iShares MSCI Global Silver Miners
ALTAR
Score™
0.5% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
95.5x P/Sales
ratio
2.7x
P/BV
ratio
1.6x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Global Silver 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 Silver 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) $98
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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 34
Wgt avg mkt cap (mns) $4,053
Large cap (>$10bn) 23.2%
Mid cap ($2-10bn) 28.1%
Small cap (<$2bn) 48.6%
Developed mkts 83.0%
Emerging mkts 17.0%

TOP TEN HOLDINGS
SILVER WHEATON CORP 23.2 %
PAN AMERICAN SILVER CORP 8.8 %
CIA DE MINAS BUENAVENTUR-ADR 7.9 %
FIRST MAJESTIC SILVER CORP 4.6 %
COEUR D'ALENE MINES CORP 4.2 %
SSR MINING INC 4.1 %
ELDORADO GOLD CORP 3.9 %
HECLA MINING CO 3.8 %
FRESNILLO PLC 3.6 %
SILVERCORP METALS INC 3.5 %
Total 67.7 %

TOP COUNTRY EXPOSURE
CANADA 66.8 %
UNITED STATES 10.8 %
PERU 7.9 %
BRITAIN 6.6 %
JAPAN 3.0 %
MEXICO 3.0 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
22.3% 38.4% 4.3% -- -10.0%

Market Correlations
versus... Beta R-squared
S&P500 -0.00 0%
MSCI EAFE 0.41 3%
MSCI Emg. Mkts. 0.49 8%

Technical Indicators
Recent close $10.49
30d moving avg. $10.04
Annualized volatility 25.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 69
Turnover 0.7%
Bid/Ask (% of price) 0.36%
ADV underlying (mns) $184

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SLVP Expense: 39 bp ALTAR Score™: 0.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SLVP
Ticker Fund
Name
Overlap1
vs SLVP
(%)
Expense
ratio
(bp)
Savings
vs SLVP
(bp)
ALTAR
Score™
(%)
ALTAR
vs SLVP
(%)
SIL Global X Silver Miners ETF 71.2 65 -26 1.7 +1.2
SILJ ETFMG Prime Junior Silver 42.8 69 -30 -0.8 -1.3
GOEX Global X Gold Explorers 20.4 65 -26 2.3 +1.8
GOAU U.S. Global GO GOLD and Precious Metal Miners 15.4 60 -21 3.6 +3.1
EPU iShares MSCI All Peru Capped 13.5 59 -20 4.3 +3.8
GDXJ VanEck Vectors Jr. Gold Miners 12.3 53 -14 2.4 +1.9
XME SPDR Metals & Mining ETF 9.3 35 4 2.2 +1.7
SGDJ ALPS Sprott Junior Gold Miners 9.2 50 -11 2.1 +1.6
RING iShares MSCI Global Gold Miners 7.2 39 0 2.9 +2.4
ARGT Global X FTSE Argentina 20 6.4 59 -20 7.4 +6.9
AGT iShares MSCI Argentina & Global Exposure 6.4 59 -20 7.4 +6.9
SGDM Sprott Gold Miners 6.0 50 -11 2.8 +2.3
DOGS Arrow Dogs of the World 6.0 164 -125 7.7 +7.2
GDX VanEck Vectors Gold Miners ETF 4.0 52 -13 2.5 +2.0
NANR SPDR S&P N. American Nat. Resources 3.0 35 4 4.1 +3.6
PACA Xtrackers MSCI Latin America Pacific Alliance 2.3 45 -6 6.5 +6.0
AIIQ AI Powered International Equity 2.3 79 -40 4.6 +4.1
PYZ Invesco Dynamic Basic Materials Sector 2.2 60 -21 5.8 +5.3
GRES Index IQ Global Resources 1.3 77 -38 6.1 +5.6
EWW iShares MSCI Mexico 1.1 47 -8 6.7 +6.2

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

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 Global Silver Miners
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 1.3 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 0.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.55
 
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.