iShares North American Natural Resources
ALTAR
Score™
3.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
20.3x P/Sales
ratio
1.1x
P/BV
ratio
1.4x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares S&P North American Natural Resources Sector Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of U.S.-traded natural resource-related stocks as represented by the S&P North American Natural Resources Sector Index.

FUND BASICS
Category Global Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Oct 26, 2001
Assets (mns) $487
Currency USD
Expense ratio 46 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 115
Wgt avg mkt cap (mns) $73,538
Large cap (>$10bn) 83.0%
Mid cap ($2-10bn) 14.8%
Small cap (<$2bn) 2.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CHEVRON CORP 9.8 %
EXXON MOBIL CORP 9.8 %
ENBRIDGE INC 4.6 %
CONOCOPHILLIPS 4.3 %
SCHLUMBERGER LTD 3.2 %
PHILLIPS 66 3.2 %
SUNCOR ENERGY INC 3.1 %
TRANSCANADA CORP 3.0 %
EOG RESOURCES INC 2.7 %
MARATHON PETROLEUM 2.5 %
Total 46.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 76.2 %
CANADA 21.6 %
BRITAIN 0.6 %
SWITZERLAND 0.2 %
NETHERLANDS 0.2 %






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.
9.4% -3.0% -3.4% 0.4% 6.8%

Market Correlations
versus... Beta R-squared
S&P500 1.16 57%
MSCI EAFE 1.28 58%
MSCI Emg. Mkts. 0.80 36%

Technical Indicators
Recent close $29.59
30d moving avg. $29.32
Annualized volatility 18.6%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.9%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 259
Turnover 1.6%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $11,174

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares North American Natural Resources ETF based on the alternatives' overlap in portfolio holdings with IGE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IGE Expense: 46 bp ALTAR Score™: 3.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IGE
Ticker Fund
Name
Overlap1
vs IGE
(%)
Expense
ratio
(bp)
Savings
vs IGE
(bp)
ALTAR
Score™
(%)
ALTAR
vs IGE
(%)
VDE Vanguard Energy ETF 62.7 10 36 3.9 -0.0
FENY Fidelity MSCI Energy 62.7 8 38 3.9 0.0
IYE iShares DJ US Energy Sector 61.6 42 4 3.9 -0.0
XLE Energy Select Sector SPDR 57.5 13 33 4.3 +0.4
JHME John Hancock Multifactor Energy 51.7 40 6 3.3 -0.7
IXC iShares S&P Global Energy Sector 47.2 46 0 5.1 +1.2
FTXN First Trust Nasdaq Oil & Gas 46.5 60 -14 2.6 -1.3
RYE Invesco S&P Equal Weight Energy ETF 44.6 40 6 3.4 -0.5
XLEY Cushing Energy & MLP 39.3 65 -19 3.5 -0.4
NANR SPDR S&P N. American Nat. Resources 38.8 35 11 4.0 +0.1
FILL iShares MSCI Global Energy Producers 38.3 39 7 5.6 +1.7
FXN First Trust Energy Alphadex 36.9 63 -17 4.2 +0.3
XLSY Cushing Energy Supply Chain & MLP 32.2 65 -19 5.4 +1.4
PXI Invesco Dynamic Energy Sector 30.2 60 -14 -0.8 -4.7
XOP SPDR S&P Oil & Gas Exploration 30.2 35 11 3.5 -0.5
IEO iShares U.S. Oil & Gas Exploration & Production 27.1 42 4 3.2 -0.8
HAP VanEck Vectors Hard Asset Producers 23.4 50 -4 5.8 +1.8
FDL First Trust Morningstar Dividend Leaders 22.0 45 1 8.5 +4.5
HDV iShares High Dividend 21.3 8 38 6.6 +2.6
GNR SPDR S&P Global Nat. Resources 21.2 40 6 6.4 +2.4

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 North American Natural Resources
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 6.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 3.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.55
 
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.