IVRS
iShares Future Metaverse Tech and Communications ETF
IVRS tracks an index of equity securities from around the world that are expected to contribute to the metaverse.
Global
EQUITY
Passive
MANAGEMENT STYLE
47 bp
EXPENSES
$6.3 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Blackrock |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 16, 2023 |
| Assets (mns) | $6 |
| Expense ratio | 47 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | None |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| META PLATFORMS INC | 5.7 % |
| SONY CORP | 5.2 % |
| ROBLOX CORP. CLASS A | 5.1 % |
| AUTODESK INC | 5.0 % |
| KRAFTON, INC. | 4.8 % |
| ELECTRONIC ARTS INC | 4.7 % |
| PTC INC. | 4.5 % |
| NETEASE, INC | 4.5 % |
| ANSYS INC | 4.4 % |
| TAKE-TWO INTERACTIVE SOFTWRE | 4.3 % |
Constituent Breakdown
| Number of holdings | 41 |
| Herfindahl-Hirschman Index | 414 |
| Wgt avg mkt cap (mns) | $430,530 |
| Large cap (>$10bn) | 82.5% |
| Mid cap ($2-10bn) | 13.0% |
| Small cap (<$2bn) | 4.5% |
| Developed mkts. | 77.8% |
| Emerging mkts. | 22.2% |
Country Exposure
 |
UNITED STATES | 60.6 % |
 |
CHINA | 12.2 % |
 |
SOUTH KOREA | 9.6 % |
 |
FRANCE | 8.3 % |
 |
JAPAN | 5.4 % |
 |
SWITZERLAND | 3.9 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 0.3% | 11.3% | -- | -- | -- | -- | 21.4% | Volatility | 16.6% | 17.2% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.17 | 75% |
| MSCI EAFE | 0.88 | 52% |
| MSCI Emg Mkts | 1.12 | 70% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.30% |
| ADV of underlying (mns) | $108,989 |
Technical Indicators
| Recent close | $31.74 |
| 30d moving avg. | $33.11 |
| Annualized volatility | 19.2% |
| Relative strength (RSI) | 54 |
| 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. IVRS |
Expenses vs. IVRS |
ALTAR Score™ vs. IVRS |
|---|---|---|---|---|
| METV | Roundhill Ball Metaverse ETF | 41.5% | +12 bp | +7.3% |
| FMET | Fidelity Metaverse ETF | 41.3% | -8 bp | +9.0% |
| ARVR | First Trust Indxx Metaverse ETF | 39.0% | +23 bp | +5.6% |
| GGME | Invesco Next Gen Media and Gaming ETF | 31.2% | +13 bp | +7.8% |
| BWEB | Bitwise Web3 ETF | 30.3% | +38 bp | +4.8% |
| ESPO | VanEck Video Gaming and eSports ETF | 28.1% | +9 bp | +8.0% |
| VERS | ProShares Metaverse ETF | 27.2% | +11 bp | -12.1% |
| BNGE | First Trust S-Network Streaming and Gaming ETF | 26.7% | +23 bp | +1.8% |
| GAMR | Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T | 26.4% | +28 bp | +8.9% |
| HERO | Global X Video Games & Esports ETF | 24.4% | +3 bp | +8.2% |
Risk and Returns: IVRS 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
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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
IVRS
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™
IVRS
-3.9%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -3.9% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
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%. IVRS's ALTAR Score™ is approximately
1.6 standard deviations
below
the category average. This places IVRS in the 5th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IVRS
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive Global Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 50.8 bp |
| Std. Deviation | 22.4 bp |
| IVRS (47 bp) Percentile rank | 43 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IVRS | 47.0 | 30.4 | 77.4 |
| Peer Avg. | 56.7 | 40.3 | 97.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .