iShares MSCI Belgium ETF
ALTAR
Score™		 4.1% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 24.1x P/Sales
ratio		 2.9x
P/BV
ratio		 1.8x Div.
yield		 2.4%


  • 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) $23
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 39
Wgt avg mkt cap (mns) $39,995
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 20.8 %
ARGEN-X SE 18.1 %
UCB SA 10.3 %
KBC GROEP NV 4.4 %
AGEAS 3.9 %
GROUPE BRUXELLES LAMBERT SA 3.0 %
ACKERMANS & VAN HAAREN 2.6 %
SYENSQO SA/NV 2.6 %
ELIA SYSTEM OPERATOR SA/NV 2.4 %
WAREHOUSES DE PAUW SCA 2.1 %
Total 70.2 %

TOP COUNTRY EXPOSURE
BELGIUM 76.3 %
NETHERLANDS 18.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
27.8% 17.9% 10.6% 5.3% 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.53 19%
MSCI EAFE 0.70 45%
MSCI Emg. Mkts. 0.66 45%

Technical Indicators
Recent close $23.83
30d moving avg. $23.82
Annualized volatility 15.5%
Short interest (ETF) 1.9%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 19
Turnover 2.0%
Bid/Ask (% of price) 0.39%
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™: 4.1%


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 8.6 +4.5
EUDV ProShares MSCI Europe Dividend Growers ETF 5.1 55 -5 6.3 +2.2
JDOC JPMorgan Healthcare Leaders ETF 4.9 65 -15 3.8 -0.2
OAIM OneAscent International Equity ETF 4.4 95 -45 5.5 +1.4
AGNG Global X Aging Population ETF 4.3 50 0 4.6 +0.5
HEDJ WisdomTree Europe Hedged Equity Fund 3.9 58 -8 6.6 +2.5
TINT ProShares Smart Materials ETF 3.8 58 -8 6.2 +2.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 3.5 45 5 6.8 +2.7
FMED Fidelity Disruptive Medicine ETF 3.4 50 0 -0.7 -4.7
IEUS iShares MSCI Europe Small-Cap ETF 3.3 42 8 7.5 +3.4
EZU iShares MSCI Eurozone ETF 3.1 52 -2 6.5 +2.4
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.0 35 15 6.4 +2.3
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.0 65 -15 4.8 +0.7
EFAD ProShares MSCI EAFE Dividend Growers ETF 3.0 50 0 6.0 +1.9
AIVI WisdomTree International AI Enhanced Value Fund 2.8 58 -8 7.0 +2.9
FEUZ First Trust Eurozone AlphaDEX ETF 2.8 80 -30 7.8 +3.8
RWX SPDR Dow Jones International Real Estate ETF 2.7 59 -9 6.9 +2.8
BMED Future Health ETF 2.7 85 -35 0.3 -3.8
FDD First Trust Stoxx European Select Dividend Index Fund 2.5 58 -8 11.4 +7.3
FEZ SPDR EURO STOXX 50 ETF 2.5 29 21 6.5 +2.4
DFE WisdomTree Europe SmallCap Dividend Fund 2.3 58 -8 8.3 +4.2
EFAV iShares MSCI EAFE Min Vol Factor ETF 2.2 22 28 5.9 +1.9
PEX ProShares Global Listed Private Equity ETF 2.1 81 -31 11.3 +7.2
PSP Invesco Global Listed Private Equity ETF 2.1 106 -56 6.4 +2.3
AAUM Tema Alternative Asset Managers ETF 2.1 99 -49 3.7 -0.4
INDS Pacer Industrial Real Estate ETF 2.1 55 -5 6.8 +2.7
IFGL iShares International Developed Real Estate ETF 2.0 48 2 7.0 +3.0
DIM WisdomTree International MidCap Dividend Fund 2.0 58 -8 7.3 +3.2
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.0 72 -22 -1.3 -5.3
WBAT WisdomTree Battery Value Chain and Innovation Fund 2.0 45 5 1.4 -2.7
IMOM Alpha Architect International Quantitative Momentum ETF 2.0 49 1 4.6 +0.6
EFAS Global X MSCI SuperDividend EAFE ETF 2.0 57 -7 8.6 +4.5
FEP First Trust Europe AlphaDEX Fund 1.9 80 -30 8.3 +4.2
BLDG Cambria Global Real Estate ETF 1.9 60 -10 11.7 +7.6
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.9 10 40 6.8 +2.7
WDNA WisdomTree BioRevolution Fund 1.8 45 5 -2.3 -6.4
IEUR iShares Core MSCI Europe ETF 1.8 11 39 7.2 +3.1
BBEU JPMorgan BetaBuilders Europe ETF 1.8 9 41 7.1 +3.0
VGK Vanguard FTSE Europe ETF 1.8 6 44 7.3 +3.3
SPEU SPDR Portfolio Europe ETF 1.8 7 43 7.2 +3.2
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 1.8 80 -30 6.1 +2.0
WWJD Inspire International ETF 1.8 80 -30 7.2 +3.1
TPIF Timothy Plan International ETF 1.7 62 -12 6.1 +2.0
DLS WisdomTree International SmallCap Dividend Fund 1.7 58 -8 8.3 +4.2
KXI iShares Global Consumer Staples ETF 1.7 41 9 5.8 +1.8
SCHC Schwab International Small-Cap Equity ETF 1.6 11 39 7.7 +3.6
IEV iShares Europe ETF 1.6 67 -17 6.6 +2.6
EUFN iShares MSCI Europe Financials ETF 1.6 51 -1 8.0 +3.9
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.6 46 4 6.6 +2.5
FLEE Franklin FTSE Europe ETF 1.6 9 41 7.1 +3.0
VGSR Vert Global Sustainable Real Estate ETF 1.6 47 3 7.7 +3.6
IDLV Invesco S&P International Developed Low Volatility ETF 1.5 25 25 6.6 +2.5
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 1.5 85 -35 6.1 +2.0
DTRE First Trust Alerian Disruptive Technology Real Estate ETF 1.5 60 -10 6.0 +1.9
BLLD JPMorgan Sustainable Infrastructure ETF 1.5 49 1 5.9 +1.9
UIVM VictoryShares International Value Momentum ETF 1.5 35 15 8.4 +4.3
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 1.5 25 25 7.2 +3.1
CIL VictoryShares International Volatility Wtd ETF 1.5 45 5 6.4 +2.4
FID First Trust S&P International Dividend Aristocrats ETF 1.5 60 -10 7.6 +3.5
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.5 12 38 8.3 +4.2
BATT Amplify Lithium & Battery Technology ETF 1.5 59 -9 2.9 -1.2
ICPY Tweedy, Browne International Insider Value ETF 1.5 80 -30 0.0 -4.1
SCZ iShares MSCI EAFE Small-Cap ETF 1.4 40 10 7.0 +2.9
CGXU Capital Group International Focus Equity ETF 1.3 54 -4 5.6 +1.5
DXIV Dimensional International Vector Equity ETF 1.3 34 16 7.6 +3.6
NUDM Nuveen ESG International Developed Markets Equity ETF 1.3 31 19 6.1 +2.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.3 29 21 7.7 +3.6
EFG iShares MSCI EAFE Growth ETF 1.3 36 14 4.3 +0.2
EFRA iShares Environmental Infrastructure and Industrials ETF 1.2 47 3 5.5 +1.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.2 49 1 7.0 +2.9
DMXF iShares ESG Advanced MSCI EAFE ETF 1.2 12 38 5.4 +1.3
HELX Franklin Genomic Advancements ETF 1.2 50 0 -0.4 -4.5
EV Mast Global Battery Recycling & Production ETF 1.2 65 -15 6.7 +2.7
CGIE Capital Group International Equity ETF 1.2 54 -4 5.0 +0.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.2 47 3 8.0 +3.9
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.2 12 38 6.0 +1.9
DISV Dimensional International Small Cap Value ETF 1.2 42 8 9.0 +5.0
WDIV SPDR S&P Global Dividend ETF 1.2 40 10 8.9 +4.9
JHMD John Hancock Multifactor Developed International ETF 1.2 39 11 7.3 +3.2
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 1.2 20 30 6.3 +2.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 1.2 20 30 6.2 +2.1
IEFA iShares Core MSCI EAFE ETF 1.1 7 43 6.8 +2.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 11 7.8 +3.7
DIVI Franklin International Core Dividend Tilt Index ETF 1.1 9 41 7.7 +3.7
ESGD iShares ESG Aware MSCI EAFE ETF 1.1 20 30 6.6 +2.5
IXJ iShares Global Healthcare ETF 1.1 42 8 6.7 +2.6
EFA iShares MSCI EAFE ETF 1.1 35 15 6.5 +2.4
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 3 8.5 +4.4
HFXI IQ FTSE International Equity Currency Neutral ETF 1.1 20 30 6.7 +2.6
MOTG VanEck Morningstar Global Wide Moat ETF 1.1 52 -2 8.9 +4.9
STXI Strive International Developed Markets ETF 1.1 29 21 6.4 +2.4
DFIS Dimensional International Small Cap ETF 1.1 39 11 7.2 +3.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.1 8 42 7.4 +3.3
COPY Tweedy, Browne Insider + Value ETF 1.1 80 -30 12.1 +8.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 1.1 36 14 6.4 +2.3
BKIE BNY Mellon International Equity ETF 1.1 4 46 6.7 +2.7
SDG iShares MSCI Global Sustainable Development Goals ETF 1.0 49 1 5.0 +0.9
DFIC Dimensional International Core Equity 2 ETF 1.0 23 27 7.2 +3.2
AVDV Avantis International Small Cap Value ETF 1.0 36 14 9.1 +5.0
AVRE Avantis Real Estate ETF 1.0 17 33 7.4 +3.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 1.0 40 10 7.2 +3.1
DWM WisdomTree International Equity Fund 1.0 48 2 7.2 +3.1
IDEV iShares Core MSCI International Developed Markets ETF 1.0 4 46 6.8 +2.7
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.0 58 -8 6.7 +2.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 1.0 25 25 7.0 +2.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 1.0 30 20 6.9 +2.8
IMTM iShares MSCI Intl Momentum Factor ETF 1.0 30 20 5.5 +1.4
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.0 58 -8 6.5 +2.5
SPDW SPDR Portfolio Developed World ex-US ETF 1.0 3 47 6.8 +2.7
VEA Vanguard FTSE Developed Markets ETF 0.9 3 47 7.0 +2.9
REET iShares Global REIT ETF 0.9 14 36 7.7 +3.6
EFV iShares MSCI EAFE Value ETF 0.9 34 16 8.7 +4.6
FGD First Trust Dow Jones Global Select Dividend Index Fund 0.9 56 -6 10.5 +6.4
AVDS Avantis International Small Cap Equity ETF 0.9 30 20 7.1 +3.0
DTH WisdomTree International High Dividend Fund 0.9 58 -8 8.1 +4.0
GSID Goldman Sachs MarketBeta International Equity ETF 0.9 20 30 6.6 +2.5
IDV iShares International Select Dividend ETF 0.9 51 -1 10.1 +6.0
FNDC Schwab Fundamental International Small Co. Index ETF 0.9 39 11 5.9 +1.8
BLES Inspire Global Hope ETF 0.9 61 -11 7.0 +2.9
IQDG WisdomTree International Quality Dividend Growth Fund 0.9 42 8 6.7 +2.6
SCHF Schwab International Equity ETF 0.9 6 44 7.0 +2.9
IVLU iShares MSCI Intl Value Factor ETF 0.9 30 20 9.8 +5.7
JIVE JPMorgan International Value ETF 0.9 55 -5 11.0 +6.9
CZAR Themes Natural Monopoly ETF 0.9 35 15 5.7 +1.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.9 58 -8 4.5 +0.4
DIHP Dimensional International High Profitability ETF 0.9 29 21 6.8 +2.7
VIGI Vanguard International Dividend Appreciation ETF 0.9 10 40 6.5 +2.4
DFIV Dimensional International Value ETF 0.8 27 23 9.1 +5.0
DFGR Dimensional Global Real Estate ETF 0.8 22 28 7.8 +3.8
AVSD Avantis Responsible International Equity ETF 0.8 23 27 5.2 +1.1
DFAI Dimensional International Core Equity Market ETF 0.8 18 32 6.9 +2.8
TTAI FCF International Quality ETF 0.8 59 -9 7.3 +3.2
AVDE Avantis International Equity ETF 0.8 23 27 7.2 +3.1
FDRV Fidelity Electric Vehicles and Future Transportation ETF 0.8 39 11 -1.3 -5.4
JIG JPMorgan International Growth ETF 0.8 55 -5 4.7 +0.7
ERET iShares Environmentally Aware Real Estate ETF 0.8 30 20 7.3 +3.3
DFSI Dimensional International Sustainability Core 1 ETF 0.8 24 26 6.3 +2.2
PBD Invesco Global Clean Energy ETF 0.8 75 -25 0.9 -3.2
RWO SPDR Dow Jones Global Real Estate ETF 0.8 50 0 7.0 +3.0
KNO AXS Knowledge Leaders ETF 0.8 78 -28 5.9 +1.8
JIRE JPMorgan International Research Enhanced Equity ETF 0.8 24 26 7.0 +2.9
AVIV Avantis International Large Cap Value ETF 0.8 25 25 8.4 +4.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.7 24 26 7.3 +3.2
CGDG Capital Group Dividend Growers ETF 0.7 47 3 6.1 +2.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.7 39 11 6.4 +2.4
IXUS iShares Core MSCI Total International Stock ETF 0.7 7 43 7.6 +3.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.7 30 20 7.6 +3.5
VSGX Vanguard ESG International Stock ETF 0.7 10 40 7.6 +3.5
IPKW Invesco International BuyBack Achievers ETF 0.7 55 -5 9.0 +5.0
VXUS Vanguard Total International Stock ETF 0.7 5 45 7.7 +3.6
DGT State Street SPDR Global Dow ETF 0.7 50 0 6.7 +2.6
DOL WisdomTree International LargeCap Dividend Fund 0.7 48 2 7.0 +2.9
CWI SPDR MSCI ACWI ex-US ETF 0.7 30 20 7.5 +3.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.7 34 16 7.4 +3.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.7 41 9 7.2 +3.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.7 45 5 8.5 +4.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.6 4 46 7.8 +3.7
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.6 80 -30 11.1 +7.0
FNDF Schwab Fundamental International Large Co. Index ETF 0.6 25 25 9.1 +5.1
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 27 8.3 +4.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.6 80 -30 4.3 +0.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.6 18 32 7.3 +3.2
FDEV Fidelity International Multifactor ETF 0.6 18 32 7.5 +3.4
XT iShares Exponential Technologies ETF 0.6 46 4 4.7 +0.6
IQSI IQ Candriam International Equity ETF 0.5 15 35 6.3 +2.3
RCGE RockCreek Global Equality ETF 0.5 95 -45 6.8 +2.7
GWX SPDR S&P International Small Cap ETF 0.5 40 10 6.9 +2.8
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.5 80 -30 8.7 +4.6
JSTC Adasina Social Justice All Cap Global ETF 0.5 89 -39 5.2 +1.1
INTF iShares International Equity Factor ETF 0.5 15 35 7.5 +3.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.4 20 30 6.0 +1.9
FFLC Fidelity Fundamental Large Cap Core ETF 0.4 38 12 4.7 +0.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.4 14 36 6.1 +2.0
DTAN Sparkline International Intangible Value ETF 0.4 55 -5 8.2 +4.1
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 0.4 46 4 5.6 +1.5
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.4 25 25 6.0 +1.9
IXG iShares Global Financials ETF 0.4 42 8 6.8 +2.7
ESGG FlexShares STOXX Global ESG Select Index Fund 0.4 42 8 5.4 +1.3
UMMA Wahed Dow Jones Islamic World ETF 0.4 65 -15 4.9 +0.8
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.4 9 41 8.8 +4.7
IBAT iShares Energy Storage & Materials ETF 0.3 47 3 2.7 -1.4
VYMI Vanguard International High Dividend Yield ETF 0.3 17 33 9.2 +5.1
KOKU Xtrackers MSCI Kokusai Equity ETF 0.3 9 41 5.2 +1.1
GQRE FlexShares Global Quality Real Estate Index Fund 0.3 45 5 8.0 +4.0
QWLD SPDR MSCI World StrategicFactors ETF 0.3 30 20 5.9 +1.8
TOK iShares MSCI Kokusai ETF 0.3 26 24 5.1 +1.0
JPIN J.P. Morgan Diversified Return International Equity ETF 0.3 37 13 7.9 +3.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 30 5.6 +1.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 41 5.6 +1.6
URTH iShares MSCI World ETF 0.3 24 26 5.1 +1.0
KLMT Invesco MSCI Global Climate 500 ETF 0.3 10 40 5.7 +1.6
WRND IQ Global Equity R&D Leaders ETF 0.3 18 32 7.7 +3.7
IMFL Invesco International Developed Dynamic Multifactor ETF 0.3 34 16 5.7 +1.7
VT Vanguard Total World Stock ETF 0.3 6 44 5.8 +1.8
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.5 +1.4
MXI iShares Global Materials ETF 0.2 41 9 7.3 +3.3
IGRO iShares International Dividend Growth ETF 0.2 15 35 7.1 +3.0
GLOF iShares Global Equity Factor ETF 0.2 20 30 6.8 +2.7
IDMO Invesco S&P International Developed Momentum ETF 0.2 25 25 5.9 +1.8
FENI Fidelity Enhanced International ETF 0.2 28 22 6.3 +2.2
VIDI Vident International Equity Strategy ETF 0.2 61 -11 10.5 +6.4
QINT American Century Quality Diversified International ETF 0.2 39 11 6.9 +2.8
DEW WisdomTree Global High Dividend Fund 0.2 58 -8 8.3 +4.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.2 42 8 6.4 +2.3
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 -33 9.1 +5.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.2 12 38 5.2 +1.1
VWID Virtus WMC International Dividend ETF 0.2 49 1 8.0 +4.0
IQLT iShares MSCI Intl Quality Factor ETF 0.1 30 20 6.3 +2.2
PICK iShares MSCI Global Metals & Mining Producers ETF 0.1 39 11 11.2 +7.1
ERTH Invesco MSCI Sustainable Future ETF 0.1 62 -12 3.5 -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

  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 8.0 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 4.1 %
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.