iShares Edge MSCI Multifactor Emerging Markets ETF
ALTAR
Score™
8.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.6x P/Sales
ratio
0.8x
P/BV
ratio
1.3x Div.
yield
3.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Edge MSCI Multifactor Emerging Markets ETF tracks an index of large- and midcap emerging market firms. Stocks are selected and weighted to increase exposure to 4 factors (quality, value, momentum and small size) while maintaining similar characteristics to the MSCI Emerging Markets Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Dec 08, 2015
Assets (mns) $544
Currency USD
Expense ratio 45 bp
Distributions Semi-annual

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 240
Wgt avg mkt cap (mns) $92,466
Large cap (>$10bn) 50.5%
Mid cap ($2-10bn) 43.5%
Small cap (<$2bn) 4.2%
Developed mkts 14.3%
Emerging mkts 82.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 5.5 %
TENCENT HOLDINGS LTD 4.1 %
TAIWAN SEMICONDUCTOR MANUFAC 3.2 %
INFOSYS TECHNOLOGIES LTD 2.7 %
CHINA MOBILE LIMITED 2.3 %
YUM CHINA HOLDINGS, INC. 2.1 %
ANGLOGOLD ASHANTI LTD 2.0 %
GOLD FIELDS LTD 1.9 %
SAMSUNG ELECTRONICS CO LTD 1.6 %
VIPSHOP HOLDINGS LTD SPONSORED ADR 1.6 %
Total 26.9 %

TOP COUNTRY EXPOSURE
CHINA 34.2 %
TAIWAN 15.8 %
HONG KONG 10.7 %
SOUTH AFRICA 7.7 %
SOUTH KOREA 7.2 %
INDIA 6.8 %
BRAZIL 5.6 %
SAUDI ARABIA 2.8 %
QATAR 2.4 %
RUSSIA 1.2 %

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.
-3.6% 7.4% -- -- 8.3%

Market Correlations
versus... Beta R-squared
S&P500 0.92 65%
MSCI EAFE 1.04 70%
MSCI Emg. Mkts. 0.92 90%

Technical Indicators
Recent close $44.24
30d moving avg. $42.81
Annualized volatility 19.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 31
Turnover 0.3%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $17,378

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EMGF Expense: 45 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EMGF
Ticker Fund
Name
Overlap1
vs EMGF
(%)
Expense
ratio
(bp)
Savings
vs EMGF
(bp)
ALTAR
Score™
(%)
ALTAR
vs EMGF
(%)
EMMF WisdomTree Emerging Markets Multifactor Fund 35.6 48 -3 9.3 +0.5
DVEM WisdomTree Emerging Markets Dividend Fund 33.7 32 13 8.2 -0.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 30.5 45 0 7.8 -1.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 27.7 95 -50 9.2 +0.4
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 27.4 45 0 13.1 +4.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 25.3 32 13 8.9 +0.1
EEMA iShares MSCI Emerging Markets Asia ETF 24.3 50 -5 7.5 -1.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 24.1 30 15 8.7 -0.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 24.0 40 5 7.3 -1.6
EEM iShares MSCI Emerging Markets ETF 24.0 68 -23 7.4 -1.5
NUEM Nuveen ESG Emerging Markets Equity ETF 23.5 45 0 7.0 -1.9
JHEM John Hancock Multifactor Emerging Markets ETF 23.5 49 -4 8.4 -0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 23.5 30 15 7.8 -1.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 23.4 65 -20 7.4 -1.5
IEMG iShares Core MSCI Emerging Markets ETF 22.9 13 32 7.9 -1.0
ESGE iShares ESG MSCI EM ETF 22.9 25 20 8.6 -0.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 22.6 68 -23 7.0 -1.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 22.6 36 9 8.1 -0.8
SCHE Schwab Emerging Markets Equity ETF 21.6 11 34 7.9 -0.9
FLAX Franklin FTSE Asia Ex Japan ETF 21.6 19 26 7.7 -1.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 21.4 32 13 6.2 -2.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 21.2 49 -4 7.7 -1.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 20.9 25 20 7.8 -1.1
VWO Vanguard FTSE Emerging Markets ETF 20.9 10 35 8.0 -0.9
ROAM Hartford Multifactor Emerging Markets ETF 20.6 44 1 14.6 +5.7
SPEM SPDR Portfolio Emerging Markets ETF 20.5 11 34 7.8 -1.0
BKF iShares MSCI BRIC ETF 20.0 69 -24 7.4 -1.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 19.9 15 30 8.6 -0.3
MCHI iShares MSCI China ETF 19.7 59 -14 7.8 -1.0
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 19.5 64 -19 4.5 -4.3
GXC SPDR S&P China ETF 19.4 59 -14 8.0 -0.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 19.3 20 25 6.7 -2.1
FEM First Trust Emerging Markets AlphaDEX Fund 19.0 80 -35 12.8 +4.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 18.9 39 6 12.8 +4.0
PXH Invesco FTSE RAFI Emerging Markets ETF 18.5 50 -5 13.3 +4.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 18.3 44 1 9.0 +0.1
ISEM Invesco Strategic Emerging Markets ETF 18.2 35 10 10.3 +1.4
FLCH Franklin FTSE China ETF 17.9 19 26 8.4 -0.5
GMF SPDR S&P Emerging Asia Pacific ETF 17.8 49 -4 7.3 -1.6
AVEM Avantis Emerging Markets Equity ETF 17.6 33 12 8.7 -0.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 17.2 45 0 9.5 +0.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 17.0 32 13 6.1 -2.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.7 29 16 9.9 +1.0
KALL KraneShares FTSE Emerging Markets Plus ETF 16.5 49 -4 8.1 -0.8
PIE Invesco DWA Emerging Markets Momentum ETF 16.3 90 -45 4.6 -4.2
CN Xtrackers MSCI All China Equity ETF 15.8 50 -5 8.1 -0.8
ECON Columbia Emerging Markets Consumer ETF 15.7 59 -14 4.5 -4.4
EWT iShares MSCI Taiwan ETF 15.7 59 -14 5.6 -3.3
EEMO Invesco S&P Emerging Markets Momentum ETF 15.3 29 16 6.3 -2.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 14.9 59 -14 10.9 +2.1
DEM WisdomTree Emerging Markets High Dividend Fund 14.6 63 -18 14.2 +5.3
CHIL Global X MSCI China Large-Cap 50 ETF 14.5 29 16 8.4 -0.5
BKEM BNY Mellon Emerging Markets Equity ETF 14.2 11 34 8.4 -0.5
RNEM Emerging Markets Equity Select ETF 13.9 75 -30 11.5 +2.7
FLTW Franklin FTSE Taiwan ETF 13.5 19 26 6.0 -2.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 13.5 70 -25 13.4 +4.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 13.2 50 -5 10.3 +1.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 12.9 86 -41 2.2 -6.7
VIDI Vident International Equity Fund 12.8 59 -14 11.1 +2.2
CHIQ Global X China Consumer ETF 12.8 65 -20 7.0 -1.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 12.6 16 29 6.9 -2.0
KWEB KraneShares CSI China Internet ETF 12.4 76 -31 1.8 -7.0
EMXC iShares MSCI Emerging Markets ex China ETF 12.3 25 20 8.0 -0.9
FXI iShares China Large-Cap ETF 11.3 74 -29 13.2 +4.3
TTTN UP Fintech China-U.S. Internet Titans ETF 11.1 59 -14 4.2 -4.7
ACWF iShares FactorSelect MSCI Global ETF 10.7 35 10 7.7 -1.2
AIA iShares Asia 50 ETF 10.6 50 -5 8.0 -0.9
FDNI First Trust Dow Jones International Internet ETF 10.3 65 -20 2.2 -6.7
FCA First Trust China AlphaDEX Fund 10.0 80 -35 13.5 +4.6
VSGX Vanguard ESG International Stock ETF 9.8 17 28 7.1 -1.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 9.7 49 -4 7.6 -1.2
OGIG O'Shares Global Internet Giants ETF 9.5 48 -3 0.7 -8.2
ACWX iShares MSCI ACWI ex U.S. ETF 9.4 32 13 7.3 -1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 9.3 40 5 7.0 -1.9
GBUY Goldman Sachs Motif New Age Consumer ETF 8.8 50 -5 1.8 -7.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 8.6 47 -2 12.1 +3.3
IQDF FlexShares International Quality Dividend Index Fund 8.5 47 -2 12.2 +3.4
OBOR KraneShares MSCI One Belt One Road Index ETF 8.5 79 -34 8.9 +0.1
IXUS ishares Core MSCI Total International Stock ETF 8.4 9 36 7.4 -1.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 8.3 29 16 12.2 +3.3
WUGI Esoterica NextG Economy ETF 8.3 75 -30 1.7 -7.1
EZA iShares MSCI South Africa ETF 8.1 59 -14 7.8 -1.1
JOYY Infusive Compounding Global Equities ETF 8.1 50 -5 3.6 -5.2
FNI First Trust Chindia ETF 8.1 60 -15 2.7 -6.2
XCEM Columbia EM Core ex-China ETF 8.0 16 29 7.1 -1.7
EDIV SPDR S&P Emerging Markets Dividend ETF 8.0 49 -4 11.5 +2.7
PEK VanEck Vectors ChinaAMC CSI 300 ETF 7.9 60 -15 7.1 -1.7
VXUS Vanguard Total International Stock Index Fund 7.9 8 37 7.5 -1.3
FLZA Franklin FTSE South Africa ETF 7.7 19 26 11.7 +2.8
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 7.7 51 -6 14.1 +5.2
CHIC Global X Nasdaq China Technology ETF 7.7 66 -21 3.9 -5.0
AIQ Global X Future Analytics Tech ETF 7.7 68 -23 4.2 -4.7
PGJ Invesco Golden Dragon China ETF 7.2 70 -25 3.2 -5.6
DVYE iShares Emerging Markets Dividend ETF 7.2 49 -4 16.7 +7.8
BICK First Trust BICK Index Fund 7.1 64 -19 4.4 -4.5
EWY iShares MSCI South Korea ETF 7.1 59 -14 8.2 -0.7
ONLN ProShares Online Retail ETF 7.1 58 -13 0.8 -8.0
VYMI Vanguard International High Dividend Yield ETF 7.0 32 13 10.1 +1.2
VEU Vanguard FTSE All-World ex-US Index Fund 7.0 8 37 7.5 -1.3

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%.

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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 Edge MSCI Multifactor Emerging Markets 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 11.8 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 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.