iShares ESG MSCI EM ETF
ALTAR
Score™
8.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.7x P/Sales
ratio
1.3x
P/BV
ratio
1.6x Div.
yield
2.3%


  • 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) $4,559
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 346
Wgt avg mkt cap (mns) $174,539
Large cap (>$10bn) 74.1%
Mid cap ($2-10bn) 22.6%
Small cap (<$2bn) 1.3%
Developed mkts 9.1%
Emerging mkts 88.3%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 8.8 %
TENCENT HOLDINGS LTD 6.6 %
TAIWAN SEMICONDUCTOR MANUFAC 6.2 %
SAMSUNG ELECTRONICS CO LTD 4.0 %
MEITUAN DIANPING 1.9 %
PING AN INSURANCE GROUP CO-H 1.3 %
NASPERS LTD-N SHS 1.3 %
INFOSYS TECHNOLOGIES LTD 1.0 %
CHINA CONSTRUCTION BANK-H 1.0 %
JD.COM INC-ADR 1.0 %
Total 33.2 %

TOP COUNTRY EXPOSURE
CHINA 37.2 %
TAIWAN 13.2 %
SOUTH KOREA 12.1 %
INDIA 8.6 %
BRAZIL 4.3 %
SOUTH AFRICA 3.8 %
HONG KONG 3.2 %
RUSSIA 2.6 %
SAUDI ARABIA 2.6 %
MALAYSIA 2.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.2% 12.3% -- -- 9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.87 64%
MSCI EAFE 1.04 75%
MSCI Emg. Mkts. 0.93 95%

Technical Indicators
Recent close $37.31
30d moving avg. $36.14
Annualized volatility 19.2%
Short interest (ETF) 1.6%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 589
Turnover 0.5%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $30,853

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 65.2 68 -43 7.3 -1.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 64.7 30 -5 7.6 -0.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 63.7 65 -40 7.4 -1.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 61.9 36 -11 7.2 -1.2
EEMA iShares MSCI Emerging Markets Asia ETF 60.0 50 -25 7.6 -0.8
IEMG iShares Core MSCI Emerging Markets ETF 59.7 13 12 7.8 -0.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 58.9 68 -43 7.0 -1.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 58.8 20 5 6.7 -1.8
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 58.8 45 -20 7.5 -1.0
FLAX Franklin FTSE Asia Ex Japan ETF 57.8 19 6 7.6 -0.9
SCHE Schwab Emerging Markets Equity ETF 57.4 11 14 7.8 -0.6
JHEM John Hancock Multifactor Emerging Markets ETF 55.0 49 -24 8.7 +0.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 54.0 32 -7 5.6 -2.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 52.2 15 10 8.3 -0.1
DVEM WisdomTree Emerging Markets Dividend Fund 51.9 32 -7 7.2 -1.3
VWO Vanguard FTSE Emerging Markets ETF 50.6 10 15 7.9 -0.5
NUEM Nuveen ESG Emerging Markets Equity ETF 50.3 45 -20 6.7 -1.8
BKEM BNY Mellon Emerging Markets Equity ETF 49.5 11 14 8.2 -0.3
SPEM SPDR Portfolio Emerging Markets ETF 47.5 11 14 7.7 -0.8
BKF iShares MSCI BRIC ETF 46.3 69 -44 7.3 -1.1
EEMO Invesco S&P Emerging Markets Momentum ETF 42.6 29 -4 4.0 -4.5
GMF SPDR S&P Emerging Asia Pacific ETF 41.4 49 -24 7.0 -1.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 40.5 40 -15 7.2 -1.2
PXH Invesco FTSE RAFI Emerging Markets ETF 40.3 50 -25 13.3 +4.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 39.0 49 -24 7.7 -0.8
EMXC iShares MSCI Emerging Markets ex China ETF 38.8 25 0 8.1 -0.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 38.7 30 -5 8.7 +0.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 38.2 95 -70 8.0 -0.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 36.1 59 -34 11.0 +2.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 35.7 49 -24 7.9 -0.6
MCHI iShares MSCI China ETF 35.5 59 -34 7.6 -0.9
GXC SPDR S&P China ETF 34.5 59 -34 7.6 -0.8
FLCH Franklin FTSE China ETF 34.4 19 6 8.1 -0.4
FDEM Fidelity Targeted Emerging Markets Factor ETF 33.7 45 -20 8.5 -0.0
KALL KraneShares FTSE Emerging Markets Plus ETF 33.7 49 -24 7.8 -0.6
AVEM Avantis Emerging Markets Equity ETF 33.0 33 -8 8.7 +0.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 32.9 39 -14 13.4 +4.9
CN Xtrackers MSCI All China Equity ETF 32.5 50 -25 7.9 -0.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 31.5 32 -7 8.9 +0.4
AIA iShares Asia 50 ETF 30.1 50 -25 7.8 -0.7
CXSE WisdomTree China ex-State-Owned Enterprises Fund 29.8 32 -7 11.3 +2.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 29.4 25 0 7.9 -0.6
CHIL Global X MSCI China Large-Cap 50 ETF 29.1 29 -4 7.4 -1.1
ISEM Invesco Strategic Emerging Markets ETF 28.2 35 -10 10.8 +2.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 27.0 16 9 6.9 -1.6
EMMF WisdomTree Emerging Markets Multifactor Fund 26.8 48 -23 9.5 +1.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 26.4 44 -19 9.1 +0.6
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 24.1 45 -20 9.0 +0.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 23.8 86 -61 2.1 -6.4
VSGX Vanguard ESG International Stock ETF 23.1 17 8 7.0 -1.5
RNEM Emerging Markets Equity Select ETF 22.8 75 -50 11.8 +3.3
FDNI First Trust Dow Jones International Internet ETF 22.3 65 -40 2.0 -6.5
ROAM Hartford Multifactor Emerging Markets ETF 21.9 44 -19 13.0 +4.5
XCEM Columbia EM Core ex-China ETF 21.6 16 9 7.1 -1.4
KWEB KraneShares CSI China Internet ETF 21.3 76 -51 2.0 -6.5
ECON Columbia Emerging Markets Consumer ETF 21.1 59 -34 4.9 -3.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 20.8 40 -15 7.1 -1.4
TTTN UP Fintech China-U.S. Internet Titans ETF 19.4 59 -34 4.2 -4.2
ACWX iShares MSCI ACWI ex U.S. ETF 19.3 32 -7 7.2 -1.3
BICK First Trust BICK Index Fund 19.3 64 -39 4.7 -3.8
IXUS ishares Core MSCI Total International Stock ETF 18.3 9 16 7.3 -1.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 17.4 45 -20 14.3 +5.9
VEU Vanguard FTSE All-World ex-US Index Fund 16.9 8 17 7.5 -1.0
VYMI Vanguard International High Dividend Yield ETF 16.8 27 -2 10.2 +1.7
CHIQ Global X China Consumer ETF 16.4 65 -40 6.6 -1.8
VXUS Vanguard Total International Stock Index Fund 16.0 8 17 7.5 -1.0
FXI iShares China Large-Cap ETF 16.0 74 -49 13.1 +4.7
CWI SPDR MSCI ACWI ex-US ETF 15.4 30 -5 7.2 -1.3
EELV Invesco S&P Emerging Markets Low Volatility ETF 14.8 29 -4 10.1 +1.6
PIE Invesco DWA Emerging Markets Momentum ETF 14.5 90 -65 4.9 -3.6
OGIG O'Shares Global Internet Giants ETF 14.4 48 -23 0.5 -7.9
VIGI Vanguard International Dividend Appreciation ETF 13.6 20 5 5.5 -3.0
PEK VanEck Vectors ChinaAMC CSI 300 ETF 13.5 60 -35 3.8 -4.6
FLTW Franklin FTSE Taiwan ETF 13.2 19 6 6.2 -2.3
EWT iShares MSCI Taiwan ETF 13.2 59 -34 6.1 -2.4
DINT Davis Select International ETF 12.9 68 -43 5.7 -2.8
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 12.6 18 7 4.8 -3.7
WUGI Esoterica NextG Economy ETF 12.4 75 -50 1.5 -7.0
FLKR Franklin FTSE South Korea ETF 12.1 9 16 8.7 +0.3
AIQ Global X Future Analytics Tech ETF 12.1 68 -43 4.0 -4.5
FNI First Trust Chindia ETF 12.0 60 -35 2.4 -6.0
PGJ Invesco Golden Dragon China ETF 11.8 70 -45 3.3 -5.2
FRDM Freedom 100 Emerging Markets ETF 11.5 49 -24 6.5 -2.0
EWY iShares MSCI South Korea ETF 11.5 59 -34 8.3 -0.2
GBUY Goldman Sachs Motif New Age Consumer ETF 11.5 50 -25 1.7 -6.8
DWLD Davis Select Worldwide ETF 11.4 63 -38 6.3 -2.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.3 61 -36 9.0 +0.5
PNQI Invesco NASDAQ Internet ETF 10.9 60 -35 0.9 -7.5
EMFM Global X MSCI Next Emerging & Frontier ETF 10.8 66 -41 9.0 +0.5
CQQQ Invesco China Technology ETF 10.4 70 -45 6.1 -2.4
JOYY Infusive Compounding Global Equities ETF 10.2 50 -25 3.6 -4.9
BUYZ Franklin Disruptive Commerce ETF 10.0 50 -25 -0.2 -8.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 9.8 60 -35 4.4 -4.1
FEM First Trust Emerging Markets AlphaDEX Fund 9.8 80 -55 13.6 +5.2
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 9.7 20 5 11.6 +3.1
DEM WisdomTree Emerging Markets High Dividend Fund 9.6 63 -38 15.1 +6.6
GIGE SoFi Gig Economy ETF 9.2 59 -34 -0.8 -9.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 9.0 20 5 5.9 -2.6

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%.

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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 13.0 %
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
1.38 CATEGORY
AVERAGE
1.43
 
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.