iShares MSCI New Zealand Capped ETF
ALTAR
Score™
3.0% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
35.8x P/Sales
ratio
3.2x
P/BV
ratio
2.7x Div.
yield
2.3%


  • 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) $149
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 26
Wgt avg mkt cap (mns) $6,133
Large cap (>$10bn) 24.0%
Mid cap ($2-10bn) 55.0%
Small cap (<$2bn) 21.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FISHER & PAYKEL HEALTHCARE C 21.3 %
A2 MILK COMPANY LTD. 15.9 %
SPARK NEW ZEALAND LIMITED 9.0 %
AUCKLAND INTL AIRPORT LTD 4.6 %
RYMAN HEALTHCARE LTD 4.3 %
MERIDIAN ENERGY LTD 4.1 %
CONTACT ENERGY LTD 3.9 %
MIGHTY RIVER POWER 3.7 %
INFRATIL LTD 3.5 %
FLETCHER BUILDING LTD 3.2 %
Total 73.4 %

TOP COUNTRY EXPOSURE
NEW ZEALAND 89.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.2% 9.0% 14.3% -- 12.6%

Market Correlations
versus... Beta R-squared
S&P500 0.82 61%
MSCI EAFE 0.89 63%
MSCI Emg. Mkts. 0.73 67%

Technical Indicators
Recent close $57.12
30d moving avg. $54.84
Annualized volatility 17.7%
Short interest (ETF) 5.8%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 53
Turnover 2.0%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $490

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares MSCI New Zealand Capped 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™: 3.0%


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 Index ETF 9.4 65 -15 4.6 +1.6
ICLN iShares Global Clean Energy ETF 7.5 46 4 3.0 +0.0
SCIX Global X Scientific Beta Asia ex-Japan ETF 7.2 38 12 6.8 +3.8
OLD The Long-Term Care ETF 4.2 30 20 6.7 +3.7
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 3.8 80 -30 8.0 +5.0
PIZ Invesco DWA Developed Markets Momentum ETF 3.3 81 -31 4.2 +1.2
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 3.0 19 31 7.0 +4.0
PBD Invesco Global Clean Energy ETF 3.0 75 -25 1.6 -1.4
EPP iShares MSCI Pacific ex-Japan ETF 2.8 48 2 6.6 +3.6
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 2.6 83 -33 5.4 +2.4
IGF iShares Global Infrastructure ETF 2.4 46 4 5.5 +2.5
GII SPDR S&P Global Infrastructure ETF 2.3 40 10 5.5 +2.5
DVYA iShares Asia/Pacific Dividend ETF 2.1 49 1 13.4 +10.4
MVIN Natixis Seeyond International Minimum Volatility ETF 2.1 56 -6 5.4 +2.4
EFAS Global X MSCI SuperDividend EAFE ETF 1.9 56 -6 10.0 +7.0
IDV iShares International Select Dividend ETF 1.8 49 1 10.3 +7.3
GUNR Flexshares Morningstar Global Upstream Natural Resources 1.7 46 4 5.9 +2.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 1.6 24 26 7.3 +4.3
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.6 50 0 6.1 +3.1
DWMF WisdomTree International Multifactor Fund 1.4 38 12 6.8 +3.8
LVIN Hartford Multifactor Low Volatility International Equity ETF 1.3 29 21 12.3 +9.3
DIM WisdomTree International MidCap Dividend Fund 1.3 58 -8 7.8 +4.8
FDEV Fidelity Targeted International Factor ETF 1.1 39 11 6.6 +3.6
RFDI First Trust Riverfront Dynamic Developed International ETF 1.0 83 -33 5.7 +2.7
IPAC iShares Core MSCI Pacific ETF 1.0 9 41 7.4 +4.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 1.0 29 21 7.8 +4.8
IDLV Invesco S&P International Developed Low Volatility ETF 1.0 25 25 6.8 +3.8
UIVM VictoryShares USAA MSCI International Value Momentum ETF 1.0 35 15 8.9 +5.9
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.9 59 -9 11.6 +8.6
GLIF AGFiQ Global Infrastructure ETF 0.9 45 5 5.4 +2.4
INTF iShares Edge MSCI Multifactor Intl ETF 0.9 30 20 8.0 +5.0
JPIN JPMorgan Diversified Return International Equity ETF 0.9 37 13 8.1 +5.1
IDHQ Invesco S&P International Developed Quality ETF 0.9 29 21 5.1 +2.1
VPL Vanguard FTSE Pacific ETF 0.8 8 42 7.8 +4.8
FDT First Trust Developed Markets ex-US Alphadex Fund 0.8 80 -30 7.6 +4.6
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.8 80 -30 5.9 +2.9
DLS WisdomTree International SmallCap Dividend Fund 0.8 58 -8 8.8 +5.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.8 80 -30 10.7 +7.7
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 0.8 35 15 6.9 +3.9
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 0.8 43 7 8.9 +5.9
IDMO Invesco S&P International Developed Momentum ETF 0.8 26 24 4.5 +1.5
SDIV Global X SuperDividend ETF 0.8 59 -9 13.5 +10.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 0.8 45 5 7.3 +4.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 0.8 30 20 4.3 +1.3
ISZE iShares Edge MSCI Intl Size Factor ETF 0.8 30 20 7.5 +4.5
DWX SPDR S&P International Dividend ETF 0.8 45 5 8.1 +5.1
EFAV iShares Edge MSCI Min Vol EAFE ETF 0.7 20 30 5.5 +2.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.7 49 1 6.8 +3.8
SCZ iShares MSCI Eafe Small-Cap ETF 0.7 40 10 7.4 +4.4
TPIF Timothy Plan International ETF 0.7 62 -12 6.4 +3.4
FNDC Schwab Fundamental International Small Co. Index ETF 0.6 39 11 7.5 +4.5
DTH WisdomTree DEFA Equity Income Fund 0.6 58 -8 9.8 +6.8
WPS iShares International Developed Property ETF 0.6 48 2 8.1 +5.1
GWX SPDR S&P International Small Cap ETF 0.6 40 10 6.7 +3.7
GQRE FlexShares Global Quality Real Estate Index Fund 0.6 45 5 7.1 +4.1
IFGL iShares International Developed Real Estate ETF 0.6 48 2 7.7 +4.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.6 58 -8 7.8 +4.8
ISDS Invesco Strategic Developed ex-US Small Company ETF 0.6 35 15 6.9 +3.9
IQLT iShares Edge MSCI Intl Quality Factor ETF 0.5 30 20 6.1 +3.1
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 0.5 10 40 9.3 +6.3
QEFA SPDR MSCI EAFE Quality Mix ETF 0.5 30 20 6.9 +3.9
IQDG WisdomTree International Quality Dividend Growth Fund 0.5 38 12 6.4 +3.4
INFR Legg Mason Global Infrastructure ETF 0.5 40 10 6.2 +3.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.5 46 4 5.5 +2.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.5 25 25 6.7 +3.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.5 58 -8 6.3 +3.3
AVDV Avantis International Small Cap Value ETF 0.5 36 14 7.8 +4.8
KLDW Gavekal Knowledge Leaders Developed World ETF 0.4 75 -25 5.4 +2.4
VNQI Vanguard Global ex-US Real Estate Index Fund 0.4 12 38 10.1 +7.1
NXTG First Trust Indxx NextG ETF 0.4 70 -20 6.1 +3.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.4 29 21 8.8 +5.8
SCHC Schwab International Small-Cap Equity ETF 0.4 11 39 6.9 +3.9
DWM WisdomTree International Equity Fund 0.4 48 2 8.4 +5.4
CIL VictoryShares International Volatility Weighted Index ETF 0.4 45 5 6.8 +3.8
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.4 14 36 7.0 +4.0
BJK VanEck Vectors Gaming ETF 0.4 66 -16 5.6 +2.6
HFXI IQ 50 Percent Hedged FTSE International ETF 0.4 20 30 7.6 +4.6
GSID Goldman Sachs MarketBeta International Equity ETF 0.4 20 30 7.4 +4.4
WLDR Affinity World Leaders Equity ETF 0.4 47 3 9.8 +6.8
IEFA iShares Core MSCI EAFE ETF 0.4 7 43 7.4 +4.4
DRW WisdomTree Global ex-US Real Estate Fund 0.4 58 -8 10.8 +7.8
IDEV iShares Core MSCI International Developed Markets ETF 0.4 5 45 7.3 +4.3
JPGE JPMorgan Diversified Return Global Equity ETF 0.4 29 21 7.5 +4.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.4 20 30 7.1 +4.1
SPDW SPDR Portfolio Developed World ex-US ETF 0.4 4 46 7.3 +4.3
VSGX Vanguard ESG International Stock ETF 0.4 17 33 7.2 +4.2
GRES IQ Global Resources ETF 0.3 77 -27 7.7 +4.7
EFG iShares MSCI EAFE Growth ETF 0.3 40 10 4.6 +1.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 0.3 7 43 7.6 +4.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.3 39 11 6.7 +3.7
LNGR Global X Longevity Thematic ETF 0.3 50 0 3.1 +0.1
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 0.3 30 20 0.0 -3.0
ESGD iShares MSCI EAFE ESG Optimized ETF 0.3 20 30 7.0 +4.0
EFA iShares MSCI EAFE ETF 0.3 32 18 7.1 +4.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.3 35 15 7.0 +4.0
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.3 47 3 6.6 +3.6
VEA Vanguard FTSE Developed Markets ETF 0.3 5 45 7.5 +4.5
SCHF Schwab International Equity ETF 0.3 6 44 7.4 +4.4
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.3 11 39 6.8 +3.8

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 Capped 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 9.2 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 3.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.93 CATEGORY
AVERAGE
1.59
 
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.