iShares Evolved U.S. Technology ETF
ALTAR
Score™
4.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
25.9x P/Sales
ratio
4.7x
P/BV
ratio
6.1x 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) $27
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 235
Wgt avg mkt cap (mns) $632,290
Large cap (>$10bn) 95.3%
Mid cap ($2-10bn) 4.7%
Small cap (<$2bn) 0.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
MICROSOFT CORP 16.3 %
APPLE INC 10.4 %
AMAZON.COM INC 6.6 %
FACEBOOK 5.2 %
ALPHABET INC. CLASS C 4.4 %
ALPHABET INC. CLASS A 4.4 %
VISA INC-CLASS A SHARES 3.0 %
MASTERCARD INC-CLASS A 2.4 %
CISCO SYSTEMS INC 2.2 %
NVIDIA CORP 2.0 %
Total 57.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
IRELAND 1.4 %
BRITAIN 0.5 %
ARGENTINA 0.3 %
BERMUDA 0.2 %
SWITZERLAND 0.1 %
SINGAPORE 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
4.6% 35.8% -- -- 23.3%

Market Correlations
versus... Beta R-squared
S&P500 1.17 86%
MSCI EAFE 1.07 54%
MSCI Emg. Mkts. 0.68 36%

Technical Indicators
Recent close $34.24
30d moving avg. $35.09
Annualized volatility 18.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 18
Turnover 2.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $81,850

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Evolved U.S. Technology ETF 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™: 4.5%


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 North American Tech ETF 80.4 46 -28 4.4 -0.2
IYW iShares U.S. Technology ETF 70.8 42 -24 5.0 +0.5
VGT Vanguard Information Technology Index Fund 68.2 10 8 5.2 +0.7
FTEC Fidelity MSCI Information Technology Index ETF 68.1 8 10 5.2 +0.7
QYLD Global X NASDAQ 100 Covered Call ETF 64.2 60 -42 4.6 +0.1
QQQ Invesco QQQ Trust 62.6 20 -2 4.8 +0.3
MGK Vanguard Mega Cap Growth ETF 62.2 7 11 4.6 +0.1
XLK Technology Select Sector SPDR Fund 61.8 13 5 5.3 +0.8
NUSI Nationwide Risk-Managed Income ETF 61.7 68 -50 4.5 -0.1
IXN iShares Global Tech ETF 61.5 46 -28 5.0 +0.5
VUG Vanguard Growth Index Fund 61.0 4 14 4.5 -0.0
IWY iShares Russell Top 200 Growth ETF 60.7 20 -2 4.9 +0.4
VONG Vanguard Russell 1000 Growth Index Fund 59.1 8 10 4.9 +0.4
IWF iShares Russell 1000 Growth ETF 58.3 19 -1 4.8 +0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 57.4 4 14 5.0 +0.5
IVW iShares S&P 500 Growth ETF 57.4 18 0 4.8 +0.3
VOOG Vanguard S&P 500 Growth ETF 57.4 10 8 4.9 +0.4
SCHG Schwab U.S. Large-Cap Growth ETF 56.2 4 14 4.6 +0.1
TMFC Motley Fool 100 Index ETF 56.1 50 -32 4.1 -0.4
OQAL Invesco Russell 1000 Quality Factor ETF 56.1 19 -1 6.0 +1.5

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. Technology ETF
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 27.5 %
Divided by: Fwd. P/BV 5.9 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 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.