iShares MSCI Mexico ETF
ALTAR
Score™		 10.4% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 10.8x P/Sales
ratio		 1.1x
P/BV
ratio		 1.6x Div.
yield		 3.4%


  • 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) $1,827
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) $16,206
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 11.3 %
GRUPO MEXICO S.A.B. DE C.V. CLASS 8.7 %
FOMENTO ECONOMICO MEXICANO SAB DE 8.5 %
WALMART DE MEXICO-SER V 8.4 %
AMERICA MOVIL B 7.3 %
GRUPO AEROPORTUARIO DEL-B SH 4.5 %
CEMEX SAB-CPO 4.4 %
GRUPO AEROPORTUARIO DE SUR-B 3.1 %
EMBOTELLADORAS ARCA SAB-NOM 3.1 %
INDUSTRIAS PENOLES SAB DE CV 3.0 %
Total 62.4 %

TOP COUNTRY EXPOSURE
MEXICO 91.2 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
31.7% 8.9% 16.4% 2.9% 8.4%

Market Correlations
versus... Beta R-squared
S&P500 0.75 26%
MSCI EAFE 0.85 35%
MSCI Emg. Mkts. 0.60 18%

Technical Indicators
Recent close $60.29
30d moving avg. $59.80
Annualized volatility 23.6%
Short interest (ETF) 12.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1,566
Turnover 5.2%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 147 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™: 10.4%


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 73.3 19 31 10.8 +0.4
FLLA Franklin FTSE Latin America ETF 24.4 19 31 13.8 +3.4
ILF iShares Latin America 40 ETF 22.5 48 2 13.3 +3.0
FLN First Trust Latin America AlphaDEX Fund 18.6 80 -30 10.7 +0.3
EMDM First Trust Bloomberg Emerging Market Democracies ETF 11.6 75 -25 9.9 -0.5
FTHF First Trust Emerging Markets Human Flourishing ETF 9.6 75 -25 8.6 -1.8
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 8.5 85 -35 9.9 -0.5
ICOP iShares Copper and Metals Mining ETF 8.3 47 3 8.9 -1.5
GMET VanEck Green Metals ETF 6.7 63 -13 9.3 -1.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 6.1 44 6 11.0 +0.6
EDIV SPDR S&P Emerging Markets Dividend ETF 5.0 49 1 11.9 +1.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.0 70 -20 14.6 +4.3
EDOG ALPS Emerging Sector Dividend Dogs ETF 4.8 60 -10 11.0 +0.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 4.7 32 18 6.9 -3.5
DMAT Global X Disruptive Materials ETF 4.3 59 -9 9.4 -1.0
FEM First Trust Emerging Markets AlphaDEX Fund 4.1 80 -30 12.2 +1.9
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 3.7 90 -40 7.7 -2.7
BATT Amplify Lithium & Battery Technology ETF 3.6 59 -9 3.7 -6.7
XCEM Columbia EM Core ex-China ETF 3.6 16 34 8.1 -2.2
BINV Brandes International ETF 3.6 70 -20 9.6 -0.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.3 58 -8 9.7 -0.6
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 3.3 80 -30 14.5 +4.1
RNEM First Trust Emerging Markets Equity Select ETF 3.2 75 -25 7.0 -3.4
GDXJ VanEck Junior Gold Miners ETF 3.0 52 -2 5.8 -4.6
SIL Global X Silver Miners ETF 3.0 65 -15 3.7 -6.7
SLVP iShares MSCI Global Silver Miners ETF 3.0 39 11 8.3 -2.1
SILJ ETFMG Prime Junior Silver Miners ETF 3.0 69 -19 3.0 -7.4
AGMI Themes Silver Miners ETF 3.0 35 15 6.6 -3.8
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.0 60 -10 7.1 -3.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 3.0 24 26 8.2 -2.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 3.0 39 11 16.2 +5.9
DSTX Distillate International Fundamental Stability & Value ETF 3.0 55 -5 8.1 -2.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.8 29 21 8.8 -1.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.8 59 -9 11.8 +1.4
STXE Strive Emerging Markets Ex-China ETF 2.8 32 18 7.8 -2.5
EMM Global X Emerging Markets ex-China ETF 2.7 75 -25 6.0 -4.4
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 2.6 33 17 10.1 -0.2
EYLD Cambria Emerging Shareholder Yield ETF 2.5 66 -16 12.4 +2.0
XCNY SPDR S&P Emerging Markets ex-China ETF 2.5 15 35 7.7 -2.7
EMXC iShares MSCI Emerging Markets ex China ETF 2.5 25 25 7.7 -2.7
XC WisdomTree Emerging Markets Ex-China Fund 2.4 32 18 6.1 -4.3
LDEM iShares ESG MSCI EM Leaders ETF 2.4 17 33 13.2 +2.8
EMC Global X Emerging Markets Great Consumer ETF 2.2 75 -25 8.8 -1.5
RWX SPDR Dow Jones International Real Estate ETF 2.2 59 -9 7.1 -3.3
PXH Invesco FTSE RAFI Emerging Markets ETF 2.1 49 1 16.0 +5.6
EVLU iShares MSCI Emerging Markets Value Factor ETF 2.1 35 15 19.2 +8.9
DEM WisdomTree Emerging Markets High Dividend Fund 2.1 63 -13 13.2 +2.8
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.0 33 17 8.7 -1.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.0 32 18 9.3 -1.0
EMMF WisdomTree Emerging Markets Multifactor Fund 1.9 48 2 7.8 -2.5
PICK iShares MSCI Global Metals & Mining Producers ETF 1.9 39 11 13.4 +3.1
SCHE Schwab Emerging Markets Equity ETF 1.9 11 39 11.2 +0.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.9 15 35 8.2 -2.2
VWO Vanguard FTSE Emerging Markets ETF 1.9 7 43 10.6 +0.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.8 30 20 10.4 +0.0
EMXF iShares ESG Advanced MSCI EM ETF 1.8 16 34 8.4 -1.9
EEM iShares MSCI Emerging Markets ETF 1.8 69 -19 10.3 -0.0
NUEM Nuveen ESG Emerging Markets Equity ETF 1.8 36 14 7.8 -2.5
ECON Columbia Emerging Markets Consumer ETF 1.8 49 1 12.4 +2.1
IEMG iShares Core MSCI Emerging Markets ETF 1.7 9 41 10.5 +0.2
ESGE iShares ESG Aware MSCI EM ETF 1.7 25 25 10.1 -0.2
JHEM John Hancock Multifactor Emerging Markets ETF 1.7 49 1 10.5 +0.1
IQRA IQ CBRE Real Assets ETF 1.7 65 -15 5.8 -4.6
SPEM SPDR Portfolio Emerging Markets ETF 1.6 7 43 10.6 +0.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.6 66 -16 9.9 -0.5
FDEM Fidelity Emerging Markets Multifactor ETF 1.6 25 25 12.9 +2.6
AVES Avantis Emerging Markets Value ETF 1.6 36 14 11.6 +1.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.6 15 35 10.4 +0.0
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.5 53 -3 7.7 -2.6
BKEM BNY Mellon Emerging Markets Equity ETF 1.5 11 39 10.2 -0.2
AVEM Avantis Emerging Markets Equity ETF 1.5 33 17 9.2 -1.2
EMGF iShares Emerging Markets Equity Factor ETF 1.5 25 25 11.9 +1.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.5 36 14 9.9 -0.5
FRDM Freedom 100 Emerging Markets ETF 1.4 49 1 8.8 -1.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.4 30 20 9.9 -0.5
VIDI Vident International Equity Strategy ETF 1.4 61 -11 11.3 +0.9
DFEV Dimensional Emerging Markets Value ETF 1.4 43 7 13.2 +2.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.3 45 5 10.5 +0.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.3 41 9 8.9 -1.5
MXI iShares Global Materials ETF 1.2 41 9 7.8 -2.6
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.2 42 8 9.9 -0.5
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.2 10 40 8.2 -2.2
DVYE iShares Emerging Markets Dividend ETF 1.2 49 1 18.8 +8.4
DFAE Dimensional Emerging Core Equity Market ETF 1.2 35 15 9.5 -0.9
CCNR ALPS CoreCommodity Natural Resources ETF 1.2 39 11 11.4 +1.0
CGV Conductor Global Equity Value ETF 1.2 130 -80 8.7 -1.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.2 20 30 10.8 +0.4
KXI iShares Global Consumer Staples ETF 1.1 41 9 5.6 -4.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.1 70 -20 7.7 -2.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.1 38 12 9.4 -0.9
AVSE Avantis Responsible Emerging Markets Equity ETF 1.1 33 17 8.6 -1.7
ROAM Hartford Multifactor Emerging Markets ETF 1.1 44 6 12.0 +1.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.1 12 38 8.0 -2.4
WWJD Inspire International ETF 1.0 80 -30 7.2 -3.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.0 50 0 11.4 +1.0
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 5 10.8 +0.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -38 9.3 -1.0
DEHP Dimensional Emerging Markets High Profitability ETF 0.9 41 9 6.9 -3.5
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.9 42 8 6.6 -3.7
VYMI Vanguard International High Dividend Yield ETF 0.8 17 33 9.8 -0.6
BLDG Cambria Global Real Estate ETF 0.8 60 -10 12.0 +1.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.8 47 3 5.8 -4.6
SDG iShares MSCI Global Sustainable Development Goals ETF 0.8 49 1 6.2 -4.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 3 8.5 -1.9
IQDF FlexShares International Quality Dividend Index Fund 0.8 47 3 9.2 -1.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.7 65 -15 8.1 -2.2
HAP VanEck Natural Resources ETF 0.7 50 0 9.6 -0.8
RWO SPDR Dow Jones Global Real Estate ETF 0.7 50 0 7.1 -3.2
MEM Matthews Emerging Markets Equity Active ETF 0.6 79 -29 8.0 -2.3
VSGX Vanguard ESG International Stock ETF 0.6 10 40 7.9 -2.5
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.6 46 4 10.3 -0.1
REET iShares Global REIT ETF 0.6 14 36 7.7 -2.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.5 4 46 8.2 -2.2
BLES Inspire Global Hope ETF 0.5 61 -11 6.7 -3.6
ACWX iShares MSCI ACWI ex U.S. ETF 0.5 34 16 7.8 -2.5
RCGE RockCreek Global Equality ETF 0.5 95 -45 6.3 -4.1
DEW WisdomTree Global High Dividend Fund 0.5 58 -8 8.6 -1.8
VXUS Vanguard Total International Stock ETF 0.5 5 45 8.0 -2.4
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 43 8.0 -2.4
JETS U.S. Global Jets ETF 0.5 60 -10 2.5 -7.8
CWI SPDR MSCI ACWI ex-US ETF 0.5 30 20 7.8 -2.6
DFGR Dimensional Global Real Estate ETF 0.5 22 28 7.5 -2.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.5 95 -45 12.8 +2.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.5 18 32 7.8 -2.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 9 7.7 -2.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 20 8.1 -2.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 38 5.2 -5.1
AVRE Avantis Real Estate ETF 0.4 17 33 7.2 -3.2
VGSR Vert Global Sustainable Real Estate ETF 0.4 47 3 7.4 -3.0
SCHY Schwab International Dividend Equity ETF 0.3 14 36 9.6 -0.8
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -20 8.2 -2.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 30 5.8 -4.6
CGGR Capital Group Growth ETF 0.3 39 11 3.2 -7.1
EEMO Invesco S&P Emerging Markets Momentum ETF 0.3 29 21 6.5 -3.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 41 5.9 -4.5
FPAG FPA Global Equity ETF 0.2 49 1 5.7 -4.6
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.6 -4.7
VT Vanguard Total World Stock ETF 0.2 6 44 6.0 -4.4
IXG iShares Global Financials ETF 0.2 42 8 6.7 -3.7
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 8 42 6.8 -3.6
CGW Invesco S&P Global Water Index ETF 0.1 57 -7 4.6 -5.8
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 40 5.9 -4.5
GLOF iShares Global Equity Factor ETF 0.1 20 30 6.7 -3.7
IPKW Invesco International BuyBack Achievers ETF 0.1 55 -5 13.5 +3.1
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -39 4.8 -5.6
EXI iShares Global Industrials ETF 0.0 42 8 4.5 -5.9
IGRO iShares International Dividend Growth ETF 0.0 15 35 7.2 -3.2

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 1.5 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 10.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.63 CATEGORY
AVERAGE		 1.50
 
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.