iShares Global Clean Energy ETF
ALTAR
Score™
3.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
22.0x P/Sales
ratio
1.5x
P/BV
ratio
2.1x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares S&P Global Clean Energy Index Fund is an exchange-traded fund incorporat ed in the USA. The Fund seeks investment results that correspond to the price and yield performance of the S&P Global Clean Energy Index.

FUND BASICS
Category Global Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Jun 16, 2008
Assets (mns) $676
Currency USD
Expense ratio 46 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $5,430
Large cap (>$10bn) 15.9%
Mid cap ($2-10bn) 54.5%
Small cap (<$2bn) 28.4%
Developed mkts 76.6%
Emerging mkts 23.4%

TOP TEN HOLDINGS
ENPHASE ENERGY INC 8.8 %
SOLAREDGE TECHNOLOGIES, INC. 6.6 %
XINYI SOLAR HOLDINGS LTD 5.4 %
GAMESA CORP TECNOLOGICA SA 5.4 %
VESTAS WIND SYSTEMS A/S 5.4 %
ORMAT TECHNOLOGIES INC 4.6 %
MERIDIAN ENERGY LTD 4.2 %
OEST ELEKTRIZITATSWIRTS-A 4.1 %
PATTERN ENERGY GROUP INC 4.1 %
CEMIG SA -SPONS ADR 4.0 %
Total 52.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 41.1 %
CANADA 8.9 %
CHINA 8.7 %
NEW ZEALAND 7.6 %
BRAZIL 7.3 %
SPAIN 5.4 %
DENMARK 5.4 %
AUSTRIA 4.1 %
BRITAIN 3.6 %
NORWAY 3.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
3.2% 29.6% 6.6% -1.9% -9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.80 35%
MSCI EAFE 0.89 36%
MSCI Emg. Mkts. 0.78 47%

Technical Indicators
Recent close $13.61
30d moving avg. $12.73
Annualized volatility 16.4%
Short interest (ETF) 0.3%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 778
Turnover 1.6%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $816

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Global Clean Energy ETF ETF based on the alternatives' overlap in portfolio holdings with ICLN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ICLN Expense: 46 bp ALTAR Score™: 3.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ICLN
Ticker Fund
Name
Overlap1
vs ICLN
(%)
Expense
ratio
(bp)
Savings
vs ICLN
(bp)
ALTAR
Score™
(%)
ALTAR
vs ICLN
(%)
TAN Invesco Solar ETF 43.4 71 -25 1.1 -2.0
ACES ALPS Clean Energy ETF 39.9 65 -19 0.7 -2.5
XKCP SPDR Kensho Clean Power ETF 33.0 45 1 -7.7 -10.8
PBW Invesco WilderHill Clean Energy ETF 30.7 70 -24 -0.7 -3.8
PBD Invesco Global Clean Energy ETF 28.7 75 -29 0.4 -2.7
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 27.1 60 -14 1.3 -1.9
GEX VanEck Vectors Global Alternative Energy ETF 23.7 63 -17 3.5 +0.4
FAN First Trust Global Wind Energy ETF 22.7 60 -14 5.2 +2.0
YLCO Global X YieldCo Index ETF 20.2 65 -19 4.1 +1.0
PZD Invesco Cleantech ETF 15.9 68 -22 4.3 +1.2
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 14.8 70 -24 4.4 +1.2
ITEQ BlueStar Israel Technology ETF 10.6 75 -29 1.9 -1.3
WOMN Impact Shares YWCA Women's Empowerment ETF 9.2 75 -29 4.9 +1.8
KGRN KraneShares MSCI China Environment Index ETF 9.2 80 -34 7.4 +4.3
SDGA Impact Shares Sustainable Development Goals Global ETF 8.9 75 -29 5.2 +2.0
NACP Impact Shares NAACP Minority Empowerment ETF 7.8 75 -29 5.0 +1.9
ENZL iShares MSCI New Zealand Capped ETF 7.6 50 -4 2.6 -0.6
GHII Invesco S&P High Income Infrastructure ETF 6.1 45 1 5.0 +1.8
KOMP SPDR Kensho New Economies Composite ETF 6.0 20 26 2.0 -1.1
ISRA VanEck Vectors Israel ETF 5.7 60 -14 7.1 +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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Global Clean Energy ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.4 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 3.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.