iShares North American Tech-Software ETF
ALTAR
Score™
2.3% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
44.5x P/Sales
ratio
9.0x
P/BV
ratio
9.3x Div.
yield
0.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Goldman Sachs Software Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of U.S.-traded software-related stocks as represented by the Goldman Sachs Technology Industry Software Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jul 10, 2001
Assets (mns) $5,069
Currency USD
Expense ratio 46 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 102
Wgt avg mkt cap (mns) $204,467
Large cap (>$10bn) 83.9%
Mid cap ($2-10bn) 15.0%
Small cap (<$2bn) 1.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ADOBE SYSTEMS INC 8.8 %
SALESFORCE.COM INC 8.6 %
MICROSOFT CORP 8.5 %
ORACLE CORP 7.7 %
SERVICENOW INC 5.2 %
INTUIT INC 5.1 %
ACTIVISION BLIZZARD INC 4.0 %
AUTODESK INC 3.5 %
ELECTRONIC ARTS INC 2.6 %
SPLUNK INC 2.1 %
Total 56.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.1 %
CANADA 1.2 %









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.
22.7% 30.9% 23.8% 21.1% 9.9%

Market Correlations
versus... Beta R-squared
S&P500 1.03 75%
MSCI EAFE 0.97 58%
MSCI Emg. Mkts. 0.70 48%

Technical Indicators
Recent close $299.92
30d moving avg. $276.22
Annualized volatility 20.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.7%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 1,095
Turnover 6.5%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $39,438

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares North American Tech-Software ETF ETF based on the alternatives' overlap in portfolio holdings with IGV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IGV Expense: 46 bp ALTAR Score™: 2.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IGV
Ticker Fund
Name
Overlap1
vs IGV
(%)
Expense
ratio
(bp)
Savings
vs IGV
(bp)
ALTAR
Score™
(%)
ALTAR
vs IGV
(%)
XSW SPDR S&P Software & Services ETF 35.7 35 11 4.0 +1.7
JHMT John Hancock Multifactor Technology ETF 35.6 40 6 4.8 +2.5
FXL First Trust Technology AlphaDEX Fund 32.2 61 -15 3.0 +0.7
SKYY First Trust Cloud Computing ETF 29.8 60 -14 2.1 -0.3
TECB iShares US Tech Breakthrough Multisector ETF 29.3 40 6 3.9 +1.6
IYW iShares U.S. Technology ETF 26.3 42 4 3.9 +1.6
OGIG O'Shares Global Internet Giants ETF 25.3 48 -2 0.6 -1.7
FTEC Fidelity MSCI Information Technology Index ETF 25.3 8 38 4.5 +2.1
VGT Vanguard Information Technology Index Fund 24.9 10 36 4.4 +2.1
AIQ Global X Future Analytics Tech ETF 24.9 68 -22 3.7 +1.4
IGM iShares Expanded Tech Sector ETF 24.1 46 0 3.7 +1.4
PSJ Invesco Dynamic Software ETF 23.8 58 -12 3.8 +1.4
IETC iShares Evolved U.S. Technology ETF 23.4 18 28 3.7 +1.4
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 22.4 57 -11 4.8 +2.4
JKH iShares Morningstar Mid-Cap Growth ETF 22.4 30 16 2.2 -0.1
XNTK SPDR NYSE Technology ETF 22.3 35 11 3.5 +1.2
SYG SPDR MFS Systematic Growth Equity ETF 22.0 60 -14 4.2 +1.9
PTF Invesco DWA Technology Momentum ETF 21.9 60 -14 1.1 -1.2
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 21.8 75 -29 1.9 -0.4
PWB Invesco Dynamic Large Cap Growth ETF 21.6 55 -9 3.3 +1.0
NULG Nuveen ESG Large-Cap Growth ETF 21.4 35 11 3.5 +1.2
STLG iShares Factors US Growth Style ETF 21.2 25 21 3.6 +1.3
XLK Technology Select Sector SPDR Fund 20.9 13 33 4.6 +2.3
RYT Invesco S&P 500 Equal Weight Technology ETF 20.3 40 6 6.7 +4.4
JKE iShares Morningstar Large-Cap Growth ETF 19.6 25 21 2.8 +0.5
PNQI Invesco NASDAQ Internet ETF 19.4 62 -16 1.0 -1.3
FTC First Trust Large Cap Growth AlphaDEX Fund 19.0 61 -15 2.8 +0.5
IWP iShares Russell Mid-Cap Growth ETF 18.7 24 22 4.0 +1.7
GDAT Goldman Sachs Motif Data-Driven World Etf 18.6 50 -4 4.8 +2.5
IXN iShares Global Tech ETF 18.4 46 0 4.4 +2.1
THNQ ROBO Global Artificial Intelligence ETF 17.9 68 -22 1.8 -0.5
VBK Vanguard Small-Cap Growth Index Fund 17.3 7 39 2.4 +0.1
QGRO American Century STOXX U.S. Quality Growth ETF 17.3 29 17 3.1 +0.7
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 17.2 75 -29 3.7 +1.4
PDP Invesco DWA Momentum ETF 17.1 62 -16 2.7 +0.4
IWF iShares Russell 1000 Growth ETF 16.9 19 27 4.1 +1.7
CACG ClearBridge All Cap Growth ETF 16.6 54 -8 4.3 +2.0
LRGE ClearBridge Large Cap Growth ESG ETF 16.6 59 -13 3.7 +1.4
XITK SPDR FactSet Innovative Technology ETF 16.5 45 1 0.3 -2.0
MTUM iShares Edge MSCI USA Momentum Factor ETF 16.3 15 31 4.0 +1.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 16.0 66 -20 2.5 +0.2
VONG Vanguard Russell 1000 Growth Index Fund 15.7 8 38 4.2 +1.8
QYLD Global X NASDAQ 100 Covered Call ETF 15.7 60 -14 3.5 +1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 15.6 49 -3 4.1 +1.7
RPG Invesco S&P 500 Pure Growth ETF 15.5 35 11 4.4 +2.0
KOIN Innovation Shares NextGen Protocol ETF 15.5 95 -49 4.3 +1.9
SCHG Schwab U.S. Large-Cap Growth ETF 15.5 4 42 4.0 +1.7
NUSI Nationwide Risk-Managed Income ETF 15.5 68 -22 3.4 +1.1
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 15.4 49 -3 5.2 +2.8
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 15.3 59 -13 4.1 +1.8
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 15.2 35 11 4.3 +2.0
QQQ Invesco QQQ Trust 15.2 20 26 3.7 +1.4
DTEC ALPS Disruptive Technologies ETF 15.2 50 -4 3.5 +1.2
DSI iShares MSCI KLD 400 Social ETF 15.1 25 21 5.1 +2.8
TMFC Motley Fool 100 Index ETF 15.1 50 -4 3.6 +1.3
VUG Vanguard Growth Index Fund 14.9 4 42 4.0 +1.6
FCTR First Trust Lunt U.S. Factor Rotation ETF 14.9 65 -19 3.4 +1.1
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 14.9 21 25 2.9 +0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 14.8 60 -14 4.3 +2.0
IWY iShares Russell Top 200 Growth ETF 14.8 20 26 4.0 +1.7
JMOM JPMorgan U.S. Momentum Factor ETF 14.7 12 34 3.8 +1.5
SPMO Invesco S&P 500 Momentum ETF 14.7 13 33 4.3 +2.0
TDIV First Trust NASDAQ Technology Dividend Index Fund 14.6 50 -4 5.8 +3.4
CLRG IQ Chaikin U.S. Large Cap ETF 14.6 25 21 6.1 +3.8
VEGN US Vegan Climate ETF 14.2 60 -14 5.2 +2.8
MGK Vanguard Mega Cap Growth ETF 14.1 7 39 4.0 +1.7
IUSG iShares Core S&P US Growth ETF 14.1 4 42 4.3 +2.0
IVW iShares S&P 500 Growth ETF 14.1 18 28 4.1 +1.8
SPYG SPDR Portfolio S&P 500 Growth ETF 14.1 4 42 4.3 +1.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 14.1 12 34 4.8 +2.5
CLOU Global X Cloud Computing ETF 14.0 68 -22 0.6 -1.8
NUMG Nuveen ESG Mid-Cap Growth ETF 14.0 40 6 2.3 -0.0
BOSS Global X Founder-Run Companies ETF 14.0 45 1 3.7 +1.3
VOOG Vanguard S&P 500 Growth ETF 14.0 10 36 4.2 +1.9
USMF WisdomTree U.S. Multifactor Fund 13.9 28 18 5.5 +3.2
IQSU IQ Candriam ESG US Equity ETF 13.7 9 37 5.0 +2.7
FDN First Trust Dow Jones Internet Index Fund 13.7 52 -6 2.1 -0.2
SPHQ Invesco S&P 500 Quality ETF 13.5 15 31 4.6 +2.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 13.4 10 36 5.3 +3.0
GVIP Goldman Sachs Hedge Industry VIP ETF 13.4 45 1 4.6 +2.3
SUSL iShares ESG MSCI USA Leaders ETF 13.4 10 36 5.3 +3.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 13.0 12 34 4.9 +2.6
SYE SPDR MFS Systematic Core Equity ETF 12.9 60 -14 5.6 +3.3
FFTY Innovator IBD 50 ETF 12.8 80 -34 3.3 +1.0
LRGF iShares Edge MSCI Multifactor USA ETF 12.7 20 26 7.4 +5.1
SUSA iShares MSCI USA ESG Select ETF 12.5 25 21 4.8 +2.5
LRNZ TrueMark Technology, AI & Deep Learning ETF 12.4 68 -22 0.7 -1.6
SFY SoFi Select 500 ETF 12.4 0 46 5.2 +2.9
WCLD WisdomTree Cloud Computing Fund 12.2 45 1 1.9 -0.5
RFDA RiverFront Dynamic US Dividend Advantage ETF 12.1 52 -6 5.0 +2.7
XLG Invesco S&P 500 Top 50 ETF 12.1 20 26 4.4 +2.1
FDMO Fidelity Momentum Factor ETF 12.0 29 17 3.8 +1.4
SPXV ProShares S&P 500 Ex-Health Care ETF 11.9 27 19 5.0 +2.7
PWC Invesco Dynamic Market ETF 11.8 59 -13 4.8 +2.5
ESGV Vanguard ESG U.S. Stock ETF 11.7 12 34 5.2 +2.8
VOT Vanguard Mid-Cap Growth Index Fund 11.6 7 39 3.4 +1.1
EXT WisdomTree U.S. Total Earnings Fund 11.6 28 18 5.2 +2.9
SPXN ProShares S&P 500 Ex-Financials ETF 11.6 27 19 5.0 +2.6
SNPE Xtrackers S&P 500 ESG ETF 11.5 11 35 5.1 +2.8
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 11.5 7 39 5.6 +3.3

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 North American Tech-Software ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 23.3 %
Divided by: Fwd. P/BV 8.4 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 2.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.52
 
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.