iShares MSCI Europe Small Cap
ALTAR
Score™
6.2% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
16.9x P/Sales
ratio
0.9x
P/BV
ratio
1.5x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares FTSE Developed Small Cap ex-North America Index Fund seeks investment results that correspond to the FTSE Developed Small Cap ex-North America Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Nov 16, 2007
Assets (mns) $135
Currency USD
Expense ratio 40 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 992
Wgt avg mkt cap (mns) $2,933
Large cap (>$10bn) 0.7%
Mid cap ($2-10bn) 70.0%
Small cap (<$2bn) 29.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
GALAPAGOS NV 0.6 %
LEG IMMOBILIEN AG 0.5 %
LOGITECH INTERNATIONAL-REG 0.5 %
RIGHTMOVE PLC 0.5 %
DS SMITH PLC 0.5 %
SVENSKA CELLULOSA AB-B SHS 0.5 %
SCOUT24 AG 0.5 %
INTERXION HOLDING NV 0.4 %
JUST EAT PLC 0.4 %
GN STORE NORD A/S 0.4 %
Total 4.9 %

TOP COUNTRY EXPOSURE
BRITAIN 25.6 %
GERMANY 8.7 %
SWEDEN 8.0 %
SWITZERLAND 7.0 %
ITALY 5.6 %
NETHERLANDS 5.3 %
FRANCE 4.6 %
BELGIUM 3.8 %
SPAIN 3.3 %
NORWAY 2.8 %

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.
18.0% 7.7% 6.9% -- 6.5%

Market Correlations
versus... Beta R-squared
S&P500 0.86 55%
MSCI EAFE 1.20 89%
MSCI Emg. Mkts. 0.81 67%

Technical Indicators
Recent close $52.06
30d moving avg. $50.61
Annualized volatility 14.1%
Short interest (ETF) 0.3%
Relative strength (RSI) 78

Liquidity measures
Avg. volume (thou.) 19
Turnover 0.7%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $4,159

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI Europe Small Cap ETF based on the alternatives' overlap in portfolio holdings with IEUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IEUS Expense: 40 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEUS
Ticker Fund
Name
Overlap1
vs IEUS
(%)
Expense
ratio
(bp)
Savings
vs IEUS
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEUS
(%)
SCZ iShares MSCI EAFE Small Cap 47.3 39 1 6.2 -0.1
SCHC Schwab Intl Small-Cap Equity 37.9 12 28 6.6 +0.4
VSS Vanguard FTSE All World ex-US Small Cap 27.7 12 28 6.7 +0.4
PDN Invesco FTSE RAFI Developed Mkts ex-US Small-Mid Cap 27.5 49 -9 6.7 +0.4
EWUS iShares MSCI United Kingdom Small Cap 27.2 59 -19 7.8 +1.6
FNDC Schwab Fundamental Intl Small Cap 25.8 39 1 4.7 -1.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 23.7 58 -18 7.4 +1.2
DLS WisdomTree Int'l SmallCap Dividend 22.5 58 -18 8.4 +2.2
DDLS WisdomTree Dynamic Currency Hedged Int'l SmallCap 22.3 43 -3 8.6 +2.3
ISDS Invesco Strategic Developed ex-US Small Company 22.0 35 5 5.2 -1.1
SCID Global X Scientific Beta Europe 20.5 38 2 6.5 +0.3
DFE WisdomTree Europe Small Cap Dividend 18.8 58 -18 9.3 +3.0
GWX SPDR International SmallCap 18.6 40 0 4.9 -1.4
DDEZ WisdomTree Dynamic Currency Hedged Europe Equity 18.1 43 -3 6.8 +0.5
ISCF iShares FactorSelect MSCI Intl Small-Cap 16.1 40 0 7.1 +0.8
FEP First Trust Europe AlphaDEX 14.5 80 -40 7.3 +1.1
SMEZ SPDR Euro Stoxx Small Cap 13.0 46 -6 5.4 -0.8
TLTD FlexShares Mngstr Developed Mkts ex-US Factor Tilt 12.4 39 1 8.4 +2.2
DIM WisdomTree Intl M/C Dividend 11.5 58 -18 7.6 +1.3
IEUR iShares Core MSCI Europe 11.4 9 31 6.9 +0.7

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 MSCI Europe Small Cap
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 9.4 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.63
 
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.