iShares Cybersecurity & Tech ETF
ALTAR
Score™		 3.7% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 32.1x P/Sales
ratio		 3.3x
P/BV
ratio		 4.9x Div.
yield		 0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
IHAK seeks to track the investment results of an index composed of developed and emerging market companies involved in cyber security and technology, including cyber security hardware, software, products, and services.

FUND BASICS
Category Global Equities
Fund Sponsor Blackrock
Website www.ishares.com
Inception date Jun 11, 2019
Assets (mns) $75
Currency USD
Expense ratio 47 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Value
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 42
Wgt avg mkt cap (mns) $13,229
Large cap (>$10bn) 49.6%
Mid cap ($2-10bn) 46.1%
Small cap (<$2bn) 4.3%
Developed mkts 97.3%
Emerging mkts 2.7%

TOP TEN HOLDINGS
DOCUSIGN, INC. 5.3 %
OKTA, INC. CLASS A 4.4 %
CROWDSTRIKE HOLDINGS, INC. CLASS A 4.4 %
AKAMAI TECHNOLOGIES 4.4 %
ZSCALER, INC. 4.3 %
CITRIX SYSTEMS INC 4.2 %
PROOFPOINT INC 4.0 %
TREND MICRO INC 3.9 %
VMWARE INC-CLASS A 3.9 %
PALO ALTO NETWORKS INC 3.8 %
Total 42.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 79.8 %
ISRAEL 6.8 %
BRITAIN 5.4 %
JAPAN 4.4 %
TAIWAN 2.2 %
MALAYSIA 0.5 %
SOUTH KOREA 0.2 %




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.
16.6% -- -- -- 18.1%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $31.94
30d moving avg. $30.85
Annualized volatility 0.0%
Short interest (ETF) 2.0%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 58
Turnover 2.5%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $6,617

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IHAK Expense: 47 bp ALTAR Score™: 3.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IHAK
Ticker Fund
Name		 Overlap1
vs IHAK
(%)		 Expense
ratio
(bp)		 Savings
vs IHAK
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IHAK
(%)
CIBR First Trust NASDAQ CEA Cybersecurity ETF 55.7 60 -13 3.2 -0.5
BUG Global X Cybersecurity ETF 54.3 50 -3 1.2 -2.5
HACK ETFMG Prime Cyber Security ETF 52.0 60 -13 3.0 -0.7
FITE SPDR Kensho Future Security ETF 31.2 45 2 4.0 +0.3
PXQ Invesco Dynamic Networking ETF 28.9 63 -16 4.1 +0.4
CLOU Global X Cloud Computing ETF 17.6 68 -21 0.6 -3.1
PSJ Invesco Dynamic Software ETF 16.7 58 -11 3.9 +0.2
XITK SPDR FactSet Innovative Technology ETF 16.4 45 2 0.3 -3.4
XSW SPDR S&P Software & Services ETF 15.3 35 12 4.0 +0.3
LRNZ TrueMark Technology, AI & Deep Learning ETF 15.0 68 -21 0.8 -2.9
PTF Invesco DWA Technology Momentum ETF 13.6 60 -13 1.2 -2.5
SKYY First Trust Cloud Computing ETF 13.5 60 -13 2.2 -1.6
FXL First Trust Technology AlphaDEX Fund 12.9 61 -14 3.2 -0.6
GDAT Goldman Sachs Motif Data-Driven World Etf 12.7 50 -3 5.0 +1.3
DTEC ALPS Disruptive Technologies ETF 12.2 50 -3 3.6 -0.1
FDN First Trust Dow Jones Internet Index Fund 11.1 52 -5 2.2 -1.5
TECB iShares US Tech Breakthrough Multisector ETF 10.2 40 7 4.0 +0.3
IGV iShares North American Tech-Software ETF 9.6 46 1 2.4 -1.3
ITEQ BlueStar Israel Technology ETF 9.3 75 -28 1.8 -1.9
ISRA VanEck Vectors Israel ETF 8.9 62 -15 6.8 +3.1
WFH Direxion Work From Home ETF 8.8 45 2 5.3 +1.6
PWC Invesco Dynamic Market ETF 8.0 59 -12 4.9 +1.2
FDG American Century Focused Dynamic Growth ETF 8.0 45 2 1.8 -2.0
PPA Invesco Aerospace & Defense ETF 7.9 59 -12 6.1 +2.3
PLCY EventShares U.S. Legislative Opportunities ETF 7.9 75 -28 3.7 0.0
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 7.7 57 -10 5.0 +1.2
FPX First Trust US IPO Index Fund 7.4 58 -11 2.6 -1.1
OGIG O'Shares Global Internet Giants ETF 7.2 48 -1 0.7 -3.0
RYT Invesco S&P 500 Equal Weight Technology ETF 7.1 40 7 6.7 +3.0
EIS iShares MSCI Israel ETF 6.8 59 -12 8.7 +5.0
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 6.7 25 22 7.9 +4.2
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 6.7 60 -13 3.4 -0.3
IWP iShares Russell Mid-Cap Growth ETF 6.5 24 23 4.1 +0.4
STLG iShares Factors US Growth Style ETF 6.5 25 22 3.7 -0.0
JKH iShares Morningstar Mid-Cap Growth ETF 6.5 30 17 2.3 -1.5
JHMT John Hancock Multifactor Technology ETF 6.5 40 7 5.0 +1.3
CACG ClearBridge All Cap Growth ETF 6.3 54 -7 4.4 +0.7
NUMG Nuveen ESG Mid-Cap Growth ETF 6.0 40 7 2.4 -1.4
FTC First Trust Large Cap Growth AlphaDEX Fund 6.0 61 -14 2.9 -0.8
USMF WisdomTree U.S. Multifactor Fund 5.9 28 19 5.5 +1.8
FIVG Defiance Next Gen Connectivity ETF 5.7 30 17 4.9 +1.1
NKEF Sample Portfolio 5.6 0 47 4.0 +0.3
FTHI First Trust High Income ETF 5.4 85 -38 5.0 +1.3
IZRL ARK Israel Innovative Technology ETF 5.4 49 -2 0.4 -3.3
FTLB First Trust Hedged BuyWrite Income ETF 5.4 85 -38 5.0 +1.3
LRGE ClearBridge Large Cap Growth ESG ETF 5.3 59 -12 3.8 +0.1
WCLD WisdomTree Cloud Computing Fund 5.3 45 2 2.0 -1.7
TPAY Tortoise Digital Payments Infrastructure Fund 5.3 40 7 5.9 +2.2
VETS Pacer Military Times Best Employers ETF 5.1 60 -13 7.0 +3.2
XWEB SPDR S&P Internet ETF 5.0 35 12 -0.2 -3.9
MFMS Motley Fool Small-Cap Growth ETF 5.0 85 -38 -1.9 -5.6
THNQ ROBO Global Artificial Intelligence ETF 5.0 68 -21 1.9 -1.8
BLOK Amplify Transformational Data Sharing ETF 4.9 70 -23 4.8 +1.1
RBUS Nationwide Risk-Based U.S. Equity ETF 4.9 30 17 5.1 +1.4
FAD First Trust Multi Cap Growth AlphaDEX Fund 4.8 66 -19 2.5 -1.2
AIEQ AI Powered Equity ETF 4.6 87 -40 3.7 -0.0
QGRO American Century STOXX U.S. Quality Growth ETF 4.5 29 18 3.2 -0.6
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 4.4 75 -28 2.1 -1.7
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 4.4 75 -28 6.0 +2.3
VOT Vanguard Mid-Cap Growth Index Fund 4.3 7 40 3.5 -0.2
BOSS Global X Founder-Run Companies ETF 4.3 45 2 3.7 -0.0
MXDU Nationwide Maximum Diversification US Core Equity ETF 4.3 34 13 4.9 +1.2
FNY First Trust Mid Cap Growth AlphaDEX Fund 4.3 70 -23 2.1 -1.6
IPO Renaissance IPO ETF 4.3 60 -13 23.9 +20.2
BUYZ Franklin Disruptive Commerce ETF 4.2 50 -3 -0.2 -3.9
PNQI Invesco NASDAQ Internet ETF 4.1 62 -15 1.1 -2.6
QMOM Alpha Architect U.S. Quantitative Momentum ETF 4.1 49 -2 2.2 -1.5
DEF Invesco Defensive Equity ETF 4.0 55 -8 5.1 +1.4
FCTR First Trust Lunt U.S. Factor Rotation ETF 4.0 65 -18 3.4 -0.4
PSCT Invesco S&P SmallCap Information Technology ETF 4.0 29 18 5.6 +1.9
IGN iShares North American Tech-Multimedia Networking ETF 3.9 46 1 5.7 +1.9
WLDR Affinity World Leaders Equity ETF 3.9 47 0 9.7 +5.9
PY Principal Shareholder Yield Index ETF 3.9 29 18 9.6 +5.9
ENTR Entrepreneur 30 Fund 3.9 49 -2 2.6 -1.2
KNOW Direxion All Cap Insider Sentiment Shares 3.8 66 -19 5.0 +1.2
BOUT Innovator IBD Breakout Opportunities ETF 3.8 84 -37 3.2 -0.5
CWS AdvisorShares Focused Equity ETF 3.7 85 -38 5.4 +1.7
ARKW ARK Web x.0 ETF 3.6 76 -29 -0.8 -4.6
JKK iShares Morningstar Small-Cap Growth ETF 3.6 30 17 1.1 -2.6
HUSV First Trust Horizon Managed Volatility Domestic ETF 3.6 70 -23 4.8 +1.1
VBK Vanguard Small-Cap Growth Index Fund 3.5 7 40 2.4 -1.3
FFTY Innovator IBD 50 ETF 3.5 80 -33 3.5 -0.2
ECOZ TrueMark ESG Active Opportunities ETF 3.5 58 -11 4.4 +0.7
XKFF SPDR Kensho Final Frontiers ETF 3.3 45 2 6.4 +2.6
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 3.3 75 -28 3.8 +0.1
FEX First Trust Large Cap Core AlphaDEX Fund 3.3 60 -13 6.0 +2.3
TUSA First Trust Total US Market AlphaDEX ETF 3.3 70 -23 6.0 +2.3
XTL SPDR S&P Telecom ETF 3.2 35 12 4.2 +0.4
KOIN Innovation Shares NextGen Protocol ETF 3.2 95 -48 4.4 +0.7
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 3.2 59 -12 4.2 +0.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 3.2 35 12 4.4 +0.7
PDP Invesco DWA Momentum ETF 3.1 62 -15 2.8 -1.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 3.1 4 43 5.8 +2.1
VXF Vanguard Extended Market Index Fund 3.1 7 40 3.8 +0.1
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 3.1 35 12 6.9 +3.1
FTEC Fidelity MSCI Information Technology Index ETF 3.0 8 39 4.6 +0.9
IWO iShares Russell 2000 Growth ETF 3.0 24 23 0.8 -3.0
SPLV Invesco S&P 500 Low Volatility ETF 3.0 25 22 5.7 +2.0
KOMP SPDR Kensho New Economies Composite ETF 2.9 20 27 2.6 -1.2
VO Vanguard Mid-Cap Index Fund 2.9 4 43 5.5 +1.8

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 Cybersecurity & Tech 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 19.0 %
Divided by: Fwd. P/BV 4.5 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 CATEGORY
AVERAGE		 1.50
 
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.