iShares MSCI Norway ETF
ALTAR
Score™		 10.5% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 11.3x P/Sales
ratio		 1.3x
P/BV
ratio		 1.5x Div.
yield		 4.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Norway Capped Investable Market Index Fund is an exchange-traded fund incorporated in the USA. The fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Norway IMI 25/50 Index.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Jan 23, 2012
Assets (mns) $43
Currency USD
Expense ratio 53 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 57
Wgt avg mkt cap (mns) $20,922
Large cap (>$10bn) 56.6%
Mid cap ($2-10bn) 30.0%
Small cap (<$2bn) 12.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DNB BANK ASA 12.8 %
STATOILHYDRO ASA 10.6 %
KONGSBERG GRUPPEN 7.3 %
TELENOR ASA 5.6 %
MARINE HARVEST 5.4 %
NORSK HYDRO ASA 4.6 %
ORKLA ASA 4.3 %
DET NORSKE OLJESELSKAP ASA 4.1 %
STOREBRAND ASA 3.5 %
YARA INTERNATIONAL ASA 3.3 %
Total 61.5 %

TOP COUNTRY EXPOSURE
NORWAY 83.3 %
BRITAIN 2.4 %
FAROE ISLANDS 1.3 %
BERMUDA 1.1 %
DENMARK 0.6 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
25.9% 13.8% 8.4% 6.3% 3.8%

Market Correlations
versus... Beta R-squared
S&P500 0.83 34%
MSCI EAFE 0.86 42%
MSCI Emg. Mkts. 0.67 27%

Technical Indicators
Recent close $29.40
30d moving avg. $27.98
Annualized volatility 21.5%
Short interest (ETF) 1.2%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.3%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $220

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 214 potential alternatives to the iShares MSCI Norway ETF ETF based on the alternatives' overlap in portfolio holdings with ENOR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ENOR Expense: 53 bp ALTAR Score™: 10.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ENOR
Ticker Fund
Name		 Overlap1
vs ENOR
(%)		 Expense
ratio
(bp)		 Savings
vs ENOR
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ENOR
(%)
NORW Global X MSCI Norway ETF 87.7 50 3 10.2 -0.3
GLCR GlacierShares Nasdaq Iceland ETF 9.6 95 -42 3.9 -6.6
MOO VanEck Agribusiness ETF 8.1 53 0 10.5 +0.0
EFAS Global X MSCI SuperDividend EAFE ETF 7.8 57 -4 8.1 -2.3
DFE WisdomTree Europe SmallCap Dividend Fund 5.9 58 -5 7.9 -2.5
VIDI Vident International Equity Strategy ETF 5.2 61 -8 10.6 +0.2
VEGI iShares MSCI Agriculture Producers ETF 5.1 39 14 8.8 -1.7
FYLD Cambria Foreign Shareholder Yield ETF 4.7 59 -6 11.3 +0.9
CCNR ALPS CoreCommodity Natural Resources ETF 4.5 39 14 10.6 +0.1
IEUS iShares MSCI Europe Small-Cap ETF 4.3 42 11 7.2 -3.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 4.3 70 -17 4.8 -5.7
FDD First Trust Stoxx European Select Dividend Index Fund 4.1 58 -5 11.2 +0.7
FEP First Trust Europe AlphaDEX Fund 4.1 80 -27 8.9 -1.5
DTH WisdomTree International High Dividend Fund 4.0 58 -5 8.3 -2.2
RCGE RockCreek Global Equality ETF 4.0 95 -42 6.6 -3.8
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.8 46 7 9.7 -0.8
IVAL Alpha Architect International Quantitative Value ETF 3.8 49 4 9.6 -0.9
IDOG ALPS International Sector Dividend Dogs ETF 3.8 50 3 12.0 +1.5
DLS WisdomTree International SmallCap Dividend Fund 3.6 58 -5 7.9 -2.5
FPXI First Trust International Equity Opportunities ETF 3.5 70 -17 4.2 -6.3
IDLV Invesco S&P International Developed Low Volatility ETF 3.4 25 28 6.2 -4.2
VWID Virtus WMC International Dividend ETF 3.3 49 4 8.3 -2.1
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.8 80 -27 10.2 -0.3
FDFF Fidelity Disruptive Finance ETF 2.7 50 3 4.3 -6.2
AIVI WisdomTree International AI Enhanced Value Fund 2.7 58 -5 7.0 -3.4
JHID John Hancock International High Dividend ETF 2.5 46 7 9.4 -1.1
EUDV ProShares MSCI Europe Dividend Growers ETF 2.4 55 -2 6.2 -4.2
NUDM Nuveen ESG International Developed Markets Equity ETF 2.3 31 22 6.2 -4.3
DIM WisdomTree International MidCap Dividend Fund 2.3 58 -5 7.4 -3.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.3 65 -12 11.9 +1.4
WWJD Inspire International ETF 2.2 80 -27 7.2 -3.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 13 7.4 -3.1
DWM WisdomTree International Equity Fund 2.1 48 5 7.3 -3.2
DFNL Davis Select Financial ETF 2.1 63 -10 7.5 -3.0
DWMF WisdomTree International Multifactor Fund 2.1 38 15 7.0 -3.4
DOL WisdomTree International LargeCap Dividend Fund 2.1 48 5 7.1 -3.4
FIDI Fidelity International High Dividend ETF 2.0 18 35 8.5 -1.9
AVDV Avantis International Small Cap Value ETF 1.9 36 17 9.2 -1.2
BOAT SonicShares Global Shipping ETF 1.9 69 -16 25.9 +15.4
GNR SPDR S&P Global Natural Resources ETF 1.9 40 13 10.8 +0.4
RODE Hartford Multifactor Diversified International ETF 1.9 29 24 11.4 +0.9
GCOW Pacer Global Cash Cows Dividend ETF 1.9 60 -7 11.0 +0.5
SCZ iShares MSCI EAFE Small-Cap ETF 1.8 40 13 6.8 -3.7
LVHI Franklin International Low Volatility High Dividend Index ET 1.8 40 13 10.4 -0.1
SCHC Schwab International Small-Cap Equity ETF 1.8 11 42 6.5 -4.0
KNO AXS Knowledge Leaders ETF 1.8 78 -25 6.0 -4.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 6 8.2 -2.3
DINT Davis Select International ETF 1.7 55 -2 7.8 -2.7
INEQ Columbia International Equity Income ETF 1.7 45 8 8.0 -2.5
OAIM OneAscent International Equity ETF 1.7 95 -42 5.6 -4.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.7 49 4 6.7 -3.8
FDEV Fidelity International Multifactor ETF 1.7 18 35 7.4 -3.1
FTRI First Trust Indxx Global Natural Resources Income ETF 1.7 70 -17 7.5 -3.0
DSTX Distillate International Fundamental Stability & Value ETF 1.7 55 -2 7.7 -2.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.7 29 24 7.7 -2.8
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.6 80 -27 9.3 -1.2
TPIF Timothy Plan International ETF 1.6 62 -9 6.2 -4.3
FNDC Schwab Fundamental International Small Co. Index ETF 1.5 39 14 5.6 -4.8
HAP VanEck Natural Resources ETF 1.5 50 3 9.3 -1.2
JPIN J.P. Morgan Diversified Return International Equity ETF 1.5 37 16 8.2 -2.3
FID First Trust S&P International Dividend Aristocrats ETF 1.4 60 -7 7.8 -2.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.4 80 -27 5.8 -4.6
SNSR Global X Internet of Things ETF 1.4 68 -15 4.5 -6.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.4 12 41 5.9 -4.5
IQDF FlexShares International Quality Dividend Index Fund 1.4 47 6 8.8 -1.7
SCHY Schwab International Dividend Equity ETF 1.3 14 39 9.6 -0.9
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 3 5.9 -4.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.3 8 45 6.0 -4.5
FEOE First Eagle Overseas Equity ETF 1.3 79 -26 7.8 -2.7
SDIV Global X Superdividend ETF 1.3 58 -5 40.9 +30.5
AVDS Avantis International Small Cap Equity ETF 1.2 30 23 7.2 -3.3
CIL VictoryShares International Volatility Wtd ETF 1.2 45 8 6.6 -3.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.2 58 -5 7.1 -3.4
IEUR iShares Core MSCI Europe ETF 1.2 11 42 7.4 -3.1
EFRA iShares Environmental Infrastructure and Industrials ETF 1.2 47 6 5.2 -5.2
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 4 5.7 -4.7
WDIV SPDR S&P Global Dividend ETF 1.2 40 13 9.1 -1.3
SPEU SPDR Portfolio Europe ETF 1.2 7 46 7.4 -3.1
RFEU First Trust Riverfront Dynamic Europe ETF 1.2 83 -30 10.6 +0.1
TEMP JPMorgan Climate Change Solutions ETF 1.2 49 4 5.8 -4.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.2 14 39 6.1 -4.4
BLES Inspire Global Hope ETF 1.2 61 -8 6.7 -3.7
EFAV iShares MSCI EAFE Min Vol Factor ETF 1.2 22 31 5.7 -4.8
VGK Vanguard FTSE Europe ETF 1.1 6 47 7.5 -3.0
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.1 58 -5 6.9 -3.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.1 9 44 9.1 -1.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.1 39 14 6.6 -3.9
GWX SPDR S&P International Small Cap ETF 1.1 40 13 5.8 -4.6
FILL iShares MSCI Global Energy Producers ETF 1.1 39 14 11.5 +1.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 14 7.8 -2.7
IQDG WisdomTree International Quality Dividend Growth Fund 1.0 42 11 7.2 -3.3
ERTH Invesco MSCI Sustainable Future ETF 1.0 62 -9 3.6 -6.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.0 42 11 7.0 -3.5
DEW WisdomTree Global High Dividend Fund 1.0 58 -5 8.3 -2.1
PPIE Putnam PanAgora ESG International Equity ETF 1.0 49 4 7.3 -3.1
EUFN iShares MSCI Europe Financials ETF 1.0 51 2 7.8 -2.7
IXC iShares Global Energy ETF 1.0 44 9 10.0 -0.4
DIVI Franklin International Core Dividend Tilt Index ETF 1.0 9 44 7.9 -2.6
FGD First Trust Dow Jones Global Select Dividend Index Fund 1.0 56 -3 10.5 +0.1
IDV iShares International Select Dividend ETF 0.9 51 2 10.7 +0.2
INTF iShares International Equity Factor ETF 0.9 15 38 7.5 -3.0
BBEU JPMorgan BetaBuilders Europe ETF 0.9 9 44 7.2 -3.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.9 24 29 7.3 -3.2
FLEE Franklin FTSE Europe ETF 0.9 9 44 7.2 -3.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.9 46 7 6.7 -3.7
ESGD iShares ESG Aware MSCI EAFE ETF 0.9 20 33 6.7 -3.8
PICK iShares MSCI Global Metals & Mining Producers ETF 0.8 39 14 12.2 +1.7
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 0.8 61 -8 1.3 -9.2
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.8 61 -8 -1.9 -12.4
BCOR Grayscale Bitcoin Adopters ETF 0.8 59 -6 2.3 -8.2
DMXF iShares ESG Advanced MSCI EAFE ETF 0.8 12 41 5.5 -5.0
EFV iShares MSCI EAFE Value ETF 0.8 34 19 9.0 -1.5
AVSD Avantis Responsible International Equity ETF 0.8 23 30 5.6 -4.9
FNDF Schwab Fundamental International Large Co. Index ETF 0.8 25 28 9.4 -1.1
IQSI IQ Candriam International Equity ETF 0.8 15 38 6.6 -3.9
IEV iShares Europe ETF 0.8 67 -14 6.9 -3.6
XT iShares Exponential Technologies ETF 0.8 46 7 4.8 -5.6
QINT American Century Quality Diversified International ETF 0.8 39 14 7.2 -3.2
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.8 25 28 5.9 -4.6
IEFA iShares Core MSCI EAFE ETF 0.7 7 46 6.9 -3.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.7 35 18 6.6 -3.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 8 8.7 -1.8
DFIV Dimensional International Value ETF 0.7 27 26 9.5 -1.0
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.7 30 23 6.9 -3.5
COPY Tweedy, Browne Insider + Value ETF 0.7 80 -27 11.7 +1.3
GSID Goldman Sachs MarketBeta International Equity ETF 0.7 20 33 6.8 -3.7
RNRG Global X Renewable Energy Producers ETF 0.7 66 -13 1.4 -9.1
PBD Invesco Global Clean Energy ETF 0.7 75 -22 -0.3 -10.8
TAN Invesco Solar ETF 0.7 67 -14 6.7 -3.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.7 25 28 7.3 -3.2
UIVM VictoryShares International Value Momentum ETF 0.7 35 18 8.8 -1.6
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 33 6.4 -4.1
IVLU iShares MSCI Intl Value Factor ETF 0.7 30 23 10.2 -0.2
FENI Fidelity Enhanced International ETF 0.7 28 25 6.5 -4.0
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 49 6.9 -3.6
VYMI Vanguard International High Dividend Yield ETF 0.7 17 36 9.4 -1.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 50 6.9 -3.6
AVDE Avantis International Equity ETF 0.6 23 30 7.3 -3.2
DFAI Dimensional International Core Equity Market ETF 0.6 18 35 7.0 -3.4
DIHP Dimensional International High Profitability ETF 0.6 29 24 7.1 -3.4
BKIE BNY Mellon International Equity ETF 0.6 4 49 7.0 -3.5
MXI iShares Global Materials ETF 0.6 41 12 7.5 -3.0
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 30 8.0 -2.4
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 33 7.0 -3.5
DISV Dimensional International Small Cap Value ETF 0.6 42 11 8.8 -1.6
NXTG First Trust Indxx NextG ETF 0.6 70 -17 5.2 -5.3
BOTZ Global X Robotics & Artificial Intelligence ETF 0.6 69 -16 2.4 -8.1
ROBO ROBO Global Robotics & Automation Index ETF 0.6 95 -42 3.4 -7.1
DTEC ALPS Disruptive Technologies ETF 0.6 50 3 3.9 -6.6
IBOT Vaneck Robotics ETF 0.6 47 6 4.3 -6.2
VEA Vanguard FTSE Developed Markets ETF 0.6 3 50 7.1 -3.4
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 23 6.2 -4.3
DFSI Dimensional International Sustainability Core 1 ETF 0.6 24 29 6.3 -4.2
DFIC Dimensional International Core Equity 2 ETF 0.6 23 30 7.3 -3.2
SHPP Pacer Industrials and Logistics ETF 0.6 60 -7 8.6 -1.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.6 36 17 6.5 -3.9
DTAN Sparkline International Intangible Value ETF 0.6 55 -2 8.5 -1.9
AVIV Avantis International Large Cap Value ETF 0.6 25 28 8.5 -2.0
EFA iShares MSCI EAFE ETF 0.5 35 18 6.6 -3.8
OCEN IQ Clean Oceans ETF 0.5 45 8 6.0 -4.4
DXIV Dimensional International Vector Equity ETF 0.5 34 19 7.7 -2.8
AZTD Aztlan Global Stock Selection DM SMID ETF 0.5 75 -22 7.4 -3.1
CZAR Themes Natural Monopoly ETF 0.5 35 18 5.7 -4.8
RFDI First Trust Riverfront Dynamic Developed International ETF 0.5 83 -30 9.2 -1.3
DFIS Dimensional International Small Cap ETF 0.5 39 14 7.2 -3.3
JHMD John Hancock Multifactor Developed International ETF 0.5 39 14 7.5 -3.0
IDHQ Invesco S&P International Developed High Quality ETF 0.5 29 24 6.6 -3.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.5 80 -27 4.9 -5.6
KXI iShares Global Consumer Staples ETF 0.5 41 12 5.6 -4.9
IMFL Invesco International Developed Dynamic Multifactor ETF 0.5 34 19 6.0 -4.4
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 46 7.7 -2.7
IMTM iShares MSCI Intl Momentum Factor ETF 0.5 30 23 5.4 -5.1
AIRL Themes Airlines ETF 0.5 35 18 1.7 -8.7
JETS U.S. Global Jets ETF 0.5 60 -7 2.7 -7.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.5 20 33 5.6 -4.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.5 18 35 7.8 -2.7
IDMO Invesco S&P International Developed Momentum ETF 0.4 25 28 5.3 -5.2
VSGX Vanguard ESG International Stock ETF 0.4 10 43 7.5 -3.0
SCHF Schwab International Equity ETF 0.4 6 47 7.2 -3.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.4 25 28 7.0 -3.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 41 5.1 -5.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.4 20 33 6.3 -4.2
VXUS Vanguard Total International Stock ETF 0.4 5 48 7.7 -2.7
JSTC Adasina Social Justice All Cap Global ETF 0.4 89 -36 4.8 -5.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 23 7.7 -2.8
ZSB USCF Sustainable Battery Metals Strategy Fund 0.4 61 -8 7.9 -2.6
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 23 7.5 -3.0
GLOF iShares Global Equity Factor ETF 0.4 20 33 6.3 -4.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 12 7.4 -3.1
ACWX iShares MSCI ACWI ex U.S. ETF 0.3 34 19 7.6 -2.9
CUT Invesco MSCI Global Timber ETF 0.3 61 -8 10.4 -0.0
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 4 49 7.9 -2.5
EFG iShares MSCI EAFE Growth ETF 0.3 36 17 4.3 -6.2
ESGG FlexShares STOXX Global ESG Select Index Fund 0.3 42 11 5.3 -5.1
IGRO iShares International Dividend Growth ETF 0.2 15 38 7.2 -3.2
IXP iShares Global Comm Services ETF 0.2 42 11 5.3 -5.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 44 5.6 -4.9
IXG iShares Global Financials ETF 0.2 42 11 6.5 -3.9
TTAI FCF International Quality ETF 0.2 59 -6 7.3 -3.2
KNCT Invesco Next Gen Connectivity ETF 0.2 40 13 4.7 -5.8
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 44 5.1 -5.3
VT Vanguard Total World Stock ETF 0.2 6 47 5.8 -4.7
AFK VanEck Africa Index ETF 0.1 98 -45 11.5 +1.0
TOK iShares MSCI Kokusai ETF 0.1 26 27 5.0 -5.5
STXI Strive International Developed Markets ETF 0.1 29 24 6.6 -3.9
URTH iShares MSCI World ETF 0.1 24 29 5.0 -5.5
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 23 5.9 -4.6
ACWI iShares MSCI ACWI ETF 0.1 32 21 5.5 -5.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 43 7.9 -2.6
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 43 5.6 -4.8
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 41 8.0 -2.5
IFGL iShares International Developed Real Estate ETF 0.1 48 5 6.9 -3.6
VIGI Vanguard International Dividend Appreciation ETF 0.1 10 43 6.3 -4.1
ERET iShares Environmentally Aware Real Estate ETF 0.1 30 23 7.3 -3.2

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 MSCI Norway ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 53 bp
Equals: ALTAR Score 10.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.77 CATEGORY
AVERAGE		 1.63
 
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.