iShares Evolved U.S. Financials ETF
ALTAR
Score™
9.4% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
15.7x P/Sales
ratio
1.6x
P/BV
ratio
1.1x Div.
yield
3.1%


  • 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) $4
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 288
Wgt avg mkt cap (mns) $74,245
Large cap (>$10bn) 78.2%
Mid cap ($2-10bn) 17.5%
Small cap (<$2bn) 4.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BANK OF AMERICA CORP 4.5 %
JPMORGAN CHASE & CO 4.4 %
WELLS FARGO & CO 4.4 %
CITIGROUP INC 3.6 %
GOLDMAN SACHS GROUP INC 2.7 %
BERKSHIRE HATHAWAY INC-CL B 2.7 %
US BANCORP 2.3 %
MORGAN STANLEY 2.2 %
BB&T CORP 2.2 %
PROGRESSIVE CORP 2.0 %
Total 30.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.4 %
BERMUDA 1.9 %
BRITAIN 1.6 %
PUERTO RICO 0.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-22.7% -14.1% -- -- -6.2%

Market Correlations
versus... Beta R-squared
S&P500 1.25 90%
MSCI EAFE 1.31 83%
MSCI Emg. Mkts. 0.97 70%

Technical Indicators
Recent close $20.12
30d moving avg. $20.65
Annualized volatility 25.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.0%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $44,756

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 9.4%


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
(%)
VFH Vanguard Financials Index Fund 70.9 10 8 8.8 -0.5
FNCL Fidelity MSCI Financials Index ETF 70.3 8 10 8.9 -0.5
JHMF John Hancock Multifactor Financials ETF 65.4 40 -22 7.8 -1.6
XLF Financial Select Sector SPDR Fund 61.1 13 5 8.3 -1.1
IYF iShares U.S. Financials ETF 52.7 42 -24 7.2 -2.2
IYG iShares US Financial Services ETF 52.7 42 -24 7.0 -2.4
RYF Invesco S&P 500 Equal Weight Financials ETF 49.4 40 -22 9.7 +0.3
IXG iShares Global Financials ETF 38.2 46 -28 9.9 +0.5
FXO First Trust Financials AlphaDEX Fund 38.0 63 -45 11.8 +2.4
SPVU Invesco S&P 500 Enhanced Value ETF 38.0 13 5 11.6 +2.3
KBWB Invesco KBW Bank ETF 29.5 35 -17 10.2 +0.9
DFNL Davis Select Financial ETF 29.1 64 -46 8.4 -1.0
PKW Invesco Buyback Achievers ETF 29.1 62 -44 6.8 -2.6
PWV Invesco Dynamic Large Cap Value ETF 27.2 55 -37 8.9 -0.5
RPV Invesco S&P 500 Pure Value ETF 25.3 35 -17 11.4 +2.0
RAFE PIMCO RAFI ESG U.S. ETF 24.4 29 -11 7.8 -1.6
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 23.8 15 3 6.9 -2.5
VLU SPDR S&P 1500 Value Tilt ETF 23.4 12 6 7.5 -1.9
KBE SPDR S&P Bank ETF 23.2 35 -17 11.8 +2.4
FTXO First Trust Nasdaq Bank ETF 22.9 60 -42 9.0 -0.4
SPVM Invesco S&P 500 Value with Momentum ETF 22.5 39 -21 9.2 -0.2
VOOV Vanguard S&P 500 Value ETF 22.5 15 3 7.4 -2.0
DIVB iShares U.S. Dividend & Buyback ETF 22.5 25 -7 6.6 -2.8
IUSV iShares Core S&P U.S. Value ETF 22.5 4 14 7.6 -1.8
IWX iShares Russell Top 200 Value ETF 22.3 20 -2 7.2 -2.2
SPYV SPDR Portfolio S&P 500 Value ETF 22.1 4 14 7.5 -1.9
IVE iShares S&P 500 Value ETF 22.1 18 0 7.3 -2.1
VONV Vanguard Russell 1000 Value Index Fund 22.0 8 10 7.4 -2.0
VTV Vanguard Value Index Fund 21.8 4 14 7.5 -1.9
VFVA Vanguard U.S. Value Factor ETF 21.7 14 4 11.7 +2.3
IWD iShares Russell 1000 Value ETF 21.5 19 -1 7.2 -2.2
MGV Vanguard Mega Cap Value ETF 21.5 7 11 7.3 -2.1
FAB First Trust Multi Cap Value AlphaDEX Fund 21.4 71 -53 9.8 +0.4
FTA First Trust Large Cap Value AlphaDEX Fund 21.4 60 -42 9.4 0.0
DGRO iShares Core Dividend Growth ETF 21.3 8 10 6.7 -2.7
KIE SPDR S&P Insurance ETF 21.1 35 -17 10.2 +0.8
ALTL Pacer Lunt Large Cap Alternator ETF 20.0 60 -42 9.3 -0.1
SPHB Invesco S&P 500 High Beta ETF 20.0 25 -7 9.7 +0.3
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 20.0 49 -31 9.5 +0.1
REVS Columbia Research Enhanced Value ETF 19.9 19 -1 7.8 -1.6
KCE SPDR S&P Capital Markets ETF 19.7 35 -17 8.8 -0.5
EPS WisdomTree U.S. Earnings 500 Fund 19.6 8 10 6.5 -2.9
PRF Invesco FTSE RAFI US 1000 ETF 19.5 39 -21 6.9 -2.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 19.3 35 -17 6.0 -3.4
DUSA Davis Select U.S. Equity ETF 19.2 63 -45 5.6 -3.8
VETS Pacer Military Times Best Employers ETF 18.8 60 -42 7.0 -2.4
RWL Invesco S&P 500 Revenue ETF 18.6 39 -21 7.3 -2.1
RDVY First Trust Rising Dividend Achievers ETF 18.5 50 -32 8.0 -1.4
JKF iShares Morningstar Large Cap Value ETF 18.5 25 -7 7.6 -1.8
TUSA First Trust Total US Market AlphaDEX ETF 18.4 70 -52 6.1 -3.3
CVY Invesco Zacks Multi-Asset Income ETF 18.3 97 -79 11.8 +2.4
CLRG IQ Chaikin U.S. Large Cap ETF 18.1 25 -7 6.1 -3.3
FEX First Trust Large Cap Core AlphaDEX Fund 18.1 60 -42 6.1 -3.3
VFLQ Vanguard U.S. Liquidity Factor ETF 18.1 14 4 4.8 -4.6
PY Principal Shareholder Yield Index ETF 18.0 29 -11 9.7 +0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 17.8 25 -7 6.7 -2.7
SYV SPDR MFS Systematic Value Equity ETF 17.8 60 -42 7.5 -1.9
IAK iShares U.S. Insurance ETF 17.7 43 -25 9.8 +0.4
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 17.7 29 -11 6.8 -2.6
QUS SPDR MSCI USA StrategicFactors ETF 17.5 15 3 5.9 -3.5
FDL First Trust Morningstar Dividend Leaders Index Fund 17.2 45 -27 10.3 +0.9
SCHV Schwab U.S. Large-Cap Value ETF 17.2 4 14 7.2 -2.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 17.1 25 -7 6.6 -2.8
EUSA iShares MSCI USA Equal Weighted ETF 17.1 15 3 6.3 -3.0
SIZE iShares Edge MSCI USA Size Factor ETF 17.1 15 3 6.4 -3.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 16.9 25 -7 6.6 -2.8
EQWL Invesco Russell Top 200 Equal Weight ETF 16.8 25 -7 6.1 -3.3
VFMF Vanguard U.S. Multifactor ETF 16.8 19 -1 7.3 -2.1
ETHO Etho Climate Leadership U.S. ETF 16.7 47 -29 4.4 -5.0
USDY Pacific Global US Equity Income ETF 16.7 29 -11 7.3 -2.1
VYM Vanguard High Dividend Yield Index ETF 16.7 6 12 7.4 -2.0
DTD WisdomTree U.S.Total Dividend Fund 16.6 28 -10 6.7 -2.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 16.6 9 9 5.9 -3.4
IWS iShares Russell Mid-Cap Value ETF 16.4 24 -6 7.4 -2.0
FMK First Trust Mega Cap AlphaDEX Fund 16.2 70 -52 5.2 -4.2
AVUS Avantis U.S. Equity ETF 16.2 15 3 5.8 -3.6
RSP Invesco S&P 500 Equal Weight ETF 16.2 20 -2 6.8 -2.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 16.1 30 -12 6.6 -2.8
JHML John Hancock Multifactor Large Cap ETF 16.1 29 -11 5.6 -3.8
SPXT ProShares S&P 500 Ex-Technology ETF 16.1 27 -9 5.7 -3.7
LGLV SPDR Russell 1000 Low Volatility ETF 15.9 12 6 5.8 -3.6
DLN WisdomTree U.S. LargeCap Dividend Fund 15.8 28 -10 6.4 -3.0
TTFS AdvisorShares Wilshire Buyback ETF 15.6 91 -73 6.2 -3.2
JVAL JPMorgan U.S. Value Factor ETF 15.6 12 6 8.8 -0.5
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 15.4 49 -31 5.2 -4.2
USMV iShares Edge MSCI Min Vol USA ETF 15.4 15 3 5.6 -3.8
SFY SoFi Select 500 ETF 15.3 0 18 5.2 -4.2
VFQY Vanguard U.S. Quality Factor ETF 15.2 13 5 6.1 -3.2
VEGN US Vegan Climate ETF 14.9 60 -42 5.2 -4.2
JKI iShares Morningstar Mid-Cap Value ETF 14.9 30 -12 9.3 -0.0
AUSF Global X Adaptive U.S. Factor ETF 14.9 27 -9 8.0 -1.4
JHMM John Hancock Multifactor Mid Cap ETF 14.7 42 -24 5.9 -3.5
SCIU Global X Scientific Beta US ETF 14.6 19 -1 5.8 -3.6
QLC FlexShares US Quality Large Cap Index Fund 14.5 32 -14 5.4 -4.0
SPGP Invesco S&P 500 GARP ETF 14.5 35 -17 7.3 -2.1
MOAT VanEck Vectors Morningstar Wide Moat ETF 14.4 49 -31 6.4 -3.0
NULV Nuveen ESG Large-Cap Value ETF 14.4 35 -17 7.4 -2.0
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 14.3 17 1 6.5 -2.9
SPXE ProShares S&P 500 Ex-Energy ETF 14.3 27 -9 5.3 -4.1

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 9.7 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 9.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.52
 
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.