iShares U.S. Real Estate ETF
ALTAR
Score™
6.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.5x P/Sales
ratio
5.8x
P/BV
ratio
2.2x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares U.S. Real Estate Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, to the performance of the real estate sector of the U.S. equity market, as represented by the Dow Jones U.S. Real Estate Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jun 12, 2000
Assets (mns) $3,213
Currency USD
Expense ratio 42 bp
Distributions Quarterly

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 114
Wgt avg mkt cap (mns) $33,127
Large cap (>$10bn) 68.9%
Mid cap ($2-10bn) 27.8%
Small cap (<$2bn) 3.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMERICAN TOWER CORP-CL A 10.5 %
CROWN CASTLE INTL CORP 6.4 %
PROLOGIS INC 6.3 %
EQUINIX INC 4.7 %
DIGITAL REALTY TRUST INC 3.6 %
SBA COMMUNICATIONS CORP. CLASS A 3.0 %
PUBLIC STORAGE 2.7 %
COSTAR GROUP INC 2.5 %
AVALONBAY COMMUNITIES INC 2.0 %
WELLTOWER, INC. 2.0 %
Total 43.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.1 %
BRITAIN 0.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.0% -6.8% 5.8% 9.2% 10.3%

Market Correlations
versus... Beta R-squared
S&P500 0.79 57%
MSCI EAFE 0.79 50%
MSCI Emg. Mkts. 0.57 41%

Technical Indicators
Recent close $80.33
30d moving avg. $79.76
Annualized volatility 17.8%
Short interest (ETF) 37.8%
Short interest (Underlying) 2.9%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 7,729
Turnover 19.3%
Bid/Ask (% of price) 0.01%
ADV underlying (mns) $13,740

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares U.S. Real Estate ETF ETF based on the alternatives' overlap in portfolio holdings with IYR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IYR Expense: 42 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IYR
Ticker Fund
Name
Overlap1
vs IYR
(%)
Expense
ratio
(bp)
Savings
vs IYR
(bp)
ALTAR
Score™
(%)
ALTAR
vs IYR
(%)
FREL Fidelity MSCI Real Estate Index ETF 92.5 8 34 6.6 +0.1
SCHH Schwab U.S. REIT ETF 90.8 7 35 6.6 +0.1
PSR Invesco Active U.S. Real Estate Fund 85.4 35 7 6.3 -0.2
VNQ Vanguard REIT Index Fund 82.6 12 30 6.6 +0.1
USRT iShares Core U.S. REIT ETF 69.3 8 34 7.4 +0.9
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 68.9 11 31 7.4 +0.9
FRI First Trust S&P REIT Index Fund 68.9 50 -8 7.0 +0.5
XLRE The Real Estate Select Sector SPDR Fund 66.0 13 29 5.6 -0.9
REET iShares Global REIT ETF 61.1 14 28 7.4 +0.9
RWR SPDR Dow Jones REIT ETF 58.9 25 17 7.4 +0.9
RWO SPDR Dow Jones Global Real Estate ETF 56.4 50 -8 7.0 +0.5
ICF iShares Cohen & Steers REIT ETF 56.1 34 8 6.0 -0.5
PPTY PPTY-U.S. Diversified Real Estate ETF 54.4 53 -11 6.4 -0.1
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 51.7 40 2 6.9 +0.4
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 50.4 60 -18 7.2 +0.7
GQRE FlexShares Global Quality Real Estate Index Fund 38.5 45 -3 6.9 +0.4
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 30.8 60 -18 2.5 -4.0
REZ iShares Residential Real Estate Capped ETF 26.4 48 -6 6.2 -0.3
IYF iShares U.S. Financials ETF 24.0 42 0 7.2 +0.7
HOMZ Hoya Capital Housing ETF 23.6 45 -3 7.8 +1.3
RORE Hartford Multifactor REIT ETF 23.4 45 -3 15.3 +8.8
GRI ALPS REIT Dividend Dogs ETF 23.3 35 7 16.6 +10.1
NURE Nuveen Short-Term REIT ETF 20.5 35 7 7.3 +0.8
GLIF AGFiQ Global Infrastructure ETF 20.4 45 -3 5.2 -1.3
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 18.3 46 -4 5.4 -1.1
JKG iShares Morningstar Mid-Cap ETF 16.4 25 17 5.6 -0.9
PFI Invesco DWA Financial Momentum ETF 16.1 60 -18 3.6 -2.9
LGLV SPDR Russell 1000 Low Volatility ETF 16.1 12 30 5.7 -0.8
DON WisdomTree U.S. MidCap Dividend Fund 14.9 38 4 7.8 +1.3
BIBL Inspire ETF 14.3 35 7 4.9 -1.6
LVHD Legg Mason Low Volatility High Dividend ETF 13.9 27 15 8.8 +2.3
SPYD SPDR S&P 500 High Dividend ETF 13.7 7 35 10.4 +3.9
PVAL Principal Contrarian Value Index ETF 12.3 29 13 10.2 +3.7
QDIV Global X S&P 500 Quality Dividend ETF 12.2 20 22 7.7 +1.2
NUMV Nuveen ESG Mid-Cap Value ETF 11.9 40 2 7.8 +1.3
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 11.8 30 12 9.8 +3.3
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 11.8 35 7 5.4 -1.1
IWS iShares Russell Mid-Cap Value ETF 11.7 24 18 7.3 +0.8
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 11.6 60 -18 5.4 -1.1
VRAI Virtus Real Asset Income ETF 11.2 55 -13 11.2 +4.7
ONEY SPDR Russell 1000 Yield Focus ETF 11.1 20 22 9.4 +2.9
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 10.8 7 35 5.5 -1.0
VOT Vanguard Mid-Cap Growth Index Fund 10.7 7 35 3.5 -3.0
JDIV JPMorgan U.S. Dividend ETF 10.6 12 30 7.9 +1.4
INDS Pacer Benchmark Industrial Real Estate SCTR ETF 10.5 60 -18 4.2 -2.3
DHS WisdomTree U.S. High Dividend Fund 10.3 38 4 8.7 +2.2
SCHM Schwab U.S. Mid-Cap ETF 10.1 4 38 6.3 -0.2
MDYV SPDR S&P 400 Mid Cap Value ETF 10.1 15 27 8.8 +2.3
MDY SPDR S&P Midcap 400 ETF Trust 10.0 23 19 6.5 0.0
IJJ iShares S&P Mid-Cap 400 Value ETF 10.0 25 17 8.7 +2.2
IJH iShares Core S&P Mid-Cap ETF 10.0 6 36 6.7 +0.2
SPMD SPDR Portfolio Mid Cap ETF 10.0 5 37 6.7 +0.2
IVOV Vanguard S&P Mid-Cap 400 Value ETF 9.9 15 27 8.7 +2.2
IVOO Vanguard S&P Mid-Cap 400 ETF 9.8 10 32 6.5 +0.0
FCTR First Trust Lunt U.S. Factor Rotation ETF 9.7 65 -23 3.4 -3.1
FIVG Defiance Next Gen Connectivity ETF 9.4 30 12 4.9 -1.7
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 9.3 20 22 7.7 +1.2
FDVV Fidelity Core Dividend ETF 9.3 29 13 7.2 +0.7
BKMC BNY Mellon US Mid Cap Core Equity ETF 9.3 4 38 5.8 -0.7
CZA Invesco Zacks Mid-Cap ETF 9.2 76 -34 6.3 -0.2
AUSF Global X Adaptive U.S. Factor ETF 9.1 27 15 8.0 +1.5
VBR Vanguard Small Cap Value Index Fund 9.0 7 35 8.5 +2.0
VO Vanguard Mid-Cap Index Fund 8.8 4 38 5.5 -1.0
NXTG First Trust Indxx NextG ETF 8.7 70 -28 6.2 -0.3
DTN WisdomTree U.S. Dividend ex-Financials Fund 8.7 38 4 8.0 +1.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 8.7 40 2 7.3 +0.8
RNMC Mid Cap US Equity Select ETF 8.6 60 -18 7.8 +1.3
IJK iShares S&P Mid-Cap 400 Growth ETF 8.6 24 18 4.9 -1.6
JKE iShares Morningstar Large-Cap Growth ETF 8.5 25 17 2.9 -3.6
MDYG SPDR S&P 400 Mid Cap Growth ETF 8.5 15 27 5.0 -1.5
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 8.5 15 27 6.9 +0.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 8.4 25 17 6.8 +0.3
IWR iShares Russell Midcap ETF 8.4 19 23 5.7 -0.8
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 8.4 15 27 5.0 -1.6
RNDV US Equity Dividend Select ETF 8.0 50 -8 7.7 +1.2
JHSC John Hancock Multifactor Small Cap ETF 7.9 42 0 6.0 -0.6
SFYX Sofi Next 500 ETF 7.9 0 42 6.0 -0.5
BOSS Global X Founder-Run Companies ETF 7.8 45 -3 3.7 -2.8
JKJ iShares Morningstar Small-Cap ETF 7.6 25 17 6.8 +0.3
VB Vanguard Small-Cap ETF 7.5 5 37 5.4 -1.1
FSMD Fidelity Small-Mid Factor ETF 7.3 29 13 7.1 +0.6
VXF Vanguard Extended Market Index Fund 7.2 7 35 3.8 -2.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 7.2 6 36 5.4 -1.1
SIZE iShares Edge MSCI USA Size Factor ETF 7.2 15 27 6.4 -0.1
VFLQ Vanguard U.S. Liquidity Factor ETF 7.1 14 28 4.7 -1.8
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 7.1 25 17 7.9 +1.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 7.1 17 25 5.2 -1.3
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 7.0 9 33 5.9 -0.6
EUSA iShares MSCI USA Equal Weighted ETF 7.0 15 27 6.3 -0.2
NETL NETLease Corporate Real Estate ETF 7.0 60 -18 8.1 +1.6
NUSC Nuveen ESG Small-Cap ETF 7.0 40 2 5.4 -1.1
DTD WisdomTree U.S.Total Dividend Fund 6.9 28 14 6.7 +0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 6.8 29 13 6.8 +0.3
MILN Global X Millennials Thematic ETF 6.8 50 -8 2.5 -4.0
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 6.8 30 12 6.0 -0.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 6.7 20 22 7.1 +0.6
LSLT Salt Low truBeta US Market ETF 6.5 29 13 6.1 -0.4
BKSE BNY Mellon US Small Cap Core Equity ETF 6.5 4 38 5.7 -0.8
KNOW Direxion All Cap Insider Sentiment Shares 6.5 66 -24 5.0 -1.6

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

  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 U.S. Real Estate ETF
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 14.8 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.52
 
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.