iShares U.S. Regional Banks ETF
ALTAR
Score™		 15.1% info Recommen-
dation		 SPECULATIVE
2020E    2021E
P/E
ratio		 7.4x P/Sales
ratio		 1.8x
P/BV
ratio		 0.6x Div.
yield		 5.5%


  • 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) $188
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 58
Wgt avg mkt cap (mns) $19,951
Large cap (>$10bn) 54.0%
Mid cap ($2-10bn) 40.0%
Small cap (<$2bn) 6.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
US BANCORP 14.6 %
PNC FINANCIAL SERVICES GROUP 12.5 %
BB&T CORP 12.3 %
FIRST REPUBLIC BANK/CA 4.1 %
M & T BANK CORP 4.1 %
FIFTH THIRD BANCORP 3.1 %
KEYCORP 3.0 %
REGIONS FINANCIAL CORP 2.6 %
HUNTINGTON BANCSHARES INC 2.5 %
CITIZENS FINANCIAL GROUP, INC. 2.4 %
Total 61.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.5 %
PUERTO RICO 1.0 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-42.8% -31.4% -1.6% 3.6% -1.5%

Market Correlations
versus... Beta R-squared
S&P500 1.60 77%
MSCI EAFE 1.54 69%
MSCI Emg. Mkts. 1.18 59%

Technical Indicators
Recent close $27.45
30d moving avg. $35.17
Annualized volatility 27.9%
Short interest (ETF) 2.2%
Short interest (Underlying) 3.4%
Relative strength (RSI) 31

Liquidity measures
Avg. volume (thou.) 149
Turnover 2.2%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $2,803

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 15.1%


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 60.0 35 7 15.6 +0.5
KBE SPDR S&P Bank ETF 53.1 35 7 15.5 +0.5
FTXO First Trust Nasdaq Bank ETF 52.1 60 -18 15.0 -0.1
KBWB Invesco KBW Bank ETF 45.7 35 7 14.1 -1.0
KBWR Invesco KBW Regional Banking ETF 27.6 35 7 14.6 -0.4
FXO First Trust Financials AlphaDEX Fund 20.3 63 -21 13.9 -1.2
QABA First Trust NASDAQ ABA Community Bank Index Fund 17.8 60 -18 13.5 -1.5
RYF Invesco S&P 500 Equal Weight Financials ETF 17.5 40 2 11.9 -3.2
IYG iShares US Financial Services ETF 14.6 42 0 9.8 -5.3
IEFN iShares Evolved U.S. Financials ETF 13.8 18 24 12.1 -2.9
JHMF John Hancock Multifactor Financials ETF 12.8 40 2 10.7 -4.3
MDYV SPDR S&P 400 Mid Cap Value ETF 12.8 15 27 12.1 -3.0
IJJ iShares S&P Mid-Cap 400 Value ETF 12.8 25 17 12.0 -3.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 12.7 15 27 12.2 -2.9
DFNL Davis Select Financial ETF 12.5 64 -22 11.2 -3.9
VFH Vanguard Financials Index Fund 12.3 10 32 11.7 -3.4
FOVL iShares Focused Value Factor ETF 12.3 25 17 14.1 -1.0
FNCL Fidelity MSCI Financials Index ETF 11.9 8 34 11.7 -3.4
FNK First Trust Mid Cap Value AlphaDEX Fund 11.6 70 -28 15.9 +0.8
JKL iShares Morningstar Small Cap Value ETF 11.2 30 12 14.8 -0.3
PXMV Invesco S&P MidCap Value with Momentum ETF 10.9 39 3 13.7 -1.4
AUSF Global X Adaptive U.S. Factor ETF 10.5 27 15 10.5 -4.6
EZM WisdomTree U.S. MidCap Earnings Fund 10.1 38 4 13.8 -1.3
PY Principal Shareholder Yield Index ETF 9.9 29 13 12.6 -2.4
CVY Invesco Zacks Multi-Asset Income ETF 9.7 97 -55 18.3 +3.2
XLF Financial Select Sector SPDR Fund 9.7 13 29 10.8 -4.3
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 9.4 60 -18 12.8 -2.3
DON WisdomTree U.S. MidCap Dividend Fund 9.0 38 4 11.0 -4.1
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 8.7 35 7 11.3 -3.8
QVM Arrow QVM Equity Factor ETF 8.6 65 -23 14.5 -0.6
CLRG IQ Chaikin U.S. Large Cap ETF 8.6 25 17 11.5 -3.6
IYF iShares U.S. Financials ETF 8.1 42 0 9.3 -5.8
PVAL Principal Contrarian Value Index ETF 7.9 29 13 10.6 -4.5
SLT Salt TruBeta High Exposure ETF 7.6 29 13 12.3 -2.8
JHSC John Hancock Multifactor Small Cap ETF 7.5 50 -8 8.6 -6.5
CZA Invesco Zacks Mid-Cap ETF 7.3 76 -34 9.4 -5.7
FNX First Trust Mid Cap Core AlphaDEX Fund 7.3 61 -19 10.1 -5.0
VBR Vanguard Small Cap Value Index Fund 7.2 7 35 12.0 -3.1
RFV Invesco S&P Midcap 400 Pure Value ETF 7.1 35 7 16.6 +1.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 7.0 40 2 9.7 -5.4
JKI iShares Morningstar Mid-Cap Value ETF 6.7 30 12 13.5 -1.6
FTHI First Trust High Income ETF 6.6 85 -43 7.6 -7.5
MDY SPDR S&P Midcap 400 ETF Trust 6.5 23 19 8.9 -6.2
SPMD SPDR Portfolio Mid Cap ETF 6.5 5 37 9.1 -6.0
IJH iShares Core S&P Mid-Cap ETF 6.5 6 36 9.1 -6.0
IVOO Vanguard S&P Mid-Cap 400 ETF 6.5 10 32 9.0 -6.1
DVY iShares Select Dividend ETF 6.5 39 3 10.9 -4.2
AFMC First Trust Active Factor Mid Cap ETF 6.3 65 -23 9.7 -5.4
RNMC Mid Cap US Equity Select ETF 6.2 60 -18 10.0 -5.1
FAB First Trust Multi Cap Value AlphaDEX Fund 6.1 71 -29 13.3 -1.8
WBIY WBI Power Factor High Dividend ETF 6.0 70 -28 21.5 +6.4
AVUV Avantis U.S. Small Cap Value ETF 5.9 25 17 13.8 -1.3
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 5.7 40 2 7.9 -7.2
FTLB First Trust Hedged BuyWrite Income ETF 5.7 85 -43 7.5 -7.6
RPV Invesco S&P 500 Pure Value ETF 5.7 35 7 17.6 +2.6
MAGA Point Bridge GOP Stock Tracker ETF 5.6 72 -30 9.4 -5.7
SPYB SPDR S&P 500 Buyback ETF 5.4 35 7 11.6 -3.5
ESGS Columbia Sustainable U.S. Equity Income ETF 5.3 35 7 12.1 -3.0
VFVA Vanguard U.S. Value Factor ETF 5.2 13 29 16.5 +1.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 5.2 17 25 7.3 -7.8
EQRR ProShares Equities for Rising Rates ETF 5.0 35 7 11.7 -3.4
SDY SPDR S&P Dividend ETF 5.0 35 7 8.2 -6.9
SFYX Sofi Next 500 ETF 5.0 0 42 8.2 -6.9
SPGP Invesco S&P 500 GARP ETF 4.9 35 7 10.7 -4.3
SQLV Legg Mason Small-Cap Quality Value 4.9 62 -20 12.2 -2.9
USDY Pacific Global US Equity Income ETF 4.9 29 13 10.5 -4.6
IWS iShares Russell Mid-Cap Value ETF 4.9 24 18 10.0 -5.1
FTA First Trust Large Cap Value AlphaDEX Fund 4.9 60 -18 12.1 -3.0
DUSA Davis Select U.S. Equity ETF 4.8 63 -21 7.8 -7.3
JKJ iShares Morningstar Small-Cap ETF 4.8 25 17 9.0 -6.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 4.8 25 17 9.6 -5.5
SPYD SPDR S&P 500 High Dividend ETF 4.8 7 35 14.3 -0.7
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 4.7 15 27 8.9 -6.2
NULV Nuveen ESG Large-Cap Value ETF 4.7 35 7 9.3 -5.8
IXG iShares Global Financials ETF 4.6 46 -4 12.5 -2.6
TPHD Timothy Plan High Dividend Stock ETF 4.6 52 -10 9.4 -5.7
VFMF Vanguard U.S. Multifactor ETF 4.5 18 24 10.9 -4.2
LVHD Legg Mason Low Volatility High Dividend ETF 4.5 27 15 8.6 -6.4
QSY WisdomTree U.S. LargeCap Value Fund 4.4 38 4 9.6 -5.5
VTWV Vanguard Russell 2000 Value Index Fund 4.4 15 27 10.5 -4.6
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 4.4 29 13 9.2 -5.9
IWN iShares Russell 2000 Value ETF 4.4 24 18 10.3 -4.8
SCHA Schwab U.S. Small-Cap ETF 4.3 4 38 7.5 -7.6
HOMZ Hoya Capital Housing ETF 4.2 45 -3 11.2 -3.9
JVAL JPMorgan U.S. Value Factor ETF 4.2 12 30 11.9 -3.2
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 4.2 30 12 11.9 -3.2
NUSC Nuveen ESG Small-Cap ETF 4.1 40 2 7.6 -7.5
PBSM Invesco PureBeta MSCI USA Small Cap ETF 4.1 6 36 8.0 -7.1
VOE Vanguard Mid-Cap Value Index Fund 4.0 7 35 10.8 -4.2
SYLD Cambria Shareholder Yield ETF 4.0 59 -17 15.3 +0.3
VB Vanguard Small-Cap ETF 4.0 5 37 8.1 -7.0
VFLQ Vanguard U.S. Liquidity Factor ETF 4.0 13 29 5.5 -9.6
EQWM Invesco S&P MidCap Quality ETF 3.9 25 17 6.8 -8.3
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 3.9 20 22 10.3 -4.8
HDV iShares Core High Dividend ETF 3.8 8 34 8.1 -6.9
NUMV Nuveen ESG Mid-Cap Value ETF 3.8 40 2 11.9 -3.2
JHMM John Hancock Multifactor Mid Cap ETF 3.7 44 -2 8.3 -6.8
SCHM Schwab U.S. Mid-Cap ETF 3.7 4 38 9.0 -6.1
VFQY Vanguard U.S. Quality Factor ETF 3.6 13 29 8.5 -6.6
PSC Principal U.S. Small Cap Index ETF 3.6 38 4 11.1 -4.0

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 9.8 %
Divided by: Fwd. P/BV 0.6 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 15.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.66 CATEGORY
AVERAGE		 1.51
 
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.