iShares MSCI China A ETF
ALTAR
Score™		 8.7% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 11.4x P/Sales
ratio		 1.1x
P/BV
ratio		 1.5x Div.
yield		 2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI China A ETF tracks a market-cap-weighted index of large- and midcap Chinese equity listed in Shanghai and Shenzhen.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Jun 13, 2016
Assets (mns) $314
Currency USD
Expense ratio 65 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Value
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 467
Wgt avg mkt cap (mns) $38,529
Large cap (>$10bn) 63.9%
Mid cap ($2-10bn) 34.7%
Small cap (<$2bn) 1.4%
Developed mkts 4.5%
Emerging mkts 95.5%

TOP TEN HOLDINGS
KWEICHOW MOUTAI CO LTD-A 5.2 %
PING AN INSURANCE (GROUP) COMPANY 2.8 %
CHINA MERCHANTS BANK -A 2.4 %
WULIANGYE YIBIN CO LTD-A 1.7 %
JIANGSU HENGRUI MEDICINE CO., LTD. 1.5 %
CHINA YANGTZE POWER CO LTD-A 1.4 %
INDUSTRIAL BANK CO LTD -A 1.2 %
SHANGHAI PUDONG DEVEL BANK-A 1.1 %
HANGZHOU HIKVISION DIGITAL-A 1.1 %
FOSHAN HAITIAN FLAVOURING AND FOOD 1.0 %
Total 19.5 %

TOP COUNTRY EXPOSURE
CHINA 88.4 %
BRITISH VIRGIN ISLANDS 0.1 %









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.
-10.7% -6.7% -- -- 4.2%

Market Correlations
versus... Beta R-squared
S&P500 0.70 26%
MSCI EAFE 0.78 31%
MSCI Emg. Mkts. 0.81 49%

Technical Indicators
Recent close $27.66
30d moving avg. $29.01
Annualized volatility 21.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 98
Turnover 0.9%
Bid/Ask (% of price) 0.42%
ADV underlying (mns) $37,846

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 92 potential alternatives to the iShares MSCI China A ETF ETF based on the alternatives' overlap in portfolio holdings with CNYA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CNYA Expense: 65 bp ALTAR Score™: 8.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CNYA
Ticker Fund
Name		 Overlap1
vs CNYA
(%)		 Expense
ratio
(bp)		 Savings
vs CNYA
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs CNYA
(%)
KBA KraneShares Bosera MSCI China A Share ETF 87.3 60 5 8.7 +0.1
ASHX Xtrackers MSCI China A Inclusion Equity ETF 87.0 60 5 8.7 +0.1
PEK VanEck Vectors ChinaAMC CSI 300 ETF 72.8 60 5 9.4 +0.7
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 72.5 65 0 9.3 +0.6
WCHN WisdomTree ICBCCS S&P China 500 Fund 45.0 55 10 9.8 +1.1
AFTY Pacer CSOP FTSE China A50 ETF 38.3 70 -5 11.3 +2.7
KALL KraneShares FTSE Emerging Markets Plus ETF 33.4 49 16 10.1 +1.4
KFYP KraneShares CICC China Leaders 100 Index ETF 20.2 70 -5 13.5 +4.8
CHIL Global X MSCI China Large-Cap 50 ETF 18.0 29 36 10.6 +1.9
CXSE WisdomTree China ex-State-Owned Enterprises Fund 17.4 32 33 8.2 -0.5
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF 15.5 65 0 4.7 -4.0
CHIS Global X MSCI China Consumer Staples ETF 14.7 65 0 4.4 -4.3
CHIX Global X China Financials ETF 14.7 65 0 19.4 +10.7
GXC SPDR S&P China ETF 13.9 59 6 10.1 +1.4
MCHI iShares MSCI China ETF 10.8 59 6 10.2 +1.5
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 10.7 65 0 5.3 -3.4
CHII Global X China Industrials ETF 10.4 66 -1 13.5 +4.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 9.8 25 40 9.7 +1.1
CHIK Global X MSCI China Information Technology ETF 9.8 65 0 12.5 +3.8
FLCH Franklin FTSE China ETF 8.9 19 46 10.4 +1.8
BKF iShares MSCI BRIC ETF 8.3 69 -4 10.0 +1.4
OBOR KraneShares MSCI One Belt One Road Index ETF 7.6 79 -14 11.6 +2.9
KURE KraneShares MSCI All China Health Care Index ETF 7.4 65 0 3.7 -4.9
CHIH Global X MSCI China Health Care ETF 7.4 65 0 4.6 -4.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 7.1 30 35 10.8 +2.2
CQQQ Invesco China Technology ETF 7.1 70 -5 5.1 -3.5
CHIM Global X China Materials ETF 6.4 65 0 11.9 +3.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.4 32 33 11.4 +2.7
EMCG WisdomTree Emerging Markets Consumer Growth Fund 5.3 32 33 9.2 +0.5
CHIQ Global X China Consumer ETF 5.2 65 0 12.1 +3.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 5.0 32 33 8.5 -0.2
PXH Invesco FTSE RAFI Emerging Markets ETF 4.9 50 15 16.0 +7.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 4.8 68 -3 9.4 +0.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 4.8 14 51 11.3 +2.6
GMF SPDR S&P Emerging Asia Pacific ETF 4.6 49 16 9.4 +0.7
NUEM Nuveen ESG Emerging Markets Equity ETF 4.5 45 20 9.3 +0.6
EEMA iShares MSCI Emerging Markets Asia ETF 4.5 50 15 10.1 +1.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 4.4 45 20 10.6 +1.9
EEM iShares MSCI Emerging Markets ETF 4.3 68 -3 10.0 +1.4
DEM WisdomTree Emerging Markets High Dividend Fund 4.3 63 2 16.6 +7.9
SCHE Schwab Emerging Markets Equity ETF 4.2 13 52 10.3 +1.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 4.2 65 0 10.0 +1.3
KMED KraneShares Emerging Markets Healthcare Index ETF 4.1 79 -14 3.0 -5.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 4.1 45 20 10.3 +1.7
ESGE iShares ESG MSCI EM ETF 4.0 25 40 11.6 +2.9
VWO Vanguard FTSE Emerging Markets ETF 4.0 10 55 10.5 +1.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 4.0 30 35 10.4 +1.7
IEMG iShares Core MSCI Emerging Markets ETF 4.0 14 51 10.5 +1.8
FLAX Franklin FTSE Asia Ex Japan ETF 3.9 19 46 10.0 +1.3
SPEM SPDR Portfolio Emerging Markets ETF 3.6 11 54 10.2 +1.6
CHIR Global X MSCI China Real Estate ETF 3.6 65 0 18.5 +9.9
VEGI iShares MSCI Global Agriculture Producers ETF 3.3 39 26 7.5 -1.2
EMMF WisdomTree Emerging Markets Multifactor Fund 2.7 48 17 11.8 +3.2
CHIU Global X MSCI China Utilities ETF 2.7 65 0 10.0 +1.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.5 60 5 10.1 +1.4
CHIC Global X Nasdaq China Technology ETF 2.1 65 0 4.8 -3.8
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 1.9 45 20 11.8 +3.1
DVEM WisdomTree Emerging Markets Dividend Fund 1.7 32 33 11.0 +2.3
CHIE Global X China Energy ETF 1.6 66 -1 11.2 +2.6
VNQI Vanguard Global ex-US Real Estate Index Fund 1.4 12 53 11.7 +3.0
KGRN KraneShares MSCI China Environment Index ETF 1.4 80 -15 9.9 +1.3
ACWX iShares MSCI ACWI ex U.S. ETF 1.3 32 33 9.4 +0.7
PICK iShares MSCI Global Metals & Mining Producers ETF 1.3 39 26 10.9 +2.3
JOYY Infusive Compounding Global Equities ETF 1.2 50 15 5.2 -3.5
IXUS ishares Core MSCI Total International Stock ETF 1.2 9 56 9.5 +0.9
BLOK Amplify Transformational Data Sharing ETF 1.1 70 -5 5.0 -3.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.9 40 25 9.2 +0.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.9 20 45 9.2 +0.5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.9 63 2 16.2 +7.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.8 39 26 15.3 +6.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.8 20 45 8.2 -0.5
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.8 70 -5 8.9 +0.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.8 20 45 8.2 -0.5
CWI SPDR MSCI ACWI ex-US ETF 0.8 30 35 9.4 +0.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.7 8 57 9.7 +1.0
VXUS Vanguard Total International Stock Index Fund 0.7 8 57 9.7 +1.0
REMX VanEck Vectors Rare Earth/Strategic Metals ETF 0.6 59 6 4.2 -4.5
SDG iShares Sustainable MSCI Global Impact ETF 0.6 49 16 7.5 -1.1
ACWI iShares MSCI ACWI ETF 0.5 32 33 7.8 -0.8
ROBO Robo Global Robotics & Automation Index ETF 0.5 95 -30 5.3 -3.4
ACWF iShares FactorSelect MSCI Global ETF 0.5 35 30 10.2 +1.5
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 0.5 20 45 13.0 +4.3
BATT Amplify Advanced Battery Metals & Materials ETF 0.4 72 -7 5.3 -3.4
ACWV iShares Edge MSCI Min Vol Global ETF 0.4 20 45 6.8 -1.9
VT Vanguard Total World Stock Index Fund 0.4 8 57 8.2 -0.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.3 65 0 8.7 +0.1
FILL iShares MSCI Global Energy Producers ETF 0.2 39 26 8.5 -0.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 0.2 16 49 8.8 +0.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 56 7.9 -0.8
CUT Invesco MSCI Global Timber ETF 0.1 55 10 12.0 +3.4
SDEM Global X SuperDividend Emerging Markets ETF 0.1 67 -2 26.0 +17.3
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.0 11 54 9.2 +0.5

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 China A 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 13.6 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 8.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.40 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.