iShares Edge MSCI Intl Momentum Factor ETF
ALTAR
Score™
5.0% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
19.6x P/Sales
ratio
2.0x
P/BV
ratio
2.8x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI International Developed Momentum Factor ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the investment results of an index that measures the performance of international developed large and mid capitalization stocks exhibiting relatively higher momentum characteristics.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Jan 15, 2015
Assets (mns) $226
Currency USD
Expense ratio 30 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian State Street Bank & Trust Co
Weighting Momentum
Index replication Not Applicable
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 287
Wgt avg mkt cap (mns) $83,630
Large cap (>$10bn) 90.6%
Mid cap ($2-10bn) 9.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NESTLE SA-REG 4.9 %
ROCHE HOLDING AG-GENUSSCHEIN 3.6 %
ASML HOLDING NV 2.7 %
ASTRAZENECA PLC 2.3 %
CSL LIMITED 2.1 %
LVMH MOET HENNESSY LOUIS VUI 2.0 %
NOVARTIS AG-REG 1.9 %
ENEL SPA 1.9 %
IBERDROLA SA 1.8 %
NOVO NORDISK A/S-B 1.6 %
Total 24.7 %

TOP COUNTRY EXPOSURE
JAPAN 15.1 %
SWITZERLAND 14.9 %
FRANCE 13.0 %
BRITAIN 9.4 %
CANADA 8.8 %
AUSTRALIA 7.6 %
GERMANY 6.9 %
NETHERLANDS 5.9 %
DENMARK 3.3 %
ITALY 3.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
1.0% 17.7% -- -- 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.75 68%
MSCI EAFE 0.91 84%
MSCI Emg. Mkts. 0.60 64%

Technical Indicators
Recent close $29.75
30d moving avg. $31.97
Annualized volatility 11.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 66
Turnover 0.9%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $17,286

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Edge MSCI Intl Momentum Factor ETF ETF based on the alternatives' overlap in portfolio holdings with IMTM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IMTM Expense: 30 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IMTM
Ticker Fund
Name
Overlap1
vs IMTM
(%)
Expense
ratio
(bp)
Savings
vs IMTM
(bp)
ALTAR
Score™
(%)
ALTAR
vs IMTM
(%)
EFG iShares MSCI EAFE Growth ETF 57.4 40 -10 5.1 +0.1
IDMO Invesco S&P International Developed Momentum ETF 55.7 25 5 4.9 -0.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 46.6 30 0 6.5 +1.5
IEV iShares Europe ETF 45.5 59 -29 7.1 +2.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 45.3 45 -15 7.0 +1.9
IQSI IQ Candriam ESG International Equity ETF 45.3 15 15 7.6 +2.6
QEFA SPDR MSCI EAFE Quality Mix ETF 44.9 30 0 7.0 +1.9
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 44.8 20 10 7.5 +2.4
FLEE Franklin FTSE Europe ETF 43.9 9 21 7.3 +2.3
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 43.7 30 0 7.1 +2.1
BBEU JPMorgan BetaBuilders Europe ETF 43.0 9 21 7.6 +2.6
FLEH Franklin FTSE Europe Hedged ETF 43.0 9 21 7.3 +2.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 42.6 14 16 7.3 +2.3
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 42.4 25 5 7.0 +2.0
EFA iShares MSCI EAFE ETF 42.1 32 -2 7.5 +2.5
ESGD iShares MSCI EAFE ESG Optimized ETF 41.5 20 10 7.6 +2.6
IEUR iShares Core MSCI Europe ETF 41.2 9 21 7.6 +2.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 41.1 25 5 7.2 +2.1
IDHQ Invesco S&P International Developed High Quality ETF 40.8 29 1 5.7 +0.7
PDEV Principal International Multi-Factor Core Index ETF 40.0 25 5 6.8 +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

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 Edge MSCI Intl Momentum Factor 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 14.7 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 CATEGORY
AVERAGE
1.64
 
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.