ETF Research Center

iShares MSCI Chile Investable Market Index Fund seeks investment results that correspond to the MSCI Chile Investable Market Index.

FUND BASICS
Category	Emerging Market Equities
Fund Sponsor	Barclays Global Investors Services
Website	www.ishares.com
Inception date	Nov 12, 2007
Assets (mns)	$978
Currency	USD
Expense ratio	58 bp
Distributions	Semi-annual

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	State Street Bank & Trust
Weighting	Market Cap
Index replication	Optimized
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	26
Wgt avg mkt cap (mns)	$9,162
Large cap (>$10bn)	44.1%
Mid cap ($2-10bn)	35.9%
Small cap (<$2bn)	19.9%
Developed mkts	0.0%
Emerging mkts	100.0%

TOP TEN HOLDINGS
Total	64.8 %
SOC QUIMICA Y MINERA CHILE-B	14.5 %
BANCO DE CHILE	11.6 %
LAN AIRLINES SA	8.5 %
S.A.C.I. FALABELLA	5.0 %
PARQUE ARAUCO S.A.	4.8 %
BANCO DE CREDITO E INVERSION	4.6 %
EMPRESAS COPEC SA	4.1 %
CENCOSUD SA	4.1 %
BANCO SANTANDER CHILE	4.0 %
PLAZA SA	3.7 %

TOP COUNTRY EXPOSURE
	CHILE	94.9 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru February 28)
Year-to-date	1 year	5 years	10 years	Since Incep.
7.7%	55.8%	11.3%	6.0%	1.7%

Market Correlations
versus...	Beta	R-squared
S&P500	0.62	27%
MSCI EAFE	0.86	37%
MSCI Emg. Mkts.	0.86	45%

Technical Indicators
Recent close	$38.88
30d moving avg.	$40.96
Annualized volatility	19.8%
Short interest (ETF)	3.0%
Relative strength (RSI)	44

Liquidity measures
Avg. volume (thou.)	1,265
Turnover	5.0%
Bid/Ask (% of price)	0.09%
ADV underlying (mns)	$76

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 116 potential alternatives to the iShares MSCI Chile ETF ETF based on the alternatives' overlap in portfolio holdings with ECH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

ECH

Expense:

58 bp

ALTAR Score™:

7.6%

ALTERNATIVE ETFs BASED ON OVERLAP WITH ECH
Ticker	Fund Name	Overlap¹ vs ECH (%)	Expense ratio (bp)	Savings vs ECH (bp)	ALTAR Score™ (%)	ALTAR vs ECH (%)
FLN	First Trust Latin America AlphaDEX Fund	11.8	80	-22	10.2	+2.5
ARGT	Global X MSCI Argentina ETF	8.1	59	-1	3.4	-4.2
FLLA	Franklin FTSE Latin America ETF	8.1	19	39	10.5	+2.9
EPU	iShares MSCI Peru and Global Exposure ETF	6.9	59	-1	4.8	-2.8
EDOG	ALPS Emerging Sector Dividend Dogs ETF	5.2	60	-2	10.3	+2.7
GVAL	Cambria Global Value ETF	5.0	68	-10	9.7	+2.1
EELV	Invesco S&P Emerging Markets Low Volatility ETF	4.5	29	29	8.9	+1.3
UEVM	VictoryShares Emerging Markets Value Momentum ETF	4.4	45	13	10.0	+2.4
OTGL	OTG Latin America ETF	4.3	269	-211	7.7	+0.1
ILF	iShares Latin America 40 ETF	4.1	48	10	9.6	+1.9
JPEM	JPMorgan Diversified Return Emerging Markets Equity ETF	2.5	44	14	9.9	+2.3
XC	WisdomTree Emerging Markets Ex-China Fund	2.3	32	26	6.6	-1.0
COLO	Global X MSCI Colombia ETF	2.3	62	-4	16.6	+9.0
WOOD	iShares Global Timber & Forestry ETF	2.3	42	16	11.2	+3.6
FDEM	Fidelity Emerging Markets Multifactor ETF	2.2	25	33	11.7	+4.0
EMMF	WisdomTree Emerging Markets Multifactor Fund	2.1	48	10	9.6	+2.0
FEMS	First Trust Emerging Markets Small Cap AlphaDEX Fund	2.1	80	-22	12.1	+4.5
VIDI	Vident International Equity Strategy ETF	1.7	61	-3	9.1	+1.4
DGRE	WisdomTree Emerging Markets Quality Dividend Growth Fund	1.6	32	26	5.6	-2.0
DGS	WisdomTree Emerging Markets SmallCap Dividend Fund	1.5	58	0	8.9	+1.3
KARS	KraneShares Electric Vehicles & Future Mobility Index ETF	1.5	72	-14	2.3	-5.4
FEM	First Trust Emerging Markets AlphaDEX Fund	1.4	80	-22	9.5	+1.9
RFEM	First Trust Riverfront Dynamic Emerging Markets ETF	1.4	95	-37	11.4	+3.8
EEMO	Invesco S&P Emerging Markets Momentum ETF	1.3	29	29	8.6	+0.9
FTHF	First Trust Emerging Markets Human Flourishing ETF	1.3	75	-17	7.2	-0.4
EEMV	iShares MSCI Emerging Markets Min Vol Factor ETF	1.3	25	33	6.9	-0.7
WWJD	Inspire International ETF	1.3	80	-22	6.7	-0.9
ROAM	Hartford Multifactor Emerging Markets ETF	1.2	44	14	8.6	+0.9
DVYE	iShares Emerging Markets Dividend ETF	1.1	49	9	17.8	+10.2
GEM	Goldman Sachs ActiveBeta Emerging Markets Equity ETF	1.0	45	13	9.3	+1.7
CUT	Invesco MSCI Global Timber ETF	1.0	61	-3	8.3	+0.7
RNEM	First Trust Emerging Markets Equity Select ETF	1.0	75	-17	8.3	+0.6
KEMX	KraneShares MSCI Emerging Markets EX China Index ETF	0.9	24	34	6.4	-1.2
EMXF	iShares ESG Advanced MSCI EM ETF	0.9	16	42	7.8	+0.2
VEXC	Vanguard Emerging Markets Ex-China ETF	0.8	7	51	6.5	-1.2
MFEM	PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF	0.8	50	8	9.2	+1.6
EEMS	iShares MSCI Emerging Markets Small Cap ETF	0.8	70	-12	7.0	-0.7
SDG	iShares MSCI Global Sustainable Development Goals ETF	0.8	49	9	4.9	-2.7
XCNY	SPDR S&P Emerging Markets ex-China ETF	0.8	15	43	6.4	-1.2
EMGF	iShares Emerging Markets Equity Factor ETF	0.8	25	33	10.4	+2.7
STXE	Strive Emerging Markets Ex-China ETF	0.7	32	26	6.5	-1.2
RWX	SPDR Dow Jones International Real Estate ETF	0.7	59	-1	7.4	-0.2
FNDE	Schwab Fundamental Emerging Markets Large Co. Index ETF	0.7	39	19	14.6	+7.0
EMXC	iShares MSCI Emerging Markets ex China ETF	0.7	25	33	6.1	-1.5
LDEM	iShares ESG MSCI EM Leaders ETF	0.7	17	41	13.1	+5.5
NUEM	Nuveen ESG Emerging Markets Equity ETF	0.7	36	22	6.8	-0.9
BLES	Inspire Global Hope ETF	0.6	61	-3	6.2	-1.4
TLTE	FlexShares Morningstar Emerging Markets Factor Tilt Index	0.6	59	-1	9.5	+1.9
QEMM	SPDR MSCI Emerging Markets StrategicFactors ETF	0.6	30	28	8.6	+1.0
AVXC	Avantis Emerging Markets Ex-China Equity ETF	0.6	33	25	7.3	-0.4
AVEE	Avantis Emerging Markets Small Cap Equity ETF	0.6	42	16	8.2	+0.6
ESGE	iShares ESG Aware MSCI EM ETF	0.6	25	33	9.5	+1.9
VWO	Vanguard FTSE Emerging Markets ETF	0.6	7	51	10.0	+2.3
VNQI	Vanguard Global ex-U.S. Real Estate ETF	0.6	12	46	8.9	+1.2
BKEM	BNY Mellon Emerging Markets Equity ETF	0.6	11	47	9.0	+1.4
HAUZ	DBX ETF Trust - Xtrackers International Real Estate ETF	0.6	10	48	8.7	+1.1
IEMG	iShares Core MSCI Emerging Markets ETF	0.5	9	49	9.3	+1.7
AVES	Avantis Emerging Markets Value ETF	0.5	36	22	9.7	+2.1
ECON	Columbia Emerging Markets Consumer ETF	0.5	49	9	8.0	+0.3
RAYE	Rayliant Quantamental Emerging Market ex-China Equity ETF	0.5	88	-30	8.9	+1.3
EEMX	SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	0.5	30	28	9.3	+1.6
BBEM	JPMorgan BetaBuilders Emerging Markets Equity ETF	0.5	15	43	9.1	+1.5
GSEE	Goldman Sachs MarketBeta Emerging Markets Equity ETF	0.5	36	22	8.7	+1.1
EVLU	iShares MSCI Emerging Markets Value Factor ETF	0.5	35	23	12.4	+4.8
DEM	WisdomTree Emerging Markets High Dividend Fund	0.5	63	-5	11.4	+3.8
SCHE	Schwab Emerging Markets Equity ETF	0.5	11	47	10.3	+2.6
EEM	iShares MSCI Emerging Markets ETF	0.5	69	-11	9.1	+1.4
SPEM	SPDR Portfolio Emerging Markets ETF	0.5	7	51	10.3	+2.7
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	0.5	66	-8	8.3	+0.6
JHEM	John Hancock Multifactor Emerging Markets ETF	0.5	49	9	8.6	+1.0
PXH	Invesco FTSE RAFI Emerging Markets ETF	0.5	49	9	14.4	+6.8
EMCR	Xtrackers Emerging Markets Carbon Reduction and Climate Impr	0.5	15	43	10.1	+2.5
EWX	SPDR S&P Emerging Markets Small Cap ETF	0.4	65	-7	7.1	-0.5
AVSE	Avantis Responsible Emerging Markets Equity ETF	0.4	33	25	7.7	+0.1
XCEM	Columbia EM Core ex-China ETF	0.4	16	42	5.9	-1.7
DEXC	Dimensional Emerging Markets ex China Core EquityETF	0.4	53	5	6.1	-1.5
XSOE	WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	0.4	32	26	8.6	+1.0
AVEM	Avantis Emerging Markets Equity ETF	0.4	33	25	8.1	+0.5
DFSE	Dimensional Emerging Markets Sustainability Core 1 ETF	0.4	41	17	7.8	+0.1
EFRA	iShares Environmental Infrastructure and Industrials ETF	0.3	47	11	5.1	-2.5
DFEV	Dimensional Emerging Markets Value ETF	0.3	43	15	10.9	+3.3
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	0.3	38	20	7.9	+0.3
DFAE	Dimensional Emerging Core Equity Market ETF	0.3	35	23	8.0	+0.3
XT	iShares Exponential Technologies ETF	0.3	46	12	4.6	-3.0
JSTC	Adasina Social Justice All Cap Global ETF	0.2	89	-31	5.0	-2.6
VYMI	Vanguard International High Dividend Yield ETF	0.2	17	41	8.6	+1.0
PIO	Invesco Global Water ETF	0.2	75	-17	4.5	-3.1
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ETF	0.2	33	25	7.8	+0.2
VSS	Vanguard FTSE All-World ex-US Small-Cap ETF	0.2	8	50	6.8	-0.8
RWO	SPDR Dow Jones Global Real Estate ETF	0.2	50	8	6.9	-0.8
VSGX	Vanguard ESG International Stock ETF	0.2	10	48	7.4	-0.2
IXUS	iShares Core MSCI Total International Stock ETF	0.2	7	51	7.2	-0.4
ACWX	iShares MSCI ACWI ex U.S. ETF	0.2	34	24	7.0	-0.6
GXUS	Goldman Sachs MarketBeta Total International Equity ETF	0.2	18	40	7.0	-0.6
VXUS	Vanguard Total International Stock ETF	0.2	5	53	7.3	-0.3
DEHP	Dimensional Emerging Markets High Profitability ETF	0.2	41	17	5.7	-1.9
ACWV	iShares MSCI Global Min Vol Factor ETF	0.1	20	38	5.8	-1.8
VEU	Vanguard FTSE All-World ex-US Index Fund	0.1	4	54	7.4	-0.2
RXI	iShares Global Consumer Discretionary ETF	0.1	41	17	8.6	+1.0
DBAW	Xtrackers MSCI All World ex US Hedged Equity ETF	0.1	41	17	6.6	-1.0
DFAX	Dimensional World ex U.S. Core Equity 2 ETF	0.1	30	28	7.0	-0.6
NZAC	SPDR MSCI ACWI Climate Paris Aligned ETF	0.1	12	46	5.0	-2.7
KXI	iShares Global Consumer Staples ETF	0.1	41	17	5.3	-2.3
GUNR	FlexShares Morningstar Global Upstream Natural Resources Ind	0.1	46	12	7.4	-0.2
IXG	iShares Global Financials ETF	0.1	42	16	6.9	-0.7
CRBN	iShares MSCI ACWI Low Carbon Target ETF	0.1	20	38	5.3	-2.3
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	0.1	47	11	5.1	-2.5
VT	Vanguard Total World Stock ETF	0.1	6	52	5.6	-2.0
EXI	iShares Global Industrials ETF	0.1	42	16	3.9	-3.8
ACWI	iShares MSCI ACWI ETF	0.1	32	26	5.3	-2.4
GLOF	iShares Global Equity Factor ETF	0.0	20	38	6.3	-1.4
DEW	WisdomTree Global High Dividend Fund	0.0	58	0	7.6	-0.1
PICK	iShares MSCI Global Metals & Mining Producers ETF	0.0	39	19	9.1	+1.5
QLVE	FlexShares Emerging Markets Quality Low Volatility Index Fun	0.0	40	18	7.1	-0.6
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	0.0	9	49	5.4	-2.2
CWI	SPDR MSCI ACWI ex-US ETF	0.0	30	28	7.1	-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

	2020	2021	2022	2023	2024	2025E	2026E
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

	2024	2025E	2026E
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 Chile ETF
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	10.9	%
Divided by: Fwd. P/BV	1.3	x
Less: Expense ratio	58	bp
Equals: ALTAR Score	7.6	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.67	CATEGORY AVERAGE	1.52

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.