SMOG
VanEck Low Carbon Energy ETF
VanEck Vectors Global Alternative Energy ETF seeks investment results that correspond to the price and yield of the Ardour Global Index, which tracks companies primarily engaged in the business of alternative energy.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
129.2 M
ASSETS UNDER MGMT
61 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 26, 2007 |
| Assets (mns) | $129 |
| Expense ratio | 61 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TESLA MOTORS INC | 11.8 % |
| NEXTERA ENERGY GROUP | 7.7 % |
| IBERDROLA SA | 7.1 % |
| BYD CO LTD-H | 6.9 % |
| ENEL SPA | 6.3 % |
| FIRST SOLAR INC | 3.9 % |
| LI AUTO, INC. SPONSORED ADR CLASS A | 3.9 % |
| VESTAS WIND SYSTEMS A/S | 3.5 % |
| OWENS CORNING | 3.5 % |
| DONG ENERGY A/S | 2.8 % |
Constituent Breakdown
| Number of holdings | 66 |
| Herfindahl-Hirschman Index | 454 |
| Wgt avg mkt cap (mns) | $120,793 |
| Large cap (>$10bn) | 70.7% |
| Mid cap ($2-10bn) | 26.6% |
| Small cap (<$2bn) | 2.6% |
| Developed mkts. | 73.4% |
| Emerging mkts. | 26.6% |
Country Exposure
 |
UNITED STATES | 37.7 % |
 |
CHINA | 16.9 % |
 |
SPAIN | 8.8 % |
 |
DENMARK | 7.6 % |
 |
ITALY | 6.6 % |
 |
BRAZIL | 3.3 % |
 |
SOUTH KOREA | 2.9 % |
 |
NEW ZEALAND | 2.9 % |
 |
IRELAND | 2.5 % |
 |
CANADA | 2.3 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -7.4% | 10.5% | -2.8% | -15.6% | 9.9% | 6.9% | 6.4% | Volatility | 20.9% | 22.0% | 22.5% | 27.0% | 31.0% | 25.8% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.11 | 49% |
| MSCI EAFE | 1.14 | 55% |
| MSCI Emg Mkts | 1.15 | 54% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.68% |
| ADV of underlying (mns) | $19,336 |
Technical Indicators
| Recent close | $100.16 |
| 30d moving avg. | $107.77 |
| Annualized volatility | 27.3% |
| Relative strength (RSI) | 47 |
| 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. SMOG |
Expenses vs. SMOG |
ALTAR Score™ vs. SMOG |
|---|---|---|---|---|
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 31.1% | -16 bp | +3.3% |
| ERTH | Invesco MSCI Sustainable Future ETF | 27.6% | +1 bp | +1.3% |
| ICLN | iShares Global Clean Energy ETF | 26.8% | -20 bp | +3.7% |
| SOLR | Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund | 25.0% | +18 bp | +2.7% |
| FRNW | Fidelity Clean Energy ETF | 24.3% | -22 bp | +0.2% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 24.0% | -3 bp | -5.3% |
| CCSO | Carbon Collective Climate Solutions US Equity ETF | 23.0% | -26 bp | -0.5% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 21.6% | -2 bp | +1.5% |
| BATT | Amplify Lithium & Battery Technology ETF | 21.2% | -2 bp | -2.5% |
| CLNR | IQ Cleaner Transport ETF | 20.7% | -16 bp | +4.5% |
Risk and Returns: SMOG 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
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
SMOG
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
SMOG
2.4%
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%. SMOG's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places SMOG in the 36th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SMOGSELL
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 |
| SMOG (61 bp) Percentile rank | 63 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SMOG | 61.0 | 67.5 | 128.5 |
| Peer Avg. | 57.2 | 40.4 | 97.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .