iShares MSCI Pacific ex-Japan
ALTAR
Score™
6.4% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
16.0x P/Sales
ratio
2.6x
P/BV
ratio
1.6x Div.
yield
4.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Pacific ex-Japan Index Fund seeks investment results that correspond generally to the price and yield performance of publicly traded securities in the Australia, Hong Kong, New Zealand, and Singapore markets, as represented by the MSCI Pacific Free ex-Japan Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Oct 26, 2001
Assets (mns) $2,272
Currency USD
Expense ratio 48 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 150
Wgt avg mkt cap (mns) $44,289
Large cap (>$10bn) 78.1%
Mid cap ($2-10bn) 21.5%
Small cap (<$2bn) 0.0%
Developed mkts 98.7%
Emerging mkts 1.3%

TOP TEN HOLDINGS
AIA GROUP LTD 7.0 %
COMMONWEALTH BANK OF AUSTRAL 5.6 %
CSL LIMITED 4.8 %
BHP BILLITON LTD 4.3 %
WESTPAC BANKING CORP 3.4 %
NATIONAL AUSTRALIA BANK LTD 2.9 %
AUST AND NZ BANKING GROUP 2.8 %
HONG KONG EXCHANGES & CLEAR 2.2 %
DBS GROUP HOLDINGS LTD 2.0 %
WOOLWORTHS LIMITED 1.9 %
Total 36.9 %

TOP COUNTRY EXPOSURE
AUSTRALIA 56.2 %
HONG KONG 26.9 %
SINGAPORE 10.4 %
NEW ZEALAND 2.2 %
MACAU 0.9 %
BERMUDA 0.8 %
CHINA 0.5 %
IRELAND 0.5 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
15.4% 12.1% 4.3% 5.3% 11.8%

Market Correlations
versus... Beta R-squared
S&P500 0.72 57%
MSCI EAFE 0.85 65%
MSCI Emg. Mkts. 0.73 78%

Technical Indicators
Recent close $45.63
30d moving avg. $46.16
Annualized volatility 11.5%
Short interest (ETF) 0.2%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 305
Turnover 0.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $4,423

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI Pacific ex-Japan ETF based on the alternatives' overlap in portfolio holdings with EPP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EPP Expense: 48 bp ALTAR Score™: 6.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EPP
Ticker Fund
Name
Overlap1
vs EPP
(%)
Expense
ratio
(bp)
Savings
vs EPP
(bp)
ALTAR
Score™
(%)
ALTAR
vs EPP
(%)
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan 92.1 19 29 6.5 +0.2
FLAU Franklin FTSE Australia 55.4 9 39 6.0 -0.3
EWA iShares MSCI Australia 55.4 47 1 5.7 -0.7
SCIX Global X Scientific Beta Asia ex-Japan 38.4 38 10 6.1 -0.2
AXJL WisdomTree Asia Pacific Ex-Japan 34.9 48 0 9.2 +2.9
EWH iShares MSCI Hong Kong 29.2 48 0 7.2 +0.9
FLHK Franklin FTSE Hong Kong 28.1 9 39 7.6 +1.3
ZHOK SPDR Solactive Hong Kong 26.1 14 34 7.2 +0.9
IPAC iShares Core MSCI Pacific 25.9 9 39 7.4 +1.1
RFAP First Trust Riverfront Dynamic Asia Pacific 24.0 83 -35 7.2 +0.9
2800-HK Tracker Fund of Hong Kong 23.5 9 39 9.8 +3.4
AIA iShares S&P Asia 50 22.9 50 -2 9.5 +3.2
VPL Vanguard Pacific ETF 22.8 9 39 7.7 +1.4
FPA First Trust Asia Pac Ex-Japan AlphaDEX 20.2 80 -32 8.8 +2.4
DVYA iShares Asia/Pacific Dividend 30 18.5 49 -1 8.3 +2.0
INTF iShares FactorSelect MSCI International 17.2 30 18 8.3 +1.9
FAUS First Trust Australia 17.1 80 -32 5.2 -1.2
FHK First Trust Hong Kong 16.8 80 -32 9.5 +3.1
EFAV iShares MSCI EAFE Minimum Volatility 16.8 20 28 5.8 -0.6
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 15.9 24 24 7.0 +0.6

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%.

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 Pacific ex-Japan
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.74 CATEGORY
AVERAGE
1.49
 
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.