iShares Emerging Markets Infrastructure ETF
ALTAR
Score™		 2.9% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 9.7x P/Sales
ratio		 1.0x
P/BV
ratio		 1.0x Div.
yield		 5.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares S&P Emerging Markets Infrastructure Index Fund seeks investment results that correspond to the price and yield performance of the the S&P Emerging Markets Infrastructure Index Fund.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Jun 16, 2009
Assets (mns) $13
Currency USD
Expense ratio 60 bp
Distributions Semi-annual

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 30
Wgt avg mkt cap (mns) $9,585
Large cap (>$10bn) 28.3%
Mid cap ($2-10bn) 64.2%
Small cap (<$2bn) 1.6%
Developed mkts 21.4%
Emerging mkts 72.4%

TOP TEN HOLDINGS
GRUPO AEROPORTUARIO PAC-ADR 10.3 %
AIRPORTS OF THAILAND PC-NVDR 8.1 %
CIA SANEAMENTO BASICO DE-ADR 8.0 %
ADNOC DRILLING COMPANY PJSC 6.0 %
CENTRAIS ELEC BRAS-SP ADR CM 5.8 %
GRUPO AEROPORTUARIO SUR-ADR 5.6 %
QATAR GAS TRANSPORT(NAKILAT) 4.6 %
KOREA ELEC POWER CORP-SP ADR 4.1 %
CHINA SHIPPING DEVELOPMENT-H 3.8 %
GRUPO AEROPORTUARIO CEN-ADR 3.7 %
Total 59.9 %

TOP COUNTRY EXPOSURE
MEXICO 19.6 %
BRAZIL 16.2 %
CHINA 16.2 %
HONG KONG 13.5 %
THAILAND 8.1 %
ABU DHABI 6.0 %
QATAR 4.6 %
SOUTH KOREA 4.1 %
UNITED STATES 3.2 %
NORWAY 1.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
2.1% 22.7% 5.5% 2.4% 3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.63 24%
MSCI EAFE 0.63 38%
MSCI Emg. Mkts. 0.50 42%

Technical Indicators
Recent close $26.38
30d moving avg. $28.00
Annualized volatility 14.3%
Short interest (ETF) 1.0%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.8%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $348

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 169 potential alternatives to the iShares Emerging Markets Infrastructure ETF ETF based on the alternatives' overlap in portfolio holdings with EMIF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EMIF Expense: 60 bp ALTAR Score™: 2.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EMIF
Ticker Fund
Name		 Overlap1
vs EMIF
(%)		 Expense
ratio
(bp)		 Savings
vs EMIF
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EMIF
(%)
IGF iShares Global Infrastructure ETF 11.5 41 19 4.2 +1.4
BRAZ Global X Brazil Active ETF 7.8 75 -15 10.8 +8.0
TBLU Tortoise Global Water ESG ETF 4.8 40 20 4.6 +1.7
JIVE JPMorgan International Value ETF 4.7 55 5 8.4 +5.5
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 4.6 80 -20 6.9 +4.0
QAT iShares MSCI Qatar ETF 4.3 59 1 44.8 +41.9
THD iShares MSCI Thailand ETF 4.2 58 2 0.0 -2.9
SMOG VanEck Low Carbon Energy ETF 4.0 61 -1 1.2 -1.7
FCA First Trust China AlphaDEX Fund 3.7 80 -20 7.5 +4.6
GPT Intelligent Alpha Atlas ETF 3.3 69 -9 6.1 +3.3
BOAT SonicShares Global Shipping ETF 3.3 69 -9 21.3 +18.5
ABLD Abacus FCF Real Assets Leaders ETF 3.2 69 -9 6.7 +3.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 3.0 70 -10 9.5 +6.6
CNRG State Street SPDR S&P Kensho Clean Power ETF 3.0 45 15 -0.1 -2.9
UAE iShares MSCI UAE ETF 2.9 59 1 0.0 -2.9
OBOR KraneShares MSCI One Belt One Road Index ETF 2.7 79 -19 7.5 +4.6
AADR AdvisorShares Dorsey Wright ADR ETF 2.6 110 -50 3.1 +0.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 2.3 46 14 5.0 +2.2
VRAI Virtus Real Asset Income ETF 2.2 55 5 8.3 +5.4
FAN First Trust Global Wind Energy ETF 2.2 60 0 2.8 -0.1
VCLN Virtus Duff & Phelps Clean Energy ETF 2.1 59 1 2.2 -0.7
IDOG ALPS International Sector Dividend Dogs ETF 2.1 50 10 9.2 +6.3
EDOG ALPS Emerging Sector Dividend Dogs ETF 1.9 60 0 10.7 +7.9
ECNS iShares MSCI China Small-Cap ETF 1.9 59 1 9.2 +6.3
EBLU Ecofin Global Water ESG Fund 1.8 40 20 4.6 +1.7
KGRN KraneShares MSCI China Clean Technology Index ETF 1.7 79 -19 3.4 +0.5
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 1.7 79 -19 3.6 +0.8
RNRG Global X Renewable Energy Producers ETF 1.7 66 -6 4.3 +1.4
DVYE iShares Emerging Markets Dividend ETF 1.7 49 11 17.9 +15.1
AQWA Global X Clean Water ETF 1.7 50 10 5.1 +2.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 1.7 40 20 6.3 +3.4
FID First Trust S&P International Dividend Aristocrats ETF 1.6 60 0 7.8 +4.9
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.6 67 -7 12.8 +9.9
FRNW Fidelity Clean Energy ETF 1.5 39 21 1.7 -1.2
ILF iShares Latin America 40 ETF 1.5 48 12 10.0 +7.1
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.5 80 -20 6.7 +3.8
IQRA IQ CBRE Real Assets ETF 1.4 65 -5 5.9 +3.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 1.4 29 31 8.9 +6.0
AVEM Avantis Emerging Markets Equity ETF 1.3 33 27 7.0 +4.2
CCNR ALPS CoreCommodity Natural Resources ETF 1.3 39 21 8.1 +5.2
FIW First Trust Water ETF 1.3 53 7 5.1 +2.3
GXC SPDR S & P China ETF 1.2 59 1 18.6 +15.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.2 45 15 9.7 +6.8
WDIV SPDR S&P Global Dividend ETF 1.2 40 20 9.1 +6.2
EMMF WisdomTree Emerging Markets Multifactor Fund 1.2 48 12 8.4 +5.5
FLCH Franklin FTSE China ETF 1.2 19 41 18.0 +15.1
ASEA Global X FTSE Southeast Asia ETF 1.1 65 -5 5.5 +2.7
FEM First Trust Emerging Markets AlphaDEX Fund 1.1 80 -20 9.0 +6.1
AVES Avantis Emerging Markets Value ETF 1.0 36 24 8.9 +6.1
ABLG Abacus FCF International Leaders ETF 1.0 59 1 6.4 +3.6
MCHI iShares MSCI China ETF 1.0 59 1 20.2 +17.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.9 25 35 6.2 +3.3
PHO Invesco Water Resources ETF 0.9 60 0 5.1 +2.2
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -28 8.4 +5.5
AVSE Avantis Responsible Emerging Markets Equity ETF 0.9 33 27 6.6 +3.8
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.8 33 27 6.1 +3.2
SPEM SPDR Portfolio Emerging Markets ETF 0.8 7 53 9.5 +6.6
JETS U.S. Global Jets ETF 0.8 60 0 2.5 -0.3
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.8 35 25 10.0 +7.2
ICLN iShares Global Clean Energy ETF 0.8 41 19 1.7 -1.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.8 42 18 7.6 +4.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.7 47 13 5.0 +2.1
EMC Global X Emerging Markets Great Consumer ETF 0.7 75 -15 7.1 +4.2
DTEC ALPS Disruptive Technologies ETF 0.7 50 10 3.6 +0.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.7 30 30 7.6 +4.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.7 44 16 9.5 +6.7
EMM Global X Emerging Markets ex-China ETF 0.7 75 -15 4.7 +1.8
DEM WisdomTree Emerging Markets High Dividend Fund 0.7 63 -3 10.3 +7.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.7 38 22 7.0 +4.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.7 95 -35 10.0 +7.1
FTRI First Trust Indxx Global Natural Resources Income ETF 0.7 70 -10 6.7 +3.8
IQDF FlexShares International Quality Dividend Index Fund 0.7 47 13 7.6 +4.7
ROAM Hartford Multifactor Emerging Markets ETF 0.7 44 16 7.5 +4.6
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 19 6.9 +4.0
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.6 20 40 0.8 -2.1
APIE ActivePassive International Equity ETF 0.6 45 15 6.4 +3.6
BKF iShares MSCI BIC ETF 0.6 69 -9 14.9 +12.0
EDIV SPDR S&P Emerging Markets Dividend ETF 0.6 49 11 9.1 +6.2
DFAE Dimensional Emerging Core Equity Market ETF 0.6 35 25 7.0 +4.1
GMF SPDR S&P Emerging Asia Pacific ETF 0.6 49 11 8.6 +5.7
UIVM VictoryShares International Value Momentum ETF 0.6 35 25 8.2 +5.3
SHPP Pacer Industrials and Logistics ETF 0.6 60 0 6.6 +3.7
CVY Invesco Zacks Multi-Asset Income ETF 0.5 106 -46 10.0 +7.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.5 45 15 8.1 +5.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.5 47 13 7.2 +4.4
DEHP Dimensional Emerging Markets High Profitability ETF 0.5 41 19 4.8 +1.9
ERTH Invesco MSCI Sustainable Future ETF 0.5 62 -2 3.0 +0.1
HAP VanEck Natural Resources ETF 0.5 50 10 6.8 +3.9
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.5 58 2 8.4 +5.5
SCHE Schwab Emerging Markets Equity ETF 0.4 11 49 9.5 +6.7
JSTC Adasina Social Justice All Cap Global ETF 0.4 89 -29 4.3 +1.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.4 39 21 13.7 +10.8
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.4 53 7 5.1 +2.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.4 50 10 8.1 +5.2
PXH Invesco FTSE RAFI Emerging Markets ETF 0.4 49 11 13.4 +10.6
EEMO Invesco S&P Emerging Markets Momentum ETF 0.4 29 31 6.6 +3.7
XCEM Columbia EM Core ex-China ETF 0.4 16 44 4.9 +2.0
LDEM iShares ESG MSCI EM Leaders ETF 0.4 17 43 12.9 +10.0
VIDI Vident International Equity Strategy ETF 0.4 61 -1 8.1 +5.2
EEMA iShares MSCI Emerging Markets Asia ETF 0.4 49 11 7.5 +4.6
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.4 15 45 8.0 +5.1
BKEM BNY Mellon Emerging Markets Equity ETF 0.4 11 49 7.9 +5.0
VWO Vanguard FTSE Emerging Markets ETF 0.4 7 53 9.2 +6.3
NUEM Nuveen ESG Emerging Markets Equity ETF 0.4 36 24 6.1 +3.2
FLAX Franklin FTSE Asia Ex Japan ETF 0.4 19 41 7.1 +4.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.4 36 24 7.6 +4.7
JHEM John Hancock Multifactor Emerging Markets ETF 0.3 49 11 7.5 +4.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.3 66 -6 7.2 +4.3
TTAI FCF International Quality ETF 0.3 59 1 6.8 +3.9
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 11 4.5 +1.6
EEM iShares MSCI Emerging Markets ETF 0.3 69 -9 7.8 +4.9
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 0.3 69 -9 7.4 +4.5
DFEV Dimensional Emerging Markets Value ETF 0.3 43 17 9.4 +6.5
IEMG iShares Core MSCI Emerging Markets ETF 0.3 9 51 8.2 +5.3
ACWV iShares MSCI Global Min Vol Factor ETF 0.3 20 40 5.7 +2.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.3 70 -10 6.9 +4.0
TRFM AAM Transformers ETF 0.3 49 11 1.0 -1.9
FDEM Fidelity Emerging Markets Multifactor ETF 0.3 25 35 10.4 +7.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.3 30 30 8.0 +5.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.3 59 1 8.6 +5.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 30 6.4 +3.5
VYMI Vanguard International High Dividend Yield ETF 0.2 17 43 8.1 +5.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.2 70 -10 6.5 +3.6
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.2 46 14 7.8 +4.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 40 4.7 +1.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.2 33 27 6.7 +3.9
EMXF iShares ESG Advanced MSCI EM ETF 0.2 16 44 6.7 +3.9
XCNY SPDR S&P Emerging Markets ex-China ETF 0.2 15 45 5.7 +2.8
EMXC iShares MSCI Emerging Markets ex China ETF 0.2 25 35 5.1 +2.2
RNEM First Trust Emerging Markets Equity Select ETF 0.2 75 -15 8.2 +5.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.2 24 36 5.2 +2.4
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 30 6.5 +3.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.1 15 45 8.8 +6.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 19 6.0 +3.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 42 6.4 +3.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 56 6.7 +3.9
VXUS Vanguard Total International Stock ETF 0.1 5 55 6.7 +3.8
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 26 6.4 +3.5
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 53 6.6 +3.7
VEXC Vanguard Emerging Markets Ex-China ETF 0.1 7 53 5.7 +2.9
EXI iShares Global Industrials ETF 0.1 42 18 3.6 +0.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 28 4.8 +2.0
XT iShares Exponential Technologies ETF 0.1 46 14 3.8 +1.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.1 39 21 7.0 +4.1
GINN Goldman Sachs Innovate Equity ETF 0.1 52 8 3.7 +0.8
FRDM Freedom 100 Emerging Markets ETF 0.1 49 11 5.3 +2.5
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.1 80 -20 9.3 +6.5
ACWI iShares MSCI ACWI ETF 0.0 32 28 4.6 +1.8
VT Vanguard Total World Stock ETF 0.0 6 54 5.0 +2.1
GLOF iShares Global Equity Factor ETF 0.0 20 40 5.6 +2.7
EWX SPDR S&P Emerging Markets Small Cap ETF 0.0 65 -5 6.5 +3.6
SPDW SPDR Portfolio Developed World ex-US ETF 0.0 3 57 5.8 +3.0
VSGX Vanguard ESG International Stock ETF 0.0 10 50 6.6 +3.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 51 4.9 +2.0
IQSI IQ Candriam International Equity ETF 0.0 15 45 5.6 +2.7
EMGF iShares Emerging Markets Equity Factor ETF 0.0 25 35 8.8 +6.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 15 6.8 +3.9
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 35 7.4 +4.5
AQLT iShares MSCI Global Quality Factor ETF 0.0 18 42 0.0 -2.9
DEW WisdomTree Global High Dividend Fund 0.0 58 2 7.2 +4.4
BKIE BNY Mellon International Equity ETF 0.0 4 56 6.0 +3.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 40 5.9 +3.0
DFIS Dimensional International Small Cap ETF 0.0 39 21 6.1 +3.3
SPEU SPDR Portfolio Europe ETF 0.0 7 53 6.5 +3.6
DXIV Dimensional International Vector Equity ETF 0.0 34 26 6.6 +3.7
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.0 58 2 3.4 +0.5
DFAI Dimensional International Core Equity Market ETF 0.0 18 42 6.1 +3.2
DFIC Dimensional International Core Equity 2 ETF 0.0 23 37 6.3 +3.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 21 6.2 +3.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 iShares Emerging Markets Infrastructure ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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 not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 3.3 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 2.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 CATEGORY
AVERAGE		 1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.