EPU

iShares MSCI Peru ETF

ETF.com segment: Equity: Peru - Total Market

Competing ETFs: N/A
Related ETF Channels: Emerging Markets, Latin America, Peru, Broad-based, Size and Style, Vanilla,
Equity, Total Market
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*Unless otherwise stated, data provided by FactSet.
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EPU Fund Description EPU Summary Data

EPU tracks a market-cap-weighted index of Peruvian firms. Issuer Blackrock

Brand iShares

EPU Factset Analytics Insight Inception Date 06/19/09

Legal Structure Open-Ended Fund

EPU offers good exposure to Peru given the constraints of its market and its Expense Ratio 0.59%
diversification needs. Because the Peruvian market is extremely top heavy (two firms
represent roughly 90% of the market cap), the market would be inaccessible in a Assets Under $159.31M
diversified fund. EPU holds a portfolio that meets the IRS's diversification Management
requirements at the expense of marketlike exposure. Although EPU has the big
exposure to basic materials firms that you would expect from the resource-rich Average Daily $ $2.13M
Volume
nation, the fund's financials exposure gets a haircut from the reduced stake in
Creditcorp at "only" about a fifth of the portfolio. The fund scores poorly for Fit for Average Spread (%) 0.13%
these reasons, but its exposure is as good as you will find in an ETF wrapper. EPU can
be traded fairly, although spreads can be significant at times. Underlying liquidity is
very poor, however: one creation unit represents a massive share of the underlying
market, so block trades will move those prices. While EPU's expense ratio is in line EPU Portfolio Data
with other single-country EM funds, tracking has been looser than we'd like and Weighted Average $9.74B
holding costs are likely to be higher than the headline fee. Market Cap

Price / Earnings Ratio 75.62

Price / Book Ratio 1.49

EPU MSCI ESG Analytics Insight

iShares MSCI Peru ETF has an MSCI ESG Fund Rating of B based on a score of 2.58 Distribution Yield 2.40%
out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-
Next Ex-Dividend Date 12/16/19
term risks and opportunities arising from environmental, social, and governance
factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds Number of Holdings 26
consist of companies that tend to show strong and/or improving management of
financially relevant environmental, social and governance issues. These companies
may be more resilient to disruptions arising from ESG events.
EPU Index Data
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score Index Tracked
against the scores of other funds within the same peer group, as defined by the
MSCI All Peru Capped Index
Thomson Reuters Lipper Global Classification. iShares MSCI Peru ETF ranks in the 5th
percentile within its peer group and in the 20th percentile within the global universe Index Weighting Market Cap
of all funds covered by MSCI ESG Fund Ratings. Methodology

Index Selection Market Cap

Methodology

Segment Benchmark MSCI Peru IMI

1 Year

Daily Price ($)

42.00

40.00

38.00

36.00

34.00

Oct Nov Dec `19 Feb Mar Apr May Jun Jul Aug Sep Volume
400k

PERFORMANCE [as of 09/09/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS

EPU -0.47% -4.97% -2.26% -1.58% 3.15% 0.79% 3.72%

EPU (NAV) -0.49% -4.15% -1.67% -1.46% 3.25% 0.85% 3.85%

MSCI All Peru Capped Index -0.46% -4.11% -1.06% -0.69% 3.79% 1.54% 3.85%

MSCI Peru IMI -- -- -2.24% 0.91% 11.00% 6.37% 5.78%

All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EPU Top 10 Countries

Peru 53.44%

United States 34.59%

Canada 6.04%

United Kingdom 3.84%

Chile 2.09%

EPU Top 10 Sectors

Basic Materials 48.13% Consumer Cyclicals 2.09%

Financials 27.38% Energy 0.86%

Consumer Non-Cyclicals 9.92%

Industrials 5.83%

Utilities 5.78%

EPU Top 10 Holdings

Credicorp Ltd. 23.37% EQUITY OTHER 4.12%

Compania de Minas Buen… 11.50% Hochschild Mining plc 3.95%

Southern Copper Corpora… 11.49% Luz del Sur SA 3.81%

Alicorp SAA 4.38% Ferreycorp SA 3.79%

InRetail Peru Corp. 4.30% Banco BBVA Peru 3.36%

Total Top 10 Weighting 74.07%

EPU Portfolio Management EPU Tax Exposures EPU Fund Structure

Expense Ratio 0.59% Max LT/ST Capital 20.00% / 39.60% Legal Structure Open-Ended Fund
Gains Rate
Median Tracking -0.32% OTC Derivative Use No
Difference (12 Mo) Capital Gains --
Distributions (3 Year) Securities Lending No
Max. Upside Deviation 0.45% Active
(12 Mo) Tax on Distributions Ordinary income
Securities Lending Split 80% / 20%
Max. Downside -0.84% Distributes K1 No (Fund/Issuer)
Deviation (12 Mo)
ETN Counterparty N/A

ETN Counterparty Risk N/A

Fund Closure Risk Low

Portfolio Disclosure Daily

Daily Spread EPU Factset Analytics Block Liquidity

0.8% As of 09/11/19

0.6% This measurement shows how easy it is

5
to trade a $1 million USD block of EPU.
4 EPU is rated a 2 out of 5.
0.4%
3
2
0.2%
1
0%

Premium/Discount
EPU Tradability
2.0%
Avg. Daily Share 59,596
Volume
1.0%
Average Daily $ $2.13M
0.0% Volume

Median Daily Share 53,272

-1.0%
Volume

-2.0% Median Daily Volume $1.80M

($)
Volume
400k
Average Spread (%) 0.13%
300k
200k
Average Spread ($) $0.05
100k

Median Premium / 0.07%

Discount (12 Mo)
Oct Nov `19 Mar May Jul Sep

Max. Premium / 1.23% / -1.50%

Discount (12 Mo)

Impediment to None
Creations

Market Hours Overlap 72.00%

Creation Unit Size 50,000

(Shares)

Creation Unit/Day (45 1.07

Day Average)

Creation Unit Cost (%) 0.09%

Underlying Volume / 40.78%

Unit

Open Interest on ETF 0

Options

Net Asset Value $34.26

(Yesterday)

ETF.com Implied 2
Liquidity
EPU Sector/Industry Breakdown EPU Top 10 Holdings EPU Performance Statistics

Segment Credicorp Ltd. 23.37% Goodness of Fit (R2) --

EPU Benchmark
Compania de Minas Buenaventura SAA Sponsored Beta --
Basic 48.13% 30.14% ADR 11.50%
Materials Up Beta --
Southern Copper 11.49%
Financials 27.38% 69.86% Corporation Down Beta --

Consumer 9.92% -- Alicorp SAA 4.38% Downside Standard 0.00%

Non- Deviation
InRetail Peru Corp. 4.30%
Cyclicals
Segment Benchmark MSCI Peru IMI
EQUITY OTHER 4.12%
Industrials 5.83% --

Hochschild Mining plc 3.95%

Utilities 5.78% --
EPU MSCI ESG Ratings
Luz del Sur SA 3.81%
Consumer 2.09% --
MSCI ESG Rating B
Cyclicals
Ferreycorp SA 3.79%
MSCI ESG Quality Score 2.58 / 10
Energy 0.86% --
Banco BBVA Peru 3.36%
Peer Group Percentile 20.41
Total Top 10 Weighting 74.07% Rank

Global Percentile Rank 4.90

EPU Countries SRI Screening Criteria --

Exposure
Segment
EPU Benchmark Exposure to 1.94%
Sustainable Impact
Peru 53.44% 16.20%
Solutions
United States 34.59% 83.80%
Weighted Average 440.15
Canada 6.04% -- Carbon Intensity (t
CO2e/$M Sales)
United Kingdom 3.84% --

Chile 2.09% --
EPU Benchmark Comparison Holdings

EPU Number of 26
Holdings
EPU Regions

Segment Benchmark 3
EPU Benchmark Constituents

Latin America 55.54% 16.20% Shared Holdings 3

North America 40.62% 83.80% Shared Holdings 47.00%

Weight
Europe 3.84% --

EPU Benchmark Comparison Summary

EPU Economic Development
Segment
Segment EPU Benchmark
EPU Benchmark
Number of 26 3
Emerging Countries 55.54% 16.20% Holdings

Developed Countries 44.46% 83.80% Weighted $9.74B $18.68B

Average
Market
Cap

Price / 75.62 18.13

Earnings
Ratio

Price / 1.49 2.27

Book Ratio

Dividend 2.74% 2.72%

Yield

Concentration High High

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