iShares MSCI ACWI ex U.S. ETF
ALTAR
Score™
6.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.2x P/Sales
ratio
1.5x
P/BV
ratio
1.7x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI ACWX Index Fund seeks investment results that correspond to the performance of the MSCI ACWX Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Mar 26, 2008
Assets (mns) $3,842
Currency USD
Expense ratio 32 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 1831
Wgt avg mkt cap (mns) $96,441
Large cap (>$10bn) 84.3%
Mid cap ($2-10bn) 13.7%
Small cap (<$2bn) 0.2%
Developed mkts 73.9%
Emerging mkts 25.3%

TOP TEN HOLDINGS
ISHARES MSCI INDIA ETF 2.5 %
TAIWAN SEMICONDUCTOR MANUFAC 2.0 %
TENCENT HOLDINGS LTD 1.8 %
ALIBABA GROUP HOLDING LTD. SPONSOR 1.8 %
SAMSUNG ELECTRONICS CO LTD 1.5 %
NESTLE SA-REG 1.2 %
ROCHE HOLDING AG-GENUSSCHEIN 1.0 %
ASML HOLDING NV 0.9 %
NOVARTIS AG-REG 0.8 %
LVMH MOET HENNESSY LOUIS VUI 0.6 %
Total 14.1 %

TOP COUNTRY EXPOSURE
JAPAN 15.5 %
CHINA 9.2 %
BRITAIN 8.7 %
FRANCE 6.2 %
SWITZERLAND 6.0 %
CANADA 5.6 %
GERMANY 5.4 %
SOUTH KOREA 4.3 %
TAIWAN 4.2 %
AUSTRALIA 4.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
10.3% 10.3% 8.8% 4.6% 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.86 83%
MSCI EAFE 0.94 96%
MSCI Emg. Mkts. 0.79 86%

Technical Indicators
Recent close $54.58
30d moving avg. $53.18
Annualized volatility 17.8%
Short interest (ETF) 1.5%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1,583
Turnover 2.3%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $170,173

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the iShares MSCI ACWI ex U.S. ETF ETF based on the alternatives' overlap in portfolio holdings with ACWX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ACWX Expense: 32 bp ALTAR Score™: 6.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ACWX
Ticker Fund
Name
Overlap1
vs ACWX
(%)
Expense
ratio
(bp)
Savings
vs ACWX
(bp)
ALTAR
Score™
(%)
ALTAR
vs ACWX
(%)
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 87.0 40 -8 6.1 -0.2
VEU Vanguard FTSE All-World ex-US Index Fund 80.2 8 24 6.8 +0.4
IXUS ishares Core MSCI Total International Stock ETF 78.8 9 23 6.6 +0.2
SCHF Schwab International Equity ETF 68.5 6 26 6.6 +0.2
VEA Vanguard FTSE Developed Markets ETF 68.4 5 27 6.6 +0.3
CWI SPDR MSCI ACWI ex-US ETF 68.0 30 2 6.3 -0.1
VXUS Vanguard Total International Stock ETF 65.4 8 24 6.7 +0.3
SPDW SPDR Portfolio Developed World ex-US ETF 65.4 4 28 6.3 -0.1
VSGX Vanguard ESG International Stock ETF 64.9 17 15 6.4 +0.1
IDEV iShares Core MSCI International Developed Markets ETF 64.4 5 27 6.5 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 63.7 7 25 6.6 +0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 60.7 20 12 6.5 +0.1
EFA iShares MSCI EAFE ETF 60.1 32 0 6.3 -0.1
IEFA iShares Core MSCI EAFE ETF 60.1 7 25 6.6 +0.2
DFAI Dimensional International Core Equity Market ETF 59.9 18 14 6.4 +0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 59.7 35 -3 6.1 -0.3
GSID Goldman Sachs MarketBeta International Equity ETF 58.1 20 12 6.4 -0.0
BKIE BNY Mellon International Equity ETF 57.9 4 28 6.6 +0.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 55.4 20 12 6.5 +0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 55.0 45 -13 7.7 +1.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 53.1 25 7 6.1 -0.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 53.0 39 -7 7.5 +1.1
JHMD John Hancock Multifactor Developed International ETF 52.5 39 -7 6.6 +0.2
FNDF Schwab Fundamental International Large Co. Index ETF 51.3 25 7 7.7 +1.3
ESGD iShares MSCI EAFE ESG Optimized ETF 48.3 20 12 6.2 -0.2
QEFA SPDR MSCI EAFE Quality Mix ETF 47.5 30 2 6.0 -0.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 47.1 16 16 6.1 -0.3
PDEV Principal International Multi-Factor Core Index ETF 45.9 25 7 7.1 +0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 45.0 39 -7 5.6 -0.7
IQSI IQ Candriam ESG International Equity ETF 44.0 15 17 6.4 +0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 42.2 30 2 6.4 -0.0
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 41.3 35 -3 6.0 -0.4
AVDE Avantis International Equity ETF 41.2 23 9 7.0 +0.6
CIL VictoryShares International Volatility Weighted Index ETF 41.2 45 -13 6.4 +0.0
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 41.2 45 -13 6.4 +0.0
ISDX Invesco RAFI Strategic Developed ex-US ETF 40.8 23 9 6.3 -0.1
ACWI iShares MSCI ACWI ETF 40.7 32 0 5.2 -1.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 39.5 40 -8 7.3 +0.9
DWM WisdomTree International Equity Fund 38.8 48 -16 7.2 +0.9
IEUR iShares Core MSCI Europe ETF 37.1 9 23 6.6 +0.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 37.1 20 12 5.4 -1.0
IQIN IQ 500 International ETF 37.0 25 7 7.6 +1.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 37.0 20 12 5.4 -1.0
SPEU SPDR Portfolio Europe ETF 36.9 9 23 6.8 +0.5
FLEE Franklin FTSE Europe ETF 36.8 9 23 6.5 +0.1
FLEH Franklin FTSE Europe Hedged ETF 36.8 9 23 6.5 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 36.8 45 -13 6.0 -0.4
BBEU JPMorgan BetaBuilders Europe ETF 36.6 9 23 6.7 +0.4
VGK Vanguard FTSE Europe ETF 36.1 8 24 6.8 +0.4
VYMI Vanguard International High Dividend Yield ETF 35.9 27 5 9.0 +2.7
IEV iShares Europe ETF 35.7 59 -27 6.3 -0.1
DOL WisdomTree International LargeCap Dividend Fund 35.1 48 -16 7.2 +0.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 34.4 25 7 5.9 -0.5
EFV iShares MSCI EAFE Value ETF 33.9 39 -7 8.4 +2.0
VT Vanguard Total World Stock ETF 33.8 8 24 5.4 -1.0
URTH iShares MSCI World ETF 32.9 24 8 5.0 -1.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.8 42 -10 4.7 -1.7
DMXF iShares ESG Advanced MSCI EAFE ETF 31.6 12 20 6.2 -0.1
EFG iShares MSCI EAFE Growth ETF 31.3 40 -8 4.1 -2.2
QWLD SPDR MSCI World StrategicFactors ETF 30.5 30 2 5.4 -1.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 30.2 24 8 6.6 +0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 30.0 14 18 6.1 -0.3
TPIF Timothy Plan International ETF 29.2 62 -30 6.1 -0.3
PQIN PGIM QMA Strategic Alpha International Equity ETF 28.8 29 3 7.1 +0.8
RNDM First Trust Developed International Equity Select ETF 28.5 65 -33 5.8 -0.6
TOK iShares MSCI Kokusai ETF 27.3 25 7 5.0 -1.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 26.9 9 23 5.2 -1.2
VPL Vanguard FTSE Pacific ETF 26.9 8 24 6.5 +0.1
KOKU Xtrackers MSCI Kokusai Equity ETF 26.9 9 23 5.1 -1.3
RESD WisdomTree International ESG Fund 26.8 30 2 6.5 +0.2
IEMG iShares Core MSCI Emerging Markets ETF 26.4 11 21 6.8 +0.4
EEM iShares MSCI Emerging Markets ETF 26.4 70 -38 6.2 -0.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 26.2 65 -33 6.2 -0.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 24.9 30 2 5.3 -1.1
IDLB Invesco FTSE International Low Beta Equal Weight ETF 24.9 45 -13 6.2 -0.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 24.2 36 -4 7.0 +0.6
RBIN Nationwide Risk-Based International Equity ETF 23.9 42 -10 6.1 -0.3
QINT American Century Quality Diversified International ETF 23.5 39 -7 5.8 -0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 23.4 59 -27 10.8 +4.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 23.4 68 -36 5.9 -0.5
FLAX Franklin FTSE Asia Ex Japan ETF 23.0 19 13 6.5 +0.1
BKEM BNY Mellon Emerging Markets Equity ETF 22.9 11 21 6.9 +0.5
IVLU iShares Edge MSCI Intl Value Factor ETF 22.9 30 2 10.0 +3.7
JPIN JPMorgan Diversified Return International Equity ETF 22.9 37 -5 7.1 +0.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 22.4 15 17 7.5 +1.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 22.4 30 2 4.2 -2.2
IPAC iShares Core MSCI Pacific ETF 22.2 9 23 6.4 -0.0
JHEM John Hancock Multifactor Emerging Markets ETF 21.9 49 -17 7.6 +1.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 21.5 30 2 7.6 +1.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 21.5 29 3 7.3 +0.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 20.9 47 -15 8.2 +1.8
EFAV iShares Edge MSCI Min Vol EAFE ETF 20.9 20 12 5.0 -1.4
VWO Vanguard FTSE Emerging Markets ETF 20.7 10 22 7.1 +0.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 20.6 30 2 6.6 +0.3
SCHE Schwab Emerging Markets Equity ETF 20.5 11 21 6.9 +0.5
VWID Virtus WMC International Dividend ETF 20.2 49 -17 7.4 +1.0
EEMA iShares MSCI Emerging Markets Asia ETF 20.1 50 -18 6.5 +0.2

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

  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

Content on this tab for subscribers only

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 ACWI ex U.S. ETF
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 10.9 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.