iShares MSCI ACWI ex U.S. ETF
ALTAR
Score™
7.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
18.0x P/Sales
ratio
1.2x
P/BV
ratio
1.4x Div.
yield
3.0%


  • 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 28, 2008
Assets (mns) $3,113
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 1885
Wgt avg mkt cap (mns) $73,375
Large cap (>$10bn) 79.9%
Mid cap ($2-10bn) 18.9%
Small cap (<$2bn) 0.7%
Developed mkts 76.5%
Emerging mkts 22.8%

TOP TEN HOLDINGS
ISHARES MSCI INDIA ETF 2.3 %
ALIBABA GROUP HOLDING LTD. SPONSOR 1.9 %
NESTLE SA-REG 1.7 %
TENCENT HOLDINGS LTD 1.6 %
ROCHE HOLDING AG-GENUSSCHEIN 1.3 %
TAIWAN SEMICONDUCTOR MANUFAC 1.2 %
SAMSUNG ELECTRONICS CO LTD 1.0 %
NOVARTIS AG-REG 1.0 %
TOYOTA MOTOR CORP 0.7 %
ASTRAZENECA PLC 0.7 %
Total 13.3 %

TOP COUNTRY EXPOSURE
JAPAN 17.4 %
BRITAIN 9.2 %
CHINA 9.2 %
SWITZERLAND 6.9 %
FRANCE 6.5 %
CANADA 6.5 %
GERMANY 5.6 %
AUSTRALIA 4.1 %
TAIWAN 3.4 %
HONG KONG 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.7% -3.6% 0.7% 4.2% 1.0%

Market Correlations
versus... Beta R-squared
S&P500 0.83 82%
MSCI EAFE 0.98 96%
MSCI Emg. Mkts. 0.76 89%

Technical Indicators
Recent close $44.09
30d moving avg. $40.53
Annualized volatility 15.6%
Short interest (ETF) 2.1%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 2,723
Turnover 3.9%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $109,412

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.5%


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 90.0 40 -8 7.4 -0.1
VEU Vanguard FTSE All-World ex-US Index Fund 82.5 8 24 7.7 +0.2
IXUS ishares Core MSCI Total International Stock ETF 82.5 9 23 7.6 +0.1
VXUS Vanguard Total International Stock Index Fund 77.7 8 24 7.7 +0.2
VEA Vanguard FTSE Developed Markets ETF 73.1 5 27 7.4 -0.1
SCHF Schwab International Equity ETF 73.1 6 26 7.4 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 70.4 4 28 7.2 -0.3
IDEV iShares Core MSCI International Developed Markets ETF 69.7 5 27 7.3 -0.2
CWI SPDR MSCI ACWI ex-US ETF 69.5 30 2 7.6 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 67.1 7 25 7.6 +0.1
VSGX Vanguard ESG International Stock ETF 65.1 17 15 7.4 -0.1
EFA iShares MSCI EAFE ETF 64.9 32 0 7.2 -0.4
IEFA iShares Core MSCI EAFE ETF 64.9 7 25 7.3 -0.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 64.6 35 -3 7.0 -0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 63.7 20 12 7.5 +0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 59.9 20 12 7.3 -0.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 57.9 45 -13 8.8 +1.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 56.6 25 7 6.8 -0.7
FNDF Schwab Fundamental International Large Co. Index ETF 56.2 25 7 8.7 +1.2
JHMD John Hancock Multifactor Developed International ETF 55.7 45 -13 7.4 -0.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 54.2 39 -7 9.1 +1.6
QEFA SPDR MSCI EAFE Quality Mix ETF 49.4 30 2 6.8 -0.7
PDEV Principal International Multi-Factor Core Index ETF 49.1 25 7 7.9 +0.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 48.4 16 16 7.1 -0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 47.8 39 -7 6.7 -0.8
ESGD iShares MSCI EAFE ESG Optimized ETF 47.2 20 12 7.2 -0.3
DWM WisdomTree International Equity Fund 46.0 48 -16 8.2 +0.7
IQSI IQ Candriam ESG International Equity ETF 45.9 15 17 7.3 -0.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 45.4 35 -3 8.6 +1.1
ISZE iShares Edge MSCI Intl Size Factor ETF 45.0 30 2 6.9 -0.6
ISDX Invesco Strategic Developed ex-US ETF 42.0 23 9 7.4 -0.1
CIL VictoryShares International Volatility Weighted Index ETF 41.9 45 -13 6.7 -0.8
ACWI iShares MSCI ACWI ETF 40.8 32 0 6.0 -1.5
IEUR iShares Core MSCI Europe ETF 39.9 9 23 7.3 -0.2
DOL WisdomTree International LargeCap Dividend Fund 39.9 48 -16 8.5 +1.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 39.7 45 -13 6.8 -0.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 39.6 30 2 6.8 -0.7
FLEE Franklin FTSE Europe ETF 39.5 9 23 7.0 -0.5
FLEH Franklin FTSE Europe Hedged ETF 39.5 9 23 7.2 -0.4
FEU SPDR Portfolio Europe ETF 39.5 9 23 7.3 -0.3
VGK Vanguard FTSE Europe ETF 39.4 8 24 7.3 -0.2
IQIN IQ 500 International ETF 39.0 25 7 9.0 +1.5
BBEU JPMorgan BetaBuilders Europe ETF 38.8 9 23 7.3 -0.3
EFG iShares MSCI EAFE Growth ETF 38.8 40 -8 4.7 -2.8
VYMI Vanguard International High Dividend Yield ETF 38.7 32 0 10.1 +2.6
AVDE Avantis International Equity ETF 38.6 23 9 7.9 +0.3
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 38.0 25 7 6.7 -0.8
IEV iShares Europe ETF 37.9 59 -27 6.8 -0.7
LOWC SPDR MSCI ACWI Low Carbon Target ETF 37.0 20 12 6.4 -1.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 36.2 20 12 6.3 -1.2
VT Vanguard Total World Stock Index Fund 34.4 8 24 6.3 -1.3
URTH iShares MSCI World ETF 33.5 24 8 5.8 -1.7
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 32.8 45 -13 6.9 -0.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 32.8 14 18 7.0 -0.5
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.8 42 -10 5.6 -1.9
EFV iShares MSCI EAFE Value ETF 32.4 39 -7 10.0 +2.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 32.2 24 8 7.2 -0.3
RNDM Developed International Equity Select ETF 31.1 65 -33 6.4 -1.1
IDY Pacific Global International Equity Income ETF 31.0 39 -7 8.0 +0.5
RFDI First Trust Riverfront Dynamic Developed International ETF 30.9 83 -51 6.3 -1.2
QWLD SPDR MSCI World StrategicFactors ETF 30.1 30 2 6.0 -1.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 28.6 29 3 8.1 +0.6
QINT American Century Quality Diversified International ETF 28.2 39 -7 5.9 -1.6
TPIF Timothy Plan International ETF 28.2 62 -30 7.0 -0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 28.2 9 23 6.2 -1.3
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 27.8 48 -16 0.0 -7.5
VPL Vanguard FTSE Pacific ETF 27.7 8 24 7.8 +0.3
TOK iShares MSCI Kokusai ETF 27.6 25 7 5.7 -1.8
IMTM iShares Edge MSCI Intl Momentum Factor ETF 27.5 30 2 5.0 -2.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 27.2 30 2 6.2 -1.3
IGRO iShares International Dividend Growth ETF 27.0 22 10 8.0 +0.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 26.6 45 -13 7.2 -0.3
JPEU JPMorgan Diversified Return Europe Equity ETF 26.0 37 -5 6.8 -0.7
EFAV iShares Edge MSCI Min Vol EAFE ETF 25.3 20 12 5.9 -1.6
JPGE JPMorgan Diversified Return Global Equity ETF 24.9 29 3 7.3 -0.2
IEMG iShares Core MSCI Emerging Markets ETF 24.7 14 18 8.7 +1.2
EEM iShares MSCI Emerging Markets ETF 24.7 68 -36 8.3 +0.8
SCID Global X Scientific Beta Europe ETF 24.6 38 -6 6.9 -0.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 24.5 65 -33 8.4 +0.9
IPAC iShares Core MSCI Pacific ETF 24.0 9 23 7.5 -0.0
RBIN Nationwide Risk-Based International Equity ETF 23.9 42 -10 6.5 -1.1
DEW WisdomTree Global High Dividend Fund 23.5 58 -26 9.0 +1.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 23.2 29 3 8.6 +1.1
FDEV Fidelity Targeted International Factor ETF 23.1 39 -7 6.5 -1.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 23.0 59 -27 11.1 +3.5
JPIN JPMorgan Diversified Return International Equity ETF 22.9 38 -6 8.0 +0.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 22.3 35 -3 8.6 +1.1
EUMV iShares Edge MSCI Min Vol Europe ETF 22.2 25 7 5.5 -2.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 21.8 68 -36 8.0 +0.4
FLAX Franklin FTSE Asia Ex Japan ETF 21.4 19 13 8.5 +1.0
RFEU First Trust Riverfront Dynamic Europe ETF 21.2 83 -51 5.0 -2.5
VGFO Virtus WMC Global Factor Opportunities ETF 20.8 49 -17 6.1 -1.4
VIGI Vanguard International Dividend Appreciation ETF 20.7 25 7 5.9 -1.6
IVLU iShares Edge MSCI Intl Value Factor ETF 20.7 30 2 11.3 +3.8
VWO Vanguard FTSE Emerging Markets ETF 20.2 10 22 8.8 +1.3
EZU iShares MSCI Eurozone ETF 20.1 49 -17 6.7 -0.8
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 20.0 45 -13 6.8 -0.8
NUDM Nuveen ESG International Developed Markets Equity ETF 19.9 40 -8 6.9 -0.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 19.8 30 2 9.4 +1.9

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 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 10.7 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.59
 
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.