iShares Latin America 40 ETF
ALTAR
Score™
9.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
10.2x P/Sales
ratio
0.9x
P/BV
ratio
1.0x Div.
yield
5.3%


  • 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) $828
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) $18,244
Large cap (>$10bn) 64.7%
Mid cap ($2-10bn) 21.2%
Small cap (<$2bn) 3.7%
Developed mkts 2.4%
Emerging mkts 97.6%

TOP TEN HOLDINGS
VALE SA-SP ADR 10.5 %
ITAU UNIBANCO HLDNG-PREF ADR 9.4 %
BANCO BRADESCO-ADR 6.9 %
BM&FBOVESPA SA 6.3 %
AMERICA MOVIL SAB DE CV CLASS L 6.0 %
PETROLEO BRASILEIRO-SPON ADR 5.0 %
WALMART DE MEXICO-SER V 4.9 %
FOMENTO ECONOMICO MEXICA-UBD 4.8 %
AMBEV SA-ADR 4.7 %
CREDICORP LTD 3.6 %
Total 62.0 %

TOP COUNTRY EXPOSURE
BRAZIL 58.9 %
MEXICO 25.3 %
CHILE 9.1 %
PERU 3.6 %
COLOMBIA 2.1 %
UNITED STATES 1.0 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-17.6% -15.2% -0.0% -2.1% 12.1%

Market Correlations
versus... Beta R-squared
S&P500 0.69 16%
MSCI EAFE 1.08 34%
MSCI Emg. Mkts. 1.06 47%

Technical Indicators
Recent close $18.09
30d moving avg. $24.35
Annualized volatility 22.9%
Short interest (ETF) 5.3%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 1,782
Turnover 3.9%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $1,254

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares Latin America 40 ETF 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™: 9.6%


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 ETF 34.9 45 3 10.4 +0.7
FLLA Franklin FTSE Latin America ETF 27.1 19 29 9.2 -0.5
FLMX Franklin FTSE Mexico ETF 25.3 19 29 12.2 +2.6
EWW iShares MSCI Mexico Capped ETF 25.3 49 -1 11.5 +1.9
EWZ iShares MSCI Brazil Capped ETF 13.1 59 -11 7.0 -2.6
FLBR Franklin FTSE Brazil ETF 12.6 19 29 7.6 -2.1
FLN First Trust Latin America AlphaDEX Fund 12.0 80 -32 8.4 -1.2
SLX VanEck Vectors Steel ETF 11.4 56 -8 23.7 +14.0
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 10.1 18 30 7.3 -2.3
FRDM Freedom 100 Emerging Markets ETF 8.4 49 -1 9.1 -0.5
BICK First Trust BICK Index Fund 7.3 64 -16 6.1 -3.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 7.3 70 -22 15.8 +6.2
EMFM Global X MSCI Next Emerging & Frontier ETF 6.3 55 -7 10.4 +0.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 5.5 49 -1 10.2 +0.6
SPEM SPDR Portfolio Emerging Markets ETF 5.5 11 37 10.1 +0.4
XCEM Columbia EM Core ex-China ETF 5.2 16 32 9.8 +0.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 5.2 49 -1 11.2 +1.6
ECH iShares MSCI Chile ETF 5.1 59 -11 10.5 +0.8
EPU iShares MSCI All Peru Capped ETF 5.1 59 -11 8.4 -1.2
DOGS Arrow Dogs of the World ETF 5.0 134 -86 14.5 +4.9
EEMO Invesco S&P Emerging Markets Momentum ETF 4.7 30 18 10.6 +0.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 4.6 39 9 14.9 +5.3
EMXC iShares MSCI Emerging Markets ex China ETF 4.5 49 -1 10.3 +0.7
RNEM Emerging Markets Equity Select ETF 4.0 75 -27 11.3 +1.7
ROAM Hartford Multifactor Emerging Markets ETF 4.0 44 4 17.6 +7.9
PXH Invesco FTSE RAFI Emerging Markets ETF 4.0 50 -2 15.7 +6.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 3.9 45 3 10.5 +0.8
FBZ First Trust Brazil AlphaDEX Fund 3.9 80 -32 8.6 -1.1
EMIF iShares Emerging Markets Infrastructure ETF 3.8 75 -27 9.5 -0.1
NUEM Nuveen ESG Emerging Markets Equity ETF 3.7 45 3 9.3 -0.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.7 60 -12 10.2 +0.6
GNR SPDR S&P Global Natural Resources ETF 3.5 40 8 8.7 -0.9
EDOG ALPS Emerging Sector Dividend Dogs ETF 3.5 60 -12 13.6 +3.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.5 30 18 10.7 +1.1
AVEM Avantis Emerging Markets Equity ETF 3.4 33 15 11.5 +1.8
SCHE Schwab Emerging Markets Equity ETF 3.3 13 35 10.0 +0.4
COPX Global X Copper Miners ETF 3.3 65 -17 11.3 +1.6
ESGE iShares ESG MSCI EM ETF 3.2 25 23 11.3 +1.6
VWO Vanguard FTSE Emerging Markets ETF 3.1 10 38 10.2 +0.6
GXG Global X MSCI Colombia ETF 3.0 61 -13 10.7 +1.1
MXI iShares Global Materials ETF 3.0 46 2 8.2 -1.5
ECON Columbia Emerging Markets Consumer ETF 2.9 59 -11 5.6 -4.0
EMCG WisdomTree Emerging Markets Consumer Growth Fund 2.9 32 16 9.1 -0.5
SDEM Global X SuperDividend Emerging Markets ETF 2.8 67 -19 26.5 +16.8
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 2.7 64 -16 6.7 -2.9
DVEM WisdomTree Emerging Markets Dividend Fund 2.7 32 16 10.7 +1.0
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 2.7 25 23 9.6 0.0
EEM iShares MSCI Emerging Markets ETF 2.6 68 -20 9.8 +0.2
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 2.6 51 -3 13.8 +4.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 2.6 14 34 11.1 +1.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 2.6 30 18 10.1 +0.5
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 2.6 80 -32 2.1 -7.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.5 65 -17 9.9 +0.3
JHEM John Hancock Multifactor Emerging Markets ETF 2.5 55 -7 10.6 +1.0
HAP VanEck Vectors Natural Resources ETF 2.5 50 -2 8.4 -1.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.5 32 16 11.4 +1.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.5 32 16 8.3 -1.4
IEMG iShares Core MSCI Emerging Markets ETF 2.4 14 34 10.3 +0.6
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 2.2 50 -2 12.4 +2.7
VIDI Vident International Equity Fund 2.2 59 -11 15.1 +5.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.2 45 3 10.1 +0.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 2.1 20 28 9.1 -0.6
PID Invesco International Dividend Achievers ETF 2.1 54 -6 9.7 +0.0
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.0 70 -22 8.7 -1.0
VRAI Virtus Real Asset Income ETF 1.9 55 -7 13.0 +3.3
FTRI First Trust Indxx Global Natural Resources Income ETF 1.9 70 -22 14.6 +4.9
DEM WisdomTree Emerging Markets High Dividend Fund 1.9 63 -15 16.7 +7.0
ACT AdvisorShares Vice ETF 1.9 99 -51 7.0 -2.6
IXC iShares Global Energy ETF 1.8 46 2 8.1 -1.5
XKCP SPDR Kensho Clean Power ETF 1.8 45 3 -13.6 -23.3
PICK iShares MSCI Global Metals & Mining Producers ETF 1.8 39 9 10.9 +1.3
GDVD Principal Active Global Dividend Income ETF 1.7 58 -10 8.4 -1.3
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 1.7 51 -3 20.4 +10.8
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 18 9.1 -0.6
EMMF WisdomTree Emerging Markets Multifactor Fund 1.6 48 0 11.6 +1.9
IXG iShares Global Financials ETF 1.5 46 2 11.8 +2.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 1.4 45 3 11.5 +1.8
IPAY ETFMG Prime Mobile Payments ETF 1.4 75 -27 8.7 -0.9
TPAY Tortoise Digital Payments Infrastructure Fund 1.4 40 8 8.1 -1.5
FINX Global X FinTech Thematic ETF 1.4 68 -20 6.0 -3.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.4 59 -11 12.7 +3.1
FEM First Trust Emerging Markets AlphaDEX Fund 1.3 80 -32 14.4 +4.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.3 29 19 12.2 +2.6
KXI iShares Global Consumer Staples ETF 1.3 46 2 5.8 -3.9
BKF iShares MSCI BRIC ETF 1.3 69 -21 9.8 +0.2
VYMI Vanguard International High Dividend Yield ETF 1.2 32 16 11.9 +2.2
CZA Invesco Zacks Mid-Cap ETF 1.2 76 -28 8.7 -1.0
VEU Vanguard FTSE All-World ex-US Index Fund 1.1 8 40 9.3 -0.3
DGT SPDR Global Dow ETF 1.0 50 -2 8.3 -1.3
SOIL Global X Fertilizers/Potash ETF 1.0 69 -21 7.3 -2.4
MOO VanEck Vectors Agribusiness ETF 1.0 54 -6 6.9 -2.8
DIET Defiance Next Gen Food & Agriculture ETF 1.0 30 18 5.7 -3.9
LIT Global X Lithium & Battery Tech ETF 1.0 75 -27 5.2 -4.5
BATT Amplify Advanced Battery Metals & Materials ETF 1.0 72 -24 2.9 -6.8
PBD Invesco Global Clean Energy ETF 1.0 75 -27 0.8 -8.8
PBW Invesco WilderHill Clean Energy ETF 1.0 70 -22 -0.6 -10.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.0 95 -47 12.0 +2.4
MOTI VanEck Vectors Morningstar International Moat ETF 1.0 57 -9 10.5 +0.8
GVAL Cambria Global Value ETF 1.0 69 -21 14.0 +4.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.9 86 -38 3.4 -6.3

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%.

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 Latin America 40 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 9.9 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 9.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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