IVEG
iShares Emergent Food and AgTech Multisector ETF
IVEG tracks an index of companies poised to benefit from the advancement of agricultural technologies or innovations in food products and services.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
47 bp
EXPENSES
$4.8 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Blackrock |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 25, 2022 |
| Assets (mns) | $5 |
| Expense ratio | 47 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ECOLAB INC | 4.8 % |
| INTL FLAVORS & FRAGRANCES | 4.7 % |
| INTERNATIONAL PAPER CO | 4.7 % |
| CORTEVA INC | 4.6 % |
| TRIMBLE NAVIGATION LTD | 4.5 % |
| PACKAGING CORP OF AMERICA | 4.4 % |
| KELLOGG CO | 4.0 % |
| DEERE & CO | 3.9 % |
| WATERS CORP | 3.9 % |
| DANONE | 3.8 % |
Constituent Breakdown
| Number of holdings | 33 |
| Herfindahl-Hirschman Index | 373 |
| Wgt avg mkt cap (mns) | $24,684 |
| Large cap (>$10bn) | 75.4% |
| Mid cap ($2-10bn) | 21.9% |
| Small cap (<$2bn) | 2.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 56.6 % |
 |
GERMANY | 9.3 % |
 |
BRITAIN | 6.4 % |
 |
NORWAY | 4.1 % |
 |
FRANCE | 3.8 % |
 |
JAPAN | 3.7 % |
 |
CANADA | 3.5 % |
 |
LUXEMBOURG | 2.4 % |
 |
FAROE ISLANDS | 0.9 % |
 |
NETHERLANDS | 0.5 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -7.6% | -7.4% | -5.2% | -- | -- | -- | -11.2% | Volatility | 13.1% | 14.7% | 18.4% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.13 | 80% |
| MSCI EAFE | 1.16 | 88% |
| MSCI Emg Mkts | 0.83 | 48% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.28% |
| ADV of underlying (mns) | $6,439 |
Technical Indicators
| Recent close | $19.29 |
| 30d moving avg. | $18.87 |
| Annualized volatility | 23.7% |
| Relative strength (RSI) | 45 |
| 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. IVEG |
Expenses vs. IVEG |
ALTAR Score™ vs. IVEG |
|---|---|---|---|---|
| FTAG | First Trust Indxx Global Agriculture ETF | 33.6% | +23 bp | +1.0% |
| MOO | VanEck Agribusiness ETF | 32.7% | +6 bp | +1.4% |
| VEGI | iShares MSCI Agriculture Producers ETF | 28.6% | -8 bp | +1.3% |
| RSPM | Invesco S&P 500 Equal Weight Materials ETF | 27.4% | -7 bp | -0.2% |
| KROP | Global X AgTech & Food Innovation ETF | 26.7% | +3 bp | -3.5% |
| XLB | Materials Select Sector SPDR Fund | 17.2% | -38 bp | -2.4% |
| FXZ | First Trust Materials AlphaDEX Fund | 15.9% | +14 bp | +2.0% |
| IYM | iShares U.S. Basic Materials ETF | 14.9% | -7 bp | -1.4% |
| VAW | Vanguard Materials ETF | 14.3% | -37 bp | -1.8% |
| HAP | VanEck Natural Resources ETF | 14.3% | +3 bp | +1.8% |
Risk and Returns: IVEG 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
IVEG
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™
IVEG
8.2%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 8.2% |
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 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. IVEG's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places IVEG in the 81st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IVEG
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 |
| IVEG (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) |
|
|---|---|---|---|
| IVEG | 47.0 | 28.1 | 75.1 |
| Peer Avg. | 56.7 | 40.3 | 97.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .