KLDW
Knowledge Leaders Developed World ETF
GaveKal Knowledge Leaders Developed World ETF tracks an index of highly innovative companies from developed markets
Fund Basics
| Fund sponsor | Exchange Traded Concepts |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 07, 2015 |
| Assets (mns) | $131 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| DAINIPPON SCREEN MFG CO LTD | 1.7 % |
| ATLAS COPCO AB CLASS A | 1.7 % |
| GROUPE BRUXELLES LAMBERT SA | 1.6 % |
| HARVEY NORMAN HOLDINGS LTD | 1.6 % |
| VOLVO AB-B SHS | 1.6 % |
| AMPHENOL CORP-CL A | 1.5 % |
| ACCENTURE PLC-CL A | 1.5 % |
| SECOM CO LTD | 1.5 % |
| SAGE GROUP PLC | 1.4 % |
| KAO CORP | 1.4 % |
Constituent Breakdown
| Number of holdings | 112 |
| Herfindahl-Hirschman Index | 105 |
| Wgt avg mkt cap (mns) | $76,722 |
| Large cap (>$10bn) | 70.3% |
| Mid cap ($2-10bn) | 27.4% |
| Small cap (<$2bn) | 1.5% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 34.3 % |
 |
UNITED STATES | 26.4 % |
 |
BRITAIN | 5.2 % |
 |
SWEDEN | 4.4 % |
 |
GERMANY | 3.9 % |
 |
CANADA | 3.8 % |
 |
IRELAND | 3.6 % |
 |
AUSTRALIA | 2.9 % |
 |
BELGIUM | 2.6 % |
 |
SWITZERLAND | 2.3 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 4.1% | 11.3% | 3.4% | 1.0% | 7.0% | -- | 7.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.94 | 87% |
| MSCI EAFE | 1.01 | 91% |
| MSCI Emg Mkts | 0.78 | 59% |
Liquidity Measures
| Avg. volume (000) | 4 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $23,883 |
Technical Indicators
| Recent close | $43.11 |
| 30d moving avg. | $39.74 |
| Annualized volatility | 18.0% |
| Relative strength (RSI) | 78 |
| 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)
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. KLDW |
Expenses vs. KLDW |
ALTAR Score™ vs. KLDW |
|---|---|---|---|---|
| PEXL | Pacer US Export Leaders ETF | 12.1% | -15 bp | +0.2% |
| PSET | Principal Quality ETF | 11.2% | -60 bp | +0.8% |
| RSPT | Invesco S&P 500 Equal Weight Technology ETF | 11.0% | -35 bp | +0.8% |
| EFAD | ProShares MSCI EAFE Dividend Growers ETF | 10.0% | -25 bp | +0.2% |
| MOTE | VanEck Morningstar ESG Moat ETF | 10.0% | -26 bp | +0.2% |
Risk and Returns: KLDW 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 4/24/2024
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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
KLDW
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™
KLDW
4.9%
Cat. Avg
3.6%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.9% |
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 347 funds in the Global Equities category, with an average ALTAR Score™
of 3.6% and a standard deviation of
5.0%. KLDW's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places KLDW in the 60th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KLDW
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) |
|
|---|---|---|---|
| KLDW | 75.0 | 7.0 | 82 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .