ETF Research Center

iShares S&P Global Industrials Index Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global Industrials Index.

FUND BASICS
Category	Global Equities
Fund Sponsor	Barclays Global Fund Advisors
Website	www.ishares.com
Inception date	Sep 15, 2006
Assets (mns)	$208
Currency	USD
Expense ratio	46 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	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	200
Wgt avg mkt cap (mns)	$53,877
Large cap (>$10bn)	91.8%
Mid cap ($2-10bn)	8.2%
Small cap (<$2bn)	0.0%
Developed mkts	99.7%
Emerging mkts	0.3%

TOP TEN HOLDINGS
Total	24.2 %
BOEING CO	4.0 %
HONEYWELL INTERNATIONAL INC	2.8 %
UNION PACIFIC CORP	2.7 %
UNITED TECHNOLOGIES CORP	2.6 %
SIEMENS AG-REG	2.2 %
GENERAL ELECTRIC CO	2.1 %
3M CO	2.1 %
LOCKHEED MARTIN CORP	2.0 %
EADS NV	1.9 %
UNITED PARCEL SERVICE-CL B	1.9 %

TOP COUNTRY EXPOSURE
	UNITED STATES	48.6 %
	JAPAN	15.3 %
	FRANCE	5.9 %
	BRITAIN	5.7 %
	GERMANY	3.6 %
	IRELAND	3.6 %
	SWEDEN	3.1 %
	CANADA	3.1 %
	NETHERLANDS	2.5 %
	SWITZERLAND	2.3 %

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.
22.3%	14.6%	7.7%	10.6%	6.6%

Market Correlations
versus...	Beta	R-squared
S&P500	1.09	86%
MSCI EAFE	1.10	75%
MSCI Emg. Mkts.	0.76	59%

Technical Indicators
Recent close	$96.93
30d moving avg.	$92.56
Annualized volatility	14.2%
Short interest (ETF)	0.0%
Relative strength (RSI)	65

Liquidity measures
Avg. volume (thou.)	18
Turnover	0.8%
Bid/Ask (% of price)	0.14%
ADV underlying (mns)	$18,871

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Global Industrials ETF based on the alternatives' overlap in portfolio holdings with EXI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

EXI

Expense:

46 bp

ALTAR Score™:

6.1%

ALTERNATIVE ETFs BASED ON OVERLAP WITH EXI
Ticker	Fund Name	Overlap¹ vs EXI (%)	Expense ratio (bp)	Savings vs EXI (bp)	ALTAR Score™ (%)	ALTAR vs EXI (%)
VIS	Vanguard Industrials	51.8	10	36	6.3	+0.2
XLI	Industrials Select Sector SPDR	51.6	13	33	6.1	+0.0
FIDU	Fidelity Industrials	50.3	8	38	6.0	-0.2
IYJ	iShares DJ US Industrials	48.1	42	4	5.4	-0.7
JHMI	John Hancock Multifactor Industrials	43.6	40	6	6.6	+0.5
RGI	Invesco S&P Equal Weight Industrials	42.9	40	6	6.6	+0.5
FXR	First Trust Industrials/Producer Durables	23.7	62	-16	6.9	+0.8
SZNE	Pacer CFRA-Stovall Equal Weight Seasonal Rotation	21.1	60	-14	6.7	+0.6
BIBL	Inspire 100	21.1	35	11	5.7	-0.4
VIG	Vanguard Dividend Appreciation	20.7	6	40	5.5	-0.6
JKD	iShares Morningstar Large Companies	18.5	20	26	5.8	-0.3
MAGA	Point Bridge GOP Stock Tracker	18.1	72	-26	6.5	+0.4
PPA	Invesco Aero & Defense	17.0	59	-13	5.1	-1.0
DGRW	WisdomTree US Dividend Growth	16.9	28	18	6.8	+0.6
IFLY	ETFMG Drone Economy Strategy	16.4	75	-29	0.5	-5.6
EFG	iShares MSCI EAFE Growth	16.2	40	6	5.1	-1.0
IQIN	IQ 500 International	16.2	25	21	8.4	+2.3
GMAN	Goldman Sachs Motif Manufacturing Revolution	15.9	50	-4	4.7	-1.4
QJPN	SPDR MSCI Japan Quality Mix	15.1	14	32	8.0	+1.9
CIZ	Compass EMP Dev. 500 Enhanced Vol. Wgt.	15.1	45	1	6.9	+0.8

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

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

	2018	2019E	2020E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	iShares Global Industrials
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	17.7	%
Divided by: Fwd. P/BV	2.7	x
Less: Expense ratio	46	bp
Equals: ALTAR Score	6.1	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.61	CATEGORY AVERAGE	1.54

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.