iShares MSCI UAE ETF
ALTAR
Score™		 8.4% info Recommen-
dation		 OVERWEIGHT
2024E    2025E
P/E
ratio		 10.5x P/Sales
ratio		 2.6x
P/BV
ratio		 1.3x Div.
yield		 4.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI UAE Capped ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the investment results of a broad-based index composed of UAE equities.

FUND BASICS
Category International Equities
Fund Sponsor BlackRock Fund Advisors
Website www.ishares.com
Inception date Apr 29, 2014
Assets (mns) $46
Currency USD
Expense ratio 59 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 46
Wgt avg mkt cap (mns) $15,038
Large cap (>$10bn) 76.0%
Mid cap ($2-10bn) 7.7%
Small cap (<$2bn) 11.8%
Developed mkts 0.0%
Emerging mkts 95.5%

TOP TEN HOLDINGS
INFRACAP EQUITY INCOME FUND ETF 25.8 %
EMIRATES TELECOMMUNICATIONS GROUP 11.5 %
NATIONAL BANK OF ABU DHABI 10.3 %
EMAAR PROPERTIES PJSC 10.2 %
ABU DHABI ISLAMIC BANK 3.4 %
EMIRATES NBD PJSC 3.4 %
ABU DHABI COMMERCIAL BANK 3.4 %
ALDAR PROPERTIES PJSC 3.3 %
DUBAI ISLAMIC BANK 3.2 %
ADNOC DRILLING COMPANY PJSC 3.2 %
Total 77.6 %

TOP COUNTRY EXPOSURE
UAE 63.9 %
BRITAIN 0.0 %









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.
3.8% 12.5% 5.6% 0.0% -1.4%

Market Correlations
versus... Beta R-squared
S&P500 0.44 18%
MSCI EAFE 0.35 12%
MSCI Emg. Mkts. 0.22 5%

Technical Indicators
Recent close $15.59
30d moving avg. $15.00
Annualized volatility 18.0%
Short interest (ETF) 4.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 24
Turnover 0.8%
Bid/Ask (% of price) 0.36%
ADV underlying (mns) $281

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the iShares MSCI UAE ETF ETF based on the alternatives' overlap in portfolio holdings with UAE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: UAE Expense: 59 bp ALTAR Score™: 8.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH UAE
Ticker Fund
Name		 Overlap1
vs UAE
(%)		 Expense
ratio
(bp)		 Savings
vs UAE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs UAE
(%)
EDIV SPDR S&P Emerging Markets Dividend ETF 5.5 49 10 12.0 +3.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 3.9 29 30 8.7 +0.3
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 3.3 25 34 6.6 -1.8
EMIF iShares Emerging Markets Infrastructure ETF 3.2 60 -1 8.5 +0.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 3.1 49 10 16.1 +7.7
VNQI Vanguard Global ex-U.S. Real Estate ETF 2.8 12 47 8.3 -0.2
ECON Columbia Emerging Markets Consumer ETF 2.5 49 10 7.3 -1.1
FDEM Fidelity Emerging Markets Multifactor ETF 2.2 25 34 12.3 +3.9
EMM Global X Emerging Markets ex-China ETF 2.1 75 -16 4.2 -4.2
XCEM Columbia EM Core ex-China ETF 2.1 16 43 7.7 -0.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 2.1 40 19 8.3 -0.2
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.1 65 -6 8.2 -0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.0 44 15 10.6 +2.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.0 30 29 8.1 -0.3
EMXF iShares ESG Advanced MSCI EM ETF 2.0 16 43 6.8 -1.6
LDEM iShares ESG MSCI EM Leaders ETF 1.9 17 42 7.6 -0.8
XCNY SPDR S&P Emerging Markets ex-China ETF 1.8 15 44 6.3 -2.2
STXE Strive Emerging Markets Ex-China ETF 1.8 32 27 7.0 -1.4
FPXI First Trust International Equity Opportunities ETF 1.7 70 -11 4.9 -3.5
EMC Global X Emerging Markets Great Consumer ETF 1.7 75 -16 4.5 -3.9
EMXC iShares MSCI Emerging Markets ex China ETF 1.7 25 34 6.7 -1.8
EQLT iShares MSCI Emerging Markets Quality Factor ETF 1.6 35 24 7.4 -1.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.6 20 39 6.8 -1.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.5 41 18 7.4 -1.0
EMGF iShares Emerging Markets Equity Factor ETF 1.4 25 34 8.5 +0.1
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.4 15 44 10.2 +1.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.4 88 -29 7.4 -1.0
NUEM Nuveen ESG Emerging Markets Equity ETF 1.4 36 23 6.5 -2.0
SPEM SPDR Portfolio Emerging Markets ETF 1.3 7 52 7.3 -1.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.3 30 29 7.3 -1.2
DEHP Dimensional Emerging Markets High Profitability ETF 1.3 41 18 5.0 -3.5
DFAE Dimensional Emerging Core Equity Market ETF 1.2 35 24 7.3 -1.1
VWO Vanguard FTSE Emerging Markets ETF 1.2 8 51 6.9 -1.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.2 38 21 7.8 -0.6
EEM iShares MSCI Emerging Markets ETF 1.2 69 -10 6.9 -1.6
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.2 15 44 7.2 -1.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.2 35 24 12.4 +4.0
SCHE Schwab Emerging Markets Equity ETF 1.2 11 48 7.1 -1.3
DFEV Dimensional Emerging Markets Value ETF 1.2 43 16 11.1 +2.6
IEMG iShares Core MSCI Emerging Markets ETF 1.2 9 50 7.5 -1.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.2 45 14 11.0 +2.5
DVYE iShares Emerging Markets Dividend ETF 1.1 49 10 18.8 +10.3
MEM Matthews Emerging Markets Equity Active ETF 1.1 79 -20 5.4 -3.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.1 66 -7 10.0 +1.5
EWX SPDR S&P Emerging Markets Small Cap ETF 1.1 65 -6 8.2 -0.3
ESGE iShares ESG Aware MSCI EM ETF 1.1 25 34 7.1 -1.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.1 36 23 7.8 -0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 0 11.3 +2.9
BKEM BNY Mellon Emerging Markets Equity ETF 1.1 11 48 8.4 -0.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 1.1 24 35 9.2 +0.8
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 1.0 18 41 6.8 -1.6
IQDE FlexShares International Quality Dividend Defensive Index ET 0.9 47 12 14.8 +6.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.8 39 20 12.5 +4.0
DWX SPDR S&P International Dividend ETF 0.7 45 14 6.5 -2.0
VYMI Vanguard International High Dividend Yield ETF 0.7 22 37 9.8 +1.4
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.7 70 -11 7.7 -0.7
NXTG First Trust Indxx NextG ETF 0.6 70 -11 6.2 -2.2
OBOR KraneShares MSCI One Belt One Road Index ETF 0.6 79 -20 10.3 +1.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 26 8.2 -0.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.5 50 9 13.0 +4.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 29 8.0 -0.5
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 29 6.9 -1.5
VSGX Vanguard ESG International Stock ETF 0.4 12 47 6.8 -1.7
EEMO Invesco S&P Emerging Markets Momentum ETF 0.4 29 30 5.5 -2.9
SCHY Schwab International Dividend Equity ETF 0.4 14 45 9.3 +0.9
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 25 7.0 -1.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 8 51 7.3 -1.2
IXUS iShares Core MSCI Total International Stock ETF 0.4 7 52 7.2 -1.3
VXUS Vanguard Total International Stock ETF 0.3 7 52 7.2 -1.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.3 18 41 7.0 -1.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.3 41 18 7.4 -1.0
IQDF FlexShares International Quality Dividend Index Fund 0.3 47 12 12.9 +4.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.3 20 39 6.3 -2.1
KNCT Invesco Next Gen Connectivity ETF 0.3 40 19 5.6 -2.9
GLOF iShares Global Equity Factor ETF 0.1 20 39 7.0 -1.4
VT Vanguard Total World Stock ETF 0.1 7 52 5.5 -2.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 39 5.2 -3.3
ACWI iShares MSCI ACWI ETF 0.1 32 27 5.3 -3.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 50 5.4 -3.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.1 7 52 6.7 -1.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 47 4.8 -3.7
FILL iShares MSCI Global Energy Producers ETF 0.0 39 20 9.6 +1.2
BBEU JPMorgan BetaBuilders Europe ETF 0.0 9 50 7.1 -1.3
FLEE Franklin FTSE Europe ETF 0.0 9 50 7.2 -1.3
FLGB Franklin FTSE United Kingdom ETF 0.0 9 50 7.9 -0.6
JHMD John Hancock Multifactor Developed International ETF 0.0 39 20 7.8 -0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 0.0 31 28 6.7 -1.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 20 7.4 -1.0
SCHF Schwab International Equity ETF 0.0 6 53 7.5 -1.0
EFA iShares MSCI EAFE ETF 0.0 35 24 6.9 -1.5
EFG iShares MSCI EAFE Growth ETF 0.0 36 23 4.5 -3.9
EWU iShares MSCI United Kingdom ETF 0.0 50 9 8.4 -0.0
IDEV iShares Core MSCI International Developed Markets ETF 0.0 4 55 7.1 -1.3
IEFA iShares Core MSCI EAFE ETF 0.0 7 52 7.1 -1.3
IEUR iShares Core MSCI Europe ETF 0.0 11 48 7.1 -1.4
TMFG Motley Fool Global Opportunities ETF 0.0 85 -26 3.2 -5.2
VEA Vanguard FTSE Developed Markets ETF 0.0 5 54 7.3 -1.1
VGK Vanguard FTSE Europe ETF 0.0 11 48 7.1 -1.4

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%.

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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 UAE ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.4 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 8.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.60
 
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.