iShares MSCI Taiwan ETF
ALTAR
Score™
6.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.8x P/Sales
ratio
0.9x
P/BV
ratio
1.6x Div.
yield
3.9%


  • 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) $3,498
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 89
Wgt avg mkt cap (mns) $64,066
Large cap (>$10bn) 57.8%
Mid cap ($2-10bn) 37.9%
Small cap (<$2bn) 4.3%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 21.9 %
HON HAI PRECISION INDUSTRY 5.3 %
MEDIATEK INC 3.8 %
CHUNGHWA TELECOM CO., LTD 2.3 %
LARGAN PRECISION CO LTD 2.1 %
CHINATRUST FINANCIAL HOLDING 2.0 %
FORMOSA PLASTICS CORP 2.0 %
UNI-PRESIDENT ENTERPRISES CO 2.0 %
MEGA FINANCIAL HOLDING CO LT 1.9 %
CATHAY FINANCIAL HOLDING CO 1.9 %
Total 45.1 %

TOP COUNTRY EXPOSURE
TAIWAN 98.9 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.6% 15.2% 5.5% 7.7% 2.3%

Market Correlations
versus... Beta R-squared
S&P500 0.81 55%
MSCI EAFE 0.88 57%
MSCI Emg. Mkts. 0.81 73%

Technical Indicators
Recent close $37.82
30d moving avg. $36.63
Annualized volatility 18.4%
Short interest (ETF) 6.7%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 4,408
Turnover 4.8%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $3,330

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™: 6.6%


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 88.7 19 40 6.9 +0.3
EELV Invesco S&P Emerging Markets Low Volatility ETF 29.1 29 30 10.1 +3.5
XCEM Columbia EM Core ex-China ETF 22.5 16 43 8.1 +1.6
DEM WisdomTree Emerging Markets High Dividend Fund 21.9 63 -4 14.5 +7.9
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 21.8 49 10 8.6 +2.1
EEMO Invesco S&P Emerging Markets Momentum ETF 21.4 30 29 7.4 +0.8
EMXC iShares MSCI Emerging Markets ex China ETF 20.0 49 10 8.7 +2.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 19.9 39 20 13.5 +7.0
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 18.7 50 9 10.2 +3.6
AIA iShares Asia 50 ETF 18.4 50 9 9.3 +2.7
AXJL WisdomTree Asia Pacific ex-Japan Fund 17.3 48 11 10.0 +3.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 17.1 20 39 7.9 +1.4
DVEM WisdomTree Emerging Markets Dividend Fund 16.6 32 27 9.4 +2.8
PIE Invesco DWA Emerging Markets Momentum ETF 16.4 90 -31 5.8 -0.8
EEMA iShares MSCI Emerging Markets Asia ETF 16.1 50 9 8.7 +2.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 15.9 25 34 8.6 +2.1
EMMF WisdomTree Emerging Markets Multifactor Fund 15.7 48 11 10.0 +3.5
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 15.5 45 14 10.3 +3.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 15.3 45 14 9.0 +2.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 15.0 49 10 9.3 +2.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 14.9 30 29 9.7 +3.1
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 14.9 45 14 13.9 +7.3
JHEM John Hancock Multifactor Emerging Markets ETF 14.7 55 4 9.2 +2.6
FRDM Freedom 100 Emerging Markets ETF 14.5 49 10 7.7 +1.1
PXH Invesco FTSE RAFI Emerging Markets ETF 14.3 50 9 14.1 +7.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 14.1 70 -11 13.4 +6.8
EDIV SPDR S&P Emerging Markets Dividend ETF 14.0 49 10 11.9 +5.4
ESGE iShares ESG MSCI EM ETF 13.9 25 34 10.0 +3.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 13.8 68 -9 8.2 +1.7
ISEM Invesco Strategic Emerging Markets ETF 13.8 35 24 10.7 +4.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 13.7 30 29 9.1 +2.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 13.5 40 19 8.1 +1.5
SCHE Schwab Emerging Markets Equity ETF 13.5 13 46 9.0 +2.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 13.4 14 45 9.8 +3.3
FLAX Franklin FTSE Asia Ex Japan ETF 13.4 19 40 8.8 +2.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 13.3 45 14 9.2 +2.7
NUEM Nuveen ESG Emerging Markets Equity ETF 13.2 45 14 8.1 +1.5
GMF SPDR S&P Emerging Asia Pacific ETF 12.7 49 10 8.2 +1.6
RNEM Emerging Markets Equity Select ETF 12.5 75 -16 10.8 +4.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 12.5 32 27 9.8 +3.3
EMCG WisdomTree Emerging Markets Consumer Growth Fund 12.4 32 27 7.9 +1.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 12.3 32 27 7.0 +0.5
EEM iShares MSCI Emerging Markets ETF 12.2 68 -9 8.6 +2.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 12.1 65 -6 8.6 +2.0
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 11.2 64 -5 5.4 -1.1
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 11.2 51 8 13.8 +7.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 10.9 95 -36 10.5 +3.9
SPEM SPDR Portfolio Emerging Markets ETF 10.9 11 48 8.9 +2.3
IEMG iShares Core MSCI Emerging Markets ETF 10.9 14 45 9.0 +2.4
VWO Vanguard FTSE Emerging Markets ETF 10.7 10 49 9.1 +2.5
ROAM Hartford Multifactor Emerging Markets ETF 9.9 44 15 15.5 +8.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 9.7 45 14 10.0 +3.5
ECON Columbia Emerging Markets Consumer ETF 7.3 59 0 5.1 -1.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 7.1 59 0 11.5 +4.9
FEM First Trust Emerging Markets AlphaDEX Fund 7.0 80 -21 12.0 +5.5
DWCR Arrow DWA Country Rotation ETF 6.7 95 -36 18.0 +11.4
VYMI Vanguard International High Dividend Yield ETF 6.5 32 27 10.6 +4.0
AVEM Avantis Emerging Markets Equity ETF 6.3 33 26 9.9 +3.3
DVYE iShares Emerging Markets Dividend ETF 6.0 49 10 13.4 +6.8
IQDF FlexShares International Quality Dividend Index Fund 5.9 47 12 13.4 +6.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 5.8 63 -4 13.6 +7.0
IQDE FlexShares International Quality Dividend Defensive Index Fd 4.7 47 12 13.1 +6.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 4.6 16 43 7.3 +0.8
ACWV iShares Edge MSCI Min Vol Global ETF 4.4 20 39 5.9 -0.7
EEMD AAM S&P Emerging Markets High Dividend Value ETF 4.1 50 9 21.6 +15.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 3.7 20 39 11.3 +4.7
NXTG First Trust Indxx NextG ETF 3.5 70 -11 6.2 -0.4
VSGX Vanguard ESG International Stock ETF 3.5 17 42 7.6 +1.0
SDEM Global X SuperDividend Emerging Markets ETF 3.4 67 -8 23.6 +17.0
ACWX iShares MSCI ACWI ex U.S. ETF 3.4 32 27 7.7 +1.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.3 40 19 7.6 +1.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.3 47 12 14.0 +7.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 3.1 29 30 12.6 +6.1
IXN iShares Global Tech ETF 3.0 46 13 4.9 -1.7
IGRO iShares International Dividend Growth ETF 3.0 22 37 8.3 +1.8
VXUS Vanguard Total International Stock Index Fund 2.9 8 51 7.9 +1.4
DNL WisdomTree Global ex-US Dividend Growth Fund 2.9 58 1 8.0 +1.5
IXUS ishares Core MSCI Total International Stock ETF 2.8 9 50 7.8 +1.2
VIDI Vident International Equity Fund 2.6 59 0 11.8 +5.3
ROBO Robo Global Robotics & Automation Index ETF 2.6 95 -36 3.4 -3.1
EWX SPDR S&P Emerging Markets Small Cap ETF 2.5 65 -6 7.1 +0.5
VGFO Virtus WMC Global Factor Opportunities ETF 2.4 49 10 6.2 -0.4
DEW WisdomTree Global High Dividend Fund 2.4 58 1 9.4 +2.8
EYLD Cambria Emerging Shareholder Yield ETF 2.3 66 -7 17.1 +10.6
VEU Vanguard FTSE All-World ex-US Index Fund 2.3 8 51 8.0 +1.4
SNSR Global X Internet of Things Thematic ETF 2.3 68 -9 4.8 -1.8
QTUM Defiance Quantum ETF 2.3 40 19 5.6 -1.0
MXI iShares Global Materials ETF 1.9 46 13 6.3 -0.3
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 1.9 25 34 2.4 -4.2
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 1.6 80 -21 20.2 +13.6
BFIT Global X Health & Wellness Thematic ETF 1.6 50 9 5.0 -1.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.6 60 -1 8.8 +2.3
CWI SPDR MSCI ACWI ex-US ETF 1.5 30 29 7.9 +1.3
LOWC SPDR MSCI ACWI Low Carbon Target ETF 1.4 20 39 6.5 -0.0
ACWI iShares MSCI ACWI ETF 1.4 32 27 6.2 -0.4
DWX SPDR S&P International Dividend ETF 1.4 45 14 8.1 +1.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.4 20 39 6.5 -0.1
PICK iShares MSCI Global Metals & Mining Producers ETF 1.3 39 20 7.8 +1.3
GAMR ETFMG Video Game Tech ETF 1.3 75 -16 3.5 -3.1
ACWF iShares FactorSelect MSCI Global ETF 1.3 35 24 8.2 +1.7

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 11.2 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 CATEGORY
AVERAGE
1.45
 
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.