iShares MSCI Netherlands ETF
ALTAR
Score™
5.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
1.6x
P/BV
ratio
2.1x Div.
yield
2.8%


  • 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) $211
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 57
Wgt avg mkt cap (mns) $61,336
Large cap (>$10bn) 78.8%
Mid cap ($2-10bn) 13.2%
Small cap (<$2bn) 3.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ASML HOLDING NV 19.4 %
UNILEVER NV 12.6 %
PHILIPS ELECTRONICS NV 6.5 %
ING GROEP NV 6.1 %
PROSUS N.V. CLASS N 4.9 %
NXP SEMICONDUCTORS NV 4.7 %
ROYAL AHOLD DELHAIZE N.V. 4.1 %
HEINEKEN NV 3.6 %
KONINKLIJKE DSM NV 3.5 %
WOLTERS KLUWER 3.3 %
Total 68.6 %

TOP COUNTRY EXPOSURE
NETHERLANDS 91.4 %
BRITAIN 2.1 %
IRELAND 1.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.5% 18.6% 8.8% 7.6% 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.92 65%
MSCI EAFE 1.15 85%
MSCI Emg. Mkts. 0.81 72%

Technical Indicators
Recent close $32.46
30d moving avg. $33.86
Annualized volatility 13.8%
Short interest (ETF) 0.5%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 260
Turnover 4.0%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $1,881

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI Netherlands ETF 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: 50 bp ALTAR Score™: 5.5%


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 Europe Hedged Equity Fund 16.7 58 -8 7.7 +2.2
EZU iShares MSCI Eurozone ETF 12.7 49 1 6.8 +1.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 12.0 45 5 6.5 +1.0
FEZ SPDR EURO STOXX 50 ETF 11.1 29 21 7.2 +1.7
EURZ Xtrackers Eurozone Equity ETF 10.7 9 41 7.2 +1.7
FPXE First Trust IPOX Europe Equity Opportunities ETF 8.8 70 -20 3.9 -1.6
INTF iShares Edge MSCI Multifactor Intl ETF 7.9 30 20 8.3 +2.8
IQDG WisdomTree International Quality Dividend Growth Fund 7.4 38 12 6.4 +1.0
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 7.2 58 -8 6.1 +0.6
SMEZ SPDR EURO STOXX Small Cap ETF 7.1 45 5 5.4 -0.0
FPXI First Trust International Equity Opportunities ETF 6.8 70 -20 4.3 -1.2
DWCR Arrow DWA Country Rotation ETF 6.7 95 -45 4.0 -1.5
EFG iShares MSCI EAFE Growth ETF 6.5 40 10 4.7 -0.7
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 6.4 25 25 6.6 +1.1
EUMV iShares Edge MSCI Min Vol Europe ETF 6.3 25 25 5.3 -0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 6.3 45 5 6.5 +1.0
IDHQ Invesco S&P International Developed High Quality ETF 6.3 29 21 5.3 -0.1
ESGN Columbia Sustainable International Equity Income ETF 6.3 45 5 10.5 +5.0
IEUR iShares Core MSCI Europe ETF 6.2 9 41 7.0 +1.6
SCID Global X Scientific Beta Europe ETF 6.0 38 12 6.4 +0.9

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 Netherlands 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 12.4 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.