IQ Chaikin U.S. Small Cap ETF
ALTAR
Score™		 3.8% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 -121.3x P/Sales
ratio		 0.9x
P/BV
ratio		 1.4x Div.
yield		 2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The IQ Chaikin U.S. Small Cap ETF tracks an equal-weighted index of small US companies selected by value, growth, technical, and sentiment factors.

FUND BASICS
Category US Equities
Fund Sponsor IndexIQ
Website www.nylinvestments.com
Inception date May 15, 2017
Assets (mns) $138
Currency USD
Expense ratio 35 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 482
Wgt avg mkt cap (mns) $1,422
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 24.6%
Small cap (<$2bn) 75.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DULUTH HOLDINGS, INC. CLASS B 0.6 %
BRINKER INTERNATIONAL INC 0.6 %
DOMO, INC. CLASS B 0.6 %
SLEEP NUMBER CORPORATION 0.5 %
OPKO HEALTH INC 0.5 %
MR. COOPER GROUP, INC. 0.5 %
LITHIA MOTORS INC-CL A 0.5 %
CENTURY COMMUNITIES INC 0.5 %
CALIX INC 0.5 %
MERITAGE HOMES CORP 0.4 %
Total 5.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.7 %
NETHERLANDS 0.6 %
PUERTO RICO 0.4 %
BERMUDA 0.4 %
LUXEMBOURG 0.3 %
IRELAND 0.2 %
CAYMAN ISLANDS 0.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-18.4% -11.0% -- -- -2.3%

Market Correlations
versus... Beta R-squared
S&P500 1.37 84%
MSCI EAFE 1.47 80%
MSCI Emg. Mkts. 1.09 69%

Technical Indicators
Recent close $23.56
30d moving avg. $22.99
Annualized volatility 26.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.1%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $6,572

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the IQ Chaikin U.S. Small Cap ETF ETF based on the alternatives' overlap in portfolio holdings with CSML. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CSML Expense: 35 bp ALTAR Score™: 3.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CSML
Ticker Fund
Name		 Overlap1
vs CSML
(%)		 Expense
ratio
(bp)		 Savings
vs CSML
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs CSML
(%)
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 36.5 35 0 7.7 +3.8
TPSC Timothy Plan US Small Cap Core ETF 35.8 52 -17 7.8 +4.0
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 33.5 40 -5 7.1 +3.3
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 33.0 29 6 5.7 +1.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 32.9 29 6 4.9 +1.1
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 32.3 35 0 7.8 +4.0
EES WisdomTree SmallCap Earnings Fund 31.8 38 -3 10.0 +6.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 31.7 20 15 4.7 +0.9
FYX First Trust Small Cap Core AlphaDEX Fund 31.5 63 -28 6.0 +2.2
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 31.5 29 6 0.2 -3.6
VIOO Vanguard S&P Small-Cap 600 ETF 30.4 10 25 6.8 +3.0
SLY SPDR S&P 600 Small Cap ETF 30.1 15 20 6.8 +3.0
SPSM SPDR Portfolio Small Cap ETF 30.1 5 30 6.9 +3.1
IJR iShares Core S&P Small Cap ETF 30.1 6 29 6.9 +3.1
IWN iShares Russell 2000 Value ETF 29.4 24 11 6.7 +2.8
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 28.7 12 23 7.4 +3.6
STSB iShares Factors US Small Blend Style ETF 28.4 35 0 3.6 -0.2
PSC Principal U.S. Small Cap Index ETF 27.8 38 -3 6.7 +2.9
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 26.9 24 11 6.4 +2.6
IWM iShares Russell 2000 ETF 26.7 19 16 3.3 -0.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 26.5 30 5 7.4 +3.6
VTWO Vanguard Russell 2000 Index Fund 26.3 10 25 3.5 -0.3
ROGS Hartford Multifactor Global Small Cap ETF 25.6 34 1 8.0 +4.2
DES WisdomTree U.S. SmallCap Dividend Fund 25.5 38 -3 8.3 +4.5
SSLY Syntax Stratified SmallCap ETF 25.2 30 5 6.4 +2.6
VIOV Vanguard S&P Small-Cap 600 Value ETF 25.0 15 20 8.7 +4.9
IJS iShares S&P Small-cap 600 Value ETF 24.9 25 10 8.7 +4.9
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 24.8 39 -4 4.5 +0.7
SLYV SPDR S&P 600 Small Cap Value ETF 24.8 15 20 8.6 +4.8
RWJ Invesco S&P SmallCap 600 Revenue ETF 24.5 39 -4 6.8 +3.0
RNSC Small Cap US Equity Select ETF 23.7 60 -25 6.9 +3.1
IUSS Invesco Strategic US Small Company ETF 23.7 23 12 5.1 +1.2
FNDA Schwab Fundamental U.S. Small Co. Index ETF 23.4 25 10 7.2 +3.3
AFSM First Trust Active Factor Small Cap ETF 23.4 75 -40 5.4 +1.6
AVUV Avantis U.S. Small Cap Value ETF 22.8 25 10 7.8 +4.0
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 22.5 35 0 5.8 +2.0
VTWV Vanguard Russell 2000 Value Index Fund 22.2 15 20 6.8 +3.0
FSMD Fidelity Small-Mid Factor ETF 21.6 29 6 6.1 +2.3
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 21.5 39 -4 6.4 +2.6
SLYG SPDR S&P 600 Small Cap Growth ETF 21.4 15 20 5.3 +1.5
IJT iShares S&P Small-Cap 600 Growth ETF 21.3 25 10 5.4 +1.6
FYT First Trust Small Cap Value AlphaDEX Fund 21.3 72 -37 9.3 +5.5
SCHA Schwab U.S. Small-Cap ETF 21.2 4 31 4.7 +0.9
VIOG Vanguard S&P Small-Cap 600 Growth ETF 21.1 16 19 5.2 +1.4
IWC iShares Micro-Cap ETF 20.9 60 -25 -3.9 -7.7
ISMD Inspire Small/Mid Cap Impact ETF 20.7 60 -25 4.8 +1.0
SQLV Legg Mason Small-Cap Quality Value 20.2 62 -27 6.2 +2.4
IWO iShares Russell 2000 Growth ETF 19.8 24 11 -0.1 -3.9
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 18.1 38 -3 8.4 +4.5
VFMF Vanguard U.S. Multifactor ETF 18.0 19 16 7.2 +3.4
VTWG Vanguard Russell 2000 Growth Index Fund 17.9 15 20 0.1 -3.7
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 17.7 17 18 4.7 +0.9
FYC First Trust Small Cap Growth AlphaDEX Fund 17.4 70 -35 1.8 -2.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 17.0 6 29 5.0 +1.2
NUSC Nuveen ESG Small-Cap ETF 16.0 40 -5 4.7 +0.9
BKSE BNY Mellon US Small Cap Core Equity ETF 15.1 4 31 5.6 +1.8
BFOR Barron's 400 ETF 14.9 65 -30 6.4 +2.5
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 14.5 20 15 4.6 +0.8
VBR Vanguard Small Cap Value Index Fund 14.4 7 28 7.9 +4.1
VFQY Vanguard U.S. Quality Factor ETF 14.1 13 22 6.2 +2.4
VFVA Vanguard U.S. Value Factor ETF 13.2 14 21 10.8 +6.9
VFLQ Vanguard U.S. Liquidity Factor ETF 12.7 14 21 4.1 +0.3
DWAS Invesco DWA SmallCap Momentum ETF 12.5 60 -25 -2.0 -5.8
FAB First Trust Multi Cap Value AlphaDEX Fund 12.4 71 -36 9.4 +5.6
XSVM Invesco S&P SmallCap Value with Momentum ETF 12.2 39 -4 9.0 +5.2
PXSG Invesco S&P SmallCap Momentum ETF 11.8 39 -4 3.7 -0.1
RZG Invesco S&P Smallcap 600 Pure Growth ETF 11.7 35 0 5.7 +1.9
EWMC Invesco S&P MidCap 400 Equal Weight ETF 11.6 40 -5 7.1 +3.3
EZM WisdomTree U.S. MidCap Earnings Fund 11.2 38 -3 8.6 +4.8
VB Vanguard Small-Cap ETF 11.2 5 30 5.2 +1.4
VUSE Vident Core US Equity Fund 11.1 48 -13 8.7 +4.9
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 11.1 20 15 9.0 +5.2
XSHQ Invesco S&P SmallCap Quality ETF 11.1 29 6 6.6 +2.8
JKJ iShares Morningstar Small-Cap ETF 10.8 25 10 6.3 +2.5
CALF Pacer US Small Cap Cash Cows 100 ETF 10.3 59 -24 8.8 +5.0
JKL iShares Morningstar Small Cap Value ETF 10.1 30 5 9.8 +6.0
SMDY Syntax Stratified MidCap ETF 10.1 30 5 6.6 +2.8
FAD First Trust Multi Cap Growth AlphaDEX Fund 9.9 66 -31 2.2 -1.6
PSCF Invesco S&P SmallCap Financials ETF 9.7 29 6 11.0 +7.2
JSML Janus Henderson Small Cap Growth Alpha ETF 9.7 30 5 7.9 +4.1
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 9.7 35 0 9.9 +6.0
VXF Vanguard Extended Market Index Fund 9.7 6 29 3.5 -0.3
FNX First Trust Mid Cap Core AlphaDEX Fund 9.7 61 -26 6.3 +2.5
XSLV Invesco S&P SmallCap Low Volatility ETF 9.6 25 10 5.5 +1.7
BUY USCF SummerHaven SHPEI Index Fund 9.2 80 -45 8.6 +4.7
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 9.0 29 6 7.6 +3.8
QABA First Trust NASDAQ ABA Community Bank Index Fund 9.0 60 -25 9.9 +6.1
AFMC First Trust Active Factor Mid Cap ETF 8.9 65 -30 6.2 +2.4
RZV Invesco S&P Smallcap 600 Pure Value ETF 8.8 35 0 8.0 +4.2
MDY SPDR S&P Midcap 400 ETF Trust 8.7 23 12 6.2 +2.4
SPMD SPDR Portfolio Mid Cap ETF 8.7 5 30 6.4 +2.6
IJH iShares Core S&P Mid-Cap ETF 8.7 5 30 6.4 +2.6
JKK iShares Morningstar Small-Cap Growth ETF 8.6 30 5 1.0 -2.8
RWK Invesco S&P MidCap 400 Revenue ETF 8.5 39 -4 7.9 +4.1
JHSC John Hancock Multifactor Small Cap ETF 8.5 42 -7 5.5 +1.7
IVOO Vanguard S&P Mid-Cap 400 ETF 8.2 10 25 6.2 +2.4
MDYV SPDR S&P 400 Mid Cap Value ETF 8.2 15 20 8.3 +4.5
TUSA First Trust Total US Market AlphaDEX ETF 8.2 70 -35 5.6 +1.8
IJJ iShares S&P Mid-Cap 400 Value ETF 8.2 25 10 8.1 +4.3
IVOV Vanguard S&P Mid-Cap 400 Value ETF 8.0 15 20 8.2 +4.4

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 IQ Chaikin U.S. Small Cap 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 5.6 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 3.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.50 CATEGORY
AVERAGE		 1.51
 
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.