iShares DJ US Regional Banks
ALTAR
Score™
7.5% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
12.1x P/Sales
ratio
3.7x
P/BV
ratio
1.4x Div.
yield
2.9%


  • 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 05, 2006
Assets (mns) $404
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 60
Wgt avg mkt cap (mns) $33,557
Large cap (>$10bn) 67.9%
Mid cap ($2-10bn) 31.8%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
US BANCORP 14.8 %
PNC FINANCIAL SERVICES GROUP 11.7 %
BB&T CORP 7.3 %
SUNTRUST BANKS INC 5.5 %
FIFTH THIRD BANCORP 3.8 %
M & T BANK CORP 3.8 %
KEYCORP 3.3 %
FIRST REPUBLIC BANK/CA 3.2 %
CITIZENS FINANCIAL GROUP, INC. 3.0 %
REGIONS FINANCIAL CORP 2.9 %
Total 59.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.7 %
PUERTO RICO 0.9 %









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.
21.5% 6.1% 9.2% 11.2% 2.1%

Market Correlations
versus... Beta R-squared
S&P500 1.46 60%
MSCI EAFE 1.08 28%
MSCI Emg. Mkts. 0.65 17%

Technical Indicators
Recent close $49.30
30d moving avg. $47.83
Annualized volatility 22.7%
Short interest (ETF) 0.2%
Short interest (Underlying) 3.4%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 83
Turnover 1.0%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $2,894

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares DJ US Regional Banks 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™: 7.5%


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 KBW Regional Banking 62.9 35 7 8.3 +0.8
KBE KBW Bank ETF 54.7 35 7 8.4 +0.8
FTXO First Trust Nasdaq Bank 51.0 60 -18 7.8 +0.3
KBWB Invesco KBW Bank Portfolio 46.8 35 7 7.7 +0.2
KBWR Invesco KBW Regional Bank 27.1 35 7 8.7 +1.2
RYF Invesco S&P Equal Weight Financials 22.4 40 2 7.5 -0.0
FXO First Trust Financial Alphadex 20.8 63 -21 8.0 +0.5
QABA First Trust NASDAQ ABA Community Bank 18.7 60 -18 8.2 +0.7
IYG iShares DJ US Financial Services 17.4 42 0 6.5 -1.0
IEFN iShares Evolved U.S. Financials 16.8 18 24 7.4 -0.1
JHMF John Hancock Multifactor Financials 16.6 40 2 6.7 -0.8
FNCL Fidelity MSCI Financials 14.0 8 34 7.4 -0.1
VFH Vanguard Financials 13.9 10 32 7.4 -0.1
FNK First Trust Mid Cap Value AlphaDEX 12.8 70 -28 9.1 +1.5
DFNL Davis Select Financial 12.6 64 -22 6.8 -0.8
MDYV SPDR S&P400 Mid Cap Value 12.2 15 27 7.6 +0.1
IJJ iShares S&P MidCap 400 Value 12.2 25 17 7.5 -0.0
IVOV Vanguard S&P Mid-Cap 400 Value 12.0 20 22 7.6 +0.1
JKL iShares Morningstar Small Cap Value 11.9 30 12 9.1 +1.5
PY Principal Shareholder Yield 11.8 29 13 8.0 +0.4

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 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
  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 DJ US Regional Banks
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 10.2 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 CATEGORY
AVERAGE
1.55
 
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.