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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$15.15

$350 M

0.00%

$0.00

1.40%

Vitals

YTD Return

-1.4%

1 yr return

-12.5%

3 Yr Avg Return

4.5%

5 Yr Avg Return

-0.2%

Net Assets

$350 M

Holdings in Top 10

38.3%

52 WEEK LOW AND HIGH

$15.3
$14.42
$17.89

Expenses

OPERATING FEES

Expense Ratio 1.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$15.15

$350 M

0.00%

$0.00

1.40%

INDAX - Profile

Distributions

  • YTD Total Return -1.4%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.73%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    ALPS/Kotak India ESG Fund
  • Fund Family Name
    ALPS
  • Inception Date
    Feb 14, 2011
  • Shares Outstanding
    233245
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Nitin Jain

Fund Description

To achieve its objective, under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in equity and equity-linked securities of “Indian companies” that satisfy the Fund’s environmental, social, and governance (“ESG”) criteria.

Indian Companies

Indian companies are those that:

are organized under the laws of, or maintain their principal place of business in, or for which the principal trading market for their securities is in India (which is presently considered an emerging market);
derive 50% or more of their total revenue or profit from either goods or services produced or sales made in India; or
have 50% or more of their assets in India.

Equity securities in which the Fund can invest may include common stocks, preferred stocks, convertible securities, rights and warrants to buy common stocks. The Fund intends to invest in companies of all capitalization sizes. The Fund may invest in securities denominated in Indian Rupees, U.S. dollars, major reserve currencies and currencies of other countries in which it can invest.

In order to make investments in India, the Fund is required by the Securities and Exchange Board of India (“SEBI”) to register as a Foreign Portfolio Investor (“FPI”). The Fund will invest in equity and equity-linked securities of Indian companies that, in the opinion of the Sub-Adviser have one or more of the following characteristics for growth, such as, but not exclusively limited to Indian companies:

that are sector leaders and enjoy leadership in their respective segments;
that are strong asset plays;
that are expected to witness operational and financial improvement due to positive swing in their business cycles;
that are expected to sustain high growth due to their ability to create new markets, develop nascent business segments and operate successfully in niche segments with scale-up potential;
that are expected to create and deliver long-term value due to innovation and IPR development; and
display the potential for value unlocking in the medium- to long-term due to strategic sale, change in management, deregulation, economic legislation and reform.

Because the financials sector (including the banking and insurance industries) represents a significant portion of the total capitalization of the Indian market, under normal circumstances, the Fund will hold a substantial portion of its investments in the financials sector.

ESG Strategy

The Fund will seek to deliver returns in a socially responsive manner by combining a value and growth-oriented investment philosophy with an ESG principle overlay. While identifying investee companies, the Sub-Adviser will incorporate ESG considerations within the fundamental analysis to gain an understanding of the ESG issues applicable to such companies. Subject to the exclusion and scorecard limits discussed below, the ESG considerations are not binding upon the Sub-Adviser in the allocation of the Fund’s portfolio.

The Sub-Adviser is a signatory to the United Nations Principles of Responsible Investing (“UNPRI”) and Climate Action 100+ and takes into account the principles of ESG factors and Responsible Investing (“RI”), which as of the date of this prospectus, are:

Principle 1: We will incorporate ESG issues into investment analysis and decision-making processes.
Principle 2: We will be active owners and incorporate ESG issues into our ownership policies and practices.
Principle 3: We will seek appropriate disclosure on ESG issues by the entities in which we invest.
Principle 4: We will promote acceptance and implementation of the Principles within the investment industry.
Principle 5: We will work together to enhance our effectiveness in implementing the Principles.
Principle 6: We will each report on our activities and progress towards implementing the Principles.

The Sub-Adviser uses various ESG criteria to identify investee companies include (i) environmental factors such as carbon emission, energy consumption and resource efficiency, and use of alternative energy sources; (ii) social causes like safety of employees, participation of women in the workforce / diversity, corporate social responsibility (“CSR”) spending, involvement in the production or development of cluster bombs, land mines or weapons for mass destruction; and (iii) governance parameters like class structure, board composition and independence, executive compensation, and diversity.

For listed equities, the Sub-Adviser integrates sustainability risks and opportunities into its research, analysis and investment decision-making processes, which may be undertaken internally or externally sourced from a third party service provider. It believes that integrating ESG analysis into the investment process provides additional insight into an investee company’s long-term competitive edge and helps identify risks that financial analysis might not fully consider.

The Sub-Adviser will also evaluate companies based on their ability to strategically manage longer-term issues surrounding ESG and the potential impact these strategic management efforts may have on a company's financials.

To undertake this analysis, the Sub Adviser may use data provided by external ESG providers. The external ESG providers provide information on ESG factors about potential Fund investments and use various quantitative and qualitative tools to measure ESG risk at the company level and the portion of that ESG risk that is not effectively being managed by the company to derive a quantitative score/rating.

The Sub-Adviser also interacts with potential Fund investments to understand applicable ESG issues by engaging with them on a regular basis including site visits.

ESG Criteria

Depending on the level of involvement by each investee company (which may be assessed based on percentage of revenue or any other parameter connected to a restricted activity), the Sub Adviser shall exclude direct investments in corporate issuers which, in the opinion of the Sub-Adviser, has significant exposure to, or ties with, ESG-negative sectors including but not limited to:

(i) the production of certain types of controversial weapons (such as cluster munitions);
(ii) the distribution or production of firearms or small arms ammunition intended for retail civilians;
(iii) the extraction and distribution of certain types of fossil fuel (excluding distribution of gas) and/or the generation of power from them for onward sale;
(iv) the production of tobacco products;
(v) production of alcohol products;
(vi) the ownership or operation of gambling-related activities or facilities; and
(vii) production of adult entertainment materials

In addition to the exclusions mentioned above, for each Fund investment the Sub-Adviser will use a rating method developed by an external service provider that uses a methodology which attributes to companies an ESG risk rating measuring the degree to which a company’s economic value is at risk driven by ESG factors. The value of all of the companies which score more than 40 at the time of purchase (or if not rated by the current external service provider, deemed by the Sub-Adviser to have the equivalent of a score more than 40, as discussed below) will not exceed more than 20% of the Fund's portfolio. For companies where the current external service provider does not provide a score, the Sub-Adviser may use ratings provided by other Sub-Adviser-approved external ESG rating service providers to simulate the current external service provider's methodology and make a similar determination as to ESG rating.

Based on the rating assigned to an investee company by the current external service provider, the latter will fall within one of the following categories of ESG risk severity:

Score ESG risk severity
0-10 Negligible
10-20 Low
20-30 Medium
30-40 High
40+ Severe

If the Sub-Adviser determines that a company in the Fund’s portfolio no longer meets its ESG criteria (such as the development of controversial behavior, an acquisition, a change of business mix or due to new information), the Sub-Adviser will first seek to understand the changes through engagement with the company. Where the investment is deemed inappropriate under the Sub-Adviser’s ESG criteria and the investment objective and policy of the Fund, a commercially reasonable effort will be made to divest promptly. If divestment is not practical or would be inconsistent with sound financial management, the Sub-Adviser, in its discretion, will develop a reasonable plan for divestment. The Sub-Adviser is not required to divest the Fund of an investment within a certain period of time following the Sub-Adviser’s determination that a company in the Fund’s portfolio no longer meets its ESG criteria. There may be occasions where the exposure to undesirable investments or restricted activities (in respect of the ESG criteria) may take a period of time to be eliminated.

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INDAX - Performance

Return Ranking - Trailing

Period INDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.4% -9.0% 1.4% 48.00%
1 Yr -12.5% -33.4% -2.5% 52.00%
3 Yr 4.5%* -10.6% 12.4% 45.83%
5 Yr -0.2%* -13.2% 4.5% 52.38%
10 Yr 4.5%* -2.1% 9.7% 52.63%

* Annualized

Return Ranking - Calendar

Period INDAX Return Category Return Low Category Return High Rank in Category (%)
2022 -14.0% -36.8% 29.6% 52.00%
2021 9.4% -0.5% 20.2% 54.17%
2020 4.7% -22.6% 6.1% 45.83%
2019 1.7% -37.5% 3.2% 30.43%
2018 -3.9% -8.9% 66.3% 66.67%

Total Return Ranking - Trailing

Period INDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.4% -26.6% 1.4% 44.00%
1 Yr -12.5% -33.4% -2.5% 52.00%
3 Yr 4.5%* -10.6% 12.4% 45.83%
5 Yr -0.2%* -13.2% 4.5% 52.38%
10 Yr 7.0%* -2.1% 9.7% 21.05%

* Annualized

Total Return Ranking - Calendar

Period INDAX Return Category Return Low Category Return High Rank in Category (%)
2022 -14.0% -36.8% 29.6% 52.00%
2021 9.4% -0.5% 20.2% 54.17%
2020 4.7% -22.6% 6.1% 45.83%
2019 1.7% -37.5% 3.2% 30.43%
2018 -3.9% -8.9% 66.3% 76.19%

NAV & Total Return History


INDAX - Holdings

Concentration Analysis

INDAX Category Low Category High INDAX % Rank
Net Assets 350 M 943 K 5.01 B 33.33%
Number of Holdings 65 18 474 33.33%
Net Assets in Top 10 141 M 615 K 2.3 B 37.04%
Weighting of Top 10 38.29% 12.4% 77.4% 77.78%

Top 10 Holdings

  1. Reliance Industries Ltd 8.22%
  2. Reliance Industries Ltd 8.22%
  3. Reliance Industries Ltd 8.22%
  4. Reliance Industries Ltd 8.22%
  5. Reliance Industries Ltd 8.22%
  6. Reliance Industries Ltd 8.22%
  7. Reliance Industries Ltd 8.22%
  8. Reliance Industries Ltd 8.22%
  9. Reliance Industries Ltd 8.22%
  10. Reliance Industries Ltd 8.22%

Asset Allocation

Weighting Return Low Return High INDAX % Rank
Stocks
93.28% 93.28% 104.43% 88.89%
Cash
3.58% -4.43% 5.11% 11.11%
Other
3.14% 0.00% 3.14% 3.70%
Preferred Stocks
0.00% 0.00% 0.00% 18.52%
Convertible Bonds
0.00% 0.00% 0.00% 18.52%
Bonds
0.00% 0.00% 0.01% 22.22%

INDAX - Expenses

Operational Fees

INDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.40% 0.19% 2.22% 18.52%
Management Fee 0.65% 0.19% 1.25% 22.22%
12b-1 Fee 0.25% 0.00% 1.00% 66.67%
Administrative Fee N/A 0.08% 0.20% N/A

Sales Fees

INDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 5.25% 5.50% 50.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

INDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 2.00% 2.00% 16.67%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

INDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 10.73% 67.00% 90.48%

INDAX - Distributions

Dividend Yield Analysis

INDAX Category Low Category High INDAX % Rank
Dividend Yield 0.00% 0.00% 6.02% 40.74%

Dividend Distribution Analysis

INDAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

INDAX Category Low Category High INDAX % Rank
Net Income Ratio -0.73% -1.69% 1.15% 84.00%

Capital Gain Distribution Analysis

INDAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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INDAX - Fund Manager Analysis

Managers

Nitin Jain


Start Date

Tenure

Tenure Rank

Feb 14, 2011

11.3

11.3%

Mr. Jain received his B.E. in Mechanical Engineering and an M.M.S. from Mumbai University and CFA®.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.41 21.34 9.91 11.3