BPAY
BlackRock Future Financial and Technology ETF
BPAY is an actively managed fund of global companies involved in innovative technologies used and applied in financial services.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
5.4 M
ASSETS UNDER MGMT
70 bp
EXPENSES
Fund Basics
| Fund sponsor | Blackrock |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 16, 2022 |
| Assets (mns) | $5 |
| Expense ratio | 70 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| DISCOVER FINANCIAL SERVICES | 5.8 % |
| GLOBAL PAYMENTS INC. | 5.0 % |
| KASPI.KZ JSC SPONSORED GDR REGS | 4.6 % |
| AMERICAN EXPRESS CO | 4.2 % |
| PAYPAL HOLDINGS INC | 4.1 % |
| FIDELITY NATIONAL INFORMATION SERVICES, | 4.1 % |
| FISERV, INC. | 3.9 % |
| TEMENOS GROUP AG-REG | 3.9 % |
| WEX INC | 3.7 % |
| SCHWAB (CHARLES) CORP | 3.6 % |
Constituent Breakdown
| Number of holdings | 36 |
| Herfindahl-Hirschman Index | 340 |
| Wgt avg mkt cap (mns) | $51,547 |
| Large cap (>$10bn) | 64.7% |
| Mid cap ($2-10bn) | 23.0% |
| Small cap (<$2bn) | 12.3% |
| Developed mkts. | 87.6% |
| Emerging mkts. | 12.4% |
Country Exposure
 |
UNITED STATES | 58.4 % |
 |
BRAZIL | 7.7 % |
 |
ITALY | 4.7 % |
 |
KAZAKHSTAN | 4.6 % |
 |
SWITZERLAND | 3.9 % |
 |
FRANCE | 3.6 % |
 |
SOUTH KOREA | 3.3 % |
 |
CAYMAN ISLANDS | 3.1 % |
 |
NETHERLANDS | 1.3 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.2% | 31.0% | -- | -- | -- | -- | 5.2% | Volatility | 16.8% | 17.3% | 20.5% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.42 | 56% |
| MSCI EAFE | 1.32 | 57% |
| MSCI Emg Mkts | 1.15 | 43% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.43% |
| ADV of underlying (mns) | $9,975 |
Technical Indicators
| Recent close | $26.85 |
| 30d moving avg. | $25.05 |
| Annualized volatility | 25.3% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.6% |
| 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. BPAY |
Expenses vs. BPAY |
ALTAR Score™ vs. BPAY |
|---|---|---|---|---|
| IPAY | ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund | 40.0% | +5 bp | -3.5% |
| FINX | Global X FinTech ETF | 24.6% | -2 bp | -5.5% |
| RSPF | Invesco S&P 500 Equal Weight Financials ETF | 15.9% | -30 bp | -2.1% |
| FDFF | Fidelity Disruptive Finance ETF | 14.7% | -20 bp | -4.0% |
| BFIIX | Baron FinTech | 14.2% | +5 bp | -4.7% |
| XLF | Financial Select Sector SPDR Fund | 12.5% | -61 bp | -2.9% |
| FMQQ | FMQQ The Next Frontier Internet & Ecommerce ETF | 12.5% | +16 bp | -6.9% |
| VFH | Vanguard Financials ETF | 12.0% | -60 bp | -2.5% |
| FNCL | Fidelity MSCI Financials Index ETF | 11.3% | -62 bp | -2.6% |
| DTEC | ALPS Disruptive Technologies ETF | 11.2% | -20 bp | -4.5% |
Risk and Returns: BPAY 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 11/21/2024
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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
BPAY
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 Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
BPAY
8.1%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 376 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.7%. BPAY's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places BPAY in the 81st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BPAYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| BPAY (70 bp) Percentile rank | 80 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BPAY | 70.0 | 42.9 | 112.9 |
| Peer Avg. | 74.7 | 39.0 | 113.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .