iShares Edge MSCI Multifactor Emerging Markets ETF
ALTAR
Score™
9.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.1x P/Sales
ratio
0.8x
P/BV
ratio
1.3x Div.
yield
3.4%


  • 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) $581
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 238
Wgt avg mkt cap (mns) $106,369
Large cap (>$10bn) 50.2%
Mid cap ($2-10bn) 43.8%
Small cap (<$2bn) 4.1%
Developed mkts 14.0%
Emerging mkts 82.6%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 6.7 %
TENCENT HOLDINGS LTD 4.3 %
TAIWAN SEMICONDUCTOR MANUFAC 3.3 %
INFOSYS TECHNOLOGIES LTD 3.3 %
YUM CHINA HOLDINGS, INC. 2.2 %
CHINA MOBILE LIMITED 2.1 %
UNITED MICROELECTRONICS CORP 2.0 %
SAMSUNG ELECTRONICS CO LTD 1.8 %
LI NING CO LTD 1.7 %
KIA MOTORS CORPORATION 1.7 %
Total 29.2 %

TOP COUNTRY EXPOSURE
CHINA 34.5 %
TAIWAN 16.3 %
HONG KONG 10.2 %
INDIA 8.1 %
SOUTH KOREA 7.8 %
SOUTH AFRICA 7.3 %
BRAZIL 5.0 %
SAUDI ARABIA 3.1 %
QATAR 2.5 %
RUSSIA 1.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.7% 10.2% -- -- 8.2%

Market Correlations
versus... Beta R-squared
S&P500 0.88 63%
MSCI EAFE 1.02 69%
MSCI Emg. Mkts. 0.92 91%

Technical Indicators
Recent close $45.03
30d moving avg. $44.66
Annualized volatility 19.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 35
Turnover 0.3%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $12,585

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™: 9.1%


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 9.7 +0.5
DVEM WisdomTree Emerging Markets Dividend Fund 35.1 32 13 7.3 -1.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 32.1 45 0 7.5 -1.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 29.1 95 -50 8.1 -1.0
EEMA iShares MSCI Emerging Markets Asia ETF 26.6 50 -5 7.7 -1.5
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 26.2 45 0 14.5 +5.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 25.8 40 5 7.3 -1.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 25.7 45 0 8.5 -0.6
EEM iShares MSCI Emerging Markets ETF 25.5 68 -23 7.4 -1.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 25.3 30 15 7.6 -1.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 25.3 32 13 9.0 -0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 25.0 65 -20 7.4 -1.7
NUEM Nuveen ESG Emerging Markets Equity ETF 25.0 45 0 6.8 -2.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 24.8 30 15 8.8 -0.4
IEMG iShares Core MSCI Emerging Markets ETF 24.5 13 32 7.9 -1.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 24.3 68 -23 7.0 -2.1
ESGE iShares ESG MSCI EM ETF 24.3 25 20 8.5 -0.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 24.2 36 9 7.3 -1.8
FLAX Franklin FTSE Asia Ex Japan ETF 23.4 19 26 7.7 -1.5
JHEM John Hancock Multifactor Emerging Markets ETF 23.3 49 -4 8.7 -0.4
EEMO Invesco S&P Emerging Markets Momentum ETF 23.1 29 16 4.0 -5.1
SCHE Schwab Emerging Markets Equity ETF 23.0 11 34 7.9 -1.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 22.6 32 13 5.7 -3.5
VWO Vanguard FTSE Emerging Markets ETF 22.1 10 35 8.0 -1.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 21.8 25 20 8.0 -1.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 21.8 15 30 8.4 -0.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 21.7 49 -4 8.0 -1.2
SPEM SPDR Portfolio Emerging Markets ETF 21.6 11 34 7.7 -1.4
BKF iShares MSCI BRIC ETF 21.2 69 -24 7.4 -1.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 20.8 20 25 6.7 -2.4
ROAM Hartford Multifactor Emerging Markets ETF 20.7 44 1 13.1 +4.0
MCHI iShares MSCI China ETF 20.2 59 -14 7.6 -1.5
GXC SPDR S&P China ETF 19.7 59 -14 7.7 -1.4
ISEM Invesco Strategic Emerging Markets ETF 19.3 35 10 10.7 +1.6
PXH Invesco FTSE RAFI Emerging Markets ETF 19.1 50 -5 13.3 +4.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 19.0 39 6 13.4 +4.2
GMF SPDR S&P Emerging Asia Pacific ETF 18.6 49 -4 7.1 -2.1
FLCH Franklin FTSE China ETF 18.4 19 26 8.2 -1.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 18.1 44 1 9.2 +0.0
AVEM Avantis Emerging Markets Equity ETF 17.9 33 12 8.8 -0.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 17.7 32 13 11.4 +2.3
FEM First Trust Emerging Markets AlphaDEX Fund 17.6 80 -35 13.9 +4.7
KALL KraneShares FTSE Emerging Markets Plus ETF 17.3 49 -4 8.0 -1.2
ECON Columbia Emerging Markets Consumer ETF 17.1 59 -14 4.9 -4.2
CN Xtrackers MSCI All China Equity ETF 16.8 50 -5 8.0 -1.1
EWT iShares MSCI Taiwan ETF 16.2 59 -14 6.1 -3.1
CHIL Global X MSCI China Large-Cap 50 ETF 15.7 29 16 7.5 -1.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 15.6 29 16 10.1 +0.9
PIE Invesco DWA Emerging Markets Momentum ETF 15.5 90 -45 5.0 -4.2
DEM WisdomTree Emerging Markets High Dividend Fund 15.2 63 -18 15.0 +5.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 15.1 59 -14 11.1 +1.9
FLTW Franklin FTSE Taiwan ETF 15.0 19 26 6.2 -3.0
BKEM BNY Mellon Emerging Markets Equity ETF 14.6 11 34 8.3 -0.8
RNEM Emerging Markets Equity Select ETF 14.4 75 -30 11.7 +2.6
CHIQ Global X China Consumer ETF 14.1 65 -20 6.8 -2.3
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 14.0 50 -5 10.4 +1.3
ECOW Pacer Emerging Markets Cash Cows 100 ETF 13.9 74 -29 13.7 +4.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 13.7 86 -41 2.1 -7.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 13.5 16 29 7.0 -2.2
KWEB KraneShares CSI China Internet ETF 13.1 76 -31 2.0 -7.1
VIDI Vident International Equity Fund 12.8 59 -14 11.4 +2.3
EMXC iShares MSCI Emerging Markets ex China ETF 12.7 25 20 8.1 -1.0
PEK VanEck Vectors ChinaAMC CSI 300 ETF 12.6 60 -15 4.0 -5.2
TTTN UP Fintech China-U.S. Internet Titans ETF 12.4 59 -14 4.3 -4.9
VSGX Vanguard ESG International Stock ETF 12.0 17 28 7.1 -2.1
FDNI First Trust Dow Jones International Internet ETF 11.6 65 -20 2.1 -7.1
AIA iShares Asia 50 ETF 11.0 50 -5 7.8 -1.4
OGIG O'Shares Global Internet Giants ETF 10.7 48 -3 0.5 -8.6
ACWF iShares FactorSelect MSCI Global ETF 10.6 35 10 7.9 -1.3
FXI iShares China Large-Cap ETF 10.3 74 -29 13.1 +4.0
IQDE FlexShares International Quality Dividend Defensive Index Fd 10.1 47 -2 9.2 +0.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 10.1 40 5 7.1 -2.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 10.0 49 -4 7.7 -1.4
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 10.0 51 -6 16.4 +7.2
ACWX iShares MSCI ACWI ex U.S. ETF 10.0 32 13 7.3 -1.8
FCA First Trust China AlphaDEX Fund 9.5 80 -35 14.5 +5.4
IQDF FlexShares International Quality Dividend Index Fund 9.5 47 -2 9.2 +0.1
LVIN Hartford Multifactor Low Volatility International Equity ETF 9.3 29 16 11.6 +2.5
IXUS ishares Core MSCI Total International Stock ETF 8.9 9 36 7.4 -1.8
JOYY Infusive Compounding Global Equities ETF 8.8 50 -5 3.6 -5.5
FNI First Trust Chindia ETF 8.6 60 -15 2.5 -6.7
GBUY Goldman Sachs Motif New Age Consumer ETF 8.6 50 -5 1.7 -7.4
BICK First Trust BICK Index Fund 8.4 64 -19 4.7 -4.4
AIQ Global X Future Analytics Tech ETF 8.3 68 -23 4.0 -5.1
OBOR KraneShares MSCI One Belt One Road Index ETF 8.2 79 -34 9.0 -0.1
XCEM Columbia EM Core ex-China ETF 8.2 16 29 7.1 -2.0
PGJ Invesco Golden Dragon China ETF 8.2 70 -25 3.4 -5.8
INDA iShares MSCI India ETF 8.1 69 -24 5.4 -3.8
PIN Invesco India ETF 8.1 78 -33 6.0 -3.1
CHIC Global X Nasdaq China Technology ETF 8.0 66 -21 4.2 -5.0
VXUS Vanguard Total International Stock Index Fund 7.8 8 37 7.6 -1.6
FLIN Franklin FTSE India ETF 7.8 19 26 5.7 -3.4
WUGI Esoterica NextG Economy ETF 7.8 75 -30 1.5 -7.6
FLZA Franklin FTSE South Africa ETF 7.7 19 26 11.1 +1.9
EZA iShares MSCI South Africa ETF 7.7 59 -14 7.7 -1.4
EDIV SPDR S&P Emerging Markets Dividend ETF 7.7 49 -4 12.0 +2.9
EWY iShares MSCI South Korea ETF 7.6 59 -14 8.4 -0.8
FLKR Franklin FTSE South Korea ETF 7.6 9 36 8.8 -0.4
VEU Vanguard FTSE All-World ex-US Index Fund 7.5 8 37 7.6 -1.6

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 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 12.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 9.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 CATEGORY
AVERAGE
1.43
 
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.