iShares Transportation Average
ALTAR
Score™
8.7% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
14.5x P/Sales
ratio
1.1x
P/BV
ratio
2.9x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Transportation Average ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of Dow Jones Transportation Average Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Oct 10, 2003
Assets (mns) $546
Currency USD
Expense ratio 42 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Price
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 21
Wgt avg mkt cap (mns) $38,718
Large cap (>$10bn) 76.9%
Mid cap ($2-10bn) 20.9%
Small cap (<$2bn) 2.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NORFOLK SOUTHERN CORP 10.7 %
UNION PACIFIC CORP 9.7 %
FEDEX CORP 9.0 %
KANSAS CITY SOUTHERN 8.4 %
UNITED PARCEL SERVICE-CL B 6.8 %
HUNT (JB) TRANSPRT SVCS INC 6.6 %
LANDSTAR SYSTEM INC 6.4 %
UNITED CONTINENTAL HOLDINGS 5.1 %
KIRBY CORP 4.6 %
C.H. ROBINSON WORLDWIDE INC 4.3 %
Total 71.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %










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.
15.6% 4.4% 5.0% 12.6% 9.5%

Market Correlations
versus... Beta R-squared
S&P500 1.37 74%
MSCI EAFE 1.04 37%
MSCI Emg. Mkts. 0.66 24%

Technical Indicators
Recent close $195.14
30d moving avg. $190.02
Annualized volatility 19.2%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.4%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 193
Turnover 6.9%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $3,150

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IYT Expense: 42 bp ALTAR Score™: 8.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IYT
Ticker Fund
Name
Overlap1
vs IYT
(%)
Expense
ratio
(bp)
Savings
vs IYT
(bp)
ALTAR
Score™
(%)
ALTAR
vs IYT
(%)
XLTY Cushing Transportation & MLP 60.2 65 -23 7.7 -1.0
FTXR First Trust Nasdaq Transportation 48.1 60 -18 10.2 +1.5
XTN SPDR S&P Transportation 45.5 35 7 8.3 -0.4
XLI Industrials Select Sector SPDR 21.1 13 29 6.2 -2.5
RGI Invesco S&P Equal Weight Industrials 19.9 40 2 6.6 -2.1
JETS US Global Jets 18.2 60 -18 16.6 +7.9
JHMI John Hancock Multifactor Industrials 17.1 40 2 6.6 -2.1
VIS Vanguard Industrials 16.8 10 32 6.3 -2.4
FXR First Trust Industrials/Producer Durables 15.7 62 -20 7.0 -1.7
FIDU Fidelity Industrials 14.6 8 34 6.0 -2.7
PAVE Global X U.S. Infrastructure Development 12.3 47 -5 5.8 -2.9
IYJ iShares DJ US Industrials 11.2 42 0 5.4 -3.3
EXI iShares Global Industrials 11.0 46 -4 6.1 -2.6
ACSI American Customer Satisfaction Core Alpha 9.8 66 -24 7.8 -0.9
PEJ Invesco Dynamic Leisure & Entertainment 9.4 63 -21 6.2 -2.5
PKW Invesco Buyback Acheivevers 9.0 62 -20 6.0 -2.7
EQRR ProShares Equities for Rising Rates 9.0 35 7 8.1 -0.6
QGRO American Century STOXX U.S. Quality Growth 7.5 29 13 4.8 -3.9
QQXT First Trust NASDAQ-100 Ex-Tech 6.7 60 -18 6.1 -2.6
HONR InsightShares Patriotic Employers 6.6 65 -23 7.0 -1.7

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 Transportation Average
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 22.6 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 8.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.