iShares MSCI Canada ETF
ALTAR
Score™		 8.7% info Recommen-
dation		 NEUTRAL
2023E    2024E
P/E
ratio		 12.3x P/Sales
ratio		 1.5x
P/BV
ratio		 1.8x Div.
yield		 3.6%


  • 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) $3,639
Currency USD
Expense ratio 50 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 89
Wgt avg mkt cap (mns) $8,293
Large cap (>$10bn) 32.0%
Mid cap ($2-10bn) 9.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ROYAL BANK OF CANADA 7.5 %
TORONTO-DOMINION BANK 6.0 %
ENBRIDGE INC 4.4 %
CANADIAN PACIFIC RAILWAY LTD 4.1 %
CANADIAN NATL RAILWAY CO 3.8 %
BANK OF MONTREAL 3.4 %
BANK OF NOVA SCOTIA 3.4 %
CANADIAN NATURAL RESOURCES 3.3 %
SHOPIFY, INC. CLASS A 3.1 %
BROOKFIELD CORP CLASS A 2.4 %
Total 41.5 %

TOP COUNTRY EXPOSURE
CANADA 94.4 %
UNITED STATES 0.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
4.0% -8.9% 6.5% 4.1% 7.6%

Market Correlations
versus... Beta R-squared
S&P500 1.04 84%
MSCI EAFE 1.07 85%
MSCI Emg. Mkts. 0.83 60%

Technical Indicators
Recent close $33.19
30d moving avg. $33.73
Annualized volatility 23.8%
Short interest (ETF) 6.3%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 2,520
Turnover 2.3%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $3,161

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 306 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: 50 bp ALTAR Score™: 8.7%


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 91.4 19 31 8.9 +0.2
FLCA Franklin FTSE Canada ETF 79.4 9 41 9.5 +0.8
PID Invesco International Dividend Achievers ETF 17.5 56 -6 8.3 -0.4
IGRO iShares International Dividend Growth ETF 17.3 15 35 9.4 +0.7
NANR SPDR S&P North American Natural Resources ETF 17.1 35 15 7.6 -1.1
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 13.5 47 3 6.3 -2.4
IDLV Invesco S&P International Developed Low Volatility ETF 12.8 25 25 6.7 -2.0
PIZ Invesco DWA Developed Markets Momentum ETF 12.8 80 -30 6.3 -2.4
VIGI Vanguard International Dividend Appreciation ETF 12.4 15 35 6.6 -2.1
IVRA Invesco Real Assets ESG ETF 12.0 59 -9 7.2 -1.5
IXC iShares Global Energy ETF 11.3 40 10 9.5 +0.8
PXUS Principal International Adaptive Multi-Factor ETF 11.1 24 26 7.7 -1.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 11.0 46 4 10.0 +1.3
CIL VictoryShares International Volatility Weighted Index ETF 10.7 45 5 7.9 -0.8
SCHC Schwab International Small-Cap Equity ETF 10.7 11 39 6.6 -2.1
TPIF Timothy Plan International ETF 10.5 62 -12 7.4 -1.3
FID First Trust S&P International Dividend Aristocrats ETF 10.5 60 -10 11.5 +2.8
GNR SPDR S&P Global Natural Resources ETF 10.4 40 10 10.5 +1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 10.3 25 25 8.9 +0.2
AVIV Avantis International Large Cap Value ETF 10.2 25 25 10.3 +1.6
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 10.1 45 5 10.9 +2.2
IMTM iShares Edge MSCI Intl Momentum Factor ETF 9.7 30 20 8.5 -0.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 9.6 20 30 7.2 -1.5
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 9.6 47 3 5.6 -3.1
WDIV SPDR Global Dividend ETF 9.6 40 10 11.8 +3.1
FICS First Trust International Developed Capital Strength ETF 9.5 70 -20 7.0 -1.7
ISZE iShares Edge MSCI Intl Size Factor ETF 9.4 30 20 7.4 -1.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 9.4 32 18 7.1 -1.6
FIVA Fidelity International Value Factor ETF 9.3 39 11 11.3 +2.6
GLIF AGFiQ Global Infrastructure ETF 9.1 45 5 6.2 -2.5
RDMX SPDR Bloomberg SASB Developed Markets EX US ESG Select ETF 8.8 12 38 7.6 -1.1
BKIE BNY Mellon International Equity ETF 8.8 4 46 8.4 -0.3
IDEV iShares Core MSCI International Developed Markets ETF 8.5 4 46 7.8 -0.9
SHPP Pacer Industrials and Logistics ETF 8.5 60 -10 10.9 +2.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 8.3 29 21 10.1 +1.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 8.2 45 5 9.2 +0.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 8.2 7 43 6.9 -1.8
FIDI Fidelity International High Dividend ETF 8.1 39 11 13.2 +4.5
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 8.0 61 -11 9.3 +0.6
SPDW SPDR Portfolio Developed World ex-US ETF 7.9 4 46 7.6 -1.1
IDMO Invesco S&P International Developed Momentum ETF 7.9 25 25 9.5 +0.8
ENFR Alerian Energy Infrastructure ETF 7.9 35 15 5.2 -3.5
GII SPDR S&P Global Infrastructure ETF 7.9 40 10 4.8 -3.9
IGF iShares Global Infrastructure ETF 7.9 40 10 4.8 -3.9
USAI Pacer American Energy Independence ETF 7.9 75 -25 3.7 -5.0
UMI USCF Midstream Energy Income Fund ETF 7.9 85 -35 3.4 -5.3
VEA Vanguard FTSE Developed Markets ETF 7.8 5 45 8.0 -0.7
MXI iShares Global Materials ETF 7.8 40 10 8.3 -0.4
SCHY Schwab International Dividend Equity ETF 7.7 14 36 9.2 +0.5
QINT American Century Quality Diversified International ETF 7.7 39 11 9.6 +0.9
VYMI Vanguard International High Dividend Yield ETF 7.6 22 28 11.3 +2.6
SCHF Schwab International Equity ETF 7.6 6 44 8.2 -0.5
RNDM First Trust Developed International Equity Select ETF 7.5 65 -15 7.1 -1.6
ABEQ Absolute Core Strategy ETF 7.5 85 -35 5.3 -3.4
AVDE Avantis International Equity ETF 7.5 23 27 9.3 +0.6
WWJD Inspire International ESG ETF 7.3 69 -19 7.6 -1.1
UMMA Wahed Dow Jones Islamic World ETF 7.2 65 -15 5.3 -3.4
INTF iShares Edge MSCI Multifactor Intl ETF 7.0 15 35 9.1 +0.4
ACWX iShares MSCI ACWI ex U.S. ETF 7.0 32 18 8.1 -0.6
CWI SPDR MSCI ACWI ex-US ETF 6.9 30 20 8.1 -0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 6.7 41 9 8.2 -0.5
WKLY SoFi Weekly Dividend ETF 6.7 49 1 9.4 +0.7
FDEV Fidelity Targeted International Factor ETF 6.7 39 11 7.9 -0.8
DWX SPDR S&P International Dividend ETF 6.7 45 5 8.8 +0.1
VRAI Virtus Real Asset Income ETF 6.5 55 -5 8.4 -0.3
IXG iShares Global Financials ETF 6.5 40 10 10.4 +1.7
IQLT iShares Edge MSCI Intl Quality Factor ETF 6.4 30 20 8.2 -0.5
FILL iShares MSCI Global Energy Producers ETF 6.3 39 11 10.5 +1.9
IDHQ Invesco S&P International Developed Quality ETF 6.2 29 21 8.3 -0.4
IPKW Invesco International BuyBack Achievers ETF 6.1 55 -5 11.6 +2.9
IXUS ishares Core MSCI Total International Stock ETF 6.0 7 43 8.0 -0.7
TPYP Tortoise North American Pipeline Fund 5.9 40 10 5.7 -3.0
VXUS Vanguard Total International Stock ETF 5.9 7 43 8.1 -0.6
FNDF Schwab Fundamental International Large Co. Index ETF 5.8 25 25 9.6 +0.9
VSGX Vanguard ESG International Stock ETF 5.7 12 38 7.8 -0.9
ICOW Pacer Developed Markets International Cash Cows 100 ETF 5.7 65 -15 16.8 +8.1
FDT First Trust Developed Markets ex-US Alphadex Fund 5.7 80 -30 11.3 +2.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 5.7 39 11 8.6 -0.1
LVHI Legg Mason International Low Volatility High Dividend ETF 5.6 40 10 9.9 +1.2
VEU Vanguard FTSE All-World ex-US Index Fund 5.6 7 43 8.3 -0.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 5.6 35 15 10.3 +1.7
JZRO Janus Henderson Net Zero Transition Resources ETF 5.5 60 -10 7.7 -1.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 5.5 47 3 11.6 +2.9
FGD First Trust Dow Jones Global Select Dividend Index Fund 5.4 57 -7 14.0 +5.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 5.2 39 11 9.0 +0.3
IDV iShares International Select Dividend ETF 5.1 49 1 16.3 +7.7
IQDF FlexShares International Quality Dividend Index Fund 5.1 47 3 11.9 +3.2
IQIN IQ 500 International ETF 5.0 25 25 8.7 0.0
IQDE FlexShares International Quality Dividend Defensive Index ET 5.0 47 3 10.7 +2.0
RING iShares MSCI Global Gold Miners ETF 4.9 39 11 6.2 -2.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 4.7 12 38 6.7 -2.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 4.7 24 26 8.9 +0.2
SUPL ProShares Supply Chain Logistics ETF 4.5 58 -8 16.3 +7.6
VIDI Vident International Equity Fund 4.4 61 -11 12.3 +3.6
NDIV Amplify Natural Resources Dividend Income ETF 4.3 59 -9 15.8 +7.1
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 4.2 25 25 7.8 -0.9
DFAI Dimensional International Core Equity Market ETF 4.2 18 32 7.9 -0.8
RODE Hartford Multifactor Diversified International ETF 4.1 29 21 13.6 +4.9
SDEI Sound Equity Income ETF 4.1 45 5 10.6 +1.9
VWID Virtus WMC International Dividend ETF 4.1 49 1 10.3 +1.6
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 4.0 75 -25 7.7 -1.0
INFL Horizon Kinetics Inflation Beneficiaries ETF 4.0 85 -35 6.1 -2.6
SUBS Fount Subscription Economy ETF 3.9 70 -20 5.4 -3.3
JIG JPMorgan International Growth ETF 3.9 55 -5 5.2 -3.5
DSTX Distillate International Fundamental Stability & Value ETF 3.8 55 -5 8.6 -0.1
BLES Inspire Global Hope Large Cap ETF 3.7 49 1 7.2 -1.5
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.7 42 8 6.6 -2.1
DEW WisdomTree Global High Dividend Fund 3.6 58 -8 11.0 +2.3
DIHP Dimensional International High Profitability ETF 3.5 29 21 9.0 +0.3
FDNI First Trust Dow Jones International Internet ETF 3.5 65 -15 2.8 -5.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 3.5 20 30 7.5 -1.2
KOCG FIS Knights of Columbus Global Belief ETF 3.5 75 -25 8.0 -0.7
VMAT V-Shares MSCI World ESG Materiality and Carbon Transition ET 3.3 39 11 6.8 -1.9
RAYD Rayliant Quantitative Developed Market Equity ETF 3.3 80 -30 9.5 +0.8
TOK iShares MSCI Kokusai ETF 3.3 25 25 7.0 -1.7
DFIV Dimensional International Value ETF 3.2 30 20 10.0 +1.3
KOKU Xtrackers MSCI Kokusai Equity ETF 3.2 9 41 7.2 -1.5
SLVP iShares MSCI Global Silver Miners ETF 3.2 39 11 3.7 -5.0
ICAP InfraCap Equity Income Fund ETF 3.2 80 -30 11.2 +2.5
BWEB Bitwise Web3 ETF 3.1 85 -35 2.6 -6.1
SPRX Spear Alpha ETF 3.1 75 -25 2.0 -6.7
ARKF ARK Fintech Innovation ETF 3.1 75 -25 -2.3 -11.0
BYOB SoFi Be Your Own Boss ETF 3.1 59 -9 -3.2 -11.9
ARKK ARK Innovation ETF 3.1 75 -25 -7.8 -16.5
ARKW ARK Web x.0 ETF 3.1 83 -33 -4.8 -13.5
GVLU Gotham 1000 Value ETF 3.1 50 0 12.1 +3.4
URTH iShares MSCI World ETF 3.1 24 26 7.1 -1.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 3.1 20 30 12.7 +4.0
EXI iShares Global Industrials ETF 3.1 40 10 6.5 -2.2
JSTC Adasina Social Justice All Cap Global ETF 3.1 89 -39 6.7 -2.0
QWLD SPDR MSCI World StrategicFactors ETF 3.1 30 20 7.6 -1.1
PNQI Invesco NASDAQ Internet ETF 3.1 60 -10 3.4 -5.3
FYLD Cambria Foreign Shareholder Yield ETF 3.0 59 -9 14.1 +5.4
DFIC Dimensional International Core Equity 2 ETF 3.0 23 27 8.4 -0.3
ERSX ERShares NextGen Entrepreneurs ETF 3.0 75 -25 6.8 -1.9
BLLD JPMorgan Sustainable Infrastructure ETF 3.0 49 1 5.5 -3.2
XNTK SPDR NYSE Technology ETF 3.0 35 15 5.3 -3.4
ACWF iShares MSCI Global Multifactor ETF 2.9 35 15 9.8 +1.2
IVLU iShares Edge MSCI Intl Value Factor ETF 2.9 30 20 12.1 +3.5
IMFL Invesco International Developed Dynamic Multifactor ETF 2.8 34 16 11.2 +2.5
ACWI iShares MSCI ACWI ETF 2.8 32 18 7.2 -1.5
CGXU Capital Group International Focus Equity ETF 2.7 54 -4 4.3 -4.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.7 31 19 8.9 +0.2
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 2.6 45 5 7.9 -0.8
JXI iShares Global Utilities ETF 2.6 40 10 6.4 -2.3
FTRI First Trust Indxx Global Natural Resources Income ETF 2.5 70 -20 21.2 +12.5
SIMS SPDR S&P Kensho Intelligent Structures ETF 2.5 45 5 0.1 -8.6
ECLN First Trust EIP Carbon Impact ETF 2.5 95 -45 4.6 -4.1
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 2.5 45 5 4.8 -3.9
IQM Franklin Intelligent Machines ETF 2.4 50 0 4.1 -4.6
CGGR Capital Group Growth ETF 2.4 39 11 5.0 -3.7
RFDI First Trust Riverfront Dynamic Developed International ETF 2.4 83 -33 12.3 +3.6
VT Vanguard Total World Stock ETF 2.4 7 43 7.3 -1.4
FPXI First Trust International Equity Opportunities ETF 2.4 70 -20 -0.6 -9.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 2.4 9 41 7.0 -1.7
RVRB Reverb ETF 2.3 30 20 6.7 -2.0
CGGO Capital Group Global Growth Equity ETF 2.2 47 3 4.9 -3.8
FTAG First Trust Indxx Global Agriculture ETF 2.2 70 -20 10.3 +1.6
IVEG iShares Emergent Food and AgTech Multisector ETF 2.2 47 3 9.0 +0.3
BECO BlackRock Future Climate and Sustainable Economy ETF 2.2 70 -20 5.0 -3.7
VEGI iShares MSCI Global Agriculture Producers ETF 2.2 39 11 9.0 +0.3
COPX Global X Copper Miners ETF 2.2 65 -15 8.1 -0.6
PICK iShares MSCI Global Metals & Mining Producers ETF 2.2 39 11 12.8 +4.1
ION ProShares S&P Global Core Battery Metals ETF 2.2 58 -8 10.1 +1.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 2.2 42 8 7.1 -1.6
DIVD Altrius Global Dividend ETF 2.2 49 1 12.1 +3.4
AOTG AOT Growth and Innovation ETF 2.1 75 -25 3.7 -5.0
HAP VanEck Natural Resources ETF 2.1 49 1 9.4 +0.7
CVY Invesco Zacks Multi-Asset Income ETF 2.0 100 -50 13.6 +4.9
SFYF SoFi 50 ETF 2.0 29 21 -7.9 -16.6
ANEW ProShares MSCI Transformational Changes ETF 1.9 45 5 6.0 -2.7
MOTG VanEck Morningstar Global Wide Moat ETF 1.9 52 -2 7.1 -1.6
TMFG Motley Fool Global Opportunities ETF 1.9 85 -35 4.5 -4.2
SGDM Sprott Gold Miners ETF 1.9 50 0 5.3 -3.4
GRZZ Grizzle Growth ETF 1.8 75 -25 7.9 -0.8
GCOW Pacer Global High Dividend ETF 1.8 60 -10 16.1 +7.4
MBOX Freedom Day Dividend ETF 1.7 39 11 9.1 +0.4
ACWV iShares MSCI Global Min Vol Factor ETF 1.7 20 30 8.3 -0.4
FNDC Schwab Fundamental International Small Co. Index ETF 1.6 39 11 7.2 -1.5
IXP iShares Global Comm Services ETF 1.5 40 10 8.0 -0.7
EPU iShares MSCI All Peru Capped ETF 1.5 57 -7 5.6 -3.1
MVPS Amplify Thematic All-Stars ETF 1.4 49 1 2.1 -6.6
CGUS Capital Group Core Equity ETF 1.4 33 17 6.7 -2.0
BNE Blue Horizon BNE ETF 1.3 87 -37 5.2 -3.5
VNSE Natixis Vaughan Nelson Select ETF 1.3 80 -30 4.5 -4.2
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 1.3 60 -10 6.5 -2.2
OAIE Optimize AI Smart Sentiment Event-Driven ETF 1.3 100 -50 4.8 -3.9
SETM Sprott Energy Transition Materials ETF 1.2 65 -15 5.4 -3.3
GMET VanEck Green Metals ETF 1.2 59 -9 10.0 +1.3
KCAL Subversive Food Security ETF 1.2 75 -25 10.2 +1.5
IBUY Amplify Online Retail ETF 1.2 65 -15 -4.6 -13.3
CCSO Carbon Collective Climate Solutions U.S. Equity ETF 1.2 35 15 3.5 -5.2
RXI iShares Global Consumer Discretionary ETF 1.2 40 10 6.7 -2.0
NXTG First Trust Indxx NextG ETF 1.2 70 -20 6.9 -1.8
FEMA Procure Disaster Recovery Strategy ETF 1.2 75 -25 5.9 -2.8
IXN iShares Global Tech ETF 1.1 40 10 5.9 -2.8
DTEC ALPS Disruptive Technologies ETF 1.1 50 0 4.5 -4.2
DGT SPDR Global Dow ETF 1.1 50 0 8.4 -0.3
ACTV LeaderShares Activist Leaders ETF 1.1 75 -25 12.1 +3.4
EATZ AdvisorShares Restaurant ETF 1.1 99 -49 -2.9 -11.6
SDG iShares Sustainable MSCI Global Impact ETF 1.0 49 1 7.2 -1.5
AFK VanEck Africa Index ETF 1.0 77 -27 11.6 +2.9
KXI iShares Global Consumer Staples ETF 1.0 40 10 5.7 -3.0
HART IQ Healthy Hearts ETF 1.0 45 5 6.2 -2.5
DINT Davis Select International ETF 0.9 64 -14 8.0 -0.7
DMAT Global X Disruptive Materials ETF 0.9 59 -9 9.5 +0.8
BATT Amplify Lithium & Battery Technology ETF 0.9 59 -9 4.9 -3.8
WLDR Affinity World Leaders Equity ETF 0.9 67 -17 10.6 +1.9
AVDV Avantis International Small Cap Value ETF 0.9 36 14 10.3 +1.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.9 49 1 6.2 -2.5
KOMP SPDR Kensho New Economies Composite ETF 0.9 20 30 -1.3 -10.0
EMLP First Trust North American Energy Infrastructure Fund 0.9 95 -45 5.9 -2.8
UVDV UVA Dividend Value ETF 0.9 80 -30 7.8 -0.9
CIRC JPMorgan Sustainable Consumption ETF 0.8 49 1 5.8 -2.9
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.8 70 -20 3.2 -5.5
GVIP Goldman Sachs Hedge Industry VIP ETF 0.8 45 5 5.6 -3.1
ARB AltShares Merger Arbitrage ETF 0.8 67 -17 7.8 -0.9
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.8 65 -15 9.0 +0.3
NTZG Nuveen Global Net Zero Transition ETF 0.7 55 -5 6.1 -2.6
MEM Matthews Emerging Markets Equity Active ETF 0.7 79 -29 6.8 -1.9
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 0.7 63 -13 5.1 -3.6
AMID Argent Mid Cap ETF 0.7 52 -2 10.7 +2.0
FIVG Defiance Next Gen Connectivity ETF 0.7 30 20 8.0 -0.7
DKRB Subversive Decarbonization ETF 0.6 75 -25 5.1 -3.6
SAMT Strategas Macro Thematic Opportunities ETF 0.6 65 -15 4.2 -4.5
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 0.6 85 -35 9.0 +0.3
URA Global X Uranium ETF 0.6 69 -19 3.0 -5.7
HAUZ Xtrackers International Real Estate ETF 0.6 10 40 9.3 +0.6
XT iShares Exponential Technologies ETF 0.6 46 4 3.8 -4.9
FRNW Fidelity Clean Energy ETF 0.6 39 11 2.0 -6.7
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 0.6 75 -25 5.9 -2.8
ICLN iShares Global Clean Energy ETF 0.6 40 10 3.6 -5.1
DMDV AAM S&P Developed Markets High Dividend Value ETF 0.6 39 11 18.9 +10.2
IVES Wedbush ETFMG Global Cloud Technology ETF 0.6 68 -18 4.1 -4.6
FCLD Fidelity Cloud Computing ETF 0.6 39 11 4.9 -3.8
CIBR First Trust NASDAQ CEA Cybersecurity ETF 0.6 60 -10 5.1 -3.6
QQJG Invesco ESG NASDAQ Next Gen 100 ETF 0.6 20 30 5.5 -3.2
QQQJ Invesco NASDAQ Next Gen 100 ETF 0.6 15 35 4.5 -4.2
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF 0.5 50 0 3.7 -5.0
JIDA JPMorgan ActiveBuilders International Equity ETF 0.4 25 25 7.6 -1.1
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 0.4 40 10 10.6 +1.9
PPA Invesco Aerospace & Defense ETF 0.4 61 -11 4.5 -4.2
SAGP Strategas Global Policy Opportunities ETF 0.4 65 -15 7.7 -1.0
KLDW Gavekal Knowledge Leaders Developed World ETF 0.4 75 -25 5.3 -3.4
DFIS Dimensional International Small Cap ETF 0.4 39 11 6.4 -2.3
ACES ALPS Clean Energy ETF 0.3 55 -5 -2.4 -11.1
FAN First Trust Global Wind Energy ETF 0.3 62 -12 5.0 -3.7
SMOG VanEck Low Carbon Energy ETF 0.3 55 -5 3.4 -5.3
RNRG Global X Renewable Energy Producers ETF 0.3 65 -15 3.8 -4.9
WNDY Global X Wind Energy ETF 0.3 50 0 4.1 -4.6
PRAY FIS Biblically Responsible Risk Managed ETF 0.3 68 -18 7.3 -1.4
BFIT Global X Health & Wellness ETF 0.3 50 0 6.0 -2.7
BCDF Horizon Kinetics Blockchain Development ETF 0.3 85 -35 1.4 -7.3
KOIN Innovation Shares NextGen Protocol ETF 0.3 75 -25 7.6 -1.1
CNRG SPDR S&P Kensho Clean Power ETF 0.3 45 5 2.9 -5.8
REET iShares Global REIT ETF 0.3 14 36 7.5 -1.2
WPS iShares International Developed Property ETF 0.3 48 2 8.1 -0.6
AVRE Avantis Real Estate ETF 0.3 17 33 6.7 -2.0
RWO SPDR Dow Jones Global Real Estate ETF 0.3 50 0 7.1 -1.6
GQRE FlexShares Global Quality Real Estate Index Fund 0.3 45 5 7.7 -1.0
RWX SPDR Dow Jones International Real Estate ETF 0.3 59 -9 6.6 -2.1
ERET iShares Environmentally Aware Real Estate ETF 0.3 30 20 7.6 -1.1
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.3 12 38 10.5 +1.8
IFGL iShares International Developed Real Estate ETF 0.3 48 2 7.9 -0.8
EINC VanEck Energy Income ETF 0.3 46 4 5.3 -3.4
PBD Invesco Global Clean Energy ETF 0.2 75 -25 -1.3 -10.0
PBW Invesco WilderHill Clean Energy ETF 0.2 61 -11 -7.9 -16.6
IWTR iShares MSCI Water Management Multisector ETF 0.2 47 3 5.4 -3.3
GXG Global X MSCI Colombia ETF 0.2 61 -11 16.3 +7.7
DISV Dimensional International Small Cap Value ETF 0.2 42 8 10.3 +1.6
WOOD iShares Global Timber & Forestry ETF 0.2 40 10 11.3 +2.6
AHOY Newday Ocean Health ETF 0.2 75 -25 6.7 -2.0
TEMP JPMorgan Climate Change Solutions ETF 0.2 49 1 4.6 -4.1
CUT Invesco MSCI Global Timber ETF 0.2 60 -10 9.8 +1.1
ERTH Invesco MSCI Sustainable Future ETF 0.2 56 -6 4.4 -4.3
DRLL Strive U.S. Energy ETF 0.2 41 9 7.9 -0.8
EQAL Invesco Russell 1000 Equal Weight ETF 0.2 20 30 7.2 -1.5
DRIV Global X Autonomous & Electric Vehicles ETF 0.2 68 -18 5.0 -3.7
SILJ ETFMG Prime Junior Silver ETF 0.2 69 -19 1.9 -6.8
BYTE Roundhill IO Digital Infrastructure ETF 0.2 76 -26 5.3 -3.4
GENY Principal Millennials Index ETF 0.2 45 5 6.7 -2.0
PSP Invesco Global Listed Private Equity ETF 0.2 144 -94 12.6 +3.9
PEX ProShares Global Listed Private Equity ETF 0.2 341 -291 13.2 +4.5
ROOF IQ US Real Estate Small Cap ETF 0.2 60 -10 7.2 -1.5
RESI Kelly Residential & Apartment Real Estate ETF 0.2 68 -18 5.6 -3.1
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 0.2 95 -45 2.7 -6.0
MOTI VanEck Morningstar International Moat ETF 0.2 57 -7 9.1 +0.4
QQQS Invesco NASDAQ Future Gen 200 ETF 0.2 20 30 -8.3 -17.0
IPAY ETFMG Prime Mobile Payments ETF 0.2 75 -25 8.2 -0.5
IPOS Renaissance International IPO ETF 0.2 80 -30 -35.9 -44.5
BPAY BlackRock Future Financial and Technology ETF 0.2 70 -20 11.9 +3.2
FINX Global X FinTech Thematic ETF 0.2 68 -18 5.2 -3.5
FBCG Fidelity Blue Chip Growth ETF 0.1 59 -9 2.9 -5.8
JRNY ALPS Global Travel Beneficiaries ETF 0.1 65 -15 0.8 -7.9
CRUZ Defiance Hotel Airline and Cruise ETF 0.1 45 5 -7.3 -16.0
JETS US Global Jets ETF 0.1 60 -10 -16.0 -24.7
JMEE JPMorgan Market Expansion Enhanced Equity ETF 0.1 24 26 9.3 +0.6
JEMA JPMorgan Emerging Markets Equity Core ETF 0.1 39 11 8.0 -0.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 0.1 24 26 9.6 +0.9
AMZA InfraCap MLP ETF 0.1 201 -151 3.5 -5.2
JUSA JPMorgan ActiveBuilders U.S. Large Cap Equity ETF 0.0 17 33 6.9 -1.8
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.0 15 35 6.4 -2.3
SPTM SPDR Portfolio Total Stock Market ETF 0.0 3 47 7.0 -1.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.0 12 38 7.3 -1.4
VLU SPDR S&P 1500 Value Tilt ETF 0.0 12 38 8.8 +0.1
BKSE BNY Mellon US Small Cap Core Equity ETF 0.0 4 46 6.5 -2.2

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

  2018 2019 2020 2021 2022 2023E 2024E
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
  2022 2023E 2024E
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:

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 15.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 8.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 CATEGORY
AVERAGE		 1.53
 
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.