WRND
IQ Global Equity R&D Leaders ETF
WRND tracks an index that seeks to provide exposure to global large- and mid-cap companies that have high research and development spending, and attractive future growth potential.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
18 bp
EXPENSES
$6.5 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | New York Life |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 08, 2022 |
| Assets (mns) | $6 |
| Expense ratio | 18 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| AMAZON.COM INC | 5.9 % |
| ALPHABET INC. CLASS A | 5.7 % |
| META PLATFORMS INC | 3.9 % |
| APPLE INC | 3.8 % |
| MERCK & CO. INC. | 3.1 % |
| MICROSOFT CORP | 3.0 % |
| SAMSUNG ELECTRONICS CO LTD | 2.8 % |
| ROCHE HOLDING AG-BR | 2.1 % |
| VOLKSWAGEN AG-PFD | 1.9 % |
| ASTRAZENECA PLC | 1.5 % |
Constituent Breakdown
| Number of holdings | 206 |
| Herfindahl-Hirschman Index | 171 |
| Wgt avg mkt cap (mns) | $682,725 |
| Large cap (>$10bn) | 96.2% |
| Mid cap ($2-10bn) | 1.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 86.3% |
| Emerging mkts. | 13.7% |
Country Exposure
 |
UNITED STATES | 54.6 % |
 |
JAPAN | 8.0 % |
 |
GERMANY | 7.8 % |
 |
CHINA | 7.6 % |
 |
SOUTH KOREA | 4.4 % |
 |
SWITZERLAND | 3.9 % |
 |
BRITAIN | 3.2 % |
 |
TAIWAN | 2.1 % |
 |
FRANCE | 1.9 % |
 |
NETHERLANDS | 1.5 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.1% | 16.9% | 20.5% | -- | -- | -- | 9.8% | Volatility | 12.1% | 12.9% | 17.8% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 89% |
| MSCI EAFE | 0.98 | 83% |
| MSCI Emg Mkts | 0.88 | 69% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.27% |
| ADV of underlying (mns) | $253,790 |
Technical Indicators
| Recent close | $28.87 |
| 30d moving avg. | $29.87 |
| Annualized volatility | 20.2% |
| Relative strength (RSI) | 61 |
| 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. WRND |
Expenses vs. WRND |
ALTAR Score™ vs. WRND |
|---|---|---|---|---|
| LRND | IQ U.S. Large Cap R&D Leaders ETF | 55.6% | -4 bp | -1.1% |
| QRFT | Qraft Ai-Enhanced U.S. Large Cap ETF | 44.5% | +57 bp | -2.8% |
| EPS | WisdomTree U.S. LargeCap Fund | 37.5% | -10 bp | -0.9% |
| ESGG | FlexShares STOXX Global ESG Select Index Fund | 37.3% | +24 bp | -1.9% |
| SPXN | ProShares S&P 500 Ex-Financials ETF | 36.9% | -9 bp | -1.8% |
| RVRB | Reverb ETF | 36.6% | +12 bp | -2.1% |
| MGC | Vanguard Mega Cap ETF | 36.4% | -11 bp | -2.0% |
| IWL | iShares Russell Top 200 ETF | 36.2% | -3 bp | -2.1% |
| IOO | iShares Global 100 ETF | 36.1% | +23 bp | -2.2% |
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | 36.1% | -11 bp | -1.9% |
Risk and Returns: WRND 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
| 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 | --% |
Based on closing prices from 7/25/2024
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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
WRND
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™
WRND
7.1%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.1% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
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%. WRND's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places WRND in the 74th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
WRND
Peer Average
Recent Trends
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 |
| WRND (18 bp) Percentile rank | 2 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| WRND | 18.0 | 27.1 | 45.1 |
| Peer Avg. | 51.3 | 36.4 | 87.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .