iShares MSCI India ETF
ALTAR
Score™		 4.0% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 26.0x P/Sales
ratio		 2.8x
P/BV
ratio		 4.3x Div.
yield		 1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI India Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI India Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Funds/USA
Website www.ishares.com
Inception date Feb 02, 2012
Assets (mns) $11,156
Currency USD
Expense ratio 65 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 151
Wgt avg mkt cap (mns) $62,877
Large cap (>$10bn) 89.7%
Mid cap ($2-10bn) 9.7%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
RELIANCE INDUSTRIES LTD 6.8 %
HDFC BANK LIMITED 5.5 %
ICICI BANK LTD 5.2 %
INFOSYS TECHNOLOGIES LTD 4.7 %
BHARTI AIRTEL LIMITED 3.3 %
TATA CONSULTANCY SVS LTD 2.9 %
AXIS BANK LIMITED 2.1 %
MAHINDRA & MAHINDRA LTD. 2.1 %
LARSEN & TOUBRO LIMITED 1.9 %
HINDUSTAN UNILEVER LIMITED 1.8 %
Total 36.4 %

TOP COUNTRY EXPOSURE
INDIA 94.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
18.9% 31.3% 13.1% 8.0% 7.7%

Market Correlations
versus... Beta R-squared
S&P500 0.54 55%
MSCI EAFE 0.45 38%
MSCI Emg. Mkts. 0.42 32%

Technical Indicators
Recent close $57.05
30d moving avg. $57.93
Annualized volatility 13.0%
Short interest (ETF) 10.3%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 4,855
Turnover 2.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $1,881

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 141 potential alternatives to the iShares MSCI India ETF ETF based on the alternatives' overlap in portfolio holdings with INDA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: INDA Expense: 65 bp ALTAR Score™: 4.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH INDA
Ticker Fund
Name		 Overlap1
vs INDA
(%)		 Expense
ratio
(bp)		 Savings
vs INDA
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs INDA
(%)
PIN Invesco India ETF 79.8 78 -13 4.4 +0.5
FLIN Franklin FTSE India ETF 76.1 19 46 4.8 +0.8
INDY iShares India 50 ETF 66.3 89 -24 4.6 +0.6
EPI WisdomTree India Earnings Fund 55.1 85 -20 6.1 +2.1
NFTY First Trust India NIFTY 50 Equal Weight ETF 49.3 80 -15 5.9 +1.9
EEMO Invesco S&P Emerging Markets Momentum ETF 38.3 29 36 5.4 +1.4
BKF iShares MSCI BIC ETF 36.9 69 -4 6.4 +2.4
STXE Strive Emerging Markets Ex-China ETF 30.2 32 33 6.9 +2.9
NDIA Global X India Active ETF 27.8 75 -10 6.9 +2.9
EMXC iShares MSCI Emerging Markets ex China ETF 25.7 25 40 6.6 +2.6
RNEM First Trust Emerging Markets Equity Select ETF 25.2 75 -10 5.9 +1.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 24.9 32 33 6.8 +2.8
EEMA iShares MSCI Emerging Markets Asia ETF 24.5 49 16 6.3 +2.3
XC WisdomTree Emerging Markets Ex-China Fund 23.4 32 33 5.9 +1.9
EQLT iShares MSCI Emerging Markets Quality Factor ETF 22.7 35 30 7.3 +3.3
EMMF WisdomTree Emerging Markets Multifactor Fund 22.6 48 17 8.6 +4.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 22.4 70 -5 5.9 +1.9
INDF Nifty India Financials ETF 21.7 75 -10 5.0 +1.1
JHEM John Hancock Multifactor Emerging Markets ETF 21.5 49 16 7.9 +3.9
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 21.0 25 40 6.3 +2.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 20.7 30 35 7.9 +4.0
EMXF iShares ESG Advanced MSCI EM ETF 20.5 16 49 6.7 +2.7
ECON Columbia Emerging Markets Consumer ETF 19.9 49 16 7.2 +3.2
LDEM iShares ESG MSCI EM Leaders ETF 19.8 17 48 7.0 +3.0
FLAX Franklin FTSE Asia Ex Japan ETF 19.5 19 46 6.7 +2.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 19.4 24 41 9.0 +5.0
GMF SPDR S&P Emerging Asia Pacific ETF 19.2 49 16 5.9 +1.9
EEM iShares MSCI Emerging Markets ETF 18.9 69 -4 6.6 +2.6
VWO Vanguard FTSE Emerging Markets ETF 18.6 8 57 6.8 +2.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 18.5 15 50 7.1 +3.1
ESGE iShares ESG Aware MSCI EM ETF 18.4 25 40 7.0 +3.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 18.0 40 25 8.1 +4.1
EMGF iShares Emerging Markets Equity Factor ETF 18.0 25 40 8.4 +4.4
DEHP Dimensional Emerging Markets High Profitability ETF 17.9 41 24 4.8 +0.8
SCHE Schwab Emerging Markets Equity ETF 17.9 11 54 6.9 +2.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 17.8 32 33 6.0 +2.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 17.7 30 35 7.3 +3.3
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 17.4 18 47 6.8 +2.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 17.4 36 29 7.6 +3.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 17.2 45 20 10.7 +6.7
BKEM BNY Mellon Emerging Markets Equity ETF 17.2 11 54 8.3 +4.3
EVLU iShares MSCI Emerging Markets Value Factor ETF 16.9 35 30 12.0 +8.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 16.8 95 -30 10.2 +6.2
NUEM Nuveen ESG Emerging Markets Equity ETF 16.7 36 29 6.2 +2.3
IEMG iShares Core MSCI Emerging Markets ETF 16.5 9 56 7.2 +3.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 16.5 66 -1 9.7 +5.7
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 16.4 15 50 10.0 +6.0
GLIN VanEck India Growth Leaders ETF 16.3 77 -12 5.3 +1.3
EMDM First Trust Bloomberg Emerging Market Democracies ETF 16.2 75 -10 7.7 +3.7
DFAE Dimensional Emerging Core Equity Market ETF 14.5 35 30 7.1 +3.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 14.3 33 32 8.0 +4.0
SPEM SPDR Portfolio Emerging Markets ETF 14.2 7 58 7.1 +3.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 13.6 50 15 13.0 +9.0
ROAM Hartford Multifactor Emerging Markets ETF 13.4 44 21 15.2 +11.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 13.3 20 45 6.6 +2.6
AVES Avantis Emerging Markets Value ETF 13.0 36 29 11.3 +7.3
PXH Invesco FTSE RAFI Emerging Markets ETF 13.0 49 16 11.8 +7.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 12.9 88 -23 7.2 +3.2
DFEV Dimensional Emerging Markets Value ETF 12.8 43 22 10.9 +6.9
DGIN VanEck Digital India ETF 12.2 71 -6 0.2 -3.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 12.1 45 20 12.1 +8.2
FDEM Fidelity Emerging Markets Multifactor ETF 11.9 25 40 11.9 +7.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 11.9 39 26 12.1 +8.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 11.7 38 27 7.7 +3.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.7 44 21 10.7 +6.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 11.6 41 24 7.1 +3.2
MINV Matthews Asia Innovators Active ETF 11.6 79 -14 3.0 -0.9
EMM Global X Emerging Markets ex-China ETF 11.5 75 -10 4.0 0.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 11.4 59 6 11.0 +7.0
AVEM Avantis Emerging Markets Equity ETF 11.3 33 32 8.7 +4.7
MEM Matthews Emerging Markets Equity Active ETF 10.2 79 -14 5.3 +1.3
XCEM Columbia EM Core ex-China ETF 9.7 16 49 7.6 +3.7
EMC Global X Emerging Markets Great Consumer ETF 8.3 75 -10 4.5 +0.5
INCO Columbia India Consumer ETF 7.1 75 -10 1.5 -2.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 6.5 60 5 9.6 +5.6
BIGFX Baron International Growth Retail 6.4 75 -10 3.2 -0.8
FEM First Trust Emerging Markets AlphaDEX Fund 6.3 80 -15 15.1 +11.1
VIGI Vanguard International Dividend Appreciation ETF 6.2 15 50 6.4 +2.5
ACWV iShares MSCI Global Min Vol Factor ETF 5.8 20 45 6.7 +2.7
IPAV Global X Infrastructure Development ex-U.S. ETF 5.8 55 10 9.5 +5.5
CGXU Capital Group International Focus Equity ETF 5.6 54 11 4.8 +0.8
ACWX iShares MSCI ACWI ex U.S. ETF 5.6 34 31 7.1 +3.1
VEU Vanguard FTSE All-World ex-US Index Fund 5.3 8 57 7.2 +3.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 5.3 18 47 7.0 +3.0
IXUS iShares Core MSCI Total International Stock ETF 5.0 7 58 7.3 +3.3
VXUS Vanguard Total International Stock ETF 4.9 7 58 7.1 +3.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 4.8 41 24 7.2 +3.2
FILL iShares MSCI Global Energy Producers ETF 4.7 39 26 10.4 +6.4
IGRO iShares International Dividend Growth ETF 4.5 15 50 7.9 +3.9
CWI SPDR MSCI ACWI ex-US ETF 4.4 30 35 7.0 +3.0
VSGX Vanguard ESG International Stock ETF 4.3 12 53 6.7 +2.7
DEM WisdomTree Emerging Markets High Dividend Fund 4.1 63 2 18.4 +14.4
SCHY Schwab International Dividend Equity ETF 3.9 14 51 9.1 +5.1
NXTG First Trust Indxx NextG ETF 3.8 70 -5 6.8 +2.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 3.8 30 35 7.9 +3.9
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 3.7 86 -21 1.7 -2.3
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 3.7 86 -21 1.5 -2.5
INQQ India Internet & Ecommerce ETF 3.7 86 -21 2.8 -1.2
IQDE FlexShares International Quality Dividend Defensive Index ET 3.5 47 18 14.4 +10.5
PICK iShares MSCI Global Metals & Mining Producers ETF 3.3 39 26 12.4 +8.4
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.8 65 0 8.8 +4.8
IQDF FlexShares International Quality Dividend Index Fund 2.6 47 18 12.4 +8.4
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.5 42 23 7.8 +3.8
FTAG First Trust Indxx Global Agriculture ETF 2.5 70 -5 9.3 +5.3
EYLD Cambria Emerging Shareholder Yield ETF 2.2 66 -1 12.9 +8.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.1 47 18 9.1 +5.1
ACWI iShares MSCI ACWI ETF 2.0 32 33 5.4 +1.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.9 20 45 5.3 +1.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.9 12 53 4.8 +0.8
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 1.8 45 20 5.7 +1.7
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 1.8 60 5 0.4 -3.6
VT Vanguard Total World Stock ETF 1.7 7 58 5.6 +1.6
KLMT Invesco MSCI Global Climate 500 ETF 1.5 10 55 5.4 +1.4
VYMI Vanguard International High Dividend Yield ETF 1.5 22 43 9.8 +5.8
DVYE iShares Emerging Markets Dividend ETF 1.5 49 16 18.9 +14.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.4 75 -10 3.0 -1.0
OND ProShares On-Demand ETF 1.4 58 7 -2.2 -6.2
BGAIX Baron Global Advantage 1.4 75 -10 0.6 -3.3
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.3 12 53 7.7 +3.7
XT iShares Exponential Technologies ETF 1.2 46 19 4.8 +0.8
DGT SPDR Global Dow ETF 1.2 50 15 6.9 +3.0
EDIV SPDR S&P Emerging Markets Dividend ETF 1.2 49 16 11.9 +7.9
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 1.2 46 19 9.2 +5.2
GLOF iShares Global Equity Factor ETF 1.1 20 45 7.0 +3.0
CGGO Capital Group Global Growth Equity ETF 1.1 47 18 4.5 +0.6
DEW WisdomTree Global High Dividend Fund 1.0 58 7 8.5 +4.5
VEGI iShares MSCI Agriculture Producers ETF 0.9 39 26 9.3 +5.3
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.8 47 18 5.3 +1.4
ICLN iShares Global Clean Energy ETF 0.8 41 24 5.1 +1.2
FTRI First Trust Indxx Global Natural Resources Income ETF 0.7 70 -5 9.6 +5.6
SDEM Global X MSCI SuperDividend Emerging Markets ETF 0.7 67 -2 14.7 +10.7
ADIV SmartETFs Asia Pacific Dividend Builder ETF 0.7 78 -13 8.8 +4.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 16 5.3 +1.3
CGW Invesco S&P Global Water Index ETF 0.5 57 8 4.3 +0.3
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.5 10 55 7.3 +3.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.4 9 56 5.5 +1.5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 7 10.2 +6.2
IWTR iShares MSCI Water Management Multisector ETF 0.2 47 18 4.9 +0.9
OBOR KraneShares MSCI One Belt One Road Index ETF 0.2 79 -14 10.1 +6.1
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 20 3.5 -0.5
SUPL ProShares Supply Chain Logistics ETF 0.2 58 7 14.2 +10.2

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 iShares MSCI India 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 17.8 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.48
 
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.