iShares MSCI Asia ex-Japan
ALTAR
Score™
8.3% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
13.9x P/Sales
ratio
1.1x
P/BV
ratio
1.4x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI All Country Asia ex Japan Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Country Asia ex Japan Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Aug 15, 2008
Assets (mns) $3,936
Currency USD
Expense ratio 67 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 879
Wgt avg mkt cap (mns) $101,913
Large cap (>$10bn) 76.1%
Mid cap ($2-10bn) 22.3%
Small cap (<$2bn) 1.4%
Developed mkts 22.8%
Emerging mkts 77.2%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 5.5 %
TAIWAN SEMICONDUCTOR MANUFAC 5.2 %
TENCENT HOLDINGS LTD 4.8 %
SAMSUNG ELECTRONICS CO LTD 4.6 %
AIA GROUP LTD 2.5 %
CHINA CONSTRUCTION BANK-H 1.6 %
PING AN INSURANCE GROUP CO-H 1.3 %
RELIANCE INDUSTRIES LTD 1.2 %
HOUSING DEVELOPMENT FINANCE 1.1 %
CHINA MOBILE LIMITED 1.0 %
Total 28.7 %

TOP COUNTRY EXPOSURE
CHINA 31.4 %
HONG KONG 15.4 %
SOUTH KOREA 14.7 %
TAIWAN 14.1 %
INDIA 10.1 %
SINGAPORE 3.8 %
THAILAND 3.2 %
INDONESIA 2.3 %
MALAYSIA 2.3 %
PHILIPPINES 1.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.7% 12.3% 4.0% 5.1% 4.9%

Market Correlations
versus... Beta R-squared
S&P500 0.91 50%
MSCI EAFE 1.15 69%
MSCI Emg. Mkts. 1.04 91%

Technical Indicators
Recent close $70.03
30d moving avg. $69.56
Annualized volatility 15.5%
Short interest (ETF) 3.9%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 919
Turnover 1.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $26,071

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI Asia ex-Japan ETF based on the alternatives' overlap in portfolio holdings with AAXJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AAXJ Expense: 67 bp ALTAR Score™: 8.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AAXJ
Ticker Fund
Name
Overlap1
vs AAXJ
(%)
Expense
ratio
(bp)
Savings
vs AAXJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs AAXJ
(%)
FLAX Franklin FTSE Asia Ex Japan 90.3 19 48 8.7 +0.4
EEMA iShares MSCI Emg Mkts Asia 84.3 50 17 8.7 +0.5
EEM iShares MSCI Emerging Markets 72.1 67 0 8.6 +0.3
DBEM Xtrackers MSCI Emg. Mkts. Hedged 68.1 65 2 8.5 +0.2
IEMG iShares Core MSCI Emerging Markets 64.2 14 53 8.7 +0.4
SCHE Schwab Emerging Markets Equity 62.5 13 54 8.7 +0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 62.0 30 37 8.6 +0.3
JHEM John Hancock Multifactor Emerging Markets 60.8 55 12 8.9 +0.6
XSOE WisdomTree Emg Mkt ex-SOE 53.8 32 35 7.0 -1.3
PBEE Invesco PureBeta FTSE Emerging Markets 53.5 14 53 9.3 +1.0
GMF SPDR S&P Emerging Asia Pacific 53.3 49 18 8.2 -0.1
VWO Vanguard Emerging Markets 52.1 12 55 8.8 +0.5
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 50.5 45 22 9.2 +1.0
ESGE iShares MSCI EM ESG Optimized 46.4 25 42 9.4 +1.1
BKF iShares MSCI BRIC 46.3 67 0 8.9 +0.6
DVEM WisdomTree Emerging Markets Dividend 46.1 32 35 11.3 +3.0
TLTE FlexShares Mngstr Emerging Markets Factor Tilt 45.5 59 8 10.6 +2.3
SPEM SPDR Portfolio Emerging Markets 45.2 11 56 8.5 +0.2
QEMM SPDR MSCI Emerging Markets Quality Mix 45.0 30 37 9.3 +1.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity 43.2 20 47 8.3 0.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
iShares MSCI Asia ex-Japan
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.9 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 67 bp
Equals: ALTAR Score 8.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.49
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.