iShares U.S. Aerospace & Defense ETF
ALTAR
Score™		 6.6% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 28.9x P/Sales
ratio		 1.3x
P/BV
ratio		 3.4x 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 01, 2006
Assets (mns) $3,052
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 32
Wgt avg mkt cap (mns) $45,938
Large cap (>$10bn) 71.6%
Mid cap ($2-10bn) 23.8%
Small cap (<$2bn) 4.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BOEING CO 19.2 %
RAYTHEON TECHNOLOGIES CORPORATION 17.7 %
LOCKHEED MARTIN CORP 7.5 %
TRANSDIGM GROUP INC 4.7 %
GENERAL DYNAMICS CORP 4.7 %
NORTHROP GRUMMAN CORP 4.5 %
TELEDYNE TECHNOLOGIES INC 4.2 %
HARRIS CORP 4.1 %
TEXTRON INC 3.3 %
HUNTINGTON INGALLS INDUSTRIE 3.1 %
Total 73.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.3 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-25.2% -21.7% 8.0% 14.2% 10.5%

Market Correlations
versus... Beta R-squared
S&P500 1.26 72%
MSCI EAFE 1.34 70%
MSCI Emg. Mkts. 0.91 51%

Technical Indicators
Recent close $163.19
30d moving avg. $168.70
Annualized volatility 25.2%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.8%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 299
Turnover 1.6%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $10,551

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares U.S. Aerospace & Defense ETF 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™: 6.6%


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
(%)
PPA Invesco Aerospace & Defense ETF 58.7 59 -17 6.1 -0.5
XAR SPDR S&P Aerospace & Defense ETF 57.4 35 7 5.6 -1.0
XKFF SPDR Kensho Final Frontiers ETF 41.0 45 -3 6.4 -0.2
XLI Industrial Select Sector SPDR Fund 22.1 13 29 5.9 -0.6
FITE SPDR Kensho Future Security ETF 22.0 45 -3 4.1 -2.5
FIDU Fidelity MSCI Industrials Index ETF 19.4 8 34 6.0 -0.5
VIS Vanguard Industrials Index Fund 19.2 10 32 6.0 -0.6
PRN Invesco DWA Industrials Momentum ETF 15.7 60 -18 4.9 -1.7
RGI Invesco S&P 500 Equal Weight Industrials ETF 14.5 40 2 5.8 -0.8
IYJ iShares U.S. Industrials ETF 14.4 42 0 6.0 -0.6
JHMI John Hancock Multifactor Industrials ETF 12.8 40 2 6.1 -0.4
UFO Procure Space ETF 11.5 171 -129 0.7 -5.8
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 11.3 75 -33 6.0 -0.5
EXI iShares Global Industrials ETF 11.2 46 -4 6.2 -0.3
BUL Pacer US Cash Cows Growth ETF 9.6 60 -18 6.3 -0.3
PLCY EventShares U.S. Legislative Opportunities ETF 8.6 75 -33 3.7 -2.8
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 8.1 63 -21 7.1 +0.6
MOAT VanEck Vectors Morningstar Wide Moat ETF 7.7 49 -7 6.4 -0.1
DIA SPDR Dow Jones Industrial Average ETF Trust 6.5 16 26 5.7 -0.9
EDOW First Trust Dow 30 Equal Weight ETF 6.4 50 -8 6.1 -0.5
JETS US Global Jets ETF 6.1 60 -18 4.6 -2.0
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 6.0 50 -8 4.1 -2.4
PDP Invesco DWA Momentum ETF 5.9 62 -20 2.8 -3.8
KOMP SPDR Kensho New Economies Composite ETF 5.0 20 22 2.6 -4.0
RFG Invesco S&P Midcap 400 Pure Growth ETF 5.0 35 7 4.0 -2.5
IQM Franklin Intelligent Machines ETF 4.8 50 -8 2.1 -4.4
DVP Deep Value ETF 4.7 59 -17 12.3 +5.7
CCOR Core Alternative ETF 4.6 123 -81 4.4 -2.2
VETS Pacer Military Times Best Employers ETF 4.6 60 -18 7.0 +0.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 4.6 25 17 6.0 -0.5
MAGA Point Bridge GOP Stock Tracker ETF 4.5 72 -30 6.6 +0.1
VIG Vanguard Dividend Appreciation Index Fund 4.4 6 36 5.5 -1.1
SLT Salt TruBeta High Exposure ETF 4.2 29 13 9.6 +3.0
KLCD KFA Large Cap Quality Dividend Index ETF 4.1 41 1 5.4 -1.1
PSCI Invesco S&P SmallCap Industrials ETF 4.1 29 13 6.7 +0.1
FXZ First Trust Materials AlphaDEX Fund 4.1 65 -23 7.4 +0.9
SPVU Invesco S&P 500 Enhanced Value ETF 4.0 13 29 11.6 +5.0
RPG Invesco S&P 500 Pure Growth ETF 4.0 35 7 4.5 -2.1
DUSA Davis Select U.S. Equity ETF 4.0 63 -21 5.8 -0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 3.8 25 17 6.2 -0.4
DSTL Distillate US Fundamental Stability & Value ETF 3.7 39 3 6.6 +0.1
JKF iShares Morningstar Large Cap Value ETF 3.7 25 17 7.7 +1.1
FLLV Franklin Liberty U.S. Low Volatility ETF 3.6 29 13 5.9 -0.7
DEF Invesco Defensive Equity ETF 3.6 55 -13 5.2 -1.4
XKST SPDR Kensho Smart Mobility ETF 3.6 45 -3 5.5 -1.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 3.5 19 23 6.1 -0.4
PFM Invesco Dividend Achievers ETF 3.4 54 -12 5.5 -1.0
LOUP Innovator Loup Frontier Tech ETF 3.4 70 -28 4.1 -2.5
ACIO Aptus Collared Income Opportunity ETF 3.4 79 -37 4.4 -2.2
FTCS First Trust Capital Strength ETF 3.4 58 -16 5.0 -1.6
DWLD Davis Select Worldwide ETF 3.3 63 -21 6.7 +0.2
QTUM Defiance Quantum ETF 3.3 40 2 5.8 -0.7
DJD Invesco Dow Jones Industrial Average Dividend ETF 3.2 7 35 7.0 +0.4
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 3.2 35 7 6.9 +0.3
FCTR First Trust Lunt U.S. Factor Rotation ETF 3.0 65 -23 3.4 -3.2
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 3.0 60 -18 8.6 +2.1
LEAD Reality Shares DIVCON Leaders Dividend ETF 2.9 43 -1 4.4 -2.1
NOBL ProShares S&P 500 Dividend Aristocrats ETF 2.9 35 7 6.2 -0.3
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 2.9 30 12 5.8 -0.8
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 2.9 75 -33 5.9 -0.7
PAVE Global X U.S. Infrastructure Development ETF 2.9 47 -5 5.9 -0.6
FVL First Trust Value Line 100 Exchange-Traded Fund 2.9 70 -28 5.2 -1.4
BFOR Barron's 400 ETF 2.8 65 -23 6.4 -0.1
JKK iShares Morningstar Small-Cap Growth ETF 2.8 30 12 1.1 -5.4
SPLV Invesco S&P 500 Low Volatility ETF 2.8 25 17 5.8 -0.8
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 2.8 15 27 5.0 -1.6
ALFA AlphaClone Alternative Alpha ETF 2.7 65 -23 3.4 -3.1
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 2.7 20 22 7.7 +1.2
RWL Invesco S&P 500 Revenue ETF 2.7 39 3 7.3 +0.8
PRNT The 3D Printing ETF 2.6 66 -24 1.2 -5.4
SFYF SoFi 50 ETF 2.6 29 13 5.4 -1.1
MFMS Motley Fool Small-Cap Growth ETF 2.6 85 -43 -1.9 -8.4
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 2.6 49 -7 4.9 -1.6
DGRW WisdomTree U.S. Quality Dividend Growth Fund 2.6 28 14 6.6 +0.0
SFYX Sofi Next 500 ETF 2.5 0 42 6.0 -0.5
GOAT VanEck Vectors Morningstar Global Wide Moat ETF 2.5 56 -14 6.0 -0.5
SPVM Invesco S&P 500 Value with Momentum ETF 2.4 39 3 9.3 +2.7
IUS Invesco Strategic US ETF 2.4 19 23 6.7 +0.2
SPXT ProShares S&P 500 Ex-Technology ETF 2.4 27 15 5.7 -0.8
USDY Pacific Global US Equity Income ETF 2.4 29 13 7.3 +0.8
SPHB Invesco S&P 500 High Beta ETF 2.4 25 17 9.6 +3.1
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 2.4 49 -7 9.4 +2.9
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 2.4 17 25 6.6 +0.1
FDMO Fidelity Momentum Factor ETF 2.4 29 13 3.9 -2.7
NLR VanEck Vectors Uranium+Nuclear Energy ETF 2.4 61 -19 9.1 +2.6
FNY First Trust Mid Cap Growth AlphaDEX Fund 2.4 70 -28 2.1 -4.5
JKD iShares Morningstar Large-Cap ETF 2.3 20 22 5.7 -0.8
QVAL Alpha Architect U.S. Quantitative Value ETF 2.3 49 -7 12.6 +6.1
VBK Vanguard Small-Cap Growth Index Fund 2.3 7 35 2.5 -4.1
VSDA VictoryShares Dividend Accelerator ETF 2.3 35 7 4.9 -1.6
PWC Invesco Dynamic Market ETF 2.3 59 -17 4.9 -1.7
DGRO iShares Core Dividend Growth ETF 2.2 8 34 6.7 +0.2
HIPR Direxion High Growth ETF 2.2 40 2 2.9 -3.7
FTC First Trust Large Cap Growth AlphaDEX Fund 2.2 61 -19 2.9 -3.6
IWO iShares Russell 2000 Growth ETF 2.2 24 18 0.8 -5.8
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 2.2 29 13 6.3 -0.2
DFND Reality Shares DIVCON Dividend Defender ETF 2.2 144 -102 3.4 -3.2
CACG ClearBridge All Cap Growth ETF 2.2 54 -12 4.4 -2.1
GVIP Goldman Sachs Hedge Industry VIP ETF 2.1 45 -3 4.7 -1.8
RSP Invesco S&P 500 Equal Weight ETF 2.1 20 22 6.8 +0.3

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 ETF
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 21.9 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 CATEGORY
AVERAGE		 1.52
 
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.