iShares Emerging Markets Infrastructure ETF
ALTAR
Score™		 8.5% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 9.8x P/Sales
ratio		 1.2x
P/BV
ratio		 1.2x Div.
yield		 4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares S&P Emerging Markets Infrastructure Index Fund seeks investment results that correspond to the price and yield performance of the the S&P Emerging Markets Infrastructure Index Fund.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Jun 16, 2009
Assets (mns) $9
Currency USD
Expense ratio 60 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 30
Wgt avg mkt cap (mns) $8,658
Large cap (>$10bn) 30.2%
Mid cap ($2-10bn) 59.0%
Small cap (<$2bn) 5.2%
Developed mkts 20.9%
Emerging mkts 73.6%

TOP TEN HOLDINGS
GRUPO AEROPORTUARIO PAC-ADR 9.3 %
AIRPORTS OF THAILAND PC-NVDR 8.9 %
CIA SANEAMENTO BASICO DE-ADR 7.0 %
ADNOC DRILLING COMPANY PJSC 5.8 %
GRUPO AEROPORTUARIO SUR-ADR 5.7 %
QATAR GAS TRANSPORT(NAKILAT) 5.2 %
CHINA RESOURCES POWER HOLDIN 5.1 %
CENTRAIS ELEC BRAS-SP ADR CM 5.1 %
ULTRAPAR PARTICPAC-SPON ADR 3.9 %
CGN POWER LTD H 3.6 %
Total 59.6 %

TOP COUNTRY EXPOSURE
BRAZIL 23.6 %
HONG KONG 19.9 %
MEXICO 17.8 %
CHINA 15.4 %
THAILAND 8.9 %
QATAR 5.2 %





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.
2.5% 15.6% -3.6% -2.1% 1.8%

Market Correlations
versus... Beta R-squared
S&P500 0.65 39%
MSCI EAFE 0.83 66%
MSCI Emg. Mkts. 0.88 72%

Technical Indicators
Recent close $21.85
30d moving avg. $22.63
Annualized volatility 18.1%
Short interest (ETF) 0.1%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.71%
ADV underlying (mns) $354

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 155 potential alternatives to the iShares Emerging Markets Infrastructure ETF ETF based on the alternatives' overlap in portfolio holdings with EMIF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EMIF Expense: 60 bp ALTAR Score™: 8.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EMIF
Ticker Fund
Name		 Overlap1
vs EMIF
(%)		 Expense
ratio
(bp)		 Savings
vs EMIF
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EMIF
(%)
IGF iShares Global Infrastructure ETF 11.2 41 19 4.3 -4.2
GII SPDR S&P Global Infrastructure ETF 11.2 40 20 4.3 -4.2
FCA First Trust China AlphaDEX Fund 8.5 80 -20 16.2 +7.7
LNGG Roundhill Alerian LNG ETF 7.3 65 -5 9.1 +0.6
BRAZ Global X Brazil Active ETF 4.9 75 -15 10.1 +1.6
OBOR KraneShares MSCI One Belt One Road Index ETF 4.9 79 -19 10.3 +1.8
THD iShares MSCI Thailand ETF 4.6 58 2 6.1 -2.4
QAT iShares MSCI Qatar ETF 4.3 59 1 9.4 +0.9
SMOG VanEck Low Carbon Energy ETF 3.8 61 -1 2.4 -6.2
FEM First Trust Emerging Markets AlphaDEX Fund 3.4 80 -20 13.0 +4.5
EMMF WisdomTree Emerging Markets Multifactor Fund 3.3 48 12 8.8 +0.3
UAE iShares MSCI UAE ETF 3.2 59 1 8.4 -0.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 3.0 46 14 4.9 -3.6
ADIV SmartETFs Asia Pacific Dividend Builder ETF 3.0 78 -18 9.0 +0.5
FAN First Trust Global Wind Energy ETF 2.9 60 0 5.5 -3.0
EDIV SPDR S&P Emerging Markets Dividend ETF 2.9 49 11 12.0 +3.5
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 2.9 79 -19 5.1 -3.4
KALL KraneShares MSCI All China Index ETF 2.6 49 11 9.0 +0.5
KGRN KraneShares MSCI China Clean Technology Index ETF 2.6 79 -19 5.6 -2.9
WNDY Global X Wind Energy ETF 2.6 50 10 6.1 -2.4
RNRG Global X Renewable Energy Producers ETF 2.4 66 -6 5.5 -3.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.3 29 31 8.7 +0.2
MOTI VanEck Morningstar International Moat ETF 2.3 58 2 5.9 -2.6
AVES Avantis Emerging Markets Value ETF 2.2 36 24 11.6 +3.1
CNRG SPDR S&P Kensho Clean Power ETF 2.2 45 15 2.8 -5.7
FRNW Fidelity Clean Energy ETF 2.2 39 21 2.6 -6.0
ECNS iShares MSCI China Small-Cap ETF 2.2 59 1 14.2 +5.7
IVRA Invesco Real Assets ESG ETF 2.0 59 1 5.4 -3.1
IQRA IQ CBRE Real Assets ETF 2.0 65 -5 5.2 -3.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 1.8 40 20 8.3 -0.2
RNEM First Trust Emerging Markets Equity Select ETF 1.8 75 -15 7.6 -1.0
FLCH Franklin FTSE China ETF 1.8 19 41 8.8 +0.3
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.7 70 -10 9.2 +0.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.6 25 35 6.6 -1.9
AVEM Avantis Emerging Markets Equity ETF 1.6 33 27 8.9 +0.4
EMM Global X Emerging Markets ex-China ETF 1.6 75 -15 4.2 -4.3
ASEA Global X FTSE Southeast Asia ETF 1.5 65 -5 6.3 -2.2
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.5 67 -7 15.0 +6.5
MCHI iShares MSCI China ETF 1.5 59 1 8.4 -0.1
GXC SPDR S&P China ETF 1.5 59 1 8.3 -0.2
BLLD JPMorgan Sustainable Infrastructure ETF 1.4 49 11 5.7 -2.8
XT iShares Exponential Technologies ETF 1.4 46 14 4.8 -3.7
EEMD AAM S&P Emerging Markets High Dividend Value ETF 1.4 49 11 16.1 +7.6
FIW First Trust Water ETF 1.3 53 7 4.5 -4.0
DTEC ALPS Disruptive Technologies ETF 1.2 50 10 3.7 -4.8
EMC Global X Emerging Markets Great Consumer ETF 1.2 75 -15 4.5 -4.0
PHO Invesco Water Resources ETF 1.2 60 0 4.4 -4.1
FPXI First Trust International Equity Opportunities ETF 1.1 70 -10 4.9 -3.6
BOAT SonicShares Global Shipping ETF 1.1 69 -9 34.8 +26.3
VRAI Virtus Real Asset Income ETF 1.1 55 5 8.0 -0.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.1 44 16 10.6 +2.1
GINX SGI Enhanced Global Income ETF 1.0 98 -38 5.6 -2.9
CVY Invesco Zacks Multi-Asset Income ETF 1.0 106 -46 9.8 +1.3
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 1.0 80 -20 12.3 +3.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.0 41 19 7.4 -1.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.9 38 22 7.8 -0.7
SPEM SPDR Portfolio Emerging Markets ETF 0.9 7 53 7.3 -1.2
ROAM Hartford Multifactor Emerging Markets ETF 0.9 44 16 15.8 +7.3
DVYE iShares Emerging Markets Dividend ETF 0.9 49 11 18.8 +10.3
DFAE Dimensional Emerging Core Equity Market ETF 0.9 35 25 7.3 -1.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.8 95 -35 10.5 +2.0
GMF SPDR S&P Emerging Asia Pacific ETF 0.8 49 11 6.1 -2.4
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.8 18 42 6.8 -1.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.8 47 13 5.5 -3.1
CCNR ALPS CoreCommodity Natural Resources ETF 0.8 39 21 11.0 +2.5
ECON Columbia Emerging Markets Consumer ETF 0.8 49 11 7.3 -1.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.8 58 2 10.2 +1.7
PXH Invesco FTSE RAFI Emerging Markets ETF 0.7 49 11 12.2 +3.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.7 50 10 13.0 +4.5
BKF iShares MSCI BIC ETF 0.7 69 -9 6.9 -1.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.7 30 30 8.1 -0.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.7 39 21 12.5 +4.0
LDEM iShares ESG MSCI EM Leaders ETF 0.7 17 43 7.6 -0.9
EYLD Cambria Emerging Shareholder Yield ETF 0.7 66 -6 13.2 +4.7
SCHE Schwab Emerging Markets Equity ETF 0.7 11 49 7.1 -1.4
IQDE FlexShares International Quality Dividend Defensive Index ET 0.7 47 13 14.8 +6.3
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.7 45 15 12.3 +3.8
EWZ iShares MSCI Brazil ETF 0.7 58 2 10.4 +1.9
JCHI JPMorgan Active China ETF 0.7 65 -5 8.0 -0.5
FLBR Franklin FTSE Brazil ETF 0.6 19 41 13.2 +4.7
FLAX Franklin FTSE Asia Ex Japan ETF 0.6 19 41 6.9 -1.7
EEMA iShares MSCI Emerging Markets Asia ETF 0.6 49 11 6.5 -2.0
EEM iShares MSCI Emerging Markets ETF 0.6 69 -9 6.9 -1.6
EQLT iShares MSCI Emerging Markets Quality Factor ETF 0.6 35 25 7.4 -1.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.6 66 -6 10.0 +1.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.6 20 40 6.8 -1.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.6 36 24 7.8 -0.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.6 70 -10 6.2 -2.4
BKEM BNY Mellon Emerging Markets Equity ETF 0.6 11 49 8.4 -0.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.6 59 1 11.3 +2.8
IEMG iShares Core MSCI Emerging Markets ETF 0.5 9 51 7.5 -1.1
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.5 35 25 12.4 +3.9
SHPP Pacer Industrials and Logistics ETF 0.5 60 0 9.9 +1.4
VWO Vanguard FTSE Emerging Markets ETF 0.5 8 52 6.9 -1.6
DFEV Dimensional Emerging Markets Value ETF 0.5 43 17 11.1 +2.6
IQDF FlexShares International Quality Dividend Index Fund 0.5 47 13 12.9 +4.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.5 30 30 7.3 -1.2
RODE Hartford Multifactor Diversified International ETF 0.5 29 31 11.8 +3.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.5 15 45 7.2 -1.3
ILF iShares Latin America 40 ETF 0.5 48 12 10.4 +1.9
VIDI Vident International Equity Strategy ETF 0.5 61 -1 10.2 +1.7
DEHP Dimensional Emerging Markets High Profitability ETF 0.5 41 19 5.0 -3.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 27 8.2 -0.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.4 47 13 9.4 +0.9
ESGE iShares ESG Aware MSCI EM ETF 0.4 25 35 7.1 -1.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 40 6.3 -2.2
JHEM John Hancock Multifactor Emerging Markets ETF 0.4 49 11 8.2 -0.3
FLLA Franklin FTSE Latin America ETF 0.4 19 41 13.2 +4.7
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 11 5.6 -2.9
APIE ActivePassive International Equity ETF 0.4 45 15 8.1 -0.4
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 -3 18.9 +10.4
NUEM Nuveen ESG Emerging Markets Equity ETF 0.4 36 24 6.5 -2.0
JETS U.S. Global Jets ETF 0.4 60 0 -13.3 -21.8
HAP VanEck Natural Resources ETF 0.4 50 10 10.0 +1.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.3 30 30 8.0 -0.5
VYMI Vanguard International High Dividend Yield ETF 0.3 22 38 9.8 +1.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.3 45 15 11.0 +2.5
EMXC iShares MSCI Emerging Markets ex China ETF 0.3 25 35 6.7 -1.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 40 5.2 -3.4
EMXF iShares ESG Advanced MSCI EM ETF 0.3 16 44 6.8 -1.7
KOMP SPDR S&P Kensho New Economies Composite ETF 0.3 20 40 1.0 -7.5
XCNY SPDR S&P Emerging Markets ex-China ETF 0.2 15 45 6.3 -2.2
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 30 6.9 -1.6
XCEM Columbia EM Core ex-China ETF 0.2 16 44 7.7 -0.8
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.2 45 15 5.7 -2.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.2 70 -10 7.7 -0.8
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 26 7.0 -1.6
EMGF iShares Emerging Markets Equity Factor ETF 0.2 25 35 8.5 -0.0
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.2 15 45 10.2 +1.7
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 53 7.2 -1.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 42 7.0 -1.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 52 7.3 -1.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 19 7.4 -1.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.2 32 28 6.9 -1.7
VXUS Vanguard Total International Stock ETF 0.1 7 53 7.2 -1.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 48 4.8 -3.7
GINN Goldman Sachs Innovate Equity ETF 0.1 52 8 2.8 -5.8
GLOF iShares Global Equity Factor ETF 0.1 20 40 7.0 -1.5
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.3 -3.2
FRDM Freedom 100 Emerging Markets ETF 0.1 49 11 7.3 -1.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 36 9.2 +0.7
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 28 6.0 -2.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -5 8.2 -0.4
VSGX Vanguard ESG International Stock ETF 0.1 12 48 6.8 -1.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.1 32 28 6.2 -2.3
VT Vanguard Total World Stock ETF 0.0 7 53 5.5 -3.0
EXI iShares Global Industrials ETF 0.0 42 18 4.5 -4.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 51 5.4 -3.2
IQSI IQ Candriam International Equity ETF 0.0 15 45 6.6 -1.9
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 35 9.9 +1.4
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -29 4.9 -3.6
BKIE BNY Mellon International Equity ETF 0.0 4 56 7.1 -1.4
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 40 7.0 -1.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 21 7.5 -1.0
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.0 58 2 4.6 -3.9

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 iShares Emerging Markets Infrastructure 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 10.2 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.39 CATEGORY
AVERAGE		 1.48
 
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.