iShares DJ US Regional Banks
ALTAR
Score™
7.3% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
12.6x P/Sales
ratio
3.8x
P/BV
ratio
1.4x Div.
yield
2.8%


  • 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) $397
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) $35,977
Large cap (>$10bn) 67.2%
Mid cap ($2-10bn) 32.4%
Small cap (<$2bn) 0.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
US BANCORP 13.7 %
BB&T CORP 13.1 %
PNC FINANCIAL SERVICES GROUP 11.7 %
M & T BANK CORP 3.7 %
FIFTH THIRD BANCORP 3.6 %
FIRST REPUBLIC BANK/CA 3.5 %
KEYCORP 3.4 %
CITIZENS FINANCIAL GROUP, INC. 3.1 %
REGIONS FINANCIAL CORP 2.7 %
HUNTINGTON BANCSHARES INC 2.6 %
Total 61.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.8 %
PUERTO RICO 1.0 %









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.
31.4% 31.4% 10.1% 11.4% 2.6%

Market Correlations
versus... Beta R-squared
S&P500 1.38 66%
MSCI EAFE 1.22 42%
MSCI Emg. Mkts. 0.80 32%

Technical Indicators
Recent close $49.90
30d moving avg. $50.50
Annualized volatility 20.6%
Short interest (ETF) 1.9%
Short interest (Underlying) 3.4%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 97
Turnover 1.2%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $2,235

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™: 7.3%


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 61.6 35 7 7.9 +0.6
KBE KBW Bank ETF 54.0 35 7 7.9 +0.6
FTXO First Trust Nasdaq Bank 52.7 60 -18 7.6 +0.2
KBWB Invesco KBW Bank Portfolio 46.5 35 7 7.5 +0.1
KBWR Invesco KBW Regional Bank 28.0 35 7 8.3 +0.9
FXO First Trust Financial Alphadex 22.8 63 -21 7.5 +0.2
RYF Invesco S&P Equal Weight Financials 20.2 40 2 6.9 -0.4
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy 17.2 75 -33 7.1 -0.3
QABA First Trust NASDAQ ABA Community Bank 16.9 60 -18 7.8 +0.5
IYG iShares DJ US Financial Services 16.7 42 0 6.1 -1.3
JHMF John Hancock Multifactor Financials 16.1 40 2 6.3 -1.0
IEFN iShares Evolved U.S. Financials 15.9 18 24 7.1 -0.2
MDYV SPDR S&P400 Mid Cap Value 14.3 15 27 7.6 +0.2
IJJ iShares S&P MidCap 400 Value 14.3 25 17 7.5 +0.1
FOVL iShares Focused Value Factor 13.7 25 17 8.4 +1.1
FNCL Fidelity MSCI Financials 13.5 8 34 7.1 -0.3
VFH Vanguard Financials 12.8 10 32 7.0 -0.3
FNK First Trust Mid Cap Value AlphaDEX 12.3 70 -28 8.6 +1.3
IVOV Vanguard S&P Mid-Cap 400 Value 12.2 20 22 7.1 -0.3
CVY Invesco Multi-Asset Income 12.1 97 -55 7.8 +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

Content on this tab for subscribers only

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 7.3 %
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.