iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™		 10.9% info Recommen-
dation		 OVERWEIGHT
2024E    2025E
P/E
ratio		 9.4x P/Sales
ratio		 0.6x
P/BV
ratio		 1.2x Div.
yield		 4.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Brazil Small-Cap ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the performance of the MSCI Brazil Small Cap Index Fund.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Sep 28, 2010
Assets (mns) $127
Currency USD
Expense ratio 59 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust Co
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 83
Wgt avg mkt cap (mns) $1,166
Large cap (>$10bn) 1.5%
Mid cap ($2-10bn) 15.7%
Small cap (<$2bn) 74.4%
Developed mkts 5.3%
Emerging mkts 94.7%

TOP TEN HOLDINGS
LOJAS RENNER S.A. 6.4 %
ALLOS SA 3.4 %
TERNA PARTICIPACOES S.A-UNIT 3.1 %
METALURGICA GERDAU SA-PREF 3.0 %
GPS PARTICIPACOES E EMPREENDIMENTO 2.9 %
MULTIPLAN EMPREENDIMENTOS 2.8 %
MARFRIG ALIMENTOS SA 2.5 %
MARCOPOLO SA-PREF 2.5 %
SANTOS BRASIL PARTICIPACOES SA 2.5 %
CYRELA BRAZIL REALTY 2.4 %
Total 31.4 %

TOP COUNTRY EXPOSURE
BRAZIL 75.6 %
CANADA 1.8 %
CAYMAN ISLANDS 1.6 %
BRITAIN 0.8 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-22.9% -4.7% -6.2% -0.7% -2.9%

Market Correlations
versus... Beta R-squared
S&P500 1.13 38%
MSCI EAFE 0.95 28%
MSCI Emg. Mkts. 0.65 13%

Technical Indicators
Recent close $11.58
30d moving avg. $12.23
Annualized volatility 31.7%
Short interest (ETF) 5.8%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 191
Turnover 1.7%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $447

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 121 potential alternatives to the iShares MSCI Brazil Small-Cap ETF ETF based on the alternatives' overlap in portfolio holdings with EWZS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWZS Expense: 59 bp ALTAR Score™: 10.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWZS
Ticker Fund
Name		 Overlap1
vs EWZS
(%)		 Expense
ratio
(bp)		 Savings
vs EWZS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWZS
(%)
BRF VanEck Brazil Small-Cap ETF 54.4 66 -7 9.7 -1.2
FBZ First Trust Brazil AlphaDEX Fund 13.9 80 -21 13.3 +2.5
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 8.2 80 -21 12.3 +1.4
BRAZ Global X Brazil Active ETF 5.2 75 -16 10.1 -0.7
FLBR Franklin FTSE Brazil ETF 3.4 19 40 13.2 +2.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.2 58 1 10.2 -0.7
DVYE iShares Emerging Markets Dividend ETF 3.1 49 10 18.8 +7.9
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 2.8 90 -31 6.1 -4.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 2.5 70 -11 7.7 -3.2
FLLA Franklin FTSE Latin America ETF 2.1 19 40 13.2 +2.3
EWX SPDR S&P Emerging Markets Small Cap ETF 2.1 65 -6 8.2 -2.7
SDIV Global X Superdividend ETF 1.9 58 1 14.9 +4.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.9 59 0 11.3 +0.4
LITP Sprott Lithium Miners ETF 1.8 65 -6 16.9 +6.1
REMX VanEck Rare Earth/Strategic Metals ETF 1.8 54 5 13.9 +3.1
ILIT iShares Lithium Miners and Producers ETF 1.8 47 12 12.3 +1.4
EYLD Cambria Emerging Shareholder Yield ETF 1.8 66 -7 13.2 +2.3
PBW Invesco WilderHill Clean Energy ETF 1.8 66 -7 -13.7 -24.6
VIDI Vident International Equity Strategy ETF 1.5 61 -2 10.2 -0.7
EMM Global X Emerging Markets ex-China ETF 1.4 75 -16 4.2 -6.6
WOOD iShares Global Timber & Forestry ETF 1.3 42 17 9.8 -1.1
EMC Global X Emerging Markets Great Consumer ETF 1.2 75 -16 4.5 -6.4
CGW Invesco S&P Global Water Index ETF 1.2 57 2 4.4 -6.5
EFRA iShares Environmental Infrastructure and Industrials ETF 1.1 47 12 4.9 -6.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.9 44 15 10.6 -0.2
SETM Sprott Energy Transition Materials ETF 0.8 65 -6 6.0 -4.9
BATT Amplify Lithium & Battery Technology ETF 0.8 59 0 -0.1 -11.0
IWTR iShares MSCI Water Management Multisector ETF 0.8 47 12 5.0 -5.9
AVES Avantis Emerging Markets Value ETF 0.8 36 23 11.6 +0.7
IBUY Amplify Online Retail ETF 0.8 65 -6 1.4 -9.5
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.7 58 1 4.6 -6.3
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.6 70 -11 9.2 -1.7
XCNY SPDR S&P Emerging Markets ex-China ETF 0.6 15 44 6.3 -4.6
RNRG Global X Renewable Energy Producers ETF 0.6 66 -7 5.5 -5.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.6 7 52 6.7 -4.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 18 7.4 -3.5
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.6 12 47 7.2 -3.7
AVEM Avantis Emerging Markets Equity ETF 0.6 33 26 8.9 -2.0
BLLD JPMorgan Sustainable Infrastructure ETF 0.6 49 10 5.7 -5.2
DEM WisdomTree Emerging Markets High Dividend Fund 0.6 63 -4 18.9 +8.0
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 21 7.8 -3.1
LIT Global X Lithium & Battery Tech ETF 0.5 75 -16 9.1 -1.8
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.5 86 -27 1.2 -9.6
FAN First Trust Global Wind Energy ETF 0.5 60 -1 5.5 -5.3
CARZ First Trust NASDAQ Global Auto Index Fund 0.5 70 -11 3.8 -7.1
RWX SPDR Dow Jones International Real Estate ETF 0.5 59 0 7.4 -3.5
BGAIX Baron Global Advantage 0.5 75 -16 0.6 -10.3
BIGFX Baron International Growth Retail 0.5 75 -16 3.1 -7.7
AQWA Global X Clean Water ETF 0.4 50 9 4.2 -6.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.4 50 9 13.0 +2.1
IEMG iShares Core MSCI Emerging Markets ETF 0.4 9 50 7.5 -3.4
VEGI iShares MSCI Agriculture Producers ETF 0.4 39 20 9.2 -1.7
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 24 7.3 -3.6
VWO Vanguard FTSE Emerging Markets ETF 0.4 8 51 6.9 -3.9
GMET VanEck Green Metals ETF 0.4 63 -4 10.7 -0.2
PXH Invesco FTSE RAFI Emerging Markets ETF 0.4 49 10 12.2 +1.4
PICK iShares MSCI Global Metals & Mining Producers ETF 0.4 39 20 12.8 +2.0
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.3 45 14 5.7 -5.2
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 49 7.7 -3.2
DFEV Dimensional Emerging Markets Value ETF 0.3 43 16 11.1 +0.2
CUT Invesco MSCI Global Timber ETF 0.3 61 -2 8.4 -2.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -36 10.5 -0.4
XC WisdomTree Emerging Markets Ex-China Fund 0.3 32 27 6.0 -4.9
SPEM SPDR Portfolio Emerging Markets ETF 0.3 7 52 7.3 -3.6
CCSO Carbon Collective Climate Solutions US Equity ETF 0.3 35 24 1.9 -8.9
EBIZ Global X E-Commerce ETF 0.2 50 9 2.1 -8.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.2 39 20 12.5 +1.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 29 8.0 -2.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.2 33 26 8.2 -2.6
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 -3 3.6 -7.3
FTRI First Trust Indxx Global Natural Resources Income ETF 0.2 70 -11 9.8 -1.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.2 32 27 6.2 -4.7
FDEM Fidelity Emerging Markets Multifactor ETF 0.2 25 34 12.3 +1.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.2 15 44 10.2 -0.6
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.2 18 41 6.8 -4.0
RNEM First Trust Emerging Markets Equity Select ETF 0.2 75 -16 7.6 -3.3
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.2 47 12 5.5 -5.4
SCHE Schwab Emerging Markets Equity ETF 0.1 11 48 7.1 -3.8
VSGX Vanguard ESG International Stock ETF 0.1 12 47 6.8 -4.1
SHPP Pacer Industrials and Logistics ETF 0.1 60 -1 9.9 -1.0
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 47 8.3 -2.6
RWO SPDR Dow Jones Global Real Estate ETF 0.1 50 9 6.1 -4.8
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 52 7.2 -3.7
VXUS Vanguard Total International Stock ETF 0.1 7 52 7.2 -3.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 13 9.3 -1.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.1 86 -27 1.6 -9.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.1 45 14 11.0 +0.1
AVSC Avantis U.S Small Cap Equity ETF 0.1 25 34 4.7 -6.2
VYMI Vanguard International High Dividend Yield ETF 0.1 22 37 9.8 -1.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 0.1 20 39 6.8 -4.1
XCEM Columbia EM Core ex-China ETF 0.1 16 43 7.7 -3.2
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 51 7.3 -3.6
IWO iShares Russell 2000 Growth ETF 0.1 24 35 0.6 -10.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 27 6.9 -4.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 35 9.2 -1.7
GINN Goldman Sachs Innovate Equity ETF 0.1 52 7 2.8 -8.1
BKEM BNY Mellon Emerging Markets Equity ETF 0.1 11 48 8.4 -2.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.1 36 23 7.8 -3.0
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -30 4.9 -6.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 50 5.4 -5.5
FILL iShares MSCI Global Energy Producers ETF 0.0 39 20 9.6 -1.2
VTWG Vanguard Russell 2000 Growth ETF 0.0 15 44 0.7 -10.2
DEW WisdomTree Global High Dividend Fund 0.0 58 1 8.5 -2.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 44 7.2 -3.6
AVUV Avantis U.S. Small Cap Value ETF 0.0 25 34 8.8 -2.0
VT Vanguard Total World Stock ETF 0.0 7 52 5.5 -5.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -7 10.0 -0.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 17 8.1 -2.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 20 4.1 -6.8
IWM iShares Russell 2000 ETF 0.0 19 40 2.8 -8.1
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.0 39 20 5.8 -5.1
RSSL Global X Russell 2000 ETF 0.0 8 51 2.6 -8.3
VTWO Vanguard Russell 2000 ETF 0.0 10 49 2.9 -8.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.0 20 39 4.6 -6.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 18 7.4 -3.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 41 7.0 -3.9
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 38 3.8 -7.1
AVUS Avantis U.S. Equity ETF 0.0 15 44 5.6 -5.3
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 50 4.8 -6.1
IWV iShares Russell 3000 ETF 0.0 20 39 4.7 -6.2
VTHR Vanguard Russell 3000 ETF 0.0 10 49 4.7 -6.1

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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 Small-Cap ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.7 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 10.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 CATEGORY
AVERAGE		 1.48
 
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.