iShares MSCI BRIC
ALTAR
Score™
8.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
11.9x P/Sales
ratio
1.2x
P/BV
ratio
1.6x Div.
yield
2.7%


  • 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) $169
Currency USD
Expense ratio 67 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 491
Wgt avg mkt cap (mns) $114,446
Large cap (>$10bn) 78.6%
Mid cap ($2-10bn) 18.8%
Small cap (<$2bn) 1.0%
Developed mkts 14.4%
Emerging mkts 85.6%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 9.0 %
TENCENT HOLDINGS LTD 7.9 %
CHINA CONSTRUCTION BANK-H 2.6 %
PING AN INSURANCE GROUP CO-H 2.2 %
RELIANCE INDUSTRIES LTD 2.0 %
HOUSING DEVELOPMENT FINANCE 1.7 %
CHINA MOBILE LIMITED 1.7 %
IND & COMM BK OF CHINA - H 1.5 %
ITAU UNIBANCO HOLDING SA 1.4 %
SBERBANK 1.4 %
Total 31.4 %

TOP COUNTRY EXPOSURE
CHINA 51.1 %
INDIA 16.6 %
BRAZIL 14.0 %
HONG KONG 9.9 %
RUSSIA 7.7 %
NETHERLANDS 0.1 %
SINGAPORE 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
13.5% 14.6% 4.4% 2.1% -0.8%

Market Correlations
versus... Beta R-squared
S&P500 0.95 47%
MSCI EAFE 1.18 61%
MSCI Emg. Mkts. 1.11 88%

Technical Indicators
Recent close $42.28
30d moving avg. $42.25
Annualized volatility 16.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.2%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $20,455

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI BRIC 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: 67 bp ALTAR Score™: 8.9%


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 60.7 59 8 9.5 +0.6
GXC SPDR S&P China ETF 58.8 59 8 9.3 +0.5
FLCH Franklin FTSE China 57.8 19 48 10.1 +1.2
CN Xtrackers Harvest MSCI All China 54.6 50 17 9.7 +0.8
EEMA iShares MSCI Emg Mkts Asia 54.4 50 17 8.7 -0.1
KALL KraneShares MSCI China All Shares 54.3 49 18 9.2 +0.3
EEM iShares MSCI Emerging Markets 50.7 67 0 8.6 -0.2
SCHE Schwab Emerging Markets Equity 49.9 13 54 8.7 -0.1
GMF SPDR S&P Emerging Asia Pacific 48.8 49 18 8.2 -0.7
WCHN WisdomTree ICBCCS S&P China 500 48.7 55 12 9.2 +0.3
DBEM Xtrackers MSCI Emg. Mkts. Hedged 46.6 65 2 8.5 -0.3
AAXJ iShares MSCI Asia ex-Japan 46.3 67 0 8.3 -0.6
PXH Invesco FTSE-RAFI Emerging Markets 46.1 50 17 12.5 +3.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity 46.0 20 47 8.3 -0.6
IEMG iShares Core MSCI Emerging Markets 44.9 14 53 8.7 -0.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 44.7 30 37 8.6 -0.3
PBEE Invesco PureBeta FTSE Emerging Markets 44.7 14 53 9.3 +0.4
VWO Vanguard Emerging Markets 44.7 12 55 8.8 -0.1
FLAX Franklin FTSE Asia Ex Japan 43.3 19 48 8.7 -0.1
JHEM John Hancock Multifactor Emerging Markets 43.0 55 12 8.9 0.0

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

  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 MSCI BRIC
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 14.5 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 67 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.37 CATEGORY
AVERAGE
1.49
 
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.