iShares Emerging Markets Infrastructure ETF
ALTAR
Score™		 4.5% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 10.2x P/Sales
ratio		 0.9x
P/BV
ratio		 0.9x Div.
yield		 5.3%


  • 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) $8
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) $8,292
Large cap (>$10bn) 28.3%
Mid cap ($2-10bn) 64.2%
Small cap (<$2bn) 1.6%
Developed mkts 21.4%
Emerging mkts 72.4%

TOP TEN HOLDINGS
GRUPO AEROPORTUARIO PAC-ADR 8.9 %
CIA SANEAMENTO BASICO DE-ADR 8.0 %
CENTRAIS ELEC BRAS-SP ADR CM 7.1 %
AIRPORTS OF THAILAND PC-NVDR 6.1 %
KOREA ELEC POWER CORP-SP ADR 5.9 %
ADNOC DRILLING COMPANY PJSC 5.8 %
GRUPO AEROPORTUARIO SUR-ADR 5.8 %
QATAR GAS TRANSPORT(NAKILAT) 5.4 %
GRUPO AEROPORTUARIO CEN-ADR 3.9 %
CHINA RESOURCES POWER HOLDIN 3.7 %
Total 60.4 %

TOP COUNTRY EXPOSURE
BRAZIL 19.6 %
MEXICO 18.5 %
HONG KONG 16.4 %
CHINA 16.2 %
THAILAND 6.1 %
SOUTH KOREA 5.9 %
ABU DHABI 5.8 %
QATAR 5.4 %



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.
24.9% 18.4% 8.1% 1.4% 2.9%

Market Correlations
versus... Beta R-squared
S&P500 0.68 37%
MSCI EAFE 0.63 42%
MSCI Emg. Mkts. 0.64 51%

Technical Indicators
Recent close $27.40
30d moving avg. $26.24
Annualized volatility 14.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.7%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $348

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 162 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™: 4.5%


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 11.6 41 19 4.5 +0.1
GII SPDR S&P Global Infrastructure ETF 11.6 40 20 4.6 +0.1
BRAZ Global X Brazil Active ETF 6.8 75 -15 11.4 +6.9
FCA First Trust China AlphaDEX Fund 5.8 80 -20 9.0 +4.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 5.4 80 -20 9.5 +5.0
ABLD Abacus FCF Real Assets Leaders ETF 4.8 69 -9 6.7 +2.2
SMOG VanEck Low Carbon Energy ETF 4.6 61 -1 1.6 -2.9
QAT iShares MSCI Qatar ETF 4.4 59 1 51.1 +46.7
TBLU Tortoise Global Water ESG ETF 4.2 40 20 4.6 +0.1
CNRG State Street SPDR S&P Kensho Clean Power ETF 4.1 45 15 1.6 -2.9
THD iShares MSCI Thailand ETF 3.9 58 2 0.0 -4.5
SDEM Global X MSCI SuperDividend Emerging Markets ETF 3.9 67 -7 14.6 +10.1
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 3.3 79 -19 4.9 +0.5
OBOR KraneShares MSCI One Belt One Road Index ETF 3.3 79 -19 7.9 +3.4
FAN First Trust Global Wind Energy ETF 3.1 60 0 4.1 -0.4
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 3.0 46 14 5.6 +1.1
UAE iShares MSCI UAE ETF 2.5 59 1 0.0 -4.5
ECNS iShares MSCI China Small-Cap ETF 2.4 59 1 9.2 +4.7
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.4 60 0 10.7 +6.2
EMMF WisdomTree Emerging Markets Multifactor Fund 2.3 48 12 7.0 +2.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.1 45 15 10.1 +5.6
FRNW Fidelity Clean Energy ETF 2.0 39 21 2.3 -2.2
KGRN KraneShares MSCI China Clean Technology Index ETF 2.0 79 -19 0.4 -4.1
RNRG Global X Renewable Energy Producers ETF 2.0 66 -6 5.1 +0.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.0 70 -10 11.8 +7.3
IDOG ALPS International Sector Dividend Dogs ETF 1.9 50 10 11.4 +6.9
BOAT SonicShares Global Shipping ETF 1.8 69 -9 26.0 +21.5
EBLU Ecofin Global Water ESG Fund 1.8 40 20 4.4 -0.1
VCLN Virtus Duff & Phelps Clean Energy ETF 1.8 59 1 3.9 -0.6
KALL KraneShares MSCI All China Index ETF 1.8 49 11 12.7 +8.2
FID First Trust S&P International Dividend Aristocrats ETF 1.7 60 0 7.5 +3.0
AVEM Avantis Emerging Markets Equity ETF 1.6 33 27 8.2 +3.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 1.6 40 20 6.6 +2.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.5 80 -20 8.5 +4.0
IQRA IQ CBRE Real Assets ETF 1.5 65 -5 5.6 +1.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.5 25 35 6.4 +1.9
FIW First Trust Water ETF 1.5 53 7 4.9 +0.5
EMM Global X Emerging Markets ex-China ETF 1.5 75 -15 7.1 +2.6
FEM First Trust Emerging Markets AlphaDEX Fund 1.4 80 -20 11.4 +6.9
DVYE iShares Emerging Markets Dividend ETF 1.4 49 11 17.7 +13.2
AQWA Global X Clean Water ETF 1.4 50 10 5.1 +0.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.4 29 31 8.9 +4.4
ICLN iShares Global Clean Energy ETF 1.4 41 19 3.2 -1.3
AVES Avantis Emerging Markets Value ETF 1.3 36 24 10.7 +6.2
WDIV SPDR S&P Global Dividend ETF 1.3 40 20 8.8 +4.3
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.3 42 18 9.6 +5.1
IQDF FlexShares International Quality Dividend Index Fund 1.3 47 13 8.4 +3.9
CCNR ALPS CoreCommodity Natural Resources ETF 1.2 39 21 9.1 +4.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.2 44 16 10.4 +5.9
GXC SPDR S & P China ETF 1.2 59 1 15.8 +11.3
VRAI Virtus Real Asset Income ETF 1.2 55 5 10.7 +6.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 1.1 33 27 8.0 +3.5
FLCH Franklin FTSE China ETF 1.1 19 41 15.4 +10.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.1 30 30 9.0 +4.5
EMC Global X Emerging Markets Great Consumer ETF 1.1 75 -15 7.4 +2.9
MEM Matthews Emerging Markets Equity Active ETF 1.0 79 -19 7.3 +2.8
ROAM Hartford Multifactor Emerging Markets ETF 1.0 44 16 11.1 +6.6
AVSE Avantis Responsible Emerging Markets Equity ETF 1.0 33 27 7.9 +3.4
MCHI iShares MSCI China ETF 1.0 59 1 16.7 +12.2
EDIV SPDR S&P Emerging Markets Dividend ETF 1.0 49 11 9.3 +4.8
POW VistaShares Electrification Supercycle ETF 1.0 75 -15 3.5 -1.0
ASEA Global X FTSE Southeast Asia ETF 1.0 65 -5 6.2 +1.7
JETS U.S. Global Jets ETF 0.9 60 0 3.2 -1.3
DTEC ALPS Disruptive Technologies ETF 0.9 50 10 3.8 -0.7
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.9 35 25 16.2 +11.7
PHO Invesco Water Resources ETF 0.9 60 0 4.8 +0.3
SPEM SPDR Portfolio Emerging Markets ETF 0.9 7 53 10.3 +5.8
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.9 20 40 2.9 -1.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.9 95 -35 10.9 +6.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.8 38 22 8.6 +4.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 13 7.8 +3.3
APIE ActivePassive International Equity ETF 0.8 45 15 7.1 +2.6
FTRI First Trust Indxx Global Natural Resources Income ETF 0.8 70 -10 7.7 +3.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.8 58 2 9.4 +5.0
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.8 41 19 8.2 +3.7
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.8 88 -28 7.8 +3.3
DEM WisdomTree Emerging Markets High Dividend Fund 0.8 63 -3 12.7 +8.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.8 45 15 9.5 +5.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.8 50 10 10.2 +5.7
BLLD JPMorgan Sustainable Infrastructure ETF 0.7 49 11 5.9 +1.5
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.7 47 13 5.6 +1.2
DFAE Dimensional Emerging Core Equity Market ETF 0.7 35 25 8.6 +4.1
SHPP Pacer Industrials and Logistics ETF 0.7 60 0 8.1 +3.7
GMF SPDR S&P Emerging Asia Pacific ETF 0.7 49 11 9.4 +4.9
DEHP Dimensional Emerging Markets High Profitability ETF 0.6 41 19 6.4 +1.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.6 59 1 8.6 +4.1
HAP VanEck Natural Resources ETF 0.6 50 10 8.8 +4.3
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.6 53 7 7.2 +2.7
BKF iShares MSCI BIC ETF 0.6 69 -9 12.9 +8.4
CVY Invesco Zacks Multi-Asset Income ETF 0.5 106 -46 11.8 +7.3
DFEV Dimensional Emerging Markets Value ETF 0.5 43 17 11.9 +7.4
SCHE Schwab Emerging Markets Equity ETF 0.5 11 49 10.5 +6.0
FLAX Franklin FTSE Asia Ex Japan ETF 0.5 19 41 8.4 +3.9
RODE Hartford Multifactor Diversified International ETF 0.5 29 31 10.4 +5.9
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 49 9.2 +4.7
ERTH Invesco MSCI Sustainable Future ETF 0.5 62 -2 3.4 -1.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.5 66 -6 8.9 +4.4
TRFM AAM Transformers ETF 0.5 49 11 1.3 -3.2
MCH Matthews China Active ETF 0.5 79 -19 14.0 +9.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 24 9.0 +4.5
XT iShares Exponential Technologies ETF 0.5 46 14 4.6 +0.1
VWO Vanguard FTSE Emerging Markets ETF 0.4 7 53 10.1 +5.6
LDEM iShares ESG MSCI EM Leaders ETF 0.4 17 43 13.8 +9.3
VIDI Vident International Equity Strategy ETF 0.4 61 -1 10.4 +5.9
EEMA iShares MSCI Emerging Markets Asia ETF 0.4 49 11 9.0 +4.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 21 15.4 +10.9
EEM iShares MSCI Emerging Markets ETF 0.4 69 -9 9.4 +4.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 45 9.6 +5.1
PXH Invesco FTSE RAFI Emerging Markets ETF 0.4 49 11 14.8 +10.3
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 11 4.9 +0.5
EEMO Invesco S&P Emerging Markets Momentum ETF 0.4 29 31 7.5 +3.0
JHEM John Hancock Multifactor Emerging Markets ETF 0.4 49 11 9.4 +4.9
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 51 9.7 +5.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.4 70 -10 8.4 +3.9
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 40 5.9 +1.4
JIVE JPMorgan International Value ETF 0.4 55 5 10.7 +6.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.3 30 30 9.8 +5.3
TTAI FCF International Quality ETF 0.3 59 1 7.3 +2.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 40 5.5 +1.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.3 30 30 7.5 +3.0
VYMI Vanguard International High Dividend Yield ETF 0.3 17 43 9.0 +4.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.3 33 27 9.2 +4.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.3 70 -10 7.5 +3.0
XCEM Columbia EM Core ex-China ETF 0.3 16 44 7.6 +3.1
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.2 46 14 9.5 +5.0
EMXC iShares MSCI Emerging Markets ex China ETF 0.2 25 35 6.9 +2.4
FDEM Fidelity Emerging Markets Multifactor ETF 0.2 25 35 12.0 +7.5
EMXF iShares ESG Advanced MSCI EM ETF 0.2 16 44 7.9 +3.4
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 30 7.5 +3.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.2 32 28 6.3 +1.8
GINN Goldman Sachs Innovate Equity ETF 0.2 52 8 3.7 -0.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.2 80 -20 10.8 +6.3
XCNY SPDR S&P Emerging Markets ex-China ETF 0.2 15 45 7.2 +2.7
NUEM Nuveen ESG Emerging Markets Equity ETF 0.2 36 24 7.2 +2.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 19 7.1 +2.6
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 56 7.7 +3.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 45 7.4 +3.0
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 53 7.5 +3.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 42 7.2 +2.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 26 7.3 +2.8
VXUS Vanguard Total International Stock ETF 0.1 5 55 7.6 +3.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.1 65 -5 7.9 +3.4
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 -15 8.3 +3.8
GLOF iShares Global Equity Factor ETF 0.1 20 40 6.6 +2.2
EMGF iShares Emerging Markets Equity Factor ETF 0.1 25 35 10.7 +6.2
FRDM Freedom 100 Emerging Markets ETF 0.1 49 11 7.2 +2.7
ACWI iShares MSCI ACWI ETF 0.1 32 28 5.4 +0.9
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -29 5.0 +0.6
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 57 6.6 +2.1
VT Vanguard Total World Stock ETF 0.0 6 54 5.7 +1.2
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 35 8.9 +4.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 48 5.1 +0.6
DEW WisdomTree Global High Dividend Fund 0.0 58 2 8.2 +3.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 51 5.6 +1.1
VSGX Vanguard ESG International Stock ETF 0.0 10 50 7.5 +3.0
IQSI IQ Candriam International Equity ETF 0.0 15 45 6.2 +1.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 15 8.3 +3.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 8 52 7.2 +2.7
BKIE BNY Mellon International Equity ETF 0.0 4 56 6.6 +2.1
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 40 6.5 +2.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 21 6.3 +1.8
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.0 58 2 4.4 -0.1

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 4.5 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.51 CATEGORY
AVERAGE		 1.54
 
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.