iShares S&P Europe 350
ALTAR
Score™
6.4% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
15.3x P/Sales
ratio
1.2x
P/BV
ratio
1.7x Div.
yield
3.6%


  • 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 28, 2000
Assets (mns) $1,695
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 367
Wgt avg mkt cap (mns) $83,871
Large cap (>$10bn) 92.4%
Mid cap ($2-10bn) 7.1%
Small cap (<$2bn) 0.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 3.5 %
NOVARTIS AG-REG 2.6 %
ROCHE HOLDING AG-GENUSSCHEIN 2.4 %
HSBC HOLDINGS PLC 1.7 %
SAP AG 1.7 %
TOTAL SA 1.6 %
BP PLC 1.5 %
ROYAL DUTCH SHELL PLC-A SHS 1.4 %
ASTRAZENECA PLC 1.4 %
LVMH MOET HENNESSY LOUIS VUI 1.3 %
Total 19.2 %

TOP COUNTRY EXPOSURE
BRITAIN 25.9 %
FRANCE 16.1 %
SWITZERLAND 16.0 %
GERMANY 13.5 %
NETHERLANDS 6.9 %
SPAIN 4.3 %
SWEDEN 3.9 %
ITALY 3.2 %
DENMARK 2.8 %
FINLAND 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
19.0% 12.9% 3.1% 4.5% 4.4%

Market Correlations
versus... Beta R-squared
S&P500 0.77 58%
MSCI EAFE 1.08 95%
MSCI Emg. Mkts. 0.73 68%

Technical Indicators
Recent close $45.27
30d moving avg. $45.15
Annualized volatility 12.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 239
Turnover 0.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $25,169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares S&P Europe 350 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™: 6.4%


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 91.3 9 50 6.8 +0.5
DBEU Xtrackers Europe Hedged 90.8 45 14 6.5 +0.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 89.7 30 29 6.7 +0.3
FLEE Franklin FTSE Europe 89.6 9 50 6.8 +0.5
FLEH Franklin FTSE Europe Hedged 88.4 9 50 6.9 +0.6
IEUR iShares Core MSCI Europe 82.3 9 50 6.8 +0.4
VGK Vanguard FTSE Europe 80.9 9 50 6.9 +0.5
FEU SPDR DJ Stoxx 50 80.3 9 50 6.8 +0.4
GSEU Goldman Sachs ActiveBeta Europe Equity 69.5 25 34 6.3 -0.1
EFA iShares MSCI EAFE 58.6 31 28 6.9 +0.5
DOL WisdomTree Int'l Large Cap Dividend 57.2 48 11 7.7 +1.3
EFAX SPDR MSCI EAFE Fossil Fuel Free 56.9 20 39 7.0 +0.6
DBEF Xtrackers MSCI EAFE Hedged 56.7 35 24 6.9 +0.5
HFXI IQ 50 Percent Hedged FTSE Int'l 55.1 20 39 7.2 +0.9
ESGD iShares MSCI EAFE ESG Optimized 55.1 20 39 6.8 +0.5
PBDM Invesco PureBeta FTSE Developed ex-North America 52.4 7 52 7.4 +1.1
JHMD John Hancock Multifactor Developed International 51.7 45 14 7.1 +0.8
EFG iShares MSCI EAFE Growth 51.6 40 19 5.0 -1.4
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 51.3 35 24 7.8 +1.5
DWM WisdomTree DEFA Fund 51.2 48 11 7.6 +1.3

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 S&P Europe 350
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 11.3 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 6.4 %
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.