iShares Core MSCI Pacific
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
15.5x P/Sales
ratio
1.0x
P/BV
ratio
1.3x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Core MSCI Pacific ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the investment results of an index composed of Pacific region developed market large, mid and small capitalization equities.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Jun 12, 2014
Assets (mns) $1,099
Currency USD
Expense ratio 9 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 799
Wgt avg mkt cap (mns) $32,528
Large cap (>$10bn) 65.6%
Mid cap ($2-10bn) 26.2%
Small cap (<$2bn) 8.1%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
TOYOTA MOTOR CORP 2.6 %
AIA GROUP LTD 1.9 %
COMMONWEALTH BANK OF AUSTRAL 1.4 %
CSL LIMITED 1.3 %
SONY CORP 1.3 %
BHP BILLITON LTD 1.2 %
SOFTBANK GROUP CORP. 1.0 %
MITSUBISHI UFJ FINANCIAL GRO 1.0 %
TAKEDA PHARMACEUTICAL CO LTD 1.0 %
KEYENCE CORP 1.0 %
Total 13.5 %

TOP COUNTRY EXPOSURE
JAPAN 66.4 %
AUSTRALIA 17.9 %
HONG KONG 7.8 %
SINGAPORE 3.2 %
NEW ZEALAND 0.9 %
MACAU 0.3 %
BERMUDA 0.2 %
CHINA 0.2 %
IRELAND 0.2 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
17.6% 10.1% 6.5% -- 5.5%

Market Correlations
versus... Beta R-squared
S&P500 0.77 75%
MSCI EAFE 0.88 81%
MSCI Emg. Mkts. 0.69 81%

Technical Indicators
Recent close $58.77
30d moving avg. $58.63
Annualized volatility 10.7%
Short interest (ETF) 0.2%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 51
Turnover 0.3%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $22,125

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IPAC Expense: 9 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IPAC
Ticker Fund
Name
Overlap1
vs IPAC
(%)
Expense
ratio
(bp)
Savings
vs IPAC
(bp)
ALTAR
Score™
(%)
ALTAR
vs IPAC
(%)
VPL Vanguard Pacific ETF 75.0 9 0 7.7 +0.3
HFXJ IQ 50 Percent Hedged FTSE Japan 60.3 30 -21 7.7 +0.3
FLJH Franklin FTSE Japan Hedged 60.3 9 0 8.0 +0.6
FLJP Franklin FTSE Japan 60.2 9 0 7.9 +0.5
BBJP JPMorgan BetaBuilders Japan 59.3 19 -10 7.8 +0.4
EWJ iShares MSCI Japan 58.0 47 -38 7.6 +0.2
DBJP Xtrackers MSCI Japan Hedged 57.9 45 -36 7.6 +0.2
QJPN SPDR MSCI Japan Quality Mix 57.8 14 -5 7.9 +0.5
GSJY Goldman Sachs ActiveBeta Japan Equity 54.8 25 -16 7.6 +0.2
JPN Xtrackers Japan JPX-Nikkei 400 Equity 54.8 9 0 7.9 +0.5
JPXN iShares JPX-Nikkei 400 54.7 48 -39 7.5 +0.1
RFAP First Trust Riverfront Dynamic Asia Pacific 47.7 83 -74 7.2 -0.2
EWJE iShares MSCI Japan Equal Weighted 42.5 15 -6 7.2 -0.2
DXJ WisdomTree Japan Hedged Equity 39.2 48 -39 8.6 +1.2
EFAX SPDR MSCI EAFE Fossil Fuel Free 36.9 20 -11 7.0 -0.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity 36.5 14 -5 6.6 -0.8
EFV iShares MSCI EAFE Value 35.9 38 -29 9.0 +1.6
EFA iShares MSCI EAFE 35.3 31 -22 6.9 -0.5
HFXI IQ 50 Percent Hedged FTSE Int'l 35.1 20 -11 7.3 -0.1
EFG iShares MSCI EAFE Growth 34.5 40 -31 5.0 -2.4

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
iShares Core MSCI Pacific
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 9.6 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.63
 
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.