iShares MSCI Spain ETF
ALTAR
Score™		 5.9% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 13.9x P/Sales
ratio		 1.5x
P/BV
ratio		 1.8x Div.
yield		 3.2%


  • 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) $1,824
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 23
Wgt avg mkt cap (mns) $86,201
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 18.5 %
IBERDROLA SA 13.9 %
BANCO BILBAO VIZCAYA ARGENTA 13.5 %
INDITEX 4.9 %
CRITERIA CAIXACORP SA 4.7 %
GRUPO FERROVIAL 4.4 %
REPSOL YPF SA 4.1 %
AMADEUS IT HOLDING SA-A SHS 4.1 %
ACS ACTIVIDADES CONS Y SERV 4.0 %
BANCO DE SABADELL SA 3.7 %
Total 75.7 %

TOP COUNTRY EXPOSURE
SPAIN 94.4 %
BRITAIN 1.8 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
78.0% 78.0% 18.4% 10.2% 8.7%

Market Correlations
versus... Beta R-squared
S&P500 0.62 37%
MSCI EAFE 1.05 75%
MSCI Emg. Mkts. 0.75 44%

Technical Indicators
Recent close $54.65
30d moving avg. $53.62
Annualized volatility 18.1%
Short interest (ETF) 5.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 626
Turnover 1.9%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $547

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 231 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™: 5.9%


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
(%)
JIVE JPMorgan International Value ETF 45.9 55 -5 9.6 +3.6
HEDJ WisdomTree Europe Hedged Equity Fund 15.6 58 -8 5.6 -0.4
EUFN iShares MSCI Europe Financials ETF 11.9 51 -1 6.8 +0.8
EZU iShares MSCI Eurozone ETF 10.6 52 -2 5.7 -0.3
FEZ SPDR EURO STOXX 50 ETF 10.3 29 21 5.6 -0.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 9.5 45 5 6.0 +0.1
ITOL Tema International Durable Quality ETF 8.9 60 -10 4.7 -1.2
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 8.6 75 -25 6.5 +0.6
SMOG VanEck Low Carbon Energy ETF 8.4 61 -11 1.4 -4.5
FEUZ First Trust Eurozone AlphaDEX ETF 8.3 80 -30 6.5 +0.6
EFAS Global X MSCI SuperDividend EAFE ETF 7.9 57 -7 7.7 +1.8
IMTM iShares MSCI Intl Momentum Factor ETF 7.8 30 20 4.7 -1.3
JXI iShares Global Utilities ETF 7.6 43 7 5.3 -0.7
EUDG WisdomTree Europe Quality Dividend Growth Fund 7.6 58 -8 5.8 -0.2
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 7.4 58 -8 5.8 -0.1
IQDG WisdomTree International Quality Dividend Growth Fund 7.4 42 8 6.0 +0.0
IDMO Invesco S&P International Developed Momentum ETF 7.2 25 25 5.1 -0.8
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 7.1 79 -29 4.4 -1.5
DOL WisdomTree International LargeCap Dividend Fund 7.0 48 2 6.1 +0.2
FGD First Trust Dow Jones Global Select Dividend Index Fund 7.0 56 -6 10.1 +4.1
CGIE Capital Group International Equity ETF 6.9 54 -4 4.2 -1.7
IDV iShares International Select Dividend ETF 6.9 51 -1 9.4 +3.5
IPAV Global X Infrastructure Development ex-U.S. ETF 6.7 55 -5 5.9 -0.1
DTH WisdomTree International High Dividend Fund 6.5 58 -8 7.4 +1.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 6.3 25 25 6.4 +0.5
ICLN iShares Global Clean Energy ETF 6.3 41 9 2.8 -3.1
FICS First Trust International Developed Capital Strength ETF 6.1 70 -20 6.4 +0.5
OCEN IQ Clean Oceans ETF 6.0 45 5 5.1 -0.9
VCLN Virtus Duff & Phelps Clean Energy ETF 6.0 59 -9 3.6 -2.3
CLNR IQ Cleaner Transport ETF 5.8 45 5 4.9 -1.0
VWID Virtus WMC International Dividend ETF 5.7 49 1 7.4 +1.4
IEV iShares Europe ETF 5.7 67 -17 5.7 -0.2
EFV iShares MSCI EAFE Value ETF 5.6 34 16 7.7 +1.8
FLEE Franklin FTSE Europe ETF 5.6 9 41 6.3 +0.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 5.6 46 4 5.8 -0.1
BBEU JPMorgan BetaBuilders Europe ETF 5.5 9 41 6.2 +0.3
FEP First Trust Europe AlphaDEX Fund 5.5 80 -30 6.9 +0.9
CGDG Capital Group Dividend Growers ETF 5.4 47 3 5.3 -0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 5.4 40 10 6.4 +0.5
DWM WisdomTree International Equity Fund 5.3 48 2 6.3 +0.4
IEUR iShares Core MSCI Europe ETF 5.2 11 39 6.3 +0.4
VGK Vanguard FTSE Europe ETF 5.2 6 44 6.4 +0.5
UIVM VictoryShares International Value Momentum ETF 4.9 35 15 7.5 +1.6
SPEU SPDR Portfolio Europe ETF 4.9 7 43 6.3 +0.4
EUDV ProShares MSCI Europe Dividend Growers ETF 4.6 55 -5 5.4 -0.5
DWMF WisdomTree International Multifactor Fund 4.6 38 12 6.4 +0.5
FENI Fidelity Enhanced International ETF 4.5 28 22 5.6 -0.4
ICPY Tweedy, Browne International Insider Value ETF 4.5 80 -30 9.9 +4.0
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.5 9 41 8.3 +2.4
OEFA ALPS O’Shares International Developed Quality Dividend ETF 4.4 48 2 4.6 -1.3
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 4.2 46 4 5.4 -0.6
ESGD iShares ESG Aware MSCI EAFE ETF 4.1 20 30 5.7 -0.2
FAN First Trust Global Wind Energy ETF 4.1 60 -10 3.7 -2.2
IVLU iShares MSCI Intl Value Factor ETF 4.1 30 20 8.7 +2.7
IGF iShares Global Infrastructure ETF 4.1 41 9 4.4 -1.5
BKCI BNY Mellon Concentrated International ETF 4.1 80 -30 4.5 -1.4
SUPL ProShares Supply Chain Logistics ETF 4.1 58 -8 9.3 +3.4
VYMI Vanguard International High Dividend Yield ETF 4.1 17 33 8.2 +2.2
GII SPDR S&P Global Infrastructure ETF 4.1 40 10 4.4 -1.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 4.1 25 25 6.2 +0.3
EFAV iShares MSCI EAFE Min Vol Factor ETF 4.0 22 28 5.6 -0.4
IMOM Alpha Architect International Quantitative Momentum ETF 4.0 49 1 3.8 -2.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.9 39 11 5.8 -0.2
AWAY ETFMG Travel Tech ETF 3.9 76 -26 -0.1 -6.1
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 3.9 20 30 5.4 -0.5
TPIF Timothy Plan International ETF 3.8 62 -12 5.4 -0.6
EFA iShares MSCI EAFE ETF 3.8 35 15 5.7 -0.2
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.8 35 15 5.7 -0.2
HAP VanEck Natural Resources ETF 3.8 50 0 7.6 +1.7
AGQI First Trust Active Global Quality Income ETF 3.7 85 -35 4.6 -1.4
NUDM Nuveen ESG International Developed Markets Equity ETF 3.7 31 19 5.7 -0.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.7 36 14 5.8 -0.2
STXI Strive International Developed Markets ETF 3.6 29 21 5.6 -0.3
JHMD John Hancock Multifactor Developed International ETF 3.5 39 11 6.5 +0.5
HFXI IQ FTSE International Equity Currency Neutral ETF 3.5 20 30 5.9 -0.0
JHID John Hancock International High Dividend ETF 3.4 46 4 8.3 +2.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.4 42 8 5.5 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 3.4 20 30 5.8 -0.1
CGXU Capital Group International Focus Equity ETF 3.4 54 -4 4.7 -1.3
COPY Tweedy, Browne Insider + Value ETF 3.4 80 -30 10.2 +4.3
JIRE JPMorgan International Research Enhanced Equity ETF 3.4 24 26 6.2 +0.3
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 3.3 20 30 5.6 -0.4
INTF iShares International Equity Factor ETF 3.3 15 35 6.5 +0.6
IEFA iShares Core MSCI EAFE ETF 3.2 7 43 6.1 +0.1
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.2 30 20 6.0 +0.1
DEW WisdomTree Global High Dividend Fund 3.1 58 -8 7.5 +1.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.1 47 3 5.8 -0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.0 45 5 7.4 +1.5
QINT American Century Quality Diversified International ETF 3.0 39 11 6.1 +0.2
BKIE BNY Mellon International Equity ETF 3.0 4 46 6.0 +0.1
IQSI IQ Candriam International Equity ETF 3.0 15 35 5.6 -0.3
IQLT iShares MSCI Intl Quality Factor ETF 3.0 30 20 5.3 -0.6
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.9 12 38 5.2 -0.8
IQRA IQ CBRE Real Assets ETF 2.9 65 -15 5.3 -0.6
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 2.9 80 -30 5.5 -0.4
FDEV Fidelity International Multifactor ETF 2.9 18 32 6.6 +0.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.9 14 36 5.5 -0.4
FNDF Schwab Fundamental International Large Co. Index ETF 2.9 25 25 8.1 +2.2
IDEV iShares Core MSCI International Developed Markets ETF 2.9 4 46 6.0 +0.1
CIL VictoryShares International Volatility Wtd ETF 2.8 45 5 5.7 -0.2
SCHF Schwab International Equity ETF 2.8 6 44 6.2 +0.2
TOLL Tema Durable Quality ETF 2.8 75 -25 4.1 -1.8
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 2.8 32 18 5.5 -0.4
DIVI Franklin International Core Dividend Tilt Index ETF 2.8 9 41 6.9 +1.0
WTRE WisdomTree New Economy Real Estate Fund 2.8 58 -8 4.7 -1.3
SRVR Pacer Data & Infrastructure Real Estate ETF 2.8 55 -5 4.1 -1.9
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.7 70 -20 3.3 -2.6
VEA Vanguard FTSE Developed Markets ETF 2.7 3 47 6.1 +0.1
WLDR Affinity World Leaders Equity ETF 2.7 67 -17 6.4 +0.5
FIVA Fidelity International Value Factor ETF 2.7 18 32 8.0 +2.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.7 50 0 5.4 -0.5
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.6 65 -15 9.7 +3.8
RFDI First Trust Riverfront Dynamic Developed International ETF 2.6 83 -33 8.0 +2.1
SPDW SPDR Portfolio Developed World ex-US ETF 2.6 3 47 6.0 +0.1
NUKZ Range Nuclear Renaissance Index ETF 2.6 85 -35 0.9 -5.0
FDD First Trust Stoxx European Select Dividend Index Fund 2.6 58 -8 9.8 +3.9
DFIV Dimensional International Value ETF 2.6 27 23 8.0 +2.1
IXG iShares Global Financials ETF 2.6 42 8 5.9 -0.0
DIHP Dimensional International High Profitability ETF 2.6 29 21 5.8 -0.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.6 80 -30 3.4 -2.5
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.5 65 -15 7.1 +1.2
CWI SPDR MSCI ACWI ex-US ETF 2.5 30 20 6.4 +0.5
DFSI Dimensional International Sustainability Core 1 ETF 2.5 24 26 5.4 -0.5
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 25 6.2 +0.3
IDHQ Invesco S&P International Developed High Quality ETF 2.4 29 21 5.3 -0.6
FDFF Fidelity Disruptive Finance ETF 2.3 50 0 3.9 -2.0
ACWX iShares MSCI ACWI ex U.S. ETF 2.3 34 16 6.4 +0.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.3 41 9 6.4 +0.4
DFAI Dimensional International Core Equity Market ETF 2.2 18 32 6.0 +0.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.2 39 11 6.8 +0.8
JIG JPMorgan International Growth ETF 2.2 55 -5 3.9 -2.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 2.2 24 26 6.4 +0.5
VEU Vanguard FTSE All-World ex-US Index Fund 2.2 4 46 6.8 +0.9
IGRO iShares International Dividend Growth ETF 2.1 15 35 6.2 +0.3
AIVI WisdomTree International AI Enhanced Value Fund 2.1 58 -8 6.1 +0.2
WWJD Inspire International ETF 2.1 80 -30 6.4 +0.5
AVIV Avantis International Large Cap Value ETF 2.1 25 25 7.4 +1.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.0 18 32 6.4 +0.5
TTAI FCF International Quality ETF 2.0 59 -9 6.5 +0.6
FRNW Fidelity Clean Energy ETF 2.0 39 11 2.1 -3.9
VXUS Vanguard Total International Stock ETF 2.0 5 45 6.8 +0.8
IXUS iShares Core MSCI Total International Stock ETF 2.0 7 43 6.7 +0.8
POW VistaShares Electrification Supercycle ETF 2.0 75 -25 2.8 -3.1
DGT State Street SPDR Global Dow ETF 2.0 50 0 5.9 +0.0
RCGE RockCreek Global Equality ETF 2.0 95 -45 6.0 +0.1
LVHI Franklin International Low Volatility High Dividend Index ET 1.9 40 10 9.1 +3.2
JPIN J.P. Morgan Diversified Return International Equity ETF 1.9 37 13 7.2 +1.3
VSGX Vanguard ESG International Stock ETF 1.8 10 40 6.6 +0.7
EFG iShares MSCI EAFE Growth ETF 1.8 36 14 3.6 -2.3
GCOW Pacer Global Cash Cows Dividend ETF 1.8 60 -10 9.6 +3.7
ESGG FlexShares STOXX Global ESG Select Index Fund 1.8 42 8 4.7 -1.2
CGGO Capital Group Global Growth Equity ETF 1.8 47 3 3.8 -2.2
DMXF iShares ESG Advanced MSCI EAFE ETF 1.8 12 38 5.0 -1.0
FDCF Fidelity Disruptive Communications ETF 1.8 50 0 3.4 -2.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 3 6.9 +1.0
DFIC Dimensional International Core Equity 2 ETF 1.8 23 27 6.3 +0.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.7 80 -30 7.3 +1.4
CZAR Themes Natural Monopoly ETF 1.7 35 15 4.9 -1.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 1.7 58 -8 3.8 -2.2
AVDE Avantis International Equity ETF 1.6 23 27 6.3 +0.4
FIDI Fidelity International High Dividend ETF 1.6 18 32 7.4 +1.4
AVSD Avantis Responsible International Equity ETF 1.6 23 27 4.6 -1.3
DXIV Dimensional International Vector Equity ETF 1.6 34 16 6.6 +0.7
RXI iShares Global Consumer Discretionary ETF 1.6 41 9 7.1 +1.2
OAIM OneAscent International Equity ETF 1.6 95 -45 4.6 -1.3
KOCG FIS Knights of Columbus Global Belief ETF 1.6 75 -25 4.4 -1.5
IQDF FlexShares International Quality Dividend Index Fund 1.6 47 3 7.5 +1.6
AKAF The Frontier Economic Fund 1.5 20 30 5.5 -0.5
IMFL Invesco International Developed Dynamic Multifactor ETF 1.5 34 16 5.0 -0.9
XT iShares Exponential Technologies ETF 1.5 46 4 4.2 -1.7
DIM WisdomTree International MidCap Dividend Fund 1.4 58 -8 6.4 +0.5
ISCF iShares International SmallCap Equity Factor ETF 1.4 23 27 7.3 +1.4
SCHY Schwab International Dividend Equity ETF 1.4 14 36 8.8 +2.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.4 30 20 6.6 +0.6
VIDI Vident International Equity Strategy ETF 1.3 61 -11 9.2 +3.3
VOLT Tema Electrification ETF 1.3 75 -25 3.1 -2.9
PPIE Putnam PanAgora ESG International Equity ETF 1.3 49 1 6.9 +1.0
TMFG Motley Fool Global Opportunities ETF 1.2 85 -35 3.5 -2.4
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.2 65 -15 4.0 -1.9
DWX SPDR S&P International Dividend ETF 1.1 45 5 6.8 +0.9
UMMA Wahed Dow Jones Islamic World ETF 1.1 65 -15 3.8 -2.1
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 40 5.0 -1.0
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 1.1 25 25 5.4 -0.5
BLES Inspire Global Hope ETF 1.1 61 -11 6.0 +0.1
URAN Themes Uranium & Nuclear ETF 1.1 35 15 1.1 -4.9
NXTG First Trust Indxx NextG ETF 1.0 70 -20 4.4 -1.6
JADE JPMorgan Active Developing Markets Equity ETF 1.0 65 -15 6.5 +0.5
FYLD Cambria Foreign Shareholder Yield ETF 1.0 59 -9 10.2 +4.3
QWLD SPDR MSCI World StrategicFactors ETF 1.0 30 20 5.1 -0.8
KOKU Xtrackers MSCI Kokusai Equity ETF 1.0 9 41 4.5 -1.4
TOK iShares MSCI Kokusai ETF 1.0 26 24 4.3 -1.6
JETS U.S. Global Jets ETF 1.0 60 -10 2.1 -3.8
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 15 3.6 -2.3
JSTC Adasina Social Justice All Cap Global ETF 1.0 89 -39 4.2 -1.7
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.0 75 -25 2.3 -3.6
URTH iShares MSCI World ETF 0.9 24 26 4.4 -1.5
GEW Cambria Global EW ETF 0.9 29 21 5.3 -0.6
GLOF iShares Global Equity Factor ETF 0.9 20 30 5.9 -0.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.9 9 41 4.9 -1.1
CRTC Xtrackers US National Critical Technologies ETF 0.9 35 15 4.1 -1.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.9 12 38 4.3 -1.6
DISV Dimensional International Small Cap Value ETF 0.9 42 8 7.9 +2.0
IOO iShares Global 100 ETF 0.8 41 9 3.9 -2.0
ACWI iShares MSCI ACWI ETF 0.8 32 18 4.7 -1.2
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 0.8 58 -8 7.3 +1.4
PBD Invesco Global Clean Energy ETF 0.8 75 -25 0.6 -5.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.8 29 21 6.9 +0.9
IXC iShares Global Energy ETF 0.8 44 6 9.1 +3.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.8 20 30 4.8 -1.1
IXP iShares Global Comm Services ETF 0.7 42 8 5.4 -0.6
VT Vanguard Total World Stock ETF 0.7 6 44 5.1 -0.8
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -10 3.2 -2.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.7 33 17 8.1 +2.2
KNCT Invesco Next Gen Connectivity ETF 0.6 40 10 3.9 -2.0
EXI iShares Global Industrials ETF 0.6 42 8 3.6 -2.3
DFIS Dimensional International Small Cap ETF 0.6 39 11 6.2 +0.2
CCNR ALPS CoreCommodity Natural Resources ETF 0.5 39 11 7.3 +1.4
DTAN Sparkline International Intangible Value ETF 0.5 55 -5 7.4 +1.5
GNR SPDR S&P Global Natural Resources ETF 0.4 40 10 9.0 +3.0
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -15 3.5 -2.4
FNDC Schwab Fundamental International Small Co. Index ETF 0.4 39 11 5.2 -0.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 4 8.2 +2.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.3 49 1 6.1 +0.2
AVDV Avantis International Small Cap Value ETF 0.3 36 14 7.6 +1.7
CGGR Capital Group Growth ETF 0.2 39 11 2.7 -3.2
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -5 7.9 +2.0
INEQ Columbia International Equity Income ETF 0.2 45 5 7.5 +1.6
IBUY Amplify Online Retail ETF 0.1 65 -15 1.3 -4.6
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 29 3.1 -2.8
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 30 5.3 -0.6
IXJ iShares Global Healthcare ETF 0.0 42 8 5.7 -0.2

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 11.2 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.69 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.