iShares MSCI New Zealand ETF
ALTAR
Score™		 3.4% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 29.0x 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) $70
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) $2,944
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 42.9 %
FISHER & PAYKEL HEALTHCARE C 12.0 %
AUCKLAND INTL AIRPORT LTD 8.5 %
INFRATIL LTD 5.8 %
CONTACT ENERGY LTD 2.7 %
MERIDIAN ENERGY LTD 2.6 %
EBOS GROUP LIMITED 2.5 %
MIGHTY RIVER POWER 2.5 %
FLETCHER BUILDING LTD 2.4 %
SPARK NEW ZEALAND LIMITED 2.1 %
Total 84.1 %

TOP COUNTRY EXPOSURE
NEW ZEALAND 54.5 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.2% -5.2% -2.5% 3.4% 7.2%

Market Correlations
versus... Beta R-squared
S&P500 0.99 68%
MSCI EAFE 1.05 78%
MSCI Emg. Mkts. 0.90 58%

Technical Indicators
Recent close $42.67
30d moving avg. $42.87
Annualized volatility 20.6%
Short interest (ETF) 0.6%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.6%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $38

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 124 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™: 3.4%


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 6.1 +2.7
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 4.7 75 -25 7.3 +3.9
FRNW Fidelity Clean Energy ETF 4.5 39 11 4.2 +0.8
IGF iShares Global Infrastructure ETF 3.2 41 9 4.9 +1.5
GII SPDR S&P Global Infrastructure ETF 3.1 40 10 4.9 +1.5
SMOG VanEck Low Carbon Energy ETF 2.9 61 -11 1.5 -1.9
MDEV First Trust Indxx Medical Devices ETF 1.8 70 -20 1.2 -2.3
EPP iShares MSCI Pacific ex-Japan ETF 1.8 47 3 5.7 +2.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 1.5 80 -30 9.7 +6.3
IQRA IQ CBRE Real Assets ETF 1.3 65 -15 2.7 -0.8
IWTR iShares MSCI Water Management Multisector ETF 1.0 47 3 6.5 +3.0
PBD Invesco Global Clean Energy ETF 0.9 75 -25 0.4 -3.0
ICLN iShares Global Clean Energy ETF 0.8 41 9 6.4 +2.9
IDLV Invesco S&P International Developed Low Volatility ETF 0.8 25 25 6.3 +2.9
DVYA iShares Asia/Pacific Dividend ETF 0.8 49 1 8.9 +5.5
KNO AXS Knowledge Leaders ETF 0.8 78 -28 6.1 +2.7
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.7 19 31 6.3 +2.9
IPAC iShares Core MSCI Pacific ETF 0.7 9 41 7.1 +3.7
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.7 24 26 6.4 +3.0
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 27 8.6 +5.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.6 46 4 4.9 +1.5
IFGL iShares International Developed Real Estate ETF 0.6 48 2 6.3 +2.8
VPL Vanguard FTSE Pacific ETF 0.6 8 42 7.7 +4.2
DWX SPDR S&P International Dividend ETF 0.5 45 5 6.6 +3.1
HAP VanEck Natural Resources ETF 0.5 50 0 10.0 +6.6
FNDC Schwab Fundamental International Small Co. Index ETF 0.5 39 11 6.3 +2.9
FDEV Fidelity International Multifactor ETF 0.5 18 32 7.7 +4.3
JETS U.S. Global Jets ETF 0.5 60 -10 4.2 +0.7
SCZ iShares MSCI EAFE Small-Cap ETF 0.5 40 10 7.4 +4.0
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.5 35 15 5.9 +2.4
EFAV iShares MSCI EAFE Min Vol Factor ETF 0.5 22 28 5.8 +2.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.5 49 1 7.3 +3.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.4 10 40 7.5 +4.1
NXTG First Trust Indxx NextG ETF 0.4 70 -20 5.8 +2.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.4 47 3 5.7 +2.2
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.4 12 38 6.2 +2.8
DMXF iShares ESG Advanced MSCI EAFE ETF 0.3 12 38 5.8 +2.3
VGSR Vert Global Sustainable Real Estate ETF 0.3 47 3 2.8 -0.6
VIGI Vanguard International Dividend Appreciation ETF 0.3 15 35 6.2 +2.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.3 56 -6 12.6 +9.2
NUDM Nuveen ESG International Developed Markets Equity ETF 0.3 31 19 6.6 +3.2
IDV iShares International Select Dividend ETF 0.3 51 -1 11.6 +8.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.3 29 21 8.2 +4.8
DFGR Dimensional Global Real Estate ETF 0.3 22 28 3.2 -0.3
INTF iShares International Equity Factor ETF 0.3 15 35 8.1 +4.7
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 16 6.2 +2.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.2 39 11 8.3 +4.9
AVDV Avantis International Small Cap Value ETF 0.2 36 14 10.9 +7.5
IQSI IQ Candriam International Equity ETF 0.2 15 35 6.7 +3.2
AGNG Global X Aging Population ETF 0.2 50 0 4.2 +0.8
IMTM iShares MSCI Intl Momentum Factor ETF 0.2 30 20 5.6 +2.2
SCHC Schwab International Small-Cap Equity ETF 0.2 11 39 7.1 +3.7
IEFA iShares Core MSCI EAFE ETF 0.2 7 43 7.4 +3.9
CRTC Xtrackers US National Critical Technologies ETF 0.2 35 15 5.3 +1.9
VEA Vanguard FTSE Developed Markets ETF 0.2 5 45 7.6 +4.1
EFV iShares MSCI EAFE Value ETF 0.2 34 16 9.5 +6.0
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.2 30 20 7.3 +3.9
SCHF Schwab International Equity ETF 0.2 6 44 7.7 +4.3
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 46 7.4 +3.9
RODE Hartford Multifactor Diversified International ETF 0.2 29 21 9.9 +6.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.2 20 30 6.6 +3.2
REET iShares Global REIT ETF 0.2 14 36 3.3 -0.1
ERET iShares Environmentally Aware Real Estate ETF 0.2 30 20 3.1 -0.4
EFA iShares MSCI EAFE ETF 0.2 35 15 7.0 +3.6
VSGX Vanguard ESG International Stock ETF 0.2 12 38 8.2 +4.8
DFSI Dimensional International Sustainability Core 1 ETF 0.2 24 26 6.6 +3.2
SCHY Schwab International Dividend Equity ETF 0.2 14 36 9.8 +6.4
DFIV Dimensional International Value ETF 0.2 27 23 10.4 +7.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 0.2 80 -30 5.7 +2.3
AVRE Avantis Real Estate ETF 0.2 17 33 3.3 -0.1
DIVI Franklin International Core Dividend Tilt Index ETF 0.2 9 41 8.2 +4.8
DFAI Dimensional International Core Equity Market ETF 0.2 18 32 7.6 +4.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 7 43 7.0 +3.6
GWX SPDR S&P International Small Cap ETF 0.2 40 10 6.7 +3.3
EFG iShares MSCI EAFE Growth ETF 0.2 36 14 4.5 +1.1
RITA ETFB Green SRI REITs ETF 0.2 50 0 2.4 -1.0
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 47 7.5 +4.1
VXUS Vanguard Total International Stock ETF 0.2 7 43 8.3 +4.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 42 8.5 +5.1
RFDI First Trust Riverfront Dynamic Developed International ETF 0.1 83 -33 10.0 +6.6
DIHP Dimensional International High Profitability ETF 0.1 29 21 7.4 +4.0
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 43 8.3 +4.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 30 7.1 +3.7
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 30 7.4 +4.0
ESGD iShares ESG Aware MSCI EAFE ETF 0.1 20 30 7.1 +3.7
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 38 7.7 +4.3
DFIC Dimensional International Core Equity 2 ETF 0.1 23 27 7.9 +4.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 14 6.9 +3.5
BKIE BNY Mellon International Equity ETF 0.1 4 46 7.3 +3.9
DFIS Dimensional International Small Cap ETF 0.1 39 11 7.9 +4.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 16 8.1 +4.7
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -39 4.5 +1.1
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.1 20 30 6.7 +3.3
FENI Fidelity Enhanced International ETF 0.1 28 22 7.0 +3.6
GLOF iShares Global Equity Factor ETF 0.1 20 30 7.0 +3.6
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 40 6.1 +2.7
DISV Dimensional International Small Cap Value ETF 0.1 42 8 9.7 +6.2
VYMI Vanguard International High Dividend Yield ETF 0.1 22 28 10.0 +6.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.1 30 20 8.6 +5.2
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 30 7.6 +4.2
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.1 80 -30 10.0 +6.6
AVIV Avantis International Large Cap Value ETF 0.1 25 25 9.3 +5.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.1 14 36 6.0 +2.6
AVSD Avantis Responsible International Equity ETF 0.1 23 27 6.8 +3.4
AVDE Avantis International Equity ETF 0.1 23 27 8.0 +4.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 32 8.1 +4.7
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.1 25 25 6.5 +3.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 38 5.2 +1.7
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 20 8.2 +4.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 9 7.1 +3.7
JHMD John Hancock Multifactor Developed International ETF 0.1 39 11 7.8 +4.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 30 6.3 +2.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.1 39 11 7.0 +3.5
VT Vanguard Total World Stock ETF 0.1 7 43 6.4 +2.9
JPIN J.P. Morgan Diversified Return International Equity ETF 0.1 37 13 8.9 +5.5
ESGG FlexShares STOXX Global ESG Select Index Fund 0.1 42 8 5.2 +1.7
TOK iShares MSCI Kokusai ETF 0.0 26 24 5.0 +1.6
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 20 6.0 +2.5
URTH iShares MSCI World ETF 0.0 24 26 5.5 +2.1
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 25 10.1 +6.7
ACWI iShares MSCI ACWI ETF 0.0 32 18 6.1 +2.7
KOKU Xtrackers MSCI Kokusai Equity ETF 0.0 9 41 5.6 +2.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 41 6.0 +2.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 5 9.3 +5.9

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 7.8 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.83 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.