iShares MSCI BRIC ETF
ALTAR
Score™		 9.9% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 10.9x P/Sales
ratio		 1.1x
P/BV
ratio		 1.4x Div.
yield		 3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI BRIC Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI BRIC Index. The index consists primarily of large cap stocks in Brazil, Russia, India and China.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Nov 16, 2007
Assets (mns) $144
Currency USD
Expense ratio 69 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 661
Wgt avg mkt cap (mns) $149,872
Large cap (>$10bn) 79.6%
Mid cap ($2-10bn) 18.0%
Small cap (<$2bn) 1.3%
Developed mkts 14.0%
Emerging mkts 86.0%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 12.6 %
TENCENT HOLDINGS LTD 10.5 %
CHINA CONSTRUCTION BANK-H 2.9 %
PING AN INSURANCE GROUP CO-H 2.2 %
CHINA MOBILE LIMITED 1.7 %
IND & COMM BK OF CHINA - H 1.6 %
RELIANCE INDUSTRIES LTD 1.6 %
HOUSING DEVELOPMENT FINANCE 1.3 %
JD.COM INC-ADR 1.1 %
BANK OF CHINA LTD - H 1.1 %
Total 36.6 %

TOP COUNTRY EXPOSURE
CHINA 61.9 %
INDIA 13.5 %
HONG KONG 9.2 %
BRAZIL 8.4 %
RUSSIA 5.5 %
NETHERLANDS 0.1 %
SINGAPORE 0.0 %
UNITED STATES 0.0 %
BRITISH VIRGIN ISLANDS 0.0 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.4% -16.0% 1.6% -0.5% -2.1%

Market Correlations
versus... Beta R-squared
S&P500 0.98 59%
MSCI EAFE 1.06 68%
MSCI Emg. Mkts. 1.01 90%

Technical Indicators
Recent close $35.63
30d moving avg. $39.19
Annualized volatility 19.4%
Short interest (ETF) 0.2%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 260
Turnover 6.4%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $57,220

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: BKF Expense: 69 bp ALTAR Score™: 9.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BKF
Ticker Fund
Name		 Overlap1
vs BKF
(%)		 Expense
ratio
(bp)		 Savings
vs BKF
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs BKF
(%)
MCHI iShares MSCI China ETF 70.1 59 10 10.1 +0.1
GXC SPDR S&P China ETF 67.8 59 10 10.0 +0.1
FLCH Franklin FTSE China ETF 66.6 19 50 10.3 +0.4
KALL KraneShares FTSE Emerging Markets Plus ETF 60.5 49 20 10.0 +0.1
EEMA iShares MSCI Emerging Markets Asia ETF 58.3 50 19 9.9 +0.0
CN Xtrackers MSCI All China Equity ETF 57.1 50 19 10.3 +0.4
SCHE Schwab Emerging Markets Equity ETF 54.9 13 56 10.3 +0.3
EEM iShares MSCI Emerging Markets ETF 53.3 68 1 9.9 0.0
WCHN WisdomTree ICBCCS S&P China 500 Fund 53.1 55 14 9.8 -0.1
GMF SPDR S&P Emerging Asia Pacific ETF 52.9 49 20 9.3 -0.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 50.6 68 1 9.3 -0.6
VWO Vanguard FTSE Emerging Markets ETF 50.1 10 59 10.4 +0.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 49.2 20 49 9.1 -0.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 49.0 65 4 10.0 +0.0
FLAX Franklin FTSE Asia Ex Japan ETF 48.5 19 50 9.9 -0.1
IEMG iShares Core MSCI Emerging Markets ETF 48.5 14 55 10.4 +0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 48.2 30 39 10.2 +0.3
JHEM John Hancock Multifactor Emerging Markets ETF 47.7 55 14 10.6 +0.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 47.0 14 55 11.2 +1.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 44.7 45 24 10.2 +0.3
CHIL Global X MSCI China Large-Cap 50 ETF 43.9 29 40 10.5 +0.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 43.8 32 37 8.3 -1.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 43.6 32 37 8.1 -1.8
PXH Invesco FTSE RAFI Emerging Markets ETF 43.6 50 19 15.9 +6.0
SPEM SPDR Portfolio Emerging Markets ETF 43.5 11 58 10.1 +0.2
ESGE iShares ESG MSCI EM ETF 38.9 25 44 11.4 +1.5
DVEM WisdomTree Emerging Markets Dividend Fund 34.4 32 37 10.8 +0.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 34.1 95 -26 12.2 +2.3
ISEM Invesco Strategic Emerging Markets ETF 33.6 35 34 11.8 +1.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 32.8 30 39 10.7 +0.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 32.6 59 10 13.0 +3.1
AVEM Avantis Emerging Markets Equity ETF 32.2 33 36 11.6 +1.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 31.2 39 30 15.2 +5.3
NUEM Nuveen ESG Emerging Markets Equity ETF 30.7 45 24 9.2 -0.7
FXI iShares China Large-Cap ETF 29.1 74 -5 14.4 +4.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 28.2 45 24 10.5 +0.6
EMCG WisdomTree Emerging Markets Consumer Growth Fund 27.1 32 37 9.1 -0.8
KWEB KraneShares CSI China Internet ETF 26.4 76 -7 4.4 -5.5
FDNI First Trust Dow Jones International Internet ETF 24.8 65 4 4.0 -5.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 24.8 32 37 11.3 +1.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 23.8 40 29 8.9 -1.0
AIA iShares Asia 50 ETF 23.8 50 19 10.0 +0.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 23.0 86 -17 3.4 -6.6
ECON Columbia Emerging Markets Consumer ETF 22.7 59 10 5.7 -4.2
TTTN UP Fintech China-U.S. Internet Titans ETF 22.1 59 10 6.2 -3.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 21.9 49 20 10.2 +0.3
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 21.6 25 44 9.7 -0.2
JOYY Infusive Compounding Global Equities ETF 20.8 50 19 5.0 -5.0
BICK First Trust BICK Index Fund 20.8 64 5 6.2 -3.8
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 20.8 50 19 12.5 +2.5
EMMF WisdomTree Emerging Markets Multifactor Fund 20.4 48 21 11.9 +2.0
FDEM Fidelity Targeted Emerging Markets Factor ETF 20.4 45 24 11.6 +1.7
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 19.2 64 5 7.7 -2.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 18.8 45 24 11.7 +1.8
RNEM Emerging Markets Equity Select ETF 18.6 75 -6 11.4 +1.5
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 18.3 18 51 7.3 -2.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 17.9 49 20 11.3 +1.4
AXJL WisdomTree Asia Pacific ex-Japan Fund 17.3 48 21 10.9 +1.0
EEMO Invesco S&P Emerging Markets Momentum ETF 16.6 30 39 12.2 +2.3
CHIQ Global X China Consumer ETF 16.6 65 4 11.5 +1.6
ROAM Hartford Multifactor Emerging Markets ETF 16.5 44 25 17.8 +7.9
FNI First Trust Chindia ETF 15.8 59 10 4.5 -5.4
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 15.4 45 24 16.1 +6.2
DEM WisdomTree Emerging Markets High Dividend Fund 15.3 63 6 16.7 +6.8
CHIC Global X Nasdaq China Technology ETF 15.1 65 4 4.9 -5.0
PGJ Invesco Golden Dragon China ETF 15.1 70 -1 4.4 -5.5
CQQQ Invesco China Technology ETF 14.8 70 -1 5.2 -4.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 14.6 16 53 8.5 -1.4
OGIG O'Shares Global Internet Giants ETF 14.6 48 21 1.1 -8.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 14.4 20 49 12.7 +2.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 14.4 40 29 9.0 -1.0
ONLN ProShares Online Retail ETF 14.3 58 11 2.8 -7.1
CHIX Global X China Financials ETF 13.6 65 4 19.0 +9.1
INDA iShares MSCI India ETF 13.4 69 0 7.9 -2.0
FLIN Franklin FTSE India ETF 13.4 19 50 8.4 -1.5
IXUS ishares Core MSCI Total International Stock ETF 13.2 9 60 9.3 -0.7
GBUY Goldman Sachs Motif New Age Consumer ETF 13.1 50 19 3.6 -6.3
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 13.1 80 -11 2.2 -7.8
DINT Davis Select International ETF 12.9 75 -6 7.7 -2.3
EPI WisdomTree India Earnings Fund 12.9 85 -16 12.9 +3.0
PNQI Invesco NASDAQ Internet ETF 12.8 62 7 3.0 -6.9
ACWX iShares MSCI ACWI ex U.S. ETF 12.8 32 37 9.1 -0.8
SOCL Global X Social Media ETF 12.7 65 4 3.5 -6.4
EMXC iShares MSCI Emerging Markets ex China ETF 12.7 49 20 10.3 +0.4
VEU Vanguard FTSE All-World ex-US Index Fund 12.7 8 61 9.4 -0.5
VXUS Vanguard Total International Stock Index Fund 12.5 8 61 9.5 -0.5
VSGX Vanguard ESG International Stock ETF 12.3 17 52 8.9 -1.0
BUYZ Franklin Disruptive Commerce ETF 12.3 50 19 0.3 -9.7
FEM First Trust Emerging Markets AlphaDEX Fund 12.1 80 -11 14.5 +4.6
VIGI Vanguard International Dividend Appreciation ETF 11.9 25 44 6.9 -3.0
CWI SPDR MSCI ACWI ex-US ETF 11.7 30 39 9.1 -0.8
NFTY First Trust India NIFTY 50 Equal Weight ETF 11.6 80 -11 12.2 +2.3
INDY iShares India 50 ETF 11.6 94 -25 8.1 -1.8
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.5 60 9 10.0 +0.1
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 11.5 58 11 7.4 -2.5
PIN Invesco India ETF 11.4 82 -13 8.5 -1.4
ACWF iShares FactorSelect MSCI Global ETF 10.9 35 34 9.9 -0.1
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 10.8 51 18 13.8 +3.9
PIE Invesco DWA Emerging Markets Momentum ETF 10.8 90 -21 6.8 -3.1
GIGE SoFi Gig Economy ETF 9.6 59 10 -0.7 -10.6

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 BRIC 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 14.1 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 9.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.30 CATEGORY
AVERAGE		 1.45
 
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.