ETF Research Center

The iShares Self-Driving EV and Tech ETF tracks a market-cap selected and weighted index of equities related to self-driving vehicles.

FUND BASICS
Category	Global Equities
Fund Sponsor	BlackRock
Website	www.blackrock.com
Inception date	Apr 16, 2019
Assets (mns)	$31
Currency	USD
Expense ratio	47 bp
Distributions

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	103
Wgt avg mkt cap (mns)	$173,630
Large cap (>$10bn)	90.3%
Mid cap ($2-10bn)	8.0%
Small cap (<$2bn)	1.7%
Developed mkts	90.8%
Emerging mkts	9.2%

TOP TEN HOLDINGS
Total	41.0 %
SAMSUNG ELECTRONICS CO LTD	4.6 %
TESLA MOTORS INC	4.5 %
NVIDIA CORP	4.3 %
APPLE INC	4.3 %
QUALCOMM INC	4.2 %
ALPHABET INC. CLASS A	4.1 %
INTEL CORP	3.9 %
SIEMENS AG-REG	3.7 %
SCHNEIDER ELECTRIC SA	3.6 %
TOYOTA MOTOR CORP	3.6 %

TOP COUNTRY EXPOSURE
	UNITED STATES	43.0 %
	GERMANY	14.0 %
	JAPAN	11.8 %
	SOUTH KOREA	8.8 %
	FRANCE	4.4 %
	SWITZERLAND	4.0 %
	IRELAND	3.8 %
	NETHERLANDS	3.4 %
	SWEDEN	1.6 %
	BERMUDA	1.2 %

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.
9.1%	--	--	--	9.1%

Market Correlations
versus...	Beta	R-squared
S&P500	--	--
MSCI EAFE	--	--
MSCI Emg. Mkts.	--	--

Technical Indicators
Recent close	$28.41
30d moving avg.	$27.50
Annualized volatility	0.0%
Short interest (ETF)	1.1%
Relative strength (RSI)	73

Liquidity measures
Avg. volume (thou.)	3
Turnover	0.3%
Bid/Ask (% of price)	0.13%
ADV underlying (mns)	$25,294

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Self-driving EV & Tech ETF based on the alternatives' overlap in portfolio holdings with IDRV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

IDRV

Expense:

47 bp

ALTAR Score™:

8.2%

ALTERNATIVE ETFs BASED ON OVERLAP WITH IDRV
Ticker	Fund Name	Overlap¹ vs IDRV (%)	Expense ratio (bp)	Savings vs IDRV (bp)	ALTAR Score™ (%)	ALTAR vs IDRV (%)
DRIV	Global X Autonomous & Electric Vehicles	52.7	68	-21	6.9	-1.2
EKAR	Innovation Shares NextGen Vehicles & Technology	50.6	95	-48	6.6	-1.5
KARS	KraneShares Electric Vehicles & Future Mobility Index	34.6	70	-23	5.9	-2.2
CARZ	First Trust NASDAQ Global Auto	25.5	70	-23	14.0	+5.8
GMAN	Goldman Sachs Motif Manufacturing Revolution	25.0	50	-3	4.4	-3.7
SMH	VanEck Vectors Semiconductors	23.4	35	12	5.7	-2.4
SOXX	iShares PHLX SOX Semiconductor	23.4	46	1	5.4	-2.8
XNTK	SPDR NYSE Technology	23.1	35	12	4.7	-3.4
XKST	SPDR Kensho Smart Mobility	19.7	45	2	3.8	-4.4
QTEC	First Trust NASDAQ 100 Tech	19.1	57	-10	5.2	-3.0
GDAT	Goldman Sachs Motif Data-Driven World	18.9	50	-3	5.4	-2.8
AIQ	Global X Future Analytics Tech	18.5	68	-21	4.1	-4.1
IYW	iShares US Technology	18.4	42	5	4.6	-3.5
XSD	SPDR S&P Semiconductors	18.3	35	12	4.1	-4.1
ARKQ	ARK Industrial Innovation	17.5	75	-28	0.8	-7.4
JHMT	John Hancock Multifactor Technology	16.9	40	7	5.5	-2.7
QYLD	Global X NASDAQ 100 Covered Call ETF	16.8	60	-13	4.5	-3.7
QQQ	Invesco QQQ	16.4	20	27	4.7	-3.5
PSI	Invesco Dynamic Semiconductors	16.3	58	-11	5.3	-2.9
TDIV	First Trust NASDAQ Technology Dividend	15.9	50	-3	6.2	-2.0

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

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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 Self-driving EV & Tech
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	14.6	%
Divided by: Fwd. P/BV	1.7	x
Less: Expense ratio	47	bp
Equals: ALTAR Score	8.2	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.56	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.