iShares MSCI Int'l Developed Value Factor
ALTAR
Score™
10.3% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
10.2x P/Sales
ratio
0.6x
P/BV
ratio
0.9x Div.
yield
4.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI International Developed Value Factor ETF tracks an index of large- and midcap developed ex-US equities, selected using fundamental metrics, and weighted by these metrics and market cap.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Jun 16, 2015
Assets (mns) $359
Currency USD
Expense ratio 30 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 333
Wgt avg mkt cap (mns) $48,552
Large cap (>$10bn) 83.3%
Mid cap ($2-10bn) 16.6%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BRITISH AMERICAN TOBACCO PLC 2.7 %
SANOFI-AVENTIS 2.6 %
NOVARTIS AG-REG 2.5 %
TOYOTA MOTOR CORP 2.4 %
BAYER AG 2.0 %
MITSUBISHI UFJ FINANCIAL GRO 1.7 %
HITACHI LTD 1.4 %
MITSUBISHI CORP 1.4 %
BNP PARIBAS 1.3 %
TOTAL SA 1.3 %
Total 19.3 %

TOP COUNTRY EXPOSURE
JAPAN 40.7 %
BRITAIN 14.9 %
FRANCE 10.7 %
GERMANY 7.2 %
SWITZERLAND 4.1 %
NETHERLANDS 3.3 %
ITALY 3.1 %
HONG KONG 3.1 %
SPAIN 3.0 %
CANADA 2.6 %

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.
10.6% 3.3% -- -- 2.0%

Market Correlations
versus... Beta R-squared
S&P500 0.80 61%
MSCI EAFE 1.05 90%
MSCI Emg. Mkts. 0.75 75%

Technical Indicators
Recent close $24.27
30d moving avg. $23.40
Annualized volatility 12.3%
Short interest (ETF) 0.2%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 120
Turnover 0.8%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $18,797

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI Int'l Developed Value Factor ETF based on the alternatives' overlap in portfolio holdings with IVLU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IVLU Expense: 30 bp ALTAR Score™: 10.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IVLU
Ticker Fund
Name
Overlap1
vs IVLU
(%)
Expense
ratio
(bp)
Savings
vs IVLU
(bp)
ALTAR
Score™
(%)
ALTAR
vs IVLU
(%)
EFV iShares MSCI EAFE Value 52.5 38 -8 8.9 -1.4
REFA Invesco International Revenue ETF 50.1 42 -12 8.7 -1.6
IQIN IQ 500 International 45.6 25 5 8.4 -1.9
PXF Invesco FTSE-RAFI Developed ex-US 44.5 45 -15 8.1 -2.2
FNDF Schwab Fundamental Intl Large Cap 44.1 25 5 7.5 -2.9
UIVM USAA MSCI International Value Momentum Blend Index 38.7 35 -5 8.2 -2.2
EWJ iShares MSCI Japan 37.0 47 -17 7.6 -2.7
DBJP Xtrackers MSCI Japan Hedged 36.7 45 -15 7.6 -2.8
QJPN SPDR MSCI Japan Quality Mix 36.6 14 16 8.0 -2.3
DOL WisdomTree Int'l Large Cap Dividend 36.5 48 -18 7.7 -2.7
BBJP JPMorgan BetaBuilders Japan 36.5 19 11 7.9 -2.4
JHMD John Hancock Multifactor Developed International 35.9 45 -15 7.2 -3.1
HFXJ IQ 50 Percent Hedged FTSE Japan 35.8 30 0 7.8 -2.6
FLJP Franklin FTSE Japan 35.7 9 21 8.0 -2.3
FLJH Franklin FTSE Japan Hedged 35.5 9 21 8.0 -2.4
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 34.8 35 -5 7.8 -2.5
EFA iShares MSCI EAFE 34.4 31 -1 7.0 -3.4
FIVA Fidelity International Value Factor 34.4 39 -9 9.4 -1.0
ISDX Invesco Strategic Developed ex-US 34.2 23 7 7.7 -2.6
DTH WisdomTree DEFA Equity Income 34.2 58 -28 8.5 -1.8

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

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 MSCI Int'l Developed Value Factor
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 8.9 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 10.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 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.