iShares MSCI Turkey ETF
ALTAR
Score™		 22.7% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 5.9x P/Sales
ratio		 0.5x
P/BV
ratio		 1.2x Div.
yield		 5.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI Turkey Investable Market Index Fund seeks investment results that correspond to the performance of the MSCI Turkey Investable Market Index.

FUND BASICS
Category International Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Mar 26, 2008
Assets (mns) $132
Currency USD
Expense ratio 58 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 84
Wgt avg mkt cap (mns) $5,172
Large cap (>$10bn) 15.9%
Mid cap ($2-10bn) 53.3%
Small cap (<$2bn) 30.8%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
BIM BIRLESIK MAGAZALAR AS 8.1 %
ASELSAN ELEKTRONIK SANAYI 7.6 %
AKBANK T.A.S. 6.0 %
TUPRAS-TURKIYE PETROL RAFINE 4.6 %
TURKCELL ILETISIM HIZMETLERI A.S. 4.4 %
KOC HOLDING AS 4.2 %
TURK HAVA YOLLARI AO 4.1 %
TURKIYE IS BANKASI-C 3.6 %
YAPI VE KREDI BANKASI 3.3 %
HACI OMER SABANCI HOLDING 2.9 %
Total 48.7 %

TOP COUNTRY EXPOSURE
TURKEY 93.2 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-16.4% -27.9% 9.8% -1.6% -0.2%

Market Correlations
versus... Beta R-squared
S&P500 0.33 3%
MSCI EAFE 0.46 6%
MSCI Emg. Mkts. 0.36 4%

Technical Indicators
Recent close $29.99
30d moving avg. $31.43
Annualized volatility 33.1%
Short interest (ETF) 19.7%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 130
Turnover 3.0%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $1,750

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 119 potential alternatives to the iShares MSCI Turkey ETF ETF based on the alternatives' overlap in portfolio holdings with TUR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: TUR Expense: 58 bp ALTAR Score™: 22.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH TUR
Ticker Fund
Name		 Overlap1
vs TUR
(%)		 Expense
ratio
(bp)		 Savings
vs TUR
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs TUR
(%)
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 7.8 44 14 10.9 -11.8
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 7.0 80 -22 15.1 -7.6
GVAL Cambria Global Value ETF 6.6 68 -10 11.2 -11.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 4.5 70 -12 15.5 -7.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 4.3 90 -32 8.1 -14.6
FEM First Trust Emerging Markets AlphaDEX Fund 4.0 80 -22 12.0 -10.7
CRAK VanEck Oil Refiners ETF 3.7 61 -3 15.9 -6.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 3.2 45 13 10.8 -11.9
FDEM Fidelity Emerging Markets Multifactor ETF 3.2 25 33 13.6 -9.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 3.2 95 -37 13.3 -9.4
ROAM Hartford Multifactor Emerging Markets ETF 3.1 44 14 12.3 -10.5
EMMF WisdomTree Emerging Markets Multifactor Fund 2.9 48 10 8.1 -14.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.5 42 16 6.8 -16.0
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.4 60 -2 10.8 -11.9
OBOR KraneShares MSCI One Belt One Road Index ETF 2.4 79 -21 8.8 -13.9
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.3 67 -9 14.0 -8.7
RODE Hartford Multifactor Diversified International ETF 2.3 29 29 11.0 -11.8
WAR U.S. Global Tech and Aerospace & Defense ETF 2.2 60 -2 3.6 -19.1
EYLD Cambria Emerging Shareholder Yield ETF 1.9 66 -8 13.0 -9.7
JETS U.S. Global Jets ETF 1.6 60 -2 3.8 -18.9
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.4 70 -12 7.8 -14.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 1.4 32 26 7.0 -15.8
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.3 25 33 6.5 -16.2
DEM WisdomTree Emerging Markets High Dividend Fund 1.3 63 -5 13.6 -9.1
SDIV Global X Superdividend ETF 1.3 58 0 42.4 +19.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 1.2 39 19 17.2 -5.6
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.2 35 23 20.9 -1.8
EWX SPDR S&P Emerging Markets Small Cap ETF 1.2 65 -7 8.3 -14.5
PXH Invesco FTSE RAFI Emerging Markets ETF 1.2 49 9 17.0 -5.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.2 59 -1 12.3 -10.4
XCNY SPDR S&P Emerging Markets ex-China ETF 1.1 15 43 7.7 -15.1
XC WisdomTree Emerging Markets Ex-China Fund 1.1 32 26 6.2 -16.6
XCEM Columbia EM Core ex-China ETF 1.1 16 42 8.4 -14.3
MEM Matthews Emerging Markets Equity Active ETF 1.0 79 -21 8.5 -14.3
RNEM First Trust Emerging Markets Equity Select ETF 1.0 75 -17 7.0 -15.7
BKEM BNY Mellon Emerging Markets Equity ETF 1.0 11 47 10.6 -12.1
EEMO Invesco S&P Emerging Markets Momentum ETF 0.9 29 29 6.8 -15.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.9 45 13 11.1 -11.6
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.9 24 34 8.5 -14.2
AVES Avantis Emerging Markets Value ETF 0.9 36 22 12.0 -10.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.9 33 25 10.7 -12.1
AVEM Avantis Emerging Markets Equity ETF 0.9 33 25 9.5 -13.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.9 36 22 10.4 -12.3
FTAG First Trust Indxx Global Agriculture ETF 0.9 70 -12 8.5 -14.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.9 30 28 10.2 -12.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.9 50 8 11.9 -10.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.8 58 0 9.9 -12.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.8 32 26 9.7 -13.0
EMGF iShares Emerging Markets Equity Factor ETF 0.8 25 33 12.3 -10.4
DVYE iShares Emerging Markets Dividend ETF 0.8 49 9 18.7 -4.1
SCHE Schwab Emerging Markets Equity ETF 0.8 11 47 11.8 -10.9
NUEM Nuveen ESG Emerging Markets Equity ETF 0.7 36 22 8.2 -14.5
EMXC iShares MSCI Emerging Markets ex China ETF 0.7 25 33 8.0 -14.8
DFEV Dimensional Emerging Markets Value ETF 0.7 43 15 14.1 -8.6
SPEM SPDR Portfolio Emerging Markets ETF 0.7 7 51 11.0 -11.7
ECON Columbia Emerging Markets Consumer ETF 0.7 49 9 13.3 -9.5
EMM Global X Emerging Markets ex-China ETF 0.7 75 -17 6.1 -16.7
GDXJ VanEck Junior Gold Miners ETF 0.7 52 6 4.6 -18.1
JHEM John Hancock Multifactor Emerging Markets ETF 0.7 49 9 10.7 -12.1
EMC Global X Emerging Markets Great Consumer ETF 0.7 75 -17 8.4 -14.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.7 15 43 8.6 -14.2
IEMG iShares Core MSCI Emerging Markets ETF 0.7 9 49 11.0 -11.7
VWO Vanguard FTSE Emerging Markets ETF 0.7 8 50 11.1 -11.6
GOEX Global X Gold Explorers ETF 0.7 65 -7 4.2 -18.6
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.6 15 43 10.9 -11.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.6 66 -8 10.5 -12.2
DFAE Dimensional Emerging Core Equity Market ETF 0.6 35 23 10.2 -12.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.6 38 20 10.0 -12.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.6 88 -30 9.8 -12.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.5 41 17 9.5 -13.2
EEM iShares MSCI Emerging Markets ETF 0.5 69 -11 10.8 -11.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.5 30 28 10.9 -11.8
SHLD Global X Defense Tech ETF 0.5 50 8 3.2 -19.5
ESGE iShares ESG Aware MSCI EM ETF 0.5 25 33 10.7 -12.0
DEHP Dimensional Emerging Markets High Profitability ETF 0.5 41 17 7.2 -15.6
RCGE RockCreek Global Equality ETF 0.5 95 -37 6.4 -16.3
WWJD Inspire International ETF 0.5 80 -22 7.3 -15.4
LDEM iShares ESG MSCI EM Leaders ETF 0.5 17 41 14.0 -8.7
RING iShares MSCI Global Gold Miners ETF 0.5 39 19 5.6 -17.1
GLOF iShares Global Equity Factor ETF 0.4 20 38 6.9 -15.8
EMXF iShares ESG Advanced MSCI EM ETF 0.4 16 42 8.6 -14.1
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 19 14.1 -8.7
BLDG Cambria Global Real Estate ETF 0.3 60 -2 12.2 -10.6
FEOE First Eagle Overseas Equity ETF 0.3 79 -21 8.3 -14.4
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 19 8.7 -14.0
BLES Inspire Global Hope ETF 0.3 61 -3 7.0 -15.7
STXE Strive Emerging Markets Ex-China ETF 0.2 32 26 8.0 -14.7
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.2 47 11 8.5 -14.2
NATO Themes Transatlantic Defense ETF 0.2 35 23 2.7 -20.0
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 51 8.1 -14.6
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 50 8.3 -14.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.2 20 38 5.8 -16.9
IPAV Global X Infrastructure Development ex-U.S. ETF 0.2 55 3 7.9 -14.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 17 7.8 -15.0
VYMI Vanguard International High Dividend Yield ETF 0.2 22 36 9.8 -12.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 40 8.0 -14.8
VXUS Vanguard Total International Stock ETF 0.2 7 51 8.2 -14.5
VSGX Vanguard ESG International Stock ETF 0.2 12 46 8.0 -14.8
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 28 7.9 -14.8
IQDF FlexShares International Quality Dividend Index Fund 0.2 47 11 9.3 -13.5
IGRO iShares International Dividend Growth ETF 0.2 15 43 7.1 -15.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.2 12 46 5.3 -17.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 28 8.3 -14.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 24 7.9 -14.8
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.2 10 48 8.3 -14.5
DEW WisdomTree Global High Dividend Fund 0.2 58 0 8.8 -13.9
FILL iShares MSCI Global Energy Producers ETF 0.1 39 19 12.7 -10.1
AVRE Avantis Real Estate ETF 0.1 17 41 7.1 -15.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 38 6.0 -16.7
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 46 8.2 -14.5
ICLN iShares Global Clean Energy ETF 0.1 41 17 6.2 -16.5
DFGR Dimensional Global Real Estate ETF 0.1 22 36 7.4 -15.3
VT Vanguard Total World Stock ETF 0.1 7 51 6.2 -16.5
ACWI iShares MSCI ACWI ETF 0.1 32 26 5.9 -16.9
REET iShares Global REIT ETF 0.1 14 44 7.5 -15.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 49 6.1 -16.6
RWX SPDR Dow Jones International Real Estate ETF 0.0 59 -1 6.9 -15.8
RWO SPDR Dow Jones Global Real Estate ETF 0.0 50 8 7.0 -15.8
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 7 51 7.0 -15.7

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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 Turkey ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 25.2 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 22.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.61
 
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.