iShares MSCI China ETF
ALTAR
Score™
6.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.1x P/Sales
ratio
1.8x
P/BV
ratio
2.3x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI China Index Fund seeks to track the performance of the MSCI China Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Mar 29, 2011
Assets (mns) $7,324
Currency USD
Expense ratio 59 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 586
Wgt avg mkt cap (mns) $231,894
Large cap (>$10bn) 85.6%
Mid cap ($2-10bn) 10.1%
Small cap (<$2bn) 0.1%
Developed mkts 24.1%
Emerging mkts 75.9%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 14.8 %
ALIBABA GROUP HOLDING LTD. SPONSOR 14.8 %
MEITUAN DIANPING 5.1 %
JD.COM INC-ADR 2.4 %
PING AN INSURANCE GROUP CO-H 2.3 %
CHINA CONSTRUCTION BANK-H 2.3 %
NIO INC. SPONSORED ADR CLASS A 2.2 %
BAIDU INC - SPON ADR 2.1 %
PINDUODUO, INC. SPONSORED ADR CLAS 1.9 %
XIAOMI CORP. CLASS B 1.7 %
Total 49.7 %

TOP COUNTRY EXPOSURE
CHINA 91.5 %
HONG KONG 8.2 %
SINGAPORE 0.1 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
27.7% 27.7% 14.3% -- 6.6%

Market Correlations
versus... Beta R-squared
S&P500 0.77 44%
MSCI EAFE 0.71 38%
MSCI Emg. Mkts. 0.83 64%

Technical Indicators
Recent close $91.10
30d moving avg. $82.14
Annualized volatility 21.7%
Short interest (ETF) 7.2%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 3,945
Turnover 4.9%
Bid/Ask (% of price) 0.01%
ADV underlying (mns) $94,596

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares MSCI China ETF ETF based on the alternatives' overlap in portfolio holdings with MCHI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MCHI Expense: 59 bp ALTAR Score™: 6.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MCHI
Ticker Fund
Name
Overlap1
vs MCHI
(%)
Expense
ratio
(bp)
Savings
vs MCHI
(bp)
ALTAR
Score™
(%)
ALTAR
vs MCHI
(%)
FLCH Franklin FTSE China ETF 91.8 19 40 6.9 +0.6
DFAE Dimensional Emerging Core Equity Market ETF 87.4 35 24 6.9 +0.5
GXC SPDR S&P China ETF 85.7 59 0 6.5 +0.1
BKF iShares MSCI BRIC ETF 69.7 70 -11 6.1 -0.3
KALL KraneShares MSCI All China Index ETF 67.4 49 10 6.8 +0.5
CN Xtrackers MSCI All China Equity ETF 59.2 50 9 6.9 +0.5
CXSE WisdomTree China ex-State-Owned Enterprises Fund 54.1 32 27 5.4 -1.0
CHIL Global X MSCI China Large-Cap 50 ETF 53.1 29 30 6.1 -0.2
GMF SPDR S&P Emerging Asia Pacific ETF 49.4 49 10 5.9 -0.5
EEMA iShares MSCI Emerging Markets Asia ETF 47.3 50 9 6.3 -0.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 44.5 68 -9 5.6 -0.8
SCHE Schwab Emerging Markets Equity ETF 43.2 11 48 6.7 +0.3
FLAX Franklin FTSE Asia Ex Japan ETF 42.0 19 40 6.2 -0.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 41.5 15 44 7.2 +0.9
KESG KraneShares MSCI China ESG Leaders Index ETF 40.1 59 0 8.1 +1.8
EEM iShares MSCI Emerging Markets ETF 39.8 70 -11 5.9 -0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 39.6 30 29 6.3 -0.1
SPEM SPDR Portfolio Emerging Markets ETF 39.1 11 48 6.5 +0.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 38.9 20 39 5.4 -1.0
EEMO Invesco S&P Emerging Markets Momentum ETF 38.8 29 30 3.3 -3.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 38.6 65 -6 5.9 -0.4
VWO Vanguard FTSE Emerging Markets ETF 37.3 10 49 6.9 +0.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 36.9 36 23 6.7 +0.3
KWEB KraneShares CSI China Internet ETF 35.7 76 -17 2.2 -4.2
IEMG iShares Core MSCI Emerging Markets ETF 35.5 11 48 6.5 +0.2
FXI iShares China Large-Cap ETF 34.5 74 -15 10.4 +4.1
JHEM John Hancock Multifactor Emerging Markets ETF 33.9 49 10 7.3 +1.0
ESGE iShares ESG Aware MSCI EM ETF 33.3 25 34 6.9 +0.6
FDNI First Trust Dow Jones International Internet ETF 32.9 65 -6 1.9 -4.5
AIA iShares Asia 50 ETF 32.8 50 9 5.9 -0.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 31.9 86 -27 2.1 -4.3
LDEM iShares ESG MSCI EM Leaders ETF 31.9 16 43 6.3 -0.0
BKEM BNY Mellon Emerging Markets Equity ETF 31.3 11 48 6.6 +0.2
EMXF iShares ESG Advanced MSCI EM ETF 31.1 16 43 7.1 +0.7
AVEM Avantis Emerging Markets Equity ETF 30.9 33 26 7.2 +0.8
EWEB Global X Emerging Markets Internet & E-commerce ETF 30.4 65 -6 2.5 -3.9
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 29.7 30 29 4.0 -2.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 29.4 45 14 6.3 -0.1
CHIQ Global X MSCI China Consumer ETF 29.1 65 -6 4.6 -1.8
NUEM Nuveen ESG Emerging Markets Equity ETF 28.5 45 14 5.4 -1.0
ECON Columbia Emerging Markets Consumer ETF 28.2 59 0 4.7 -1.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 27.8 32 27 5.0 -1.4
RESE WisdomTree Emerging Markets ESG Fund 27.6 32 27 6.6 +0.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 27.1 95 -36 7.0 +0.7
ISEM Invesco RAFI Strategic Emerging Markets ETF 26.9 35 24 8.7 +2.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 26.6 30 29 7.5 +1.1
PXH Invesco FTSE RAFI Emerging Markets ETF 26.5 50 9 11.4 +5.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 23.6 40 19 6.0 -0.4
FNI First Trust Chindia ETF 22.7 60 -1 2.4 -4.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 20.7 32 27 7.4 +1.0
CQQQ Invesco China Technology ETF 20.5 70 -11 4.4 -2.0
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 20.5 25 34 6.6 +0.2
BICK First Trust BICK Index Fund 20.1 64 -5 3.2 -3.2
PGJ Invesco Golden Dragon China ETF 19.6 70 -11 3.7 -2.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 19.1 59 0 10.4 +4.1
OGIG O'Shares Global Internet Giants ETF 18.7 48 11 0.6 -5.8
FDEM Fidelity Emerging Markets Multifactor ETF 18.3 45 14 7.7 +1.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 18.0 39 20 11.5 +5.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 17.8 49 10 7.5 +1.2
GLCN VanEck Vectors Ftse China A50 ETF 17.7 60 -1 4.1 -2.3
EMMF WisdomTree Emerging Markets Multifactor Fund 16.9 48 11 8.0 +1.6
EMGF iShares MSCI Emerging Markets Multifactor ETF 16.7 45 14 8.5 +2.1
DINT Davis Select International ETF 15.7 68 -9 5.3 -1.1
CHIC Global X MSCI China Communication Services ETF 15.6 66 -7 4.5 -1.9
PNQI Invesco NASDAQ Internet ETF 14.9 60 -1 1.0 -5.3
VSGX Vanguard ESG International Stock ETF 14.4 17 42 6.3 -0.1
GIGE SoFi Gig Economy ETF 14.4 59 0 -0.2 -6.6
SOCL Global X Social Media ETF 13.8 65 -6 2.2 -4.2
ROAM Hartford Multifactor Emerging Markets ETF 13.7 44 15 11.4 +5.0
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 13.7 60 -1 2.3 -4.1
DWLD Davis Select Worldwide ETF 13.6 63 -4 5.6 -0.8
CEZ VictoryShares Emerging Market Volatility Wtd ETF 13.5 50 9 9.4 +3.1
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.3 45 14 11.9 +5.5
JIG JPMorgan International Growth ETF 13.1 55 4 2.5 -3.9
CHIX Global X MSCI China Financials ETF 12.9 66 -7 17.7 +11.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 12.9 16 43 5.9 -0.5
PIE Invesco DWA Emerging Markets Momentum ETF 12.9 90 -31 1.8 -4.5
ACWX iShares MSCI ACWI ex U.S. ETF 12.8 32 27 6.3 -0.1
BUYZ Franklin Disruptive Commerce ETF 12.6 50 9 -0.3 -6.7
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF 12.6 44 15 8.1 +1.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 12.4 40 19 6.0 -0.3
CWI SPDR MSCI ACWI ex-US ETF 12.1 30 29 6.1 -0.3
FPXI First Trust International Equity Opportunities ETF 11.8 70 -11 3.7 -2.7
AIQ Global X Future Analytics Tech ETF 11.6 68 -9 3.4 -3.0
CNYA iShares MSCI China A ETF 11.4 60 -1 5.6 -0.8
ASHX Xtrackers MSCI China A Inclusion Equity ETF 11.3 60 -1 5.6 -0.8
BLCN Reality Shares Nasdaq NextGen Economy ETF 11.2 68 -9 4.9 -1.5
KBA KraneShares Bosera MSCI China A Share ETF 11.1 60 -1 5.6 -0.7
IXUS ishares Core MSCI Total International Stock ETF 11.1 9 50 6.4 +0.0
VEU Vanguard FTSE All-World ex-US Index Fund 11.1 8 51 6.6 +0.2
JOYY Infusive Compounding Global Equities ETF 11.0 50 9 3.4 -3.0
GENY Principal Millennials Index ETF 10.7 45 14 3.4 -3.0
DSTX Distillate International Fundamental Stability & Value ETF 10.4 55 4 5.9 -0.5
ESPO VanEck Vectors Video Gaming & eSports ETF 10.4 55 4 3.1 -3.3
FCA First Trust China AlphaDEX Fund 10.0 80 -21 12.6 +6.2
EBIZ Global X E-Commerce ETF 10.0 50 9 2.5 -3.9
VIGI Vanguard International Dividend Appreciation ETF 9.9 20 39 5.0 -1.3
IXP iShares Global Comm Services ETF 9.8 46 13 5.2 -1.2

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 MSCI China 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 14.5 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.22 CATEGORY
AVERAGE
1.39
 
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.