iShares Edge MSCI Min Vol Global ETF
ALTAR
Score™		 5.6% info Recommen-
dation		 OVERWEIGHT
2020E    2021E
P/E
ratio		 21.6x P/Sales
ratio		 1.9x
P/BV
ratio		 2.4x Div.
yield		 2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI All Country World Minimum Volatility Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the MSCI All Country World Minimum Volatility Index.

FUND BASICS
Category Global Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Oct 18, 2011
Assets (mns) $5,843
Currency USD
Expense ratio 20 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 380
Wgt avg mkt cap (mns) $78,945
Large cap (>$10bn) 87.6%
Mid cap ($2-10bn) 12.2%
Small cap (<$2bn) 0.0%
Developed mkts 87.5%
Emerging mkts 11.6%

TOP TEN HOLDINGS
VERIZON COMMUNICATIONS INC 1.5 %
NEWMONT MINING CORP 1.4 %
REGENERON PHARMACEUTICALS 1.4 %
NTT DOCOMO, INC. 1.4 %
NESTLE SA-REG 1.3 %
FRANCO-NEVADA CORP 1.2 %
BARRICK GOLD CORP 1.2 %
MERCK & CO. INC. 1.2 %
WASTE MANAGEMENT INC 1.1 %
NEXTERA ENERGY GROUP 1.1 %
Total 12.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 50.8 %
JAPAN 11.3 %
CANADA 5.9 %
SWITZERLAND 5.4 %
TAIWAN 4.3 %
HONG KONG 3.1 %
INDIA 2.6 %
CHINA 2.1 %
GERMANY 1.1 %
IRELAND 1.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.0% 1.4% 7.5% -- 9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.64 85%
MSCI EAFE 0.67 79%
MSCI Emg. Mkts. 0.47 65%

Technical Indicators
Recent close $91.87
30d moving avg. $90.17
Annualized volatility 11.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 360
Turnover 0.6%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $73,486

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares Edge MSCI Min Vol Global ETF ETF based on the alternatives' overlap in portfolio holdings with ACWV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ACWV Expense: 20 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ACWV
Ticker Fund
Name		 Overlap1
vs ACWV
(%)		 Expense
ratio
(bp)		 Savings
vs ACWV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ACWV
(%)
USMV iShares Edge MSCI Min Vol USA ETF 50.3 15 5 5.3 -0.3
QWLD SPDR MSCI World StrategicFactors ETF 43.7 30 -10 6.0 +0.4
QUS SPDR MSCI USA StrategicFactors ETF 35.0 15 5 5.6 +0.0
FDLO Fidelity Low Volatility Factor ETF 28.9 29 -9 4.9 -0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 28.6 30 -10 6.2 +0.6
JMIN JPMorgan U.S. Minimum Volatility ETF 27.7 12 8 5.3 -0.3
FLQL Franklin LibertyQ U.S. Equity ETF 27.7 15 5 5.9 +0.3
LSLT Salt Low truBeta US Market ETF 27.7 29 -9 5.8 +0.2
SCIU Global X Scientific Beta US ETF 27.5 19 1 5.6 -0.0
RBUS Nationwide Risk-Based U.S. Equity ETF 26.5 30 -10 4.6 -1.0
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 26.5 35 -15 5.2 -0.4
SPLV Invesco S&P 500 Low Volatility ETF 26.0 25 -5 5.4 -0.2
ALTL Pacer Lunt Large Cap Alternator ETF 25.9 60 -40 5.1 -0.5
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 25.9 49 -29 5.2 -0.4
SPYV SPDR Portfolio S&P 500 Value ETF 25.8 4 16 7.1 +1.5
IVE iShares S&P 500 Value ETF 25.8 18 2 7.0 +1.4
VOOV Vanguard S&P 500 Value ETF 25.8 15 5 7.0 +1.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 25.6 20 0 5.5 -0.1
ROUS Hartford Multifactor US Equity ETF 25.5 19 1 6.9 +1.3
DLN WisdomTree U.S. LargeCap Dividend Fund 25.4 28 -8 6.2 +0.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 25.2 29 -9 5.8 +0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 25.2 18 2 5.9 +0.4
LGLV SPDR Russell 1000 Low Volatility ETF 25.2 12 8 5.4 -0.2
LVUS Hartford Multifactor Low Volatility US Equity ETF 25.1 19 1 5.8 +0.2
IUSV iShares Core S&P U.S. Value ETF 25.1 4 16 7.2 +1.6
JQUA JPMorgan U.S. Quality Factor ETF 24.9 12 8 5.2 -0.4
DTD WisdomTree U.S.Total Dividend Fund 24.8 28 -8 6.4 +0.8
URTH iShares MSCI World ETF 24.1 24 -4 5.5 -0.1
PBP Invesco S&P 500 BuyWrite ETF 24.0 49 -29 4.7 -0.9
DGRO iShares Core Dividend Growth ETF 23.8 8 12 6.4 +0.8
FVD First Trust Value Line Dividend Index Fund 23.7 70 -50 6.1 +0.5
TOK iShares MSCI Kokusai ETF 23.7 25 -5 5.4 -0.2
SPXE ProShares S&P 500 Ex-Energy ETF 23.7 27 -7 5.1 -0.5
SPMV Invesco S&P 500 Minimum Variance ETF 23.6 10 10 5.6 -0.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 23.6 20 0 5.1 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 23.6 9 11 5.3 -0.3
HSPX Global X S&P 500 Covered Call ETF 23.5 65 -45 4.6 -1.0
FLLV Franklin Liberty U.S. Low Volatility ETF 23.5 29 -9 5.6 -0.0
JHML John Hancock Multifactor Large Cap ETF 23.4 29 -9 5.3 -0.3
KOKU Xtrackers MSCI Kokusai Equity ETF 23.4 9 11 5.5 -0.1
SPXT ProShares S&P 500 Ex-Technology ETF 23.4 27 -7 5.4 -0.2
SPY SPDR S&P 500 ETF Trust 23.4 9 11 5.1 -0.5
IVV iShares Core S&P 500 ETF 23.3 4 16 5.2 -0.4
SPLG SPDR Portfolio Large Cap ETF 23.3 3 17 5.2 -0.4
VOO VANGUARD S&P 500 ETF 23.3 3 17 5.2 -0.4
SFY SoFi Select 500 ETF 23.2 0 20 5.0 -0.6
IWD iShares Russell 1000 Value ETF 23.1 19 1 6.7 +1.1
VONV Vanguard Russell 1000 Value Index Fund 23.0 8 12 6.8 +1.2
PBUS Invesco PureBeta MSCI USA ETF 23.0 4 16 5.1 -0.5
VFMV Vanguard U.S. Minimum Volatility ETF 22.9 13 7 3.9 -1.7
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 22.9 7 13 5.0 -0.6
VV Vanguard Large-Cap Index Fund 22.9 4 16 5.0 -0.6
DEF Invesco Defensive Equity ETF 22.8 55 -35 4.9 -0.7
ACWI iShares MSCI ACWI ETF 22.8 32 -12 5.7 +0.1
VTV Vanguard Value Index Fund 22.8 4 16 7.1 +1.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 22.7 20 0 6.0 +0.4
SCHX Schwab U.S. Large-Cap ETF 22.7 3 17 5.1 -0.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 22.7 2 18 5.1 -0.5
BKLC BNY Mellon US Large Cap Core Equity ETF 22.6 0 20 5.0 -0.6
LOWC SPDR MSCI ACWI Low Carbon Target ETF 22.6 20 0 5.9 +0.3
QLV FlexShares US Quality Low Volatility Index Fund 22.5 22 -2 4.6 -1.0
SCHV Schwab U.S. Large-Cap Value ETF 22.5 4 16 6.9 +1.3
MGC Vanguard Mega Cap Index Fund 22.5 7 13 5.0 -0.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 22.5 35 -15 5.6 -0.0
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 22.5 35 -15 5.6 -0.0
IWL iShares Russell Top 200 ETF 22.4 15 5 4.8 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 22.3 3 17 5.3 -0.3
SCHK Schwab 1000 Index ETF 22.3 5 15 5.1 -0.5
SPXN ProShares S&P 500 Ex-Financials ETF 22.2 27 -7 4.8 -0.8
VONE Vanguard Russell 1000 ETF 22.2 8 12 5.0 -0.6
VYM Vanguard High Dividend Yield Index ETF 22.2 6 14 7.2 +1.6
IWB iShares Russell 1000 ETF 22.2 15 5 4.9 -0.7
IYY iShares Dow Jones U.S. ETF 22.1 20 0 4.9 -0.7
PFM Invesco Dividend Achievers ETF 22.1 54 -34 5.2 -0.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 22.0 9 11 5.8 +0.2
IWX iShares Russell Top 200 Value ETF 22.0 20 0 6.6 +1.0
HUSV First Trust Horizon Managed Volatility Domestic ETF 22.0 70 -50 4.6 -1.0
EPS WisdomTree U.S. Earnings 500 Fund 21.9 8 12 6.2 +0.6
USDY Pacific Global US Equity Income ETF 21.9 29 -9 7.0 +1.4
QEFA SPDR MSCI EAFE Quality Mix ETF 21.7 30 -10 6.9 +1.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 21.6 34 -14 4.7 -0.9
SCHB Schwab U.S. Broad Market ETF 21.5 3 17 5.0 -0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 21.4 3 17 5.0 -0.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 21.4 25 -5 6.1 +0.5
IWV iShares Russell 3000 ETF 21.4 20 0 4.8 -0.8
VTHR Vanguard Russell 3000 Index Fund 21.4 10 10 4.9 -0.7
ESGU iShares MSCI USA ESG Optimized ETF 21.3 15 5 4.9 -0.7
VTI Vanguard Total Stock Market Index Fund 21.1 3 17 4.9 -0.7
AFLG First Trust Active Factor Large Cap ETF 21.1 55 -35 5.3 -0.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 21.1 9 11 5.8 +0.2
PRF Invesco FTSE RAFI US 1000 ETF 21.1 39 -19 6.5 +0.9
QDEF FlexShares Quality Dividend Defensive Index Fund 21.0 37 -17 5.6 +0.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 21.0 20 0 4.7 -0.9
RNLC Large Cap US Equity Select ETF 20.9 60 -40 6.0 +0.4
PSET Principal Price Setters Index ETF 20.8 29 -9 4.6 -1.0
SPXV ProShares S&P 500 Ex-Health Care ETF 20.6 27 -7 4.8 -0.8
IQSU IQ Candriam ESG US Equity ETF 20.6 9 11 4.9 -0.7
OUSA O'Shares FTSE US Quality Dividend ETF 20.5 48 -28 5.5 -0.1
RSP Invesco S&P 500 Equal Weight ETF 20.5 20 0 6.3 +0.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 20.4 25 -5 6.1 +0.5

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 Edge MSCI Min Vol Global ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.0 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.62 CATEGORY
AVERAGE		 1.51
 
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.