iShares US Tech Breakthrough Multisector ETF
ALTAR
Score™		 4.0% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 33.4x P/Sales
ratio		 5.6x
P/BV
ratio		 6.8x Div.
yield		 0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
TECB tracks an index of US equities that could benefit from breakthrough technologies, modified market cap weighted.

FUND BASICS
Category US Equities
Fund Sponsor Blackrock
Website www.ishares.com
Inception date Jan 08, 2020
Assets (mns) $340
Currency USD
Expense ratio 40 bp
Distributions None

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 157
Wgt avg mkt cap (mns) $356,624
Large cap (>$10bn) 92.2%
Mid cap ($2-10bn) 6.9%
Small cap (<$2bn) 1.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMAZON.COM INC 4.3 %
APPLE INC 4.3 %
MICROSOFT CORP 4.2 %
SALESFORCE.COM INC 4.2 %
ALPHABET INC. CLASS A 3.8 %
FACEBOOK 3.8 %
NVIDIA CORP 3.8 %
GILEAD SCIENCES INC 3.7 %
INTEL CORP 3.6 %
ADOBE SYSTEMS INC 3.5 %
Total 39.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 100.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
15.3% -- -- -- 15.3%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $29.55
30d moving avg. $28.34
Annualized volatility 0.0%
Short interest (ETF) 0.3%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 508
Turnover 4.4%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $102,400

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares US Tech Breakthrough Multisector ETF ETF based on the alternatives' overlap in portfolio holdings with TECB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: TECB Expense: 40 bp ALTAR Score™: 4.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH TECB
Ticker Fund
Name		 Overlap1
vs TECB
(%)		 Expense
ratio
(bp)		 Savings
vs TECB
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs TECB
(%)
IGM iShares Expanded Tech Sector ETF 56.2 46 -6 3.8 -0.2
IETC iShares Evolved U.S. Technology ETF 50.5 18 22 3.8 -0.2
AIQ Global X Future Analytics Tech ETF 46.8 68 -28 3.9 -0.1
IYW iShares U.S. Technology ETF 46.5 42 -2 4.0 +0.0
FTEC Fidelity MSCI Information Technology Index ETF 44.8 8 32 4.6 +0.6
VGT Vanguard Information Technology Index Fund 44.5 10 30 4.6 +0.6
JHMT John Hancock Multifactor Technology ETF 43.8 40 0 5.0 +1.0
XLK Technology Select Sector SPDR Fund 43.1 13 27 4.8 +0.7
XNTK SPDR NYSE Technology ETF 43.0 35 5 3.7 -0.3
JKE iShares Morningstar Large-Cap Growth ETF 42.4 25 15 2.9 -1.2
GDAT Goldman Sachs Motif Data-Driven World Etf 42.3 50 -10 5.0 +1.0
VEGN US Vegan Climate ETF 41.8 60 -20 5.2 +1.2
QYLD Global X NASDAQ 100 Covered Call ETF 40.8 60 -20 3.5 -0.5
NUSI Nationwide Risk-Managed Income ETF 40.8 68 -28 3.5 -0.6
QQQ Invesco QQQ Trust 40.3 20 20 3.9 -0.2
MTUM iShares Edge MSCI USA Momentum Factor ETF 39.3 15 25 4.2 +0.2
MGK Vanguard Mega Cap Growth ETF 38.7 7 33 4.2 +0.2
IXN iShares Global Tech ETF 38.2 46 -6 4.5 +0.5
IWY iShares Russell Top 200 Growth ETF 38.1 20 20 4.2 +0.1
VUG Vanguard Growth Index Fund 37.9 4 36 4.1 +0.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 37.9 60 -20 4.4 +0.4
IWF iShares Russell 1000 Growth ETF 37.8 19 21 4.2 +0.2
VONG Vanguard Russell 1000 Growth Index Fund 37.6 8 32 4.3 +0.3
VOOG Vanguard S&P 500 Growth ETF 37.5 10 30 4.3 +0.3
IVW iShares S&P 500 Growth ETF 37.4 18 22 4.2 +0.2
SPYG SPDR Portfolio S&P 500 Growth ETF 37.4 4 36 4.4 +0.3
IUSG iShares Core S&P US Growth ETF 36.6 4 36 4.4 +0.4
LRGE ClearBridge Large Cap Growth ESG ETF 36.4 59 -19 3.8 -0.2
KOIN Innovation Shares NextGen Protocol ETF 36.4 95 -55 4.4 +0.4
SCHG Schwab U.S. Large-Cap Growth ETF 36.2 4 36 4.2 +0.1
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 36.1 21 19 3.0 -1.1
TMFC Motley Fool 100 Index ETF 35.4 50 -10 3.8 -0.2
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 34.7 12 28 4.9 +0.8
XLG Invesco S&P 500 Top 50 ETF 34.4 20 20 4.5 +0.5
PWB Invesco Dynamic Large Cap Growth ETF 32.9 55 -15 3.4 -0.6
OEF iShares S&P 100 ETF 32.6 20 20 4.8 +0.8
SYG SPDR MFS Systematic Growth Equity ETF 32.4 60 -20 4.3 +0.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 32.4 75 -35 3.8 -0.2
EXT WisdomTree U.S. Total Earnings Fund 32.2 28 12 5.3 +1.3
SKYY First Trust Cloud Computing ETF 32.2 60 -20 2.2 -1.9
CACG ClearBridge All Cap Growth ETF 32.1 54 -14 4.4 +0.4
SPXN ProShares S&P 500 Ex-Financials ETF 32.0 27 13 5.0 +1.0
SPXV ProShares S&P 500 Ex-Health Care ETF 32.0 27 13 5.1 +1.0
OGIG O'Shares Global Internet Giants ETF 31.9 48 -8 0.7 -3.3
ESGV Vanguard ESG U.S. Stock ETF 31.7 12 28 5.2 +1.2
ENTR Entrepreneur 30 Fund 31.5 49 -9 2.6 -1.5
SFY SoFi Select 500 ETF 31.5 0 40 5.3 +1.3
CATH Global X S&P 500 Catholic Values Custom ETF 31.3 29 11 5.3 +1.2
IWL iShares Russell Top 200 ETF 31.3 15 25 5.1 +1.1
FDMO Fidelity Momentum Factor ETF 31.3 29 11 3.9 -0.2
BKLC BNY Mellon US Large Cap Core Equity ETF 31.3 0 40 5.3 +1.3
RYT Invesco S&P 500 Equal Weight Technology ETF 31.3 40 0 6.7 +2.7
MGC Vanguard Mega Cap Index Fund 31.0 7 33 5.3 +1.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 31.0 15 25 6.3 +2.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 30.8 20 20 5.0 +1.0
ESG FlexShares STOXX US ESG Impact Index Fund 30.8 32 8 5.1 +1.1
SPXE ProShares S&P 500 Ex-Energy ETF 30.5 27 13 5.4 +1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 30.5 12 28 5.0 +1.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 30.4 20 20 5.4 +1.4
PBP Invesco S&P 500 BuyWrite ETF 30.3 49 -9 5.0 +1.0
PBUS Invesco PureBeta MSCI USA ETF 30.3 4 36 5.3 +1.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 30.3 7 33 5.3 +1.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 30.3 2 38 5.4 +1.3
IQSU IQ Candriam ESG US Equity ETF 30.2 9 31 5.1 +1.1
GVIP Goldman Sachs Hedge Industry VIP ETF 30.2 45 -5 4.7 +0.7
VV Vanguard Large-Cap Index Fund 30.2 4 36 5.3 +1.3
SPY SPDR S&P 500 ETF Trust 30.1 9 31 5.4 +1.4
IVV iShares Core S&P 500 ETF 30.1 4 36 5.5 +1.4
VOO VANGUARD S&P 500 ETF 30.1 3 37 5.5 +1.5
SPLG SPDR Portfolio Large Cap ETF 30.1 3 37 5.5 +1.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 30.0 49 -9 4.1 +0.1
SCHX Schwab U.S. Large-Cap ETF 29.9 3 37 5.3 +1.3
HSPX Global X S&P 500 Covered Call ETF 29.9 65 -25 4.9 +0.9
ESGU iShares MSCI USA ESG Optimized ETF 29.8 15 25 5.2 +1.1
SCHK Schwab 1000 Index ETF 29.6 5 35 5.3 +1.3
IWB iShares Russell 1000 ETF 29.5 15 25 5.2 +1.2
VONE Vanguard Russell 1000 ETF 29.4 8 32 5.3 +1.3
IYY iShares Dow Jones U.S. ETF 29.4 20 20 5.2 +1.2
SNPE Xtrackers S&P 500 ESG ETF 29.3 11 29 5.2 +1.1
DSI iShares MSCI KLD 400 Social ETF 29.3 25 15 5.2 +1.1
HIPR Direxion High Growth ETF 29.2 40 0 2.9 -1.2
SPTM SPDR Portfolio Total Stock Market ETF 29.0 3 37 5.6 +1.6
IGV iShares North American Tech-Software ETF 28.9 46 -6 2.4 -1.6
ECOZ TrueMark ESG Active Opportunities ETF 28.9 58 -18 4.4 +0.4
SCHB Schwab U.S. Broad Market ETF 28.8 3 37 5.3 +1.3
ITOT iShares Core S&P Total U.S. Stock Market ETF 28.8 3 37 5.2 +1.2
VTI Vanguard Total Stock Market Index Fund 28.7 3 37 5.2 +1.2
SPHQ Invesco S&P 500 Quality ETF 28.7 15 25 4.7 +0.6
IWV iShares Russell 3000 ETF 28.6 20 20 5.1 +1.1
VTHR Vanguard Russell 3000 Index Fund 28.6 10 30 5.2 +1.2
AIEQ AI Powered Equity ETF 28.4 87 -47 3.7 -0.3
JMOM JPMorgan U.S. Momentum Factor ETF 28.4 12 28 3.9 -0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 28.4 9 31 5.6 +1.6
FDN First Trust Dow Jones Internet Index Fund 28.4 52 -12 2.2 -1.8
ADME Aptus Drawdown Managed Equity ETF 27.9 81 -41 3.6 -0.4
FXL First Trust Technology AlphaDEX Fund 27.9 61 -21 3.2 -0.9
SPMO Invesco S&P 500 Momentum ETF 27.8 13 27 4.4 +0.4
NACP Impact Shares NAACP Minority Empowerment ETF 27.8 75 -35 4.6 +0.6
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 27.6 57 -17 5.0 +0.9
SUSA iShares MSCI USA ESG Select ETF 27.4 25 15 4.8 +0.8

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 US Tech Breakthrough Multisector 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 27.4 %
Divided by: Fwd. P/BV 6.2 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 4.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.42 CATEGORY
AVERAGE		 1.52
 
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.