iShares MSCI Global Gold Miners ETF
ALTAR
Score™
4.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
15.2x P/Sales
ratio
2.2x
P/BV
ratio
1.3x Div.
yield
1.7%


  • 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) $328
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 35
Wgt avg mkt cap (mns) $19,140
Large cap (>$10bn) 55.4%
Mid cap ($2-10bn) 28.3%
Small cap (<$2bn) 16.3%
Developed mkts 84.7%
Emerging mkts 15.4%

TOP TEN HOLDINGS
NEWMONT MINING CORP 23.4 %
BARRICK GOLD CORP 20.8 %
NEWCREST MINING LIMITED 5.9 %
ANGLOGOLD ASHANTI LTD 4.7 %
AGNICO-EAGLE MINES LTD 4.5 %
KIRKLAND LAKE GOLD LTD. 4.5 %
KINROSS GOLD CORP 4.3 %
GOLD FIELDS LTD 3.3 %
B2GOLD CORP 2.5 %
POLYMETAL INTERNATIONAL PLC 2.4 %
Total 76.3 %

TOP COUNTRY EXPOSURE
CANADA 49.0 %
UNITED STATES 24.3 %
SOUTH AFRICA 11.1 %
AUSTRALIA 7.7 %
RUSSIA 2.4 %
BRITAIN 2.4 %
PERU 1.0 %
TURKEY 0.6 %



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.
-20.4% 10.2% 6.2% -- -10.4%

Market Correlations
versus... Beta R-squared
S&P500 0.35 4%
MSCI EAFE 0.59 12%
MSCI Emg. Mkts. 0.58 17%

Technical Indicators
Recent close $22.12
30d moving avg. $21.20
Annualized volatility 25.9%
Short interest (ETF) 1.1%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 747
Turnover 5.0%
Bid/Ask (% of price) 0.53%
ADV underlying (mns) $1,442

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares MSCI Global Gold Miners ETF 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™: 4.6%


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 ETF 51.0 50 -11 3.1 -1.6
GDX VanEck Vectors Gold Miners ETF 31.0 52 -13 3.9 -0.7
NANR SPDR S&P North American Natural Resources ETF 28.4 35 4 4.8 +0.2
GOEX Global X Gold Explorers ETF 19.7 65 -26 4.7 +0.1
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 17.7 60 -21 4.1 -0.6
SLVP iShares MSCI Global Silver Miners ETF 16.1 39 0 2.5 -2.1
GDXJ VanEck Vectors Junior Gold Miners ETF 11.3 53 -14 4.5 -0.2
XME SPDR S&P Metals & Mining ETF 10.7 35 4 11.7 +7.1
FLZA Franklin FTSE South Africa ETF 10.1 19 20 14.4 +9.7
EZA iShares MSCI South Africa ETF 9.5 59 -20 12.1 +7.5
SGDJ ALPS Sprott Junior Gold Miners ETF 8.9 50 -11 4.1 -0.6
IYM iShares U.S. Basic Materials ETF 8.9 42 -3 7.4 +2.8
GUNR Flexshares Morningstar Global Upstream Natural Resources 8.3 46 -7 7.6 +2.9
MXI iShares Global Materials ETF 7.8 46 -7 8.0 +3.3
XLB Materials Select Sector SPDR Fund 7.7 13 26 7.6 +2.9
GRES IQ Global Resources ETF 6.5 77 -38 8.9 +4.2
URA Global X Uranium ETF 6.5 69 -30 5.3 +0.6
VAW Vanguard Materials Index Fund 6.4 10 29 8.0 +3.4
ABEQ Absolute Core Strategy ETF 6.3 85 -46 5.5 +0.9
FMAT Fidelity MSCI Materials Index ETF 6.3 8 31 8.0 +3.4
RTM Invesco S&P 500 Equal Weight Materials ETF 5.9 40 -1 7.9 +3.2
EWC iShares MSCI Canada ETF 5.7 49 -10 8.5 +3.8
FXZ First Trust Materials AlphaDEX Fund 5.6 65 -26 9.8 +5.2
SIL Global X Silver Miners ETF 5.6 65 -26 3.4 -1.2
BBCA JPMorgan BetaBuilders Canada ETF 5.5 19 20 8.7 +4.0
GNR SPDR S&P Global Natural Resources ETF 5.1 40 -1 8.3 +3.6
FCAN First Trust Canada AlphaDex Fund 5.1 80 -41 7.5 +2.8
JHMA John Hancock Multifactor Materials ETF 5.0 40 -1 8.9 +4.3
QCAN SPDR MSCI Canada Quality Mix ETF 4.9 14 25 8.6 +4.0
FLCA Franklin FTSE Canada ETF 4.6 9 30 8.9 +4.3
SILJ ETFMG Prime Junior Silver ETF 4.4 69 -30 0.7 -4.0
IGE iShares North American Natural Resources ETF 4.2 46 -7 5.7 +1.0
VSL Volshares Large Capital ETF 3.9 65 -26 15.5 +10.9
PYZ Invesco DWA Basic Materials Momentum ETF 3.9 60 -21 8.3 +3.6
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 3.8 64 -25 7.6 +2.9
SFYF SoFi 50 ETF 3.4 29 10 8.0 +3.4
AVDV Avantis International Small Cap Value ETF 3.3 36 3 11.6 +7.0
AIIQ AI Powered International Equity ETF 3.2 79 -40 5.8 +1.1
ACWV iShares Edge MSCI Min Vol Global ETF 2.9 20 19 6.5 +1.9
FTCS First Trust Capital Strength ETF 2.8 60 -21 5.8 +1.1
HAP VanEck Vectors Natural Resources ETF 2.8 50 -11 8.1 +3.4
SCHC Schwab International Small-Cap Equity ETF 2.8 12 27 9.1 +4.5
VOE Vanguard Mid-Cap Value Index Fund 2.7 7 32 10.2 +5.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 2.7 32 7 7.4 +2.7
EEMO Invesco S&P Emerging Markets Momentum ETF 2.5 30 9 11.9 +7.3
RSX VanEck Vectors Russia ETF 2.4 65 -26 15.8 +11.1
FVL First Trust Value Line 100 Exchange-Traded Fund 2.3 70 -31 5.2 +0.6
RBUS Nationwide Risk-Based U.S. Equity ETF 2.3 30 9 6.8 +2.2
USMV iShares Edge MSCI Min Vol USA ETF 2.3 15 24 6.5 +1.9
MXDU Nationwide Maximum Diversification US Core Equity ETF 2.2 34 5 6.4 +1.8
SDGA Impact Shares Sustainable Development Goals Global ETF 2.2 75 -36 6.6 +2.0
SPMV Invesco S&P 500 Minimum Variance ETF 2.2 10 29 7.0 +2.3
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 2.0 11 28 8.8 +4.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.0 80 -41 14.3 +9.7
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 1.8 40 -1 10.4 +5.8
IDMO Invesco S&P International Developed Momentum ETF 1.8 25 14 5.6 +0.9
SPVU Invesco S&P 500 Enhanced Value ETF 1.7 13 26 14.9 +10.3
VFMV Vanguard U.S. Minimum Volatility ETF 1.7 13 26 5.7 +1.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 1.7 45 -6 11.4 +6.8
EWA iShares MSCI Australia ETF 1.6 50 -11 7.6 +2.9
INTF iShares Edge MSCI Multifactor Intl ETF 1.6 30 9 10.0 +5.3
FTA First Trust Large Cap Value AlphaDEX Fund 1.6 60 -21 11.5 +6.8
FLAU Franklin FTSE Australia ETF 1.5 9 30 8.0 +3.4
ISDX Invesco Strategic Developed ex-US ETF 1.5 23 16 9.6 +5.0
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 1.4 80 -41 17.9 +13.3
EGPT VanEck Vectors Egypt Index ETF 1.4 98 -59 13.8 +9.1
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 1.4 60 -21 8.4 +3.8
SCIX Global X Scientific Beta Asia ex-Japan ETF 1.3 38 1 7.7 +3.1
QWLD SPDR MSCI World StrategicFactors ETF 1.3 30 9 7.1 +2.5
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 1.3 49 -10 7.1 +2.5
PEXL Pacer US Export Leaders ETF 1.3 60 -21 8.4 +3.8
DOGS Arrow Dogs of the World ETF 1.3 134 -95 13.6 +9.0
AGT iShares MSCI Argentina & Global Exposure ETF A 1.3 59 -20 9.8 +5.1
ARGT Global X MSCI Argentina ETF 1.3 59 -20 9.7 +5.1
PVAL Principal Contrarian Value Index ETF 1.2 29 10 9.9 +5.3
IWS iShares Russell Mid-Cap Value ETF 1.2 24 15 9.4 +4.7
VO Vanguard Mid-Cap Index Fund 1.2 4 35 7.2 +2.5
BIBL Inspire ETF 1.2 35 4 5.8 +1.2
AVDE Avantis International Equity ETF 1.2 23 16 9.9 +5.3
IDHQ Invesco S&P International Developed High Quality ETF 1.1 29 10 6.4 +1.8
ISDS Invesco Strategic Developed ex-US Small Company ETF 1.1 35 4 7.6 +3.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 49 -10 10.7 +6.1
GWX SPDR S&P International Small Cap ETF 1.1 40 -1 7.9 +3.2
XCEM Columbia EM Core ex-China ETF 1.1 16 23 9.4 +4.7
VRAI Virtus Real Asset Income ETF 1.0 55 -16 14.6 +10.0
PACA Xtrackers MSCI Latin America Pacific Alliance ETF 1.0 45 -6 10.0 +5.3
EPU iShares MSCI All Peru Capped ETF 1.0 59 -20 8.3 +3.7
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 1.0 20 19 9.8 +5.2
MVIN Natixis Seeyond International Minimum Volatility ETF 1.0 55 -16 7.2 +2.5
FAUS First Trust Australia AlphaDEX Fund 1.0 80 -41 9.9 +5.2
AFK VanEck Vectors Africa Index ETF 1.0 78 -39 4.4 -0.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.0 49 -10 8.9 +4.3
ACWF iShares FactorSelect MSCI Global ETF 0.9 35 4 9.6 +5.0
RPV Invesco S&P 500 Pure Value ETF 0.9 35 4 16.1 +11.5
KRMA Global X Conscious Companies ETF 0.9 43 -4 7.0 +2.3
NULV Nuveen ESG Large-Cap Value ETF 0.9 35 4 8.9 +4.2
EPP iShares MSCI Pacific ex-Japan ETF 0.9 48 -9 7.9 +3.2
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 0.9 19 20 8.1 +3.5
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.9 80 -41 11.1 +6.5
AUSF Global X Adaptive U.S. Factor ETF 0.9 27 12 9.9 +5.3

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 Global Gold Miners 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 6.5 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 4.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.49
 
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.