iShares Latin America 40 ETF
ALTAR
Score™
6.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.7x P/Sales
ratio
1.3x
P/BV
ratio
1.3x Div.
yield
2.9%


  • 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 25, 2001
Assets (mns) $942
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) $20,738
Large cap (>$10bn) 67.0%
Mid cap ($2-10bn) 20.1%
Small cap (<$2bn) 1.9%
Developed mkts 3.3%
Emerging mkts 96.7%

TOP TEN HOLDINGS
VALE SA-SP ADR 10.9 %
ITAU UNIBANCO HLDNG-PREF ADR 7.6 %
BM&FBOVESPA SA 7.0 %
PETROLEO BRASILEIRO-SPON ADR 6.0 %
BANCO BRADESCO-ADR 5.6 %
AMERICA MOVIL SAB DE CV CLASS L 5.0 %
WALMART DE MEXICO-SER V 4.0 %
AMBEV SA-ADR 3.9 %
FOMENTO ECONOMICO MEXICA-UBD 3.8 %
PETROLEO BRASILEIRO S.A.-ADR 3.7 %
Total 57.5 %

TOP COUNTRY EXPOSURE
BRAZIL 61.5 %
MEXICO 22.1 %
CHILE 8.7 %
PERU 3.0 %
COLOMBIA 2.6 %
UNITED STATES 1.1 %





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.
-35.7% -34.2% -3.8% -3.9% 10.4%

Market Correlations
versus... Beta R-squared
S&P500 1.08 35%
MSCI EAFE 1.50 58%
MSCI Emg. Mkts. 1.24 62%

Technical Indicators
Recent close $22.04
30d moving avg. $21.97
Annualized volatility 31.2%
Short interest (ETF) 4.6%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 2,484
Turnover 5.8%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $2,279

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 6.9%


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 32.0 45 3 8.3 +1.4
FLLA Franklin FTSE Latin America ETF 29.5 19 29 6.8 -0.1
FLN First Trust Latin America AlphaDEX Fund 23.2 80 -32 8.0 +1.1
FLMX Franklin FTSE Mexico ETF 22.3 19 29 9.9 +3.0
EWW iShares MSCI Mexico Capped ETF 22.3 49 -1 9.0 +2.1
EWZ iShares MSCI Brazil Capped ETF 17.4 59 -11 4.8 -2.1
FLBR Franklin FTSE Brazil ETF 16.8 19 29 5.3 -1.6
SLX VanEck Vectors Steel ETF 12.0 56 -8 15.8 +8.9
BICK First Trust BICK Index Fund 11.2 64 -16 5.0 -1.9
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 10.0 18 30 6.0 -0.9
FRDM Freedom 100 Emerging Markets ETF 8.0 49 -1 7.2 +0.3
FBZ First Trust Brazil AlphaDEX Fund 7.9 80 -32 5.4 -1.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 7.9 70 -22 13.7 +6.8
EMFM Global X MSCI Next Emerging & Frontier ETF 7.2 66 -18 9.1 +2.2
PID Invesco International Dividend Achievers ETF 6.2 54 -6 9.8 +2.9
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 6.0 49 -1 8.3 +1.4
XCEM Columbia EM Core ex-China ETF 5.6 16 32 7.6 +0.7
SPEM SPDR Portfolio Emerging Markets ETF 5.5 11 37 8.3 +1.4
SDEM Global X SuperDividend Emerging Markets ETF 5.4 66 -18 16.4 +9.5
ECH iShares MSCI Chile ETF 4.9 59 -11 8.0 +1.1
EPU iShares MSCI All Peru Capped ETF 4.9 59 -11 5.8 -1.1
EMXC iShares MSCI Emerging Markets ex China ETF 4.8 25 23 8.6 +1.7
NUEM Nuveen ESG Emerging Markets Equity ETF 4.8 45 3 7.7 +0.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 4.5 44 4 9.3 +2.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 4.5 39 9 13.3 +6.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 4.5 60 -12 8.7 +1.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 4.2 49 -1 9.0 +2.1
ROAM Hartford Multifactor Emerging Markets ETF 4.1 44 4 15.3 +8.4
PXH Invesco FTSE RAFI Emerging Markets ETF 3.9 50 -2 13.7 +6.8
RNEM Emerging Markets Equity Select ETF 3.9 75 -27 10.7 +3.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.8 30 18 9.1 +2.2
FEM First Trust Emerging Markets AlphaDEX Fund 3.6 80 -32 11.6 +4.7
COPX Global X Copper Miners ETF 3.6 65 -17 7.1 +0.2
EMIF iShares Emerging Markets Infrastructure ETF 3.5 60 -12 8.5 +1.6
EDOG ALPS Emerging Sector Dividend Dogs ETF 3.5 60 -12 11.1 +4.2
GNR SPDR S&P Global Natural Resources ETF 3.5 40 8 6.7 -0.2
GXG Global X MSCI Colombia ETF 3.4 62 -14 9.6 +2.7
EMCG WisdomTree Emerging Markets Consumer Growth Fund 3.4 32 16 7.5 +0.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.3 95 -47 9.9 +3.0
SCHE Schwab Emerging Markets Equity ETF 3.3 11 37 8.4 +1.5
EEMO Invesco S&P Emerging Markets Momentum ETF 3.3 29 19 7.0 +0.1
AVEM Avantis Emerging Markets Equity ETF 3.2 33 15 9.4 +2.5
ESGE iShares ESG MSCI EM ETF 3.2 25 23 9.2 +2.3
VWO Vanguard FTSE Emerging Markets ETF 3.2 10 38 8.6 +1.7
MXI iShares Global Materials ETF 3.1 46 2 6.2 -0.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 3.0 80 -32 4.1 -2.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 3.0 36 12 8.7 +1.8
DVEM WisdomTree Emerging Markets Dividend Fund 2.9 32 16 8.6 +1.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.9 32 16 9.4 +2.5
BKEM BNY Mellon Emerging Markets Equity ETF 2.9 11 37 8.9 +2.0
PBEE Invesco PureBeta FTSE Emerging Markets ETF 2.9 15 33 9.2 +2.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.8 65 -17 7.9 +1.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.8 45 3 8.3 +1.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 2.8 30 18 8.3 +1.4
EEM iShares MSCI Emerging Markets ETF 2.8 68 -20 7.9 +1.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.7 32 16 6.5 -0.4
JHEM John Hancock Multifactor Emerging Markets ETF 2.7 49 -1 8.9 +2.0
ECON Columbia Emerging Markets Consumer ETF 2.6 59 -11 4.7 -2.2
IEMG iShares Core MSCI Emerging Markets ETF 2.5 13 35 8.4 +1.5
IXC iShares Global Energy ETF 2.4 46 2 5.9 -1.0
VIDI Vident International Equity Fund 2.4 59 -11 11.7 +4.8
HAP VanEck Vectors Natural Resources ETF 2.4 50 -2 6.4 -0.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 2.2 20 28 7.3 +0.4
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 2.2 50 -2 10.6 +3.7
VRAI Virtus Real Asset Income ETF 2.1 55 -7 11.3 +4.4
IPAY ETFMG Prime Mobile Payments ETF 2.1 75 -27 7.2 +0.3
TPAY Tortoise Digital Payments Infrastructure Fund 2.1 40 8 5.9 -1.0
FINX Global X FinTech Thematic ETF 2.1 68 -20 4.3 -2.6
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.1 70 -22 8.1 +1.2
DEM WisdomTree Emerging Markets High Dividend Fund 2.1 63 -15 14.4 +7.5
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 2.0 64 -16 5.0 -2.0
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 1.9 25 23 8.0 +1.1
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 1.9 51 -3 13.8 +6.9
WWJD Inspire International ESG ETF 1.8 80 -32 7.7 +0.8
XKCP SPDR Kensho Clean Power ETF 1.8 45 3 0.4 -6.6
IXG iShares Global Financials ETF 1.8 46 2 10.2 +3.3
MOTI VanEck Vectors Morningstar International Moat ETF 1.8 57 -9 8.7 +1.8
ISEM Invesco Strategic Emerging Markets ETF 1.8 35 13 11.0 +4.1
BKF iShares MSCI BRIC ETF 1.8 69 -21 8.0 +1.1
LEND Amplify CrowdBureau Peer-to-Peer Lending & Crowdfunding ETF 1.7 65 -17 12.3 +5.4
CWI SPDR MSCI ACWI ex-US ETF 1.7 30 18 7.4 +0.5
PICK iShares MSCI Global Metals & Mining Producers ETF 1.7 39 9 7.7 +0.8
DVYE iShares Emerging Markets Dividend ETF 1.7 49 -1 16.7 +9.8
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 1.6 45 3 14.1 +7.2
ACT AdvisorShares Vice ETF 1.6 99 -51 5.6 -1.3
CVY Invesco Zacks Multi-Asset Income ETF 1.6 97 -49 11.7 +4.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.5 59 -11 11.6 +4.7
ICOL iShares MSCI Colombia ETF 1.5 61 -13 10.0 +3.1
GDVD Principal Active Global Dividend Income ETF 1.4 58 -10 5.1 -1.8
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 1.4 45 3 9.7 +2.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.3 29 19 10.1 +3.2
KXI iShares Global Consumer Staples ETF 1.2 46 2 5.4 -1.5
VYMI Vanguard International High Dividend Yield ETF 1.2 32 16 10.4 +3.5
FXZ First Trust Materials AlphaDEX Fund 1.1 65 -17 7.4 +0.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.1 86 -38 2.3 -4.6
VEU Vanguard FTSE All-World ex-US Index Fund 1.1 8 40 7.8 +0.9
CZA Invesco Zacks Mid-Cap ETF 1.1 76 -28 6.4 -0.5
DGT SPDR Global Dow ETF 1.1 50 -2 6.9 -0.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 1.0 47 1 12.5 +5.6

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 Latin America 40 ETF
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 9.6 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.45
 
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.