IAT
iShares U.S. Regional Banks ETF
iShares Dow Jones US Regional Banks Index Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones US Select Regional Banks Index.
US
EQUITY
Passive
MANAGEMENT STYLE
601.3 M
ASSETS UNDER MGMT
40 bp
EXPENSES
Fund Basics
| Fund sponsor | Barclays Global Fund Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | May 01, 2006 |
| Assets (mns) | $601 |
| Expense ratio | 40 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| 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 +
| US BANCORP | 15.0 % |
| PNC FINANCIAL SERVICES GROUP | 14.7 % |
| TRUIST FINANCIAL CORPORATION | 11.4 % |
| FIFTH THIRD BANCORP | 5.2 % |
| M & T BANK CORP | 5.1 % |
| HUNTINGTON BANCSHARES INC | 4.5 % |
| REGIONS FINANCIAL CORP | 4.4 % |
| CITIZENS FINANCIAL GROUP, INC. | 3.9 % |
| KEYCORP | 3.3 % |
| EAST WEST BANCORP INC | 2.6 % |
Constituent Breakdown
| Number of holdings | 34 |
| Herfindahl-Hirschman Index | 739 |
| Wgt avg mkt cap (mns) | $35,109 |
| Large cap (>$10bn) | 70.4% |
| Mid cap ($2-10bn) | 29.6% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 98.5 % |
 |
PUERTO RICO | 1.5 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.4% | 49.0% | 4.4% | -4.1% | 4.0% | 6.6% | 2.5% | Volatility | 22.9% | 27.2% | 31.9% | 30.7% | 37.2% | 29.9% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.88 | 25% |
| MSCI EAFE | 1.00 | 31% |
| MSCI Emg Mkts | 0.85 | 22% |
Liquidity Measures
| Avg. volume (000) | 278 |
| Turnover | 2.3% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $2,652 |
Technical Indicators
| Recent close | $48.89 |
| 30d moving avg. | $46.92 |
| Annualized volatility | 31.6% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 0.7% |
| Short interest (underlying) | 1.7% |
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. IAT |
Expenses vs. IAT |
ALTAR Score™ vs. IAT |
|---|---|---|---|---|
| FTXO | First Trust Nasdaq Bank ETF | 55.0% | +20 bp | -0.6% |
| KRE | SPDR S&P Regional Banking ETF | 50.2% | -5 bp | +0.0% |
| KBWB | Invesco KBW Bank ETF | 40.3% | -5 bp | -1.1% |
| KBE | SPDR S&P Bank ETF | 35.7% | -5 bp | -0.2% |
| KBWR | Invesco KBW Regional Banking ETF | 22.6% | -5 bp | -0.4% |
| DFNL | Davis Select Financial ETF | 20.3% | +23 bp | -2.4% |
| RDIV | Invesco S&P Ultra Dividend Revenue ETF | 20.1% | -1 bp | -0.4% |
| FOVL | iShares Focused Value Factor ETF | 18.5% | -15 bp | -0.3% |
| FXO | First Trust Financials AlphaDEX Fund | 18.0% | +22 bp | -1.6% |
| DVY | iShares Select Dividend ETF | 14.6% | -2 bp | -1.1% |
Risk and Returns: IAT 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 10/21/2024
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
IAT
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 Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
IAT
9.3%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 933 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. IAT's ALTAR Score™ is approximately
1.5 standard deviations
above
the category average. This places IAT in the 94th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
IATSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| IAT (40 bp) Percentile rank | 64 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IAT | 40.0 | 3.6 | 43.6 |
| Peer Avg. | 28.8 | 6.6 | 35.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .