iShares MSCI India Small Cap ETF
ALTAR
Score™		 3.5% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 25.2x P/Sales
ratio		 1.9x
P/BV
ratio		 3.4x 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) $944
Currency USD
Expense ratio 79 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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 519
Wgt avg mkt cap (mns) $1,796
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 67.0%
Small cap (<$2bn) 33.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
NIIT TECHNOLOGIES LTD 1.1 %
FEDERAL BANK LTD 1.1 %
VOLTAS LIMITED 1.0 %
BSE LTD 1.0 %
EMBASSY OFFICE PARKS REIT 0.9 %
MAX INDIA LIMITED 0.8 %
LIC HOUSING FINANCE LTD 0.8 %
EXIDE INDUSTRIES LTD 0.8 %
CROMPTON GREAVES CONSUMER ELECTRIC 0.7 %
MINDA INDUSTRIES LIMITED 0.7 %
Total 8.9 %

TOP COUNTRY EXPOSURE
INDIA 63.1 %










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.
22.9% 39.4% 20.2% 11.0% 10.9%

Market Correlations
versus... Beta R-squared
S&P500 0.48 31%
MSCI EAFE 0.37 18%
MSCI Emg. Mkts. 0.37 18%

Technical Indicators
Recent close $80.30
30d moving avg. $84.21
Annualized volatility 15.2%
Short interest (ETF) 10.6%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 270
Turnover 2.3%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $431

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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: 79 bp ALTAR Score™: 3.5%


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
(%)
EEMS iShares MSCI Emerging Markets Small Cap ETF 18.6 70 9 7.7 +4.3
EPI WisdomTree India Earnings Fund 10.8 85 -6 6.1 +2.6
EWX SPDR S&P Emerging Markets Small Cap ETF 7.6 65 14 8.2 +4.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 7.5 58 21 10.2 +6.7
DGIN VanEck Digital India ETF 6.3 71 8 0.1 -3.3
AVES Avantis Emerging Markets Value ETF 5.6 36 43 11.6 +8.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 5.5 38 41 7.8 +4.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 5.1 7 72 6.7 +3.2
PIN Invesco India ETF 4.8 78 1 4.5 +1.0
GLIN VanEck India Growth Leaders ETF 4.5 77 2 5.7 +2.2
AVEM Avantis Emerging Markets Equity ETF 4.4 33 46 8.9 +5.4
FLIN Franklin FTSE India ETF 4.3 19 60 4.7 +1.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 4.3 41 38 7.4 +4.0
UEVM VictoryShares Emerging Markets Value Momentum ETF 4.3 45 34 12.3 +8.9
XCNY SPDR S&P Emerging Markets ex-China ETF 3.9 15 64 6.3 +2.8
DFEV Dimensional Emerging Markets Value ETF 3.8 43 36 11.1 +7.6
GMF SPDR S&P Emerging Asia Pacific ETF 3.8 49 30 6.1 +2.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.7 59 20 11.3 +7.8
DFAE Dimensional Emerging Core Equity Market ETF 3.2 35 44 7.3 +3.9
IEMG iShares Core MSCI Emerging Markets ETF 2.8 9 70 7.5 +4.0
VWO Vanguard FTSE Emerging Markets ETF 2.7 8 71 6.9 +3.5
SPEM SPDR Portfolio Emerging Markets ETF 2.7 7 72 7.3 +3.9
IPAV Global X Infrastructure Development ex-U.S. ETF 2.4 55 24 9.7 +6.2
XC WisdomTree Emerging Markets Ex-China Fund 2.2 32 47 6.0 +2.5
VEGI iShares MSCI Agriculture Producers ETF 2.2 39 40 9.2 +5.8
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 1.9 80 -1 12.3 +8.8
EMGF iShares Emerging Markets Equity Factor ETF 1.8 25 54 8.5 +5.0
FTAG First Trust Indxx Global Agriculture ETF 1.8 70 9 9.7 +6.2
INQQ India Internet & Ecommerce ETF 1.7 86 -7 2.6 -0.9
OBOR KraneShares MSCI One Belt One Road Index ETF 1.6 79 0 10.3 +6.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.5 30 49 8.0 +4.5
NDIA Global X India Active ETF 1.4 75 4 7.2 +3.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.3 33 46 8.2 +4.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.3 88 -9 7.4 +4.0
FDEM Fidelity Emerging Markets Multifactor ETF 1.1 25 54 12.3 +8.9
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.1 75 4 2.9 -0.6
ERTH Invesco MSCI Sustainable Future ETF 1.1 62 17 3.6 +0.2
FLAX Franklin FTSE Asia Ex Japan ETF 1.1 19 60 6.9 +3.4
EEMO Invesco S&P Emerging Markets Momentum ETF 1.0 29 50 5.5 +2.1
VSGX Vanguard ESG International Stock ETF 0.9 12 67 6.8 +3.3
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.9 12 67 8.3 +4.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.8 32 47 6.2 +2.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.8 50 29 13.0 +9.5
VXUS Vanguard Total International Stock ETF 0.8 7 72 7.2 +3.7
ROAM Hartford Multifactor Emerging Markets ETF 0.8 44 35 15.8 +12.3
IXUS iShares Core MSCI Total International Stock ETF 0.8 7 72 7.2 +3.7
INDF Nifty India Financials ETF 0.8 75 4 5.3 +1.8
SCHE Schwab Emerging Markets Equity ETF 0.7 11 68 7.1 +3.7
BIGFX Baron International Growth Retail 0.7 75 4 3.1 -0.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.7 95 -16 10.5 +7.1
MINV Matthews Asia Innovators Active ETF 0.6 79 0 3.0 -0.5
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 0.6 86 -7 1.2 -2.2
CUT Invesco MSCI Global Timber ETF 0.6 61 18 8.4 +4.9
FTRI First Trust Indxx Global Natural Resources Income ETF 0.5 70 9 9.8 +6.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.5 9 70 5.4 +1.9
CGW Invesco S&P Global Water Index ETF 0.5 57 22 4.4 +0.9
PICK iShares MSCI Global Metals & Mining Producers ETF 0.5 39 40 12.8 +9.4
AVRE Avantis Real Estate ETF 0.4 17 62 5.9 +2.4
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 16 18.9 +15.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.4 15 64 10.2 +6.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.4 86 -7 1.6 -1.8
DEHP Dimensional Emerging Markets High Profitability ETF 0.4 41 38 5.0 +1.5
SETM Sprott Energy Transition Materials ETF 0.4 65 14 6.0 +2.5
JIG JPMorgan International Growth ETF 0.3 55 24 4.6 +1.2
ICLN iShares Global Clean Energy ETF 0.3 41 38 6.0 +2.5
BKEM BNY Mellon Emerging Markets Equity ETF 0.3 11 68 8.4 +4.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.3 36 43 7.8 +4.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 8 71 7.3 +3.8
VT Vanguard Total World Stock ETF 0.3 7 72 5.5 +2.1
REET iShares Global REIT ETF 0.3 14 65 6.2 +2.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.3 42 37 8.1 +4.6
EFRA iShares Environmental Infrastructure and Industrials ETF 0.3 47 32 4.9 +1.5
IWTR iShares MSCI Water Management Multisector ETF 0.3 47 32 5.0 +1.6
EMMF WisdomTree Emerging Markets Multifactor Fund 0.3 48 31 8.8 +5.3
RNEM First Trust Emerging Markets Equity Select ETF 0.2 75 4 7.6 +4.1
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 34 3.6 +0.1
DFGR Dimensional Global Real Estate ETF 0.2 22 57 6.2 +2.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.2 15 64 7.2 +3.8
IQDE FlexShares International Quality Dividend Defensive Index ET 0.2 47 32 14.8 +11.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.2 32 47 6.9 +3.4
JHEM John Hancock Multifactor Emerging Markets ETF 0.2 49 30 8.2 +4.7
GLOF iShares Global Equity Factor ETF 0.2 20 59 7.0 +3.6
EMM Global X Emerging Markets ex-China ETF 0.2 75 4 4.2 +0.8
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.1 18 61 6.8 +3.4
VIGI Vanguard International Dividend Appreciation ETF 0.1 15 64 6.4 +3.0
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.1 10 69 7.7 +4.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 61 7.0 +3.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.1 44 35 10.6 +7.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.1 39 40 12.5 +9.0
IGRO iShares International Dividend Growth ETF 0.1 15 64 7.5 +4.1
PXH Invesco FTSE RAFI Emerging Markets ETF 0.1 49 30 12.2 +8.8
XCEM Columbia EM Core ex-China ETF 0.1 16 63 7.7 +4.3
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.0 45 34 5.7 +2.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.0 45 34 11.0 +7.5
VYMI Vanguard International High Dividend Yield ETF 0.0 22 57 9.8 +6.4
FILL iShares MSCI Global Energy Producers ETF 0.0 39 40 9.6 +6.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 13 10.0 +6.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 38 7.4 +4.0

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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 13.0 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 79 bp
Equals: ALTAR Score 3.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 CATEGORY
AVERAGE		 1.48
 
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.