iShares MSCI Norway ETF
ALTAR
Score™		 10.8% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 11.6x P/Sales
ratio		 1.3x
P/BV
ratio		 1.4x Div.
yield		 4.7%


  • 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) $39
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) $19,793
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 12.5 %
STATOILHYDRO ASA 10.8 %
KONGSBERG GRUPPEN 6.9 %
MARINE HARVEST 5.8 %
TELENOR ASA 5.5 %
NORSK HYDRO ASA 4.7 %
DET NORSKE OLJESELSKAP ASA 4.4 %
ORKLA ASA 4.0 %
STOREBRAND ASA 3.6 %
YARA INTERNATIONAL ASA 3.4 %
Total 61.7 %

TOP COUNTRY EXPOSURE
NORWAY 84.5 %
BRITAIN 2.3 %
FAROE ISLANDS 1.3 %
BERMUDA 1.2 %
DENMARK 0.6 %






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.
23.0% 15.8% 11.1% 6.2% 3.6%

Market Correlations
versus... Beta R-squared
S&P500 0.48 14%
MSCI EAFE 0.61 29%
MSCI Emg. Mkts. 0.51 23%

Technical Indicators
Recent close $27.17
30d moving avg. $28.50
Annualized volatility 17.0%
Short interest (ETF) 0.6%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.3%
Bid/Ask (% of price) 0.58%
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™: 10.8%


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 88.9 50 3 11.0 +0.2
GLCR GlacierShares Nasdaq Iceland ETF 9.5 95 -42 3.2 -7.6
MOO VanEck Agribusiness ETF 8.4 53 0 11.1 +0.3
EFAS Global X MSCI SuperDividend EAFE ETF 7.9 57 -4 8.7 -2.2
DFE WisdomTree Europe SmallCap Dividend Fund 5.9 58 -5 8.2 -2.6
VEGI iShares MSCI Agriculture Producers ETF 5.4 39 14 9.2 -1.6
VIDI Vident International Equity Strategy ETF 4.9 61 -8 10.4 -0.4
FDD First Trust Stoxx European Select Dividend Index Fund 4.4 58 -5 11.4 +0.6
CCNR ALPS CoreCommodity Natural Resources ETF 4.3 39 14 9.4 -1.4
FEP First Trust Europe AlphaDEX Fund 4.2 80 -27 8.1 -2.7
IEUS iShares MSCI Europe Small-Cap ETF 4.1 42 11 7.5 -3.4
DTH WisdomTree International High Dividend Fund 4.0 58 -5 8.1 -2.8
IDOG ALPS International Sector Dividend Dogs ETF 3.9 50 3 11.6 +0.8
IVAL Alpha Architect International Quantitative Value ETF 3.8 49 4 10.5 -0.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.8 46 7 9.8 -1.0
RCGE RockCreek Global Equality ETF 3.8 95 -42 6.8 -4.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.8 70 -17 4.0 -6.8
DLS WisdomTree International SmallCap Dividend Fund 3.5 58 -5 8.2 -2.6
FYLD Cambria Foreign Shareholder Yield ETF 3.3 59 -6 11.5 +0.7
VWID Virtus WMC International Dividend ETF 3.3 49 4 8.1 -2.7
IDLV Invesco S&P International Developed Low Volatility ETF 3.2 25 28 6.6 -4.2
FDFF Fidelity Disruptive Finance ETF 2.7 50 3 4.6 -6.3
FPXI First Trust International Equity Opportunities ETF 2.7 70 -17 4.3 -6.5
AIVI WisdomTree International AI Enhanced Value Fund 2.7 58 -5 6.9 -3.9
SDIV Global X Superdividend ETF 2.6 58 -5 42.5 +31.7
JHID John Hancock International High Dividend ETF 2.5 46 7 8.7 -2.1
EUDV ProShares MSCI Europe Dividend Growers ETF 2.4 55 -2 6.2 -4.6
NUDM Nuveen ESG International Developed Markets Equity ETF 2.3 31 22 5.9 -4.9
DIM WisdomTree International MidCap Dividend Fund 2.3 58 -5 7.2 -3.6
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.3 65 -12 10.4 -0.5
WWJD Inspire International ETF 2.2 80 -27 7.1 -3.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 13 7.2 -3.6
DWM WisdomTree International Equity Fund 2.1 48 5 7.1 -3.7
DFNL Davis Select Financial ETF 2.1 63 -10 7.6 -3.2
DWMF WisdomTree International Multifactor Fund 2.1 38 15 7.1 -3.8
DOL WisdomTree International LargeCap Dividend Fund 2.1 48 5 6.9 -3.9
SCHC Schwab International Small-Cap Equity ETF 2.0 11 42 7.6 -3.2
FIDI Fidelity International High Dividend ETF 2.0 18 35 8.2 -2.6
AVDV Avantis International Small Cap Value ETF 1.9 36 17 9.1 -1.7
GNR SPDR S&P Global Natural Resources ETF 1.9 40 13 10.6 -0.2
GCOW Pacer Global Cash Cows Dividend ETF 1.9 60 -7 10.6 -0.2
LVHI Franklin International Low Volatility High Dividend Index ET 1.8 40 13 9.8 -1.0
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.8 80 -27 11.0 +0.2
RODE Hartford Multifactor Diversified International ETF 1.8 29 24 10.3 -0.5
KNO AXS Knowledge Leaders ETF 1.8 78 -25 5.8 -5.0
FTRI First Trust Indxx Global Natural Resources Income ETF 1.8 70 -17 7.9 -2.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 6 7.8 -3.0
SCZ iShares MSCI EAFE Small-Cap ETF 1.7 40 13 6.9 -3.9
DINT Davis Select International ETF 1.7 55 -2 7.6 -3.2
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.7 49 4 7.0 -3.8
INEQ Columbia International Equity Income ETF 1.7 45 8 7.6 -3.2
OAIM OneAscent International Equity ETF 1.7 95 -42 5.5 -5.3
BOAT SonicShares Global Shipping ETF 1.7 69 -16 26.0 +15.2
FDEV Fidelity International Multifactor ETF 1.7 18 35 7.6 -3.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.7 29 24 7.7 -3.2
DSTX Distillate International Fundamental Stability & Value ETF 1.7 55 -2 7.7 -3.1
TPIF Timothy Plan International ETF 1.6 62 -9 6.1 -4.7
HAP VanEck Natural Resources ETF 1.6 50 3 9.1 -1.7
FNDC Schwab Fundamental International Small Co. Index ETF 1.5 39 14 5.8 -5.0
JPIN J.P. Morgan Diversified Return International Equity ETF 1.5 37 16 7.9 -2.9
FID First Trust S&P International Dividend Aristocrats ETF 1.4 60 -7 7.7 -3.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.4 8 45 7.3 -3.5
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.4 12 41 5.9 -4.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.4 80 -27 6.1 -4.7
IQDF FlexShares International Quality Dividend Index Fund 1.4 47 6 8.5 -2.3
SNSR Global X Internet of Things ETF 1.4 68 -15 4.8 -6.0
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 3 5.9 -4.9
SCHY Schwab International Dividend Equity ETF 1.3 14 39 9.5 -1.3
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 4 4.9 -5.9
AVDS Avantis International Small Cap Equity ETF 1.2 30 23 7.1 -3.7
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.2 80 -27 8.7 -2.1
CIL VictoryShares International Volatility Wtd ETF 1.2 45 8 6.4 -4.4
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.2 58 -5 6.5 -4.3
TEMP JPMorgan Climate Change Solutions ETF 1.2 49 4 5.6 -5.2
FEOE First Eagle Overseas Equity ETF 1.2 79 -26 7.2 -3.7
WDIV SPDR S&P Global Dividend ETF 1.2 40 13 9.0 -1.8
EFAV iShares MSCI EAFE Min Vol Factor ETF 1.2 22 31 6.0 -4.8
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.2 14 39 6.0 -4.8
BLES Inspire Global Hope ETF 1.2 61 -8 6.9 -3.9
IEUR iShares Core MSCI Europe ETF 1.1 11 42 7.1 -3.7
GWX SPDR S&P International Small Cap ETF 1.1 40 13 6.8 -4.0
RFEU First Trust Riverfront Dynamic Europe ETF 1.1 83 -30 10.0 -0.8
SPEU SPDR Portfolio Europe ETF 1.1 7 46 7.2 -3.6
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.1 58 -5 6.7 -4.1
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.1 9 44 8.9 -1.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.1 39 14 6.4 -4.4
FILL iShares MSCI Global Energy Producers ETF 1.1 39 14 11.4 +0.6
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 14 7.7 -3.1
IXC iShares Global Energy ETF 1.1 44 9 10.1 -0.7
VGK Vanguard FTSE Europe ETF 1.0 6 47 7.3 -3.5
IQDG WisdomTree International Quality Dividend Growth Fund 1.0 42 11 6.6 -4.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.0 42 11 6.3 -4.5
DEW WisdomTree Global High Dividend Fund 1.0 58 -5 8.4 -2.4
PPIE Putnam PanAgora ESG International Equity ETF 1.0 49 4 7.0 -3.8
DIVI Franklin International Core Dividend Tilt Index ETF 1.0 9 44 7.7 -3.2
EFRA iShares Environmental Infrastructure and Industrials ETF 1.0 47 6 5.3 -5.5
ERTH Invesco MSCI Sustainable Future ETF 0.9 62 -9 3.3 -7.5
EUFN iShares MSCI Europe Financials ETF 0.9 51 2 7.9 -2.9
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 0.9 61 -8 2.0 -8.8
BCOR Grayscale Bitcoin Adopters ETF 0.9 59 -6 2.1 -8.7
BBEU JPMorgan BetaBuilders Europe ETF 0.9 9 44 7.1 -3.7
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.9 61 -8 -0.6 -11.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.9 24 29 7.3 -3.5
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.9 56 -3 10.5 -0.3
IDV iShares International Select Dividend ETF 0.9 51 2 10.2 -0.6
FLEE Franklin FTSE Europe ETF 0.9 9 44 7.1 -3.7
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.9 46 7 6.5 -4.3
INTF iShares International Equity Factor ETF 0.9 15 38 7.4 -3.4
ESGD iShares ESG Aware MSCI EAFE ETF 0.8 20 33 6.5 -4.3
PICK iShares MSCI Global Metals & Mining Producers ETF 0.8 39 14 11.1 +0.3
AVSD Avantis Responsible International Equity ETF 0.8 23 30 5.1 -5.7
FNDF Schwab Fundamental International Large Co. Index ETF 0.8 25 28 9.1 -1.7
IQSI IQ Candriam International Equity ETF 0.8 15 38 6.2 -4.6
EFV iShares MSCI EAFE Value ETF 0.8 34 19 8.7 -2.1
QINT American Century Quality Diversified International ETF 0.8 39 14 6.9 -3.9
DMXF iShares ESG Advanced MSCI EAFE ETF 0.8 12 41 5.3 -5.5
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.8 25 28 6.0 -4.8
IEV iShares Europe ETF 0.7 67 -14 6.6 -4.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 8 8.5 -2.3
PBD Invesco Global Clean Energy ETF 0.7 75 -22 0.8 -10.0
TAN Invesco Solar ETF 0.7 67 -14 5.6 -5.3
RNRG Global X Renewable Energy Producers ETF 0.7 66 -13 5.0 -5.8
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.7 30 23 6.9 -3.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.7 20 33 6.5 -4.3
IEFA iShares Core MSCI EAFE ETF 0.7 7 46 6.7 -4.1
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.7 35 18 6.2 -4.6
DFIV Dimensional International Value ETF 0.7 27 26 9.1 -1.7
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.7 25 28 7.1 -3.7
UIVM VictoryShares International Value Momentum ETF 0.7 35 18 8.4 -2.4
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 33 6.1 -4.7
COPY Tweedy, Browne Insider + Value ETF 0.7 80 -27 12.1 +1.3
FENI Fidelity Enhanced International ETF 0.7 28 25 6.2 -4.6
IVLU iShares MSCI Intl Value Factor ETF 0.7 30 23 9.8 -1.1
VYMI Vanguard International High Dividend Yield ETF 0.6 17 36 9.2 -1.7
AVDE Avantis International Equity ETF 0.6 23 30 7.1 -3.7
IDEV iShares Core MSCI International Developed Markets ETF 0.6 4 49 6.8 -4.0
BKIE BNY Mellon International Equity ETF 0.6 4 49 6.7 -4.1
MXI iShares Global Materials ETF 0.6 41 12 7.4 -3.4
ROBO ROBO Global Robotics & Automation Index ETF 0.6 95 -42 3.2 -7.6
DTEC ALPS Disruptive Technologies ETF 0.6 50 3 3.7 -7.1
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.6 65 -12 1.9 -8.9
IBOT Vaneck Robotics ETF 0.6 47 6 4.0 -6.8
BOTZ Global X Robotics & Artificial Intelligence ETF 0.6 69 -16 2.1 -8.8
DFAI Dimensional International Core Equity Market ETF 0.6 18 35 6.9 -3.9
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 33 6.6 -4.2
DISV Dimensional International Small Cap Value ETF 0.6 42 11 9.0 -1.8
DIHP Dimensional International High Profitability ETF 0.6 29 24 6.8 -4.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 50 6.7 -4.1
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 30 8.2 -2.6
DXIV Dimensional International Vector Equity ETF 0.6 34 19 7.6 -3.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.6 36 17 6.3 -4.5
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 23 6.2 -4.6
VEA Vanguard FTSE Developed Markets ETF 0.6 3 50 6.9 -3.9
AVIV Avantis International Large Cap Value ETF 0.6 25 28 8.4 -2.5
DTAN Sparkline International Intangible Value ETF 0.5 55 -2 8.1 -2.7
DFIC Dimensional International Core Equity 2 ETF 0.5 23 30 7.2 -3.6
OCEN IQ Clean Oceans ETF 0.5 45 8 5.1 -5.7
DFSI Dimensional International Sustainability Core 1 ETF 0.5 24 29 6.2 -4.6
NXTG First Trust Indxx NextG ETF 0.5 70 -17 4.9 -5.9
EFA iShares MSCI EAFE ETF 0.5 35 18 6.4 -4.4
CZAR Themes Natural Monopoly ETF 0.5 35 18 5.6 -5.2
IDMO Invesco S&P International Developed Momentum ETF 0.5 25 28 5.8 -5.0
DFIS Dimensional International Small Cap ETF 0.5 39 14 7.1 -3.7
SHPP Pacer Industrials and Logistics ETF 0.5 60 -7 8.2 -2.6
RFDI First Trust Riverfront Dynamic Developed International ETF 0.5 83 -30 9.0 -1.8
JHMD John Hancock Multifactor Developed International ETF 0.5 39 14 7.2 -3.6
KXI iShares Global Consumer Staples ETF 0.5 41 12 5.9 -4.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.5 18 35 7.2 -3.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.4 25 28 6.9 -3.9
IXUS iShares Core MSCI Total International Stock ETF 0.4 7 46 7.5 -3.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.4 20 33 5.5 -5.3
AZTD Aztlan Global Stock Selection DM SMID ETF 0.4 75 -22 10.2 -0.6
IMTM iShares MSCI Intl Momentum Factor ETF 0.4 30 23 5.4 -5.4
IDHQ Invesco S&P International Developed High Quality ETF 0.4 29 24 6.4 -4.4
AIRL Themes Airlines ETF 0.4 35 18 3.2 -7.6
JETS U.S. Global Jets ETF 0.4 60 -7 3.4 -7.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 41 5.0 -5.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.4 20 33 6.1 -4.7
SCHF Schwab International Equity ETF 0.4 6 47 6.9 -3.9
XT iShares Exponential Technologies ETF 0.4 46 7 4.6 -6.2
VSGX Vanguard ESG International Stock ETF 0.4 10 43 7.5 -3.3
ZSB USCF Sustainable Battery Metals Strategy Fund 0.4 61 -8 5.6 -5.2
JSTC Adasina Social Justice All Cap Global ETF 0.4 89 -36 5.1 -5.7
VXUS Vanguard Total International Stock ETF 0.4 5 48 7.6 -3.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 23 7.5 -3.3
GLOF iShares Global Equity Factor ETF 0.4 20 33 6.7 -4.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 12 7.1 -3.7
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 23 7.3 -3.5
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 19 5.7 -5.2
CUT Invesco MSCI Global Timber ETF 0.3 61 -8 11.2 +0.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.3 34 19 7.3 -3.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 4 49 7.7 -3.1
ESGG FlexShares STOXX Global ESG Select Index Fund 0.3 42 11 5.3 -5.5
EFG iShares MSCI EAFE Growth ETF 0.3 36 17 4.2 -6.6
IXP iShares Global Comm Services ETF 0.2 42 11 5.9 -4.9
IGRO iShares International Dividend Growth ETF 0.2 15 38 7.1 -3.7
TTAI FCF International Quality ETF 0.2 59 -6 7.2 -3.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 44 5.5 -5.3
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 44 5.1 -5.7
IXG iShares Global Financials ETF 0.2 42 11 6.7 -4.1
KNCT Invesco Next Gen Connectivity ETF 0.2 40 13 4.5 -6.3
AFK VanEck Africa Index ETF 0.2 98 -45 14.7 +3.9
VT Vanguard Total World Stock ETF 0.1 6 47 5.7 -5.1
TOK iShares MSCI Kokusai ETF 0.1 26 27 5.0 -5.8
URTH iShares MSCI World ETF 0.1 24 29 5.0 -5.8
STXI Strive International Developed Markets ETF 0.1 29 24 6.4 -4.4
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 23 5.9 -4.9
ACWI iShares MSCI ACWI ETF 0.1 32 21 5.4 -5.4
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 43 6.8 -4.1
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 43 5.6 -5.2
IFGL iShares International Developed Real Estate ETF 0.1 48 5 7.0 -3.8
VIGI Vanguard International Dividend Appreciation ETF 0.1 10 43 6.5 -4.3
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 41 8.3 -2.5
ERET iShares Environmentally Aware Real Estate ETF 0.0 30 23 7.3 -3.5

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 15.0 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 53 bp
Equals: ALTAR Score 10.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.82 CATEGORY
AVERAGE		 1.64
 
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.