KOKU
Xtrackers MSCI Kokusai Equity ETF
KOKU tracks a market-cap-weighted index of large- and midcap developed market stocks outside of Japan.
International
EQUITY
Passive
MANAGEMENT STYLE
9 bp
EXPENSES
$576.8 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Deutsche Bank |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 08, 2020 |
| Assets (mns) | $577 |
| Expense ratio | 9 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 | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 5.2 % |
| MICROSOFT CORP | 4.9 % |
| APPLE INC | 4.9 % |
| AMAZON.COM INC | 2.7 % |
| META PLATFORMS INC | 1.7 % |
| ALPHABET INC. CLASS A | 1.6 % |
| ALPHABET INC. CLASS C | 1.4 % |
| BROADCOM INC. | 1.2 % |
| ELI LILLY & CO | 1.1 % |
| JPMORGAN CHASE & CO | 0.9 % |
Constituent Breakdown
| Number of holdings | 1248 |
| Herfindahl-Hirschman Index | 110 |
| Wgt avg mkt cap (mns) | $646,021 |
| Large cap (>$10bn) | 97.3% |
| Mid cap ($2-10bn) | 2.1% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.2% |
Country Exposure
 |
UNITED STATES | 72.4 % |
 |
BRITAIN | 4.3 % |
 |
CANADA | 3.1 % |
 |
SWITZERLAND | 3.0 % |
 |
FRANCE | 2.7 % |
 |
GERMANY | 2.2 % |
 |
AUSTRALIA | 1.9 % |
 |
NETHERLANDS | 1.6 % |
 |
IRELAND | 1.4 % |
 |
DENMARK | 1.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.4% | 21.6% | 20.2% | 7.7% | -- | -- | 15.1% | Volatility | 10.7% | 11.2% | 16.4% | 16.7% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.97 | 98% |
| MSCI EAFE | 0.93 | 84% |
| MSCI Emg Mkts | 0.69 | 47% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.41% |
| ADV of underlying (mns) | $567,070 |
Technical Indicators
| Recent close | $94.71 |
| 30d moving avg. | $96.68 |
| Annualized volatility | 17.7% |
| Relative strength (RSI) | 63 |
| Short interest (ETF) | 0.0% |
| 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. KOKU |
Expenses vs. KOKU |
ALTAR Score™ vs. KOKU |
|---|---|---|---|---|
| TOK | iShares MSCI Kokusai ETF | 93.4% | +17 bp | -0.2% |
| URTH | iShares MSCI World ETF | 90.2% | +15 bp | -0.1% |
| ACWI | iShares MSCI ACWI ETF | 81.8% | +23 bp | +0.0% |
| PBUS | Invesco MSCI USA ETF | 74.7% | -5 bp | -0.2% |
| GUSA | Goldman Sachs MarketBeta U.S. 1000 Equity ETF | 74.6% | +2 bp | -0.3% |
| IYY | iShares Dow Jones U.S. ETF | 74.4% | +11 bp | -0.4% |
| ITOT | iShares Core S&P Total U.S. Stock Market ETF | 74.4% | -6 bp | -0.4% |
| ILCB | iShares Morningstar U.S. Equity ETF | 74.2% | -6 bp | -0.2% |
| IWB | iShares Russell 1000 ETF | 74.2% | +6 bp | -0.3% |
| IWV | iShares Russell 3000 ETF | 74.1% | +11 bp | -0.5% |
Risk and Returns: KOKU 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
KOKU
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™
KOKU
5.4%
Cat. Avg
7.2%
Fund Category: International
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.4% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. KOKU's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places KOKU in the 24th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KOKU
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive International Equity ETFs |
| # of ETFs | 77 |
| Avg. Expense Ratio | 38.8 bp |
| Std. Deviation | 21.2 bp |
| KOKU (9 bp) Percentile rank | 8 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| KOKU | 9.0 | 41.4 | 50.4 |
| Peer Avg. | 44.8 | 20.1 | 64.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .