iShares MSCI Spain ETF
ALTAR
Score™		 7.8% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 11.3x P/Sales
ratio		 1.2x
P/BV
ratio		 1.3x Div.
yield		 4.2%


  • 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) $909
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 18
Wgt avg mkt cap (mns) $66,587
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 17.8 %
IBERDROLA SA 15.2 %
BANCO BILBAO VIZCAYA ARGENTA 13.4 %
CRITERIA CAIXACORP SA 4.8 %
BANCO DE SABADELL SA 4.7 %
TELEFONICA SA 4.7 %
CELLNEX TELECOM S.A. 4.6 %
AENA SA 4.4 %
AMADEUS IT HOLDING SA-A SHS 4.3 %
ACS ACTIVIDADES CONS Y SERV 4.3 %
Total 78.2 %

TOP COUNTRY EXPOSURE
SPAIN 100.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
16.2% 25.3% 9.4% 3.5% 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.79 40%
MSCI EAFE 1.09 78%
MSCI Emg. Mkts. 0.85 48%

Technical Indicators
Recent close $38.73
30d moving avg. $37.08
Annualized volatility 21.3%
Short interest (ETF) 3.6%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 405
Turnover 1.7%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $547

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 226 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™: 7.8%


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 14.5 58 -8 6.6 -1.3
VCLN Virtus Duff & Phelps Clean Energy ETF 9.5 59 -9 6.2 -1.6
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 9.2 75 -25 7.3 -0.5
EUFN iShares MSCI Europe Financials ETF 9.0 51 -1 8.5 +0.7
SMOG VanEck Low Carbon Energy ETF 8.6 61 -11 1.5 -6.3
EFAS Global X MSCI SuperDividend EAFE ETF 8.6 57 -7 8.5 +0.7
EZU iShares MSCI Eurozone ETF 8.6 52 -2 6.8 -1.0
BLLD JPMorgan Sustainable Infrastructure ETF 8.2 49 1 4.8 -3.0
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 8.1 45 5 6.6 -1.2
FEZ SPDR EURO STOXX 50 ETF 8.0 29 21 7.2 -0.7
FEUZ First Trust Eurozone AlphaDEX ETF 7.5 80 -30 9.2 +1.4
GII SPDR S&P Global Infrastructure ETF 7.4 40 10 4.9 -2.9
IGF iShares Global Infrastructure ETF 7.4 41 9 4.9 -2.9
IPAV Global X Infrastructure Development ex-U.S. ETF 6.8 55 -5 4.5 -3.4
GVAL Cambria Global Value ETF 6.7 68 -18 11.3 +3.5
DTH WisdomTree International High Dividend Fund 6.6 58 -8 9.1 +1.2
ICLN iShares Global Clean Energy ETF 6.5 41 9 6.4 -1.5
DOL WisdomTree International LargeCap Dividend Fund 6.4 48 2 7.5 -0.3
IDV iShares International Select Dividend ETF 6.4 51 -1 11.6 +3.8
FICS First Trust International Developed Capital Strength ETF 5.8 70 -20 5.7 -2.1
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 5.8 80 -30 5.7 -2.1
JXI iShares Global Utilities ETF 5.6 43 7 6.0 -1.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 5.5 56 -6 12.6 +4.8
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 5.5 46 4 4.9 -2.9
UIVM VictoryShares International Value Momentum ETF 5.4 35 15 9.5 +1.6
GSFP Goldman Sachs Future Planet Equity ETF 5.3 75 -25 4.8 -3.0
TOLL Tema Monopolies and Oligopolies ETF 5.3 75 -25 3.8 -4.0
OEUR ALPS O'Shares Europe Quality Dividend ETF 5.1 48 2 5.9 -1.9
DWM WisdomTree International Equity Fund 5.1 48 2 7.7 -0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 5.0 40 10 7.5 -0.3
INEQ Columbia International Equity Income ETF 4.8 45 5 8.7 +0.9
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 4.8 79 -29 5.9 -2.0
IEV iShares Europe ETF 4.7 67 -17 6.9 -0.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 4.6 25 25 7.2 -0.6
EUDV ProShares MSCI Europe Dividend Growers ETF 4.6 55 -5 6.9 -1.0
VWID Virtus WMC International Dividend ETF 4.6 49 1 8.8 +1.0
SRVR Pacer Data & Infrastructure Real Estate ETF 4.6 55 -5 1.1 -6.7
EUDG WisdomTree Europe Quality Dividend Growth Fund 4.5 58 -8 6.5 -1.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 4.5 46 4 6.8 -1.1
BBEU JPMorgan BetaBuilders Europe ETF 4.4 9 41 7.2 -0.6
EFAV iShares MSCI EAFE Min Vol Factor ETF 4.4 22 28 5.8 -2.0
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.4 58 -8 7.1 -0.8
IQDG WisdomTree International Quality Dividend Growth Fund 4.3 42 8 7.2 -0.7
BKCI BNY Mellon Concentrated International ETF 4.3 80 -30 4.9 -2.9
SUPL ProShares Supply Chain Logistics ETF 4.3 58 -8 5.4 -2.5
AWAY ETFMG Travel Tech ETF 4.3 76 -26 0.0 -7.8
FLEE Franklin FTSE Europe ETF 4.3 9 41 7.0 -0.8
FENI Fidelity Enhanced International ETF 4.2 28 22 7.0 -0.8
EFV iShares MSCI EAFE Value ETF 4.2 34 16 9.4 +1.6
FEP First Trust Europe AlphaDEX Fund 4.2 80 -30 9.3 +1.5
IVLU iShares MSCI Intl Value Factor ETF 4.1 30 20 11.1 +3.3
IEUR iShares Core MSCI Europe ETF 4.1 11 39 7.4 -0.4
WTRE WisdomTree New Economy Real Estate Fund 4.1 58 -8 9.6 +1.8
VGK Vanguard FTSE Europe ETF 4.0 11 39 7.5 -0.3
FAN First Trust Global Wind Energy ETF 4.0 60 -10 5.3 -2.6
TEMP JPMorgan Climate Change Solutions ETF 4.0 49 1 5.9 -2.0
SPEU SPDR Portfolio Europe ETF 3.9 7 43 7.5 -0.4
DWMF WisdomTree International Multifactor Fund 3.9 38 12 6.9 -0.9
IQRA IQ CBRE Real Assets ETF 3.9 65 -15 2.7 -5.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.9 47 3 5.7 -2.2
RFEU First Trust Riverfront Dynamic Europe ETF 3.8 83 -33 10.0 +2.2
IDLV Invesco S&P International Developed Low Volatility ETF 3.8 25 25 6.3 -1.5
JHID John Hancock International High Dividend ETF 3.7 46 4 10.3 +2.5
CGDG Capital Group Dividend Growers ETF 3.7 47 3 6.3 -1.5
CGIE Capital Group International Equity ETF 3.7 54 -4 5.1 -2.7
IMTM iShares MSCI Intl Momentum Factor ETF 3.6 30 20 5.6 -2.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.6 42 8 6.8 -1.1
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 3.6 9 41 9.2 +1.4
NUDM Nuveen ESG International Developed Markets Equity ETF 3.6 31 19 6.6 -1.2
HAP VanEck Natural Resources ETF 3.5 50 0 10.0 +2.2
TPIF Timothy Plan International ETF 3.5 62 -12 6.5 -1.3
OCEN IQ Clean Oceans ETF 3.5 45 5 5.7 -2.1
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.4 65 -15 4.1 -3.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.4 45 5 9.3 +1.5
JHMD John Hancock Multifactor Developed International ETF 3.4 39 11 7.8 -0.0
NLR VanEck Uranium+Nuclear Energy ETF 3.4 61 -11 3.4 -4.5
QINT American Century Quality Diversified International ETF 3.4 39 11 7.6 -0.2
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.3 30 20 7.3 -0.6
JIRE JPMorgan International Research Enhanced Equity ETF 3.3 24 26 7.4 -0.4
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 3.3 32 18 6.1 -1.7
CLNR IQ Cleaner Transport ETF 3.3 45 5 7.3 -0.6
CGXU Capital Group International Focus Equity ETF 3.2 54 -4 5.9 -2.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 3.2 20 30 6.6 -1.2
VYMI Vanguard International High Dividend Yield ETF 3.2 22 28 10.0 +2.2
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.2 35 15 5.9 -2.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 3.1 12 38 6.2 -1.7
FNDF Schwab Fundamental International Large Co. Index ETF 3.1 25 25 10.1 +2.3
ESGD iShares ESG Aware MSCI EAFE ETF 3.1 20 30 7.1 -0.7
EFA iShares MSCI EAFE ETF 3.0 35 15 7.0 -0.8
IGRO iShares International Dividend Growth ETF 3.0 15 35 7.3 -0.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.0 25 25 7.5 -0.3
CIL VictoryShares International Volatility Wtd ETF 3.0 45 5 7.0 -0.9
FDD First Trust Stoxx European Select Dividend Index Fund 3.0 58 -8 12.4 +4.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.0 36 14 6.9 -0.9
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 2.9 20 30 6.7 -1.1
HFXI IQ FTSE International Equity Currency Neutral ETF 2.9 20 30 7.4 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 2.8 20 30 7.1 -0.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.8 65 -15 12.2 +4.4
STXI Strive International Developed Markets ETF 2.8 29 21 5.9 -1.9
INTF iShares International Equity Factor ETF 2.8 15 35 8.1 +0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.7 39 11 7.0 -0.9
IDAT iShares Future Cloud 5G and Tech ETF 2.7 47 3 4.8 -3.1
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.7 65 -15 8.6 +0.7
DEW WisdomTree Global High Dividend Fund 2.6 58 -8 7.7 -0.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.6 50 0 5.8 -2.0
IEFA iShares Core MSCI EAFE ETF 2.6 7 43 7.4 -0.5
JIG JPMorgan International Growth ETF 2.6 55 -5 4.8 -3.0
BKIE BNY Mellon International Equity ETF 2.5 4 46 7.3 -0.5
DWX SPDR S&P International Dividend ETF 2.5 45 5 6.6 -1.3
DFSI Dimensional International Sustainability Core 1 ETF 2.5 24 26 6.6 -1.2
URAN Themes Uranium & Nuclear ETF 2.5 35 15 2.7 -5.2
AZTD Aztlan Global Stock Selection DM SMID ETF 2.4 75 -25 8.4 +0.6
FDCF Fidelity Disruptive Communications ETF 2.4 50 0 3.3 -4.5
DGT SPDR Global Dow ETF 2.4 50 0 7.5 -0.4
SCHF Schwab International Equity ETF 2.3 6 44 7.7 -0.1
IDMO Invesco S&P International Developed Momentum ETF 2.3 25 25 5.7 -2.1
IDEV iShares Core MSCI International Developed Markets ETF 2.3 4 46 7.4 -0.5
DIHP Dimensional International High Profitability ETF 2.3 29 21 7.4 -0.4
IQLT iShares MSCI Intl Quality Factor ETF 2.3 30 20 6.3 -1.5
DIM WisdomTree International MidCap Dividend Fund 2.3 58 -8 7.7 -0.1
FRNW Fidelity Clean Energy ETF 2.3 39 11 4.2 -3.6
IQSI IQ Candriam International Equity ETF 2.3 15 35 6.7 -1.2
FIVA Fidelity International Value Factor ETF 2.3 18 32 10.5 +2.7
FYLD Cambria Foreign Shareholder Yield ETF 2.2 59 -9 12.5 +4.7
VEA Vanguard FTSE Developed Markets ETF 2.2 5 45 7.6 -0.3
SPDW SPDR Portfolio Developed World ex-US ETF 2.2 3 47 7.5 -0.3
AGQI First Trust Active Global Quality Income ETF 2.2 85 -35 6.6 -1.2
IDHQ Invesco S&P International Developed High Quality ETF 2.2 29 21 6.7 -1.2
IMOM Alpha Architect International Quantitative Momentum ETF 2.2 49 1 4.8 -3.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.1 14 36 6.0 -1.8
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.1 80 -30 10.0 +2.2
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.1 58 -8 5.5 -2.3
PPIE Putnam PanAgora ESG International Equity ETF 2.1 49 1 7.8 -0.0
DFIV Dimensional International Value ETF 2.1 27 23 10.4 +2.6
CWI SPDR MSCI ACWI ex-US ETF 2.0 30 20 8.2 +0.4
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.0 80 -30 4.9 -2.9
TTAI FCF International Quality ETF 2.0 59 -9 6.9 -0.9
IDOG ALPS International Sector Dividend Dogs ETF 2.0 50 0 12.2 +4.4
AVIV Avantis International Large Cap Value ETF 2.0 25 25 9.3 +1.5
JPIN J.P. Morgan Diversified Return International Equity ETF 2.0 37 13 8.9 +1.1
VOLT Tema Electrification ETF 2.0 75 -25 3.3 -4.6
WWJD Inspire International ETF 2.0 80 -30 7.6 -0.3
RFDI First Trust Riverfront Dynamic Developed International ETF 2.0 83 -33 10.0 +2.2
JETS U.S. Global Jets ETF 2.0 60 -10 4.2 -3.7
DIVI Franklin International Core Dividend Tilt Index ETF 2.0 9 41 8.2 +0.4
IXG iShares Global Financials ETF 1.9 42 8 7.2 -0.6
ACWX iShares MSCI ACWI ex U.S. ETF 1.9 34 16 8.1 +0.3
DFAI Dimensional International Core Equity Market ETF 1.9 18 32 7.6 -0.3
DMXF iShares ESG Advanced MSCI EAFE ETF 1.9 12 38 5.8 -2.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.9 41 9 7.1 -0.7
COPY Tweedy, Browne Insider + Value ETF 1.8 80 -30 12.6 +4.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.8 39 11 8.3 +0.5
VEU Vanguard FTSE All-World ex-US Index Fund 1.8 8 42 8.5 +0.6
FIDI Fidelity International High Dividend ETF 1.8 18 32 9.0 +1.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.8 18 32 8.1 +0.3
EFG iShares MSCI EAFE Growth ETF 1.8 36 14 4.5 -3.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.7 47 3 9.0 +1.1
JSTC Adasina Social Justice All Cap Global ETF 1.7 89 -39 4.5 -3.3
IXUS iShares Core MSCI Total International Stock ETF 1.6 7 43 8.3 +0.5
VXUS Vanguard Total International Stock ETF 1.6 7 43 8.3 +0.5
DFIC Dimensional International Core Equity 2 ETF 1.6 23 27 7.9 +0.1
RXI iShares Global Consumer Discretionary ETF 1.6 41 9 9.2 +1.4
VSGX Vanguard ESG International Stock ETF 1.6 12 38 8.2 +0.3
TMFG Motley Fool Global Opportunities ETF 1.5 85 -35 3.5 -4.3
AIVI WisdomTree International AI Enhanced Value Fund 1.4 58 -8 7.5 -0.3
AVDE Avantis International Equity ETF 1.4 23 27 8.0 +0.1
ESGG FlexShares STOXX Global ESG Select Index Fund 1.4 42 8 5.4 -2.4
FDEV Fidelity International Multifactor ETF 1.4 18 32 7.7 -0.1
QWLD SPDR MSCI World StrategicFactors ETF 1.3 30 20 5.9 -1.9
GCOW Pacer Global Cash Cows Dividend ETF 1.3 60 -10 10.9 +3.1
VIDI Vident International Equity Strategy ETF 1.3 61 -11 12.0 +4.2
AVSD Avantis Responsible International Equity ETF 1.3 23 27 6.8 -1.0
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.3 75 -25 3.5 -4.3
IPKW Invesco International BuyBack Achievers ETF 1.3 55 -5 15.3 +7.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.2 30 20 8.6 +0.8
ISCF iShares International SmallCap Equity Factor ETF 1.2 23 27 8.6 +0.8
IMFL Invesco International Developed Dynamic Multifactor ETF 1.1 34 16 6.2 -1.6
NXTG First Trust Indxx NextG ETF 1.1 70 -20 5.8 -2.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.1 24 26 6.4 -1.4
PBD Invesco Global Clean Energy ETF 1.1 75 -25 0.4 -7.4
UMMA Wahed Dow Jones Islamic World ETF 1.1 65 -15 5.3 -2.6
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 3 9.5 +1.7
XT iShares Exponential Technologies ETF 1.1 46 4 5.5 -2.3
IXP iShares Global Comm Services ETF 1.1 42 8 6.7 -1.1
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 40 6.1 -1.8
KOCG FIS Knights of Columbus Global Belief ETF 1.1 75 -25 5.4 -2.5
BLES Inspire Global Hope ETF 1.0 61 -11 6.8 -1.0
CGGO Capital Group Global Growth Equity ETF 1.0 47 3 5.0 -2.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.0 12 38 5.1 -2.7
WLDR Affinity World Leaders Equity ETF 1.0 67 -17 8.3 +0.5
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.9 25 25 6.0 -1.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.8 20 30 6.0 -1.8
TOK iShares MSCI Kokusai ETF 0.8 26 24 5.2 -2.7
KOKU Xtrackers MSCI Kokusai Equity ETF 0.8 9 41 5.5 -2.4
GLOF iShares Global Equity Factor ETF 0.8 20 30 6.8 -1.0
URTH iShares MSCI World ETF 0.8 24 26 5.5 -2.3
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 0.8 58 -8 9.0 +1.1
KNCT Invesco Next Gen Connectivity ETF 0.8 40 10 5.1 -2.8
IOO iShares Global 100 ETF 0.7 41 9 5.4 -2.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 41 6.1 -1.8
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.7 70 -20 4.5 -3.3
ACWI iShares MSCI ACWI ETF 0.7 32 18 6.0 -1.9
OGIG ALPS O'Shares Global Internet Giants ETF 0.7 48 2 1.9 -5.9
EXI iShares Global Industrials ETF 0.7 42 8 4.9 -3.0
VT Vanguard Total World Stock ETF 0.6 7 43 6.3 -1.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.6 33 17 10.6 +2.8
SCHY Schwab International Dividend Equity ETF 0.6 14 36 9.8 +2.0
FILL iShares MSCI Global Energy Producers ETF 0.6 39 11 11.4 +3.6
IXC iShares Global Energy ETF 0.6 44 6 9.8 +2.0
DFIS Dimensional International Small Cap ETF 0.5 39 11 7.9 +0.0
CGGR Capital Group Growth ETF 0.4 39 11 3.7 -4.2
LVHI Franklin International Low Volatility High Dividend Index ET 0.4 40 10 11.0 +3.2
GNR SPDR S&P Global Natural Resources ETF 0.4 40 10 11.4 +3.6
GLBL Pacer MSCI World Industry Advantage ETF 0.3 65 -15 5.0 -2.9
DISV Dimensional International Small Cap Value ETF 0.3 42 8 9.7 +1.8
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.3 46 4 10.4 +2.6
DTAN Sparkline International Intangible Value ETF 0.3 55 -5 7.2 -0.6
RODE Hartford Multifactor Diversified International ETF 0.2 29 21 9.9 +2.1
IBUY Amplify Online Retail ETF 0.2 65 -15 3.7 -4.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.2 29 21 8.2 +0.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 29 4.3 -3.6
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 30 5.9 -2.0
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 11 6.3 -1.5
CCNR ALPS CoreCommodity Natural Resources ETF 0.1 39 11 11.0 +3.2
IXJ iShares Global Healthcare ETF 0.0 42 8 6.6 -1.2
CZAR Themes Natural Monopoly ETF 0.0 35 15 2.8 -5.0

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

  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

Content on this tab for subscribers only

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 11.0 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 7.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.64 CATEGORY
AVERAGE		 1.60
 
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.