iShares MSCI Spain ETF
ALTAR
Score™		 6.0% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 13.8x P/Sales
ratio		 1.5x
P/BV
ratio		 1.8x Div.
yield		 3.0%


  • 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) $1,885
Currency USD
Expense ratio 50 bp
Distributions Semi-annual

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) $94,267
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 17.7 %
IBERDROLA SA 14.4 %
BANCO BILBAO VIZCAYA ARGENTA 12.0 %
REPSOL YPF SA 4.9 %
CRITERIA CAIXACORP SA 4.5 %
ACS ACTIVIDADES CONS Y SERV 4.4 %
GRUPO FERROVIAL 4.3 %
INDITEX 4.1 %
AENA SME SA 3.8 %
AMADEUS IT HOLDING SA-A SHS 3.7 %
Total 73.9 %

TOP COUNTRY EXPOSURE
SPAIN 94.7 %
BRITAIN 1.6 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.7% 46.3% 18.3% 10.7% 8.6%

Market Correlations
versus... Beta R-squared
S&P500 0.74 43%
MSCI EAFE 1.07 77%
MSCI Emg. Mkts. 0.76 51%

Technical Indicators
Recent close $55.97
30d moving avg. $54.60
Annualized volatility 18.1%
Short interest (ETF) 5.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 495
Turnover 1.5%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $547

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 234 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™: 6.0%


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 14.8 58 -8 6.0 0.0
EUFN iShares MSCI Europe Financials ETF 11.8 51 -1 7.1 +1.0
EZU iShares MSCI Eurozone ETF 10.8 52 -2 5.7 -0.4
FEZ SPDR EURO STOXX 50 ETF 10.7 29 21 5.8 -0.3
IDV iShares International Select Dividend ETF 9.6 51 -1 9.0 +2.9
FEUZ First Trust Eurozone AlphaDEX ETF 9.5 80 -30 6.5 +0.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 9.5 45 5 5.7 -0.3
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 9.4 75 -25 5.8 -0.3
ITOL Tema International Durable Quality ETF 8.8 60 -10 4.9 -1.1
SMOG VanEck Low Carbon Energy ETF 8.5 61 -11 1.1 -4.9
EFAS Global X MSCI SuperDividend EAFE ETF 8.1 57 -7 7.3 +1.2
IMTM iShares MSCI Intl Momentum Factor ETF 7.8 30 20 4.7 -1.4
JXI iShares Global Utilities ETF 7.6 43 7 4.9 -1.2
IDMO Invesco S&P International Developed Momentum ETF 7.2 25 25 5.2 -0.9
FGD First Trust Dow Jones Global Select Dividend Index Fund 7.1 56 -6 9.8 +3.7
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 7.1 79 -29 3.7 -2.3
IPAV Global X Infrastructure Development ex-U.S. ETF 7.0 55 -5 5.6 -0.5
CGIE Capital Group International Equity ETF 6.9 54 -4 4.6 -1.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 6.7 58 -8 6.3 +0.3
IQDG WisdomTree International Quality Dividend Growth Fund 6.4 42 8 5.7 -0.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 6.4 58 -8 5.4 -0.6
DOL WisdomTree International LargeCap Dividend Fund 6.4 48 2 5.7 -0.3
FEP First Trust Europe AlphaDEX Fund 6.4 80 -30 6.8 +0.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 6.3 25 25 6.3 +0.3
DTH WisdomTree International High Dividend Fund 6.2 58 -8 7.3 +1.2
OCEN IQ Clean Oceans ETF 6.0 45 5 4.5 -1.5
VCLN Virtus Duff & Phelps Clean Energy ETF 6.0 59 -9 2.4 -3.7
ICPY Tweedy, Browne International Insider Value ETF 5.9 80 -30 21.9 +15.8
FICS First Trust International Developed Capital Strength ETF 5.8 70 -20 6.6 +0.6
CLNR IQ Cleaner Transport ETF 5.8 45 5 3.9 -2.2
ICLN iShares Global Clean Energy ETF 5.8 41 9 1.8 -4.3
IEV iShares Europe ETF 5.8 67 -17 5.8 -0.2
VWID Virtus WMC International Dividend ETF 5.7 49 1 7.2 +1.2
FLEE Franklin FTSE Europe ETF 5.6 9 41 6.3 +0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 5.6 46 4 5.6 -0.5
BBEU JPMorgan BetaBuilders Europe ETF 5.5 9 41 6.2 +0.1
EFV iShares MSCI EAFE Value ETF 5.5 34 16 7.6 +1.5
CGDG Capital Group Dividend Growers ETF 5.4 47 3 5.1 -0.9
VGK Vanguard FTSE Europe ETF 5.3 6 44 6.5 +0.5
IEUR iShares Core MSCI Europe ETF 5.2 11 39 6.3 +0.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 5.0 40 10 5.7 -0.3
SPEU SPDR Portfolio Europe ETF 5.0 7 43 6.4 +0.4
DWM WisdomTree International Equity Fund 5.0 48 2 5.6 -0.4
UIVM VictoryShares International Value Momentum ETF 4.9 35 15 8.3 +2.3
OEFA ALPS O’Shares International Developed Quality Dividend ETF 4.7 48 2 4.6 -1.4
DWMF WisdomTree International Multifactor Fund 4.6 38 12 6.7 +0.6
EUDV ProShares MSCI Europe Dividend Growers ETF 4.6 55 -5 5.5 -0.5
FENI Fidelity Enhanced International ETF 4.5 28 22 5.8 -0.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 4.5 9 41 7.6 +1.5
ESGD iShares ESG Aware MSCI EAFE ETF 4.3 20 30 5.8 -0.3
HAP VanEck Natural Resources ETF 4.3 50 0 6.5 +0.5
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 4.2 46 4 5.1 -1.0
COPY Tweedy, Browne Insider + Value ETF 4.1 80 -30 15.1 +9.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 4.1 25 25 6.2 +0.1
IVLU iShares MSCI Intl Value Factor ETF 4.0 30 20 8.2 +2.2
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 4.0 20 30 5.6 -0.4
AGQI First Trust Active Global Quality Income ETF 4.0 85 -35 6.5 +0.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.9 39 11 6.2 +0.1
VYMI Vanguard International High Dividend Yield ETF 3.9 17 33 8.0 +2.0
GII SPDR S&P Global Infrastructure ETF 3.9 40 10 4.1 -1.9
IGF iShares Global Infrastructure ETF 3.9 41 9 4.1 -1.9
TPIF Timothy Plan International ETF 3.8 62 -12 5.5 -0.5
FAN First Trust Global Wind Energy ETF 3.8 60 -10 2.6 -3.5
EFA iShares MSCI EAFE ETF 3.8 35 15 5.8 -0.3
EFAV iShares MSCI EAFE Min Vol Factor ETF 3.7 22 28 5.6 -0.4
BKCI BNY Mellon Concentrated International ETF 3.7 80 -30 4.9 -1.2
SUPL ProShares Supply Chain Logistics ETF 3.7 58 -8 7.6 +1.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.7 35 15 5.7 -0.4
AWAY ETFMG Travel Tech ETF 3.7 76 -26 1.1 -5.0
NUDM Nuveen ESG International Developed Markets Equity ETF 3.7 31 19 5.6 -0.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.7 36 14 5.5 -0.6
JHMD John Hancock Multifactor Developed International ETF 3.5 39 11 6.2 +0.1
PIEL Pacer International Export Leaders ETF 3.5 60 -10 4.3 -1.8
HFXI IQ FTSE International Equity Currency Neutral ETF 3.5 20 30 5.8 -0.3
INTF iShares International Equity Factor ETF 3.5 15 35 6.5 +0.4
JHID John Hancock International High Dividend ETF 3.4 46 4 7.9 +1.9
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 3.4 80 -30 5.4 -0.7
GSID Goldman Sachs MarketBeta International Equity ETF 3.4 20 30 5.9 -0.2
CGXU Capital Group International Focus Equity ETF 3.4 54 -4 3.9 -2.1
STXI Strive International Developed Markets ETF 3.4 29 21 6.2 +0.1
JIRE JPMorgan International Research Enhanced Equity ETF 3.4 24 26 5.9 -0.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 3.3 20 30 5.6 -0.5
IVSI Applied Finance IVS International LrgETF 3.3 65 -15 6.1 +0.0
JIG JPMorgan International Growth ETF 3.3 55 -5 3.6 -2.5
IEFA iShares Core MSCI EAFE ETF 3.2 7 43 6.1 +0.0
TOLL Tema Durable Quality ETF 3.2 75 -25 4.0 -2.1
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.2 30 20 6.0 0.0
FDEV Fidelity International Multifactor ETF 3.2 18 32 7.1 +1.1
IMOM Alpha Architect International Quantitative Momentum ETF 3.1 49 1 4.1 -2.0
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.1 47 3 4.9 -1.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.0 45 5 6.9 +0.9
QINT American Century Quality Diversified International ETF 3.0 39 11 6.6 +0.6
BKIE BNY Mellon International Equity ETF 3.0 4 46 6.0 -0.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 3.0 12 38 5.3 -0.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.0 42 8 4.0 -2.0
IQSI IQ Candriam International Equity ETF 3.0 15 35 5.6 -0.4
WTRE WisdomTree New Economy Real Estate Fund 2.9 58 -8 -0.3 -6.4
SRVR Pacer Data & Infrastructure Real Estate ETF 2.9 55 -5 3.5 -2.5
IQRA IQ CBRE Real Assets ETF 2.9 65 -15 5.7 -0.3
IQLT iShares MSCI Intl Quality Factor ETF 2.9 30 20 5.4 -0.7
FRGN Horizon International Equity ETF 2.9 75 -25 8.0 +2.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.9 14 36 5.4 -0.7
IDEV iShares Core MSCI International Developed Markets ETF 2.9 4 46 6.0 -0.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 2.8 65 -15 7.7 +1.7
DEW WisdomTree Global High Dividend Fund 2.8 58 -8 7.3 +1.3
CIL VictoryShares International Volatility Wtd ETF 2.8 45 5 5.8 -0.3
SCHF Schwab International Equity ETF 2.8 6 44 6.0 -0.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 2.8 32 18 5.3 -0.8
FNDF Schwab Fundamental International Large Co. Index ETF 2.8 25 25 7.6 +1.5
DIVI Franklin International Core Dividend Tilt Index ETF 2.8 9 41 6.6 +0.6
NUKZ Range Nuclear Renaissance Index ETF 2.8 85 -35 1.2 -4.9
DIHP Dimensional International High Profitability ETF 2.7 29 21 5.7 -0.3
WLDR Affinity World Leaders Equity ETF 2.7 67 -17 6.3 +0.3
VEA Vanguard FTSE Developed Markets ETF 2.7 3 47 6.0 -0.0
FIVA Fidelity International Value Factor ETF 2.7 18 32 7.5 +1.5
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.7 50 0 5.6 -0.4
DFIV Dimensional International Value ETF 2.7 27 23 7.9 +1.8
IXG iShares Global Financials ETF 2.7 42 8 6.3 +0.3
RFDI First Trust Riverfront Dynamic Developed International ETF 2.6 83 -33 7.7 +1.7
SPDW SPDR Portfolio Developed World ex-US ETF 2.6 3 47 5.9 -0.1
DFSI Dimensional International Sustainability Core 1 ETF 2.6 24 26 5.6 -0.4
SCHY Schwab International Dividend Equity ETF 2.6 14 36 8.3 +2.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 2.6 80 -30 3.4 -2.7
CWI SPDR MSCI ACWI ex-US ETF 2.5 30 20 6.5 +0.4
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 25 6.2 +0.2
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.4 65 -15 7.5 +1.4
IDHQ Invesco S&P International Developed High Quality ETF 2.4 29 21 5.5 -0.6
FRNW Fidelity Clean Energy ETF 2.4 39 11 1.8 -4.3
DFAI Dimensional International Core Equity Market ETF 2.3 18 32 6.0 -0.0
ACWX iShares MSCI ACWI ex U.S. ETF 2.3 34 16 6.4 +0.3
FDFF Fidelity Disruptive Finance ETF 2.3 50 0 5.3 -0.7
IGRO iShares International Dividend Growth ETF 2.3 15 35 6.7 +0.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.3 41 9 6.1 +0.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.2 39 11 7.0 +1.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 2.2 24 26 6.9 +0.8
VEU Vanguard FTSE All-World ex-US Index Fund 2.1 4 46 6.7 +0.7
WWJD Inspire International ETF 2.1 80 -30 6.2 +0.1
AVIV Avantis International Large Cap Value ETF 2.1 25 25 7.0 +0.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.0 18 32 6.4 +0.4
TTAI FCF International Quality ETF 2.0 59 -9 6.7 +0.6
VXUS Vanguard Total International Stock ETF 2.0 5 45 6.6 +0.6
IVAL Alpha Architect International Quantitative Value ETF 2.0 49 1 7.8 +1.7
SDG iShares MSCI Global Sustainable Development Goals ETF 2.0 49 1 4.5 -1.6
DGT State Street SPDR Global Dow ETF 2.0 50 0 5.8 -0.3
IXUS iShares Core MSCI Total International Stock ETF 2.0 7 43 6.6 +0.5
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.9 80 -30 6.7 +0.7
LVHI Franklin International Low Volatility High Dividend Index ET 1.9 40 10 7.5 +1.5
AIVI WisdomTree International AI Enhanced Value Fund 1.9 58 -8 6.3 +0.2
GCOW Pacer Global Cash Cows Dividend ETF 1.9 60 -10 9.1 +3.1
JPIN J.P. Morgan Diversified Return International Equity ETF 1.9 37 13 7.0 +1.0
DFIC Dimensional International Core Equity 2 ETF 1.9 23 27 6.2 +0.2
EFG iShares MSCI EAFE Growth ETF 1.9 36 14 3.8 -2.3
DMXF iShares ESG Advanced MSCI EAFE ETF 1.9 12 38 5.0 -1.1
ESGG FlexShares STOXX Global ESG Select Index Fund 1.8 42 8 4.2 -1.8
CGGO Capital Group Global Growth Equity ETF 1.8 47 3 4.2 -1.8
FDCF Fidelity Disruptive Communications ETF 1.8 50 0 1.9 -4.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 3 7.3 +1.3
VSGX Vanguard ESG International Stock ETF 1.8 10 40 6.7 +0.6
ISCF iShares International SmallCap Equity Factor ETF 1.8 23 27 7.2 +1.2
XT iShares Exponential Technologies ETF 1.7 46 4 4.0 -2.0
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 1.6 65 -15 4.0 -2.1
DXIV Dimensional International Vector Equity ETF 1.6 34 16 6.6 +0.5
AVDE Avantis International Equity ETF 1.6 23 27 6.2 +0.1
FIDI Fidelity International High Dividend ETF 1.6 18 32 7.1 +1.1
AKAF The Frontier Economic Fund 1.6 20 30 5.1 -0.9
AVSD Avantis Responsible International Equity ETF 1.6 23 27 6.0 -0.1
OAIM OneAscent International Equity ETF 1.6 95 -45 4.6 -1.4
KOCG FIS Knights of Columbus Global Belief ETF 1.6 75 -25 4.4 -1.7
IQDF FlexShares International Quality Dividend Index Fund 1.6 47 3 7.6 +1.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 1.6 58 -8 3.3 -2.7
RXI iShares Global Consumer Discretionary ETF 1.5 41 9 7.9 +1.9
RCGE RockCreek Global Equality ETF 1.5 95 -45 6.1 +0.0
IMFL Invesco International Developed Dynamic Multifactor ETF 1.5 34 16 5.2 -0.8
TMFG Motley Fool Global Opportunities ETF 1.5 85 -35 3.7 -2.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.4 30 20 6.4 +0.3
DIM WisdomTree International MidCap Dividend Fund 1.4 58 -8 6.2 +0.2
PPIE Putnam PanAgora ESG International Equity ETF 1.3 49 1 6.5 +0.5
URAN Themes Uranium & Nuclear ETF 1.3 35 15 0.8 -5.2
POW VistaShares Electrification Supercycle ETF 1.2 75 -25 1.8 -4.2
DWX SPDR S&P International Dividend ETF 1.2 45 5 6.8 +0.7
FYLD Cambria Foreign Shareholder Yield ETF 1.2 59 -9 10.2 +4.2
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 5.5 -0.5
BLES Inspire Global Hope ETF 1.1 61 -11 5.7 -0.3
QWLD SPDR MSCI World StrategicFactors ETF 1.1 30 20 5.2 -0.9
NXTG First Trust Indxx NextG ETF 1.1 70 -20 4.0 -2.0
GLOF iShares Global Equity Factor ETF 1.0 20 30 5.6 -0.4
IXP iShares Global Comm Services ETF 1.0 42 8 5.4 -0.6
TOK iShares MSCI Kokusai ETF 1.0 26 24 4.3 -1.7
CCNR ALPS CoreCommodity Natural Resources ETF 1.0 39 11 7.9 +1.8
JADE JPMorgan Active Developing Markets Equity ETF 1.0 65 -15 6.1 +0.1
UMMA Wahed Dow Jones Islamic World ETF 1.0 65 -15 3.7 -2.3
KOKU Xtrackers MSCI Kokusai Equity ETF 1.0 9 41 4.4 -1.6
URTH iShares MSCI World ETF 1.0 24 26 4.4 -1.7
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 1.0 35 15 3.6 -2.5
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.0 75 -25 1.9 -4.1
GEW Cambria Global EW ETF 0.9 29 21 5.4 -0.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.9 12 38 4.4 -1.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.9 9 41 4.9 -1.1
JSTC Adasina Social Justice All Cap Global ETF 0.9 89 -39 4.5 -1.6
CRTC Xtrackers US National Critical Technologies ETF 0.9 35 15 4.2 -1.9
ACWI iShares MSCI ACWI ETF 0.9 32 18 4.7 -1.3
IOO iShares Global 100 ETF 0.9 41 9 3.9 -2.2
DISV Dimensional International Small Cap Value ETF 0.8 42 8 8.2 +2.2
PBD Invesco Global Clean Energy ETF 0.8 75 -25 0.2 -5.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.8 29 21 7.0 +1.0
IXC iShares Global Energy ETF 0.8 44 6 7.3 +1.2
VT Vanguard Total World Stock ETF 0.8 6 44 5.1 -1.0
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 0.8 58 -8 7.4 +1.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.8 20 30 4.8 -1.3
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -10 3.5 -2.6
DFIS Dimensional International Small Cap ETF 0.7 39 11 6.1 +0.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.7 33 17 6.8 +0.7
EXI iShares Global Industrials ETF 0.6 42 8 3.5 -2.5
KNCT Invesco Next Gen Connectivity ETF 0.6 40 10 3.4 -2.7
GNR SPDR S&P Global Natural Resources ETF 0.6 40 10 8.2 +2.1
GLBL Pacer MSCI World Industry Advantage ETF 0.5 65 -15 3.4 -2.6
FNDC Schwab Fundamental International Small Co. Index ETF 0.5 39 11 6.7 +0.6
DTAN Sparkline International Intangible Value ETF 0.5 55 -5 7.3 +1.2
VIDI Vident International Equity Strategy ETF 0.5 61 -11 8.3 +2.3
JETS U.S. Global Jets ETF 0.4 60 -10 2.7 -3.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.4 49 1 6.0 -0.1
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 4 7.4 +1.4
AQLT iShares MSCI Global Quality Factor ETF 0.3 18 32 0.0 -6.0
AVDV Avantis International Small Cap Value ETF 0.3 36 14 7.7 +1.7
CGGR Capital Group Growth ETF 0.2 39 11 2.5 -3.5
ACWV iShares MSCI Global Min Vol Factor ETF 0.2 20 30 5.7 -0.3
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -5 8.1 +2.1
INEQ Columbia International Equity Income ETF 0.2 45 5 7.8 +1.7
IBUY Amplify Online Retail ETF 0.1 65 -15 2.1 -3.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 42 6.2 +0.1
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 29 2.9 -3.2
AVDS Avantis International Small Cap Equity ETF 0.1 30 20 6.0 -0.0
IXJ iShares Global Healthcare ETF 0.0 42 8 6.4 +0.4

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 6.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.71 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.