iShares MSCI Emerging Markets ETF
ALTAR
Score™
7.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.6x P/Sales
ratio
1.3x
P/BV
ratio
1.6x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Emerging Markets Index fund seeks investment results that correspond to the price and yield performance of the MSCI Emerging Markets Index. The index consists of the stocks in developing economies around the world.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Apr 07, 2003
Assets (mns) $23,769
Currency USD
Expense ratio 68 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1197
Wgt avg mkt cap (mns) $159,802
Large cap (>$10bn) 73.4%
Mid cap ($2-10bn) 22.4%
Small cap (<$2bn) 1.4%
Developed mkts 9.4%
Emerging mkts 87.8%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 8.1 %
TENCENT HOLDINGS LTD 5.9 %
TAIWAN SEMICONDUCTOR MANUFAC 5.7 %
SAMSUNG ELECTRONICS CO LTD 3.7 %
MEITUAN DIANPING 1.7 %
RELIANCE INDUSTRIES LTD 1.3 %
NASPERS LTD-N SHS 1.2 %
JD.COM INC-ADR 1.0 %
CHINA CONSTRUCTION BANK-H 1.0 %
PING AN INSURANCE GROUP CO-H 1.0 %
Total 30.6 %

TOP COUNTRY EXPOSURE
CHINA 36.7 %
TAIWAN 12.6 %
SOUTH KOREA 11.9 %
INDIA 8.2 %
BRAZIL 4.5 %
HONG KONG 4.1 %
SOUTH AFRICA 3.4 %
SAUDI ARABIA 2.8 %
RUSSIA 2.6 %
THAILAND 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.2% 10.8% 8.4% 1.9% 9.8%

Market Correlations
versus... Beta R-squared
S&P500 0.87 63%
MSCI EAFE 1.05 76%
MSCI Emg. Mkts. 0.93 94%

Technical Indicators
Recent close $44.09
30d moving avg. $44.31
Annualized volatility 19.4%
Short interest (ETF) 22.0%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 40,995
Turnover 7.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $23,212

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares MSCI Emerging Markets ETF ETF based on the alternatives' overlap in portfolio holdings with EEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EEM Expense: 68 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EEM
Ticker Fund
Name
Overlap1
vs EEM
(%)
Expense
ratio
(bp)
Savings
vs EEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs EEM
(%)
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 92.8 65 3 7.6 0.0
IEMG iShares Core MSCI Emerging Markets ETF 87.5 13 55 8.1 +0.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 82.4 36 32 7.5 -0.1
SCHE Schwab Emerging Markets Equity ETF 79.8 11 57 8.1 +0.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 78.5 68 0 7.2 -0.4
FLAX Franklin FTSE Asia Ex Japan ETF 76.5 19 49 7.8 +0.2
EEMA iShares MSCI Emerging Markets Asia ETF 75.3 50 18 8.0 +0.4
VWO Vanguard FTSE Emerging Markets ETF 74.6 10 58 8.2 +0.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 73.4 30 38 7.9 +0.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 69.1 15 53 8.7 +1.1
JHEM John Hancock Multifactor Emerging Markets ETF 67.8 49 19 9.0 +1.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 66.8 45 23 7.7 +0.1
BKEM BNY Mellon Emerging Markets Equity ETF 65.7 11 57 8.4 +0.9
ESGE iShares ESG MSCI EM ETF 64.3 25 43 8.8 +1.2
SPEM SPDR Portfolio Emerging Markets ETF 61.4 11 57 8.0 +0.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 60.5 32 36 5.9 -1.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 55.6 59 9 11.3 +3.7
BKF iShares MSCI BRIC ETF 54.8 69 -1 7.7 +0.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 53.9 20 48 6.9 -0.7
GMF SPDR S&P Emerging Asia Pacific ETF 52.0 49 19 7.3 -0.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 50.0 30 38 9.0 +1.4
EMXC iShares MSCI Emerging Markets ex China ETF 47.5 25 43 8.3 +0.7
DVEM WisdomTree Emerging Markets Dividend Fund 47.4 32 36 7.4 -0.2
PXH Invesco FTSE RAFI Emerging Markets ETF 46.9 50 18 13.7 +6.1
AVEM Avantis Emerging Markets Equity ETF 45.6 33 35 9.1 +1.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 42.3 49 19 7.9 +0.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 42.3 49 19 8.1 +0.5
EEMO Invesco S&P Emerging Markets Momentum ETF 42.2 29 39 4.1 -3.5
MCHI iShares MSCI China ETF 40.7 59 9 7.9 +0.4
FLCH Franklin FTSE China ETF 39.7 19 49 8.5 +0.9
NUEM Nuveen ESG Emerging Markets Equity ETF 39.7 45 23 7.1 -0.5
GXC SPDR S&P China ETF 39.7 59 9 8.0 +0.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 39.2 40 28 7.4 -0.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 37.7 39 29 13.8 +6.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 37.0 95 -27 8.2 +0.7
CN Xtrackers MSCI All China Equity ETF 36.0 50 18 8.3 +0.7
KALL KraneShares FTSE Emerging Markets Plus ETF 35.6 49 19 8.2 +0.6
FDEM Fidelity Targeted Emerging Markets Factor ETF 35.4 45 23 8.7 +1.1
ISEM Invesco Strategic Emerging Markets ETF 34.8 35 33 10.9 +3.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 32.0 32 36 9.3 +1.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 30.8 25 43 8.1 +0.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 30.2 44 24 9.3 +1.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 29.4 16 52 6.9 -0.7
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 28.5 50 18 10.2 +2.6
AIA iShares Asia 50 ETF 28.5 50 18 8.1 +0.5
CHIL Global X MSCI China Large-Cap 50 ETF 28.1 29 39 7.9 +0.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 28.1 32 36 5.8 -1.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 27.9 40 28 7.1 -0.5
VSGX Vanguard ESG International Stock ETF 27.4 17 51 7.1 -0.5
EMMF WisdomTree Emerging Markets Multifactor Fund 26.9 48 20 9.7 +2.2
ACWX iShares MSCI ACWI ex U.S. ETF 26.3 32 36 7.3 -0.3
VYMI Vanguard International High Dividend Yield ETF 25.4 27 41 10.2 +2.6
IXUS ishares Core MSCI Total International Stock ETF 25.2 9 59 7.4 -0.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 24.6 45 23 9.3 +1.7
ROAM Hartford Multifactor Emerging Markets ETF 24.1 44 24 13.4 +5.8
VEU Vanguard FTSE All-World ex-US Index Fund 23.0 8 60 7.6 -0.0
VXUS Vanguard Total International Stock Index Fund 22.8 8 60 7.6 -0.0
RNEM Emerging Markets Equity Select ETF 22.6 75 -7 12.0 +4.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 22.0 86 -18 2.3 -5.3
XCEM Columbia EM Core ex-China ETF 21.9 16 52 7.3 -0.3
FDNI First Trust Dow Jones International Internet ETF 20.7 65 3 2.1 -5.5
ECON Columbia Emerging Markets Consumer ETF 20.6 59 9 5.0 -2.6
CWI SPDR MSCI ACWI ex-US ETF 20.3 30 38 7.3 -0.3
KWEB KraneShares CSI China Internet ETF 20.0 76 -8 2.1 -5.5
BICK First Trust BICK Index Fund 19.0 64 4 4.9 -2.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 18.6 45 23 14.8 +7.2
TTTN UP Fintech China-U.S. Internet Titans ETF 18.2 59 9 4.4 -3.2
PIE Invesco DWA Emerging Markets Momentum ETF 16.3 90 -22 5.2 -2.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.1 29 39 10.1 +2.5
FXI iShares China Large-Cap ETF 15.8 74 -6 13.9 +6.3
CHIQ Global X China Consumer ETF 14.8 65 3 7.2 -0.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 14.0 20 48 11.6 +4.0
OGIG O'Shares Global Internet Giants ETF 13.8 48 20 0.6 -7.0
PEK VanEck Vectors ChinaAMC CSI 300 ETF 13.3 60 8 4.0 -3.6
VIGI Vanguard International Dividend Appreciation ETF 13.2 20 48 5.6 -2.0
FNI First Trust Chindia ETF 12.6 60 8 2.6 -5.0
EWT iShares MSCI Taiwan ETF 12.6 59 9 6.2 -1.4
WUGI Esoterica NextG Economy ETF 12.6 75 -7 1.6 -6.0
DINT Davis Select International ETF 12.6 68 0 6.0 -1.6
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 12.6 18 50 5.2 -2.4
FLTW Franklin FTSE Taiwan ETF 12.5 19 49 6.3 -1.3
PGJ Invesco Golden Dragon China ETF 12.4 70 -2 3.5 -4.1
FRDM Freedom 100 Emerging Markets ETF 12.1 49 19 6.7 -0.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 11.7 20 48 6.3 -1.3
FLKR Franklin FTSE South Korea ETF 11.7 9 59 8.9 +1.4
AIQ Global X Future Analytics Tech ETF 11.7 68 0 4.1 -3.5
GBUY Goldman Sachs Motif New Age Consumer ETF 11.5 50 18 1.8 -5.8
EWY iShares MSCI South Korea ETF 11.4 59 9 8.6 +1.0
ACWI iShares MSCI ACWI ETF 11.2 32 36 6.0 -1.6
LOWC SPDR MSCI ACWI Low Carbon Target ETF 11.2 20 48 6.3 -1.3
DWLD Davis Select Worldwide ETF 10.9 63 5 6.7 -0.9
PNQI Invesco NASDAQ Internet ETF 10.9 60 8 1.0 -6.6
DEM WisdomTree Emerging Markets High Dividend Fund 10.9 63 5 15.4 +7.8
VPL Vanguard FTSE Pacific ETF 10.6 8 60 7.4 -0.2
EMFM Global X MSCI Next Emerging & Frontier ETF 10.4 66 2 9.2 +1.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.4 60 8 9.1 +1.5
JOYY Infusive Compounding Global Equities ETF 10.3 50 18 5.0 -2.6
BUYZ Franklin Disruptive Commerce ETF 10.0 50 18 -0.2 -7.7

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 Emerging Markets 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 12.5 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 CATEGORY
AVERAGE
1.43
 
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.