ETF Research Center

iShares Large Cap Core Active ETF

ALTAR
Score™

3.1%

Recommen-
dation

UNDERWEIGHT

2025E 2026E
P/E ratio	29.4x	P/Sales ratio	1.7x
P/BV ratio	5.3x	Div. yield	0.9%

Description
Performance
Comps
Fundamentals
Valuation
Rating

iShares Large Cap Core Active ETF seeks to provide long-term capital appreciation by investing primarily in a diversified portfolio of large-cap U.S. equities while employing an active management strategy.

FUND BASICS
Category	US Equities
Fund Sponsor	iShares
Website	www.ishares.com/us/products/333889/ishares-large-cap-core-active-etf
Inception date	Oct 24, 2023
Assets (mns)	$109
Currency	USD
Expense ratio	36 bp
Distributions

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting
Index replication
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	36
Wgt avg mkt cap (mns)	$1,260,390
Large cap (>$10bn)	92.5%
Mid cap ($2-10bn)	6.0%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	0.0 %
	0.0 %

TOP COUNTRY EXPOSURE
		0.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru December 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
30.9%	30.9%	--	--	455.3%

Market Correlations
versus...	Beta	R-squared
S&P500	1.06	90%
MSCI EAFE	0.98	55%
MSCI Emg. Mkts.	0.91	54%

Technical Indicators
Recent close	$42.60
30d moving avg.	$41.69
Annualized volatility	14.6%
Short interest (ETF)	0.4%
Relative strength (RSI)	56

Liquidity measures
Avg. volume (thou.)	68
Turnover	2.7%
Bid/Ask (% of price)	0.14%
ADV underlying (mns)	$65,569

Distributions

There were no matches found with other funds under coverage.

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RESULTS & ESTIMATES

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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 Large Cap Core Active ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	18.3	%
Divided by: Fwd. P/BV	5.3	x
Less: Expense ratio	36	bp
Equals: ALTAR Score	3.1	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.46	CATEGORY AVERAGE	1.58

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.