iShares Core MSCI Europe ETF
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.9x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Core MSCI Europe ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the investment results of an index composed of European region developed market large, mid and small capitalization equities.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Jun 10, 2014
Assets (mns) $3,435
Currency USD
Expense ratio 9 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1003
Wgt avg mkt cap (mns) $72,158
Large cap (>$10bn) 79.6%
Mid cap ($2-10bn) 16.2%
Small cap (<$2bn) 3.0%
Developed mkts 99.8%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 3.7 %
ROCHE HOLDING AG-GENUSSCHEIN 2.7 %
NOVARTIS AG-REG 2.0 %
SAP AG 1.7 %
ASML HOLDING NV 1.6 %
ASTRAZENECA PLC 1.6 %
LVMH MOET HENNESSY LOUIS VUI 1.4 %
NOVO NORDISK A/S-B 1.3 %
SANOFI-AVENTIS 1.2 %
SIEMENS AG-REG 1.1 %
Total 18.1 %

TOP COUNTRY EXPOSURE
BRITAIN 21.6 %
SWITZERLAND 16.7 %
FRANCE 14.9 %
GERMANY 14.6 %
NETHERLANDS 7.3 %
SWEDEN 5.7 %
DENMARK 4.0 %
ITALY 3.5 %
SPAIN 3.4 %
FINLAND 2.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.0% 6.0% 4.3% -- 1.7%

Market Correlations
versus... Beta R-squared
S&P500 0.88 80%
MSCI EAFE 1.06 97%
MSCI Emg. Mkts. 0.76 79%

Technical Indicators
Recent close $43.98
30d moving avg. $46.04
Annualized volatility 17.2%
Short interest (ETF) 0.2%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 449
Turnover 0.6%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $17,150

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IEUR Expense: 9 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEUR
Ticker Fund
Name
Overlap1
vs IEUR
(%)
Expense
ratio
(bp)
Savings
vs IEUR
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEUR
(%)
VGK Vanguard FTSE Europe ETF 93.6 8 1 7.6 +0.2
FEU SPDR Portfolio Europe ETF 92.1 9 0 7.4 +0.1
FLEE Franklin FTSE Europe ETF 90.2 9 0 7.2 -0.2
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 89.7 30 -21 0.0 -7.4
FLEH Franklin FTSE Europe Hedged ETF 89.2 9 0 7.2 -0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 87.6 45 -36 6.7 -0.6
BBEU JPMorgan BetaBuilders Europe ETF 86.9 9 0 7.5 +0.2
IEV iShares Europe ETF 84.3 59 -50 7.0 -0.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 69.3 25 -16 6.5 -0.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 61.7 20 -11 7.1 -0.3
EFA iShares MSCI EAFE ETF 61.6 32 -23 7.1 -0.3
IQSI IQ Candriam ESG International Equity ETF 59.1 15 -6 7.4 +0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 58.7 35 -26 6.9 -0.5
IEFA iShares Core MSCI EAFE ETF 58.7 7 2 7.4 0.0
GSID Goldman Sachs MarketBeta International Equity ETF 58.0 20 -11 7.4 0.0
ESGD iShares MSCI EAFE ESG Optimized ETF 56.6 20 -11 7.0 -0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 56.0 7 2 7.6 +0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 56.0 20 -11 7.5 +0.1
BKIE BNY Mellon International Equity ETF 53.2 4 5 7.4 +0.1
IDEV iShares Core MSCI International Developed Markets ETF 51.8 5 4 7.3 -0.1
SCHF Schwab International Equity ETF 51.8 6 3 7.4 +0.1
JHMD John Hancock Multifactor Developed International ETF 50.0 39 -30 7.5 +0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 49.8 30 -21 6.9 -0.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 49.5 45 -36 9.1 +1.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 49.2 45 -36 6.9 -0.5
DOL WisdomTree International LargeCap Dividend Fund 48.8 48 -39 8.8 +1.5
VEA Vanguard FTSE Developed Markets ETF 48.8 5 4 7.5 +0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 48.6 35 -26 8.7 +1.4
DWM WisdomTree International Equity Fund 48.5 48 -39 8.5 +1.1
SPDW SPDR Portfolio Developed World ex-US ETF 48.0 4 5 7.2 -0.2
EFG iShares MSCI EAFE Growth ETF 46.4 40 -31 4.5 -2.9
GSIE Goldman Sachs ActiveBeta International Equity ETF 45.5 25 -16 6.7 -0.6
EZU iShares MSCI Eurozone ETF 45.3 49 -40 6.8 -0.6
SCID Global X Scientific Beta Europe ETF 45.0 39 -30 6.5 -0.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 44.8 39 -30 6.6 -0.7
FNDF Schwab Fundamental International Large Co. Index ETF 44.6 25 -16 8.9 +1.6
EURZ Xtrackers Eurozone Equity ETF 44.5 9 0 7.2 -0.1
EFV iShares MSCI EAFE Value ETF 44.3 39 -30 9.9 +2.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 43.8 14 -5 7.0 -0.4
PDEV Principal International Multi-Factor Core Index ETF 43.1 25 -16 8.0 +0.6
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 41.3 35 -26 7.0 -0.4
OEUR O'shares FTSE Europe Quality Dividend ETF 40.6 48 -39 6.8 -0.6
CWI SPDR MSCI ACWI ex-US ETF 39.5 30 -21 7.3 -0.1
ACWX iShares MSCI ACWI ex U.S. ETF 39.5 32 -23 7.4 +0.0
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 39.4 30 -21 0.0 -7.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 38.6 39 -30 8.4 +1.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 38.0 40 -31 7.1 -0.2
VEU Vanguard FTSE All-World ex-US Index Fund 38.0 8 1 7.7 +0.3
ISDX Invesco Strategic Developed ex-US ETF 38.0 23 -14 7.5 +0.1
IXUS ishares Core MSCI Total International Stock ETF 37.7 9 0 7.5 +0.1
IDY Pacific Global International Equity Income ETF 37.6 39 -30 8.1 +0.7
IQLT iShares Edge MSCI Intl Quality Factor ETF 37.0 30 -21 6.1 -1.3
VSGX Vanguard ESG International Stock ETF 36.9 17 -8 7.2 -0.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 36.7 16 -7 7.0 -0.4
IQIN IQ 500 International ETF 36.6 25 -16 8.8 +1.4
VXUS Vanguard Total International Stock Index Fund 35.6 8 1 7.7 +0.3
RNDM Developed International Equity Select ETF 35.5 65 -56 6.3 -1.0
CIL VictoryShares International Volatility Weighted Index ETF 35.2 45 -36 6.7 -0.6
IMTM iShares Edge MSCI Intl Momentum Factor ETF 35.2 30 -21 4.4 -3.0
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 35.1 45 -36 6.7 -0.6
AVDE Avantis International Equity ETF 34.3 23 -14 7.7 +0.4
VYMI Vanguard International High Dividend Yield ETF 34.3 27 -18 10.5 +3.1
ISZE iShares Edge MSCI Intl Size Factor ETF 34.0 30 -21 7.3 -0.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 30.2 58 -49 6.0 -1.4
IGRO iShares International Dividend Growth ETF 29.3 22 -13 8.2 +0.8
RFEU First Trust Riverfront Dynamic Europe ETF 29.2 83 -74 5.9 -1.5
NUDM Nuveen ESG International Developed Markets Equity ETF 28.8 40 -31 6.8 -0.6
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 28.4 24 -15 7.1 -0.3
FDEV Fidelity Targeted International Factor ETF 27.6 39 -30 6.5 -0.9
IDMO Invesco S&P International Developed Momentum ETF 27.5 26 -17 4.5 -2.8
VIGI Vanguard International Dividend Appreciation ETF 27.5 20 -11 5.6 -1.8
DTH WisdomTree DEFA Equity Income Fund 27.5 58 -49 10.1 +2.8
PQIN PGIM QMA Strategic Alpha International Equity ETF 27.4 29 -20 7.6 +0.3
VGFO Virtus WMC Global Factor Opportunities ETF 27.1 49 -40 8.1 +0.8
RFDI First Trust Riverfront Dynamic Developed International ETF 26.8 83 -74 5.7 -1.6
RBIN Nationwide Risk-Based International Equity ETF 26.7 42 -33 6.1 -1.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 26.6 20 -11 5.5 -1.9
FIVA Fidelity International Value Factor ETF 26.4 39 -30 9.9 +2.5
FEZ SPDR EURO STOXX 50 ETF 26.2 29 -20 7.4 +0.1
TPIF Timothy Plan International ETF 25.6 62 -53 6.3 -1.1
IDHQ Invesco S&P International Developed Quality ETF 25.1 29 -20 5.0 -2.3
QINT American Century Quality Diversified International ETF 24.6 39 -30 6.1 -1.2
ESGG FlexShares STOXX Global ESG Impact Index Fund 24.1 42 -33 6.1 -1.2
IVLU iShares Edge MSCI Intl Value Factor ETF 23.3 30 -21 11.7 +4.3
IOO iShares Global 100 ETF 22.3 40 -31 6.2 -1.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 22.3 32 -23 6.0 -1.4
JPIN JPMorgan Diversified Return International Equity ETF 22.2 37 -28 7.9 +0.6
RODM Hartford Multifactor Developed Markets (ex-US) ETF 22.1 29 -20 7.7 +0.4
FEP First Trust Europe AlphaDEX Fund 21.6 80 -71 7.5 +0.1
HEDJ WisdomTree Europe Hedged Equity Fund 21.6 58 -49 6.9 -0.5
DOO WisdomTree International Dividend ex-Financials Fund 20.9 58 -49 9.0 +1.6
TOK iShares MSCI Kokusai ETF 20.8 25 -16 6.1 -1.2
IDLB Invesco FTSE International Low Beta Equal Weight ETF 20.4 45 -36 7.1 -0.3
QWLD SPDR MSCI World StrategicFactors ETF 20.4 30 -21 6.5 -0.8
FLGB Franklin FTSE United Kingdom ETF 20.1 9 0 8.2 +0.8
IQDE FlexShares International Quality Dividend Defensive Index Fd 19.7 47 -38 9.3 +1.9
IQDF FlexShares International Quality Dividend Index Fund 19.2 47 -38 9.2 +1.8
QGBR SPDR MSCI UK StrategicFactors ETF 19.1 14 -5 8.2 +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%.

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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 Europe 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 10.5 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.57
 
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.