iShares MSCI Italy ETF
ALTAR
Score™		 8.7% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 13.8x P/Sales
ratio		 1.3x
P/BV
ratio		 4.7x Div.
yield		 3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Italy Index Fund objective seeks to provide investment results that correspond to the performance of the Italian market, as measured by the MSCI Italy Index. The Fund invests in a

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Mar 12, 1996
Assets (mns) $708
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 Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 26
Wgt avg mkt cap (mns) $62,568
Large cap (>$10bn) 94.5%
Mid cap ($2-10bn) 5.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
UNICREDIT S.P.A. 15.4 %
INTESA SANPAOLO S.P.A. 12.9 %
ENEL SPA 11.2 %
FERRARI NV 5.6 %
LEONARDO SPA 4.7 %
ASSICURAZIONI GENERALI 4.6 %
PRYSMIAN SPA 4.5 %
ENI SPA 4.4 %
STELLANTIS NV 3.8 %
BANCA MONTE DEI PASCHI DI SIENA SP 3.1 %
Total 70.3 %

TOP COUNTRY EXPOSURE
ITALY 91.7 %
BRITAIN 3.4 %
LUXEMBOURG 1.6 %








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.
55.7% 55.7% 17.1% 10.7% 6.7%

Market Correlations
versus... Beta R-squared
S&P500 0.74 50%
MSCI EAFE 1.12 83%
MSCI Emg. Mkts. 0.82 50%

Technical Indicators
Recent close $54.92
30d moving avg. $54.15
Annualized volatility 18.3%
Short interest (ETF) 5.8%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 269
Turnover 2.1%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $1,688

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 220 potential alternatives to the iShares MSCI Italy ETF ETF based on the alternatives' overlap in portfolio holdings with EWI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWI Expense: 50 bp ALTAR Score™: 8.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWI
Ticker Fund
Name		 Overlap1
vs EWI
(%)		 Expense
ratio
(bp)		 Savings
vs EWI
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWI
(%)
JIVE JPMorgan International Value ETF 52.2 55 -5 9.6 +0.9
EFAS Global X MSCI SuperDividend EAFE ETF 10.8 57 -7 7.7 -1.0
FEUZ First Trust Eurozone AlphaDEX ETF 10.1 80 -30 6.5 -2.1
EUFN iShares MSCI Europe Financials ETF 9.7 51 -1 6.8 -1.9
IDV iShares International Select Dividend ETF 9.0 51 -1 9.4 +0.8
EZU iShares MSCI Eurozone ETF 8.8 52 -2 5.7 -3.0
SCHY Schwab International Dividend Equity ETF 8.1 14 36 8.8 +0.1
FEZ SPDR EURO STOXX 50 ETF 7.9 29 21 5.6 -3.1
JHID John Hancock International High Dividend ETF 7.8 46 4 8.3 -0.4
DTH WisdomTree International High Dividend Fund 7.2 58 -8 7.4 -1.2
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 7.1 45 5 6.0 -2.7
DIVI Franklin International Core Dividend Tilt Index ETF 7.0 9 41 6.9 -1.8
VWID Virtus WMC International Dividend ETF 7.0 49 1 7.4 -1.3
SMOG VanEck Low Carbon Energy ETF 6.8 61 -11 1.4 -7.2
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 6.8 58 -8 7.3 -1.4
FINE Themes European Luxury ETF 6.7 35 15 6.4 -2.2
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 6.3 58 -8 3.8 -4.9
FEP First Trust Europe AlphaDEX Fund 6.2 80 -30 6.9 -1.8
IDOG ALPS International Sector Dividend Dogs ETF 5.9 50 0 10.7 +2.0
IDMO Invesco S&P International Developed Momentum ETF 5.9 25 25 5.1 -3.6
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 5.8 80 -30 5.5 -3.2
POW VistaShares Electrification Supercycle ETF 5.8 75 -25 2.8 -5.9
IMOM Alpha Architect International Quantitative Momentum ETF 5.7 49 1 3.8 -4.8
LVHI Franklin International Low Volatility High Dividend Index ET 5.4 40 10 9.1 +0.5
PPIE Putnam PanAgora ESG International Equity ETF 5.4 49 1 6.9 -1.8
JXI iShares Global Utilities ETF 5.3 43 7 5.3 -3.4
TPIF Timothy Plan International ETF 5.3 62 -12 5.4 -3.3
FIDI Fidelity International High Dividend ETF 5.1 18 32 7.4 -1.3
IPKW Invesco International BuyBack Achievers ETF 5.1 55 -5 7.9 -0.8
DOL WisdomTree International LargeCap Dividend Fund 5.1 48 2 6.1 -2.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 5.0 25 25 6.4 -2.3
FDD First Trust Stoxx European Select Dividend Index Fund 4.9 58 -8 9.8 +1.1
IMTM iShares MSCI Intl Momentum Factor ETF 4.9 30 20 4.7 -4.0
UIVM VictoryShares International Value Momentum ETF 4.9 35 15 7.5 -1.2
IEV iShares Europe ETF 4.8 67 -17 5.7 -2.9
EFV iShares MSCI EAFE Value ETF 4.6 34 16 7.7 -0.9
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 4.5 75 -25 6.5 -2.2
IQDF FlexShares International Quality Dividend Index Fund 4.5 47 3 7.5 -1.1
BBEU JPMorgan BetaBuilders Europe ETF 4.5 9 41 6.2 -2.5
VGK Vanguard FTSE Europe ETF 4.4 6 44 6.4 -2.3
INEQ Columbia International Equity Income ETF 4.4 45 5 7.5 -1.2
FLEE Franklin FTSE Europe ETF 4.3 9 41 6.3 -2.4
IEUR iShares Core MSCI Europe ETF 4.3 11 39 6.3 -2.4
SPEU SPDR Portfolio Europe ETF 4.2 7 43 6.3 -2.4
EUDV ProShares MSCI Europe Dividend Growers ETF 4.2 55 -5 5.4 -3.3
SHLD Global X Defense Tech ETF 4.2 50 0 2.2 -6.4
FAN First Trust Global Wind Energy ETF 4.2 60 -10 3.7 -5.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 4.1 46 4 5.8 -2.8
DWM WisdomTree International Equity Fund 4.1 48 2 6.3 -2.3
IGRO iShares International Dividend Growth ETF 4.1 15 35 6.2 -2.4
GDFN Tema International Defense Innov ETF 4.1 75 -25 2.0 -6.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 4.1 40 10 6.4 -2.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 4.1 47 3 6.9 -1.7
IPAV Global X Infrastructure Development ex-U.S. ETF 4.0 55 -5 5.9 -2.8
RFDI First Trust Riverfront Dynamic Developed International ETF 3.9 83 -33 8.0 -0.7
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.8 70 -20 3.3 -5.4
FYLD Cambria Foreign Shareholder Yield ETF 3.8 59 -9 10.2 +1.6
CIL VictoryShares International Volatility Wtd ETF 3.8 45 5 5.7 -2.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 3.7 80 -30 3.4 -5.3
GCOW Pacer Global Cash Cows Dividend ETF 3.6 60 -10 9.6 +1.0
NUDM Nuveen ESG International Developed Markets Equity ETF 3.6 31 19 5.7 -2.9
IDLV Invesco S&P International Developed Low Volatility ETF 3.5 25 25 6.2 -2.5
DEW WisdomTree Global High Dividend Fund 3.5 58 -8 7.5 -1.2
IVLU iShares MSCI Intl Value Factor ETF 3.5 30 20 8.7 -0.0
FID First Trust S&P International Dividend Aristocrats ETF 3.4 60 -10 7.2 -1.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.3 25 25 6.2 -2.5
VYMI Vanguard International High Dividend Yield ETF 3.2 17 33 8.2 -0.5
DWMF WisdomTree International Multifactor Fund 3.2 38 12 6.4 -2.3
DIM WisdomTree International MidCap Dividend Fund 3.2 58 -8 6.4 -2.2
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 3.1 20 30 5.4 -3.2
EFA iShares MSCI EAFE ETF 3.1 35 15 5.7 -2.9
EFAV iShares MSCI EAFE Min Vol Factor ETF 3.1 22 28 5.6 -3.1
WWJD Inspire International ETF 3.1 80 -30 6.4 -2.3
AIVI WisdomTree International AI Enhanced Value Fund 3.1 58 -8 6.1 -2.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.1 45 5 7.4 -1.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 3.1 50 0 5.4 -3.3
INTF iShares International Equity Factor ETF 3.0 15 35 6.5 -2.1
ESGD iShares ESG Aware MSCI EAFE ETF 3.0 20 30 5.7 -3.0
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.0 35 15 5.7 -3.0
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.0 30 20 6.0 -2.7
ITOL Tema International Durable Quality ETF 3.0 60 -10 4.7 -4.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.0 65 -15 9.7 +1.1
DWX SPDR S&P International Dividend ETF 2.9 45 5 6.8 -1.9
JHMD John Hancock Multifactor Developed International ETF 2.9 39 11 6.5 -2.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.9 14 36 5.5 -3.2
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.8 12 38 5.2 -3.5
IDHQ Invesco S&P International Developed High Quality ETF 2.8 29 21 5.3 -3.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.8 39 11 5.8 -2.9
HFXI IQ FTSE International Equity Currency Neutral ETF 2.7 20 30 5.9 -2.8
IQSI IQ Candriam International Equity ETF 2.7 15 35 5.6 -3.1
FDFF Fidelity Disruptive Finance ETF 2.7 50 0 3.9 -4.7
FNDF Schwab Fundamental International Large Co. Index ETF 2.7 25 25 8.1 -0.5
GSID Goldman Sachs MarketBeta International Equity ETF 2.7 20 30 5.8 -2.8
AVIV Avantis International Large Cap Value ETF 2.7 25 25 7.4 -1.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.7 36 14 5.8 -2.9
HEDJ WisdomTree Europe Hedged Equity Fund 2.7 58 -8 5.6 -3.1
IEFA iShares Core MSCI EAFE ETF 2.7 7 43 6.1 -2.6
NXTG First Trust Indxx NextG ETF 2.7 70 -20 4.4 -4.3
WDIV SPDR S&P Global Dividend ETF 2.7 40 10 8.3 -0.4
STXI Strive International Developed Markets ETF 2.6 29 21 5.6 -3.0
IQLT iShares MSCI Intl Quality Factor ETF 2.6 30 20 5.3 -3.4
DFIV Dimensional International Value ETF 2.6 27 23 8.0 -0.7
QINT American Century Quality Diversified International ETF 2.6 39 11 6.1 -2.5
SCHF Schwab International Equity ETF 2.5 6 44 6.2 -2.5
IGF iShares Global Infrastructure ETF 2.5 41 9 4.4 -4.2
GII SPDR S&P Global Infrastructure ETF 2.5 40 10 4.4 -4.2
RCGE RockCreek Global Equality ETF 2.4 95 -45 6.0 -2.6
IDEV iShares Core MSCI International Developed Markets ETF 2.4 4 46 6.0 -2.6
BKIE BNY Mellon International Equity ETF 2.4 4 46 6.0 -2.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 2.4 9 41 8.3 -0.4
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 2.4 20 30 5.6 -3.1
VEA Vanguard FTSE Developed Markets ETF 2.4 3 47 6.1 -2.6
IXG iShares Global Financials ETF 2.3 42 8 5.9 -2.8
SPDW SPDR Portfolio Developed World ex-US ETF 2.3 3 47 6.0 -2.7
DFIC Dimensional International Core Equity 2 ETF 2.3 23 27 6.3 -2.4
VCLN Virtus Duff & Phelps Clean Energy ETF 2.3 59 -9 3.6 -5.0
DFAI Dimensional International Core Equity Market ETF 2.3 18 32 6.0 -2.7
JIRE JPMorgan International Research Enhanced Equity ETF 2.3 24 26 6.2 -2.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.2 80 -30 7.3 -1.4
JPIN J.P. Morgan Diversified Return International Equity ETF 2.2 37 13 7.2 -1.4
CGIE Capital Group International Equity ETF 2.2 54 -4 4.2 -4.5
OAIM OneAscent International Equity ETF 2.2 95 -45 4.6 -4.1
FGD First Trust Dow Jones Global Select Dividend Index Fund 2.2 56 -6 10.1 +1.4
IVAL Alpha Architect International Quantitative Value ETF 2.2 49 1 8.9 +0.3
FENI Fidelity Enhanced International ETF 2.2 28 22 5.6 -3.1
FDEV Fidelity International Multifactor ETF 2.1 18 32 6.6 -2.1
FICS First Trust International Developed Capital Strength ETF 2.1 70 -20 6.4 -2.2
DIHP Dimensional International High Profitability ETF 2.0 29 21 5.8 -2.9
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 2.0 46 4 5.4 -3.3
FIVA Fidelity International Value Factor ETF 2.0 18 32 8.0 -0.6
ACWX iShares MSCI ACWI ex U.S. ETF 1.9 34 16 6.4 -2.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.9 47 3 5.8 -2.9
AVSD Avantis Responsible International Equity ETF 1.9 23 27 4.6 -4.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.9 39 11 6.8 -1.9
CWI SPDR MSCI ACWI ex-US ETF 1.8 30 20 6.4 -2.2
VEU Vanguard FTSE All-World ex-US Index Fund 1.8 4 46 6.8 -1.9
CGXU Capital Group International Focus Equity ETF 1.8 54 -4 4.7 -4.0
DFSI Dimensional International Sustainability Core 1 ETF 1.7 24 26 5.4 -3.2
AVDE Avantis International Equity ETF 1.7 23 27 6.3 -2.4
OEFA ALPS O’Shares International Developed Quality Dividend ETF 1.7 48 2 4.6 -4.1
VXUS Vanguard Total International Stock ETF 1.7 5 45 6.8 -1.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.7 41 9 6.4 -2.3
EFG iShares MSCI EAFE Growth ETF 1.7 36 14 3.6 -5.0
DMXF iShares ESG Advanced MSCI EAFE ETF 1.7 12 38 5.0 -3.7
PBD Invesco Global Clean Energy ETF 1.7 75 -25 0.6 -8.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.6 18 32 6.4 -2.2
IXUS iShares Core MSCI Total International Stock ETF 1.6 7 43 6.7 -2.0
IXC iShares Global Energy ETF 1.6 44 6 9.1 +0.5
VSGX Vanguard ESG International Stock ETF 1.6 10 40 6.6 -2.1
BLES Inspire Global Hope ETF 1.6 61 -11 6.0 -2.7
DXIV Dimensional International Vector Equity ETF 1.6 34 16 6.6 -2.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.5 30 20 6.6 -2.1
GLOF iShares Global Equity Factor ETF 1.5 20 30 5.9 -2.8
TTAI FCF International Quality ETF 1.5 59 -9 6.5 -2.2
BINV Brandes International ETF 1.5 70 -20 8.2 -0.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.4 24 26 6.4 -2.3
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.4 65 -15 4.0 -4.7
DGT State Street SPDR Global Dow ETF 1.3 50 0 5.9 -2.7
DSTX Distillate International Fundamental Stability & Value ETF 1.3 55 -5 6.7 -2.0
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 1.3 25 25 5.4 -3.2
DISV Dimensional International Small Cap Value ETF 1.3 42 8 7.9 -0.7
KNO AXS Knowledge Leaders ETF 1.3 78 -28 5.0 -3.7
RXI iShares Global Consumer Discretionary ETF 1.2 41 9 7.1 -1.5
XT iShares Exponential Technologies ETF 1.2 46 4 4.2 -4.5
NATO Themes Transatlantic Defense ETF 1.2 35 15 1.5 -7.1
IQRA IQ CBRE Real Assets ETF 1.1 65 -15 5.3 -3.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 1.1 32 18 5.5 -3.2
DRIV Global X Autonomous & Electric Vehicles ETF 1.1 68 -18 4.0 -4.6
WLDR Affinity World Leaders Equity ETF 1.0 67 -17 6.4 -2.3
CZAR Themes Natural Monopoly ETF 0.9 35 15 4.9 -3.8
QWLD SPDR MSCI World StrategicFactors ETF 0.9 30 20 5.1 -3.6
WTRE WisdomTree New Economy Real Estate Fund 0.9 58 -8 4.7 -4.0
SRVR Pacer Data & Infrastructure Real Estate ETF 0.9 55 -5 4.1 -4.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.9 20 30 4.8 -3.9
ESGG FlexShares STOXX Global ESG Select Index Fund 0.8 42 8 4.7 -4.0
DTAN Sparkline International Intangible Value ETF 0.8 55 -5 7.4 -1.3
TOK iShares MSCI Kokusai ETF 0.8 26 24 4.3 -4.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.8 42 8 5.5 -3.2
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.8 60 -10 3.2 -5.5
GNR SPDR S&P Global Natural Resources ETF 0.8 40 10 9.0 +0.3
URTH iShares MSCI World ETF 0.8 24 26 4.4 -4.3
DFIS Dimensional International Small Cap ETF 0.8 39 11 6.2 -2.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.8 58 -8 5.8 -2.9
KOKU Xtrackers MSCI Kokusai Equity ETF 0.8 9 41 4.5 -4.1
JIG JPMorgan International Growth ETF 0.8 55 -5 3.9 -4.7
FDIG Fidelity Crypto Industry and Digital Payments ETF 0.7 39 11 -0.8 -9.4
BPAY BlackRock Future Financial and Technology ETF 0.7 70 -20 5.8 -2.9
FINX Global X FinTech ETF 0.7 68 -18 2.6 -6.0
IPAY ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund 0.7 75 -25 5.0 -3.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 41 4.9 -3.8
ACWI iShares MSCI ACWI ETF 0.7 32 18 4.7 -4.0
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.7 58 -8 5.8 -2.9
GEW Cambria Global EW ETF 0.6 29 21 5.3 -3.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.6 46 4 8.2 -0.5
VT Vanguard Total World Stock ETF 0.6 6 44 5.1 -3.6
IQDG WisdomTree International Quality Dividend Growth Fund 0.6 42 8 6.0 -2.7
IMFL Invesco International Developed Dynamic Multifactor ETF 0.6 34 16 5.0 -3.7
EXI iShares Global Industrials ETF 0.6 42 8 3.6 -5.1
FNDC Schwab Fundamental International Small Co. Index ETF 0.6 39 11 5.2 -3.4
CGDG Capital Group Dividend Growers ETF 0.6 47 3 5.3 -3.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.6 12 38 4.3 -4.3
ICPY Tweedy, Browne International Insider Value ETF 0.6 80 -30 9.9 +1.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.6 29 21 6.9 -1.8
KLMT Invesco MSCI Global Climate 500 ETF 0.5 10 40 5.0 -3.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.5 49 1 6.1 -2.6
VIDI Vident International Equity Strategy ETF 0.5 61 -11 9.2 +0.5
HART IQ Healthy Hearts ETF 0.5 45 5 5.4 -3.3
UFO Procure Space ETF 0.5 75 -25 0.0 -8.7
UMMA Wahed Dow Jones Islamic World ETF 0.5 65 -15 3.8 -4.8
COPY Tweedy, Browne Insider + Value ETF 0.5 80 -30 10.2 +1.6
JSTC Adasina Social Justice All Cap Global ETF 0.5 89 -39 4.2 -4.5
CARZ First Trust NASDAQ Global Auto Index Fund 0.5 70 -20 3.3 -5.3
CCNR ALPS CoreCommodity Natural Resources ETF 0.4 39 11 7.3 -1.4
ISCF iShares International SmallCap Equity Factor ETF 0.3 23 27 7.3 -1.4
VIGI Vanguard International Dividend Appreciation ETF 0.2 10 40 5.7 -3.0
IXP iShares Global Comm Services ETF 0.1 42 8 5.4 -3.3
SDG iShares MSCI Global Sustainable Development Goals ETF 0.1 49 1 4.8 -3.8
WRND IQ Global Equity R&D Leaders ETF 0.1 18 32 6.6 -2.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 30 5.3 -3.3
AVDS Avantis International Small Cap Equity ETF 0.0 30 20 5.9 -2.8

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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 Italy ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 42.7 %
Divided by: Fwd. P/BV 4.7 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		 1.59 CATEGORY
AVERAGE		 1.64
 
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.