iShares MSCI China ETF
ALTAR
Score™		 7.5% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 15.0x P/Sales
ratio		 1.4x
P/BV
ratio		 1.9x Div.
yield		 2.0%


  • 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) $5,944
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 603
Wgt avg mkt cap (mns) $230,674
Large cap (>$10bn) 84.8%
Mid cap ($2-10bn) 14.1%
Small cap (<$2bn) 0.5%
Developed mkts 22.2%
Emerging mkts 77.8%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 16.9 %
TENCENT HOLDINGS LTD 15.6 %
MEITUAN DIANPING 3.6 %
CHINA CONSTRUCTION BANK-H 3.1 %
PING AN INSURANCE GROUP CO-H 2.5 %
JD.COM INC-ADR 2.1 %
CHINA MOBILE LIMITED 1.8 %
IND & COMM BK OF CHINA - H 1.5 %
NETEASE.COM INC-ADR 1.4 %
BAIDU INC - SPON ADR 1.4 %
Total 49.9 %

TOP COUNTRY EXPOSURE
CHINA 86.9 %
HONG KONG 11.2 %
SINGAPORE 0.0 %








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.
2.5% 11.5% 4.8% -- 4.4%

Market Correlations
versus... Beta R-squared
S&P500 0.85 45%
MSCI EAFE 0.94 48%
MSCI Emg. Mkts. 0.88 67%

Technical Indicators
Recent close $73.20
30d moving avg. $64.34
Annualized volatility 21.4%
Short interest (ETF) 6.0%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 3,986
Turnover 4.9%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $48,346

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™: 7.5%


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 92.4 19 40 7.9 +0.5
GXC SPDR S&P China ETF 86.5 59 0 7.7 +0.3
BKF iShares MSCI BRIC ETF 70.9 69 -10 7.3 -0.2
KALL KraneShares FTSE Emerging Markets Plus ETF 66.9 49 10 7.8 +0.3
WCHN WisdomTree ICBCCS S&P China 500 Fund 65.0 55 4 8.7 +1.2
CN Xtrackers MSCI All China Equity ETF 60.4 50 9 7.7 +0.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 59.2 32 27 6.0 -1.5
CHIL Global X MSCI China Large-Cap 50 ETF 53.4 29 30 7.9 +0.5
EEMA iShares MSCI Emerging Markets Asia ETF 49.7 50 9 7.5 +0.0
GMF SPDR S&P Emerging Asia Pacific ETF 49.0 49 10 7.2 -0.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 46.0 68 -9 7.0 -0.5
FLAX Franklin FTSE Asia Ex Japan ETF 44.2 19 40 7.7 +0.2
SCHE Schwab Emerging Markets Equity ETF 43.8 11 48 7.8 +0.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 41.5 15 44 8.6 +1.2
EEM iShares MSCI Emerging Markets ETF 40.9 68 -9 7.4 -0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 40.8 65 -6 7.4 -0.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 40.6 30 29 7.8 +0.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 39.7 20 39 6.8 -0.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 39.0 36 23 8.1 +0.7
VWO Vanguard FTSE Emerging Markets ETF 37.9 10 49 8.0 +0.6
SPEM SPDR Portfolio Emerging Markets ETF 37.5 11 48 7.8 +0.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 37.1 32 27 6.1 -1.3
IEMG iShares Core MSCI Emerging Markets ETF 36.9 13 46 7.9 +0.4
BKEM BNY Mellon Emerging Markets Equity ETF 35.8 11 48 8.4 +0.9
FXI iShares China Large-Cap ETF 35.7 74 -15 11.8 +4.3
ESGE iShares ESG MSCI EM ETF 34.2 25 34 8.6 +1.2
JHEM John Hancock Multifactor Emerging Markets ETF 33.6 49 10 8.3 +0.9
AIA iShares Asia 50 ETF 33.3 50 9 7.9 +0.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 33.1 95 -36 9.1 +1.7
KWEB KraneShares CSI China Internet ETF 32.8 76 -17 1.7 -5.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 32.4 45 14 7.9 +0.4
JOYY Infusive Compounding Global Equities ETF 31.8 50 9 3.7 -3.7
PXH Invesco FTSE RAFI Emerging Markets ETF 30.7 50 9 12.8 +5.3
FDNI First Trust Dow Jones International Internet ETF 29.9 65 -6 2.2 -5.3
AVEM Avantis Emerging Markets Equity ETF 29.4 33 26 8.9 +1.4
NUEM Nuveen ESG Emerging Markets Equity ETF 29.2 45 14 7.2 -0.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 28.8 30 29 8.6 +1.2
ISEM Invesco Strategic Emerging Markets ETF 28.7 35 24 10.0 +2.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 28.5 86 -27 2.1 -5.3
ECON Columbia Emerging Markets Consumer ETF 27.4 59 0 4.4 -3.0
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 26.9 18 41 5.6 -1.8
TTTN UP Fintech China-U.S. Internet Titans ETF 26.4 59 0 4.1 -3.3
DVEM WisdomTree Emerging Markets Dividend Fund 26.1 32 27 8.2 +0.7
EMCG WisdomTree Emerging Markets Consumer Growth Fund 25.3 32 27 7.5 +0.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 22.9 39 20 12.5 +5.1
CHIQ Global X China Consumer ETF 22.4 65 -6 7.2 -0.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 22.3 40 19 7.1 -0.3
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 21.6 25 34 7.6 +0.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 21.5 59 0 10.9 +3.5
CQQQ Invesco China Technology ETF 20.4 70 -11 3.7 -3.8
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 20.3 32 27 8.8 +1.4
BICK First Trust BICK Index Fund 20.2 64 -5 4.7 -2.8
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 19.9 45 14 9.1 +1.6
FNI First Trust Chindia ETF 19.2 60 -1 2.7 -4.7
PGJ Invesco Golden Dragon China ETF 18.6 70 -11 3.1 -4.4
GBUY Goldman Sachs Motif New Age Consumer ETF 18.0 50 9 1.9 -5.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 17.7 49 10 8.6 +1.2
EMMF WisdomTree Emerging Markets Multifactor Fund 17.6 48 11 9.3 +1.9
OGIG O'Shares Global Internet Giants ETF 17.4 48 11 0.7 -6.8
CHIC Global X Nasdaq China Technology ETF 16.8 66 -7 3.6 -3.9
EEMO Invesco S&P Emerging Markets Momentum ETF 15.9 29 30 6.6 -0.8
CHIX Global X China Financials ETF 15.5 66 -7 15.7 +8.2
AXJL WisdomTree Asia Pacific ex-Japan Fund 15.5 48 11 9.7 +2.3
DEM WisdomTree Emerging Markets High Dividend Fund 15.2 63 -4 13.6 +6.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 15.1 44 15 8.8 +1.4
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 14.9 64 -5 4.7 -2.8
DINT Davis Select International ETF 14.7 68 -9 5.7 -1.8
ONLN ProShares Online Retail ETF 14.4 58 1 1.3 -6.1
PNQI Invesco NASDAQ Internet ETF 14.4 62 -3 1.1 -6.4
PIE Invesco DWA Emerging Markets Momentum ETF 14.3 90 -31 5.1 -2.3
ROAM Hartford Multifactor Emerging Markets ETF 14.1 44 15 14.4 +6.9
PEK VanEck Vectors ChinaAMC CSI 300 ETF 14.0 60 -1 7.0 -0.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 14.0 50 9 10.1 +2.6
FDEM Fidelity Targeted Emerging Markets Factor ETF 14.0 45 14 9.4 +1.9
FCA First Trust China AlphaDEX Fund 13.7 80 -21 13.3 +5.9
SOCL Global X Social Media ETF 13.0 65 -6 1.9 -5.5
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.0 45 14 13.2 +5.7
RNEM Emerging Markets Equity Select ETF 12.6 75 -16 10.2 +2.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 12.5 80 -21 3.8 -3.6
DWLD Davis Select Worldwide ETF 12.4 63 -4 6.4 -1.1
GIGE SoFi Gig Economy ETF 12.1 59 0 -0.5 -8.0
ACWX iShares MSCI ACWI ex U.S. ETF 12.0 32 27 7.2 -0.3
BUYZ Franklin Disruptive Commerce ETF 11.9 50 9 -0.2 -7.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 11.7 16 43 6.9 -0.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 11.6 40 19 7.0 -0.5
ASHX Xtrackers MSCI China A Inclusion Equity ETF 11.6 60 -1 6.6 -0.9
KBA KraneShares Bosera MSCI China A Share ETF 11.6 60 -1 6.5 -0.9
CNYA iShares MSCI China A ETF 11.5 60 -1 6.5 -0.9
FPXI First Trust International Equity Opportunities ETF 11.5 70 -11 3.2 -4.2
AIQ Global X Future Analytics Tech ETF 11.5 68 -9 3.8 -3.6
CWI SPDR MSCI ACWI ex-US ETF 11.4 30 29 7.1 -0.3
IXP iShares Global Comm Services ETF 10.6 46 13 5.6 -1.8
ESPO VanEck Vectors Video Gaming & eSports ETF 10.5 55 4 2.7 -4.8
IXUS ishares Core MSCI Total International Stock ETF 10.5 9 50 7.3 -0.1
GENY Principal Millennials Index ETF 10.4 45 14 3.7 -3.7
VEU Vanguard FTSE All-World ex-US Index Fund 10.3 8 51 7.5 +0.1
VSGX Vanguard ESG International Stock ETF 10.3 17 42 7.2 -0.3
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 10.3 20 39 10.9 +3.5
EELV Invesco S&P Emerging Markets Low Volatility ETF 10.1 29 30 9.6 +2.2
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 9.8 65 -6 6.8 -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

  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 1.8 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.22 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.