RAYS

Global X Solar ETF


Rules-Based, Concentrated

MANAGEMENT MATRIX

TAN

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorGlobal X
CategoryGlobal Equities
Asset classEquity
Websitelink...
Inception dateSep 08, 2021
Assets (mns)$3
Expense ratio50 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
Distributions
Taxation1099
Stock selection
Weighting
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
SUNGROW POWER SUPPLY CO., LTD. CLASS A 8.2 %
SOLAREDGE TECHNOLOGIES, INC. 7.9 %
TIANJIN ZHONGHUAN SEMICOND-A 7.8 %
ENPHASE ENERGY INC 7.6 %
XI'AN LONGI SILICON MATERIALS CO., LTD. 7.3 %
JA SOLAR TECHNOLOGY CO., LTD. CLASS A 5.7 %
SUNRUN INC. 4.7 %
XINYI SOLAR HOLDINGS LTD 4.2 %
DAQO NEW ENERGY CORP. SPONSORED ADR 4.1 %
SHENZHEN S.C NEW ENERGY TECHNOLOGY CORP. 3.5 %
Constituent Breakdown
Number of holdings51
Herfindahl-Hirschman Index 472
Wgt avg mkt cap (mns)$12,321
Large cap (>$10bn)45.3%
Mid cap ($2-10bn)35.1%
Small cap (<$2bn)7.7%
Developed mkts.36.7%
Emerging mkts.63.3%
Country Exposure
CHINA 54.2 %
UNITED STATES 28.8 %
SOUTH KOREA 3.7 %
TAIWAN 2.1 %
GERMANY 1.9 %
NORWAY 1.8 %
BRITAIN 1.8 %
CANADA 1.4 %
SWITZERLAND 1.0 %
INDIA 0.7 %
Historical Performance


Standardized Annual Returns (as of 09/30/2021)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
-- -- -- -- -- -- --
Market Correlations
versus...BetaR-squared
S&P 5000.000%
MSCI EAFE0.000%
MSCI Emg Mkts0.000%
Liquidity Measures
Avg. volume (000)4
Turnover4.0%
Avg. Bid/Ask (% of price)0.30%
ADV of underlying (mns)$5,959
Technical Indicators
Recent close$25.83
30d moving avg.$24.07
Annualized volatility0.0%
Relative strength (RSI)57
Short interest (ETF)5.5%
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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Results & Estimates
  2016 2017 2018 2019 2020 2021E 2022E  
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
  2020 2021E Fwd Est 2022E
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 --%
2.3 32.2 4.4 0.6% --
Based on closing prices from 10/26/2021
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
RAYS



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™

RAYS

1.1%

Cat. Avg

3.2%

Fund Category: Global Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™1.1%
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 252 funds in the Global Equities category, with an average ALTAR Score™ of 3.2% and a standard deviation of 3.9%. RAYS's ALTAR Score™ is approximately 0.6 standard deviations below the category average. This places RAYS in the 29th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
RAYS
Peer Average
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)
RAYS 50.0 30.4 80.4
Peer Avg. 69.0 9.4 78.4
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.