iShares MSCI Emerging Markets Small Cap ETF
ALTAR
Score™
7.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.6x P/Sales
ratio
0.8x
P/BV
ratio
0.9x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Emerging Markets Small Cap 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 of the MSCI Emerging Markets Small Cap Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Aug 16, 2011
Assets (mns) $198
Currency USD
Expense ratio 69 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1245
Wgt avg mkt cap (mns) $1,112
Large cap (>$10bn) 0.3%
Mid cap ($2-10bn) 10.2%
Small cap (<$2bn) 87.2%
Developed mkts 9.1%
Emerging mkts 88.0%

TOP TEN HOLDINGS
HARMONY GOLD MINING CO LTD 0.5 %
SEEGENE INC 0.4 %
PARADE TECHNOLOGIES, LTD. 0.4 %
UNIMICRON TECHNOLOGY CORP 0.4 %
SUPERMAX CORP BHD 0.4 %
CHINA YOUZAN LIMITED 0.3 %
TOTVS SA 0.3 %
WEIMOB, INC. 0.3 %
SIMPLO TECHNOLOGY CO LTD 0.3 %
MACRONIX INTERNATIONAL 0.3 %
Total 3.5 %

TOP COUNTRY EXPOSURE
TAIWAN 19.9 %
SOUTH KOREA 11.9 %
INDIA 9.3 %
BRAZIL 6.6 %
CHINA 6.0 %
HONG KONG 3.8 %
SOUTH AFRICA 3.1 %
THAILAND 3.1 %
MALAYSIA 2.9 %
SAUDI ARABIA 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.1% -9.7% -1.7% -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 0.93 62%
MSCI EAFE 1.12 78%
MSCI Emg. Mkts. 0.97 91%

Technical Indicators
Recent close $41.61
30d moving avg. $39.62
Annualized volatility 20.1%
Short interest (ETF) 1.2%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 21
Turnover 0.4%
Bid/Ask (% of price) 0.58%
ADV underlying (mns) $9,015

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EEMS Expense: 69 bp ALTAR Score™: 7.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EEMS
Ticker Fund
Name
Overlap1
vs EEMS
(%)
Expense
ratio
(bp)
Savings
vs EEMS
(bp)
ALTAR
Score™
(%)
ALTAR
vs EEMS
(%)
EWX SPDR S&P Emerging Markets Small Cap ETF 44.6 65 4 6.1 -1.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 31.8 63 6 12.5 +4.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 19.0 59 10 11.0 +3.2
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 14.2 11 58 6.8 -1.0
AVEM Avantis Emerging Markets Equity ETF 12.0 33 36 8.9 +1.1
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 11.6 80 -11 17.3 +9.5
ECNS iShares MSCI China Small-Cap ETF 10.1 59 10 11.1 +3.3
SMIN iShares MSCI India Small Cap ETF 9.2 76 -7 3.3 -4.5
DEM WisdomTree Emerging Markets High Dividend Fund 8.9 63 6 14.0 +6.2
IEMG iShares Core MSCI Emerging Markets ETF 7.7 13 56 7.9 +0.1
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 6.8 50 19 10.3 +2.5
GWX SPDR S&P International Small Cap ETF 6.7 40 29 6.7 -1.1
EWZS iShares MSCI Brazil Small-Cap ETF 6.6 59 10 3.8 -4.1
VWO Vanguard FTSE Emerging Markets ETF 6.0 10 59 8.0 +0.2
EPI WisdomTree India Earnings Fund 6.0 85 -16 8.7 +0.9
FLLA Franklin FTSE Latin America ETF 4.9 19 50 6.7 -1.1
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 4.8 64 5 4.6 -3.2
BRF VanEck Vectors Brazil Small-Cap ETF 4.7 63 6 2.9 -5.0
SPEM SPDR Portfolio Emerging Markets ETF 4.6 11 58 7.8 -0.0
ROAM Hartford Multifactor Emerging Markets ETF 4.6 44 25 14.7 +6.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 4.0 44 25 8.9 +1.1
SCHC Schwab International Small-Cap Equity ETF 4.0 11 58 6.9 -0.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 3.9 49 20 6.8 -1.0
FLBR Franklin FTSE Brazil ETF 3.8 19 50 5.2 -2.6
FNDC Schwab Fundamental International Small Co. Index ETF 3.7 39 30 7.4 -0.4
GMF SPDR S&P Emerging Asia Pacific ETF 3.7 49 20 7.2 -0.6
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 3.6 10 59 9.3 +1.5
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 3.6 80 -11 10.7 +2.9
VNQI Vanguard Global ex-US Real Estate Index Fund 3.5 12 57 10.1 +2.3
ISDS Invesco Strategic Developed ex-US Small Company ETF 3.4 35 34 6.8 -1.0
PIE Invesco DWA Emerging Markets Momentum ETF 3.3 90 -21 5.2 -2.6
EYLD Cambria Emerging Shareholder Yield ETF 3.2 66 3 16.2 +8.4
THD iShares MSCI Thailand ETF 3.1 59 10 10.5 +2.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 3.1 29 40 9.8 +2.0
FLIN Franklin FTSE India ETF 2.9 19 50 5.6 -2.2
PACA Xtrackers MSCI Latin America Pacific Alliance ETF 2.8 45 24 8.3 +0.5
DVYE iShares Emerging Markets Dividend ETF 2.7 49 20 16.3 +8.5
FLTW Franklin FTSE Taiwan ETF 2.5 19 50 6.3 -1.5
FLKR Franklin FTSE South Korea ETF 2.5 9 60 9.7 +1.8
VIDI Vident International Equity Fund 2.4 59 10 11.4 +3.6
KSA iShares MSCI Saudi Arabia Capped ETF 2.3 74 -5 5.8 -2.0
EDIV SPDR S&P Emerging Markets Dividend ETF 2.3 49 20 11.0 +3.2
FLZA Franklin FTSE South Africa ETF 2.3 19 50 11.2 +3.4
IXUS ishares Core MSCI Total International Stock ETF 2.2 9 60 7.4 -0.4
LVIN Hartford Multifactor Low Volatility International Equity ETF 2.2 29 40 12.3 +4.5
SCHE Schwab Emerging Markets Equity ETF 2.2 11 58 7.8 +0.0
KMED KraneShares Emerging Markets Healthcare Index ETF 2.2 79 -10 2.0 -5.8
PIN Invesco India ETF 2.1 78 -9 5.7 -2.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.1 49 20 8.7 +0.9
PICK iShares MSCI Global Metals & Mining Producers ETF 2.1 39 30 7.3 -0.5
VEGI iShares MSCI Global Agriculture Producers ETF 2.0 39 30 6.0 -1.8
ISEM Invesco Strategic Emerging Markets ETF 2.0 35 34 10.0 +2.2
VSGX Vanguard ESG International Stock ETF 2.0 17 52 7.2 -0.6
FDEM Fidelity Targeted Emerging Markets Factor ETF 2.0 45 24 9.6 +1.8
FBZ First Trust Brazil AlphaDEX Fund 2.0 80 -11 5.4 -2.5
VXUS Vanguard Total International Stock Index Fund 1.9 8 61 7.6 -0.2
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.8 86 -17 2.1 -5.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.8 95 -26 9.1 +1.3
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 1.7 58 11 5.0 -2.9
EWW iShares MSCI Mexico Capped ETF 1.7 49 20 9.3 +1.5
EIDO iShares MSCI Indonesia ETF 1.6 59 10 10.1 +2.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 1.6 15 54 8.6 +0.8
DRW WisdomTree Global ex-US Real Estate Fund 1.6 58 11 10.8 +3.0
EEMO Invesco S&P Emerging Markets Momentum ETF 1.6 29 40 6.6 -1.2
GXC SPDR S&P China ETF 1.4 59 10 7.6 -0.2
SDIV Global X SuperDividend ETF 1.4 59 10 13.5 +5.7
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 1.4 51 18 13.6 +5.8
PXH Invesco FTSE RAFI Emerging Markets ETF 1.3 50 19 13.1 +5.3
KWEB KraneShares CSI China Internet ETF 1.3 76 -7 1.7 -6.1
FLAX Franklin FTSE Asia Ex Japan ETF 1.2 19 50 7.7 -0.1
VPL Vanguard FTSE Pacific ETF 1.2 8 61 7.8 -0.0
RNEM Emerging Markets Equity Select ETF 1.1 75 -6 10.5 +2.7
AFK VanEck Vectors Africa Index ETF 1.1 79 -10 8.7 +0.9
IDLB Invesco FTSE International Low Beta Equal Weight ETF 1.1 45 24 7.2 -0.7
FLSA Franklin FTSE Saudi Arabia ETF 1.1 39 30 6.3 -1.6
GREK Global X FTSE Greece 20 ETF 1.1 57 12 6.2 -1.6
EPOL iShares MSCI Poland Capped ETF 1.1 59 10 10.1 +2.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 1.1 39 30 12.8 +5.0
TUR iShares MSCI Turkey ETF 1.1 59 10 17.1 +9.3
KGRN KraneShares MSCI China Environment Index ETF 1.0 80 -11 4.8 -3.0
PGJ Invesco Golden Dragon China ETF 1.0 70 -1 3.1 -4.7
QAT iShares MSCI Qatar Capped ETF 1.0 59 10 7.0 -0.8
GAMR ETFMG Video Game Tech ETF 1.0 75 -6 2.2 -5.6
EEMD AAM S&P Emerging Markets High Dividend Value ETF 0.9 50 19 20.6 +12.8
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 0.9 80 -11 3.8 -4.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.9 32 37 6.1 -1.7
ARGT Global X MSCI Argentina ETF 0.9 60 9 5.1 -2.7
AGT iShares MSCI Argentina & Global Exposure ETF A 0.9 59 10 5.1 -2.7
PBD Invesco Global Clean Energy ETF 0.8 75 -6 1.6 -6.2
VT Vanguard Total World Stock Index Fund 0.8 8 61 6.2 -1.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.8 36 33 8.2 +0.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.8 9 60 6.0 -1.8
LIT Global X Lithium & Battery Tech ETF 0.8 75 -6 2.8 -5.0
IDX VanEck Vectors Indonesia Index ETF 0.8 57 12 9.0 +1.2
GVAL Cambria Global Value ETF 0.8 69 0 10.9 +3.1
XCEM Columbia EM Core ex-China ETF 0.8 16 53 7.4 -0.4
ECH iShares MSCI Chile ETF 0.8 59 10 7.6 -0.3
FTAG First Trust Indxx Global Agriculture ETF 0.7 70 -1 6.4 -1.5

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 Emerging Markets Small Cap 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 7.4 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 7.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.