BlackRock U.S. Equity Factor Rotation ETF
ALTAR
Score™
8.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.5x P/Sales
ratio
1.5x
P/BV
ratio
2.1x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The BlackRock U.S. Equity Factor Rotation ETF seeks to outperform the investment results of the large- and mid-capitalization U.S. equity markets by providing diversified and tactical exposure to style factors via a factor rotation model.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.blackrock.com
Inception date Mar 19, 2019
Assets (mns) $63
Currency USD
Expense ratio 30 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 632
Wgt avg mkt cap (mns) $136,366
Large cap (>$10bn) 90.1%
Mid cap ($2-10bn) 9.8%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AT&T INC 3.5 %
MICROSOFT CORP 3.1 %
VISA INC-CLASS A SHARES 2.6 %
INTEL CORP 2.3 %
MASTERCARD INC-CLASS A 2.3 %
PROCTER & GAMBLE CO/THE 2.0 %
NEXTERA ENERGY GROUP 1.7 %
MEDTRONIC PLC 1.2 %
INTL BUSINESS MACHINES CORP 1.1 %
JOHNSON & JOHNSON 1.1 %
Total 20.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.6 %
IRELAND 3.0 %
BRITAIN 1.0 %
BERMUDA 0.6 %
CANADA 0.2 %
SWITZERLAND 0.2 %
ARGENTINA 0.0 %
SINGAPORE 0.0 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.0% -- -- -- -9.8%

Market Correlations
versus... Beta R-squared
S&P500 0.98 99%
MSCI EAFE 0.92 93%
MSCI Emg. Mkts. 0.72 79%

Technical Indicators
Recent close $21.61
30d moving avg. $24.28
Annualized volatility 19.5%
Short interest (ETF) 1.0%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 43
Turnover 1.5%
Bid/Ask (% of price) 0.48%
ADV underlying (mns) $342,859

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the BlackRock U.S. Equity Factor Rotation ETF ETF based on the alternatives' overlap in portfolio holdings with DYNF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DYNF Expense: 30 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DYNF
Ticker Fund
Name
Overlap1
vs DYNF
(%)
Expense
ratio
(bp)
Savings
vs DYNF
(bp)
ALTAR
Score™
(%)
ALTAR
vs DYNF
(%)
QUS SPDR MSCI USA StrategicFactors ETF 63.6 15 15 7.3 -0.8
JHML John Hancock Multifactor Large Cap ETF 58.4 34 -4 7.5 -0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 58.2 9 21 7.3 -0.8
HSPX Global X S&P 500 Covered Call ETF 56.6 65 -35 6.2 -1.9
PBP Invesco S&P 500 BuyWrite ETF 56.1 49 -19 6.5 -1.5
PBUS Invesco PureBeta MSCI USA ETF 54.7 4 26 7.2 -0.9
VV Vanguard Large-Cap Index Fund 54.7 4 26 7.0 -1.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 54.3 2 28 7.1 -1.0
SCHX Schwab U.S. Large-Cap ETF 54.2 3 27 7.0 -1.0
SPY SPDR S&P 500 ETF Trust 53.6 9 21 7.1 -1.0
SPLG SPDR Portfolio Large Cap ETF 53.5 3 27 7.1 -0.9
VOO VANGUARD S&P 500 ETF 53.5 3 27 7.1 -1.0
VONE Vanguard Russell 1000 ETF 53.5 8 22 7.0 -1.0
IVV iShares Core S&P 500 ETF 53.5 4 26 7.1 -1.0
SPXE ProShares S&P 500 Ex-Energy ETF 53.4 27 3 7.0 -1.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 53.3 20 10 7.1 -1.0
IWB iShares Russell 1000 ETF 53.2 15 15 7.0 -1.1
SCHK Schwab 1000 Index ETF 53.1 5 25 7.0 -1.0
IYY iShares Dow Jones U.S. ETF 52.8 20 10 6.9 -1.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 52.2 12 18 6.7 -1.3
SPTM SPDR Portfolio Total Stock Market ETF 51.8 3 27 7.3 -0.8
VTI Vanguard Total Stock Market Index Fund 51.7 3 27 7.0 -1.1
VTHR Vanguard Russell 3000 Index Fund 51.5 10 20 6.9 -1.1
SCHB Schwab U.S. Broad Market ETF 51.5 3 27 7.0 -1.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 51.4 3 27 7.0 -1.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 51.4 25 5 8.3 +0.3
IWV iShares Russell 3000 ETF 51.2 20 10 6.9 -1.2
EPS WisdomTree U.S. Earnings 500 Fund 51.0 8 22 8.5 +0.4
PRF Invesco FTSE RAFI US 1000 ETF 50.7 39 -9 9.2 +1.1
EUSA iShares MSCI USA Equal Weighted ETF 50.7 15 15 8.4 +0.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 50.5 9 21 8.1 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 50.3 27 3 6.6 -1.4
SIZE iShares Edge MSCI USA Size Factor ETF 50.3 15 15 8.3 +0.2
IUS Invesco Strategic US ETF 50.2 19 11 7.9 -0.1
AVUS Avantis U.S. Equity ETF 50.2 15 15 8.0 -0.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 50.1 25 5 8.4 +0.3
RSP Invesco S&P 500 Equal Weight ETF 50.0 20 10 8.8 +0.7
SFY SoFi Select 500 ETF 50.0 0 30 6.7 -1.3
ESGV Vanguard ESG U.S. Stock ETF 49.8 12 18 7.0 -1.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 49.8 20 10 6.6 -1.4
CATH Global X S&P 500 Catholic Values Custom ETF 49.8 29 1 7.0 -1.0
SPXV ProShares S&P 500 Ex-Health Care ETF 48.8 27 3 6.8 -1.3
SPXT ProShares S&P 500 Ex-Technology ETF 48.4 27 3 7.3 -0.7
VLU SPDR S&P 1500 Value Tilt ETF 48.2 12 18 9.6 +1.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 48.2 29 1 8.2 +0.2
IQSU IQ Candriam ESG US Equity ETF 48.1 9 21 6.7 -1.4
MGC Vanguard Mega Cap Index Fund 47.8 7 23 6.8 -1.2
ESGU iShares MSCI USA ESG Optimized ETF 47.7 15 15 6.7 -1.4
DTD WisdomTree U.S.Total Dividend Fund 47.7 28 2 8.5 +0.4
RNLC Large Cap US Equity Select ETF 47.2 60 -30 8.2 +0.2
MTUM iShares Edge MSCI USA Momentum Factor ETF 47.2 15 15 5.7 -2.3
DLN WisdomTree U.S. LargeCap Dividend Fund 47.1 28 2 8.0 -0.1
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 46.9 25 5 8.6 +0.6
VOOV Vanguard S&P 500 Value ETF 46.6 15 15 9.2 +1.1
SNPE Xtrackers S&P 500 ESG ETF 46.5 11 19 6.8 -1.2
SPYV SPDR Portfolio S&P 500 Value ETF 46.5 4 26 9.2 +1.2
IVE iShares S&P 500 Value ETF 46.5 18 12 9.1 +1.0
USMV iShares Edge MSCI Min Vol USA ETF 46.4 15 15 6.8 -1.3
VONV Vanguard Russell 1000 Value Index Fund 46.3 8 22 9.3 +1.2
IUSV iShares Core S&P U.S. Value ETF 46.1 4 26 9.4 +1.3
SCIU Global X Scientific Beta US ETF 46.1 19 11 7.6 -0.5
QWLD SPDR MSCI World StrategicFactors ETF 46.1 30 0 7.5 -0.6
DIVB iShares U.S. Dividend & Buyback ETF 45.8 25 5 8.8 +0.7
IWD iShares Russell 1000 Value ETF 45.7 19 11 9.1 +1.1
JMOM JPMorgan U.S. Momentum Factor ETF 45.6 12 18 5.2 -2.9
SUSL iShares ESG MSCI USA Leaders ETF 45.1 10 20 6.9 -1.1
JPUS JPMorgan Diversified Return U.S. Equity ETF 45.1 19 11 8.3 +0.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 45.1 10 20 6.9 -1.1
SCHV Schwab U.S. Large-Cap Value ETF 44.9 4 26 9.0 +0.9
IWL iShares Russell Top 200 ETF 44.8 15 15 6.6 -1.4
ESG FlexShares STOXX US ESG Impact Index Fund 44.7 32 -2 6.8 -1.3
RWL Invesco S&P 500 Revenue ETF 44.4 39 -9 9.2 +1.2
VTV Vanguard Value Index Fund 44.3 4 26 9.1 +1.1
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 44.2 29 1 5.6 -2.4
TOK iShares MSCI Kokusai ETF 44.1 25 5 7.3 -0.7
RECS Columbia Research Enhanced Core ETF 44.1 15 15 7.5 -0.6
DSI iShares MSCI KLD 400 Social ETF 43.9 25 5 6.7 -1.3
CFA Victory CEMP US 500 Volatility Weighted Index ETF 43.9 35 -5 8.1 0.0
AFLG First Trust Active Factor Large Cap ETF 43.9 55 -25 7.7 -0.4
JQUA JPMorgan U.S. Quality Factor ETF 43.2 12 18 6.6 -1.4
VOOG Vanguard S&P 500 Growth ETF 43.1 10 20 5.7 -2.3
SPYG SPDR Portfolio S&P 500 Growth ETF 43.1 4 26 5.8 -2.3
IVW iShares S&P 500 Growth ETF 43.1 18 12 5.6 -2.4
VEGN US Vegan Climate ETF 43.0 60 -30 7.1 -1.0
IUSG iShares Core S&P US Growth ETF 42.5 4 26 5.8 -2.2
FLQL Franklin LibertyQ U.S. Equity ETF 42.4 15 15 8.0 -0.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 41.9 15 15 6.9 -1.1
ROUS Hartford Multifactor US Equity ETF 41.8 19 11 9.2 +1.2
FEX First Trust Large Cap Core AlphaDEX Fund 41.6 60 -30 8.1 +0.0
URTH iShares MSCI World ETF 41.1 24 6 7.5 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 41.0 60 -30 6.0 -2.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 40.9 17 13 9.0 +0.9
EXT WisdomTree U.S. Total Earnings Fund 40.9 28 2 7.7 -0.4
FDLO Fidelity Low Volatility Factor ETF 40.7 29 1 6.5 -1.6
IWF iShares Russell 1000 Growth ETF 40.5 19 11 5.7 -2.4
VONG Vanguard Russell 1000 Growth Index Fund 40.5 8 22 5.8 -2.3
DGRO iShares Core Dividend Growth ETF 40.4 8 22 8.4 +0.3
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 40.1 17 13 8.9 +0.9
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 40.1 19 11 7.6 -0.5
RBUS Nationwide Risk-Based U.S. Equity ETF 39.8 30 0 7.2 -0.9

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:
BlackRock U.S. Equity Factor Rotation 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 17.1 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.