iShares MSCI NetherlanIds
ALTAR
Score™
5.4% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
17.5x P/Sales
ratio
1.7x
P/BV
ratio
2.2x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Netherlands Index fund seeks investment results that correspond to the price and yield performance of publicly traded securities in the Dutch market, as measured by the MSCI Netherlands Investable Market Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 18, 1996
Assets (mns) $173
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 Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 58
Wgt avg mkt cap (mns) $58,533
Large cap (>$10bn) 82.7%
Mid cap ($2-10bn) 12.6%
Small cap (<$2bn) 4.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ASML HOLDING NV 18.1 %
UNILEVER NV 13.3 %
ING GROEP NV 6.9 %
PHILIPS ELECTRONICS NV 6.4 %
NXP SEMICONDUCTORS NV 4.7 %
ROYAL AHOLD DELHAIZE N.V. 4.7 %
KONINKLIJKE DSM NV 3.8 %
AKZO NOBEL 3.6 %
WOLTERS KLUWER 3.2 %
HEINEKEN NV 3.2 %
Total 68.0 %

TOP COUNTRY EXPOSURE
NETHERLANDS 91.5 %
BRITAIN 2.0 %
IRELAND 1.3 %








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.
24.5% 18.4% 8.5% 7.5% 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.87 58%
MSCI EAFE 1.14 84%
MSCI Emg. Mkts. 0.82 71%

Technical Indicators
Recent close $32.36
30d moving avg. $32.28
Annualized volatility 13.9%
Short interest (ETF) 3.8%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 161
Turnover 3.0%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $2,097

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EWN Expense: 47 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWN
Ticker Fund
Name
Overlap1
vs EWN
(%)
Expense
ratio
(bp)
Savings
vs EWN
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWN
(%)
HEDJ Wisdomtree International Hedged Equity 16.2 58 -11 7.7 +2.3
EZU iShares MSCI Euro Monetary Union 11.5 47 0 6.8 +1.4
DBEZ Xtrackers MSCI EMU Hedged 11.1 45 2 6.4 +1.0
FEZ SPDR DJ Euro Stoxx 50 10.8 29 18 7.0 +1.5
EURZ Xtrackers Eurozone Equity 10.6 9 38 7.1 +1.7
IDHQ Invesco Int'l Developed High Quality Portfolio 7.4 29 18 5.6 +0.1
IQDG WisdomTree International Quality Dividend Growth 7.4 38 9 6.7 +1.2
IHDG Wisdomtree International Hed 7.3 58 -11 6.4 +0.9
SCID Global X Scientific Beta Europe 6.8 38 9 6.5 +1.1
FPXE First Trust IPOX Europe Equity Opportunities 6.7 70 -23 4.0 -1.5
IPKW Invesco International BuyBack Achievers Portfolio 6.4 55 -8 9.0 +3.6
IMTM iShares MSCI Int'l Developed Momentum 6.3 30 17 5.3 -0.1
GSEU Goldman Sachs ActiveBeta Europe Equity 6.1 25 22 6.5 +1.1
EUDG WisdomTree Europe Dividend 6.1 58 -11 6.5 +1.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity 5.9 14 33 6.7 +1.3
EFG iShares MSCI EAFE Growth 5.9 40 7 5.1 -0.3
IEUR iShares Core MSCI Europe 5.8 9 38 6.9 +1.5
INTF iShares FactorSelect MSCI International 5.8 30 17 8.4 +3.0
DBEU Xtrackers Europe Hedged 5.8 45 2 6.5 +1.1
SMEZ SPDR Euro Stoxx Small Cap 5.8 46 1 5.4 0.0

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%.

Content on this tab for subscribers only**

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 NetherlanIds
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 12.1 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.