iShares Europe ETF
ALTAR
Score™
7.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.4x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
3.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares S&P Europe 350 Index fund seeks investment results that correspond to the price and yield performance of Standard & Poor's Europe 350 Index. The index consists primarily of large cap stocks traded in Europe's developed-country equity markets.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jul 25, 2000
Assets (mns) $1,400
Currency USD
Expense ratio 59 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 365
Wgt avg mkt cap (mns) $82,253
Large cap (>$10bn) 91.9%
Mid cap ($2-10bn) 7.5%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 4.1 %
ROCHE HOLDING AG-GENUSSCHEIN 3.0 %
NOVARTIS AG-REG 2.6 %
SAP AG 2.1 %
ASML HOLDING NV 1.9 %
ASTRAZENECA PLC 1.7 %
LVMH MOET HENNESSY LOUIS VUI 1.5 %
SANOFI-AVENTIS 1.4 %
NOVO NORDISK A/S-B 1.4 %
SIEMENS AG-REG 1.2 %
Total 20.8 %

TOP COUNTRY EXPOSURE
BRITAIN 21.5 %
SWITZERLAND 17.5 %
FRANCE 15.5 %
GERMANY 14.6 %
NETHERLANDS 7.8 %
SWEDEN 4.9 %
DENMARK 3.9 %
SPAIN 3.4 %
ITALY 2.9 %
FINLAND 2.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.8% -1.4% 3.8% 4.0% 3.9%

Market Correlations
versus... Beta R-squared
S&P500 0.83 78%
MSCI EAFE 1.01 96%
MSCI Emg. Mkts. 0.73 80%

Technical Indicators
Recent close $41.86
30d moving avg. $42.94
Annualized volatility 16.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 222
Turnover 0.7%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $16,291

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 potential alternatives to the iShares Europe ETF ETF based on the alternatives' overlap in portfolio holdings with IEV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IEV Expense: 59 bp ALTAR Score™: 7.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IEV
Ticker Fund
Name
Overlap1
vs IEV
(%)
Expense
ratio
(bp)
Savings
vs IEV
(bp)
ALTAR
Score™
(%)
ALTAR
vs IEV
(%)
BBEU JPMorgan BetaBuilders Europe ETF 90.7 9 50 7.5 +0.5
FLEE Franklin FTSE Europe ETF 89.3 9 50 7.1 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 88.7 45 14 6.8 -0.2
FLEH Franklin FTSE Europe Hedged ETF 85.9 9 50 7.2 +0.2
IEUR iShares Core MSCI Europe ETF 82.3 9 50 7.3 +0.4
VGK Vanguard FTSE Europe ETF 81.4 8 51 7.5 +0.6
FEU SPDR Portfolio Europe ETF 80.3 9 50 7.4 +0.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 68.1 25 34 6.5 -0.5
IQSI IQ Candriam ESG International Equity ETF 59.7 15 44 7.4 +0.5
EFA iShares MSCI EAFE ETF 58.2 32 27 7.0 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 58.2 20 39 7.0 +0.0
ESGD iShares MSCI EAFE ESG Optimized ETF 56.1 20 39 6.9 -0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 55.5 35 24 6.9 -0.1
GSID Goldman Sachs MarketBeta International Equity ETF 55.4 20 39 7.3 +0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 53.7 20 39 7.4 +0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 51.8 30 29 6.7 -0.2
BKIE BNY Mellon International Equity ETF 51.8 4 55 7.4 +0.4
DOL WisdomTree International LargeCap Dividend Fund 51.7 48 11 8.7 +1.7
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 51.2 7 52 7.4 +0.5
JHMD John Hancock Multifactor Developed International ETF 50.0 39 20 7.3 +0.4
IEFA iShares Core MSCI EAFE ETF 49.8 7 52 7.3 +0.3
EFV iShares MSCI EAFE Value ETF 49.7 39 20 9.6 +2.7
EZU iShares MSCI Eurozone ETF 49.3 49 10 6.8 -0.2
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 48.9 45 14 6.9 -0.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 48.8 14 45 6.8 -0.2
EFG iShares MSCI EAFE Growth ETF 48.8 40 19 4.5 -2.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 48.2 45 14 8.9 +1.9
EURZ Xtrackers Eurozone Equity ETF 47.6 9 50 7.1 +0.1
SCHF Schwab International Equity ETF 47.4 6 53 7.3 +0.4
DWM WisdomTree International Equity Fund 46.9 48 11 8.3 +1.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 46.4 35 24 8.6 +1.7
IDEV iShares Core MSCI International Developed Markets ETF 45.4 5 54 7.2 +0.2
OEUR O'shares FTSE Europe Quality Dividend ETF 44.6 48 11 6.9 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 43.3 4 55 7.1 +0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 43.2 25 34 6.7 -0.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 43.1 35 24 6.8 -0.1
FNDF Schwab Fundamental International Large Co. Index ETF 42.9 25 34 8.9 +2.0
PDEV Principal International Multi-Factor Core Index ETF 42.0 25 34 7.9 +0.9
VEA Vanguard FTSE Developed Markets ETF 41.9 5 54 7.4 +0.4
IQLT iShares Edge MSCI Intl Quality Factor ETF 40.7 30 29 6.1 -0.9
IDY Pacific Global International Equity Income ETF 40.5 39 20 8.0 +1.1
SCID Global X Scientific Beta Europe ETF 39.8 39 20 6.4 -0.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 39.2 39 20 6.6 -0.4
CWI SPDR MSCI ACWI ex-US ETF 38.9 30 29 7.3 +0.3
ACWX iShares MSCI ACWI ex U.S. ETF 37.4 32 27 7.3 +0.4
IMTM iShares Edge MSCI Intl Momentum Factor ETF 37.0 30 29 4.4 -2.6
ISDX Invesco Strategic Developed ex-US ETF 37.0 23 36 7.5 +0.5
IQIN IQ 500 International ETF 37.0 25 34 8.7 +1.7
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 36.3 45 14 6.9 -0.1
CIL VictoryShares International Volatility Weighted Index ETF 36.2 45 14 6.9 -0.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 36.0 40 19 7.1 +0.2
VYMI Vanguard International High Dividend Yield ETF 35.7 27 32 10.2 +3.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 35.4 16 43 6.9 -0.1
VEU Vanguard FTSE All-World ex-US Index Fund 35.0 8 51 7.6 +0.6
IXUS ishares Core MSCI Total International Stock ETF 32.6 9 50 7.4 +0.4
RFEU First Trust Riverfront Dynamic Europe ETF 32.2 83 -24 5.9 -1.1
FEZ SPDR EURO STOXX 50 ETF 31.8 29 30 6.8 -0.1
RNDM Developed International Equity Select ETF 31.5 65 -6 6.1 -0.9
EUDG WisdomTree Europe Quality Dividend Growth Fund 31.4 58 1 6.0 -1.0
VSGX Vanguard ESG International Stock ETF 31.3 17 42 7.1 +0.2
ISZE iShares Edge MSCI Intl Size Factor ETF 31.2 30 29 7.2 +0.2
VXUS Vanguard Total International Stock Index Fund 30.7 8 51 7.6 +0.6
NUDM Nuveen ESG International Developed Markets Equity ETF 30.3 40 19 6.8 -0.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 30.1 39 20 8.3 +1.3
AVDE Avantis International Equity ETF 29.4 23 36 7.7 +0.7
DTH WisdomTree DEFA Equity Income Fund 29.1 58 1 9.9 +3.0
PQIN PGIM QMA Strategic Alpha International Equity ETF 28.9 29 30 7.8 +0.8
IGRO iShares International Dividend Growth ETF 28.8 22 37 8.4 +1.5
RFDI First Trust Riverfront Dynamic Developed International ETF 28.7 83 -24 5.7 -1.2
VIGI Vanguard International Dividend Appreciation ETF 28.5 20 39 5.6 -1.4
FIVA Fidelity International Value Factor ETF 28.2 39 20 10.0 +3.1
IDHQ Invesco S&P International Developed Quality ETF 28.2 29 30 5.0 -1.9
VGFO Virtus WMC Global Factor Opportunities ETF 27.9 49 10 8.0 +1.0
FDEV Fidelity Targeted International Factor ETF 27.6 39 20 6.5 -0.5
RBIN Nationwide Risk-Based International Equity ETF 27.6 42 17 6.1 -0.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 26.9 20 39 5.3 -1.7
TPIF Timothy Plan International ETF 26.6 62 -3 6.3 -0.6
IVLU iShares Edge MSCI Intl Value Factor ETF 25.8 30 29 11.1 +4.1
IDMO Invesco S&P International Developed Momentum ETF 24.6 26 33 4.0 -3.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 24.1 32 27 6.0 -1.0
HEDJ WisdomTree Europe Hedged Equity Fund 23.9 58 1 6.9 -0.0
ESGG FlexShares STOXX Global ESG Impact Index Fund 23.8 42 17 5.5 -1.4
QINT American Century Quality Diversified International ETF 23.7 39 20 6.2 -0.8
DOO WisdomTree International Dividend ex-Financials Fund 22.8 58 1 9.0 +2.1
JPIN JPMorgan Diversified Return International Equity ETF 22.2 37 22 7.8 +0.9
FLGB Franklin FTSE United Kingdom ETF 22.0 9 50 8.0 +1.0
IOO iShares Global 100 ETF 21.9 40 19 5.5 -1.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 21.9 24 35 6.9 -0.0
QGBR SPDR MSCI UK StrategicFactors ETF 21.7 14 45 8.2 +1.2
EWU iShares MSCI United Kingdom ETF 21.6 50 9 7.6 +0.6
FEP First Trust Europe AlphaDEX Fund 20.5 80 -21 7.4 +0.4
IQDE FlexShares International Quality Dividend Defensive Index Fd 20.5 47 12 9.2 +2.2
IQDF FlexShares International Quality Dividend Index Fund 19.9 47 12 9.1 +2.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 19.8 29 30 7.8 +0.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 19.7 47 12 9.4 +2.4
QWLD SPDR MSCI World StrategicFactors ETF 19.5 30 29 6.2 -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

  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 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 10.7 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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