CTEC
Global X CleanTech ETF
CTEC invests in companies that stand to benefit from the increased adoption of technologies that inhibit or reduce negative environmental impacts. This includes companies involved in renewable energy production, energy storage, smart grid implementation, residential/commercial energy efficiency, and/or the production and provision of pollution-reducing products and solutions.
Fund Basics
| Fund sponsor | Global X |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 29, 2020 |
| Assets (mns) | $67 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| 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 +
| VESTAS WIND SYSTEMS A/S | 6.5 % |
| ENPHASE ENERGY INC | 6.2 % |
| XINYI SOLAR HOLDINGS LTD | 5.8 % |
| FIRST SOLAR INC | 5.7 % |
| SAMSUNG SDI CO LTD | 5.7 % |
| SOLAREDGE TECHNOLOGIES, INC. | 5.6 % |
| PLUG POWER INC | 4.3 % |
| JOHNSON MATTHEY PLC | 4.3 % |
| ARRAY TECHNOLOGIES INC | 4.0 % |
| SHOALS TECHNOLOGIES GROUP, INC. CLASS A | 3.8 % |
Constituent Breakdown
| Number of holdings | 40 |
| Herfindahl-Hirschman Index | 363 |
| Wgt avg mkt cap (mns) | $8,033 |
| Large cap (>$10bn) | 24.1% |
| Mid cap ($2-10bn) | 47.7% |
| Small cap (<$2bn) | 23.1% |
| Developed mkts. | 68.6% |
| Emerging mkts. | 31.4% |
Country Exposure
 |
UNITED STATES | 43.7 % |
 |
CHINA | 11.9 % |
 |
SOUTH KOREA | 8.8 % |
 |
GERMANY | 6.8 % |
 |
DENMARK | 6.5 % |
 |
BRITAIN | 5.8 % |
 |
SWITZERLAND | 4.0 % |
 |
CANADA | 3.1 % |
 |
TAIWAN | 3.1 % |
 |
HONG KONG | 2.5 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -15.6% | -25.5% | -21.6% | -- | -- | -- | -6.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.42 | 39% |
| MSCI EAFE | 1.36 | 38% |
| MSCI Emg Mkts | 1.47 | 43% |
Liquidity Measures
| Avg. volume (000) | 29 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.66% |
| ADV of underlying (mns) | $1,348 |
Technical Indicators
| Recent close | $10.73 |
| 30d moving avg. | $12.06 |
| Annualized volatility | 40.8% |
| Relative strength (RSI) | 28 |
| Short interest (ETF) | 0.3% |
| 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. CTEC |
Expenses vs. CTEC |
ALTAR Score™ vs. CTEC |
|---|---|---|---|---|
| TAN | Invesco Solar ETF | 43.8% | +19 bp | +2.6% |
| FRNW | Fidelity Clean Energy ETF | 40.3% | -11 bp | -0.3% |
| ICLN | iShares Global Clean Energy ETF | 33.4% | -10 bp | +1.1% |
| RAYS | Global X Solar ETF | 31.9% | +1 bp | +1.4% |
| CNRG | SPDR S&P Kensho Clean Power ETF | 26.5% | -5 bp | -5.2% |
| ENRG | SoFi Smart Energy ETF | 26.5% | +9 bp | -4.9% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 26.4% | +9 bp | +1.3% |
| PBD | Invesco Global Clean Energy ETF | 26.3% | +25 bp | -4.4% |
| ETEC | iShares Breakthrough Environmental Solutions ETF | 25.3% | -3 bp | +3.1% |
| ACES | ALPS Clean Energy ETF | 24.5% | +5 bp | -6.3% |
Risk and Returns: CTEC 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 9/26/2023
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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
CTEC
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™
CTEC
3.0%
Cat. Avg
4.3%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 3.0% |
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 344 funds in the Global Equities category, with an average ALTAR Score™
of 4.3% and a standard deviation of
5.1%. CTEC's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places CTEC in the 40th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
CTEC
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) |
|
|---|---|---|---|
| CTEC | 50.0 | 66.2 | 116.2 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .