iShares Europe Development Real Estate ETF
ALTAR
Score™
6.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.9x P/Sales
ratio
10.6x
P/BV
ratio
1.0x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares FTSE EPRA/NAREIT Europe Index Fund seeks investment results that correspond to the FTSE EPRA/NAREIT Europe Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Nov 12, 2007
Assets (mns) $21
Currency USD
Expense ratio 48 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 102
Wgt avg mkt cap (mns) $8,682
Large cap (>$10bn) 30.4%
Mid cap ($2-10bn) 57.2%
Small cap (<$2bn) 8.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DEUTSCHE ANNINGTON IMMOBILIE 13.6 %
DEUTSCHE WOHNEN AG 6.7 %
SEGRO PLC 5.5 %
LEG IMMOBILIEN AG 3.7 %
UNIBAIL-RODAMCO-WESTFIELD STAPLED 3.1 %
AROUNDTOWN SA 2.9 %
SWISS PRIME SITE-REG 2.8 %
GECINA SA 2.6 %
CASTELLUM AB 2.1 %
LAND SECURITIES GROUP PLC 2.1 %
Total 45.1 %

TOP COUNTRY EXPOSURE
GERMANY 26.6 %
BRITAIN 18.8 %
SWEDEN 8.4 %
SWITZERLAND 7.0 %
FRANCE 6.7 %
BELGIUM 4.9 %
NETHERLANDS 4.0 %
LUXEMBOURG 4.0 %
SPAIN 2.4 %
AUSTRIA 0.9 %

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.
-21.5% -8.5% 1.0% 7.3% 1.0%

Market Correlations
versus... Beta R-squared
S&P500 0.76 48%
MSCI EAFE 0.94 64%
MSCI Emg. Mkts. 0.70 56%

Technical Indicators
Recent close $32.95
30d moving avg. $32.81
Annualized volatility 18.6%
Short interest (ETF) 0.3%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.5%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $1,826

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares Europe Development Real Estate ETF ETF based on the alternatives' overlap in portfolio holdings with IFEU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IFEU Expense: 48 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IFEU
Ticker Fund
Name
Overlap1
vs IFEU
(%)
Expense
ratio
(bp)
Savings
vs IFEU
(bp)
ALTAR
Score™
(%)
ALTAR
vs IFEU
(%)
IFGL iShares International Developed Real Estate ETF 34.9 48 0 7.6 +1.1
RWX SPDR Dow Jones International Real Estate ETF 33.2 59 -11 6.6 +0.2
WPS iShares International Developed Property ETF 29.1 48 0 7.9 +1.4
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 23.1 10 38 9.1 +2.6
VNQI Vanguard Global ex-US Real Estate Index Fund 21.1 12 36 9.9 +3.5
DRW WisdomTree Global ex-US Real Estate Fund 20.5 58 -10 10.6 +4.1
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 15.8 60 -12 7.2 +0.7
SMEZ SPDR EURO STOXX Small Cap ETF 13.5 45 3 6.4 -0.1
RWO SPDR Dow Jones Global Real Estate ETF 13.2 50 -2 7.0 +0.5
GQRE FlexShares Global Quality Real Estate Index Fund 12.8 45 3 6.9 +0.4
FGM First Trust Germany AlphaDEX Fund 9.5 80 -32 6.8 +0.4
REET iShares Global REIT ETF 8.7 14 34 7.4 +0.9
IEUS iShares MSCI Europe Small-Cap ETF 8.1 40 8 8.1 +1.6
EWUS iShares MSCI United Kingdom Small Cap ETF 7.9 59 -11 8.5 +2.0
FEUZ First Trust Eurozone AlphaDEX ETF 7.7 80 -32 7.8 +1.3
SCID Global X Scientific Beta Europe ETF 7.6 39 9 6.5 +0.1
OEUR O'shares FTSE Europe Quality Dividend ETF 6.3 48 0 6.6 +0.2
DDEZ WisdomTree Europe Multifactor Fund 5.9 43 5 7.1 +0.6
FEP First Trust Europe AlphaDEX Fund 5.5 80 -32 7.8 +1.4
FLGR Franklin FTSE Germany ETF 5.2 9 39 7.4 +0.9
EWG iShares MSCI Germany ETF 5.1 49 -1 7.0 +0.5
DBGR Xtrackers MSCI Germany Hedged Equity ETF 5.0 45 3 7.0 +0.6
EWK iShares MSCI Belgium Capped ETF 4.8 49 -1 6.7 +0.2
SCHC Schwab International Small-Cap Equity ETF 4.5 11 37 6.9 +0.5
QDEU SPDR MSCI Germany Quality Mix ETF 4.4 14 34 7.6 +1.1
SCZ iShares MSCI Eafe Small-Cap ETF 4.3 40 8 7.4 +0.9
DAX Global X DAX Germany ETF 4.2 21 27 7.7 +1.2
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 4.2 40 8 8.9 +2.4
EUMV iShares Edge MSCI Min Vol Europe ETF 4.0 25 23 5.0 -1.4
DWX SPDR S&P International Dividend ETF 4.0 45 3 8.0 +1.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 3.8 24 24 7.3 +0.8
EWGS iShares MSCI Germany Small Cap ETF 3.8 59 -11 5.2 -1.3
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 3.7 80 -32 5.9 -0.6
RNDM Developed International Equity Select ETF 3.6 65 -17 6.5 -0.0
FSZ First Trust Switzerland AlphaDEX Fund 3.4 80 -32 6.2 -0.3
JPEU JPMorgan Diversified Return Europe Equity ETF 3.3 37 11 7.0 +0.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 3.3 58 -10 8.1 +1.6
FKU First Trust United Kingdom AlphaDEX Fund 3.2 80 -32 9.3 +2.9
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 3.1 11 37 6.9 +0.5
FDD First Trust Stoxx European Select Dividend Index Fund 3.0 58 -10 11.5 +5.1
EFAS Global X MSCI SuperDividend EAFE ETF 3.0 56 -8 9.7 +3.2
UIVM VictoryShares USAA MSCI International Value Momentum ETF 2.9 35 13 8.9 +2.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 2.6 49 -1 6.8 +0.3
SDG iShares Sustainable MSCI Global Impact ETF 2.6 49 -1 5.9 -0.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 2.5 45 3 6.8 +0.3
DFE WisdomTree Europe SmallCap Dividend Fund 2.4 58 -10 8.7 +2.2
FDT First Trust Developed Markets ex-US Alphadex Fund 2.4 80 -32 7.7 +1.2
EURZ Xtrackers Eurozone Equity ETF 2.4 9 39 7.1 +0.6
IEUR iShares Core MSCI Europe ETF 2.3 9 39 7.3 +0.8
PIZ Invesco DWA Developed Markets Momentum ETF 2.3 81 -33 4.3 -2.2
VGK Vanguard FTSE Europe ETF 2.3 8 40 7.5 +1.0
RFEU First Trust Riverfront Dynamic Europe ETF 2.2 83 -35 5.4 -1.1
FEU SPDR Portfolio Europe ETF 2.1 9 39 7.4 +0.9
WWJD Inspire International ESG ETF 2.1 80 -32 7.6 +1.1
DLS WisdomTree International SmallCap Dividend Fund 2.1 58 -10 8.7 +2.3
PQIN PGIM QMA Strategic Alpha International Equity ETF 2.1 29 19 7.8 +1.3
DIM WisdomTree International MidCap Dividend Fund 2.1 58 -10 7.8 +1.4
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 2.1 43 5 8.9 +2.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 2.0 29 19 8.8 +2.3
EZU iShares MSCI Eurozone ETF 2.0 49 -1 6.6 +0.2
FDEV Fidelity Targeted International Factor ETF 2.0 39 9 6.5 +0.1
JHMD John Hancock Multifactor Developed International ETF 2.0 39 9 7.5 +1.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 1.7 39 9 6.7 +0.2
IDLB Invesco FTSE International Low Beta Equal Weight ETF 1.7 45 3 7.3 +0.8
GWX SPDR S&P International Small Cap ETF 1.7 40 8 6.8 +0.3
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 1.7 30 18 6.8 +0.4
DWMF WisdomTree International Multifactor Fund 1.7 38 10 6.8 +0.3
FNDC Schwab Fundamental International Small Co. Index ETF 1.7 39 9 7.5 +1.0
FLEH Franklin FTSE Europe Hedged ETF 1.7 9 39 7.1 +0.6
FLEE Franklin FTSE Europe ETF 1.7 9 39 7.0 +0.6
RBIN Nationwide Risk-Based International Equity ETF 1.6 42 6 6.5 +0.0
MVIN Natixis Seeyond International Minimum Volatility ETF 1.6 56 -8 5.4 -1.1
EWQ iShares MSCI France ETF 1.6 50 -2 6.5 -0.0
IMOM Alpha Architect International Quantitative Momentum ETF 1.6 59 -11 3.4 -3.0
FIDI Fidelity International High Dividend ETF 1.6 39 9 11.0 +4.6
DMDV AAM S&P Developed Markets High Dividend Value ETF 1.5 39 9 11.1 +4.7
FIVA Fidelity International Value Factor ETF 1.5 39 9 10.1 +3.6
FID First Trust S&P International Dividend Aristocrats ETF 1.4 60 -12 9.8 +3.4
IDLV Invesco S&P International Developed Low Volatility ETF 1.4 25 23 6.7 +0.2
IEV iShares Europe ETF 1.4 59 -11 6.8 +0.4
BBEU JPMorgan BetaBuilders Europe ETF 1.4 9 39 7.4 +0.9
IEFA iShares Core MSCI EAFE ETF 1.4 7 41 7.4 +0.9
DBEU Xtrackers MSCI Europe Hedged Equity ETF 1.4 45 3 6.6 +0.2
NUDM Nuveen ESG International Developed Markets Equity ETF 1.4 40 8 7.0 +0.5
ISZE iShares Edge MSCI Intl Size Factor ETF 1.3 30 18 7.5 +1.0
FLGB Franklin FTSE United Kingdom ETF 1.3 9 39 7.6 +1.2
IGRO iShares International Dividend Growth ETF 1.3 22 26 8.1 +1.6
JPIN JPMorgan Diversified Return International Equity ETF 1.3 37 11 8.1 +1.6
EFV iShares MSCI EAFE Value ETF 1.2 39 9 9.6 +3.1
OLD The Long-Term Care ETF 1.2 30 18 6.5 -0.0
EWU iShares MSCI United Kingdom ETF 1.2 50 -2 7.1 +0.6
VEA Vanguard FTSE Developed Markets ETF 1.2 5 43 7.5 +1.1
LVIN Hartford Multifactor Low Volatility International Equity ETF 1.2 29 19 12.3 +5.9
IDEV iShares Core MSCI International Developed Markets ETF 1.2 5 43 7.3 +0.8
QGBR SPDR MSCI UK StrategicFactors ETF 1.2 14 34 7.6 +1.2
TPIF Timothy Plan International ETF 1.2 62 -14 6.4 -0.1
WDIV SPDR Global Dividend ETF 1.1 40 8 9.9 +3.4
BLES Inspire Global Hope Large Cap ETF 1.1 52 -4 6.5 +0.0
FLFR Franklin FTSE France ETF 1.1 9 39 6.9 +0.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 1.1 58 -10 6.1 -0.3

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

  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 Development Real Estate ETF
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 6.6 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 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.