iShares PHLX SOX Semiconductor
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
22.8x P/Sales
ratio
5.9x
P/BV
ratio
5.6x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Goldman Sachs Semiconductor Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of U.S.-traded semiconductor stocks as represented by the Goldman Sachs Technology Industry Semiconductor Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jul 13, 2001
Assets (mns) $2,523
Currency USD
Expense ratio 46 bp
Distributions Quarterly

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 30
Wgt avg mkt cap (mns) $98,551
Large cap (>$10bn) 94.0%
Mid cap ($2-10bn) 6.0%
Small cap (<$2bn) 0.0%
Developed mkts 95.9%
Emerging mkts 4.1%

TOP TEN HOLDINGS
NVIDIA CORP 8.2 %
QUALCOMM INC 8.2 %
TEXAS INSTRUMENTS INC 7.8 %
INTEL CORP 7.3 %
BROADCOM INC. 7.0 %
ADVANCED MICRO DEVICES 4.7 %
MICRON TECHNOLOGY INC 4.3 %
LAM RESEARCH CORP 4.1 %
NXP SEMICONDUCTORS NV 4.1 %
TAIWAN SEMICONDUCTOR-SP ADR 4.0 %
Total 59.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 86.1 %
NETHERLANDS 7.1 %
TAIWAN 4.0 %
BERMUDA 2.6 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
62.4% 62.4% 23.5% 19.2% 7.7%

Market Correlations
versus... Beta R-squared
S&P500 1.48 63%
MSCI EAFE 1.44 49%
MSCI Emg. Mkts. 1.07 47%

Technical Indicators
Recent close $260.12
30d moving avg. $248.03
Annualized volatility 22.5%
Short interest (ETF) 18.5%
Short interest (Underlying) 4.1%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 400
Turnover 4.1%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $12,278

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SOXX Expense: 46 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SOXX
Ticker Fund
Name
Overlap1
vs SOXX
(%)
Expense
ratio
(bp)
Savings
vs SOXX
(bp)
ALTAR
Score™
(%)
ALTAR
vs SOXX
(%)
SMH VanEck Vectors Semiconductors 77.2 35 11 5.8 +0.3
FTXL First Trust Nasdaq Semiconductor 59.0 60 -14 5.3 -0.1
PSI Invesco Dynamic Semiconductors 54.4 58 -12 5.3 -0.1
XSD SPDR S&P Semiconductors 45.0 35 11 4.1 -1.4
QTEC First Trust NASDAQ 100 Tech 41.7 57 -11 5.2 -0.3
XNTK SPDR NYSE Technology 36.1 35 11 4.8 -0.7
JHMT John Hancock Multifactor Technology 30.7 40 6 5.5 +0.1
BUL Pacer US Cash Cows Growth 29.9 60 -14 6.5 +1.1
TDIV First Trust NASDAQ Technology Dividend 27.7 50 -4 6.2 +0.8
FIVG Defiance Next Gen Connectivity ETF 25.4 30 16 5.1 -0.3
DRIV Global X Autonomous & Electric Vehicles 24.5 68 -22 6.8 +1.4
TDV ProShares S&P Technology Dividend Aristocrats 23.7 45 1 4.9 -0.5
QTUM Defiance Quantum 23.6 40 6 5.4 0.0
IDRV iShares Self-driving EV & Tech 23.4 47 -1 8.2 +2.8
RYT Invesco S&P Equal Weight Technology 23.0 40 6 6.0 +0.6
KARS KraneShares Electric Vehicles & Future Mobility Index 21.2 70 -24 5.9 +0.5
FXL First Trust Technology Alphadex 20.4 63 -17 5.2 -0.3
PTF Invesco DWA Technology Momentum 20.3 60 -14 2.1 -3.3
IYW iShares US Technology 18.5 42 4 4.7 -0.8
XLK Technology Select Sector SPDR 17.7 13 33 5.0 -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%.

Content on this tab for subscribers only**

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 PHLX SOX Semiconductor
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 27.4 %
Divided by: Fwd. P/BV 4.6 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.