SUBS
Fount Subscription Economy ETF
SUBS tracks a modified market-cap-weighted index of global companies that provide products and/or services for recurring subscription revenue.
Fund Basics
| Fund sponsor | Exchange Traded Concepts |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 27, 2021 |
| Assets (mns) | $2 |
| Expense ratio | 70 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
| MICROSOFT CORP | 11.5 % |
| ALPHABET INC. CLASS A | 4.8 % |
| META PLATFORMS INC | 4.3 % |
| NETFLIX INC | 3.2 % |
| ORACLE CORP | 3.1 % |
| AMAZON.COM INC | 2.9 % |
| SALESFORCE.COM INC | 2.7 % |
| TENCENT HOLDINGS LTD | 2.5 % |
| T-MOBILE US, INC. | 2.2 % |
| CADENCE DESIGN SYS INC | 2.2 % |
Constituent Breakdown
| Number of holdings | 49 |
| Herfindahl-Hirschman Index | 323 |
| Wgt avg mkt cap (mns) | $498,451 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 97.2% |
| Emerging mkts. | 2.8% |
Country Exposure
 |
UNITED STATES | 74.9 % |
 |
CANADA | 6.8 % |
 |
CHINA | 6.3 % |
 |
JAPAN | 6.0 % |
 |
BRITAIN | 2.7 % |
 |
SWITZERLAND | 1.7 % |
 |
FRANCE | 1.6 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 13.8% | 1.9% | -- | -- | -- | -- | -16.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 87% |
| MSCI EAFE | 0.98 | 77% |
| MSCI Emg Mkts | 0.81 | 55% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 1.16% |
| ADV of underlying (mns) | $34,661 |
Technical Indicators
| Recent close | $19.00 |
| 30d moving avg. | $18.76 |
| Annualized volatility | 22.7% |
| Relative strength (RSI) | 58 |
| 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. SUBS |
Expenses vs. SUBS |
ALTAR Score™ vs. SUBS |
|---|
Risk and Returns: SUBS 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
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 6/2/2023
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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
SUBS
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™
SUBS
0.0%
Cat. Avg
3.9%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 0.0% |
Recommendation
Category Overview
There are 343 funds in the Global Equities category, with an average ALTAR Score™
of 3.9% and a standard deviation of
4.9%. SUBS's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places SUBS in the percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
SUBS
Peer Average
Recent Trends
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) |
|
|---|---|---|---|
| SUBS | 70.0 | 115.6 | 185.6 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .