iShares MSCI Brazil ETF
ALTAR
Score™		 13.7% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.9x P/Sales
ratio		 0.8x
P/BV
ratio		 1.1x Div.
yield		 6.1%


  • 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) $4,311
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 43
Wgt avg mkt cap (mns) $23,752
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 9.5 %
ITAU UNIBANCO HOLDING SA 9.2 %
VALE SA 8.7 %
PETROBRAS - PETROLEO BRAS-PR 6.5 %
PETROBRAS - PETROLEO BRAS 5.7 %
BANCO BRADESCO SA-PREF 4.1 %
WEG SA 3.6 %
AMBEV-SA 3.4 %
BM&FBOVESPA SA 3.2 %
CIA SANEAMENTO BASICO DE SP 2.8 %
Total 56.7 %

TOP COUNTRY EXPOSURE
BRAZIL 87.4 %
CAYMAN ISLANDS 9.7 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.9% -0.6% 7.5% 3.2% 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.82 28%
MSCI EAFE 0.90 35%
MSCI Emg. Mkts. 0.70 21%

Technical Indicators
Recent close $27.21
30d moving avg. $27.21
Annualized volatility 26.3%
Short interest (ETF) 37.3%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 23,692
Turnover 15.0%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $1,818

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 204 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™: 13.7%


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 74.8 19 39 15.7 +2.0
FLLA Franklin FTSE Latin America ETF 49.4 19 39 13.4 -0.3
FBZ First Trust Brazil AlphaDEX Fund 35.4 80 -22 12.5 -1.3
BRAZ Global X Brazil Active ETF 27.7 75 -17 13.2 -0.5
FLN First Trust Latin America AlphaDEX Fund 26.9 80 -22 10.2 -3.5
ILF iShares Latin America 40 ETF 25.1 48 10 13.4 -0.3
DVYE iShares Emerging Markets Dividend ETF 15.0 49 9 18.7 +4.9
FTHF First Trust Emerging Markets Human Flourishing ETF 13.8 75 -17 8.9 -4.8
EMDM First Trust Bloomberg Emerging Market Democracies ETF 11.9 75 -17 10.3 -3.4
PXH Invesco FTSE RAFI Emerging Markets ETF 9.8 49 9 17.0 +3.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.8 39 19 17.2 +3.4
EMMF WisdomTree Emerging Markets Multifactor Fund 9.0 48 10 8.1 -5.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 9.0 70 -12 15.5 +1.8
DEM WisdomTree Emerging Markets High Dividend Fund 8.9 63 -5 13.6 -0.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 8.6 44 14 10.9 -2.8
ICLN iShares Global Clean Energy ETF 8.3 41 17 6.2 -7.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 8.3 29 29 8.6 -5.1
BKF iShares MSCI BIC ETF 8.1 69 -11 13.8 +0.1
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 8.0 86 -28 0.3 -13.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 7.4 88 -30 9.8 -3.9
SDEM Global X MSCI SuperDividend Emerging Markets ETF 7.3 67 -9 14.0 +0.3
GVAL Cambria Global Value ETF 7.0 68 -10 11.2 -2.5
FEM First Trust Emerging Markets AlphaDEX Fund 6.9 80 -22 12.0 -1.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.3 24 34 8.5 -5.2
EMXC iShares MSCI Emerging Markets ex China ETF 6.2 25 33 8.0 -5.8
RNEM First Trust Emerging Markets Equity Select ETF 6.0 75 -17 7.0 -6.7
STXE Strive Emerging Markets Ex-China ETF 5.5 32 26 8.0 -5.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 5.1 95 -37 13.3 -0.4
VCLN Virtus Duff & Phelps Clean Energy ETF 5.1 59 -1 5.9 -7.9
UEVM VictoryShares Emerging Markets Value Momentum ETF 5.0 45 13 10.8 -2.9
XCEM Columbia EM Core ex-China ETF 5.0 16 42 8.4 -5.3
XCNY SPDR S&P Emerging Markets ex-China ETF 5.0 15 43 7.7 -6.1
FRDM Freedom 100 Emerging Markets ETF 5.0 49 9 8.9 -4.8
EMXF iShares ESG Advanced MSCI EM ETF 4.6 16 42 8.6 -5.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 4.4 32 26 7.0 -6.8
EEM iShares MSCI Emerging Markets ETF 4.3 69 -11 10.8 -2.9
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 4.3 86 -28 14.1 +0.3
AOTG AOT Growth and Innovation ETF 4.2 75 -17 2.1 -11.6
EVLU iShares MSCI Emerging Markets Value Factor ETF 4.2 35 23 20.9 +7.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 4.2 90 -32 8.1 -5.6
PICK iShares MSCI Global Metals & Mining Producers ETF 4.0 39 19 14.1 +0.4
JHEM John Hancock Multifactor Emerging Markets ETF 3.9 49 9 10.7 -3.1
ECON Columbia Emerging Markets Consumer ETF 3.9 49 9 13.3 -0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 3.8 30 28 10.9 -2.8
SCHE Schwab Emerging Markets Equity ETF 3.8 11 47 11.8 -1.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 3.8 66 -8 10.5 -3.2
BKEM BNY Mellon Emerging Markets Equity ETF 3.7 11 47 10.6 -3.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 3.7 45 13 11.1 -2.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 3.7 36 22 10.4 -3.3
FDEM Fidelity Emerging Markets Multifactor ETF 3.7 25 33 13.6 -0.2
IEMG iShares Core MSCI Emerging Markets ETF 3.7 9 49 11.0 -2.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.6 60 -2 7.1 -6.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 3.6 20 38 10.8 -2.9
LDEM iShares ESG MSCI EM Leaders ETF 3.5 17 41 14.0 +0.3
CGXU Capital Group International Focus Equity ETF 3.5 54 4 5.8 -8.0
EMGF iShares Emerging Markets Equity Factor ETF 3.5 25 33 12.3 -1.4
VWO Vanguard FTSE Emerging Markets ETF 3.3 8 50 11.1 -2.6
ESGE iShares ESG Aware MSCI EM ETF 3.3 25 33 10.7 -3.0
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 3.3 15 43 8.6 -5.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 3.3 50 8 11.9 -1.8
IWTR iShares MSCI Water Management Multisector ETF 3.2 47 11 6.1 -7.7
ROAM Hartford Multifactor Emerging Markets ETF 3.1 44 14 12.3 -1.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 3.1 15 43 10.9 -2.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 3.1 33 25 10.7 -3.1
RNRG Global X Renewable Energy Producers ETF 3.0 66 -8 5.8 -7.9
EMC Global X Emerging Markets Great Consumer ETF 3.0 75 -17 8.4 -5.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 2.9 46 12 10.7 -3.1
BPAY BlackRock Future Financial and Technology ETF 2.9 70 -12 7.3 -6.4
CUT Invesco MSCI Global Timber ETF 2.9 61 -3 10.2 -3.5
WOOD iShares Global Timber & Forestry ETF 2.9 42 16 12.1 -1.6
NUEM Nuveen ESG Emerging Markets Equity ETF 2.9 36 22 8.2 -5.5
XC WisdomTree Emerging Markets Ex-China Fund 2.8 32 26 6.2 -7.6
AQWA Global X Clean Water ETF 2.8 50 8 5.0 -8.7
CGW Invesco S&P Global Water Index ETF 2.8 57 1 4.7 -9.1
PIO Invesco Global Water ETF 2.8 75 -17 4.9 -8.9
EFRA iShares Environmental Infrastructure and Industrials ETF 2.8 47 11 5.3 -8.4
BLOK Amplify Transformational Data Sharing ETF 2.8 75 -17 0.3 -13.4
SDIV Global X Superdividend ETF 2.8 58 0 42.4 +28.7
EEMO Invesco S&P Emerging Markets Momentum ETF 2.7 29 29 6.8 -6.9
ICOP iShares Copper and Metals Mining ETF 2.7 47 11 9.5 -4.2
MOTI VanEck Morningstar International Moat ETF 2.7 58 0 12.8 -0.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.7 42 16 6.8 -7.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.6 30 28 10.2 -3.5
LOUP Innovator Deepwater Frontier Tech ETF 2.6 70 -12 1.4 -12.3
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 2.5 58 0 5.0 -8.7
DEHP Dimensional Emerging Markets High Profitability ETF 2.4 41 17 7.2 -6.6
EYLD Cambria Emerging Shareholder Yield ETF 2.4 66 -8 13.0 -0.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.3 59 -1 12.3 -1.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.3 40 18 7.3 -6.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.3 32 26 9.7 -4.0
DFAE Dimensional Emerging Core Equity Market ETF 2.2 35 23 10.2 -3.5
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.2 60 -2 10.8 -2.9
FILL iShares MSCI Global Energy Producers ETF 2.2 39 19 12.7 -1.1
MEM Matthews Emerging Markets Equity Active ETF 2.1 79 -21 8.5 -5.3
SPEM SPDR Portfolio Emerging Markets ETF 2.1 7 51 11.0 -2.7
BITQ Bitwise Crypto Industry Innovators ETF 2.0 85 -27 -2.7 -16.4
WWJD Inspire International ETF 2.0 80 -22 7.3 -6.4
SCHY Schwab International Dividend Equity ETF 1.9 14 44 9.6 -4.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.9 38 20 10.0 -3.8
VIDI Vident International Equity Strategy ETF 1.8 61 -3 11.2 -2.5
VYMI Vanguard International High Dividend Yield ETF 1.8 22 36 9.8 -3.9
BLLD JPMorgan Sustainable Infrastructure ETF 1.8 49 9 6.2 -7.6
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 1.7 80 -22 15.1 +1.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.7 41 17 9.5 -4.2
AVES Avantis Emerging Markets Value ETF 1.5 36 22 12.0 -1.8
DSTX Distillate International Fundamental Stability & Value ETF 1.5 55 3 8.3 -5.4
SFYF SoFi Social 50 ETF 1.5 29 29 0.2 -13.5
DFEV Dimensional Emerging Markets Value ETF 1.5 43 15 14.1 +0.4
IQDF FlexShares International Quality Dividend Index Fund 1.5 47 11 9.3 -4.5
ARKF ARK Fintech Innovation ETF 1.4 75 -17 -0.4 -14.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.4 47 11 8.5 -5.2
ERTH Invesco MSCI Sustainable Future ETF 1.4 62 -4 3.6 -10.1
CGV Conductor Global Equity Value ETF 1.4 130 -72 9.1 -4.6
RODE Hartford Multifactor Diversified International ETF 1.3 29 29 11.0 -2.8
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF 1.3 68 -10 0.3 -13.4
IWP iShares Russell Mid-Cap Growth ETF 1.3 23 35 3.5 -10.2
DEW WisdomTree Global High Dividend Fund 1.3 58 0 8.8 -4.9
FXO First Trust Financials AlphaDEX Fund 1.3 62 -4 8.7 -5.0
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.3 25 33 6.5 -7.2
ACWX iShares MSCI ACWI ex U.S. ETF 1.3 34 24 7.9 -5.8
MOO VanEck Agribusiness ETF 1.2 53 5 10.6 -3.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 1.1 18 40 8.0 -5.8
MOTG VanEck Morningstar Global Wide Moat ETF 1.1 52 6 6.8 -6.9
IXUS iShares Core MSCI Total International Stock ETF 1.1 7 51 8.1 -5.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.0 41 17 7.8 -6.0
EDIV SPDR S&P Emerging Markets Dividend ETF 1.0 49 9 11.9 -1.8
BLES Inspire Global Hope ETF 1.0 61 -3 7.0 -6.7
FEOE First Eagle Overseas Equity ETF 1.0 79 -21 8.3 -5.4
AVEM Avantis Emerging Markets Equity ETF 1.0 33 25 9.5 -4.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.0 47 11 5.7 -8.0
VXUS Vanguard Total International Stock ETF 0.9 7 51 8.2 -5.5
SUPL ProShares Supply Chain Logistics ETF 0.9 58 0 11.0 -2.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.9 8 50 8.3 -5.4
JXI iShares Global Utilities ETF 0.9 43 15 5.9 -7.9
IYF iShares U.S. Financials ETF 0.8 40 18 6.2 -7.5
FDFF Fidelity Disruptive Finance ETF 0.8 50 8 4.1 -9.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.8 60 -2 12.7 -1.0
JOET Virtus Terranova US Quality Momentum ETF 0.7 29 29 4.9 -8.9
JSTC Adasina Social Justice All Cap Global ETF 0.7 89 -31 4.5 -9.2
GLOF iShares Global Equity Factor ETF 0.7 20 38 6.9 -6.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.7 30 28 8.3 -5.4
FEGE First Eagle Global Equity ETF 0.7 79 -21 7.2 -6.5
VSGX Vanguard ESG International Stock ETF 0.7 12 46 8.0 -5.8
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 28 7.9 -5.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 9 6.4 -7.3
IXG iShares Global Financials ETF 0.6 42 16 6.8 -6.9
JIG JPMorgan International Growth ETF 0.5 55 3 4.7 -9.0
LRGF iShares U.S. Equity Factor ETF 0.5 8 50 5.8 -7.9
ACWI iShares MSCI ACWI ETF 0.5 32 26 5.9 -7.9
GINN Goldman Sachs Innovate Equity ETF 0.4 52 6 4.2 -9.5
KLMT Invesco MSCI Global Climate 500 ETF 0.4 10 48 6.0 -7.7
RCGE RockCreek Global Equality ETF 0.4 95 -37 6.4 -7.3
IWR iShares Russell Midcap ETF 0.4 19 39 6.1 -7.6
VEGI iShares MSCI Agriculture Producers ETF 0.4 39 19 8.7 -5.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.4 20 38 6.0 -7.7
VT Vanguard Total World Stock ETF 0.4 7 51 6.2 -7.5
DGT SPDR Global Dow ETF 0.4 50 8 7.4 -6.3
SMLF iShares U.S. SmallCap Equity Factor ETF 0.4 15 43 6.7 -7.0
SHPP Pacer Industrials and Logistics ETF 0.3 60 -2 8.4 -5.3
IGRO iShares International Dividend Growth ETF 0.3 15 43 7.1 -6.6
BUZZ VanEck Social Sentiment ETF 0.3 75 -17 -0.2 -14.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 46 5.3 -8.4
ONEY SPDR Russell 1000 Yield Focus ETF 0.3 20 38 10.0 -3.8
OCEN IQ Clean Oceans ETF 0.3 45 13 6.6 -7.1
CLNR IQ Cleaner Transport ETF 0.2 45 13 6.9 -6.8
EXI iShares Global Industrials ETF 0.2 42 16 4.6 -9.1
IPKW Invesco International BuyBack Achievers ETF 0.2 55 3 14.5 +0.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 0 9.9 -3.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.2 39 19 6.9 -6.9
GGUS Marketbeta Russell 1000 Growth Equity ETF 0.2 12 46 4.7 -9.1
EQAL Invesco Russell 1000 Equal Weight ETF 0.2 20 38 7.3 -6.5
JCTR JPMorgan Carbon Transition U.S. Equity ETF 0.2 15 43 4.9 -8.8
IWF iShares Russell 1000 Growth ETF 0.1 19 39 4.6 -9.1
VONG Vanguard Russell 1000 Growth ETF 0.1 8 50 4.7 -9.0
SMMD iShares Russell 2500 ETF 0.1 15 43 6.8 -7.0
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 23 5.4 -8.3
IXJ iShares Global Healthcare ETF 0.1 42 16 7.2 -6.5
ESGV Vanguard ESG U.S. Stock ETF 0.1 9 49 5.0 -8.7
VFMO Vanguard U.S. Momentum Factor ETF 0.1 13 45 3.2 -10.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 49 6.1 -7.6
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 38 5.8 -7.9
RVRB Reverb ETF 0.1 30 28 4.9 -8.9
IWB iShares Russell 1000 ETF 0.1 15 43 5.2 -8.6
VONE Vanguard Russell 1000 ETF 0.1 8 50 5.2 -8.5
IWV iShares Russell 3000 ETF 0.1 20 38 5.1 -8.7
VTHR Vanguard Russell 3000 ETF 0.1 10 48 5.2 -8.6
IWS iShares Russell Mid-Cap Value ETF 0.1 23 35 7.1 -6.6
ONEO SPDR Russell 1000 Momentum Focus ETF 0.1 20 38 7.2 -6.5
ESGG FlexShares STOXX Global ESG Select Index Fund 0.1 42 16 5.6 -8.1
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.1 32 26 5.2 -8.6
VFMF Vanguard U.S. Multifactor ETF 0.1 18 40 8.4 -5.3
VFVA Vanguard U.S. Value Factor ETF 0.1 13 45 11.9 -1.8
VYM Vanguard High Dividend Yield Index ETF 0.0 6 52 7.5 -6.3
AVUS Avantis U.S. Equity ETF 0.0 15 43 6.2 -7.6
IUS Invesco RAFI Strategic US ETF 0.0 19 39 7.0 -6.7
IWD iShares Russell 1000 Value ETF 0.0 19 39 6.7 -7.0
VONV Vanguard Russell 1000 Value ETF 0.0 8 50 6.8 -6.9
LCTU BlackRock U.S. Carbon Transition Readiness ETF 0.0 14 44 5.2 -8.5
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 37 4.1 -9.7
GVUS Marketbeta Russell 1000 Value Equity ETF 0.0 12 46 6.8 -6.9
DEUS Xtrackers Russell US Multifactor ETF 0.0 17 41 7.1 -6.6
PRF Invesco FTSE RAFI US 1000 ETF 0.0 39 19 7.2 -6.5
DYNF BlackRock U.S. Equity Factor Rotation ETF 0.0 30 28 4.8 -9.0
VIGI Vanguard International Dividend Appreciation ETF 0.0 15 43 6.1 -7.6

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 15.6 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 13.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 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.