IQ Chaikin U.S. Small Cap ETF
ALTAR
Score™		 4.7% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 70.3x P/Sales
ratio		 0.8x
P/BV
ratio		 1.3x Div.
yield		 2.6%


  • 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 16, 2017
Assets (mns) $109
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 485
Wgt avg mkt cap (mns) $1,299
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 21.0%
Small cap (<$2bn) 79.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DOMO, INC. CLASS B 0.4 %
GENMARK DIAGNOSTICS INC 0.4 %
ARCUS BIOSCIENCES, INC. 0.4 %
BRINKER INTERNATIONAL INC 0.4 %
CENTURY COMMUNITIES INC 0.4 %
M/I HOMES INC 0.4 %
CALIX INC 0.3 %
PROPETRO HOLDING CORP. 0.3 %
CORE LABORATORIES N.V. 0.3 %
CNX RESOURCES CORPORATION 0.3 %
Total 3.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.7 %
NETHERLANDS 0.6 %
PUERTO RICO 0.4 %
BERMUDA 0.4 %
LUXEMBOURG 0.3 %
IRELAND 0.3 %
CAYMAN ISLANDS 0.2 %




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.
-24.8% -9.8% -- -- -5.1%

Market Correlations
versus... Beta R-squared
S&P500 1.43 84%
MSCI EAFE 1.48 77%
MSCI Emg. Mkts. 1.10 65%

Technical Indicators
Recent close $21.25
30d moving avg. $19.42
Annualized volatility 26.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.3%
Bid/Ask (% of price) 0.35%
ADV underlying (mns) $7,502

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 4.7%


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
(%)
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 44.5 39 -4 6.3 +1.6
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 37.3 35 0 8.4 +3.7
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 35.6 29 6 1.9 -2.8
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 33.9 29 6 10.2 +5.5
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 33.5 40 -5 6.4 +1.7
TPSC Timothy Plan US Small Cap Core ETF 33.3 52 -17 7.8 +3.1
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 33.2 35 0 8.4 +3.7
FYX First Trust Small Cap Core AlphaDEX Fund 33.1 63 -28 6.5 +1.9
EES WisdomTree SmallCap Earnings Fund 32.7 38 -3 11.3 +6.7
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 31.5 20 15 6.1 +1.4
IJR iShares Core S&P Small Cap ETF 29.9 7 28 7.1 +2.4
SLY SPDR S&P 600 Small Cap ETF 29.9 15 20 7.0 +2.3
SPSM SPDR Portfolio Small Cap ETF 29.9 5 30 7.1 +2.4
VIOO Vanguard S&P Small-Cap 600 ETF 29.4 10 25 7.0 +2.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 29.3 29 6 6.0 +1.3
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 28.9 12 23 8.1 +3.5
PSC Principal U.S. Small Cap Index ETF 28.4 38 -3 7.1 +2.5
IWN iShares Russell 2000 Value ETF 27.4 24 11 7.2 +2.5
VTWV Vanguard Russell 2000 Value Index Fund 27.1 15 20 7.3 +2.6
DES WisdomTree U.S. SmallCap Dividend Fund 27.0 38 -3 8.7 +4.0
IWM iShares Russell 2000 ETF 26.5 19 16 3.6 -1.1
ROGS Hartford Multifactor Global Small Cap ETF 26.2 34 1 8.1 +3.4
AFSM First Trust Active Factor Small Cap ETF 25.7 75 -40 5.7 +1.1
VTWO Vanguard Russell 2000 Index Fund 25.6 10 25 3.7 -1.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 25.6 39 -4 4.4 -0.3
RNSC Small Cap US Equity Select ETF 25.5 60 -25 7.6 +2.9
SLYV SPDR S&P 600 Small Cap Value ETF 24.5 15 20 9.2 +4.5
IJS iShares S&P Small-cap 600 Value ETF 24.4 25 10 9.1 +4.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 24.4 24 11 7.7 +3.0
VIOV Vanguard S&P Small-Cap 600 Value ETF 24.1 15 20 9.0 +4.4
IUSS Invesco Strategic US Small Company ETF 23.7 23 12 5.9 +1.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 23.6 30 5 7.6 +2.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 23.5 25 10 6.4 +1.7
ISMD Inspire Small/Mid Cap Impact ETF 23.3 61 -26 6.9 +2.2
RWJ Invesco S&P SmallCap 600 Revenue ETF 23.2 39 -4 6.8 +2.1
FYT First Trust Small Cap Value AlphaDEX Fund 23.2 72 -37 9.1 +4.4
IWC iShares Micro-Cap ETF 22.7 60 -25 -4.1 -8.8
AVUV Avantis U.S. Small Cap Value ETF 22.1 25 10 8.9 +4.3
SCHA Schwab U.S. Small-Cap ETF 22.0 4 31 4.9 +0.2
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 21.8 35 0 6.2 +1.6
SLYG SPDR S&P 600 Small Cap Growth ETF 21.2 15 20 5.3 +0.6
IWO iShares Russell 2000 Growth ETF 21.2 24 11 0.7 -3.9
IJT iShares S&P Small-Cap 600 Growth ETF 21.2 25 10 5.2 +0.5
VIOG Vanguard S&P Small-Cap 600 Growth ETF 21.0 16 19 5.3 +0.6
VTWG Vanguard Russell 2000 Growth Index Fund 20.6 15 20 0.8 -3.9
SQLV Legg Mason Small-Cap Quality Value 20.3 62 -27 7.0 +2.3
FSMD Fidelity Small-Mid Factor ETF 19.7 29 6 7.0 +2.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 18.8 17 18 4.9 +0.2
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 18.0 38 -3 9.1 +4.4
VFMF Vanguard U.S. Multifactor ETF 17.9 18 17 7.3 +2.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 17.8 6 29 5.1 +0.4
VBR Vanguard Small Cap Value Index Fund 17.4 7 28 8.4 +3.8
NUSC Nuveen ESG Small-Cap ETF 17.1 40 -5 5.0 +0.3
FYC First Trust Small Cap Growth AlphaDEX Fund 16.6 70 -35 2.6 -2.1
JKJ iShares Morningstar Small-Cap ETF 15.3 25 10 6.5 +1.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 15.2 20 15 6.0 +1.4
VFQY Vanguard U.S. Quality Factor ETF 13.7 13 22 6.1 +1.4
VFVA Vanguard U.S. Value Factor ETF 13.2 13 22 11.8 +7.1
BUY USCF SummerHaven SHPEI Index Fund 13.2 80 -45 10.5 +5.8
VB Vanguard Small-Cap ETF 13.0 5 30 5.5 +0.8
JHSC John Hancock Multifactor Small Cap ETF 12.9 50 -15 5.8 +1.2
DWAS Invesco DWA SmallCap Momentum ETF 12.7 60 -25 -1.1 -5.8
JKL iShares Morningstar Small Cap Value ETF 12.7 30 5 9.8 +5.1
EWMC Invesco S&P MidCap 400 Equal Weight ETF 12.2 40 -5 6.8 +2.1
FAB First Trust Multi Cap Value AlphaDEX Fund 12.2 71 -36 9.5 +4.8
VFLQ Vanguard U.S. Liquidity Factor ETF 12.1 13 22 3.5 -1.2
BFOR Barron's 400 ETF 12.0 66 -31 6.3 +1.7
VXF Vanguard Extended Market Index Fund 11.7 7 28 3.8 -0.8
RZG Invesco S&P Smallcap 600 Pure Growth ETF 11.6 35 0 6.3 +1.6
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 11.5 20 15 9.5 +4.8
XSVM Invesco S&P SmallCap Value with Momentum ETF 11.3 39 -4 10.3 +5.6
XSHQ Invesco S&P SmallCap Quality ETF 11.1 29 6 6.1 +1.4
EZM WisdomTree U.S. MidCap Earnings Fund 11.1 38 -3 9.2 +4.5
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 10.6 48 -13 6.4 +1.7
PXSG Invesco S&P SmallCap Momentum ETF 10.4 39 -4 5.2 +0.5
VUSE Vident Core US Equity Fund 10.4 48 -13 7.7 +3.0
QABA First Trust NASDAQ ABA Community Bank Index Fund 10.3 60 -25 10.6 +5.9
SMDY Syntax Stratified MidCap ETF 10.1 30 5 6.3 +1.6
CALF Pacer US Small Cap Cash Cows 100 ETF 10.1 59 -24 11.4 +6.7
XSLV Invesco S&P SmallCap Low Volatility ETF 10.1 25 10 5.9 +1.3
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 10.1 35 0 9.5 +4.9
FAD First Trust Multi Cap Growth AlphaDEX Fund 9.8 66 -31 2.6 -2.1
JSML Janus Henderson Small Cap Growth Alpha ETF 9.7 35 0 6.2 +1.5
MDYV SPDR S&P 400 Mid Cap Value ETF 9.2 15 20 8.4 +3.7
PSCF Invesco S&P SmallCap Financials ETF 9.2 29 6 11.8 +7.2
IVOV Vanguard S&P Mid-Cap 400 Value ETF 9.2 15 20 8.4 +3.7
IJJ iShares S&P Mid-Cap 400 Value ETF 9.2 25 10 8.3 +3.6
FDM First Trust Dow Jones Select Microcap Index Fund 9.1 60 -25 7.8 +3.1
FNX First Trust Mid Cap Core AlphaDEX Fund 8.8 61 -26 6.6 +2.0
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 8.6 80 -45 5.5 +0.8
VBK Vanguard Small-Cap Growth Index Fund 8.6 7 28 2.5 -2.2
RZV Invesco S&P Smallcap 600 Pure Value ETF 8.6 35 0 9.1 +4.4
AFMC First Trust Active Factor Mid Cap ETF 8.5 65 -30 6.2 +1.5
JKK iShares Morningstar Small-Cap Growth ETF 8.5 30 5 1.3 -3.3
TUSA First Trust Total US Market AlphaDEX ETF 8.2 70 -35 6.1 +1.4
RWK Invesco S&P MidCap 400 Revenue ETF 8.1 39 -4 7.5 +2.8
MDY SPDR S&P Midcap 400 ETF Trust 7.7 23 12 6.2 +1.6
IJH iShares Core S&P Mid-Cap ETF 7.7 6 29 6.4 +1.7
SPMD SPDR Portfolio Mid Cap ETF 7.7 5 30 6.4 +1.7

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 6.2 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 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.