iShares MSCI Global Gold Miners
ALTAR
Score™
2.7% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
24.0x P/Sales
ratio
2.1x
P/BV
ratio
1.6x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Global Gold Miners Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI ACWI Select Gold Miners Investable Market Index.

FUND BASICS
Category Global Equities
Fund Sponsor BlackRock Funds/USA
Website www.ishares.com
Inception date Feb 02, 2012
Assets (mns) $298
Currency USD
Expense ratio 39 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 38
Wgt avg mkt cap (mns) $12,334
Large cap (>$10bn) 49.2%
Mid cap ($2-10bn) 34.7%
Small cap (<$2bn) 16.1%
Developed mkts 81.8%
Emerging mkts 18.2%

TOP TEN HOLDINGS
NEWMONT MINING CORP 19.1 %
BARRICK GOLD CORP 17.2 %
NEWCREST MINING LIMITED 8.7 %
ANGLOGOLD ASHANTI LTD 4.5 %
AGNICO-EAGLE MINES LTD 4.2 %
KIRKLAND LAKE GOLD LTD. 3.9 %
SIBANYE GOLD LTD 3.8 %
KINROSS GOLD CORP 3.7 %
GOLD FIELDS LTD 3.4 %
DETOUR GOLD CORP 2.5 %
Total 70.8 %

TOP COUNTRY EXPOSURE
CANADA 47.8 %
UNITED STATES 20.5 %
SOUTH AFRICA 13.0 %
AUSTRALIA 11.0 %
BRITAIN 2.5 %
RUSSIA 2.1 %
PERU 1.8 %
TURKEY 0.7 %



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.
49.8% 49.8% 11.0% -- -8.1%

Market Correlations
versus... Beta R-squared
S&P500 -0.05 0%
MSCI EAFE 0.38 3%
MSCI Emg. Mkts. 0.53 9%

Technical Indicators
Recent close $23.58
30d moving avg. $23.06
Annualized volatility 25.7%
Short interest (ETF) 0.3%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 139
Turnover 1.1%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $809

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: RING Expense: 39 bp ALTAR Score™: 2.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RING
Ticker Fund
Name
Overlap1
vs RING
(%)
Expense
ratio
(bp)
Savings
vs RING
(bp)
ALTAR
Score™
(%)
ALTAR
vs RING
(%)
SGDM Sprott Gold Miners 51.6 50 -11 2.7 -0.0
GDX VanEck Vectors Gold Miners ETF 31.8 52 -13 2.4 -0.3
GOEX Global X Gold Explorers 21.8 65 -26 2.2 -0.5
NANR SPDR S&P N. American Nat. Resources 19.9 35 4 3.8 +1.1
GDXJ VanEck Vectors Jr. Gold Miners 16.1 53 -14 2.3 -0.4
GOAU U.S. Global GO GOLD and Precious Metal Miners 13.9 60 -21 1.7 -1.0
SGDJ ALPS Sprott Junior Gold Miners 9.6 50 -11 2.5 -0.2
SLVP iShares MSCI Global Silver Miners 8.4 39 0 0.6 -2.1
GUNR Flexshares Global Upstream Natural Resources 7.3 46 -7 5.6 +2.9
FLZA Franklin FTSE South Africa 7.0 19 20 9.1 +6.4
SIL Global X Silver Miners ETF 6.9 65 -26 1.6 -1.1
XME SPDR Metals & Mining ETF 6.3 35 4 -0.1 -2.8
EZA iShares MSCI South Africa 6.2 59 -20 8.6 +5.9
URA Global X Uranium 5.8 69 -30 1.4 -1.3
MXI iShares S&P Global Materials 5.8 46 -7 6.6 +3.9
IYM iShares DJ US Basic Material 5.6 42 -3 8.4 +5.7
SILJ ETFMG Prime Junior Silver 5.4 69 -30 -1.0 -3.7
GRES Index IQ Global Resources 4.8 77 -38 5.6 +2.9
PYZ Invesco Dynamic Basic Materials Sector 4.7 60 -21 5.1 +2.5
XLB Materials Select Sector SPDR 4.6 13 26 9.1 +6.4

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

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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 Global Gold Miners
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 4.6 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 2.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.54
 
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.