iShares MSCI Belgium ETF
ALTAR
Score™		 4.4% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 22.1x P/Sales
ratio		 2.6x
P/BV
ratio		 1.7x Div.
yield		 2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Belgium Investable Market Index Fund is an exchange-traded fund incorporated in the USA. The Fund's objective is to provide investment results that correspond to the performance of publicly traded securities in the Belgium market, as measured by the MSCI Belgium Investable Market Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Mar 12, 1996
Assets (mns) $38
Currency USD
Expense ratio 50 bp
Distributions Semi-annual

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 40
Wgt avg mkt cap (mns) $41,448
Large cap (>$10bn) 62.6%
Mid cap ($2-10bn) 25.8%
Small cap (<$2bn) 8.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ANHEUSER-BUSCH INBEV SA/NV 22.2 %
ARGEN-X SE 12.9 %
UCB SA 9.6 %
KBC GROEP NV 4.5 %
AGEAS 4.1 %
AEDIFICA 3.3 %
GROUPE BRUXELLES LAMBERT SA 3.1 %
ACKERMANS & VAN HAAREN 3.1 %
ELIA SYSTEM OPERATOR SA/NV 2.9 %
WAREHOUSES DE PAUW SCA 2.3 %
Total 68.0 %

TOP COUNTRY EXPOSURE
BELGIUM 81.0 %
NETHERLANDS 12.9 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
9.3% 40.1% 9.4% 7.6% 6.3%

Market Correlations
versus... Beta R-squared
S&P500 0.39 26%
MSCI EAFE 0.71 61%
MSCI Emg. Mkts. 0.52 40%

Technical Indicators
Recent close $23.60
30d moving avg. $25.93
Annualized volatility 15.5%
Short interest (ETF) 1.5%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 47
Turnover 2.9%
Bid/Ask (% of price) 0.30%
ADV underlying (mns) $223

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 213 potential alternatives to the iShares MSCI Belgium ETF ETF based on the alternatives' overlap in portfolio holdings with EWK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWK Expense: 50 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWK
Ticker Fund
Name		 Overlap1
vs EWK
(%)		 Expense
ratio
(bp)		 Savings
vs EWK
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWK
(%)
EUDV ProShares MSCI Europe Dividend Growers ETF 8.7 55 -5 6.0 +1.6
EFAD ProShares MSCI EAFE Dividend Growers ETF 5.3 50 0 6.0 +1.7
AGNG Global X Aging Population ETF 4.6 50 0 4.3 -0.1
HEDJ WisdomTree Europe Hedged Equity Fund 4.2 58 -8 6.4 +2.1
PIEL Pacer International Export Leaders ETF 3.8 60 -10 4.7 +0.3
FMED Fidelity Disruptive Medicine ETF 3.7 50 0 -1.2 -5.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.3 45 5 6.1 +1.8
EZU iShares MSCI Eurozone ETF 3.1 52 -2 6.2 +1.8
IEUS iShares MSCI Europe Small-Cap ETF 3.1 42 8 7.3 +2.9
FEUZ First Trust Eurozone AlphaDEX ETF 2.9 80 -30 7.1 +2.7
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 2.9 65 -15 4.5 +0.1
AIVI WisdomTree International AI Enhanced Value Fund 2.9 58 -8 6.7 +2.3
TINT ProShares Smart Materials ETF 2.8 58 -8 6.2 +1.8
PSP Invesco Global Listed Private Equity ETF 2.8 106 -56 7.2 +2.8
PEX ProShares Global Listed Private Equity ETF 2.8 81 -31 12.5 +8.1
AAUM Tema Alternative Asset Managers ETF 2.8 99 -49 5.6 +1.2
RWX SPDR Dow Jones International Real Estate ETF 2.8 59 -9 7.4 +3.0
DFE WisdomTree Europe SmallCap Dividend Fund 2.8 58 -8 8.0 +3.7
OAIM OneAscent International Equity ETF 2.8 95 -45 5.1 +0.7
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.7 35 15 6.1 +1.7
FEZ SPDR EURO STOXX 50 ETF 2.5 29 21 6.3 +1.9
FDD First Trust Stoxx European Select Dividend Index Fund 2.4 58 -8 10.8 +6.5
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 2.4 80 -30 5.7 +1.3
INEQ Columbia International Equity Income ETF 2.3 45 5 8.0 +3.6
JDOC JPMorgan Healthcare Leaders ETF 2.3 65 -15 3.6 -0.8
IFGL iShares International Developed Real Estate ETF 2.3 48 2 7.5 +3.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.2 65 -15 8.2 +3.8
INDS Pacer Industrial Real Estate ETF 2.1 55 -5 6.7 +2.3
FPXI First Trust International Equity Opportunities ETF 2.1 70 -20 4.6 +0.2
WWJD Inspire International ETF 2.0 80 -30 6.7 +2.3
FEP First Trust Europe AlphaDEX Fund 2.0 80 -30 7.4 +3.1
EFAV iShares MSCI EAFE Min Vol Factor ETF 2.0 22 28 5.7 +1.4
DIM WisdomTree International MidCap Dividend Fund 2.0 58 -8 6.6 +2.3
KXI iShares Global Consumer Staples ETF 1.8 41 9 5.4 +1.0
IEUR iShares Core MSCI Europe ETF 1.8 11 39 6.8 +2.5
VGK Vanguard FTSE Europe ETF 1.8 6 44 7.1 +2.7
BBEU JPMorgan BetaBuilders Europe ETF 1.8 9 41 6.7 +2.3
EFAS Global X MSCI SuperDividend EAFE ETF 1.8 57 -7 7.7 +3.3
DTRE First Trust Alerian Disruptive Technology Real Estate ETF 1.8 60 -10 6.0 +1.6
SPEU SPDR Portfolio Europe ETF 1.8 7 43 6.9 +2.6
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.7 70 -20 4.3 -0.1
EUFN iShares MSCI Europe Financials ETF 1.6 51 -1 7.9 +3.5
HELX Franklin Genomic Advancements ETF 1.6 50 0 -1.4 -5.8
EFG iShares MSCI EAFE Growth ETF 1.6 36 14 4.1 -0.3
FLEE Franklin FTSE Europe ETF 1.6 9 41 6.8 +2.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.6 46 4 6.0 +1.6
SCHC Schwab International Small-Cap Equity ETF 1.6 11 39 7.0 +2.6
NUDM Nuveen ESG International Developed Markets Equity ETF 1.6 31 19 6.1 +1.7
IEV iShares Europe ETF 1.6 67 -17 6.3 +2.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.6 10 40 8.6 +4.2
IDLV Invesco S&P International Developed Low Volatility ETF 1.5 25 25 6.5 +2.1
ICPY Tweedy, Browne International Insider Value ETF 1.5 80 -30 22.9 +18.6
BOAT SonicShares Global Shipping ETF 1.5 69 -19 21.7 +17.3
FID First Trust S&P International Dividend Aristocrats ETF 1.5 60 -10 8.3 +3.9
IVSI Applied Finance IVS International LrgETF 1.4 65 -15 6.5 +2.2
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.4 12 38 8.8 +4.4
DLS WisdomTree International SmallCap Dividend Fund 1.4 58 -8 7.9 +3.5
DMXF iShares ESG Advanced MSCI EAFE ETF 1.4 12 38 5.4 +1.1
AVDV Avantis International Small Cap Value ETF 1.4 36 14 8.3 +4.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.4 12 38 5.7 +1.4
SCZ iShares MSCI EAFE Small-Cap ETF 1.3 40 10 6.6 +2.2
DTH WisdomTree International High Dividend Fund 1.3 58 -8 7.7 +3.3
EFRA iShares Environmental Infrastructure and Industrials ETF 1.3 47 3 5.1 +0.7
DXIV Dimensional International Vector Equity ETF 1.3 34 16 7.0 +2.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.3 49 1 6.4 +2.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 1.3 25 25 6.8 +2.5
MOTG VanEck Morningstar Global Wide Moat ETF 1.3 52 -2 8.1 +3.7
DIVI Franklin International Core Dividend Tilt Index ETF 1.2 9 41 7.1 +2.7
VGSR Vert Global Sustainable Real Estate ETF 1.2 47 3 7.6 +3.3
EV Mast Global Battery Recycling & Production ETF 1.2 65 -15 6.2 +1.9
AVDS Avantis International Small Cap Equity ETF 1.2 30 20 6.5 +2.1
DWMF WisdomTree International Multifactor Fund 1.2 38 12 6.9 +2.6
BMED Future Health ETF 1.2 85 -35 1.2 -3.2
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 1.2 20 30 6.1 +1.7
JHMD John Hancock Multifactor Developed International ETF 1.1 39 11 6.6 +2.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 11 7.5 +3.1
ESGD iShares ESG Aware MSCI EAFE ETF 1.1 20 30 6.2 +1.9
IEFA iShares Core MSCI EAFE ETF 1.1 7 43 6.5 +2.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.1 8 42 6.8 +2.4
COPY Tweedy, Browne Insider + Value ETF 1.1 80 -30 16.1 +11.7
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.1 30 20 6.4 +2.0
WDIV SPDR S&P Global Dividend ETF 1.1 40 10 9.6 +5.2
EFA iShares MSCI EAFE ETF 1.1 35 15 6.2 +1.8
DFIS Dimensional International Small Cap ETF 1.1 39 11 6.6 +2.2
AVRE Avantis Real Estate ETF 1.1 17 33 7.3 +2.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.1 36 14 5.8 +1.4
DWM WisdomTree International Equity Fund 1.1 48 2 6.0 +1.6
CIL VictoryShares International Volatility Wtd ETF 1.1 45 5 5.8 +1.4
STXI Strive International Developed Markets ETF 1.0 29 21 6.1 +1.8
FRGN Horizon International Equity ETF 1.0 75 -25 9.0 +4.6
DFIC Dimensional International Core Equity 2 ETF 1.0 23 27 6.6 +2.3
JSTC Adasina Social Justice All Cap Global ETF 1.0 89 -39 4.9 +0.6
DISV Dimensional International Small Cap Value ETF 1.0 42 8 8.7 +4.3
BATT Amplify Lithium & Battery Technology ETF 1.0 59 -9 2.1 -2.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 1.0 40 10 6.0 +1.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 1.0 58 -8 3.9 -0.5
BLDG Cambria Global Real Estate ETF 1.0 60 -10 12.0 +7.7
BLES Inspire Global Hope ETF 1.0 61 -11 6.2 +1.8
JIRE JPMorgan International Research Enhanced Equity ETF 1.0 24 26 6.3 +1.9
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 1.0 72 -22 2.3 -2.1
IXJ iShares Global Healthcare ETF 1.0 42 8 6.4 +2.0
HFXI IQ FTSE International Equity Currency Neutral ETF 1.0 20 30 6.2 +1.9
BKIE BNY Mellon International Equity ETF 1.0 4 46 6.4 +2.0
CZAR Themes Natural Monopoly ETF 1.0 35 15 5.5 +1.2
IDEV iShares Core MSCI International Developed Markets ETF 1.0 4 46 6.4 +2.1
IMTM iShares MSCI Intl Momentum Factor ETF 1.0 30 20 5.1 +0.8
QINT American Century Quality Diversified International ETF 1.0 39 11 7.1 +2.7
IVLU iShares MSCI Intl Value Factor ETF 1.0 30 20 8.7 +4.3
REET iShares Global REIT ETF 1.0 14 36 7.5 +3.1
VIGI Vanguard International Dividend Appreciation ETF 0.9 10 40 6.4 +2.1
SPDW SPDR Portfolio Developed World ex-US ETF 0.9 3 47 6.4 +2.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.9 47 3 8.1 +3.7
VEA Vanguard FTSE Developed Markets ETF 0.9 3 47 6.5 +2.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.9 20 30 6.3 +1.9
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.9 56 -6 10.3 +5.9
FDRV Fidelity Electric Vehicles and Future Transportation ETF 0.9 39 11 1.2 -3.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.9 25 25 6.6 +2.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.8 80 -30 9.6 +5.2
DOL WisdomTree International LargeCap Dividend Fund 0.8 48 2 6.2 +1.9
SCHF Schwab International Equity ETF 0.8 6 44 6.5 +2.2
IDV iShares International Select Dividend ETF 0.8 51 -1 9.5 +5.2
SDG iShares MSCI Global Sustainable Development Goals ETF 0.8 49 1 4.9 +0.5
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 3 8.3 +3.9
TTAI FCF International Quality ETF 0.8 59 -9 6.6 +2.2
DIHP Dimensional International High Profitability ETF 0.8 29 21 6.1 +1.7
CGIE Capital Group International Equity ETF 0.8 54 -4 5.0 +0.6
FNDC Schwab Fundamental International Small Co. Index ETF 0.8 39 11 7.3 +2.9
DFAI Dimensional International Core Equity Market ETF 0.8 18 32 6.4 +2.1
DFIV Dimensional International Value ETF 0.8 27 23 8.2 +3.9
ERET iShares Environmentally Aware Real Estate ETF 0.8 30 20 7.2 +2.9
PBD Invesco Global Clean Energy ETF 0.8 75 -25 0.3 -4.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.8 24 26 7.2 +2.8
AVSD Avantis Responsible International Equity ETF 0.8 23 27 6.5 +2.1
RWO SPDR Dow Jones Global Real Estate ETF 0.8 50 0 6.8 +2.4
AVIV Avantis International Large Cap Value ETF 0.8 25 25 7.4 +3.0
WDNA WisdomTree BioRevolution Fund 0.8 45 5 -2.4 -6.7
DFSI Dimensional International Sustainability Core 1 ETF 0.8 24 26 6.1 +1.7
AVDE Avantis International Equity ETF 0.8 23 27 6.6 +2.3
DGT State Street SPDR Global Dow ETF 0.8 50 0 6.2 +1.8
TPIF Timothy Plan International ETF 0.7 62 -12 5.9 +1.5
DFGR Dimensional Global Real Estate ETF 0.7 22 28 7.6 +3.2
JIG JPMorgan International Growth ETF 0.7 55 -5 4.0 -0.3
BYRE Principal Real Estate Active Opportunities ETF 0.7 65 -15 7.5 +3.2
IPKW Invesco International BuyBack Achievers ETF 0.7 55 -5 8.5 +4.1
KNO AXS Knowledge Leaders ETF 0.7 78 -28 4.8 +0.4
IXUS iShares Core MSCI Total International Stock ETF 0.7 7 43 7.2 +2.8
VXUS Vanguard Total International Stock ETF 0.7 5 45 7.3 +2.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 5 7.5 +3.1
VSGX Vanguard ESG International Stock ETF 0.7 10 40 7.4 +3.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.7 41 9 6.6 +2.2
ACWX iShares MSCI ACWI ex U.S. ETF 0.6 34 16 7.0 +2.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.6 30 20 7.0 +2.6
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 27 7.7 +3.3
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 20 7.0 +2.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.6 4 46 7.3 +3.0
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.6 80 -30 4.0 -0.4
EFV iShares MSCI EAFE Value ETF 0.6 34 16 8.0 +3.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.6 42 8 4.4 +0.0
FNDF Schwab Fundamental International Large Co. Index ETF 0.6 25 25 8.1 +3.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.6 39 11 6.6 +2.2
IQSI IQ Candriam International Equity ETF 0.6 15 35 6.0 +1.7
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.6 18 32 7.0 +2.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.5 14 36 5.8 +1.4
RCGE RockCreek Global Equality ETF 0.5 95 -45 6.5 +2.1
GWX SPDR S&P International Small Cap ETF 0.5 40 10 6.3 +1.9
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.5 80 -30 7.4 +3.0
WSML iShares MSCI World Small-Cap ETF 0.5 15 35 5.8 +1.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 0.4 58 -8 6.8 +2.4
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.4 20 30 6.0 +1.6
VWID Virtus WMC International Dividend ETF 0.4 49 1 7.7 +3.3
JPIN J.P. Morgan Diversified Return International Equity ETF 0.4 37 13 7.5 +3.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.4 46 4 5.1 +0.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.4 29 21 7.3 +3.0
INTF iShares International Equity Factor ETF 0.4 15 35 6.9 +2.5
GEW Cambria Global EW ETF 0.4 29 21 5.8 +1.4
DTAN Sparkline International Intangible Value ETF 0.4 55 -5 7.7 +3.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 0.4 32 18 5.5 +1.1
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.4 58 -8 5.7 +1.4
IXG iShares Global Financials ETF 0.4 42 8 6.8 +2.4
UMMA Wahed Dow Jones Islamic World ETF 0.4 65 -15 4.3 -0.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.3 20 30 5.8 +1.4
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.3 25 25 5.9 +1.5
DEW WisdomTree Global High Dividend Fund 0.3 58 -8 7.6 +3.2
IQDG WisdomTree International Quality Dividend Growth Fund 0.3 42 8 6.1 +1.7
GQRE FlexShares Global Quality Real Estate Index Fund 0.3 45 5 7.8 +3.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 38 4.9 +0.5
TOK iShares MSCI Kokusai ETF 0.3 26 24 4.7 +0.4
QWLD SPDR MSCI World StrategicFactors ETF 0.3 30 20 5.5 +1.1
KOKU Xtrackers MSCI Kokusai Equity ETF 0.3 9 41 4.9 +0.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.3 9 41 7.9 +3.5
URTH iShares MSCI World ETF 0.3 24 26 4.8 +0.4
VYMI Vanguard International High Dividend Yield ETF 0.3 17 33 8.6 +4.2
KLMT Invesco MSCI Global Climate 500 ETF 0.3 10 40 5.5 +1.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 30 5.3 +0.9
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 16 5.5 +1.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 41 5.4 +1.0
VT Vanguard Total World Stock ETF 0.3 6 44 5.5 +1.2
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.2 +0.8
SRET Global X SuperDividend REIT ETF 0.2 59 -9 13.2 +8.9
IGRO iShares International Dividend Growth ETF 0.2 15 35 7.1 +2.8
IDMO Invesco S&P International Developed Momentum ETF 0.2 25 25 5.7 +1.3
IBAT iShares Energy Storage & Materials ETF 0.2 47 3 2.1 -2.3
GLOF iShares Global Equity Factor ETF 0.2 20 30 6.2 +1.8
ESGG FlexShares STOXX Global ESG Select Index Fund 0.2 42 8 4.6 +0.3
FENI Fidelity Enhanced International ETF 0.2 28 22 6.2 +1.9
VIDI Vident International Equity Strategy ETF 0.2 61 -11 9.0 +4.7
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 -33 8.2 +3.9
IQLT iShares MSCI Intl Quality Factor ETF 0.1 30 20 5.8 +1.5
MXI iShares Global Materials ETF 0.1 41 9 6.3 +1.9
PICK iShares MSCI Global Metals & Mining Producers ETF 0.1 39 11 9.1 +4.8
LVHI Franklin International Low Volatility High Dividend Index ET 0.1 40 10 7.7 +3.4
ERTH Invesco MSCI Sustainable Future ETF 0.1 62 -12 3.1 -1.2
XT iShares Exponential Technologies ETF 0.0 46 4 4.5 +0.2

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

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.1 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 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.