ETF Research Center

The iShares US Dividend and Buyback ETF tracks an index of large-, mid-, and small-cap US stocks that have a history of dividend payments and/or share buybacks.

FUND BASICS
Category	US Equities
Fund Sponsor	BlackRock
Website	www.ishares.com
Inception date	Nov 07, 2017
Assets (mns)	$33
Currency	USD
Expense ratio	25 bp
Distributions	Quarterly

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	345
Wgt avg mkt cap (mns)	$268,896
Large cap (>$10bn)	96.4%
Mid cap ($2-10bn)	3.6%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	25.2 %
APPLE INC	5.5 %
MICROSOFT CORP	3.4 %
JPMORGAN CHASE & CO	2.8 %
BANK OF AMERICA CORP	2.3 %
WELLS FARGO & CO	2.2 %
ORACLE CORP	1.9 %
CISCO SYSTEMS INC	1.9 %
CITIGROUP INC	1.8 %
INTEL CORP	1.6 %
AT&T INC	1.6 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.3 %
	IRELAND	1.6 %
	BRITAIN	1.0 %
	SWITZERLAND	0.4 %
	CANADA	0.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru June 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
-10.0%	0.6%	--	--	4.6%

Market Correlations
versus...	Beta	R-squared
S&P500	1.06	97%
MSCI EAFE	1.08	85%
MSCI Emg. Mkts.	0.79	71%

Technical Indicators
Recent close	$27.45
30d moving avg.	$27.58
Annualized volatility	19.6%
Short interest (ETF)	0.0%
Relative strength (RSI)	52

Liquidity measures
Avg. volume (thou.)	35
Turnover	2.9%
Bid/Ask (% of price)	0.11%
ADV underlying (mns)	$213,415

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares U.S. Dividend & Buyback ETF ETF based on the alternatives' overlap in portfolio holdings with DIVB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

DIVB

Expense:

25 bp

ALTAR Score™:

6.6%

ALTERNATIVE ETFs BASED ON OVERLAP WITH DIVB
Ticker	Fund Name	Overlap¹ vs DIVB (%)	Expense ratio (bp)	Savings vs DIVB (bp)	ALTAR Score™ (%)	ALTAR vs DIVB (%)
EPS	WisdomTree U.S. Earnings 500 Fund	70.4	8	17	6.5	-0.1
FNDX	Schwab Fundamental U.S. Large Co. Index ETF	68.6	25	0	6.6	-0.1
DLN	WisdomTree U.S. LargeCap Dividend Fund	66.3	28	-3	6.4	-0.2
FNDB	Schwab Fundamental U.S. Broad Market Index ETF	65.4	25	0	6.6	-0.0
PRF	Invesco FTSE RAFI US 1000 ETF	64.5	39	-14	6.9	+0.3
DTD	WisdomTree U.S.Total Dividend Fund	64.2	28	-3	6.7	+0.1
PBP	Invesco S&P 500 BuyWrite ETF	63.7	49	-24	5.0	-1.6
HSPX	Global X S&P 500 Covered Call ETF	63.1	65	-40	4.9	-1.7
VOO	VANGUARD S&P 500 ETF	63.0	3	22	5.4	-1.2
SPY	SPDR S&P 500 ETF Trust	62.9	9	16	5.4	-1.3
SPLG	SPDR Portfolio Large Cap ETF	62.9	3	22	5.4	-1.2
IVV	iShares Core S&P 500 ETF	62.8	4	21	5.4	-1.2
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	61.9	7	18	5.2	-1.4
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free ETF	61.9	20	5	5.4	-1.3
VV	Vanguard Large-Cap Index Fund	61.9	4	21	5.3	-1.4
MGC	Vanguard Mega Cap Index Fund	61.7	7	18	5.2	-1.4
DGRO	iShares Core Dividend Growth ETF	61.5	8	17	6.7	+0.0
BBUS	JP Morgan Betabuilders U.S. Equity ETF	61.5	2	23	5.3	-1.3
SPXE	ProShares S&P 500 Ex-Energy ETF	61.3	27	-2	5.3	-1.3
BKLC	BNY Mellon US Large Cap Core Equity ETF	61.0	0	25	5.2	-1.4
PBUS	Invesco PureBeta MSCI USA ETF	61.0	4	21	5.3	-1.4
IUS	Invesco Strategic US ETF	60.9	19	6	6.7	+0.1
SCHX	Schwab U.S. Large-Cap ETF	60.4	3	22	5.3	-1.3
SPTM	SPDR Portfolio Total Stock Market ETF	60.1	3	22	5.5	-1.1
RAFE	PIMCO RAFI ESG U.S. ETF	59.6	29	-4	7.8	+1.2
VONE	Vanguard Russell 1000 ETF	59.3	8	17	5.3	-1.4
QUS	SPDR MSCI USA StrategicFactors ETF	59.2	15	10	5.9	-0.8
SCHK	Schwab 1000 Index ETF	59.1	5	20	5.3	-1.3
IWL	iShares Russell Top 200 ETF	59.0	15	10	5.0	-1.6
IYY	iShares Dow Jones U.S. ETF	58.7	20	5	5.2	-1.5
IWB	iShares Russell 1000 ETF	58.6	15	10	5.2	-1.4
ESGU	iShares MSCI USA ESG Optimized ETF	58.6	15	10	5.1	-1.5
VLU	SPDR S&P 1500 Value Tilt ETF	58.5	12	13	7.5	+0.9
JHML	John Hancock Multifactor Large Cap ETF	58.3	29	-4	5.6	-1.0
SPXV	ProShares S&P 500 Ex-Health Care ETF	58.3	27	-2	5.0	-1.6
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	57.7	20	5	5.0	-1.7
VOOV	Vanguard S&P 500 Value ETF	57.7	15	10	7.4	+0.8
SPXN	ProShares S&P 500 Ex-Financials ETF	57.5	27	-2	5.0	-1.7
SPYV	SPDR Portfolio S&P 500 Value ETF	57.1	4	21	7.5	+0.8
IVE	iShares S&P 500 Value ETF	57.1	18	7	7.3	+0.7
SCHB	Schwab U.S. Broad Market ETF	56.9	3	22	5.3	-1.4
VTHR	Vanguard Russell 3000 Index Fund	56.9	10	15	5.1	-1.5
ITOT	iShares Core S&P Total U.S. Stock Market ETF	56.8	3	22	5.2	-1.4
VTI	Vanguard Total Stock Market Index Fund	56.6	3	22	5.2	-1.4
SCHV	Schwab U.S. Large-Cap Value ETF	56.5	4	21	7.2	+0.6
IWV	iShares Russell 3000 ETF	56.4	20	5	5.1	-1.6
SNPE	Xtrackers S&P 500 ESG ETF	55.9	11	14	5.1	-1.5
VTV	Vanguard Value Index Fund	55.7	4	21	7.5	+0.8
CATH	Global X S&P 500 Catholic Values Custom ETF	55.4	29	-4	5.2	-1.4
IUSV	iShares Core S&P U.S. Value ETF	55.4	4	21	7.6	+0.9
RECS	Columbia Research Enhanced Core ETF	55.1	15	10	5.7	-1.0
OEF	iShares S&P 100 ETF	54.8	20	5	4.8	-1.9
AVUS	Avantis U.S. Equity ETF	54.7	15	10	5.8	-0.8
IWD	iShares Russell 1000 Value ETF	54.6	19	6	7.2	+0.6
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	54.2	9	16	5.6	-1.1
SFY	SoFi Select 500 ETF	54.1	0	25	5.2	-1.4
ESG	FlexShares STOXX US ESG Impact Index Fund	53.9	32	-7	5.1	-1.6
RWL	Invesco S&P 500 Revenue ETF	53.8	39	-14	7.3	+0.7
SPXT	ProShares S&P 500 Ex-Technology ETF	53.8	27	-2	5.7	-1.0
USDY	Pacific Global US Equity Income ETF	53.6	29	-4	7.3	+0.7
IQSU	IQ Candriam ESG US Equity ETF	53.3	9	16	5.1	-1.6
ESGV	Vanguard ESG U.S. Stock ETF	52.6	12	13	5.2	-1.4
MGV	Vanguard Mega Cap Value ETF	52.6	7	18	7.3	+0.7
FDRR	Fidelity Dividend ETF for Rising Rates	52.0	29	-4	7.0	+0.4
DYNF	BlackRock U.S. Equity Factor Rotation ETF	51.6	30	-5	6.6	-0.1
TILT	Flexshares Morningstar US Market Factors Tilt Index Fund	51.2	25	0	6.7	+0.0
IWX	iShares Russell Top 200 Value ETF	51.1	20	5	7.2	+0.6
EQWL	Invesco Russell Top 200 Equal Weight ETF	50.6	25	0	6.1	-0.5
PLC	Principal U.S. Large-Cap Multi-Factor Core Index ETF	50.4	15	10	6.2	-0.4
NACP	Impact Shares NAACP Minority Empowerment ETF	50.0	75	-50	4.5	-2.1
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	49.3	29	-4	6.3	-0.3
VONV	Vanguard Russell 1000 Value Index Fund	49.1	8	17	7.4	+0.7
QLC	FlexShares US Quality Large Cap Index Fund	49.0	32	-7	5.4	-1.3
MMTM	SPDR S&P 1500 Momentum Tilt ETF	48.4	12	13	4.9	-1.7
TOK	iShares MSCI Kokusai ETF	48.0	25	0	5.6	-1.1
QARP	Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	48.0	19	6	5.7	-1.0
VYM	Vanguard High Dividend Yield Index ETF	47.9	6	19	7.4	+0.8
KOKU	Xtrackers MSCI Kokusai Equity ETF	47.8	9	16	5.7	-0.9
JQUA	JPMorgan U.S. Quality Factor ETF	46.9	12	13	5.3	-1.4
AFLG	First Trust Active Factor Large Cap ETF	46.5	55	-30	5.6	-1.1
SUSL	iShares ESG MSCI USA Leaders ETF	46.2	10	15	5.3	-1.3
FDVV	Fidelity Core Dividend ETF	46.2	29	-4	7.2	+0.6
USSG	Xtrackers MSCI USA ESG Leaders Equity ETF	46.2	10	15	5.3	-1.3
FQAL	Fidelity Quality Factor ETF	45.8	29	-4	5.5	-1.1
DSI	iShares MSCI KLD 400 Social ETF	45.5	25	0	5.1	-1.5
FVAL	Fidelity Value Factor ETF	45.4	29	-4	8.0	+1.4
URTH	iShares MSCI World ETF	45.2	24	1	5.7	-1.0
JVAL	JPMorgan U.S. Value Factor ETF	45.2	12	13	8.8	+2.2
RNLC	Large Cap US Equity Select ETF	45.1	60	-35	6.3	-0.4
XOUT	GraniteShares XOUT U.S. Large Cap ETF	45.0	60	-35	4.4	-2.3
WOMN	Impact Shares YWCA Women's Empowerment ETF	44.9	75	-50	4.5	-2.1
VOOG	Vanguard S&P 500 Growth ETF	44.8	10	15	4.2	-2.4
QDF	FlexShares Quality Dividend Index Fund	44.8	37	-12	6.1	-0.5
SPYG	SPDR Portfolio S&P 500 Growth ETF	44.6	4	21	4.3	-2.3
IVW	iShares S&P 500 Growth ETF	44.5	18	7	4.2	-2.5
XLG	Invesco S&P 500 Top 50 ETF	44.5	20	5	4.4	-2.2
SPUS	SP Funds S&P 500 Sharia Industry Exclusions ETF	44.0	49	-24	4.1	-2.6
QDYN	FlexShares Quality Dividend Dynamic Index Fund	43.9	37	-12	6.2	-0.4
IUSG	iShares Core S&P US Growth ETF	43.6	4	21	4.3	-2.3
RNDV	US Equity Dividend Select ETF	43.5	50	-25	7.7	+1.1

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	**	**	**	**	**	**	**
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:	iShares U.S. Dividend & Buyback 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	14.7	%
Divided by: Fwd. P/BV	2.1	x
Less: Expense ratio	25	bp
Equals: ALTAR Score	6.6	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.51	CATEGORY AVERAGE	1.52

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.