ETF Research Center

iShares S&P Global Technology Sector Index Fund seeks investment results that correspond to the performance of the S&P Global Information Technology Sector Index. These include companies that

FUND BASICS
Category	Global Equities
Fund Sponsor	Barclays Global Fund Advisors
Website	www.ishares.com
Inception date	Nov 16, 2001
Assets (mns)	$3,070
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	117
Wgt avg mkt cap (mns)	$448,855
Large cap (>$10bn)	98.6%
Mid cap ($2-10bn)	1.4%
Small cap (<$2bn)	0.0%
Developed mkts	92.3%
Emerging mkts	7.7%

TOP TEN HOLDINGS
Total	53.9 %
MICROSOFT CORP	15.2 %
APPLE INC	15.1 %
VISA INC-CLASS A SHARES	4.2 %
INTEL CORP	3.5 %
MASTERCARD INC-CLASS A	3.3 %
SAMSUNG ELECTRONICS CO LTD	3.2 %
CISCO SYSTEMS INC	2.8 %
TAIWAN SEMICONDUCTOR MANUFAC	2.6 %
SAP AG	2.0 %
ADOBE SYSTEMS INC	1.9 %

TOP COUNTRY EXPOSURE
	UNITED STATES	76.7 %
	JAPAN	4.5 %
	SOUTH KOREA	4.1 %
	TAIWAN	3.6 %
	GERMANY	2.6 %
	IRELAND	1.8 %
	NETHERLANDS	1.8 %
	CANADA	1.1 %
	SWITZERLAND	0.9 %
	FRANCE	0.6 %

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.
34.2%	21.2%	16.9%	15.4%	8.0%

Market Correlations
versus...	Beta	R-squared
S&P500	1.07	73%
MSCI EAFE	1.04	58%
MSCI Emg. Mkts.	0.75	51%

Technical Indicators
Recent close	$198.06
30d moving avg.	$189.42
Annualized volatility	15.1%
Short interest (ETF)	0.1%
Relative strength (RSI)	63

Liquidity measures
Avg. volume (thou.)	90
Turnover	0.6%
Bid/Ask (% of price)	0.08%
ADV underlying (mns)	$36,770

Distributions

FINDING ALTERNATIVE FUNDS

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

Benchmark ticker:

IXN

Expense:

46 bp

ALTAR Score™:

5.4%

ALTERNATIVE ETFs BASED ON OVERLAP WITH IXN
Ticker	Fund Name	Overlap¹ vs IXN (%)	Expense ratio (bp)	Savings vs IXN (bp)	ALTAR Score™ (%)	ALTAR vs IXN (%)
XLK	Technology Select Sector SPDR	79.0	13	33	5.6	+0.2
FTEC	Fidelity MSCI Info Technology	79.0	8	38	5.4	+0.1
VGT	Vanguard Info Tech ETF	78.9	10	36	5.4	+0.1
IYW	iShares US Technology	61.6	42	4	5.2	-0.1
IGM	iShares S&P N. American Technology	61.4	46	0	4.6	-0.7
IETC	iShares Evolved U.S. Technology	60.9	18	28	4.9	-0.5
QYLD	Global X NASDAQ 100 Covered Call ETF	47.3	60	-14	4.9	-0.5
QQQ	Invesco QQQ	45.5	20	26	5.3	-0.1
JHMT	John Hancock Multifactor Technology	44.4	40	6	6.0	+0.7
RYT	Invesco S&P Equal Weight Technology	41.2	40	6	6.6	+1.3
TDIV	First Trust NASDAQ Technology Dividend	38.8	50	-4	6.6	+1.2
IWY	iShares Russell Top 200 Growth	38.8	20	26	5.1	-0.2
MGK	Vanguard Mega Cap 300 Growth	38.4	7	39	5.1	-0.3
SPHQ	Invesco S&P High Quality Portfolio	36.1	15	31	5.7	+0.3
VUG	Vanguard Growth ETF	35.0	4	42	4.9	-0.5
IWF	iShares Russell 1000 Growth	34.7	19	27	5.0	-0.3
VONG	Vanguard Russell 1000 Growth	34.5	12	34	5.1	-0.3
TMFC	Motley Fool 100 Index	33.1	50	-4	4.4	-0.9
XNTK	SPDR NYSE Technology	32.3	35	11	5.5	+0.2
KOIN	Innovation Shares NextGen Protocol	32.0	95	-49	4.7	-0.6

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	**	**	**	**	**	**	**
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 S&P Global Technology
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	23.8	%
Divided by: Fwd. P/BV	4.1	x
Less: Expense ratio	46	bp
Equals: ALTAR Score	5.4	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.44	CATEGORY AVERAGE	1.54

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.