iShares U.S. Broker-Dealers ETF
ALTAR
Score™
6.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.3x P/Sales
ratio
2.9x
P/BV
ratio
1.8x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares U.S. Broker-Dealers Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Select Investment Services Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date May 05, 2006
Assets (mns) $152
Currency USD
Expense ratio 42 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 25
Wgt avg mkt cap (mns) $37,407
Large cap (>$10bn) 72.0%
Mid cap ($2-10bn) 23.8%
Small cap (<$2bn) 4.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CME GROUP INC 17.8 %
GOLDMAN SACHS GROUP INC 15.9 %
INTERCONTINENTALEXCHANGE INC 11.5 %
MARKETAXESS HOLDINGS INC 5.6 %
E*TRADE FINANCIAL CORP 4.9 %
CBOE HOLDINGS INC 4.6 %
MORGAN STANLEY 4.6 %
NASDAQ OMX GROUP/THE 4.4 %
LPL FINANCIAL HOLDINGS INC 4.1 %
TD AMERITRADE HOLDING CORP 3.9 %
Total 77.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.9 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.4% -8.2% 8.0% 8.8% 3.3%

Market Correlations
versus... Beta R-squared
S&P500 1.01 72%
MSCI EAFE 1.01 62%
MSCI Emg. Mkts. 0.74 51%

Technical Indicators
Recent close $57.54
30d moving avg. $56.84
Annualized volatility 20.1%
Short interest (ETF) 1.4%
Short interest (Underlying) 2.7%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 40
Turnover 1.5%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $3,217

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares U.S. Broker-Dealers ETF ETF based on the alternatives' overlap in portfolio holdings with IAI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IAI Expense: 42 bp ALTAR Score™: 6.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IAI
Ticker Fund
Name
Overlap1
vs IAI
(%)
Expense
ratio
(bp)
Savings
vs IAI
(bp)
ALTAR
Score™
(%)
ALTAR
vs IAI
(%)
KCE SPDR S&P Capital Markets ETF 36.5 35 7 8.6 +1.7
RYF Invesco S&P 500 Equal Weight Financials ETF 15.2 40 2 10.8 +4.0
PFI Invesco DWA Financial Momentum ETF 14.0 60 -18 3.7 -3.2
IYG iShares US Financial Services ETF 13.6 42 0 7.4 +0.5
XLF Financial Select Sector SPDR Fund 12.8 13 29 9.0 +2.1
VFH Vanguard Financials Index Fund 12.1 10 32 9.6 +2.7
FNCL Fidelity MSCI Financials Index ETF 11.8 8 34 9.6 +2.7
IEFN iShares Evolved U.S. Financials ETF 10.6 18 24 10.0 +3.1
JHMF John Hancock Multifactor Financials ETF 10.0 40 2 8.4 +1.5
EQRR ProShares Equities for Rising Rates ETF 8.1 35 7 6.6 -0.3
PLAT WisdomTree Modern Tech Platforms Fund 7.9 45 -3 1.4 -5.5
IYF iShares U.S. Financials ETF 7.8 42 0 7.7 +0.8
BLOK Amplify Transformational Data Sharing ETF 7.7 70 -28 5.6 -1.3
FXO First Trust Financials AlphaDEX Fund 6.7 63 -21 13.5 +6.6
IXG iShares Global Financials ETF 6.4 46 -4 11.2 +4.3
DFNL Davis Select Financial ETF 6.1 64 -22 9.3 +2.4
SPVU Invesco S&P 500 Enhanced Value ETF 5.4 13 29 12.0 +5.2
QVM Arrow QVM Equity Factor ETF 5.2 65 -23 5.4 -1.5
BLCN Reality Shares Nasdaq NextGen Economy ETF 5.2 68 -26 4.8 -2.1
DIA SPDR Dow Jones Industrial Average ETF Trust 5.0 16 26 5.9 -1.0
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 4.7 49 -7 5.1 -1.8
BOUT Innovator IBD Breakout Opportunities ETF 4.6 80 -38 2.9 -4.0
ARKF ARK Fintech Innovation ETF 4.5 75 -33 1.1 -5.8
KBWD Invesco KBW High Dividend Yield Financial ETF 4.4 158 -116 16.4 +9.6
SPGP Invesco S&P 500 GARP ETF 4.4 35 7 7.9 +1.0
CWS AdvisorShares Focused Equity ETF 4.4 85 -43 5.7 -1.2
PKW Invesco Buyback Achievers ETF 4.2 62 -20 7.5 +0.6
PWV Invesco Dynamic Large Cap Value ETF 4.1 55 -13 8.9 +2.0
STLV iShares Factors US Value Style ETF 4.1 25 17 8.8 +2.0
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 4.1 39 3 6.7 -0.2
VSL Volshares Large Capital ETF 4.0 65 -23 5.9 -0.9
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 4.0 38 4 9.7 +2.8
TTFS AdvisorShares Wilshire Buyback ETF 4.0 91 -49 6.6 -0.3
BVAL Brand Value ETF 3.9 65 -23 6.6 -0.3
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 3.9 75 -33 5.6 -1.3
LEAD Reality Shares DIVCON Leaders Dividend ETF 3.8 43 -1 4.6 -2.3
PSET Principal Price Setters Index ETF 3.5 29 13 4.9 -2.0
CCOR Core Alternative ETF 3.4 123 -81 4.5 -2.4
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 3.4 48 -6 6.9 +0.0
FDN First Trust Dow Jones Internet Index Fund 3.3 52 -10 2.6 -4.3
EDOW First Trust Dow 30 Equal Weight ETF 3.3 50 -8 6.2 -0.7
LEGR First Trust Index Digital Transaction & Process Technology E 3.1 65 -23 7.9 +1.0
LSAF LeaderShares AlphaFactor US Core Equity ETF 3.0 75 -33 7.9 +1.0
FDLO Fidelity Low Volatility Factor ETF 2.9 29 13 5.5 -1.4
SPYB SPDR S&P 500 Buyback ETF 2.9 35 7 10.2 +3.3
DES WisdomTree U.S. SmallCap Dividend Fund 2.9 38 4 9.4 +2.5
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 2.9 49 -7 11.3 +4.4
SPHB Invesco S&P 500 High Beta ETF 2.9 25 17 11.5 +4.7
MXDU Nationwide Maximum Diversification US Core Equity ETF 2.8 34 8 5.6 -1.3
SLT Salt TruBeta High Exposure ETF 2.8 29 13 7.7 +0.8
SYV SPDR MFS Systematic Value Equity ETF 2.8 60 -18 7.9 +1.0
DJD Invesco Dow Jones Industrial Average Dividend ETF 2.8 7 35 7.0 +0.1
IWX iShares Russell Top 200 Value ETF 2.8 20 22 7.4 +0.5
DFND Reality Shares DIVCON Dividend Defender ETF 2.7 121 -79 3.8 -3.1
QLC FlexShares US Quality Large Cap Index Fund 2.7 32 10 5.9 -1.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 2.7 49 -7 5.9 -1.0
GFIN Goldman Sachs Motif Finance Reimagined ETF 2.7 50 -8 6.0 -0.9
ETHO Etho Climate Leadership U.S. ETF 2.6 47 -5 4.8 -2.1
MAGA Point Bridge GOP Stock Tracker ETF 2.6 72 -30 7.0 +0.2
QUAL iShares MSCI Usa Quality Factor ETF 2.6 15 27 5.7 -1.2
LGLV SPDR Russell 1000 Low Volatility ETF 2.6 12 30 6.0 -0.9
VGFO Virtus WMC Global Factor Opportunities ETF 2.5 49 -7 6.6 -0.3
RPV Invesco S&P 500 Pure Value ETF 2.5 35 7 12.5 +5.6
NUMG Nuveen ESG Mid-Cap Growth ETF 2.5 40 2 3.3 -3.6
WLDR Affinity World Leaders Equity ETF 2.5 47 -5 10.2 +3.3
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 2.4 35 7 6.2 -0.7
ECOZ TrueMark ESG Active Opportunities ETF 2.4 58 -16 4.7 -2.2
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 2.4 30 12 6.6 -0.3
SPVM Invesco S&P 500 Value with Momentum ETF 2.4 39 3 10.3 +3.4
ACSI American Customer Satisfaction Core Alpha ETF 2.4 66 -24 5.3 -1.6
NULV Nuveen ESG Large-Cap Value ETF 2.4 35 7 7.9 +1.1
RAFE PIMCO RAFI ESG U.S. ETF 2.3 29 13 8.3 +1.4
VFMV Vanguard U.S. Minimum Volatility ETF 2.3 13 29 4.1 -2.8
DSTL Distillate US Fundamental Stability & Value ETF 2.3 39 3 6.9 -0.0
IWD iShares Russell 1000 Value ETF 2.2 19 23 7.6 +0.7
VONV Vanguard Russell 1000 Value Index Fund 2.2 8 34 7.7 +0.8
TTAC TrimTabs Float Shrink ETF 2.2 59 -17 3.7 -3.2
EPS WisdomTree U.S. Earnings 500 Fund 2.2 8 34 6.9 -0.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 2.2 9 33 6.4 -0.5
QSY WisdomTree U.S. LargeCap Value Fund 2.2 38 4 7.4 +0.5
FTHI First Trust High Income ETF 2.1 85 -43 6.0 -0.9
RVRS Reverse Cap Weighted U.S. Large Cap ETF 2.1 29 13 7.9 +1.0
FQAL Fidelity Quality Factor ETF 2.1 29 13 5.7 -1.2
MOAT VanEck Vectors Morningstar Wide Moat ETF 2.1 49 -7 6.4 -0.5
VLUE iShares Edge MSCI USA Value Factor ETF 2.1 15 27 11.9 +5.1
DEF Invesco Defensive Equity ETF 2.1 55 -13 5.3 -1.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 2.1 30 12 7.1 +0.3
FMK First Trust Mega Cap AlphaDEX Fund 2.1 70 -28 5.5 -1.3
REVS Columbia Research Enhanced Value ETF 2.1 19 23 8.1 +1.2
VLU SPDR S&P 1500 Value Tilt ETF 2.1 12 30 8.0 +1.1
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 2.1 15 27 7.2 +0.4
ESGS Columbia Sustainable U.S. Equity Income ETF 2.0 35 7 9.6 +2.8
RPG Invesco S&P 500 Pure Growth ETF 2.0 35 7 4.7 -2.2
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 2.0 25 17 7.9 +1.0
ENTR Entrepreneur 30 Fund 2.0 49 -7 3.1 -3.8
CFA VictoryShares US 500 Volatility Weighted Index ETF 2.0 35 7 6.3 -0.6
OSCV Opus Small Cap Value Plus ETF 2.0 79 -37 6.2 -0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 2.0 25 17 6.4 -0.5
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 2.0 60 -18 9.4 +2.5

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 U.S. Broker-Dealers ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.7 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.52
 
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.