OCEN
IQ Clean Oceans ETF
OCEN tracks a market-cap-weighted index of globally-listed companies that are believed to contribute in achieving a cleaner ocean through reduced pollution and increased resource efficiency.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
45 bp
EXPENSES
$5.0 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | New York Life |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 21, 2021 |
| Assets (mns) | $5 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NEXTERA ENERGY GROUP | 3.7 % |
| ABB LTD. | 3.5 % |
| IBERDROLA SA | 3.2 % |
| NXP SEMICONDUCTORS NV | 3.2 % |
| NATIONAL GRID PLC | 3.2 % |
| INFINEON TECHNOLOGIES AG | 3.1 % |
| MICROSOFT CORP | 3.1 % |
| SCHNEIDER ELECTRIC SA | 3.0 % |
| CADENCE DESIGN SYS INC | 2.9 % |
| ADIDAS AG | 2.9 % |
Constituent Breakdown
| Number of holdings | 83 |
| Herfindahl-Hirschman Index | 213 |
| Wgt avg mkt cap (mns) | $155,360 |
| Large cap (>$10bn) | 89.8% |
| Mid cap ($2-10bn) | 9.4% |
| Small cap (<$2bn) | 0.7% |
| Developed mkts. | 96.6% |
| Emerging mkts. | 3.4% |
Country Exposure
 |
UNITED STATES | 40.1 % |
 |
GERMANY | 11.0 % |
 |
FRANCE | 9.6 % |
 |
SWITZERLAND | 7.0 % |
 |
BRITAIN | 6.5 % |
 |
SPAIN | 5.8 % |
 |
DENMARK | 3.9 % |
 |
NETHERLANDS | 3.4 % |
 |
IRELAND | 1.9 % |
 |
JAPAN | 1.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -0.1% | 5.2% | 11.1% | -- | -- | -- | -4.4% | Volatility | 13.9% | 15.1% | 19.9% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.14 | 77% |
| MSCI EAFE | 1.26 | 89% |
| MSCI Emg Mkts | 1.02 | 59% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.27% |
| ADV of underlying (mns) | $44,498 |
Technical Indicators
| Recent close | $22.10 |
| 30d moving avg. | $22.61 |
| Annualized volatility | 24.4% |
| Relative strength (RSI) | 58 |
| Short interest (ETF) | 0.7% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. OCEN |
Expenses vs. OCEN |
ALTAR Score™ vs. OCEN |
|---|---|---|---|---|
| CLNR | IQ Cleaner Transport ETF | 40.5% | 0 bp | +0.7% |
| GSFP | Goldman Sachs Future Planet Equity ETF | 26.5% | +30 bp | -1.2% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 23.6% | 0 bp | +0.2% |
| SOLR | Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund | 22.6% | +34 bp | -0.7% |
| TEMP | JPMorgan Climate Change Solutions ETF | 22.3% | +4 bp | -0.3% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 20.8% | +14 bp | -2.2% |
| BECO | BlackRock Future Climate and Sustainable Economy ETF | 20.4% | +25 bp | +7.2% |
| NBCT | Neuberger Berman Carbon Transition Infrastructure ETF | 19.4% | +10 bp | -2.1% |
| JXI | iShares Global Utilities ETF | 18.1% | -2 bp | +0.7% |
| SMOG | VanEck Low Carbon Energy ETF | 17.6% | +16 bp | -2.9% |
Risk and Returns: OCEN 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
OCEN
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™
OCEN
5.6%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.6% |
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 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. OCEN's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places OCEN in the 63rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
OCEN
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| OCEN (45 bp) Percentile rank | 28 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| OCEN | 45.0 | 27.3 | 72.3 |
| Peer Avg. | 51.3 | 36.4 | 87.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .