iShares Global Financials ETF
ALTAR
Score™
8.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
10.8x P/Sales
ratio
1.8x
P/BV
ratio
1.1x Div.
yield
3.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares S&P Global Financials Sector Index Fund seeks investment results that correspond to the performance of the S&P Global Financials Index. The Fund uses a Representative Sampling strategy

FUND BASICS
Category Global Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Nov 16, 2001
Assets (mns) $487
Currency USD
Expense ratio 46 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 188
Wgt avg mkt cap (mns) $136,238
Large cap (>$10bn) 97.2%
Mid cap ($2-10bn) 2.8%
Small cap (<$2bn) 0.0%
Developed mkts 93.7%
Emerging mkts 6.3%

TOP TEN HOLDINGS
BERKSHIRE HATHAWAY INC-CL B 6.4 %
JPMORGAN CHASE & CO 6.0 %
BANK OF AMERICA CORP 3.9 %
WELLS FARGO & CO 2.6 %
CITIGROUP INC 2.4 %
HSBC HOLDINGS PLC 2.1 %
AIA GROUP LTD 1.7 %
ROYAL BANK OF CANADA 1.7 %
ALLIANZ SE-REG 1.5 %
TORONTO-DOMINION BANK 1.5 %
Total 29.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 46.7 %
BRITAIN 7.7 %
CANADA 7.7 %
AUSTRALIA 5.1 %
JAPAN 4.7 %
SWITZERLAND 4.5 %
CHINA 3.9 %
GERMANY 3.1 %
HONG KONG 2.5 %
FRANCE 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.6% 10.6% 7.2% 7.2% 4.1%

Market Correlations
versus... Beta R-squared
S&P500 1.02 73%
MSCI EAFE 1.14 75%
MSCI Emg. Mkts. 0.81 66%

Technical Indicators
Recent close $64.04
30d moving avg. $68.03
Annualized volatility 14.5%
Short interest (ETF) 0.9%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 37
Turnover 0.5%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $19,809

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IXG Expense: 46 bp ALTAR Score™: 8.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IXG
Ticker Fund
Name
Overlap1
vs IXG
(%)
Expense
ratio
(bp)
Savings
vs IXG
(bp)
ALTAR
Score™
(%)
ALTAR
vs IXG
(%)
VFH Vanguard Financials Index Fund 49.0 10 36 8.0 -0.7
FNCL Fidelity MSCI Financials Index ETF 49.0 8 38 8.0 -0.7
XLF Financial Select Sector SPDR Fund 49.0 13 33 7.6 -1.1
IYF iShares U.S. Financials ETF 49.0 42 4 6.4 -2.3
RWW Invesco S&P Financials Revenue ETF 46.3 45 1 7.9 -0.8
JHMF John Hancock Multifactor Financials ETF 44.0 40 6 7.2 -1.5
IEFN iShares Evolved U.S. Financials ETF 40.1 18 28 8.2 -0.6
RYF Invesco S&P 500 Equal Weight Financials ETF 35.1 40 6 7.9 -0.8
IYG iShares US Financial Services ETF 33.6 42 4 7.1 -1.6
VYMI Vanguard International High Dividend Yield ETF 27.9 32 14 9.7 +1.0
DFNL Davis Select Financial ETF 27.7 64 -18 7.6 -1.1
EFV iShares MSCI EAFE Value ETF 27.7 39 7 9.6 +0.9
IWX iShares Russell Top 200 Value ETF 26.1 20 26 7.3 -1.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 23.5 45 1 8.6 -0.1
EUFN iShares MSCI Europe Financials ETF 23.1 48 -2 9.4 +0.7
KBWB Invesco KBW Bank ETF 22.3 35 11 9.0 +0.3
MGV Vanguard Mega Cap Value ETF 22.2 7 39 7.5 -1.3
FXO First Trust Financials AlphaDEX Fund 21.9 63 -17 8.5 -0.2
RAFE PIMCO RAFI ESG U.S. ETF 21.7 29 17 8.4 -0.3
DOL WisdomTree International LargeCap Dividend Fund 21.6 48 -2 8.2 -0.5

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

  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

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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 Global Financials 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 10.0 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 8.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 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.