iShares MSCI Japan
ALTAR
Score™
7.4% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.6x P/Sales
ratio
0.9x
P/BV
ratio
1.3x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Japan Index fund seeks investment results that correspond to the price and yield performance of the MSCI Japan Index. The index consists primarily of large cap stocks traded in the Japanese market.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Mar 18, 1996
Assets (mns) $13,932
Currency USD
Expense ratio 47 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 323
Wgt avg mkt cap (mns) $37,481
Large cap (>$10bn) 76.5%
Mid cap ($2-10bn) 23.4%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TOYOTA MOTOR CORP 4.4 %
SONY CORP 2.5 %
SOFTBANK GROUP CORP. 1.9 %
KEYENCE CORP 1.8 %
MITSUBISHI UFJ FINANCIAL GRO 1.8 %
TAKEDA PHARMACEUTICAL CO LTD 1.6 %
KDDI CORPORATION 1.4 %
RECRUIT HOLDINGS CO LTD 1.4 %
SUMITOMO MITSUI FINANCIAL GR 1.3 %
HONDA MOTOR CO LTD 1.2 %
Total 19.4 %

TOP COUNTRY EXPOSURE
JAPAN 99.5 %










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.
19.3% 19.3% 7.4% 6.0% 0.9%

Market Correlations
versus... Beta R-squared
S&P500 0.79 70%
MSCI EAFE 0.91 78%
MSCI Emg. Mkts. 0.63 64%

Technical Indicators
Recent close $59.69
30d moving avg. $59.81
Annualized volatility 11.4%
Short interest (ETF) 1.8%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 6,737
Turnover 2.9%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $12,577

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EWJ Expense: 47 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWJ
Ticker Fund
Name
Overlap1
vs EWJ
(%)
Expense
ratio
(bp)
Savings
vs EWJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWJ
(%)
DBJP Xtrackers MSCI Japan Hedged 94.8 45 2 7.3 -0.2
BBJP JPMorgan BetaBuilders Japan 93.8 19 28 7.7 +0.2
QJPN SPDR MSCI Japan Quality Mix 92.6 14 33 7.8 +0.4
HFXJ IQ 50 Percent Hedged FTSE Japan 90.6 30 17 7.5 +0.1
FLJP Franklin FTSE Japan 90.5 9 38 7.8 +0.4
FLJH Franklin FTSE Japan Hedged 89.0 9 38 7.7 +0.2
JPXN iShares JPX-Nikkei 400 85.1 48 -1 7.4 +0.0
JPN Xtrackers Japan JPX-Nikkei 400 Equity 84.6 9 38 7.8 +0.4
GSJY Goldman Sachs ActiveBeta Japan Equity 80.9 25 22 7.5 +0.1
EWJE iShares MSCI Japan Equal Weighted 58.1 15 32 7.0 -0.4
IPAC iShares Core MSCI Pacific 57.1 9 38 7.2 -0.3
DXJ WisdomTree Japan Hedged Equity 56.9 48 -1 8.2 +0.8
EWJV iShares MSCI Japan Value 54.2 15 32 10.4 +3.0
VPL Vanguard Pacific ETF 49.3 9 38 7.5 +0.1
SCIJ Global X Scientific Beta Japan 47.0 39 8 6.9 -0.5
JPMV iShares MSCI Japan Min Volatility 46.4 30 17 6.8 -0.7
RFAP First Trust Riverfront Dynamic Asia Pacific 44.3 83 -36 7.0 -0.5
IVLU iShares MSCI Int'l Developed Value Factor 36.0 30 17 10.2 +2.8
REFA Invesco International Revenue ETF 31.7 42 5 8.6 +1.2
PQIN PGIM QMA Strategic Alpha International Equity 29.5 29 18 7.0 -0.4

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

Content on this tab for subscribers only

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 Japan
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 9.6 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.