iShares MSCI Italy ETF
ALTAR
Score™
9.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
13.3x P/Sales
ratio
0.7x
P/BV
ratio
0.8x Div.
yield
5.0%


  • 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 18, 1996
Assets (mns) $127
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 24
Wgt avg mkt cap (mns) $27,703
Large cap (>$10bn) 73.8%
Mid cap ($2-10bn) 26.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ENEL SPA 21.3 %
INTESA SANPAOLO S.P.A. 8.2 %
ENI SPA 7.8 %
FERRARI NV 5.8 %
UNICREDIT S.P.A. 4.9 %
ASSICURAZIONI GENERALI 4.2 %
SNAM RETE GAS 4.2 %
TERNA SPA 4.2 %
FIAT CHRYSLER AUTOMOBILES NV 4.0 %
ATLANTIA SPA 3.5 %
Total 68.2 %

TOP COUNTRY EXPOSURE
ITALY 88.1 %
BRITAIN 6.7 %
NETHERLANDS 2.7 %
LUXEMBOURG 1.6 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-28.3% -22.2% -4.0% -1.6% 2.8%

Market Correlations
versus... Beta R-squared
S&P500 0.93 48%
MSCI EAFE 1.26 77%
MSCI Emg. Mkts. 0.97 71%

Technical Indicators
Recent close $20.84
30d moving avg. $20.53
Annualized volatility 22.5%
Short interest (ETF) 14.2%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 571
Turnover 9.4%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $1,448

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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: 49 bp ALTAR Score™: 9.6%


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
(%)
FLIY Franklin FTSE Italy ETF 83.6 9 40 9.3 -0.3
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 7.6 70 -21 4.9 -4.7
DMDV AAM S&P Developed Markets High Dividend Value ETF 6.8 39 10 12.3 +2.7
EUFN iShares MSCI Europe Financials ETF 6.7 48 1 13.9 +4.3
EZU iShares MSCI Eurozone ETF 6.5 49 0 7.7 -1.9
GII SPDR S&P Global Infrastructure ETF 6.3 40 9 5.9 -3.7
IGF iShares Global Infrastructure ETF 6.3 46 3 5.8 -3.8
GVAL Cambria Global Value ETF 6.1 69 -20 12.8 +3.2
JXI iShares Global Utilities ETF 5.7 46 3 6.3 -3.3
FPXE First Trust IPOX Europe Equity Opportunities ETF 5.7 70 -21 3.1 -6.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 5.6 45 4 7.6 -2.0
EURZ Xtrackers Eurozone Equity ETF 5.5 9 40 8.1 -1.5
INFR Legg Mason Global Infrastructure ETF 5.5 40 9 6.7 -2.9
FDD First Trust Stoxx European Select Dividend Index Fund 5.2 57 -8 14.1 +4.5
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 4.9 30 19 8.2 -1.4
DOO WisdomTree International Dividend ex-Financials Fund 4.7 58 -9 9.7 +0.1
FEUZ First Trust Eurozone AlphaDEX ETF 4.7 80 -31 8.8 -0.8
EFAS Global X MSCI SuperDividend EAFE ETF 4.5 55 -6 11.5 +1.9
FEZ SPDR EURO STOXX 50 ETF 4.5 29 20 8.2 -1.4
SCID Global X Scientific Beta Europe ETF 4.4 38 11 7.8 -1.8
JPEU JPMorgan Diversified Return Europe Equity ETF 4.3 37 12 7.6 -2.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 4.1 25 24 7.4 -2.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.8 47 2 7.1 -2.5
IDOG ALPS International Sector Dividend Dogs ETF 3.8 50 -1 12.3 +2.7
FIVA Fidelity International Value Factor ETF 3.7 39 10 11.7 +2.1
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 3.7 45 4 11.2 +1.6
DTH WisdomTree DEFA Equity Income Fund 3.6 58 -9 10.8 +1.2
IDV iShares International Select Dividend ETF 3.6 49 0 14.1 +4.5
IMOM Alpha Architect International Quantitative Momentum ETF 3.5 59 -10 4.6 -5.0
EFV iShares MSCI EAFE Value ETF 3.5 39 10 11.5 +1.9
OEUR O'shares FTSE Europe Quality Dividend ETF 3.4 48 1 7.1 -2.5
IQIN IQ 500 International ETF 3.4 25 24 10.5 +0.9
FDEV Fidelity Targeted International Factor ETF 3.4 39 10 7.1 -2.5
DWX SPDR S&P International Dividend ETF 3.3 45 4 8.7 -0.9
FLEE Franklin FTSE Europe ETF 3.2 9 40 7.8 -1.8
BBEU JPMorgan BetaBuilders Europe ETF 3.1 9 40 8.1 -1.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 3.1 30 19 7.6 -2.0
FLEH Franklin FTSE Europe Hedged ETF 3.1 9 40 7.8 -1.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 3.1 58 -9 11.7 +2.1
IEV iShares Europe ETF 3.1 59 -10 7.6 -2.0
DBEU Xtrackers MSCI Europe Hedged Equity ETF 3.1 45 4 7.4 -2.2
IVLU iShares Edge MSCI Intl Value Factor ETF 3.0 30 19 12.8 +3.2
TPIF Timothy Plan International ETF 3.0 62 -13 7.8 -1.8
RFEU First Trust Riverfront Dynamic Europe ETF 2.9 83 -34 5.5 -4.1
UIVM VictoryShares USAA MSCI International Value Momentum ETF 2.9 35 14 9.6 -0.0
FAN First Trust Global Wind Energy ETF 2.9 60 -11 7.0 -2.6
VGK Vanguard FTSE Europe ETF 2.9 8 41 8.2 -1.4
LVHI Legg Mason International Low Volatility High Dividend ETF 2.8 40 9 11.3 +1.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.8 65 -16 13.3 +3.7
IEUR iShares Core MSCI Europe ETF 2.8 9 40 8.1 -1.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.8 45 4 10.2 +0.6
EUMV iShares Edge MSCI Min Vol Europe ETF 2.8 25 24 6.0 -3.6
FEU SPDR Portfolio Europe ETF 2.8 9 40 8.1 -1.5
FNDF Schwab Fundamental International Large Co. Index ETF 2.6 25 24 9.9 +0.4
IDMO Invesco S&P International Developed Momentum ETF 2.6 25 24 4.9 -4.7
QINT American Century Quality Diversified International ETF 2.6 39 10 6.6 -3.0
GCOW Pacer Global High Dividend ETF 2.5 60 -11 11.7 +2.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 2.5 46 3 5.8 -3.8
DOL WisdomTree International LargeCap Dividend Fund 2.4 48 1 9.4 -0.2
HEDJ WisdomTree Europe Hedged Equity Fund 2.4 58 -9 7.9 -1.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.4 25 24 7.5 -2.1
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 2.4 48 1 0.0 -9.6
VYMI Vanguard International High Dividend Yield ETF 2.3 32 17 11.4 +1.8
FEP First Trust Europe AlphaDEX Fund 2.3 80 -31 9.0 -0.6
FYLD Cambria Foreign Shareholder Yield ETF 2.3 59 -10 10.8 +1.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 2.2 20 29 10.4 +0.8
IGRO iShares International Dividend Growth ETF 2.2 22 27 9.0 -0.6
MOTI VanEck Vectors Morningstar International Moat ETF 2.2 57 -8 9.4 -0.2
RFDI First Trust Riverfront Dynamic Developed International ETF 2.2 83 -34 7.0 -2.6
JHMD John Hancock Multifactor Developed International ETF 2.1 45 4 8.3 -1.3
IQSI IQ Candriam ESG International Equity ETF 2.0 15 34 8.1 -1.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 2.0 29 20 8.9 -0.7
EFA iShares MSCI EAFE ETF 2.0 32 17 8.0 -1.6
HFXI IQ 50 Percent Hedged FTSE International ETF 2.0 20 29 8.4 -1.2
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 1.9 50 -1 4.8 -4.8
VEGI iShares MSCI Global Agriculture Producers ETF 1.9 39 10 6.7 -2.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.9 35 14 7.8 -1.8
ISZE iShares Edge MSCI Intl Size Factor ETF 1.9 30 19 7.8 -1.8
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 1.9 35 14 9.5 -0.1
DWM WisdomTree International Equity Fund 1.9 48 1 9.2 -0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 1.8 7 42 8.5 -1.1
PDEV Principal International Multi-Factor Core Index ETF 1.8 25 24 8.8 -0.8
IXC iShares Global Energy ETF 1.8 46 3 5.9 -3.7
RBIN Nationwide Risk-Based International Equity ETF 1.8 42 7 6.9 -2.7
NUDM Nuveen ESG International Developed Markets Equity ETF 1.8 40 9 7.6 -2.0
DIM WisdomTree International MidCap Dividend Fund 1.7 58 -9 8.7 -0.9
SMEZ SPDR EURO STOXX Small Cap ETF 1.7 45 4 6.0 -3.6
IEFA iShares Core MSCI EAFE ETF 1.7 7 42 8.1 -1.5
SCHF Schwab International Equity ETF 1.7 6 43 8.2 -1.4
ISDX Invesco Strategic Developed ex-US ETF 1.7 23 26 8.5 -1.1
CIL VictoryShares International Volatility Weighted Index ETF 1.7 45 4 7.5 -2.1
JPIN JPMorgan Diversified Return International Equity ETF 1.6 38 11 8.8 -0.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.6 29 20 9.7 +0.1
FILL iShares MSCI Global Energy Producers ETF 1.6 39 10 6.7 -2.9
IDEV iShares Core MSCI International Developed Markets ETF 1.6 5 44 8.1 -1.5
IDY Pacific Global International Equity Income ETF 1.6 39 10 9.8 +0.2
MVIN Natixis Seeyond International Minimum Volatility ETF 1.6 55 -6 6.1 -3.5
ESGD iShares MSCI EAFE ESG Optimized ETF 1.6 20 29 8.0 -1.6
WLDR Affinity World Leaders Equity ETF 1.6 47 2 10.2 +0.6

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 Italy ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.4 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 9.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.58
 
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.