iShares MSCI Belgium ETF
ALTAR
Score™		 7.6% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 12.7x P/Sales
ratio		 1.5x
P/BV
ratio		 1.1x Div.
yield		 4.0%


  • 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) $21
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 36
Wgt avg mkt cap (mns) $36,284
Large cap (>$10bn) 59.6%
Mid cap ($2-10bn) 29.8%
Small cap (<$2bn) 6.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ANHEUSER-BUSCH INBEV SA/NV 21.5 %
ARGEN-X SE 11.7 %
KBC GROEP NV 10.3 %
UCB SA 5.8 %
AGEAS 4.3 %
GROUPE BRUXELLES LAMBERT SA 4.2 %
SYENSQO SA/NV 3.9 %
S.A. D'IETEREN N.V. 3.1 %
WAREHOUSES DE PAUW SCA 2.8 %
UMICORE 2.7 %
Total 70.3 %

TOP COUNTRY EXPOSURE
BELGIUM 79.3 %
NETHERLANDS 11.7 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.8% -2.4% 2.3% 2.9% 4.9%

Market Correlations
versus... Beta R-squared
S&P500 0.80 60%
MSCI EAFE 1.00 86%
MSCI Emg. Mkts. 0.78 55%

Technical Indicators
Recent close $18.63
30d moving avg. $18.15
Annualized volatility 18.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.3%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $332

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 205 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™: 7.6%


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 7.7 55 -5 4.9 -2.7
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 4.7 58 -8 9.0 +1.4
EFAD ProShares MSCI EAFE Dividend Growers ETF 4.5 50 0 5.1 -2.5
TINT ProShares Smart Materials ETF 4.3 58 -8 5.7 -1.9
FEUZ First Trust Eurozone AlphaDEX ETF 3.9 80 -30 8.3 +0.7
INDS Pacer Industrial Real Estate ETF 3.8 55 -5 6.2 -1.4
AIVI WisdomTree International AI Enhanced Value Fund 3.6 58 -8 8.0 +0.4
FDD First Trust Stoxx European Select Dividend Index Fund 3.4 58 -8 12.9 +5.3
KLDW Knowledge Leaders Developed World ETF 3.2 75 -25 4.9 -2.7
SDG iShares MSCI Global Sustainable Development Goals ETF 3.2 49 1 5.8 -1.8
HEDJ WisdomTree Europe Hedged Equity Fund 3.0 58 -8 8.3 +0.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 2.9 45 5 6.2 -1.4
ETEC iShares Breakthrough Environmental Solutions ETF 2.7 47 3 5.3 -2.3
EZU iShares MSCI Eurozone ETF 2.7 52 -2 6.1 -1.5
FLEU Franklin FTSE Eurozone ETF 2.7 9 41 6.7 -0.9
RWX SPDR Dow Jones International Real Estate ETF 2.7 59 -9 7.1 -0.4
AGNG Global X Aging Population ETF 2.7 50 0 4.1 -3.5
BLLD JPMorgan Sustainable Infrastructure ETF 2.6 49 1 6.2 -1.4
EFAV iShares MSCI EAFE Min Vol Factor ETF 2.6 22 28 6.2 -1.4
IFGL iShares International Developed Real Estate ETF 2.4 48 2 7.0 -0.6
IEUS iShares MSCI Europe Small-Cap ETF 2.4 42 8 0.0 -7.6
WPS iShares International Developed Property ETF 2.2 48 2 7.2 -0.4
FEP First Trust Europe AlphaDEX Fund 2.2 80 -30 8.6 +1.1
SDIV Global X Superdividend ETF 2.1 58 -8 17.6 +10.0
PSP Invesco Global Listed Private Equity ETF 2.1 106 -56 9.0 +1.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 2.0 35 15 6.4 -1.2
EFAS Global X MSCI SuperDividend EAFE ETF 1.9 57 -7 9.7 +2.1
MOTI VanEck Morningstar International Moat ETF 1.9 58 -8 6.9 -0.7
MOTG VanEck Morningstar Global Wide Moat ETF 1.9 52 -2 5.8 -1.8
EFRA iShares Environmental Infrastructure and Industrials ETF 1.9 47 3 5.2 -2.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.9 58 -8 6.0 -1.6
EUFN iShares MSCI Europe Financials ETF 1.8 51 -1 8.1 +0.5
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 1.8 72 -22 2.2 -5.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.8 70 -20 4.5 -3.1
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.7 10 40 8.1 +0.5
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.7 12 38 8.7 +1.1
WWJD Inspire International ETF 1.6 80 -30 7.1 -0.5
IMFL Invesco International Developed Dynamic Multifactor ETF 1.6 34 16 10.6 +3.0
IDLV Invesco S&P International Developed Low Volatility ETF 1.6 25 25 5.8 -1.8
FID First Trust S&P International Dividend Aristocrats ETF 1.5 60 -10 9.9 +2.3
WDIV SPDR S&P Global Dividend ETF 1.5 40 10 10.2 +2.6
IEUR iShares Core MSCI Europe ETF 1.5 11 39 -1.3 -8.9
DIM WisdomTree International MidCap Dividend Fund 1.5 58 -8 7.6 +0.0
ROOF IQ CBRE NextGen Real Estate ETF 1.5 60 -10 7.9 +0.3
SPEU SPDR Portfolio Europe ETF 1.5 7 43 6.5 -1.0
VGK Vanguard FTSE Europe ETF 1.4 11 39 6.8 -0.8
DFE WisdomTree Europe SmallCap Dividend Fund 1.4 58 -8 10.9 +3.3
FEZ SPDR EURO STOXX 50 ETF 1.4 29 21 6.2 -1.4
DISV Dimensional International Small Cap Value ETF 1.4 42 8 9.2 +1.6
KXI iShares Global Consumer Staples ETF 1.4 41 9 5.6 -2.0
ISZE iShares MSCI Intl Size Factor ETF 1.4 30 20 6.5 -1.0
IEV iShares Europe ETF 1.4 67 -17 6.1 -1.5
FLEE Franklin FTSE Europe ETF 1.4 9 41 6.8 -0.8
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.3 46 4 6.3 -1.3
AVDV Avantis International Small Cap Value ETF 1.3 36 14 7.9 +0.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.3 49 1 6.7 -0.9
IDV iShares International Select Dividend ETF 1.3 51 -1 12.3 +4.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.3 80 -30 5.4 -2.2
WTRE WisdomTree New Economy Real Estate Fund 1.3 58 -8 5.0 -2.6
FGD First Trust Dow Jones Global Select Dividend Index Fund 1.2 56 -6 13.9 +6.3
SCHC Schwab International Small-Cap Equity ETF 1.2 11 39 6.4 -1.2
BBEU JPMorgan BetaBuilders Europe ETF 1.2 9 41 6.7 -0.9
SCZ iShares MSCI EAFE Small-Cap ETF 1.2 40 10 0.0 -7.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 1.2 25 25 7.3 -0.2
EV Mast Global Battery Recycling & Production ETF 1.2 65 -15 12.8 +5.2
DFIS Dimensional International Small Cap ETF 1.2 39 11 6.7 -0.9
DLS WisdomTree International SmallCap Dividend Fund 1.1 58 -8 8.7 +1.2
EFG iShares MSCI EAFE Growth ETF 1.1 36 14 4.1 -3.5
ERTH Invesco MSCI Sustainable Future ETF 1.1 62 -12 3.7 -3.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.1 30 20 6.8 -0.8
NTZG Nuveen Global Net Zero Transition ETF 1.1 56 -6 4.9 -2.7
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 1.1 51 -1 6.8 -0.8
CIL VictoryShares International Volatility Wtd ETF 1.1 45 5 6.8 -0.8
DFIC Dimensional International Core Equity 2 ETF 1.0 23 27 7.4 -0.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.0 20 30 6.9 -0.7
BNE Blue Horizon BNE ETF 1.0 87 -37 5.0 -2.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.0 29 21 8.7 +1.2
WDNA WisdomTree BioRevolution Fund 1.0 45 5 -4.5 -12.1
JHMD John Hancock Multifactor Developed International ETF 1.0 39 11 7.3 -0.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 1.0 20 30 6.2 -1.4
REET iShares Global REIT ETF 1.0 14 36 7.1 -0.5
IEFA iShares Core MSCI EAFE ETF 1.0 7 43 2.7 -4.9
IVLU iShares MSCI Intl Value Factor ETF 1.0 30 20 10.6 +3.0
GSFP Goldman Sachs Future Planet Equity ETF 1.0 75 -25 4.5 -3.0
AVRE Avantis Real Estate ETF 1.0 17 33 6.6 -1.0
BATT Amplify Lithium & Battery Technology ETF 0.9 59 -9 2.9 -4.7
EFA iShares MSCI EAFE ETF 0.9 35 15 6.4 -1.2
DTRE First Trust Alerian Disruptive Technology Real Estate ETF 0.9 60 -10 3.9 -3.7
DFSI Dimensional International Sustainability Core 1 ETF 0.9 24 26 6.2 -1.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.9 39 11 7.3 -0.3
NUDM Nuveen ESG International Developed Markets Equity ETF 0.9 31 19 6.4 -1.2
SPDW SPDR Portfolio Developed World ex-US ETF 0.9 3 47 6.9 -0.7
FNDC Schwab Fundamental International Small Co. Index ETF 0.9 39 11 6.8 -0.7
DMXF iShares ESG Advanced MSCI EAFE ETF 0.9 12 38 5.4 -2.2
DTH WisdomTree International High Dividend Fund 0.9 58 -8 10.1 +2.5
ESGD iShares ESG Aware MSCI EAFE ETF 0.9 20 30 6.3 -1.3
ERET iShares Environmentally Aware Real Estate ETF 0.9 30 20 7.2 -0.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.9 40 10 7.8 +0.2
TPIF Timothy Plan International ETF 0.9 62 -12 6.7 -0.9
DSTX Distillate International Fundamental Stability & Value ETF 0.9 55 -5 8.0 +0.4
DWM WisdomTree International Equity Fund 0.9 48 2 7.8 +0.2
IDEV iShares Core MSCI International Developed Markets ETF 0.9 4 46 6.7 -0.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.9 36 14 6.4 -1.2
FPXI First Trust International Equity Opportunities ETF 0.9 70 -20 3.6 -4.0
IQIN IQ 500 International ETF 0.8 25 25 8.7 +1.2
XT iShares Exponential Technologies ETF 0.8 46 4 3.8 -3.7
PBD Invesco Global Clean Energy ETF 0.8 75 -25 -3.8 -11.4
DFGR Dimensional Global Real Estate ETF 0.8 22 28 7.0 -0.6
HFXI IQ FTSE International Equity Currency Neutral ETF 0.8 20 30 6.8 -0.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.8 7 43 6.5 -1.1
SCHF Schwab International Equity ETF 0.8 6 44 7.0 -0.6
BLES Inspire Global Hope ETF 0.8 61 -11 6.3 -1.3
VEA Vanguard FTSE Developed Markets ETF 0.8 5 45 7.0 -0.6
RWO SPDR Dow Jones Global Real Estate ETF 0.8 50 0 6.9 -0.7
BKIE BNY Mellon International Equity ETF 0.8 4 46 6.9 -0.7
IQDG WisdomTree International Quality Dividend Growth Fund 0.8 42 8 5.8 -1.8
GSID Goldman Sachs MarketBeta International Equity ETF 0.8 20 30 6.6 -1.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.8 24 26 8.5 +0.9
INTF iShares International Equity Factor ETF 0.8 15 35 7.8 +0.2
DFAI Dimensional International Core Equity Market ETF 0.7 18 32 6.9 -0.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.7 30 20 7.8 +0.2
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 3 10.7 +3.1
DFIV Dimensional International Value ETF 0.7 27 23 9.8 +2.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 3 10.2 +2.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 0.7 58 -8 5.5 -2.1
FNDF Schwab Fundamental International Large Co. Index ETF 0.7 25 25 9.0 +1.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 5 8.5 +0.9
DIHP Dimensional International High Profitability ETF 0.7 29 21 6.9 -0.7
AVIV Avantis International Large Cap Value ETF 0.7 25 25 8.8 +1.3
GWX SPDR S&P International Small Cap ETF 0.7 40 10 6.6 -1.0
EFV iShares MSCI EAFE Value ETF 0.7 34 16 9.1 +1.5
VIDI Vident International Equity Strategy ETF 0.7 61 -11 11.9 +4.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.7 80 -30 10.7 +3.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.7 25 25 7.4 -0.2
IQRA IQ CBRE Real Assets ETF 0.6 65 -15 5.9 -1.7
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.6 58 -8 4.6 -3.0
AVDE Avantis International Equity ETF 0.6 23 27 7.8 +0.2
DGT SPDR Global Dow ETF 0.6 50 0 6.6 -1.0
GQRE FlexShares Global Quality Real Estate Index Fund 0.6 45 5 6.8 -0.8
IXUS iShares Core MSCI Total International Stock ETF 0.6 7 43 6.9 -0.7
FPAG FPA Global Equity ETF 0.6 49 1 5.6 -2.0
DOL WisdomTree International LargeCap Dividend Fund 0.6 48 2 7.7 +0.1
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 20 6.8 -0.8
VXUS Vanguard Total International Stock ETF 0.6 7 43 7.1 -0.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.6 34 16 6.7 -0.9
IQSI IQ Candriam International Equity ETF 0.6 15 35 6.4 -1.2
VEU Vanguard FTSE All-World ex-US Index Fund 0.6 8 42 7.2 -0.4
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.6 45 5 4.9 -2.7
VSGX Vanguard ESG International Stock ETF 0.6 12 38 6.8 -0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.6 41 9 6.6 -1.0
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 27 8.7 +1.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 0.5 32 18 6.7 -0.9
QINT American Century Quality Diversified International ETF 0.5 39 11 7.4 -0.2
IXJ iShares Global Healthcare ETF 0.5 42 8 6.1 -1.5
IQDE FlexShares International Quality Dividend Defensive Index ET 0.5 47 3 10.7 +3.1
VIGI Vanguard International Dividend Appreciation ETF 0.5 15 35 5.5 -2.1
DIVI Franklin International Core Dividend Tilt Index ETF 0.5 9 41 8.0 +0.4
RAYD Rayliant Quantitative Developed Market Equity ETF 0.5 80 -30 4.5 -3.1
JIRE JPMorgan International Research Enhanced Equity ETF 0.5 24 26 6.7 -0.9
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.5 80 -30 11.0 +3.4
MXI iShares Global Materials ETF 0.4 41 9 6.7 -0.9
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.4 45 5 6.3 -1.3
IXG iShares Global Financials ETF 0.4 42 8 6.8 -0.8
GLOF iShares Global Equity Factor ETF 0.4 20 30 7.0 -0.6
ICOW Pacer Developed Markets International Cash Cows 100 ETF 0.4 65 -15 12.7 +5.2
ESGN Columbia International ESG Equity Income ETF 0.4 45 5 9.0 +1.4
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.3 46 4 5.6 -2.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.3 39 11 7.6 0.0
RFEU First Trust Riverfront Dynamic Europe ETF 0.3 83 -33 8.8 +1.2
IPKW Invesco International BuyBack Achievers ETF 0.3 55 -5 9.1 +1.5
VYMI Vanguard International High Dividend Yield ETF 0.3 22 28 9.7 +2.1
DEW WisdomTree Global High Dividend Fund 0.3 58 -8 9.0 +1.5
CGUS Capital Group Core Equity ETF 0.3 33 17 4.7 -2.9
WRND IQ Global Equity R&D Leaders ETF 0.3 18 32 7.1 -0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 41 5.7 -1.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.3 14 36 6.2 -1.4
TOK iShares MSCI Kokusai ETF 0.3 26 24 5.3 -2.3
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.3 9 41 9.8 +2.2
KOKU Xtrackers MSCI Kokusai Equity ETF 0.2 9 41 5.5 -2.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 30 5.6 -2.0
IGRO iShares International Dividend Growth ETF 0.2 15 35 7.1 -0.5
URTH iShares MSCI World ETF 0.2 24 26 5.4 -2.2
IMTM iShares MSCI Intl Momentum Factor ETF 0.2 30 20 6.7 -0.8
OCEN IQ Clean Oceans ETF 0.2 45 5 5.3 -2.3
LVHI Franklin International Low Volatility High Dividend Index ET 0.2 40 10 10.1 +2.5
ESGG FlexShares STOXX Global ESG Select Index Fund 0.2 42 8 5.1 -2.5
JSTC Adasina Social Justice All Cap Global ETF 0.2 89 -39 4.7 -2.9
JPIN J.P. Morgan Diversified Return International Equity ETF 0.2 37 13 8.7 +1.1
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 -33 9.0 +1.4
JHID John Hancock International High Dividend ETF 0.2 46 4 11.4 +3.8
VT Vanguard Total World Stock ETF 0.2 7 43 5.8 -1.8
QWLD SPDR MSCI World StrategicFactors ETF 0.2 30 20 6.0 -1.6
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.5 -2.1
CLNR IQ Cleaner Transport ETF 0.2 45 5 8.2 +0.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.2 12 38 5.0 -2.6
IQLT iShares MSCI Intl Quality Factor ETF 0.2 30 20 5.7 -1.9
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.2 25 25 6.0 -1.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 0.2 20 30 10.7 +3.1
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 11 11.0 +3.5
JIG JPMorgan International Growth ETF 0.1 55 -5 4.3 -3.3
RODE Hartford Multifactor Diversified International ETF 0.1 29 21 11.5 +3.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.1 42 8 6.8 -0.8
GINN Goldman Sachs Innovate Equity ETF 0.1 52 -2 2.7 -4.9
IDHQ Invesco S&P International Developed High Quality ETF 0.1 29 21 5.7 -1.8
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.0 47 3 5.9 -1.7

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.9 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 CATEGORY
AVERAGE		 1.51
 
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.