BlackRock U.S. Equity Factor Rotation ETF
ALTAR
Score™
5.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
24.4x P/Sales
ratio
2.2x
P/BV
ratio
3.4x Div.
yield
1.5%


  • 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) $75
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 615
Wgt avg mkt cap (mns) $209,737
Large cap (>$10bn) 94.0%
Mid cap ($2-10bn) 5.4%
Small cap (<$2bn) 0.0%
Developed mkts 99.7%
Emerging mkts 0.3%

TOP TEN HOLDINGS
APPLE INC 2.1 %
MICROSOFT CORP 2.0 %
TESLA MOTORS INC 1.9 %
INTEL CORP 1.9 %
AT&T INC 1.4 %
AMAZON.COM INC 1.1 %
ADOBE SYSTEMS INC 1.1 %
NVIDIA CORP 1.1 %
NIKE INC -CL B 1.0 %
TARGET CORP 1.0 %
Total 14.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.1 %
IRELAND 1.7 %
BRITAIN 1.2 %
BERMUDA 0.5 %
ARGENTINA 0.4 %
SWITZERLAND 0.3 %
NETHERLANDS 0.3 %
CANADA 0.2 %



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.
13.4% 13.4% -- -- 15.9%

Market Correlations
versus... Beta R-squared
S&P500 0.97 97%
MSCI EAFE 0.90 92%
MSCI Emg. Mkts. 0.71 69%

Technical Indicators
Recent close $32.80
30d moving avg. $31.81
Annualized volatility 20.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 20
Turnover 0.9%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $294,818

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 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™: 5.2%


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
(%)
ESGV Vanguard ESG U.S. Stock ETF 69.6 12 18 4.5 -0.8
JHML John Hancock Multifactor Large Cap ETF 68.5 29 1 4.9 -0.4
PBUS Invesco PureBeta MSCI USA ETF 66.2 4 26 4.6 -0.7
SCHX Schwab U.S. Large-Cap ETF 64.9 3 27 4.6 -0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 64.5 2 28 4.6 -0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 64.3 9 21 4.8 -0.4
VV Vanguard Large-Cap Index Fund 63.7 4 26 4.6 -0.7
IYY iShares Dow Jones U.S. ETF 63.5 20 10 4.4 -0.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 63.3 7 23 4.5 -0.7
SCHK Schwab 1000 Index ETF 63.3 5 25 4.6 -0.7
IWB iShares Russell 1000 ETF 63.1 15 15 4.5 -0.8
EUSA iShares MSCI USA Equal Weighted ETF 62.5 15 15 5.1 -0.1
PBP Invesco S&P 500 BuyWrite ETF 62.3 49 -19 4.3 -0.9
VTHR Vanguard Russell 3000 Index Fund 61.9 10 20 4.4 -0.9
XYLG Global X S&P 500 Covered Call & Growth ETF 61.8 60 -30 4.4 -0.8
QUS SPDR MSCI USA StrategicFactors ETF 61.8 15 15 5.3 +0.0
SIZE iShares MSCI USA Size Factor ETF 61.5 15 15 5.1 -0.1
SPLG SPDR Portfolio Large Cap ETF 61.4 3 27 4.7 -0.5
SPY SPDR S&P 500 ETF Trust 61.3 9 21 4.7 -0.6
IVV iShares Core S&P 500 ETF 61.2 3 27 4.7 -0.5
SCHB Schwab U.S. Broad Market ETF 61.2 3 27 4.5 -0.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 61.0 3 27 4.4 -0.8
VOO VANGUARD S&P 500 ETF 60.6 3 27 4.8 -0.4
IWV iShares Russell 3000 ETF 60.5 20 10 4.3 -1.0
DFAU Dimensional US Core Equity Market ETF 60.3 12 18 4.7 -0.6
SPXE ProShares S&P 500 Ex-Energy ETF 60.0 27 3 4.6 -0.6
VTI Vanguard Total Stock Market Index Fund 59.9 3 27 4.4 -0.8
VONE Vanguard Russell 1000 ETF 59.7 8 22 4.6 -0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 59.6 20 10 4.8 -0.5
SPTM SPDR Portfolio Total Stock Market ETF 59.4 3 27 4.8 -0.4
ESGU iShares MSCI USA ESG Optimized ETF 59.2 15 15 4.4 -0.8
SFY SoFi Select 500 ETF 59.0 0 30 4.6 -0.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 57.9 9 21 5.0 -0.3
AVUS Avantis U.S. Equity ETF 57.5 15 15 4.8 -0.4
SPXN ProShares S&P 500 Ex-Financials ETF 57.5 27 3 4.4 -0.9
XVV iShares ESG Screened S&P 500 ETF 56.9 8 22 4.9 -0.4
EPS WisdomTree U.S. Earnings 500 Fund 56.4 8 22 5.9 +0.7
IQSU IQ Candriam ESG US Equity ETF 56.1 9 21 4.5 -0.7
PRF Invesco FTSE RAFI US 1000 ETF 55.8 39 -9 5.8 +0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 55.7 20 10 4.6 -0.7
CATH Global X S&P 500 Catholic Values Custom ETF 55.0 29 1 4.6 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 54.8 25 5 5.8 +0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 54.4 27 3 4.3 -1.0
KOKU Xtrackers MSCI Kokusai Equity ETF 53.7 9 21 5.0 -0.2
TOK iShares MSCI Kokusai ETF 53.7 25 5 4.9 -0.4
RSP Invesco S&P 500 Equal Weight ETF 53.7 20 10 5.6 +0.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 53.6 30 0 5.0 -0.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 53.1 25 5 5.7 +0.4
IUS Invesco Strategic US ETF 52.8 19 11 5.5 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 52.8 12 18 4.0 -1.2
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 52.5 25 5 4.9 -0.4
MGC Vanguard Mega Cap Index Fund 52.0 7 23 4.6 -0.7
RWL Invesco S&P 500 Revenue ETF 52.0 39 -9 6.2 +1.0
JCTR JPMorgan Carbon Transition U.S. Equity ETF 51.7 15 15 4.7 -0.6
VOOV Vanguard S&P 500 Value ETF 51.3 10 20 6.6 +1.4
URTH iShares MSCI World ETF 51.0 24 6 5.0 -0.3
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 51.0 35 -5 5.1 -0.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 50.8 35 -5 5.0 -0.2
VLU SPDR S&P 1500 Value Tilt ETF 50.6 12 18 6.1 +0.9
BKLC BNY Mellon US Large Cap Core Equity ETF 50.6 0 30 4.5 -0.8
VONV Vanguard Russell 1000 Value Index Fund 50.2 8 22 6.1 +0.9
SCHV Schwab U.S. Large-Cap Value ETF 49.9 4 26 6.1 +0.9
SPXT ProShares S&P 500 Ex-Technology ETF 49.7 27 3 4.9 -0.4
IWL iShares Russell Top 200 ETF 49.3 15 15 4.4 -0.8
IWD iShares Russell 1000 Value ETF 49.0 19 11 6.0 +0.8
DIVB iShares U.S. Dividend & Buyback ETF 48.6 25 5 5.9 +0.7
AFLG First Trust Active Factor Large Cap ETF 48.5 55 -25 4.7 -0.6
SPYV SPDR Portfolio S&P 500 Value ETF 48.4 4 26 6.4 +1.2
IVE iShares S&P 500 Value ETF 48.4 18 12 6.3 +1.1
RESP WisdomTree US ESG Fund of Benef Interest 48.0 28 2 5.1 -0.2
SNPE Xtrackers S&P 500 ESG ETF 48.0 10 20 4.6 -0.7
EFIV SPDR S&P 500 ESG ETF 47.9 10 20 4.6 -0.7
IUSV iShares Core S&P U.S. Value ETF 47.9 4 26 6.4 +1.2
FEX First Trust Large Cap Core AlphaDEX Fund 47.8 60 -30 4.7 -0.6
VEGN US Vegan Climate ETF 47.7 60 -30 3.9 -1.3
RNLC Large Cap US Equity Select ETF 47.3 60 -30 5.2 +0.0
ESG FlexShares STOXX US ESG Impact Index Fund 46.6 32 -2 4.5 -0.8
QWLD SPDR MSCI World StrategicFactors ETF 46.3 30 0 5.4 +0.1
ROUS Hartford Multifactor US Equity ETF 46.2 19 11 5.9 +0.6
ACWI iShares MSCI ACWI ETF 46.1 32 -2 5.1 -0.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 45.9 60 -30 3.6 -1.6
ONEO SPDR Russell 1000 Momentum Focus ETF 45.9 20 10 5.6 +0.3
DSI iShares MSCI KLD 400 Social ETF 45.5 25 5 4.6 -0.7
IWF iShares Russell 1000 Growth ETF 45.2 19 11 3.4 -1.8
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 45.2 17 13 5.6 +0.4
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 45.2 29 1 7.2 +2.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 45.1 20 10 5.3 +0.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 44.6 20 10 5.3 +0.1
VOOG Vanguard S&P 500 Growth ETF 44.6 10 20 3.9 -1.4
VONG Vanguard Russell 1000 Growth Index Fund 44.6 8 22 3.5 -1.7
IUSG iShares Core S&P US Growth ETF 44.5 4 26 3.7 -1.6
USXF iShares ESG Advanced MSCI USA ETF 44.3 10 20 4.5 -0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 44.0 4 26 3.7 -1.6
IVW iShares S&P 500 Growth ETF 44.0 18 12 3.5 -1.7
SUSL iShares ESG MSCI USA Leaders ETF 43.7 10 20 4.8 -0.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 43.7 10 20 4.8 -0.4
FLQL Franklin LibertyQ U.S. Equity ETF 43.5 15 15 5.9 +0.7

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:
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 16.8 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.49
 
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.