ETEC
iShares Breakthrough Environmental Solutions ETF
ETEC tracks an index of global companies involved in breakthrough innovations addressing climate transition. The fund selects stocks by utilizing an Adoption Curve that contributes to a companys aggregate score (sum of revenue earned from green technology and product innovation score). Holdings are market cap weighted in the index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
47 bp
EXPENSES
$3.3 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Blackrock |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 28, 2023 |
| Assets (mns) | $3 |
| Expense ratio | 47 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| UNIVERSAL DISPLAY CORP | 6.5 % |
| TESLA MOTORS INC | 5.9 % |
| BORGWARNER INC | 5.8 % |
| KURITA WATER INDUSTRIES LTD | 5.5 % |
| SAMSUNG SDI CO LTD | 5.5 % |
| YASKAWA ELECTRIC CORP | 5.3 % |
| JOHNSON MATTHEY PLC | 5.0 % |
| VOLTRONIC POWER TECHNOLOGY CORP. | 4.9 % |
| UMICORE | 4.0 % |
| TATUNG CO LTD | 3.5 % |
Constituent Breakdown
| Number of holdings | 45 |
| Herfindahl-Hirschman Index | 389 |
| Wgt avg mkt cap (mns) | $41,717 |
| Large cap (>$10bn) | 33.9% |
| Mid cap ($2-10bn) | 59.5% |
| Small cap (<$2bn) | 6.4% |
| Developed mkts. | 63.8% |
| Emerging mkts. | 36.2% |
Country Exposure
 |
UNITED STATES | 29.3 % |
 |
CHINA | 13.9 % |
 |
JAPAN | 13.0 % |
 |
TAIWAN | 11.0 % |
 |
SOUTH KOREA | 7.1 % |
 |
BRITAIN | 5.0 % |
 |
GERMANY | 4.6 % |
 |
BELGIUM | 4.1 % |
 |
FINLAND | 2.8 % |
 |
DENMARK | 2.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -15.1% | -20.1% | -- | -- | -- | -- | -14.0% | Volatility | 23.1% | 22.6% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.62 | 58% |
| MSCI EAFE | 1.70 | 78% |
| MSCI Emg Mkts | 1.91 | 82% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.40% |
| ADV of underlying (mns) | $22,686 |
Technical Indicators
| Recent close | $20.37 |
| 30d moving avg. | $20.93 |
| Annualized volatility | 30.3% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 1.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ETEC |
Expenses vs. ETEC |
ALTAR Score™ vs. ETEC |
|---|---|---|---|---|
| CTEC | Global X CleanTech ETF | 24.6% | +3 bp | -5.5% |
| ERTH | Invesco MSCI Sustainable Future ETF | 21.0% | +15 bp | -4.8% |
| SMOG | VanEck Low Carbon Energy ETF | 20.9% | +14 bp | -5.3% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 18.6% | +11 bp | -8.0% |
| IDRV | iShares Self-driving EV & Tech ETF | 17.8% | 0 bp | -8.4% |
| KARS | KraneShares Electric Vehicles & Future Mobility Index ETF | 17.7% | +25 bp | -7.9% |
| RNEW | VanEck Green Infrastructure ETF | 16.8% | -2 bp | -9.5% |
| SDG | iShares MSCI Global Sustainable Development Goals ETF | 16.2% | +2 bp | -2.4% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 13.0% | -2 bp | -2.2% |
| ACES | ALPS Clean Energy ETF | 13.0% | +8 bp | -11.3% |
Risk and Returns: ETEC 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
ETEC
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™
ETEC
8.0%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 8.0% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. ETEC's ALTAR Score™ is approximately
0.8 standard deviations
above
the category average. This places ETEC in the 80th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ETEC
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| ETEC (47 bp) Percentile rank | 32 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ETEC | 47.0 | 39.6 | 86.6 |
| Peer Avg. | 56.7 | 40.3 | 97.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .