KEJI
Global X China Innovation ETF
KEJI is an actively-managed fund that invests primarily in companies that have economic ties to China and are identified as related to disruptive innovation
Fund Basics
| Fund sponsor | Global X |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 22, 2021 |
| Assets (mns) | $2 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| BYD CO LTD-H | 6.3 % |
| TENCENT HOLDINGS LTD | 6.0 % |
| ALIBABA GROUP HOLDING LTD. | 5.3 % |
| CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD | 4.9 % |
| WUXI BIOLOGICS (CAYMAN) INC. | 3.5 % |
| BYD ELECTRONIC INTL CO LTD | 3.4 % |
| BAIDU, INC. CLASS A | 2.8 % |
| MEITUAN DIANPING | 2.8 % |
| WUXI APPTEC CO., LTD. CLASS H | 2.7 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 2.7 % |
Constituent Breakdown
| Number of holdings | 48 |
| Herfindahl-Hirschman Index | 295 |
| Wgt avg mkt cap (mns) | $65,778 |
| Large cap (>$10bn) | 73.8% |
| Mid cap ($2-10bn) | 15.7% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 15.7% |
| Emerging mkts. | 84.3% |
Country Exposure
 |
CHINA | 92.9 % |
 |
HONG KONG | 2.7 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -4.9% | -13.0% | -22.5% | -- | -- | -- | -23.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.51 | 11% |
| MSCI EAFE | 0.76 | 22% |
| MSCI Emg Mkts | 1.12 | 51% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.61% |
| ADV of underlying (mns) | $4,937 |
Technical Indicators
| Recent close | $10.86 |
| 30d moving avg. | $11.29 |
| Annualized volatility | 28.1% |
| Relative strength (RSI) | 36 |
| Short interest (ETF) | 0.1% |
| 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. KEJI |
Expenses vs. KEJI |
ALTAR Score™ vs. KEJI |
|---|---|---|---|---|
| MCH | Matthews China Active ETF | 32.3% | +4 bp | +4.9% |
| TCHI | iShares MSCI China Multisector Tech ETF | 29.2% | -16 bp | +0.9% |
| KESG | KraneShares MSCI China ESG Leaders Index ETF | 28.6% | -16 bp | +7.8% |
| MCHI | iShares MSCI China ETF | 27.9% | -17 bp | +6.8% |
| FXI | iShares China Large-Cap ETF | 27.3% | -1 bp | +9.5% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 26.9% | -43 bp | +3.0% |
| FLCH | Franklin FTSE China ETF | 26.5% | -56 bp | +7.0% |
| KALL | KraneShares MSCI All China Index ETF | 26.0% | -26 bp | +7.1% |
| GXC | SPDR S&P China ETF | 24.8% | -16 bp | +6.9% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 24.0% | -6 bp | -5.0% |
Risk and Returns: KEJI 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 9/20/2023
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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
KEJI
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™
KEJI
3.8%
Cat. Avg
7.7%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 3.8% |
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 188 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.7% and a standard deviation of
4.1%. KEJI's ALTAR Score™ is approximately
1.0 standard deviations
below
the category average. This places KEJI in the 17th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KEJI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
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| Bid/Ask Spread | |
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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) |
|
|---|---|---|---|
| KEJI | 75.0 | 61.3 | 136.3 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .