iShares MSCI China ETF
ALTAR
Score™		 10.1% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 10.5x P/Sales
ratio		 1.0x
P/BV
ratio		 1.4x Div.
yield		 2.8%


  • 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 31, 2011
Assets (mns) $4,969
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 600
Wgt avg mkt cap (mns) $196,272
Large cap (>$10bn) 82.8%
Mid cap ($2-10bn) 16.3%
Small cap (<$2bn) 0.8%
Developed mkts 19.6%
Emerging mkts 80.4%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 17.4 %
TENCENT HOLDINGS LTD 14.5 %
CHINA CONSTRUCTION BANK-H 4.0 %
PING AN INSURANCE GROUP CO-H 2.8 %
CHINA MOBILE LIMITED 2.3 %
IND & COMM BK OF CHINA - H 2.3 %
BANK OF CHINA LTD - H 1.5 %
JD.COM INC-ADR 1.5 %
BAIDU INC - SPON ADR 1.4 %
NETEASE.COM INC-ADR 1.2 %
Total 49.1 %

TOP COUNTRY EXPOSURE
CHINA 85.1 %
HONG KONG 12.5 %
SINGAPORE 0.1 %
UNITED STATES 0.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-10.7% -6.9% 2.8% -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.97 49%
MSCI EAFE 0.98 49%
MSCI Emg. Mkts. 0.97 70%

Technical Indicators
Recent close $57.25
30d moving avg. $59.41
Annualized volatility 21.0%
Short interest (ETF) 11.7%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 6,869
Turnover 7.9%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $61,678

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 10.1%


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 89.7 19 40 10.3 +0.2
GXC SPDR S&P China ETF 84.3 59 0 10.0 -0.1
BKF iShares MSCI BRIC ETF 70.1 69 -10 9.9 -0.1
KALL KraneShares FTSE Emerging Markets Plus ETF 66.9 49 10 10.0 -0.1
CN Xtrackers MSCI All China Equity ETF 58.8 50 9 10.3 +0.3
WCHN WisdomTree ICBCCS S&P China 500 Fund 56.7 55 4 9.8 -0.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 54.7 32 27 8.1 -2.0
CHIL Global X MSCI China Large-Cap 50 ETF 53.0 29 30 10.5 +0.4
EEMA iShares MSCI Emerging Markets Asia ETF 49.3 50 9 9.9 -0.1
GMF SPDR S&P Emerging Asia Pacific ETF 48.1 49 10 9.3 -0.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 43.3 68 -9 9.3 -0.7
SCHE Schwab Emerging Markets Equity ETF 42.1 13 46 10.3 +0.2
FLAX Franklin FTSE Asia Ex Japan ETF 41.7 19 40 9.9 -0.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 40.0 14 45 11.2 +1.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 39.3 20 39 9.1 -1.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 39.1 30 29 10.2 +0.1
EEM iShares MSCI Emerging Markets ETF 39.1 68 -9 9.9 -0.1
VWO Vanguard FTSE Emerging Markets ETF 37.9 10 49 10.4 +0.3
SPEM SPDR Portfolio Emerging Markets ETF 37.6 11 48 10.1 +0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 37.4 65 -6 10.0 -0.1
FXI iShares China Large-Cap ETF 37.0 74 -15 14.4 +4.4
IEMG iShares Core MSCI Emerging Markets ETF 35.5 14 45 10.4 +0.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 35.2 32 27 8.3 -1.7
PXH Invesco FTSE RAFI Emerging Markets ETF 35.0 50 9 15.9 +5.8
JHEM John Hancock Multifactor Emerging Markets ETF 34.8 55 4 10.6 +0.6
AIA iShares Asia 50 ETF 32.7 50 9 10.0 -0.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 31.9 45 14 10.2 +0.2
ISEM Invesco Strategic Emerging Markets ETF 31.7 35 24 11.8 +1.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 29.3 95 -36 12.2 +2.1
KWEB KraneShares CSI China Internet ETF 28.7 76 -17 4.4 -5.7
ESGE iShares ESG MSCI EM ETF 28.7 25 34 11.4 +1.3
AVEM Avantis Emerging Markets Equity ETF 28.0 33 26 11.6 +1.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 27.7 30 29 10.7 +0.7
FDNI First Trust Dow Jones International Internet ETF 27.6 65 -6 4.0 -6.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 26.9 39 20 15.2 +5.2
DVEM WisdomTree Emerging Markets Dividend Fund 26.7 32 27 10.8 +0.8
NUEM Nuveen ESG Emerging Markets Equity ETF 26.3 45 14 9.2 -0.9
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 25.3 18 41 7.3 -2.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 25.0 86 -27 3.4 -6.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 24.1 59 0 13.0 +3.0
EMCG WisdomTree Emerging Markets Consumer Growth Fund 24.0 32 27 9.1 -1.0
ECON Columbia Emerging Markets Consumer ETF 24.0 59 0 5.7 -4.4
TTTN UP Fintech China-U.S. Internet Titans ETF 23.8 59 0 6.2 -3.9
BICK First Trust BICK Index Fund 21.8 64 -5 6.2 -3.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 21.2 40 19 8.9 -1.1
JOYY Infusive Compounding Global Equities ETF 20.8 50 9 5.0 -5.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 20.7 32 27 11.3 +1.3
DEM WisdomTree Emerging Markets High Dividend Fund 19.1 63 -4 16.7 +6.6
CHIQ Global X China Consumer ETF 19.0 65 -6 11.5 +1.5
CHIX Global X China Financials ETF 18.8 65 -6 19.0 +9.0
FNI First Trust Chindia ETF 18.6 59 0 4.5 -5.6
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 18.5 45 14 11.7 +1.7
PGJ Invesco Golden Dragon China ETF 17.6 70 -11 4.4 -5.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 17.4 25 34 9.7 -0.4
AXJL WisdomTree Asia Pacific ex-Japan Fund 17.4 48 11 10.9 +0.9
CHIC Global X Nasdaq China Technology ETF 17.3 65 -6 4.9 -5.2
CQQQ Invesco China Technology ETF 17.1 70 -11 5.2 -4.9
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 16.9 50 9 12.5 +2.4
EMMF WisdomTree Emerging Markets Multifactor Fund 16.6 48 11 11.9 +1.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 16.3 45 14 10.5 +0.4
ONLN ProShares Online Retail ETF 15.8 58 1 2.8 -7.2
SOCL Global X Social Media ETF 15.8 65 -6 3.5 -6.6
ROAM Hartford Multifactor Emerging Markets ETF 15.7 44 15 17.8 +7.8
FDEM Fidelity Targeted Emerging Markets Factor ETF 15.7 45 14 11.6 +1.5
GBUY Goldman Sachs Motif New Age Consumer ETF 15.1 50 9 3.6 -6.5
OGIG O'Shares Global Internet Giants ETF 15.1 48 11 1.1 -9.0
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 15.0 80 -21 2.2 -7.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 14.8 49 10 11.3 +1.3
PNQI Invesco NASDAQ Internet ETF 14.4 62 -3 3.0 -7.0
DINT Davis Select International ETF 13.9 75 -16 7.7 -2.4
BUYZ Franklin Disruptive Commerce ETF 13.2 50 9 0.3 -9.8
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.1 45 14 16.1 +6.0
FCA First Trust China AlphaDEX Fund 12.2 80 -21 16.5 +6.4
PIE Invesco DWA Emerging Markets Momentum ETF 12.1 90 -31 6.8 -3.2
RNEM Emerging Markets Equity Select ETF 11.1 75 -16 11.4 +1.3
ACWX iShares MSCI ACWI ex U.S. ETF 11.0 32 27 9.1 -0.9
GIGE SoFi Gig Economy ETF 11.0 59 0 -0.7 -10.7
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 10.6 20 39 12.7 +2.6
FEM First Trust Emerging Markets AlphaDEX Fund 10.6 80 -21 14.5 +4.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 10.6 16 43 8.5 -1.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 10.5 40 19 9.0 -1.1
KBA KraneShares Bosera MSCI China A Share ETF 10.5 60 -1 8.8 -1.2
ASHX Xtrackers MSCI China A Inclusion Equity ETF 10.5 60 -1 8.8 -1.3
CNYA iShares MSCI China A ETF 10.5 65 -6 8.8 -1.3
BLCN Reality Shares Nasdaq NextGen Economy ETF 10.4 68 -9 6.0 -4.1
DWLD Davis Select Worldwide ETF 10.4 64 -5 8.5 -1.5
VEU Vanguard FTSE All-World ex-US Index Fund 10.1 8 51 9.4 -0.7
CWI SPDR MSCI ACWI ex-US ETF 10.1 30 29 9.1 -1.0
VSGX Vanguard ESG International Stock ETF 9.8 17 42 8.9 -1.2
IXUS ishares Core MSCI Total International Stock ETF 9.7 9 50 9.3 -0.8
PEK VanEck Vectors ChinaAMC CSI 300 ETF 9.4 60 -1 9.4 -0.6
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 9.4 65 -6 9.4 -0.7
MOTI VanEck Vectors Morningstar International Moat ETF 9.4 57 2 10.2 +0.2
VXUS Vanguard Total International Stock Index Fund 9.2 8 51 9.5 -0.6
ESPO VanEck Vectors Video Gaming & eSports ETF 9.2 55 4 3.6 -6.5
AIQ Global X Future Analytics Tech ETF 8.9 68 -9 5.7 -4.4
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 8.8 64 -5 7.7 -2.4
ACWF iShares FactorSelect MSCI Global ETF 8.5 35 24 9.9 -0.2
EBIZ Global X E-Commerce ETF 8.5 50 9 4.8 -5.3
XBUY Amplify International Online Retail ETF 8.4 69 -10 -0.5 -10.5

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 14.2 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.24 CATEGORY
AVERAGE		 1.45
 
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.