ISZE
iShares Edge MSCI Intl Size Factor ETF
The iShares MSCI International Developed Size Factor ETF tracks an index of large- and midcap equities in developed markets outside the US. Stocks are selected by market cap and weighted inversely to price volatility.
Fund Basics
| Fund sponsor | BlackRock |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 16, 2015 |
| Assets (mns) | $15 |
| Expense ratio | 30 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Volatility |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| Vanguard Extended Duration Treasury Inde | 0.4 % |
| KAWASAKI KISEN KAISHA LTD | 0.2 % |
| DAITO TRUST CONSTRUCT CO LTD | 0.2 % |
| OCADO GROUP PLC | 0.2 % |
| HITACHI CONSTRUCTION MACHINE | 0.2 % |
| FUTU HOLDINGS LTD. SPONSORED ADR CLASS A | 0.2 % |
| MITSUI OSK LINES LTD | 0.2 % |
| CAMECO CORP | 0.2 % |
| ONEX CORPORATION | 0.2 % |
| CENTRICA PLC | 0.2 % |
Constituent Breakdown
| Number of holdings | 880 |
| Herfindahl-Hirschman Index | 12 |
| Wgt avg mkt cap (mns) | $12,188 |
| Large cap (>$10bn) | 32.8% |
| Mid cap ($2-10bn) | 39.5% |
| Small cap (<$2bn) | 0.4% |
| Developed mkts. | 99.7% |
| Emerging mkts. | 0.3% |
Country Exposure
 |
JAPAN | 28.1 % |
 |
CANADA | 9.4 % |
 |
BRITAIN | 8.8 % |
 |
AUSTRALIA | 6.2 % |
 |
GERMANY | 6.0 % |
 |
FRANCE | 5.9 % |
 |
SWITZERLAND | 4.5 % |
 |
SWEDEN | 3.7 % |
 |
HONG KONG | 3.2 % |
 |
NETHERLANDS | 3.0 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 9.2% | 13.8% | -5.2% | 3.9% | 2.5% | -- | 3.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.89 | 74% |
| MSCI EAFE | 1.00 | 97% |
| MSCI Emg Mkts | 0.83 | 64% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $33,898 |
Technical Indicators
| Recent close | $24.53 |
| 30d moving avg. | $25.28 |
| Annualized volatility | 18.5% |
| Relative strength (RSI) | 39 |
| 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. ISZE |
Expenses vs. ISZE |
ALTAR Score™ vs. ISZE |
|---|---|---|---|---|
| PXUS | Principal International Adaptive Multi-Factor ETF | 56.4% | -6 bp | +0.2% |
| GSIE | Goldman Sachs ActiveBeta International Equity ETF | 54.8% | -5 bp | +1.6% |
| EFA | iShares MSCI EAFE ETF | 50.0% | +2 bp | +0.4% |
| CIZ | VictoryShares Developed Enhanced Volatility Weighted Index E | 49.9% | +17 bp | +0.8% |
| CIL | VictoryShares International Volatility Weighted Index ETF | 49.7% | +15 bp | +0.7% |
| JHMD | John Hancock Multifactor Developed International ETF | 48.9% | +9 bp | +1.0% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 48.7% | -26 bp | +0.5% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 48.6% | +5 bp | +0.2% |
| EFAX | SPDR MSCI EAFE Fossil Fuel Free ETF | 48.3% | -10 bp | +0.3% |
| HFXI | IQ 50 Percent Hedged FTSE International ETF | 48.1% | -10 bp | +0.6% |
Risk and Returns: ISZE 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 9/26/2023
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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
ISZE
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™
ISZE
7.3%
Cat. Avg
8.2%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.3% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 271 funds in the International Equities category, with an average ALTAR Score™
of 8.2% and a standard deviation of
2.6%. ISZE's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places ISZE in the 37th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ISZE
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) |
|
|---|---|---|---|
| ISZE | 30.0 | 17.7 | 47.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .