iShares Evolved U.S. Financials ETF
ALTAR
Score™
7.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
18.1x P/Sales
ratio
2.1x
P/BV
ratio
1.4x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Evolved U.S. Financials ETF is an actively managed, market-cap-weighted fund of large-, mid-, and small-cap US stocks in the financial sector, according to an alternative classification system defined by machine learning algorithms.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Mar 21, 2018
Assets (mns) $5
Currency USD
Expense ratio 18 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 290
Wgt avg mkt cap (mns) $96,251
Large cap (>$10bn) 80.3%
Mid cap ($2-10bn) 16.7%
Small cap (<$2bn) 3.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BANK OF AMERICA CORP 4.8 %
JPMORGAN CHASE & CO 4.7 %
WELLS FARGO & CO 4.1 %
CITIGROUP INC 3.2 %
MORGAN STANLEY 3.0 %
GOLDMAN SACHS GROUP INC 2.9 %
BERKSHIRE HATHAWAY INC-CL B 2.6 %
BB&T CORP 2.3 %
SCHWAB (CHARLES) CORP 2.2 %
US BANCORP 2.2 %
Total 31.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.1 %
BERMUDA 1.7 %
BRITAIN 1.1 %
PUERTO RICO 0.3 %







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.
-1.5% -1.5% -- -- 4.0%

Market Correlations
versus... Beta R-squared
S&P500 1.23 86%
MSCI EAFE 1.22 84%
MSCI Emg. Mkts. 0.99 69%

Technical Indicators
Recent close $26.65
30d moving avg. $25.40
Annualized volatility 25.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.0%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $37,806

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the iShares Evolved U.S. Financials ETF ETF based on the alternatives' overlap in portfolio holdings with IEFN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IEFN Expense: 18 bp ALTAR Score™: 7.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEFN
Ticker Fund
Name
Overlap1
vs IEFN
(%)
Expense
ratio
(bp)
Savings
vs IEFN
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEFN
(%)
FNCL Fidelity MSCI Financials Index ETF 71.0 8 10 7.1 -0.4
VFH Vanguard Financials Index Fund 68.8 10 8 7.1 -0.4
JHMF John Hancock Multifactor Financials ETF 65.4 40 -22 6.4 -1.1
XLF Financial Select Sector SPDR Fund 62.2 13 5 6.7 -0.8
IYF iShares U.S. Financials ETF 55.5 42 -24 6.0 -1.5
IYG iShares US Financial Services ETF 55.1 42 -24 5.8 -1.7
RYF Invesco S&P 500 Equal Weight Financials ETF 48.7 40 -22 7.5 -0.0
IXG iShares Global Financials ETF 39.6 46 -28 8.5 +1.1
SPVU Invesco S&P 500 Enhanced Value ETF 38.0 13 5 9.5 +2.0
FXO First Trust Financials AlphaDEX Fund 36.3 63 -45 9.1 +1.6
PKW Invesco Buyback Achievers ETF 31.4 62 -44 5.4 -2.0
KBWB Invesco KBW Bank ETF 30.7 35 -17 7.7 +0.2
DFNL Davis Select Financial ETF 29.0 64 -46 6.7 -0.8
RPV Invesco S&P 500 Pure Value ETF 28.7 35 -17 9.9 +2.4
KBE SPDR S&P Bank ETF 26.7 35 -17 8.1 +0.6
VOOV Vanguard S&P 500 Value ETF 26.5 10 8 6.6 -0.9
VFVA Vanguard U.S. Value Factor ETF 25.5 14 4 8.5 +1.0
RAFE PIMCO RAFI ESG U.S. ETF 25.4 30 -12 6.7 -0.8
PWV Invesco Dynamic Large Cap Value ETF 25.3 56 -38 6.8 -0.7
VLU SPDR S&P 1500 Value Tilt ETF 24.9 12 6 6.2 -1.3
MGV Vanguard Mega Cap Value ETF 24.6 7 11 6.4 -1.0
FAB First Trust Multi Cap Value AlphaDEX Fund 24.5 71 -53 7.5 +0.1
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 24.4 15 3 6.0 -1.5
DIVB iShares U.S. Dividend & Buyback ETF 24.3 25 -7 5.9 -1.6
IUSV iShares Core S&P U.S. Value ETF 24.2 4 14 6.4 -1.1
SPYV SPDR Portfolio S&P 500 Value ETF 24.2 4 14 6.4 -1.1
IVE iShares S&P 500 Value ETF 24.2 18 0 6.3 -1.2
VTV Vanguard Value Index Fund 24.0 4 14 6.5 -1.0
IWX iShares Russell Top 200 Value ETF 24.0 20 -2 6.0 -1.4
VONV Vanguard Russell 1000 Value Index Fund 23.6 8 10 6.1 -1.3
FTA First Trust Large Cap Value AlphaDEX Fund 23.5 60 -42 7.4 -0.1
VYM Vanguard High Dividend Yield Index ETF 22.7 6 12 6.6 -0.9
IWD iShares Russell 1000 Value ETF 22.5 19 -1 6.0 -1.4
DGRO iShares Core Dividend Growth ETF 22.2 8 10 6.0 -1.5
EPS WisdomTree U.S. Earnings 500 Fund 20.7 8 10 6.0 -1.5
PRF Invesco FTSE RAFI US 1000 ETF 20.4 39 -21 5.8 -1.6
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 20.4 35 -17 7.6 +0.1
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 20.4 35 -17 7.7 +0.2
VTRN Victory Portfolios II VictoryShares Top Veteran Employers ET 20.4 60 -42 6.2 -1.3
SCHV Schwab U.S. Large-Cap Value ETF 20.1 4 14 6.1 -1.4
DUSA Davis Select U.S. Equity ETF 19.9 63 -45 5.6 -1.9
ESGV Vanguard ESG U.S. Stock ETF 19.7 12 6 4.6 -2.9
VETS Pacer Military Times Best Employers ETF 19.5 60 -42 6.1 -1.4
RWL Invesco S&P 500 Revenue ETF 19.4 39 -21 6.3 -1.2
REVS Columbia Research Enhanced Value ETF 19.4 19 -1 6.7 -0.8
KIE SPDR S&P Insurance ETF 19.3 35 -17 8.1 +0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 19.2 25 -7 5.8 -1.7
RDVY First Trust Rising Dividend Achievers ETF 19.0 50 -32 6.4 -1.0
PY Principal Shareholder Yield Index ETF 18.9 15 3 7.9 +0.4
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 18.7 29 -11 6.0 -1.4
KCE SPDR S&P Capital Markets ETF 18.7 35 -17 7.0 -0.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 18.7 25 -7 5.7 -1.8
JKF iShares Morningstar Large Cap Value ETF 18.6 25 -7 6.6 -0.9
ALTL Pacer Lunt Large Cap Alternator ETF 18.5 60 -42 5.5 -1.9
SPHB Invesco S&P 500 High Beta ETF 18.5 25 -7 5.9 -1.6
EQWL Invesco Russell Top 200 Equal Weight ETF 18.4 25 -7 5.6 -1.8
FUNL CornerCap Fundametrics Large-Cap ETF 18.4 50 -32 7.2 -0.3
FCTR First Trust Lunt U.S. Factor Rotation ETF 18.4 65 -47 1.2 -6.3
FDL First Trust Morningstar Dividend Leaders Index Fund 18.1 45 -27 9.1 +1.7
EQRR ProShares Equities for Rising Rates ETF 18.0 35 -17 6.1 -1.4
CLRG IQ Chaikin U.S. Large Cap ETF 17.7 25 -7 5.0 -2.4
DTD WisdomTree U.S.Total Dividend Fund 17.6 28 -10 6.3 -1.2
JVAL JPMorgan U.S. Value Factor ETF 17.6 12 6 7.2 -0.3
SPVM Invesco S&P 500 Value with Momentum ETF 17.4 39 -21 7.8 +0.3
FTXO First Trust Nasdaq Bank ETF 17.3 60 -42 6.6 -0.9
SPXT ProShares S&P 500 Ex-Technology ETF 17.3 27 -9 4.9 -2.6
TUSA First Trust Total US Market AlphaDEX ETF 17.2 70 -52 4.8 -2.7
LEND Amplify CrowdBureau Peer-to-Peer Lending & Crowdfunding ETF 17.1 65 -47 15.8 +8.3
SPGP Invesco S&P 500 GARP ETF 17.0 34 -16 6.3 -1.2
QUS SPDR MSCI USA StrategicFactors ETF 17.0 15 3 5.3 -2.2
FEX First Trust Large Cap Core AlphaDEX Fund 17.0 60 -42 4.7 -2.8
JKI iShares Morningstar Mid-Cap Value ETF 16.9 30 -12 7.6 +0.1
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 16.9 25 -7 5.0 -2.5
AVUS Avantis U.S. Equity ETF 16.8 15 3 4.9 -2.6
EQOP Natixis U.S. Equity Opportunities ETF 16.7 90 -72 4.0 -3.5
IAK iShares U.S. Insurance ETF 16.5 42 -24 7.7 +0.2
KRE SPDR S&P Regional Banking ETF 16.5 35 -17 7.3 -0.1
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 16.4 35 -17 5.1 -2.4
JHML John Hancock Multifactor Large Cap ETF 16.4 29 -11 4.9 -2.6
IWS iShares Russell Mid-Cap Value ETF 16.4 24 -6 6.0 -1.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 16.4 35 -17 5.1 -2.4
VBR Vanguard Small Cap Value Index Fund 16.3 7 11 6.4 -1.0
DLN WisdomTree U.S. LargeCap Dividend Fund 16.3 28 -10 6.2 -1.3
ESGS Columbia Sustainable U.S. Equity Income ETF 16.3 35 -17 7.5 0.0
RSP Invesco S&P 500 Equal Weight ETF 16.2 20 -2 5.6 -1.9
FVAL Fidelity Value Factor ETF 16.2 29 -11 6.9 -0.5
DBLV AdvisorShares DoubleLine Value Equity ETF 15.8 91 -73 5.4 -2.1
JKD iShares Morningstar Large-Cap ETF 15.7 20 -2 4.8 -2.6
EUSA iShares MSCI USA Equal Weighted ETF 15.7 15 3 5.1 -2.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 15.7 15 3 5.8 -1.7
SIZE iShares MSCI USA Size Factor ETF 15.7 15 3 5.2 -2.3
SLT Pacer Salt High TruBeta US Market ETF 15.6 60 -42 4.6 -2.9
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 15.5 49 -31 4.2 -3.2
SFY SoFi Select 500 ETF 15.4 0 18 4.6 -2.8
IAT iShares U.S. Regional Banks ETF 15.3 42 -24 7.8 +0.3
CATH Global X S&P 500 Catholic Values Custom ETF 15.3 29 -11 4.7 -2.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 15.3 9 9 5.0 -2.5

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 Evolved U.S. Financials ETF
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 9.9 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.49
 
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.