iShares MSCI Europe Small-Cap ETF
ALTAR
Score™
8.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
25.8x P/Sales
ratio
0.9x
P/BV
ratio
1.2x Div.
yield
2.5%


  • 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 12, 2007
Assets (mns) $119
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 952
Wgt avg mkt cap (mns) $2,395
Large cap (>$10bn) 0.1%
Mid cap ($2-10bn) 68.1%
Small cap (<$2bn) 31.7%
Developed mkts 99.5%
Emerging mkts 0.2%

TOP TEN HOLDINGS
HELLOFRESH SE 0.7 %
ASM INTERNATIONAL N.V. 0.6 %
RIGHTMOVE PLC 0.5 %
EURONEXT NV 0.5 %
PENNON GROUP PLC 0.5 %
BECHTLE AG 0.5 %
VAT GROUP LTD 0.4 %
IMCD N.V. 0.4 %
HOMESERVE PLC 0.4 %
B&M EUROPEAN VALUE RETAIL SA. 0.4 %
Total 5.0 %

TOP COUNTRY EXPOSURE
BRITAIN 23.1 %
GERMANY 8.6 %
SWEDEN 8.4 %
SWITZERLAND 7.4 %
ITALY 4.8 %
NETHERLANDS 4.5 %
FRANCE 3.7 %
SPAIN 3.1 %
DENMARK 2.9 %
FINLAND 2.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.1% -4.7% 3.0% -- 4.4%

Market Correlations
versus... Beta R-squared
S&P500 1.12 79%
MSCI EAFE 1.29 93%
MSCI Emg. Mkts. 0.96 81%

Technical Indicators
Recent close $47.63
30d moving avg. $47.66
Annualized volatility 21.3%
Short interest (ETF) 3.4%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.6%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $8,123

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares MSCI Europe Small-Cap ETF 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™: 8.0%


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 ETF 45.1 40 0 7.4 -0.7
SCHC Schwab International Small-Cap Equity ETF 36.8 11 29 6.9 -1.1
EWUS iShares MSCI United Kingdom Small Cap ETF 26.2 59 -19 8.7 +0.7
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 26.2 11 29 6.8 -1.2
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 24.5 49 -9 6.8 -1.2
FNDC Schwab Fundamental International Small Co. Index ETF 23.8 39 1 7.4 -0.6
SCID Global X Scientific Beta Europe ETF 23.2 39 1 6.5 -1.5
ISDS Invesco Strategic Developed ex-US Small Company ETF 21.1 35 5 6.8 -1.2
GWX SPDR S&P International Small Cap ETF 18.8 40 0 6.7 -1.3
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 18.4 58 -18 8.1 +0.1
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 16.8 43 -3 8.9 +0.9
DLS WisdomTree International SmallCap Dividend Fund 16.4 58 -18 8.7 +0.7
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 15.9 40 0 8.8 +0.8
DFE WisdomTree Europe SmallCap Dividend Fund 14.0 58 -18 8.6 +0.6
FEP First Trust Europe AlphaDEX Fund 13.9 80 -40 7.7 -0.3
AVDV Avantis International Small Cap Value ETF 13.9 36 4 7.8 -0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 12.6 39 1 8.5 +0.5
IEUR iShares Core MSCI Europe ETF 10.6 9 31 7.3 -0.8
DIM WisdomTree International MidCap Dividend Fund 10.2 58 -18 7.8 -0.2
SMEZ SPDR EURO STOXX Small Cap ETF 10.1 45 -5 6.3 -1.7
AVDE Avantis International Equity ETF 9.8 23 17 8.0 -0.1
VGK Vanguard FTSE Europe ETF 9.5 8 32 7.4 -0.6
EWGS iShares MSCI Germany Small Cap ETF 9.4 59 -19 5.1 -2.9
FEU SPDR Portfolio Europe ETF 9.0 9 31 7.4 -0.6
FEUZ First Trust Eurozone AlphaDEX ETF 8.8 80 -40 7.7 -0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 8.4 29 11 8.8 +0.8
WPS iShares International Developed Property ETF 8.4 48 -8 8.1 +0.1
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 8.4 10 30 9.3 +1.3
JPEU JPMorgan Diversified Return Europe Equity ETF 8.1 37 3 7.0 -1.0
VNQI Vanguard Global ex-US Real Estate Index Fund 8.0 12 28 10.1 +2.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 8.0 45 -5 6.8 -1.2
IFGL iShares International Developed Real Estate ETF 7.9 48 -8 7.8 -0.3
IFEU iShares Europe Development Real Estate ETF 7.9 48 -8 6.4 -1.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 7.7 39 1 6.7 -1.3
FDT First Trust Developed Markets ex-US Alphadex Fund 7.4 80 -40 7.5 -0.5
FKU First Trust United Kingdom AlphaDEX Fund 7.4 80 -40 9.4 +1.4
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 7.0 24 16 7.3 -0.7
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 6.8 60 -20 7.4 -0.6
EUDG WisdomTree Europe Quality Dividend Growth Fund 6.7 58 -18 6.1 -1.9
IEFA iShares Core MSCI EAFE ETF 6.7 7 33 7.4 -0.7
DRW WisdomTree Global ex-US Real Estate Fund 6.1 58 -18 10.8 +2.8
RNDM Developed International Equity Select ETF 5.7 65 -25 6.4 -1.6
RWX SPDR Dow Jones International Real Estate ETF 5.5 59 -19 6.8 -1.2
RWO SPDR Dow Jones Global Real Estate ETF 5.4 50 -10 7.3 -0.8
PDEV Principal International Multi-Factor Core Index ETF 5.4 25 15 8.0 -0.0
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 5.4 80 -40 10.7 +2.7
FPXE First Trust IPOX Europe Equity Opportunities ETF 5.3 70 -30 2.4 -5.7
FLGB Franklin FTSE United Kingdom ETF 5.2 9 31 7.7 -0.3
IDEV iShares Core MSCI International Developed Markets ETF 5.1 5 35 7.3 -0.7
VEA Vanguard FTSE Developed Markets ETF 5.0 5 35 7.5 -0.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 4.9 45 -5 7.2 -0.9
JPIN JPMorgan Diversified Return International Equity ETF 4.6 37 3 8.1 +0.1
IXUS ishares Core MSCI Total International Stock ETF 4.3 9 31 7.4 -0.6
SPDW SPDR Portfolio Developed World ex-US ETF 4.2 4 36 7.2 -0.8
IQDG WisdomTree International Quality Dividend Growth Fund 4.1 38 2 6.4 -1.6
FDEV Fidelity Targeted International Factor ETF 4.1 39 1 6.6 -1.5
DTH WisdomTree DEFA Equity Income Fund 4.1 58 -18 9.8 +1.8
QINT American Century Quality Diversified International ETF 4.1 39 1 5.8 -2.3
DWM WisdomTree International Equity Fund 4.1 48 -8 8.3 +0.3
REET iShares Global REIT ETF 4.1 14 26 7.6 -0.4
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 4.0 58 -18 6.3 -1.7
EWN iShares MSCI Netherlands ETF 4.0 50 -10 5.1 -2.9
ENOR iShares MSCI Norway Capped ETF 3.9 53 -13 10.0 +2.0
GQRE FlexShares Global Quality Real Estate Index Fund 3.9 45 -5 7.1 -0.9
RFEU First Trust Riverfront Dynamic Europe ETF 3.9 83 -43 5.4 -2.7
NORW Global X MSCI Norway ETF 3.8 50 -10 10.2 +2.2
IGRO iShares International Dividend Growth ETF 3.8 22 18 8.1 +0.1
PIZ Invesco DWA Developed Markets Momentum ETF 3.8 81 -41 4.2 -3.8
VXUS Vanguard Total International Stock Index Fund 3.7 8 32 7.6 -0.4
FYLD Cambria Foreign Shareholder Yield ETF 3.6 59 -19 9.4 +1.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 3.5 35 5 8.6 +0.6
VSGX Vanguard ESG International Stock ETF 3.5 17 23 7.2 -0.8
HEDJ WisdomTree Europe Hedged Equity Fund 3.5 58 -18 6.9 -1.1
IQIN IQ 500 International ETF 3.4 25 15 9.0 +1.0
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 3.4 30 10 6.8 -1.2
FLEH Franklin FTSE Europe Hedged ETF 3.4 9 31 7.1 -0.9
FLEE Franklin FTSE Europe ETF 3.4 9 31 7.0 -1.0
VIDI Vident International Equity Fund 3.4 59 -19 11.4 +3.4
OEUR O'shares FTSE Europe Quality Dividend ETF 3.4 48 -8 6.6 -1.4
RFDI First Trust Riverfront Dynamic Developed International ETF 3.2 83 -43 5.7 -2.3
ISDX Invesco Strategic Developed ex-US ETF 3.0 23 17 7.6 -0.4
VIGI Vanguard International Dividend Appreciation ETF 3.0 25 15 5.6 -2.5
EDEN iShares MSCI Denmark Capped ETF 2.9 53 -13 6.1 -1.9
IMOM Alpha Architect International Quantitative Momentum ETF 2.8 59 -19 3.4 -4.6
EFNL iShares MSCI Finland Capped ETF 2.8 53 -13 6.2 -1.8
KLDW Gavekal Knowledge Leaders Developed World ETF 2.7 75 -35 5.4 -2.6
EURZ Xtrackers Eurozone Equity ETF 2.6 9 31 7.1 -1.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.6 58 -18 7.8 -0.2
EWK iShares MSCI Belgium Capped ETF 2.6 49 -9 6.5 -1.5
DWCR Arrow DWA Country Rotation ETF 2.6 95 -55 16.6 +8.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 2.5 45 -5 9.0 +1.0
FSZ First Trust Switzerland AlphaDEX Fund 2.4 80 -40 6.2 -1.8
IDV iShares International Select Dividend ETF 2.4 49 -9 10.2 +2.2
FNDF Schwab Fundamental International Large Co. Index ETF 2.3 25 15 8.9 +0.9
PIO Invesco Global Water ETF 2.2 75 -35 4.0 -4.0
FLGR Franklin FTSE Germany ETF 2.1 9 31 7.3 -0.8
DXGE WisdomTree Germany Hedged Equity Fund 2.1 48 -8 8.8 +0.7
BBEU JPMorgan BetaBuilders Europe ETF 2.1 9 31 7.3 -0.7
GRES IQ Global Resources ETF 2.0 77 -37 7.6 -0.4

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 MSCI Europe Small-Cap 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 10.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 8.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.59
 
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.