Rayliant SMDAM Japan Equity ETF
ALTAR
Score™		 3.5% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 22.1x P/Sales
ratio		 1.5x
P/BV
ratio		 2.3x Div.
yield		 2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Rayliant SMDAM Japan Equity ETF seeks to provide investors with long-term capital appreciation by investing primarily in equities of Japanese companies, focusing on innovative investment strategies and factor-based research.

FUND BASICS
Category International Equities
Fund Sponsor Rayliant Investment Research
Website funds.rayliant.com/rayj/
Inception date Apr 04, 2024
Assets (mns) $16
Currency USD
Expense ratio 72 bp
Distributions

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 32
Wgt avg mkt cap (mns) $47,782
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FUJIKURA LTD 6.4 %
MITSUBISHI UFJ FINANCIAL GRO 6.2 %
NEC CORP 5.8 %
MARUWA CO LTD 4.7 %
ASICS CORP 4.6 %
SUMISHO COMPUTER SYSTEMS 4.5 %
SANRIO CO LTD 4.4 %
TOYOTA MOTOR CORP 4.2 %
RESORTTRUST INC 3.9 %
SIGMAXYZ HOLDINGS INC 3.8 %
Total 48.4 %

TOP COUNTRY EXPOSURE
JAPAN 95.3 %










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.
27.5% 27.8% -- -- 22.8%

Market Correlations
versus... Beta R-squared
S&P500 0.64 36%
MSCI EAFE 0.97 59%
MSCI Emg. Mkts. 0.74 38%

Technical Indicators
Recent close $34.25
30d moving avg. $34.09
Annualized volatility 0.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.4%
Bid/Ask (% of price) 5.66%
ADV underlying (mns) $0

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 210 potential alternatives to the Rayliant SMDAM Japan Equity ETF ETF based on the alternatives' overlap in portfolio holdings with RAYJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RAYJ Expense: 72 bp ALTAR Score™: 3.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RAYJ
Ticker Fund
Name		 Overlap1
vs RAYJ
(%)		 Expense
ratio
(bp)		 Savings
vs RAYJ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs RAYJ
(%)
BBJP JPMorgan BetaBuilders Japan ETF 24.5 19 53 6.0 +2.5
EWJ iShares MSCI Japan ETF 24.2 50 22 5.5 +2.0
DBJP Xtrackers MSCI Japan Hedged Equity ETF 24.0 47 25 5.6 +2.1
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 23.9 25 47 6.1 +2.6
FLJP Franklin FTSE Japan ETF 22.6 9 63 5.7 +2.2
FLJH Franklin FTSE Japan Hedged ETF 22.3 9 63 5.7 +2.2
DXJ WisdomTree Japan Hedged Equity Fund 20.8 48 24 6.6 +3.1
JPXN iShares JPX-Nikkei 400 ETF 16.2 48 24 6.1 +2.6
EWJV iShares MSCI Japan Value ETF 16.2 15 57 7.8 +4.3
IPAC iShares Core MSCI Pacific ETF 13.5 9 63 6.0 +2.4
VIGI Vanguard International Dividend Appreciation ETF 12.8 10 62 6.3 +2.8
INEQ Columbia International Equity Income ETF 12.3 45 27 7.6 +4.0
VPL Vanguard FTSE Pacific ETF 11.6 7 65 6.3 +2.7
FJP First Trust Japan AlphaDEX Fund 10.2 80 -8 7.9 +4.4
PATN Pacer Nasdaq International Patent Leaders ETF 8.9 65 7 5.3 +1.8
JAPN Horizon Kinetics Japan Owner Operator ETF 8.3 85 -13 5.3 +1.8
IMOM Alpha Architect International Quantitative Momentum ETF 7.9 49 23 4.7 +1.2
RXI iShares Global Consumer Discretionary ETF 7.7 41 31 8.3 +4.8
DTAN Sparkline International Intangible Value ETF 7.5 55 17 8.1 +4.6
OEFA ALPS O’Shares International Developed Quality Dividend ETF 7.5 48 24 5.3 +1.8
IGRO iShares International Dividend Growth ETF 6.8 15 57 6.9 +3.4
IQSI IQ Candriam International Equity ETF 6.6 15 57 6.2 +2.7
CLNR IQ Cleaner Transport ETF 6.5 45 27 5.2 +1.7
JIRE JPMorgan International Research Enhanced Equity ETF 6.4 24 48 6.8 +3.3
PPIE Putnam PanAgora ESG International Equity ETF 6.0 49 23 7.2 +3.6
EFG iShares MSCI EAFE Growth ETF 6.0 36 36 4.1 +0.6
GSID Goldman Sachs MarketBeta International Equity ETF 5.9 20 52 6.5 +2.9
STXI Strive International Developed Markets ETF 5.8 29 43 6.3 +2.8
HFXI IQ FTSE International Equity Currency Neutral ETF 5.7 20 52 6.6 +3.0
FENI Fidelity Enhanced International ETF 5.7 28 44 6.2 +2.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 5.6 14 58 5.9 +2.4
DIHP Dimensional International High Profitability ETF 5.6 29 43 6.6 +3.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 5.6 36 36 6.3 +2.8
EFA iShares MSCI EAFE ETF 5.5 35 37 6.4 +2.8
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 5.5 20 52 6.1 +2.6
ESGD iShares ESG Aware MSCI EAFE ETF 5.4 20 52 6.3 +2.8
JIG JPMorgan International Growth ETF 5.4 55 17 4.7 +1.2
ITOL Tema International Durable Quality ETF 5.3 60 12 5.7 +2.2
BKIE BNY Mellon International Equity ETF 5.3 4 68 6.6 +3.1
IMTM iShares MSCI Intl Momentum Factor ETF 5.2 30 42 5.2 +1.6
EFV iShares MSCI EAFE Value ETF 5.2 34 38 8.5 +5.0
IDHQ Invesco S&P International Developed High Quality ETF 5.2 29 43 6.3 +2.8
EFAD ProShares MSCI EAFE Dividend Growers ETF 5.1 50 22 5.8 +2.3
CGIE Capital Group International Equity ETF 5.0 54 18 4.9 +1.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 4.9 47 25 7.7 +4.2
IEFA iShares Core MSCI EAFE ETF 4.8 7 65 6.7 +3.2
IVLU iShares MSCI Intl Value Factor ETF 4.7 30 42 9.6 +6.1
INTF iShares International Equity Factor ETF 4.7 15 57 7.3 +3.8
CEFA Global X S&P Catholic Values Developed ex-US ETF 4.7 35 37 6.2 +2.7
DMXF iShares ESG Advanced MSCI EAFE ETF 4.7 12 60 5.4 +1.9
MJSC MUFG Japan Small Cap Active ETF 4.7 85 -13 5.7 +2.2
DOL WisdomTree International LargeCap Dividend Fund 4.5 48 24 6.8 +3.2
SCHF Schwab International Equity ETF 4.5 6 66 6.8 +3.3
JHMD John Hancock Multifactor Developed International ETF 4.5 39 33 7.1 +3.6
RGEF Rockefeller Global Equity ETF 4.4 55 17 4.6 +1.1
UMMA Wahed Dow Jones Islamic World ETF 4.4 65 7 4.7 +1.2
DFAI Dimensional International Core Equity Market ETF 4.4 18 54 6.7 +3.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 4.4 20 52 6.1 +2.6
SPDW SPDR Portfolio Developed World ex-US ETF 4.4 3 69 6.6 +3.1
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 4.3 12 60 5.7 +2.2
IDEV iShares Core MSCI International Developed Markets ETF 4.3 4 68 6.7 +3.1
DIVI Franklin International Core Dividend Tilt Index ETF 4.3 9 63 7.5 +4.0
VEA Vanguard FTSE Developed Markets ETF 4.1 3 69 6.8 +3.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 4.0 45 27 8.3 +4.8
CGXU Capital Group International Focus Equity ETF 3.9 54 18 5.3 +1.8
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 3.9 40 32 7.0 +3.5
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.9 65 7 10.6 +7.1
FNDF Schwab Fundamental International Large Co. Index ETF 3.8 25 47 8.9 +5.4
DWM WisdomTree International Equity Fund 3.8 48 24 6.9 +3.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 3.7 18 54 7.3 +3.8
FIVA Fidelity International Value Factor ETF 3.7 18 54 9.1 +5.6
OSEA Harbor International Compounders ETF 3.7 55 17 4.8 +1.3
BNGE First Trust S-Network Streaming and Gaming ETF 3.7 70 2 2.6 -0.9
IVRS iShares Future Metaverse Tech and Communications ETF 3.7 47 25 3.1 -0.4
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 3.7 75 -3 3.5 -0.1
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.6 30 42 6.7 +3.2
DFSI Dimensional International Sustainability Core 1 ETF 3.5 24 48 6.1 +2.6
NUDM Nuveen ESG International Developed Markets Equity ETF 3.5 31 41 5.9 +2.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.5 41 31 7.1 +3.6
CWI SPDR MSCI ACWI ex-US ETF 3.4 30 42 7.3 +3.8
PIO Invesco Global Water ETF 3.4 75 -3 4.5 +0.9
ACWX iShares MSCI ACWI ex U.S. ETF 3.4 34 38 7.3 +3.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.3 25 47 6.9 +3.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 3.3 39 33 7.5 +4.0
VWID Virtus WMC International Dividend ETF 3.3 49 23 8.0 +4.4
VEU Vanguard FTSE All-World ex-US Index Fund 3.3 4 68 7.6 +4.1
IQDG WisdomTree International Quality Dividend Growth Fund 3.3 42 30 6.9 +3.4
QINT American Century Quality Diversified International ETF 3.2 39 33 6.8 +3.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 3.2 58 14 6.8 +3.3
VSGX Vanguard ESG International Stock ETF 3.2 10 62 7.5 +4.0
EXI iShares Global Industrials ETF 3.1 42 30 4.4 +0.8
AIVI WisdomTree International AI Enhanced Value Fund 3.1 58 14 6.7 +3.2
DFIC Dimensional International Core Equity 2 ETF 3.1 23 49 7.1 +3.6
IQDF FlexShares International Quality Dividend Index Fund 3.1 47 25 8.4 +4.9
VXUS Vanguard Total International Stock ETF 3.0 5 67 7.6 +4.1
AGQI First Trust Active Global Quality Income ETF 3.0 85 -13 5.2 +1.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.0 39 33 6.4 +2.9
ESGG FlexShares STOXX Global ESG Select Index Fund 3.0 42 30 5.2 +1.7
TEMP JPMorgan Climate Change Solutions ETF 3.0 49 23 5.8 +2.3
IXUS iShares Core MSCI Total International Stock ETF 3.0 7 65 7.5 +4.0
VYMI Vanguard International High Dividend Yield ETF 2.9 17 55 9.0 +5.5
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.8 80 -8 4.2 +0.6
JHID John Hancock International High Dividend ETF 2.8 46 26 9.2 +5.6
ARVR First Trust Indxx Metaverse ETF 2.8 70 2 3.9 +0.4
IMFL Invesco International Developed Dynamic Multifactor ETF 2.8 34 38 5.8 +2.3
DFIV Dimensional International Value ETF 2.7 27 45 8.9 +5.4
NXTG First Trust Indxx NextG ETF 2.7 70 2 4.8 +1.3
MOTG VanEck Morningstar Global Wide Moat ETF 2.7 52 20 8.8 +5.3
EFAV iShares MSCI EAFE Min Vol Factor ETF 2.7 22 50 5.9 +2.3
DGT State Street SPDR Global Dow ETF 2.5 50 22 6.6 +3.1
DXIV Dimensional International Vector Equity ETF 2.5 34 38 7.4 +3.9
QTUM Defiance Quantum ETF 2.5 40 32 5.0 +1.5
RAYD Rayliant Quantitative Developed Market Equity ETF 2.5 80 -8 4.5 +1.0
LVHI Franklin International Low Volatility High Dividend Index ET 2.4 40 32 10.1 +6.6
CARZ First Trust NASDAQ Global Auto Index Fund 2.4 70 2 4.0 +0.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 42 7.4 +3.9
DRIV Global X Autonomous & Electric Vehicles ETF 2.3 68 4 4.7 +1.2
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.2 65 7 4.6 +1.0
CGDG Capital Group Dividend Growers ETF 2.2 47 25 6.0 +2.5
FAN First Trust Global Wind Energy ETF 2.2 60 12 4.3 +0.7
SCJ iShares MSCI Japan Small-Cap ETF 2.2 50 22 6.4 +2.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.1 42 30 6.5 +3.0
AVSD Avantis Responsible International Equity ETF 2.1 23 49 5.1 +1.6
JPIN J.P. Morgan Diversified Return International Equity ETF 2.1 37 35 7.8 +4.2
HYDR Global X Hydrogen ETF 2.1 50 22 -6.1 -9.6
AVDE Avantis International Equity ETF 2.0 23 49 7.0 +3.5
IQLT iShares MSCI Intl Quality Factor ETF 2.0 30 42 6.1 +2.6
NUKZ Range Nuclear Renaissance Index ETF 1.9 85 -13 1.2 -2.4
BKCI BNY Mellon Concentrated International ETF 1.8 80 -8 5.1 +1.6
IPAV Global X Infrastructure Development ex-U.S. ETF 1.8 55 17 6.5 +3.0
IBAT iShares Energy Storage & Materials ETF 1.8 47 25 2.6 -1.0
MXI iShares Global Materials ETF 1.8 41 31 7.2 +3.7
WRND IQ Global Equity R&D Leaders ETF 1.8 18 54 7.5 +4.0
IDMO Invesco S&P International Developed Momentum ETF 1.8 25 47 5.8 +2.2
FIDI Fidelity International High Dividend ETF 1.8 18 54 8.0 +4.5
HUMN Roundhill Humanoid Robotics ETF 1.8 75 -3 1.1 -2.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.7 24 48 7.1 +3.6
RFDI First Trust Riverfront Dynamic Developed International ETF 1.7 83 -11 8.9 +5.4
JIVE JPMorgan International Value ETF 1.7 55 17 10.7 +7.2
METV Roundhill Ball Metaverse ETF 1.7 59 13 9.0 +5.5
IOO iShares Global 100 ETF 1.6 41 31 4.6 +1.0
GEW Cambria Global EW ETF 1.6 29 43 5.9 +2.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.6 80 -8 8.4 +4.9
TPIF Timothy Plan International ETF 1.6 62 10 6.0 +2.5
CIL VictoryShares International Volatility Wtd ETF 1.5 45 27 6.4 +2.9
DIM WisdomTree International MidCap Dividend Fund 1.5 58 14 7.2 +3.7
CGGO Capital Group Global Growth Equity ETF 1.4 47 25 4.4 +0.9
GLOF iShares Global Equity Factor ETF 1.4 20 52 6.6 +3.1
GINN Goldman Sachs Innovate Equity ETF 1.4 52 20 3.6 +0.1
KLMT Invesco MSCI Global Climate 500 ETF 1.4 10 62 5.6 +2.0
IXG iShares Global Financials ETF 1.4 42 30 6.5 +3.0
AVIV Avantis International Large Cap Value ETF 1.3 25 47 8.3 +4.7
URTH iShares MSCI World ETF 1.3 24 48 4.9 +1.4
JDOC JPMorgan Healthcare Leaders ETF 1.3 65 7 3.8 +0.3
ACWI iShares MSCI ACWI ETF 1.2 32 40 5.3 +1.8
GLBL Pacer MSCI World Industry Advantage ETF 1.2 65 7 4.1 +0.5
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 23 5.1 +1.6
VT Vanguard Total World Stock ETF 1.1 6 66 5.7 +2.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 1.1 9 63 5.5 +2.0
KNO AXS Knowledge Leaders ETF 1.1 78 -6 5.6 +2.1
QWLD SPDR MSCI World StrategicFactors ETF 1.1 30 42 5.7 +2.2
BULD Pacer BlueStar Engineering the Future ETF 1.1 60 12 0.4 -3.2
FDEV Fidelity International Multifactor ETF 1.1 18 54 7.4 +3.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.0 32 40 5.9 +2.4
CANC Tema Oncology ETF 1.0 75 -3 -2.4 -5.9
AIQ Global X Artificial Intelligence & Technology ETF 1.0 68 4 3.5 +0.0
JGLO JPMorgan Global Select Equity ETF 1.0 33 39 5.0 +1.5
DSTX Distillate International Fundamental Stability & Value ETF 0.9 55 17 7.6 +4.0
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 0.9 58 14 7.0 +3.5
FNDC Schwab Fundamental International Small Co. Index ETF 0.9 39 33 5.7 +2.1
KNCT Invesco Next Gen Connectivity ETF 0.9 40 32 4.6 +1.1
DWMF WisdomTree International Multifactor Fund 0.9 38 34 7.1 +3.5
DFJ WisdomTree Japan SmallCap Dividend Fund 0.9 58 14 7.1 +3.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.9 20 52 5.3 +1.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.9 29 43 7.4 +3.9
BINV Brandes International ETF 0.8 70 2 9.3 +5.7
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.8 65 7 1.9 -1.7
RODE Hartford Multifactor Diversified International ETF 0.8 29 43 10.3 +6.8
JSTC Adasina Social Justice All Cap Global ETF 0.8 89 -17 4.8 +1.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.8 49 23 6.8 +3.2
SCZ iShares MSCI EAFE Small-Cap ETF 0.8 40 32 6.8 +3.3
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.8 58 14 4.4 +0.9
FEOE First Eagle Overseas Equity ETF 0.7 79 -7 6.8 +3.3
GTEK Goldman Sachs Future Tech Leaders Equity ETF 0.7 75 -3 2.9 -0.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 60 4.9 +1.4
HART IQ Healthy Hearts ETF 0.7 45 27 6.1 +2.5
UIVM VictoryShares International Value Momentum ETF 0.7 35 37 8.4 +4.9
WLDR Affinity World Leaders Equity ETF 0.6 67 5 7.1 +3.6
IXJ iShares Global Healthcare ETF 0.5 42 30 6.7 +3.1
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.5 45 27 1.7 -1.8
TTAI FCF International Quality ETF 0.5 59 13 7.4 +3.9
KXI iShares Global Consumer Staples ETF 0.5 41 31 5.7 +2.2
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.5 80 -8 5.9 +2.4
AVDS Avantis International Small Cap Equity ETF 0.5 30 42 6.6 +3.1
WWJD Inspire International ETF 0.4 80 -8 7.1 +3.6
IDLV Invesco S&P International Developed Low Volatility ETF 0.4 25 47 6.5 +3.0
FEGE First Eagle Global Equity ETF 0.4 79 -7 6.5 +2.9
IXN iShares Global Tech ETF 0.4 41 31 3.5 -0.0
BMED Future Health ETF 0.3 85 -13 0.2 -3.3
DLS WisdomTree International SmallCap Dividend Fund 0.3 58 14 7.9 +4.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.3 20 52 5.7 +2.2
XT iShares Exponential Technologies ETF 0.3 46 26 4.5 +1.0
GWX SPDR S&P International Small Cap ETF 0.2 40 32 6.5 +2.9
BLES Inspire Global Hope ETF 0.2 61 11 6.8 +3.3
AVDV Avantis International Small Cap Value ETF 0.2 36 36 8.6 +5.1
SCHC Schwab International Small-Cap Equity ETF 0.1 11 61 7.3 +3.8
ISCF iShares International SmallCap Equity Factor ETF 0.1 23 49 8.1 +4.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 64 7.1 +3.6
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.1 25 47 6.0 +2.5
DFIS Dimensional International Small Cap ETF 0.1 39 33 7.0 +3.5

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:		 Rayliant SMDAM Japan Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.1 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 72 bp
Equals: ALTAR Score 3.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.51 CATEGORY
AVERAGE		 1.64
 
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.