iShares International Developed Real Estate ETF
ALTAR
Score™
7.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.5x P/Sales
ratio
5.2x
P/BV
ratio
0.9x Div.
yield
3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares FTSE EPRA/NAREIT Developed Real Estate ex-US Index Fund seeks investment results that correspond to the performance of the FTSE EPRA/NAREIT Global Real Estate ex-US Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Nov 12, 2007
Assets (mns) $238
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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 222
Wgt avg mkt cap (mns) $9,843
Large cap (>$10bn) 34.7%
Mid cap ($2-10bn) 53.3%
Small cap (<$2bn) 8.5%
Developed mkts 98.9%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DEUTSCHE ANNINGTON IMMOBILIE 6.0 %
SUN HUNG KAI PROPERTIES 2.8 %
MITSUBISHI ESTATE CO LTD 2.8 %
DEUTSCHE WOHNEN AG 2.7 %
MITSUI FUDOSAN CO LTD 2.6 %
LINK REIT 2.6 %
SEGRO PLC 2.3 %
CK ASSET HOLDINGS LIMITED 2.1 %
SUMITOMO REALTY & DEVELOPMNT 1.9 %
LEG IMMOBILIEN AG 1.6 %
Total 27.3 %

TOP COUNTRY EXPOSURE
JAPAN 21.9 %
HONG KONG 11.9 %
GERMANY 11.3 %
SINGAPORE 7.7 %
BRITAIN 7.2 %
AUSTRALIA 6.9 %
CANADA 4.8 %
SWEDEN 3.8 %
SWITZERLAND 2.8 %
FRANCE 2.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-16.6% -10.1% 2.8% 4.8% 0.2%

Market Correlations
versus... Beta R-squared
S&P500 0.74 57%
MSCI EAFE 0.90 71%
MSCI Emg. Mkts. 0.69 65%

Technical Indicators
Recent close $24.01
30d moving avg. $24.46
Annualized volatility 17.2%
Short interest (ETF) 0.5%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 73
Turnover 0.7%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $85

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares International Developed Real Estate ETF ETF based on the alternatives' overlap in portfolio holdings with IFGL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IFGL Expense: 48 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IFGL
Ticker Fund
Name
Overlap1
vs IFGL
(%)
Expense
ratio
(bp)
Savings
vs IFGL
(bp)
ALTAR
Score™
(%)
ALTAR
vs IFGL
(%)
WPS iShares International Developed Property ETF 73.2 48 0 7.7 +0.1
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 63.0 10 38 9.1 +1.6
RWX SPDR Dow Jones International Real Estate ETF 59.0 59 -11 6.7 -0.9
VNQI Vanguard Global ex-US Real Estate Index Fund 54.5 12 36 10.2 +2.6
DRW WisdomTree Global ex-US Real Estate Fund 47.5 58 -10 10.9 +3.3
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 41.4 60 -12 7.2 -0.4
IFEU iShares Europe Development Real Estate ETF 35.5 48 0 6.8 -0.8
RWO SPDR Dow Jones Global Real Estate ETF 32.9 50 -2 7.1 -0.5
REET iShares Global REIT ETF 27.8 14 34 7.4 -0.2
GQRE FlexShares Global Quality Real Estate Index Fund 25.8 45 3 6.5 -1.0
SCIX Global X Scientific Beta Asia ex-Japan ETF 14.1 38 10 6.8 -0.8
DWX SPDR S&P International Dividend ETF 12.7 45 3 7.7 +0.1
FLHK Franklin FTSE Hong Kong ETF 12.5 9 39 8.2 +0.6
EWH iShares MSCI Hong Kong ETF 12.1 49 -1 7.0 -0.6
EPP iShares MSCI Pacific ex-Japan ETF 9.3 48 0 6.6 -1.0
ZHOK SPDR Solactive Hong Kong ETF 9.0 14 34 6.9 -0.7
IEUS iShares MSCI Europe Small-Cap ETF 8.0 40 8 7.6 +0.0
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 7.8 30 18 8.6 +1.0
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 7.7 19 29 6.9 -0.7
UIVM VictoryShares USAA MSCI International Value Momentum ETF 7.4 35 13 8.5 +1.0
SCID Global X Scientific Beta Europe ETF 7.4 39 9 6.5 -1.1
SCZ iShares MSCI Eafe Small-Cap ETF 7.0 40 8 6.9 -0.7
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 6.6 80 -32 7.6 -0.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 6.5 80 -32 6.5 -1.1
SCHC Schwab International Small-Cap Equity ETF 6.5 11 37 6.6 -1.0
IDLB Invesco FTSE International Low Beta Equal Weight ETF 6.4 45 3 7.0 -0.6
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 6.2 24 24 6.9 -0.6
OEUR O'shares FTSE Europe Quality Dividend ETF 6.2 48 0 6.7 -0.9
RNDM Developed International Equity Select ETF 6.2 65 -17 6.3 -1.3
FEUZ First Trust Eurozone AlphaDEX ETF 6.1 80 -32 7.5 -0.1
SMEZ SPDR EURO STOXX Small Cap ETF 6.0 45 3 6.1 -1.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 5.8 29 19 7.5 -0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 5.7 30 18 7.1 -0.4
FLGR Franklin FTSE Germany ETF 5.3 9 39 7.1 -0.5
EWS iShares MSCI Singapore ETF 5.2 50 -2 8.7 +1.1
SCIJ Global X Scientific Beta Japan ETF 5.1 40 8 6.8 -0.8
EWG iShares MSCI Germany ETF 5.1 49 -1 6.8 -0.8
IPAC iShares Core MSCI Pacific ETF 5.0 9 39 7.0 -0.5
EWJE iShares MSCI Japan Equal Weighted ETF 5.0 15 33 7.0 -0.6
DBGR Xtrackers MSCI Germany Hedged Equity ETF 4.9 45 3 6.8 -0.8
FDT First Trust Developed Markets ex-US Alphadex Fund 4.8 80 -32 7.3 -0.3
FAUS First Trust Australia AlphaDEX Fund 4.8 80 -32 6.0 -1.6
FEP First Trust Europe AlphaDEX Fund 4.8 80 -32 7.3 -0.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 4.7 49 -1 6.3 -1.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 4.7 29 19 7.6 +0.0
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 4.7 40 8 8.4 +0.8
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 4.6 11 37 6.6 -1.0
SCJ iShares MSCI Japan Small-Cap ETF 4.5 49 -1 6.0 -1.6
QDEU SPDR MSCI Germany Quality Mix ETF 4.5 14 34 7.3 -0.3
EWUS iShares MSCI United Kingdom Small Cap ETF 4.5 59 -11 8.5 +0.9
DAX Global X DAX Germany ETF 4.5 21 27 7.3 -0.3
FDEV Fidelity Targeted International Factor ETF 4.4 39 9 6.4 -1.2
FID First Trust S&P International Dividend Aristocrats ETF 4.2 60 -12 10.0 +2.4
WDIV SPDR Global Dividend ETF 4.2 40 8 9.9 +2.3
EWJV iShares MSCI Japan Value ETF 4.1 15 33 10.0 +2.4
EWA iShares MSCI Australia ETF 4.0 50 -2 6.2 -1.4
WWJD Inspire International ESG ETF 3.9 80 -32 7.3 -0.3
FGM First Trust Germany AlphaDEX Fund 3.9 80 -32 6.0 -1.6
EFAV iShares Edge MSCI Min Vol EAFE ETF 3.8 20 28 5.4 -2.2
FLAU Franklin FTSE Australia ETF 3.8 9 39 6.7 -0.9
EFV iShares MSCI EAFE Value ETF 3.8 39 9 9.7 +2.1
MVIN Natixis Seeyond International Minimum Volatility ETF 3.7 56 -8 5.5 -2.1
SDG iShares Sustainable MSCI Global Impact ETF 3.7 49 -1 6.3 -1.3
FNDC Schwab Fundamental International Small Co. Index ETF 3.6 39 9 7.0 -0.6
JPIN JPMorgan Diversified Return International Equity ETF 3.6 37 11 7.8 +0.2
GWX SPDR S&P International Small Cap ETF 3.5 40 8 6.3 -1.3
DIM WisdomTree International MidCap Dividend Fund 3.5 58 -10 7.6 -0.0
TPIF Timothy Plan International ETF 3.5 62 -14 6.2 -1.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 3.4 39 9 6.5 -1.1
DMDV AAM S&P Developed Markets High Dividend Value ETF 3.4 39 9 11.3 +3.7
IEFA iShares Core MSCI EAFE ETF 3.3 7 41 7.2 -0.4
VPL Vanguard FTSE Pacific ETF 3.2 8 40 7.4 -0.2
INTF iShares Edge MSCI Multifactor Intl ETF 3.2 30 18 7.7 +0.2
IDLV Invesco S&P International Developed Low Volatility ETF 3.2 25 23 6.6 -1.0
BBJP JPMorgan BetaBuilders Japan ETF 3.1 19 29 7.2 -0.4
DVYA iShares Asia/Pacific Dividend ETF 3.1 49 -1 13.5 +5.9
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 3.0 83 -35 5.4 -2.2
GCOW Pacer Global High Dividend ETF 3.0 60 -12 10.6 +3.0
FIDI Fidelity International High Dividend ETF 3.0 39 9 11.5 +3.9
FHK First Trust Hong Kong AlphaDEX Fund 3.0 80 -32 9.0 +1.4
IDEV iShares Core MSCI International Developed Markets ETF 3.0 5 43 7.2 -0.4
SPDW SPDR Portfolio Developed World ex-US ETF 2.9 4 44 7.1 -0.5
EFAS Global X MSCI SuperDividend EAFE ETF 2.9 56 -8 9.8 +2.2
EWJ iShares MSCI Japan ETF 2.9 49 -1 6.9 -0.7
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 2.9 20 28 7.0 -0.6
DBJP Xtrackers MSCI Japan Hedged Equity ETF 2.8 45 3 6.9 -0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 2.8 40 8 6.7 -0.9
EFA iShares MSCI EAFE ETF 2.7 32 16 7.0 -0.6
GSID Goldman Sachs MarketBeta International Equity ETF 2.6 20 28 7.3 -0.3
VEA Vanguard FTSE Developed Markets ETF 2.6 5 43 7.3 -0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.6 39 9 8.3 +0.7
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 2.6 20 28 9.7 +2.2
VSGX Vanguard ESG International Stock ETF 2.6 17 31 7.1 -0.5
QJPN SPDR MSCI Japan StrategicFactors ETF 2.6 14 34 7.3 -0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 2.6 20 28 7.4 -0.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.6 50 -2 6.1 -1.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 2.5 35 13 6.8 -0.8
JHMD John Hancock Multifactor Developed International ETF 2.5 39 9 7.3 -0.2

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 International Developed Real Estate 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 6.8 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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