iShares MSCI Eafe Small-Cap ETF
ALTAR
Score™
6.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
26.4x P/Sales
ratio
0.8x
P/BV
ratio
1.1x Div.
yield
2.4%


  • 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 10, 2007
Assets (mns) $9,629
Currency USD
Expense ratio 40 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 2328
Wgt avg mkt cap (mns) $2,293
Large cap (>$10bn) 0.1%
Mid cap ($2-10bn) 56.7%
Small cap (<$2bn) 41.0%
Developed mkts 98.9%
Emerging mkts 0.3%

TOP TEN HOLDINGS
HELLOFRESH SE 0.4 %
RIGHTMOVE PLC 0.3 %
ASM INTERNATIONAL N.V. 0.3 %
KESKO OYJ-B SHS 0.3 %
EURONEXT NV 0.3 %
IMCD N.V. 0.3 %
TECAN GROUP AG-REG 0.3 %
AMS AG 0.3 %
BECHTLE AG 0.3 %
B&M EUROPEAN VALUE RETAIL SA. 0.2 %
Total 2.9 %

TOP COUNTRY EXPOSURE
JAPAN 23.8 %
BRITAIN 12.4 %
AUSTRALIA 7.9 %
SWEDEN 5.1 %
GERMANY 4.7 %
SWITZERLAND 4.3 %
NETHERLANDS 2.6 %
ITALY 2.4 %
FRANCE 2.0 %
ISRAEL 1.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.3% 6.2% 7.1% 7.4% 3.8%

Market Correlations
versus... Beta R-squared
S&P500 0.96 84%
MSCI EAFE 1.13 94%
MSCI Emg. Mkts. 0.81 77%

Technical Indicators
Recent close $59.81
30d moving avg. $59.42
Annualized volatility 18.7%
Short interest (ETF) 2.2%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 1,362
Turnover 0.9%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $9,552

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares MSCI Eafe Small-Cap ETF 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: 40 bp ALTAR Score™: 6.9%


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 ETF 45.5 40 0 7.6 +0.7
SCHC Schwab International Small-Cap Equity ETF 44.1 11 29 6.9 +0.0
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 42.2 49 -9 6.3 -0.6
FNDC Schwab Fundamental International Small Co. Index ETF 39.0 39 1 7.2 +0.2
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 38.9 11 29 6.6 -0.4
GWX SPDR S&P International Small Cap ETF 30.3 40 0 7.5 +0.6
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 26.7 43 -3 8.5 +1.6
DLS WisdomTree International SmallCap Dividend Fund 24.6 58 -18 8.3 +1.4
SCJ iShares MSCI Japan Small-Cap ETF 23.8 49 -9 6.2 -0.8
AVDV Avantis International Small Cap Value ETF 19.6 36 4 7.8 +0.9
AVDE Avantis International Equity ETF 19.1 23 17 7.7 +0.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 18.6 39 1 8.4 +1.5
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 17.7 58 -18 8.0 +1.1
DFJ WisdomTree Japan SmallCap Dividend Fund 17.7 58 -18 8.0 +1.1
SCID Global X Scientific Beta Europe ETF 16.4 39 1 0.0 -6.9
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 16.1 40 0 8.6 +1.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 14.4 39 1 6.6 -0.4
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 14.3 24 16 6.9 0.0
EWUS iShares MSCI United Kingdom Small Cap ETF 14.1 59 -19 8.6 +1.6
IDLB Invesco FTSE International Low Beta Equal Weight ETF 14.1 45 -5 6.5 -0.4
IEFA iShares Core MSCI EAFE ETF 12.8 7 33 7.3 +0.4
IPAC iShares Core MSCI Pacific ETF 11.8 9 31 7.2 +0.3
IEUR iShares Core MSCI Europe ETF 11.3 9 31 7.3 +0.4
IDEV iShares Core MSCI International Developed Markets ETF 11.3 5 35 7.2 +0.3
VPL Vanguard FTSE Pacific ETF 11.0 8 32 7.4 +0.5
VGK Vanguard FTSE Europe ETF 10.4 8 32 7.5 +0.6
DIM WisdomTree International MidCap Dividend Fund 10.3 58 -18 7.6 +0.7
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 10.0 58 -18 8.0 +1.1
FEP First Trust Europe AlphaDEX Fund 10.0 80 -40 7.2 +0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 9.9 29 11 7.8 +0.8
VEA Vanguard FTSE Developed Markets ETF 9.8 5 35 7.4 +0.5
FEU SPDR Portfolio Europe ETF 9.5 9 31 7.4 +0.5
FDT First Trust Developed Markets ex-US Alphadex Fund 8.9 80 -40 7.3 +0.4
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 8.7 10 30 9.3 +2.4
WPS iShares International Developed Property ETF 8.5 48 -8 8.1 +1.1
IXUS ishares Core MSCI Total International Stock ETF 8.4 9 31 7.3 +0.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 8.4 45 -5 6.8 -0.2
VNQI Vanguard Global ex-US Real Estate Index Fund 8.4 12 28 10.3 +3.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 7.9 80 -40 10.0 +3.0
SPDW SPDR Portfolio Developed World ex-US ETF 7.8 4 36 7.1 +0.2
DFE WisdomTree Europe SmallCap Dividend Fund 7.8 58 -18 8.3 +1.4
FLJH Franklin FTSE Japan Hedged ETF 7.5 9 31 7.3 +0.3
FLJP Franklin FTSE Japan ETF 7.4 9 31 7.4 +0.5
DWM WisdomTree International Equity Fund 7.2 48 -8 8.5 +1.6
JPIN JPMorgan Diversified Return International Equity ETF 7.1 37 3 7.9 +0.9
VSGX Vanguard ESG International Stock ETF 7.0 17 23 7.1 +0.1
IFGL iShares International Developed Real Estate ETF 6.9 48 -8 7.9 +0.9
VXUS Vanguard Total International Stock Index Fund 6.8 8 32 7.5 +0.6
DXJ WisdomTree Japan Hedged Equity Fund 6.8 48 -8 7.9 +1.0
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 6.7 60 -20 7.3 +0.4
DTH WisdomTree DEFA Equity Income Fund 5.9 58 -18 10.1 +3.2
SMEZ SPDR EURO STOXX Small Cap ETF 5.7 45 -5 6.4 -0.5
PDEV Principal International Multi-Factor Core Index ETF 5.7 25 15 7.9 +1.0
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 5.6 35 5 8.7 +1.8
DRW WisdomTree Global ex-US Real Estate Fund 5.6 58 -18 11.0 +4.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 5.6 58 -18 6.0 -1.0
IQDG WisdomTree International Quality Dividend Growth Fund 5.5 42 -2 6.2 -0.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 5.4 58 -18 6.0 -0.9
FEUZ First Trust Eurozone AlphaDEX ETF 5.2 80 -40 7.3 +0.4
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 5.2 9 31 7.5 +0.5
VIGI Vanguard International Dividend Appreciation ETF 5.1 20 20 5.5 -1.4
RWO SPDR Dow Jones Global Real Estate ETF 5.1 50 -10 7.2 +0.3
RWX SPDR Dow Jones International Real Estate ETF 5.1 59 -19 7.1 +0.2
EWGS iShares MSCI Germany Small Cap ETF 5.1 59 -19 4.9 -2.0
JPXN iShares JPX-Nikkei 400 ETF 5.1 48 -8 7.0 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 5.0 7 33 7.5 +0.6
RNDM Developed International Equity Select ETF 5.0 65 -25 6.2 -0.7
KLDW Gavekal Knowledge Leaders Developed World ETF 4.8 75 -35 5.0 -2.0
IGRO iShares International Dividend Growth ETF 4.8 22 18 8.4 +1.5
ISDX Invesco Strategic Developed ex-US ETF 4.7 23 17 7.4 +0.5
SCHF Schwab International Equity ETF 4.7 6 34 7.3 +0.4
REET iShares Global REIT ETF 4.6 14 26 7.6 +0.7
FNDF Schwab Fundamental International Large Co. Index ETF 4.3 25 15 8.8 +1.9
FLGB Franklin FTSE United Kingdom ETF 4.3 9 31 8.0 +1.1
FLAU Franklin FTSE Australia ETF 4.3 9 31 6.7 -0.3
PIZ Invesco DWA Developed Markets Momentum ETF 4.2 81 -41 4.5 -2.4
IFEU iShares Europe Development Real Estate ETF 4.2 48 -8 0.0 -6.9
IQIN IQ 500 International ETF 4.0 25 15 8.7 +1.8
FDEV Fidelity Targeted International Factor ETF 3.9 39 1 6.5 -0.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 3.8 45 -5 9.0 +2.1
VIDI Vident International Equity Fund 3.6 59 -19 11.4 +4.5
FLEE Franklin FTSE Europe ETF 3.5 9 31 7.1 +0.2
FLEH Franklin FTSE Europe Hedged ETF 3.5 9 31 7.1 +0.2
FKU First Trust United Kingdom AlphaDEX Fund 3.5 80 -40 8.2 +1.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.4 58 -18 7.8 +0.9
QINT American Century Quality Diversified International ETF 3.4 39 1 6.1 -0.8
VEU Vanguard FTSE All-World ex-US Index Fund 3.3 8 32 7.5 +0.6
OEUR O'shares FTSE Europe Quality Dividend ETF 3.3 48 -8 6.8 -0.1
GQRE FlexShares Global Quality Real Estate Index Fund 3.1 45 -5 6.6 -0.3
IDMO Invesco S&P International Developed Momentum ETF 3.1 26 14 4.0 -2.9
VT Vanguard Total World Stock Index Fund 3.0 8 32 6.0 -1.0
FPXE First Trust IPOX Europe Equity Opportunities ETF 3.0 70 -30 2.3 -4.6
SCIX Global X Scientific Beta Asia ex-Japan ETF 2.9 38 2 0.0 -6.9
RFDI First Trust Riverfront Dynamic Developed International ETF 2.9 83 -43 5.7 -1.2
EURZ Xtrackers Eurozone Equity ETF 2.7 9 31 7.1 +0.2
GRES IQ Global Resources ETF 2.6 78 -38 7.3 +0.4
VYMI Vanguard International High Dividend Yield ETF 2.6 27 13 10.2 +3.3
IDLV Invesco S&P International Developed Low Volatility ETF 2.5 25 15 6.5 -0.4

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

  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 Eafe Small-Cap ETF
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 8.0 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.57
 
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.