iShares MSCI New Zealand ETF
ALTAR
Score™		 3.7% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 23.4x P/Sales
ratio		 1.8x
P/BV
ratio		 1.5x Div.
yield		 3.6%


  • 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) $85
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 24
Wgt avg mkt cap (mns) $3,116
Large cap (>$10bn) 21.8%
Mid cap ($2-10bn) 46.9%
Small cap (<$2bn) 31.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INVESCO DORSEY WRIGHT FINANCIAL MO 45.1 %
FISHER & PAYKEL HEALTHCARE C 11.9 %
INFRATIL LTD 6.2 %
AUCKLAND INTL AIRPORT LTD 5.7 %
SPARK NEW ZEALAND LIMITED 2.9 %
MIGHTY RIVER POWER 2.5 %
EBOS GROUP LIMITED 2.5 %
CONTACT ENERGY LTD 2.4 %
FLETCHER BUILDING LTD 2.3 %
MERIDIAN ENERGY LTD 2.3 %
Total 83.8 %

TOP COUNTRY EXPOSURE
NEW ZEALAND 52.8 %










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.
-2.9% 15.4% 0.0% 4.9% 7.8%

Market Correlations
versus... Beta R-squared
S&P500 0.98 62%
MSCI EAFE 1.10 81%
MSCI Emg. Mkts. 0.93 57%

Technical Indicators
Recent close $47.10
30d moving avg. $48.75
Annualized volatility 21.6%
Short interest (ETF) 0.4%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.6%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $37

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 126 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™: 3.7%


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 7.2 66 -16 5.5 +1.9
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 4.6 75 -25 7.9 +4.3
FRNW Fidelity Clean Energy ETF 4.4 39 11 2.6 -1.1
IGF iShares Global Infrastructure ETF 2.9 41 9 4.3 +0.6
GII SPDR S&P Global Infrastructure ETF 2.9 40 10 4.3 +0.7
SMOG VanEck Low Carbon Energy ETF 2.9 61 -11 2.4 -1.3
MDEV First Trust Indxx Medical Devices ETF 2.1 70 -20 4.3 +0.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 1.7 80 -30 7.6 +3.9
KDIV KraneShares S&P Pan Asia Dividend Aristocrats Index ETF 1.6 68 -18 8.2 +4.6
EPP iShares MSCI Pacific ex-Japan ETF 1.6 47 3 4.9 +1.3
EFAS Global X MSCI SuperDividend EAFE ETF 1.4 57 -7 10.3 +6.6
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.4 50 0 5.3 +1.7
IDLV Invesco S&P International Developed Low Volatility ETF 1.3 25 25 6.2 +2.6
DVYA iShares Asia/Pacific Dividend ETF 1.1 49 1 9.0 +5.3
IQRA IQ CBRE Real Assets ETF 1.0 65 -15 5.2 +1.5
PBD Invesco Global Clean Energy ETF 1.0 75 -25 -5.3 -8.9
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 1.0 19 31 5.4 +1.7
ICLN iShares Global Clean Energy ETF 1.0 41 9 6.0 +2.3
IWTR iShares MSCI Water Management Multisector ETF 0.8 47 3 5.0 +1.4
SCZ iShares MSCI EAFE Small-Cap ETF 0.8 40 10 6.6 +2.9
IPAC iShares Core MSCI Pacific ETF 0.7 9 41 7.2 +3.6
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.7 35 15 6.6 +3.0
IFGL iShares International Developed Real Estate ETF 0.7 48 2 6.9 +3.3
VPL Vanguard FTSE Pacific ETF 0.7 8 42 7.7 +4.1
FNDC Schwab Fundamental International Small Co. Index ETF 0.5 39 11 7.2 +3.6
ISCF iShares International SmallCap Equity Factor ETF 0.5 23 27 9.1 +5.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.5 49 1 7.0 +3.3
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.5 46 4 4.9 +1.2
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.5 56 -6 13.5 +9.8
HAP VanEck Natural Resources ETF 0.5 50 0 10.0 +6.3
IDV iShares International Select Dividend ETF 0.5 51 -1 12.2 +8.6
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.5 24 26 8.7 +5.0
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.4 22 28 6.6 +2.9
DWX SPDR S&P International Dividend ETF 0.4 45 5 6.5 +2.8
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.4 10 40 7.7 +4.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.4 12 38 5.9 +2.2
NXTG First Trust Indxx NextG ETF 0.4 70 -20 6.2 +2.6
DMXF iShares ESG Advanced MSCI EAFE ETF 0.4 12 38 5.5 +1.9
VIGI Vanguard International Dividend Appreciation ETF 0.4 15 35 6.4 +2.8
DWMF WisdomTree International Multifactor Fund 0.3 38 12 7.4 +3.8
VGSR Vert Global Sustainable Real Estate ETF 0.3 47 3 5.6 +2.0
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.3 47 3 5.5 +1.8
INTF iShares International Equity Factor ETF 0.3 15 35 8.2 +4.5
AGNG Global X Aging Population ETF 0.3 50 0 4.2 +0.6
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 16 5.9 +2.2
AVDV Avantis International Small Cap Value ETF 0.3 36 14 8.1 +4.5
DFGR Dimensional Global Real Estate ETF 0.3 22 28 6.2 +2.6
IEFA iShares Core MSCI EAFE ETF 0.3 7 43 7.1 +3.5
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.3 30 20 7.3 +3.6
SCHY Schwab International Dividend Equity ETF 0.3 14 36 9.3 +5.7
IMTM iShares MSCI Intl Momentum Factor ETF 0.3 30 20 6.3 +2.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.2 80 -30 5.6 +1.9
SCHC Schwab International Small-Cap Equity ETF 0.2 11 39 6.6 +2.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.2 39 11 7.4 +3.8
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 46 7.1 +3.5
VEA Vanguard FTSE Developed Markets ETF 0.2 5 45 7.3 +3.7
SCHF Schwab International Equity ETF 0.2 6 44 7.5 +3.8
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 -33 10.0 +6.3
EFG iShares MSCI EAFE Growth ETF 0.2 36 14 4.5 +0.9
DFSI Dimensional International Sustainability Core 1 ETF 0.2 24 26 6.5 +2.8
ERET iShares Environmentally Aware Real Estate ETF 0.2 30 20 6.5 +2.8
VSGX Vanguard ESG International Stock ETF 0.2 12 38 6.8 +3.1
DFIV Dimensional International Value ETF 0.2 27 23 10.0 +6.3
REET iShares Global REIT ETF 0.2 14 36 6.2 +2.6
DIVI Franklin International Core Dividend Tilt Index ETF 0.2 9 41 8.1 +4.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.2 20 30 6.5 +2.9
DFAI Dimensional International Core Equity Market ETF 0.2 18 32 7.3 +3.6
DIHP Dimensional International High Profitability ETF 0.2 29 21 7.6 +4.0
AVRE Avantis Real Estate ETF 0.2 17 33 5.9 +2.2
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 15 5.1 +1.4
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 47 7.2 +3.5
EFA iShares MSCI EAFE ETF 0.2 35 15 6.9 +3.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 7 43 6.7 +3.0
GWX SPDR S&P International Small Cap ETF 0.2 40 10 6.5 +2.8
VXUS Vanguard Total International Stock ETF 0.2 7 43 7.2 +3.5
IQSI IQ Candriam International Equity ETF 0.2 15 35 6.6 +3.0
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.2 20 30 6.9 +3.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 42 7.3 +3.6
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 43 7.2 +3.5
ESGD iShares ESG Aware MSCI EAFE ETF 0.2 20 30 6.9 +3.3
EFV iShares MSCI EAFE Value ETF 0.2 34 16 9.4 +5.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.2 29 21 8.6 +4.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.2 20 30 7.0 +3.3
FENI Fidelity Enhanced International ETF 0.2 28 22 8.1 +4.4
RITA ETFB Green SRI REITs ETF 0.2 50 0 4.9 +1.3
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 38 8.3 +4.6
BKIE BNY Mellon International Equity ETF 0.1 4 46 7.1 +3.4
DFIC Dimensional International Core Equity 2 ETF 0.1 23 27 7.7 +4.1
DFIS Dimensional International Small Cap ETF 0.1 39 11 6.9 +3.2
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 30 7.1 +3.4
IQLT iShares MSCI Intl Quality Factor ETF 0.1 30 20 6.2 +2.6
VYMI Vanguard International High Dividend Yield ETF 0.1 22 28 9.8 +6.2
DISV Dimensional International Small Cap Value ETF 0.1 42 8 9.1 +5.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 20 8.0 +4.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.1 80 -30 9.1 +5.4
AVSD Avantis Responsible International Equity ETF 0.1 23 27 7.1 +3.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 16 7.0 +3.3
IGRO iShares International Dividend Growth ETF 0.1 15 35 7.5 +3.9
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 20 6.9 +3.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 38 4.8 +1.1
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 40 5.4 +1.8
GLOF iShares Global Equity Factor ETF 0.1 20 30 7.0 +3.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.1 14 36 6.2 +2.5
AVIV Avantis International Large Cap Value ETF 0.1 25 25 9.0 +5.3
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.1 25 25 5.6 +2.0
AVDE Avantis International Equity ETF 0.1 23 27 8.1 +4.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 32 7.0 +3.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 14 6.6 +2.9
JHMD John Hancock Multifactor Developed International ETF 0.1 39 11 7.8 +4.1
NUDM Nuveen ESG International Developed Markets Equity ETF 0.1 31 19 6.7 +3.0
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -39 4.9 +1.3
VT Vanguard Total World Stock ETF 0.1 7 43 5.5 +1.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.1 39 11 7.5 +3.9
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 20 5.9 +2.3
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 30 6.3 +2.7
JPIN J.P. Morgan Diversified Return International Equity ETF 0.1 37 13 8.9 +5.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 9 7.4 +3.8
TOK iShares MSCI Kokusai ETF 0.0 26 24 5.0 +1.4
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 25 9.9 +6.2
URTH iShares MSCI World ETF 0.0 24 26 5.2 +1.5
ACWI iShares MSCI ACWI ETF 0.0 32 18 5.3 +1.6
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 8 5.1 +1.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 41 5.4 +1.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 5 8.9 +5.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.0 25 25 7.2 +3.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.0 9 41 5.2 +1.6

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 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 6.2 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.90 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.