iShares FactorSelect MSCI Global
ALTAR
Score™
8.3% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
13.3x P/Sales
ratio
1.1x
P/BV
ratio
1.8x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares FactorSelect MSCI Global ETF tracks an index of large and midcap global equities. Stocks are selected and weighted to increase exposure to 4 factors (quality, value, momentum and small size) while maintaining similar characteristics to the MSCI ACWI Index.

FUND BASICS
Category Global Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Apr 30, 2015
Assets (mns) $117
Currency USD
Expense ratio 35 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 435
Wgt avg mkt cap (mns) $39,488
Large cap (>$10bn) 75.3%
Mid cap ($2-10bn) 24.1%
Small cap (<$2bn) 0.5%
Developed mkts 87.4%
Emerging mkts 12.2%

TOP TEN HOLDINGS
INTEL CORP 2.9 %
ACCENTURE PLC-CL A 2.2 %
CHINA CONSTRUCTION BANK-H 1.5 %
ANTHEM INC 1.5 %
INTUIT INC 1.3 %
TARGET CORP 1.2 %
RIO TINTO PLC 1.2 %
BIOGEN IDEC INC 1.2 %
MICRON TECHNOLOGY INC 1.1 %
CHINA MOBILE LIMITED 1.1 %
Total 15.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 52.1 %
BRITAIN 7.7 %
CHINA 5.1 %
HONG KONG 4.9 %
JAPAN 4.5 %
IRELAND 3.6 %
CANADA 3.1 %
SWITZERLAND 2.4 %
AUSTRALIA 2.4 %
FRANCE 1.7 %

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.
15.6% 7.5% -- -- 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.96 86%
MSCI EAFE 0.99 78%
MSCI Emg. Mkts. 0.73 69%

Technical Indicators
Recent close $30.31
30d moving avg. $29.41
Annualized volatility 12.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.2%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $31,344

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: ACWF Expense: 35 bp ALTAR Score™: 8.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ACWF
Ticker Fund
Name
Overlap1
vs ACWF
(%)
Expense
ratio
(bp)
Savings
vs ACWF
(bp)
ALTAR
Score™
(%)
ALTAR
vs ACWF
(%)
LRGF iShares FactorSelect MSCI USA 41.0 20 15 7.4 -0.9
VO Vanguard Mid-Cap ETF 28.2 4 31 5.8 -2.4
ONEV SPDR Russell 1000 Low Volatility Focus 27.3 20 15 7.0 -1.3
FLQL Franklin LibertyQ U.S. Equity 27.0 15 20 6.9 -1.3
JHMM John Hancock Multifactor Mid Cap 26.6 44 -9 6.0 -2.3
DEUS Xtrackers Russell 1000 Comprehensive Factor 26.5 17 18 6.4 -1.9
ONEO SPDR Russell 1000 Momentum Focus 25.9 20 15 6.5 -1.8
SIZE iShares MSCI USA Size Factor 25.6 15 20 6.4 -1.9
EUSA iShares MSCI USA Equal Weight 25.2 15 20 6.6 -1.7
SCIU Global X Scientific Beta US 24.0 19 16 5.8 -2.5
RSP Invesco S&P 500 Equal Weight 23.9 20 15 6.9 -1.4
IWR iShares Russell Midcap 23.6 19 16 6.0 -2.3
DYNF BlackRock U.S. Equity Factor Rotation 23.5 30 5 6.6 -1.7
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 23.3 75 -40 4.7 -3.5
CFO Victory CEMP US 500 Enhanced Volatility Wtd 23.3 35 0 6.1 -2.1
CFA Compass EMP US 500 Volatility Weighted 23.3 35 0 6.1 -2.1
FEX First Trust Large Cap Core Alphadex 22.9 61 -26 6.4 -1.8
INTF iShares FactorSelect MSCI International 22.7 30 5 8.3 +0.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 22.5 24 11 6.1 -2.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 22.3 9 26 6.5 -1.8

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

  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 FactorSelect MSCI Global
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.4 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 CATEGORY
AVERAGE
1.54
 
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.