iShares US Home Construction
ALTAR
Score™
8.4% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
14.1x P/Sales
ratio
1.0x
P/BV
ratio
2.1x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares US Home Construction Index Fund is an exchange-traded fund located in the USA. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones US Select Home Builders Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date May 05, 2006
Assets (mns) $1,289
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 46
Wgt avg mkt cap (mns) $27,442
Large cap (>$10bn) 63.1%
Mid cap ($2-10bn) 29.6%
Small cap (<$2bn) 7.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DR HORTON INC 13.2 %
LENNAR CORP-CL A 12.4 %
NVR INC 9.1 %
PULTE HOMES INC 7.4 %
SHERWIN-WILLIAMS CO/THE 4.7 %
HOME DEPOT INC 4.3 %
LOWE'S COS INC 4.3 %
TOLL BROTHERS INC 3.8 %
MASCO CORP 3.1 %
TOPBUILD CORP 2.7 %
Total 65.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.5 %
CANADA 0.4 %









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.
49.3% 44.2% 13.7% 15.5% 0.9%

Market Correlations
versus... Beta R-squared
S&P500 1.02 45%
MSCI EAFE 0.99 35%
MSCI Emg. Mkts. 0.69 28%

Technical Indicators
Recent close $44.91
30d moving avg. $44.47
Annualized volatility 18.4%
Short interest (ETF) 0.0%
Short interest (Underlying) 5.6%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 2,455
Turnover 8.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $3,420

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: ITB Expense: 42 bp ALTAR Score™: 8.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ITB
Ticker Fund
Name
Overlap1
vs ITB
(%)
Expense
ratio
(bp)
Savings
vs ITB
(bp)
ALTAR
Score™
(%)
ALTAR
vs ITB
(%)
XHB SPDR S&P Homebuilders 53.4 35 7 7.7 -0.7
PKB Invesco Dynamic Building & Construction 33.9 60 -18 6.5 -1.8
HOMZ Hoya Capital Housing 33.6 45 -3 6.3 -2.0
RCD Invesco S&P Equal Weight Consumer Discretionary 13.2 40 2 8.4 +0.0
PSCD Invesco S&P Small Cap Consumer Discretionary 11.4 29 13 8.3 -0.1
XLY Consumer Discretionary Select Sector SPDR 11.3 13 29 5.7 -2.7
VCR Vanguard Consumer Discretionary 10.8 10 32 5.5 -2.9
FDIS Fidelity MSCI Consumer Discrettionary 10.7 8 34 5.4 -3.0
FXD First Trust Consumer Discretionary 10.6 64 -22 8.0 -0.3
PEZ Invesco DWA Consumer Discretionary Momentum 9.9 60 -18 4.9 -3.5
PRN Invesco DWA Industrials Momentum 8.6 60 -18 4.2 -4.2
RTH VanEck Vectors Retail 8.6 35 7 5.7 -2.6
EES WisdomTree SmallCap Earnings 8.5 38 4 9.3 +0.9
RXI iShares S&P Global Consumer Discretionary 8.4 46 -4 6.8 -1.6
VAMO Cambria Value & Momentum 7.8 64 -22 6.3 -2.1
JHMC John Hancock Multifactor Consumer Discretionary 7.7 40 2 5.9 -2.5
IEDI iShares Evolved U.S. Discretionary Spending 7.3 18 24 5.0 -3.4
KNOW Direxion All-Cap Insider Sentiment 7.3 59 -17 10.2 +1.8
IYC iShares DJ US Consumer Services 7.2 42 0 5.0 -3.3
RZV Invesco S&P Smallcap 600 Pure Value 6.6 35 7 8.6 +0.2

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 US Home Construction
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.3 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 8.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.