KraneShares CSI China Internet ETF
ALTAR
Score™		 23.5% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 6.7x P/Sales
ratio		 1.3x
P/BV
ratio		 1.3x Div.
yield		 0.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The KraneShares CSI China Internet ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the CSI Overseas China Internet Index. The index is designed to measure the performance of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Krane Fund Advisors LLC
Website www.kraneshares.com
Inception date Jul 31, 2013
Assets (mns) $6,113
Currency USD
Expense ratio 69 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 34
Wgt avg mkt cap (mns) $134,739
Large cap (>$10bn) 73.4%
Mid cap ($2-10bn) 25.4%
Small cap (<$2bn) 1.2%
Developed mkts 20.0%
Emerging mkts 80.0%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 10.3 %
ALIBABA GROUP HOLDING LTD. 8.5 %
PINDUODUO, INC. SPONSORED ADR CLAS 7.9 %
MEITUAN DIANPING 6.9 %
NETEASE, INC 6.3 %
KUAISHOU TECHNOLOGY CLASS B 4.4 %
KE HOLDINGS, INC. CLASS A 4.1 %
BAIDU, INC. CLASS A 4.1 %
TRIP.COM GROUP LTD. 4.1 %
JD.COM, INC. CLASS A 4.1 %
Total 60.6 %

TOP COUNTRY EXPOSURE
CHINA 91.8 %
HONG KONG 3.6 %









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.
-16.3% -14.7% -7.5% 0.3% 2.6%

Market Correlations
versus... Beta R-squared
S&P500 1.14 28%
MSCI EAFE 0.86 23%
MSCI Emg. Mkts. 0.66 33%

Technical Indicators
Recent close $28.89
30d moving avg. $26.06
Annualized volatility 42.9%
Short interest (ETF) 17.7%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 20,078
Turnover 9.5%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $3,254

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 201 potential alternatives to the KraneShares CSI China Internet ETF ETF based on the alternatives' overlap in portfolio holdings with KWEB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KWEB Expense: 69 bp ALTAR Score™: 23.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KWEB
Ticker Fund
Name		 Overlap1
vs KWEB
(%)		 Expense
ratio
(bp)		 Savings
vs KWEB
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KWEB
(%)
FDNI First Trust Dow Jones International Internet ETF 43.4 65 4 23.9 +0.3
CHIQ Global X MSCI China Consumer Discretionary ETF 35.3 65 4 13.7 -9.9
CQQQ Invesco China Technology ETF 34.7 70 -1 15.5 -8.1
FXI iShares China Large-Cap ETF 34.4 74 -5 20.4 -3.2
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 30.6 60 9 8.7 -14.9
MCHI iShares MSCI China ETF 30.4 59 10 20.0 -3.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 30.2 86 -17 12.3 -11.2
FLCH Franklin FTSE China ETF 29.8 19 50 17.8 -5.7
GXC SPDR S & P China ETF 27.5 59 10 18.7 -4.9
TCHI iShares MSCI China Multisector Tech ETF 27.1 59 10 14.4 -9.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 25.1 32 37 14.1 -9.5
MCH Matthews China Active ETF 24.5 79 -10 14.8 -8.8
JCHI JPMorgan Active China ETF 23.3 65 4 15.1 -8.5
CGRO CoreValues Alpha Greater China Growth ETF 21.9 75 -6 5.0 -18.5
BKF iShares MSCI BIC ETF 19.9 69 0 14.4 -9.2
SOCL Global X Social Media ETF 18.5 65 4 12.3 -11.2
BNGE First Trust S-Network Streaming and Gaming ETF 14.8 70 -1 3.0 -20.5
IVRS iShares Future Metaverse Tech and Communications ETF 13.9 47 22 5.2 -18.4
OND ProShares On-Demand ETF 13.7 58 11 0.5 -23.1
LDEM iShares ESG MSCI EM Leaders ETF 13.6 17 52 12.5 -11.0
PGJ Invesco Golden Dragon China ETF 13.3 70 -1 14.9 -8.6
AIA iShares Asia 50 ETF 13.0 50 19 7.6 -16.0
ESPO VanEck Video Gaming and eSports ETF 11.7 56 13 6.4 -17.2
EMC Global X Emerging Markets Great Consumer ETF 11.6 75 -6 7.1 -16.5
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 11.6 75 -6 3.2 -20.4
ODDS Pacer BlueStar Digital Entertainment ETF 11.1 60 9 4.5 -19.0
DRGN Themes China Generative Artificial Intelligence ETF 10.6 39 30 9.3 -14.2
GMF SPDR S&P Emerging Asia Pacific ETF 9.5 49 20 8.5 -15.0
EEMA iShares MSCI Emerging Markets Asia ETF 9.2 49 20 7.5 -16.1
EMXF iShares ESG Advanced MSCI EM ETF 9.0 16 53 6.6 -17.0
SCHE Schwab Emerging Markets Equity ETF 8.7 11 58 9.3 -14.3
OGIG ALPS O'Shares Global Internet Giants ETF 8.3 48 21 2.4 -21.2
VWO Vanguard FTSE Emerging Markets ETF 8.2 7 62 9.0 -14.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 8.1 70 -1 6.9 -16.7
ECNS iShares MSCI China Small-Cap ETF 7.9 59 10 9.7 -13.9
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 7.9 15 54 8.8 -14.8
ISHP First Trust Nasdaq Retail ETF 7.8 60 9 5.1 -18.5
FMET Fidelity Metaverse ETF 7.7 39 30 4.2 -19.3
SPEM SPDR Portfolio Emerging Markets ETF 7.7 7 62 9.4 -14.2
EBIZ Global X E-Commerce ETF 7.7 50 19 4.3 -19.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 7.7 30 39 7.9 -15.7
MOTI VanEck Morningstar International Moat ETF 7.5 58 11 9.6 -14.0
FLAX Franklin FTSE Asia Ex Japan ETF 7.4 19 50 7.1 -16.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 7.3 32 37 7.5 -16.1
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 7.3 69 0 7.6 -16.0
EEM iShares MSCI Emerging Markets ETF 7.2 69 0 7.8 -15.8
JHEM John Hancock Multifactor Emerging Markets ETF 7.0 49 20 7.5 -16.1
BKEM BNY Mellon Emerging Markets Equity ETF 6.9 11 58 24.0 +0.5
PATN Pacer Nasdaq International Patent Leaders ETF 6.9 65 4 4.0 -19.5
PXH Invesco FTSE RAFI Emerging Markets ETF 6.8 49 20 13.1 -10.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 6.8 36 33 7.5 -16.0
EMGF iShares Emerging Markets Equity Factor ETF 6.7 25 44 8.9 -14.7
ESGE iShares ESG Aware MSCI EM ETF 6.7 25 44 8.2 -15.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 6.7 39 30 13.3 -10.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 6.7 15 54 8.0 -15.6
IXP iShares Global Comm Services ETF 6.5 42 27 5.8 -17.8
EMMF WisdomTree Emerging Markets Multifactor Fund 6.5 48 21 8.6 -15.0
IEMG iShares Core MSCI Emerging Markets ETF 6.5 9 60 8.2 -15.4
RXI iShares Global Consumer Discretionary ETF 6.4 41 28 8.0 -15.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 6.4 66 3 7.3 -16.2
DEHP Dimensional Emerging Markets High Profitability ETF 6.4 41 28 4.8 -18.7
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 6.4 88 -19 8.4 -15.2
MEM Matthews Emerging Markets Equity Active ETF 6.2 79 -10 8.4 -15.2
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 6.1 33 36 6.7 -16.9
JADE JPMorgan Active Developing Markets Equity ETF 6.0 65 4 5.9 -17.6
ARVR First Trust Indxx Metaverse ETF 5.8 70 -1 3.6 -20.0
NUEM Nuveen ESG Emerging Markets Equity ETF 5.7 36 33 5.9 -17.6
MOTG VanEck Morningstar Global Wide Moat ETF 5.5 52 17 7.5 -16.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 5.5 45 24 8.0 -15.6
FDEM Fidelity Emerging Markets Multifactor ETF 5.4 25 44 10.4 -13.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 5.3 41 28 6.9 -16.7
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.3 70 -1 9.2 -14.3
METV Roundhill Ball Metaverse ETF 5.3 59 10 7.9 -15.7
DFAE Dimensional Emerging Core Equity Market ETF 5.2 35 34 7.0 -16.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 5.2 95 -26 9.7 -13.9
DSTX Distillate International Fundamental Stability & Value ETF 5.1 55 14 6.3 -17.3
IBUY Amplify Online Retail ETF 4.5 65 4 2.1 -21.5
ABLG Abacus FCF International Leaders ETF 4.5 59 10 6.5 -17.0
HERO Global X Video Games & Esports ETF 4.4 50 19 5.7 -17.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 4.4 42 27 4.0 -19.6
ANEW ProShares MSCI Transformational Changes ETF 4.3 45 24 4.2 -19.3
FDHT Fidelity Digital Health ETF 4.2 39 30 1.8 -21.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.1 30 39 7.5 -16.1
IBLC iShares Blockchain and Tech ETF 4.1 47 22 -1.3 -24.8
MINV Matthews Asia Innovators Active ETF 3.8 79 -10 5.5 -18.0
GINN Goldman Sachs Innovate Equity ETF 3.8 52 17 3.6 -20.0
DFEM Dimensional Emerging Markets Core Equity 2 ETF 3.7 38 31 7.0 -16.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.7 59 10 8.5 -15.0
PCGG Polen Capital Global Growth ETF 3.6 85 -16 3.8 -19.7
ECON Columbia Emerging Markets Consumer ETF 3.5 49 20 6.6 -17.0
AVSE Avantis Responsible Emerging Markets Equity ETF 3.3 33 36 6.6 -16.9
JIVE JPMorgan International Value ETF 3.3 55 14 7.9 -15.6
AVEM Avantis Emerging Markets Equity ETF 3.3 33 36 7.0 -16.5
NERD Roundhill Video Games ETF 3.1 50 19 7.7 -15.9
TTAI FCF International Quality ETF 2.9 59 10 6.9 -16.6
EVLU iShares MSCI Emerging Markets Value Factor ETF 2.8 35 34 9.9 -13.6
GGME Invesco Next Gen Media and Gaming ETF 2.8 60 9 4.4 -19.1
AIVC Amplify Bloomberg AI Value Chain ETF 2.7 59 10 3.4 -20.1
FDCF Fidelity Disruptive Communications ETF 2.6 50 19 1.8 -21.7
IPKW Invesco International BuyBack Achievers ETF 2.6 55 14 7.7 -15.8
RNEM First Trust Emerging Markets Equity Select ETF 2.6 75 -6 7.7 -15.8
AIQ Global X Artificial Intelligence & Technology ETF 2.5 68 1 2.7 -20.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.5 40 29 6.2 -17.4
DINT Davis Select International ETF 2.5 55 14 5.8 -17.8
AOTS AOT Software Platform ETF 2.4 49 20 4.7 -18.8
ROAM Hartford Multifactor Emerging Markets ETF 2.4 44 25 7.5 -16.0
CWI SPDR MSCI ACWI ex-US ETF 2.4 30 39 6.3 -17.3
ACWX iShares MSCI ACWI ex U.S. ETF 2.4 34 35 6.2 -17.3
VEU Vanguard FTSE All-World ex-US Index Fund 2.4 4 65 6.5 -17.0
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 2.3 57 12 2.3 -21.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.3 18 51 6.2 -17.4
CDIG City Different Investments Global Equity ETF 2.2 75 -6 -1.6 -25.2
VXUS Vanguard Total International Stock ETF 2.2 5 64 6.5 -17.1
BUYZ Franklin Disruptive Commerce ETF 2.2 50 19 2.4 -21.2
ONLN ProShares Online Retail ETF 2.2 58 11 1.2 -22.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.1 41 28 5.8 -17.7
IXUS iShares Core MSCI Total International Stock ETF 2.1 7 62 6.4 -17.1
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.1 60 9 6.4 -17.1
TIIV AAM Todd International Intrinsic Value ETF 2.1 54 15 9.3 -14.3
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.9 45 24 9.4 -14.1
HTEC ROBO Global Healthcare Technology and Innovation ETF 1.9 68 1 2.1 -21.4
VSGX Vanguard ESG International Stock ETF 1.7 10 59 6.4 -17.1
HEAL Global X HealthTech ETF 1.7 50 19 -1.4 -25.0
SDIV Global X Superdividend ETF 1.7 58 11 13.6 -9.9
DFEV Dimensional Emerging Markets Value ETF 1.7 43 26 9.4 -14.2
OSEA Harbor International Compounders ETF 1.7 55 14 4.2 -19.4
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.6 75 -6 1.8 -21.8
DWLD Davis Select Worldwide ETF 1.6 63 6 6.5 -17.1
AWAY ETFMG Travel Tech ETF 1.5 76 -7 0.9 -22.7
AVES Avantis Emerging Markets Value ETF 1.5 36 33 9.0 -14.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.5 50 19 8.2 -15.4
BWEB Bitwise Web3 ETF 1.4 85 -16 -0.1 -23.6
DVYE iShares Emerging Markets Dividend ETF 1.3 49 20 17.6 -6.0
CGXU Capital Group International Focus Equity ETF 1.3 54 15 3.7 -19.8
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.3 42 27 7.8 -15.7
KOCG FIS Knights of Columbus Global Belief ETF 1.2 75 -6 4.5 -19.0
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 1.2 80 -11 7.5 -16.1
FRGN Horizon International Equity ETF 1.2 75 -6 7.7 -15.8
FEOE First Eagle Overseas Equity ETF 1.1 79 -10 5.9 -17.7
UMMA Wahed Dow Jones Islamic World ETF 1.1 65 4 3.5 -20.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.1 30 39 6.3 -17.3
WRND IQ Global Equity R&D Leaders ETF 1.1 18 51 3.9 -19.6
QNXT iShares Nasdaq-100 ex Top 30 ETF 1.1 20 49 4.0 -19.6
KLMT Invesco MSCI Global Climate 500 ETF 1.0 10 59 4.8 -18.8
APIE ActivePassive International Equity ETF 1.0 45 24 6.2 -17.4
BPAY BlackRock Future Financial and Technology ETF 0.9 70 -1 4.8 -18.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.9 20 49 4.6 -18.9
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.9 9 60 4.7 -18.8
JIG JPMorgan International Growth ETF 0.9 55 14 3.6 -20.0
ACWI iShares MSCI ACWI ETF 0.9 32 37 4.5 -19.0
IOO iShares Global 100 ETF 0.9 41 28 3.7 -19.8
VT Vanguard Total World Stock ETF 0.8 6 63 4.9 -18.7
FEGE First Eagle Global Equity ETF 0.8 79 -10 5.8 -17.7
JSTC Adasina Social Justice All Cap Global ETF 0.8 89 -20 4.2 -19.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.8 70 -1 6.6 -17.0
GEW Cambria Global EW ETF 0.7 29 40 5.2 -18.3
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 22 7.3 -16.3
CGIE Capital Group International Equity ETF 0.7 54 15 4.4 -19.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 57 4.3 -19.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 0.7 35 34 3.3 -20.2
XT iShares Exponential Technologies ETF 0.7 46 23 3.9 -19.7
FCA First Trust China AlphaDEX Fund 0.6 80 -11 8.4 -15.2
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 20 4.5 -19.1
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.6 65 4 7.1 -16.5
TRFM AAM Transformers ETF 0.5 49 20 0.9 -22.6
CGDG Capital Group Dividend Growers ETF 0.5 47 22 5.0 -18.5
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.5 50 19 4.7 -18.8
DGT State Street SPDR Global Dow ETF 0.5 50 19 5.5 -18.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.5 80 -11 6.9 -16.7
JETS U.S. Global Jets ETF 0.5 60 9 2.1 -21.4
GLOF iShares Global Equity Factor ETF 0.5 20 49 5.4 -18.1
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.4 65 4 1.3 -22.3
IGRO iShares International Dividend Growth ETF 0.4 15 54 6.5 -17.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.4 47 22 7.0 -16.6
FEM First Trust Emerging Markets AlphaDEX Fund 0.4 80 -11 8.8 -14.7
QQQS Invesco NASDAQ Future Gen 200 ETF 0.4 20 49 -3.3 -26.9
AQLT iShares MSCI Global Quality Factor ETF 0.3 18 51 0.0 -23.5
IGPT Invesco AI and Next Gen Software ETF 0.3 60 9 2.4 -21.2
ACWV iShares MSCI Global Min Vol Factor ETF 0.3 20 49 5.6 -18.0
QQWZ Pacer Cash COWZ 100-Nasdaq100 Rotator ETF 0.3 49 20 7.5 -16.0
QQQ Invesco QQQ Trust Series I 0.2 20 49 3.2 -20.4
QQQM Invesco NASDAQ 100 ETF 0.2 15 54 3.2 -20.3
VYMI Vanguard International High Dividend Yield ETF 0.2 17 52 7.7 -15.9
PNQI Invesco NASDAQ Internet ETF 0.2 60 9 3.7 -19.9
EEMO Invesco S&P Emerging Markets Momentum ETF 0.2 29 40 6.8 -16.8
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.2 25 44 6.0 -17.5
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.2 20 49 0.8 -22.8
QQMG Invesco ESG NASDAQ 100 ETF 0.2 20 49 3.1 -20.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.2 21 48 2.9 -20.7
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.1 80 -11 9.2 -14.3
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 30 6.6 -16.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 20 5.9 -17.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 8 61 6.3 -17.2
CIL VictoryShares International Volatility Wtd ETF 0.0 45 24 5.9 -17.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 30 6.1 -17.4
IQSI IQ Candriam International Equity ETF 0.0 15 54 5.4 -18.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 24 6.6 -17.0
BKIE BNY Mellon International Equity ETF 0.0 4 65 17.4 -6.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 49 5.6 -17.9
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 66 5.7 -17.9
THRO iShares U.S. Thematic Rotation Active ETF 0.0 90 -21 3.0 -20.5

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:		 KraneShares CSI China Internet 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 27.7 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 23.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.46 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.