iShares MSCI Canada ETF
ALTAR
Score™
6.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
1.7x
P/BV
ratio
1.6x Div.
yield
3.5%


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

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 12, 1996
Assets (mns) $2,055
Currency USD
Expense ratio 49 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 86
Wgt avg mkt cap (mns) $41,903
Large cap (>$10bn) 84.6%
Mid cap ($2-10bn) 15.3%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SHOPIFY, INC. CLASS A 7.5 %
ROYAL BANK OF CANADA 7.4 %
TORONTO-DOMINION BANK 6.2 %
CANADIAN NATL RAILWAY CO 4.4 %
ENBRIDGE INC 4.0 %
BANK OF NOVA SCOTIA 3.8 %
BARRICK GOLD CORP 3.7 %
BROOKFIELD ASSET MANAGE-CL A 3.4 %
TRANSCANADA CORP 3.1 %
CANADIAN PACIFIC RAILWAY LTD 2.7 %
Total 46.1 %

TOP COUNTRY EXPOSURE
CANADA 99.4 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.6% -7.5% 1.6% 2.6% 8.6%

Market Correlations
versus... Beta R-squared
S&P500 1.05 81%
MSCI EAFE 1.15 84%
MSCI Emg. Mkts. 0.83 70%

Technical Indicators
Recent close $25.92
30d moving avg. $25.75
Annualized volatility 19.8%
Short interest (ETF) 5.3%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 3,035
Turnover 3.8%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $9,345

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares MSCI Canada ETF ETF based on the alternatives' overlap in portfolio holdings with EWC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWC Expense: 49 bp ALTAR Score™: 6.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWC
Ticker Fund
Name
Overlap1
vs EWC
(%)
Expense
ratio
(bp)
Savings
vs EWC
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWC
(%)
BBCA JPMorgan BetaBuilders Canada ETF 94.2 19 30 7.2 +0.2
QCAN SPDR MSCI Canada Quality Mix ETF 91.9 14 35 7.2 +0.2
FLCA Franklin FTSE Canada ETF 88.6 9 40 7.4 +0.5
PID Invesco International Dividend Achievers ETF 31.2 54 -5 9.8 +2.9
FCAN First Trust Canada AlphaDex Fund 27.6 80 -31 4.9 -2.1
IGRO iShares International Dividend Growth ETF 17.7 22 27 8.2 +1.2
NANR SPDR S&P North American Natural Resources ETF 17.2 35 14 3.5 -3.5
AIIQ AI Powered International Equity ETF 13.1 79 -30 4.7 -2.3
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 13.0 47 2 6.5 -0.4
INFR Legg Mason Global Infrastructure ETF 12.2 40 9 6.2 -0.8
IXC iShares Global Energy ETF 12.2 46 3 5.9 -1.0
ISDX Invesco Strategic Developed ex-US ETF 11.7 23 26 7.7 +0.7
INTF iShares Edge MSCI Multifactor Intl ETF 11.6 30 19 8.1 +1.1
ABEQ Absolute Core Strategy ETF 11.6 85 -36 4.7 -2.2
GUNR Flexshares Morningstar Global Upstream Natural Resources 11.2 46 3 5.9 -1.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 11.0 30 19 4.4 -2.5
UIVM VictoryShares USAA MSCI International Value Momentum ETF 10.9 35 14 9.0 +2.0
CIL VictoryShares International Volatility Weighted Index ETF 10.9 45 4 6.8 -0.1
DWX SPDR S&P International Dividend ETF 10.6 45 4 8.1 +1.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 10.5 46 3 5.4 -1.6
IDMO Invesco S&P International Developed Momentum ETF 10.4 26 23 4.6 -2.3
SGDM Sprott Gold Miners ETF 10.3 50 -1 2.8 -4.1
GLIF AGFiQ Global Infrastructure ETF 9.9 45 4 5.3 -1.7
PDEV Principal International Multi-Factor Core Index ETF 9.9 25 24 8.1 +1.1
FID First Trust S&P International Dividend Aristocrats ETF 9.9 60 -11 10.0 +3.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 9.8 29 20 8.8 +1.9
WDIV SPDR Global Dividend ETF 9.2 40 9 10.0 +3.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 9.2 32 17 6.4 -0.5
TPYP Tortoise North American Pipeline Fund 8.9 40 9 6.0 -0.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 8.9 20 29 11.3 +4.4
MXI iShares Global Materials ETF 8.9 46 3 6.2 -0.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 8.8 25 24 6.7 -0.2
ENFR Alerian Energy Infrastructure ETF 8.7 65 -16 5.2 -1.8
USAI Pacer American Energy Independence ETF 8.7 75 -26 2.7 -4.2
GII SPDR S&P Global Infrastructure ETF 8.7 40 9 5.4 -1.5
IGF iShares Global Infrastructure ETF 8.6 46 3 5.4 -1.6
ISZE iShares Edge MSCI Intl Size Factor ETF 8.5 30 19 7.6 +0.6
GNR SPDR S&P Global Natural Resources ETF 8.3 40 9 6.7 -0.2
RING iShares MSCI Global Gold Miners ETF 8.2 39 10 3.4 -3.6
MLPX Global X MLP & Energy Infrastructure ETF 8.1 45 4 3.8 -3.1
FDT First Trust Developed Markets ex-US Alphadex Fund 8.0 80 -31 7.7 +0.8
SCHC Schwab International Small-Cap Equity ETF 8.0 11 38 7.0 +0.0
IDEV iShares Core MSCI International Developed Markets ETF 8.0 5 44 7.4 +0.4
FIDI Fidelity International High Dividend ETF 7.8 39 10 11.2 +4.2
MVIN Natixis Seeyond International Minimum Volatility ETF 7.7 56 -7 5.4 -1.5
PIZ Invesco DWA Developed Markets Momentum ETF 7.7 81 -32 4.3 -2.7
SPDW SPDR Portfolio Developed World ex-US ETF 7.6 4 45 7.3 +0.4
IXG iShares Global Financials ETF 7.6 46 3 10.2 +3.2
AVDE Avantis International Equity ETF 7.5 23 26 8.1 +1.1
LVHI Legg Mason International Low Volatility High Dividend ETF 7.5 40 9 9.3 +2.4
TPIF Timothy Plan International ETF 7.4 62 -13 6.5 -0.5
SCHF Schwab International Equity ETF 7.4 6 43 7.5 +0.6
BKIE BNY Mellon International Equity ETF 7.4 4 45 7.6 +0.7
VEA Vanguard FTSE Developed Markets ETF 7.3 5 44 7.6 +0.7
EMLP First Trust North American Energy Infrastructure Fund 6.8 96 -47 5.7 -1.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 6.8 45 4 9.1 +2.1
CWI SPDR MSCI ACWI ex-US ETF 6.7 30 19 7.4 +0.4
VYMI Vanguard International High Dividend Yield ETF 6.6 32 17 10.4 +3.5
GRES IQ Global Resources ETF 6.5 77 -28 7.7 +0.7
ACWX iShares MSCI ACWI ex U.S. ETF 6.5 32 17 7.5 +0.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 6.5 16 33 7.1 +0.2
FGD First Trust Dow Jones Global Select Dividend Index Fund 6.4 59 -10 11.4 +4.5
FVD First Trust Value Line Dividend Index Fund 6.3 70 -21 6.5 -0.5
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 6.0 11 38 7.0 +0.1
QINT American Century Quality Diversified International ETF 6.0 39 10 5.9 -1.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 5.9 24 25 7.4 +0.4
FNDF Schwab Fundamental International Large Co. Index ETF 5.9 25 24 9.0 +2.0
IQIN IQ 500 International ETF 5.9 25 24 9.1 +2.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 5.8 40 9 7.2 +0.3
VSGX Vanguard ESG International Stock ETF 5.8 17 32 7.4 +0.5
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 5.8 45 4 6.9 -0.1
IDV iShares International Select Dividend ETF 5.7 49 0 10.3 +3.3
IXUS ishares Core MSCI Total International Stock ETF 5.6 9 40 7.6 +0.7
IQLT iShares Edge MSCI Intl Quality Factor ETF 5.6 30 19 6.2 -0.8
LVIN Hartford Multifactor Low Volatility International Equity ETF 5.6 29 20 12.5 +5.6
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 5.6 60 -11 2.5 -4.4
VXUS Vanguard Total International Stock Index Fund 5.5 8 41 7.8 +0.9
VEU Vanguard FTSE All-World ex-US Index Fund 5.5 8 41 7.8 +0.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 5.4 39 10 6.8 -0.2
FIVA Fidelity International Value Factor ETF 5.4 39 10 10.2 +3.3
ACWV iShares Edge MSCI Min Vol Global ETF 5.3 20 29 5.7 -1.2
ESGN Columbia Sustainable International Equity Income ETF 5.2 45 4 10.9 +3.9
VRAI Virtus Real Asset Income ETF 5.1 55 -6 11.3 +4.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 4.9 39 10 8.6 +1.6
VIGI Vanguard International Dividend Appreciation ETF 4.9 25 24 5.7 -1.3
RNDM Developed International Equity Select ETF 4.9 65 -16 6.5 -0.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 4.8 58 -9 8.0 +1.0
FDEV Fidelity Targeted International Factor ETF 4.8 39 10 6.6 -0.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 4.7 47 2 13.0 +6.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 4.4 47 2 12.5 +5.5
IQDF FlexShares International Quality Dividend Index Fund 4.4 47 2 12.6 +5.6
IDHQ Invesco S&P International Developed Quality ETF 4.4 29 20 5.2 -1.8
FILL iShares MSCI Global Energy Producers ETF 4.2 39 10 6.5 -0.4
URA Global X Uranium ETF 4.0 71 -22 4.4 -2.5
ALFA AlphaClone Alternative Alpha ETF 3.9 65 -16 3.4 -3.5
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 3.9 45 4 10.2 +3.3
QWLD SPDR MSCI World StrategicFactors ETF 3.8 30 19 6.2 -0.7
IDLB Invesco FTSE International Low Beta Equal Weight ETF 3.7 45 4 7.4 +0.4
SLVP iShares MSCI Global Silver Miners ETF 3.7 39 10 1.7 -5.3
FYLD Cambria Foreign Shareholder Yield ETF 3.5 59 -10 9.5 +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 MSCI Canada ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.7 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.59
 
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.