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)
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. 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.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
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
Peer Group Comparison Sample data. Subscribe for access.
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.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
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 | |
| Bid/Ask Spread | |
| Update |
Today's Trading
Trading data provided for free by IEX. By accessing this data you agree to abide by their Terms of Service.
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 .