WGMI
Valkyrie Bitcoin Miners ETF
WGMI provides active exposure to companies that derive at least 50% of their revenue from bitcoin mining operations and/or services related to bitcoin mining.
Fund Basics
Fund sponsor | Valkyrie Funds LLC |
Category | Global Equities |
Asset class | Equity |
Website | link... |
Inception date | Feb 07, 2022 |
Assets (mns) | $28 |
Expense ratio | 75 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Annually |
Taxation | 1099 |
Stock selection | Proprietary |
Weighting | Proprietary |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
MARATHON DIGITAL HOLDINGS INC | 11.6 % |
CLEANSPARK, INC. | 11.3 % |
RIOT BLOCKCHAIN INC | 10.9 % |
CIPHER MINING INC | 9.8 % |
IRIS ENERGY LTD. | 7.6 % |
NVIDIA CORP | 4.9 % |
BIT DIGITAL, INC. | 4.5 % |
BITFARMS LTD. | 4.3 % |
HUT 8 MINING CORP. | 4.3 % |
AEROHIVE NETWORKS INC | 4.2 % |
Constituent Breakdown
Number of holdings | 19 |
Herfindahl-Hirschman Index | 728 |
Wgt avg mkt cap (mns) | $56,613 |
Large cap (>$10bn) | 8.5% |
Mid cap ($2-10bn) | 0.0% |
Small cap (<$2bn) | 91.5% |
Developed mkts. | 97.5% |
Emerging mkts. | 2.5% |
Country Exposure
UNITED STATES | 68.1 % | |
CANADA | 9.9 % | |
AUSTRALIA | 8.0 % | |
TAIWAN | 1.2 % | |
BRITAIN | 1.2 % | |
SOUTH KOREA | 1.2 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
150.1% | 97.2% | -- | -- | -- | -- | -38.6% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 3.06 | 37% |
MSCI EAFE | 2.80 | 30% |
MSCI Emg Mkts | 2.34 | 23% |
Liquidity Measures
Avg. volume (000) | 146 |
Turnover | 6.5% |
Avg. Bid/Ask (% of price) | 0.30% |
ADV of underlying (mns) | $20,311 |
Technical Indicators
Recent close | $12.60 |
30d moving avg. | $9.31 |
Annualized volatility | 103.9% |
Relative strength (RSI) | 57 |
Short interest (ETF) | 5.7% |
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. WGMI |
Expenses vs. WGMI |
ALTAR Score™ vs. WGMI |
---|---|---|---|---|
BKCH | Global X Blockchain ETF | 58.6% | -25 bp | +80.6% |
IBLC | iShares Blockchain and Tech ETF | 45.0% | -28 bp | +72.8% |
CRPT | First Trust SkyBridge Crypto Industry and Digital Economy ET | 37.1% | +10 bp | +94.7% |
SATO | Invesco Alerian Galaxy Crypto Economy ETF | 36.5% | -14 bp | +83.6% |
GFOF | Grayscale Future of Finance ETF | 36.4% | -5 bp | +91.4% |
BITQ | Bitwise Crypto Industry Innovators ETF | 28.2% | +10 bp | +95.7% |
FDIG | Fidelity Crypto Industry and Digital Payments ETF | 22.6% | -36 bp | +104.0% |
BLOK | Amplify Transformational Data Sharing ETF | 19.4% | 0 bp | +104.1% |
BLKC | Invesco Alerian Galaxy Blockchain Users and Decentralized Co | 17.6% | -14 bp | +102.8% |
STCE | Schwab Crypto Thematic ETF | 15.7% | -45 bp | +102.6% |
Risk and Returns: WGMI 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 12/1/2023
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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
WGMI
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™
WGMI
-104.9%
Cat. Avg
3.6%
Fund Category: Global Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | -104.9% |
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 342 funds in the Global Equities category, with an average ALTAR Score™
of 3.6% and a standard deviation of
4.9%. WGMI's ALTAR Score™ is approximately
22.3 standard deviations
below
the category average. This places WGMI in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
WGMI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
Volume | |
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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) |
|
---|---|---|---|
WGMI | 75.0 | 30.3 | 105.3 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .