iShares MSCI Taiwan ETF
ALTAR
Score™
5.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
17.8x P/Sales
ratio
1.0x
P/BV
ratio
1.9x Div.
yield
3.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Taiwan Index fund seeks investment results that correspond to the price and yield performance of the MSCI Taiwan Index. The index consists primarily of large cap stocks traded in the Taiwanese market.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jun 20, 2000
Assets (mns) $5,080
Currency USD
Expense ratio 59 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 88
Wgt avg mkt cap (mns) $113,371
Large cap (>$10bn) 59.1%
Mid cap ($2-10bn) 39.5%
Small cap (<$2bn) 1.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 23.6 %
MEDIATEK INC 4.7 %
HON HAI PRECISION INDUSTRY 4.5 %
UNITED MICROELECTRONICS CORP 2.3 %
DELTA ELECTRONICS INC 2.1 %
CHUNGHWA TELECOM CO., LTD 1.8 %
FORMOSA PLASTICS CORP 1.6 %
CHINATRUST FINANCIAL HOLDING 1.6 %
NAN YA PLASTICS CORP 1.5 %
CATHAY FINANCIAL HOLDING CO 1.5 %
Total 45.2 %

TOP COUNTRY EXPOSURE
TAIWAN 99.5 %










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.
20.3% 28.5% 16.0% 8.5% 3.7%

Market Correlations
versus... Beta R-squared
S&P500 0.78 55%
MSCI EAFE 0.80 56%
MSCI Emg. Mkts. 0.84 78%

Technical Indicators
Recent close $50.65
30d moving avg. $47.98
Annualized volatility 19.9%
Short interest (ETF) 7.6%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 3,920
Turnover 3.9%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $3,680

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares MSCI Taiwan ETF ETF based on the alternatives' overlap in portfolio holdings with EWT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWT Expense: 59 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWT
Ticker Fund
Name
Overlap1
vs EWT
(%)
Expense
ratio
(bp)
Savings
vs EWT
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWT
(%)
FLTW Franklin FTSE Taiwan ETF 89.7 19 40 5.9 +0.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 29.8 29 30 9.7 +4.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 23.4 49 10 7.0 +1.3
XCEM Columbia EM Core ex-China ETF 22.8 16 43 6.6 +0.9
EMXC iShares MSCI Emerging Markets ex China ETF 21.3 25 34 7.4 +1.7
DEM WisdomTree Emerging Markets High Dividend Fund 19.5 63 -4 13.3 +7.7
AIA iShares Asia 50 ETF 18.9 50 9 7.4 +1.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 18.9 39 20 12.3 +6.6
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 18.6 50 9 10.4 +4.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 18.1 20 39 6.4 +0.7
EMMF WisdomTree Emerging Markets Multifactor Fund 17.6 48 11 9.5 +3.8
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 16.9 32 27 8.3 +2.6
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 16.6 45 14 8.8 +3.1
PXH Invesco FTSE RAFI Emerging Markets ETF 16.4 50 9 12.7 +7.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 16.2 40 19 6.9 +1.2
DVEM WisdomTree Emerging Markets Dividend Fund 15.9 32 27 7.1 +1.4
EEMA iShares MSCI Emerging Markets Asia ETF 15.6 50 9 7.3 +1.6
EEMO Invesco S&P Emerging Markets Momentum ETF 15.2 29 30 4.2 -1.5
LDEM iShares ESG MSCI EM Leaders ETF 15.1 16 43 7.5 +1.8
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 15.1 45 14 7.1 +1.4
PIE Invesco DWA Emerging Markets Momentum ETF 14.7 90 -31 4.9 -0.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 14.6 49 10 8.8 +3.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 14.2 25 34 7.7 +2.0
PBEE Invesco PureBeta FTSE Emerging Markets ETF 14.1 15 44 8.2 +2.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 14.1 68 -9 6.7 +1.0
SCHE Schwab Emerging Markets Equity ETF 14.0 11 48 7.6 +1.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 13.9 30 29 8.3 +2.6
NUEM Nuveen ESG Emerging Markets Equity ETF 13.8 45 14 6.4 +0.7
JHEM John Hancock Multifactor Emerging Markets ETF 13.8 49 10 8.3 +2.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 13.8 30 29 7.3 +1.6
FLAX Franklin FTSE Asia Ex Japan ETF 13.6 19 40 7.3 +1.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 13.4 74 -15 12.7 +7.0
ESGE iShares ESG Aware MSCI EM ETF 13.2 25 34 8.1 +2.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 13.1 32 27 5.8 +0.1
FRDM Freedom 100 Emerging Markets ETF 12.9 49 10 5.9 +0.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 12.6 36 23 7.7 +2.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 12.6 65 -6 6.9 +1.2
EEM iShares MSCI Emerging Markets ETF 12.6 68 -9 7.0 +1.3
BKEM BNY Mellon Emerging Markets Equity ETF 12.0 11 48 8.0 +2.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.7 44 15 8.6 +3.0
IEMG iShares Core MSCI Emerging Markets ETF 11.2 13 46 7.5 +1.8
SPEM SPDR Portfolio Emerging Markets ETF 11.0 11 48 7.4 +1.7
GMF SPDR S&P Emerging Asia Pacific ETF 11.0 49 10 6.9 +1.2
VWO Vanguard FTSE Emerging Markets ETF 10.6 10 49 7.7 +2.0
ROAM Hartford Multifactor Emerging Markets ETF 10.5 44 15 12.6 +6.9
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 10.4 51 8 20.0 +14.3
RNEM Emerging Markets Equity Select ETF 10.4 75 -16 10.7 +5.0
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 10.3 45 14 13.7 +8.0
ISEM Invesco Strategic Emerging Markets ETF 10.3 35 24 10.3 +4.6
EDIV SPDR S&P Emerging Markets Dividend ETF 9.8 49 10 11.3 +5.6
FDEM Fidelity Targeted Emerging Markets Factor ETF 9.3 45 14 8.3 +2.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 8.8 95 -36 8.3 +2.6
WUGI Esoterica NextG Economy ETF 8.4 75 -16 1.3 -4.4
VYMI Vanguard International High Dividend Yield ETF 7.7 27 32 9.4 +3.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 7.4 58 1 5.5 -0.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.5 59 0 10.3 +4.6
FEM First Trust Emerging Markets AlphaDEX Fund 6.4 80 -21 12.3 +6.6
IQDF FlexShares International Quality Dividend Index Fund 6.1 47 12 8.3 +2.6
ECON Columbia Emerging Markets Consumer ETF 6.0 59 0 5.4 -0.3
AVEM Avantis Emerging Markets Equity ETF 5.7 33 26 8.3 +2.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 5.6 16 43 6.4 +0.7
VSGX Vanguard ESG International Stock ETF 4.9 17 42 6.7 +1.0
LVIN Hartford Multifactor Low Volatility International Equity ETF 4.6 29 30 11.1 +5.4
VIDI Vident International Equity Fund 4.5 59 0 10.5 +4.8
IQDE FlexShares International Quality Dividend Defensive Index Fd 4.5 47 12 8.3 +2.6
DWX SPDR S&P International Dividend ETF 4.5 45 14 7.5 +1.8
ACWV iShares Edge MSCI Min Vol Global ETF 4.3 20 39 5.6 -0.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 4.0 50 9 17.6 +11.9
IXN iShares Global Tech ETF 3.9 46 13 4.1 -1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.8 40 19 6.5 +0.8
ACWX iShares MSCI ACWI ex U.S. ETF 3.8 32 27 6.8 +1.1
NXTG First Trust Indxx NextG ETF 3.7 70 -11 5.6 -0.1
DVYE iShares Emerging Markets Dividend ETF 3.6 49 10 17.5 +11.8
IGRO iShares International Dividend Growth ETF 3.3 22 37 7.8 +2.1
IXUS ishares Core MSCI Total International Stock ETF 3.2 9 50 6.9 +1.2
DWCR Arrow DWA Country Rotation ETF 3.1 95 -36 5.6 -0.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 3.1 20 39 9.9 +4.2
VXUS Vanguard Total International Stock Index Fund 2.9 8 51 7.1 +1.4
ROBO Robo Global Robotics & Automation Index ETF 2.9 95 -36 2.8 -2.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.9 47 12 8.7 +3.0
SNSR Global X Internet of Things Thematic ETF 2.8 68 -9 4.4 -1.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.7 63 -4 11.8 +6.1
VEU Vanguard FTSE All-World ex-US Index Fund 2.6 8 51 7.0 +1.4
DEW WisdomTree Global High Dividend Fund 2.6 58 1 9.0 +3.3
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 2.5 80 -21 10.3 +4.6
QTUM Defiance Quantum ETF 2.3 40 19 4.9 -0.8
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 2.3 60 -1 4.7 -1.0
EYLD Cambria Emerging Shareholder Yield ETF 2.2 69 -10 12.5 +6.8
SDEM Global X SuperDividend Emerging Markets ETF 1.9 66 -7 17.0 +11.3
ACWF iShares FactorSelect MSCI Global ETF 1.7 35 24 7.5 +1.8
BFIT Global X Health & Wellness Thematic ETF 1.7 50 9 4.5 -1.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.6 20 39 5.6 -0.1
ACWI iShares MSCI ACWI ETF 1.6 32 27 5.4 -0.3
LOWC SPDR MSCI ACWI Low Carbon Target ETF 1.6 20 39 5.6 -0.1
CWI SPDR MSCI ACWI ex-US ETF 1.5 30 29 6.7 +1.0
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 1.4 25 34 3.4 -2.3
XT iShares Exponential Technologies ETF 1.3 47 12 4.7 -1.0
BTEK BlackRock Future Tech ETF 1.3 88 -29 0.1 -5.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.3 61 -2 8.4 +2.7
FTRI First Trust Indxx Global Natural Resources Income ETF 1.3 70 -11 8.1 +2.5

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

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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 Taiwan 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 11.3 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.40
 
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.