iShares MSCI EAFE
ALTAR
Score™
6.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
15.3x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
3.3%


  • 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) $61,671
Currency USD
Expense ratio 31 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 933
Wgt avg mkt cap (mns) $64,674
Large cap (>$10bn) 85.3%
Mid cap ($2-10bn) 14.3%
Small cap (<$2bn) 0.3%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 2.2 %
ROCHE HOLDING AG-GENUSSCHEIN 1.5 %
NOVARTIS AG-REG 1.3 %
TOYOTA MOTOR CORP 1.1 %
HSBC HOLDINGS PLC 1.0 %
SAP AG 0.9 %
BP PLC 0.9 %
TOTAL SA 0.9 %
ROYAL DUTCH SHELL PLC-A SHS 0.9 %
ASTRAZENECA PLC 0.9 %
Total 11.6 %

TOP COUNTRY EXPOSURE
JAPAN 24.5 %
BRITAIN 15.7 %
FRANCE 10.3 %
SWITZERLAND 9.6 %
GERMANY 8.6 %
AUSTRALIA 6.7 %
NETHERLANDS 4.3 %
HONG KONG 3.2 %
SPAIN 2.7 %
SWEDEN 2.4 %

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.
18.4% 12.1% 4.3% 5.2% 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.77 69%
MSCI EAFE 1.00 98%
MSCI Emg. Mkts. 0.71 79%

Technical Indicators
Recent close $68.07
30d moving avg. $68.00
Annualized volatility 11.1%
Short interest (ETF) 6.6%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 18,600
Turnover 2.1%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $48,108

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI EAFE 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: 31 bp ALTAR Score™: 6.9%


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 95.0 35 -4 6.9 +0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free 90.3 20 11 7.0 +0.1
HFXI IQ 50 Percent Hedged FTSE Int'l 87.0 20 11 7.3 +0.4
PBDM Invesco PureBeta FTSE Developed ex-North America 86.8 7 24 7.5 +0.6
IEFA iShares Core MSCI EAFE 84.2 7 24 7.0 +0.1
SCHF Schwab International Equity 80.5 6 25 7.3 +0.5
IDEV iShares Core MSCI Int'l Developed Markets 75.9 5 26 7.1 +0.2
SPDW SPDR Portfolio World ex-US 73.7 4 27 7.1 +0.2
VEA Vanguard Europe Pacific 70.8 5 26 7.3 +0.4
JHMD John Hancock Multifactor Developed International 70.4 45 -14 7.1 +0.3
ESGD iShares MSCI EAFE ESG Optimized 70.0 20 11 6.8 -0.1
PXF Invesco FTSE-RAFI Developed ex-US 66.8 45 -14 8.1 +1.2
DWM WisdomTree DEFA Fund 66.0 48 -17 7.6 +0.7
ACWX iShares MSCI ACWI ex-US 65.8 31 0 7.3 +0.5
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 65.6 35 -4 7.9 +1.0
FNDF Schwab Fundamental Intl Large Cap 64.8 25 6 7.5 +0.6
QEFA SPDR MSCI EAFE Quality Mix 64.6 30 1 6.6 -0.3
DBAW Xtrackers MSCI All World ex-US Hedged 63.7 40 -9 7.3 +0.4
GSIE Goldman Sachs ActiveBeta Int'l Equity 62.6 25 6 6.5 -0.4
CWI SPDR MSCI ACWI ex-US 61.7 30 1 7.4 +0.5

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 EAFE
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 10.7 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 31 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.63
 
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.