iShares MSCI Spain ETF
ALTAR
Score™		 7.1% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 12.7x P/Sales
ratio		 1.3x
P/BV
ratio		 1.5x Div.
yield		 3.6%


  • 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) $1,369
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) $69,052
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 18.6 %
IBERDROLA SA 15.0 %
BANCO BILBAO VIZCAYA ARGENTA 13.6 %
CRITERIA CAIXACORP SA 4.7 %
BANCO DE SABADELL SA 4.5 %
AENA SME SA 4.2 %
TELEFONICA SA 4.2 %
GRUPO FERROVIAL 4.1 %
AMADEUS IT HOLDING SA-A SHS 4.1 %
REPSOL YPF SA 4.0 %
Total 77.1 %

TOP COUNTRY EXPOSURE
SPAIN 94.3 %
BRITAIN 1.6 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
44.0% 37.9% 17.4% 5.8% 7.9%

Market Correlations
versus... Beta R-squared
S&P500 0.79 36%
MSCI EAFE 1.00 64%
MSCI Emg. Mkts. 0.75 38%

Technical Indicators
Recent close $48.02
30d moving avg. $46.08
Annualized volatility 20.2%
Short interest (ETF) 0.4%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 399
Turnover 1.4%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $547

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 230 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™: 7.1%


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 -0.5
EUFN iShares MSCI Europe Financials ETF 10.6 51 -1 7.9 +0.8
EZU iShares MSCI Eurozone ETF 9.8 52 -2 6.8 -0.4
FEZ SPDR EURO STOXX 50 ETF 9.3 29 21 7.2 +0.1
VCLN Virtus Duff & Phelps Clean Energy ETF 9.3 59 -9 5.0 -2.1
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 8.8 75 -25 7.8 +0.7
FEUZ First Trust Eurozone AlphaDEX ETF 8.5 80 -30 9.1 +2.0
EFAS Global X MSCI SuperDividend EAFE ETF 8.3 57 -7 8.3 +1.2
BLLD JPMorgan Sustainable Infrastructure ETF 8.2 49 1 6.1 -1.0
SMOG VanEck Low Carbon Energy ETF 8.0 61 -11 1.8 -5.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 7.9 45 5 6.9 -0.2
IPAV Global X Infrastructure Development ex-U.S. ETF 6.7 55 -5 7.7 +0.6
DTH WisdomTree International High Dividend Fund 6.6 58 -8 8.4 +1.3
FEP First Trust Europe AlphaDEX Fund 6.6 80 -30 9.1 +2.0
IDV iShares International Select Dividend ETF 6.5 51 -1 10.6 +3.5
JXI iShares Global Utilities ETF 6.4 43 7 5.9 -1.3
DOL WisdomTree International LargeCap Dividend Fund 6.1 48 2 7.2 +0.1
ICLN iShares Global Clean Energy ETF 6.0 41 9 5.2 -2.0
OEUR ALPS O'Shares Europe Quality Dividend ETF 5.5 48 2 6.1 -1.1
IMTM iShares MSCI Intl Momentum Factor ETF 5.5 30 20 5.5 -1.6
IEV iShares Europe ETF 5.3 67 -17 6.9 -0.2
GSFP Goldman Sachs Future Planet Equity ETF 5.3 75 -25 4.8 -2.3
FGD First Trust Dow Jones Global Select Dividend Index Fund 5.3 56 -6 10.7 +3.6
DWM WisdomTree International Equity Fund 4.9 48 2 7.4 +0.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 4.8 40 10 7.4 +0.3
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 4.8 79 -29 4.9 -2.2
IEUR iShares Core MSCI Europe ETF 4.7 11 39 7.4 +0.3
UIVM VictoryShares International Value Momentum ETF 4.7 35 15 8.9 +1.8
VGK Vanguard FTSE Europe ETF 4.7 6 44 7.5 +0.4
EUDV ProShares MSCI Europe Dividend Growers ETF 4.6 55 -5 6.2 -0.9
EFV iShares MSCI EAFE Value ETF 4.5 34 16 9.1 +1.9
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.5 58 -8 7.1 -0.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 4.5 25 25 7.3 +0.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 4.5 58 -8 6.9 -0.2
IQDG WisdomTree International Quality Dividend Growth Fund 4.5 42 8 7.3 +0.2
RFEU First Trust Riverfront Dynamic Europe ETF 4.5 83 -33 10.6 +3.5
SPEU SPDR Portfolio Europe ETF 4.4 7 43 7.4 +0.3
IVLU iShares MSCI Intl Value Factor ETF 4.4 30 20 10.4 +3.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 4.3 46 4 6.7 -0.5
EFAV iShares MSCI EAFE Min Vol Factor ETF 4.3 22 28 5.8 -1.4
FAN First Trust Global Wind Energy ETF 4.3 60 -10 4.5 -2.6
BBEU JPMorgan BetaBuilders Europe ETF 4.3 9 41 7.2 +0.1
FLEE Franklin FTSE Europe ETF 4.2 9 41 7.3 +0.2
VWID Virtus WMC International Dividend ETF 4.2 49 1 8.5 +1.3
INEQ Columbia International Equity Income ETF 4.1 45 5 8.1 +0.9
BKCI BNY Mellon Concentrated International ETF 4.1 80 -30 5.3 -1.9
SUPL ProShares Supply Chain Logistics ETF 4.1 58 -8 11.8 +4.7
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 4.0 46 4 5.6 -1.5
TEMP JPMorgan Climate Change Solutions ETF 4.0 49 1 5.8 -1.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 4.0 80 -30 9.6 +2.5
AWAY ETFMG Travel Tech ETF 3.9 76 -26 -0.9 -8.0
HAP VanEck Natural Resources ETF 3.8 50 0 9.4 +2.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.7 42 8 7.2 +0.1
JHID John Hancock International High Dividend ETF 3.7 46 4 9.5 +2.4
CGDG Capital Group Dividend Growers ETF 3.7 47 3 6.3 -0.9
FENI Fidelity Enhanced International ETF 3.7 28 22 6.6 -0.5
CGIE Capital Group International Equity ETF 3.7 54 -4 5.1 -2.0
WTRE WisdomTree New Economy Real Estate Fund 3.6 58 -8 9.9 +2.7
SRVR Pacer Data & Infrastructure Real Estate ETF 3.6 55 -5 3.7 -3.4
VYMI Vanguard International High Dividend Yield ETF 3.6 17 33 9.5 +2.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 3.6 20 30 6.3 -0.8
ESGD iShares ESG Aware MSCI EAFE ETF 3.6 20 30 6.7 -0.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 3.6 9 41 9.1 +2.0
NUDM Nuveen ESG International Developed Markets Equity ETF 3.6 31 19 6.3 -0.8
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.5 35 15 6.6 -0.5
EFA iShares MSCI EAFE ETF 3.5 35 15 6.7 -0.4
OCEN IQ Clean Oceans ETF 3.5 45 5 6.0 -1.1
DWMF WisdomTree International Multifactor Fund 3.4 38 12 7.0 -0.1
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.3 30 20 7.0 -0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.3 45 5 8.8 +1.7
IGF iShares Global Infrastructure ETF 3.3 41 9 4.7 -2.4
JIRE JPMorgan International Research Enhanced Equity ETF 3.3 24 26 7.2 +0.1
STXI Strive International Developed Markets ETF 3.3 29 21 6.7 -0.4
CLNR IQ Cleaner Transport ETF 3.3 45 5 6.6 -0.5
GII SPDR S&P Global Infrastructure ETF 3.3 40 10 4.7 -2.4
JHMD John Hancock Multifactor Developed International ETF 3.2 39 11 7.6 +0.4
COPY Tweedy, Browne Insider + Value ETF 3.2 80 -30 11.8 +4.7
CGXU Capital Group International Focus Equity ETF 3.2 54 -4 5.6 -1.5
FNDF Schwab Fundamental International Large Co. Index ETF 3.2 25 25 9.6 +2.5
TPIF Timothy Plan International ETF 3.1 62 -12 6.2 -0.9
QINT American Century Quality Diversified International ETF 3.0 39 11 7.3 +0.2
INTF iShares International Equity Factor ETF 3.0 15 35 7.6 +0.5
IQRA IQ CBRE Real Assets ETF 3.0 65 -15 5.7 -1.4
IEFA iShares Core MSCI EAFE ETF 2.9 7 43 7.0 -0.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.9 65 -15 12.1 +5.0
IGRO iShares International Dividend Growth ETF 2.9 15 35 7.3 +0.1
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 2.9 47 3 5.8 -1.3
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 2.9 20 30 6.5 -0.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 2.9 25 25 7.1 -0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.9 36 14 6.5 -0.6
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 2.8 12 38 6.0 -1.1
DGT SPDR Global Dow ETF 2.8 50 0 7.0 -0.1
HFXI IQ FTSE International Equity Currency Neutral ETF 2.8 20 30 7.1 -0.1
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.7 65 -15 8.1 +0.9
DIM WisdomTree International MidCap Dividend Fund 2.7 58 -8 7.5 +0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.7 39 11 6.7 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 2.7 20 30 6.9 -0.2
SCHF Schwab International Equity ETF 2.7 6 44 7.3 +0.2
CIL VictoryShares International Volatility Wtd ETF 2.7 45 5 6.6 -0.5
DEW WisdomTree Global High Dividend Fund 2.6 58 -8 8.4 +1.3
DFSI Dimensional International Sustainability Core 1 ETF 2.6 24 26 6.3 -0.8
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.6 50 0 6.0 -1.2
IDEV iShares Core MSCI International Developed Markets ETF 2.6 4 46 7.0 -0.2
JIG JPMorgan International Growth ETF 2.6 55 -5 4.8 -2.3
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 2.6 58 -8 8.8 +1.7
IQLT iShares MSCI Intl Quality Factor ETF 2.5 30 20 6.3 -0.8
FDD First Trust Stoxx European Select Dividend Index Fund 2.5 58 -8 11.3 +4.2
SPDW SPDR Portfolio Developed World ex-US ETF 2.5 3 47 7.0 -0.1
VEA Vanguard FTSE Developed Markets ETF 2.5 3 47 7.2 +0.1
TOLL Tema Monopolies and Oligopolies ETF 2.5 75 -25 5.1 -2.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 2.5 32 18 6.0 -1.1
IDAT iShares Future Cloud 5G and Tech ETF 2.5 47 3 4.7 -2.4
RCGE RockCreek Global Equality ETF 2.5 95 -45 6.7 -0.4
VOLT Tema Electrification ETF 2.4 75 -25 2.8 -4.3
BKIE BNY Mellon International Equity ETF 2.4 4 46 7.0 -0.1
IDMO Invesco S&P International Developed Momentum ETF 2.4 25 25 5.3 -1.8
FDCF Fidelity Disruptive Communications ETF 2.4 50 0 2.8 -4.3
EFG iShares MSCI EAFE Growth ETF 2.4 36 14 4.4 -2.8
DIHP Dimensional International High Profitability ETF 2.3 29 21 7.2 +0.0
DFIV Dimensional International Value ETF 2.3 27 23 9.6 +2.5
IXG iShares Global Financials ETF 2.3 42 8 6.5 -0.6
IDHQ Invesco S&P International Developed High Quality ETF 2.3 29 21 6.6 -0.5
RFDI First Trust Riverfront Dynamic Developed International ETF 2.3 83 -33 9.4 +2.3
AGQI First Trust Active Global Quality Income ETF 2.3 85 -35 4.9 -2.2
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.3 70 -20 4.8 -2.3
FRNW Fidelity Clean Energy ETF 2.3 39 11 3.3 -3.8
IQSI IQ Candriam International Equity ETF 2.3 15 35 6.6 -0.5
FIVA Fidelity International Value Factor ETF 2.3 18 32 9.9 +2.8
CWI SPDR MSCI ACWI ex-US ETF 2.2 30 20 7.7 +0.6
NUKZ Range Nuclear Renaissance Index ETF 2.2 85 -35 2.1 -5.1
IDOG ALPS International Sector Dividend Dogs ETF 2.2 50 0 12.1 +5.0
ACWX iShares MSCI ACWI ex U.S. ETF 2.2 34 16 7.8 +0.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.1 14 36 6.2 -0.9
AZTD Aztlan Global Stock Selection DM SMID ETF 2.1 75 -25 7.4 +0.3
FICS First Trust International Developed Capital Strength ETF 2.1 70 -20 7.3 +0.2
DFAI Dimensional International Core Equity Market ETF 2.1 18 32 7.1 +0.0
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.1 58 -8 4.7 -2.4
PPIE Putnam PanAgora ESG International Equity ETF 2.1 49 1 7.4 +0.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 2.0 80 -30 5.9 -1.2
IMOM Alpha Architect International Quantitative Momentum ETF 2.0 49 1 3.3 -3.8
TTAI FCF International Quality ETF 2.0 59 -9 7.2 +0.1
VEU Vanguard FTSE All-World ex-US Index Fund 2.0 4 46 8.1 +1.0
DMXF iShares ESG Advanced MSCI EAFE ETF 2.0 12 38 5.5 -1.6
JPIN J.P. Morgan Diversified Return International Equity ETF 2.0 37 13 8.3 +1.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.0 80 -30 5.0 -2.1
DIVI Franklin International Core Dividend Tilt Index ETF 2.0 9 41 7.9 +0.8
AVIV Avantis International Large Cap Value ETF 1.9 25 25 8.6 +1.5
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.9 65 -15 4.3 -2.8
IDLV Invesco S&P International Developed Low Volatility ETF 1.9 25 25 6.3 -0.8
IXUS iShares Core MSCI Total International Stock ETF 1.8 7 43 7.9 +0.8
VXUS Vanguard Total International Stock ETF 1.8 5 45 7.9 +0.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.8 39 11 7.9 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.8 41 9 7.5 +0.4
DFIC Dimensional International Core Equity 2 ETF 1.8 23 27 7.4 +0.3
VSGX Vanguard ESG International Stock ETF 1.7 10 40 7.7 +0.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.7 47 3 8.4 +1.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.7 18 32 7.9 +0.8
IMFL Invesco International Developed Dynamic Multifactor ETF 1.5 34 16 6.1 -1.1
DXIV Dimensional International Vector Equity ETF 1.5 34 16 7.8 +0.7
RXI iShares Global Consumer Discretionary ETF 1.5 41 9 9.3 +2.2
WWJD Inspire International ETF 1.5 80 -30 7.3 +0.2
AIVI WisdomTree International AI Enhanced Value Fund 1.4 58 -8 7.0 -0.1
TMFG Motley Fool Global Opportunities ETF 1.4 85 -35 3.9 -3.3
ISCF iShares International SmallCap Equity Factor ETF 1.4 23 27 8.2 +1.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.4 30 20 7.9 +0.8
FDEV Fidelity International Multifactor ETF 1.4 18 32 7.5 +0.4
CZAR Themes Natural Monopoly ETF 1.3 35 15 5.7 -1.4
AVDE Avantis International Equity ETF 1.3 23 27 7.4 +0.3
ESGG FlexShares STOXX Global ESG Select Index Fund 1.3 42 8 5.4 -1.7
GCOW Pacer Global Cash Cows Dividend ETF 1.3 60 -10 10.9 +3.8
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.3 75 -25 3.1 -4.0
JSTC Adasina Social Justice All Cap Global ETF 1.3 89 -39 4.8 -2.3
FIDI Fidelity International High Dividend ETF 1.3 18 32 8.7 +1.6
AVSD Avantis Responsible International Equity ETF 1.3 23 27 5.7 -1.5
UMMA Wahed Dow Jones Islamic World ETF 1.2 65 -15 5.4 -1.7
URAN Themes Uranium & Nuclear ETF 1.1 35 15 1.5 -5.6
VIDI Vident International Equity Strategy ETF 1.1 61 -11 10.9 +3.8
QWLD SPDR MSCI World StrategicFactors ETF 1.1 30 20 5.9 -1.2
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 40 5.7 -1.4
PBD Invesco Global Clean Energy ETF 1.1 75 -25 -0.3 -7.4
XT iShares Exponential Technologies ETF 1.1 46 4 4.9 -2.2
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 3 8.9 +1.8
NXTG First Trust Indxx NextG ETF 1.1 70 -20 5.3 -1.8
FYLD Cambria Foreign Shareholder Yield ETF 1.0 59 -9 11.6 +4.5
CGGO Capital Group Global Growth Equity ETF 1.0 47 3 4.7 -2.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.0 24 26 7.4 +0.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.0 12 38 5.2 -2.0
WLDR Affinity World Leaders Equity ETF 1.0 67 -17 7.5 +0.4
DWX SPDR S&P International Dividend ETF 1.0 45 5 6.1 -1.0
IXP iShares Global Comm Services ETF 1.0 42 8 5.6 -1.5
JETS U.S. Global Jets ETF 0.9 60 -10 2.6 -4.5
TOK iShares MSCI Kokusai ETF 0.9 26 24 5.0 -2.1
KOCG FIS Knights of Columbus Global Belief ETF 0.9 75 -25 5.2 -1.9
URTH iShares MSCI World ETF 0.9 24 26 5.1 -2.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.8 9 41 5.7 -1.4
SCHY Schwab International Dividend Equity ETF 0.8 14 36 9.7 +2.6
GLOF iShares Global Equity Factor ETF 0.8 20 30 6.5 -0.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.8 9 41 5.2 -1.9
DFIS Dimensional International Small Cap ETF 0.8 39 11 7.3 +0.2
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.8 25 25 5.9 -1.2
BLES Inspire Global Hope ETF 0.8 61 -11 6.8 -0.3
ACWI iShares MSCI ACWI ETF 0.8 32 18 5.5 -1.6
IOO iShares Global 100 ETF 0.8 41 9 4.8 -2.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.7 20 30 5.6 -1.5
DISV Dimensional International Small Cap Value ETF 0.7 42 8 9.1 +1.9
FILL iShares MSCI Global Energy Producers ETF 0.7 39 11 11.6 +4.4
IXC iShares Global Energy ETF 0.7 44 6 10.0 +2.9
KNCT Invesco Next Gen Connectivity ETF 0.7 40 10 4.8 -2.3
VT Vanguard Total World Stock ETF 0.7 6 44 5.9 -1.3
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -10 3.6 -3.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.6 33 17 10.2 +3.1
AVDV Avantis International Small Cap Value ETF 0.6 36 14 9.5 +2.4
EXI iShares Global Industrials ETF 0.5 42 8 4.5 -2.6
OGIG ALPS O'Shares Global Internet Giants ETF 0.5 48 2 1.6 -5.5
GNR SPDR S&P Global Natural Resources ETF 0.4 40 10 11.0 +3.9
CGGR Capital Group Growth ETF 0.4 39 11 3.1 -4.0
LVHI Franklin International Low Volatility High Dividend Index ET 0.4 40 10 10.3 +3.2
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -15 4.1 -3.0
CCNR ALPS CoreCommodity Natural Resources ETF 0.3 39 11 11.0 +3.9
AVDS Avantis International Small Cap Equity ETF 0.3 30 20 7.3 +0.2
DTAN Sparkline International Intangible Value ETF 0.3 55 -5 8.5 +1.4
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.3 46 4 9.9 +2.8
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -5 12.5 +5.4
FNDC Schwab Fundamental International Small Co. Index ETF 0.2 39 11 5.8 -1.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.2 49 1 6.8 -0.3
RODE Hartford Multifactor Diversified International ETF 0.2 29 21 11.4 +4.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.2 29 21 7.7 +0.6
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 29 3.7 -3.4
IBUY Amplify Online Retail ETF 0.1 65 -15 0.9 -6.3
IXJ iShares Global Healthcare ETF 0.0 42 8 7.3 +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 11.0 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.66 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.