iShares MSCI All Country Asia ex Japan ETF
ALTAR
Score™
7.0% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
17.6x P/Sales
ratio
1.4x
P/BV
ratio
1.7x Div.
yield
2.3%


  • 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 13, 2008
Assets (mns) $4,635
Currency USD
Expense ratio 68 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 1085
Wgt avg mkt cap (mns) $187,840
Large cap (>$10bn) 78.7%
Mid cap ($2-10bn) 18.4%
Small cap (<$2bn) 1.0%
Developed mkts 20.0%
Emerging mkts 80.1%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 9.7 %
TENCENT HOLDINGS LTD 7.0 %
TAIWAN SEMICONDUCTOR MANUFAC 6.4 %
SAMSUNG ELECTRONICS CO LTD 4.1 %
AIA GROUP LTD 2.0 %
MEITUAN DIANPING 2.0 %
RELIANCE INDUSTRIES LTD 1.4 %
JD.COM INC-ADR 1.2 %
CHINA CONSTRUCTION BANK-H 1.2 %
PING AN INSURANCE GROUP CO-H 1.1 %
Total 36.0 %

TOP COUNTRY EXPOSURE
CHINA 43.0 %
TAIWAN 14.1 %
SOUTH KOREA 13.3 %
HONG KONG 11.6 %
INDIA 9.2 %
SINGAPORE 2.4 %
MALAYSIA 1.9 %
THAILAND 1.9 %
INDONESIA 1.4 %
PHILIPPINES 0.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
5.4% 18.3% 10.0% 4.4% 5.6%

Market Correlations
versus... Beta R-squared
S&P500 0.81 60%
MSCI EAFE 0.95 69%
MSCI Emg. Mkts. 0.87 90%

Technical Indicators
Recent close $80.47
30d moving avg. $78.07
Annualized volatility 18.5%
Short interest (ETF) 3.6%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 1,296
Turnover 2.3%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $68,435

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares MSCI All Country Asia ex Japan ETF 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: 68 bp ALTAR Score™: 7.0%


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 ETF 91.4 19 49 7.6 +0.6
EEMA iShares MSCI Emerging Markets Asia ETF 82.6 50 18 7.6 +0.7
EEM iShares MSCI Emerging Markets ETF 79.2 68 0 7.3 +0.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 76.7 65 3 7.4 +0.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 74.1 36 32 7.2 +0.3
IEMG iShares Core MSCI Emerging Markets ETF 71.2 13 55 7.8 +0.8
SCHE Schwab Emerging Markets Equity ETF 70.5 11 57 7.8 +0.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 69.6 30 38 7.6 +0.6
JHEM John Hancock Multifactor Emerging Markets ETF 62.3 49 19 8.7 +1.8
VWO Vanguard FTSE Emerging Markets ETF 60.7 10 58 7.9 +1.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 60.5 32 36 5.6 -1.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 59.0 15 53 8.3 +1.4
GMF SPDR S&P Emerging Asia Pacific ETF 58.9 49 19 7.0 +0.1
ESGE iShares ESG MSCI EM ETF 58.9 25 43 8.5 +1.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 57.2 45 23 7.5 +0.5
BKEM BNY Mellon Emerging Markets Equity ETF 56.4 11 57 8.2 +1.3
BKF iShares MSCI BRIC ETF 54.5 69 -1 7.3 +0.4
SPEM SPDR Portfolio Emerging Markets ETF 54.2 11 57 7.7 +0.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 50.7 20 48 6.7 -0.3
DVEM WisdomTree Emerging Markets Dividend Fund 48.9 32 36 7.2 +0.2
MCHI iShares MSCI China ETF 47.0 59 9 7.6 +0.6
GXC SPDR S&P China ETF 46.1 59 9 7.6 +0.7
FLCH Franklin FTSE China ETF 45.8 19 49 8.1 +1.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 44.9 59 9 11.0 +4.0
EEMO Invesco S&P Emerging Markets Momentum ETF 44.9 29 39 4.0 -3.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 44.8 30 38 8.7 +1.8
AVEM Avantis Emerging Markets Equity ETF 42.3 33 35 8.7 +1.8
CN Xtrackers MSCI All China Equity ETF 41.5 50 18 7.9 +0.9
KALL KraneShares FTSE Emerging Markets Plus ETF 40.9 49 19 7.8 +0.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 40.3 40 28 7.2 +0.3
NUEM Nuveen ESG Emerging Markets Equity ETF 39.7 45 23 6.7 -0.3
PXH Invesco FTSE RAFI Emerging Markets ETF 38.9 50 18 13.3 +6.3
AIA iShares Asia 50 ETF 38.8 50 18 7.8 +0.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 38.2 95 -27 8.0 +1.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 35.8 49 19 7.9 +0.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 32.8 45 23 8.5 +1.5
CXSE WisdomTree China ex-State-Owned Enterprises Fund 32.8 32 36 11.3 +4.3
CHIL Global X MSCI China Large-Cap 50 ETF 32.8 29 39 7.4 +0.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 32.7 49 19 7.7 +0.7
EMXC iShares MSCI Emerging Markets ex China ETF 32.1 25 43 8.1 +1.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 31.2 39 29 13.4 +6.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 31.0 32 36 8.9 +2.0
ISEM Invesco Strategic Emerging Markets ETF 30.7 35 33 10.8 +3.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 29.4 25 43 7.9 +1.0
EMMF WisdomTree Emerging Markets Multifactor Fund 28.1 48 20 9.5 +2.6
VSGX Vanguard ESG International Stock ETF 27.6 17 51 7.0 +0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 27.3 16 52 6.9 -0.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 26.6 40 28 7.1 +0.1
ACWX iShares MSCI ACWI ex U.S. ETF 24.6 32 36 7.2 +0.3
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 24.2 45 23 9.0 +2.1
IXUS ishares Core MSCI Total International Stock ETF 23.5 9 59 7.3 +0.4
KWEB KraneShares CSI China Internet ETF 23.5 76 -8 2.0 -5.0
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 23.2 86 -18 2.1 -4.9
FDNI First Trust Dow Jones International Internet ETF 22.9 65 3 2.0 -4.9
VYMI Vanguard International High Dividend Yield ETF 22.5 27 41 10.2 +3.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 22.3 44 24 9.1 +2.1
VEU Vanguard FTSE All-World ex-US Index Fund 22.2 8 60 7.5 +0.5
ECON Columbia Emerging Markets Consumer ETF 21.1 59 9 4.9 -2.1
ROAM Hartford Multifactor Emerging Markets ETF 21.0 44 24 13.0 +6.0
VXUS Vanguard Total International Stock Index Fund 20.5 8 60 7.5 +0.5
CWI SPDR MSCI ACWI ex-US ETF 20.5 30 38 7.2 +0.2
TTTN UP Fintech China-U.S. Internet Titans ETF 20.3 59 9 4.2 -2.7
BICK First Trust BICK Index Fund 19.2 64 4 4.7 -2.3
XCEM Columbia EM Core ex-China ETF 19.2 16 52 7.1 +0.1
VPL Vanguard FTSE Pacific ETF 18.5 8 60 7.3 +0.4
FXI iShares China Large-Cap ETF 18.2 74 -6 13.1 +6.2
RNEM Emerging Markets Equity Select ETF 17.0 75 -7 11.8 +4.8
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 16.7 45 23 14.3 +7.4
CHIQ Global X China Consumer ETF 16.6 65 3 6.6 -0.3
VIGI Vanguard International Dividend Appreciation ETF 15.2 20 48 5.5 -1.4
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 15.0 18 50 4.8 -2.2
DINT Davis Select International ETF 14.8 68 0 5.7 -1.3
OGIG O'Shares Global Internet Giants ETF 14.7 48 20 0.5 -6.4
PEK VanEck Vectors ChinaAMC CSI 300 ETF 14.3 60 8 3.8 -3.1
EWT iShares MSCI Taiwan ETF 14.1 59 9 6.1 -0.9
FNI First Trust Chindia ETF 14.0 60 8 2.4 -4.5
FLTW Franklin FTSE Taiwan ETF 13.9 19 49 6.2 -0.8
PIE Invesco DWA Emerging Markets Momentum ETF 13.8 90 -22 4.9 -2.1
PGJ Invesco Golden Dragon China ETF 13.4 70 -2 3.3 -3.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 13.3 29 39 10.1 +3.1
FLKR Franklin FTSE South Korea ETF 13.1 9 59 8.7 +1.8
DWLD Davis Select Worldwide ETF 13.0 63 5 6.3 -0.7
EWY iShares MSCI South Korea ETF 12.9 59 9 8.3 +1.4
WUGI Esoterica NextG Economy ETF 12.7 75 -7 1.5 -5.5
GBUY Goldman Sachs Motif New Age Consumer ETF 12.7 50 18 1.7 -5.3
AIQ Global X Future Analytics Tech ETF 12.6 68 0 4.0 -3.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 12.2 20 48 11.6 +4.6
PNQI Invesco NASDAQ Internet ETF 11.7 60 8 0.9 -6.0
CQQQ Invesco China Technology ETF 11.1 70 -2 6.1 -0.9
FRDM Freedom 100 Emerging Markets ETF 11.1 49 19 6.5 -0.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 10.8 20 48 5.9 -1.1
DEM WisdomTree Emerging Markets High Dividend Fund 10.7 63 5 15.1 +8.1
JOYY Infusive Compounding Global Equities ETF 10.6 50 18 3.6 -3.4
IGRO iShares International Dividend Growth ETF 10.6 22 46 8.4 +1.4
BUYZ Franklin Disruptive Commerce ETF 10.5 50 18 -0.2 -7.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 10.5 20 48 5.9 -1.1
ACWI iShares MSCI ACWI ETF 10.4 32 36 5.7 -1.3
EPP iShares MSCI Pacific ex-Japan ETF 10.1 48 20 6.6 -0.3

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%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
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

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VALUATION METRICS
  2019 2020E 2021E
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 All Country Asia ex Japan ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 12.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.32 CATEGORY
AVERAGE
1.43
 
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.