iShares ESG MSCI EM ETF
ALTAR
Score™
8.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.5x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
2.4%


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

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Jun 28, 2016
Assets (mns) $3,547
Currency USD
Expense ratio 25 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 344
Wgt avg mkt cap (mns) $157,252
Large cap (>$10bn) 75.1%
Mid cap ($2-10bn) 22.3%
Small cap (<$2bn) 1.1%
Developed mkts 9.7%
Emerging mkts 87.9%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.4 %
TENCENT HOLDINGS LTD 6.5 %
TAIWAN SEMICONDUCTOR MANUFAC 6.3 %
SAMSUNG ELECTRONICS CO LTD 3.8 %
MEITUAN DIANPING 1.7 %
NASPERS LTD-N SHS 1.3 %
PING AN INSURANCE GROUP CO-H 1.2 %
CHINA CONSTRUCTION BANK-H 1.0 %
RELIANCE INDUSTRIES LTD 1.0 %
INFOSYS TECHNOLOGIES LTD 0.9 %
Total 31.0 %

TOP COUNTRY EXPOSURE
CHINA 36.1 %
TAIWAN 13.4 %
SOUTH KOREA 12.1 %
INDIA 8.4 %
BRAZIL 4.8 %
HONG KONG 3.7 %
SOUTH AFRICA 3.6 %
RUSSIA 3.1 %
SAUDI ARABIA 2.3 %
THAILAND 2.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.8% 7.8% -- -- 9.2%

Market Correlations
versus... Beta R-squared
S&P500 0.90 65%
MSCI EAFE 1.05 75%
MSCI Emg. Mkts. 0.93 95%

Technical Indicators
Recent close $35.79
30d moving avg. $35.08
Annualized volatility 19.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 641
Turnover 0.7%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $35,218

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares ESG MSCI EM ETF ETF based on the alternatives' overlap in portfolio holdings with ESGE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ESGE Expense: 25 bp ALTAR Score™: 8.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ESGE
Ticker Fund
Name
Overlap1
vs ESGE
(%)
Expense
ratio
(bp)
Savings
vs ESGE
(bp)
ALTAR
Score™
(%)
ALTAR
vs ESGE
(%)
EEM iShares MSCI Emerging Markets ETF 63.5 68 -43 7.3 -1.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 62.2 30 -5 7.7 -0.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 61.2 65 -40 7.3 -1.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 60.3 36 -11 8.0 -0.5
EEMA iShares MSCI Emerging Markets Asia ETF 59.1 50 -25 7.4 -1.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 58.3 45 -20 7.8 -0.7
IEMG iShares Core MSCI Emerging Markets ETF 58.2 13 12 7.8 -0.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 57.9 20 5 6.7 -1.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 57.0 68 -43 7.0 -1.5
FLAX Franklin FTSE Asia Ex Japan ETF 56.0 19 6 7.6 -0.9
SCHE Schwab Emerging Markets Equity ETF 55.2 11 14 7.9 -0.6
JHEM John Hancock Multifactor Emerging Markets ETF 53.9 49 -24 8.3 -0.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 52.6 32 -7 6.1 -2.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 49.7 15 10 8.6 +0.1
BKEM BNY Mellon Emerging Markets Equity ETF 49.6 11 14 8.4 -0.1
VWO Vanguard FTSE Emerging Markets ETF 49.2 10 15 8.0 -0.5
NUEM Nuveen ESG Emerging Markets Equity ETF 47.6 45 -20 7.0 -1.5
DVEM WisdomTree Emerging Markets Dividend Fund 46.9 32 -7 8.1 -0.4
SPEM SPDR Portfolio Emerging Markets ETF 46.1 11 14 7.8 -0.7
BKF iShares MSCI BRIC ETF 44.9 69 -44 7.4 -1.1
GMF SPDR S&P Emerging Asia Pacific ETF 39.8 49 -24 7.2 -1.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 39.8 49 -24 7.6 -0.9
EMXC iShares MSCI Emerging Markets ex China ETF 39.4 25 0 7.9 -0.6
PXH Invesco FTSE RAFI Emerging Markets ETF 38.1 50 -25 13.2 +4.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 37.8 30 -5 8.6 +0.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 35.9 95 -70 9.2 +0.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 35.4 59 -34 10.8 +2.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 35.0 49 -24 7.6 -0.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 34.6 40 -15 7.2 -1.3
MCHI iShares MSCI China ETF 33.9 59 -34 7.8 -0.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 33.0 39 -14 12.6 +4.2
GXC SPDR S&P China ETF 32.7 59 -34 8.0 -0.5
FLCH Franklin FTSE China ETF 32.3 19 6 8.3 -0.2
KALL KraneShares FTSE Emerging Markets Plus ETF 31.6 49 -24 8.1 -0.4
AVEM Avantis Emerging Markets Equity ETF 31.4 33 -8 8.7 +0.2
CN Xtrackers MSCI All China Equity ETF 30.8 50 -25 8.1 -0.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 30.2 32 -7 8.9 +0.4
AIA iShares Asia 50 ETF 29.5 50 -25 7.9 -0.6
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 28.5 25 0 7.7 -0.8
EEMO Invesco S&P Emerging Markets Momentum ETF 28.0 29 -4 6.4 -2.1
CXSE WisdomTree China ex-State-Owned Enterprises Fund 27.5 32 -7 6.1 -2.4
ISEM Invesco Strategic Emerging Markets ETF 27.0 35 -10 10.2 +1.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 26.6 45 -20 9.3 +0.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 26.2 44 -19 8.9 +0.4
CHIL Global X MSCI China Large-Cap 50 ETF 26.2 29 -4 8.3 -0.2
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 26.1 64 -39 4.6 -3.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 25.8 16 9 6.8 -1.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 22.9 45 -20 8.8 +0.3
RNEM Emerging Markets Equity Select ETF 22.4 75 -50 11.4 +2.9
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 22.2 50 -25 10.3 +1.9
EMMF WisdomTree Emerging Markets Multifactor Fund 22.1 48 -23 9.3 +0.8
ROAM Hartford Multifactor Emerging Markets ETF 21.9 44 -19 14.4 +5.9
XCEM Columbia EM Core ex-China ETF 21.9 16 9 7.0 -1.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 21.7 86 -61 2.1 -6.4
FDNI First Trust Dow Jones International Internet ETF 20.4 65 -40 2.2 -6.3
BICK First Trust BICK Index Fund 20.3 64 -39 4.3 -4.1
ECON Columbia Emerging Markets Consumer ETF 20.2 59 -34 4.5 -4.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 20.0 40 -15 6.9 -1.6
KWEB KraneShares CSI China Internet ETF 19.3 76 -51 1.8 -6.6
VSGX Vanguard ESG International Stock ETF 19.2 17 8 7.0 -1.5
ACWX iShares MSCI ACWI ex U.S. ETF 18.6 32 -7 7.1 -1.4
TTTN UP Fintech China-U.S. Internet Titans ETF 17.8 59 -34 4.1 -4.3
IXUS ishares Core MSCI Total International Stock ETF 17.6 9 16 7.3 -1.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 17.2 45 -20 13.2 +4.7
PIE Invesco DWA Emerging Markets Momentum ETF 16.7 90 -65 4.6 -3.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.5 29 -4 9.8 +1.4
VXUS Vanguard Total International Stock Index Fund 16.3 8 17 7.4 -1.1
VEU Vanguard FTSE All-World ex-US Index Fund 16.1 8 17 7.4 -1.1
VYMI Vanguard International High Dividend Yield ETF 15.4 32 -7 9.9 +1.4
FXI iShares China Large-Cap ETF 15.0 74 -49 13.0 +4.5
OGIG O'Shares Global Internet Giants ETF 15.0 48 -23 0.7 -7.8
CWI SPDR MSCI ACWI ex-US ETF 14.7 30 -5 7.1 -1.4
CHIQ Global X China Consumer ETF 14.0 65 -40 7.0 -1.5
WUGI Esoterica NextG Economy ETF 13.4 75 -50 1.7 -6.8
EWT iShares MSCI Taiwan ETF 13.4 59 -34 5.7 -2.8
FLTW Franklin FTSE Taiwan ETF 13.3 19 6 6.1 -2.4
VIGI Vanguard International Dividend Appreciation ETF 12.9 25 0 5.5 -3.0
FLKR Franklin FTSE South Korea ETF 12.0 9 16 8.4 -0.1
FRDM Freedom 100 Emerging Markets ETF 11.7 49 -24 6.5 -2.0
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.7 60 -35 8.5 0.0
EWY iShares MSCI South Korea ETF 11.5 59 -34 8.0 -0.5
DINT Davis Select International ETF 11.5 68 -43 5.7 -2.8
AIQ Global X Future Analytics Tech ETF 11.3 68 -43 4.2 -4.3
FNI First Trust Chindia ETF 10.9 60 -35 2.6 -5.9
DEM WisdomTree Emerging Markets High Dividend Fund 10.7 63 -38 14.0 +5.5
CQQQ Invesco China Technology ETF 10.7 70 -45 3.8 -4.7
PGJ Invesco Golden Dragon China ETF 10.6 70 -45 3.2 -5.3
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 10.6 18 7 5.3 -3.1
GBUY Goldman Sachs Motif New Age Consumer ETF 10.5 50 -25 1.8 -6.7
EMFM Global X MSCI Next Emerging & Frontier ETF 10.3 66 -41 9.0 +0.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 10.1 20 5 10.8 +2.4
DWLD Davis Select Worldwide ETF 10.0 63 -38 6.4 -2.1
FEM First Trust Emerging Markets AlphaDEX Fund 9.8 80 -55 12.9 +4.4
JOYY Infusive Compounding Global Equities ETF 9.8 50 -25 3.6 -4.9
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 9.7 80 -55 3.8 -4.7
PNQI Invesco NASDAQ Internet ETF 9.5 62 -37 1.0 -7.5
BUYZ Franklin Disruptive Commerce ETF 9.5 50 -25 -0.3 -8.7
IGRO iShares International Dividend Growth ETF 8.8 22 3 7.8 -0.7

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 ESG MSCI EM 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 12.7 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 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.