iShares MSCI Brazil Capped ETF
ALTAR
Score™
4.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
38.7x P/Sales
ratio
1.5x
P/BV
ratio
2.2x Div.
yield
1.9%


  • 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) $6,347
Currency USD
Expense ratio 59 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 55
Wgt avg mkt cap (mns) $20,652
Large cap (>$10bn) 47.9%
Mid cap ($2-10bn) 31.0%
Small cap (<$2bn) 2.6%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
VALE SA 15.6 %
ITAU UNIBANCO HOLDING SA 6.6 %
PETROBRAS - PETROLEO BRAS-PR 5.9 %
BM&FBOVESPA SA 5.5 %
BANCO BRADESCO SA-PREF 5.1 %
PETROBRAS - PETROLEO BRAS 4.7 %
WEG SA 3.7 %
MAGAZINE LUIZA SA 3.7 %
AMBEV-SA 3.4 %
SUZANO PAPEL E CELULOSE SA 2.6 %
Total 56.7 %

TOP COUNTRY EXPOSURE
BRAZIL 98.4 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.3% -20.3% 15.0% -4.7% 6.2%

Market Correlations
versus... Beta R-squared
S&P500 1.18 29%
MSCI EAFE 1.47 45%
MSCI Emg. Mkts. 1.38 51%

Technical Indicators
Recent close $35.98
30d moving avg. $36.98
Annualized volatility 40.9%
Short interest (ETF) 18.4%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 26,246
Turnover 14.9%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $3,825

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares MSCI Brazil Capped 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: 59 bp ALTAR Score™: 4.2%


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
(%)
DFAE Dimensional Emerging Core Equity Market ETF 90.6 35 24 6.9 +2.6
FLBR Franklin FTSE Brazil ETF 86.5 19 40 5.0 +0.8
FLLA Franklin FTSE Latin America ETF 58.2 19 40 6.1 +1.9
FBZ First Trust Brazil AlphaDEX Fund 39.9 80 -21 7.1 +2.9
FLN First Trust Latin America AlphaDEX Fund 35.8 80 -21 9.8 +5.6
ILF iShares Latin America 40 ETF 17.7 48 11 5.4 +1.1
BICK First Trust BICK Index Fund 15.2 64 -5 3.2 -1.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.1 39 20 11.5 +7.2
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF 8.9 44 15 8.1 +3.8
PXH Invesco FTSE RAFI Emerging Markets ETF 8.7 50 9 11.4 +7.1
DEM WisdomTree Emerging Markets High Dividend Fund 8.6 63 -4 12.8 +8.6
BKF iShares MSCI BRIC ETF 8.2 70 -11 6.1 +1.9
RNEM First Trust Emerging Markets Equity Select ETF 8.1 75 -16 10.1 +5.8
ISEM Invesco RAFI Strategic Emerging Markets ETF 8.1 35 24 8.7 +4.4
XCEM Columbia EM Core ex-China ETF 8.0 16 43 5.9 +1.6
EMXC iShares MSCI Emerging Markets ex China ETF 7.7 25 34 6.5 +2.2
PICK iShares MSCI Global Metals & Mining Producers ETF 7.6 39 20 5.4 +1.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 7.5 25 34 6.2 +2.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 5.9 45 14 6.3 +2.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 5.9 49 10 7.5 +3.3
FEM First Trust Emerging Markets AlphaDEX Fund 5.8 80 -21 10.3 +6.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 5.2 15 44 7.2 +3.0
EMXF iShares ESG Advanced MSCI EM ETF 5.1 16 43 7.1 +2.8
JHEM John Hancock Multifactor Emerging Markets ETF 5.0 49 10 7.3 +3.1
DVYE iShares Emerging Markets Dividend ETF 5.0 49 10 16.5 +12.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 4.8 45 14 11.9 +7.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 4.8 36 23 6.7 +2.5
LDEM iShares ESG MSCI EM Leaders ETF 4.7 16 43 6.3 +2.1
SCHE Schwab Emerging Markets Equity ETF 4.7 11 48 6.7 +2.4
EEM iShares MSCI Emerging Markets ETF 4.6 70 -11 5.9 +1.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 4.5 65 -6 5.9 +1.7
FDEM Fidelity Emerging Markets Multifactor ETF 4.3 45 14 7.7 +3.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 4.2 32 27 7.4 +3.2
IEMG iShares Core MSCI Emerging Markets ETF 4.1 11 48 6.5 +2.3
VWO Vanguard FTSE Emerging Markets ETF 4.1 10 49 6.9 +2.7
BKEM BNY Mellon Emerging Markets Equity ETF 4.1 11 48 6.6 +2.4
PIE Invesco DWA Emerging Markets Momentum ETF 4.0 90 -31 1.8 -2.4
ROAM Hartford Multifactor Emerging Markets ETF 3.9 44 15 11.4 +7.2
ESGE iShares ESG Aware MSCI EM ETF 3.8 25 34 6.9 +2.7
NUEM Nuveen ESG Emerging Markets Equity ETF 3.8 45 14 5.4 +1.1
WOOD iShares Global Timber & Forestry ETF 3.7 46 13 7.7 +3.5
CUT Invesco MSCI Global Timber ETF 3.7 61 -2 7.1 +2.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.6 30 29 6.3 +2.1
SDEM Global X MSCI SuperDividend Emerging Markets ETF 3.6 66 -7 16.3 +12.0
CEZ VictoryShares Emerging Market Volatility Wtd ETF 3.6 50 9 9.4 +5.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 3.6 20 39 5.4 +1.2
RESE WisdomTree Emerging Markets ESG Fund 3.3 32 27 6.6 +2.4
EMGF iShares MSCI Emerging Markets Multifactor ETF 3.3 45 14 8.5 +4.3
ECON Columbia Emerging Markets Consumer ETF 3.2 59 0 4.7 +0.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 3.2 32 27 5.0 +0.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.2 95 -36 7.0 +2.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.9 59 0 10.4 +6.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 2.9 46 13 5.0 +0.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.8 74 -15 9.7 +5.5
FILL iShares MSCI Global Energy Producers ETF 2.7 39 20 5.5 +1.2
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 2.7 51 8 18.5 +14.3
EEMO Invesco S&P Emerging Markets Momentum ETF 2.5 29 30 3.3 -1.0
EWEB Global X Emerging Markets Internet & E-commerce ETF 2.4 65 -6 2.5 -1.8
KMED KraneShares Emerging Markets Healthcare Index ETF 2.3 79 -20 2.1 -2.1
FPXI First Trust International Equity Opportunities ETF 2.3 70 -11 3.7 -0.6
BLES Inspire Global Hope Large Cap ETF 2.2 52 7 5.5 +1.3
SPEM SPDR Portfolio Emerging Markets ETF 2.1 11 48 6.5 +2.3
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.1 60 -1 8.7 +4.5
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 2.0 20 39 9.4 +5.1
VYMI Vanguard International High Dividend Yield ETF 1.9 27 32 8.9 +4.6
VIDI Vident International Equity Fund 1.8 59 0 9.6 +5.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.7 61 -2 7.7 +3.4
AVEM Avantis Emerging Markets Equity ETF 1.7 33 26 7.2 +3.0
SDIV Global X SuperDividend ETF 1.6 59 0 11.6 +7.4
EEMD AAM S&P Emerging Markets High Dividend Value ETF 1.5 50 9 16.0 +11.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.5 30 29 7.5 +3.2
IQDF FlexShares International Quality Dividend Index Fund 1.5 47 12 7.8 +3.6
ACWX iShares MSCI ACWI ex U.S. ETF 1.5 32 27 6.3 +2.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.5 47 12 8.0 +3.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.5 40 19 6.0 +1.8
BNE Blue Horizon BNE ETF 1.4 87 -28 0.9 -3.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.4 86 -27 2.1 -2.1
IXUS ishares Core MSCI Total International Stock ETF 1.3 9 50 6.4 +2.2
MOO VanEck Vectors Agribusiness ETF 1.2 56 3 4.5 +0.3
VSGX Vanguard ESG International Stock ETF 1.2 17 42 6.3 +2.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 1.2 16 43 5.9 +1.7
VXUS Vanguard Total International Stock ETF 1.0 8 51 6.5 +2.3
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 1.0 60 -1 2.3 -1.9
XBUY Amplify International Online Retail ETF 1.0 69 -10 0.5 -3.7
VEU Vanguard FTSE All-World ex-US Index Fund 1.0 8 51 6.6 +2.4
JIG JPMorgan International Growth ETF 1.0 55 4 2.5 -1.8
BTEK BlackRock Future Tech ETF 1.0 88 -29 -0.2 -4.4
EMIF iShares Emerging Markets Infrastructure ETF 0.9 60 -1 8.8 +4.5
DEW WisdomTree Global High Dividend Fund 0.9 58 1 8.7 +4.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.9 40 19 6.0 +1.8
PIO Invesco Global Water ETF 0.8 75 -16 3.4 -0.8
IQDE FlexShares International Quality Dividend Defensive Index ET 0.7 47 12 7.8 +3.5
GLIF AGFiQ Global Infrastructure ETF 0.6 45 14 4.8 +0.5
ACWI iShares MSCI ACWI ETF 0.6 32 27 5.0 +0.8
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.6 20 39 5.3 +1.1
IXG iShares Global Financials ETF 0.6 46 13 8.5 +4.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.6 20 39 5.3 +1.0
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 29 6.1 +1.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.6 58 1 5.0 +0.8
ACWF iShares MSCI Global Multifactor ETF 0.6 35 24 6.7 +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

  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 Brazil Capped 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 10.3 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 4.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.39
 
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.