BlackRock U.S. Equity Factor Rotation ETF
ALTAR
Score™
6.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.3x P/Sales
ratio
1.8x
P/BV
ratio
2.6x Div.
yield
2.1%


  • 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) $99
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 612
Wgt avg mkt cap (mns) $166,897
Large cap (>$10bn) 91.2%
Mid cap ($2-10bn) 8.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INTEL CORP 2.8 %
AT&T INC 2.0 %
MICROSOFT CORP 1.8 %
JOHNSON & JOHNSON 1.6 %
APPLE INC 1.6 %
COCA-COLA CO/THE 1.5 %
VISA INC-CLASS A SHARES 1.4 %
NIKE INC -CL B 1.3 %
PFIZER INC 1.3 %
MASTERCARD INC-CLASS A 1.2 %
Total 16.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.2 %
IRELAND 2.0 %
BRITAIN 1.2 %
BERMUDA 0.6 %
CANADA 0.3 %
SWITZERLAND 0.3 %
NETHERLANDS 0.1 %
ARGENTINA 0.0 %



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.
-6.8% 2.1% -- -- 5.1%

Market Correlations
versus... Beta R-squared
S&P500 0.96 98%
MSCI EAFE 0.96 91%
MSCI Emg. Mkts. 0.70 74%

Technical Indicators
Recent close $26.66
30d moving avg. $26.39
Annualized volatility 20.9%
Short interest (ETF) 0.4%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 43
Turnover 1.2%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $326,232

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™: 6.5%


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 71.0 15 15 5.8 -0.7
JHML John Hancock Multifactor Large Cap ETF 63.3 29 1 5.5 -1.0
PBUS Invesco PureBeta MSCI USA ETF 60.8 4 26 5.2 -1.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 59.9 9 21 5.5 -1.0
SCHX Schwab U.S. Large-Cap ETF 59.3 3 27 5.3 -1.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 59.0 2 28 5.3 -1.2
VV Vanguard Large-Cap Index Fund 58.8 4 26 5.2 -1.3
PBP Invesco S&P 500 BuyWrite ETF 58.4 49 -19 5.0 -1.5
SCHK Schwab 1000 Index ETF 58.2 5 25 5.2 -1.3
EPS WisdomTree U.S. Earnings 500 Fund 58.1 8 22 6.4 -0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 58.0 7 23 5.2 -1.3
IWB iShares Russell 1000 ETF 58.0 15 15 5.2 -1.3
VONE Vanguard Russell 1000 ETF 57.9 8 22 5.2 -1.3
IYY iShares Dow Jones U.S. ETF 57.9 20 10 5.1 -1.4
HSPX Global X S&P 500 Covered Call ETF 57.9 65 -35 4.8 -1.7
SPY SPDR S&P 500 ETF Trust 57.8 9 21 5.3 -1.2
SPLG SPDR Portfolio Large Cap ETF 57.8 3 27 5.4 -1.1
IVV iShares Core S&P 500 ETF 57.7 4 26 5.4 -1.1
VOO VANGUARD S&P 500 ETF 57.5 3 27 5.4 -1.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 57.4 20 10 5.3 -1.2
SPXE ProShares S&P 500 Ex-Energy ETF 57.2 27 3 5.3 -1.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 57.1 25 5 6.5 +0.0
PRF Invesco FTSE RAFI US 1000 ETF 56.5 39 -9 6.8 +0.3
SCHB Schwab U.S. Broad Market ETF 56.5 3 27 5.2 -1.3
VTI Vanguard Total Stock Market Index Fund 56.2 3 27 5.1 -1.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 56.2 3 27 5.1 -1.4
IWV iShares Russell 3000 ETF 56.1 20 10 5.0 -1.5
SPTM SPDR Portfolio Total Stock Market ETF 56.0 3 27 5.5 -1.0
VTHR Vanguard Russell 3000 Index Fund 55.9 10 20 5.1 -1.4
AVUS Avantis U.S. Equity ETF 55.6 15 15 5.7 -0.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 55.5 25 5 6.5 +0.0
ESGU iShares MSCI USA ESG Optimized ETF 55.2 15 15 5.1 -1.4
EUSA iShares MSCI USA Equal Weighted ETF 54.7 15 15 6.3 -0.2
SPXN ProShares S&P 500 Ex-Financials ETF 54.4 27 3 4.9 -1.6
SFY SoFi Select 500 ETF 53.9 0 30 5.2 -1.3
SIZE iShares Edge MSCI USA Size Factor ETF 53.7 15 15 6.3 -0.2
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 53.5 9 21 5.9 -0.6
ESGV Vanguard ESG U.S. Stock ETF 53.3 12 18 5.1 -1.4
CATH Global X S&P 500 Catholic Values Custom ETF 53.2 29 1 5.2 -1.3
IUS Invesco Strategic US ETF 52.7 19 11 6.7 +0.2
RSP Invesco S&P 500 Equal Weight ETF 52.3 20 10 6.7 +0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 52.2 20 10 4.9 -1.6
DIVB iShares U.S. Dividend & Buyback ETF 51.8 25 5 6.6 +0.1
VLU SPDR S&P 1500 Value Tilt ETF 51.0 12 18 7.4 +0.9
QWLD SPDR MSCI World StrategicFactors ETF 51.0 30 0 6.1 -0.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 51.0 29 1 6.2 -0.3
MGC Vanguard Mega Cap Index Fund 50.9 7 23 5.2 -1.3
IWD iShares Russell 1000 Value ETF 50.6 19 11 7.2 +0.7
VOOV Vanguard S&P 500 Value ETF 50.4 15 15 7.3 +0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 50.3 25 5 6.6 +0.1
SPYV SPDR Portfolio S&P 500 Value ETF 50.3 4 26 7.4 +0.9
IVE iShares S&P 500 Value ETF 50.3 18 12 7.3 +0.8
SPXV ProShares S&P 500 Ex-Health Care ETF 50.1 27 3 5.0 -1.5
SPXT ProShares S&P 500 Ex-Technology ETF 50.0 27 3 5.6 -0.9
IUSV iShares Core S&P U.S. Value ETF 49.9 4 26 7.5 +1.0
BKLC BNY Mellon US Large Cap Core Equity ETF 49.9 0 30 5.2 -1.3
SNPE Xtrackers S&P 500 ESG ETF 49.3 11 19 5.1 -1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 49.3 12 18 4.9 -1.6
IQSU IQ Candriam ESG US Equity ETF 49.1 9 21 5.0 -1.5
RWL Invesco S&P 500 Revenue ETF 49.1 39 -9 7.2 +0.7
SCIU Global X Scientific Beta US ETF 49.0 19 11 5.8 -0.7
DTD WisdomTree U.S.Total Dividend Fund 48.8 28 2 6.6 +0.2
TOK iShares MSCI Kokusai ETF 48.7 25 5 5.5 -1.0
KOKU Xtrackers MSCI Kokusai Equity ETF 48.7 9 21 5.7 -0.8
IWL iShares Russell Top 200 ETF 48.1 15 15 5.0 -1.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 47.8 35 -5 5.9 -0.6
JQUA JPMorgan U.S. Quality Factor ETF 47.4 12 18 5.2 -1.3
RNLC Large Cap US Equity Select ETF 47.3 60 -30 6.2 -0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 47.2 28 2 6.4 -0.1
USMV iShares Edge MSCI Min Vol USA ETF 46.8 15 15 5.5 -1.0
URTH iShares MSCI World ETF 46.1 24 6 5.6 -0.9
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 46.1 10 20 5.2 -1.3
QUAL iShares MSCI Usa Quality Factor ETF 46.1 15 15 5.4 -1.1
SUSL iShares ESG MSCI USA Leaders ETF 46.0 10 20 5.3 -1.2
VONV Vanguard Russell 1000 Value Index Fund 46.0 8 22 7.3 +0.8
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 45.8 17 13 6.4 -0.1
VTV Vanguard Value Index Fund 45.8 4 26 7.4 +0.9
SCHV Schwab U.S. Large-Cap Value ETF 45.8 4 26 7.2 +0.7
ESG FlexShares STOXX US ESG Impact Index Fund 45.7 32 -2 5.0 -1.5
ROUS Hartford Multifactor US Equity ETF 45.3 19 11 7.3 +0.8
ONEO SPDR Russell 1000 Momentum Focus ETF 45.2 20 10 6.4 -0.1
DSI iShares MSCI KLD 400 Social ETF 45.0 25 5 5.1 -1.4
AFLG First Trust Active Factor Large Cap ETF 44.7 55 -25 5.5 -1.0
RAFE PIMCO RAFI ESG U.S. ETF 44.6 29 1 7.8 +1.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 44.5 18 12 6.2 -0.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 44.3 19 11 5.6 -0.9
FLQL Franklin LibertyQ U.S. Equity ETF 44.1 15 15 6.3 -0.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 44.0 60 -30 4.3 -2.2
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 43.8 17 13 6.5 +0.0
RECS Columbia Research Enhanced Core ETF 43.7 15 15 5.6 -0.9
VEGN US Vegan Climate ETF 43.7 60 -30 5.1 -1.4
FEX First Trust Large Cap Core AlphaDEX Fund 43.7 60 -30 6.0 -0.5
EXT WisdomTree U.S. Total Earnings Fund 43.5 28 2 5.2 -1.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 43.4 75 -45 3.8 -2.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 42.6 29 1 6.7 +0.2
ACWI iShares MSCI ACWI ETF 42.2 32 -2 5.8 -0.7
VONG Vanguard Russell 1000 Growth Index Fund 41.7 8 22 4.2 -2.3
DGRO iShares Core Dividend Growth ETF 41.3 8 22 6.6 +0.1
SPYG SPDR Portfolio S&P 500 Growth ETF 41.3 4 26 4.3 -2.2
IUSG iShares Core S&P US Growth ETF 41.3 4 26 4.3 -2.2

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 2.5 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.
 

 

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.