iShares MSCI BRIC ETF
ALTAR
Score™		 7.8% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 15.7x P/Sales
ratio		 1.4x
P/BV
ratio		 1.8x Div.
yield		 2.3%


  • 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) $141
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 651
Wgt avg mkt cap (mns) $197,164
Large cap (>$10bn) 80.4%
Mid cap ($2-10bn) 15.3%
Small cap (<$2bn) 0.6%
Developed mkts 16.4%
Emerging mkts 83.6%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 13.3 %
TENCENT HOLDINGS LTD 9.7 %
MEITUAN DIANPING 3.1 %
RELIANCE INDUSTRIES LTD 2.4 %
JD.COM INC-ADR 1.8 %
CHINA CONSTRUCTION BANK-H 1.8 %
PING AN INSURANCE GROUP CO-H 1.7 %
INFOSYS TECHNOLOGIES LTD 1.4 %
CHINA MOBILE LIMITED 1.2 %
NETEASE.COM INC-ADR 1.1 %
Total 37.4 %

TOP COUNTRY EXPOSURE
CHINA 64.8 %
INDIA 14.3 %
BRAZIL 8.0 %
HONG KONG 7.5 %
RUSSIA 4.6 %
NETHERLANDS 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
5.0% 20.2% 11.2% 3.1% 0.2%

Market Correlations
versus... Beta R-squared
S&P500 0.90 61%
MSCI EAFE 1.05 69%
MSCI Emg. Mkts. 0.94 89%

Technical Indicators
Recent close $45.63
30d moving avg. $46.85
Annualized volatility 20.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.5%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $14,221

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.8%


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 70.9 59 10 8.1 +0.3
FLCH Franklin FTSE China ETF 68.0 19 50 8.6 +0.8
GXC SPDR S&P China ETF 67.7 59 10 8.3 +0.6
KALL KraneShares FTSE Emerging Markets Plus ETF 59.1 49 20 8.3 +0.5
EEMA iShares MSCI Emerging Markets Asia ETF 58.1 50 19 7.8 +0.1
SCHE Schwab Emerging Markets Equity ETF 57.9 11 58 8.2 +0.4
CN Xtrackers MSCI All China Equity ETF 57.8 50 19 8.4 +0.6
EEM iShares MSCI Emerging Markets ETF 55.6 68 1 7.7 -0.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 53.4 68 1 7.3 -0.5
GMF SPDR S&P Emerging Asia Pacific ETF 53.3 49 20 7.6 -0.2
VWO Vanguard FTSE Emerging Markets ETF 52.6 10 59 8.3 +0.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 52.6 65 4 7.7 -0.1
FLAX Franklin FTSE Asia Ex Japan ETF 51.7 19 50 7.9 +0.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 50.5 30 39 8.0 +0.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 50.5 20 49 7.0 -0.7
IEMG iShares Core MSCI Emerging Markets ETF 50.2 13 56 8.2 +0.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 49.8 36 33 7.6 -0.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 49.0 32 37 6.1 -1.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 48.8 15 54 8.9 +1.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 47.5 32 37 6.1 -1.7
JHEM John Hancock Multifactor Emerging Markets ETF 47.1 49 20 8.9 +1.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 45.4 45 24 7.7 -0.0
ESGE iShares ESG MSCI EM ETF 45.4 25 44 8.9 +1.1
SPEM SPDR Portfolio Emerging Markets ETF 44.8 11 58 8.2 +0.4
CHIL Global X MSCI China Large-Cap 50 ETF 44.3 29 40 8.0 +0.2
PXH Invesco FTSE RAFI Emerging Markets ETF 40.1 50 19 14.0 +6.3
BKEM BNY Mellon Emerging Markets Equity ETF 37.8 11 58 8.7 +0.9
DVEM WisdomTree Emerging Markets Dividend Fund 36.8 32 37 7.5 -0.3
NUEM Nuveen ESG Emerging Markets Equity ETF 35.9 45 24 7.1 -0.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 35.6 95 -26 8.3 +0.5
AVEM Avantis Emerging Markets Equity ETF 34.7 33 36 9.2 +1.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 32.7 30 39 9.0 +1.3
ISEM Invesco Strategic Emerging Markets ETF 32.4 35 34 11.1 +3.3
KWEB KraneShares CSI China Internet ETF 31.1 76 -7 2.0 -5.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 30.1 59 10 11.4 +3.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 28.8 39 30 13.6 +5.8
FDNI First Trust Dow Jones International Internet ETF 28.1 65 4 2.2 -5.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 28.0 40 29 7.5 -0.3
FXI iShares China Large-Cap ETF 26.8 74 -5 13.9 +6.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 26.6 44 25 9.3 +1.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 26.5 86 -17 2.3 -5.5
ECON Columbia Emerging Markets Consumer ETF 26.5 59 10 4.6 -3.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 25.7 45 24 8.8 +1.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 25.5 25 44 8.1 +0.4
TTTN UP Fintech China-U.S. Internet Titans ETF 25.1 59 10 4.3 -3.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 24.5 49 20 8.1 +0.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 24.2 32 37 9.3 +1.5
EMMF WisdomTree Emerging Markets Multifactor Fund 22.9 48 21 9.7 +2.0
AIA iShares Asia 50 ETF 21.9 50 19 8.2 +0.4
EEMO Invesco S&P Emerging Markets Momentum ETF 21.6 29 40 6.5 -1.2
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 21.0 18 51 5.6 -2.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 20.8 45 24 9.2 +1.5
CHIQ Global X China Consumer ETF 20.7 65 4 7.4 -0.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 20.5 49 20 7.9 +0.2
BICK First Trust BICK Index Fund 19.9 64 5 4.6 -3.1
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 19.1 50 19 10.8 +3.0
FNI First Trust Chindia ETF 17.5 60 9 2.7 -5.1
CQQQ Invesco China Technology ETF 17.3 70 -1 4.0 -3.7
PGJ Invesco Golden Dragon China ETF 17.2 70 -1 3.4 -4.4
RNEM Emerging Markets Equity Select ETF 16.8 75 -6 12.2 +4.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 16.6 16 53 7.0 -0.7
OGIG O'Shares Global Internet Giants ETF 16.5 48 21 0.8 -7.0
GBUY Goldman Sachs Motif New Age Consumer ETF 16.4 50 19 1.8 -6.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 16.1 40 29 7.1 -0.6
VSGX Vanguard ESG International Stock ETF 15.6 17 52 7.2 -0.5
ROAM Hartford Multifactor Emerging Markets ETF 15.6 44 25 13.5 +5.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 15.5 45 24 14.8 +7.1
CHIC Global X Nasdaq China Technology ETF 14.6 66 3 4.2 -3.6
DINT Davis Select International ETF 14.5 68 1 6.1 -1.7
ACWX iShares MSCI ACWI ex U.S. ETF 14.3 32 37 7.4 -0.4
INDA iShares MSCI India ETF 14.3 69 0 5.5 -2.3
IXUS ishares Core MSCI Total International Stock ETF 14.2 9 60 7.5 -0.3
FLIN Franklin FTSE India ETF 14.1 19 50 5.7 -2.0
EPI WisdomTree India Earnings Fund 13.9 84 -15 8.7 +0.9
VIGI Vanguard International Dividend Appreciation ETF 13.9 20 49 5.6 -2.1
VEU Vanguard FTSE All-World ex-US Index Fund 13.9 8 61 7.7 -0.1
PNQI Invesco NASDAQ Internet ETF 13.6 60 9 1.1 -6.7
CWI SPDR MSCI ACWI ex-US ETF 13.2 30 39 7.3 -0.5
VXUS Vanguard Total International Stock Index Fund 13.2 8 61 7.7 -0.1
PIE Invesco DWA Emerging Markets Momentum ETF 13.0 90 -21 5.1 -2.7
ACWF iShares FactorSelect MSCI Global ETF 12.6 35 34 8.2 +0.5
DWLD Davis Select Worldwide ETF 12.5 63 6 6.8 -1.0
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 12.4 58 11 5.0 -2.7
PIN Invesco India ETF 12.4 78 -9 5.8 -1.9
PEK VanEck Vectors ChinaAMC CSI 300 ETF 12.2 60 9 7.2 -0.6
GIGE SoFi Gig Economy ETF 12.1 59 10 -0.7 -8.4
INDY iShares India 50 ETF 12.0 93 -24 5.7 -2.0
BUYZ Franklin Disruptive Commerce ETF 11.9 50 19 -0.1 -7.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 11.9 20 49 11.6 +3.8
EMXC iShares MSCI Emerging Markets ex China ETF 11.8 25 44 8.4 +0.6
NFTY First Trust India NIFTY 50 Equal Weight ETF 11.6 80 -11 8.5 +0.7
SOCL Global X Social Media ETF 11.4 65 4 1.8 -5.9
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.1 60 9 9.2 +1.5
JOYY Infusive Compounding Global Equities ETF 11.0 50 19 6.3 -1.5
DEM WisdomTree Emerging Markets High Dividend Fund 10.6 63 6 15.4 +7.6
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 10.4 60 9 4.5 -3.2
VYMI Vanguard International High Dividend Yield ETF 10.3 27 42 10.5 +2.7
FPXI First Trust International Equity Opportunities ETF 10.3 70 -1 3.3 -4.5
IXP iShares Global Comm Services ETF 10.2 46 23 5.9 -1.8

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%.

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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 14.1 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 7.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.30 CATEGORY
AVERAGE		 1.44
 
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.