iShares MSCI Europe Financial Sector
ALTAR
Score™
8.9% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
10.4x P/Sales
ratio
1.3x
P/BV
ratio
0.9x Div.
yield
5.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Europe Financial Sector Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks results that correspond generally to the price and yield performance of the MSCI Europe Financial Sector Index.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Jan 22, 2010
Assets (mns) $745
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 84
Wgt avg mkt cap (mns) $49,299
Large cap (>$10bn) 91.2%
Mid cap ($2-10bn) 8.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HSBC HOLDINGS PLC 9.4 %
ALLIANZ SE-REG 6.3 %
BANCO SANTANDER SA 4.3 %
BNP PARIBAS 3.8 %
ZURICH FINANCIAL SERVICES AG 3.6 %
AXA SA 3.3 %
LLOYDS BANKING GROUP PLC 3.1 %
UBS GROUP AG 2.9 %
ING GROEP NV 2.8 %
PRUDENTIAL PLC 2.7 %
Total 42.3 %

TOP COUNTRY EXPOSURE
BRITAIN 28.0 %
SWITZERLAND 13.9 %
GERMANY 12.4 %
FRANCE 11.1 %
SPAIN 8.2 %
ITALY 6.7 %
NETHERLANDS 5.1 %
SWEDEN 5.0 %
FINLAND 2.6 %
BELGIUM 2.3 %

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.
12.8% 5.2% -0.4% -- 1.9%

Market Correlations
versus... Beta R-squared
S&P500 0.93 41%
MSCI EAFE 1.39 77%
MSCI Emg. Mkts. 0.92 56%

Technical Indicators
Recent close $18.82
30d moving avg. $18.14
Annualized volatility 17.5%
Short interest (ETF) 1.6%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1,059
Turnover 2.7%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $5,084

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EUFN Expense: 48 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EUFN
Ticker Fund
Name
Overlap1
vs EUFN
(%)
Expense
ratio
(bp)
Savings
vs EUFN
(bp)
ALTAR
Score™
(%)
ALTAR
vs EUFN
(%)
RIDV Invesco International Ultra Dividend Revenue ETF 27.3 42 6 9.0 +0.1
FDD First Trust STOXX European Select Dividend 22.3 57 -9 7.6 -1.3
IXG iShares S&P Global Financial Sector 22.2 46 2 8.3 -0.6
EFV iShares MSCI EAFE Value 20.1 38 10 8.9 +0.0
QGBR SPDR MSCI UK Quality Mix 19.6 14 34 7.8 -1.1
EWU iShares MSCI United Kingdom 19.6 47 1 7.4 -1.5
FLGB Franklin FTSE United Kingdom 18.4 9 39 7.9 -1.1
IEV iShares S&P Europe 350 17.6 59 -11 6.4 -2.5
FEZ SPDR DJ Euro Stoxx 50 17.4 29 19 6.9 -2.0
HDEF Xtrackers MSCI EAFE High Div Yld Hedged 17.3 20 28 8.5 -0.4
CID Victory CEMP International High Div Volatility Wtd 17.3 45 3 8.9 -0.1
BBEU JPMorgan BetaBuilders Europe 17.1 9 39 6.9 -2.0
DBEU Xtrackers Europe Hedged 17.1 45 3 6.4 -2.5
FLEE Franklin FTSE Europe 16.9 9 39 6.9 -2.0
EZU iShares MSCI Euro Monetary Union 16.9 47 1 6.8 -2.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 16.9 30 18 6.7 -2.3
EURZ Xtrackers Eurozone Equity 16.9 9 39 7.1 -1.9
FLEH Franklin FTSE Europe Hedged 16.7 9 39 6.9 -2.1
FGD First Trust DJ Global Select Dividend 16.3 58 -10 9.2 +0.3
GSEU Goldman Sachs ActiveBeta Europe Equity 16.1 25 23 6.5 -2.5

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 Europe Financial Sector
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 8.0 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 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.