RNRG

Global X Renewable Energy Producers ETF

The Global X YieldCo & Renewable Energy Income ETF seeks to provide investors with exposure to an emerging class of income-generating renewable energy assets called YieldCos.


Global

EQUITY

Rules-Based

MANAGEMENT STYLE

66 bp

EXPENSES

$37.7 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorGlobal X Management Co LLC
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateMay 27, 2015
Assets (mns)$38
Expense ratio66 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
MERIDIAN ENERGY LTD 6.5 %
DONG ENERGY A/S 5.9 %
BROOKFIELD RENEWABLE PARTNERS LP 5.8 %
VERBUND AG 5.7 %
EDP RENOVAVEIS SA 5.1 %
CENTRAIS ELETRICAS BRASILIER 4.8 %
NEOEN S.A. 4.8 %
RUSHYDRO JSC 4.5 %
MIGHTY RIVER POWER 4.4 %
ENGIE BRASIL ENERGIA S.A. 4.3 %
Constituent Breakdown
Number of holdings42
Herfindahl-Hirschman Index 376
Wgt avg mkt cap (mns)$7,270
Large cap (>$10bn)21.2%
Mid cap ($2-10bn)64.9%
Small cap (<$2bn)12.8%
Developed mkts.76.5%
Emerging mkts.23.5%
Country Exposure
NEW ZEALAND 14.0 %
UNITED STATES 10.5 %
BRAZIL 10.0 %
CANADA 6.6 %
SPAIN 6.3 %
DENMARK 6.0 %
BERMUDA 5.8 %
AUSTRIA 5.7 %
FRANCE 4.8 %
RUSSIA 4.5 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns -12.7% -17.3% -15.8% -14.5% -4.5% -- -1.8%
Volatility 19.3% 20.8% 21.0% 21.0% 23.0% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.9452%
MSCI EAFE1.0459%
MSCI Emg Mkts0.8036%
Liquidity Measures
Avg. volume (000)11
Turnover0.3%
Avg. Bid/Ask (% of price)0.68%
ADV of underlying (mns)$1,177
Technical Indicators
Recent close$10.20
30d moving avg.$10.00
Annualized volatility23.5%
Relative strength (RSI)55
Short interest (ETF)0.2%
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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Risk and Returns: RNRG vs. Comps (1 YR)

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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 --%
1.9 17.3 1.3 4.4% --
Based on closing prices from 7/19/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
RNRG



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™

RNRG

4.6%

Cat. Avg

4.0%

Fund Category: Global

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™4.6%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

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%. RNRG's ALTAR Score™ is approximately 0.1 standard deviations above the category average. This places RNRG in the 56th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
RNRG
Peer Average
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
RNRG (66 bp) Percentile rank 73
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
RNRG 66.0 68.1 134.1
Peer Avg. 56.6 40.2 96.8
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .