iShares MSCI Spain ETF
ALTAR
Score™		 7.7% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 11.7x P/Sales
ratio		 1.2x
P/BV
ratio		 1.4x Div.
yield		 4.1%


  • 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) $1,193
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) $68,206
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 18.2 %
IBERDROLA SA 16.1 %
BANCO BILBAO VIZCAYA ARGENTA 12.5 %
CRITERIA CAIXACORP SA 4.7 %
TELEFONICA SA 4.6 %
CELLNEX TELECOM S.A. 4.6 %
AENA SA 4.4 %
BANCO DE SABADELL SA 4.4 %
GRUPO FERROVIAL 4.3 %
ACS ACTIVIDADES CONS Y SERV 4.2 %
Total 78.0 %

TOP COUNTRY EXPOSURE
SPAIN 100.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
30.8% 31.9% 17.4% 4.4% 7.6%

Market Correlations
versus... Beta R-squared
S&P500 0.74 33%
MSCI EAFE 1.06 71%
MSCI Emg. Mkts. 0.85 45%

Technical Indicators
Recent close $42.21
30d moving avg. $39.11
Annualized volatility 21.4%
Short interest (ETF) 3.1%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 566
Turnover 2.0%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $547

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 229 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™: 7.7%


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 6.4 -1.3
RNWZ TrueShares Eagle Global Renewable Energy Income ETF 10.0 75 -25 8.1 +0.4
VCLN Virtus Duff & Phelps Clean Energy ETF 9.5 59 -9 5.8 -1.9
EUFN iShares MSCI Europe Financials ETF 9.1 51 -1 8.3 +0.6
EZU iShares MSCI Eurozone ETF 9.0 52 -2 6.8 -0.9
SMOG VanEck Low Carbon Energy ETF 8.9 61 -11 1.6 -6.1
EFAS Global X MSCI SuperDividend EAFE ETF 8.6 57 -7 8.4 +0.7
FEZ SPDR EURO STOXX 50 ETF 8.5 29 21 7.1 -0.6
BLLD JPMorgan Sustainable Infrastructure ETF 8.2 49 1 6.2 -1.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 8.1 45 5 6.7 -0.9
IGF iShares Global Infrastructure ETF 7.7 41 9 4.7 -2.9
GII SPDR S&P Global Infrastructure ETF 7.7 40 10 4.7 -2.9
IPAV Global X Infrastructure Development ex-U.S. ETF 7.6 55 -5 7.9 +0.2
GVAL Cambria Global Value ETF 6.9 68 -18 11.1 +3.4
DTH WisdomTree International High Dividend Fund 6.6 58 -8 9.1 +1.4
FEUZ First Trust Eurozone AlphaDEX ETF 6.5 80 -30 9.6 +1.9
DOL WisdomTree International LargeCap Dividend Fund 6.4 48 2 7.5 -0.2
ICLN iShares Global Clean Energy ETF 6.0 41 9 6.0 -1.7
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 6.0 80 -30 5.5 -2.1
TOLL Tema Monopolies and Oligopolies ETF 5.8 75 -25 3.7 -3.9
JXI iShares Global Utilities ETF 5.8 43 7 5.9 -1.8
IDV iShares International Select Dividend ETF 5.7 51 -1 12.0 +4.3
OEUR ALPS O'Shares Europe Quality Dividend ETF 5.6 48 2 5.9 -1.8
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 5.5 46 4 5.5 -2.2
UIVM VictoryShares International Value Momentum ETF 5.4 35 15 9.6 +1.9
GSFP Goldman Sachs Future Planet Equity ETF 5.3 75 -25 4.7 -3.0
DWM WisdomTree International Equity Fund 5.1 48 2 7.7 +0.0
FEP First Trust Europe AlphaDEX Fund 5.1 80 -30 9.6 +2.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 5.0 40 10 7.7 +0.0
IEV iShares Europe ETF 5.0 67 -17 6.9 -0.8
INEQ Columbia International Equity Income ETF 4.8 45 5 8.7 +1.1
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 4.8 79 -29 5.7 -2.0
EFAV iShares MSCI EAFE Min Vol Factor ETF 4.7 22 28 5.8 -1.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 4.6 25 25 7.4 -0.3
EUDV ProShares MSCI Europe Dividend Growers ETF 4.6 55 -5 5.8 -1.9
VWID Virtus WMC International Dividend ETF 4.6 49 1 8.9 +1.2
SRVR Pacer Data & Infrastructure Real Estate ETF 4.6 55 -5 3.8 -3.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 4.5 58 -8 6.8 -0.9
DBEU Xtrackers MSCI Europe Hedged Equity ETF 4.5 46 4 6.6 -1.0
EFV iShares MSCI EAFE Value ETF 4.5 34 16 9.4 +1.7
BBEU JPMorgan BetaBuilders Europe ETF 4.4 9 41 7.2 -0.5
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.3 58 -8 6.8 -0.9
IVLU iShares MSCI Intl Value Factor ETF 4.3 30 20 11.0 +3.3
IQDG WisdomTree International Quality Dividend Growth Fund 4.3 42 8 7.1 -0.6
IEUR iShares Core MSCI Europe ETF 4.3 11 39 7.4 -0.3
VGK Vanguard FTSE Europe ETF 4.3 11 39 7.4 -0.2
FLEE Franklin FTSE Europe ETF 4.3 9 41 7.3 -0.4
FENI Fidelity Enhanced International ETF 4.2 28 22 6.9 -0.8
FAN First Trust Global Wind Energy ETF 4.2 60 -10 4.9 -2.8
SPEU SPDR Portfolio Europe ETF 4.1 7 43 7.4 -0.3
WTRE WisdomTree New Economy Real Estate Fund 4.1 58 -8 9.1 +1.4
BKCI BNY Mellon Concentrated International ETF 4.0 80 -30 5.1 -2.6
SUPL ProShares Supply Chain Logistics ETF 4.0 58 -8 10.7 +3.1
FGD First Trust Dow Jones Global Select Dividend Index Fund 4.0 56 -6 12.3 +4.6
TEMP JPMorgan Climate Change Solutions ETF 4.0 49 1 5.9 -1.8
DWMF WisdomTree International Multifactor Fund 3.9 38 12 7.0 -0.7
AWAY ETFMG Travel Tech ETF 3.9 76 -26 -0.1 -7.8
FICS First Trust International Developed Capital Strength ETF 3.9 70 -20 6.1 -1.6
IQRA IQ CBRE Real Assets ETF 3.9 65 -15 5.7 -2.0
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.9 47 3 5.8 -1.9
HAP VanEck Natural Resources ETF 3.8 50 0 10.1 +2.4
RFEU First Trust Riverfront Dynamic Europe ETF 3.8 83 -33 10.6 +2.9
NLR VanEck Uranium+Nuclear Energy ETF 3.7 61 -11 2.8 -4.9
JHID John Hancock International High Dividend ETF 3.7 46 4 11.0 +3.4
CGDG Capital Group Dividend Growers ETF 3.7 47 3 6.3 -1.3
IMTM iShares MSCI Intl Momentum Factor ETF 3.7 30 20 5.5 -2.2
CGIE Capital Group International Equity ETF 3.7 54 -4 5.0 -2.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 3.6 9 41 9.3 +1.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.6 42 8 6.7 -0.9
NUDM Nuveen ESG International Developed Markets Equity ETF 3.6 31 19 6.5 -1.1
QEFA SPDR MSCI EAFE StrategicFactors ETF 3.5 30 20 7.1 -0.6
IDLV Invesco S&P International Developed Low Volatility ETF 3.5 25 25 6.6 -1.1
TPIF Timothy Plan International ETF 3.5 62 -12 6.4 -1.2
OCEN IQ Clean Oceans ETF 3.5 45 5 6.6 -1.1
JHMD John Hancock Multifactor Developed International ETF 3.4 39 11 7.8 +0.1
QINT American Century Quality Diversified International ETF 3.4 39 11 7.6 -0.1
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 3.4 12 38 6.3 -1.4
VYMI Vanguard International High Dividend Yield ETF 3.3 22 28 9.9 +2.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.3 45 5 9.2 +1.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 3.3 20 30 6.5 -1.1
JIRE JPMorgan International Research Enhanced Equity ETF 3.3 24 26 7.4 -0.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility In 3.3 32 18 6.0 -1.7
ESGD iShares ESG Aware MSCI EAFE ETF 3.3 20 30 7.0 -0.7
CLNR IQ Cleaner Transport ETF 3.3 45 5 6.9 -0.8
CEFA Global X S&P Catholic Values Developed ex-US ETF 3.3 35 15 6.8 -0.9
IGRO iShares International Dividend Growth ETF 3.3 15 35 7.3 -0.4
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF 3.2 65 -15 3.7 -3.9
EFA iShares MSCI EAFE ETF 3.2 35 15 7.0 -0.7
CGXU Capital Group International Focus Equity ETF 3.2 54 -4 5.8 -1.9
RCGE RockCreek Global Equality ETF 3.2 95 -45 6.4 -1.2
FNDF Schwab Fundamental International Large Co. Index ETF 3.1 25 25 10.0 +2.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 3.1 80 -30 10.5 +2.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 3.0 25 25 7.4 -0.3
CIL VictoryShares International Volatility Wtd ETF 3.0 45 5 6.8 -0.9
ICOW Pacer Developed Markets International Cash Cows 100 ETF 3.0 65 -15 12.1 +4.4
STXI Strive International Developed Markets ETF 3.0 29 21 7.1 -0.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.0 36 14 6.7 -1.0
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 2.9 20 30 6.7 -1.0
IDAT iShares Future Cloud 5G and Tech ETF 2.9 47 3 5.0 -2.6
HFXI IQ FTSE International Equity Currency Neutral ETF 2.9 20 30 7.3 -0.4
DWX SPDR S&P International Dividend ETF 2.8 45 5 6.2 -1.5
GSID Goldman Sachs MarketBeta International Equity ETF 2.8 20 30 7.2 -0.5
VOLT Tema Electrification ETF 2.8 75 -25 3.1 -4.6
INTF iShares International Equity Factor ETF 2.8 15 35 7.9 +0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 2.7 39 11 6.9 -0.7
IEFA iShares Core MSCI EAFE ETF 2.7 7 43 7.3 -0.4
IDMO Invesco S&P International Developed Momentum ETF 2.7 25 25 5.5 -2.1
FDD First Trust Stoxx European Select Dividend Index Fund 2.6 58 -8 12.0 +4.3
DEW WisdomTree Global High Dividend Fund 2.6 58 -8 8.8 +1.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.6 50 0 5.9 -1.8
JIG JPMorgan International Growth ETF 2.6 55 -5 4.7 -2.9
DIHP Dimensional International High Profitability ETF 2.6 29 21 7.3 -0.3
BKIE BNY Mellon International Equity ETF 2.5 4 46 7.3 -0.4
DGT SPDR Global Dow ETF 2.5 50 0 7.5 -0.2
DFSI Dimensional International Sustainability Core 1 ETF 2.5 24 26 6.6 -1.0
SCHF Schwab International Equity ETF 2.5 6 44 7.6 -0.1
IQLT iShares MSCI Intl Quality Factor ETF 2.5 30 20 6.3 -1.4
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.5 65 -15 8.2 +0.5
AGQI First Trust Active Global Quality Income ETF 2.4 85 -35 5.0 -2.7
IDEV iShares Core MSCI International Developed Markets ETF 2.4 4 46 7.3 -0.4
FDCF Fidelity Disruptive Communications ETF 2.4 50 0 3.3 -4.4
DFIV Dimensional International Value ETF 2.4 27 23 10.2 +2.6
URAN Themes Uranium & Nuclear ETF 2.4 35 15 2.2 -5.4
VEA Vanguard FTSE Developed Markets ETF 2.3 5 45 7.5 -0.2
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.3 58 -8 5.0 -2.7
SPDW SPDR Portfolio Developed World ex-US ETF 2.3 3 47 7.4 -0.3
DIM WisdomTree International MidCap Dividend Fund 2.3 58 -8 7.8 +0.1
FRNW Fidelity Clean Energy ETF 2.3 39 11 4.3 -3.4
FYLD Cambria Foreign Shareholder Yield ETF 2.3 59 -9 12.1 +4.4
IQSI IQ Candriam International Equity ETF 2.3 15 35 6.7 -1.0
FIVA Fidelity International Value Factor ETF 2.3 18 32 10.5 +2.8
IDHQ Invesco S&P International Developed High Quality ETF 2.2 29 21 6.7 -1.0
CWI SPDR MSCI ACWI ex-US ETF 2.1 30 20 8.0 +0.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 2.1 14 36 6.4 -1.2
PPIE Putnam PanAgora ESG International Equity ETF 2.1 49 1 7.6 -0.1
JETS U.S. Global Jets ETF 2.1 60 -10 3.8 -3.9
RFDI First Trust Riverfront Dynamic Developed International ETF 2.0 83 -33 9.8 +2.1
TTAI FCF International Quality ETF 2.0 59 -9 7.1 -0.6
ACWX iShares MSCI ACWI ex U.S. ETF 2.0 34 16 8.0 +0.3
AVIV Avantis International Large Cap Value ETF 2.0 25 25 9.1 +1.5
IDOG ALPS International Sector Dividend Dogs ETF 2.0 50 0 12.6 +4.9
IMOM Alpha Architect International Quantitative Momentum ETF 2.0 49 1 4.6 -3.1
JPIN J.P. Morgan Diversified Return International Equity ETF 2.0 37 13 8.8 +1.1
DFAI Dimensional International Core Equity Market ETF 2.0 18 32 7.5 -0.2
WWJD Inspire International ETF 2.0 80 -30 7.4 -0.3
IXG iShares Global Financials ETF 2.0 42 8 6.8 -0.9
DIVI Franklin International Core Dividend Tilt Index ETF 2.0 9 41 8.2 +0.5
AZTD Aztlan Global Stock Selection DM SMID ETF 2.0 75 -25 8.0 +0.3
DMXF iShares ESG Advanced MSCI EAFE ETF 1.9 12 38 5.5 -2.1
COPY Tweedy, Browne Insider + Value ETF 1.9 80 -30 12.6 +4.9
VEU Vanguard FTSE All-World ex-US Index Fund 1.9 8 42 8.4 +0.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.9 41 9 7.7 +0.1
EFG iShares MSCI EAFE Growth ETF 1.8 36 14 4.4 -3.2
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.8 80 -30 5.1 -2.6
JSTC Adasina Social Justice All Cap Global ETF 1.8 89 -39 4.5 -3.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.8 39 11 8.6 +0.9
FPXE First Trust IPOX Europe Equity Opportunities ETF 1.8 70 -20 4.9 -2.7
FIDI Fidelity International High Dividend ETF 1.8 18 32 9.2 +1.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.8 18 32 8.0 +0.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.7 47 3 8.6 +0.9
VXUS Vanguard Total International Stock ETF 1.7 7 43 8.2 +0.6
IXUS iShares Core MSCI Total International Stock ETF 1.7 7 43 8.2 +0.5
IMFL Invesco International Developed Dynamic Multifactor ETF 1.6 34 16 6.0 -1.7
VSGX Vanguard ESG International Stock ETF 1.6 12 38 8.0 +0.3
DFIC Dimensional International Core Equity 2 ETF 1.6 23 27 7.8 +0.2
TMFG Motley Fool Global Opportunities ETF 1.6 85 -35 3.8 -3.9
GCOW Pacer Global Cash Cows Dividend ETF 1.5 60 -10 11.1 +3.4
RXI iShares Global Consumer Discretionary ETF 1.5 41 9 8.9 +1.3
QWLD SPDR MSCI World StrategicFactors ETF 1.4 30 20 6.2 -1.5
AIVI WisdomTree International AI Enhanced Value Fund 1.4 58 -8 7.4 -0.2
AVDE Avantis International Equity ETF 1.4 23 27 7.9 +0.2
ESGG FlexShares STOXX Global ESG Select Index Fund 1.4 42 8 5.6 -2.1
VIDI Vident International Equity Strategy ETF 1.4 61 -11 11.3 +3.6
FDEV Fidelity International Multifactor ETF 1.4 18 32 7.7 -0.0
IPKW Invesco International BuyBack Achievers ETF 1.3 55 -5 14.5 +6.9
AVSD Avantis Responsible International Equity ETF 1.3 23 27 5.9 -1.8
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.3 75 -25 3.2 -4.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.3 30 20 8.4 +0.7
XT iShares Exponential Technologies ETF 1.2 46 4 5.6 -2.1
NXTG First Trust Indxx NextG ETF 1.2 70 -20 5.6 -2.1
UMMA Wahed Dow Jones Islamic World ETF 1.2 65 -15 5.3 -2.4
PBD Invesco Global Clean Energy ETF 1.1 75 -25 0.5 -7.2
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 40 6.0 -1.7
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.1 12 38 5.3 -2.4
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.1 24 26 7.7 +0.0
IXP iShares Global Comm Services ETF 1.1 42 8 6.3 -1.4
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 3 9.3 +1.6
BLES Inspire Global Hope ETF 1.0 61 -11 6.9 -0.8
CGGO Capital Group Global Growth Equity ETF 1.0 47 3 4.9 -2.8
WLDR Affinity World Leaders Equity ETF 1.0 67 -17 7.9 +0.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.9 20 30 5.9 -1.7
ISCF iShares International SmallCap Equity Factor ETF 0.9 23 27 8.7 +1.0
KOCG FIS Knights of Columbus Global Belief ETF 0.9 75 -25 5.1 -2.6
TOK iShares MSCI Kokusai ETF 0.9 26 24 5.3 -2.4
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.9 25 25 6.0 -1.7
SCHY Schwab International Dividend Equity ETF 0.8 14 36 9.7 +2.1
URTH iShares MSCI World ETF 0.8 24 26 5.4 -2.3
KOKU Xtrackers MSCI Kokusai Equity ETF 0.8 9 41 5.4 -2.3
GLOF iShares Global Equity Factor ETF 0.8 20 30 6.9 -0.8
KNCT Invesco Next Gen Connectivity ETF 0.8 40 10 5.2 -2.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.8 9 41 6.1 -1.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 0.8 58 -8 8.7 +1.0
ACWI iShares MSCI ACWI ETF 0.8 32 18 5.8 -1.8
EXI iShares Global Industrials ETF 0.7 42 8 4.6 -3.0
IOO iShares Global 100 ETF 0.7 41 9 5.2 -2.5
FOWF Pacer Solactive Whitney Fututre of Warfare ETF 0.7 60 -10 3.8 -3.9
VT Vanguard Total World Stock ETF 0.7 7 43 6.2 -1.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.6 33 17 10.5 +2.8
FILL iShares MSCI Global Energy Producers ETF 0.6 39 11 12.3 +4.6
IXC iShares Global Energy ETF 0.6 44 6 10.7 +3.0
DFIS Dimensional International Small Cap ETF 0.5 39 11 7.8 +0.1
DISV Dimensional International Small Cap Value ETF 0.5 42 8 9.8 +2.2
OGIG ALPS O'Shares Global Internet Giants ETF 0.4 48 2 1.6 -6.0
CGGR Capital Group Growth ETF 0.4 39 11 3.4 -4.3
LVHI Franklin International Low Volatility High Dividend Index ET 0.4 40 10 10.8 +3.2
GLBL Pacer MSCI World Industry Advantage ETF 0.4 65 -15 4.5 -3.2
DTAN Sparkline International Intangible Value ETF 0.4 55 -5 8.4 +0.7
GNR SPDR S&P Global Natural Resources ETF 0.4 40 10 11.7 +4.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.3 46 4 10.6 +3.0
RODE Hartford Multifactor Diversified International ETF 0.2 29 21 11.0 +3.4
IBUY Amplify Online Retail ETF 0.2 65 -15 3.0 -4.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.2 29 21 8.1 +0.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 29 4.0 -3.7
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 30 5.8 -1.9
CCNR ALPS CoreCommodity Natural Resources ETF 0.1 39 11 12.1 +4.4
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 11 6.2 -1.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 1 7.4 -0.2
IXJ iShares Global Healthcare ETF 0.0 42 8 7.2 -0.4
CZAR Themes Natural Monopoly ETF 0.0 35 15 5.6 -2.1

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 1.3 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.64 CATEGORY
AVERAGE		 1.61
 
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.