iShares Evolved U.S. Technology
ALTAR
Score™
4.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
25.9x P/Sales
ratio
4.8x
P/BV
ratio
6.7x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Evolved US Technology ETF is an actively managed, market-cap-weighted fund of large-, mid-, and small-cap US stocks in the technology 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) $17
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 221
Wgt avg mkt cap (mns) $563,383
Large cap (>$10bn) 95.5%
Mid cap ($2-10bn) 4.5%
Small cap (<$2bn) 0.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
MICROSOFT CORP 16.2 %
APPLE INC 10.5 %
AMAZON.COM INC 6.3 %
FACEBOOK 5.6 %
ALPHABET INC. CLASS C 4.7 %
ALPHABET INC. CLASS A 4.6 %
VISA INC-CLASS A SHARES 3.0 %
CISCO SYSTEMS INC 2.5 %
MASTERCARD INC-CLASS A 2.3 %
ORACLE CORP 1.9 %
Total 57.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.7 %
IRELAND 1.5 %
BRITAIN 0.6 %
BERMUDA 0.3 %
ARGENTINA 0.2 %
SWITZERLAND 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
38.3% 26.6% -- -- 20.1%

Market Correlations
versus... Beta R-squared
S&P500 1.19 89%
MSCI EAFE 1.14 59%
MSCI Emg. Mkts. 0.82 45%

Technical Indicators
Recent close $31.56
30d moving avg. $30.89
Annualized volatility 19.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.7%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $68,250

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IETC Expense: 18 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IETC
Ticker Fund
Name
Overlap1
vs IETC
(%)
Expense
ratio
(bp)
Savings
vs IETC
(bp)
ALTAR
Score™
(%)
ALTAR
vs IETC
(%)
IGM iShares S&P N. American Technology 82.0 46 -28 4.6 -0.2
IYW iShares US Technology 71.7 42 -24 5.2 +0.4
VGT Vanguard Info Tech ETF 68.6 10 8 5.4 +0.6
FTEC Fidelity MSCI Info Technology 68.6 8 10 5.5 +0.6
QYLD Global X NASDAQ 100 Covered Call ETF 63.5 60 -42 4.8 -0.1
QQQ Invesco QQQ 63.0 20 -2 5.2 +0.3
XLK Technology Select Sector SPDR 62.6 13 5 5.6 +0.8
IXN iShares S&P Global Technology 61.3 46 -28 5.3 +0.5
MGK Vanguard Mega Cap 300 Growth 60.3 7 11 5.0 +0.2
IWY iShares Russell Top 200 Growth 59.8 20 -2 5.0 +0.2
VUG Vanguard Growth ETF 58.0 4 14 4.9 +0.0
IWF iShares Russell 1000 Growth 56.2 19 -1 5.0 +0.1
VONG Vanguard Russell 1000 Growth 55.9 12 6 5.1 +0.2
TMFC Motley Fool 100 Index 54.8 50 -32 4.3 -0.5
SCHG Schwab U.S. Large-Cap Growth 54.2 4 14 4.9 +0.0
ONEQ Fidelity NASDAQ Composite 48.2 21 -3 3.9 -0.9
XOUT GraniteShares XOUT US Large Cap 48.0 60 -42 5.1 +0.2
XLG Invesco S&P Top 50 47.2 20 -2 5.1 +0.3
OQAL Invesco Russell 1000 Quality Factor ETF 46.9 19 -1 5.3 +0.4
SPYG SPDR Portfolio S&P 500 Growth 46.1 4 14 5.0 +0.2

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

  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

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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 Evolved U.S. Technology
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 27.2 %
Divided by: Fwd. P/BV 5.4 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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