FMQQ

FMQQ The Next Frontier Internet & Ecommerce ETF

FMQQ is a passively managed fund that invests in internet and e-commerce companies from emerging and frontier markets.


Emerging Market

EQUITY

Rules-Based

MANAGEMENT STYLE

86 bp

EXPENSES

$28.0 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorExchange Traded Concepts
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateSep 27, 2021
Assets (mns)$28
Expense ratio86 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionCommittee
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
RELIANCE INDS-SPONS GDR 144A 13.9 %
SEA LTD. (SINGAPORE) SPONSORED ADR CLASS 10.0 %
NU HOLDINGS LTD. CLASS A 7.7 %
BAJAJ FINANCE LIMITED 6.4 %
MERCADOLIBRE INC 6.4 %
COUPANG, INC. CLASS A 6.1 %
ZOMATO LTD. 4.6 %
NHN CORP 4.4 %
DAUM COMMUNICATIONS CORP 3.2 %
NEXON CO LTD 2.9 %
Constituent Breakdown
Number of holdings77
Herfindahl-Hirschman Index 604
Wgt avg mkt cap (mns)$57,120
Large cap (>$10bn)76.4%
Mid cap ($2-10bn)18.0%
Small cap (<$2bn)5.7%
Developed mkts.21.4%
Emerging mkts.78.6%
Country Exposure
INDIA 33.4 %
SOUTH KOREA 16.5 %
SINGAPORE 12.8 %
CAYMAN ISLANDS 7.7 %
ARGENTINA 6.6 %
BRAZIL 5.2 %
JAPAN 2.9 %
GERMANY 2.5 %
KAZAKHSTAN 2.0 %
LUXEMBOURG 1.8 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 6.6% 10.8% 6.9% -- -- -- -21.9%
Volatility 16.5% 17.6% 24.5% -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5001.2572%
MSCI EAFE1.2165%
MSCI Emg Mkts1.1861%
Liquidity Measures
Avg. volume (000)8
Turnover0.4%
Avg. Bid/Ask (% of price)0.52%
ADV of underlying (mns)$4,074
Technical Indicators
Recent close$12.69
30d moving avg.$12.00
Annualized volatility27.5%
Relative strength (RSI)53
Short interest (ETF)2.5%
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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Risk and Returns: FMQQ vs. Comps (1 YR)

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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 --%
2.4 28.1 3.0 0.6% --
Based on closing prices from 7/11/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
FMQQ



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™

FMQQ

1.5%

Cat. Avg

7.1%

Fund Category: Emerging

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™1.5%
Recommendation

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 be less relevant.

Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™ of 7.1% and a standard deviation of 3.7%. FMQQ's ALTAR Score™ is approximately 1.5 standard deviations below the category average. This places FMQQ in the 6th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
FMQQ
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
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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)
FMQQ 86.0 51.8 137.8
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .