iShares MSCI Philippines ETF
ALTAR
Score™		 8.2% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 17.0x P/Sales
ratio		 1.9x
P/BV
ratio		 1.5x Div.
yield		 2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
EPHE tracks a market-cap-weighted index of the broader Filipino equity market.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Blackrock Inc.
Website us.ishares.com
Inception date Sep 28, 2010
Assets (mns) $117
Currency USD
Expense ratio 59 bp
Distributions Semi-annual

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 39
Wgt avg mkt cap (mns) $8,673
Large cap (>$10bn) 21.9%
Mid cap ($2-10bn) 63.9%
Small cap (<$2bn) 14.3%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
SM PRIME HOLDINGS INC 12.6 %
AYALA LAND INC 9.8 %
SM INVESTMENTS CORP 9.1 %
AYALA CORPORATION 8.7 %
BDO UNIBANK INC 8.2 %
JG SUMMIT HOLDINGS INC 5.8 %
UNIVERSAL ROBINA CORP 4.8 %
PLDT, INC. 4.6 %
INTL CONTAINER TERM SVCS INC 3.6 %
ABOITIZ EQUITY VENTURES INC 3.5 %
Total 70.7 %

TOP COUNTRY EXPOSURE
PHILIPPINES 99.5 %










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.
-26.9% -28.1% -8.2% -- 0.8%

Market Correlations
versus... Beta R-squared
S&P500 0.67 34%
MSCI EAFE 0.82 44%
MSCI Emg. Mkts. 0.71 50%

Technical Indicators
Recent close $28.42
30d moving avg. $24.65
Annualized volatility 19.6%
Short interest (ETF) 7.7%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 129
Turnover 3.2%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $70

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 94 potential alternatives to the iShares MSCI Philippines ETF ETF based on the alternatives' overlap in portfolio holdings with EPHE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EPHE Expense: 59 bp ALTAR Score™: 8.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EPHE
Ticker Fund
Name		 Overlap1
vs EPHE
(%)		 Expense
ratio
(bp)		 Savings
vs EPHE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EPHE
(%)
ASEA Global X Southeast Asia ETF 6.3 65 -6 9.8 +1.6
FRDM Freedom 100 Emerging Markets ETF 5.5 49 10 7.2 -1.0
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 5.2 60 -1 8.4 +0.2
EDOG ALPS Emerging Sector Dividend Dogs ETF 4.7 60 -1 10.4 +2.2
EMFM Global X MSCI Next Emerging & Frontier ETF 4.6 55 4 8.7 +0.4
EMCG WisdomTree Emerging Markets Consumer Growth Fund 3.6 32 27 7.9 -0.3
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 3.5 51 8 13.4 +5.2
OBOR KraneShares MSCI One Belt One Road Index ETF 3.0 79 -20 9.7 +1.4
ROAM Hartford Multifactor Emerging Markets ETF 3.0 44 15 14.8 +6.6
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 2.7 50 9 9.9 +1.7
DVYE iShares Emerging Markets Dividend ETF 2.6 49 10 13.0 +4.8
EMMF WisdomTree Emerging Markets Multifactor Fund 2.5 48 11 9.9 +1.7
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 2.3 10 49 9.1 +0.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 2.2 25 34 8.4 +0.2
WWJD Inspire International ESG ETF 2.1 80 -21 7.6 -0.6
XCEM Columbia EM Core ex-China ETF 1.8 16 43 7.8 -0.4
RNEM Emerging Markets Equity Select ETF 1.8 75 -16 10.4 +2.2
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 1.7 64 -5 5.3 -2.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 1.6 45 14 9.7 +1.5
RWX SPDR Dow Jones International Real Estate ETF 1.6 59 0 6.8 -1.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 1.6 49 10 8.3 +0.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.6 32 27 9.5 +1.3
EMXC iShares MSCI Emerging Markets ex China ETF 1.4 49 10 8.4 +0.1
PIE Invesco DWA Emerging Markets Momentum ETF 1.4 90 -31 5.7 -2.5
BLES Inspire Global Hope Large Cap ETF 1.4 61 -2 6.2 -2.0
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 1.4 80 -21 19.4 +11.2
VNQI Vanguard Global ex-US Real Estate Index Fund 1.3 12 47 9.9 +1.7
JHEM John Hancock Multifactor Emerging Markets ETF 1.3 55 4 8.8 +0.6
GMF SPDR S&P Emerging Asia Pacific ETF 1.2 49 10 8.0 -0.2
EEMA iShares MSCI Emerging Markets Asia ETF 1.2 50 9 8.4 +0.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.1 30 29 9.4 +1.2
SCHE Schwab Emerging Markets Equity ETF 1.0 13 46 8.7 +0.4
FLAX Franklin FTSE Asia Ex Japan ETF 1.0 19 40 8.5 +0.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.0 30 29 8.8 +0.6
PBEE Invesco PureBeta FTSE Emerging Markets ETF 1.0 14 45 9.5 +1.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.0 45 14 9.0 +0.7
NUEM Nuveen ESG Emerging Markets Equity ETF 1.0 45 14 7.8 -0.4
VWO Vanguard FTSE Emerging Markets ETF 1.0 10 49 8.8 +0.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.0 32 27 6.8 -1.4
FLM First Trust Global Engineering & Construction ETF 1.0 70 -11 9.8 +1.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.9 68 -9 8.0 -0.3
LVIN Hartford Multifactor Low Volatility International Equity ETF 0.9 29 30 12.2 +4.0
DVEM WisdomTree Emerging Markets Dividend Fund 0.9 32 27 9.1 +0.9
SPEM SPDR Portfolio Emerging Markets ETF 0.9 11 48 8.6 +0.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.8 59 0 11.1 +2.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.8 20 39 7.6 -0.6
EEM iShares MSCI Emerging Markets ETF 0.8 68 -9 8.3 +0.1
AVEM Avantis Emerging Markets Equity ETF 0.8 33 26 9.5 +1.3
IEMG iShares Core MSCI Emerging Markets ETF 0.8 14 45 8.7 +0.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.8 65 -6 8.4 +0.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 0.7 45 14 10.0 +1.8
RWO SPDR Dow Jones Global Real Estate ETF 0.7 50 9 7.0 -1.3
FEM First Trust Emerging Markets AlphaDEX Fund 0.7 80 -21 11.8 +3.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.7 49 10 9.0 +0.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.7 69 -10 7.5 -0.7
VIGI Vanguard International Dividend Appreciation ETF 0.6 25 34 5.9 -2.3
DEM WisdomTree Emerging Markets High Dividend Fund 0.6 63 -4 14.2 +6.0
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.6 63 -4 13.2 +5.0
ESGE iShares ESG MSCI EM ETF 0.5 25 34 9.7 +1.5
NXTG First Trust Indxx NextG ETF 0.5 70 -11 6.1 -2.2
EWX SPDR S&P Emerging Markets Small Cap ETF 0.5 65 -6 6.9 -1.3
KOL VanEck Vectors Coal ETF 0.5 60 -1 18.7 +10.5
DRW WisdomTree Global ex-US Real Estate Fund 0.4 58 1 10.6 +2.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.4 95 -36 10.1 +1.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.4 45 14 8.7 +0.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 20 13.1 +4.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.3 40 19 7.9 -0.4
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 10 11.5 +3.3
INFR Legg Mason Global Infrastructure ETF 0.3 40 19 6.0 -2.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.3 47 12 6.4 -1.8
ACWV iShares Edge MSCI Min Vol Global ETF 0.3 20 39 5.9 -2.4
AXJL WisdomTree Asia Pacific ex-Japan Fund 0.3 48 11 10.0 +1.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 0.3 16 43 7.1 -1.1
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 51 7.7 -0.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 32 27 7.5 -0.7
IGRO iShares International Dividend Growth ETF 0.2 22 37 8.0 -0.2
VXUS Vanguard Total International Stock Index Fund 0.2 8 51 7.7 -0.5
IXUS ishares Core MSCI Total International Stock ETF 0.2 9 50 7.6 -0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 40 19 7.4 -0.8
VSGX Vanguard ESG International Stock ETF 0.2 17 42 7.4 -0.8
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 29 7.6 -0.6
ACWF iShares FactorSelect MSCI Global ETF 0.1 35 24 8.1 -0.1
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.1 11 48 6.3 -1.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 0.1 20 39 10.9 +2.7
VT Vanguard Total World Stock Index Fund 0.1 8 51 6.3 -2.0
IQDE FlexShares International Quality Dividend Defensive Index Fd 0.1 47 12 12.7 +4.5
VYMI Vanguard International High Dividend Yield ETF 0.1 32 27 10.1 +1.9
ACWI iShares MSCI ACWI ETF 0.1 32 27 6.0 -2.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 39 6.3 -1.9
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.1 20 39 6.4 -1.8
DEW WisdomTree Global High Dividend Fund 0.1 58 1 9.0 +0.8
ISEM Invesco Strategic Emerging Markets ETF 0.1 35 24 10.3 +2.1
SDGA Impact Shares Sustainable Development Goals Global ETF 0.0 75 -16 5.4 -2.8
FILL iShares MSCI Global Energy Producers ETF 0.0 39 20 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

  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

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

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 CATEGORY
AVERAGE		 1.45
 
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.