FMQQ

FMQQ The Next Frontier Internet & Ecommerce ETF

FMQQ is a passively managed fund that invests in internet and e-commerce companies from emerging and frontier markets.


Emerging Market

EQUITY

Rules-Based

MANAGEMENT STYLE

29.3 M

ASSETS UNDER MGMT

86 bp

EXPENSES
Fund Basics
Fund sponsorExchange Traded Concepts
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateSep 27, 2021
Assets (mns)$29
Expense ratio86 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionCommittee
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
RELIANCE INDS-SPONS GDR 144A 12.8 %
NU HOLDINGS LTD. CLASS A 7.2 %
MERCADOLIBRE INC 7.1 %
SEA LTD. (SINGAPORE) SPONSORED ADR CLASS 6.2 %
KASPI.KZ JSC SPONSORED GDR REGS 5.6 %
ZOMATO LTD. 5.5 %
BAJAJ FINANCE LIMITED 4.5 %
XP INC. CLASS A 4.1 %
GRAB HOLDINGS LTD. (SINGAPORE) CLASS A 4.0 %
MAKEMYTRIP LTD 3.9 %
Constituent Breakdown
Number of holdings47
Herfindahl-Hirschman Index 538
Wgt avg mkt cap (mns)$57,879
Large cap (>$10bn)76.3%
Mid cap ($2-10bn)22.0%
Small cap (<$2bn)1.7%
Developed mkts.21.5%
Emerging mkts.78.5%
Country Exposure
INDIA 37.5 %
SINGAPORE 10.2 %
BRAZIL 8.9 %
ARGENTINA 7.5 %
CAYMAN ISLANDS 7.2 %
SOUTH KOREA 7.0 %
KAZAKHSTAN 5.6 %
LUXEMBOURG 3.5 %
POLAND 2.8 %
INDONESIA 1.9 %
Historical Performance


Standardized Performance (as of 11/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 16.8% 21.2% 10.1% -- -- -- -16.6%
Volatility 15.7% 16.3% 19.8% 26.9% -- -- --
Market Correlations
versus...BetaR-squared
S&P 5001.2470%
MSCI EAFE1.1862%
MSCI Emg Mkts1.1356%
Liquidity Measures
Avg. volume (000)7
Turnover0.3%
Avg. Bid/Ask (% of price)0.52%
ADV of underlying (mns)$2,950
Technical Indicators
Recent close$12.89
30d moving avg.$13.58
Annualized volatility26.1%
Relative strength (RSI)51
Short interest (ETF)0.8%
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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Risk and Returns: FMQQ vs. Comps (1 YR)

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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 --%
2.8 26.6 3.6 0.8% --
Based on closing prices from 12/20/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
FMQQ



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

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.

ALTAR Score™

FMQQ

1.3%

Cat. Avg

7.9%


ALTAR Score™ Calculation

Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™ of 7.9% and a standard deviation of 4.2%. FMQQ's ALTAR Score™ is approximately 1.6 standard deviations below the category average. This places FMQQ in the 6th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

FMQQ
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
Emerging Market Equity ETFs
# of ETFs 103
Avg. Expense Ratio 64.6 bp
Std. Deviation 29 bp
FMQQ (86 bp) Percentile rank 77
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
FMQQ 86.0 51.8 137.8
Peer Avg. 64.9 45.4 110.2
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .