IZRL

ARK Israel Innovative Technology ETF

IZRL tracks an equally weighted index of Israeli technology companies focused on health technology, communications, technology services, electronic technology, consumer services, or producer manufacturing.


Rules-Based, Semi-Diverse

MANAGEMENT MATRIX

ITEQ

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorARK
CategoryInternational Equities
Asset classEquity
Websitelink...
Inception dateDec 04, 2017
Assets (mns)$109
Expense ratio49 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionMarket Cap
WeightingEqual
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
SIMILARWEB LTD. 3.2 %
NANO-X IMAGING LTD 3.2 %
CELLEBRITE DI LTD. 2.7 %
COGNYTE SOFTWARE LTD. 2.6 %
NOVA MEASURING INSTRUMENTS 2.6 %
JFROG LTD. 2.6 %
NICE SYSTEMS LTD-SPONS ADR 2.5 %
TEVA PHARMACEUTICAL-SP ADR 2.4 %
HILAN LTD. 2.4 %
NAYAX LTD. 2.4 %
Constituent Breakdown
Number of holdings47
Herfindahl-Hirschman Index 283
Wgt avg mkt cap (mns)$3,124
Large cap (>$10bn)12.0%
Mid cap ($2-10bn)24.8%
Small cap (<$2bn)63.3%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
ISRAEL 80.6 %
UNITED STATES 8.4 %
LUXEMBOURG 2.0 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 1.1% -14.2% -18.1% -3.3% -- -1.2%
Market Correlations
versus...BetaR-squared
S&P 5000.9861%
MSCI EAFE0.9047%
MSCI Emg Mkts0.8241%
Liquidity Measures
Avg. volume (000)16
Turnover0.3%
Avg. Bid/Ask (% of price)0.64%
ADV of underlying (mns)$1,127
Technical Indicators
Recent close$20.98
30d moving avg.$17.70
Annualized volatility22.5%
Relative strength (RSI)79
Short interest (ETF)5.4%
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. IZRL
Expenses
vs. IZRL
ALTAR Score™
vs. IZRL
ITEQ BlueStar Israel Technology ETF BlueStar Israel Technology Fu   37.1%   +26 bp +0.2%
ISRA VanEck Israel ETF   27.2%   +10 bp +7.3%
EIS iShares MSCI Israel ETF   20.0%   +9 bp +7.8%
Risk and Returns: IZRL 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 -- -- -- -- -- -- --
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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 --%
2.1 26.7 2.6 0.4% --
Based on closing prices from 3/27/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
IZRL



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™

IZRL

1.3%

Cat. Avg

6.7%

Fund Category: International Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™1.3%
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 257 funds in the International Equities category, with an average ALTAR Score™ of 6.7% and a standard deviation of 2.9%. IZRL's ALTAR Score™ is approximately 1.9 standard deviations below the category average. This places IZRL in the 3rd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
IZRL 49.0 64.1 113.1
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.