iShares MSCI Austria Investable
ALTAR
Score™
8.9% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.5x P/Sales
ratio
0.9x
P/BV
ratio
1.2x Div.
yield
3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Austria 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 Austrian market, as measured by the MSCI Austria Investable Market Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Mar 18, 1996
Assets (mns) $65
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 27
Wgt avg mkt cap (mns) $8,789
Large cap (>$10bn) 44.9%
Mid cap ($2-10bn) 42.5%
Small cap (<$2bn) 12.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ERSTE GROUP BANK AG 19.8 %
OMV AG 15.7 %
ANDRITZ AG 5.3 %
VOESTALPINE AG 4.9 %
RAIFFEISEN INTL BANK HOLDING 4.6 %
WIENERBERGER AG 4.5 %
CA IMMOBILIEN ANLAGEN AG 4.2 %
IMMOFINANZ AG 3.9 %
LENZING AG 2.7 %
TELEKOM AUSTRIA AG 2.5 %
Total 68.1 %

TOP COUNTRY EXPOSURE
AUSTRIA 87.4 %










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.
14.6% 0.7% 7.6% 2.8% 5.0%

Market Correlations
versus... Beta R-squared
S&P500 0.96 46%
MSCI EAFE 1.38 80%
MSCI Emg. Mkts. 1.00 69%

Technical Indicators
Recent close $20.92
30d moving avg. $20.02
Annualized volatility 17.2%
Short interest (ETF) 2.4%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 31
Turnover 1.0%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $127

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EWO Expense: 47 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWO
Ticker Fund
Name
Overlap1
vs EWO
(%)
Expense
ratio
(bp)
Savings
vs EWO
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWO
(%)
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 5.6 58 -11 7.4 -1.5
CRAK VanEck Vectors Oil Refiners 5.2 60 -13 12.6 +3.8
SMEZ SPDR Euro Stoxx Small Cap 4.5 46 1 5.4 -3.5
FEUZ First Trust Eurozone AlphaDex 3.2 80 -33 7.0 -1.9
DDEZ WisdomTree Dynamic Currency Hedged Europe Equity 2.7 43 4 6.7 -2.1
FEP First Trust Europe AlphaDEX 1.9 80 -33 7.3 -1.6
CGW Invesco S&P Global Water 1.6 62 -15 4.4 -4.5
ESGN Columbia Sustainable International Equity Income 1.6 45 2 9.7 +0.8
IEUS iShares MSCI Europe Small Cap 1.5 40 7 6.2 -2.7
DLS WisdomTree Int'l SmallCap Dividend 1.3 58 -11 8.4 -0.5
DWMF WisdomTree International Multifactor Fund 1.3 38 9 6.4 -2.5
SCID Global X Scientific Beta Europe 1.3 38 9 6.5 -2.4
DDLS WisdomTree Dynamic Currency Hedged Int'l SmallCap 1.3 43 4 8.5 -0.4
RFEU First Trust Riverfront Dynamic Europe 1.2 83 -36 6.2 -2.7
DBEZ Xtrackers MSCI EMU Hedged 0.9 45 2 6.4 -2.5
IFEU iShares FTSE EPRA/NAREIT Europe 0.9 48 -1 5.8 -3.0
EUFN iShares MSCI Europe Financial Sector 0.9 48 -1 8.9 +0.1
IDLV Invesco S&P Int'l Developed Low Volatility 0.9 25 22 6.4 -2.5
IDV iShares DJ Int'l Select Dividend 0.9 49 -2 8.5 -0.4
SCHC Schwab Intl Small-Cap Equity 0.9 12 35 6.6 -2.3

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

  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

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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 Austria Investable
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.3 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.