iShares MSCI EAFE ETF
ALTAR
Score™		 7.1% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 21.1x P/Sales
ratio		 1.3x
P/BV
ratio		 1.4x Div.
yield		 2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI EAFE Index fund seeks investment results that correspond to the price and yield performance of the MSCI EAFE Index. The index consists of the stocks in developed markets in Europe, Australia and the Far East.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Aug 14, 2001
Assets (mns) $47,650
Currency USD
Expense ratio 32 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 903
Wgt avg mkt cap (mns) $64,853
Large cap (>$10bn) 84.7%
Mid cap ($2-10bn) 14.5%
Small cap (<$2bn) 0.1%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
NESTLE SA-REG 2.6 %
ROCHE HOLDING AG-GENUSSCHEIN 1.8 %
NOVARTIS AG-REG 1.3 %
SAP AG 1.2 %
ASML HOLDING NV 1.1 %
ASTRAZENECA PLC 1.1 %
TOYOTA MOTOR CORP 1.0 %
LVMH MOET HENNESSY LOUIS VUI 0.9 %
SANOFI-AVENTIS 0.8 %
NOVO NORDISK A/S-B 0.8 %
Total 12.6 %

TOP COUNTRY EXPOSURE
JAPAN 24.5 %
BRITAIN 13.4 %
SWITZERLAND 10.6 %
FRANCE 10.2 %
GERMANY 9.4 %
AUSTRALIA 6.7 %
NETHERLANDS 4.8 %
HONG KONG 3.1 %
SWEDEN 3.0 %
DENMARK 2.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.4% -1.3% 2.0% 4.9% 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.81 82%
MSCI EAFE 0.96 98%
MSCI Emg. Mkts. 0.68 80%

Technical Indicators
Recent close $63.84
30d moving avg. $62.97
Annualized volatility 15.3%
Short interest (ETF) 6.4%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 21,946
Turnover 2.9%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $57,680

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares MSCI EAFE ETF ETF based on the alternatives' overlap in portfolio holdings with EFA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EFA Expense: 32 bp ALTAR Score™: 7.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EFA
Ticker Fund
Name		 Overlap1
vs EFA
(%)		 Expense
ratio
(bp)		 Savings
vs EFA
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EFA
(%)
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 95.2 35 -3 6.9 -0.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 91.1 20 12 7.1 +0.0
GSID Goldman Sachs MarketBeta International Equity ETF 91.0 20 12 7.4 +0.3
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 87.0 7 25 7.6 +0.5
HFXI IQ 50 Percent Hedged FTSE International ETF 86.8 20 12 7.4 +0.3
IEFA iShares Core MSCI EAFE ETF 84.9 7 25 7.3 +0.3
BKIE BNY Mellon International Equity ETF 83.8 4 28 7.4 +0.3
SCHF Schwab International Equity ETF 80.4 6 26 7.4 +0.3
IDEV iShares Core MSCI International Developed Markets ETF 75.9 5 27 7.3 +0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 72.9 20 12 7.0 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 72.5 4 28 7.2 +0.1
JHMD John Hancock Multifactor Developed International ETF 71.2 39 -7 7.5 +0.4
VEA Vanguard FTSE Developed Markets ETF 69.8 5 27 7.4 +0.3
IQSI IQ Candriam ESG International Equity ETF 68.2 15 17 7.3 +0.2
QEFA SPDR MSCI EAFE Quality Mix ETF 67.7 30 2 6.9 -0.2
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 64.1 35 -3 7.0 -0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 64.1 45 -13 8.8 +1.8
ACWX iShares MSCI ACWI ex U.S. ETF 63.1 32 0 7.3 +0.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 63.1 25 7 6.6 -0.5
IEUR iShares Core MSCI Europe ETF 62.3 9 23 7.3 +0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 61.9 45 -13 6.6 -0.5
FEU SPDR Portfolio Europe ETF 61.7 9 23 7.3 +0.2
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 61.6 30 2 6.9 -0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 61.5 40 -8 7.0 -0.1
FLEE Franklin FTSE Europe ETF 61.4 9 23 7.0 -0.1
FLEH Franklin FTSE Europe Hedged ETF 61.4 9 23 7.1 -0.0
DWM WisdomTree International Equity Fund 61.2 48 -16 8.4 +1.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 61.0 35 -3 8.6 +1.5
FNDF Schwab Fundamental International Large Co. Index ETF 60.9 25 7 8.8 +1.7
VGK Vanguard FTSE Europe ETF 60.9 8 24 7.4 +0.3
CWI SPDR MSCI ACWI ex-US ETF 60.4 30 2 7.2 +0.1
BBEU JPMorgan BetaBuilders Europe ETF 60.0 9 23 7.4 +0.3
IEV iShares Europe ETF 59.4 59 -27 6.8 -0.3
VEU Vanguard FTSE All-World ex-US Index Fund 58.5 8 24 7.5 +0.4
PDEV Principal International Multi-Factor Core Index ETF 57.7 25 7 7.9 +0.8
DOL WisdomTree International LargeCap Dividend Fund 55.8 48 -16 8.7 +1.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 55.8 39 -7 6.5 -0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 55.5 25 7 6.5 -0.6
IXUS ishares Core MSCI Total International Stock ETF 54.6 9 23 7.4 +0.3
EFG iShares MSCI EAFE Growth ETF 53.1 40 -8 4.6 -2.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 52.5 39 -7 8.4 +1.3
VXUS Vanguard Total International Stock Index Fund 52.4 8 24 7.5 +0.4
EFV iShares MSCI EAFE Value ETF 52.3 39 -7 9.7 +2.6
ISZE iShares Edge MSCI Intl Size Factor ETF 51.4 30 2 7.4 +0.3
VSGX Vanguard ESG International Stock ETF 51.3 17 15 7.1 +0.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 49.4 14 18 7.0 -0.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 49.2 16 16 6.9 -0.2
CIL VictoryShares International Volatility Weighted Index ETF 48.0 45 -13 6.7 -0.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 48.0 45 -13 6.7 -0.4
ISDX Invesco Strategic Developed ex-US ETF 48.0 23 9 7.4 +0.3
IQIN IQ 500 International ETF 45.9 25 7 8.8 +1.7
IDY Pacific Global International Equity Income ETF 45.0 39 -7 8.1 +1.0
AVDE Avantis International Equity ETF 41.7 23 9 7.8 +0.7
PQIN PGIM QMA Strategic Alpha International Equity ETF 40.0 29 3 7.7 +0.6
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 40.0 30 2 0.0 -7.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 38.1 30 2 6.1 -1.0
IMTM iShares Edge MSCI Intl Momentum Factor ETF 38.0 30 2 4.4 -2.7
VYMI Vanguard International High Dividend Yield ETF 37.7 32 0 10.1 +3.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 37.0 24 8 7.2 +0.1
RNDM Developed International Equity Select ETF 36.9 65 -33 6.3 -0.8
VPL Vanguard FTSE Pacific ETF 35.3 8 24 7.6 +0.5
IPAC iShares Core MSCI Pacific ETF 35.1 9 23 7.4 +0.3
TPIF Timothy Plan International ETF 34.7 62 -30 6.3 -0.8
RFDI First Trust Riverfront Dynamic Developed International ETF 34.2 83 -51 5.7 -1.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 33.5 20 12 5.5 -1.6
ESGG FlexShares STOXX Global ESG Impact Index Fund 33.1 42 -10 5.3 -1.8
SCID Global X Scientific Beta Europe ETF 32.8 39 -7 6.5 -0.6
RBIN Nationwide Risk-Based International Equity ETF 32.5 42 -10 6.2 -0.9
EZU iShares MSCI Eurozone ETF 32.2 49 -17 6.6 -0.5
QINT American Century Quality Diversified International ETF 32.0 39 -7 5.7 -1.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 31.9 45 -13 6.7 -0.4
QWLD SPDR MSCI World StrategicFactors ETF 31.7 30 2 6.0 -1.1
VGFO Virtus WMC Global Factor Opportunities ETF 31.1 49 -17 7.9 +0.8
EURZ Xtrackers Eurozone Equity ETF 30.6 9 23 7.1 -0.0
URTH iShares MSCI World ETF 30.3 24 8 5.5 -1.6
FDEV Fidelity Targeted International Factor ETF 30.2 39 -7 6.6 -0.5
IVLU iShares Edge MSCI Intl Value Factor ETF 30.2 30 2 11.6 +4.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 29.5 45 -13 7.1 +0.1
NUDM Nuveen ESG International Developed Markets Equity ETF 29.3 40 -8 6.9 -0.2
JPIN JPMorgan Diversified Return International Equity ETF 28.9 37 -5 7.9 +0.8
DTH WisdomTree DEFA Equity Income Fund 28.8 58 -26 9.8 +2.7
IGRO iShares International Dividend Growth ETF 28.6 22 10 8.0 +0.9
EUMV iShares Edge MSCI Min Vol Europe ETF 28.3 25 7 5.0 -2.1
IDHQ Invesco S&P International Developed Quality ETF 27.9 29 3 5.1 -2.0
OEUR O'shares FTSE Europe Quality Dividend ETF 27.5 48 -16 6.7 -0.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 27.0 29 3 8.6 +1.5
FIVA Fidelity International Value Factor ETF 26.8 39 -7 10.0 +2.9
ACWI iShares MSCI ACWI ETF 26.5 32 0 5.7 -1.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 25.8 35 -3 8.7 +1.6
IDMO Invesco S&P International Developed Momentum ETF 25.8 26 6 4.5 -2.6
IOO iShares Global 100 ETF 25.7 40 -8 4.6 -2.5
LOWC SPDR MSCI ACWI Low Carbon Target ETF 25.7 20 12 5.9 -1.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 25.6 20 12 6.0 -1.1
TOK iShares MSCI Kokusai ETF 24.6 25 7 5.4 -1.7
IDLV Invesco S&P International Developed Low Volatility ETF 24.5 25 7 6.8 -0.3
EWJ iShares MSCI Japan ETF 24.5 49 -17 7.2 +0.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 24.4 45 -13 7.3 +0.2
BBJP JPMorgan BetaBuilders Japan ETF 24.3 19 13 7.6 +0.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 24.1 25 7 7.3 +0.3

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 EAFE 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 10.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.59
 
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.