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.
Fund Basics
| Fund sponsor | Barclays Global Fund Advisors |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | May 01, 2006 |
| Assets (mns) | $624 |
| 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 | 14.4 % |
| PNC FINANCIAL SERVICES GROUP | 13.8 % |
| TRUIST FINANCIAL CORPORATION | 11.2 % |
| FIFTH THIRD BANCORP | 5.6 % |
| M & T BANK CORP | 4.7 % |
| HUNTINGTON BANCSHARES INC | 4.5 % |
| FIRST CITIZENS BCSHS -CL A | 4.3 % |
| REGIONS FINANCIAL CORP | 4.0 % |
| CITIZENS FINANCIAL GROUP, INC. | 3.7 % |
| KEYCORP | 3.2 % |
Constituent Breakdown
| Number of holdings | 35 |
| Herfindahl-Hirschman Index | 711 |
| Wgt avg mkt cap (mns) | $32,638 |
| Large cap (>$10bn) | 70.6% |
| Mid cap ($2-10bn) | 28.8% |
| Small cap (<$2bn) | 0.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 98.6 % |
 |
PUERTO RICO | 1.4 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 4.4% | 28.4% | -10.3% | -5.1% | 3.5% | 4.9% | 1.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.82 | 23% |
| MSCI EAFE | 0.98 | 31% |
| MSCI Emg Mkts | 0.80 | 22% |
Liquidity Measures
| Avg. volume (000) | 217 |
| Turnover | 1.5% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $2,775 |
Technical Indicators
| Recent close | $41.89 |
| 30d moving avg. | $36.91 |
| Annualized volatility | 30.2% |
| Relative strength (RSI) | 75 |
| Short interest (ETF) | 1.0% |
| 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 | 59.7% | +20 bp | -0.4% |
| KBE | SPDR S&P Bank ETF | 42.0% | -5 bp | +0.5% |
| KRE | SPDR S&P Regional Banking ETF | 41.1% | -5 bp | +0.8% |
| KBWB | Invesco KBW Bank ETF | 40.2% | -5 bp | -1.6% |
| FXO | First Trust Financials AlphaDEX Fund | 22.6% | +22 bp | -1.5% |
| KBWR | Invesco KBW Regional Banking ETF | 21.8% | -5 bp | -0.2% |
| RDIV | Invesco S&P Ultra Dividend Revenue ETF | 18.5% | -1 bp | -0.1% |
| DFNL | Davis Select Financial ETF | 18.4% | +23 bp | -3.9% |
| RSPF | Invesco S&P 500 Equal Weight Financials ETF | 14.0% | 0 bp | -3.6% |
| DVY | iShares Select Dividend ETF | 13.9% | -2 bp | -1.6% |
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 4/23/2024
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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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
IAT
10.7%
Cat. Avg
5.8%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 10.7% |
Recommendation
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.
Category Overview
There are 887 funds in the US Equities category, with an average ALTAR Score™
of 5.8% and a standard deviation of
2.7%. IAT's ALTAR Score™ is approximately
1.8 standard deviations
above
the category average. This places IAT in the 97th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IAT
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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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. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .