iShares MSCI Australia
ALTAR
Score™
6.2% info Recommen-
dation
NEUTRAL
2017E    2018E
P/E
ratio
16.3x P/Sales
ratio
2.4x
P/BV
ratio
2.0x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Australia Index fund seeks investment results that correspond to the price and yield performance of the MSCI Australia Index. The index consists primarily of large cap stocks traded in the Australian market.

FUND BASICS
Category International-Country ETFs
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 18, 1996
Assets (mns) $1,799
Currency USD
Expense ratio 48 bp
Distributions Semi-Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 70
Wgt avg mkt cap (mns) $46,428
Large cap (>$10bn) 78.4%
Mid cap ($2-10bn) 21.6%
Small cap (<$2bn) 0.0%
Developed mkts 99.3%
Emerging mkts 0.7%

TOP TEN HOLDINGS
COMMONWEALTH BANK OF AUSTRAL 10.0 %
WESTPAC BANKING CORP 8.2 %
BHP BILLITON LTD 6.9 %
AUST AND NZ BANKING GROUP 6.7 %
NATIONAL AUSTRALIA BANK LTD 6.3 %
CSL LIMITED 4.7 %
WESFARMERS LIMITED 3.8 %
WOOLWORTHS LIMITED 2.6 %
RIO TINTO LTD 2.3 %
MACQUARIE GROUP LTD 2.1 %
Total 53.6 %

TOP COUNTRY EXPOSURE
AUSTRALIA 97.7 %
PAPUA N.GUINEA 0.7 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.4% 17.5% 4.3% 3.0% 7.8%

Market Correlations
versus... Beta R-squared
S&P500 1.24 50%
MSCI EAFE 1.02 52%
MSCI Emg. Mkts. 0.82 58%

Technical Indicators
Recent close $22.83
30d moving avg. $22.65
Annualized volatility 17.7%
Short interest (ETF) 4.3%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 1,555
Turnover 2.0%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $3,180

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EWA Expense: 48 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWA
Ticker Fund
Name
Overlap1
vs EWA
(%)
Expense
ratio
(bp)
Savings
vs EWA
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWA
(%)
EPP iShares MSCI Pacific ex-Japan 58.1 49 -1 6.5 +0.3
AUSE WisdomTree Australia Dividend 46.0 58 -10 6.3 +0.1
PAF PowerShares FTSE-RAFI Asia ex-Japan 41.8 49 -1 7.9 +1.8
FAUS First Trust Australia 34.1 80 -32 5.5 -0.7
SCIX Global X Scientific Beta Asia ex-Japan 26.2 38 10 5.6 -0.5
OASI O'Shares FTSE Asia Pacific Quality Dividend 23.6 58 -10 6.5 +0.4
DVYA iShares Asia/Pacific Dividend 30 20.3 49 -1 7.2 +1.0
DBAP Deutsche X-trackers MSCI Asia Pacific Ex-Japan Hedged 18.9 60 -12 7.8 +1.7
AXJL WisdomTree Asia Pacific Ex-Japan 17.4 48 0 9.1 +3.0
IDOG ALPS International Sector Dividend Dogs 17.3 50 -2 5.7 -0.5
IPAC iShares Core MSCI Pacific 16.2 10 38 6.8 +0.6
VPL Vanguard Pacific ETF 14.4 12 36 7.1 +1.0
RFAP First Trust Riverfront Dynamic Asia Pacific 14.2 83 -35 7.7 +1.5
IDV iShares DJ Int'l Select Dividend 13.1 50 -2 6.6 +0.5
FPA First Trust Asia Pac Ex-Japan 12.7 80 -32 7.5 +1.4
IDHD PowerShares S&P Intl Developed High Div Low Volatility 12.4 30 18 6.6 +0.4
CID Victory CEMP International High Div Volatility Wtd 12.2 45 3 6.9 +0.8
FXEP PowerShares Dev'd EuroPacific Currency Hedged Low Vol 12.2 25 23 5.8 -0.4
PICK iShares MSCI Global Select Metals & Mining 12.2 39 9 5.3 -0.9
DDBI Legg Mason Developed Ex-US Diversified Core 11.7 40 8 5.8 -0.3

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

  2012 2013 2014 2015 2016 2017E 2018E
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
  2016 2017E 2018E
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 Australia
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 12.6 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.76 CATEGORY
AVERAGE
1.62
 
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.