iShares MSCI Belgium ETF
ALTAR
Score™		 4.3% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 23.2x P/Sales
ratio		 2.8x
P/BV
ratio		 1.8x Div.
yield		 2.5%


  • 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) $31
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 40
Wgt avg mkt cap (mns) $39,226
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 19.3 %
ARGEN-X SE 16.2 %
UCB SA 9.1 %
KBC GROEP NV 4.5 %
AGEAS 4.1 %
GROUPE BRUXELLES LAMBERT SA 2.9 %
ACKERMANS & VAN HAAREN 2.7 %
SYENSQO SA/NV 2.6 %
ELIA SYSTEM OPERATOR SA/NV 2.4 %
FINANCIERE DE TUBIZE 2.3 %
Total 66.1 %

TOP COUNTRY EXPOSURE
BELGIUM 77.7 %
NETHERLANDS 16.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
32.8% 26.9% 7.2% 5.5% 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.40 20%
MSCI EAFE 0.79 56%
MSCI Emg. Mkts. 0.59 36%

Technical Indicators
Recent close $24.34
30d moving avg. $23.98
Annualized volatility 15.5%
Short interest (ETF) 1.5%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 37
Turnover 2.9%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $223

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 210 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™: 4.3%


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
(%)
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 6.9 58 -8 8.3 +3.9
EUDV ProShares MSCI Europe Dividend Growers ETF 5.1 55 -5 6.2 +1.9
JDOC JPMorgan Healthcare Leaders ETF 4.9 65 -15 3.8 -0.5
OAIM OneAscent International Equity ETF 4.5 95 -45 5.3 +1.0
AGNG Global X Aging Population ETF 4.4 50 0 4.6 +0.3
TINT ProShares Smart Materials ETF 3.9 58 -8 5.8 +1.5
HEDJ WisdomTree Europe Hedged Equity Fund 3.9 58 -8 6.4 +2.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.5 45 5 6.8 +2.4
FMED Fidelity Disruptive Medicine ETF 3.4 50 0 -0.6 -4.9
EZU iShares MSCI Eurozone ETF 3.1 52 -2 6.4 +2.0
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.0 35 15 6.2 +1.9
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.0 65 -15 4.5 +0.2
IEUS iShares MSCI Europe Small-Cap ETF 3.0 42 8 7.3 +2.9
PEX ProShares Global Listed Private Equity ETF 3.0 81 -31 11.1 +6.8
PSP Invesco Global Listed Private Equity ETF 3.0 106 -56 6.0 +1.7
EFAD ProShares MSCI EAFE Dividend Growers ETF 3.0 50 0 5.9 +1.5
FEUZ First Trust Eurozone AlphaDEX ETF 2.9 80 -30 7.4 +3.1
AIVI WisdomTree International AI Enhanced Value Fund 2.8 58 -8 6.6 +2.3
AAUM Tema Alternative Asset Managers ETF 2.8 99 -49 3.3 -1.0
BMED Future Health ETF 2.7 85 -35 0.3 -4.1
RWX SPDR Dow Jones International Real Estate ETF 2.6 59 -9 6.9 +2.5
FDD First Trust Stoxx European Select Dividend Index Fund 2.5 58 -8 10.9 +6.6
FEZ SPDR EURO STOXX 50 ETF 2.4 29 21 6.3 +2.0
DFE WisdomTree Europe SmallCap Dividend Fund 2.3 58 -8 8.0 +3.7
EFAV iShares MSCI EAFE Min Vol Factor ETF 2.1 22 28 5.8 +1.5
DIM WisdomTree International MidCap Dividend Fund 2.0 58 -8 7.1 +2.8
IMOM Alpha Architect International Quantitative Momentum ETF 2.0 49 1 4.6 +0.3
BLDG Cambria Global Real Estate ETF 2.0 60 -10 11.5 +7.1
FEP First Trust Europe AlphaDEX Fund 2.0 80 -30 7.8 +3.5
IFGL iShares International Developed Real Estate ETF 2.0 48 2 6.9 +2.6
INDS Pacer Industrial Real Estate ETF 2.0 55 -5 6.6 +2.3
EFAS Global X MSCI SuperDividend EAFE ETF 1.9 57 -7 8.3 +4.0
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 1.9 72 -22 -1.3 -5.6
WBAT WisdomTree Battery Value Chain and Innovation Fund 1.9 45 5 1.7 -2.6
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.9 10 40 6.7 +2.3
WDNA WisdomTree BioRevolution Fund 1.8 45 5 -1.9 -6.2
BBEU JPMorgan BetaBuilders Europe ETF 1.8 9 41 6.9 +2.6
IEUR iShares Core MSCI Europe ETF 1.8 11 39 7.0 +2.7
VGK Vanguard FTSE Europe ETF 1.8 6 44 7.2 +2.8
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.8 80 -30 5.9 +1.6
SPEU SPDR Portfolio Europe ETF 1.8 7 43 7.1 +2.8
WWJD Inspire International ETF 1.8 80 -30 7.1 +2.8
TPIF Timothy Plan International ETF 1.7 62 -12 6.0 +1.7
SCHC Schwab International Small-Cap Equity ETF 1.7 11 39 7.5 +3.2
DLS WisdomTree International SmallCap Dividend Fund 1.7 58 -8 7.9 +3.6
KXI iShares Global Consumer Staples ETF 1.6 41 9 5.7 +1.3
EFG iShares MSCI EAFE Growth ETF 1.6 36 14 4.1 -0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.6 46 4 6.5 +2.2
FLEE Franklin FTSE Europe ETF 1.6 9 41 6.9 +2.6
IEV iShares Europe ETF 1.6 67 -17 6.5 +2.2
EUFN iShares MSCI Europe Financials ETF 1.6 51 -1 7.5 +3.2
IDLV Invesco S&P International Developed Low Volatility ETF 1.5 25 25 6.5 +2.2
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 1.5 85 -35 6.2 +1.9
BLLD JPMorgan Sustainable Infrastructure ETF 1.5 49 1 5.9 +1.6
DMXF iShares ESG Advanced MSCI EAFE ETF 1.5 12 38 5.4 +1.1
VGSR Vert Global Sustainable Real Estate ETF 1.5 47 3 7.7 +3.4
UIVM VictoryShares International Value Momentum ETF 1.5 35 15 8.4 +4.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 1.5 25 25 7.1 +2.7
CIL VictoryShares International Volatility Wtd ETF 1.5 45 5 6.3 +2.0
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.4 12 38 8.2 +3.8
DTRE First Trust Alerian Disruptive Technology Real Estate ETF 1.4 60 -10 5.8 +1.4
FID First Trust S&P International Dividend Aristocrats ETF 1.4 60 -10 7.8 +3.5
ICPY Tweedy, Browne International Insider Value ETF 1.4 80 -30 11.3 +7.0
BATT Amplify Lithium & Battery Technology ETF 1.4 59 -9 1.9 -2.4
CGXU Capital Group International Focus Equity ETF 1.3 54 -4 5.4 +1.1
NUDM Nuveen ESG International Developed Markets Equity ETF 1.3 31 19 5.8 +1.5
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.3 12 38 5.7 +1.4
EFRA iShares Environmental Infrastructure and Industrials ETF 1.3 47 3 5.3 +1.0
DXIV Dimensional International Vector Equity ETF 1.3 34 16 7.4 +3.0
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.3 49 1 6.7 +2.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 21 7.4 +3.0
SCZ iShares MSCI EAFE Small-Cap ETF 1.3 40 10 6.8 +2.4
HELX Franklin Genomic Advancements ETF 1.2 50 0 -0.4 -4.7
EV Mast Global Battery Recycling & Production ETF 1.2 65 -15 7.6 +3.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.2 39 11 7.5 +3.1
CGIE Capital Group International Equity ETF 1.2 54 -4 4.9 +0.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.2 47 3 7.6 +3.3
JHMD John Hancock Multifactor Developed International ETF 1.2 39 11 7.1 +2.7
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 1.2 20 30 6.1 +1.7
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.2 20 30 6.0 +1.7
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.1 30 20 6.7 +2.3
ESGD iShares ESG Aware MSCI EAFE ETF 1.1 20 30 6.3 +1.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.1 8 42 7.1 +2.8
DISV Dimensional International Small Cap Value ETF 1.1 42 8 8.8 +4.5
IEFA iShares Core MSCI EAFE ETF 1.1 7 43 6.6 +2.3
DIVI Franklin International Core Dividend Tilt Index ETF 1.1 9 41 7.5 +3.2
IXJ iShares Global Healthcare ETF 1.1 42 8 6.7 +2.3
WDIV SPDR S&P Global Dividend ETF 1.1 40 10 8.9 +4.6
EFA iShares MSCI EAFE ETF 1.1 35 15 6.3 +2.0
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 3 8.3 +4.0
HFXI IQ FTSE International Equity Currency Neutral ETF 1.1 20 30 6.5 +2.2
STXI Strive International Developed Markets ETF 1.1 29 21 6.3 +2.0
MOTG VanEck Morningstar Global Wide Moat ETF 1.1 52 -2 8.8 +4.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.1 36 14 6.3 +2.0
AVDV Avantis International Small Cap Value ETF 1.1 36 14 8.6 +4.3
BKIE BNY Mellon International Equity ETF 1.1 4 46 6.6 +2.2
DFIS Dimensional International Small Cap ETF 1.0 39 11 6.9 +2.6
DFIC Dimensional International Core Equity 2 ETF 1.0 23 27 7.0 +2.7
IMTM iShares MSCI Intl Momentum Factor ETF 1.0 30 20 5.1 +0.8
AVRE Avantis Real Estate ETF 1.0 17 33 7.4 +3.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 1.0 40 10 7.0 +2.7
DWM WisdomTree International Equity Fund 1.0 48 2 6.9 +2.6
COPY Tweedy, Browne Insider + Value ETF 1.0 80 -30 11.4 +7.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.0 58 -8 6.6 +2.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 1.0 25 25 6.8 +2.5
IDEV iShares Core MSCI International Developed Markets ETF 1.0 4 46 6.6 +2.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.0 58 -8 6.7 +2.4
IVLU iShares MSCI Intl Value Factor ETF 1.0 30 20 9.4 +5.1
SPDW SPDR Portfolio Developed World ex-US ETF 1.0 3 47 6.6 +2.3
FDRV Fidelity Electric Vehicles and Future Transportation ETF 0.9 39 11 -1.3 -5.6
JSTC Adasina Social Justice All Cap Global ETF 0.9 89 -39 4.8 +0.5
VEA Vanguard FTSE Developed Markets ETF 0.9 3 47 6.7 +2.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.9 80 -30 10.7 +6.4
AVDS Avantis International Small Cap Equity ETF 0.9 30 20 6.6 +2.3
DTH WisdomTree International High Dividend Fund 0.9 58 -8 7.9 +3.6
GSID Goldman Sachs MarketBeta International Equity ETF 0.9 20 30 6.4 +2.1
REET iShares Global REIT ETF 0.9 14 36 7.7 +3.4
FNDC Schwab Fundamental International Small Co. Index ETF 0.9 39 11 5.9 +1.5
BLES Inspire Global Hope ETF 0.9 61 -11 6.8 +2.5
SDG iShares MSCI Global Sustainable Development Goals ETF 0.9 49 1 5.2 +0.9
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.9 56 -6 10.8 +6.5
SCHF Schwab International Equity ETF 0.9 6 44 7.0 +2.6
IDV iShares International Select Dividend ETF 0.9 51 -1 10.2 +5.9
IQDG WisdomTree International Quality Dividend Growth Fund 0.9 42 8 6.8 +2.5
VIGI Vanguard International Dividend Appreciation ETF 0.9 10 40 6.3 +2.0
DIHP Dimensional International High Profitability ETF 0.9 29 21 6.5 +2.2
JIVE JPMorgan International Value ETF 0.9 55 -5 10.6 +6.2
AVSD Avantis Responsible International Equity ETF 0.9 23 27 5.1 +0.8
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.9 58 -8 4.4 +0.1
CZAR Themes Natural Monopoly ETF 0.9 35 15 5.5 +1.2
AVDE Avantis International Equity ETF 0.8 23 27 7.0 +2.7
TTAI FCF International Quality ETF 0.8 59 -9 7.4 +3.1
DFAI Dimensional International Core Equity Market ETF 0.8 18 32 6.7 +2.4
DFIV Dimensional International Value ETF 0.8 27 23 8.8 +4.5
JIG JPMorgan International Growth ETF 0.8 55 -5 4.7 +0.4
DFGR Dimensional Global Real Estate ETF 0.8 22 28 7.8 +3.5
PBD Invesco Global Clean Energy ETF 0.8 75 -25 0.8 -3.5
DFSI Dimensional International Sustainability Core 1 ETF 0.8 24 26 6.1 +1.8
KNO AXS Knowledge Leaders ETF 0.8 78 -28 5.6 +1.3
ERET iShares Environmentally Aware Real Estate ETF 0.8 30 20 7.3 +3.0
JIRE JPMorgan International Research Enhanced Equity ETF 0.8 24 26 6.8 +2.5
RWO SPDR Dow Jones Global Real Estate ETF 0.8 50 0 7.1 +2.7
AVIV Avantis International Large Cap Value ETF 0.8 25 25 8.1 +3.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.7 39 11 6.4 +2.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.7 24 26 7.0 +2.7
CGDG Capital Group Dividend Growers ETF 0.7 47 3 6.0 +1.7
IXUS iShares Core MSCI Total International Stock ETF 0.7 7 43 7.5 +3.1
VSGX Vanguard ESG International Stock ETF 0.7 10 40 7.5 +3.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.7 30 20 7.4 +3.1
VXUS Vanguard Total International Stock ETF 0.7 5 45 7.6 +3.2
IPKW Invesco International BuyBack Achievers ETF 0.7 55 -5 8.6 +4.3
CWI SPDR MSCI ACWI ex-US ETF 0.7 30 20 7.3 +3.0
DOL WisdomTree International LargeCap Dividend Fund 0.7 48 2 6.7 +2.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.7 34 16 7.2 +2.9
DGT State Street SPDR Global Dow ETF 0.7 50 0 6.5 +2.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.7 41 9 7.1 +2.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 5 8.3 +3.9
FNDF Schwab Fundamental International Large Co. Index ETF 0.6 25 25 9.1 +4.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.6 4 46 7.6 +3.3
EFV iShares MSCI EAFE Value ETF 0.6 34 16 8.4 +4.0
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 27 8.0 +3.7
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.6 80 -30 4.1 -0.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.6 18 32 7.2 +2.9
FDEV Fidelity International Multifactor ETF 0.6 18 32 7.3 +3.0
RCGE RockCreek Global Equality ETF 0.5 95 -45 6.6 +2.2
XT iShares Exponential Technologies ETF 0.5 46 4 4.5 +0.2
IQSI IQ Candriam International Equity ETF 0.5 15 35 6.2 +1.9
GWX SPDR S&P International Small Cap ETF 0.5 40 10 6.4 +2.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.5 80 -30 8.4 +4.1
INTF iShares International Equity Factor ETF 0.5 15 35 7.2 +2.9
FFLC Fidelity Fundamental Large Cap Core ETF 0.4 38 12 4.5 +0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.4 14 36 5.9 +1.6
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.4 46 4 5.7 +1.4
GEW Cambria Global EW ETF 0.4 29 21 5.9 +1.6
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.4 25 25 6.0 +1.7
DTAN Sparkline International Intangible Value ETF 0.4 55 -5 8.0 +3.7
UMMA Wahed Dow Jones Islamic World ETF 0.4 65 -15 4.8 +0.5
ESGG FlexShares STOXX Global ESG Select Index Fund 0.4 42 8 5.2 +0.9
IXG iShares Global Financials ETF 0.4 42 8 6.4 +2.1
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.4 9 41 8.9 +4.5
IBAT iShares Energy Storage & Materials ETF 0.3 47 3 2.7 -1.7
VYMI Vanguard International High Dividend Yield ETF 0.3 17 33 8.9 +4.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.3 9 41 5.1 +0.8
GQRE FlexShares Global Quality Real Estate Index Fund 0.3 45 5 7.9 +3.6
TOK iShares MSCI Kokusai ETF 0.3 26 24 4.9 +0.6
QWLD SPDR MSCI World StrategicFactors ETF 0.3 30 20 5.7 +1.4
JPIN J.P. Morgan Diversified Return International Equity ETF 0.3 37 13 7.7 +3.4
URTH iShares MSCI World ETF 0.3 24 26 4.9 +0.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 41 5.5 +1.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 38 4.9 +0.6
KLMT Invesco MSCI Global Climate 500 ETF 0.3 10 40 5.6 +1.3
WRND IQ Global Equity R&D Leaders ETF 0.3 18 32 7.6 +3.3
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 16 5.8 +1.4
VT Vanguard Total World Stock ETF 0.3 6 44 5.7 +1.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 30 5.4 +1.0
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.3 +1.0
IGRO iShares International Dividend Growth ETF 0.2 15 35 6.9 +2.6
MXI iShares Global Materials ETF 0.2 41 9 7.1 +2.8
IDMO Invesco S&P International Developed Momentum ETF 0.2 25 25 5.6 +1.3
GLOF iShares Global Equity Factor ETF 0.2 20 30 6.7 +2.3
FENI Fidelity Enhanced International ETF 0.2 28 22 6.1 +1.8
VIDI Vident International Equity Strategy ETF 0.2 61 -11 10.3 +5.9
QINT American Century Quality Diversified International ETF 0.2 39 11 6.7 +2.4
DEW WisdomTree Global High Dividend Fund 0.2 58 -8 8.1 +3.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.2 42 8 6.5 +2.2
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 -33 8.9 +4.6
VWID Virtus WMC International Dividend ETF 0.2 49 1 7.9 +3.6
IQLT iShares MSCI Intl Quality Factor ETF 0.1 30 20 6.1 +1.7
PICK iShares MSCI Global Metals & Mining Producers ETF 0.1 39 11 10.4 +6.1
ERTH Invesco MSCI Sustainable Future ETF 0.1 62 -12 3.4 -1.0

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 8.2 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.51 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.