iShares S&P Latin America 40
ALTAR
Score™
6.6% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
14.2x P/Sales
ratio
1.3x
P/BV
ratio
1.6x Div.
yield
3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares S&P Latin America 40 Index fund seeks investment results that correspond to the price and yield performance of Standard & Poor's Latin America 40 Index. The index consists primarily of large cap stocks traded in the Mexican and South American equity markets.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Oct 26, 2001
Assets (mns) $1,716
Currency USD
Expense ratio 48 bp
Distributions Semi-Annually

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 42
Wgt avg mkt cap (mns) $36,968
Large cap (>$10bn) 75.2%
Mid cap ($2-10bn) 15.3%
Small cap (<$2bn) 0.8%
Developed mkts 0.7%
Emerging mkts 99.3%

TOP TEN HOLDINGS
ITAU UNIBANCO HLDNG-PREF ADR 9.9 %
VALE SA-SP ADR 8.8 %
BANCO BRADESCO-ADR 7.8 %
PETROLEO BRASILEIRO-SPON ADR 7.6 %
BM&FBOVESPA SA 5.7 %
PETROLEO BRASILEIRO S.A.-ADR 5.0 %
AMERICA MOVIL SAB DE CV CLASS L 4.4 %
AMBEV SA-ADR 4.3 %
FOMENTO ECONOMICO MEXICA-UBD 4.1 %
WALMART DE MEXICO-SER V 3.5 %
Total 61.0 %

TOP COUNTRY EXPOSURE
BRAZIL 62.8 %
MEXICO 22.1 %
CHILE 8.5 %
PERU 3.3 %
COLOMBIA 2.5 %
UNITED STATES 0.8 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
8.9% 3.5% 0.3% -0.1% 13.3%

Market Correlations
versus... Beta R-squared
S&P500 0.52 8%
MSCI EAFE 1.05 28%
MSCI Emg. Mkts. 1.04 45%

Technical Indicators
Recent close $31.77
30d moving avg. $32.52
Annualized volatility 22.1%
Short interest (ETF) 3.3%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 1,381
Turnover 2.6%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $1,011

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares S&P Latin America 40 ETF based on the alternatives' overlap in portfolio holdings with ILF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ILF Expense: 48 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ILF
Ticker Fund
Name
Overlap1
vs ILF
(%)
Expense
ratio
(bp)
Savings
vs ILF
(bp)
ALTAR
Score™
(%)
ALTAR
vs ILF
(%)
PACA Xtrackers MSCI Latin America Pacific Alliance 30.6 45 3 6.7 +0.1
FLLA Franklin FTSE Latin America 27.5 19 29 6.3 -0.3
FLMX Franklin FTSE Mexico 22.1 19 29 7.0 +0.4
EWW iShares MSCI Mexico 22.1 47 1 6.8 +0.2
EEB Invesco BRIC 19.3 64 -16 7.1 +0.5
ADRE BLDRs Emerging Markets 50 ADR 15.8 30 18 6.7 +0.1
FLBR Franklin FTSE Brazil 14.1 19 29 5.7 -0.9
EWZ iShares MSCI Brazil 13.7 59 -11 5.3 -1.2
DOGS Arrow Dogs of the World 13.4 164 -116 8.0 +1.4
FLN First Trust Latin America AlphaDEX 12.3 80 -32 5.5 -1.0
FRDM Freedom 100 Emerging Markets ETF 10.1 49 -1 8.2 +1.6
SLX VanEck Vectors Steel 9.7 56 -8 13.5 +7.0
EMEM Virtus Glovista Emerging Markets 9.1 67 -19 9.4 +2.8
SPEM SPDR Portfolio Emerging Markets 7.8 11 37 8.5 +2.0
EWEM Invesco MSCI Emerging Market Equal Weight 7.8 70 -22 9.3 +2.8
ECOW Pacer Emerging Markets Cash Cows 100 7.7 70 -22 11.1 +4.6
BICK First Trust BICK Index Fund 7.6 64 -16 6.2 -0.3
EMFM Global X MSCI Next Emerging & Frontier 7.6 55 -7 7.8 +1.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity 7.2 49 -1 9.1 +2.5
KEMX KraneShares MSCI Emerging Markets EX China Index 6.4 49 -1 8.8 +2.2

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%.

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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

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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 S&P Latin America 40
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 10.6 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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