iShares Core MSCI Emerging Markets ETF
ALTAR
Score™
8.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.5x P/Sales
ratio
1.2x
P/BV
ratio
1.5x Div.
yield
2.5%


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

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Oct 18, 2012
Assets (mns) $53,951
Currency USD
Expense ratio 13 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 2450
Wgt avg mkt cap (mns) $143,925
Large cap (>$10bn) 67.4%
Mid cap ($2-10bn) 21.6%
Small cap (<$2bn) 8.2%
Developed mkts 9.3%
Emerging mkts 87.8%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.3 %
TENCENT HOLDINGS LTD 5.3 %
TAIWAN SEMICONDUCTOR MANUFAC 5.1 %
SAMSUNG ELECTRONICS CO LTD 3.3 %
MEITUAN DIANPING 1.5 %
RELIANCE INDUSTRIES LTD 1.2 %
NASPERS LTD-N SHS 1.1 %
JD.COM INC-ADR 0.9 %
CHINA CONSTRUCTION BANK-H 0.9 %
PING AN INSURANCE GROUP CO-H 0.9 %
Total 27.5 %

TOP COUNTRY EXPOSURE
CHINA 33.6 %
TAIWAN 13.3 %
SOUTH KOREA 11.9 %
INDIA 8.4 %
BRAZIL 4.7 %
HONG KONG 4.1 %
SOUTH AFRICA 3.3 %
SAUDI ARABIA 2.8 %
RUSSIA 2.4 %
THAILAND 1.9 %

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.
-0.9% 11.1% 8.5% -- 3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.87 64%
MSCI EAFE 1.06 77%
MSCI Emg. Mkts. 0.94 96%

Technical Indicators
Recent close $52.80
30d moving avg. $53.03
Annualized volatility 19.4%
Short interest (ETF) 0.9%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 11,401
Turnover 1.1%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $22,545

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares Core MSCI Emerging Markets ETF ETF based on the alternatives' overlap in portfolio holdings with IEMG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IEMG Expense: 13 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEMG
Ticker Fund
Name
Overlap1
vs IEMG
(%)
Expense
ratio
(bp)
Savings
vs IEMG
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEMG
(%)
EEM iShares MSCI Emerging Markets ETF 87.5 68 -55 7.6 -0.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 84.7 65 -52 7.6 -0.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 75.9 36 -23 7.5 -0.6
VWO Vanguard FTSE Emerging Markets ETF 74.7 10 3 8.2 +0.1
SCHE Schwab Emerging Markets Equity ETF 73.9 11 2 8.1 +0.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 70.6 68 -55 7.2 -0.9
FLAX Franklin FTSE Asia Ex Japan ETF 70.3 19 -6 7.8 -0.3
EEMA iShares MSCI Emerging Markets Asia ETF 68.5 50 -37 8.0 -0.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 66.5 30 -17 7.9 -0.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 63.7 15 -2 8.7 +0.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 63.3 45 -32 7.7 -0.4
JHEM John Hancock Multifactor Emerging Markets ETF 63.1 49 -36 9.0 +0.9
SPEM SPDR Portfolio Emerging Markets ETF 60.3 11 2 8.0 -0.1
BKEM BNY Mellon Emerging Markets Equity ETF 60.0 11 2 8.4 +0.4
ESGE iShares ESG MSCI EM ETF 58.8 25 -12 8.8 +0.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 57.9 59 -46 11.3 +3.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 55.5 32 -19 5.9 -2.2
BKF iShares MSCI BRIC ETF 49.3 69 -56 7.7 -0.4
AVEM Avantis Emerging Markets Equity ETF 48.9 33 -20 9.1 +1.0
GMF SPDR S&P Emerging Asia Pacific ETF 48.5 49 -36 7.3 -0.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 48.4 20 -7 6.9 -1.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 47.5 30 -17 9.0 +0.9
PXH Invesco FTSE RAFI Emerging Markets ETF 43.3 50 -37 13.7 +5.6
EMXC iShares MSCI Emerging Markets ex China ETF 42.6 25 -12 8.3 +0.2
DVEM WisdomTree Emerging Markets Dividend Fund 42.6 32 -19 7.4 -0.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 40.1 49 -36 8.1 -0.0
EEMO Invesco S&P Emerging Markets Momentum ETF 38.6 29 -16 4.1 -4.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 37.9 49 -36 7.9 -0.2
MCHI iShares MSCI China ETF 36.7 59 -46 7.9 -0.1
GXC SPDR S&P China ETF 36.3 59 -46 8.0 -0.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 36.1 40 -27 7.4 -0.7
NUEM Nuveen ESG Emerging Markets Equity ETF 35.9 45 -32 7.1 -1.0
FLCH Franklin FTSE China ETF 35.8 19 -6 8.5 +0.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 35.1 39 -26 13.8 +5.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 34.1 45 -32 8.7 +0.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 33.9 95 -82 8.2 +0.2
ISEM Invesco Strategic Emerging Markets ETF 32.9 35 -22 10.9 +2.8
CN Xtrackers MSCI All China Equity ETF 32.3 50 -37 8.3 +0.2
KALL KraneShares FTSE Emerging Markets Plus ETF 32.1 49 -36 8.2 +0.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 30.2 32 -19 9.3 +1.2
VSGX Vanguard ESG International Stock ETF 29.6 17 -4 7.1 -1.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 29.4 16 -3 6.9 -1.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 28.6 25 -12 8.1 -0.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 28.0 44 -31 9.3 +1.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 27.9 40 -27 7.1 -1.0
IXUS ishares Core MSCI Total International Stock ETF 27.3 9 4 7.4 -0.7
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 26.9 50 -37 10.2 +2.1
ACWX iShares MSCI ACWI ex U.S. ETF 26.4 32 -19 7.3 -0.8
VYMI Vanguard International High Dividend Yield ETF 25.9 27 -14 10.2 +2.2
EMMF WisdomTree Emerging Markets Multifactor Fund 25.7 48 -35 9.7 +1.7
AIA iShares Asia 50 ETF 25.6 50 -37 8.1 +0.0
CHIL Global X MSCI China Large-Cap 50 ETF 25.3 29 -16 7.9 -0.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 25.3 32 -19 5.8 -2.3
VXUS Vanguard Total International Stock Index Fund 24.6 8 5 7.6 -0.5
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 23.6 45 -32 9.3 +1.3
VEU Vanguard FTSE All-World ex-US Index Fund 23.6 8 5 7.6 -0.5
ROAM Hartford Multifactor Emerging Markets ETF 23.0 44 -31 13.4 +5.3
RNEM Emerging Markets Equity Select ETF 20.8 75 -62 12.0 +3.9
CWI SPDR MSCI ACWI ex-US ETF 20.1 30 -17 7.3 -0.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 19.9 86 -73 2.3 -5.8
XCEM Columbia EM Core ex-China ETF 19.7 16 -3 7.3 -0.7
ECON Columbia Emerging Markets Consumer ETF 19.6 59 -46 5.0 -3.1
FDNI First Trust Dow Jones International Internet ETF 18.7 65 -52 2.1 -6.0
KWEB KraneShares CSI China Internet ETF 18.0 76 -63 2.1 -6.0
BICK First Trust BICK Index Fund 17.5 64 -51 4.9 -3.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 17.0 45 -32 14.8 +6.8
TTTN UP Fintech China-U.S. Internet Titans ETF 16.5 59 -46 4.4 -3.7
PIE Invesco DWA Emerging Markets Momentum ETF 15.7 90 -77 5.2 -2.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 15.0 29 -16 10.1 +2.0
FXI iShares China Large-Cap ETF 14.2 74 -61 13.9 +5.8
OGIG O'Shares Global Internet Giants ETF 13.4 48 -35 0.6 -7.5
CHIQ Global X China Consumer ETF 13.4 65 -52 7.2 -0.9
PEK VanEck Vectors ChinaAMC CSI 300 ETF 13.0 60 -47 4.0 -4.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 12.5 20 -7 11.6 +3.5
VIGI Vanguard International Dividend Appreciation ETF 12.5 20 -7 5.6 -2.5
FNI First Trust Chindia ETF 12.1 60 -47 2.6 -5.5
DINT Davis Select International ETF 11.9 68 -55 6.0 -2.1
WUGI Esoterica NextG Economy ETF 11.8 75 -62 1.6 -6.5
VPL Vanguard FTSE Pacific ETF 11.7 8 5 7.4 -0.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 11.7 20 -7 6.3 -1.8
PGJ Invesco Golden Dragon China ETF 11.5 70 -57 3.5 -4.6
FLTW Franklin FTSE Taiwan ETF 11.5 19 -6 6.3 -1.8
AIQ Global X Future Analytics Tech ETF 11.4 68 -55 4.1 -4.0
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 11.3 18 -5 5.2 -2.9
EWT iShares MSCI Taiwan ETF 11.2 59 -46 6.2 -1.9
ACWI iShares MSCI ACWI ETF 11.2 32 -19 6.0 -2.0
LOWC SPDR MSCI ACWI Low Carbon Target ETF 11.1 20 -7 6.3 -1.8
GBUY Goldman Sachs Motif New Age Consumer ETF 11.0 50 -37 1.8 -6.3
DEM WisdomTree Emerging Markets High Dividend Fund 11.0 63 -50 15.4 +7.3
FRDM Freedom 100 Emerging Markets ETF 10.9 49 -36 6.7 -1.4
FLKR Franklin FTSE South Korea ETF 10.7 9 4 8.9 +0.9
DWLD Davis Select Worldwide ETF 10.5 63 -50 6.7 -1.4
JOYY Infusive Compounding Global Equities ETF 10.2 50 -37 5.0 -3.0
VT Vanguard Total World Stock Index Fund 10.2 8 5 6.3 -1.8
EWY iShares MSCI South Korea ETF 10.2 59 -46 8.6 +0.5
PNQI Invesco NASDAQ Internet ETF 9.9 60 -47 1.0 -7.1
BUYZ Franklin Disruptive Commerce ETF 9.8 50 -37 -0.2 -8.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 9.4 60 -47 9.1 +1.0

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

  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 Emerging Markets 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 11.7 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.37 CATEGORY
AVERAGE
1.43
 
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.