iShares MSCI Brazil Capped ETF
ALTAR
Score™
5.3% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
27.3x P/Sales
ratio
1.5x
P/BV
ratio
1.7x Div.
yield
2.7%


  • 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 14, 2000
Assets (mns) $4,923
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 56
Wgt avg mkt cap (mns) $14,975
Large cap (>$10bn) 49.7%
Mid cap ($2-10bn) 34.8%
Small cap (<$2bn) 3.2%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
VALE SA 10.7 %
ITAU UNIBANCO HOLDING SA 7.2 %
BM&FBOVESPA SA 5.6 %
BANCO BRADESCO SA-PREF 5.4 %
PETROBRAS - PETROLEO BRAS-PR 5.4 %
PETROBRAS - PETROLEO BRAS 4.8 %
AMBEV-SA 3.6 %
MAGAZINE LUIZA SA 3.4 %
WEG SA 2.6 %
ITAUSA-INVESTIMENTOS ITAU-PR 2.3 %
Total 50.8 %

TOP COUNTRY EXPOSURE
BRAZIL 96.9 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-42.7% -33.0% -0.9% -5.5% 4.7%

Market Correlations
versus... Beta R-squared
S&P500 1.06 23%
MSCI EAFE 1.50 40%
MSCI Emg. Mkts. 1.29 45%

Technical Indicators
Recent close $27.50
30d moving avg. $24.22
Annualized volatility 37.2%
Short interest (ETF) 17.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 29,388
Turnover 16.4%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $3,011

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™: 5.3%


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 85.5 19 40 6.0 +0.6
FLLA Franklin FTSE Latin America ETF 57.5 19 40 7.5 +2.2
FBZ First Trust Brazil AlphaDEX Fund 38.8 80 -21 6.2 +0.9
FLN First Trust Latin America AlphaDEX Fund 32.9 80 -21 8.7 +3.3
ILF iShares Latin America 40 ETF 12.5 48 11 7.9 +2.6
BICK First Trust BICK Index Fund 11.8 64 -5 4.7 -0.7
XCEM Columbia EM Core ex-China ETF 9.4 16 43 8.1 +2.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 9.4 45 14 9.2 +3.9
BKF iShares MSCI BRIC ETF 9.0 69 -10 8.7 +3.4
EEMO Invesco S&P Emerging Markets Momentum ETF 8.5 30 29 7.4 +2.1
PXH Invesco FTSE RAFI Emerging Markets ETF 8.3 50 9 14.1 +8.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 8.3 49 10 8.6 +3.3
RNEM Emerging Markets Equity Select ETF 8.2 75 -16 10.8 +5.5
EMXC iShares MSCI Emerging Markets ex China ETF 8.2 49 10 8.7 +3.4
GVAL Cambria Global Value ETF 8.1 69 -10 11.5 +6.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 8.0 45 14 10.3 +4.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 7.5 39 20 13.5 +8.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 6.6 49 10 9.3 +4.0
FEM First Trust Emerging Markets AlphaDEX Fund 6.5 80 -21 12.0 +6.7
DVEM WisdomTree Emerging Markets Dividend Fund 6.3 32 27 9.4 +4.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 6.1 45 14 9.0 +3.6
EMCG WisdomTree Emerging Markets Consumer Growth Fund 6.0 32 27 7.9 +2.6
PICK iShares MSCI Global Metals & Mining Producers ETF 6.0 39 20 7.8 +2.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 5.9 95 -36 10.5 +5.1
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 5.9 45 14 13.9 +8.5
JHEM John Hancock Multifactor Emerging Markets ETF 5.8 55 4 9.2 +3.8
PBEE Invesco PureBeta FTSE Emerging Markets ETF 5.5 14 45 9.8 +4.5
ISEM Invesco Strategic Emerging Markets ETF 5.5 35 24 10.7 +5.4
NUEM Nuveen ESG Emerging Markets Equity ETF 5.3 45 14 8.1 +2.7
SCHE Schwab Emerging Markets Equity ETF 5.2 13 46 9.0 +3.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.0 32 27 9.8 +4.5
EEM iShares MSCI Emerging Markets ETF 5.0 68 -9 8.6 +3.2
SDEM Global X SuperDividend Emerging Markets ETF 5.0 67 -8 23.6 +18.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 4.9 65 -6 8.6 +3.2
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 4.8 64 -5 5.4 +0.1
ECON Columbia Emerging Markets Consumer ETF 4.5 59 0 5.1 -0.3
IEMG iShares Core MSCI Emerging Markets ETF 4.5 14 45 9.0 +3.6
ESGE iShares ESG MSCI EM ETF 4.4 25 34 10.0 +4.6
VWO Vanguard FTSE Emerging Markets ETF 4.4 10 49 9.1 +3.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 4.3 30 29 9.1 +3.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 4.3 20 39 7.9 +2.6
EMMF WisdomTree Emerging Markets Multifactor Fund 4.0 48 11 10.0 +4.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 3.7 32 27 7.0 +1.7
ROAM Hartford Multifactor Emerging Markets ETF 3.6 44 15 15.5 +10.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 3.4 50 9 10.2 +4.8
FDEM Fidelity Targeted Emerging Markets Factor ETF 3.3 45 14 10.0 +4.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 3.2 40 19 8.1 +2.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.2 59 0 11.5 +6.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 3.2 60 -1 10.8 +5.5
DVYE iShares Emerging Markets Dividend ETF 3.1 49 10 13.4 +8.1
GUNR Flexshares Morningstar Global Upstream Natural Resources 3.0 46 13 6.1 +0.8
WOOD iShares Global Timber & Forestry ETF 2.7 46 13 10.3 +4.9
CUT Invesco MSCI Global Timber ETF 2.7 55 4 9.4 +4.0
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.6 70 -11 13.4 +8.0
SPEM SPDR Portfolio Emerging Markets ETF 2.5 11 48 8.9 +3.5
BLES Inspire Global Hope Large Cap ETF 2.4 61 -2 6.6 +1.2
EEMD AAM S&P Emerging Markets High Dividend Value ETF 2.4 50 9 21.6 +16.3
AVEM Avantis Emerging Markets Equity ETF 2.3 33 26 9.9 +4.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.2 30 29 9.7 +4.3
FILL iShares MSCI Global Energy Producers ETF 2.1 39 20 6.3 +0.9
PIE Invesco DWA Emerging Markets Momentum ETF 2.0 90 -31 5.8 +0.5
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 2.0 80 -21 1.8 -3.6
IPOS Renaissance International IPO ETF 1.8 80 -21 5.2 -0.2
KMED KraneShares Emerging Markets Healthcare Index ETF 1.8 79 -20 2.5 -2.9
DEM WisdomTree Emerging Markets High Dividend Fund 1.8 63 -4 14.5 +9.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 1.7 25 34 8.6 +3.3
XBUY Amplify International Online Retail ETF 1.6 69 -10 -1.1 -6.4
VIDI Vident International Equity Fund 1.5 59 0 11.8 +6.5
MOO VanEck Vectors Agribusiness ETF 1.4 54 5 5.7 +0.4
PIO Invesco Global Water ETF 1.4 75 -16 4.2 -1.2
ACWX iShares MSCI ACWI ex U.S. ETF 1.4 32 27 7.7 +2.4
EMIF iShares Emerging Markets Infrastructure ETF 1.4 75 -16 8.3 +3.0
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 1.3 51 8 13.8 +8.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.3 40 19 7.6 +2.3
IXUS ishares Core MSCI Total International Stock ETF 1.2 9 50 7.8 +2.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 1.2 16 43 7.3 +2.0
VXUS Vanguard Total International Stock Index Fund 1.1 8 51 7.9 +2.6
VYMI Vanguard International High Dividend Yield ETF 1.1 32 27 10.6 +5.2
IQDE FlexShares International Quality Dividend Defensive Index Fd 1.0 47 12 13.1 +7.8
ACWF iShares FactorSelect MSCI Global ETF 1.0 35 24 8.2 +2.9
VSGX Vanguard ESG International Stock ETF 1.0 17 42 7.6 +2.3
VEU Vanguard FTSE All-World ex-US Index Fund 0.9 8 51 8.0 +2.6
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 12 13.4 +8.0
YLCO Global X YieldCo Index ETF 0.7 65 -6 4.5 -0.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.7 47 12 14.0 +8.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.7 29 30 10.1 +4.7
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.7 86 -27 2.4 -2.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 0.7 20 39 11.3 +5.9
RWX SPDR Dow Jones International Real Estate ETF 0.6 59 0 7.1 +1.8
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.6 20 39 6.5 +1.2
IXG iShares Global Financials ETF 0.6 46 13 10.2 +4.8
ACWI iShares MSCI ACWI ETF 0.6 32 27 6.2 +0.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.6 20 39 6.5 +1.1
GLIF AGFiQ Global Infrastructure ETF 0.5 45 14 5.1 -0.2
CWI SPDR MSCI ACWI ex-US ETF 0.5 30 29 7.9 +2.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 0.5 29 30 12.6 +7.3
DNL WisdomTree Global ex-US Dividend Growth Fund 0.5 58 1 8.0 +2.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.5 47 12 6.5 +1.2
DRW WisdomTree Global ex-US Real Estate Fund 0.4 58 1 11.1 +5.8
VT Vanguard Total World Stock Index Fund 0.4 8 51 6.4 +1.1

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:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.7 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.45
 
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.