5.6 -0.9
FIVA Fidelity International Value Factor ETF 3.5 18 37 9.1 +2.6
FBOT Fidelity Disruptive Automation ETF 3.5 50 5 3.3 -3.2
FLKR Franklin FTSE South Korea ETF 3.5 9 46 7.0 +0.5
AVDV Avantis International Small Cap Value ETF 3.5 36 19 8.6 +2.1
INTF iShares International Equity Factor ETF 3.5 15 40 7.3 +0.8
IEUS iShares MSCI Europe Small-Cap ETF 3.4 42 13 7.3 +0.8
AVDE Avantis International Equity ETF 3.3 23 32 7.0 +0.5
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.2 65 -10 4.6 -2.0
DFEV Dimensional Emerging Markets Value ETF 3.2 43 12 11.7 +5.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 3.2 25 30 7.1 +0.6
UEVM VictoryShares Emerging Markets Value Momentum ETF 3.1 45 10 10.0 +3.5
EZU iShares MSCI Eurozone ETF 3.1 52 3 6.4 -0.1
BBJP JPMorgan BetaBuilders Japan ETF 3.1 19 36 6.0 -0.5
FPAG FPA Global Equity ETF 3.1 49 6 5.6 -1.0
FSZ First Trust Switzerland AlphaDEX Fund 3.1 80 -25 6.4 -0.2
FAN First Trust Global Wind Energy ETF 3.1 60 -5 4.3 -2.3
NETZ TCW Transform Systems ETF 3.1 75 -20 2.5 -4.0
ASLV Allspring Special Large Value ETF 3.1 35 20 6.5 -0.0
JPIN J.P. Morgan Diversified Return International Equity ETF 3.0 37 18 7.8 +1.2
JPXN iShares JPX-Nikkei 400 ETF 3.0 48 7 6.1 -0.4
PPIE Putnam PanAgora ESG International Equity ETF 3.0 49 6 7.2 +0.6
SCHY Schwab International Dividend Equity ETF 3.0 14 41 9.6 +3.1
FENI Fidelity Enhanced International ETF 3.0 28 27 6.2 -0.4
CIL VictoryShares International Volatility Wtd ETF 3.0 45 10 6.4 -0.1
FNDF Schwab Fundamental International Large Co. Index ETF 3.0 25 30 8.9 +2.4
VIDI Vident International Equity Strategy ETF 2.9 61 -6 10.3 +3.8
QINT American Century Quality Diversified International ETF 2.9 39 16 6.8 +0.3
FLJP Franklin FTSE Japan ETF 2.9 9 46 5.7 -0.8
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.9 47 8 5.6 -0.9
IVLU iShares MSCI Intl Value Factor ETF 2.9 30 25 9.6 +3.1
UMMA Wahed Dow Jones Islamic World ETF 2.9 65 -10 4.7 -1.8
FLJH Franklin FTSE Japan Hedged ETF 2.9 9 46 5.7 -0.8
XC WisdomTree Emerging Markets Ex-China Fund 2.8 32 23 5.7 -0.8
EXI iShares Global Industrials ETF 2.8 42 13 4.4 -2.2
DMXF iShares ESG Advanced MSCI EAFE ETF 2.8 12 43 5.4 -1.2
DTH WisdomTree International High Dividend Fund 2.8 58 -3 8.0 +1.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.8 50 5 10.2 +3.7
FEM First Trust Emerging Markets AlphaDEX Fund 2.7 80 -25 11.4 +4.9
DOL WisdomTree International LargeCap Dividend Fund 2.7 48 7 6.8 +0.2
EWL iShares MSCI Switzerland ETF 2.7 50 5 6.0 -0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.7 39 16 7.5 +1.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.7 40 15 7.0 +0.5
DWM WisdomTree International Equity Fund 2.7 48 7 6.9 +0.4
FCA First Trust China AlphaDEX Fund 2.7 80 -25 9.4 +2.9
DFIS Dimensional International Small Cap ETF 2.7 39 16 7.0 +0.5
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -3 7.2 +0.7
DXIV Dimensional International Vector Equity ETF 2.7 34 21 7.4 +0.9
EFG iShares MSCI EAFE Growth ETF 2.7 36 19 4.1 -2.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.6 45 10 8.3 +1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.6 25 30 6.9 +0.4
GCOW Pacer Global Cash Cows Dividend ETF 2.6 60 -5 10.4 +3.9
DFIC Dimensional International Core Equity 2 ETF 2.6 23 32 7.1 +0.6
AVEM Avantis Emerging Markets Equity ETF 2.6 33 22 8.1 +1.6
EWJV iShares MSCI Japan Value ETF 2.6 15 40 7.8 +1.3
TMFG Motley Fool Global Opportunities ETF 2.5 85 -30 4.0 -2.5
FDCF Fidelity Disruptive Communications ETF 2.5 50 5 3.9 -2.7
BKIE BNY Mellon International Equity ETF 2.5 4 51 6.6 +0.1
FLSW Franklin FTSE Switzerland ETF 2.5 9 46 6.1 -0.4
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.5 33 22 7.9 +1.4
JHEM John Hancock Multifactor Emerging Markets ETF 2.5 49 6 9.4 +2.9
GKAT Scharf Global Opportunity ETF 2.5 57 -2 6.4 -0.1
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 30 6.5 +0.0
FJP First Trust Japan AlphaDEX Fund 2.5 80 -25 7.9 +1.4
DISV Dimensional International Small Cap Value ETF 2.5 42 13 8.9 +2.4
SCZ iShares MSCI EAFE Small-Cap ETF 2.5 40 15 6.8 +0.3
CCNR ALPS CoreCommodity Natural Resources ETF 2.4 39 16 8.3 +1.7
SCHC Schwab International Small-Cap Equity ETF 2.4 11 44 7.3 +0.8
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 2.4 25 30 6.1 -0.4
EWJ iShares MSCI Japan ETF 2.4 50 5 5.5 -1.1
IMFL Invesco International Developed Dynamic Multifactor ETF 2.4 34 21 5.8 -0.7
DFAI Dimensional International Core Equity Market ETF 2.4 18 37 6.7 +0.2
STXI Strive International Developed Markets ETF 2.4 29 26 6.3 -0.2
RGEF Rockefeller Global Equity ETF 2.4 55 0 4.6 -2.0
DIVI Franklin International Core Dividend Tilt Index ETF 2.4 9 46 7.5 +1.0
RODE Hartford Multifactor Diversified International ETF 2.3 29 26 10.3 +3.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 25 7.4 +0.9
SPEU SPDR Portfolio Europe ETF 2.3 7 48 7.1 +0.6
IEUR iShares Core MSCI Europe ETF 2.3 11 44 7.1 +0.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.3 39 16 15.5 +9.0
HFXI IQ FTSE International Equity Currency Neutral ETF 2.3 20 35 6.6 +0.0
VGK Vanguard FTSE Europe ETF 2.3 6 49 7.2 +0.7
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 31 6.8 +0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.3 32 23 8.5 +2.0
WWJD Inspire International ETF 2.3 80 -25 7.1 +0.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.3 18 37 7.3 +0.8
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.2 80 -25 4.2 -2.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.2 32 23 6.3 -0.2
DLS WisdomTree International SmallCap Dividend Fund 2.2 58 -3 7.9 +1.4
FLAX Franklin FTSE Asia Ex Japan ETF 2.2 19 36 8.4 +1.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.2 41 14 7.1 +0.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 2.2 46 9 6.5 0.0
EWC iShares MSCI Canada ETF 2.2 50 5 5.8 -0.7
AVDS Avantis International Small Cap Equity ETF 2.2 30 25 6.6 +0.1
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.2 35 20 6.2 -0.3
ARKX ARK Space Exploration & Innovation ETF 2.2 75 -20 0.2 -6.3
IEV iShares Europe ETF 2.1 67 -12 6.6 +0.0
SPDW SPDR Portfolio Developed World ex-US ETF 2.1 3 52 6.6 +0.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 6 6.8 +0.2
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 46 7.0 +0.4
FLEE Franklin FTSE Europe ETF 2.1 9 46 7.0 +0.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.1 24 31 7.3 +0.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.1 36 19 6.3 -0.2
GSID Goldman Sachs MarketBeta International Equity ETF 2.1 20 35 6.5 -0.1
GLIN VanEck India Growth Leaders ETF 2.1 77 -22 5.5 -1.0
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 2.1 20 35 6.1 -0.4
VEA Vanguard FTSE Developed Markets ETF 2.1 3 52 6.8 +0.3
FICS First Trust International Developed Capital Strength ETF 2.1 70 -15 7.3 +0.8
IEFA iShares Core MSCI EAFE ETF 2.1 7 48 6.7 +0.2
IDEV iShares Core MSCI International Developed Markets ETF 2.1 4 51 6.7 +0.1
FNDC Schwab Fundamental International Small Co. Index ETF 2.1 39 16 5.7 -0.9
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 6 14.9 +8.3
EWD iShares MSCI Sweden ETF 2.0 54 1 5.2 -1.4
SCHF Schwab International Equity ETF 2.0 6 49 6.8 +0.3
EWY iShares MSCI South Korea ETF 2.0 58 -3 6.4 -0.1
VWID Virtus WMC International Dividend ETF 2.0 49 6 8.0 +1.4
AVSD Avantis Responsible International Equity ETF 2.0 23 32 5.1 -1.4
DGT State Street SPDR Global Dow ETF 2.0 50 5 6.6 +0.1
OEFA ALPS O’Shares International Developed Quality Dividend ETF 2.0 48 7 5.3 -1.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.0 14 41 5.9 -0.6
EFA iShares MSCI EAFE ETF 2.0 35 20 6.4 -0.2
BKF iShares MSCI BIC ETF 2.0 69 -14 13.1 +6.6
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.0 12 43 5.7 -0.8
STXE Strive Emerging Markets Ex-China ETF 2.0 32 23 7.4 +0.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.0 39 16 6.4 -0.1
ROAM Hartford Multifactor Emerging Markets ETF 1.9 44 11 11.2 +4.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.9 53 2 7.2 +0.7
XCNY SPDR S&P Emerging Markets ex-China ETF 1.9 15 40 7.2 +0.6
BKEM BNY Mellon Emerging Markets Equity ETF 1.9 11 44 9.2 +2.7
VXUS Vanguard Total International Stock ETF 1.9 5 50 7.6 +1.1
VEU Vanguard FTSE All-World ex-US Index Fund 1.9 4 51 7.6 +1.1
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.9 35 20 12.5 +6.0
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.9 15 40 9.5 +3.0
ECON Columbia Emerging Markets Consumer ETF 1.9 49 6 11.5 +5.0
IBAT iShares Energy Storage & Materials ETF 1.9 47 8 2.6 -4.0
ICPY Tweedy, Browne International Insider Value ETF 1.9 80 -25 11.4 +4.9
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 48 7.5 +1.0
DIHP Dimensional International High Profitability ETF 1.9 29 26 6.6 +0.0
RAYJ Rayliant SMDAM Japan Equity ETF 1.8 72 -17 3.5 -3.0
DWMF WisdomTree International Multifactor Fund 1.8 38 17 7.1 +0.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.8 8 47 7.1 +0.6
SMIN iShares MSCI India Small Cap ETF 1.8 79 -24 3.7 -2.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.8 36 19 9.1 +2.6
ACWX iShares MSCI ACWI ex U.S. ETF 1.8 34 21 7.3 +0.7
EMXC iShares MSCI Emerging Markets ex China ETF 1.8 25 30 6.9 +0.4
EWG iShares MSCI Germany ETF 1.8 50 5 6.6 +0.0
IMTM iShares MSCI Intl Momentum Factor ETF 1.8 30 25 5.2 -1.4
VPL Vanguard FTSE Pacific ETF 1.8 7 48 6.3 -0.3
RFEU First Trust Riverfront Dynamic Europe ETF 1.8 83 -28 10.0 +3.5
DFAE Dimensional Emerging Core Equity Market ETF 1.8 35 20 8.6 +2.1
NUKZ Range Nuclear Renaissance Index ETF 1.8 85 -30 1.2 -5.4
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 31 6.1 -0.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.7 66 -11 9.0 +2.4
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 25 7.3 +0.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 17 8.6 +2.1
SCJ iShares MSCI Japan Small-Cap ETF 1.7 50 5 6.4 -0.1
EEMA iShares MSCI Emerging Markets Asia ETF 1.7 49 6 9.2 +2.6
PID Invesco International Dividend Achievers ETF 1.7 53 2 5.1 -1.4
OBOR KraneShares MSCI One Belt One Road Index ETF 1.7 79 -24 7.7 +1.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.7 15 40 7.4 +0.9
FGM First Trust Germany AlphaDEX Fund 1.7 80 -25 6.8 +0.3
IPAC iShares Core MSCI Pacific ETF 1.7 9 46 6.0 -0.6
FEZ SPDR EURO STOXX 50 ETF 1.7 29 26 6.4 -0.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.7 32 23 5.9 -0.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.7 45 10 9.6 +3.1
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.7 58 -3 9.5 +2.9
DAX Global X DAX Germany ETF 1.7 21 34 7.0 +0.5
PATN Pacer Nasdaq International Patent Leaders ETF 1.7 65 -10 5.3 -1.2
IQLT iShares MSCI Intl Quality Factor ETF 1.7 30 25 6.1 -0.5
FDEM Fidelity Emerging Markets Multifactor ETF 1.7 25 30 12.2 +5.7
FLGR Franklin FTSE Germany ETF 1.6 9 46 7.2 +0.7
ISCF iShares International SmallCap Equity Factor ETF 1.6 23 32 8.1 +1.5
VYMI Vanguard International High Dividend Yield ETF 1.6 17 38 9.0 +2.5
COPY Tweedy, Browne Insider + Value ETF 1.6 80 -25 11.6 +5.1
FYLD Cambria Foreign Shareholder Yield ETF 1.6 59 -4 11.1 +4.6
IDMO Invesco S&P International Developed Momentum ETF 1.6 25 30 5.8 -0.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.5 70 -15 8.4 +1.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.5 80 -25 10.6 +4.1
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.5 70 -15 3.9 -2.7
EMDM First Trust Bloomberg Emerging Market Democracies ETF 1.5 75 -20 10.0 +3.5
DVYE iShares Emerging Markets Dividend ETF 1.5 49 6 18.1 +11.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.4 59 -4 8.4 +1.9
NUDM Nuveen ESG International Developed Markets Equity ETF 1.4 31 24 5.9 -0.6
DTCR Global X Data Center & Digital Infrastructure ETF 1.4 50 5 3.9 -2.7
DFE WisdomTree Europe SmallCap Dividend Fund 1.4 58 -3 8.0 +1.5
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.4 30 25 6.7 +0.2
IQSI IQ Candriam International Equity ETF 1.4 15 40 6.2 -0.3
SCHE Schwab Emerging Markets Equity ETF 1.4 11 44 10.6 +4.1
DEHP Dimensional Emerging Markets High Profitability ETF 1.4 41 14 6.4 -0.1
JIVE JPMorgan International Value ETF 1.4 55 0 10.7 +4.2
EEM iShares MSCI Emerging Markets ETF 1.4 69 -14 9.5 +2.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.4 75 -20 2.9 -3.6
IEMG iShares Core MSCI Emerging Markets ETF 1.4 9 46 9.8 +3.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.4 80 -25 5.9 -0.6
VWO Vanguard FTSE Emerging Markets ETF 1.3 7 48 10.2 +3.7
FDD First Trust Stoxx European Select Dividend Index Fund 1.3 58 -3 11.0 +4.4
EFV iShares MSCI EAFE Value ETF 1.3 34 21 8.5 +2.0
VIGI Vanguard International Dividend Appreciation ETF 1.3 10 45 6.3 -0.2
IGRO iShares International Dividend Growth ETF 1.3 15 40 6.9 +0.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.3 58 -3 6.6 +0.1
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 6 9.4 +2.9
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.3 20 35 6.1 -0.5
EDEN iShares MSCI Denmark ETF 1.3 53 2 6.2 -0.3
CZAR Themes Natural Monopoly ETF 1.3 35 20 5.5 -1.0
ESGD iShares ESG Aware MSCI EAFE ETF 1.3 20 35 6.3 -0.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.3 44 11 10.3 +3.8
FPXI First Trust International Equity Opportunities ETF 1.2 70 -15 4.4 -2.2
AGRW Allspring LT Large Growth ETF 1.2 35 20 3.6 -3.0
EWUS iShares MSCI United Kingdom Small Cap ETF 1.2 59 -4 7.7 +1.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.2 30 25 9.6 +3.0
GNR SPDR S&P Global Natural Resources ETF 1.2 40 15 10.3 +3.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.2 70 -15 7.5 +1.0
SLX VanEck Steel ETF 1.2 56 -1 13.7 +7.2
BLES Inspire Global Hope ETF 1.2 61 -6 6.8 +0.3
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.2 50 5 5.8 -0.7
EMGF iShares Emerging Markets Equity Factor ETF 1.2 25 30 10.8 +4.3
ESGG FlexShares STOXX Global ESG Select Index Fund 1.1 42 13 5.2 -1.3
WLDR Affinity World Leaders Equity ETF 1.1 67 -12 7.1 +0.6
DGIN VanEck Digital India ETF 1.1 71 -16 1.3 -5.2
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 48 10.4 +3.9
CGV Conductor Global Equity Value ETF 1.1 130 -75 7.7 +1.2
EWT iShares MSCI Taiwan ETF 1.0 58 -3 5.5 -1.0
INEQ Columbia International Equity Income ETF 1.0 45 10 7.6 +1.0
DFJ WisdomTree Japan SmallCap Dividend Fund 1.0 58 -3 7.1 +0.6
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 1.0 58 -3 7.0 +0.5
EWM iShares MSCI Malaysia ETF 1.0 50 5 6.4 -0.1
GEW Cambria Global EW ETF 1.0 29 26 5.9 -0.6
XCEM Columbia EM Core ex-China ETF 1.0 16 39 7.6 +1.1
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.0 90 -35 5.1 -1.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.0 29 26 8.8 +2.3
LDEM iShares ESG MSCI EM Leaders ETF 1.0 17 38 12.8 +6.3
EMMF WisdomTree Emerging Markets Multifactor Fund 1.0 48 7 6.9 +0.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -33 8.8 +2.2
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 8 8.4 +1.9
CGXU Capital Group International Focus Equity ETF 0.9 54 1 5.3 -1.2
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 0.9 75 -20 7.2 +0.7
SMOG VanEck Low Carbon Energy ETF 0.9 61 -6 1.5 -5.0
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -28 8.9 +2.4
MJSC MUFG Japan Small Cap Active ETF 0.9 85 -30 5.7 -0.8
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.9 42 13 9.3 +2.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.9 41 14 8.1 +1.6
EWO iShares MSCI Austria ETF 0.9 50 5 9.1 +2.6
GVAL Cambria Global Value ETF 0.9 68 -13 10.5 +4.0
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.9 33 22 9.4 +2.8
DEM WisdomTree Emerging Markets High Dividend Fund 0.9 63 -8 12.7 +6.1
ILF iShares Latin America 40 ETF 0.8 48 7 11.9 +5.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 25 8.4 +1.9
FLTW Franklin FTSE Taiwan ETF 0.8 19 36 5.8 -0.7
HAP VanEck Natural Resources ETF 0.8 50 5 8.8 +2.3
CGDG Capital Group Dividend Growers ETF 0.8 47 8 6.0 -0.5
FLAU Franklin FTSE Australia ETF 0.8 9 46 6.3 -0.3
FDEV Fidelity International Multifactor ETF 0.7 18 37 7.4 +0.9
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 43 4.9 -1.6
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -5 4.0 -2.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 46 5.5 -1.0
DEW WisdomTree Global High Dividend Fund 0.7 58 -3 8.2 +1.7
GLOF iShares Global Equity Factor ETF 0.7 20 35 6.6 +0.1
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.7 80 -25 9.3 +2.8
FLCH Franklin FTSE China ETF 0.7 19 36 15.4 +8.9
VT Vanguard Total World Stock ETF 0.7 6 49 5.7 -0.8
VSGX Vanguard ESG International Stock ETF 0.7 10 45 7.5 +1.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 8 7.7 +1.2
EIS iShares MSCI Israel ETF 0.7 58 -3 7.6 +1.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.7 70 -15 12.3 +5.7
ACWI iShares MSCI ACWI ETF 0.6 32 23 5.3 -1.2
EYLD Cambria Emerging Shareholder Yield ETF 0.6 66 -11 11.6 +5.1
IDHQ Invesco S&P International Developed High Quality ETF 0.6 29 26 6.3 -0.2
NUEM Nuveen ESG Emerging Markets Equity ETF 0.6 36 19 7.2 +0.7
ISRA VanEck Israel ETF 0.6 59 -4 7.0 +0.4
CGW Invesco S&P Global Water Index ETF 0.6 57 -2 4.7 -1.8
EWN iShares MSCI Netherlands ETF 0.6 50 5 5.3 -1.2
KOKU Xtrackers MSCI Kokusai Equity ETF 0.6 9 46 5.1 -1.4
WRND IQ Global Equity R&D Leaders ETF 0.6 18 37 7.5 +1.0
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 45 5.6 -1.0
URTH iShares MSCI World ETF 0.6 24 31 4.9 -1.6
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 35 5.7 -0.8
QWLD SPDR MSCI World StrategicFactors ETF 0.5 30 25 5.7 -0.8
CVAR Cultivar ETF 0.5 87 -32 7.5 +1.0
KALL KraneShares MSCI All China Index ETF 0.5 49 6 13.4 +6.8
EMXF iShares ESG Advanced MSCI EM ETF 0.5 16 39 7.9 +1.4
AVSE Avantis Responsible Emerging Markets Equity ETF 0.5 33 22 7.8 +1.3
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.5 80 -25 14.2 +7.6
TOK iShares MSCI Kokusai ETF 0.4 26 29 4.9 -1.6
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 6 5.1 -1.4
GWX SPDR S&P International Small Cap ETF 0.4 40 15 6.5 -0.1
GXC SPDR S & P China ETF 0.4 59 -4 15.9 +9.4
EPOL iShares MSCI Poland ETF 0.4 59 -4 11.3 +4.8
OCEN IQ Clean Oceans ETF 0.4 45 10 5.3 -1.2
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -10 4.1 -2.5
EDIV SPDR S&P Emerging Markets Dividend ETF 0.4 49 6 9.4 +2.8
APIE ActivePassive International Equity ETF 0.4 45 10 7.1 +0.6
CLNR IQ Cleaner Transport ETF 0.4 45 10 5.2 -1.3
XT iShares Exponential Technologies ETF 0.4 46 9 4.5 -2.1
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.4 19 36 5.5 -1.1
JADE JPMorgan Active Developing Markets Equity ETF 0.4 65 -10 7.7 +1.2
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.4 20 35 3.0 -3.5
DTAN Sparkline International Intangible Value ETF 0.4 55 0 8.1 +1.6
GREK Global X MSCI Greece ETF 0.4 57 -2 10.8 +4.3
IXP iShares Global Comm Services ETF 0.3 42 13 5.6 -0.9
MCHI iShares MSCI China ETF 0.3 59 -4 16.9 +10.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.3 40 15 6.7 +0.1
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.3 45 10 1.7 -4.8
AFK VanEck Africa Index ETF 0.3 98 -43 14.0 +7.5
EFNL iShares MSCI Finland ETF 0.3 56 -1 6.3 -0.2
FID First Trust S&P International Dividend Aristocrats ETF 0.3 60 -5 7.7 +1.2
WDIV SPDR S&P Global Dividend ETF 0.3 40 15 8.9 +2.4
ESGE iShares ESG Aware MSCI EM ETF 0.3 25 30 9.7 +3.2
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -51 11.7 +5.2
JGLO JPMorgan Global Select Equity ETF 0.3 33 22 5.0 -1.5
RAYD Rayliant Quantitative Developed Market Equity ETF 0.3 80 -25 4.5 -2.1
KNCT Invesco Next Gen Connectivity ETF 0.3 40 15 4.6 -2.0
NLR VanEck Uranium+Nuclear Energy ETF 0.3 61 -6 1.6 -4.9
URA Global X Uranium ETF 0.3 69 -14 1.1 -5.5
ECNS iShares MSCI China Small-Cap ETF 0.3 59 -4 9.2 +2.7
IPKW Invesco International BuyBack Achievers ETF 0.2 55 0 8.8 +2.3
FRDM Freedom 100 Emerging Markets ETF 0.2 49 6 7.3 +0.8
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.2 25 30 6.0 -0.5
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 26 7.5 +1.0
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 -10 7.8 +1.3
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.2 22 33 5.9 -0.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 35 5.3 -1.2
FLBR Franklin FTSE Brazil ETF 0.2 19 36 14.6 +8.1
EWZS iShares MSCI Brazil Small-Cap ETF 0.2 59 -4 12.0 +5.5
KLMN Invesco MSCI North America Climate ETF 0.2 9 46 5.0 -1.6
TRFK Pacer Data and Digital Revolution ETF 0.2 60 -5 3.0 -3.5
FLLA Franklin FTSE Latin America ETF 0.2 19 36 12.8 +6.3
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 34 3.7 -2.8
ACVF American Conservative Values ETF 0.1 75 -20 4.3 -2.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 30 6.3 -0.3
PRNT 3D Printing ETF 0.1 66 -11 1.8 -4.7
IUS Invesco RAFI Strategic US ETF 0.1 19 36 6.8 +0.3
TUR iShares MSCI Turkey ETF 0.1 58 -3 15.7 +9.2

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Infrastructure Development ex-U.S. ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.4 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 CATEGORY
AVERAGE		 1.58
 
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.