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
30.5 M
ASSETS UNDER MGMT
86 bp
EXPENSES
Fund Basics
| Fund sponsor | Exchange Traded Concepts |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 27, 2021 |
| Assets (mns) | $31 |
| 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 INDS-SPONS GDR 144A | 12.8 % |
| NU HOLDINGS LTD. CLASS A | 7.2 % |
| MERCADOLIBRE INC | 7.1 % |
| SEA LTD. (SINGAPORE) SPONSORED ADR CLASS | 6.2 % |
| KASPI.KZ JSC SPONSORED GDR REGS | 5.6 % |
| ZOMATO LTD. | 5.5 % |
| BAJAJ FINANCE LIMITED | 4.5 % |
| XP INC. CLASS A | 4.1 % |
| GRAB HOLDINGS LTD. (SINGAPORE) CLASS A | 4.0 % |
| MAKEMYTRIP LTD | 3.9 % |
Constituent Breakdown
| Number of holdings | 47 |
| Herfindahl-Hirschman Index | 538 |
| Wgt avg mkt cap (mns) | $57,151 |
| Large cap (>$10bn) | 78.3% |
| Mid cap ($2-10bn) | 20.2% |
| Small cap (<$2bn) | 1.5% |
| Developed mkts. | 21.7% |
| Emerging mkts. | 78.3% |
Country Exposure
 |
INDIA | 37.5 % |
 |
SINGAPORE | 10.2 % |
 |
BRAZIL | 8.9 % |
 |
ARGENTINA | 7.5 % |
 |
CAYMAN ISLANDS | 7.2 % |
 |
SOUTH KOREA | 7.0 % |
 |
KAZAKHSTAN | 5.6 % |
 |
LUXEMBOURG | 3.5 % |
 |
POLAND | 2.8 % |
 |
INDONESIA | 1.9 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.5% | 26.0% | 15.2% | -- | -- | -- | -17.6% | Volatility | 16.5% | 17.6% | 24.5% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.27 | 70% |
| MSCI EAFE | 1.23 | 65% |
| MSCI Emg Mkts | 1.19 | 59% |
Liquidity Measures
| Avg. volume (000) | 8 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.52% |
| ADV of underlying (mns) | $2,950 |
Technical Indicators
| Recent close | $13.42 |
| 30d moving avg. | $13.44 |
| Annualized volatility | 27.3% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 1.7% |
| 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 | 55.4% | 0 bp | +0.2% |
| INQQ | India Internet & Ecommerce ETF | 36.6% | 0 bp | +1.5% |
| EMFQ | Amplify Emerging Markets FinTech ETF | 22.8% | -17 bp | +3.9% |
| KEMQ | KraneShares Emerging Markets Consumer Technology Index ETF | 18.0% | -26 bp | -1.1% |
| MINV | Matthews Asia Innovators Active ETF | 16.2% | -7 bp | +1.5% |
| DGIN | VanEck Digital India ETF | 14.6% | -15 bp | -1.3% |
| FLIN | Franklin FTSE India ETF | 13.4% | -67 bp | +3.4% |
| BPAY | BlackRock Future Financial and Technology ETF | 12.5% | -16 bp | +7.2% |
| OND | ProShares On-Demand ETF | 12.4% | -28 bp | -3.7% |
| BGAIX | Baron Global Advantage | 11.9% | -11 bp | -0.9% |
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 10/22/2024
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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 Rating
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.
ALTAR Score™
FMQQ
1.5%
Cat. Avg
7.6%
ALTAR Score™ Calculation
Category Overview
There are 164 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.6% and a standard deviation of
4.1%. 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.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FMQQSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| FMQQ (86 bp) Percentile rank | 77 |
Peer Group Expense Ratio Distribution
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. | 64.4 | 44.2 | 108.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .