iShares U.S. Oil & Gas Exploration & Production
ALTAR
Score™
3.3% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
17.0x P/Sales
ratio
0.7x
P/BV
ratio
1.1x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares U.S. Oil & Gas Exploration & Production ETF seeks to track the investment results of an index composed of U.S. equities in the oil and gas exploration and production sector.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date May 05, 2006
Assets (mns) $209
Currency USD
Expense ratio 42 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 58
Wgt avg mkt cap (mns) $30,242
Large cap (>$10bn) 66.4%
Mid cap ($2-10bn) 28.6%
Small cap (<$2bn) 5.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CONOCOPHILLIPS 14.6 %
PHILLIPS 66 12.0 %
EOG RESOURCES INC 9.6 %
MARATHON PETROLEUM 9.6 %
VALERO ENERGY CORP 5.4 %
PIONEER NATURAL RESOURCES CO 4.5 %
HESS CORP 4.3 %
CONCHO RESOURCES INC 3.6 %
CHENIERE ENERGY INC 3.5 %
DIAMONDBACK ENERGY INC 3.1 %
Total 70.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.3% -19.8% -7.7% 1.3% 1.6%

Market Correlations
versus... Beta R-squared
S&P500 1.47 48%
MSCI EAFE 1.41 37%
MSCI Emg. Mkts. 0.76 18%

Technical Indicators
Recent close $50.86
30d moving avg. $51.46
Annualized volatility 25.6%
Short interest (ETF) 0.0%
Short interest (Underlying) 5.1%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 108
Turnover 2.6%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $4,195

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares U.S. Oil & Gas Exploration & Production ETF based on the alternatives' overlap in portfolio holdings with IEO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IEO Expense: 42 bp ALTAR Score™: 3.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEO
Ticker Fund
Name
Overlap1
vs IEO
(%)
Expense
ratio
(bp)
Savings
vs IEO
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEO
(%)
JHME John Hancock Multifactor Energy 57.6 40 2 3.5 +0.2
FRAK VanEck Vectors Unconventional Oil & Gas 50.4 54 -12 1.8 -1.6
XOP SPDR S&P Oil & Gas Exploration 49.0 35 7 3.8 +0.4
RYE Invesco S&P Equal Weight Energy ETF 48.3 40 2 3.7 +0.3
PXE Invesco Dynamic Energy Exploration & Production 45.0 63 -21 1.3 -2.1
FXN First Trust Energy Alphadex 44.0 63 -21 4.7 +1.4
PXI Invesco Dynamic Energy Sector 41.9 60 -18 -0.7 -4.0
FTXN First Trust Nasdaq Oil & Gas 39.0 60 -18 2.7 -0.6
VDE Vanguard Energy ETF 35.9 10 32 4.0 +0.7
FENY Fidelity MSCI Energy 35.6 8 34 4.1 +0.8
IYE iShares DJ US Energy Sector 35.0 42 0 4.1 +0.8
XLE Energy Select Sector SPDR 34.0 13 29 4.5 +1.2
XLEY Cushing Energy & MLP 32.6 65 -23 3.8 +0.5
IGE iShares North American Natural Resources 27.5 46 -4 4.1 +0.8
CRAK VanEck Vectors Oil Refiners 25.0 60 -18 12.8 +9.5
FILL iShares MSCI Global Energy Producers 17.3 39 3 5.7 +2.3
IXC iShares S&P Global Energy Sector 16.7 46 -4 5.3 +1.9
FCG First Trust ISE-Revere Natural Gas 15.7 60 -18 3.7 +0.3
XLSY Cushing Energy Supply Chain & MLP 15.3 65 -23 5.7 +2.3
NANR SPDR S&P N. American Nat. Resources 14.8 35 7 4.2 +0.8

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
iShares U.S. Oil & Gas Exploration & Production
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 4.1 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 3.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.33 CATEGORY
AVERAGE
1.55
 
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.