EEM

iShares MSCI Emerging Markets ETF

The iShares MSCI Emerging Markets Index fund seeks investment results that correspond to the price and yield performance of the MSCI Emerging Markets Index. The index consists of the stocks in developing economies around the world.


Emerging Market

EQUITY

Passive

MANAGEMENT STYLE

69 bp

EXPENSES

$19.2 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorBarclays Global Investors
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateApr 07, 2003
Assets (mns)$19,247
Expense ratio69 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsSemi-Annually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
TAIWAN SEMICONDUCTOR MANUFAC 9.8 %
TENCENT HOLDINGS LTD 4.2 %
SAMSUNG ELECTRONICS CO LTD 3.7 %
ALIBABA GROUP HOLDING LTD. 1.9 %
RELIANCE INDUSTRIES LTD 1.4 %
HYNIX SEMICONDUCTOR INC 1.2 %
PINDUODUO, INC. SPONSORED ADR CLASS A 1.1 %
HON HAI PRECISION INDUSTRY 1.0 %
MEITUAN DIANPING 1.0 %
ICICI BANK LTD 1.0 %
Constituent Breakdown
Number of holdings1239
Herfindahl-Hirschman Index 150
Wgt avg mkt cap (mns)$152,924
Large cap (>$10bn)78.8%
Mid cap ($2-10bn)20.3%
Small cap (<$2bn)0.2%
Developed mkts.5.4%
Emerging mkts.94.6%
Country Exposure
CHINA 21.9 %
TAIWAN 19.0 %
INDIA 17.3 %
SOUTH KOREA 11.5 %
BRAZIL 4.1 %
SAUDI ARABIA 3.6 %
RUSSIA 2.8 %
SOUTH AFRICA 2.2 %
MEXICO 2.0 %
HONG KONG 1.6 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 3.8% 7.5% 4.2% -6.9% 1.6% 1.8% 8.1%
Volatility 13.8% 14.6% 17.2% 18.4% 22.2% 20.6% --
Market Correlations
versus...BetaR-squared
S&P 5000.6945%
MSCI EAFE0.8565%
MSCI Emg Mkts1.0499%
Liquidity Measures
Avg. volume (000)24,646
Turnover5.5%
Avg. Bid/Ask (% of price)0.03%
ADV of underlying (mns)$50,246
Technical Indicators
Recent close$43.16
30d moving avg.$43.00
Annualized volatility18.4%
Relative strength (RSI)53
Short interest (ETF)24.5%
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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Risk and Returns: EEM vs. Comps (1 YR)

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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 --%
1.3 12.0 1.6 2.7% --
Based on closing prices from 7/18/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
EEM



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™

EEM

6.6%

Cat. Avg

7.3%

Fund Category: Emerging

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™6.6%
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 7.3% and a standard deviation of 3.8%. EEM's ALTAR Score™ is approximately 0.2 standard deviations below the category average. This places EEM in the 43rd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
EEM
Peer Average
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
EEM (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)
EEM 69.0 2.6 71.6
Peer Avg. 57.1 44.2 101.4
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .