iShares MSCI Mexico ETF
ALTAR
Score™		 9.7% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 11.6x P/Sales
ratio		 1.1x
P/BV
ratio		 1.7x Div.
yield		 3.2%


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

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 12, 1996
Assets (mns) $1,912
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 41
Wgt avg mkt cap (mns) $16,711
Large cap (>$10bn) 53.3%
Mid cap ($2-10bn) 38.0%
Small cap (<$2bn) 8.7%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
GRUPO FINANCIERO BANORTE-O 11.2 %
GRUPO MEXICO S.A.B. DE C.V. CLASS 9.9 %
AMERICA MOVIL B 8.1 %
WALMART DE MEXICO-SER V 7.3 %
FOMENTO ECONOMICO MEXICANO SAB DE 6.8 %
CEMEX SAB-CPO 4.9 %
GRUPO AEROPORTUARIO DEL-B SH 4.5 %
INDUSTRIAS PENOLES SAB DE CV 4.1 %
GRUPO AEROPORTUARIO DE SUR-B 3.3 %
EMBOTELLADORAS ARCA SAB-NOM 2.9 %
Total 62.9 %

TOP COUNTRY EXPOSURE
MEXICO 90.7 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
34.7% 18.9% 16.2% 3.9% 8.4%

Market Correlations
versus... Beta R-squared
S&P500 0.80 28%
MSCI EAFE 0.80 32%
MSCI Emg. Mkts. 0.58 18%

Technical Indicators
Recent close $65.71
30d moving avg. $61.46
Annualized volatility 23.0%
Short interest (ETF) 7.0%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 1,270
Turnover 4.4%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 148 potential alternatives to the iShares MSCI Mexico ETF ETF based on the alternatives' overlap in portfolio holdings with EWW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWW Expense: 50 bp ALTAR Score™: 9.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWW
Ticker Fund
Name		 Overlap1
vs EWW
(%)		 Expense
ratio
(bp)		 Savings
vs EWW
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWW
(%)
FLMX Franklin FTSE Mexico ETF 76.1 19 31 10.0 +0.3
FLLA Franklin FTSE Latin America ETF 29.3 19 31 12.6 +2.9
ILF iShares Latin America 40 ETF 22.1 48 2 12.5 +2.9
FLN First Trust Latin America AlphaDEX Fund 19.2 80 -30 10.0 +0.4
EMDM First Trust Bloomberg Emerging Market Democracies ETF 11.1 75 -25 9.3 -0.4
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 9.9 85 -35 8.7 -1.0
FTHF First Trust Emerging Markets Human Flourishing ETF 8.9 75 -25 8.2 -1.5
ICOP iShares Copper and Metals Mining ETF 8.5 47 3 8.0 -1.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 7.2 44 6 10.5 +0.8
GMET VanEck Green Metals ETF 6.6 63 -13 8.6 -1.1
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 6.1 90 -40 6.7 -3.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.6 32 18 6.9 -2.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.5 70 -20 13.1 +3.4
EDOG ALPS Emerging Sector Dividend Dogs ETF 4.8 60 -10 10.5 +0.8
BINV Brandes International ETF 4.4 70 -20 9.2 -0.5
EDIV SPDR S&P Emerging Markets Dividend ETF 4.3 49 1 11.8 +2.1
XCEM Columbia EM Core ex-China ETF 4.3 16 34 8.2 -1.5
DSTX Distillate International Fundamental Stability & Value ETF 4.2 55 -5 7.7 -2.0
FEM First Trust Emerging Markets AlphaDEX Fund 4.2 80 -30 11.0 +1.3
SIL Global X Silver Miners ETF 4.1 65 -15 2.7 -7.0
SLVP iShares MSCI Global Silver Miners ETF 4.1 39 11 5.9 -3.8
AGMI Themes Silver Miners ETF 4.1 35 15 4.8 -4.9
BATT Amplify Lithium & Battery Technology ETF 3.8 59 -9 3.5 -6.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.8 58 -8 9.6 -0.1
DMAT Global X Disruptive Materials ETF 3.7 59 -9 7.4 -2.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 3.7 24 26 7.9 -1.8
GDXJ VanEck Junior Gold Miners ETF 3.5 52 -2 4.0 -5.7
RNEM First Trust Emerging Markets Equity Select ETF 3.3 75 -25 7.6 -2.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.1 59 -9 8.7 -1.0
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.1 60 -10 8.1 -1.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 3.1 33 17 9.8 +0.1
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 3.1 80 -30 13.7 +4.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 3.0 39 11 15.9 +6.2
XC WisdomTree Emerging Markets Ex-China Fund 2.9 32 18 6.3 -3.4
EYLD Cambria Emerging Shareholder Yield ETF 2.9 66 -16 12.1 +2.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.9 29 21 9.2 -0.5
STXE Strive Emerging Markets Ex-China ETF 2.8 32 18 7.7 -2.0
DEM WisdomTree Emerging Markets High Dividend Fund 2.7 63 -13 13.1 +3.4
XCNY SPDR S&P Emerging Markets ex-China ETF 2.6 15 35 7.7 -2.0
EMXC iShares MSCI Emerging Markets ex China ETF 2.6 25 25 7.6 -2.1
EMM Global X Emerging Markets ex-China ETF 2.5 75 -25 6.4 -3.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.4 32 18 9.0 -0.7
EVLU iShares MSCI Emerging Markets Value Factor ETF 2.4 35 15 17.8 +8.1
LDEM iShares ESG MSCI EM Leaders ETF 2.4 17 33 13.6 +3.9
RWX SPDR Dow Jones International Real Estate ETF 2.2 59 -9 6.8 -2.9
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 2.2 15 35 7.7 -2.0
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.2 33 17 8.5 -1.2
EMMF WisdomTree Emerging Markets Multifactor Fund 2.2 48 2 7.3 -2.4
NUEM Nuveen ESG Emerging Markets Equity ETF 2.2 36 14 7.8 -1.9
PXH Invesco FTSE RAFI Emerging Markets ETF 2.2 49 1 15.3 +5.6
IQRA IQ CBRE Real Assets ETF 2.2 65 -15 5.7 -4.0
ECON Columbia Emerging Markets Consumer ETF 2.2 49 1 12.1 +2.5
JHEM John Hancock Multifactor Emerging Markets ETF 2.1 49 1 10.0 +0.3
EMC Global X Emerging Markets Great Consumer ETF 2.1 75 -25 10.8 +1.1
FDEM Fidelity Emerging Markets Multifactor ETF 2.0 25 25 12.5 +2.8
AVES Avantis Emerging Markets Value ETF 2.0 36 14 10.8 +1.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.9 66 -16 9.4 -0.3
PICK iShares MSCI Global Metals & Mining Producers ETF 1.9 39 11 12.3 +2.6
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.9 67 -17 13.5 +3.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.9 15 35 10.0 +0.3
SCHE Schwab Emerging Markets Equity ETF 1.9 11 39 10.8 +1.1
BKEM BNY Mellon Emerging Markets Equity ETF 1.9 11 39 9.8 +0.1
VWO Vanguard FTSE Emerging Markets ETF 1.9 7 43 10.0 +0.3
AVEM Avantis Emerging Markets Equity ETF 1.9 33 17 8.5 -1.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.8 36 14 9.6 -0.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.8 30 20 10.2 +0.5
EMXF iShares ESG Advanced MSCI EM ETF 1.8 16 34 8.4 -1.3
EEM iShares MSCI Emerging Markets ETF 1.8 69 -19 10.1 +0.4
SPEM SPDR Portfolio Emerging Markets ETF 1.7 7 43 10.4 +0.7
ESGE iShares ESG Aware MSCI EM ETF 1.7 25 25 10.0 +0.3
IEMG iShares Core MSCI Emerging Markets ETF 1.7 9 41 10.3 +0.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.6 45 5 10.1 +0.4
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.6 53 -3 7.8 -1.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.5 20 30 10.5 +0.8
FRDM Freedom 100 Emerging Markets ETF 1.5 49 1 8.2 -1.5
VIDI Vident International Equity Strategy ETF 1.5 61 -11 10.7 +1.0
DFEV Dimensional Emerging Markets Value ETF 1.5 43 7 13.0 +3.3
MXI iShares Global Materials ETF 1.4 41 9 7.4 -2.3
EMGF iShares Emerging Markets Equity Factor ETF 1.4 25 25 11.5 +1.8
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.4 10 40 7.9 -1.8
ROAM Hartford Multifactor Emerging Markets ETF 1.4 44 6 11.9 +2.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.4 30 20 9.0 -0.7
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.3 42 8 9.5 -0.2
WWJD Inspire International ETF 1.3 80 -30 7.2 -2.5
CGV Conductor Global Equity Value ETF 1.3 130 -80 8.0 -1.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.3 41 9 8.5 -1.2
DVYE iShares Emerging Markets Dividend ETF 1.2 49 1 18.2 +8.5
DFAE Dimensional Emerging Core Equity Market ETF 1.2 35 15 9.1 -0.6
AVSE Avantis Responsible Emerging Markets Equity ETF 1.2 33 17 8.3 -1.4
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.1 45 5 10.6 +0.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 50 0 10.8 +1.1
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.1 12 38 8.0 -1.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.1 42 8 7.1 -2.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.1 38 12 9.0 -0.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.0 47 3 5.8 -3.9
KXI iShares Global Consumer Staples ETF 1.0 41 9 5.5 -4.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.0 70 -20 7.6 -2.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.0 47 3 8.2 -1.5
IQDF FlexShares International Quality Dividend Index Fund 1.0 47 3 8.8 -0.9
SDG iShares MSCI Global Sustainable Development Goals ETF 0.9 49 1 5.7 -4.0
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -38 8.6 -1.1
DEHP Dimensional Emerging Markets High Profitability ETF 0.8 41 9 6.6 -3.1
VYMI Vanguard International High Dividend Yield ETF 0.8 17 33 9.4 -0.3
MEM Matthews Emerging Markets Equity Active ETF 0.8 79 -29 7.6 -2.1
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.8 46 4 9.7 +0.0
BLDG Cambria Global Real Estate ETF 0.8 60 -10 11.4 +1.7
HAP VanEck Natural Resources ETF 0.7 50 0 9.3 -0.4
EWX SPDR S&P Emerging Markets Small Cap ETF 0.7 65 -15 7.7 -2.0
SILJ ETFMG Prime Junior Silver Miners ETF 0.7 69 -19 2.2 -7.5
RWO SPDR Dow Jones Global Real Estate ETF 0.7 50 0 6.9 -2.8
BLES Inspire Global Hope ETF 0.7 61 -11 6.7 -3.0
VSGX Vanguard ESG International Stock ETF 0.6 10 40 7.5 -2.2
DEW WisdomTree Global High Dividend Fund 0.6 58 -8 8.3 -1.4
REET iShares Global REIT ETF 0.6 14 36 7.3 -2.4
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.6 18 32 7.7 -2.0
ACWX iShares MSCI ACWI ex U.S. ETF 0.5 34 16 7.6 -2.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.5 41 9 7.4 -2.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.5 4 46 8.0 -1.7
VXUS Vanguard Total International Stock ETF 0.5 5 45 7.8 -1.9
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 43 7.8 -1.9
DFGR Dimensional Global Real Estate ETF 0.5 22 28 7.4 -2.3
CWI SPDR MSCI ACWI ex-US ETF 0.5 30 20 7.5 -2.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.5 95 -45 11.5 +1.8
JETS U.S. Global Jets ETF 0.5 60 -10 2.6 -7.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 20 7.7 -2.0
RCGE RockCreek Global Equality ETF 0.5 95 -45 6.6 -3.1
AVRE Avantis Real Estate ETF 0.4 17 33 7.1 -2.6
CGGR Capital Group Growth ETF 0.4 39 11 3.1 -6.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 38 5.1 -4.6
CCNR ALPS CoreCommodity Natural Resources ETF 0.4 39 11 10.7 +1.0
VGSR Vert Global Sustainable Real Estate ETF 0.4 47 3 7.3 -2.4
SCHY Schwab International Dividend Equity ETF 0.3 14 36 9.6 -0.1
EEMO Invesco S&P Emerging Markets Momentum ETF 0.3 29 21 6.4 -3.3
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -20 8.3 -1.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 30 5.6 -4.1
FPAG FPA Global Equity ETF 0.3 49 1 5.7 -4.0
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -5 12.3 +2.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 41 5.6 -4.1
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.5 -4.2
VT Vanguard Total World Stock ETF 0.2 6 44 5.8 -3.9
IXG iShares Global Financials ETF 0.2 42 8 6.5 -3.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 42 6.0 -3.7
CGW Invesco S&P Global Water Index ETF 0.1 57 -7 4.6 -5.1
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 40 5.6 -4.1
GLOF iShares Global Equity Factor ETF 0.1 20 30 6.4 -3.3
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -39 4.8 -4.9
EXI iShares Global Industrials ETF 0.0 42 8 4.5 -5.2
IGRO iShares International Dividend Growth ETF 0.0 15 35 7.2 -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

  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 Mexico 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 16.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 9.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.64 CATEGORY
AVERAGE		 1.51
 
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.