iShares MSCI EAFE Small Cap
ALTAR
Score™
6.2% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
16.8x P/Sales
ratio
0.8x
P/BV
ratio
1.3x Div.
yield
2.8%


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

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Dec 12, 2007
Assets (mns) $9,905
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 Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 2339
Wgt avg mkt cap (mns) $2,410
Large cap (>$10bn) 0.5%
Mid cap ($2-10bn) 57.1%
Small cap (<$2bn) 42.3%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
GALAPAGOS NV 0.3 %
RIGHTMOVE PLC 0.3 %
LEG IMMOBILIEN AG 0.3 %
LOGITECH INTERNATIONAL-REG 0.3 %
DS SMITH PLC 0.3 %
SVENSKA CELLULOSA AB-B SHS 0.3 %
SCOUT24 AG 0.3 %
ORIX JREIT INC 0.2 %
INTERXION HOLDING NV 0.2 %
GN STORE NORD A/S 0.2 %
Total 2.7 %

TOP COUNTRY EXPOSURE
JAPAN 26.2 %
BRITAIN 14.2 %
AUSTRALIA 6.7 %
GERMANY 4.8 %
SWEDEN 4.5 %
SWITZERLAND 4.0 %
ITALY 3.1 %
NETHERLANDS 2.9 %
FRANCE 2.6 %
BELGIUM 2.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
16.8% 9.1% 6.9% 8.3% 4.0%

Market Correlations
versus... Beta R-squared
S&P500 0.81 65%
MSCI EAFE 1.04 91%
MSCI Emg. Mkts. 0.75 79%

Technical Indicators
Recent close $60.47
30d moving avg. $58.65
Annualized volatility 12.1%
Short interest (ETF) 1.3%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 893
Turnover 0.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $9,260

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SCZ Expense: 39 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SCZ
Ticker Fund
Name
Overlap1
vs SCZ
(%)
Expense
ratio
(bp)
Savings
vs SCZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs SCZ
(%)
IEUS iShares MSCI Europe Small Cap 47.3 40 -1 6.2 +0.1
PDN Invesco FTSE RAFI Developed Mkts ex-US Small-Mid Cap 45.1 49 -10 6.6 +0.5
SCHC Schwab Intl Small-Cap Equity 44.6 12 27 6.6 +0.4
FNDC Schwab Fundamental Intl Small Cap 41.1 39 0 4.6 -1.5
VSS Vanguard FTSE All World ex-US Small Cap 39.3 12 27 6.7 +0.5
GWX SPDR International SmallCap 33.1 40 -1 4.8 -1.3
DDLS WisdomTree Dynamic Currency Hedged Int'l SmallCap 29.5 43 -4 8.5 +2.4
ISDS Invesco Strategic Developed ex-US Small Company 28.6 35 4 5.2 -0.9
DLS WisdomTree Int'l SmallCap Dividend 27.0 58 -19 8.4 +2.2
SCJ iShares MSCI Japan Small Cap 26.1 47 -8 6.3 +0.1
DFJ WisdomTree Japan Small Cap Dividend 18.8 58 -19 8.0 +1.8
DXJS WisdomTree Japan Hedged Small 18.8 58 -19 8.0 +1.8
TLTD FlexShares Mngstr Developed Mkts ex-US Factor Tilt 18.2 39 0 8.4 +2.2
ISCF iShares FactorSelect MSCI Intl Small-Cap 15.9 40 -1 7.1 +0.9
IDLB Invesco FTSE Int'l Low Beta Equal Weight 15.3 45 -6 7.0 +0.8
SCID Global X Scientific Beta Europe 15.3 38 1 6.5 +0.3
EWUS iShares MSCI United Kingdom Small Cap 15.2 59 -20 7.8 +1.6
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 13.5 58 -19 7.4 +1.2
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 13.5 24 15 7.1 +0.9
IEFA iShares Core MSCI EAFE 12.6 7 32 7.1 +0.9

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 EAFE 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 8.3 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 6.2 %
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.