BKF
iShares MSCI BIC ETF
The iShares MSCI BRIC Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI BRIC Index. The index consists primarily of large cap stocks in Brazil, Russia, India and China.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
69 bp
EXPENSES
$72.4 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Barclays Global Investors |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 12, 2007 |
| Assets (mns) | $72 |
| Expense ratio | 69 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TENCENT HOLDINGS LTD | 7.9 % |
| ALIBABA GROUP HOLDING LTD. | 3.8 % |
| RELIANCE INDUSTRIES LTD | 2.9 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 2.0 % |
| ICICI BANK LTD | 2.0 % |
| MEITUAN DIANPING | 2.0 % |
| INFOSYS TECHNOLOGIES LTD | 1.8 % |
| CHINA CONSTRUCTION BANK-H | 1.7 % |
| SBERBANK | 1.4 % |
| HDFC BANK LIMITED | 1.4 % |
Constituent Breakdown
| Number of holdings | 680 |
| Herfindahl-Hirschman Index | 137 |
| Wgt avg mkt cap (mns) | $94,454 |
| Large cap (>$10bn) | 84.2% |
| Mid cap ($2-10bn) | 14.5% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 9.5% |
| Emerging mkts. | 90.5% |
Country Exposure
 |
CHINA | 42.8 % |
 |
INDIA | 35.3 % |
 |
BRAZIL | 8.2 % |
 |
RUSSIA | 6.1 % |
 |
HONG KONG | 3.1 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 4.2% | 5.1% | -0.4% | -11.5% | -1.8% | 1.1% | -1.1% | Volatility | 16.0% | 16.9% | 20.3% | 23.0% | 24.4% | 22.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.44 | 15% |
| MSCI EAFE | 0.69 | 33% |
| MSCI Emg Mkts | 1.07 | 82% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.24% |
| ADV of underlying (mns) | $30,689 |
Technical Indicators
| Recent close | $35.30 |
| 30d moving avg. | $36.38 |
| Annualized volatility | 20.9% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.8% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BKF |
Expenses vs. BKF |
ALTAR Score™ vs. BKF |
|---|---|---|---|---|
| EEMA | iShares MSCI Emerging Markets Asia ETF | 52.0% | -20 bp | -0.7% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 47.9% | +1 bp | -1.0% |
| EEM | iShares MSCI Emerging Markets ETF | 47.7% | 0 bp | -0.4% |
| LDEM | iShares ESG MSCI EM Leaders ETF | 47.5% | -52 bp | +0.2% |
| MCHI | iShares MSCI China ETF | 45.9% | -10 bp | +1.8% |
| FLCH | Franklin FTSE China ETF | 44.3% | -50 bp | +2.5% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 44.1% | -20 bp | +0.8% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 43.7% | -3 bp | -0.5% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 42.9% | -39 bp | +0.1% |
| EMSG | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 42.4% | -49 bp | -0.4% |
Risk and Returns: BKF vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BKF
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
BKF
7.3%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.3% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. BKF's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places BKF in the 48th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BKF
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| BKF (69 bp) Percentile rank | 76 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BKF | 69.0 | 24.2 | 93.2 |
| Peer Avg. | 57.1 | 44.2 | 101.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .