iShares MSCI Global Silver Miners ETF
ALTAR
Score™
1.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
22.7x P/Sales
ratio
2.3x
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) $105
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) $4,204
Large cap (>$10bn) 24.3%
Mid cap ($2-10bn) 30.7%
Small cap (<$2bn) 45.0%
Developed mkts 83.8%
Emerging mkts 16.2%

TOP TEN HOLDINGS
SILVER WHEATON CORP 24.7 %
PAN AMERICAN SILVER CORP 11.7 %
CIA DE MINAS BUENAVENTUR-ADR 5.9 %
SSR MINING INC 4.9 %
HECLA MINING CO 4.3 %
HARMONY GOLD MINING CO LTD 4.3 %
ELDORADO GOLD CORP 4.2 %
FIRST MAJESTIC SILVER CORP 3.9 %
INDUSTRIAS PENOLES SAB DE CV 3.2 %
COEUR D'ALENE MINES CORP 3.1 %
Total 70.2 %

TOP COUNTRY EXPOSURE
CANADA 67.6 %
UNITED STATES 10.4 %
PERU 5.9 %
SOUTH AFRICA 4.3 %
MEXICO 3.2 %
BRITAIN 2.8 %
JAPAN 2.5 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.0% 18.0% 3.2% -- -9.2%

Market Correlations
versus... Beta R-squared
S&P500 0.04 0%
MSCI EAFE 0.45 4%
MSCI Emg. Mkts. 0.49 9%

Technical Indicators
Recent close $11.28
30d moving avg. $10.48
Annualized volatility 23.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 84
Turnover 0.9%
Bid/Ask (% of price) 0.35%
ADV underlying (mns) $173

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI Global Silver Miners ETF 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™: 1.6%


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 66.1 65 -26 2.8 +1.2
SILJ ETFMG Prime Junior Silver ETF 42.2 69 -30 0.7 -0.9
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 22.7 60 -21 2.4 +0.8
GOEX Global X Gold Explorers ETF 20.7 65 -26 3.6 +2.0
EPU iShares MSCI All Peru Capped ETF 14.2 59 -20 5.7 +4.1
SGDM Sprott Gold Miners ETF 11.9 50 -11 3.0 +1.4
SGDJ ALPS Sprott Junior Gold Miners ETF 10.9 50 -11 3.7 +2.1
GDXJ VanEck Vectors Junior Gold Miners ETF 9.9 53 -14 3.3 +1.7
XME SPDR S&P Metals & Mining ETF 8.8 35 4 3.4 +1.8
RING iShares MSCI Global Gold Miners ETF 7.7 39 0 3.4 +1.8
AIIQ AI Powered International Equity ETF 4.0 79 -40 5.1 +3.6
GDX VanEck Vectors Gold Miners ETF 3.2 52 -13 2.8 +1.2
NANR SPDR S&P North American Natural Resources ETF 3.2 35 4 4.6 +3.0
ARGT Global X MSCI Argentina ETF 3.1 59 -20 7.0 +5.4
AGT iShares MSCI Argentina & Global Exposure ETF A 3.1 59 -20 6.9 +5.4
PACA Xtrackers MSCI Latin America Pacific Alliance ETF 2.7 45 -6 6.9 +5.3
PYZ Invesco DWA Basic Materials Momentum ETF 1.8 60 -21 5.6 +4.0
DOGS Arrow Dogs of the World ETF 1.5 134 -95 10.7 +9.1
DDJP WisdomTree Dynamic Currency Hedged Japan Equity Fund 1.2 43 -4 8.2 +6.6
FVL First Trust Value Line 100 Exchange-Traded Fund 1.1 70 -31 4.2 +2.6

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 Silver Miners 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 3.0 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 1.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 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.