iShares S&P Asia 50
ALTAR
Score™
8.8% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
14.3x P/Sales
ratio
1.9x
P/BV
ratio
1.6x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares S&P Asia 50 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Standard & Poor's Asia 50 Index. The index does not include Japanese stocks.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Nov 16, 2007
Assets (mns) $1,245
Currency USD
Expense ratio 50 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 51
Wgt avg mkt cap (mns) $195,400
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 29.5%
Emerging mkts 70.5%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 13.9 %
SAMSUNG ELECTRONICS CO LTD 13.0 %
TAIWAN SEMICONDUCTOR MANUFAC 10.3 %
AIA GROUP LTD 6.3 %
CHINA CONSTRUCTION BANK-H 4.0 %
PING AN INSURANCE GROUP CO-H 3.2 %
IND & COMM BK OF CHINA - H 2.8 %
CHINA MOBILE LIMITED 2.4 %
MEITUAN DIANPING 2.3 %
HYNIX SEMICONDUCTOR INC 2.2 %
Total 60.3 %

TOP COUNTRY EXPOSURE
CHINA 31.4 %
SOUTH KOREA 23.8 %
HONG KONG 20.5 %
TAIWAN 18.6 %
SINGAPORE 5.6 %
MACAU 0.6 %





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.
22.1% 22.1% 9.4% 7.5% 4.7%

Market Correlations
versus... Beta R-squared
S&P500 1.05 55%
MSCI EAFE 1.35 75%
MSCI Emg. Mkts. 1.14 92%

Technical Indicators
Recent close $66.56
30d moving avg. $66.38
Annualized volatility 17.1%
Short interest (ETF) 0.3%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 35
Turnover 0.2%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $6,211

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares S&P Asia 50 ETF based on the alternatives' overlap in portfolio holdings with AIA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AIA Expense: 50 bp ALTAR Score™: 8.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AIA
Ticker Fund
Name
Overlap1
vs AIA
(%)
Expense
ratio
(bp)
Savings
vs AIA
(bp)
ALTAR
Score™
(%)
ALTAR
vs AIA
(%)
2800-HK Tracker Fund of Hong Kong 44.6 9 41 9.8 +1.1
AAXJ iShares MSCI Asia ex-Japan 38.6 67 -17 7.7 -1.1
FLAX Franklin FTSE Asia Ex Japan 38.4 19 31 8.2 -0.6
AXJL WisdomTree Asia Pacific Ex-Japan 38.0 48 2 8.7 -0.1
FLCH Franklin FTSE China 34.9 19 31 9.1 +0.3
EEMA iShares MSCI Emg Mkts Asia 33.9 50 0 8.2 -0.5
MCHI iShares MSCI China 32.3 59 -9 8.6 -0.1
FXI iShares China Large-Cap 31.5 74 -24 13.4 +4.7
GXC SPDR S&P China ETF 30.7 59 -9 8.6 -0.1
CHIL Global X MSCI China Large-Cap 50 29.9 29 21 10.0 +1.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 29.2 30 20 8.1 -0.6
DVEM WisdomTree Emerging Markets Dividend 27.6 32 18 10.8 +2.0
KEMX KraneShares MSCI Emerging Markets EX China Index 27.3 49 1 8.3 -0.5
JHEM John Hancock Multifactor Emerging Markets 26.9 55 -5 8.4 -0.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity 26.3 20 30 7.8 -1.0
XCEM Columbia EM Core ex-China 25.9 16 34 7.4 -1.4
EEM iShares MSCI Emerging Markets 25.7 67 -17 8.0 -0.8
XSOE WisdomTree Emg Mkt ex-SOE 25.5 32 18 6.5 -2.3
RFEM First Trust Riverfront Dynamic Emerging Markets 25.3 95 -45 9.7 +0.9
DBEM Xtrackers MSCI Emg. Mkts. Hedged 25.3 65 -15 7.9 -0.8

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%.

Content on this tab for subscribers only**

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 S&P Asia 50
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 13.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 8.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.32 CATEGORY
AVERAGE
1.48
 
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.