iShares Core MSCI EAFE ETF
ALTAR
Score™		 7.4% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 21.8x P/Sales
ratio		 1.2x
P/BV
ratio		 1.4x Div.
yield		 2.8%


  • 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) $71,395
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 2550
Wgt avg mkt cap (mns) $55,854
Large cap (>$10bn) 73.6%
Mid cap ($2-10bn) 20.1%
Small cap (<$2bn) 5.4%
Developed mkts 99.7%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 2.1 %
ROCHE HOLDING AG-GENUSSCHEIN 1.4 %
NOVARTIS AG-REG 1.1 %
ASML HOLDING NV 1.0 %
SAP AG 0.9 %
TOYOTA MOTOR CORP 0.9 %
LVMH MOET HENNESSY LOUIS VUI 0.9 %
ASTRAZENECA PLC 0.8 %
NOVO NORDISK A/S-B 0.7 %
AIA GROUP LTD 0.7 %
Total 10.6 %

TOP COUNTRY EXPOSURE
JAPAN 25.5 %
BRITAIN 12.9 %
SWITZERLAND 9.6 %
FRANCE 8.9 %
GERMANY 8.7 %
AUSTRALIA 6.8 %
NETHERLANDS 4.4 %
SWEDEN 3.5 %
HONG KONG 2.9 %
DENMARK 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.5% 1.3% 5.6% -- 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.81 83%
MSCI EAFE 0.97 98%
MSCI Emg. Mkts. 0.70 80%

Technical Indicators
Recent close $60.33
30d moving avg. $61.05
Annualized volatility 15.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 8,213
Turnover 0.7%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $56,140

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares Core MSCI EAFE ETF 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™: 7.4%


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 ETF 86.7 7 0 7.6 +0.2
IDEV iShares Core MSCI International Developed Markets ETF 84.9 5 2 7.3 -0.1
EFA iShares MSCI EAFE ETF 84.4 32 -25 7.1 -0.2
SCHF Schwab International Equity ETF 83.8 6 1 7.3 -0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 83.8 35 -28 7.0 -0.4
GSID Goldman Sachs MarketBeta International Equity ETF 81.8 20 -13 7.4 +0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 80.5 20 -13 7.5 +0.2
VEA Vanguard FTSE Developed Markets ETF 79.5 5 2 7.5 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 78.6 20 -13 7.2 -0.2
SPDW SPDR Portfolio Developed World ex-US ETF 75.5 4 3 7.2 -0.2
BKIE BNY Mellon International Equity ETF 72.3 4 3 7.5 +0.2
JHMD John Hancock Multifactor Developed International ETF 66.9 39 -32 7.4 +0.0
ESGD iShares MSCI EAFE ESG Optimized ETF 65.6 20 -13 7.0 -0.4
ACWX iShares MSCI ACWI ex U.S. ETF 62.5 32 -25 7.3 -0.1
IXUS ishares Core MSCI Total International Stock ETF 62.1 9 -2 7.4 +0.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 61.3 40 -33 7.1 -0.3
VSGX Vanguard ESG International Stock ETF 61.2 17 -10 7.1 -0.3
VEU Vanguard FTSE All-World ex-US Index Fund 61.1 8 -1 7.6 +0.2
QEFA SPDR MSCI EAFE Quality Mix ETF 60.8 30 -23 6.9 -0.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 60.3 45 -38 9.0 +1.6
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 59.6 39 -32 8.4 +1.1
IQSI IQ Candriam ESG International Equity ETF 59.2 15 -8 7.5 +0.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 59.1 25 -18 6.7 -0.6
IEUR iShares Core MSCI Europe ETF 58.8 9 -2 7.4 +0.1
FEU SPDR Portfolio Europe ETF 58.2 9 -2 7.5 +0.2
VGK Vanguard FTSE Europe ETF 57.9 8 -1 7.6 +0.2
CWI SPDR MSCI ACWI ex-US ETF 57.9 30 -23 7.2 -0.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 57.6 39 -32 6.6 -0.7
DWM WisdomTree International Equity Fund 56.5 48 -41 8.5 +1.2
FNDF Schwab Fundamental International Large Co. Index ETF 56.4 25 -18 8.8 +1.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 56.2 35 -28 8.8 +1.5
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 55.1 35 -28 6.9 -0.5
VXUS Vanguard Total International Stock Index Fund 54.8 8 -1 7.6 +0.2
AVDE Avantis International Equity ETF 54.3 23 -16 7.7 +0.4
PDEV Principal International Multi-Factor Core Index ETF 54.0 25 -18 8.0 +0.7
FLEH Franklin FTSE Europe Hedged ETF 53.6 9 -2 7.3 -0.1
FLEE Franklin FTSE Europe ETF 53.6 9 -2 7.2 -0.2
BBEU JPMorgan BetaBuilders Europe ETF 52.6 9 -2 7.5 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 51.9 45 -38 6.9 -0.5
IEV iShares Europe ETF 50.1 59 -52 7.0 -0.3
DOL WisdomTree International LargeCap Dividend Fund 48.1 48 -41 9.0 +1.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 47.5 25 -18 6.6 -0.8
ISZE iShares Edge MSCI Intl Size Factor ETF 47.4 30 -23 7.3 -0.0
EFG iShares MSCI EAFE Growth ETF 46.3 40 -33 4.6 -2.8
ISDX Invesco Strategic Developed ex-US ETF 45.4 23 -16 7.5 +0.1
CIL VictoryShares International Volatility Weighted Index ETF 45.1 45 -38 7.0 -0.3
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 44.9 45 -38 7.0 -0.3
EFV iShares MSCI EAFE Value ETF 44.4 39 -32 9.8 +2.5
DMXF iShares ESG Advanced MSCI EAFE ETF 43.4 12 -5 7.0 -0.4
IQIN IQ 500 International ETF 42.6 25 -18 8.8 +1.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 42.1 14 -7 7.1 -0.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 41.9 16 -9 7.0 -0.4
IDY Pacific Global International Equity Income ETF 40.0 39 -32 8.2 +0.9
PQIN PGIM QMA Strategic Alpha International Equity ETF 37.1 29 -22 7.9 +0.6
RESD WisdomTree International ESG Fund 36.7 30 -23 6.9 -0.5
VPL Vanguard FTSE Pacific ETF 36.5 8 -1 7.4 +0.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 36.4 24 -17 7.0 -0.4
RNDM Developed International Equity Select ETF 34.6 65 -58 6.3 -1.1
IPAC iShares Core MSCI Pacific ETF 34.1 9 -2 7.2 -0.2
TPIF Timothy Plan International ETF 33.1 62 -55 6.4 -1.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 32.9 30 -23 6.1 -1.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 32.7 30 -23 4.5 -2.9
VYMI Vanguard International High Dividend Yield ETF 32.6 27 -20 10.2 +2.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.6 42 -35 5.2 -2.2
SCID Global X Scientific Beta Europe ETF 32.4 39 -32 0.0 -7.4
QWLD SPDR MSCI World StrategicFactors ETF 30.7 30 -23 6.1 -1.3
RBIN Nationwide Risk-Based International Equity ETF 30.0 42 -35 6.1 -1.2
EFAV iShares Edge MSCI Min Vol EAFE ETF 29.8 20 -13 5.4 -1.9
URTH iShares MSCI World ETF 29.7 24 -17 5.5 -1.8
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 29.5 45 -38 6.9 -0.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 29.3 45 -38 6.6 -0.8
JPIN JPMorgan Diversified Return International Equity ETF 27.8 37 -30 7.9 +0.5
QINT American Century Quality Diversified International ETF 27.2 39 -32 6.2 -1.1
EZU iShares MSCI Eurozone ETF 27.1 49 -42 6.8 -0.6
VGFO Virtus WMC Global Factor Opportunities ETF 27.1 49 -42 8.2 +0.9
NUDM Nuveen ESG International Developed Markets Equity ETF 26.9 40 -33 6.9 -0.5
EURZ Xtrackers Eurozone Equity ETF 26.4 9 -2 7.2 -0.1
ACWI iShares MSCI ACWI ETF 26.1 32 -25 5.7 -1.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.0 29 -22 7.8 +0.4
FDEV Fidelity Targeted International Factor ETF 25.9 39 -32 6.6 -0.7
IGRO iShares International Dividend Growth ETF 25.6 22 -15 8.5 +1.1
VT Vanguard Total World Stock Index Fund 25.3 8 -1 6.0 -1.4
IVLU iShares Edge MSCI Intl Value Factor ETF 25.3 30 -23 11.7 +4.4
LOWC SPDR MSCI ACWI Low Carbon Target ETF 25.2 20 -13 6.0 -1.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 25.0 20 -13 6.0 -1.4
DTH WisdomTree DEFA Equity Income Fund 24.5 58 -51 10.1 +2.8
IDHQ Invesco S&P International Developed Quality ETF 24.3 29 -22 5.1 -2.2
TOK iShares MSCI Kokusai ETF 24.0 25 -18 5.4 -1.9
FLJP Franklin FTSE Japan ETF 23.7 9 -2 7.4 +0.1
OEUR O'shares FTSE Europe Quality Dividend ETF 23.6 48 -41 7.0 -0.4
FLJH Franklin FTSE Japan Hedged ETF 23.6 9 -2 7.3 -0.0
KOKU Xtrackers MSCI Kokusai Equity ETF 23.6 9 -2 5.6 -1.8
UIVM VictoryShares USAA MSCI International Value Momentum ETF 22.6 35 -28 8.7 +1.4
RFDI First Trust Riverfront Dynamic Developed International ETF 22.5 83 -76 5.8 -1.6
FIVA Fidelity International Value Factor ETF 22.3 39 -32 10.1 +2.8
BBJP JPMorgan BetaBuilders Japan ETF 22.2 19 -12 7.3 -0.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 22.0 9 -2 5.8 -1.6
IDLV Invesco S&P International Developed Low Volatility ETF 21.9 25 -18 6.6 -0.8
EWJ iShares MSCI Japan ETF 21.8 49 -42 7.0 -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

  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 EAFE 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 9.8 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.57
 
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.