iShares MSCI BRIC ETF
ALTAR
Score™		 7.2% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 16.5x P/Sales
ratio		 1.5x
P/BV
ratio		 1.9x Div.
yield		 2.1%


  • 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 12, 2007
Assets (mns) $151
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 650
Wgt avg mkt cap (mns) $175,036
Large cap (>$10bn) 80.9%
Mid cap ($2-10bn) 16.6%
Small cap (<$2bn) 0.7%
Developed mkts 15.5%
Emerging mkts 84.5%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 13.2 %
TENCENT HOLDINGS LTD 11.0 %
MEITUAN DIANPING 2.6 %
CHINA CONSTRUCTION BANK-H 2.2 %
RELIANCE INDUSTRIES LTD 1.9 %
PING AN INSURANCE GROUP CO-H 1.8 %
JD.COM INC-ADR 1.5 %
CHINA MOBILE LIMITED 1.2 %
HOUSING DEVELOPMENT FINANCE 1.1 %
NETEASE.COM INC-ADR 1.1 %
Total 37.6 %

TOP COUNTRY EXPOSURE
CHINA 63.3 %
INDIA 13.1 %
BRAZIL 8.6 %
HONG KONG 7.4 %
RUSSIA 5.0 %
NETHERLANDS 0.1 %
SINGAPORE 0.0 %
BRITISH VIRGIN ISLANDS 0.0 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.9% -0.5% 4.1% 2.3% -0.8%

Market Correlations
versus... Beta R-squared
S&P500 0.90 57%
MSCI EAFE 1.06 69%
MSCI Emg. Mkts. 0.95 88%

Technical Indicators
Recent close $46.31
30d moving avg. $42.18
Annualized volatility 20.1%
Short interest (ETF) 0.3%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.5%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $47,591

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 7.2%


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 70.8 59 10 7.3 +0.2
GXC SPDR S&P China ETF 68.2 59 10 7.6 +0.4
FLCH Franklin FTSE China ETF 67.8 19 50 7.7 +0.6
EEMA iShares MSCI Emerging Markets Asia ETF 59.4 50 19 7.4 +0.3
KALL KraneShares FTSE Emerging Markets Plus ETF 58.3 49 20 7.7 +0.5
SCHE Schwab Emerging Markets Equity ETF 57.2 11 58 7.8 +0.6
CN Xtrackers MSCI All China Equity ETF 56.9 50 19 7.5 +0.4
EEM iShares MSCI Emerging Markets ETF 56.1 68 1 7.4 +0.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 54.1 36 33 8.1 +1.0
GMF SPDR S&P Emerging Asia Pacific ETF 54.0 49 20 7.2 -0.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 53.9 68 1 7.0 -0.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 53.6 65 4 7.4 +0.2
FLAX Franklin FTSE Asia Ex Japan ETF 51.8 19 50 7.7 +0.5
VWO Vanguard FTSE Emerging Markets ETF 51.3 10 59 8.0 +0.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 51.0 20 49 6.7 -0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 50.7 30 39 7.8 +0.6
IEMG iShares Core MSCI Emerging Markets ETF 50.7 13 56 7.9 +0.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 49.5 15 54 8.5 +1.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 47.5 32 37 5.8 -1.4
JHEM John Hancock Multifactor Emerging Markets ETF 47.4 49 20 8.4 +1.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 47.4 32 37 6.1 -1.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 45.9 45 24 7.9 +0.7
ESGE iShares ESG MSCI EM ETF 45.7 25 44 8.6 +1.4
SPEM SPDR Portfolio Emerging Markets ETF 44.9 11 58 7.7 +0.6
BKEM BNY Mellon Emerging Markets Equity ETF 43.9 11 58 8.3 +1.2
CHIL Global X MSCI China Large-Cap 50 ETF 43.4 29 40 7.8 +0.6
PXH Invesco FTSE RAFI Emerging Markets ETF 40.1 50 19 13.0 +5.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 36.8 95 -26 9.1 +1.9
AVEM Avantis Emerging Markets Equity ETF 33.3 33 36 8.9 +1.7
NUEM Nuveen ESG Emerging Markets Equity ETF 33.1 45 24 7.2 0.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 32.4 30 39 8.7 +1.5
ISEM Invesco Strategic Emerging Markets ETF 31.6 35 34 10.1 +3.0
DVEM WisdomTree Emerging Markets Dividend Fund 31.6 32 37 8.2 +1.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 30.6 59 10 11.0 +3.8
KWEB KraneShares CSI China Internet ETF 29.1 76 -7 1.6 -5.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 27.8 39 30 12.7 +5.6
FDNI First Trust Dow Jones International Internet ETF 27.5 65 4 2.1 -5.1
FXI iShares China Large-Cap ETF 27.3 74 -5 12.0 +4.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 25.8 44 25 8.9 +1.8
ECON Columbia Emerging Markets Consumer ETF 25.4 59 10 4.4 -2.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 25.4 86 -17 2.1 -5.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 24.5 25 44 7.6 +0.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 24.2 40 29 7.1 -0.1
TTTN UP Fintech China-U.S. Internet Titans ETF 24.1 59 10 3.9 -3.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 24.0 32 37 9.0 +1.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 23.8 49 20 8.6 +1.5
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 23.4 64 5 4.6 -2.6
AIA iShares Asia 50 ETF 23.4 50 19 8.0 +0.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 21.1 49 20 8.0 +0.8
EEMO Invesco S&P Emerging Markets Momentum ETF 20.9 29 40 6.5 -0.6
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 20.4 18 51 5.5 -1.7
BICK First Trust BICK Index Fund 20.2 64 5 4.7 -2.5
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 20.2 45 24 9.0 +1.9
EMMF WisdomTree Emerging Markets Multifactor Fund 19.2 48 21 9.4 +2.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 19.1 50 19 10.3 +3.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 18.9 45 24 9.6 +2.4
CHIQ Global X China Consumer ETF 18.6 65 4 6.9 -0.3
RNEM Emerging Markets Equity Select ETF 17.5 75 -6 10.4 +3.3
OGIG O'Shares Global Internet Giants ETF 17.4 48 21 0.6 -6.5
CQQQ Invesco China Technology ETF 17.0 70 -1 3.5 -3.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 16.9 16 53 6.9 -0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 16.4 40 29 7.1 -0.1
FNI First Trust Chindia ETF 16.4 60 9 2.7 -4.5
PGJ Invesco Golden Dragon China ETF 16.2 70 -1 3.0 -4.1
GBUY Goldman Sachs Motif New Age Consumer ETF 15.6 50 19 1.8 -5.4
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 15.5 45 24 13.5 +6.3
ONLN ProShares Online Retail ETF 14.9 58 11 1.3 -5.9
ROAM Hartford Multifactor Emerging Markets ETF 14.8 44 25 14.7 +7.6
IXUS ishares Core MSCI Total International Stock ETF 14.8 9 60 7.4 +0.2
ACWX iShares MSCI ACWI ex U.S. ETF 14.7 32 37 7.2 +0.1
CHIC Global X Nasdaq China Technology ETF 14.4 66 3 3.5 -3.7
VEU Vanguard FTSE All-World ex-US Index Fund 13.7 8 61 7.6 +0.4
VIGI Vanguard International Dividend Appreciation ETF 13.6 25 44 5.5 -1.7
CWI SPDR MSCI ACWI ex-US ETF 13.6 30 39 7.2 -0.0
VSGX Vanguard ESG International Stock ETF 13.5 17 52 7.2 0.0
DINT Davis Select International ETF 13.4 68 1 5.6 -1.6
VXUS Vanguard Total International Stock Index Fund 13.3 8 61 7.6 +0.4
PNQI Invesco NASDAQ Internet ETF 13.3 62 7 1.0 -6.2
INDA iShares MSCI India ETF 13.1 69 0 5.2 -2.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 13.0 20 49 11.0 +3.9
FLIN Franklin FTSE India ETF 13.0 19 50 5.6 -1.5
EMXC iShares MSCI Emerging Markets ex China ETF 12.9 25 44 8.4 +1.2
PIE Invesco DWA Emerging Markets Momentum ETF 12.8 90 -21 5.2 -2.0
JOYY Infusive Compounding Global Equities ETF 12.7 50 19 3.7 -3.5
EPI WisdomTree India Earnings Fund 12.5 85 -16 8.8 +1.6
SOCL Global X Social Media ETF 11.8 65 4 1.8 -5.4
BUYZ Franklin Disruptive Commerce ETF 11.4 50 19 -0.2 -7.4
DEM WisdomTree Emerging Markets High Dividend Fund 11.4 63 6 13.9 +6.8
PEK VanEck Vectors ChinaAMC CSI 300 ETF 11.4 60 9 6.9 -0.3
DWLD Davis Select Worldwide ETF 11.4 63 6 6.3 -0.9
PIN Invesco India ETF 11.2 78 -9 5.7 -1.5
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 11.2 58 11 5.0 -2.2
NFTY First Trust India NIFTY 50 Equal Weight ETF 11.0 80 -11 7.8 +0.6
INDY iShares India 50 ETF 11.0 94 -25 5.6 -1.6
CHIX Global X China Financials ETF 10.9 66 3 16.4 +9.2
IXP iShares Global Comm Services ETF 10.6 46 23 5.5 -1.7
AIQ Global X Future Analytics Tech ETF 10.5 68 1 3.7 -3.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.5 60 9 8.4 +1.3

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:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.0 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.29 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.