iShares MSCI China Small Cap
ALTAR
Score™
10.0% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
8.5x P/Sales
ratio
0.6x
P/BV
ratio
0.8x Div.
yield
4.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI China Small Cap Index Fund seeks to track the performance of the MSCI China Small Cap Index Fund.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Sep 29, 2010
Assets (mns) $21
Currency USD
Expense ratio 59 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 248
Wgt avg mkt cap (mns) $1,072
Large cap (>$10bn) 1.5%
Mid cap ($2-10bn) 12.0%
Small cap (<$2bn) 85.3%
Developed mkts 61.3%
Emerging mkts 38.7%

TOP TEN HOLDINGS
ZAI LAB LTD. UNSPONSORED ADR 1.9 %
CNINSURE INC-ADR 1.9 %
CHINASOFT INTERNATIONAL LTD 1.4 %
GZI REAL ESTATE INVMNT TRUST 1.4 %
SEASPAN CORP 1.4 %
RENHE COMMERCIAL HOLDINGS 1.3 %
CHINA SCE PROPERTY HOLDINGS 1.2 %
CHINA OVERSEAS GRAND OCEANS 1.2 %
POWERLONG REAL ESTATE HOLDIN 1.1 %
GZI TRANSPORT LTD 1.1 %
Total 13.9 %

TOP COUNTRY EXPOSURE
CHINA 53.7 %
HONG KONG 30.8 %
SINGAPORE 0.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
1.6% -3.1% -0.2% -- 0.1%

Market Correlations
versus... Beta R-squared
S&P500 0.85 41%
MSCI EAFE 1.00 48%
MSCI Emg. Mkts. 0.91 64%

Technical Indicators
Recent close $39.03
30d moving avg. $39.61
Annualized volatility 15.9%
Short interest (ETF) 0.3%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.6%
Bid/Ask (% of price) 0.68%
ADV underlying (mns) $272

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI China Small Cap ETF based on the alternatives' overlap in portfolio holdings with ECNS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ECNS Expense: 59 bp ALTAR Score™: 10.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ECNS
Ticker Fund
Name
Overlap1
vs ECNS
(%)
Expense
ratio
(bp)
Savings
vs ECNS
(bp)
ALTAR
Score™
(%)
ALTAR
vs ECNS
(%)
HAO Invesco China Small Cap ETF 24.0 75 -16 9.5 -0.5
FEMS First Trust Emerging Markets Small Cap 10.0 80 -21 10.5 +0.5
EEMS iShares MSCI Emerging Market Small Cap 9.4 67 -8 6.5 -3.5
EWX SPDR S&P Emerging Markets Small Cap 8.8 65 -6 7.8 -2.2
KGRN KraneShares MSCI China Environment Index 6.8 80 -21 10.2 +0.2
DGS WisdomTree Emg. Mkts. Small Cap Dividend 6.6 63 -4 12.0 +2.1
TLTE FlexShares Mngstr Emerging Markets Factor Tilt 4.2 59 0 10.5 +0.5
TAO Invesco China Real Estate 3.9 70 -11 13.1 +3.2
PGJ Invesco Golden Dragon China 3.2 70 -11 3.8 -6.2
CHNA Loncar China BioPharma 3.2 79 -20 5.0 -4.9
EYLD Cambria Emerging Shareholder Yield 2.7 66 -7 10.9 +0.9
GAMR ETFMG Video Game Tech 2.3 75 -16 5.7 -4.2
KWEB KraneShares CSI China Internet 2.2 76 -17 4.0 -6.0
GXC SPDR S&P China ETF 2.1 59 0 9.2 -0.7
AVEM Avantis Emerging Markets Equity 2.1 33 26 8.5 -1.5
PBD Invesco Gbl Clean Energy 2.0 75 -16 -1.6 -11.5
TAN Invesco Global Solar Energy 1.9 70 -11 -3.3 -13.3
VSS Vanguard FTSE All World ex-US Small Cap 1.8 12 47 6.5 -3.5
CHIE Global X MSCI China Energy 1.7 66 -7 8.1 -1.9
GEX VanEck Vectors Global Alternative Energy 1.5 63 -4 4.0 -6.0

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 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
  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 MSCI China Small Cap
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 7.7 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 10.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.29 CATEGORY
AVERAGE
1.49
 
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.