iShares MSCI Brazil Small-Cap ETF
ALTAR
Score™
4.3% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
24.3x P/Sales
ratio
1.0x
P/BV
ratio
1.7x Div.
yield
2.6%


  • 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) $99
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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 84
Wgt avg mkt cap (mns) $3,063
Large cap (>$10bn) 2.5%
Mid cap ($2-10bn) 9.9%
Small cap (<$2bn) 78.3%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
TOTVS SA 4.6 %
BRADESPAR SA -PREF 3.4 %
ESTACIO PARTICIPACOES SA 3.1 %
MPX ENERGIA SA 3.1 %
CYRELA BRAZIL REALTY 2.7 %
COMPANHIA DE LOCACAO DAS AMERICAS 2.3 %
QUALICORP SA 2.3 %
TERNA PARTICIPACOES S.A-UNIT 2.2 %
CIA ENERGETICA DE SP-PREF B 2.1 %
CIA DE SANEAMENTO DO PARANA SA - S 2.1 %
Total 28.0 %

TOP COUNTRY EXPOSURE
BRAZIL 83.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-32.8% -20.9% 12.1% -- -3.3%

Market Correlations
versus... Beta R-squared
S&P500 1.19 24%
MSCI EAFE 1.65 40%
MSCI Emg. Mkts. 1.42 48%

Technical Indicators
Recent close $13.61
30d moving avg. $13.89
Annualized volatility 41.4%
Short interest (ETF) 0.7%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 41
Turnover 0.6%
Bid/Ask (% of price) 0.50%
ADV underlying (mns) $763

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 67 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™: 4.3%


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 Vectors Brazil Small-Cap ETF 55.4 63 -4 3.1 -1.3
FBZ First Trust Brazil AlphaDEX Fund 14.2 80 -21 6.7 +2.4
FLBR Franklin FTSE Brazil ETF 7.3 19 40 5.2 +0.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 6.1 69 -10 7.6 +3.3
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 5.4 80 -21 17.9 +13.6
FLLA Franklin FTSE Latin America ETF 4.9 19 40 6.6 +2.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 4.8 63 -4 12.5 +8.1
EWX SPDR S&P Emerging Markets Small Cap ETF 3.2 65 -6 6.0 +1.6
DVYE iShares Emerging Markets Dividend ETF 3.0 49 10 16.4 +12.1
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 2.3 50 9 10.3 +6.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.9 44 15 8.9 +4.5
EDUT Global X Education ETF 1.8 50 9 1.3 -3.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.4 59 0 10.8 +6.5
ROAM Hartford Multifactor Emerging Markets ETF 1.1 44 15 14.4 +10.1
AVEM Avantis Emerging Markets Equity ETF 1.1 33 26 8.7 +4.3
DEM WisdomTree Emerging Markets High Dividend Fund 1.1 63 -4 14.0 +9.6
XCEM Columbia EM Core ex-China ETF 0.9 16 43 7.0 +2.7
AWAY ETFMG Travel Tech ETF 0.9 75 -16 0.5 -3.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 12 12.4 +8.1
ISEM Invesco Strategic Emerging Markets ETF 0.7 35 24 10.2 +5.9
KMED KraneShares Emerging Markets Healthcare Index ETF 0.7 79 -20 2.0 -2.4
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.7 11 48 6.4 +2.1
VIDI Vident International Equity Fund 0.7 59 0 10.9 +6.6
VWO Vanguard FTSE Emerging Markets ETF 0.7 10 49 8.0 +3.6
RNEM Emerging Markets Equity Select ETF 0.6 75 -16 11.4 +7.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.6 95 -36 9.2 +4.9
IEMG iShares Core MSCI Emerging Markets ETF 0.6 13 46 7.8 +3.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.6 40 19 7.2 +2.8
GLIF AGFiQ Global Infrastructure ETF 0.6 45 14 5.2 +0.9
PICK iShares MSCI Global Metals & Mining Producers ETF 0.5 39 20 6.8 +2.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.5 32 27 6.1 +1.8
SDIV Global X SuperDividend ETF 0.5 59 0 13.1 +8.8
SCHE Schwab Emerging Markets Equity ETF 0.5 11 48 7.9 +3.5
CUT Invesco MSCI Global Timber ETF 0.5 61 -2 8.7 +4.3
EYLD Cambria Emerging Shareholder Yield ETF 0.4 66 -7 17.1 +12.8
PBEE Invesco PureBeta FTSE Emerging Markets ETF 0.4 15 44 8.6 +4.2
IPKW Invesco International BuyBack Achievers ETF 0.4 55 4 8.2 +3.9
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 0.4 10 49 9.2 +4.8
LVIN Hartford Multifactor Low Volatility International Equity ETF 0.4 29 30 12.0 +7.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 0.4 45 14 9.3 +5.0
SPEM SPDR Portfolio Emerging Markets ETF 0.4 11 48 7.8 +3.5
BLES Inspire Global Hope Large Cap ETF 0.4 52 7 6.4 +2.1
VEGI iShares MSCI Global Agriculture Producers ETF 0.3 39 20 5.5 +1.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 49 10 7.6 +3.3
PXH Invesco FTSE RAFI Emerging Markets ETF 0.3 50 9 13.2 +8.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.2 32 27 8.9 +4.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.2 39 20 12.6 +8.3
VSGX Vanguard ESG International Stock ETF 0.2 17 42 7.0 +2.7
INFR Legg Mason Global Infrastructure ETF 0.2 40 19 6.0 +1.7
IXUS ishares Core MSCI Total International Stock ETF 0.2 9 50 7.3 +2.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.2 58 1 7.7 +3.4
VNQI Vanguard Global ex-US Real Estate Index Fund 0.2 12 47 10.1 +5.7
VXUS Vanguard Total International Stock Index Fund 0.2 8 51 7.4 +3.1
VYMI Vanguard International High Dividend Yield ETF 0.1 32 27 9.9 +5.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 50 5.7 +1.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.1 47 12 6.2 +1.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 51 7.4 +3.1
GUNR Flexshares Morningstar Global Upstream Natural Resources 0.1 46 13 5.5 +1.1
RWX SPDR Dow Jones International Real Estate ETF 0.1 59 0 6.8 +2.4
VT Vanguard Total World Stock Index Fund 0.1 8 51 5.9 +1.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.1 86 -27 2.1 -2.2
DEW WisdomTree Global High Dividend Fund 0.1 58 1 9.1 +4.7
FILL iShares MSCI Global Energy Producers ETF 0.1 39 20 6.3 +2.0
HAP VanEck Vectors Natural Resources ETF 0.1 50 9 5.9 +1.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.0 30 29 7.7 +3.4
RWO SPDR Dow Jones Global Real Estate ETF 0.0 50 9 7.0 +2.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 23 8.0 +3.7

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 Small-Cap 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 8.1 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.