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) | $25 |
| 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
| RELIANCE INDUSTRIES LTD | 9.1 % |
| NU HOLDINGS LTD. CLASS A | 7.5 % |
| SEA LTD. (SINGAPORE) SPONSORED ADR CLASS | 7.0 % |
| MERCADOLIBRE INC | 6.7 % |
| BAJAJ FINANCE LIMITED | 5.9 % |
| COUPANG, INC. CLASS A | 5.6 % |
| NHN CORP | 5.3 % |
| ZOMATO LTD. | 4.2 % |
| DAUM COMMUNICATIONS CORP | 4.2 % |
| XP INC. CLASS A | 3.2 % |
Constituent Breakdown
| Number of holdings | 77 |
| Herfindahl-Hirschman Index | 416 |
| Wgt avg mkt cap (mns) | $42,734 |
| Large cap (>$10bn) | 71.2% |
| Mid cap ($2-10bn) | 23.1% |
| Small cap (<$2bn) | 5.8% |
| Developed mkts. | 22.8% |
| Emerging mkts. | 77.2% |
Country Exposure
 |
INDIA | 28.8 % |
 |
SOUTH KOREA | 18.6 % |
 |
SINGAPORE | 9.4 % |
 |
CAYMAN ISLANDS | 7.5 % |
 |
BRAZIL | 7.3 % |
 |
ARGENTINA | 6.9 % |
 |
JAPAN | 2.7 % |
 |
INDONESIA | 2.0 % |
 |
GERMANY | 2.0 % |
 |
KAZAKHSTAN | 1.7 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 4.2% | 12.0% | -12.9% | -- | -- | -- | -24.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.31 | 75% |
| MSCI EAFE | 1.30 | 71% |
| MSCI Emg Mkts | 1.18 | 61% |
Liquidity Measures
| Avg. volume (000) | 10 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.52% |
| ADV of underlying (mns) | $2,204 |
Technical Indicators
| Recent close | $11.73 |
| 30d moving avg. | $10.74 |
| Annualized volatility | 28.8% |
| Relative strength (RSI) | 73 |
| Short interest (ETF) | 2.9% |
| 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 | 41.6% | 0 bp | +0.1% |
| INQQ | India Internet & Ecommerce ETF | 28.9% | 0 bp | +9.0% |
| KEMQ | KraneShares Emerging Markets Consumer Technology Index ETF | 23.4% | -26 bp | -1.0% |
| EMFQ | Amplify Emerging Markets FinTech ETF | 21.2% | -17 bp | +3.6% |
| IPO | Renaissance IPO ETF | 13.6% | -26 bp | -5.2% |
| SOCL | Global X Social Media ETF | 12.8% | -21 bp | -7.8% |
| OND | ProShares On-Demand ETF | 11.9% | -28 bp | -4.5% |
| INDA | iShares MSCI India ETF | 11.7% | -21 bp | +1.7% |
| FLIN | Franklin FTSE India ETF | 11.3% | -67 bp | +3.3% |
| INDY | iShares India 50 ETF | 11.2% | +3 bp | +1.8% |
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
| 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 4/18/2024
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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
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
2.0%
Cat. Avg
7.8%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 2.0% |
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 163 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.8% and a standard deviation of
3.9%. FMQQ's ALTAR Score™ is approximately
1.5 standard deviations
below
the category average. This places FMQQ in the 7th 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 | 51.8 | 137.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .