iShares MSCI Germany Small Cap
ALTAR
Score™
5.9% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
23.5x P/Sales
ratio
0.9x
P/BV
ratio
1.7x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Germany Small Cap Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Germany Small Cap Index.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Jan 26, 2012
Assets (mns) $34
Currency USD
Expense ratio 59 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 114
Wgt avg mkt cap (mns) $2,932
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 71.5%
Small cap (<$2bn) 27.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LEG IMMOBILIEN AG 5.0 %
SCOUT24 AG 4.4 %
RHEINMETALL AG 3.2 %
OSRAM LICHT AG 3.1 %
DIALOG SEMICONDUCTOR PLC 2.8 %
BECHTLE AG 2.7 %
MORPHOSYS AG 2.6 %
CTS EVENTIM 2.5 %
NEMETSCHEK AG 2.4 %
PROSIEBEN SAT.1 MEDIA AG-PFD 2.4 %
Total 31.1 %

TOP COUNTRY EXPOSURE
GERMANY 81.4 %
BRITAIN 2.7 %
LUXEMBOURG 2.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.4% 12.0% 10.6% -- 12.5%

Market Correlations
versus... Beta R-squared
S&P500 1.02 56%
MSCI EAFE 1.35 81%
MSCI Emg. Mkts. 0.98 68%

Technical Indicators
Recent close $57.40
30d moving avg. $56.56
Annualized volatility 16.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $521

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EWGS Expense: 59 bp ALTAR Score™: 5.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWGS
Ticker Fund
Name
Overlap1
vs EWGS
(%)
Expense
ratio
(bp)
Savings
vs EWGS
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWGS
(%)
FGM First Trust Germany 18.5 80 -21 8.7 +2.8
SMEZ SPDR Euro Stoxx Small Cap 13.3 46 13 5.3 -0.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 12.7 58 1 7.4 +1.5
IEUS iShares MSCI Europe Small Cap 9.2 40 19 6.0 +0.1
FEUZ First Trust Eurozone AlphaDex 7.6 80 -21 6.9 +1.1
DFE WisdomTree Europe Small Cap Dividend 7.0 58 1 8.7 +2.9
IFEU iShares FTSE EPRA/NAREIT Europe 6.0 48 11 5.7 -0.2
DDEZ WisdomTree Dynamic Currency Hedged Europe Equity 5.7 43 16 6.7 +0.8
FEP First Trust Europe AlphaDEX 5.7 80 -21 7.2 +1.4
SCZ iShares MSCI EAFE Small Cap 5.0 39 20 6.0 +0.1
SCHC Schwab Intl Small-Cap Equity 4.1 12 47 6.4 +0.5
AVDV Avantis International Small Cap Value 4.1 36 23 7.0 +1.2
DLS WisdomTree Int'l SmallCap Dividend 4.0 58 1 8.1 +2.2
IDV iShares DJ Int'l Select Dividend 3.9 49 10 8.4 +2.6
DDLS WisdomTree Dynamic Currency Hedged Int'l SmallCap 3.7 43 16 8.3 +2.4
ROBO Robo Global Robotics & Automation 3.4 95 -36 3.7 -2.2
DXGE WisdomTree Germany Hedged Equity 3.3 48 11 9.6 +3.8
VSS Vanguard FTSE All World ex-US Small Cap 3.1 12 47 6.5 +0.6
FDT First Trust Developed Markets ex-US AlphaDEX 3.0 80 -21 8.0 +2.2
FLGR Franklin FTSE Germany 2.9 9 50 8.0 +2.1

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

  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 Germany Small Cap
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 10.3 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.