iShares Emerging Markets Infrastructure ETF
ALTAR
Score™		 4.7% info Recommen-
dation		 UNDERWEIGHT
2024E    2025E
P/E
ratio		 8.9x P/Sales
ratio		 1.0x
P/BV
ratio		 1.1x Div.
yield		 4.7%


  • 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) $22
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 31
Wgt avg mkt cap (mns) $8,612
Large cap (>$10bn) 28.1%
Mid cap ($2-10bn) 62.1%
Small cap (<$2bn) 9.8%
Developed mkts 16.2%
Emerging mkts 83.8%

TOP TEN HOLDINGS
AIRPORTS OF THAILAND PC-NVDR 9.6 %
GRUPO AEROPORTUARIO PAC-ADR 7.7 %
GRUPO AEROPORTUARIO SUR-ADR 7.1 %
CENTRAIS ELEC BRAS-SP ADR CM 6.5 %
ULTRAPAR PARTICPAC-SPON ADR 5.6 %
CIA SANEAMENTO BASICO DE-ADR 4.6 %
QATAR GAS TRANSPORT(NAKILAT) 4.4 %
KOREA ELEC POWER CORP-SP ADR 3.6 %
CIA DE CONCESSOES RODOVIARIA 3.3 %
GRUPO AEROPORTUARIO CEN-ADR 3.3 %
Total 55.7 %

TOP COUNTRY EXPOSURE
BRAZIL 24.8 %
MEXICO 18.1 %
CHINA 16.0 %
HONG KONG 15.6 %
THAILAND 9.6 %
QATAR 4.4 %
SOUTH KOREA 3.6 %
RUSSIA 0.0 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.6% 3.4% -2.8% -1.7% 1.7%

Market Correlations
versus... Beta R-squared
S&P500 0.56 30%
MSCI EAFE 0.81 60%
MSCI Emg. Mkts. 0.82 66%

Technical Indicators
Recent close $21.87
30d moving avg. $20.59
Annualized volatility 17.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.1%
Bid/Ask (% of price) 0.71%
ADV underlying (mns) $275

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 150 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™: 4.7%


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 12.1 41 19 5.0 +0.3
GII SPDR S&P Global Infrastructure ETF 12.0 40 20 5.0 +0.3
LNGG Roundhill Alerian LNG ETF 6.9 65 -5 8.6 +3.9
FCA First Trust China AlphaDEX Fund 5.8 80 -20 18.0 +13.3
THD iShares MSCI Thailand ETF 5.2 58 2 5.8 +1.1
CGW Invesco S&P Global Water Index ETF 4.6 57 3 3.8 -0.9
QAT iShares MSCI Qatar ETF 4.1 59 1 9.4 +4.7
OBOR KraneShares MSCI One Belt One Road Index ETF 4.1 79 -19 10.4 +5.7
EDIV SPDR S&P Emerging Markets Dividend ETF 3.9 49 11 11.0 +6.3
BRAZ Global X Brazil Active ETF 3.6 75 -15 10.2 +5.5
GLIF AGF Global Infrastructure ETF 3.6 45 15 5.5 +0.8
NLR VanEck Uranium+Nuclear Energy ETF 3.1 61 -1 4.5 -0.1
SMOG VanEck Low Carbon Energy ETF 2.7 61 -1 3.0 -1.7
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.6 70 -10 11.4 +6.8
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 2.6 79 -19 5.1 +0.5
FAN First Trust Global Wind Energy ETF 2.5 60 0 5.5 +0.8
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 2.4 25 35 7.0 +2.4
FEM First Trust Emerging Markets AlphaDEX Fund 2.2 80 -20 16.4 +11.8
ECNS iShares MSCI China Small-Cap ETF 2.2 59 1 14.2 +9.6
SEA U.S. Global Sea to Sky Cargo ETF 2.2 60 0 24.1 +19.4
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 2.2 46 14 5.6 +0.9
KGRN KraneShares MSCI China Clean Technology Index ETF 2.1 79 -19 6.5 +1.9
WNDY Global X Wind Energy ETF 2.1 50 10 5.2 +0.5
FRNW Fidelity Clean Energy ETF 2.1 39 21 3.7 -1.0
RNRG Global X Renewable Energy Producers ETF 2.0 66 -6 4.9 +0.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 1.9 40 20 7.2 +2.5
ASEA Global X FTSE Southeast Asia ETF 1.9 65 -5 6.5 +1.8
ADIV SmartETFs Asia Pacific Dividend Builder ETF 1.9 78 -18 8.9 +4.3
KALL KraneShares MSCI All China Index ETF 1.8 49 11 9.4 +4.8
CNRG SPDR S&P Kensho Clean Power ETF 1.8 45 15 -7.4 -12.1
EMMF WisdomTree Emerging Markets Multifactor Fund 1.7 48 12 9.4 +4.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.7 29 31 8.3 +3.7
EMM Global X Emerging Markets ex-China ETF 1.7 75 -15 3.7 -1.0
MCHI iShares MSCI China ETF 1.7 59 1 9.0 +4.3
GXC SPDR S&P China ETF 1.6 59 1 9.1 +4.4
CVY Invesco Zacks Multi-Asset Income ETF 1.6 106 -46 8.8 +4.2
RNEM First Trust Emerging Markets Equity Select ETF 1.5 75 -15 8.3 +3.6
BOAT SonicShares Global Shipping ETF 1.5 69 -9 29.3 +24.7
FLCH Franklin FTSE China ETF 1.5 19 41 9.6 +4.9
AVEM Avantis Emerging Markets Equity ETF 1.5 33 27 9.1 +4.5
IQRA IQ CBRE Real Assets ETF 1.5 65 -5 5.9 +1.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.4 44 16 10.4 +5.7
AVES Avantis Emerging Markets Value ETF 1.4 36 24 12.2 +7.5
FIW First Trust Water ETF 1.2 53 7 4.5 -0.2
EYLD Cambria Emerging Shareholder Yield ETF 1.2 66 -6 12.2 +7.5
BLLD JPMorgan Sustainable Infrastructure ETF 1.2 49 11 6.2 +1.5
VRAI Virtus Real Asset Income ETF 1.1 55 5 8.5 +3.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.0 30 30 8.6 +3.9
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 1.0 80 -20 14.2 +9.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 15 12.8 +8.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.0 41 19 7.8 +3.1
DTEC ALPS Disruptive Technologies ETF 1.0 50 10 3.2 -1.4
EWZ iShares MSCI Brazil ETF 1.0 58 2 11.8 +7.1
AADR AdvisorShares Dorsey Wright ADR ETF 1.0 110 -50 5.4 +0.7
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.9 38 22 8.3 +3.6
SPEM SPDR Portfolio Emerging Markets ETF 0.9 7 53 7.5 +2.8
DFAE Dimensional Emerging Core Equity Market ETF 0.9 35 25 7.7 +3.1
XT iShares Exponential Technologies ETF 0.9 46 14 3.8 -0.8
CN Xtrackers MSCI All China Equity ETF 0.9 50 10 8.7 +4.0
BKF iShares MSCI BIC ETF 0.9 69 -9 7.1 +2.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.9 47 13 5.9 +1.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.9 95 -35 11.4 +6.7
GMF SPDR S&P Emerging Asia Pacific ETF 0.8 49 11 6.4 +1.7
EMC Global X Emerging Markets Great Consumer ETF 0.8 75 -15 4.9 +0.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.8 50 10 10.6 +5.9
DVYE iShares Emerging Markets Dividend ETF 0.8 49 11 16.6 +11.9
DWX SPDR S&P International Dividend ETF 0.7 45 15 7.1 +2.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.7 39 21 12.6 +7.9
LDEM iShares ESG MSCI EM Leaders ETF 0.7 17 43 7.8 +3.1
PHO Invesco Water Resources ETF 0.7 60 0 4.3 -0.4
SCHE Schwab Emerging Markets Equity ETF 0.7 11 49 7.6 +2.9
FLBR Franklin FTSE Brazil ETF 0.7 19 41 12.3 +7.6
EEMA iShares MSCI Emerging Markets Asia ETF 0.7 49 11 6.7 +2.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.7 30 30 7.5 +2.8
PXH Invesco FTSE RAFI Emerging Markets ETF 0.6 49 11 12.5 +7.8
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.6 18 42 7.9 +3.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.6 70 -10 6.3 +1.6
EEM iShares MSCI Emerging Markets ETF 0.6 69 -9 7.0 +2.3
VWO Vanguard FTSE Emerging Markets ETF 0.6 8 52 7.6 +2.9
FLAX Franklin FTSE Asia Ex Japan ETF 0.6 19 41 7.2 +2.5
JRNY ALPS Global Travel Beneficiaries ETF 0.6 65 -5 -0.0 -4.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.6 20 40 7.5 +2.8
ILF iShares Latin America 40 ETF 0.6 48 12 10.2 +5.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.6 66 -6 7.2 +2.5
IVRA Invesco Real Assets ESG ETF 0.5 59 1 7.1 +2.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.5 59 1 9.6 +4.9
IEMG iShares Core MSCI Emerging Markets ETF 0.5 9 51 7.5 +2.9
JETS U.S. Global Jets ETF 0.5 60 0 -15.6 -20.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.5 58 2 10.2 +5.5
SHPP Pacer Industrials and Logistics ETF 0.5 60 0 8.9 +4.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 24 7.5 +2.8
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 49 7.7 +3.0
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 40 6.7 +2.0
VIDI Vident International Equity Strategy ETF 0.5 61 -1 11.9 +7.2
DEHP Dimensional Emerging Markets High Profitability ETF 0.5 41 19 7.3 +2.6
SDG iShares MSCI Global Sustainable Development Goals ETF 0.5 49 11 5.8 +1.1
FXI iShares China Large-Cap ETF 0.5 74 -14 9.6 +5.0
FLLA Franklin FTSE Latin America ETF 0.4 19 41 11.6 +7.0
DFEV Dimensional Emerging Markets Value ETF 0.4 43 17 10.9 +6.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.4 45 15 8.6 +3.9
APIE ActivePassive International Equity ETF 0.4 45 15 7.7 +3.0
ESGE iShares ESG Aware MSCI EM ETF 0.4 25 35 7.7 +3.0
EMXF iShares ESG Advanced MSCI EM ETF 0.4 16 44 7.5 +2.8
KOMP SPDR S&P Kensho New Economies Composite ETF 0.4 20 40 2.1 -2.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 40 5.6 +0.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.3 32 28 7.6 +2.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.3 33 27 7.2 +2.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.3 15 45 7.1 +2.4
DEM WisdomTree Emerging Markets High Dividend Fund 0.3 63 -3 12.9 +8.3
JHEM John Hancock Multifactor Emerging Markets ETF 0.3 49 11 8.4 +3.7
NUEM Nuveen ESG Emerging Markets Equity ETF 0.3 36 24 6.8 +2.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.3 30 30 7.8 +3.1
VYMI Vanguard International High Dividend Yield ETF 0.3 22 38 9.7 +5.0
EMXC iShares MSCI Emerging Markets ex China ETF 0.3 25 35 6.7 +2.0
HAP VanEck Natural Resources ETF 0.2 50 10 9.5 +4.8
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 30 6.8 +2.1
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.2 70 -10 7.3 +2.6
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 26 6.7 +2.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.2 47 13 10.2 +5.6
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.2 45 15 6.3 +1.6
EMGF iShares Emerging Markets Equity Factor ETF 0.2 25 35 8.7 +4.0
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 52 7.2 +2.5
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 53 6.9 +2.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 19 6.6 +2.0
VXUS Vanguard Total International Stock ETF 0.1 7 53 7.1 +2.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 0.1 20 40 10.7 +6.1
XCEM Columbia EM Core ex-China ETF 0.1 16 44 7.4 +2.7
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 28 6.2 +1.5
ROAM Hartford Multifactor Emerging Markets ETF 0.1 44 16 11.8 +7.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 48 5.0 +0.4
IQDF FlexShares International Quality Dividend Index Fund 0.1 47 13 10.7 +6.0
GLOF iShares Global Equity Factor ETF 0.1 20 40 7.0 +2.4
FRDM Freedom 100 Emerging Markets ETF 0.1 49 11 7.3 +2.6
VSGX Vanguard ESG International Stock ETF 0.1 12 48 6.8 +2.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.1 32 28 6.3 +1.6
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.5 +0.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 36 7.2 +2.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -5 7.7 +3.1
GINN Goldman Sachs Innovate Equity ETF 0.1 52 8 2.7 -2.0
VT Vanguard Total World Stock ETF 0.0 7 53 5.8 +1.1
EXI iShares Global Industrials ETF 0.0 42 18 4.6 -0.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 51 5.7 +1.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 57 6.9 +2.2
IQSI IQ Candriam International Equity ETF 0.0 15 45 6.4 +1.7
BKIE BNY Mellon International Equity ETF 0.0 4 56 6.9 +2.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 40 6.6 +2.0
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 7 53 6.5 +1.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 21 7.6 +2.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.0 58 2 4.6 -0.1
FDEM Fidelity Emerging Markets Multifactor ETF 0.0 25 35 12.0 +7.3

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

  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:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 5.4 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.33 CATEGORY
AVERAGE		 1.39
 
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.