iShares MSCI New Zealand ETF
ALTAR
Score™		 3.6% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 27.7x P/Sales
ratio		 2.0x
P/BV
ratio		 2.0x Div.
yield		 3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI New Zealand Investable Market Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the MSCI New Zealand Investable Market Index.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Sep 01, 2010
Assets (mns) $73
Currency USD
Expense ratio 50 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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $3,396
Large cap (>$10bn) 22.5%
Mid cap ($2-10bn) 49.2%
Small cap (<$2bn) 28.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INVESCO DORSEY WRIGHT FINANCIAL MO 42.6 %
FISHER & PAYKEL HEALTHCARE C 12.9 %
AUCKLAND INTL AIRPORT LTD 7.7 %
INFRATIL LTD 5.8 %
EBOS GROUP LIMITED 3.1 %
SPARK NEW ZEALAND LIMITED 2.9 %
MIGHTY RIVER POWER 2.6 %
CONTACT ENERGY LTD 2.6 %
MERIDIAN ENERGY LTD 2.6 %
FLETCHER BUILDING LTD 2.4 %
Total 85.2 %

TOP COUNTRY EXPOSURE
NEW ZEALAND 54.9 %










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.
-1.7% -4.1% -1.0% 4.6% 7.4%

Market Correlations
versus... Beta R-squared
S&P500 0.94 63%
MSCI EAFE 0.95 68%
MSCI Emg. Mkts. 0.85 53%

Technical Indicators
Recent close $45.37
30d moving avg. $45.15
Annualized volatility 20.0%
Short interest (ETF) 0.6%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.4%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $38

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 127 potential alternatives to the iShares MSCI New Zealand ETF ETF based on the alternatives' overlap in portfolio holdings with ENZL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ENZL Expense: 50 bp ALTAR Score™: 3.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ENZL
Ticker Fund
Name		 Overlap1
vs ENZL
(%)		 Expense
ratio
(bp)		 Savings
vs ENZL
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ENZL
(%)
RNRG Global X Renewable Energy Producers ETF 7.8 66 -16 5.8 +2.2
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 4.7 75 -25 7.9 +4.2
FRNW Fidelity Clean Energy ETF 4.5 39 11 4.2 +0.5
GII SPDR S&P Global Infrastructure ETF 3.3 40 10 4.8 +1.1
IGF iShares Global Infrastructure ETF 3.1 41 9 4.8 +1.2
SMOG VanEck Low Carbon Energy ETF 3.0 61 -11 1.6 -2.0
DVYA iShares Asia/Pacific Dividend ETF 2.9 49 1 8.6 +4.9
MDEV First Trust Indxx Medical Devices ETF 2.0 70 -20 4.4 +0.7
FGD First Trust Dow Jones Global Select Dividend Index Fund 2.0 56 -6 11.2 +7.6
EPP iShares MSCI Pacific ex-Japan ETF 1.8 47 3 5.5 +1.8
IQRA IQ CBRE Real Assets ETF 1.3 65 -15 5.8 +2.2
ICLN iShares Global Clean Energy ETF 1.2 41 9 6.0 +2.4
IDV iShares International Select Dividend ETF 1.0 51 -1 11.2 +7.6
SDIV Global X Superdividend ETF 1.0 58 -8 41.6 +37.9
IWTR iShares MSCI Water Management Multisector ETF 1.0 47 3 5.7 +2.1
MOTG VanEck Morningstar Global Wide Moat ETF 1.0 52 -2 6.7 +3.1
PBD Invesco Global Clean Energy ETF 0.9 75 -25 0.6 -3.0
KNO AXS Knowledge Leaders ETF 0.8 78 -28 6.0 +2.4
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.7 19 31 6.1 +2.5
IPAC iShares Core MSCI Pacific ETF 0.7 9 41 6.7 +3.1
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.7 24 26 7.6 +3.9
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.6 46 4 5.6 +2.0
VPL Vanguard FTSE Pacific ETF 0.6 7 43 7.1 +3.5
FTRI First Trust Indxx Global Natural Resources Income ETF 0.6 70 -20 8.3 +4.7
DWX SPDR S&P International Dividend ETF 0.6 45 5 6.2 +2.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.6 80 -30 9.9 +6.3
IFGL iShares International Developed Real Estate ETF 0.6 48 2 7.1 +3.5
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.6 22 28 5.7 +2.1
HAP VanEck Natural Resources ETF 0.5 50 0 9.9 +6.2
ISCF iShares International SmallCap Equity Factor ETF 0.5 23 27 8.4 +4.8
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.5 35 15 6.8 +3.1
FNDC Schwab Fundamental International Small Co. Index ETF 0.5 39 11 5.9 +2.3
FDEV Fidelity International Multifactor ETF 0.5 18 32 7.4 +3.8
SCZ iShares MSCI EAFE Small-Cap ETF 0.5 40 10 7.0 +3.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.5 49 1 7.0 +3.4
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.5 80 -30 5.6 +1.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.4 10 40 8.2 +4.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.4 47 3 5.8 +2.2
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.4 12 38 6.1 +2.5
DMXF iShares ESG Advanced MSCI EAFE ETF 0.4 12 38 5.5 +1.9
VIGI Vanguard International Dividend Appreciation ETF 0.4 10 40 6.1 +2.5
VGSR Vert Global Sustainable Real Estate ETF 0.3 47 3 7.4 +3.8
NUDM Nuveen ESG International Developed Markets Equity ETF 0.3 31 19 6.3 +2.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.3 29 21 8.0 +4.4
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 16 5.9 +2.3
DFGR Dimensional Global Real Estate ETF 0.3 22 28 7.6 +3.9
INTF iShares International Equity Factor ETF 0.3 15 35 7.9 +4.2
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.3 30 20 7.1 +3.4
AGNG Global X Aging Population ETF 0.3 50 0 4.9 +1.2
SCHY Schwab International Dividend Equity ETF 0.2 14 36 9.7 +6.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.2 39 11 8.2 +4.6
AVDV Avantis International Small Cap Value ETF 0.2 36 14 10.2 +6.6
IQSI IQ Candriam International Equity ETF 0.2 15 35 6.6 +3.0
IEFA iShares Core MSCI EAFE ETF 0.2 7 43 7.2 +3.5
VEA Vanguard FTSE Developed Markets ETF 0.2 3 47 7.3 +3.7
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 15 4.9 +1.3
SCHF Schwab International Equity ETF 0.2 6 44 7.4 +3.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.2 20 30 6.5 +2.8
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 46 7.2 +3.6
RODE Hartford Multifactor Diversified International ETF 0.2 29 21 12.7 +9.0
EFG iShares MSCI EAFE Growth ETF 0.2 36 14 4.3 +0.7
RITA ETFB Green SRI REITs ETF 0.2 50 0 6.5 +2.9
REET iShares Global REIT ETF 0.2 14 36 7.7 +4.1
ERET iShares Environmentally Aware Real Estate ETF 0.2 30 20 7.5 +3.9
EFA iShares MSCI EAFE ETF 0.2 35 15 6.9 +3.2
VSGX Vanguard ESG International Stock ETF 0.2 10 40 7.9 +4.3
SCHC Schwab International Small-Cap Equity ETF 0.2 11 39 6.8 +3.2
DFIV Dimensional International Value ETF 0.2 27 23 10.1 +6.5
DFAI Dimensional International Core Equity Market ETF 0.2 18 32 7.3 +3.7
AVRE Avantis Real Estate ETF 0.2 17 33 7.2 +3.6
IDMO Invesco S&P International Developed Momentum ETF 0.2 25 25 5.4 +1.7
DIVI Franklin International Core Dividend Tilt Index ETF 0.2 9 41 8.1 +4.5
EFV iShares MSCI EAFE Value ETF 0.2 34 16 9.4 +5.7
ESGD iShares ESG Aware MSCI EAFE ETF 0.2 20 30 6.9 +3.3
DFSI Dimensional International Sustainability Core 1 ETF 0.2 24 26 6.4 +2.8
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 -33 9.7 +6.1
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 47 7.2 +3.6
VXUS Vanguard Total International Stock ETF 0.2 5 45 8.1 +4.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 46 8.2 +4.6
AVDS Avantis International Small Cap Equity ETF 0.2 30 20 7.6 +4.0
GWX SPDR S&P International Small Cap ETF 0.1 40 10 6.3 +2.7
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 43 8.0 +4.4
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 30 7.0 +3.4
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 30 7.2 +3.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 42 6.9 +3.3
DXIV Dimensional International Vector Equity ETF 0.1 34 16 8.0 +4.4
DIHP Dimensional International High Profitability ETF 0.1 29 21 7.2 +3.6
DFIC Dimensional International Core Equity 2 ETF 0.1 23 27 7.6 +4.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 14 6.9 +3.3
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 16 7.9 +4.2
BKIE BNY Mellon International Equity ETF 0.1 4 46 7.0 +3.4
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 38 8.0 +4.4
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.1 20 30 6.7 +3.0
FENI Fidelity Enhanced International ETF 0.1 28 22 6.7 +3.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 30 5.9 +2.3
DFIS Dimensional International Small Cap ETF 0.1 39 11 7.4 +3.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 20 8.2 +4.5
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 40 5.9 +2.3
DISV Dimensional International Small Cap Value ETF 0.1 42 8 9.6 +6.0
VYMI Vanguard International High Dividend Yield ETF 0.1 17 33 9.9 +6.3
AVIV Avantis International Large Cap Value ETF 0.1 25 25 9.0 +5.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.1 14 36 6.3 +2.7
AVSD Avantis Responsible International Equity ETF 0.1 23 27 5.7 +2.1
AVDE Avantis International Equity ETF 0.1 23 27 7.6 +4.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 32 7.7 +4.0
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.1 25 25 6.0 +2.4
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 20 7.8 +4.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 38 5.3 +1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 9 7.8 +4.1
JHMD John Hancock Multifactor Developed International ETF 0.1 39 11 7.7 +4.0
GLOF iShares Global Equity Factor ETF 0.1 20 30 6.8 +3.2
IMTM iShares MSCI Intl Momentum Factor ETF 0.1 30 20 5.4 +1.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.1 39 11 6.7 +3.1
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 20 6.1 +2.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 30 5.8 +2.2
VT Vanguard Total World Stock ETF 0.1 6 44 6.0 +2.4
FNDF Schwab Fundamental International Large Co. Index ETF 0.1 25 25 9.7 +6.0
JPIN J.P. Morgan Diversified Return International Equity ETF 0.1 37 13 8.6 +5.0
ESGG FlexShares STOXX Global ESG Select Index Fund 0.1 42 8 5.5 +1.9
TOK iShares MSCI Kokusai ETF 0.0 26 24 5.2 +1.6
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -39 4.8 +1.2
URTH iShares MSCI World ETF 0.0 24 26 5.3 +1.6
ACWI iShares MSCI ACWI ETF 0.0 32 18 5.7 +2.1
KOKU Xtrackers MSCI Kokusai Equity ETF 0.0 9 41 5.3 +1.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 5 9.0 +5.3
IQLT iShares MSCI Intl Quality Factor ETF 0.0 30 20 6.2 +2.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 41 5.9 +2.3

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

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.2 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 3.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.74 CATEGORY
AVERAGE		 1.62
 
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.