iShares MSCI United Kingdom
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
13.2x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
4.8%


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

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 18, 1996
Assets (mns) $2,438
Currency USD
Expense ratio 47 bp
Distributions Semi-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 99
Wgt avg mkt cap (mns) $82,605
Large cap (>$10bn) 87.6%
Mid cap ($2-10bn) 12.3%
Small cap (<$2bn) 0.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
HSBC HOLDINGS PLC 6.6 %
BP PLC 5.6 %
ROYAL DUTCH SHELL PLC-A SHS 5.6 %
ASTRAZENECA PLC 5.2 %
ROYAL DUTCH SHELL PLC-B SHS 4.8 %
GLAXOSMITHKLINE PLC 4.7 %
DIAGEO PLC 4.0 %
BRITISH AMERICAN TOBACCO PLC 3.6 %
UNILEVER PLC 2.8 %
RIO TINTO PLC 2.6 %
Total 45.6 %

TOP COUNTRY EXPOSURE
BRITAIN 95.0 %
SWITZERLAND 1.8 %
IRELAND 1.6 %
GERMANY 0.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
13.6% 7.1% 1.0% 4.5% 5.0%

Market Correlations
versus... Beta R-squared
S&P500 0.72 52%
MSCI EAFE 1.00 86%
MSCI Emg. Mkts. 0.65 61%

Technical Indicators
Recent close $32.60
30d moving avg. $31.86
Annualized volatility 11.9%
Short interest (ETF) 2.7%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 3,973
Turnover 5.3%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $5,566

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EWU Expense: 47 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWU
Ticker Fund
Name
Overlap1
vs EWU
(%)
Expense
ratio
(bp)
Savings
vs EWU
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWU
(%)
QGBR SPDR MSCI UK Quality Mix 94.0 14 33 7.8 +0.4
FLGB Franklin FTSE United Kingdom 92.4 9 38 7.8 +0.5
FKU First Trust United Kingdom 31.3 80 -33 7.7 +0.3
OEUR O'Shares FTSE Europe Quality Dividend 29.2 48 -1 6.3 -1.0
IEV iShares S&P Europe 350 25.9 59 -12 6.4 -1.0
BBEU JPMorgan BetaBuilders Europe 24.8 9 38 6.9 -0.5
DBEU Xtrackers Europe Hedged 24.7 45 2 6.4 -1.0
FLEE Franklin FTSE Europe 24.5 9 38 6.8 -0.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 24.5 30 17 6.6 -0.8
FLEH Franklin FTSE Europe Hedged 24.3 9 38 6.8 -0.6
GSEU Goldman Sachs ActiveBeta Europe Equity 23.6 25 22 6.4 -1.0
HDEF Xtrackers MSCI EAFE High Div Yld Hedged 23.4 20 27 8.5 +1.1
IEUR iShares Core MSCI Europe 22.2 9 38 6.8 -0.5
VGK Vanguard FTSE Europe 21.7 9 38 6.9 -0.5
EFV iShares MSCI EAFE Value 21.7 38 9 8.9 +1.5
FEU SPDR DJ Stoxx 50 20.5 9 38 6.8 -0.6
DTH WisdomTree DEFA Equity Income 20.2 58 -11 8.4 +1.1
RIDV Invesco International Ultra Dividend Revenue ETF 20.1 42 5 8.9 +1.6
RFEU First Trust Riverfront Dynamic Europe 19.7 83 -36 6.1 -1.3
EUFN iShares MSCI Europe Financial Sector 19.6 48 -1 8.8 +1.5

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 United Kingdom
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 11.9 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 CATEGORY
AVERAGE
1.63
 
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.