iShares U.S. Regional Banks ETF
ALTAR
Score™		 7.8% info Recommen-
dation		 SPECULATIVE
2020E    2021E
P/E
ratio		 18.2x P/Sales
ratio		 3.2x
P/BV
ratio		 1.2x Div.
yield		 3.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares Dow Jones US Regional Banks Index Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones US Select Regional Banks Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date May 01, 2006
Assets (mns) $332
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 54
Wgt avg mkt cap (mns) $29,027
Large cap (>$10bn) 65.5%
Mid cap ($2-10bn) 33.8%
Small cap (<$2bn) 0.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BB&T CORP 12.5 %
US BANCORP 11.9 %
PNC FINANCIAL SERVICES GROUP 11.7 %
FIRST REPUBLIC BANK/CA 4.8 %
SVB FINANCIAL GROUP 4.3 %
FIFTH THIRD BANCORP 4.1 %
M & T BANK CORP 3.3 %
KEYCORP 3.2 %
REGIONS FINANCIAL CORP 3.1 %
CITIZENS FINANCIAL GROUP, INC. 3.1 %
Total 62.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.9 %
PUERTO RICO 0.9 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.7% -7.7% 7.9% 8.5% 1.9%

Market Correlations
versus... Beta R-squared
S&P500 1.40 70%
MSCI EAFE 1.36 65%
MSCI Emg. Mkts. 1.21 66%

Technical Indicators
Recent close $49.86
30d moving avg. $45.85
Annualized volatility 31.4%
Short interest (ETF) 3.8%
Short interest (Underlying) 3.4%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 148
Turnover 2.2%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $3,832

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IAT Expense: 42 bp ALTAR Score™: 7.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IAT
Ticker Fund
Name		 Overlap1
vs IAT
(%)		 Expense
ratio
(bp)		 Savings
vs IAT
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IAT
(%)
KRE SPDR S&P Regional Banking ETF 64.8 35 7 7.3 -0.4
KBE SPDR S&P Bank ETF 54.0 35 7 8.1 +0.3
FTXO First Trust Nasdaq Bank ETF 51.0 60 -18 6.6 -1.2
KBWB Invesco KBW Bank ETF 49.2 35 7 7.7 -0.1
KBWR Invesco KBW Regional Banking ETF 26.7 35 7 7.5 -0.3
FXO First Trust Financials AlphaDEX Fund 24.9 63 -21 9.1 +1.3
RYF Invesco S&P 500 Equal Weight Financials ETF 22.0 40 2 7.5 -0.3
SPYD SPDR S&P 500 High Dividend ETF 16.5 7 35 9.2 +1.4
DVY iShares Select Dividend ETF 16.4 39 3 8.0 +0.3
DFNL Davis Select Financial ETF 16.2 64 -22 6.7 -1.1
EQRR ProShares Equities for Rising Rates ETF 15.6 35 7 6.1 -1.7
IEFN iShares Evolved U.S. Financials ETF 15.3 18 24 7.5 -0.3
IYG iShares US Financial Services ETF 15.0 42 0 5.8 -2.0
QABA First Trust NASDAQ ABA Community Bank Index Fund 15.0 60 -18 7.4 -0.3
JHMF John Hancock Multifactor Financials ETF 13.8 40 2 6.4 -1.4
RFV Invesco S&P Midcap 400 Pure Value ETF 13.6 35 7 8.9 +1.2
FNCL Fidelity MSCI Financials Index ETF 13.1 8 34 7.1 -0.6
FOVL iShares Focused Value Factor ETF 13.1 25 17 7.7 -0.1
WBIY WBI Power Factor High Dividend ETF 12.8 70 -28 8.4 +0.6
VFH Vanguard Financials Index Fund 12.5 10 32 7.1 -0.7
IJJ iShares S&P Mid-Cap 400 Value ETF 12.0 18 24 6.9 -0.9
MDYV SPDR S&P 400 Mid Cap Value ETF 12.0 15 27 6.9 -0.8
AUSF Global X Adaptive U.S. Factor ETF 11.7 27 15 8.0 +0.3
PFI Invesco DWA Financial Momentum ETF 11.3 60 -18 4.9 -2.8
QDIV Global X S&P 500 Quality Dividend ETF 11.2 20 22 6.5 -1.2
XLF Financial Select Sector SPDR Fund 11.1 13 29 6.7 -1.1
FDL First Trust Morningstar Dividend Leaders Index Fund 11.0 45 -3 9.1 +1.4
IVOV Vanguard S&P Mid-Cap 400 Value ETF 10.9 15 27 6.7 -1.0
JKL iShares Morningstar Small Cap Value ETF 10.8 30 12 7.6 -0.2
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 10.6 60 -18 6.2 -1.6
SCHD Schwab U.S. Dividend Equity ETF 10.5 6 36 7.1 -0.6
PY Principal Shareholder Yield Index ETF 10.0 15 27 7.9 +0.1
DON WisdomTree U.S. MidCap Dividend Fund 9.9 38 4 6.7 -1.1
RPV Invesco S&P 500 Pure Value ETF 9.7 35 7 9.9 +2.1
FNK First Trust Mid Cap Value AlphaDEX Fund 9.7 70 -28 7.8 +0.0
SPGP Invesco S&P 500 GARP ETF 9.5 34 8 6.3 -1.5
RDIV Invesco S&P Ultra Dividend Revenue ETF 9.5 39 3 8.7 +1.0
IYF iShares U.S. Financials ETF 9.1 42 0 6.0 -1.8
NIFE Direxion Fallen Knives ETF 8.7 50 -8 4.2 -3.6
EZM WisdomTree U.S. MidCap Earnings Fund 8.5 38 4 7.6 -0.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 8.5 35 7 7.6 -0.2
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 8.4 35 7 7.7 -0.1
EWMC Invesco S&P MidCap 400 Equal Weight ETF 8.3 40 2 5.7 -2.1
DBLV AdvisorShares DoubleLine Value Equity ETF 8.1 91 -49 5.4 -2.4
ALTL Pacer Lunt Large Cap Alternator ETF 8.0 60 -18 5.5 -2.2
SPHB Invesco S&P 500 High Beta ETF 8.0 25 17 5.9 -1.8
JKJ iShares Morningstar Small-Cap ETF 7.9 25 17 5.1 -2.7
GBDV Global Beta Smart Income ETF 7.6 29 13 8.3 +0.5
AVUV Avantis U.S. Small Cap Value ETF 7.5 25 17 6.4 -1.4
FAB First Trust Multi Cap Value AlphaDEX Fund 7.5 71 -29 7.5 -0.2
PSC Principal U.S. Small Cap Index ETF 6.8 38 4 4.6 -3.2
DHS WisdomTree U.S. High Dividend Fund 6.8 38 4 8.4 +0.6
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 6.7 20 22 7.1 -0.6
BFOR Barron's 400 ETF 6.7 65 -23 5.6 -2.1
MDY SPDR S&P Midcap 400 ETF Trust 6.6 23 19 5.2 -2.6
SPMD SPDR Portfolio Mid Cap ETF 6.6 5 37 5.4 -2.4
IJH iShares Core S&P Mid-Cap ETF 6.6 5 37 5.4 -2.4
MAGA Point Bridge GOP Stock Tracker ETF 6.5 72 -30 5.3 -2.4
VBR Vanguard Small Cap Value Index Fund 6.5 7 35 6.4 -1.3
IVOO Vanguard S&P Mid-Cap 400 ETF 6.4 10 32 5.3 -2.4
BKSE BNY Mellon US Small Cap Core Equity ETF 6.4 4 38 4.7 -3.0
LVHD Legg Mason Low Volatility High Dividend ETF 6.4 27 15 7.7 -0.1
FTA First Trust Large Cap Value AlphaDEX Fund 6.3 60 -18 7.4 -0.4
FCTR First Trust Lunt U.S. Factor Rotation ETF 6.2 65 -23 1.2 -6.6
FUNL CornerCap Fundametrics Large-Cap ETF 6.1 50 -8 7.2 -0.6
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 6.1 15 27 6.0 -1.8
FYT First Trust Small Cap Value AlphaDEX Fund 6.0 72 -30 8.0 +0.2
JHSC John Hancock Multifactor Small Cap ETF 6.0 42 0 4.6 -3.2
FLV American Century Focused Large Cap Value ETF 5.9 42 0 5.8 -2.0
KVLE KFA Value Liner Dynamic Core Equity Index ETF 5.8 56 -14 5.7 -2.1
FNX First Trust Mid Cap Core AlphaDEX Fund 5.8 61 -19 5.1 -2.7
SPVU Invesco S&P 500 Enhanced Value ETF 5.6 13 29 9.5 +1.7
VFVA Vanguard U.S. Value Factor ETF 5.6 14 28 8.5 +0.7
FGD First Trust Dow Jones Global Select Dividend Index Fund 5.5 59 -17 10.0 +2.3
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 5.5 29 13 6.0 -1.7
IXG iShares Global Financials ETF 5.5 46 -4 8.5 +0.8
NUSC Nuveen ESG Small-Cap ETF 5.4 40 2 4.0 -3.7
JVAL JPMorgan U.S. Value Factor ETF 5.4 12 30 7.2 -0.6
XMHQ Invesco S&P MidCap Quality ETF 5.4 25 17 5.5 -2.3
XMVM Invesco S&P MidCap Value with Momentum ETF 5.2 39 3 8.2 +0.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 5.2 25 17 4.8 -2.9
ONEY SPDR Russell 1000 Yield Focus ETF 5.1 20 22 7.2 -0.5
RNMC Mid Cap US Equity Select ETF 5.1 60 -18 6.1 -1.7
HOMZ Hoya Capital Housing ETF 5.1 30 12 7.1 -0.7
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 5.0 17 25 4.1 -3.7
SDOG ALPS Sector Dividend Dogs ETF 4.9 40 2 8.7 +0.9
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 4.8 41 1 5.4 -2.4
IWS iShares Russell Mid-Cap Value ETF 4.8 24 18 6.0 -1.8
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 4.8 7 35 3.9 -3.8
ESGS Columbia Sustainable U.S. Equity Income ETF 4.7 35 7 7.5 -0.3
SDY SPDR S&P Dividend ETF 4.7 35 7 6.4 -1.4
NUMV Nuveen ESG Mid-Cap Value ETF 4.6 40 2 6.0 -1.7
ETHO Etho Climate Leadership U.S. ETF 4.5 47 -5 3.7 -4.1
PBSM Invesco PureBeta MSCI USA Small Cap ETF 4.4 6 36 4.1 -3.7
PWC Invesco Dynamic Market ETF 4.2 58 -16 3.1 -4.6
RYJ Invesco Raymond James SB-1 Equity ETF 4.1 76 -34 3.7 -4.1
SPDV AAM S&P 500 High Dividend Value ETF 4.1 29 13 8.4 +0.7
RVRS Reverse Cap Weighted U.S. Large Cap ETF 4.1 29 13 6.1 -1.6

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

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.3 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 7.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.63 CATEGORY
AVERAGE		 1.49
 
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.