iShares Core MSCI EAFE
ALTAR
Score™
7.1% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
15.1x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
3.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares Core MSCI EAFE ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the MSCI EAFE Investable Market Index.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Oct 18, 2012
Assets (mns) $70,159
Currency USD
Expense ratio 7 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 2458
Wgt avg mkt cap (mns) $55,068
Large cap (>$10bn) 73.6%
Mid cap ($2-10bn) 20.6%
Small cap (<$2bn) 5.6%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 1.9 %
ROCHE HOLDING AG-GENUSSCHEIN 1.2 %
NOVARTIS AG-REG 1.1 %
TOYOTA MOTOR CORP 1.0 %
HSBC HOLDINGS PLC 0.9 %
SAP AG 0.8 %
BP PLC 0.8 %
ROYAL DUTCH SHELL PLC-A SHS 0.8 %
TOTAL SA 0.8 %
LVMH MOET HENNESSY LOUIS VUI 0.7 %
Total 9.9 %

TOP COUNTRY EXPOSURE
JAPAN 25.1 %
BRITAIN 15.4 %
FRANCE 9.2 %
SWITZERLAND 8.8 %
GERMANY 8.1 %
AUSTRALIA 6.6 %
NETHERLANDS 4.2 %
HONG KONG 2.9 %
SWEDEN 2.8 %
SPAIN 2.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
17.2% 11.2% 4.7% -- 7.0%

Market Correlations
versus... Beta R-squared
S&P500 0.75 66%
MSCI EAFE 0.99 98%
MSCI Emg. Mkts. 0.70 79%

Technical Indicators
Recent close $63.70
30d moving avg. $63.27
Annualized volatility 11.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 7,555
Turnover 0.7%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $56,164

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IEFA Expense: 7 bp ALTAR Score™: 7.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEFA
Ticker Fund
Name
Overlap1
vs IEFA
(%)
Expense
ratio
(bp)
Savings
vs IEFA
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEFA
(%)
PBDM Invesco PureBeta FTSE Developed ex-North America 86.8 7 0 7.6 +0.5
IDEV iShares Core MSCI Int'l Developed Markets 84.7 5 2 7.2 +0.0
EFA iShares MSCI EAFE 84.3 31 -24 7.0 -0.1
SCHF Schwab International Equity 84.0 6 1 7.5 +0.3
DBEF Xtrackers MSCI EAFE Hedged 83.8 35 -28 6.9 -0.2
HFXI IQ 50 Percent Hedged FTSE Int'l 79.7 20 -13 7.3 +0.2
VEA Vanguard Europe Pacific 79.6 5 2 7.4 +0.3
EFAX SPDR MSCI EAFE Fossil Fuel Free 77.8 20 -13 7.2 +0.1
SPDW SPDR Portfolio World ex-US 76.7 4 3 7.2 +0.1
JHMD John Hancock Multifactor Developed International 66.3 45 -38 7.3 +0.2
ACWX iShares MSCI ACWI ex-US 65.4 31 -24 7.5 +0.4
IXUS iShares Core International Stock 65.2 9 -2 7.5 +0.4
VEU Vanguard FTSE All-World ex-US 65.0 9 -2 7.6 +0.5
DBAW Xtrackers MSCI All World ex-US Hedged 64.0 40 -33 7.3 +0.2
PXF Invesco FTSE-RAFI Developed ex-US 63.0 45 -38 8.2 +1.1
DWM WisdomTree DEFA Fund 62.7 48 -41 7.7 +0.6
ESGD iShares MSCI EAFE ESG Optimized 61.8 20 -13 6.9 -0.2
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 61.6 35 -28 7.9 +0.8
VXUS Vanguard Total International Stock 61.5 9 -2 7.6 +0.5
FNDF Schwab Fundamental Intl Large Cap 61.0 25 -18 7.6 +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 Core MSCI EAFE
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 10.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.63
 
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.