iShares MSCI Japan Min Volatility
ALTAR
Score™
6.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
15.7x P/Sales
ratio
0.9x
P/BV
ratio
1.2x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Japan Minimum Volatility ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the investment results of an index composed of Japanese equities that, in the aggregate, have lower volatility characteristics relative to the broader Japanese equity markets.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Jun 05, 2014
Assets (mns) $35
Currency USD
Expense ratio 30 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Multi-Factor
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 163
Wgt avg mkt cap (mns) $25,816
Large cap (>$10bn) 65.8%
Mid cap ($2-10bn) 34.1%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TOYOTA MOTOR CORP 1.6 %
NTT DOCOMO, INC. 1.6 %
YAMADA DENKI CO LTD 1.6 %
ORIENTAL LAND CO LTD 1.6 %
KDDI CORPORATION 1.5 %
SECOM CO LTD 1.5 %
MCDONALD'S HOLDINGS CO JAPAN 1.5 %
JAPAN REAL ESTATE INVESTMENT 1.5 %
NIPPON BUILDING FUND INC 1.5 %
CHUGOKU ELECTRIC POWER CO 1.5 %
Total 15.4 %

TOP COUNTRY EXPOSURE
JAPAN 99.0 %










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.
11.7% 9.8% 7.4% -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.38 30%
MSCI EAFE 0.55 53%
MSCI Emg. Mkts. 0.43 55%

Technical Indicators
Recent close $70.44
30d moving avg. $69.58
Annualized volatility 8.3%
Short interest (ETF) 0.3%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 5
Turnover 1.0%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $10,854

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JPMV Expense: 30 bp ALTAR Score™: 6.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPMV
Ticker Fund
Name
Overlap1
vs JPMV
(%)
Expense
ratio
(bp)
Savings
vs JPMV
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPMV
(%)
GSJY Goldman Sachs ActiveBeta Japan Equity 50.5 25 5 7.8 +1.0
SCIJ Global X Scientific Beta Japan 49.1 39 -9 7.0 +0.3
EWJ iShares MSCI Japan 48.5 47 -17 7.6 +0.9
QJPN SPDR MSCI Japan Quality Mix 48.1 14 16 8.0 +1.3
DBJP Xtrackers MSCI Japan Hedged 48.0 45 -15 7.6 +0.9
BBJP JPMorgan BetaBuilders Japan 47.0 19 11 7.9 +1.2
JPXN iShares JPX-Nikkei 400 46.3 48 -18 7.7 +1.0
JPN Xtrackers Japan JPX-Nikkei 400 Equity 46.2 9 21 8.1 +1.3
HFXJ IQ 50 Percent Hedged FTSE Japan 45.3 30 0 7.8 +1.1
FLJP Franklin FTSE Japan 44.9 9 21 8.0 +1.3
FLJH Franklin FTSE Japan Hedged 44.7 9 21 8.0 +1.3
EWJE iShares MSCI Japan Equal Weighted 40.5 15 15 7.3 +0.6
EWJV iShares MSCI Japan Value 38.2 15 15 10.1 +3.4
IPAC iShares Core MSCI Pacific 33.6 9 21 7.5 +0.7
DXJ WisdomTree Japan Hedged Equity 32.8 48 -18 8.6 +1.9
EFAV iShares MSCI EAFE Minimum Volatility 29.5 20 10 5.8 -0.9
VPL Vanguard Pacific ETF 29.2 9 21 7.8 +1.1
RFAP First Trust Riverfront Dynamic Asia Pacific 28.5 83 -53 7.3 +0.6
RBIN Nationwide Risk-Based International Equity 24.5 42 -12 7.3 +0.6
MVIN Natixis Seeyond International Minimum Volatility 22.4 55 -25 6.2 -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 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 Japan Min Volatility
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.3 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 6.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 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.