ARGT
Global X MSCI Argentina ETF
Global X FTSE Argentina 20 ETF seeks to track the performance of the FTSE Argentina 20 Index.
Fund Basics
| Fund sponsor | Global X Management Co LLC |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 02, 2011 |
| Assets (mns) | $48 |
| Expense ratio | 59 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MERCADOLIBRE INC | 26.0 % |
| YPF S.A.-SPONSORED ADR | 5.7 % |
| PAMPA ENERGIA SA-SPON ADR | 4.6 % |
| GRUPO FINANCIERO GALICIA-ADR | 4.4 % |
| CENCOSUD SA | 4.3 % |
| EMBOTELLADORA ANDINA-PREF B | 4.2 % |
| ARCOS DORADOS HOLDINGS INC-A | 4.1 % |
| CIA CERVECERIAS UNIDAS SA | 4.0 % |
| YAMANA GOLD INC | 3.9 % |
| BANCO MACRO SA-ADR | 3.8 % |
Constituent Breakdown
| Number of holdings | 25 |
| Herfindahl-Hirschman Index | 942 |
| Wgt avg mkt cap (mns) | $13,944 |
| Large cap (>$10bn) | 21.3% |
| Mid cap ($2-10bn) | 41.3% |
| Small cap (<$2bn) | 30.0% |
| Developed mkts. | 15.5% |
| Emerging mkts. | 84.5% |
Country Exposure
 |
ARGENTINA | 67.2 % |
 |
CHILE | 12.5 % |
 |
CANADA | 10.6 % |
 |
LUXEMBOURG | 5.4 % |
 |
URUGUAY | 4.1 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 16.9% | 26.3% | 18.7% | 21.7% | 2.7% | 9.9% | 3.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.25 | 51% |
| MSCI EAFE | 1.38 | 60% |
| MSCI Emg Mkts | 1.10 | 45% |
Liquidity Measures
| Avg. volume (000) | 25 |
| Turnover | 1.9% |
| Avg. Bid/Ask (% of price) | 0.49% |
| ADV of underlying (mns) | $1,009 |
Technical Indicators
| Recent close | $36.49 |
| 30d moving avg. | $38.42 |
| Annualized volatility | 36.6% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 6.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ARGT |
Expenses vs. ARGT |
ALTAR Score™ vs. ARGT |
|---|---|---|---|---|
| ECH | iShares MSCI Chile ETF | 10.4% | -2 bp | +5.6% |
| FMQQ | FMQQ The Next Frontier Internet & Ecommerce ETF | 10.3% | +27 bp | -5.0% |
Risk and Returns: ARGT vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 3/24/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
ARGT
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
ARGT
6.6%
Cat. Avg
8.4%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.6% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 185 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 8.4% and a standard deviation of
4.3%. ARGT's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places ARGT in the 34th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ARGT
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ARGT | 59.0 | 48.7 | 107.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .