KROP
Global X AgTech & Food Innovation ETF
KROP passively invests in global companies related to advancing innovation and technologies in the agricultural and food industry space.
Fund Basics
| Fund sponsor | Global X |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 14, 2021 |
| Assets (mns) | $5 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NUTRIEN LTD. | 14.7 % |
| YUAN LONGPING HIGH-TECH AG-A | 13.6 % |
| CORTEVA INC | 13.3 % |
| HEBEI YANGYUAN ZHIHUI BEVERAGE CO., LTD. | 10.7 % |
| HYDROFARM HOLDINGS GROUP, INC. | 5.0 % |
| DEERE & CO | 5.0 % |
| BEYOND MEAT, INC. | 4.8 % |
| NUFARM LTD | 4.8 % |
| HEBEI CHENGDE LOLO CO-A | 4.7 % |
| UNILEVER PLC | 4.5 % |
Constituent Breakdown
| Number of holdings | 28 |
| Herfindahl-Hirschman Index | 875 |
| Wgt avg mkt cap (mns) | $18,632 |
| Large cap (>$10bn) | 36.7% |
| Mid cap ($2-10bn) | 15.8% |
| Small cap (<$2bn) | 32.8% |
| Developed mkts. | 71.4% |
| Emerging mkts. | 28.6% |
Country Exposure
 |
UNITED STATES | 42.3 % |
 |
CHINA | 29.0 % |
 |
CANADA | 15.1 % |
 |
BRITAIN | 5.2 % |
 |
AUSTRALIA | 4.8 % |
 |
SWEDEN | 2.6 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -18.6% | -30.6% | -29.2% | -- | -- | -- | -28.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.06 | 55% |
| MSCI EAFE | 1.17 | 61% |
| MSCI Emg Mkts | 0.82 | 31% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 1.02% |
| ADV of underlying (mns) | $1,936 |
Technical Indicators
| Recent close | $10.80 |
| 30d moving avg. | $11.30 |
| Annualized volatility | 27.6% |
| Relative strength (RSI) | 36 |
| Short interest (ETF) | 1.7% |
| 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. KROP |
Expenses vs. KROP |
ALTAR Score™ vs. KROP |
|---|---|---|---|---|
| YUMY | VanEck Future of Food ETF | 21.9% | +19 bp | +6.4% |
| MOO | VanEck Agribusiness ETF | 21.1% | +3 bp | +10.8% |
| VEGI | iShares MSCI Global Agriculture Producers ETF | 16.7% | -11 bp | +10.4% |
| FTAG | First Trust Indxx Global Agriculture ETF | 14.5% | +20 bp | +12.2% |
| IVEG | iShares Emergent Food and AgTech Multisector ETF | 12.4% | -3 bp | +10.9% |
| HAP | VanEck Natural Resources ETF | 11.1% | 0 bp | +10.0% |
Risk and Returns: KROP 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 9/26/2023
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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
KROP
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™
KROP
-1.8%
Cat. Avg
6.5%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -1.8% |
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 898 funds in the US Equities category, with an average ALTAR Score™
of 6.5% and a standard deviation of
3.1%. KROP's ALTAR Score™ is approximately
2.7 standard deviations
below
the category average. This places KROP in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KROP
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| 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) |
|
|---|---|---|---|
| KROP | 50.0 | 101.5 | 151.5 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .