iShares MSCI Eurozone ETF
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
24.2x P/Sales
ratio
1.2x
P/BV
ratio
1.6x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI EMU Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the European Monetary Union (EMU) markets, as measured by the MSCI EMU Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jul 25, 2000
Assets (mns) $4,785
Currency USD
Expense ratio 49 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 249
Wgt avg mkt cap (mns) $68,342
Large cap (>$10bn) 91.4%
Mid cap ($2-10bn) 6.1%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ASML HOLDING NV 3.7 %
LVMH MOET HENNESSY LOUIS VUI 3.2 %
SAP AG 2.6 %
SANOFI-AVENTIS 2.3 %
TOTAL SA 2.1 %
SIEMENS AG-REG 2.1 %
ALLIANZ SE-REG 2.0 %
L'OREAL 1.9 %
UNILEVER NV 1.8 %
ENEL SPA 1.6 %
Total 23.2 %

TOP COUNTRY EXPOSURE
FRANCE 31.8 %
GERMANY 27.5 %
NETHERLANDS 15.1 %
SPAIN 7.6 %
ITALY 6.5 %
FINLAND 3.1 %
BELGIUM 2.8 %
IRELAND 2.2 %
LUXEMBOURG 0.8 %
BRITAIN 0.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
3.3% 6.6% 5.8% 5.6% 3.6%

Market Correlations
versus... Beta R-squared
S&P500 1.04 76%
MSCI EAFE 1.18 96%
MSCI Emg. Mkts. 0.91 72%

Technical Indicators
Recent close $43.98
30d moving avg. $40.45
Annualized volatility 22.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 6,526
Turnover 6.0%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $21,562

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares MSCI Eurozone ETF ETF based on the alternatives' overlap in portfolio holdings with EZU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EZU Expense: 49 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EZU
Ticker Fund
Name
Overlap1
vs EZU
(%)
Expense
ratio
(bp)
Savings
vs EZU
(bp)
ALTAR
Score™
(%)
ALTAR
vs EZU
(%)
EURZ Xtrackers Eurozone Equity ETF 91.6 9 40 6.5 +0.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 88.5 45 4 6.3 +0.2
FEZ SPDR EURO STOXX 50 ETF 58.7 29 20 6.2 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 51.9 45 4 6.2 +0.1
IEV iShares Europe ETF 51.0 59 -10 6.4 +0.3
BBEU JPMorgan BetaBuilders Europe ETF 50.2 9 40 6.9 +0.8
FLEH Franklin FTSE Europe Hedged ETF 49.6 9 40 6.8 +0.7
FLEE Franklin FTSE Europe ETF 49.2 9 40 6.6 +0.5
IEUR iShares Core MSCI Europe ETF 45.5 9 40 6.8 +0.7
VGK Vanguard FTSE Europe ETF 44.3 8 41 6.9 +0.8
FEU SPDR Portfolio Europe ETF 44.3 9 40 7.0 +0.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 44.1 25 24 6.1 0.0
HEDJ WisdomTree Europe Hedged Equity Fund 40.4 58 -9 6.3 +0.2
EFV iShares MSCI EAFE Value ETF 34.9 39 10 8.7 +2.6
EUDG WisdomTree Europe Quality Dividend Growth Fund 34.5 58 -9 6.7 +0.6
EWQ iShares MSCI France ETF 34.4 50 -1 5.6 -0.5
FLFR Franklin FTSE France ETF 33.9 9 40 6.1 +0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 32.7 20 29 6.6 +0.5
EFA iShares MSCI EAFE ETF 32.3 32 17 6.5 +0.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 32.2 14 35 6.3 +0.2
IQSI IQ Candriam ESG International Equity ETF 32.1 15 34 6.6 +0.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 31.9 35 14 6.3 +0.3
ESGD iShares MSCI EAFE ESG Optimized ETF 31.6 20 29 6.3 +0.2
IQIN IQ 500 International ETF 31.5 25 24 7.9 +1.8
OEUR O'shares FTSE Europe Quality Dividend ETF 31.2 48 1 6.5 +0.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 30.9 45 4 7.9 +1.8
JHMD John Hancock Multifactor Developed International ETF 30.1 39 10 6.8 +0.7
EFG iShares MSCI EAFE Growth ETF 29.8 40 9 4.3 -1.8
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 29.6 35 14 6.3 +0.2
GSID Goldman Sachs MarketBeta International Equity ETF 29.1 20 29 6.5 +0.4
HFXI IQ 50 Percent Hedged FTSE International ETF 28.7 20 29 6.8 +0.7
IMTM iShares Edge MSCI Intl Momentum Factor ETF 28.6 30 19 4.3 -1.8
DOL WisdomTree International LargeCap Dividend Fund 28.5 48 1 7.4 +1.3
DMXF iShares ESG Advanced MSCI EAFE ETF 28.5 12 37 6.4 +0.3
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 28.1 7 42 7.0 +0.9
BKIE BNY Mellon International Equity ETF 27.7 4 45 6.8 +0.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 27.7 25 24 6.2 +0.1
FLGR Franklin FTSE Germany ETF 27.6 9 40 7.3 +1.2
EWG iShares MSCI Germany ETF 27.6 49 0 7.0 +0.9
IEFA iShares Core MSCI EAFE ETF 27.6 7 42 6.7 +0.6
FNDF Schwab Fundamental International Large Co. Index ETF 27.4 25 24 8.0 +1.9
DBGR Xtrackers MSCI Germany Hedged Equity ETF 27.3 45 4 6.8 +0.7
QEFA SPDR MSCI EAFE Quality Mix ETF 26.9 30 19 6.3 +0.3
FEUZ First Trust Eurozone AlphaDEX ETF 26.3 80 -31 7.4 +1.3
SCHF Schwab International Equity ETF 26.0 6 43 6.8 +0.7
IQLT iShares Edge MSCI Intl Quality Factor ETF 25.9 30 19 5.7 -0.4
IVLU iShares Edge MSCI Intl Value Factor ETF 25.8 30 19 10.5 +4.4
RESD WisdomTree International ESG Fund 25.6 30 19 6.4 +0.3
PDEV Principal International Multi-Factor Core Index ETF 25.4 25 24 7.3 +1.2
IDEV iShares Core MSCI International Developed Markets ETF 25.0 5 44 6.6 +0.5
DFAI Dimensional International Core Equity Market ETF 25.0 18 31 6.7 +0.6
QDEU SPDR MSCI Germany Quality Mix ETF 24.9 14 35 7.2 +1.2
CIL VictoryShares International Volatility Weighted Index ETF 24.7 45 4 6.5 +0.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 24.6 45 4 6.5 +0.5
ISDX Invesco Strategic Developed ex-US ETF 24.4 23 26 6.7 +0.6
IDY Pacific Global International Equity Income ETF 24.4 39 10 7.6 +1.5
DWM WisdomTree International Equity Fund 24.3 48 1 7.4 +1.4
ISZE iShares Edge MSCI Intl Size Factor ETF 24.0 30 19 6.7 +0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 23.7 35 14 7.6 +1.5
IGRO iShares International Dividend Growth ETF 22.7 22 27 7.8 +1.7
SPDW SPDR Portfolio Developed World ex-US ETF 22.6 4 45 6.5 +0.4
DAX Global X DAX Germany ETF 22.6 21 28 7.3 +1.2
VEA Vanguard FTSE Developed Markets ETF 22.5 5 44 6.8 +0.7
DTH WisdomTree DEFA Equity Income Fund 21.7 58 -9 9.0 +2.9
IDMO Invesco S&P International Developed Momentum ETF 21.5 26 23 3.9 -2.2
TPIF Timothy Plan International ETF 21.5 62 -13 6.2 +0.1
PQIN PGIM QMA Strategic Alpha International Equity ETF 21.4 29 20 7.3 +1.3
NUDM Nuveen ESG International Developed Markets Equity ETF 21.0 40 9 6.2 +0.1
FIVA Fidelity International Value Factor ETF 20.8 39 10 9.1 +3.0
ACWX iShares MSCI ACWI ex U.S. ETF 20.6 32 17 6.8 +0.7
DXGE WisdomTree Germany Hedged Equity Fund 20.5 48 1 8.3 +2.2
RNDM Developed International Equity Select ETF 20.5 65 -16 5.9 -0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 20.4 40 9 6.5 +0.4
CWI SPDR MSCI ACWI ex-US ETF 20.3 30 19 6.7 +0.6
RFEU First Trust Riverfront Dynamic Europe ETF 20.3 83 -34 5.8 -0.3
RBIN Nationwide Risk-Based International Equity ETF 19.8 42 7 6.3 +0.2
VYMI Vanguard International High Dividend Yield ETF 19.7 27 22 9.4 +3.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 19.7 16 33 6.4 +0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 19.2 39 10 6.0 -0.1
AVDE Avantis International Equity ETF 18.9 23 26 7.0 +0.9
UIVM VictoryShares USAA MSCI International Value Momentum ETF 18.7 35 14 8.1 +2.0
VIGI Vanguard International Dividend Appreciation ETF 18.5 20 29 5.3 -0.8
VEU Vanguard FTSE All-World ex-US Index Fund 18.3 8 41 7.0 +1.0
IXUS ishares Core MSCI Total International Stock ETF 17.9 9 40 6.9 +0.8
VSGX Vanguard ESG International Stock ETF 17.5 17 32 6.7 +0.6
QINT American Century Quality Diversified International ETF 17.2 39 10 6.0 -0.1
IDHQ Invesco S&P International Developed Quality ETF 16.6 29 20 4.8 -1.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 16.5 39 10 7.3 +1.2
FEP First Trust Europe AlphaDEX Fund 16.4 80 -31 7.8 +1.7
VGFO Virtus WMC Global Factor Opportunities ETF 16.3 49 0 7.5 +1.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 16.2 20 29 9.9 +3.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 16.1 47 2 8.7 +2.6
RXI iShares Global Consumer Discretionary ETF 15.6 46 3 4.6 -1.5
FDEV Fidelity Targeted International Factor ETF 15.3 39 10 6.3 +0.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 14.8 20 29 8.6 +2.5
VXUS Vanguard Total International Stock Index Fund 14.7 8 41 7.1 +1.0
EFAV iShares Edge MSCI Min Vol EAFE ETF 14.4 20 29 5.2 -0.9
DWCR Arrow DWA Country Rotation ETF 14.4 95 -46 5.6 -0.5

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 Eurozone ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.1 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.
 

 

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.