iShares Core MSCI International Developed Markets ETF
ALTAR
Score™		 6.5% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 24.3x P/Sales
ratio		 1.4x
P/BV
ratio		 1.6x Div.
yield		 2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Core MSCI International Developed Markets ETF tracks a market-cap-weighted index of large-, mid-, and small-cap stocks from developed countries, excluding the US.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Mar 21, 2017
Assets (mns) $4,664
Currency USD
Expense ratio 5 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 2172
Wgt avg mkt cap (mns) $58,683
Large cap (>$10bn) 76.3%
Mid cap ($2-10bn) 18.6%
Small cap (<$2bn) 3.9%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
NESTLE SA-REG 1.6 %
ROCHE HOLDING AG-GENUSSCHEIN 1.2 %
ASML HOLDING NV 1.1 %
NOVARTIS AG-REG 1.0 %
LVMH MOET HENNESSY LOUIS VUI 0.8 %
AIA GROUP LTD 0.8 %
UNILEVER PLC 0.8 %
TOYOTA MOTOR CORP 0.7 %
ASTRAZENECA PLC 0.7 %
SOFTBANK GROUP CORP. 0.6 %
Total 9.3 %

TOP COUNTRY EXPOSURE
JAPAN 22.6 %
BRITAIN 12.7 %
CANADA 8.8 %
SWITZERLAND 8.3 %
FRANCE 8.0 %
GERMANY 7.1 %
AUSTRALIA 6.5 %
NETHERLANDS 4.0 %
SWEDEN 3.2 %
HONG KONG 2.6 %

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.
8.3% 8.3% -- -- 8.0%

Market Correlations
versus... Beta R-squared
S&P500 0.89 85%
MSCI EAFE 0.96 98%
MSCI Emg. Mkts. 0.76 78%

Technical Indicators
Recent close $63.33
30d moving avg. $62.27
Annualized volatility 18.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 214
Turnover 0.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $86,315

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the iShares Core MSCI International Developed Markets ETF ETF based on the alternatives' overlap in portfolio holdings with IDEV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IDEV Expense: 5 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IDEV
Ticker Fund
Name		 Overlap1
vs IDEV
(%)		 Expense
ratio
(bp)		 Savings
vs IDEV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IDEV
(%)
IEFA iShares Core MSCI EAFE ETF 85.2 7 -2 6.5 +0.0
SCHF Schwab International Equity ETF 83.9 6 -1 6.5 +0.1
DFAI Dimensional International Core Equity Market ETF 83.4 18 -13 6.4 -0.1
VEA Vanguard FTSE Developed Markets ETF 82.8 5 0 6.6 +0.1
SPDW SPDR Portfolio Developed World ex-US ETF 79.2 4 1 6.2 -0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 78.6 7 -2 6.5 +0.1
EFA iShares MSCI EAFE ETF 76.0 32 -27 6.2 -0.2
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 75.4 35 -30 6.1 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 74.4 20 -15 6.3 -0.1
BKIE BNY Mellon International Equity ETF 73.7 4 1 6.6 +0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 72.8 20 -15 6.4 -0.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 70.3 20 -15 6.4 -0.1
ACWX iShares MSCI ACWI ex U.S. ETF 66.1 32 -27 6.3 -0.2
IXUS ishares Core MSCI Total International Stock ETF 64.7 9 -4 6.4 -0.0
VSGX Vanguard ESG International Stock ETF 64.4 17 -12 6.3 -0.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 64.2 40 -35 6.1 -0.4
VEU Vanguard FTSE All-World ex-US Index Fund 64.1 8 -3 6.7 +0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 63.9 39 -34 7.4 +1.0
JHMD John Hancock Multifactor Developed International ETF 62.5 39 -34 6.6 +0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 62.2 45 -40 7.7 +1.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 62.1 25 -20 6.0 -0.5
ESGD iShares MSCI EAFE ESG Optimized ETF 61.7 20 -15 6.2 -0.3
CWI SPDR MSCI ACWI ex-US ETF 61.0 30 -25 6.2 -0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 57.7 39 -34 5.6 -0.9
PDEV Principal International Multi-Factor Core Index ETF 57.4 25 -20 7.1 +0.6
FNDF Schwab Fundamental International Large Co. Index ETF 57.0 25 -20 7.7 +1.2
AVDE Avantis International Equity ETF 56.2 23 -18 6.9 +0.5
IQSI IQ Candriam ESG International Equity ETF 56.1 15 -10 6.4 -0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 55.6 30 -25 6.0 -0.5
IEUR iShares Core MSCI Europe ETF 53.7 9 -4 6.6 +0.1
SPEU SPDR Portfolio Europe ETF 52.6 9 -4 6.8 +0.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 52.3 35 -30 6.0 -0.5
VGK Vanguard FTSE Europe ETF 52.3 8 -3 6.8 +0.3
VXUS Vanguard Total International Stock ETF 52.1 8 -3 6.6 +0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 49.6 30 -25 6.3 -0.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 48.9 40 -35 7.2 +0.8
FLEE Franklin FTSE Europe ETF 48.8 9 -4 6.5 +0.0
FLEH Franklin FTSE Europe Hedged ETF 48.8 9 -4 6.5 +0.1
DWM WisdomTree International Equity Fund 48.3 48 -43 7.2 +0.7
BBEU JPMorgan BetaBuilders Europe ETF 47.8 9 -4 6.7 +0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 47.2 45 -40 6.0 -0.5
ISDX Invesco RAFI Strategic Developed ex-US ETF 46.6 23 -18 6.3 -0.2
CIL VictoryShares International Volatility Weighted Index ETF 46.6 45 -40 6.4 -0.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 46.5 45 -40 6.4 -0.1
IEV iShares Europe ETF 45.7 59 -54 6.3 -0.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 43.4 25 -20 5.9 -0.6
IQIN IQ 500 International ETF 43.3 25 -20 7.7 +1.2
DOL WisdomTree International LargeCap Dividend Fund 42.5 48 -43 7.2 +0.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 42.1 16 -11 6.0 -0.5
EFV iShares MSCI EAFE Value ETF 41.9 39 -34 8.4 +2.0
DMXF iShares ESG Advanced MSCI EAFE ETF 41.2 12 -7 6.2 -0.3
EFG iShares MSCI EAFE Growth ETF 40.0 40 -35 4.1 -2.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 38.0 14 -9 6.1 -0.4
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 36.7 24 -19 6.5 +0.1
PQIN PGIM QMA Strategic Alpha International Equity ETF 34.5 29 -24 7.1 +0.6
ESGG FlexShares STOXX Global ESG Impact Index Fund 34.3 42 -37 4.6 -1.9
VYMI Vanguard International High Dividend Yield ETF 34.2 27 -22 9.0 +2.6
TPIF Timothy Plan International ETF 34.0 62 -57 6.1 -0.4
RESD WisdomTree International ESG Fund 33.5 30 -25 6.5 +0.0
URTH iShares MSCI World ETF 33.3 24 -19 5.0 -1.5
VPL Vanguard FTSE Pacific ETF 32.9 8 -3 6.4 -0.1
RNDM First Trust Developed International Equity Select ETF 32.8 65 -60 5.7 -0.8
QWLD SPDR MSCI World StrategicFactors ETF 32.4 30 -25 5.4 -1.1
IPAC iShares Core MSCI Pacific ETF 30.9 9 -4 6.3 -0.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 30.7 30 -25 5.2 -1.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 30.4 30 -25 4.1 -2.4
ACWI iShares MSCI ACWI ETF 28.7 32 -27 5.0 -1.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 28.7 45 -40 6.1 -0.3
IVLU iShares Edge MSCI Intl Value Factor ETF 28.4 30 -25 10.0 +3.6
RBIN Nationwide Risk-Based International Equity ETF 28.2 42 -37 6.0 -0.4
VT Vanguard Total World Stock ETF 28.0 8 -3 5.3 -1.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 27.8 20 -15 5.3 -1.2
TOK iShares MSCI Kokusai ETF 27.7 25 -20 4.9 -1.6
LOWC SPDR MSCI ACWI Low Carbon Target ETF 27.4 20 -15 5.3 -1.2
KOKU Xtrackers MSCI Kokusai Equity ETF 27.3 9 -4 5.0 -1.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.9 29 -24 7.3 +0.8
QINT American Century Quality Diversified International ETF 26.3 39 -34 5.7 -0.8
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 26.1 45 -40 6.0 -0.4
JPIN JPMorgan Diversified Return International Equity ETF 25.7 37 -32 7.0 +0.6
EFAV iShares Edge MSCI Min Vol EAFE ETF 25.4 20 -15 5.0 -1.5
VWID Virtus WMC International Dividend ETF 25.0 49 -44 7.4 +0.9
FDEV Fidelity Targeted International Factor ETF 24.4 39 -34 6.2 -0.3
EZU iShares MSCI Eurozone ETF 24.1 51 -46 6.0 -0.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 23.9 9 -4 5.1 -1.4
NUDM Nuveen ESG International Developed Markets Equity ETF 23.7 40 -35 5.9 -0.6
EURZ Xtrackers Eurozone Equity ETF 23.5 9 -4 6.6 +0.1
UIVM VictoryShares USAA MSCI International Value Momentum ETF 22.6 35 -30 7.7 +1.3
IGRO iShares International Dividend Growth ETF 22.0 15 -10 7.0 +0.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 21.5 32 -27 5.7 -0.8
DEW WisdomTree Global High Dividend Fund 21.3 58 -53 8.8 +2.4
FLJP Franklin FTSE Japan ETF 21.0 9 -4 6.5 +0.1
FLJH Franklin FTSE Japan Hedged ETF 21.0 9 -4 6.5 +0.0
EUDG WisdomTree Europe Quality Dividend Growth Fund 21.0 58 -53 6.5 +0.0
VIGI Vanguard International Dividend Appreciation ETF 20.6 20 -15 5.0 -1.4
FIVA Fidelity International Value Factor ETF 20.5 39 -34 8.8 +2.4
IOO iShares Global 100 ETF 20.4 40 -35 4.2 -2.2
IDHQ Invesco S&P International Developed Quality ETF 20.3 29 -24 4.7 -1.8

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 Core MSCI International Developed Markets ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.9 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 5 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.54
 
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.