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.
Fund Basics
| Fund sponsor | Exchange Traded Concepts |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 27, 2021 |
| Assets (mns) | $16 |
| Expense ratio | 86 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MERCADOLIBRE INC | 10.3 % |
| SEA LTD. (SINGAPORE) SPONSORED ADR CLASS | 10.0 % |
| RELIANCE INDUSTRIES LTD | 6.8 % |
| NHN CORP | 6.3 % |
| DAUM COMMUNICATIONS CORP | 5.2 % |
| KASPI.KZ JSC SPONSORED GDR REGS | 5.0 % |
| NEXON CO LTD | 4.8 % |
| COUPANG, INC. CLASS A | 4.7 % |
| NU HOLDINGS LTD. CLASS A | 4.4 % |
| DELIVERY HERO SE | 2.8 % |
Constituent Breakdown
| Number of holdings | 75 |
| Herfindahl-Hirschman Index | 439 |
| Wgt avg mkt cap (mns) | $16,237 |
| Large cap (>$10bn) | 51.5% |
| Mid cap ($2-10bn) | 30.0% |
| Small cap (<$2bn) | 11.0% |
| Developed mkts. | 21.1% |
| Emerging mkts. | 78.9% |
Country Exposure
 |
SOUTH KOREA | 25.3 % |
 |
INDIA | 16.2 % |
 |
SINGAPORE | 12.3 % |
 |
ARGENTINA | 10.4 % |
 |
BRAZIL | 5.6 % |
 |
KAZAKHSTAN | 5.0 % |
 |
JAPAN | 4.8 % |
 |
CAYMAN ISLANDS | 4.4 % |
 |
GERMANY | 2.9 % |
 |
NETHERLANDS | 1.3 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 5.4% | -36.5% | -- | -- | -- | -- | -46.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.22 | 69% |
| MSCI EAFE | 1.26 | 71% |
| MSCI Emg Mkts | 1.09 | 53% |
Liquidity Measures
| Avg. volume (000) | 12 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.48% |
| ADV of underlying (mns) | $2,350 |
Technical Indicators
| Recent close | $9.90 |
| 30d moving avg. | $10.41 |
| Annualized volatility | 32.8% |
| Relative strength (RSI) | 30 |
| Short interest (ETF) | 2.4% |
| 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. FMQQ |
Expenses vs. FMQQ |
ALTAR Score™ vs. FMQQ |
|---|---|---|---|---|
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 34.3% | 0 bp | +0.7% |
| KEMQ | Kraneshares Emerging Markets Consumer Technology Index ETF | 30.8% | -27 bp | +0.4% |
| EWEB | Global X Emerging Markets Internet & E-commerce ETF | 24.0% | -21 bp | +3.8% |
| EMFQ | Amplify Emerging Markets FinTech ETF | 23.0% | -17 bp | +4.3% |
| MINV | Matthews Asia Innovators Active ETF | 21.3% | -7 bp | -2.3% |
| SOCL | Global X Social Media ETF | 16.7% | -21 bp | -2.3% |
| INQQ | India Internet & Ecommerce ETF | 16.6% | 0 bp | +1.2% |
| OND | ProShares On-Demand ETF | 12.5% | -28 bp | -6.9% |
| ESPO | VanEck Video Gaming & eSports ETF | 12.2% | -31 bp | +5.1% |
| KPOP | KPOP and Korean Entertainment ETF | 12.0% | -11 bp | -3.0% |
Risk and Returns: FMQQ 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 3/17/2023
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
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
1.6%
Cat. Avg
8.5%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 1.6% |
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 185 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 8.5% and a standard deviation of
4.4%. FMQQ's ALTAR Score™ is approximately
1.6 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
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) |
|
|---|---|---|---|
| FMQQ | 86.0 | 48.2 | 134.2 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .