iShares MSCI Norway ETF
ALTAR
Score™		 8.5% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 13.6x P/Sales
ratio		 1.4x
P/BV
ratio		 1.6x 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) $102
Currency USD
Expense ratio 53 bp
Distributions Semi-annual

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) $19,951
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
STATOILHYDRO ASA 11.5 %
DNB BANK ASA 10.7 %
NORSK HYDRO ASA 6.9 %
KONGSBERG GRUPPEN 6.0 %
DET NORSKE OLJESELSKAP ASA 5.1 %
TELENOR ASA 4.2 %
MARINE HARVEST 3.8 %
YARA INTERNATIONAL ASA 3.6 %
SUBSEA 7 SA 3.4 %
ORKLA ASA 3.3 %
Total 58.5 %

TOP COUNTRY EXPOSURE
NORWAY 83.4 %
BRITAIN 3.4 %
BERMUDA 1.0 %
FAROE ISLANDS 1.0 %
DENMARK 0.6 %






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.
28.9% 40.3% 9.0% 9.7% 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.46 9%
MSCI EAFE 0.45 15%
MSCI Emg. Mkts. 0.26 8%

Technical Indicators
Recent close $32.47
30d moving avg. $37.04
Annualized volatility 17.0%
Short interest (ETF) 0.7%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 73
Turnover 2.3%
Bid/Ask (% of price) 0.36%
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™: 8.5%


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
(%)
JIVE JPMorgan International Value ETF 34.4 55 -2 8.1 -0.4
EFAS Global X MSCI SuperDividend EAFE ETF 9.7 57 -4 7.4 -1.1
MOO VanEck Agribusiness ETF 8.5 53 0 9.4 +0.9
DFE WisdomTree Europe SmallCap Dividend Fund 7.4 58 -5 7.6 -0.9
GLCR GlacierShares Nasdaq Iceland ETF 7.3 95 -42 3.2 -5.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 6.8 70 -17 3.6 -4.9
VIDI Vident International Equity Strategy ETF 6.5 61 -8 8.0 -0.6
FYLD Cambria Foreign Shareholder Yield ETF 6.4 59 -6 10.4 +1.9
IDOG ALPS International Sector Dividend Dogs ETF 5.9 50 3 9.5 +1.0
CCNR ALPS CoreCommodity Natural Resources ETF 5.6 39 14 8.4 -0.1
DLS WisdomTree International SmallCap Dividend Fund 5.0 58 -5 7.4 -1.2
IEUS iShares MSCI Europe Small-Cap ETF 4.9 42 11 6.8 -1.7
DTH WisdomTree International High Dividend Fund 4.9 58 -5 7.3 -1.2
FEP First Trust Europe AlphaDEX Fund 4.9 80 -27 6.8 -1.7
FDD First Trust Stoxx European Select Dividend Index Fund 4.7 58 -5 9.7 +1.2
VEGI iShares MSCI Agriculture Producers ETF 4.7 39 14 7.9 -0.7
OAIM OneAscent International Equity ETF 4.7 95 -42 4.3 -4.2
IDV iShares International Select Dividend ETF 4.7 51 2 9.4 +0.9
SDIV Global X Superdividend ETF 4.5 58 -5 14.0 +5.5
FGD First Trust Dow Jones Global Select Dividend Index Fund 4.3 56 -3 9.8 +1.3
FIDI Fidelity International High Dividend ETF 4.3 18 35 7.4 -1.1
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 4.2 46 7 8.1 -0.4
IVAL Alpha Architect International Quantitative Value ETF 3.9 49 4 7.6 -0.9
DIM WisdomTree International MidCap Dividend Fund 3.6 58 -5 6.2 -2.3
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.3 65 -12 8.0 -0.5
JHID John Hancock International High Dividend ETF 3.2 46 7 7.7 -0.8
IDLV Invesco S&P International Developed Low Volatility ETF 3.2 25 28 6.4 -2.1
RCGE RockCreek Global Equality ETF 3.2 95 -42 6.1 -2.4
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 3.1 58 -5 9.1 +0.6
DSTX Distillate International Fundamental Stability & Value ETF 3.0 55 -2 6.6 -1.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 3.0 29 24 7.0 -1.5
DWMF WisdomTree International Multifactor Fund 2.7 38 15 6.5 -2.0
GNR SPDR S&P Global Natural Resources ETF 2.6 40 13 8.8 +0.3
QINT American Century Quality Diversified International ETF 2.6 39 14 6.5 -2.0
GCOW Pacer Global Cash Cows Dividend ETF 2.4 60 -7 9.7 +1.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.4 80 -27 6.3 -2.2
FTRI First Trust Indxx Global Natural Resources Income ETF 2.3 70 -17 6.7 -1.8
SCHC Schwab International Small-Cap Equity ETF 2.3 11 42 6.6 -1.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.3 80 -27 8.9 +0.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.3 40 13 5.5 -3.0
DWM WisdomTree International Equity Fund 2.2 48 5 5.5 -3.0
SCZ iShares MSCI EAFE Small-Cap ETF 2.2 40 13 6.1 -2.4
NUDM Nuveen ESG International Developed Markets Equity ETF 2.1 31 22 5.4 -3.1
FDEV Fidelity International Multifactor ETF 2.0 18 35 7.4 -1.2
BOAT SonicShares Global Shipping ETF 2.0 69 -16 21.5 +13.0
DFNL Davis Select Financial ETF 2.0 63 -10 7.4 -1.1
IQDF FlexShares International Quality Dividend Index Fund 2.0 47 6 7.3 -1.2
EUDV ProShares MSCI Europe Dividend Growers ETF 2.0 55 -2 5.8 -2.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 2.0 80 -27 5.5 -3.0
DOL WisdomTree International LargeCap Dividend Fund 2.0 48 5 5.4 -3.1
AIVI WisdomTree International AI Enhanced Value Fund 1.9 58 -5 6.1 -2.4
WWJD Inspire International ETF 1.8 80 -27 6.3 -2.2
JPIN J.P. Morgan Diversified Return International Equity ETF 1.8 37 16 7.0 -1.5
AVDV Avantis International Small Cap Value ETF 1.8 36 17 7.7 -0.8
EFAV iShares MSCI EAFE Min Vol Factor ETF 1.8 22 31 5.9 -2.6
FID First Trust S&P International Dividend Aristocrats ETF 1.8 60 -7 7.8 -0.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.7 49 4 6.0 -2.5
FNDC Schwab Fundamental International Small Co. Index ETF 1.7 39 14 6.7 -1.9
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.7 24 29 6.9 -1.6
FPXI First Trust International Equity Opportunities ETF 1.7 70 -17 3.2 -5.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.6 8 45 6.2 -2.3
CZAR Themes Natural Monopoly ETF 1.6 35 18 5.5 -3.0
KNO AXS Knowledge Leaders ETF 1.6 78 -25 3.8 -4.7
AVDS Avantis International Small Cap Equity ETF 1.5 30 23 6.0 -2.5
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.5 42 11 3.8 -4.7
PPIE Putnam PanAgora ESG International Equity ETF 1.5 49 4 6.2 -2.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.5 39 14 7.0 -1.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 1.5 9 44 8.0 -0.6
HAP VanEck Natural Resources ETF 1.4 50 3 6.9 -1.6
TPIF Timothy Plan International ETF 1.4 62 -9 5.5 -3.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 1.4 25 28 6.2 -2.3
SCHY Schwab International Dividend Equity ETF 1.4 14 39 8.5 -0.1
GWX SPDR S&P International Small Cap ETF 1.4 40 13 5.7 -2.8
LVHI Franklin International Low Volatility High Dividend Index ET 1.4 40 13 7.6 -0.9
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.4 20 33 5.6 -2.9
DEW WisdomTree Global High Dividend Fund 1.4 58 -5 7.3 -1.2
FDVV Fidelity High Dividend ETF 1.4 15 38 6.7 -1.8
SPEU SPDR Portfolio Europe ETF 1.4 7 46 6.4 -2.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.4 39 14 6.1 -2.4
IEUR iShares Core MSCI Europe ETF 1.3 11 42 6.4 -2.1
SNSR Global X Internet of Things ETF 1.3 68 -15 3.1 -5.4
CIL VictoryShares International Volatility Wtd ETF 1.3 45 8 5.8 -2.7
DIVI Franklin International Core Dividend Tilt Index ETF 1.3 9 44 6.4 -2.1
VGK Vanguard FTSE Europe ETF 1.3 6 47 6.5 -2.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.3 12 41 5.2 -3.3
WDIV SPDR S&P Global Dividend ETF 1.3 40 13 9.1 +0.5
SDG iShares MSCI Global Sustainable Development Goals ETF 1.2 49 4 4.5 -4.0
IXC iShares Global Energy ETF 1.2 44 9 8.0 -0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.2 14 39 5.2 -3.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.2 47 6 6.9 -1.6
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.2 50 3 5.7 -2.8
FEOE First Eagle Overseas Equity ETF 1.1 79 -26 6.1 -2.4
INTF iShares International Equity Factor ETF 1.1 15 38 6.5 -2.1
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.1 61 -8 1.5 -7.0
BBEU JPMorgan BetaBuilders Europe ETF 1.1 9 44 6.1 -2.4
FNDF Schwab Fundamental International Large Co. Index ETF 1.1 25 28 7.2 -1.3
ICPY Tweedy, Browne International Insider Value ETF 1.1 80 -27 21.0 +12.5
ESGD iShares ESG Aware MSCI EAFE ETF 1.0 20 33 5.7 -2.8
FLEE Franklin FTSE Europe ETF 1.0 9 44 6.2 -2.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.0 46 7 5.3 -3.2
PICK iShares MSCI Global Metals & Mining Producers ETF 0.9 39 14 7.8 -0.7
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.9 61 -8 -0.7 -9.2
EUFN iShares MSCI Europe Financials ETF 0.9 51 2 6.9 -1.6
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.9 30 23 6.1 -2.4
ERTH Invesco MSCI Sustainable Future ETF 0.9 62 -9 3.0 -5.5
BLES Inspire Global Hope ETF 0.9 61 -8 5.7 -2.8
IEV iShares Europe ETF 0.9 67 -14 5.8 -2.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.9 25 28 6.1 -2.5
EFV iShares MSCI EAFE Value ETF 0.8 34 19 7.7 -0.8
BCOR Grayscale Bitcoin Adopters ETF 0.8 59 -6 1.9 -6.6
DFIV Dimensional International Value ETF 0.8 27 26 7.7 -0.8
JSTC Adasina Social Justice All Cap Global ETF 0.8 89 -36 4.2 -4.3
IEFA iShares Core MSCI EAFE ETF 0.8 7 46 6.0 -2.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.8 35 18 5.5 -3.0
DXIV Dimensional International Vector Equity ETF 0.8 34 19 6.5 -2.0
MXI iShares Global Materials ETF 0.8 41 12 5.9 -2.6
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 0.8 65 -12 3.8 -4.7
DIHP Dimensional International High Profitability ETF 0.8 29 24 5.6 -2.9
IQSI IQ Candriam International Equity ETF 0.8 15 38 5.5 -3.0
AVSD Avantis Responsible International Equity ETF 0.8 23 30 5.8 -2.7
GSID Goldman Sachs MarketBeta International Equity ETF 0.8 20 33 5.7 -2.8
DISV Dimensional International Small Cap Value ETF 0.8 42 11 8.1 -0.4
COPY Tweedy, Browne Insider + Value ETF 0.8 80 -27 14.7 +6.2
IVLU iShares MSCI Intl Value Factor ETF 0.8 30 23 8.0 -0.5
SHPP Pacer Industrials and Logistics ETF 0.7 60 -7 6.8 -1.7
DFAI Dimensional International Core Equity Market ETF 0.7 18 35 5.9 -2.6
DFIC Dimensional International Core Equity 2 ETF 0.7 23 30 6.1 -2.4
WSML iShares MSCI World Small-Cap ETF 0.7 15 38 5.2 -3.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 8 6.5 -2.0
DFIS Dimensional International Small Cap ETF 0.7 39 14 6.1 -2.4
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 49 6.0 -2.6
BKIE BNY Mellon International Equity ETF 0.7 4 49 5.8 -2.7
VYMI Vanguard International High Dividend Yield ETF 0.7 17 36 8.0 -0.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.7 58 -5 6.3 -2.3
IVSI Applied Finance IVS International Large ETF 0.7 65 -12 5.8 -2.7
RFDI First Trust Riverfront Dynamic Developed International ETF 0.7 83 -30 7.5 -1.0
PBD Invesco Global Clean Energy ETF 0.7 75 -22 0.2 -8.3
TAN Invesco Solar ETF 0.7 67 -14 4.1 -4.4
RNRG Global X Renewable Energy Producers ETF 0.7 66 -13 4.5 -4.0
EFRA iShares Environmental Infrastructure and Industrials ETF 0.7 47 6 5.0 -3.5
DFSI Dimensional International Sustainability Core 1 ETF 0.7 24 29 5.5 -3.0
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 30 7.3 -1.2
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 50 5.6 -2.9
VEA Vanguard FTSE Developed Markets ETF 0.6 3 50 5.7 -2.8
FRNW Fidelity Clean Energy ETF 0.6 39 14 1.8 -6.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.6 36 17 5.1 -3.4
DTAN Sparkline International Intangible Value ETF 0.6 55 -2 7.2 -1.3
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 33 5.3 -3.2
EFA iShares MSCI EAFE ETF 0.6 35 18 5.7 -2.9
HEFA iShares Currency Hedged MSCI EAFE ETF 0.6 35 18 5.5 -3.0
ROBO ROBO Global Robotics & Automation Index ETF 0.6 95 -42 2.2 -6.3
DTEC ALPS Disruptive Technologies ETF 0.6 50 3 3.7 -4.8
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.6 65 -12 1.4 -7.1
IBOT Vaneck Robotics ETF 0.6 47 6 3.0 -5.5
BOTZ Global X Robotics & Artificial Intelligence ETF 0.6 69 -16 1.8 -6.7
AVDE Avantis International Equity ETF 0.6 23 30 6.2 -2.4
AVIV Avantis International Large Cap Value ETF 0.6 25 28 6.9 -1.6
DMXF iShares ESG Advanced MSCI EAFE ETF 0.5 12 41 4.7 -3.8
IMTM iShares MSCI Intl Momentum Factor ETF 0.5 30 23 4.5 -4.0
OCEN IQ Clean Oceans ETF 0.5 45 8 4.6 -3.9
IDMO Invesco S&P International Developed Momentum ETF 0.5 25 28 5.0 -3.5
JHMD John Hancock Multifactor Developed International ETF 0.5 39 14 6.1 -2.5
GLOF iShares Global Equity Factor ETF 0.5 20 33 5.5 -3.0
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 46 6.4 -2.2
KXI iShares Global Consumer Staples ETF 0.5 41 12 5.4 -3.1
SCHF Schwab International Equity ETF 0.5 6 47 5.7 -2.8
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.5 18 35 6.1 -2.4
VXUS Vanguard Total International Stock ETF 0.5 5 48 6.4 -2.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.4 20 33 4.6 -3.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 23 6.1 -2.4
IDHQ Invesco S&P International Developed High Quality ETF 0.4 29 24 4.9 -3.6
FDRR Fidelity Dividend ETF for Rising Rates 0.4 15 38 5.8 -2.7
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.4 20 33 5.5 -3.0
FRGN Horizon International Equity ETF 0.4 75 -22 7.4 -1.1
VSGX Vanguard ESG International Stock ETF 0.4 10 43 6.3 -2.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 12 5.7 -2.8
NXTG First Trust Indxx NextG ETF 0.4 70 -17 3.3 -5.2
AIRL Themes Airlines ETF 0.4 35 18 1.6 -6.9
JETS U.S. Global Jets ETF 0.4 60 -7 2.2 -6.3
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 23 6.2 -2.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 41 4.4 -4.1
ACWX iShares MSCI ACWI ex U.S. ETF 0.3 34 19 6.1 -2.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 4 49 6.5 -2.1
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 19 5.0 -3.5
EFG iShares MSCI EAFE Growth ETF 0.3 36 17 3.6 -4.9
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.3 25 28 5.3 -3.2
FENI Fidelity Enhanced International ETF 0.3 28 25 5.7 -2.8
AZTD Aztlan Global Stock Selection DM SMID ETF 0.3 75 -22 4.0 -4.5
IXP iShares Global Comm Services ETF 0.3 42 11 5.8 -2.7
IQLT iShares MSCI Intl Quality Factor ETF 0.2 30 23 5.4 -3.1
ESGG FlexShares STOXX Global ESG Select Index Fund 0.2 42 11 4.0 -4.5
CUT Invesco MSCI Global Timber ETF 0.2 61 -8 8.4 -0.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 44 4.8 -3.8
IQDG WisdomTree International Quality Dividend Growth Fund 0.2 42 11 5.5 -3.0
IXG iShares Global Financials ETF 0.2 42 11 6.1 -2.4
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.2 58 -5 5.1 -3.4
VT Vanguard Total World Stock ETF 0.2 6 47 4.9 -3.6
TTAI FCF International Quality ETF 0.2 59 -6 6.8 -1.7
TOK iShares MSCI Kokusai ETF 0.2 26 27 4.2 -4.3
KNCT Invesco Next Gen Connectivity ETF 0.2 40 13 2.6 -5.9
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 44 4.3 -4.2
AFK VanEck Africa Index ETF 0.1 98 -45 11.1 +2.6
URTH iShares MSCI World ETF 0.1 24 29 4.3 -4.2
ACWI iShares MSCI ACWI ETF 0.1 32 21 4.6 -4.0
IGRO iShares International Dividend Growth ETF 0.1 15 38 6.7 -1.8
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 23 5.2 -3.3
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 43 4.8 -3.7
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 43 8.7 +0.2
IFGL iShares International Developed Real Estate ETF 0.1 48 5 7.5 -1.0
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 41 8.6 +0.1
VIGI Vanguard International Dividend Appreciation ETF 0.0 10 43 6.1 -2.4
ERET iShares Environmentally Aware Real Estate ETF 0.0 30 23 6.9 -1.6
EXI iShares Global Industrials ETF 0.0 42 11 3.5 -5.0
AQLT iShares MSCI Global Quality Factor ETF 0.0 18 35 0.0 -8.5

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 14.1 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 53 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.85 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.