KOIN
Innovation Shares NextGen Protocol ETF
KOIN seeks to give investors access to companies that may benefit from a blockchain technology.
Fund Basics
| Fund sponsor | Innovation Shares |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 29, 2018 |
| Assets (mns) | $14 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| AMAZON.COM INC | 3.4 % |
| MICROSOFT CORP | 3.3 % |
| ORACLE CORP | 3.1 % |
| SALESFORCE.COM INC | 3.0 % |
| VMWARE, INC. CLASS A | 2.9 % |
| DOCUSIGN, INC. | 2.8 % |
| TMX GROUP INC | 2.8 % |
| INTERCONTINENTALEXCHANGE INC | 2.8 % |
| SAP AG | 2.8 % |
| INTUIT INC | 2.7 % |
Constituent Breakdown
| Number of holdings | 39 |
| Herfindahl-Hirschman Index | 260 |
| Wgt avg mkt cap (mns) | $205,685 |
| Large cap (>$10bn) | 57.0% |
| Mid cap ($2-10bn) | 14.9% |
| Small cap (<$2bn) | 5.0% |
| Developed mkts. | 82.1% |
| Emerging mkts. | 17.9% |
Country Exposure
 |
UNITED STATES | 43.8 % |
 |
JAPAN | 11.7 % |
 |
CHINA | 10.1 % |
 |
SOUTH KOREA | 7.7 % |
 |
GERMANY | 5.2 % |
 |
FRANCE | 4.8 % |
 |
CANADA | 2.8 % |
 |
TAIWAN | 2.6 % |
 |
SINGAPORE | 2.6 % |
 |
SWITZERLAND | 2.6 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 4.4% | -5.6% | -7.9% | 6.8% | 7.8% | -- | 7.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.94 | 80% |
| MSCI EAFE | 0.94 | 80% |
| MSCI Emg Mkts | 0.83 | 63% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.45% |
| ADV of underlying (mns) | $22,822 |
Technical Indicators
| Recent close | $28.94 |
| 30d moving avg. | $28.54 |
| Annualized volatility | 19.0% |
| Relative strength (RSI) | 58 |
| Short interest (ETF) | 2.5% |
| 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. KOIN |
Expenses vs. KOIN |
ALTAR Score™ vs. KOIN |
|---|---|---|---|---|
| BLCN | Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 24.2% | -7 bp | -5.9% |
| WFH | Direxion Work From Home ETF | 21.5% | -30 bp | -5.8% |
| LEGR | First Trust Indxx Innovative Transaction & Process ETF | 20.9% | -10 bp | +2.3% |
| IETC | iShares Evolved U.S. Technology ETF | 20.7% | -57 bp | -1.4% |
| AIQ | Global X Future Analytics Tech ETF | 20.4% | -7 bp | -1.7% |
| MBCC | Monarch Blue Chips Core ETF | 20.2% | +50 bp | -2.5% |
| TECB | iShares US Tech Breakthrough Multisector ETF | 20.0% | -35 bp | -1.5% |
| BLKC | Invesco Alerian Galaxy Blockchain Users and Decentralized Co | 19.9% | -15 bp | -3.4% |
| BLOK | Amplify Transformational Data Sharing ETF | 19.6% | -4 bp | -7.5% |
| IGM | iShares Expanded Tech Sector ETF | 19.4% | -35 bp | -1.5% |
Risk and Returns: KOIN 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 6/7/2023
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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
KOIN
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™
KOIN
5.8%
Cat. Avg
3.9%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.8% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 343 funds in the Global Equities category, with an average ALTAR Score™
of 3.9% and a standard deviation of
4.9%. KOIN's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places KOIN in the 65th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KOIN
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) |
|
|---|---|---|---|
| KOIN | 75.0 | 44.8 | 119.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .