Summary
FMQQ The Next Frontier Internet ETF is an ETF - a fund traded on an exchange like a stock - run by EMQQ Global. Positions inside: 37. The ten largest make up 59% of the fund.
- Yearly costs
- 0.86%
- Fund size
- $15.4M
- Positions
- 37
- Dividend yield
- 0.73%
- Running since
- 2021
What speaks for it
Nothing stands out in its favour.
What to watch
- The ten largest positions make up 59% of the fund, so its result rests on a few names.
- 40% of the fund is in one sector (Consumer cyclical).
- Costs of 0.86% a year are above the middle of comparable funds (0.44%).
- In the last five years its price once dropped by 65% from its high.
- A small fund with $15.4M under management; small funds get closed more often.
- It trades little: only about $156.2K changes hands a day.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- -3.3%
- 3 months
- -9.6%
- This year
- -17%
- 1 year
- -23%
- 3 years
- +11%
- 5 years
- -55%
- Avg. market cap
- $37.8B
- P/E
- 19.2x
- Forward P/E
- 18.6x
- P/S
- 2.2x
- P/B
- 2.7x
- P/FCF
- 8.6x
- EV/EBITDA
- 15.1x
- Dividend yield
- 1.20%
- ROIC
- 2.7%
- ROE
- 10.8%
- Gross margin
- 42.5%
- Operating margin
- 12.8%
- Net margin
- 10.2%
- Payout ratio
- 23.1%
- Net debt/EBITDA
- -13.7x
- Beta
- 0.87
Weighted average of the 31 largest companies, which make up 88% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Concentrated- 1 MEMercadoLibre MELI 7.6%
- 2 REReliance Industries Limited RELIANCE.NS 7.3%
- 3 ALAllegro ALE.WA 7.2%
- 4 BAJAJ FINANCE LTD 6.4%
- 5 ETEternal Limited ETERNAL.NS 6.2%
- 6 NUNu NU 6.2%
- 7 SESea Limited SE 6.1%
- 8 KSJoint Stock Company Kaspi.kz American Depository Shares KSPI 5.0%
- 9 JIJio Financial Services Limited JIOFIN.NS 4.0%
- 10 GRGrab GRAB 3.6%
Positions in the fund: 37. The ten largest make up 59% of it.
Composition as of Oct 31, 2026.
Where is it spread?
One sector dominatesBy sector
- Consumer cyclical 40%
- Financials 27%
- Technology 16%
- Communication services 7.4%
- Energy 7.0%
- Other 3.0%
By country
- India 48%
- Brazil 20%
- Poland 7.2%
- Singapore 6.1%
- Other countries 13%
By company size
- Large cap 83%
- Mid cap 13%
- Small cap 3.8%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M. Counted from the companies that make up 88% of the fund.
Largest sector: Consumer cyclical (40%). Largest country: India (48%). Largest size group: Large cap (83%).
What does it cost me?
Expensive- A year from $10,000
- $86.00
- Over 20 years
- $4,024
From every $10,000 invested the fund takes $86.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $4,024.
How has it done?
Losing value- A year on average, 5 years
- -15%
- Deepest drop
- -65%
- Yearly volatility
- 22%
Average yearly decline over the last five years: 15%. Deepest drop in these years: 65% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 0.73%
- Payments a year
- 1
- Last payment
- $0.08
Over the last 12 months it paid $0.08 per share, which is 0.73% of today's price. The last payment was $0.08 on Dec 30, 2025.
Is it easy to buy and sell?
It trades little- Traded a day
- $156.2K
- Shares a day
- 14K
On an average day about $156.2K of the fund changes hands.
How expensive are the companies inside?
Usual valuation- P/E of the companies inside
- 19.2
- Average Bulios Score
- 59 out of 100
Weight by Bulios Fair Price
- Undervalued 37%
- Fairly valued 9.1%
- Overvalued 54%
On average the companies inside trade for 19.2 times their yearly profit. By Fair Price, 54% of the rated weight comes out as overvalued.
Counted from its largest companies (31), which make up 88% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Similar funds
Funds that hold much of the same. The overlap says how much of their weight they share with this fund.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
EM EMQQ EMQQ The Emerging Markets Internet ETF | United States | 0.86% | $218.9M | -34% | Pays out | 50% |
IN INQQ The India Internet ETF | United States | 0.86% | $36.6M | -17% | Pays out | 35% |
EM EMQQ.DE EMQQ Emerging Markets Internet UCITS ETF – Acc | Ireland | 0.86% | $96.6M | -28% | Reinvests | 35% |
DG DGIN VanEck Digital India ETF | United States | 0.70% | $14.1M | -16% | Pays out | 25% |