iShares MSCI Spain ETF
ALTAR
Score™		 6.6% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 13.5x P/Sales
ratio		 1.4x
P/BV
ratio		 1.7x 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) $1,668
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 18.3 %
IBERDROLA SA 13.8 %
BANCO BILBAO VIZCAYA ARGENTA 13.3 %
INDITEX 5.0 %
CRITERIA CAIXACORP SA 4.6 %
GRUPO FERROVIAL 4.6 %
AMADEUS IT HOLDING SA-A SHS 4.1 %
REPSOL YPF SA 4.1 %
BANCO DE SABADELL SA 3.9 %
ACS ACTIVIDADES CONS Y SERV 3.8 %
Total 75.6 %

TOP COUNTRY EXPOSURE
SPAIN 94.6 %
BRITAIN 1.8 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
66.4% 57.8% 16.9% 8.6% 8.4%

Market Correlations
versus... Beta R-squared
S&P500 0.61 34%
MSCI EAFE 1.03 69%
MSCI Emg. Mkts. 0.75 40%

Technical Indicators
Recent close $53.21
30d moving avg. $51.34
Annualized volatility 18.1%
Short interest (ETF) 5.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 757
Turnover 2.4%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $547

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 233 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™: 6.6%


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 20.4 58 -8 6.4 -0.1
EUFN iShares MSCI Europe Financials ETF 11.8 51 -1 7.5 +0.9
EZU iShares MSCI Eurozone ETF 10.6 52 -2 6.4 -0.1
VCLN Virtus Duff & Phelps Clean Energy ETF 10.4 59 -9 4.3 -2.3
FEZ SPDR EURO STOXX 50 ETF 10.2 29 21 6.3 -0.2
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 9.9 45 5 6.7 +0.2
BLLD JPMorgan Sustainable Infrastructure ETF 9.6 49 1 5.9 -0.6
DTH WisdomTree International High Dividend Fund 9.2 58 -8 7.9 +1.3
ITOL Tema International Durable Quality ETF 9.1 60 -10 5.7 -0.9
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 8.6 75 -25 7.2 +0.7
FEUZ First Trust Eurozone AlphaDEX ETF 8.3 80 -30 7.4 +0.8
SMOG VanEck Low Carbon Energy ETF 8.1 61 -11 1.6 -5.0
EFAS Global X MSCI SuperDividend EAFE ETF 8.1 57 -7 8.2 +1.7
DOL WisdomTree International LargeCap Dividend Fund 7.8 48 2 6.7 +0.1
IMTM iShares MSCI Intl Momentum Factor ETF 7.7 30 20 5.3 -1.2
JXI iShares Global Utilities ETF 7.4 43 7 5.8 -0.8
IMOM Alpha Architect International Quantitative Momentum ETF 7.3 49 1 4.6 -2.0
IDMO Invesco S&P International Developed Momentum ETF 7.2 25 25 5.6 -0.9
IDV iShares International Select Dividend ETF 6.9 51 -1 10.3 +3.8
FGD First Trust Dow Jones Global Select Dividend Index Fund 6.9 56 -6 10.8 +4.2
IPAV Global X Infrastructure Development ex-U.S. ETF 6.8 55 -5 6.5 -0.0
GSFP Goldman Sachs Future Planet Equity ETF 6.7 75 -25 4.4 -2.2
ICLN iShares Global Clean Energy ETF 6.4 41 9 3.3 -3.3
DWM WisdomTree International Equity Fund 6.3 48 2 6.9 +0.3
FICS First Trust International Developed Capital Strength ETF 6.2 70 -20 7.2 +0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 6.2 40 10 7.0 +0.4
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 6.0 79 -29 5.1 -1.4
UIVM VictoryShares International Value Momentum ETF 5.9 35 15 8.3 +1.8
IEV iShares Europe ETF 5.7 67 -17 6.5 -0.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 5.6 25 25 7.0 +0.5
EFV iShares MSCI EAFE Value ETF 5.5 34 16 8.5 +2.0
FEP First Trust Europe AlphaDEX Fund 5.5 80 -30 7.8 +1.2
VWID Virtus WMC International Dividend ETF 5.4 49 1 7.8 +1.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 5.3 46 4 6.5 -0.1
FLEE Franklin FTSE Europe ETF 5.3 9 41 6.9 +0.3
BBEU JPMorgan BetaBuilders Europe ETF 5.3 9 41 6.9 +0.3
INEQ Columbia International Equity Income ETF 5.2 45 5 8.1 +1.5
VGK Vanguard FTSE Europe ETF 5.2 6 44 7.1 +0.6
IEUR iShares Core MSCI Europe ETF 5.2 11 39 7.1 +0.5
TEMP JPMorgan Climate Change Solutions ETF 5.0 49 1 5.8 -0.8
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 4.9 58 -8 8.3 +1.8
EUDV ProShares MSCI Europe Dividend Growers ETF 4.9 55 -5 6.1 -0.4
SPEU SPDR Portfolio Europe ETF 4.9 7 43 7.0 +0.5
JHID John Hancock International High Dividend ETF 4.9 46 4 9.1 +2.5
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.7 58 -8 6.8 +0.2
IQDG WisdomTree International Quality Dividend Growth Fund 4.7 42 8 6.8 +0.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 4.7 58 -8 6.6 0.0
FENI Fidelity Enhanced International ETF 4.6 28 22 6.1 -0.5
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.6 9 41 8.8 +2.3
OCEN IQ Clean Oceans ETF 4.5 45 5 5.3 -1.2
RFEU First Trust Riverfront Dynamic Europe ETF 4.5 83 -33 10.0 +3.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 4.5 42 8 6.6 +0.1
ICPY Tweedy, Browne International Insider Value ETF 4.4 80 -30 11.2 +4.6
OEFA ALPS O’Shares International Developed Quality Dividend ETF 4.4 48 2 5.3 -1.2
DIM WisdomTree International MidCap Dividend Fund 4.4 58 -8 7.1 +0.5
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 4.3 46 4 5.7 -0.8
JIRE JPMorgan International Research Enhanced Equity ETF 4.3 24 26 7.0 +0.4
CLNR IQ Cleaner Transport ETF 4.2 45 5 5.2 -1.4
DWMF WisdomTree International Multifactor Fund 4.2 38 12 6.9 +0.4
BKCI BNY Mellon Concentrated International ETF 4.1 80 -30 5.1 -1.5
SUPL ProShares Supply Chain Logistics ETF 4.1 58 -8 10.0 +3.5
ESGD iShares ESG Aware MSCI EAFE ETF 4.1 20 30 6.4 -0.2
NUDM Nuveen ESG International Developed Markets Equity ETF 4.1 31 19 6.3 -0.2
FAN First Trust Global Wind Energy ETF 4.1 60 -10 4.2 -2.3
CGXU Capital Group International Focus Equity ETF 4.0 54 -4 5.4 -1.1
IVLU iShares MSCI Intl Value Factor ETF 4.0 30 20 9.6 +3.1
VYMI Vanguard International High Dividend Yield ETF 4.0 17 33 8.9 +2.4
CGDG Capital Group Dividend Growers ETF 4.0 47 3 6.0 -0.6
JHMD John Hancock Multifactor Developed International ETF 4.0 39 11 7.1 +0.5
IGF iShares Global Infrastructure ETF 3.9 41 9 4.7 -1.8
EFAV iShares MSCI EAFE Min Vol Factor ETF 3.9 22 28 5.9 -0.7
GII SPDR S&P Global Infrastructure ETF 3.9 40 10 4.7 -1.8
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 3.9 20 30 6.0 -0.5
AWAY ETFMG Travel Tech ETF 3.9 76 -26 -0.1 -6.7
TPIF Timothy Plan International ETF 3.8 62 -12 6.0 -0.6
HAP VanEck Natural Resources ETF 3.8 50 0 8.8 +2.2
QINT American Century Quality Diversified International ETF 3.8 39 11 6.8 +0.3
EFA iShares MSCI EAFE ETF 3.8 35 15 6.4 -0.1
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.7 35 15 6.2 -0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.7 39 11 6.4 -0.2
AGQI First Trust Active Global Quality Income ETF 3.7 85 -35 5.2 -1.4
IQRA IQ CBRE Real Assets ETF 3.7 65 -15 5.7 -0.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.6 25 25 6.8 +0.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.6 47 3 5.9 -0.7
CGIE Capital Group International Equity ETF 3.6 54 -4 4.9 -1.7
STXI Strive International Developed Markets ETF 3.6 29 21 6.3 -0.2
DEW WisdomTree Global High Dividend Fund 3.6 58 -8 8.1 +1.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.5 36 14 6.3 -0.3
HFXI IQ FTSE International Equity Currency Neutral ETF 3.5 20 30 6.5 -0.0
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 3.4 20 30 6.1 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 3.4 20 30 6.4 -0.1
CIL VictoryShares International Volatility Wtd ETF 3.3 45 5 6.3 -0.2
COPY Tweedy, Browne Insider + Value ETF 3.3 80 -30 11.5 +4.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.2 30 20 6.6 +0.1
IEFA iShares Core MSCI EAFE ETF 3.2 7 43 6.8 +0.2
FNDF Schwab Fundamental International Large Co. Index ETF 3.2 25 25 9.1 +2.6
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 3.1 32 18 5.8 -0.7
INTF iShares International Equity Factor ETF 3.1 15 35 7.3 +0.8
FIVA Fidelity International Value Factor ETF 3.1 18 32 8.9 +2.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.0 45 5 8.3 +1.7
BKIE BNY Mellon International Equity ETF 3.0 4 46 6.6 +0.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 3.0 80 -30 5.9 -0.7
TOLL Tema Durable Quality ETF 3.0 75 -25 5.1 -1.4
IQLT iShares MSCI Intl Quality Factor ETF 3.0 30 20 6.1 -0.4
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 3.0 12 38 5.8 -0.8
IGRO iShares International Dividend Growth ETF 2.9 15 35 6.9 +0.4
SCHF Schwab International Equity ETF 2.9 6 44 6.9 +0.4
JIVE JPMorgan International Value ETF 2.9 55 -5 10.9 +4.3
IDEV iShares Core MSCI International Developed Markets ETF 2.8 4 46 6.7 +0.2
JIG JPMorgan International Growth ETF 2.8 55 -5 4.9 -1.7
WTRE WisdomTree New Economy Real Estate Fund 2.8 58 -8 7.5 +1.0
SRVR Pacer Data & Infrastructure Real Estate ETF 2.8 55 -5 4.9 -1.7
IQSI IQ Candriam International Equity ETF 2.8 15 35 6.2 -0.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.7 70 -20 3.8 -2.7
FDD First Trust Stoxx European Select Dividend Index Fund 2.7 58 -8 10.8 +4.2
VEA Vanguard FTSE Developed Markets ETF 2.7 3 47 6.7 +0.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.7 50 0 5.9 -0.7
JPIN J.P. Morgan Diversified Return International Equity ETF 2.7 37 13 7.7 +1.2
DIHP Dimensional International High Profitability ETF 2.6 29 21 6.6 +0.0
SPDW SPDR Portfolio Developed World ex-US ETF 2.6 3 47 6.6 +0.1
RFDI First Trust Riverfront Dynamic Developed International ETF 2.6 83 -33 8.9 +2.4
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.6 80 -30 4.2 -2.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.6 14 36 5.9 -0.7
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.5 65 -15 10.7 +4.1
IXG iShares Global Financials ETF 2.5 42 8 6.4 -0.1
FDCF Fidelity Disruptive Communications ETF 2.5 50 0 4.0 -2.6
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.5 65 -15 8.0 +1.4
DFSI Dimensional International Sustainability Core 1 ETF 2.5 24 26 6.1 -0.4
DFIV Dimensional International Value ETF 2.5 27 23 8.8 +2.3
DIVI Franklin International Core Dividend Tilt Index ETF 2.5 9 41 7.5 +0.9
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 25 6.4 -0.1
CWI SPDR MSCI ACWI ex-US ETF 2.4 30 20 7.4 +0.8
WWJD Inspire International ETF 2.4 80 -30 7.2 +0.6
POW VistaShares Electrification Supercycle ETF 2.4 75 -25 3.6 -3.0
IDHQ Invesco S&P International Developed High Quality ETF 2.4 29 21 6.3 -0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.4 39 11 7.4 +0.9
ACWX iShares MSCI ACWI ex U.S. ETF 2.3 34 16 7.4 +0.8
AVIV Avantis International Large Cap Value ETF 2.2 25 25 8.3 +1.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.2 41 9 7.2 +0.6
DFAI Dimensional International Core Equity Market ETF 2.2 18 32 6.7 +0.2
NUKZ Range Nuclear Renaissance Index ETF 2.2 85 -35 1.3 -5.3
VEU Vanguard FTSE All-World ex-US Index Fund 2.1 4 46 7.6 +1.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.1 18 32 7.3 +0.7
TTAI FCF International Quality ETF 2.0 59 -9 7.4 +0.9
IDOG ALPS International Sector Dividend Dogs ETF 2.0 50 0 11.4 +4.9
PPIE Putnam PanAgora ESG International Equity ETF 2.0 49 1 7.1 +0.6
VXUS Vanguard Total International Stock ETF 2.0 5 45 7.6 +1.0
FRNW Fidelity Clean Energy ETF 2.0 39 11 2.4 -4.2
DGT State Street SPDR Global Dow ETF 2.0 50 0 6.6 0.0
RCGE RockCreek Global Equality ETF 2.0 95 -45 6.5 -0.0
IXUS iShares Core MSCI Total International Stock ETF 2.0 7 43 7.6 +1.1
EFG iShares MSCI EAFE Growth ETF 1.9 36 14 4.2 -2.3
AIVI WisdomTree International AI Enhanced Value Fund 1.9 58 -8 6.6 +0.0
VSGX Vanguard ESG International Stock ETF 1.9 10 40 7.5 +0.9
DMXF iShares ESG Advanced MSCI EAFE ETF 1.8 12 38 5.5 -1.0
DFIC Dimensional International Core Equity 2 ETF 1.8 23 27 7.1 +0.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 3 7.7 +1.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.7 80 -30 8.5 +2.0
GCOW Pacer Global Cash Cows Dividend ETF 1.7 60 -10 10.4 +3.8
CZAR Themes Natural Monopoly ETF 1.7 35 15 5.7 -0.9
ESGG FlexShares STOXX Global ESG Select Index Fund 1.7 42 8 5.3 -1.3
AVDE Avantis International Equity ETF 1.7 23 27 7.1 +0.5
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 1.7 58 -8 4.5 -2.1
RXI iShares Global Consumer Discretionary ETF 1.6 41 9 8.3 +1.7
FIDI Fidelity International High Dividend ETF 1.6 18 32 7.9 +1.3
KOCG FIS Knights of Columbus Global Belief ETF 1.6 75 -25 4.9 -1.6
DXIV Dimensional International Vector Equity ETF 1.6 34 16 7.4 +0.8
AKAF The Frontier Economic Fund 1.5 20 30 6.4 -0.1
SCHY Schwab International Dividend Equity ETF 1.5 14 36 9.6 +3.1
AVSD Avantis Responsible International Equity ETF 1.5 23 27 5.1 -1.4
IMFL Invesco International Developed Dynamic Multifactor ETF 1.5 34 16 5.7 -0.8
FDEV Fidelity International Multifactor ETF 1.5 18 32 7.2 +0.7
ISCF iShares International SmallCap Equity Factor ETF 1.4 23 27 8.2 +1.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.4 30 20 7.5 +0.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.4 75 -25 3.1 -3.5
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.4 24 26 7.0 +0.5
CGGO Capital Group Global Growth Equity ETF 1.3 47 3 4.5 -2.1
WLDR Affinity World Leaders Equity ETF 1.3 67 -17 7.7 +1.1
VIDI Vident International Equity Strategy ETF 1.3 61 -11 10.5 +3.9
VOLT Tema Electrification ETF 1.3 75 -25 3.7 -2.8
BLES Inspire Global Hope ETF 1.3 61 -11 6.9 +0.3
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.2 65 -15 4.6 -2.0
URAN Themes Uranium & Nuclear ETF 1.2 35 15 1.5 -5.1
TMFG Motley Fool Global Opportunities ETF 1.2 85 -35 4.1 -2.5
UMMA Wahed Dow Jones Islamic World ETF 1.2 65 -15 4.8 -1.7
FYLD Cambria Foreign Shareholder Yield ETF 1.2 59 -9 11.3 +4.8
XT iShares Exponential Technologies ETF 1.1 46 4 4.9 -1.6
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 40 5.6 -0.9
DWX SPDR S&P International Dividend ETF 1.1 45 5 7.1 +0.6
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 1.0 25 25 6.0 -0.5
JETS U.S. Global Jets ETF 1.0 60 -10 2.6 -4.0
JSTC Adasina Social Justice All Cap Global ETF 1.0 89 -39 4.8 -1.7
QWLD SPDR MSCI World StrategicFactors ETF 1.0 30 20 5.7 -0.8
IQDF FlexShares International Quality Dividend Index Fund 1.0 47 3 8.3 +1.8
TOK iShares MSCI Kokusai ETF 1.0 26 24 5.0 -1.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.9 9 41 5.1 -1.4
URTH iShares MSCI World ETF 0.9 24 26 5.0 -1.5
GEW Cambria Global EW ETF 0.9 29 21 5.9 -0.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.9 12 38 5.0 -1.6
DISV Dimensional International Small Cap Value ETF 0.9 42 8 8.8 +2.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.9 9 41 5.6 -1.0
GLOF iShares Global Equity Factor ETF 0.9 20 30 6.8 +0.2
IOO iShares Global 100 ETF 0.8 41 9 4.7 -1.9
AVDV Avantis International Small Cap Value ETF 0.8 36 14 8.7 +2.2
ACWI iShares MSCI ACWI ETF 0.8 32 18 5.4 -1.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.8 33 17 9.8 +3.3
JADE JPMorgan Active Developing Markets Equity ETF 0.8 65 -15 8.0 +1.5
PBD Invesco Global Clean Energy ETF 0.8 75 -25 0.8 -5.8
NXTG First Trust Indxx NextG ETF 0.8 70 -20 5.0 -1.5
IXC iShares Global Energy ETF 0.8 44 6 10.5 +4.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.8 20 30 5.5 -1.1
VT Vanguard Total World Stock ETF 0.7 6 44 5.8 -0.8
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -10 4.0 -2.5
IXP iShares Global Comm Services ETF 0.7 42 8 6.0 -0.6
EXI iShares Global Industrials ETF 0.6 42 8 4.4 -2.2
KNCT Invesco Next Gen Connectivity ETF 0.6 40 10 4.8 -1.8
DFIS Dimensional International Small Cap ETF 0.6 39 11 7.0 +0.4
LVHI Franklin International Low Volatility High Dividend Index ET 0.5 40 10 10.1 +3.5
CCNR ALPS CoreCommodity Natural Resources ETF 0.5 39 11 8.7 +2.1
FNDC Schwab Fundamental International Small Co. Index ETF 0.5 39 11 5.8 -0.7
DTAN Sparkline International Intangible Value ETF 0.5 55 -5 8.1 +1.5
GNR SPDR S&P Global Natural Resources ETF 0.5 40 10 10.4 +3.8
CGGR Capital Group Growth ETF 0.4 39 11 3.5 -3.1
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 4 9.5 +2.9
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -15 4.2 -2.4
AVDS Avantis International Small Cap Equity ETF 0.4 30 20 6.7 +0.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.3 49 1 6.7 +0.2
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -5 8.6 +2.1
RODE Hartford Multifactor Diversified International ETF 0.2 29 21 10.4 +3.8
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.2 29 21 7.3 +0.8
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 29 3.8 -2.7
IBUY Amplify Online Retail ETF 0.1 65 -15 1.7 -4.9
IXJ iShares Global Healthcare ETF 0.0 42 8 6.7 +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 1.6 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 6.6 %
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.