iShares MSCI Mexico ETF
ALTAR
Score™		 9.3% info Recommen-
dation		 NEUTRAL
2025E    2026E
P/E
ratio		 12.5x P/Sales
ratio		 1.2x
P/BV
ratio		 1.8x Div.
yield		 3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI Mexico Index fund seeks investment results that correspond to the price and yield performance of the MSCI Mexico Index. The index consists primarily of large cap stocks traded on the Mexican Stock Exchange.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Mar 12, 1996
Assets (mns) $1,909
Currency USD
Expense ratio 50 bp
Distributions Semi-Annually

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 40
Wgt avg mkt cap (mns) $20,273
Large cap (>$10bn) 53.3%
Mid cap ($2-10bn) 38.0%
Small cap (<$2bn) 8.7%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
GRUPO MEXICO S.A.B. DE C.V. CLASS 12.0 %
GRUPO FINANCIERO BANORTE-O 10.2 %
AMERICA MOVIL B 8.0 %
FOMENTO ECONOMICO MEXICANO SAB DE 6.8 %
WALMART DE MEXICO-SER V 6.7 %
CEMEX SAB-CPO 4.7 %
GRUPO AEROPORTUARIO DEL-B SH 4.4 %
INDUSTRIAS PENOLES SAB DE CV 4.3 %
GRUPO AEROPORTUARIO DE SUR-B 2.8 %
EMBOTELLADORAS ARCA SAB-NOM 2.7 %
Total 62.5 %

TOP COUNTRY EXPOSURE
MEXICO 91.4 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
48.8% 38.6% 13.6% 4.8% 8.7%

Market Correlations
versus... Beta R-squared
S&P500 0.58 23%
MSCI EAFE 0.86 36%
MSCI Emg. Mkts. 0.79 35%

Technical Indicators
Recent close $68.68
30d moving avg. $67.28
Annualized volatility 22.3%
Short interest (ETF) 8.9%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 1,390
Turnover 5.0%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $169

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 155 potential alternatives to the iShares MSCI Mexico ETF ETF based on the alternatives' overlap in portfolio holdings with EWW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWW Expense: 50 bp ALTAR Score™: 9.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWW
Ticker Fund
Name		 Overlap1
vs EWW
(%)		 Expense
ratio
(bp)		 Savings
vs EWW
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EWW
(%)
FLMX Franklin FTSE Mexico ETF 75.2 19 31 10.0 +0.7
FLLA Franklin FTSE Latin America ETF 29.3 19 31 12.8 +3.6
ILF iShares Latin America 40 ETF 21.7 48 2 11.9 +2.7
FLN First Trust Latin America AlphaDEX Fund 14.9 80 -30 11.8 +2.6
CRIT Optica Rare Earths & Critical Materials ETF Optica Rare Eart 11.6 85 -35 6.2 -3.1
EMDM First Trust Bloomberg Emerging Market Democracies ETF 11.4 75 -25 10.0 +0.8
OTGL OTG Latin America ETF 10.7 269 -219 8.5 -0.8
FTHF First Trust Emerging Markets Human Flourishing ETF 9.1 75 -25 9.1 -0.1
ICOP iShares Copper and Metals Mining ETF 8.4 47 3 7.4 -1.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 7.2 44 6 10.3 +1.1
GMET VanEck Green Metals ETF 6.7 63 -13 7.1 -2.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 6.1 70 -20 12.3 +3.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 6.0 90 -40 5.1 -4.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.6 32 18 6.3 -2.9
DSTX Distillate International Fundamental Stability & Value ETF 4.9 55 -5 7.6 -1.7
EDOG ALPS Emerging Sector Dividend Dogs ETF 4.7 60 -10 10.8 +1.5
BINV Brandes International ETF 4.4 70 -20 9.3 0.0
EDIV SPDR S&P Emerging Markets Dividend ETF 4.3 49 1 9.4 +0.1
SIL Global X Silver Miners ETF 4.3 65 -15 2.2 -7.1
SLVP iShares MSCI Global Silver Miners ETF 4.3 39 11 4.8 -4.5
AGMI Themes Silver Miners ETF 4.3 35 15 4.2 -5.1
XCEM Columbia EM Core ex-China ETF 4.3 16 34 7.6 -1.6
DMAT Global X Disruptive Materials ETF 4.2 59 -9 6.6 -2.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.8 58 -8 9.5 +0.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 3.7 24 26 7.3 -2.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 3.3 39 11 15.5 +6.3
RNEM First Trust Emerging Markets Equity Select ETF 3.3 75 -25 8.4 -0.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 3.1 59 -9 8.4 -0.8
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 3.1 33 17 9.4 +0.1
EMM Global X Emerging Markets ex-China ETF 3.0 75 -25 6.8 -2.5
XC WisdomTree Emerging Markets Ex-China Fund 2.9 32 18 5.7 -3.6
STXE Strive Emerging Markets Ex-China ETF 2.9 32 18 7.4 -1.8
JADE JPMorgan Active Developing Markets Equity ETF 2.8 65 -15 7.7 -1.6
GDXJ VanEck Junior Gold Miners ETF 2.8 52 -2 3.5 -5.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 2.8 29 21 8.8 -0.5
DEM WisdomTree Emerging Markets High Dividend Fund 2.7 63 -13 12.7 +3.4
XCNY SPDR S&P Emerging Markets ex-China ETF 2.7 15 35 7.2 -2.1
BATT Amplify Lithium & Battery Technology ETF 2.6 59 -9 1.9 -7.4
RWX SPDR Dow Jones International Real Estate ETF 2.5 59 -9 6.9 -2.4
EYLD Cambria Emerging Shareholder Yield ETF 2.5 66 -16 11.6 +2.3
LDEM iShares ESG MSCI EM Leaders ETF 2.4 17 33 12.8 +3.6
EMXC iShares MSCI Emerging Markets ex China ETF 2.4 25 25 6.9 -2.4
PXH Invesco FTSE RAFI Emerging Markets ETF 2.4 49 1 14.9 +5.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.4 32 18 8.5 -0.8
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.4 60 -10 7.9 -1.4
FEM First Trust Emerging Markets AlphaDEX Fund 2.3 80 -30 11.4 +2.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 2.2 15 35 7.4 -1.8
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.2 33 17 7.9 -1.3
PICK iShares MSCI Global Metals & Mining Producers ETF 2.2 39 11 10.6 +1.3
EMMF WisdomTree Emerging Markets Multifactor Fund 2.2 48 2 6.9 -2.3
NUEM Nuveen ESG Emerging Markets Equity ETF 2.2 36 14 7.2 -2.1
IQRA IQ CBRE Real Assets ETF 2.2 65 -15 5.7 -3.5
ECON Columbia Emerging Markets Consumer ETF 2.2 49 1 11.5 +2.2
EMXF iShares ESG Advanced MSCI EM ETF 2.1 16 34 7.9 -1.4
JHEM John Hancock Multifactor Emerging Markets ETF 2.1 49 1 9.4 +0.1
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 2.0 80 -30 14.2 +4.9
FDEM Fidelity Emerging Markets Multifactor ETF 2.0 25 25 12.2 +3.0
GDX VanEck Gold Miners ETF 2.0 51 -1 3.6 -5.7
AVES Avantis Emerging Markets Value ETF 2.0 36 14 10.5 +1.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.9 66 -16 9.0 -0.3
SCHE Schwab Emerging Markets Equity ETF 1.9 11 39 10.6 +1.3
VWO Vanguard FTSE Emerging Markets ETF 1.9 7 43 10.2 +0.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.9 15 35 9.5 +0.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.9 11 39 9.2 -0.0
AVEM Avantis Emerging Markets Equity ETF 1.9 33 17 8.1 -1.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.8 36 14 9.1 -0.2
EMC Global X Emerging Markets Great Consumer ETF 1.8 75 -25 8.6 -0.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 1.8 30 20 9.6 +0.3
MXI iShares Global Materials ETF 1.8 41 9 7.2 -2.0
SPEM SPDR Portfolio Emerging Markets ETF 1.8 7 43 10.4 +1.2
EEM iShares MSCI Emerging Markets ETF 1.7 69 -19 9.5 +0.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 1.7 35 15 12.5 +3.2
SDG iShares MSCI Global Sustainable Development Goals ETF 1.7 49 1 5.1 -4.1
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.7 67 -17 14.6 +5.4
VIDI Vident International Equity Strategy ETF 1.7 61 -11 10.3 +1.1
IEMG iShares Core MSCI Emerging Markets ETF 1.6 9 41 9.8 +0.5
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.6 53 -3 7.2 -2.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.6 45 5 9.6 +0.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 1.5 20 30 27,699.8 +27,690.6
FRDM Freedom 100 Emerging Markets ETF 1.4 49 1 7.3 -1.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.4 10 40 6.7 -2.6
ROAM Hartford Multifactor Emerging Markets ETF 1.4 44 6 11.2 +2.0
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.3 42 8 9.3 +0.0
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.3 41 9 8.1 -1.1
CGV Conductor Global Equity Value ETF 1.3 130 -80 7.7 -1.5
ESGE iShares ESG Aware MSCI EM ETF 1.3 25 25 9.7 +0.5
WWJD Inspire International ETF 1.3 80 -30 7.1 -2.1
EMGF iShares Emerging Markets Equity Factor ETF 1.3 25 25 10.8 +1.5
DFEV Dimensional Emerging Markets Value ETF 1.2 43 7 11.7 +2.5
DVYE iShares Emerging Markets Dividend ETF 1.2 49 1 18.1 +8.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.2 30 20 8.4 -0.8
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.2 70 -20 7.5 -1.7
DFAE Dimensional Emerging Core Equity Market ETF 1.2 35 15 8.6 -0.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.2 12 38 8.2 -1.1
AVSE Avantis Responsible Emerging Markets Equity ETF 1.2 33 17 7.8 -1.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 50 0 10.2 +1.0
KXI iShares Global Consumer Staples ETF 1.1 41 9 5.7 -3.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.1 38 12 8.6 -0.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.1 42 8 6.5 -2.7
HAP VanEck Natural Resources ETF 1.1 50 0 8.8 -0.5
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.0 47 3 5.8 -3.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.0 45 5 10.0 +0.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.0 47 3 7.7 -1.6
IQDF FlexShares International Quality Dividend Index Fund 1.0 47 3 8.4 -0.9
SDIV Global X Superdividend ETF 0.9 58 -8 16.7 +7.5
VYMI Vanguard International High Dividend Yield ETF 0.9 17 33 9.0 -0.3
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.9 88 -38 8.8 -0.5
SILJ ETFMG Prime Junior Silver Miners ETF 0.8 69 -19 0.6 -8.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.8 46 4 9.5 +0.3
MEM Matthews Emerging Markets Equity Active ETF 0.8 79 -29 7.3 -2.0
DEHP Dimensional Emerging Markets High Profitability ETF 0.8 41 9 6.4 -2.9
RWO SPDR Dow Jones Global Real Estate ETF 0.7 50 0 7.0 -2.2
EWX SPDR S&P Emerging Markets Small Cap ETF 0.7 65 -15 7.8 -1.4
EEMO Invesco S&P Emerging Markets Momentum ETF 0.7 29 21 7.5 -1.7
BLES Inspire Global Hope ETF 0.7 61 -11 6.8 -2.5
REET iShares Global REIT ETF 0.7 14 36 7.7 -1.6
FEOE First Eagle Overseas Equity ETF 0.6 79 -29 6.8 -2.4
JIVE JPMorgan International Value ETF 0.6 55 -5 10.7 +1.4
VSGX Vanguard ESG International Stock ETF 0.6 10 40 7.5 -1.8
DEW WisdomTree Global High Dividend Fund 0.6 58 -8 8.2 -1.1
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.6 18 32 7.3 -2.0
DFGR Dimensional Global Real Estate ETF 0.5 22 28 7.8 -1.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.5 4 46 7.6 -1.6
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.5 95 -45 11.7 +2.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.5 41 9 7.1 -2.1
VXUS Vanguard Total International Stock ETF 0.5 5 45 7.6 -1.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.5 34 16 7.3 -2.0
RCGE RockCreek Global Equality ETF 0.5 95 -45 6.6 -2.7
CWI SPDR MSCI ACWI ex-US ETF 0.5 30 20 7.3 -1.9
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 43 7.5 -1.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 20 7.4 -1.8
CCNR ALPS CoreCommodity Natural Resources ETF 0.5 39 11 8.3 -1.0
VGSR Vert Global Sustainable Real Estate ETF 0.5 47 3 7.7 -1.6
AVRE Avantis Real Estate ETF 0.4 17 33 7.4 -1.9
JETS U.S. Global Jets ETF 0.4 60 -10 2.7 -6.6
CGGR Capital Group Growth ETF 0.4 39 11 3.4 -5.9
FTAG First Trust Indxx Global Agriculture ETF 0.4 70 -20 8.4 -0.9
SCHY Schwab International Dividend Equity ETF 0.3 14 36 9.6 +0.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 38 4.9 -4.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.3 20 30 5.3 -3.9
FPAG FPA Global Equity ETF 0.3 49 1 5.6 -3.7
GEW Cambria Global EW ETF 0.2 29 21 5.9 -3.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 41 5.5 -3.8
IPKW Invesco International BuyBack Achievers ETF 0.2 55 -5 8.8 -0.5
VT Vanguard Total World Stock ETF 0.2 6 44 5.7 -3.6
ACWI iShares MSCI ACWI ETF 0.2 32 18 5.3 -3.9
IXG iShares Global Financials ETF 0.2 42 8 6.5 -2.7
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 8 42 7.1 -2.2
CGW Invesco S&P Global Water Index ETF 0.1 57 -7 4.7 -4.5
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 40 5.6 -3.7
GLOF iShares Global Equity Factor ETF 0.1 20 30 6.6 -2.6
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 25 6.3 -3.0
EXI iShares Global Industrials ETF 0.0 42 8 4.4 -4.9
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -39 4.8 -4.5
IGRO iShares International Dividend Growth ETF 0.0 15 35 6.9 -2.4

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 MSCI Mexico ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.7 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 9.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.64 CATEGORY
AVERAGE		 1.54
 
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.