ETF Research Center

iShares Emergent Food and AgTech Multisector ETF

ALTAR
Score™

9.2%

Recommen-
dation

SPECULATIVE

2025E 2026E
P/E ratio	15.5x	P/Sales ratio	1.3x
P/BV ratio	1.8x	Div. yield	3.0%

Description
Performance
Comps
Fundamentals
Valuation
Rating

IVEG tracks an index of companies poised to benefit from the advancement of agricultural technologies or innovations in food products and services.

FUND BASICS
Category	Global Equities
Fund Sponsor	Blackrock
Website	www.ishares.com/us/products/326601/ishares-emergent-food-and-agtech-multisector-etf#:~:text=The%20iShares%20Emer
Inception date	Apr 25, 2022
Assets (mns)	$4
Currency	USD
Expense ratio	47 bp
Distributions	Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Market Cap
Index replication
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	33
Wgt avg mkt cap (mns)	$26,287
Large cap (>$10bn)	76.2%
Mid cap ($2-10bn)	21.1%
Small cap (<$2bn)	2.8%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	0.0 %
	0.0 %

TOP COUNTRY EXPOSURE
		0.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru July 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
10.6%	13.2%	--	--	-1.2%

Market Correlations
versus...	Beta	R-squared
S&P500	1.04	67%
MSCI EAFE	0.96	63%
MSCI Emg. Mkts.	0.72	38%

Technical Indicators
Recent close	$21.65
30d moving avg.	$21.82
Annualized volatility	19.5%
Short interest (ETF)	4.4%
Relative strength (RSI)	51

Liquidity measures
Avg. volume (thou.)	0
Turnover	0.0%
Bid/Ask (% of price)	0.28%
ADV underlying (mns)	$1,896

Distributions

There were no matches found with other funds under coverage.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	iShares Emergent Food and AgTech Multisector ETF
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	16.1	%
Divided by: Fwd. P/BV	1.7	x
Less: Expense ratio	47	bp
Equals: ALTAR Score	9.2	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.67	CATEGORY AVERAGE	1.58

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.