iShares MSCI Norway ETF
ALTAR
Score™		 7.5% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 11.8x P/Sales
ratio		 1.2x
P/BV
ratio		 1.6x Div.
yield		 6.1%


  • 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) $29
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 62
Wgt avg mkt cap (mns) $19,680
Large cap (>$10bn) 47.2%
Mid cap ($2-10bn) 36.1%
Small cap (<$2bn) 15.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
STATOILHYDRO ASA 12.6 %
DNB BANK ASA 11.8 %
KONGSBERG GRUPPEN ASA 6.0 %
NORSK HYDRO ASA 5.7 %
MARINE HARVEST 5.2 %
TELENOR ASA 4.7 %
DET NORSKE OLJESELSKAP ASA 4.1 %
ORKLA ASA 3.9 %
YARA INTERNATIONAL ASA 3.0 %
STOREBRAND ASA 3.0 %
Total 60.1 %

TOP COUNTRY EXPOSURE
NORWAY 86.3 %
BERMUDA 3.2 %
BRITAIN 2.4 %
FAROE ISLANDS 1.9 %
DENMARK 0.8 %






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.
-1.4% 9.7% 3.7% 1.6% 2.4%

Market Correlations
versus... Beta R-squared
S&P500 0.98 54%
MSCI EAFE 1.07 66%
MSCI Emg. Mkts. 0.79 35%

Technical Indicators
Recent close $24.18
30d moving avg. $24.37
Annualized volatility 23.2%
Short interest (ETF) 1.3%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.5%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $415

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 237 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™: 7.5%


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 94.6 50 3 7.6 +0.0
EFAS Global X MSCI SuperDividend EAFE ETF 7.7 57 -4 10.3 +2.7
MOO VanEck Agribusiness ETF 7.1 53 0 9.7 +2.2
IDOG ALPS International Sector Dividend Dogs ETF 6.4 50 3 12.8 +5.3
FEP First Trust Europe AlphaDEX Fund 5.6 80 -27 7.8 +0.2
CCNR ALPS CoreCommodity Natural Resources ETF 5.1 39 14 11.0 +3.5
IVEG iShares Emergent Food and AgTech Multisector ETF 5.1 47 6 8.0 +0.5
FIDI Fidelity International High Dividend ETF 4.9 18 35 10.9 +3.4
VEGI iShares MSCI Agriculture Producers ETF 4.8 39 14 9.2 +1.7
CID VictoryShares International High Div Volatility Wtd ETF 4.5 45 8 11.9 +4.4
FYLD Cambria Foreign Shareholder Yield ETF 4.4 59 -6 13.6 +6.1
IEUS iShares MSCI Europe Small-Cap ETF 4.0 42 11 6.4 -1.1
BOAT SonicShares Global Shipping ETF 4.0 69 -16 34.8 +27.3
DFE WisdomTree Europe SmallCap Dividend Fund 3.9 58 -5 10.7 +3.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.8 46 7 9.3 +1.8
VIDI Vident International Equity Strategy ETF 3.5 61 -8 10.2 +2.7
DLS WisdomTree International SmallCap Dividend Fund 3.4 58 -5 8.8 +1.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.4 70 -17 3.5 -4.0
FDD First Trust Stoxx European Select Dividend Index Fund 3.2 58 -5 13.6 +6.1
EQIN Columbia US Equity Income ETF 2.9 35 18 8.3 +0.8
DINT Davis Select International ETF 2.9 55 -2 6.0 -1.5
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.8 80 -27 9.1 +1.5
VWID Virtus WMC International Dividend ETF 2.7 49 4 9.6 +2.0
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 28 6.2 -1.3
FDFF Fidelity Disruptive Finance ETF 2.5 50 3 4.1 -3.4
DWMF WisdomTree International Multifactor Fund 2.5 38 15 7.4 -0.1
IPKW Invesco International BuyBack Achievers ETF 2.5 55 -2 11.0 +3.5
EUDV ProShares MSCI Europe Dividend Growers ETF 2.3 55 -2 5.3 -2.3
DIM WisdomTree International MidCap Dividend Fund 2.2 58 -5 7.7 +0.2
BECO BlackRock Future Climate and Sustainable Economy ETF 2.1 70 -17 11.9 +4.4
DTH WisdomTree International High Dividend Fund 2.1 58 -5 10.1 +2.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.1 49 4 7.0 -0.6
IMOM Alpha Architect International Quantitative Momentum ETF 2.0 49 4 5.7 -1.8
SAGP Strategas Global Policy Opportunities ETF 1.9 65 -12 5.3 -2.3
SCZ iShares MSCI EAFE Small-Cap ETF 1.9 40 13 6.6 -1.0
NUDM Nuveen ESG International Developed Markets Equity ETF 1.9 31 22 6.7 -0.9
SCHC Schwab International Small-Cap Equity ETF 1.9 11 42 6.6 -1.0
DFNL Davis Select Financial ETF 1.9 63 -10 6.6 -0.9
AIVI WisdomTree International AI Enhanced Value Fund 1.8 58 -5 8.5 +1.0
PBD Invesco Global Clean Energy ETF 1.8 75 -22 -5.3 -12.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 1.8 80 -27 10.8 +3.3
AVDV Avantis International Small Cap Value ETF 1.8 36 17 8.1 +0.6
GNR SPDR S&P Global Natural Resources ETF 1.8 40 13 9.7 +2.2
JHID John Hancock International High Dividend ETF 1.8 46 7 11.3 +3.8
TPIF Timothy Plan International ETF 1.7 62 -9 6.8 -0.8
GCOW Pacer Global Cash Cows Dividend ETF 1.7 60 -7 12.5 +5.0
QINT American Century Quality Diversified International ETF 1.7 39 14 7.7 +0.2
DWM WisdomTree International Equity Fund 1.7 48 5 8.0 +0.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 1.6 40 13 7.9 +0.4
RODE Hartford Multifactor Diversified International ETF 1.6 29 24 11.8 +4.2
DMDV AAM S&P Developed Markets High Dividend Value ETF 1.5 39 14 12.1 +4.5
FTRI First Trust Indxx Global Natural Resources Income ETF 1.5 70 -17 9.8 +2.2
IQDE FlexShares International Quality Dividend Defensive Index ET 1.5 47 6 14.8 +7.3
CIL VictoryShares International Volatility Wtd ETF 1.5 45 8 7.0 -0.6
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 1.4 51 2 7.1 -0.4
FNDC Schwab Fundamental International Small Co. Index ETF 1.4 39 14 7.2 -0.3
WWJD Inspire International ETF 1.4 80 -27 7.3 -0.3
HAP VanEck Natural Resources ETF 1.4 50 3 10.0 +2.4
SDG iShares MSCI Global Sustainable Development Goals ETF 1.4 49 4 5.6 -1.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.3 80 -27 3.2 -4.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 24 8.6 +1.1
SEA U.S. Global Sea to Sky Cargo ETF 1.3 60 -7 21.5 +14.0
GDVD R3 Global Dividend Growth ETF 1.3 88 -35 5.5 -2.0
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 3 5.3 -2.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.3 7 46 6.7 -0.9
DOL WisdomTree International LargeCap Dividend Fund 1.3 48 5 7.9 +0.4
IEUR iShares Core MSCI Europe ETF 1.3 11 42 7.1 -0.5
IQIN IQ 500 International ETF 1.3 25 28 9.2 +1.7
KNO AXS Knowledge Leaders ETF 1.3 78 -25 4.9 -2.6
SPEU SPDR Portfolio Europe ETF 1.3 7 46 7.1 -0.5
RFEU First Trust Riverfront Dynamic Europe ETF 1.2 83 -30 11.1 +3.6
AHOY Newday Ocean Health ETF 1.2 75 -22 6.2 -1.4
JPIN J.P. Morgan Diversified Return International Equity ETF 1.2 37 16 8.9 +1.3
NATO Themes Transatlantic Defense ETF 1.2 35 18 3.2 -4.4
IQDF FlexShares International Quality Dividend Index Fund 1.2 47 6 12.9 +5.4
VGK Vanguard FTSE Europe ETF 1.2 11 42 7.1 -0.5
FID First Trust S&P International Dividend Aristocrats ETF 1.2 60 -7 9.0 +1.4
IDV iShares International Select Dividend ETF 1.1 51 2 12.2 +4.7
ESGD iShares ESG Aware MSCI EAFE ETF 1.1 20 33 6.9 -0.6
TEMP JPMorgan Climate Change Solutions ETF 1.1 49 4 5.5 -2.1
CGIE Capital Group International Equity ETF 1.1 54 -1 4.9 -2.6
GWX SPDR S&P International Small Cap ETF 1.1 40 13 6.5 -1.1
EUFN iShares MSCI Europe Financials ETF 1.1 51 2 8.1 +0.6
ERTH Invesco MSCI Sustainable Future ETF 1.1 62 -9 3.6 -3.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 1.0 14 39 6.2 -1.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.0 80 -27 5.6 -1.9
FILL iShares MSCI Global Energy Producers ETF 1.0 39 14 9.6 +2.1
EFV iShares MSCI EAFE Value ETF 1.0 34 19 9.4 +1.9
SYNB Putnam BioRevolution ETF 1.0 70 -17 3.0 -4.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.0 39 14 7.4 -0.1
BBEU JPMorgan BetaBuilders Europe ETF 1.0 9 44 7.1 -0.4
INTF iShares International Equity Factor ETF 0.9 15 38 8.2 +0.6
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.9 58 -5 6.4 -1.2
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.9 24 29 8.7 +1.1
FDEV Fidelity International Multifactor ETF 0.9 18 35 7.8 +0.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.9 58 -5 6.5 -1.0
IQDG WisdomTree International Quality Dividend Growth Fund 0.9 42 11 6.8 -0.8
IXC iShares Global Energy ETF 0.9 44 9 8.7 +1.2
DWX SPDR S&P International Dividend ETF 0.9 45 8 6.5 -1.1
QTUM Defiance Quantum ETF 0.9 40 13 3.6 -3.9
PICK iShares MSCI Global Metals & Mining Producers ETF 0.9 39 14 12.8 +5.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.9 39 14 7.5 +0.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.9 25 28 7.2 -0.4
IEV iShares Europe ETF 0.9 67 -14 6.6 -0.9
WDIV SPDR S&P Global Dividend ETF 0.9 40 13 9.4 +1.8
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.8 46 7 6.5 -1.1
FLEE Franklin FTSE Europe ETF 0.8 9 44 7.2 -0.4
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.8 20 33 6.9 -0.6
FRNW Fidelity Clean Energy ETF 0.8 39 14 2.6 -5.0
FAN First Trust Global Wind Energy ETF 0.8 60 -7 5.5 -2.0
WNDY Global X Wind Energy ETF 0.8 50 3 6.1 -1.5
SDIV Global X Superdividend ETF 0.8 58 -5 14.9 +7.4
IDHQ Invesco S&P International Developed High Quality ETF 0.8 29 24 6.5 -1.1
IEFA iShares Core MSCI EAFE ETF 0.8 7 46 7.1 -0.4
LVHI Franklin International Low Volatility High Dividend Index ET 0.8 40 13 10.1 +2.6
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.8 47 6 8.0 +0.4
DIVI Franklin International Core Dividend Tilt Index ETF 0.8 9 44 8.1 +0.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.8 45 8 8.9 +1.4
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.8 12 41 5.9 -1.7
AVSD Avantis Responsible International Equity ETF 0.8 23 30 7.1 -0.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.8 35 18 6.6 -0.9
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 0.7 61 -8 1.2 -6.3
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.7 61 -8 -2.4 -9.9
SNSR Global X Internet of Things ETF 0.7 68 -15 4.6 -2.9
FNDF Schwab Fundamental International Large Co. Index ETF 0.7 25 28 9.9 +2.3
SCHY Schwab International Dividend Equity ETF 0.7 14 39 9.3 +1.8
BLES Inspire Global Hope ETF 0.7 61 -8 6.4 -1.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 6 9.4 +1.8
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 49 7.1 -0.4
IDMO Invesco S&P International Developed Momentum ETF 0.7 25 28 5.9 -1.7
DFIV Dimensional International Value ETF 0.7 27 26 10.0 +2.4
VYMI Vanguard International High Dividend Yield ETF 0.7 22 31 9.8 +2.3
AZTD Aztlan Global Stock Selection DM SMID ETF 0.7 75 -22 7.8 +0.2
DMXF iShares ESG Advanced MSCI EAFE ETF 0.7 12 41 5.5 -2.0
GSID Goldman Sachs MarketBeta International Equity ETF 0.7 20 33 7.0 -0.6
DFAI Dimensional International Core Equity Market ETF 0.6 18 35 7.3 -0.2
DISV Dimensional International Small Cap Value ETF 0.6 42 11 9.1 +1.6
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 50 7.2 -0.3
DSTX Distillate International Fundamental Stability & Value ETF 0.6 55 -2 8.0 +0.4
VEA Vanguard FTSE Developed Markets ETF 0.6 5 48 7.3 -0.2
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 23 6.2 -1.3
DIHP Dimensional International High Profitability ETF 0.6 29 24 7.6 +0.1
BKIE BNY Mellon International Equity ETF 0.6 4 49 7.1 -0.5
DFIC Dimensional International Core Equity 2 ETF 0.6 23 30 7.7 +0.2
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 30 9.1 +1.6
EFA iShares MSCI EAFE ETF 0.6 35 18 6.9 -0.6
IQSI IQ Candriam International Equity ETF 0.6 15 38 6.6 -0.9
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.6 25 28 5.6 -1.9
DFSI Dimensional International Sustainability Core 1 ETF 0.6 24 29 6.5 -1.1
RFDI First Trust Riverfront Dynamic Developed International ETF 0.6 83 -30 10.0 +2.4
IVLU iShares MSCI Intl Value Factor ETF 0.6 30 23 11.4 +3.9
WLDR Affinity World Leaders Equity ETF 0.6 67 -14 8.1 +0.6
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.6 9 44 9.9 +2.4
MXI iShares Global Materials ETF 0.6 41 12 7.0 -0.6
FPXI First Trust International Equity Opportunities ETF 0.6 70 -17 4.9 -2.6
HFXI IQ FTSE International Equity Currency Neutral ETF 0.6 20 33 7.1 -0.5
RNRG Global X Renewable Energy Producers ETF 0.5 66 -13 5.5 -2.0
TAN Invesco Solar ETF 0.5 67 -14 10.4 +2.9
TTAI FCF International Quality ETF 0.5 59 -6 5.6 -1.9
NXTG First Trust Indxx NextG ETF 0.5 70 -17 6.2 -1.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.5 36 17 6.6 -1.0
AVDE Avantis International Equity ETF 0.5 23 30 8.1 +0.5
SHPP Pacer Industrials and Logistics ETF 0.5 60 -7 9.9 +2.3
LNGG Roundhill Alerian LNG ETF 0.5 65 -12 9.1 +1.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.5 42 11 8.1 +0.5
DFIS Dimensional International Small Cap ETF 0.5 39 14 6.9 -0.7
SCHF Schwab International Equity ETF 0.5 6 47 7.5 -0.1
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 46 7.2 -0.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.5 20 33 6.5 -1.0
VXUS Vanguard Total International Stock ETF 0.5 7 46 7.2 -0.3
JHMD John Hancock Multifactor Developed International ETF 0.5 39 14 7.8 +0.2
AIRL Themes Airlines ETF 0.5 35 18 -16.7 -24.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.5 25 28 7.2 -0.3
XT iShares Exponential Technologies ETF 0.4 46 7 4.8 -2.8
VSGX Vanguard ESG International Stock ETF 0.4 12 41 6.8 -0.8
DTAN Sparkline International Intangible Value ETF 0.4 55 -2 9.2 +1.6
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.4 30 23 7.3 -0.3
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 23 8.0 +0.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.4 18 35 7.0 -0.5
KXI iShares Global Consumer Staples ETF 0.4 41 12 5.7 -1.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.4 20 33 5.2 -2.4
JETS U.S. Global Jets ETF 0.4 60 -7 -13.3 -20.8
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 23 6.9 -0.6
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 19 7.0 -0.6
CRUZ Defiance Hotel Airline and Cruise ETF 0.4 45 8 -4.6 -12.1
JSTC Adasina Social Justice All Cap Global ETF 0.4 89 -36 4.9 -2.6
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 8 45 7.3 -0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 12 7.4 -0.1
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.3 45 8 -0.6 -8.1
CTEC Global X CleanTech ETF 0.3 50 3 2.9 -4.7
HYDR Global X Hydrogen ETF 0.3 50 3 -15.6 -23.1
IBAT iShares Energy Storage & Materials ETF 0.3 47 6 3.1 -4.4
HDRO Defiance Next Gen H2 ETF 0.3 30 23 -21.5 -29.1
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 19 5.9 -1.7
AVIV Avantis International Large Cap Value ETF 0.3 25 28 9.0 +1.4
IMTM iShares MSCI Intl Momentum Factor ETF 0.3 30 23 6.3 -1.2
ZSB USCF Sustainable Battery Metals Strategy Fund 0.3 61 -8 18.6 +11.1
GLOF iShares Global Equity Factor ETF 0.3 20 33 7.0 -0.5
ICLN iShares Global Clean Energy ETF 0.3 41 12 6.0 -1.6
DEW WisdomTree Global High Dividend Fund 0.3 58 -5 8.5 +1.0
FENI Fidelity Enhanced International ETF 0.3 28 25 8.1 +0.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.2 12 41 4.8 -2.8
OCEN IQ Clean Oceans ETF 0.2 45 8 6.1 -1.5
SMCF Themes US Small Cap Cash Flow Champions ETF 0.2 29 24 10.2 +2.6
EFG iShares MSCI EAFE Growth ETF 0.2 36 17 4.5 -3.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 44 5.4 -2.2
ESGG FlexShares STOXX Global ESG Select Index Fund 0.2 42 11 5.1 -2.4
IXP iShares Global Comm Services ETF 0.2 42 11 5.1 -2.5
VT Vanguard Total World Stock ETF 0.2 7 46 5.5 -2.0
IXG iShares Global Financials ETF 0.2 42 11 6.2 -1.4
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 43 5.4 -2.1
SMOG VanEck Low Carbon Energy ETF 0.1 61 -8 2.4 -5.2
TOK iShares MSCI Kokusai ETF 0.1 26 27 5.0 -2.5
ERNZ TrueShares Active Yield ETF 0.1 75 -22 10.9 +3.4
KNCT Invesco Next Gen Connectivity ETF 0.1 40 13 5.6 -2.0
URTH iShares MSCI World ETF 0.1 24 29 5.2 -2.4
VFVA Vanguard U.S. Value Factor ETF 0.1 13 40 10.0 +2.5
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 44 5.2 -2.3
EXI iShares Global Industrials ETF 0.1 42 11 4.5 -3.0
AFK VanEck Africa Index ETF 0.1 98 -45 9.1 +1.5
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.1 22 31 6.6 -1.0
ACWI iShares MSCI ACWI ETF 0.1 32 21 5.3 -2.3
IFGL iShares International Developed Real Estate ETF 0.1 48 5 6.9 -0.6
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 23 5.9 -1.6
GSFP Goldman Sachs Future Planet Equity ETF 0.1 75 -22 4.2 -3.3
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.1 35 18 6.6 -1.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 43 7.7 +0.1
BIGFX Baron International Growth Retail 0.1 75 -22 3.1 -4.4
VFMO Vanguard U.S. Momentum Factor ETF 0.1 13 40 2.1 -5.4
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 41 8.3 +0.7
IGRO iShares International Dividend Growth ETF 0.1 15 38 7.5 +0.0
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.1 29 24 6.5 -1.0
RSSL Global X Russell 2000 ETF 0.1 8 45 2.6 -4.9
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.1 39 14 5.8 -1.8
ERET iShares Environmentally Aware Real Estate ETF 0.1 30 23 6.5 -1.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 33 4.6 -3.0
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 32 3.8 -3.7

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 53 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.71 CATEGORY
AVERAGE		 1.60
 
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.