IEUR
iShares Core MSCI Europe ETF
The iShares Core MSCI Europe ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the investment results of an index composed of European region developed market large, mid and small capitalization equities.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
11 bp
EXPENSES
$4.6 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | BlackRock Fund Advisors |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 10, 2014 |
| Assets (mns) | $4,633 |
| Expense ratio | 11 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Semi-Annually |
| 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 +
| NOVO NORDISK A/S-B | 3.5 % |
| ASML HOLDING NV | 2.9 % |
| NESTLE SA-REG | 2.3 % |
| ASTRAZENECA PLC | 1.9 % |
| SHELL PLC | 1.9 % |
| ROCHE HOLDING LTD | 1.8 % |
| NOVARTIS AG | 1.7 % |
| SAP AG | 1.7 % |
| LVMH MOET HENNESSY LOUIS VUI | 1.6 % |
| HSBC HOLDINGS PLC | 1.3 % |
Constituent Breakdown
| Number of holdings | 1010 |
| Herfindahl-Hirschman Index | 78 |
| Wgt avg mkt cap (mns) | $117,535 |
| Large cap (>$10bn) | 85.6% |
| Mid cap ($2-10bn) | 11.9% |
| Small cap (<$2bn) | 2.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
BRITAIN | 23.0 % |
 |
SWITZERLAND | 15.0 % |
 |
FRANCE | 14.8 % |
 |
GERMANY | 12.3 % |
 |
NETHERLANDS | 7.7 % |
 |
DENMARK | 5.6 % |
 |
SWEDEN | 5.2 % |
 |
SPAIN | 4.0 % |
 |
ITALY | 4.0 % |
 |
FINLAND | 1.5 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 1.8% | 7.5% | 13.8% | 1.9% | 6.4% | -- | 4.1% | Volatility | 12.8% | 13.4% | 18.1% | 18.4% | 21.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.96 | 76% |
| MSCI EAFE | 1.11 | 96% |
| MSCI Emg Mkts | 0.84 | 56% |
Liquidity Measures
| Avg. volume (000) | 863 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.02% |
| ADV of underlying (mns) | $25,273 |
Technical Indicators
| Recent close | $57.27 |
| 30d moving avg. | $57.91 |
| Annualized volatility | 19.8% |
| Relative strength (RSI) | 52 |
| 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)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. IEUR |
Expenses vs. IEUR |
ALTAR Score™ vs. IEUR |
|---|---|---|---|---|
| SPEU | SPDR Portfolio Europe ETF | 91.8% | -4 bp | -0.1% |
| VGK | Vanguard FTSE Europe ETF | 90.4% | 0 bp | +0.0% |
| IEV | iShares Europe ETF | 85.5% | +56 bp | -0.5% |
| DBEU | Xtrackers MSCI Europe Hedged Equity ETF | 80.8% | +35 bp | -0.1% |
| BBEU | JPMorgan BetaBuilders Europe ETF | 79.3% | -2 bp | +0.3% |
| FLEE | Franklin FTSE Europe ETF | 79.0% | -2 bp | +0.3% |
| GSEU | Goldman Sachs ActiveBeta Europe Equity ETF | 65.5% | +14 bp | +0.3% |
| EFA | iShares MSCI EAFE ETF | 64.8% | +24 bp | -0.1% |
| EFAX | SPDR MSCI EAFE Fossil Fuel Free ETF | 64.4% | +9 bp | -0.6% |
| IEFA | iShares Core MSCI EAFE ETF | 61.4% | -4 bp | +0.1% |
Risk and Returns: IEUR 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
IEUR
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™
IEUR
6.6%
Cat. Avg
7.2%
Fund Category: International
| 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 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. IEUR's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places IEUR in the 41st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IEUR
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| IEUR (11 bp) Percentile rank | 10 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IEUR | 11.0 | 2.0 | 13 |
| Peer Avg. | 33.7 | 17.7 | 51.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .