iShares MSCI Brazil ETF
ALTAR
Score™		 13.5% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 8.4x P/Sales
ratio		 0.9x
P/BV
ratio		 1.2x Div.
yield		 5.6%


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

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jul 10, 2000
Assets (mns) $5,639
Currency USD
Expense ratio 58 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 44
Wgt avg mkt cap (mns) $23,188
Large cap (>$10bn) 66.2%
Mid cap ($2-10bn) 24.4%
Small cap (<$2bn) 0.0%
Developed mkts 9.8%
Emerging mkts 90.3%

TOP TEN HOLDINGS
NU HOLDINGS LTD. CLASS A 12.5 %
VALE SA 9.0 %
ITAU UNIBANCO HOLDING SA 8.8 %
PETROBRAS - PETROLEO BRAS-PR 6.2 %
PETROBRAS - PETROLEO BRAS 5.5 %
BANCO BRADESCO SA-PREF 3.8 %
BM&FBOVESPA SA 3.2 %
WEG SA 2.9 %
CIA SANEAMENTO BASICO DE SP 2.9 %
AMBEV-SA 2.9 %
Total 57.7 %

TOP COUNTRY EXPOSURE
BRAZIL 86.0 %
CAYMAN ISLANDS 12.6 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
37.7% 10.0% 9.7% 8.5% 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.92 24%
MSCI EAFE 0.74 20%
MSCI Emg. Mkts. 0.50 10%

Technical Indicators
Recent close $29.18
30d moving avg. $30.17
Annualized volatility 25.1%
Short interest (ETF) 28.1%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 27,898
Turnover 14.4%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $1,818

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 207 potential alternatives to the iShares MSCI Brazil ETF ETF based on the alternatives' overlap in portfolio holdings with EWZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWZ Expense: 58 bp ALTAR Score™: 13.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWZ
Ticker Fund
Name		 Overlap1
vs EWZ
(%)		 Expense
ratio
(bp)		 Savings
vs EWZ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWZ
(%)
FLBR Franklin FTSE Brazil ETF 76.5 19 39 14.9 +1.4
FLLA Franklin FTSE Latin America ETF 53.7 19 39 13.0 -0.5
BRAZ Global X Brazil Active ETF 27.7 75 -17 12.9 -0.6
ILF iShares Latin America 40 ETF 26.0 48 10 12.8 -0.7
FLN First Trust Latin America AlphaDEX Fund 25.6 80 -22 10.5 -3.0
DVYE iShares Emerging Markets Dividend ETF 13.8 49 9 19.1 +5.6
FTHF First Trust Emerging Markets Human Flourishing ETF 12.3 75 -17 7.8 -5.7
EMDM First Trust Bloomberg Emerging Market Democracies ETF 10.6 75 -17 8.8 -4.6
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 10.0 86 -28 0.5 -13.0
EMMF WisdomTree Emerging Markets Multifactor Fund 10.0 48 10 7.4 -6.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.9 39 19 16.1 +2.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 9.9 70 -12 13.1 -0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 9.5 44 14 10.6 -2.9
PXH Invesco FTSE RAFI Emerging Markets ETF 9.5 49 9 15.6 +2.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 8.8 29 29 9.3 -4.2
DEM WisdomTree Emerging Markets High Dividend Fund 8.7 63 -5 13.8 +0.3
ICLN iShares Global Clean Energy ETF 8.1 41 17 4.6 -8.9
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 8.0 88 -30 8.5 -5.0
BKF iShares MSCI BIC ETF 8.0 69 -11 13.5 +0.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.6 24 34 7.7 -5.8
GVAL Cambria Global Value ETF 6.5 68 -10 10.6 -2.9
FEM First Trust Emerging Markets AlphaDEX Fund 6.4 80 -22 11.3 -2.2
RNEM First Trust Emerging Markets Equity Select ETF 6.4 75 -17 7.8 -5.6
VCLN Virtus Duff & Phelps Clean Energy ETF 6.1 59 -1 4.3 -9.2
SDEM Global X MSCI SuperDividend Emerging Markets ETF 6.1 67 -9 14.0 +0.6
EMXC iShares MSCI Emerging Markets ex China ETF 6.0 25 33 7.4 -6.1
XCEM Columbia EM Core ex-China ETF 5.8 16 42 8.0 -5.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 5.7 86 -28 13.5 +0.0
EDIV SPDR S&P Emerging Markets Dividend ETF 5.4 49 9 12.1 -1.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.3 32 26 6.8 -6.7
STXE Strive Emerging Markets Ex-China ETF 5.1 32 26 7.5 -6.0
XCNY SPDR S&P Emerging Markets ex-China ETF 5.1 15 43 7.6 -5.9
UEVM VictoryShares Emerging Markets Value Momentum ETF 4.8 45 13 10.8 -2.7
EMXF iShares ESG Advanced MSCI EM ETF 4.8 16 42 8.4 -5.1
AOTG AOT Growth and Innovation ETF 4.7 75 -17 1.7 -11.8
FRDM Freedom 100 Emerging Markets ETF 4.4 49 9 8.0 -5.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 4.3 66 -8 9.2 -4.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 4.2 36 22 9.5 -4.0
BKEM BNY Mellon Emerging Markets Equity ETF 4.2 11 47 9.8 -3.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 4.2 20 38 10.0 -3.5
EEM iShares MSCI Emerging Markets ETF 4.1 69 -11 9.9 -3.6
FDEM Fidelity Emerging Markets Multifactor ETF 4.1 25 33 12.7 -0.8
ECON Columbia Emerging Markets Consumer ETF 4.1 49 9 11.9 -1.6
JHEM John Hancock Multifactor Emerging Markets ETF 4.1 49 9 9.9 -3.6
BPAY BlackRock Future Financial and Technology ETF 4.0 70 -12 8.0 -5.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 4.0 15 43 7.6 -5.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 3.9 45 13 10.0 -3.5
PICK iShares MSCI Global Metals & Mining Producers ETF 3.8 39 19 11.3 -2.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.7 30 28 10.0 -3.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 3.7 33 25 9.7 -3.8
SCHE Schwab Emerging Markets Equity ETF 3.6 11 47 10.7 -2.8
IEMG iShares Core MSCI Emerging Markets ETF 3.5 9 49 10.2 -3.3
LOUP Innovator Deepwater Frontier Tech ETF 3.5 70 -12 1.1 -12.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.4 60 -2 8.4 -5.0
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 3.4 15 43 10.0 -3.5
SDIV Global X Superdividend ETF 3.3 58 0 42.7 +29.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 3.3 35 23 17.6 +4.1
EMGF iShares Emerging Markets Equity Factor ETF 3.3 25 33 11.4 -2.1
CGXU Capital Group International Focus Equity ETF 3.3 54 4 5.4 -8.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.3 30 28 9.1 -4.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.3 95 -37 11.6 -1.9
ESGE iShares ESG Aware MSCI EM ETF 3.3 25 33 9.8 -3.7
ROAM Hartford Multifactor Emerging Markets ETF 3.2 44 14 12.0 -1.5
LDEM iShares ESG MSCI EM Leaders ETF 3.2 17 41 13.7 +0.2
RNRG Global X Renewable Energy Producers ETF 3.2 66 -8 1.2 -12.3
NUEM Nuveen ESG Emerging Markets Equity ETF 3.2 36 22 7.6 -5.8
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.2 46 12 9.8 -3.7
XC WisdomTree Emerging Markets Ex-China Fund 3.2 32 26 6.3 -7.2
VWO Vanguard FTSE Emerging Markets ETF 3.1 7 51 10.0 -3.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 3.1 50 8 11.0 -2.5
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 2.9 25 33 6.5 -6.9
AQWA Global X Clean Water ETF 2.9 50 8 5.1 -8.4
CGW Invesco S&P Global Water Index ETF 2.9 57 1 4.8 -8.7
PIO Invesco Global Water ETF 2.9 75 -17 4.3 -9.2
EFRA iShares Environmental Infrastructure and Industrials ETF 2.9 47 11 5.3 -8.2
EMC Global X Emerging Markets Great Consumer ETF 2.9 75 -17 10.9 -2.6
BITQ Bitwise Crypto Industry Innovators ETF 2.8 85 -27 -2.1 -15.5
MID American Century Mid Cap Growth Impact ETF 2.8 45 13 3.3 -10.2
BLOK Amplify Transformational Data Sharing ETF 2.8 75 -17 -0.4 -13.9
ICOP iShares Copper and Metals Mining ETF 2.7 47 11 7.0 -6.5
VIDI Vident International Equity Strategy ETF 2.7 61 -3 10.9 -2.6
DSTX Distillate International Fundamental Stability & Value ETF 2.7 55 3 7.7 -5.8
SPYA Twin Oak Endure ETF 2.6 80 -22 -2.1 -15.6
EEMO Invesco S&P Emerging Markets Momentum ETF 2.6 29 29 6.6 -6.8
EYLD Cambria Emerging Shareholder Yield ETF 2.6 66 -8 12.6 -0.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.5 59 -1 8.7 -4.7
CUT Invesco MSCI Global Timber ETF 2.5 61 -3 11.4 -2.1
WOOD iShares Global Timber & Forestry ETF 2.5 42 16 13.1 -0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.5 32 26 8.9 -4.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.5 42 16 7.1 -6.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.4 40 18 7.0 -6.5
BLLD JPMorgan Sustainable Infrastructure ETF 2.4 49 9 6.2 -7.3
MEM Matthews Emerging Markets Equity Active ETF 2.4 79 -21 7.6 -5.9
MOTI VanEck Morningstar International Moat ETF 2.3 58 0 11.9 -1.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.3 58 0 4.5 -9.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 2.3 90 -32 6.9 -6.6
FXO First Trust Financials AlphaDEX Fund 2.2 62 -4 8.4 -5.0
FILL iShares MSCI Global Energy Producers ETF 2.1 39 19 11.9 -1.6
DEHP Dimensional Emerging Markets High Profitability ETF 2.1 41 17 6.5 -6.9
DFAE Dimensional Emerging Core Equity Market ETF 2.0 35 23 9.1 -4.4
SPEM SPDR Portfolio Emerging Markets ETF 2.0 7 51 10.3 -3.2
SCHY Schwab International Dividend Equity ETF 1.9 14 44 9.9 -3.6
WWJD Inspire International ETF 1.9 80 -22 7.4 -6.1
MOTG VanEck Morningstar Global Wide Moat ETF 1.8 52 6 7.7 -5.7
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 1.8 80 -22 14.3 +0.9
AVXC Avantis Emerging Markets Ex-China Equity ETF 1.7 33 25 8.4 -5.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.7 41 17 8.6 -4.9
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 20 9.1 -4.4
VYMI Vanguard International High Dividend Yield ETF 1.7 17 41 9.7 -3.8
ARKF ARK Fintech Innovation ETF 1.6 75 -17 -0.4 -13.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.4 47 11 8.4 -5.1
DWX SPDR S&P International Dividend ETF 1.4 45 13 6.3 -7.2
DFEV Dimensional Emerging Markets Value ETF 1.4 43 15 13.2 -0.3
RODE Hartford Multifactor Diversified International ETF 1.4 29 29 11.5 -2.0
SFYF SoFi Social 50 ETF 1.4 29 29 0.4 -13.1
AVES Avantis Emerging Markets Value ETF 1.4 36 22 11.0 -2.5
IQDF FlexShares International Quality Dividend Index Fund 1.4 47 11 9.0 -4.5
DEW WisdomTree Global High Dividend Fund 1.3 58 0 8.5 -5.0
ACWX iShares MSCI ACWI ex U.S. ETF 1.3 34 24 7.6 -5.9
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.3 47 11 5.8 -7.6
ERTH Invesco MSCI Sustainable Future ETF 1.2 62 -4 3.6 -9.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.2 18 40 7.9 -5.6
AVSE Avantis Responsible Emerging Markets Equity ETF 1.2 33 25 8.2 -5.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.2 41 17 7.3 -6.2
FDFF Fidelity Disruptive Finance ETF 1.1 50 8 4.6 -8.9
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.1 53 5 7.7 -5.8
AVEM Avantis Emerging Markets Equity ETF 1.1 33 25 8.4 -5.1
IXUS iShares Core MSCI Total International Stock ETF 1.1 7 51 7.8 -5.7
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 1.1 60 -2 10.3 -3.2
JOET Virtus Terranova US Quality Momentum ETF 1.0 29 29 4.7 -8.8
BLES Inspire Global Hope ETF 1.0 61 -3 6.8 -6.6
MOO VanEck Agribusiness ETF 1.0 53 5 10.9 -2.6
JXI iShares Global Utilities ETF 0.9 43 15 5.5 -7.9
JSTC Adasina Social Justice All Cap Global ETF 0.9 89 -31 4.9 -8.6
IYF iShares U.S. Financials ETF 0.9 40 18 5.9 -7.5
FEOE First Eagle Overseas Equity ETF 0.9 79 -21 7.8 -5.7
VXUS Vanguard Total International Stock ETF 0.9 5 53 7.8 -5.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.8 4 54 8.0 -5.5
SUPL ProShares Supply Chain Logistics ETF 0.8 58 0 12.4 -1.1
JIG JPMorgan International Growth ETF 0.7 55 3 4.7 -8.8
VSGX Vanguard ESG International Stock ETF 0.7 10 48 7.6 -5.9
GLOF iShares Global Equity Factor ETF 0.6 20 38 6.4 -7.0
IXG iShares Global Financials ETF 0.6 42 16 6.7 -6.8
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 28 7.5 -6.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.6 30 28 7.8 -5.7
FEGE First Eagle Global Equity ETF 0.6 79 -21 6.8 -6.7
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 9 5.8 -7.7
GINN Goldman Sachs Innovate Equity ETF 0.6 52 6 3.5 -9.9
LRGF iShares U.S. Equity Factor ETF 0.5 8 50 5.4 -8.1
RCGE RockCreek Global Equality ETF 0.5 95 -37 6.8 -6.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.5 58 0 10.0 -3.5
EDOG ALPS Emerging Sector Dividend Dogs ETF 0.5 60 -2 10.8 -2.7
ACWI iShares MSCI ACWI ETF 0.4 32 26 5.5 -8.0
VEGI iShares MSCI Agriculture Producers ETF 0.4 39 19 9.2 -4.3
KLMT Invesco MSCI Global Climate 500 ETF 0.4 10 48 5.7 -7.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.4 20 38 5.6 -7.9
BUZZ VanEck Social Sentiment ETF 0.4 75 -17 -0.4 -13.9
VT Vanguard Total World Stock ETF 0.4 6 52 5.8 -7.7
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 46 5.1 -8.4
DGT SPDR Global Dow ETF 0.3 50 8 6.9 -6.6
SMLF iShares U.S. SmallCap Equity Factor ETF 0.3 15 43 5.9 -7.6
SHPP Pacer Industrials and Logistics ETF 0.3 60 -2 8.8 -4.7
OCEN IQ Clean Oceans ETF 0.3 45 13 6.1 -7.4
IGRO iShares International Dividend Growth ETF 0.3 15 43 7.3 -6.2
GGUS Marketbeta Russell 1000 Growth Equity ETF 0.2 12 46 4.5 -9.0
ACWV iShares MSCI Global Min Vol Factor ETF 0.2 20 38 6.2 -7.2
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.2 15 43 4.6 -8.9
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 0.2 68 -10 2.4 -11.1
CLNR IQ Cleaner Transport ETF 0.2 45 13 6.7 -6.8
IWY iShares Russell Top 200 Growth ETF 0.2 20 38 4.5 -9.0
EXI iShares Global Industrials ETF 0.2 42 16 4.5 -9.0
ONEY SPDR Russell 1000 Yield Focus ETF 0.2 20 38 9.9 -3.6
IWF iShares Russell 1000 Growth ETF 0.2 19 39 4.4 -9.1
VONG Vanguard Russell 1000 Growth ETF 0.2 7 51 4.4 -9.1
VFMO Vanguard U.S. Momentum Factor ETF 0.1 13 45 2.8 -10.7
EQAL Invesco Russell 1000 Equal Weight ETF 0.1 20 38 6.8 -6.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.1 39 19 5.3 -8.1
SMMD iShares Russell 2500 ETF 0.1 15 43 6.2 -7.3
ONEO SPDR Russell 1000 Momentum Focus ETF 0.1 20 38 7.2 -6.3
ESGV Vanguard ESG U.S. Stock ETF 0.1 9 49 4.7 -8.8
IXJ iShares Global Healthcare ETF 0.1 42 16 7.1 -6.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 49 5.6 -7.9
IWL iShares Russell Top 200 ETF 0.1 15 43 4.6 -8.9
IWB iShares Russell 1000 ETF 0.1 15 43 4.8 -8.7
VONE Vanguard Russell 1000 ETF 0.1 7 51 4.9 -8.6
RVRB Reverb ETF 0.1 30 28 4.5 -9.0
IWV iShares Russell 3000 ETF 0.1 20 38 4.7 -8.8
VTHR Vanguard Russell 3000 ETF 0.1 7 51 4.8 -8.7
ESGG FlexShares STOXX Global ESG Select Index Fund 0.1 42 16 5.4 -8.1
LQPE PEO AlphaQuest Thematic PE ETF 0.1 125 -67 5.3 -8.2
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.1 32 26 5.0 -8.5
VFMF Vanguard U.S. Multifactor ETF 0.1 18 40 8.1 -5.4
VFVA Vanguard U.S. Value Factor ETF 0.1 13 45 11.2 -2.3
IWS iShares Russell Mid-Cap Value ETF 0.1 23 35 6.9 -6.6
IUS Invesco RAFI Strategic US ETF 0.1 19 39 6.9 -6.6
IWR iShares Russell Midcap ETF 0.1 19 39 5.9 -7.6
AVUS Avantis U.S. Equity ETF 0.0 15 43 5.8 -7.7
VYM Vanguard High Dividend Yield Index ETF 0.0 6 52 7.1 -6.4
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 37 3.6 -9.9
GVUS Marketbeta Russell 1000 Value Equity ETF 0.0 12 46 6.6 -6.9
IWD iShares Russell 1000 Value ETF 0.0 19 39 6.5 -7.0
VONV Vanguard Russell 1000 Value ETF 0.0 7 51 6.6 -6.9
IWP iShares Russell Mid-Cap Growth ETF 0.0 23 35 3.5 -10.0
LCTU BlackRock U.S. Carbon Transition Readiness ETF 0.0 14 44 4.8 -8.6
DEUS Xtrackers Russell US Multifactor ETF 0.0 17 41 7.2 -6.3
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 19 6.8 -6.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 0.0 30 28 4.3 -9.2

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 Brazil ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.7 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 13.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 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.