iShares MSCI Hong Kong ETF
ALTAR
Score™
6.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.4x P/Sales
ratio
2.7x
P/BV
ratio
1.2x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Hong Kong Index fund seeks investment results that correspond to the price and yield performance of the MSCI Hong Kong Index. The index consists primarily of large cap stocks traded on the Hong Kong Stock Exchange.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 12, 1996
Assets (mns) $1,345
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 Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 41
Wgt avg mkt cap (mns) $47,984
Large cap (>$10bn) 90.8%
Mid cap ($2-10bn) 8.0%
Small cap (<$2bn) 0.0%
Developed mkts 97.4%
Emerging mkts 2.6%

TOP TEN HOLDINGS
AIA GROUP LTD 24.6 %
HONG KONG EXCHANGES & CLEAR 13.1 %
CK HUTCHISON HOLDINGS LTD 3.9 %
LINK REIT 3.6 %
SUN HUNG KAI PROPERTIES 3.5 %
CLP HOLDINGS LTD 3.5 %
HONG KONG & CHINA GAS 3.3 %
GALAXY ENTERTAINMENT GROUP L 3.3 %
TECHTRONIC INDUSTRIES CO 3.3 %
CK ASSET HOLDINGS LIMITED 3.1 %
Total 65.3 %

TOP COUNTRY EXPOSURE
HONG KONG 93.1 %
MACAU 2.6 %
CHINA 2.0 %
BERMUDA 2.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.6% -12.7% 2.2% 6.0% 5.0%

Market Correlations
versus... Beta R-squared
S&P500 0.69 41%
MSCI EAFE 0.85 52%
MSCI Emg. Mkts. 0.75 68%

Technical Indicators
Recent close $22.28
30d moving avg. $21.72
Annualized volatility 18.5%
Short interest (ETF) 10.5%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 4,931
Turnover 8.2%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $1,687

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares MSCI Hong Kong ETF ETF based on the alternatives' overlap in portfolio holdings with EWH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWH Expense: 49 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWH
Ticker Fund
Name
Overlap1
vs EWH
(%)
Expense
ratio
(bp)
Savings
vs EWH
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWH
(%)
ZHOK SPDR Solactive Hong Kong ETF 80.8 14 35 6.8 -0.1
FLHK Franklin FTSE Hong Kong ETF 80.4 9 40 8.0 +1.2
EPP iShares MSCI Pacific ex-Japan ETF 28.4 48 1 6.5 -0.3
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 25.2 19 30 6.8 -0.0
SCIX Global X Scientific Beta Asia ex-Japan ETF 24.0 38 11 6.6 -0.2
FHK First Trust Hong Kong AlphaDEX Fund 19.3 80 -31 8.9 +2.1
DVYA iShares Asia/Pacific Dividend ETF 15.5 49 0 12.8 +5.9
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 15.0 30 19 8.5 +1.7
AIA iShares Asia 50 ETF 14.3 50 -1 7.9 +1.1
IFGL iShares International Developed Real Estate ETF 12.1 48 1 7.7 +0.8
DRW WisdomTree Global ex-US Real Estate Fund 11.3 58 -9 10.6 +3.8
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 10.5 80 -31 6.5 -0.4
WPS iShares International Developed Property ETF 10.4 48 1 7.9 +1.1
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 9.2 10 39 9.2 +2.4
IDV iShares International Select Dividend ETF 8.5 49 0 10.0 +3.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 7.9 68 -19 7.0 +0.1
IPAC iShares Core MSCI Pacific ETF 7.6 9 40 7.2 +0.4
IDLV Invesco S&P International Developed Low Volatility ETF 7.5 25 24 6.7 -0.2
EFAV iShares Edge MSCI Min Vol EAFE ETF 7.5 20 29 5.4 -1.4
VNQI Vanguard Global ex-US Real Estate Index Fund 7.4 12 37 10.1 +3.3
FLAX Franklin FTSE Asia Ex Japan ETF 7.4 19 30 7.6 +0.8
VGFO Virtus WMC Global Factor Opportunities ETF 7.4 49 0 7.8 +1.0
BJK VanEck Vectors Gaming ETF 7.3 66 -17 5.0 -1.8
EFAD ProShares MSCI EAFE Dividend Growers ETF 7.2 50 -1 6.0 -0.8
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 6.8 32 17 6.3 -0.6
GQRE FlexShares Global Quality Real Estate Index Fund 6.7 45 4 6.9 +0.1
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 6.5 20 29 9.4 +2.6
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 6.5 80 -31 7.3 +0.5
FIDI Fidelity International High Dividend ETF 6.4 39 10 11.0 +4.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 6.4 30 19 6.0 -0.9
FID First Trust S&P International Dividend Aristocrats ETF 6.2 60 -11 9.3 +2.4
VPL Vanguard FTSE Pacific ETF 6.0 8 41 7.5 +0.6
RWX SPDR Dow Jones International Real Estate ETF 6.0 59 -10 6.8 -0.1
FGD First Trust Dow Jones Global Select Dividend Index Fund 5.9 59 -10 10.9 +4.0
DWMF WisdomTree International Multifactor Fund 5.6 38 11 6.6 -0.2
DWX SPDR S&P International Dividend ETF 5.5 45 4 7.6 +0.7
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 5.5 60 -11 7.2 +0.3
WDIV SPDR Global Dividend ETF 5.4 40 9 9.4 +2.5
MOTI VanEck Vectors Morningstar International Moat ETF 5.4 57 -8 8.4 +1.5
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 4.9 83 -34 5.3 -1.5
TPIF Timothy Plan International ETF 4.8 62 -13 6.2 -0.7
LVHI Legg Mason International Low Volatility High Dividend ETF 4.7 40 9 9.0 +2.2
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 4.6 45 4 9.8 +2.9
PQIN PGIM QMA Strategic Alpha International Equity ETF 4.5 29 20 7.6 +0.7
IDY Pacific Global International Equity Income ETF 4.3 39 10 7.9 +1.1
QEFA SPDR MSCI EAFE Quality Mix ETF 4.3 30 19 6.8 -0.1
GCOW Pacer Global High Dividend ETF 4.3 60 -11 10.2 +3.3
IDOG ALPS International Sector Dividend Dogs ETF 4.2 50 -1 10.6 +3.8
FIVA Fidelity International Value Factor ETF 4.2 39 10 9.8 +3.0
JPIN JPMorgan Diversified Return International Equity ETF 3.7 37 12 7.8 +1.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 3.7 20 29 10.8 +4.0
ISZE iShares Edge MSCI Intl Size Factor ETF 3.6 30 19 7.2 +0.4
DINT Davis Select International ETF 3.6 68 -19 5.7 -1.1
MVIN Natixis Seeyond International Minimum Volatility ETF 3.5 56 -7 5.3 -1.6
EFG iShares MSCI EAFE Growth ETF 3.5 40 9 4.5 -2.4
EFA iShares MSCI EAFE ETF 3.3 32 17 6.9 +0.1
JHMD John Hancock Multifactor Developed International ETF 3.2 39 10 7.3 +0.5
IXG iShares Global Financials ETF 3.2 46 3 9.7 +2.9
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 3.2 30 19 0.0 -6.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.2 35 14 6.7 -0.1
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 3.2 35 14 6.8 -0.0
ESGD iShares MSCI EAFE ESG Optimized ETF 3.1 20 29 6.8 -0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 3.1 20 29 7.0 +0.1
GSID Goldman Sachs MarketBeta International Equity ETF 3.0 20 29 7.2 +0.4
CIL VictoryShares International Volatility Weighted Index ETF 3.0 45 4 6.5 -0.3
EFV iShares MSCI EAFE Value ETF 3.0 39 10 9.4 +2.6
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 3.0 45 4 6.5 -0.3
INFR Legg Mason Global Infrastructure ETF 3.0 40 9 6.0 -0.8
IGRO iShares International Dividend Growth ETF 2.9 22 27 7.8 +1.0
VIGI Vanguard International Dividend Appreciation ETF 2.9 25 24 5.5 -1.3
DOL WisdomTree International LargeCap Dividend Fund 2.9 48 1 8.5 +1.6
HFXI IQ 50 Percent Hedged FTSE International ETF 2.9 20 29 7.3 +0.5
NUDM Nuveen ESG International Developed Markets Equity ETF 2.9 40 9 6.7 -0.1
IEFA iShares Core MSCI EAFE ETF 2.8 7 42 7.2 +0.4
INTF iShares Edge MSCI Multifactor Intl ETF 2.8 30 19 7.7 +0.8
IVLU iShares Edge MSCI Intl Value Factor ETF 2.8 30 19 11.3 +4.5
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 2.8 7 42 7.4 +0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 2.7 35 14 8.4 +1.5
DWM WisdomTree International Equity Fund 2.7 48 1 8.2 +1.4
IQSI IQ Candriam ESG International Equity ETF 2.7 15 34 7.2 +0.4
DMDV AAM S&P Developed Markets High Dividend Value ETF 2.6 39 10 11.1 +4.2
SCHF Schwab International Equity ETF 2.6 6 43 7.2 +0.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.6 47 2 12.4 +5.6
RFDI First Trust Riverfront Dynamic Developed International ETF 2.6 83 -34 5.6 -1.3
ACWV iShares Edge MSCI Min Vol Global ETF 2.5 20 29 5.5 -1.3
FDEV Fidelity Targeted International Factor ETF 2.5 39 10 6.5 -0.4
BKIE BNY Mellon International Equity ETF 2.5 4 45 7.2 +0.4
IDEV iShares Core MSCI International Developed Markets ETF 2.5 5 44 7.1 +0.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.5 25 24 6.5 -0.4
KOIN Innovation Shares NextGen Protocol ETF 2.4 95 -46 4.1 -2.7
SDG iShares Sustainable MSCI Global Impact ETF 2.4 49 0 5.5 -1.4
RWO SPDR Dow Jones Global Real Estate ETF 2.3 50 -1 7.0 +0.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 2.3 29 20 8.5 +1.6
DIM WisdomTree International MidCap Dividend Fund 2.3 58 -9 7.5 +0.7
IQDE FlexShares International Quality Dividend Defensive Index Fd 2.3 47 2 11.9 +5.1
ESGN Columbia Sustainable International Equity Income ETF 2.3 45 4 10.4 +3.6
UIVM VictoryShares USAA MSCI International Value Momentum ETF 2.3 35 14 8.5 +1.7
RNDM Developed International Equity Select ETF 2.2 65 -16 6.2 -0.6
VEA Vanguard FTSE Developed Markets ETF 2.2 5 44 7.3 +0.5

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

  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

Content on this tab for subscribers only

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 Hong Kong 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 8.2 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 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.