iShares MSCI Russia
ALTAR
Score™
16.1% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
6.4x P/Sales
ratio
0.9x
P/BV
ratio
0.9x Div.
yield
7.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Russia Capped Index Fund seeks to track the performance of the MSCI Russia 25/50 Index.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Nov 09, 2010
Assets (mns) $683
Currency USD
Expense ratio 59 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 27
Wgt avg mkt cap (mns) $57,290
Large cap (>$10bn) 78.6%
Mid cap ($2-10bn) 18.3%
Small cap (<$2bn) 0.0%
Developed mkts 6.1%
Emerging mkts 94.0%

TOP TEN HOLDINGS
GAZPROM OAO 17.2 %
LUKOIL OAO 14.1 %
SBERBANK 11.3 %
MMC NORILSK NICKEL OJSC 5.0 %
TATNEFT-CLS 4.5 %
NOVATEK OAO-SPONS GDR REG S 4.4 %
SURGUTNEFTEGAS 3.4 %
MOBILE TELESYSTEMS PJSC SPONSORED 3.2 %
SBERBANK-SPONSORED ADR 3.2 %
X5 RETAIL GROUP N.V. SPONSORED GDR 2.9 %
Total 69.2 %

TOP COUNTRY EXPOSURE
RUSSIA 95.3 %
NETHERLANDS 2.9 %









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.
37.7% 31.6% 8.9% -- 1.6%

Market Correlations
versus... Beta R-squared
S&P500 0.70 19%
MSCI EAFE 0.84 23%
MSCI Emg. Mkts. 0.59 19%

Technical Indicators
Recent close $42.18
30d moving avg. $40.93
Annualized volatility 19.5%
Short interest (ETF) 0.8%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 143
Turnover 0.9%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $584

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: ERUS Expense: 59 bp ALTAR Score™: 16.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ERUS
Ticker Fund
Name
Overlap1
vs ERUS
(%)
Expense
ratio
(bp)
Savings
vs ERUS
(bp)
ALTAR
Score™
(%)
ALTAR
vs ERUS
(%)
FLRU Franklin FTSE Russia 69.6 19 40 17.6 +1.5
RSX VanEck Vectors Russia ETF 21.0 65 -6 12.6 -3.6
SDEM Global X SuperDividend Emg Mkts 20.1 67 -8 18.7 +2.6
EEMO Invesco S&P Emg Mkts Momentum 11.7 30 29 8.2 -8.0
FTRI First Trust ISE Global Natural Resources Income 10.7 70 -11 10.0 -6.1
DVYE iShares Emerging Markets Dividend 10.7 49 10 14.0 -2.2
REDV Invesco Emerging Markets Ultra Dividend Revenue ETF 9.7 46 13 18.3 +2.2
LVHE Legg Mason Emerging Markets Low Volatility High Dividend 9.6 51 8 12.3 -3.9
PXH Invesco FTSE-RAFI Emerging Markets 9.4 50 9 12.6 -3.5
ECOW Pacer Emerging Markets Cash Cows 100 9.2 70 -11 11.1 -5.0
REEM Invesco Emerging Markets Revenue ETF 8.0 46 13 11.8 -4.3
BKF iShares MSCI BRIC 7.8 67 -8 8.9 -7.2
OBOR KraneShares MSCI One Belt One Road Index 7.4 79 -20 9.3 -6.9
KEMX KraneShares MSCI Emerging Markets EX China Index 7.2 49 10 8.8 -7.4
DWCR Arrow DWA Country Rotation 7.1 134 -75 4.9 -11.2
EYLD Cambria Emerging Shareholder Yield 6.8 66 -7 11.0 -5.2
RFEM First Trust Riverfront Dynamic Emerging Markets 6.7 95 -36 10.8 -5.3
EMEM Virtus Glovista Emerging Markets 6.1 67 -8 9.4 -6.8
ISEM Invesco Strategic Emerging Markets 6.1 35 24 10.1 -6.0
EMXC iShares MSCI Emerging Markets ex China 6.1 49 10 8.8 -7.4

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

  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

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

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.4 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 16.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.63
 
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.