iShares U.S. Aerospace & Defense
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
23.7x P/Sales
ratio
1.8x
P/BV
ratio
5.3x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares U.S. Aerospace & Defense Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Select Aerospace & Defense Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date May 05, 2006
Assets (mns) $5,629
Currency USD
Expense ratio 42 bp
Distributions Quarterly

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 35
Wgt avg mkt cap (mns) $79,774
Large cap (>$10bn) 83.8%
Mid cap ($2-10bn) 13.7%
Small cap (<$2bn) 2.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BOEING CO 21.0 %
UNITED TECHNOLOGIES CORP 16.7 %
LOCKHEED MARTIN CORP 6.7 %
RAYTHEON COMPANY 4.9 %
TRANSDIGM GROUP INC 4.8 %
NORTHROP GRUMMAN CORP 4.3 %
GENERAL DYNAMICS CORP 4.3 %
HARRIS CORP 4.2 %
TELEDYNE TECHNOLOGIES INC 3.5 %
ARCONIC INC. 3.3 %
Total 73.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.7 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
28.4% 15.9% 15.8% 18.6% 13.3%

Market Correlations
versus... Beta R-squared
S&P500 1.14 64%
MSCI EAFE 0.94 37%
MSCI Emg. Mkts. 0.63 27%

Technical Indicators
Recent close $230.71
30d moving avg. $224.27
Annualized volatility 17.2%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.8%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 141
Turnover 0.6%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $3,966

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares U.S. Aerospace & Defense ETF based on the alternatives' overlap in portfolio holdings with ITA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ITA Expense: 42 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ITA
Ticker Fund
Name
Overlap1
vs ITA
(%)
Expense
ratio
(bp)
Savings
vs ITA
(bp)
ALTAR
Score™
(%)
ALTAR
vs ITA
(%)
XAR SPDR S&P Aerospace & Defense 61.2 35 7 5.0 -0.4
PPA Invesco Aero & Defense 60.4 59 -17 5.1 -0.3
XKFF SPDR Kensho Final Frontiers 47.1 45 -3 4.9 -0.5
XLI Industrials Select Sector SPDR 27.5 13 29 6.2 +0.8
FITE SPDR Kensho Future Security 26.9 45 -3 4.1 -1.3
FIDU Fidelity Industrials 24.6 8 34 6.0 +0.6
VIS Vanguard Industrials 24.1 10 32 6.3 +0.9
IFLY ETFMG Drone Economy Strategy 21.5 75 -33 0.5 -4.9
IYJ iShares DJ US Industrials 19.7 42 0 5.4 +0.0
RGI Invesco S&P Equal Weight Industrials 15.8 40 2 6.7 +1.3
JHMI John Hancock Multifactor Industrials 15.8 40 2 6.7 +1.3
EXI iShares Global Industrials 14.6 46 -4 6.1 +0.7
FXR First Trust Industrials/Producer Durables 14.4 62 -20 7.0 +1.6
PRN Invesco DWA Industrials Momentum 13.9 60 -18 4.2 -1.2
KOMP SPDR Kensho New Economies Composite 13.1 20 22 3.8 -1.6
DIA SPDR Dow Jones Industrial Average 12.6 17 25 6.1 +0.7
UFO Procure Space 12.2 75 -33 2.2 -3.2
PDP Invesco DWA Technical Leaders 8.6 62 -20 3.9 -1.6
INAU Innovation United States 8.5 81 -39 5.5 +0.1
TTFS AdvisorShares Whilshire Buyback 8.1 91 -49 6.5 +1.0

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%.

Content on this tab for subscribers only**

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 U.S. Aerospace & Defense
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 25.7 %
Divided by: Fwd. P/BV 4.4 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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