IVLU
iShares MSCI Intl Value Factor ETF
The iShares MSCI International Developed Value Factor ETF tracks an index of large- and midcap developed ex-US equities, selected using fundamental metrics, and weighted by these metrics and market cap.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
30 bp
EXPENSES
$1.7 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | BlackRock |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 16, 2015 |
| Assets (mns) | $1,738 |
| Expense ratio | 30 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| BRITISH AMERICAN TOBACCO PLC | 2.3 % |
| NOVARTIS AG | 2.2 % |
| ROCHE HOLDING LTD | 2.1 % |
| TOYOTA MOTOR CORP | 2.0 % |
| HSBC HOLDINGS PLC | 2.0 % |
| SANOFI-AVENTIS | 2.0 % |
| SHELL PLC | 1.8 % |
| BANCO SANTANDER SA | 1.4 % |
| FIAT CHRYSLER AUTOMOBILES NV | 1.3 % |
| MITSUBISHI CORP | 1.2 % |
Constituent Breakdown
| Number of holdings | 352 |
| Herfindahl-Hirschman Index | 75 |
| Wgt avg mkt cap (mns) | $64,704 |
| Large cap (>$10bn) | 87.3% |
| Mid cap ($2-10bn) | 12.4% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 99.9% |
| Emerging mkts. | 0.1% |
Country Exposure
 |
JAPAN | 31.4 % |
 |
BRITAIN | 17.3 % |
 |
GERMANY | 10.8 % |
 |
FRANCE | 10.5 % |
 |
SWITZERLAND | 6.4 % |
 |
SPAIN | 3.2 % |
 |
ITALY | 3.1 % |
 |
CANADA | 3.0 % |
 |
NETHERLANDS | 2.3 % |
 |
AUSTRALIA | 2.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 1.2% | 7.8% | 13.3% | 4.9% | 6.3% | -- | 4.2% | Volatility | 12.3% | 13.0% | 16.3% | 16.5% | 20.1% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.70 | 56% |
| MSCI EAFE | 0.91 | 88% |
| MSCI Emg Mkts | 0.76 | 63% |
Liquidity Measures
| Avg. volume (000) | 280 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $24,018 |
Technical Indicators
| Recent close | $28.03 |
| 30d moving avg. | $28.03 |
| Annualized volatility | 16.9% |
| Relative strength (RSI) | 47 |
| 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. IVLU |
Expenses vs. IVLU |
ALTAR Score™ vs. IVLU |
|---|---|---|---|---|
| EFV | iShares MSCI EAFE Value ETF | 63.1% | +4 bp | -2.1% |
| PXF | Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 51.6% | +15 bp | -2.4% |
| FNDF | Schwab Fundamental International Large Co. Index ETF | 50.7% | -5 bp | -1.7% |
| IQIN | IQ 500 International ETF | 45.8% | -5 bp | -2.2% |
| VYMI | Vanguard International High Dividend Yield ETF | 43.9% | -8 bp | -1.4% |
| EFA | iShares MSCI EAFE ETF | 42.9% | +5 bp | -4.5% |
| DFIV | Dimensional International Value ETF | 42.4% | -3 bp | -1.2% |
| JHMD | John Hancock Multifactor Developed International ETF | 41.4% | +9 bp | -3.5% |
| QEFA | SPDR MSCI EAFE StrategicFactors ETF | 39.8% | 0 bp | -4.2% |
| FIVA | Fidelity International Value Factor ETF | 39.6% | -12 bp | -1.1% |
Risk and Returns: IVLU 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
IVLU
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™
IVLU
11.0%
Cat. Avg
7.2%
Fund Category: International
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 11.0% |
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 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. IVLU's ALTAR Score™ is approximately
1.6 standard deviations
above
the category average. This places IVLU in the 94th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IVLU
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 |
| IVLU (30 bp) Percentile rank | 30 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IVLU | 30.0 | 4.4 | 34.4 |
| Peer Avg. | 33.7 | 17.7 | 51.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .