iShares MSCI EAFE
ALTAR
Score™		 7.7% info Recommen-
dation		 NEUTRAL
2013E    2014E
EPS
growth		 10.7% P/E
ratio		 13.8x
Sales
growth		 1.5% P/Sales
ratio		 0.8x


  • Description
  • Performance
  • premium Fundamentals
  • premium Valuation
  • Rating
The iShares MSCI EAFE Index fund seeks investment results that correspond to the price and yield performance of the MSCI EAFE Index. The index consists of the stocks in developed markets in Europe, Australia and the Far East.

FUND BASICS
Category International - Regional
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Aug 14, 2001
Assets (mns) $43,092
Currency USD
Expense ratio 34 bp
Distributions Semi-Annual

FUND STRUCTURE
Regulation Open-End Investment Co
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Full
Uses derivatives No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 879
Wgt avg mkt cap (mns) $64,652
Median mkt cap (mns) $8,409
Large cap (>$10bn) 83.2%
Mid cap ($2-10bn) 16.1%
Small cap (<$2bn) 0.7%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 1.8 %
HSBC HOLDINGS PLC 1.7 %
ROCHE HOLDING AG-GENUSSCHEIN 1.5 %
NOVARTIS AG-REG 1.4 %
TOYOTA MOTOR CORP 1.3 %
VODAFONE GROUP PLC 1.2 %
BP PLC 1.1 %
SANOFI-AVENTIS 1.1 %
ROYAL DUTCH SHELL PLC-A SHS 1.1 %
GLAXOSMITHKLINE PLC 1.0 %
Total 13.2 %

TOP COUNTRY EXPOSURE
JAPAN 22.0 %
BRITAIN 18.8 %
SWITZERLAND 9.8 %
AUSTRALIA 9.4 %
FRANCE 8.8 %
GERMANY 8.2 %
NETHERLANDS 4.5 %
SWEDEN 3.2 %
HONG KONG 2.9 %
SPAIN 2.9 %
HISTORICAL PERFORMANCE

Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
8.9% 19.3% -1.0% 9.0% 5.7%

Market Correlations
versus... Beta R-squared
S&P500 1.20 85%
MSCI EAFE 0.97 96%
MSCI Emg. Mkts. 0.80 75%

Technical Indicators
Recent close $62.89
Net asset value $63.27
Premium / Discount -0.6 %
Annualized volatility 19.7 %
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 17,956
Turnover 2.6 %
Bid/Ask (% of price) 0.02
ADV underlying (mns) $58,476

Distributions


Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2008 2009 2010 2011 2012 2013E 2014E
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
Foreign sales as a % of total **%   Asset turnover **%

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2012 2013E 2014E
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 EAFE
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 between 6.0% and 8.0%. This indicates that valuations adequately reflect the fundamentals of stocks in these funds. The majority of funds we cover fall into this category.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.6 %
Divided by: P/BV 1.3 x
Less: Expense ratio 34 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

 

 

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.