iShares FactorSelect MSCI Intl Small-Cap
ALTAR
Score™
6.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
14.7x P/Sales
ratio
0.9x
P/BV
ratio
1.3x Div.
yield
3.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares FactorSelect MSCI Intl Small-Cap ETF tracks an index of international small-cap firms. Stocks are selected and weighted to increase exposure to 4 factors (quality, value, momentum and small size) while maintaining similar characteristics of the MSCI World ex USA Small Cap Index.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Apr 28, 2015
Assets (mns) $90
Currency USD
Expense ratio 40 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 679
Wgt avg mkt cap (mns) $1,812
Large cap (>$10bn) 0.3%
Mid cap ($2-10bn) 40.7%
Small cap (<$2bn) 59.0%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
LOGITECH INTERNATIONAL-REG 1.3 %
GN STORE NORD A/S 1.1 %
ASM INTERNATIONAL N.V. 1.0 %
ASR NEDERLAND NV 0.9 %
HOWDEN JOINERY GROUP PLC 0.9 %
TATE & LYLE PLC 0.8 %
EURONEXT NV 0.8 %
NORTHERN STAR RESOURCES LTD 0.7 %
DIALOG SEMICONDUCTOR PLC 0.7 %
CHARTER HALL GROUP 0.7 %
Total 9.0 %

TOP COUNTRY EXPOSURE
JAPAN 19.7 %
BRITAIN 16.9 %
AUSTRALIA 9.9 %
CANADA 9.2 %
SWITZERLAND 4.4 %
NETHERLANDS 2.9 %
ITALY 2.7 %
BELGIUM 2.6 %
HONG KONG 2.1 %
GERMANY 2.0 %

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.
19.7% 11.5% -- -- 6.9%

Market Correlations
versus... Beta R-squared
S&P500 0.85 70%
MSCI EAFE 1.03 86%
MSCI Emg. Mkts. 0.76 75%

Technical Indicators
Recent close $30.87
30d moving avg. $30.12
Annualized volatility 12.3%
Short interest (ETF) 3.8%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.4%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $1,919

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: ISCF Expense: 40 bp ALTAR Score™: 6.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ISCF
Ticker Fund
Name
Overlap1
vs ISCF
(%)
Expense
ratio
(bp)
Savings
vs ISCF
(bp)
ALTAR
Score™
(%)
ALTAR
vs ISCF
(%)
AVDV Avantis International Small Cap Value 18.4 36 4 7.0 +0.2
GWX SPDR International SmallCap 17.5 40 0 4.6 -2.2
ISDS Invesco Strategic Developed ex-US Small Company 17.4 35 5 5.1 -1.8
SCHC Schwab Intl Small-Cap Equity 17.0 12 28 6.4 -0.5
EWUS iShares MSCI United Kingdom Small Cap 16.9 59 -19 7.3 +0.5
IEUS iShares MSCI Europe Small Cap 16.2 40 0 6.0 -0.9
DDLS WisdomTree Dynamic Currency Hedged Int'l SmallCap 16.1 43 -3 8.3 +1.4
FNDC Schwab Fundamental Intl Small Cap 15.9 39 1 4.5 -2.4
SCZ iShares MSCI EAFE Small Cap 15.9 39 1 6.0 -0.9
DLS WisdomTree Int'l SmallCap Dividend 15.8 58 -18 8.1 +1.2
PDN Invesco FTSE RAFI Developed Mkts ex-US Small-Mid Cap 14.5 49 -9 6.4 -0.4
FDTS First Trust Dev Mkts ex-US Small Cap Alpha 13.5 80 -40 9.1 +2.2
DFJ WisdomTree Japan Small Cap Dividend 13.3 58 -18 7.8 +0.9
DXJS WisdomTree Japan Hedged Small 13.2 58 -18 7.9 +1.0
VSS Vanguard FTSE All World ex-US Small Cap 12.7 12 28 6.5 -0.4
DFE WisdomTree Europe Small Cap Dividend 12.4 58 -18 8.7 +1.9
SCJ iShares MSCI Japan Small Cap 12.1 47 -7 6.1 -0.7
TLTD FlexShares Mngstr Developed Mkts ex-US Factor Tilt 10.2 39 1 8.3 +1.4
DDEZ WisdomTree Dynamic Currency Hedged Europe Equity 9.4 43 -3 6.7 -0.2
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 8.8 58 -18 7.4 +0.5

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

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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 FactorSelect MSCI Intl Small-Cap
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 9.3 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.