iShares Emerging Markets Infrastructure ETF
ALTAR
Score™
7.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
12.9x P/Sales
ratio
1.2x
P/BV
ratio
0.9x Div.
yield
3.8%


  • 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) $15
Currency USD
Expense ratio 75 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) $9,812
Large cap (>$10bn) 45.6%
Mid cap ($2-10bn) 42.9%
Small cap (<$2bn) 11.5%
Developed mkts 26.6%
Emerging mkts 73.4%

TOP TEN HOLDINGS
AIRPORTS OF THAILAND PC-NVDR 10.4 %
AK TRANSNEFT OAO-PREF 6.8 %
CHINA GAS HOLDINGS LTD 6.4 %
TENAGA NASIONAL BHD 6.3 %
ULTRAPAR PARTICPAC-SPON ADR 5.8 %
CIA DE CONCESSOES RODOVIARIA 5.0 %
GUANGDONG INVESTMENT LTD 5.0 %
ENERSIS S.A. -SPONS ADR 4.7 %
CHINA RESOURCES GAS GROUP LT 4.0 %
GRUPO AEROPORTUARIO PAC-ADR 4.0 %
Total 58.4 %

TOP COUNTRY EXPOSURE
HONG KONG 25.8 %
BRAZIL 16.8 %
CHINA 13.0 %
THAILAND 10.4 %
MEXICO 9.8 %
MALAYSIA 6.8 %
RUSSIA 6.8 %
CHILE 4.7 %
SOUTH KOREA 3.9 %
MONACO 0.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-29.7% -17.7% -6.6% 0.3% 1.5%

Market Correlations
versus... Beta R-squared
S&P500 0.92 53%
MSCI EAFE 1.16 73%
MSCI Emg. Mkts. 0.98 81%

Technical Indicators
Recent close $23.35
30d moving avg. $21.21
Annualized volatility 21.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.5%
Bid/Ask (% of price) 0.76%
ADV underlying (mns) $390

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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: 75 bp ALTAR Score™: 7.9%


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
(%)
CHIU Global X MSCI China Utilities ETF 21.5 65 10 9.2 +1.3
GII SPDR S&P Global Infrastructure ETF 8.1 40 35 5.3 -2.6
IGF iShares Global Infrastructure ETF 8.1 46 29 5.2 -2.7
CHII Global X China Industrials ETF 7.6 66 9 12.3 +4.4
EWM iShares MSCI Malaysia ETF 6.3 49 26 6.0 -1.9
ASEA Global X Southeast Asia ETF 6.1 65 10 10.3 +2.4
NLR VanEck Vectors Uranium+Nuclear Energy ETF 6.0 60 15 8.6 +0.7
OBOR KraneShares MSCI One Belt One Road Index ETF 5.8 79 -4 9.6 +1.8
THD iShares MSCI Thailand ETF 5.5 59 16 9.9 +2.0
CGW Invesco S&P Global Water Index ETF 5.3 62 13 4.3 -3.6
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 5.1 25 50 8.5 +0.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 5.0 60 15 8.6 +0.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 4.8 45 30 9.8 +2.0
EDIV SPDR S&P Emerging Markets Dividend ETF 4.8 49 26 11.6 +3.8
TBLU Tortoise Water Fund 4.8 40 35 5.1 -2.8
FRDM Freedom 100 Emerging Markets ETF 4.7 49 26 7.5 -0.4
FCA First Trust China AlphaDEX Fund 4.6 80 -5 15.1 +7.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.6 40 35 7.9 +0.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 4.0 29 46 9.9 +2.1
ILF iShares Latin America 40 ETF 3.9 48 27 7.5 -0.4
CHIE Global X China Energy ETF 3.9 66 9 11.0 +3.1
GLIF AGFiQ Global Infrastructure ETF 3.8 45 30 5.1 -2.8
EDOG ALPS Emerging Sector Dividend Dogs ETF 3.2 60 15 10.6 +2.7
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 3.0 46 29 5.3 -2.6
PID Invesco International Dividend Achievers ETF 3.0 54 21 10.5 +2.6
RSX VanEck Vectors Russia ETF 2.9 65 10 13.2 +5.3
EMFM Global X MSCI Next Emerging & Frontier ETF 2.8 55 20 8.8 +0.9
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.7 70 5 13.1 +5.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.4 32 43 9.6 +1.7
EMMF WisdomTree Emerging Markets Multifactor Fund 2.4 48 27 9.9 +2.0
FEM First Trust Emerging Markets AlphaDEX Fund 2.4 80 -5 11.7 +3.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.4 30 45 9.5 +1.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.4 45 30 9.0 +1.1
FXI iShares China Large-Cap ETF 2.2 74 1 13.6 +5.7
INFR Legg Mason Global Infrastructure ETF 2.2 40 35 6.0 -1.9
VRAI Virtus Real Asset Income ETF 2.1 55 20 11.0 +3.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 2.0 50 25 21.1 +13.2
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 2.0 64 11 5.3 -2.6
KGRN KraneShares MSCI China Environment Index ETF 2.0 80 -5 8.2 +0.3
PIO Invesco Global Water ETF 2.0 75 0 4.1 -3.8
FLRU Franklin FTSE Russia ETF 2.0 19 56 18.9 +11.0
PHO Invesco Water Resources ETF 1.9 60 15 3.8 -4.1
PIE Invesco DWA Emerging Markets Momentum ETF 1.9 90 -15 5.7 -2.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.9 47 28 6.4 -1.5
EYLD Cambria Emerging Shareholder Yield ETF 1.8 66 9 16.8 +8.9
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 1.8 50 25 9.9 +2.1
MCHI iShares MSCI China ETF 1.8 59 16 9.1 +1.2
XKCP SPDR Kensho Clean Power ETF 1.8 45 30 -10.8 -18.6
FLCH Franklin FTSE China ETF 1.8 19 56 9.3 +1.4
DWCR Arrow DWA Country Rotation ETF 1.7 95 -20 17.8 +9.9
ICLN iShares Global Clean Energy ETF 1.7 46 29 3.4 -4.5
OSCV Opus Small Cap Value Plus ETF 1.7 79 -4 5.8 -2.1
AVEM Avantis Emerging Markets Equity ETF 1.7 33 42 9.6 +1.7
GXC SPDR S&P China ETF 1.7 59 16 9.0 +1.1
KALL KraneShares FTSE Emerging Markets Plus ETF 1.6 49 26 9.1 +1.3
FIW First Trust Water ETF 1.5 55 20 3.8 -4.1
RNEM Emerging Markets Equity Select ETF 1.5 75 0 10.6 +2.7
ISEM Invesco Strategic Emerging Markets ETF 1.4 35 40 10.4 +2.5
ZHOK SPDR Solactive Hong Kong ETF 1.4 14 61 7.7 -0.2
EEMA iShares MSCI Emerging Markets Asia ETF 1.4 50 25 8.5 +0.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.4 30 45 8.9 +1.0
SPEM SPDR Portfolio Emerging Markets ETF 1.4 11 64 8.7 +0.8
BKF iShares MSCI BRIC ETF 1.4 69 6 8.5 +0.6
EWZ iShares MSCI Brazil Capped ETF 1.4 59 16 5.0 -2.9
JHEM John Hancock Multifactor Emerging Markets ETF 1.3 55 20 8.9 +1.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 1.3 45 30 10.0 +2.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.3 20 55 7.7 -0.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 1.3 14 61 9.6 +1.7
CN Xtrackers MSCI All China Equity ETF 1.2 50 25 9.4 +1.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.2 49 26 9.1 +1.2
SCHE Schwab Emerging Markets Equity ETF 1.2 13 62 8.7 +0.8
DVYE iShares Emerging Markets Dividend ETF 1.2 49 26 13.1 +5.2
AXJL WisdomTree Asia Pacific ex-Japan Fund 1.2 48 27 10.0 +2.1
GMF SPDR S&P Emerging Asia Pacific ETF 1.2 49 26 8.0 +0.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.1 95 -20 10.2 +2.3
EMCG WisdomTree Emerging Markets Consumer Growth Fund 1.1 32 43 7.9 +0.0
MOTI VanEck Vectors Morningstar International Moat ETF 1.1 57 18 8.5 +0.6
FLAX Franklin FTSE Asia Ex Japan ETF 1.1 19 56 8.6 +0.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.1 68 7 8.0 +0.1
JETS US Global Jets ETF 1.1 60 15 5.2 -2.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.1 65 10 8.4 +0.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 16 11.2 +3.3
VWO Vanguard FTSE Emerging Markets ETF 1.1 10 65 8.9 +1.0
EEM iShares MSCI Emerging Markets ETF 1.1 68 7 8.3 +0.5
XCEM Columbia EM Core ex-China ETF 1.1 16 59 7.9 +0.0
FLBR Franklin FTSE Brazil ETF 1.0 19 56 5.6 -2.3
ROAM Hartford Multifactor Emerging Markets ETF 1.0 44 31 15.1 +7.2
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 0.9 18 57 6.2 -1.7
IEMG iShares Core MSCI Emerging Markets ETF 0.9 14 61 8.8 +0.9
WCHN WisdomTree ICBCCS S&P China 500 Fund 0.9 55 20 9.2 +1.3
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 0.9 80 -5 19.6 +11.7
PXH Invesco FTSE RAFI Emerging Markets ETF 0.7 50 25 13.8 +5.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.7 39 36 13.2 +5.3
VIGI Vanguard International Dividend Appreciation ETF 0.7 25 50 6.0 -1.9
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.7 63 12 13.3 +5.4
FLLA Franklin FTSE Latin America ETF 0.7 19 56 7.2 -0.7
SDG iShares Sustainable MSCI Global Impact ETF 0.7 49 26 6.2 -1.7
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 0.6 51 24 13.6 +5.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.6 58 17 6.4 -1.5
EMXC iShares MSCI Emerging Markets ex China ETF 0.6 49 26 8.5 +0.6

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%.

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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 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 7.4 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 7.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.