KraneShares Hang Seng TECH Index ETF
ALTAR
Score™		 26.2% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 5.7x P/Sales
ratio		 0.7x
P/BV
ratio		 1.0x Div.
yield		 1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KTEC tracks a market-cap-weighted index of the 30 largest Chinese technology companies.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor CICC
Website kraneshares.com
Inception date Jun 09, 2021
Assets (mns) $50
Currency USD
Expense ratio 69 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $121,926
Large cap (>$10bn) 89.9%
Mid cap ($2-10bn) 9.8%
Small cap (<$2bn) 0.3%
Developed mkts 27.5%
Emerging mkts 72.5%

TOP TEN HOLDINGS
NETEASE, INC 9.5 %
TENCENT HOLDINGS LTD 9.0 %
MEITUAN DIANPING 8.3 %
BYD CO LTD-H 8.3 %
XIAOMI CORP. CLASS B 8.2 %
ALIBABA GROUP HOLDING LTD. 7.9 %
JD.COM, INC. CLASS A 5.5 %
BAIDU, INC. CLASS A 5.4 %
LENOVO GROUP LTD 5.0 %
KUAISHOU TECHNOLOGY CLASS B 4.6 %
Total 71.6 %

TOP COUNTRY EXPOSURE
CHINA 91.1 %
HONG KONG 5.8 %









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.
-24.7% -35.9% -8.3% -- -12.5%

Market Correlations
versus... Beta R-squared
S&P500 1.17 31%
MSCI EAFE 0.89 27%
MSCI Emg. Mkts. 0.64 35%

Technical Indicators
Recent close $11.47
30d moving avg. $13.28
Annualized volatility 40.0%
Short interest (ETF) 4.5%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 65
Turnover 1.5%
Bid/Ask (% of price) 0.45%
ADV underlying (mns) $4,299

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 202 potential alternatives to the KraneShares Hang Seng TECH Index ETF ETF based on the alternatives' overlap in portfolio holdings with KTEC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KTEC Expense: 69 bp ALTAR Score™: 26.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KTEC
Ticker Fund
Name		 Overlap1
vs KTEC
(%)		 Expense
ratio
(bp)		 Savings
vs KTEC
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KTEC
(%)
FXI iShares China Large-Cap ETF 42.9 74 -5 22.6 -3.6
CHIQ Global X MSCI China Consumer Discretionary ETF 41.6 65 4 16.8 -9.4
TCHI iShares MSCI China Multisector Tech ETF 37.2 59 10 16.6 -9.6
FDNI First Trust Dow Jones International Internet ETF 35.1 65 4 28.0 +1.8
CQQQ Invesco China Technology ETF 32.8 70 -1 18.9 -7.3
MCHI iShares MSCI China ETF 32.6 59 10 22.3 -3.9
FLCH Franklin FTSE China ETF 30.3 19 50 19.9 -6.3
CGRO CoreValues Alpha Greater China Growth ETF 28.4 75 -6 7.9 -18.3
GXC SPDR S & P China ETF 28.2 59 10 20.5 -5.7
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 27.8 60 9 9.6 -16.5
CXSE WisdomTree China ex-State-Owned Enterprises Fund 26.1 32 37 16.3 -9.9
JCHI JPMorgan Active China ETF 24.6 65 4 16.9 -9.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 23.5 86 -17 14.9 -11.3
BKF iShares MSCI BIC ETF 22.0 69 0 15.7 -10.4
MCH Matthews China Active ETF 20.4 79 -10 16.1 -10.1
LDEM iShares ESG MSCI EM Leaders ETF 15.4 17 52 12.9 -13.3
AIA iShares Asia 50 ETF 15.1 50 19 7.3 -18.9
KGRN KraneShares MSCI China Clean Technology Index ETF 14.6 79 -10 4.4 -21.8
SOCL Global X Social Media ETF 13.6 65 4 14.2 -12.0
BNGE First Trust S-Network Streaming and Gaming ETF 11.6 70 -1 3.2 -23.0
IDRV iShares Self-driving EV & Tech ETF 11.0 47 22 1.7 -24.5
FDRV Fidelity Electric Vehicles and Future Transportation ETF 10.8 39 30 1.2 -24.9
ARVR First Trust Indxx Metaverse ETF 10.5 70 -1 3.5 -22.7
EMC Global X Emerging Markets Great Consumer ETF 10.5 75 -6 7.1 -19.1
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 10.4 75 -6 3.2 -23.0
OND ProShares On-Demand ETF 10.2 58 11 0.6 -25.6
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 10.2 72 -3 2.8 -23.4
EMXF iShares ESG Advanced MSCI EM ETF 10.1 16 53 6.6 -19.6
GMF SPDR S&P Emerging Asia Pacific ETF 9.8 49 20 8.6 -17.6
EEMA iShares MSCI Emerging Markets Asia ETF 9.8 49 20 7.4 -18.8
DRGN Themes China Generative Artificial Intelligence ETF 9.4 39 30 11.4 -14.8
PATN Pacer Nasdaq International Patent Leaders ETF 9.1 65 4 4.0 -22.2
SCHE Schwab Emerging Markets Equity ETF 9.1 11 58 9.5 -16.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 8.9 70 -1 6.8 -19.4
ESGE iShares ESG Aware MSCI EM ETF 8.4 25 44 8.1 -18.1
FCA First Trust China AlphaDEX Fund 8.4 80 -11 9.1 -17.1
VWO Vanguard FTSE Emerging Markets ETF 8.4 7 62 9.3 -16.9
FLAX Franklin FTSE Asia Ex Japan ETF 8.1 19 50 7.0 -19.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 8.1 30 39 7.9 -18.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 8.0 15 54 8.9 -17.3
NUEM Nuveen ESG Emerging Markets Equity ETF 8.0 36 33 5.8 -20.4
SPEM SPDR Portfolio Emerging Markets ETF 8.0 7 62 9.5 -16.6
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 8.0 69 0 7.6 -18.6
EEM iShares MSCI Emerging Markets ETF 7.9 69 0 7.7 -18.5
JHEM John Hancock Multifactor Emerging Markets ETF 7.9 49 20 7.5 -18.7
FMET Fidelity Metaverse ETF 7.8 39 30 4.3 -21.9
ERTH Invesco MSCI Sustainable Future ETF 7.8 62 7 3.6 -22.5
PXH Invesco FTSE RAFI Emerging Markets ETF 7.8 49 20 13.4 -12.8
ODDS Pacer BlueStar Digital Entertainment ETF 7.8 60 9 5.1 -21.1
JADE JPMorgan Active Developing Markets Equity ETF 7.7 65 4 5.9 -20.2
DEHP Dimensional Emerging Markets High Profitability ETF 7.6 41 28 4.8 -21.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 7.6 32 37 7.6 -18.6
BKEM BNY Mellon Emerging Markets Equity ETF 7.5 11 58 24.1 -2.1
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 7.4 15 54 8.0 -18.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 7.3 36 33 7.5 -18.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 7.3 39 30 13.4 -12.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 7.3 66 3 7.3 -18.8
ESPO VanEck Video Gaming and eSports ETF 7.1 56 13 6.4 -19.8
IEMG iShares Core MSCI Emerging Markets ETF 7.0 9 60 8.1 -18.1
MOTI VanEck Morningstar International Moat ETF 6.9 58 11 10.5 -15.7
RXI iShares Global Consumer Discretionary ETF 6.8 41 28 9.1 -17.1
FDEM Fidelity Emerging Markets Multifactor ETF 6.8 25 44 10.5 -15.7
BATT Amplify Lithium & Battery Technology ETF 6.7 59 10 2.1 -24.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 6.5 33 36 6.7 -19.5
EMMF WisdomTree Emerging Markets Multifactor Fund 6.5 48 21 8.6 -17.6
EMGF iShares Emerging Markets Equity Factor ETF 6.3 25 44 8.8 -17.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 6.3 41 28 6.8 -19.3
MEM Matthews Emerging Markets Equity Active ETF 6.2 79 -10 8.6 -17.6
EVLU iShares MSCI Emerging Markets Value Factor ETF 6.1 35 34 10.0 -16.2
IXP iShares Global Comm Services ETF 6.1 42 27 5.9 -20.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 5.9 45 24 8.0 -18.2
SMOG VanEck Low Carbon Energy ETF 5.9 61 8 1.4 -24.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 5.9 88 -19 8.5 -17.7
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.8 70 -1 9.9 -16.3
SDG iShares MSCI Global Sustainable Development Goals ETF 5.6 49 20 4.8 -21.4
DFAE Dimensional Emerging Core Equity Market ETF 5.6 35 34 6.9 -19.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.5 42 27 4.2 -22.0
MOTG VanEck Morningstar Global Wide Moat ETF 5.2 52 17 8.1 -18.1
UEVM VictoryShares Emerging Markets Value Momentum ETF 5.1 45 24 9.9 -16.3
ETEC iShares Breakthrough Environmental Solutions ETF 4.9 47 22 3.4 -22.7
METV Roundhill Ball Metaverse ETF 4.9 59 10 7.3 -18.9
GGME Invesco Next Gen Media and Gaming ETF 4.8 60 9 4.4 -21.8
ISHP First Trust Nasdaq Retail ETF 4.8 60 9 5.8 -20.4
ROAM Hartford Multifactor Emerging Markets ETF 4.5 44 25 7.5 -18.6
DSTX Distillate International Fundamental Stability & Value ETF 4.4 55 14 6.7 -19.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 4.4 38 31 6.9 -19.3
ANEW ProShares MSCI Transformational Changes ETF 4.3 45 24 4.2 -21.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.0 30 39 7.4 -18.7
GINN Goldman Sachs Innovate Equity ETF 4.0 52 17 3.7 -22.5
IBLC iShares Blockchain and Tech ETF 4.0 47 22 -1.3 -27.5
OGIG ALPS O'Shares Global Internet Giants ETF 3.9 48 21 2.4 -23.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.9 59 10 8.4 -17.7
MINV Matthews Asia Innovators Active ETF 3.8 79 -10 5.8 -20.4
FID First Trust S&P International Dividend Aristocrats ETF 3.7 60 9 7.8 -18.4
PCGG Polen Capital Global Growth ETF 3.6 85 -16 4.0 -22.2
LIT Global X Lithium & Battery Tech ETF 3.4 75 -6 5.9 -20.3
BOTZ Global X Robotics & Artificial Intelligence ETF 3.4 69 0 2.1 -24.1
AIQ Global X Artificial Intelligence & Technology ETF 3.2 68 1 2.7 -23.5
NXTG First Trust Indxx NextG ETF 3.1 70 -1 3.4 -22.8
AVEM Avantis Emerging Markets Equity ETF 3.1 33 36 6.9 -19.3
IBUY Amplify Online Retail ETF 2.9 65 4 2.5 -23.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.9 50 19 7.9 -18.3
WDIV SPDR S&P Global Dividend ETF 2.9 40 29 9.2 -17.0
OSEA Harbor International Compounders ETF 2.9 55 14 4.6 -21.6
AVSE Avantis Responsible Emerging Markets Equity ETF 2.9 33 36 6.5 -19.7
ABLG Abacus FCF International Leaders ETF 2.8 59 10 6.8 -19.4
ACWX iShares MSCI ACWI ex U.S. ETF 2.6 34 35 6.4 -19.8
IPKW Invesco International BuyBack Achievers ETF 2.6 55 14 8.1 -18.1
CARZ First Trust NASDAQ Global Auto Index Fund 2.6 70 -1 2.4 -23.8
AIVC Amplify Bloomberg AI Value Chain ETF 2.6 59 10 3.3 -22.9
ECON Columbia Emerging Markets Consumer ETF 2.5 49 20 6.4 -19.7
RNEM First Trust Emerging Markets Equity Select ETF 2.5 75 -6 8.2 -17.9
DRIV Global X Autonomous & Electric Vehicles ETF 2.5 68 1 3.6 -22.6
VEU Vanguard FTSE All-World ex-US Index Fund 2.5 4 65 6.7 -19.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.5 18 51 6.4 -19.8
DINT Davis Select International ETF 2.5 55 14 6.4 -19.7
CWI SPDR MSCI ACWI ex-US ETF 2.4 30 39 6.4 -19.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.4 41 28 5.9 -20.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.3 40 29 6.1 -20.0
VXUS Vanguard Total International Stock ETF 2.3 5 64 6.6 -19.5
MOTO SmartETFs Smart Transportation & Technology ETF 2.3 68 1 5.6 -20.5
IXUS iShares Core MSCI Total International Stock ETF 2.2 7 62 6.6 -19.6
KOCG FIS Knights of Columbus Global Belief ETF 2.2 75 -6 4.6 -21.5
HUMN Roundhill Humanoid Robotics ETF 2.2 75 -6 1.5 -24.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.1 60 9 6.8 -19.4
XT iShares Exponential Technologies ETF 2.0 46 23 3.8 -22.3
FDHT Fidelity Digital Health ETF 1.9 39 30 1.8 -24.4
VSGX Vanguard ESG International Stock ETF 1.9 10 59 6.6 -19.6
HTEC ROBO Global Healthcare Technology and Innovation ETF 1.9 68 1 1.9 -24.3
DFEV Dimensional Emerging Markets Value ETF 1.7 43 26 9.1 -17.1
BUYZ Franklin Disruptive Commerce ETF 1.7 50 19 2.6 -23.6
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 1.6 65 4 1.3 -24.9
PBD Invesco Global Clean Energy ETF 1.6 75 -6 0.4 -25.8
IPOS Renaissance International IPO ETF 1.6 80 -11 0.0 -26.2
ADIV SmartETFs Asia Pacific Dividend Builder ETF 1.6 78 -9 9.5 -16.7
DTAN Sparkline International Intangible Value ETF 1.6 55 14 7.3 -18.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.6 75 -6 1.7 -24.4
DWLD Davis Select Worldwide ETF 1.6 63 6 7.4 -18.8
FDCF Fidelity Disruptive Communications ETF 1.5 50 19 1.8 -24.4
UMMA Wahed Dow Jones Islamic World ETF 1.5 65 4 3.5 -22.6
BWEB Bitwise Web3 ETF 1.4 85 -16 -0.1 -26.3
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.4 30 39 6.4 -19.8
AVES Avantis Emerging Markets Value ETF 1.3 36 33 9.0 -17.2
FRGN Horizon International Equity ETF 1.3 75 -6 7.9 -18.3
CGXU Capital Group International Focus Equity ETF 1.3 54 15 3.8 -22.4
WRND IQ Global Equity R&D Leaders ETF 1.2 18 51 4.0 -22.2
FBOT Fidelity Disruptive Automation ETF 1.2 50 19 2.9 -23.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 1.2 80 -11 7.1 -19.0
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 59 4.9 -21.2
CLNR IQ Cleaner Transport ETF 1.1 45 24 4.0 -22.2
FEOE First Eagle Overseas Equity ETF 1.1 79 -10 6.2 -19.9
VIDI Vident International Equity Strategy ETF 1.1 61 8 8.2 -18.0
JSTC Adasina Social Justice All Cap Global ETF 1.0 89 -20 4.3 -21.8
FEM First Trust Emerging Markets AlphaDEX Fund 0.9 80 -11 8.7 -17.4
ACWI iShares MSCI ACWI ETF 0.9 32 37 4.6 -21.5
GEW Cambria Global EW ETF 0.9 29 40 5.4 -20.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.9 9 60 4.8 -21.4
JIG JPMorgan International Growth ETF 0.9 55 14 3.6 -22.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.9 20 49 4.7 -21.5
VT Vanguard Total World Stock ETF 0.9 6 63 5.0 -21.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 22 7.2 -18.9
IOO iShares Global 100 ETF 0.8 41 28 3.8 -22.3
EEMO Invesco S&P Emerging Markets Momentum ETF 0.8 29 40 6.2 -20.0
ROBO ROBO Global Robotics & Automation Index ETF 0.8 95 -26 2.4 -23.8
FEGE First Eagle Global Equity ETF 0.8 79 -10 6.1 -20.0
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.8 25 44 6.0 -20.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 57 4.5 -21.7
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 22 7.5 -18.6
EBIZ Global X E-Commerce ETF 0.7 50 19 5.1 -21.1
CGIE Capital Group International Equity ETF 0.7 54 15 4.6 -21.6
HEAL Global X HealthTech ETF 0.7 50 19 -1.4 -27.6
AWAY ETFMG Travel Tech ETF 0.6 76 -7 1.2 -25.0
IGRO iShares International Dividend Growth ETF 0.6 15 54 6.8 -19.3
JIVE JPMorgan International Value ETF 0.6 55 14 8.1 -18.0
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.5 65 4 7.4 -18.8
CGDG Capital Group Dividend Growers ETF 0.5 47 22 5.4 -20.8
DGT State Street SPDR Global Dow ETF 0.5 50 19 5.7 -20.5
JETS U.S. Global Jets ETF 0.4 60 9 2.7 -23.5
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.4 80 -11 6.8 -19.4
VYMI Vanguard International High Dividend Yield ETF 0.4 17 52 8.0 -18.2
KNCT Invesco Next Gen Connectivity ETF 0.4 40 29 2.8 -23.4
IGPT Invesco AI and Next Gen Software ETF 0.4 60 9 2.2 -24.0
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 49 5.8 -20.4
VPL Vanguard FTSE Pacific ETF 0.2 7 62 5.0 -21.2
IXN iShares Global Tech ETF 0.2 41 28 2.5 -23.7
AQLT iShares MSCI Global Quality Factor ETF 0.2 18 51 0.0 -26.2
GLOF iShares Global Equity Factor ETF 0.2 20 49 5.5 -20.7
JPIN J.P. Morgan Diversified Return International Equity ETF 0.2 37 32 7.2 -19.0
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.2 58 11 3.6 -22.6
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.1 42 27 7.6 -18.6
SCHF Schwab International Equity ETF 0.1 6 63 5.9 -20.3
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 49 5.6 -20.6
VEA Vanguard FTSE Developed Markets ETF 0.1 3 66 5.9 -20.2
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.1 25 44 5.5 -20.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.0 49 20 6.1 -20.1
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.0 24 45 7.1 -19.1
IQSI IQ Candriam International Equity ETF 0.0 15 54 5.6 -20.6
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 30 6.7 -19.4
INTF iShares International Equity Factor ETF 0.0 15 54 6.5 -19.7
BKIE BNY Mellon International Equity ETF 0.0 4 65 18.1 -8.0
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 49 5.9 -20.3
IMFL Invesco International Developed Dynamic Multifactor ETF 0.0 34 35 5.3 -20.8

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:		 KraneShares Hang Seng TECH Index ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 23.3 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 26.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.45 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.