iShares MSCI USA Small-Cap ESG Optimized
ALTAR
Score™
4.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
20.4x P/Sales
ratio
1.1x
P/BV
ratio
2.0x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI USA Small-Cap ESG Optimized ETF tracks an index of small-cap companies with high environmental, social, and governance (ESG) factor scores as determined by MSCI.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Apr 10, 2018
Assets (mns) $134
Currency USD
Expense ratio 17 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 909
Wgt avg mkt cap (mns) $3,945
Large cap (>$10bn) 1.0%
Mid cap ($2-10bn) 73.2%
Small cap (<$2bn) 25.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DOUGLAS EMMETT INC 0.7 %
BRIGHT HORIZONS FAMILY SOLUT 0.7 %
KILROY REALTY CORP 0.6 %
FAIR ISAAC CORP 0.5 %
EASTERLY GOVERNMENT PROPERTIES, IN 0.5 %
BANK OF HAWAII CORP 0.4 %
BWX TECHNOLOGIES, INC. 0.4 %
CULLEN/FROST BANKERS INC 0.4 %
BRANDYWINE REALTY TRUST 0.4 %
APTARGROUP INC 0.4 %
Total 5.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
BRITAIN 0.9 %
BERMUDA 0.6 %
CAYMAN ISLANDS 0.3 %
IRELAND 0.3 %
NETHERLANDS 0.3 %
ISRAEL 0.2 %
CANADA 0.2 %
PUERTO RICO 0.1 %
SWITZERLAND 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.8% 11.8% -- -- 6.9%

Market Correlations
versus... Beta R-squared
S&P500 1.28 92%
MSCI EAFE 1.26 67%
MSCI Emg. Mkts. 0.84 50%

Technical Indicators
Recent close $29.35
30d moving avg. $28.97
Annualized volatility 19.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 57
Turnover 1.3%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $25,167

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI USA Small-Cap ESG Optimized ETF based on the alternatives' overlap in portfolio holdings with ESML. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ESML Expense: 17 bp ALTAR Score™: 4.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ESML
Ticker Fund
Name
Overlap1
vs ESML
(%)
Expense
ratio
(bp)
Savings
vs ESML
(bp)
ALTAR
Score™
(%)
ALTAR
vs ESML
(%)
PBSM Invesco PureBeta MSCI USA Small Cap 66.3 6 11 4.9 +0.4
VB Vanguard Smallcap ETF 56.5 5 12 5.2 +0.7
SCHA Schwab U.S. Small-Cap 56.2 4 13 4.8 +0.3
NUSC NuShares ESG Small-Cap 54.4 40 -23 4.8 +0.3
VXF Vanguard Extended Market 45.5 7 10 3.5 -1.1
IWM iShares Russell 2000 44.3 19 -2 3.6 -1.0
VTWO Vanguard Russell 2000 44.0 15 2 3.6 -1.0
VBR Vanguard Small-Cap Value ETF 41.6 7 10 7.6 +3.1
IUSS Invesco Strategic US Small Company 39.9 23 -6 5.8 +1.3
MDY S&P MidCap 400 SPDR 39.8 24 -7 5.6 +1.0
SPMD SPDR Portfolio Mid Cap 39.8 5 12 5.7 +1.2
IJH iShares Core S&P MidCap 39.8 7 10 5.7 +1.2
FNDA Schwab Fundamental Small Cap 39.6 25 -8 5.9 +1.4
IVOO Vanguard S&P Mid-Cap 400 39.6 15 2 5.7 +1.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 39.4 20 -3 5.5 +1.0
VBK Vanguard Small-Cap Growth ETF 39.0 7 10 2.1 -2.4
FSMD Fidelity Small-Mid Factor ETF 38.9 29 -12 6.3 +1.8
EWMC Invesco S&P Mid Cap 400 Equal Weight 38.8 40 -23 6.3 +1.7
EZM WisdomTree Midcap Earnings 38.6 38 -21 8.5 +3.9
SFYX SoFi Next 500 38.3 0 17 5.0 +0.5

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:
iShares MSCI USA Small-Cap ESG Optimized
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 9.1 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 17 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.56
 
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.