ETF Research Center

iShares Asia/ Pacific Dividend 30 Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones Asia / Pacific Select Dividend 30 Index.

FUND BASICS
Category	International Equities
Fund Sponsor	BlackRock Fund Advisors
Website	www.ishares.com
Inception date	Feb 24, 2012
Assets (mns)	$33
Currency	USD
Expense ratio	49 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	State Street Bank & Trust
Weighting	Dividend
Index replication	Full
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	31
Wgt avg mkt cap (mns)	$17,385
Large cap (>$10bn)	37.2%
Mid cap ($2-10bn)	35.1%
Small cap (<$2bn)	27.6%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	42.7 %
CSR LIMITED	5.3 %
JB HI-FI LTD	5.1 %
HARVEY NORMAN HOLDINGS LTD	4.7 %
SUPER RETAIL GROUP LTD	4.4 %
NATIONAL AUSTRALIA BANK LTD	4.4 %
MCMILLAN SHAKESPEARE LTD	4.0 %
BENDIGO AND ADELAIDE BANK	3.9 %
SPARK NEW ZEALAND LIMITED	3.8 %
WESTPAC BANKING CORP	3.5 %
PCCW LIMITED	3.5 %

TOP COUNTRY EXPOSURE
	AUSTRALIA	55.9 %
	HONG KONG	17.9 %
	JAPAN	10.0 %
	SINGAPORE	8.7 %
	NEW ZEALAND	6.9 %

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.
13.6%	11.1%	0.8%	--	3.2%

Market Correlations
versus...	Beta	R-squared
S&P500	0.59	49%
MSCI EAFE	0.70	58%
MSCI Emg. Mkts.	0.55	60%

Technical Indicators
Recent close	$44.12
30d moving avg.	$43.36
Annualized volatility	10.2%
Short interest (ETF)	0.1%
Relative strength (RSI)	74

Liquidity measures
Avg. volume (thou.)	2
Turnover	0.3%
Bid/Ask (% of price)	0.29%
ADV underlying (mns)	$981

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Asia/Pacific Dividend 30 ETF based on the alternatives' overlap in portfolio holdings with DVYA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

DVYA

Expense:

49 bp

ALTAR Score™:

8.3%

ALTERNATIVE ETFs BASED ON OVERLAP WITH DVYA
Ticker	Fund Name	Overlap¹ vs DVYA (%)	Expense ratio (bp)	Savings vs DVYA (bp)	ALTAR Score™ (%)	ALTAR vs DVYA (%)
EFAS	Global X MSCI SuperDividend EAFE	20.3	55	-6	8.5	+0.1
BBAX	JPMorgan BetaBuilders Developed Asia ex-Japan	19.1	19	30	6.6	-1.7
EPP	iShares MSCI Pacific ex-Japan	19.1	48	1	6.4	-1.9
EWA	iShares MSCI Australia	17.8	47	2	5.7	-2.6
FLAU	Franklin FTSE Australia	17.7	9	40	6.1	-2.2
IDV	iShares DJ Int'l Select Dividend	15.3	49	0	8.5	+0.2
FGD	First Trust DJ Global Select Dividend	15.3	58	-9	9.3	+1.0
IDOG	ALPS International Sector Dividend Dogs	11.3	50	-1	7.4	-0.9
IDHD	Invesco S&P Intl Developed High Div Low Volatility	10.9	30	19	6.5	-1.8
AXJL	WisdomTree Asia Pacific Ex-Japan	10.6	48	1	9.2	+0.9
LVHI	Legg Mason International Low Volatility High Dividend	10.4	40	9	9.1	+0.8
RFAP	First Trust Riverfront Dynamic Asia Pacific	9.7	83	-34	7.4	-1.0
FIDI	Fidelity International High Dividend	9.6	39	10	10.1	+1.8
CID	Victory CEMP International High Div Volatility Wtd	8.9	45	4	9.0	+0.7
SCIX	Global X Scientific Beta Asia ex-Japan	8.6	38	11	6.2	-2.1
SDIV	Global X Superdividend	8.5	58	-9	11.2	+2.9
DOO	WisdomTree Int'l Dividend Ex-Financials	7.7	58	-9	8.1	-0.2
GHII	Invesco S&P High Income Infrastructure	7.2	45	4	4.9	-3.5
ENZL	iShares MSCI New Zealand	6.9	47	2	3.3	-5.0
FYLD	Cambria Foreign Shareholder	6.7	59	-10	8.2	-0.1

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	**	**	**	**	**	**	**
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

	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 Asia/Pacific Dividend 30
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	13.2	%
Divided by: Fwd. P/BV	1.5	x
Less: Expense ratio	49	bp
Equals: ALTAR Score	8.3	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.95	CATEGORY AVERAGE	1.63

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.