BNE
Blue Horizon BNE ETF
BNE tracks an equal-weighted index of global stocks that are perceived to benefit from a New Energy Economy.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
87 bp
EXPENSES
$3.8 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Exchange Traded Concepts |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 08, 2020 |
| Assets (mns) | $4 |
| Expense ratio | 87 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Exchange-Traded Commodity |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| SIEMENS ENERGY AG | 1.8 % |
| CHINA MOLYBDENUM CO LTD-H | 1.4 % |
| FIRST SOLAR INC | 1.4 % |
| PRYSMIAN SPA | 1.4 % |
| ITRON INC | 1.3 % |
| AEROVIRONMENT INC | 1.3 % |
| IVANHOE MINES LTD. CLASS A | 1.3 % |
| LUNDIN MINING CORP | 1.2 % |
| NEXTERA ENERGY GROUP | 1.2 % |
| WARTSILA OYJ | 1.2 % |
Constituent Breakdown
| Number of holdings | 99 |
| Herfindahl-Hirschman Index | 104 |
| Wgt avg mkt cap (mns) | $50,582 |
| Large cap (>$10bn) | 71.0% |
| Mid cap ($2-10bn) | 20.0% |
| Small cap (<$2bn) | 7.4% |
| Developed mkts. | 84.5% |
| Emerging mkts. | 15.6% |
Country Exposure
 |
UNITED STATES | 43.9 % |
 |
SOUTH KOREA | 7.3 % |
 |
GERMANY | 6.9 % |
 |
CANADA | 6.3 % |
 |
JAPAN | 5.0 % |
 |
CHINA | 5.0 % |
 |
IRELAND | 3.4 % |
 |
BRITAIN | 3.1 % |
 |
NETHERLANDS | 2.8 % |
 |
SWITZERLAND | 2.3 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -9.0% | -17.0% | -2.2% | -9.4% | -- | -- | -10.4% | Volatility | 17.9% | 20.6% | 24.9% | 25.9% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.30 | 65% |
| MSCI EAFE | 1.36 | 66% |
| MSCI Emg Mkts | 1.17 | 51% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $51,852 |
Technical Indicators
| Recent close | $21.54 |
| 30d moving avg. | $22.22 |
| Annualized volatility | 29.0% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.1% |
| 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. BNE |
Expenses vs. BNE |
ALTAR Score™ vs. BNE |
|---|---|---|---|---|
| GRID | First Trust Nasdaq Clean Edge Smart GRID Infrastructure | 20.2% | -29 bp | -0.5% |
| CLNR | IQ Cleaner Transport ETF | 20.0% | -42 bp | +1.1% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 17.6% | -42 bp | +0.6% |
| DRIV | Global X Autonomous & Electric Vehicles ETF | 16.9% | -19 bp | +0.5% |
| RBLD | First Trust Alerian US NextGen Infrastructure ETF | 16.1% | -22 bp | -0.1% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 15.8% | -29 bp | -5.2% |
| WBAT | WisdomTree Battery Value Chain and Innovation Fund | 15.4% | -42 bp | -5.7% |
| PBW | Invesco WilderHill Clean Energy ETF | 15.2% | -21 bp | -16.7% |
| NBCT | Neuberger Berman Carbon Transition Infrastructure ETF | 14.8% | -32 bp | -1.7% |
| PBD | Invesco Global Clean Energy ETF | 14.8% | -12 bp | -12.2% |
Risk and Returns: BNE 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
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
BNE
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™
BNE
5.2%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.2% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. BNE's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places BNE in the 59th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BNE
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| BNE (87 bp) Percentile rank | 96 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BNE | 87.0 | 30.8 | 117.8 |
| Peer Avg. | 42.7 | 20.5 | 63.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .