iShares MSCI Norway ETF
ALTAR
Score™		 10.5% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 12.1x P/Sales
ratio		 1.3x
P/BV
ratio		 1.5x Div.
yield		 4.5%


  • 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) $41
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 56
Wgt avg mkt cap (mns) $19,787
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 13.4 %
STATOILHYDRO ASA 10.6 %
MARINE HARVEST 5.9 %
KONGSBERG GRUPPEN 5.7 %
NORSK HYDRO ASA 5.6 %
TELENOR ASA 4.5 %
DET NORSKE OLJESELSKAP ASA 4.3 %
ORKLA ASA 4.2 %
STOREBRAND ASA 3.7 %
YARA INTERNATIONAL ASA 3.4 %
Total 61.3 %

TOP COUNTRY EXPOSURE
NORWAY 84.6 %
BRITAIN 2.5 %
FAROE ISLANDS 1.3 %
BERMUDA 1.2 %
DENMARK 0.6 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
22.7% 14.1% 6.7% 6.1% 3.6%

Market Correlations
versus... Beta R-squared
S&P500 0.73 40%
MSCI EAFE 1.04 58%
MSCI Emg. Mkts. 0.82 41%

Technical Indicators
Recent close $27.95
30d moving avg. $27.62
Annualized volatility 17.0%
Short interest (ETF) 0.7%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.4%
Bid/Ask (% of price) 0.56%
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 88.8 50 3 10.6 +0.2
GLCR GlacierShares Nasdaq Iceland ETF 9.7 95 -42 2.8 -7.7
MOO VanEck Agribusiness ETF 8.3 53 0 10.6 +0.2
EFAS Global X MSCI SuperDividend EAFE ETF 7.5 57 -4 8.4 -2.1
DFE WisdomTree Europe SmallCap Dividend Fund 6.0 58 -5 8.0 -2.5
VEGI iShares MSCI Agriculture Producers ETF 5.3 39 14 9.1 -1.4
VIDI Vident International Equity Strategy ETF 4.8 61 -8 10.3 -0.1
FDD First Trust Stoxx European Select Dividend Index Fund 4.3 58 -5 11.0 +0.5
FEP First Trust Europe AlphaDEX Fund 4.1 80 -27 7.9 -2.6
IEUS iShares MSCI Europe Small-Cap ETF 4.0 42 11 7.3 -3.2
CCNR ALPS CoreCommodity Natural Resources ETF 4.0 39 14 8.3 -2.2
DTH WisdomTree International High Dividend Fund 4.0 58 -5 8.0 -2.5
IVAL Alpha Architect International Quantitative Value ETF 3.9 49 4 10.0 -0.5
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.8 46 7 9.5 -1.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.8 70 -17 3.9 -6.6
RCGE RockCreek Global Equality ETF 3.7 95 -42 6.6 -3.9
DLS WisdomTree International SmallCap Dividend Fund 3.5 58 -5 7.9 -2.5
IDOG ALPS International Sector Dividend Dogs ETF 3.5 50 3 11.4 +1.0
FYLD Cambria Foreign Shareholder Yield ETF 3.3 59 -6 11.1 +0.7
VWID Virtus WMC International Dividend ETF 3.3 49 4 8.0 -2.5
IDLV Invesco S&P International Developed Low Volatility ETF 3.2 25 28 6.5 -3.9
FDFF Fidelity Disruptive Finance ETF 2.7 50 3 4.7 -5.8
AIVI WisdomTree International AI Enhanced Value Fund 2.7 58 -5 6.7 -3.7
SDIV Global X Superdividend ETF 2.7 58 -5 16.7 +6.3
FPXI First Trust International Equity Opportunities ETF 2.6 70 -17 4.4 -6.1
JHID John Hancock International High Dividend ETF 2.5 46 7 9.2 -1.3
EUDV ProShares MSCI Europe Dividend Growers ETF 2.4 55 -2 6.1 -4.3
NUDM Nuveen ESG International Developed Markets Equity ETF 2.3 31 22 5.9 -4.6
DIM WisdomTree International MidCap Dividend Fund 2.3 58 -5 7.2 -3.3
WWJD Inspire International ETF 2.2 80 -27 7.1 -3.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.1 40 13 7.0 -3.4
DWM WisdomTree International Equity Fund 2.1 48 5 6.9 -3.5
DFNL Davis Select Financial ETF 2.1 63 -10 7.4 -3.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.1 65 -12 10.6 +0.2
DWMF WisdomTree International Multifactor Fund 2.1 38 15 7.1 -3.4
DOL WisdomTree International LargeCap Dividend Fund 2.1 48 5 6.8 -3.7
FIDI Fidelity International High Dividend ETF 2.0 18 35 8.0 -2.5
SCHC Schwab International Small-Cap Equity ETF 2.0 11 42 7.3 -3.2
AVDV Avantis International Small Cap Value ETF 1.9 36 17 8.6 -1.8
BOAT SonicShares Global Shipping ETF 1.9 69 -16 26.2 +15.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.8 80 -27 10.6 +0.2
LVHI Franklin International Low Volatility High Dividend Index ET 1.8 40 13 10.1 -0.3
GNR SPDR S&P Global Natural Resources ETF 1.8 40 13 10.3 -0.2
KNO AXS Knowledge Leaders ETF 1.8 78 -25 5.6 -4.8
RODE Hartford Multifactor Diversified International ETF 1.8 29 24 10.3 -0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 6 7.7 -2.8
DINT Davis Select International ETF 1.7 55 -2 7.7 -2.8
INEQ Columbia International Equity Income ETF 1.7 45 8 7.6 -2.9
SCZ iShares MSCI EAFE Small-Cap ETF 1.7 40 13 6.8 -3.7
OAIM OneAscent International Equity ETF 1.7 95 -42 5.4 -5.1
FDEV Fidelity International Multifactor ETF 1.7 18 35 7.4 -3.1
GCOW Pacer Global Cash Cows Dividend ETF 1.7 60 -7 10.4 -0.1
DSTX Distillate International Fundamental Stability & Value ETF 1.7 55 -2 7.6 -2.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.7 29 24 7.4 -3.0
FTRI First Trust Indxx Global Natural Resources Income ETF 1.7 70 -17 7.6 -2.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.6 49 4 6.8 -3.7
TPIF Timothy Plan International ETF 1.6 62 -9 6.0 -4.5
FNDC Schwab Fundamental International Small Co. Index ETF 1.5 39 14 5.7 -4.8
HAP VanEck Natural Resources ETF 1.5 50 3 8.8 -1.7
JPIN J.P. Morgan Diversified Return International Equity ETF 1.5 37 16 7.8 -2.7
FID First Trust S&P International Dividend Aristocrats ETF 1.4 60 -7 7.7 -2.8
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.4 12 41 5.7 -4.7
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.4 8 45 7.1 -3.4
IQDF FlexShares International Quality Dividend Index Fund 1.4 47 6 8.4 -2.1
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.3 80 -27 5.9 -4.6
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 3 5.8 -4.6
AVDS Avantis International Small Cap Equity ETF 1.2 30 23 6.6 -3.8
CIL VictoryShares International Volatility Wtd ETF 1.2 45 8 6.4 -4.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.2 58 -5 6.8 -3.7
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 4 5.1 -5.3
WDIV SPDR S&P Global Dividend ETF 1.2 40 13 8.9 -1.5
SNSR Global X Internet of Things ETF 1.2 68 -15 4.6 -5.8
TEMP JPMorgan Climate Change Solutions ETF 1.2 49 4 5.8 -4.7
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.2 80 -27 8.4 -2.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.2 14 39 5.9 -4.6
BLES Inspire Global Hope ETF 1.2 61 -8 6.8 -3.7
FEOE First Eagle Overseas Equity ETF 1.1 79 -26 6.8 -3.6
SCHY Schwab International Dividend Equity ETF 1.1 14 39 9.6 -0.8
RFEU First Trust Riverfront Dynamic Europe ETF 1.1 83 -30 10.0 -0.5
IEUR iShares Core MSCI Europe ETF 1.1 11 42 7.1 -3.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.1 58 -5 6.6 -3.8
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.1 9 44 8.9 -1.5
GWX SPDR S&P International Small Cap ETF 1.1 40 13 6.5 -4.0
EFAV iShares MSCI EAFE Min Vol Factor ETF 1.1 22 31 5.9 -4.6
SPEU SPDR Portfolio Europe ETF 1.1 7 46 7.1 -3.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.1 39 14 6.4 -4.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 14 7.5 -2.9
ESGD iShares ESG Aware MSCI EAFE ETF 1.0 20 33 6.3 -4.2
IQDG WisdomTree International Quality Dividend Growth Fund 1.0 42 11 6.9 -3.6
VGK Vanguard FTSE Europe ETF 1.0 6 47 7.2 -3.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.0 42 11 6.5 -3.9
DEW WisdomTree Global High Dividend Fund 1.0 58 -5 8.2 -2.3
PPIE Putnam PanAgora ESG International Equity ETF 1.0 49 4 7.2 -3.3
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.0 61 -8 2.0 -8.4
BCOR Grayscale Bitcoin Adopters ETF 1.0 59 -6 2.4 -8.1
DIVI Franklin International Core Dividend Tilt Index ETF 1.0 9 44 7.5 -2.9
IXC iShares Global Energy ETF 1.0 44 9 9.9 -0.6
EFRA iShares Environmental Infrastructure and Industrials ETF 1.0 47 6 5.4 -5.1
ERTH Invesco MSCI Sustainable Future ETF 0.9 62 -9 3.4 -7.1
EUFN iShares MSCI Europe Financials ETF 0.9 51 2 7.8 -2.7
ICPY Tweedy, Browne International Insider Value ETF 0.9 80 -27 11.4 +0.9
JIVE JPMorgan International Value ETF 0.9 55 -2 10.7 +0.2
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.9 61 -8 -0.6 -11.0
BBEU JPMorgan BetaBuilders Europe ETF 0.9 9 44 7.0 -3.5
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.9 56 -3 10.6 +0.1
IDV iShares International Select Dividend ETF 0.9 51 2 10.3 -0.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.9 24 29 7.1 -3.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.9 46 7 6.5 -3.9
FLEE Franklin FTSE Europe ETF 0.9 9 44 7.0 -3.5
INTF iShares International Equity Factor ETF 0.9 15 38 7.3 -3.2
PICK iShares MSCI Global Metals & Mining Producers ETF 0.8 39 14 10.6 +0.1
QINT American Century Quality Diversified International ETF 0.8 39 14 6.8 -3.6
IQSI IQ Candriam International Equity ETF 0.8 15 38 6.2 -4.2
EFV iShares MSCI EAFE Value ETF 0.8 34 19 8.5 -2.0
AVSD Avantis Responsible International Equity ETF 0.8 23 30 5.1 -5.3
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.8 25 28 6.0 -4.5
FNDF Schwab Fundamental International Large Co. Index ETF 0.7 25 28 8.9 -1.6
ROBO ROBO Global Robotics & Automation Index ETF 0.7 95 -42 3.0 -7.4
BOTZ Global X Robotics & Artificial Intelligence ETF 0.7 69 -16 2.0 -8.5
DTEC ALPS Disruptive Technologies ETF 0.7 50 3 3.6 -6.8
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.7 65 -12 1.9 -8.6
IBOT Vaneck Robotics ETF 0.7 47 6 3.9 -6.5
IEV iShares Europe ETF 0.7 67 -14 6.6 -3.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 8 8.3 -2.1
DMXF iShares ESG Advanced MSCI EAFE ETF 0.7 12 41 5.4 -5.1
IVLU iShares MSCI Intl Value Factor ETF 0.7 30 23 9.6 -0.8
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.7 30 23 6.7 -3.8
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.7 35 18 6.2 -4.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.7 20 33 6.5 -4.0
PBD Invesco Global Clean Energy ETF 0.7 75 -22 0.8 -9.7
TAN Invesco Solar ETF 0.7 67 -14 5.9 -4.6
RNRG Global X Renewable Energy Producers ETF 0.7 66 -13 5.3 -5.2
IEFA iShares Core MSCI EAFE ETF 0.7 7 46 6.7 -3.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.7 25 28 7.1 -3.3
UIVM VictoryShares International Value Momentum ETF 0.7 35 18 8.4 -2.0
COPY Tweedy, Browne Insider + Value ETF 0.7 80 -27 11.6 +1.1
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.7 20 33 6.1 -4.4
DFIV Dimensional International Value ETF 0.7 27 26 8.9 -1.5
FENI Fidelity Enhanced International ETF 0.7 28 25 6.2 -4.3
AVDE Avantis International Equity ETF 0.6 23 30 7.0 -3.4
MXI iShares Global Materials ETF 0.6 41 12 7.2 -3.2
VYMI Vanguard International High Dividend Yield ETF 0.6 17 36 9.0 -1.5
DISV Dimensional International Small Cap Value ETF 0.6 42 11 8.9 -1.6
IDEV iShares Core MSCI International Developed Markets ETF 0.6 4 49 6.7 -3.8
BKIE BNY Mellon International Equity ETF 0.6 4 49 6.6 -3.9
DFAI Dimensional International Core Equity Market ETF 0.6 18 35 6.7 -3.7
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 30 8.1 -2.4
DIHP Dimensional International High Profitability ETF 0.6 29 24 6.6 -3.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.6 36 17 6.3 -4.1
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 33 6.6 -3.9
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 50 6.6 -3.8
AVIV Avantis International Large Cap Value ETF 0.6 25 28 8.3 -2.2
DXIV Dimensional International Vector Equity ETF 0.5 34 19 7.4 -3.0
SHPP Pacer Industrials and Logistics ETF 0.5 60 -7 8.3 -2.2
OCEN IQ Clean Oceans ETF 0.5 45 8 5.3 -5.1
IQLT iShares MSCI Intl Quality Factor ETF 0.5 30 23 6.1 -4.4
VEA Vanguard FTSE Developed Markets ETF 0.5 3 50 6.8 -3.7
DTAN Sparkline International Intangible Value ETF 0.5 55 -2 8.1 -2.3
DFIC Dimensional International Core Equity 2 ETF 0.5 23 30 7.1 -3.4
DFSI Dimensional International Sustainability Core 1 ETF 0.5 24 29 6.1 -4.3
IDMO Invesco S&P International Developed Momentum ETF 0.5 25 28 5.8 -4.7
EFA iShares MSCI EAFE ETF 0.5 35 18 6.4 -4.1
DFIS Dimensional International Small Cap ETF 0.5 39 14 7.0 -3.5
CZAR Themes Natural Monopoly ETF 0.5 35 18 5.5 -4.9
AIRL Themes Airlines ETF 0.5 35 18 2.3 -8.2
JETS U.S. Global Jets ETF 0.5 60 -7 2.7 -7.8
KXI iShares Global Consumer Staples ETF 0.5 41 12 5.7 -4.8
JHMD John Hancock Multifactor Developed International ETF 0.5 39 14 7.1 -3.3
NXTG First Trust Indxx NextG ETF 0.5 70 -17 4.8 -5.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.5 20 33 5.3 -5.1
RFDI First Trust Riverfront Dynamic Developed International ETF 0.5 83 -30 8.9 -1.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.4 25 28 6.9 -3.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.4 18 35 7.3 -3.2
ZSB USCF Sustainable Battery Metals Strategy Fund 0.4 61 -8 5.1 -5.4
IDHQ Invesco S&P International Developed High Quality ETF 0.4 29 24 6.3 -4.1
IXUS iShares Core MSCI Total International Stock ETF 0.4 7 46 7.5 -3.0
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.4 20 33 6.1 -4.4
VSGX Vanguard ESG International Stock ETF 0.4 10 43 7.5 -3.0
SCHF Schwab International Equity ETF 0.4 6 47 6.8 -3.7
VXUS Vanguard Total International Stock ETF 0.4 5 48 7.6 -2.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 23 7.4 -3.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 41 4.9 -5.6
CUT Invesco MSCI Global Timber ETF 0.4 61 -8 10.7 +0.3
GLOF iShares Global Equity Factor ETF 0.4 20 33 6.6 -3.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 12 7.1 -3.3
CWI SPDR MSCI ACWI ex-US ETF 0.3 30 23 7.3 -3.1
JSTC Adasina Social Justice All Cap Global ETF 0.3 89 -36 4.8 -5.7
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 19 5.8 -4.7
XT iShares Exponential Technologies ETF 0.3 46 7 4.5 -6.0
ACWX iShares MSCI ACWI ex U.S. ETF 0.3 34 19 7.3 -3.2
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 4 49 7.6 -2.8
EFG iShares MSCI EAFE Growth ETF 0.3 36 17 4.1 -6.3
ESGG FlexShares STOXX Global ESG Select Index Fund 0.3 42 11 5.2 -5.2
IGRO iShares International Dividend Growth ETF 0.2 15 38 6.9 -3.6
IXP iShares Global Comm Services ETF 0.2 42 11 5.6 -4.8
TTAI FCF International Quality ETF 0.2 59 -6 7.4 -3.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 44 5.5 -5.0
IXG iShares Global Financials ETF 0.2 42 11 6.5 -3.9
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 44 5.1 -5.4
KNCT Invesco Next Gen Connectivity ETF 0.2 40 13 4.6 -5.9
VT Vanguard Total World Stock ETF 0.1 6 47 5.7 -4.8
AFK VanEck Africa Index ETF 0.1 98 -45 14.0 +3.6
TOK iShares MSCI Kokusai ETF 0.1 26 27 4.9 -5.6
STXI Strive International Developed Markets ETF 0.1 29 24 6.3 -4.2
URTH iShares MSCI World ETF 0.1 24 29 4.9 -5.5
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 23 5.7 -4.7
ACWI iShares MSCI ACWI ETF 0.1 32 21 5.3 -5.1
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 43 6.7 -3.8
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 43 5.6 -4.9
IFGL iShares International Developed Real Estate ETF 0.1 48 5 7.0 -3.5
IMTM iShares MSCI Intl Momentum Factor ETF 0.1 30 23 5.2 -5.3
VIGI Vanguard International Dividend Appreciation ETF 0.1 10 43 6.3 -4.2
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 41 8.2 -2.3
ERET iShares Environmentally Aware Real Estate ETF 0.0 30 23 7.3 -3.1

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 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 15.1 %
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		 1.83 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.