iShares MSCI India Small Cap ETF
ALTAR
Score™
3.0% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
34.6x P/Sales
ratio
1.2x
P/BV
ratio
1.6x Div.
yield
1.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI India Small Cap Index 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 India Small Cap Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Funds/USA
Website www.ishares.com
Inception date Feb 08, 2012
Assets (mns) $185
Currency USD
Expense ratio 76 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 213
Wgt avg mkt cap (mns) $1,364
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 35.6%
Small cap (<$2bn) 64.4%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
APOLLO HOSPITALS ENTERPRISE 2.5 %
CROMPTON GREAVES CONSUMER ELECTRIC 2.0 %
BALKRISHNA INDUSTRIES LIMITED 1.9 %
PI INDUSTRIES LIMITED 1.7 %
MPHASIS LIMITED 1.6 %
MAX INDIA LIMITED 1.4 %
JINDAL STEEL & POWER LTD 1.3 %
FEDERAL BANK LTD 1.3 %
VODAFONE IDEA LTD 1.2 %
ATUL LIMITED 1.2 %
Total 16.1 %

TOP COUNTRY EXPOSURE
INDIA 79.1 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.8% -8.1% -0.9% -- 3.4%

Market Correlations
versus... Beta R-squared
S&P500 0.87 25%
MSCI EAFE 1.10 34%
MSCI Emg. Mkts. 0.94 41%

Technical Indicators
Recent close $33.03
30d moving avg. $31.27
Annualized volatility 29.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 37
Turnover 0.7%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $86

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 55 potential alternatives to the iShares MSCI India Small Cap ETF ETF based on the alternatives' overlap in portfolio holdings with SMIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SMIN Expense: 76 bp ALTAR Score™: 3.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SMIN
Ticker Fund
Name
Overlap1
vs SMIN
(%)
Expense
ratio
(bp)
Savings
vs SMIN
(bp)
ALTAR
Score™
(%)
ALTAR
vs SMIN
(%)
EPI WisdomTree India Earnings Fund 10.8 85 -9 8.1 +5.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 9.3 69 7 7.6 +4.7
EWX SPDR S&P Emerging Markets Small Cap ETF 6.9 65 11 6.0 +3.0
FLIN Franklin FTSE India ETF 3.6 19 57 5.3 +2.4
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.3 63 13 12.5 +9.5
PIN Invesco India ETF 3.3 78 -2 5.4 +2.4
INCO Columbia India Consumer ETF 2.8 75 1 2.7 -0.2
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 2.7 64 12 4.6 +1.6
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 2.6 58 18 4.6 +1.7
FTAG First Trust Indxx Global Agriculture ETF 2.5 70 6 5.9 +3.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 2.3 59 17 10.8 +7.9
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 2.1 50 26 10.3 +7.4
GMF SPDR S&P Emerging Asia Pacific ETF 1.5 49 27 7.2 +4.3
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 1.5 11 65 6.4 +3.4
AVEM Avantis Emerging Markets Equity ETF 1.4 33 43 8.7 +5.7
RNEM Emerging Markets Equity Select ETF 1.2 75 1 11.4 +8.4
DVYE iShares Emerging Markets Dividend ETF 1.1 49 27 16.4 +13.4
VEGI iShares MSCI Global Agriculture Producers ETF 1.1 39 37 5.5 +2.6
SPEM SPDR Portfolio Emerging Markets ETF 1.1 11 65 7.8 +4.8
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 1.0 80 -4 17.9 +15.0
IEMG iShares Core MSCI Emerging Markets ETF 0.9 13 63 7.8 +4.8
VWO Vanguard FTSE Emerging Markets ETF 0.9 10 66 8.0 +5.0
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 0.6 51 25 14.2 +11.2
OBOR KraneShares MSCI One Belt One Road Index ETF 0.6 79 -3 8.8 +5.9
PXH Invesco FTSE RAFI Emerging Markets ETF 0.4 50 26 13.2 +10.2
FLAX Franklin FTSE Asia Ex Japan ETF 0.4 19 57 7.6 +4.7
SCHE Schwab Emerging Markets Equity ETF 0.4 11 65 7.9 +4.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 0.3 45 31 9.3 +6.4
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 0.3 10 66 9.2 +6.2
EYLD Cambria Emerging Shareholder Yield ETF 0.3 66 10 17.1 +14.2
DVEM WisdomTree Emerging Markets Dividend Fund 0.3 32 44 8.1 +5.2
VSGX Vanguard ESG International Stock ETF 0.3 17 59 7.0 +4.0
VNQI Vanguard Global ex-US Real Estate Index Fund 0.3 12 64 10.1 +7.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.3 32 44 6.1 +3.2
EDIV SPDR S&P Emerging Markets Dividend ETF 0.2 49 27 11.3 +8.3
DEM WisdomTree Emerging Markets High Dividend Fund 0.2 63 13 14.0 +11.0
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.2 47 29 6.2 +3.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.2 32 44 8.9 +5.9
VXUS Vanguard Total International Stock Index Fund 0.2 8 68 7.4 +4.4
IXUS ishares Core MSCI Total International Stock ETF 0.2 9 67 7.3 +4.3
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 37 6.8 +3.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.2 58 18 7.7 +4.8
EEMO Invesco S&P Emerging Markets Momentum ETF 0.1 29 47 6.4 +3.4
FTRI First Trust Indxx Global Natural Resources Income ETF 0.1 70 6 8.8 +5.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.1 39 37 12.6 +9.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.1 44 32 8.9 +5.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 68 7.4 +4.5
VT Vanguard Total World Stock Index Fund 0.1 8 68 5.9 +3.0
VYMI Vanguard International High Dividend Yield ETF 0.1 32 44 9.9 +6.9
VIGI Vanguard International Dividend Appreciation ETF 0.0 25 51 5.5 +2.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.0 86 -10 2.1 -0.8
FILL iShares MSCI Global Energy Producers ETF 0.0 39 37 6.3 +3.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 67 5.7 +2.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.0 40 36 7.2 +4.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 40 8.0 +5.1

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 India Small Cap ETF
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 5.7 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 76 bp
Equals: ALTAR Score 3.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.45
 
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.