ESGE
iShares ESG Aware MSCI EM ETF
ESGE an index composed of large- and mid-capitalization emerging market equities that have positive environmental, social and governance characteristics.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
25 bp
EXPENSES
$4.2 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | BlackRock |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 28, 2016 |
| Assets (mns) | $4,203 |
| Expense ratio | 25 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Principles-based |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 10.5 % |
| SAMSUNG ELECTRONICS CO LTD | 4.0 % |
| TENCENT HOLDINGS LTD | 3.6 % |
| RELIANCE INDUSTRIES LTD | 1.8 % |
| ALIBABA GROUP HOLDING LTD. | 1.7 % |
| INFOSYS TECHNOLOGIES LTD | 1.4 % |
| CHINA CONSTRUCTION BANK-H | 1.3 % |
| ICICI BANK LTD | 1.3 % |
| FIRST FINANCIAL HOLDING CO | 1.3 % |
| LUKOIL OAO | 1.3 % |
Constituent Breakdown
| Number of holdings | 317 |
| Herfindahl-Hirschman Index | 191 |
| Wgt avg mkt cap (mns) | $155,194 |
| Large cap (>$10bn) | 76.8% |
| Mid cap ($2-10bn) | 23.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 6.0% |
| Emerging mkts. | 94.0% |
Country Exposure
 |
CHINA | 20.9 % |
 |
TAIWAN | 20.4 % |
 |
INDIA | 17.4 % |
 |
SOUTH KOREA | 11.8 % |
 |
BRAZIL | 3.6 % |
 |
RUSSIA | 3.6 % |
 |
SAUDI ARABIA | 3.0 % |
 |
SOUTH AFRICA | 2.5 % |
 |
MALAYSIA | 2.4 % |
 |
THAILAND | 2.2 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 3.2% | 6.6% | 3.4% | -7.6% | 1.7% | -- | 5.0% | Volatility | 14.4% | 15.1% | 17.6% | 18.6% | 21.9% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.70 | 45% |
| MSCI EAFE | 0.86 | 63% |
| MSCI Emg Mkts | 1.05 | 98% |
Liquidity Measures
| Avg. volume (000) | 674 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $18,767 |
Technical Indicators
| Recent close | $33.04 |
| 30d moving avg. | $34.14 |
| Annualized volatility | 18.8% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| 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. ESGE |
Expenses vs. ESGE |
ALTAR Score™ vs. ESGE |
|---|---|---|---|---|
| EEM | iShares MSCI Emerging Markets ETF | 57.4% | +44 bp | -0.5% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 56.5% | +5 bp | 0.0% |
| LDEM | iShares ESG MSCI EM Leaders ETF | 55.6% | -8 bp | +0.1% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 54.5% | +24 bp | -0.8% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 52.7% | +45 bp | -1.1% |
| EMSG | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 52.3% | -5 bp | -0.5% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 52.2% | +41 bp | -0.6% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 50.4% | -10 bp | -0.1% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 49.8% | -16 bp | +0.1% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 49.7% | -14 bp | +0.1% |
Risk and Returns: ESGE 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
ESGE
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™
ESGE
7.4%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.4% |
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%. ESGE's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places ESGE in the 49th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ESGE
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| ESGE (25 bp) Percentile rank | 9 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ESGE | 25.0 | 3.3 | 28.3 |
| Peer Avg. | 51.1 | 47.0 | 98.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .