iShares India 50 ETF
ALTAR
Score™		 3.8% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 20.0x P/Sales
ratio		 2.8x
P/BV
ratio		 3.3x Div.
yield		 1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares S&P India Nifty 50 Index Fund investment results that correspond to the price and yield performance of the S&P CNX Nifty Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Nov 18, 2009
Assets (mns) $850
Currency USD
Expense ratio 89 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 50
Wgt avg mkt cap (mns) $78,095
Large cap (>$10bn) 99.7%
Mid cap ($2-10bn) 0.3%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
HDFC BANK LIMITED 11.7 %
RELIANCE INDUSTRIES LTD 10.0 %
ICICI BANK LTD 7.7 %
INFOSYS TECHNOLOGIES LTD 5.3 %
LARSEN & TOUBRO LIMITED 4.5 %
TATA CONSULTANCY SVS LTD 4.1 %
ITC LTD 3.8 %
BHARTI AIRTEL LIMITED 3.1 %
AXIS BANK LIMITED 3.0 %
STATE BANK OF INDIA 3.0 %
Total 56.2 %

TOP COUNTRY EXPOSURE
INDIA 96.8 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
1.6% 22.2% 8.2% 8.4% 6.2%

Market Correlations
versus... Beta R-squared
S&P500 0.50 41%
MSCI EAFE 0.54 44%
MSCI Emg. Mkts. 0.43 31%

Technical Indicators
Recent close $49.44
30d moving avg. $46.30
Annualized volatility 13.9%
Short interest (ETF) 0.7%
Relative strength (RSI) 88

Liquidity measures
Avg. volume (thou.) 78
Turnover 0.5%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $692

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 123 potential alternatives to the iShares India 50 ETF ETF based on the alternatives' overlap in portfolio holdings with INDY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: INDY Expense: 89 bp ALTAR Score™: 3.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH INDY
Ticker Fund
Name		 Overlap1
vs INDY
(%)		 Expense
ratio
(bp)		 Savings
vs INDY
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs INDY
(%)
INDA iShares MSCI India ETF 68.1 65 24 3.7 -0.1
PIN Invesco India ETF 63.6 78 11 3.9 +0.1
FLIN Franklin FTSE India ETF 61.1 19 70 5.3 +1.5
NFTY First Trust India NIFTY 50 Equal Weight ETF 59.7 80 9 6.3 +2.5
EPI WisdomTree India Earnings Fund 55.6 85 4 6.8 +3.0
NDIA Global X India Active ETF 34.4 75 14 6.6 +2.8
INDF Nifty India Financials ETF 32.1 75 14 6.1 +2.3
RNEM First Trust Emerging Markets Equity Select ETF 25.3 75 14 8.4 +4.6
EEMO Invesco S&P Emerging Markets Momentum ETF 23.0 29 60 6.3 +2.5
STXE Strive Emerging Markets Ex-China ETF 22.1 32 57 7.0 +3.1
GLIN VanEck India Growth Leaders ETF 18.6 77 12 5.4 +1.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 18.4 32 57 7.7 +3.9
XC WisdomTree Emerging Markets Ex-China Fund 18.3 32 57 6.2 +2.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 16.6 24 65 7.2 +3.4
BKF iShares MSCI BIC ETF 16.5 69 20 7.4 +3.5
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 16.2 40 49 7.2 +3.4
EMMF WisdomTree Emerging Markets Multifactor Fund 16.1 48 41 9.4 +5.6
INCO Columbia India Consumer ETF 15.9 75 14 1.7 -2.1
JHEM John Hancock Multifactor Emerging Markets ETF 15.9 49 40 8.5 +4.7
EMXC iShares MSCI Emerging Markets ex China ETF 15.6 25 64 6.7 +2.9
EEMA iShares MSCI Emerging Markets Asia ETF 15.5 49 40 6.8 +3.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 14.1 70 19 6.5 +2.6
FLAX Franklin FTSE Asia Ex Japan ETF 13.9 19 70 7.3 +3.5
EMDM First Trust Bloomberg Emerging Market Democracies ETF 13.6 75 14 9.8 +6.0
EMXF iShares ESG Advanced MSCI EM ETF 13.6 16 73 7.6 +3.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 13.5 95 -6 11.6 +7.8
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 13.3 25 64 7.1 +3.3
LDEM iShares ESG MSCI EM Leaders ETF 13.2 17 72 7.9 +4.1
BKEM BNY Mellon Emerging Markets Equity ETF 12.8 11 78 7.8 +4.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 12.7 36 53 7.6 +3.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 12.0 33 56 7.3 +3.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 12.0 66 23 7.4 +3.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 12.0 86 3 2.1 -1.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 11.9 20 69 7.7 +3.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 11.9 30 59 8.7 +4.8
GMF SPDR S&P Emerging Asia Pacific ETF 11.8 49 40 6.5 +2.7
SCHE Schwab Emerging Markets Equity ETF 11.8 11 78 7.7 +3.9
MINV Matthews Asia Innovators Active ETF 11.7 79 10 2.9 -0.9
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 11.6 15 74 7.2 +3.4
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 11.4 18 71 8.0 +4.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 11.4 30 59 7.6 +3.8
VWO Vanguard FTSE Emerging Markets ETF 11.3 8 81 7.7 +3.9
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 11.2 86 3 2.0 -1.8
INQQ India Internet & Ecommerce ETF 11.2 86 3 11.0 +7.2
ROAM Hartford Multifactor Emerging Markets ETF 11.1 44 45 11.8 +8.0
NUEM Nuveen ESG Emerging Markets Equity ETF 11.0 36 53 6.9 +3.1
EMGF iShares Emerging Markets Equity Factor ETF 10.8 25 64 8.8 +5.0
ESGE iShares ESG Aware MSCI EM ETF 10.8 25 64 7.8 +4.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 10.7 45 44 8.7 +4.9
DEHP Dimensional Emerging Markets High Profitability ETF 10.3 41 48 7.4 +3.6
CGXU Capital Group International Focus Equity ETF 10.3 54 35 4.2 +0.4
DGIN VanEck Digital India ETF 10.1 71 18 1.6 -2.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 10.1 32 57 6.4 +2.6
ECON Columbia Emerging Markets Consumer ETF 10.0 49 40 4.9 +1.1
EEM iShares MSCI Emerging Markets ETF 9.8 69 20 7.1 +3.3
IEMG iShares Core MSCI Emerging Markets ETF 9.2 9 80 7.7 +3.9
PXH Invesco FTSE RAFI Emerging Markets ETF 9.1 49 40 12.7 +8.9
DFEV Dimensional Emerging Markets Value ETF 9.1 43 46 11.1 +7.3
FDEM Fidelity Emerging Markets Multifactor ETF 9.0 25 64 12.1 +8.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.0 39 50 12.8 +9.0
DFAE Dimensional Emerging Core Equity Market ETF 8.8 35 54 7.8 +4.0
SPEM SPDR Portfolio Emerging Markets ETF 8.8 7 82 7.6 +3.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 8.5 44 45 10.4 +6.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 8.3 50 39 10.7 +6.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 7.2 59 30 9.7 +5.9
DFEM Dimensional Emerging Markets Core Equity 2 ETF 7.0 38 51 8.4 +4.6
AVES Avantis Emerging Markets Value ETF 6.5 36 53 12.3 +8.5
EMM Global X Emerging Markets ex-China ETF 6.2 75 14 3.7 -0.1
AVEM Avantis Emerging Markets Equity ETF 6.1 33 56 9.3 +5.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 6.1 60 29 10.0 +6.2
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 6.0 88 1 6.3 +2.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 6.0 41 48 7.9 +4.1
VIGI Vanguard International Dividend Appreciation ETF 5.4 15 74 5.6 +1.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 4.4 45 44 12.9 +9.1
EMC Global X Emerging Markets Great Consumer ETF 4.3 75 14 5.0 +1.2
MEM Matthews Emerging Markets Equity Active ETF 4.2 79 10 5.9 +2.1
XCEM Columbia EM Core ex-China ETF 4.1 16 73 7.4 +3.6
NXTG First Trust Indxx NextG ETF 4.1 70 19 6.1 +2.3
ACWV iShares MSCI Global Min Vol Factor ETF 3.9 20 69 6.8 +3.0
FILL iShares MSCI Global Energy Producers ETF 3.6 39 50 9.3 +5.4
EDIV SPDR S&P Emerging Markets Dividend ETF 3.6 49 40 11.1 +7.2
FEM First Trust Emerging Markets AlphaDEX Fund 3.4 80 9 16.5 +12.7
DEM WisdomTree Emerging Markets High Dividend Fund 3.4 63 26 13.0 +9.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.3 41 48 6.8 +2.9
ACWX iShares MSCI ACWI ex U.S. ETF 3.2 34 55 6.8 +3.0
SCHY Schwab International Dividend Equity ETF 3.2 14 75 9.4 +5.6
IGRO iShares International Dividend Growth ETF 3.0 15 74 7.2 +3.4
VXUS Vanguard Total International Stock ETF 2.9 7 82 7.2 +3.4
VEU Vanguard FTSE All-World ex-US Index Fund 2.9 8 81 7.3 +3.5
IXUS iShares Core MSCI Total International Stock ETF 2.9 7 82 7.0 +3.2
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.8 65 24 8.6 +4.7
VSGX Vanguard ESG International Stock ETF 2.4 12 77 6.9 +3.1
CWI SPDR MSCI ACWI ex-US ETF 2.4 30 59 6.9 +3.1
EYLD Cambria Emerging Shareholder Yield ETF 2.1 66 23 12.2 +8.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.0 30 59 7.9 +4.1
FTAG First Trust Indxx Global Agriculture ETF 1.9 70 19 9.1 +5.3
IQDE FlexShares International Quality Dividend Defensive Index ET 1.8 47 42 10.9 +7.1
CGGO Capital Group Global Growth Equity ETF 1.6 47 42 4.3 +0.5
IQDF FlexShares International Quality Dividend Index Fund 1.3 47 42 10.9 +7.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 1.3 20 69 10.9 +7.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.3 42 47 6.9 +3.0
DGT SPDR Global Dow ETF 1.3 50 39 6.8 +3.0
ACWI iShares MSCI ACWI ETF 1.2 32 57 5.5 +1.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.2 47 42 6.0 +2.2
IWTR iShares MSCI Water Management Multisector ETF 1.2 47 42 4.9 +1.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.1 47 42 10.4 +6.6
VYMI Vanguard International High Dividend Yield ETF 1.0 22 67 9.9 +6.1
FTRI First Trust Indxx Global Natural Resources Income ETF 1.0 70 19 10.7 +6.9
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.0 67 22 17.2 +13.4
VT Vanguard Total World Stock ETF 1.0 7 82 5.9 +2.1
XT iShares Exponential Technologies ETF 1.0 46 43 3.9 +0.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.9 20 69 5.7 +1.8
DVYE iShares Emerging Markets Dividend ETF 0.9 49 40 16.8 +13.0
ADIV SmartETFs Asia Pacific Dividend Builder ETF 0.8 78 11 9.1 +5.3
VEGI iShares MSCI Agriculture Producers ETF 0.7 39 50 9.2 +5.4
DEW WisdomTree Global High Dividend Fund 0.7 58 31 9.3 +5.5
PICK iShares MSCI Global Metals & Mining Producers ETF 0.7 39 50 10.9 +7.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.5 12 77 5.1 +1.3
GLOF iShares Global Equity Factor ETF 0.5 20 69 7.1 +3.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 43 9.0 +5.1
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 40 5.9 +2.0
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.2 45 44 6.4 +2.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 80 5.8 +2.0

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 India 50 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 15.1 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 89 bp
Equals: ALTAR Score 3.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.35 CATEGORY
AVERAGE		 1.39
 
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.