INCO
Columbia India Consumer ETF
The Columbia India Consumer ETF& tracks the Indxx India Consumer Index, a market-cap-weighted index of 30 Indian consumer discretionary stocks listed on the National Stock exchange or the Bombay Stock Exchange.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
75 bp
EXPENSES
$366.9 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Columbia |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 10, 2011 |
| Assets (mns) | $367 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| 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
| GODREJ CONSUMER PRODUCTS LTD | 13.5 % |
| BAJAJ AUTO LIMITED | 10.0 % |
| BRITANNIA INDUSTRIES LTD | 9.5 % |
| DABUR INDIA LIMITED | 8.4 % |
| UNITED SPIRITS LIMITED | 7.7 % |
| HINDUSTAN UNILEVER LIMITED | 7.6 % |
| MOTHERSON SUMI SYSTEMS LTD | 7.4 % |
| BHARAT FORGE LIMITED | 6.8 % |
| MARICO LTD | 6.4 % |
| TITAN INDUSTRIES LIMITED | 4.3 % |
Constituent Breakdown
| Number of holdings | 14 |
| Herfindahl-Hirschman Index | 895 |
| Wgt avg mkt cap (mns) | $19,139 |
| Large cap (>$10bn) | 81.1% |
| Mid cap ($2-10bn) | 18.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 0.0% |
| Emerging mkts. | 100.0% |
Country Exposure
 |
INDIA | 86.8 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.2% | 35.3% | 27.4% | 15.5% | 15.3% | 11.4% | 12.0% | Volatility | 14.4% | 12.9% | 14.9% | 16.9% | 22.6% | 21.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.46 | 41% |
| MSCI EAFE | 0.39 | 27% |
| MSCI Emg Mkts | 0.38 | 26% |
Liquidity Measures
| Avg. volume (000) | 57 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $16 |
Technical Indicators
| Recent close | $71.94 |
| 30d moving avg. | $70.88 |
| Annualized volatility | 13.1% |
| Relative strength (RSI) | 66 |
| Short interest (ETF) | 0.8% |
| 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. INCO |
Expenses vs. INCO |
ALTAR Score™ vs. INCO |
|---|---|---|---|---|
| ECON | Columbia Emerging Markets Consumer ETF | 12.0% | -26 bp | +3.6% |
| NDIA | Global X India Active ETF | 11.9% | 0 bp | +5.0% |
Risk and Returns: INCO 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 7/25/2024
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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
INCO
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™
INCO
1.5%
Cat. Avg
7.5%
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 7.5% and a standard deviation of
3.9%. INCO's ALTAR Score™ is approximately
1.6 standard deviations
below
the category average. This places INCO in the 6th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
INCO
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| INCO (75 bp) Percentile rank | 83 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| INCO | 75.0 | 21.9 | 96.9 |
| Peer Avg. | 56.1 | 21.3 | 77.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .