iShares Core MSCI Emerging Markets ETF
ALTAR
Score™		 10.9% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 10.4x P/Sales
ratio		 0.9x
P/BV
ratio		 1.1x Div.
yield		 3.9%


  • 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) $43,358
Currency USD
Expense ratio 14 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 2460
Wgt avg mkt cap (mns) $100,584
Large cap (>$10bn) 64.3%
Mid cap ($2-10bn) 24.4%
Small cap (<$2bn) 10.6%
Developed mkts 8.5%
Emerging mkts 88.9%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 6.3 %
TENCENT HOLDINGS LTD 5.3 %
TAIWAN SEMICONDUCTOR MANUFAC 4.2 %
SAMSUNG ELECTRONICS CO LTD 3.5 %
CHINA CONSTRUCTION BANK-H 1.5 %
NASPERS LTD-N SHS 1.2 %
PING AN INSURANCE GROUP CO-H 1.0 %
CHINA MOBILE LIMITED 0.9 %
IND & COMM BK OF CHINA - H 0.8 %
RELIANCE INDUSTRIES LTD 0.8 %
Total 25.5 %

TOP COUNTRY EXPOSURE
CHINA 31.6 %
TAIWAN 12.8 %
SOUTH KOREA 11.9 %
INDIA 7.8 %
HONG KONG 5.1 %
BRAZIL 4.8 %
SOUTH AFRICA 3.5 %
RUSSIA 2.9 %
SAUDI ARABIA 2.4 %
THAILAND 2.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.7% -19.2% -1.0% -- -0.0%

Market Correlations
versus... Beta R-squared
S&P500 0.93 62%
MSCI EAFE 1.05 77%
MSCI Emg. Mkts. 0.98 97%

Technical Indicators
Recent close $38.83
30d moving avg. $44.08
Annualized volatility 18.0%
Short interest (ETF) 1.2%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 41,156
Turnover 3.7%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $75,606

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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: 14 bp ALTAR Score™: 10.9%


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 87.1 68 -54 10.4 -0.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 84.4 65 -51 10.3 -0.6
VWO Vanguard FTSE Emerging Markets ETF 73.5 10 4 10.8 -0.1
SCHE Schwab Emerging Markets Equity ETF 71.7 13 1 10.7 -0.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 68.9 68 -54 9.8 -1.1
EEMA iShares MSCI Emerging Markets Asia ETF 67.7 50 -36 10.3 -0.5
FLAX Franklin FTSE Asia Ex Japan ETF 67.5 19 -5 10.3 -0.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 64.0 30 -16 10.6 -0.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 63.4 14 0 11.7 +0.8
JHEM John Hancock Multifactor Emerging Markets ETF 63.4 55 -41 11.3 +0.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 62.9 45 -31 10.7 -0.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 60.4 59 -45 13.5 +2.7
SPEM SPDR Portfolio Emerging Markets ETF 57.2 11 3 10.5 -0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 54.1 32 -18 8.7 -2.1
ESGE iShares ESG MSCI EM ETF 50.4 25 -11 11.9 +1.0
GMF SPDR S&P Emerging Asia Pacific ETF 48.6 49 -35 9.7 -1.1
BKF iShares MSCI BRIC ETF 48.5 69 -55 10.4 -0.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 48.4 30 -16 11.3 +0.4
AVEM Avantis Emerging Markets Equity ETF 47.4 33 -19 12.1 +1.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 45.1 20 -6 9.4 -1.5
EMXC iShares MSCI Emerging Markets ex China ETF 43.7 49 -35 10.8 -0.1
PXH Invesco FTSE RAFI Emerging Markets ETF 43.7 50 -36 16.4 +5.6
DVEM WisdomTree Emerging Markets Dividend Fund 41.0 32 -18 11.3 +0.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 39.4 49 -35 10.6 -0.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 37.8 95 -81 12.7 +1.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 36.6 39 -25 15.7 +4.9
MCHI iShares MSCI China ETF 35.5 59 -45 10.5 -0.4
GXC SPDR S&P China ETF 35.3 59 -45 10.3 -0.5
FLCH Franklin FTSE China ETF 34.2 19 -5 10.6 -0.3
ISEM Invesco Strategic Emerging Markets ETF 33.3 35 -21 12.2 +1.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 33.2 40 -26 9.3 -1.6
NUEM Nuveen ESG Emerging Markets Equity ETF 32.6 45 -31 9.6 -1.3
KALL KraneShares FTSE Emerging Markets Plus ETF 32.0 49 -35 10.3 -0.6
CN Xtrackers MSCI All China Equity ETF 31.7 50 -36 10.6 -0.2
EMCG WisdomTree Emerging Markets Consumer Growth Fund 31.5 32 -18 9.5 -1.4
WCHN WisdomTree ICBCCS S&P China 500 Fund 31.3 55 -41 10.0 -0.8
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 30.6 32 -18 11.8 +0.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 30.6 45 -31 10.9 0.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 30.2 49 -35 11.9 +1.0
AXJL WisdomTree Asia Pacific ex-Japan Fund 28.9 48 -34 11.4 +0.5
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 27.8 50 -36 13.0 +2.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 27.1 45 -31 12.1 +1.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 26.4 16 -2 8.9 -2.0
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 26.3 25 -11 10.1 -0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 25.9 40 -26 9.2 -1.6
ROAM Hartford Multifactor Emerging Markets ETF 25.7 44 -30 18.5 +7.7
IXUS ishares Core MSCI Total International Stock ETF 25.6 9 5 9.7 -1.1
AIA iShares Asia 50 ETF 25.3 50 -36 10.4 -0.4
ACWX iShares MSCI ACWI ex U.S. ETF 24.7 32 -18 9.6 -1.2
VSGX Vanguard ESG International Stock ETF 24.5 17 -3 9.3 -1.6
CHIL Global X MSCI China Large-Cap 50 ETF 24.3 29 -15 10.8 -0.1
VXUS Vanguard Total International Stock Index Fund 23.9 8 6 9.8 -1.0
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 23.7 64 -50 8.1 -2.8
VEU Vanguard FTSE All-World ex-US Index Fund 22.1 8 6 9.8 -1.0
EMMF WisdomTree Emerging Markets Multifactor Fund 22.0 48 -34 12.3 +1.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 21.8 32 -18 8.3 -2.5
RNEM Emerging Markets Equity Select ETF 21.2 75 -61 11.9 +1.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 21.1 45 -31 12.2 +1.4
VYMI Vanguard International High Dividend Yield ETF 21.0 32 -18 12.6 +1.7
CWI SPDR MSCI ACWI ex-US ETF 18.8 30 -16 9.5 -1.4
BICK First Trust BICK Index Fund 18.5 64 -50 6.6 -4.3
ECON Columbia Emerging Markets Consumer ETF 18.5 59 -45 5.9 -4.9
XCEM Columbia EM Core ex-China ETF 18.1 16 -2 9.8 -1.1
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 16.7 45 -31 16.7 +5.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.6 29 -15 12.8 +2.0
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 16.5 86 -72 3.5 -7.4
FDNI First Trust Dow Jones International Internet ETF 15.9 65 -51 4.2 -6.7
VIGI Vanguard International Dividend Appreciation ETF 15.3 25 -11 7.3 -3.6
FXI iShares China Large-Cap ETF 15.3 74 -60 15.1 +4.2
DEM WisdomTree Emerging Markets High Dividend Fund 15.2 63 -49 17.3 +6.4
KWEB KraneShares CSI China Internet ETF 14.8 76 -62 4.5 -6.3
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 14.2 20 -6 12.8 +1.9
TTTN UP Fintech China-U.S. Internet Titans ETF 13.8 59 -45 6.5 -4.4
JOYY Infusive Compounding Global Equities ETF 13.4 50 -36 5.2 -5.7
PIE Invesco DWA Emerging Markets Momentum ETF 13.1 90 -76 7.1 -3.8
OGIG O'Shares Global Internet Giants ETF 12.9 48 -34 1.1 -9.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 12.6 80 -66 2.3 -8.6
EEMO Invesco S&P Emerging Markets Momentum ETF 12.5 30 -16 12.7 +1.9
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 12.1 51 -37 13.6 +2.7
FRDM Freedom 100 Emerging Markets ETF 11.5 49 -35 9.7 -1.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 11.4 20 -6 8.3 -2.6
VPL Vanguard FTSE Pacific ETF 11.3 8 6 10.0 -0.8
AIQ Global X Future Analytics Tech ETF 11.2 68 -54 6.0 -4.9
DOGS Arrow Dogs of the World ETF 11.0 134 -120 14.7 +3.9
LOWC SPDR MSCI ACWI Low Carbon Target ETF 11.0 20 -6 8.3 -2.6
BUYZ Franklin Disruptive Commerce ETF 10.9 50 -36 0.3 -10.6
EWT iShares MSCI Taiwan ETF 10.8 59 -45 7.9 -3.0
FLTW Franklin FTSE Taiwan ETF 10.7 19 -5 8.3 -2.6
FLKR Franklin FTSE South Korea ETF 10.7 9 5 13.1 +2.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.6 60 -46 10.4 -0.5
ACWI iShares MSCI ACWI ETF 10.5 32 -18 8.0 -2.9
ACWF iShares FactorSelect MSCI Global ETF 10.4 35 -21 10.3 -0.6
FNI First Trust Chindia ETF 10.1 59 -45 4.7 -6.2
EMFM Global X MSCI Next Emerging & Frontier ETF 10.1 55 -41 10.6 -0.3
GBUY Goldman Sachs Motif New Age Consumer ETF 10.1 50 -36 3.7 -7.1
EWY iShares MSCI South Korea ETF 10.1 59 -45 12.6 +1.7
CHIQ Global X China Consumer ETF 9.9 65 -51 12.0 +1.1
VT Vanguard Total World Stock Index Fund 9.9 8 6 8.2 -2.6
PGJ Invesco Golden Dragon China ETF 9.9 70 -56 4.5 -6.4
EDIV SPDR S&P Emerging Markets Dividend ETF 9.8 49 -35 13.8 +3.0

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 11.8 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 14 bp
Equals: ALTAR Score 10.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.39 CATEGORY
AVERAGE		 1.45
 
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.