iShares MSCI Australia
ALTAR
Score™
5.4% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
18.1x P/Sales
ratio
2.8x
P/BV
ratio
2.2x Div.
yield
4.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Australia Index fund seeks investment results that correspond to the price and yield performance of the MSCI Australia Index. The index consists primarily of large cap stocks traded in the Australian market.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 18, 1996
Assets (mns) $1,718
Currency USD
Expense ratio 47 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 70
Wgt avg mkt cap (mns) $49,709
Large cap (>$10bn) 77.6%
Mid cap ($2-10bn) 22.4%
Small cap (<$2bn) 0.0%
Developed mkts 99.3%
Emerging mkts 0.7%

TOP TEN HOLDINGS
COMMONWEALTH BANK OF AUSTRAL 9.8 %
CSL LIMITED 9.1 %
BHP BILLITON LTD 7.9 %
WESTPAC BANKING CORP 5.8 %
NATIONAL AUSTRALIA BANK LTD 4.8 %
AUST AND NZ BANKING GROUP 4.8 %
WESFARMERS LIMITED 3.4 %
WOOLWORTHS LIMITED 3.2 %
MACQUARIE GROUP LTD 3.1 %
TRANSURBAN GROUP 2.8 %
Total 54.8 %

TOP COUNTRY EXPOSURE
AUSTRALIA 98.4 %
IRELAND 0.9 %









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.
22.3% 22.3% 5.2% 4.7% 7.5%

Market Correlations
versus... Beta R-squared
S&P500 0.60 48%
MSCI EAFE 0.67 49%
MSCI Emg. Mkts. 0.50 47%

Technical Indicators
Recent close $23.54
30d moving avg. $22.75
Annualized volatility 10.5%
Short interest (ETF) 4.5%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 2,992
Turnover 4.1%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $2,640

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EWA Expense: 47 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWA
Ticker Fund
Name
Overlap1
vs EWA
(%)
Expense
ratio
(bp)
Savings
vs EWA
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWA
(%)
FLAU Franklin FTSE Australia 90.9 9 38 5.8 +0.4
EPP iShares MSCI Pacific ex-Japan 56.9 48 -1 6.0 +0.6
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan 55.5 19 28 6.2 +0.7
FAUS First Trust Australia 29.8 80 -33 4.9 -0.5
SCIX Global X Scientific Beta Asia ex-Japan 28.4 38 9 5.8 +0.4
AXJL WisdomTree Asia Pacific Ex-Japan 22.6 48 -1 8.5 +3.1
DVYA iShares Asia/Pacific Dividend 30 17.1 49 -2 8.0 +2.6
FPA First Trust Asia Pac Ex-Japan AlphaDEX 16.5 80 -33 8.2 +2.8
IPAC iShares Core MSCI Pacific 15.3 9 38 7.2 +1.7
RFAP First Trust Riverfront Dynamic Asia Pacific 14.8 83 -36 7.0 +1.5
VPL Vanguard Pacific ETF 14.0 9 38 7.4 +2.0
PICK iShares MSCI Global Select Metals & Mining 13.3 39 8 6.6 +1.2
IDHD Invesco S&P Intl Developed High Div Low Volatility 12.8 30 17 6.4 +0.9
IDV iShares DJ Int'l Select Dividend 12.4 49 -2 8.3 +2.9
INTF iShares FactorSelect MSCI International 11.4 30 17 7.7 +2.3
IDMO Invesco S&P Int'l Dev. Momentum 11.3 25 22 4.4 -1.0
DWMF WisdomTree International Multifactor Fund 11.3 38 9 6.0 +0.6
IDOG ALPS International Sector Dividend Dogs 11.1 50 -3 7.9 +2.5
WWJD Inspire International ESG 10.5 80 -33 6.7 +1.3
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 10.0 24 23 6.8 +1.4

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Australia
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.3 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.93 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.