iShares MSCI EAFE ESG Optimized ETF
ALTAR
Score™		 6.2% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 23.8x P/Sales
ratio		 1.4x
P/BV
ratio		 1.7x Div.
yield		 2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI EAFE ESG Optimized ETF& tracks an index of developed market international companies that have been selected and weighted for positive environmental, social, and governance characteristics.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Jun 28, 2016
Assets (mns) $4,276
Currency USD
Expense ratio 20 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Principles-based
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 483
Wgt avg mkt cap (mns) $69,445
Large cap (>$10bn) 88.9%
Mid cap ($2-10bn) 10.1%
Small cap (<$2bn) 0.0%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 2.1 %
ASML HOLDING NV 1.6 %
ROCHE HOLDING AG-GENUSSCHEIN 1.6 %
NOVARTIS AG-REG 1.3 %
AIA GROUP LTD 1.0 %
LVMH MOET HENNESSY LOUIS VUI 1.0 %
SIEMENS AG-REG 1.0 %
UNILEVER PLC 0.9 %
ASTRAZENECA PLC 0.9 %
NOVO NORDISK A/S-B 0.9 %
Total 12.4 %

TOP COUNTRY EXPOSURE
JAPAN 25.2 %
BRITAIN 13.5 %
SWITZERLAND 10.0 %
FRANCE 10.0 %
GERMANY 7.9 %
AUSTRALIA 6.8 %
NETHERLANDS 4.9 %
SWEDEN 3.5 %
HONG KONG 2.9 %
DENMARK 2.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
8.2% 8.2% -- -- 9.8%

Market Correlations
versus... Beta R-squared
S&P500 0.86 82%
MSCI EAFE 0.95 98%
MSCI Emg. Mkts. 0.74 76%

Technical Indicators
Recent close $75.02
30d moving avg. $73.76
Annualized volatility 18.0%
Short interest (ETF) 0.4%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 278
Turnover 0.5%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $52,885

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the iShares MSCI EAFE ESG Optimized ETF ETF based on the alternatives' overlap in portfolio holdings with ESGD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ESGD Expense: 20 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ESGD
Ticker Fund
Name		 Overlap1
vs ESGD
(%)		 Expense
ratio
(bp)		 Savings
vs ESGD
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ESGD
(%)
DFAI Dimensional International Core Equity Market ETF 86.1 18 2 6.4 +0.2
EFA iShares MSCI EAFE ETF 77.0 32 -12 6.2 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 76.6 20 0 6.4 +0.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 75.6 35 -15 6.1 -0.1
GSID Goldman Sachs MarketBeta International Equity ETF 74.3 20 0 6.3 +0.2
BKIE BNY Mellon International Equity ETF 72.5 4 16 6.6 +0.4
HFXI IQ 50 Percent Hedged FTSE International ETF 71.7 20 0 6.4 +0.3
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 68.3 7 13 6.5 +0.4
IQSI IQ Candriam ESG International Equity ETF 68.2 15 5 6.4 +0.2
IEFA iShares Core MSCI EAFE ETF 66.9 7 13 6.5 +0.3
JHMD John Hancock Multifactor Developed International ETF 63.7 39 -19 6.6 +0.4
SCHF Schwab International Equity ETF 63.2 6 14 6.5 +0.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 62.6 35 -15 6.0 -0.2
IDEV iShares Core MSCI International Developed Markets ETF 61.7 5 15 6.5 +0.3
QEFA SPDR MSCI EAFE Quality Mix ETF 60.6 30 -10 6.0 -0.2
SPDW SPDR Portfolio Developed World ex-US ETF 58.2 4 16 6.2 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 58.1 45 -25 6.0 -0.2
BBEU JPMorgan BetaBuilders Europe ETF 57.7 9 11 6.7 +0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 57.6 14 6 6.1 -0.1
IEV iShares Europe ETF 57.5 59 -39 6.3 +0.1
FLEE Franklin FTSE Europe ETF 57.4 9 11 6.5 +0.3
FLEH Franklin FTSE Europe Hedged ETF 57.4 9 11 6.5 +0.3
IEUR iShares Core MSCI Europe ETF 57.2 9 11 6.6 +0.4
SPEU SPDR Portfolio Europe ETF 56.3 9 11 6.8 +0.7
VEA Vanguard FTSE Developed Markets ETF 55.9 5 15 6.6 +0.4
VGK Vanguard FTSE Europe ETF 55.7 8 12 6.8 +0.6
DMXF iShares ESG Advanced MSCI EAFE ETF 55.3 12 8 6.2 +0.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 54.8 25 -5 6.0 -0.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 54.0 45 -25 7.7 +1.5
PDEV Principal International Multi-Factor Core Index ETF 53.5 25 -5 7.1 +0.9
VSGX Vanguard ESG International Stock ETF 53.1 17 3 6.3 +0.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 52.7 40 -20 7.2 +1.1
DWM WisdomTree International Equity Fund 52.1 48 -28 7.2 +1.0
DOL WisdomTree International LargeCap Dividend Fund 51.5 48 -28 7.2 +1.0
CWI SPDR MSCI ACWI ex-US ETF 51.3 30 -10 6.2 -0.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 50.4 25 -5 5.9 -0.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 50.3 16 4 6.0 -0.2
FNDF Schwab Fundamental International Large Co. Index ETF 49.7 25 -5 7.7 +1.5
ACWX iShares MSCI ACWI ex U.S. ETF 49.1 32 -12 6.3 +0.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 49.1 39 -19 5.6 -0.6
EFV iShares MSCI EAFE Value ETF 49.0 39 -19 8.4 +2.3
EFG iShares MSCI EAFE Growth ETF 49.0 40 -20 4.1 -2.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 48.3 40 -20 6.1 -0.1
CIL VictoryShares International Volatility Weighted Index ETF 48.1 45 -25 6.4 +0.2
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 48.0 45 -25 6.4 +0.2
ISZE iShares Edge MSCI Intl Size Factor ETF 47.6 30 -10 6.3 +0.1
RESD WisdomTree International ESG Fund 46.9 30 -10 6.5 +0.3
VEU Vanguard FTSE All-World ex-US Index Fund 45.8 8 12 6.7 +0.5
IQIN IQ 500 International ETF 43.4 25 -5 7.7 +1.5
IXUS ishares Core MSCI Total International Stock ETF 42.4 9 11 6.4 +0.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 40.6 39 -19 7.4 +1.3
ISDX Invesco RAFI Strategic Developed ex-US ETF 40.2 23 -3 6.3 +0.1
PQIN PGIM QMA Strategic Alpha International Equity ETF 40.0 29 -9 7.1 +0.9
IQLT iShares Edge MSCI Intl Quality Factor ETF 38.6 30 -10 5.2 -1.0
TPIF Timothy Plan International ETF 37.8 62 -42 6.1 -0.1
AVDE Avantis International Equity ETF 36.9 23 -3 6.9 +0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 36.0 40 -20 5.9 -0.3
RBIN Nationwide Risk-Based International Equity ETF 35.6 42 -22 6.0 -0.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 35.5 30 -10 4.1 -2.1
IPAC iShares Core MSCI Pacific ETF 34.7 9 11 6.3 +0.1
VXUS Vanguard Total International Stock ETF 34.5 8 12 6.6 +0.4
VPL Vanguard FTSE Pacific ETF 33.5 8 12 6.4 +0.2
VYMI Vanguard International High Dividend Yield ETF 32.9 27 -7 9.0 +2.9
IVLU iShares Edge MSCI Intl Value Factor ETF 32.8 30 -10 10.0 +3.9
RNDM First Trust Developed International Equity Select ETF 30.7 65 -45 5.7 -0.5
EFAV iShares Edge MSCI Min Vol EAFE ETF 30.7 20 0 5.0 -1.2
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 30.7 24 -4 6.5 +0.4
EZU iShares MSCI Eurozone ETF 30.6 51 -31 6.0 -0.2
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 30.1 45 -25 6.0 -0.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 29.9 42 -22 4.6 -1.6
EURZ Xtrackers Eurozone Equity ETF 29.0 9 11 6.6 +0.4
JPIN JPMorgan Diversified Return International Equity ETF 29.0 37 -17 7.0 +0.8
VWID Virtus WMC International Dividend ETF 27.7 49 -29 7.4 +1.2
FDEV Fidelity Targeted International Factor ETF 26.8 39 -19 6.2 -0.0
IDLB Invesco FTSE International Low Beta Equal Weight ETF 26.7 45 -25 6.1 -0.0
QINT American Century Quality Diversified International ETF 26.6 39 -19 5.7 -0.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 26.3 58 -38 6.5 +0.3
QWLD SPDR MSCI World StrategicFactors ETF 26.2 30 -10 5.4 -0.8
URTH iShares MSCI World ETF 25.5 24 -4 5.0 -1.2
IDMO Invesco S&P International Developed Momentum ETF 25.0 26 -6 3.7 -2.5
EWJ iShares MSCI Japan ETF 25.0 51 -31 6.0 -0.1
FIVA Fidelity International Value Factor ETF 25.0 39 -19 8.8 +2.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 24.9 29 -9 7.3 +1.1
FLJP Franklin FTSE Japan ETF 24.9 9 11 6.5 +0.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 24.9 35 -15 7.7 +1.6
FLJH Franklin FTSE Japan Hedged ETF 24.9 9 11 6.5 +0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 24.8 45 -25 6.1 -0.1
BBJP JPMorgan BetaBuilders Japan ETF 24.7 19 1 6.4 +0.2
DTH WisdomTree International High Dividend Fund 24.7 58 -38 8.8 +2.6
ZJPN SPDR Solactive Japan ETF 24.6 14 6 6.5 +0.3
IDLV Invesco S&P International Developed Low Volatility ETF 24.6 25 -5 6.2 +0.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 24.2 32 -12 5.7 -0.5
IDHQ Invesco S&P International Developed Quality ETF 24.2 29 -9 4.7 -1.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 24.2 25 -5 6.2 +0.1
JPXN iShares JPX-Nikkei 400 ETF 23.8 48 -28 6.2 +0.1
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 23.7 9 11 6.6 +0.5
VIGI Vanguard International Dividend Appreciation ETF 23.0 20 0 5.0 -1.1

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 EAFE ESG Optimized ETF
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 10.1 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.54
 
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.