iShares MSCI New Zealand
ALTAR
Score™
3.3% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
26.6x P/Sales
ratio
2.5x
P/BV
ratio
2.3x Div.
yield
3.1%


  • 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) $181
Currency USD
Expense ratio 47 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 28
Wgt avg mkt cap (mns) $4,149
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 77.9%
Small cap (<$2bn) 22.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FISHER & PAYKEL HEALTHCARE C 13.7 %
A2 MILK COMPANY LTD. 10.7 %
AUCKLAND INTL AIRPORT LTD 10.0 %
SPARK NEW ZEALAND LIMITED 9.4 %
FLETCHER BUILDING LTD 5.2 %
RYMAN HEALTHCARE LTD 4.9 %
MERIDIAN ENERGY LTD 4.3 %
MIGHTY RIVER POWER 4.2 %
INFRATIL LTD 3.9 %
CONTACT ENERGY LTD 3.7 %
Total 69.9 %

TOP COUNTRY EXPOSURE
NEW ZEALAND 89.5 %










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.
15.7% 19.6% 10.1% -- 12.3%

Market Correlations
versus... Beta R-squared
S&P500 0.57 29%
MSCI EAFE 0.59 26%
MSCI Emg. Mkts. 0.57 39%

Technical Indicators
Recent close $53.18
30d moving avg. $52.82
Annualized volatility 12.8%
Short interest (ETF) 2.2%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 34
Turnover 1.0%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $74

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI New Zealand 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: 47 bp ALTAR Score™: 3.3%


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
(%)
YLCO Global X YieldCo & Renewable Energy Income 8.7 65 -18 4.9 +1.6
DWCR Arrow DWA Country Rotation 8.7 134 -87 4.9 +1.6
ICLN iShares S&P Global Clean Energy 7.9 46 1 4.0 +0.7
SCIX Global X Scientific Beta Asia ex-Japan 7.3 38 9 6.2 +2.9
DVYA iShares Asia/Pacific Dividend 30 7.1 49 -2 8.3 +5.0
PIZ Invesco DWA Dev. Mkts. Technical Leaders 5.1 80 -33 4.2 +0.9
IMOM MomentumShares Int'l Quantitative Momentum 3.8 59 -12 4.8 +1.5
OLD Long-Term Care 3.8 35 12 4.9 +1.6
IDHD Invesco S&P Intl Developed High Div Low Volatility 3.2 30 17 6.4 +3.1
FPA First Trust Asia Pac Ex-Japan AlphaDEX 3.1 80 -33 8.7 +5.4
PBD Invesco Gbl Clean Energy 2.6 75 -28 -1.5 -4.8
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan 2.3 19 28 6.5 +3.2
EFAS Global X MSCI SuperDividend EAFE 2.2 55 -8 8.4 +5.1
IDV iShares DJ Int'l Select Dividend 2.1 49 -2 8.5 +5.2
GII SPDR FTSE/Macquarie Global Infrastructure 2.0 40 7 4.9 +1.6
EPP iShares MSCI Pacific ex-Japan 2.0 48 -1 6.3 +3.0
IGF iShares S&P Global Infrastructure 2.0 46 1 4.8 +1.5
EFAD ProShares EAFE Dividend Growers 1.9 50 -3 6.2 +2.9
MVIN Natixis Seeyond International Minimum Volatility 1.8 55 -8 6.2 +2.9
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 1.4 24 23 7.0 +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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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
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 8.6 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 3.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
2.13 CATEGORY
AVERAGE
1.63
 
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.