iShares MSCI Europe Financials ETF
ALTAR
Score™
10.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
13.9x P/Sales
ratio
1.2x
P/BV
ratio
0.7x Div.
yield
3.5%


  • 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 20, 2010
Assets (mns) $1,083
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 80
Wgt avg mkt cap (mns) $42,592
Large cap (>$10bn) 93.4%
Mid cap ($2-10bn) 6.0%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HSBC HOLDINGS PLC 7.2 %
ALLIANZ SE-REG 6.4 %
ZURICH FINANCIAL SERVICES AG 4.0 %
BNP PARIBAS 3.9 %
BANCO SANTANDER SA 3.6 %
UBS GROUP AG 3.5 %
PRUDENTIAL PLC 3.2 %
AXA SA 2.9 %
MUENCHENER RUECKVER AG-REG 2.6 %
LONDON STOCK EXCHANGE GROUP 2.5 %
Total 39.8 %

TOP COUNTRY EXPOSURE
BRITAIN 26.5 %
SWITZERLAND 15.3 %
GERMANY 13.5 %
FRANCE 10.2 %
SWEDEN 7.4 %
SPAIN 6.3 %
ITALY 6.3 %
NETHERLANDS 4.5 %
FINLAND 3.1 %
BELGIUM 2.8 %

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.
-8.6% -8.6% 1.0% 1.5% 1.4%

Market Correlations
versus... Beta R-squared
S&P500 1.25 64%
MSCI EAFE 1.47 88%
MSCI Emg. Mkts. 1.15 68%

Technical Indicators
Recent close $18.03
30d moving avg. $17.72
Annualized volatility 29.3%
Short interest (ETF) 3.1%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 1,578
Turnover 2.6%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $7,550

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares MSCI Europe Financials ETF 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™: 10.6%


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
(%)
DFAI Dimensional International Core Equity Market ETF 26.3 18 30 6.3 -4.3
IXG iShares Global Financials ETF 21.7 46 2 8.5 -2.1
ZGBR SPDR Solactive United Kingdom ETF 18.3 14 34 6.9 -3.7
EWU iShares MSCI United Kingdom ETF 18.1 51 -3 6.4 -4.2
FLGB Franklin FTSE United Kingdom ETF 16.8 9 39 6.8 -3.8
EFV iShares MSCI EAFE Value ETF 16.2 39 9 8.3 -2.4
IEV iShares Europe ETF 15.5 59 -11 6.2 -4.5
EWL iShares MSCI Switzerland ETF 15.3 51 -3 4.8 -5.9
FLSW Franklin FTSE Switzerland ETF 15.3 9 39 5.2 -5.4
BBEU JPMorgan BetaBuilders Europe ETF 15.1 9 39 6.6 -4.0
FDD First Trust Stoxx European Select Dividend Index Fund 15.0 58 -10 8.7 -2.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 14.8 45 3 5.9 -4.7
FLEE Franklin FTSE Europe ETF 14.7 9 39 6.4 -4.2
FLEH Franklin FTSE Europe Hedged ETF 14.6 9 39 6.4 -4.2
EURZ Xtrackers Eurozone Equity ETF 14.3 9 39 6.4 -4.2
VGK Vanguard FTSE Europe ETF 14.0 8 40 6.7 -3.9
EZU iShares MSCI Eurozone ETF 13.9 51 -3 5.9 -4.7
DBGR Xtrackers MSCI Germany Hedged Equity ETF 13.5 45 3 6.4 -4.2
EWG iShares MSCI Germany ETF 13.5 51 -3 6.4 -4.3
FLGR Franklin FTSE Germany ETF 13.4 9 39 7.0 -3.7
IEUR iShares Core MSCI Europe ETF 13.4 9 39 6.5 -4.1
LEGR First Trust Indxx Innovative Transaction & Process ETF 13.3 65 -17 8.1 -2.5
SPEU SPDR Portfolio Europe ETF 13.3 9 39 6.7 -3.9
FEZ SPDR EURO STOXX 50 ETF 13.1 29 19 6.1 -4.6
ZDEU SPDR Solactive Germany ETF 13.0 14 34 7.1 -3.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 12.6 45 3 7.5 -3.1
FSZ First Trust Switzerland AlphaDEX Fund 12.6 80 -32 4.7 -5.9
DAX Global X DAX Germany ETF 12.4 21 27 7.0 -3.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 12.2 45 3 6.0 -4.7
IVLU iShares Edge MSCI Intl Value Factor ETF 12.0 30 18 9.9 -0.7
EFAS Global X MSCI SuperDividend EAFE ETF 11.7 56 -8 8.0 -2.6
DXGE WisdomTree Germany Hedged Equity Fund 11.2 48 0 7.6 -3.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 11.2 25 23 5.8 -4.8
DMXF iShares ESG Advanced MSCI EAFE ETF 11.2 12 36 6.2 -4.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 10.9 20 28 8.3 -2.3
TPIF Timothy Plan International ETF 10.5 62 -14 6.0 -4.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 10.4 20 28 6.3 -4.3
FKU First Trust United Kingdom AlphaDEX Fund 10.4 80 -32 6.8 -3.8
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 10.1 45 3 9.6 -1.0
NUDM Nuveen ESG International Developed Markets Equity ETF 10.1 40 8 5.9 -4.8
VWID Virtus WMC International Dividend ETF 10.0 49 -1 7.3 -3.3
GXF Global X FTSE Nordic Region ETF 9.7 56 -8 9.3 -1.4
CIL VictoryShares International Volatility Weighted Index ETF 9.7 45 3 6.3 -4.3
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 9.6 45 3 6.3 -4.4
FNDF Schwab Fundamental International Large Co. Index ETF 9.6 25 23 7.6 -3.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 9.6 30 18 5.2 -5.4
EFA iShares MSCI EAFE ETF 9.6 32 16 6.2 -4.4
IQSI IQ Candriam ESG International Equity ETF 9.5 15 33 6.4 -4.3
RESD WisdomTree International ESG Fund 9.4 30 18 6.5 -4.2
ESGD iShares MSCI EAFE ESG Optimized ETF 9.4 20 28 6.1 -4.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 9.3 14 34 6.1 -4.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 9.3 35 13 6.1 -4.6
FLFR Franklin FTSE France ETF 9.2 9 39 6.2 -4.5
JHMD John Hancock Multifactor Developed International ETF 9.2 39 9 6.5 -4.1
EWD iShares MSCI Sweden ETF 9.2 51 -3 10.2 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 9.1 20 28 6.3 -4.3
QEFA SPDR MSCI EAFE Quality Mix ETF 9.1 30 18 6.0 -4.7
EWQ iShares MSCI France ETF 9.1 51 -3 5.7 -4.9
PDEV Principal International Multi-Factor Core Index ETF 9.0 25 23 7.0 -3.6
DTH WisdomTree International High Dividend Fund 9.0 58 -10 8.7 -2.0
BKIE BNY Mellon International Equity ETF 8.9 4 44 6.5 -4.1
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 8.9 35 13 5.9 -4.7
FEP First Trust Europe AlphaDEX Fund 8.7 80 -32 7.4 -3.3
HFXI IQ 50 Percent Hedged FTSE International ETF 8.6 20 28 6.4 -4.2
DGT SPDR Global Dow ETF 8.5 50 -2 6.2 -4.4
FIVA Fidelity International Value Factor ETF 8.4 39 9 8.7 -2.0
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 8.4 7 41 6.5 -4.1
FYLD Cambria Foreign Shareholder Yield ETF 8.2 59 -11 5.6 -5.0
IEFA iShares Core MSCI EAFE ETF 8.1 7 41 6.4 -4.2
INTF iShares Edge MSCI Multifactor Intl ETF 8.1 30 18 7.2 -3.5
MOTI VanEck Vectors Morningstar International Moat ETF 8.0 57 -9 9.3 -1.4
ISZE iShares Edge MSCI Intl Size Factor ETF 8.0 30 18 6.3 -4.4
FEUZ First Trust Eurozone AlphaDEX ETF 8.0 80 -32 6.9 -3.7
UIVM VictoryShares USAA MSCI International Value Momentum ETF 7.8 35 13 7.6 -3.0
SCHF Schwab International Equity ETF 7.7 6 42 6.5 -4.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 7.7 29 19 7.2 -3.4
VSGX Vanguard ESG International Stock ETF 7.6 17 31 6.3 -4.3
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 7.6 61 -13 4.5 -6.1
WWJD Inspire International ESG ETF 7.5 80 -32 5.9 -4.7
IDEV iShares Core MSCI International Developed Markets ETF 7.4 5 43 6.4 -4.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 7.3 47 1 8.0 -2.6
VYMI Vanguard International High Dividend Yield ETF 7.3 27 21 8.9 -1.8
VEA Vanguard FTSE Developed Markets ETF 7.0 5 43 6.5 -4.1
FLIY Franklin FTSE Italy ETF 6.8 9 39 7.2 -3.4
EWI iShares MSCI Italy ETF 6.8 51 -3 6.5 -4.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 6.8 25 23 6.0 -4.7
FGD First Trust Dow Jones Global Select Dividend Index Fund 6.7 59 -11 10.0 -0.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 6.7 20 28 9.4 -1.3
SPDW SPDR Portfolio Developed World ex-US ETF 6.6 4 44 6.2 -4.4
RFDI First Trust Riverfront Dynamic Developed International ETF 6.5 83 -35 5.1 -5.6
IDOG ALPS International Sector Dividend Dogs ETF 6.4 50 -2 8.1 -2.5
IQDF FlexShares International Quality Dividend Index Fund 6.4 47 1 7.8 -2.8
FIDI Fidelity International High Dividend ETF 6.3 39 9 10.1 -0.5
EWP iShares MSCI Spain ETF 6.3 51 -3 7.6 -3.0
DOL WisdomTree International LargeCap Dividend Fund 6.2 48 0 7.1 -3.5
DWM WisdomTree International Equity Fund 5.9 48 0 7.1 -3.5
ACWX iShares MSCI ACWI ex U.S. ETF 5.9 32 16 6.3 -4.4
RFEU First Trust Riverfront Dynamic Europe ETF 5.8 83 -35 5.6 -5.1

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 Europe Financials ETF
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 7.4 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 10.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.61 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.