iShares MSCI Spain ETF
ALTAR
Score™		 6.7% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 13.2x P/Sales
ratio		 1.4x
P/BV
ratio		 1.6x Div.
yield		 3.3%


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

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 12, 1996
Assets (mns) $1,520
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 20
Wgt avg mkt cap (mns) $82,945
Large cap (>$10bn) 96.0%
Mid cap ($2-10bn) 4.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BANCO SANTANDER SA 18.7 %
IBERDROLA SA 15.0 %
BANCO BILBAO VIZCAYA ARGENTA 13.6 %
GRUPO FERROVIAL 5.0 %
INDITEX 4.7 %
REPSOL YPF SA 4.7 %
CRITERIA CAIXACORP SA 4.4 %
AMADEUS IT HOLDING SA-A SHS 4.0 %
BANCO DE SABADELL SA 3.9 %
ACS ACTIVIDADES CONS Y SERV 3.7 %
Total 77.7 %

TOP COUNTRY EXPOSURE
SPAIN 94.7 %
BRITAIN 1.7 %









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.
61.6% 47.9% 22.0% 7.9% 8.3%

Market Correlations
versus... Beta R-squared
S&P500 0.66 22%
MSCI EAFE 0.84 47%
MSCI Emg. Mkts. 0.66 34%

Technical Indicators
Recent close $50.78
30d moving avg. $50.03
Annualized volatility 18.1%
Short interest (ETF) 1.7%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 585
Turnover 2.0%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $547

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 232 potential alternatives to the iShares MSCI Spain ETF ETF based on the alternatives' overlap in portfolio holdings with EWP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWP Expense: 50 bp ALTAR Score™: 6.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWP
Ticker Fund
Name		 Overlap1
vs EWP
(%)		 Expense
ratio
(bp)		 Savings
vs EWP
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWP
(%)
HEDJ WisdomTree Europe Hedged Equity Fund 19.1 58 -8 6.5 -0.2
EUFN iShares MSCI Europe Financials ETF 11.5 51 -1 7.9 +1.2
VCLN Virtus Duff & Phelps Clean Energy ETF 10.4 59 -9 4.1 -2.7
EZU iShares MSCI Eurozone ETF 10.2 52 -2 6.4 -0.3
BLLD JPMorgan Sustainable Infrastructure ETF 10.0 49 1 5.9 -0.8
FEZ SPDR EURO STOXX 50 ETF 9.9 29 21 6.4 -0.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 9.8 45 5 6.7 -0.0
EFAS Global X MSCI SuperDividend EAFE ETF 9.2 57 -7 8.6 +1.9
ITOL Tema International Durable Quality ETF 9.1 60 -10 0.0 -6.7
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 9.0 75 -25 6.8 +0.1
DTH WisdomTree International High Dividend Fund 8.6 58 -8 8.0 +1.3
SMOG VanEck Low Carbon Energy ETF 8.1 61 -11 1.6 -5.2
DOL WisdomTree International LargeCap Dividend Fund 7.5 48 2 6.9 +0.2
FEUZ First Trust Eurozone AlphaDEX ETF 7.1 80 -30 7.7 +1.0
IDMO Invesco S&P International Developed Momentum ETF 7.1 25 25 5.9 -0.9
IMTM iShares MSCI Intl Momentum Factor ETF 7.1 30 20 5.4 -1.3
JXI iShares Global Utilities ETF 6.9 43 7 5.5 -1.3
IPAV Global X Infrastructure Development ex-U.S. ETF 6.9 55 -5 6.9 +0.2
GSFP Goldman Sachs Future Planet Equity ETF 6.7 75 -25 4.2 -2.5
ICLN iShares Global Clean Energy ETF 6.2 41 9 3.2 -3.5
IDV iShares International Select Dividend ETF 6.1 51 -1 10.0 +3.3
DWM WisdomTree International Equity Fund 6.0 48 2 7.1 +0.4
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 6.0 79 -29 5.1 -1.7
FICS First Trust International Developed Capital Strength ETF 6.0 70 -20 7.4 +0.7
IMOM Alpha Architect International Quantitative Momentum ETF 6.0 49 1 4.5 -2.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 6.0 40 10 7.1 +0.4
UIVM VictoryShares International Value Momentum ETF 5.9 35 15 8.3 +1.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 5.6 25 25 7.1 +0.4
IEV iShares Europe ETF 5.5 67 -17 6.6 -0.2
VWID Virtus WMC International Dividend ETF 5.4 49 1 8.0 +1.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 5.3 46 4 6.5 -0.2
BBEU JPMorgan BetaBuilders Europe ETF 5.2 9 41 7.0 +0.3
FLEE Franklin FTSE Europe ETF 5.2 9 41 7.0 +0.3
INEQ Columbia International Equity Income ETF 5.2 45 5 7.6 +0.9
FGD First Trust Dow Jones Global Select Dividend Index Fund 5.1 56 -6 10.4 +3.7
TEMP JPMorgan Climate Change Solutions ETF 5.0 49 1 5.6 -1.1
VGK Vanguard FTSE Europe ETF 5.0 6 44 7.3 +0.6
IEUR iShares Core MSCI Europe ETF 5.0 11 39 7.1 +0.4
EUDV ProShares MSCI Europe Dividend Growers ETF 4.9 55 -5 6.2 -0.5
JHID John Hancock International High Dividend ETF 4.9 46 4 8.6 +1.9
EFV iShares MSCI EAFE Value ETF 4.7 34 16 8.6 +1.9
SPEU SPDR Portfolio Europe ETF 4.7 7 43 7.2 +0.4
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.7 58 -8 6.5 -0.3
IQDG WisdomTree International Quality Dividend Growth Fund 4.7 42 8 6.6 -0.1
IVLU iShares MSCI Intl Value Factor ETF 4.7 30 20 9.7 +3.0
EUDG WisdomTree Europe Quality Dividend Growth Fund 4.7 58 -8 6.6 -0.1
FEP First Trust Europe AlphaDEX Fund 4.7 80 -30 8.1 +1.4
FENI Fidelity Enhanced International ETF 4.6 28 22 6.2 -0.5
ICPY Tweedy, Browne International Insider Value ETF 4.6 80 -30 0.0 -6.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.6 9 41 8.8 +2.1
OCEN IQ Clean Oceans ETF 4.5 45 5 5.1 -1.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 4.5 42 8 6.4 -0.4
RFEU First Trust Riverfront Dynamic Europe ETF 4.4 83 -33 10.0 +3.3
EFAV iShares MSCI EAFE Min Vol Factor ETF 4.3 22 28 5.9 -0.8
JIRE JPMorgan International Research Enhanced Equity ETF 4.3 24 26 6.9 +0.2
CLNR IQ Cleaner Transport ETF 4.2 45 5 5.0 -1.7
DWMF WisdomTree International Multifactor Fund 4.2 38 12 7.0 +0.3
FAN First Trust Global Wind Energy ETF 4.2 60 -10 4.1 -2.7
NUDM Nuveen ESG International Developed Markets Equity ETF 4.1 31 19 5.9 -0.8
CGXU Capital Group International Focus Equity ETF 4.0 54 -4 5.5 -1.3
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 4.0 46 4 5.6 -1.1
CGDG Capital Group Dividend Growers ETF 4.0 47 3 6.1 -0.6
BKCI BNY Mellon Concentrated International ETF 4.0 80 -30 5.2 -1.6
SUPL ProShares Supply Chain Logistics ETF 4.0 58 -8 10.5 +3.8
AWAY ETFMG Travel Tech ETF 4.0 76 -26 -0.1 -6.8
VYMI Vanguard International High Dividend Yield ETF 3.9 17 33 9.1 +2.4
JHMD John Hancock Multifactor Developed International ETF 3.9 39 11 7.2 +0.5
HAP VanEck Natural Resources ETF 3.9 50 0 8.9 +2.2
IGF iShares Global Infrastructure ETF 3.9 41 9 4.6 -2.1
GII SPDR S&P Global Infrastructure ETF 3.9 40 10 4.6 -2.1
TPIF Timothy Plan International ETF 3.8 62 -12 6.1 -0.7
QINT American Century Quality Diversified International ETF 3.8 39 11 6.9 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 3.8 20 30 6.2 -0.6
ESGD iShares ESG Aware MSCI EAFE ETF 3.8 20 30 6.5 -0.2
AGQI First Trust Active Global Quality Income ETF 3.7 85 -35 4.6 -2.1
IQRA IQ CBRE Real Assets ETF 3.7 65 -15 5.7 -1.0
EFA iShares MSCI EAFE ETF 3.6 35 15 6.4 -0.3
DIM WisdomTree International MidCap Dividend Fund 3.6 58 -8 7.2 +0.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.6 35 15 6.3 -0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.6 25 25 6.9 +0.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.6 47 3 5.7 -1.0
CGIE Capital Group International Equity ETF 3.6 54 -4 4.9 -1.8
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 3.6 58 -8 8.5 +1.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.5 36 14 6.3 -0.4
HFXI IQ FTSE International Equity Currency Neutral ETF 3.5 20 30 6.6 -0.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.5 39 11 6.4 -0.4
STXI Strive International Developed Markets ETF 3.5 29 21 6.4 -0.3
DEW WisdomTree Global High Dividend Fund 3.5 58 -8 8.3 +1.6
COPY Tweedy, Browne Insider + Value ETF 3.5 80 -30 12.1 +5.4
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.4 30 20 6.8 +0.1
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 3.4 20 30 6.1 -0.6
CIL VictoryShares International Volatility Wtd ETF 3.3 45 5 6.4 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 3.3 20 30 6.5 -0.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 3.1 32 18 6.0 -0.8
IEFA iShares Core MSCI EAFE ETF 3.1 7 43 6.8 +0.0
FIVA Fidelity International Value Factor ETF 3.1 18 32 9.3 +2.6
INTF iShares International Equity Factor ETF 3.1 15 35 7.4 +0.6
FNDF Schwab Fundamental International Large Co. Index ETF 3.0 25 25 9.0 +2.3
BKIE BNY Mellon International Equity ETF 3.0 4 46 6.7 -0.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 3.0 12 38 5.9 -0.8
TOLL Tema Durable Quality ETF 3.0 75 -25 5.3 -1.4
IGRO iShares International Dividend Growth ETF 3.0 15 35 7.1 +0.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.9 45 5 8.4 +1.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 2.9 80 -30 6.0 -0.7
FDD First Trust Stoxx European Select Dividend Index Fund 2.9 58 -8 11.2 +4.5
WTRE WisdomTree New Economy Real Estate Fund 2.9 58 -8 8.0 +1.3
SRVR Pacer Data & Infrastructure Real Estate ETF 2.9 55 -5 4.5 -2.2
JIG JPMorgan International Growth ETF 2.8 55 -5 4.7 -2.0
IQSI IQ Candriam International Equity ETF 2.8 15 35 6.3 -0.5
IQLT iShares MSCI Intl Quality Factor ETF 2.7 30 20 6.2 -0.5
IDEV iShares Core MSCI International Developed Markets ETF 2.7 4 46 6.8 +0.0
JIVE JPMorgan International Value ETF 2.7 55 -5 10.9 +4.2
SCHF Schwab International Equity ETF 2.7 6 44 6.9 +0.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.7 50 0 5.9 -0.8
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.7 70 -20 4.0 -2.7
VEA Vanguard FTSE Developed Markets ETF 2.6 3 47 6.9 +0.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.6 80 -30 4.2 -2.5
RFDI First Trust Riverfront Dynamic Developed International ETF 2.6 83 -33 9.0 +2.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.6 14 36 6.0 -0.8
SPDW SPDR Portfolio Developed World ex-US ETF 2.5 3 47 6.7 -0.0
DFSI Dimensional International Sustainability Core 1 ETF 2.5 24 26 6.2 -0.5
FDCF Fidelity Disruptive Communications ETF 2.5 50 0 4.3 -2.4
IXG iShares Global Financials ETF 2.5 42 8 6.7 +0.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.5 65 -15 10.2 +3.5
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.5 65 -15 8.1 +1.4
EFG iShares MSCI EAFE Growth ETF 2.4 36 14 4.3 -2.5
POW VistaShares Electrification Supercycle ETF 2.4 75 -25 3.6 -3.2
DIHP Dimensional International High Profitability ETF 2.4 29 21 6.7 -0.0
DIVI Franklin International Core Dividend Tilt Index ETF 2.4 9 41 7.6 +0.9
IDHQ Invesco S&P International Developed High Quality ETF 2.4 29 21 6.4 -0.3
CWI SPDR MSCI ACWI ex-US ETF 2.3 30 20 7.4 +0.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.3 39 11 7.7 +1.0
JPIN J.P. Morgan Diversified Return International Equity ETF 2.3 37 13 7.9 +1.1
DFIV Dimensional International Value ETF 2.3 27 23 8.9 +2.2
AVIV Avantis International Large Cap Value ETF 2.2 25 25 8.3 +1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.2 41 9 7.1 +0.4
ACWX iShares MSCI ACWI ex U.S. ETF 2.2 34 16 7.3 +0.6
NUKZ Range Nuclear Renaissance Index ETF 2.2 85 -35 1.4 -5.3
IDOG ALPS International Sector Dividend Dogs ETF 2.2 50 0 11.4 +4.7
FRNW Fidelity Clean Energy ETF 2.2 39 11 2.2 -4.5
DFAI Dimensional International Core Equity Market ETF 2.1 18 32 6.8 +0.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.1 18 32 7.3 +0.5
VEU Vanguard FTSE All-World ex-US Index Fund 2.1 4 46 7.7 +1.0
RCGE RockCreek Global Equality ETF 2.0 95 -45 6.8 +0.0
TTAI FCF International Quality ETF 2.0 59 -9 7.3 +0.5
PPIE Putnam PanAgora ESG International Equity ETF 2.0 49 1 7.1 +0.4
IDLV Invesco S&P International Developed Low Volatility ETF 2.0 25 25 6.6 -0.1
DMXF iShares ESG Advanced MSCI EAFE ETF 2.0 12 38 5.3 -1.4
DGT State Street SPDR Global Dow ETF 1.9 50 0 6.6 -0.1
VXUS Vanguard Total International Stock ETF 1.9 5 45 7.6 +0.9
IXUS iShares Core MSCI Total International Stock ETF 1.9 7 43 7.5 +0.8
WWJD Inspire International ETF 1.9 80 -30 7.1 +0.4
AIVI WisdomTree International AI Enhanced Value Fund 1.9 58 -8 6.9 +0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 3 7.8 +1.1
VSGX Vanguard ESG International Stock ETF 1.8 10 40 7.5 +0.8
DFIC Dimensional International Core Equity 2 ETF 1.7 23 27 7.1 +0.4
AKAF The Frontier Economic Fund 1.7 20 30 6.6 -0.2
ESGG FlexShares STOXX Global ESG Select Index Fund 1.7 42 8 5.3 -1.4
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 1.6 58 -8 4.4 -2.3
AVDE Avantis International Equity ETF 1.6 23 27 7.1 +0.4
FIDI Fidelity International High Dividend ETF 1.6 18 32 8.1 +1.4
RXI iShares Global Consumer Discretionary ETF 1.6 41 9 8.4 +1.7
CZAR Themes Natural Monopoly ETF 1.5 35 15 5.7 -1.1
DXIV Dimensional International Vector Equity ETF 1.5 34 16 7.6 +0.8
IMFL Invesco International Developed Dynamic Multifactor ETF 1.5 34 16 5.7 -1.1
FDEV Fidelity International Multifactor ETF 1.5 18 32 7.5 +0.8
AVSD Avantis Responsible International Equity ETF 1.5 23 27 5.1 -1.6
ISCF iShares International SmallCap Equity Factor ETF 1.4 23 27 8.2 +1.5
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.4 80 -30 8.6 +1.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.4 75 -25 2.9 -3.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.3 30 20 7.5 +0.8
CGGO Capital Group Global Growth Equity ETF 1.3 47 3 4.2 -2.5
WLDR Affinity World Leaders Equity ETF 1.3 67 -17 7.4 +0.7
URAN Themes Uranium & Nuclear ETF 1.3 35 15 1.4 -5.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.3 24 26 7.2 +0.5
TMFG Motley Fool Global Opportunities ETF 1.3 85 -35 4.2 -2.6
FYLD Cambria Foreign Shareholder Yield ETF 1.3 59 -9 11.3 +4.6
VOLT Tema Electrification ETF 1.3 75 -25 3.6 -3.2
GCOW Pacer Global Cash Cows Dividend ETF 1.2 60 -10 10.3 +3.6
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.2 65 -15 4.7 -2.0
VIDI Vident International Equity Strategy ETF 1.2 61 -11 10.4 +3.7
XT iShares Exponential Technologies ETF 1.2 46 4 4.7 -2.1
JSTC Adasina Social Justice All Cap Global ETF 1.1 89 -39 5.2 -1.6
UMMA Wahed Dow Jones Islamic World ETF 1.1 65 -15 4.8 -1.9
QWLD SPDR MSCI World StrategicFactors ETF 1.1 30 20 5.9 -0.9
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 40 5.7 -1.1
DWX SPDR S&P International Dividend ETF 1.1 45 5 7.2 +0.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.0 12 38 5.1 -1.6
JETS U.S. Global Jets ETF 1.0 60 -10 3.5 -3.2
SCHY Schwab International Dividend Equity ETF 1.0 14 36 9.4 +2.7
IQDF FlexShares International Quality Dividend Index Fund 1.0 47 3 8.4 +1.7
BLES Inspire Global Hope ETF 1.0 61 -11 7.0 +0.2
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 1.0 25 25 6.0 -0.7
TOK iShares MSCI Kokusai ETF 0.9 26 24 5.0 -1.7
KOKU Xtrackers MSCI Kokusai Equity ETF 0.9 9 41 5.2 -1.6
GLOF iShares Global Equity Factor ETF 0.9 20 30 6.8 +0.0
URTH iShares MSCI World ETF 0.9 24 26 5.0 -1.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.9 9 41 5.6 -1.1
KOCG FIS Knights of Columbus Global Belief ETF 0.9 75 -25 4.8 -1.9
AVDV Avantis International Small Cap Value ETF 0.8 36 14 9.0 +2.3
IXC iShares Global Energy ETF 0.8 44 6 9.8 +3.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.8 33 17 9.3 +2.5
JADE JPMorgan Active Developing Markets Equity ETF 0.8 65 -15 7.6 +0.9
ACWI iShares MSCI ACWI ETF 0.8 32 18 5.4 -1.3
NXTG First Trust Indxx NextG ETF 0.8 70 -20 5.0 -1.7
PBD Invesco Global Clean Energy ETF 0.8 75 -25 0.9 -5.9
IOO iShares Global 100 ETF 0.8 41 9 4.6 -2.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.8 20 30 5.6 -1.2
DISV Dimensional International Small Cap Value ETF 0.8 42 8 9.0 +2.2
IXP iShares Global Comm Services ETF 0.7 42 8 6.0 -0.8
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -10 3.9 -2.8
VT Vanguard Total World Stock ETF 0.7 6 44 5.8 -0.9
GEW Cambria Global EW ETF 0.7 29 21 0.0 -6.7
DFIS Dimensional International Small Cap ETF 0.7 39 11 7.1 +0.4
KNCT Invesco Next Gen Connectivity ETF 0.6 40 10 4.6 -2.1
EXI iShares Global Industrials ETF 0.6 42 8 4.4 -2.3
LVHI Franklin International Low Volatility High Dividend Index ET 0.5 40 10 9.6 +2.9
GNR SPDR S&P Global Natural Resources ETF 0.5 40 10 10.4 +3.7
DTAN Sparkline International Intangible Value ETF 0.5 55 -5 8.1 +1.4
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 4 9.6 +2.9
CGGR Capital Group Growth ETF 0.4 39 11 3.5 -3.3
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -15 4.3 -2.5
AVDS Avantis International Small Cap Equity ETF 0.4 30 20 7.0 +0.3
CCNR ALPS CoreCommodity Natural Resources ETF 0.3 39 11 9.3 +2.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.3 49 1 7.0 +0.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.3 39 11 5.8 -0.9
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -5 9.0 +2.2
RODE Hartford Multifactor Diversified International ETF 0.2 29 21 10.3 +3.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.2 29 21 7.6 +0.9
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 29 3.8 -2.9
IBUY Amplify Online Retail ETF 0.1 65 -15 2.8 -4.0
IXJ iShares Global Healthcare ETF 0.0 42 8 6.7 -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%.

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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 Spain 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 11.1 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 6.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.68 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.