iShares MSCI France ETF
ALTAR
Score™
6.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
14.0x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI France Index fund seeks investment results that correspond to the price and yield performance of the MSCI French Index. The index consists primarily of large cap stocks traded on the French Stock Exchange.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 18, 1996
Assets (mns) $835
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 77
Wgt avg mkt cap (mns) $74,768
Large cap (>$10bn) 92.4%
Mid cap ($2-10bn) 6.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LVMH MOET HENNESSY LOUIS VUI 7.3 %
TOTAL SA 6.9 %
SANOFI-AVENTIS 6.8 %
EADS NV 4.9 %
L'OREAL 4.4 %
AIR LIQUIDE SA 4.3 %
BNP PARIBAS 3.9 %
SCHNEIDER ELECTRIC SA 3.6 %
VINCI SA 3.5 %
SAFRAN SA 3.0 %
Total 48.6 %

TOP COUNTRY EXPOSURE
FRANCE 91.1 %
NETHERLANDS 6.1 %
LUXEMBOURG 1.3 %
SWITZERLAND 1.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.0% 14.4% 7.3% 5.6% 6.3%

Market Correlations
versus... Beta R-squared
S&P500 0.85 54%
MSCI EAFE 1.21 90%
MSCI Emg. Mkts. 0.78 64%

Technical Indicators
Recent close $29.18
30d moving avg. $32.05
Annualized volatility 14.0%
Short interest (ETF) 6.7%
Relative strength (RSI) 31

Liquidity measures
Avg. volume (thou.) 610
Turnover 2.1%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $4,135

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI France ETF ETF based on the alternatives' overlap in portfolio holdings with EWQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWQ Expense: 50 bp ALTAR Score™: 6.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWQ
Ticker Fund
Name
Overlap1
vs EWQ
(%)
Expense
ratio
(bp)
Savings
vs EWQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWQ
(%)
FLFR Franklin FTSE France ETF 95.8 9 41 7.1 +0.4
FEZ SPDR EURO STOXX 50 ETF 38.5 29 21 7.5 +0.8
EZU iShares MSCI Eurozone ETF 35.1 49 1 7.0 +0.3
EURZ Xtrackers Eurozone Equity ETF 34.7 9 41 7.3 +0.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 30.2 45 5 6.8 +0.1
HEDJ WisdomTree Europe Hedged Equity Fund 27.9 58 -8 8.1 +1.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 18.6 25 25 7.0 +0.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 17.3 45 5 7.0 +0.3
IEV iShares Europe ETF 17.2 59 -9 7.1 +0.5
BBEU JPMorgan BetaBuilders Europe ETF 17.1 9 41 7.6 +0.9
FLEE Franklin FTSE Europe ETF 16.8 9 41 7.3 +0.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 16.7 30 20 7.1 +0.4
FLEH Franklin FTSE Europe Hedged ETF 16.4 9 41 7.3 +0.6
EUDG WisdomTree Europe Quality Dividend Growth Fund 16.3 58 -8 6.8 +0.1
IEUR iShares Core MSCI Europe ETF 15.5 9 41 7.6 +0.9
FEU SPDR Portfolio Europe ETF 15.2 9 41 7.6 +0.9
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 14.6 20 30 9.3 +2.6
FEUZ First Trust Eurozone AlphaDEX ETF 14.5 80 -30 7.5 +0.8
SCID Global X Scientific Beta Europe ETF 14.4 38 12 7.0 +0.4
VGK Vanguard FTSE Europe ETF 14.4 8 42 7.7 +1.0

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%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 France ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.9 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 6.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.