iShares MSCI Emerg Mkt Minimum Volatility
ALTAR
Score™
8.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
13.5x P/Sales
ratio
1.2x
P/BV
ratio
1.5x Div.
yield
3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Emerging Markets Minimum Volatility Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the MSCI Emerging Markets Minimum Volatility Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Oct 20, 2011
Assets (mns) $5,556
Currency USD
Expense ratio 25 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Multi-Factor
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 335
Wgt avg mkt cap (mns) $34,761
Large cap (>$10bn) 55.9%
Mid cap ($2-10bn) 42.0%
Small cap (<$2bn) 1.8%
Developed mkts 8.8%
Emerging mkts 87.2%

TOP TEN HOLDINGS
BANK CENTRAL ASIA PT 1.7 %
TAIWAN COOPERATIVE FINANCIAL 1.6 %
GUANGDONG INVESTMENT LTD 1.6 %
FIRST FINANCIAL HOLDING CO 1.6 %
CHUNGHWA TELECOM CO., LTD 1.5 %
TAIWAN MOBILE CO. LTD. 1.5 %
FAR EASTONE TELECOMMUNICATIONS CO. 1.4 %
CHINA MOBILE LIMITED 1.3 %
ALIBABA GROUP HOLDING LTD. SPONSOR 1.3 %
AIRPORTS OF THAILAND PC-NVDR 1.2 %
Total 14.8 %

TOP COUNTRY EXPOSURE
CHINA 19.2 %
TAIWAN 16.0 %
INDIA 8.8 %
THAILAND 7.8 %
HONG KONG 7.1 %
SOUTH KOREA 7.0 %
MALAYSIA 5.9 %
SAUDI ARABIA 3.9 %
INDONESIA 3.7 %
PHILIPPINES 3.3 %

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.
5.6% 8.9% 1.7% -- 3.7%

Market Correlations
versus... Beta R-squared
S&P500 0.55 36%
MSCI EAFE 0.76 59%
MSCI Emg. Mkts. 0.72 86%

Technical Indicators
Recent close $58.06
30d moving avg. $58.47
Annualized volatility 11.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 355
Turnover 0.4%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $12,239

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EEMV Expense: 25 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EEMV
Ticker Fund
Name
Overlap1
vs EEMV
(%)
Expense
ratio
(bp)
Savings
vs EEMV
(bp)
ALTAR
Score™
(%)
ALTAR
vs EEMV
(%)
QEMM SPDR MSCI Emerging Markets Quality Mix 47.3 30 -5 9.3 +0.4
EELV Invesco S&P Emg Mkts Low Volatility 37.1 29 -4 10.2 +1.3
QLVE FlexShares Emerging Markets Quality Low Volatility 35.1 40 -15 8.4 -0.5
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 33.9 45 -20 9.2 +0.3
EEMA iShares MSCI Emg Mkts Asia 30.4 50 -25 8.8 -0.2
EEM iShares MSCI Emerging Markets 30.2 67 -42 8.6 -0.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 29.7 30 -5 8.6 -0.3
JHEM John Hancock Multifactor Emerging Markets 29.0 55 -30 8.9 -0.1
DBEM Xtrackers MSCI Emg. Mkts. Hedged 29.0 65 -40 8.5 -0.4
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 28.1 45 -20 8.8 -0.1
IEMG iShares Core MSCI Emerging Markets 28.0 14 11 8.7 -0.3
SCHE Schwab Emerging Markets Equity 27.9 13 12 8.7 -0.2
FDEM Fidelity Targeted Emerging Markets Factor 27.0 45 -20 8.8 -0.1
AAXJ iShares MSCI Asia ex-Japan 27.0 67 -42 8.3 -0.6
FLAX Franklin FTSE Asia Ex Japan 25.8 19 6 8.7 -0.2
CEZ Victory CEMP Emerging Market Volatility Weighted 25.7 50 -25 9.2 +0.2
DVEM WisdomTree Emerging Markets Dividend 25.0 32 -7 11.3 +2.4
ESGE iShares MSCI EM ESG Optimized 24.9 25 0 9.4 +0.4
MXDE Nationwide Maximum Diversification Emg Mkts Core 24.7 64 -39 5.5 -3.5
EMMF WisdomTree Emerging Markets Multifactor Fund 24.4 48 -23 10.1 +1.1

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 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 Emerg Mkt Minimum Volatility
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 13.2 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 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.