iShares MSCI Japan Small Cap
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
16.7x P/Sales
ratio
0.6x
P/BV
ratio
1.1x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Japan Small Cap Index Fund seeks investment results that correspond to the price and yield of the MSCI Japan Small Cap Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Dec 21, 2007
Assets (mns) $96
Currency USD
Expense ratio 47 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 972
Wgt avg mkt cap (mns) $1,614
Large cap (>$10bn) 0.1%
Mid cap ($2-10bn) 40.5%
Small cap (<$2bn) 59.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NIHON M&A CENTER INC 0.6 %
IT HOLDINGS CORP 0.6 %
GLP J-REIT 0.6 %
SOJITZ CORP 0.5 %
ADVANCE RESIDENCE INVESTMENT 0.5 %
TAIYO YUDEN CO LTD 0.5 %
COMSYS HOLDINGS CORP 0.5 %
HASEKO CORP 0.5 %
ACTIVIA PROPERTIES, INC. 0.5 %
YAMATAKE CORP 0.5 %
Total 5.2 %

TOP COUNTRY EXPOSURE
JAPAN 80.0 %










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.
19.2% 19.2% 10.1% 8.9% 5.9%

Market Correlations
versus... Beta R-squared
S&P500 0.80 67%
MSCI EAFE 0.90 70%
MSCI Emg. Mkts. 0.64 61%

Technical Indicators
Recent close $74.04
30d moving avg. $74.63
Annualized volatility 11.8%
Short interest (ETF) 0.5%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 26
Turnover 2.0%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $2,720

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SCJ Expense: 47 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SCJ
Ticker Fund
Name
Overlap1
vs SCJ
(%)
Expense
ratio
(bp)
Savings
vs SCJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs SCJ
(%)
DFJ WisdomTree Japan Small Cap Dividend 51.9 58 -11 7.8 +1.7
DXJS WisdomTree Japan Hedged Small 51.7 58 -11 7.7 +1.6
GWX SPDR International SmallCap 25.6 40 7 4.5 -1.6
SCZ iShares MSCI EAFE Small Cap 24.0 39 8 6.1 -0.0
PDN Invesco FTSE RAFI Developed Mkts ex-US Small-Mid Cap 23.8 49 -2 6.3 +0.2
FNDC Schwab Fundamental Intl Small Cap 23.1 39 8 4.4 -1.7
ISDS Invesco Strategic Developed ex-US Small Company 20.1 35 12 5.1 -1.0
DDLS WisdomTree Dynamic Currency Hedged Int'l SmallCap 19.5 43 4 8.1 +2.0
DLS WisdomTree Int'l SmallCap Dividend 17.0 58 -11 8.0 +1.9
DDJP WisdomTree Dynamic Currency Hedged Japan Equity 15.5 43 4 7.1 +1.0
AVDV Avantis International Small Cap Value 15.2 36 11 7.1 +1.0
SCHC Schwab Intl Small-Cap Equity 13.6 12 35 6.3 +0.2
FDTS First Trust Dev Mkts ex-US Small Cap Alpha 12.5 80 -33 8.7 +2.6
ISCF iShares FactorSelect MSCI Intl Small-Cap 12.4 40 7 7.0 +0.9
TLTD FlexShares Mngstr Developed Mkts ex-US Factor Tilt 11.4 39 8 8.2 +2.1
IDLB Invesco FTSE Int'l Low Beta Equal Weight 10.4 45 2 6.8 +0.7
VSS Vanguard FTSE All World ex-US Small Cap 10.3 12 35 6.2 +0.1
DXJ WisdomTree Japan Hedged Equity 9.1 48 -1 8.3 +2.2
IPAC iShares Core MSCI Pacific 8.2 9 38 7.2 +1.1
VPL Vanguard Pacific ETF 7.8 9 38 7.5 +1.4

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 Japan Small Cap
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 6.6 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 47 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.63
 
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.