iShares Focused Value Factor ETF
ALTAR
Score™		 7.7% info Recommen-
dation		 SPECULATIVE
2020E    2021E
P/E
ratio		 17.7x P/Sales
ratio		 1.3x
P/BV
ratio		 1.4x Div.
yield		 2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Focused Value Factor ETF seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks with prominent value characteristics.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Mar 19, 2019
Assets (mns) $28
Currency USD
Expense ratio 25 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 40
Wgt avg mkt cap (mns) $31,875
Large cap (>$10bn) 37.6%
Mid cap ($2-10bn) 62.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
OLIN CORP 4.1 %
EVERCORE PARTNERS INC-CL A 3.6 %
WEBSTER FINANCIAL CORP 3.2 %
PINNACLE FINANCIAL PARTNERS 3.0 %
EAST WEST BANCORP INC 3.0 %
PENSKE AUTO GROUP INC 3.0 %
REGIONS FINANCIAL CORP 2.9 %
POPULAR INC 2.9 %
WESTLAKE CHEMICAL CORP 2.8 %
HUNTSMAN CORP 2.8 %
Total 31.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
PUERTO RICO 2.9 %
BRITAIN 2.5 %








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.
-13.3% -13.3% -- -- -4.1%

Market Correlations
versus... Beta R-squared
S&P500 1.34 74%
MSCI EAFE 1.34 79%
MSCI Emg. Mkts. 1.18 74%

Technical Indicators
Recent close $45.90
30d moving avg. $43.66
Annualized volatility 32.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 11
Turnover 1.8%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $10,412

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 potential alternatives to the iShares Focused Value Factor ETF ETF based on the alternatives' overlap in portfolio holdings with FOVL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FOVL Expense: 25 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FOVL
Ticker Fund
Name		 Overlap1
vs FOVL
(%)		 Expense
ratio
(bp)		 Savings
vs FOVL
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs FOVL
(%)
FXO First Trust Financials AlphaDEX Fund 19.2 63 -38 9.2 +1.5
KBE SPDR S&P Bank ETF 18.2 35 -10 8.2 +0.5
KRE SPDR S&P Regional Banking ETF 16.3 35 -10 7.5 -0.2
FTXO First Trust Nasdaq Bank ETF 15.7 60 -35 6.7 -1.0
PEY Invesco High Yield Equity Dividend Achievers ETF 15.4 52 -27 8.2 +0.5
KBWR Invesco KBW Regional Banking ETF 15.3 35 -10 7.6 -0.1
FXZ First Trust Materials AlphaDEX Fund 14.8 65 -40 5.7 -2.0
RYF Invesco S&P 500 Equal Weight Financials ETF 14.4 40 -15 7.5 -0.2
WBIY WBI Power Factor High Dividend ETF 13.9 70 -45 8.4 +0.7
SPVU Invesco S&P 500 Enhanced Value ETF 13.3 13 12 9.4 +1.7
IAT iShares U.S. Regional Banks ETF 13.1 42 -17 7.9 +0.2
IEFN iShares Evolved U.S. Financials ETF 12.9 18 7 7.5 -0.2
SDY SPDR S&P Dividend ETF 12.8 35 -10 6.4 -1.4
RFV Invesco S&P Midcap 400 Pure Value ETF 12.7 35 -10 8.9 +1.2
RDIV Invesco S&P Ultra Dividend Revenue ETF 12.3 39 -14 8.7 +1.0
EQRR ProShares Equities for Rising Rates ETF 12.1 35 -10 6.2 -1.6
ESGS Columbia Sustainable U.S. Equity Income ETF 12.1 35 -10 7.4 -0.3
FDVV Fidelity Core Dividend ETF 11.7 29 -4 6.1 -1.7
RPV Invesco S&P 500 Pure Value ETF 11.4 35 -10 9.9 +2.1
JHMF John Hancock Multifactor Financials ETF 11.2 40 -15 6.4 -1.4
VYM Vanguard High Dividend Yield Index ETF 11.0 6 19 6.6 -1.1
JKF iShares Morningstar Large Cap Value ETF 11.0 25 0 6.6 -1.2
IYG iShares US Financial Services ETF 11.0 42 -17 5.9 -1.9
FNCL Fidelity MSCI Financials Index ETF 11.0 8 17 7.2 -0.5
DVY iShares Select Dividend ETF 11.0 39 -14 8.0 +0.3
VOOV Vanguard S&P 500 Value ETF 10.8 10 15 6.6 -1.2
XLF Financial Select Sector SPDR Fund 10.8 13 12 6.8 -0.9
VLU SPDR S&P 1500 Value Tilt ETF 10.6 12 13 6.1 -1.6
KBWB Invesco KBW Bank ETF 10.6 35 -10 7.9 +0.2
VFH Vanguard Financials Index Fund 10.6 10 15 7.2 -0.6
MGV Vanguard Mega Cap Value ETF 10.5 7 18 6.4 -1.3
KCE SPDR S&P Capital Markets ETF 10.2 35 -10 7.0 -0.7
IWX iShares Russell Top 200 Value ETF 10.2 20 5 6.0 -1.7
DIVB iShares U.S. Dividend & Buyback ETF 10.1 25 0 5.9 -1.9
PWV Invesco Dynamic Large Cap Value ETF 10.0 56 -31 6.8 -0.9
SPYD SPDR S&P 500 High Dividend ETF 10.0 7 18 9.2 +1.4
CCOR Core Alternative ETF 10.0 109 -84 4.2 -3.5
FCPI Fidelity Stocks for Inflation ETF 9.7 29 -4 5.7 -2.0
SDOG ALPS Sector Dividend Dogs ETF 9.7 40 -15 8.7 +1.0
QSY WisdomTree U.S. LargeCap Value Fund 9.6 38 -13 6.7 -1.0
FNK First Trust Mid Cap Value AlphaDEX Fund 9.5 70 -45 7.7 -0.0
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 9.4 30 -5 8.1 +0.4
QDIV Global X S&P 500 Quality Dividend ETF 9.4 20 5 6.5 -1.2
STLV iShares Factors US Value Style ETF 9.2 25 0 6.5 -1.2
DON WisdomTree U.S. MidCap Dividend Fund 9.1 38 -13 6.7 -1.0
MAGA Point Bridge GOP Stock Tracker ETF 9.0 72 -47 5.3 -2.4
SYLD Cambria Shareholder Yield ETF 9.0 59 -34 7.1 -0.6
VTV Vanguard Value Index Fund 9.0 4 21 6.5 -1.2
VFVA Vanguard U.S. Value Factor ETF 8.9 14 11 8.4 +0.7
CVY Invesco Zacks Multi-Asset Income ETF 8.9 94 -69 8.2 +0.5
FTA First Trust Large Cap Value AlphaDEX Fund 8.9 60 -35 7.3 -0.4
DIV Global X SuperDividend US ETF 8.8 46 -21 5.3 -2.5
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 8.8 75 -50 5.3 -2.5
NOBL ProShares S&P 500 Dividend Aristocrats ETF 8.8 35 -10 5.7 -2.0
PRF Invesco FTSE RAFI US 1000 ETF 8.8 39 -14 5.8 -2.0
IYF iShares U.S. Financials ETF 8.8 42 -17 6.0 -1.8
JVAL JPMorgan U.S. Value Factor ETF 8.6 12 13 7.1 -0.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 8.6 25 0 5.7 -2.0
SPYV SPDR Portfolio S&P 500 Value ETF 8.5 4 21 6.4 -1.4
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 8.5 41 -16 5.4 -2.3
IVE iShares S&P 500 Value ETF 8.4 18 7 6.2 -1.5
IUSV iShares Core S&P U.S. Value ETF 8.4 4 21 6.4 -1.3
IAI iShares U.S. Broker-Dealers ETF 8.3 42 -17 5.9 -1.8
REVS Columbia Research Enhanced Value ETF 8.3 19 6 6.7 -1.1
VONV Vanguard Russell 1000 Value Index Fund 8.2 8 17 6.1 -1.6
RDVY First Trust Rising Dividend Achievers ETF 8.2 50 -25 6.4 -1.3
HDV iShares Core High Dividend ETF 8.2 8 17 6.3 -1.4
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 8.2 60 -35 6.1 -1.6
EQWL Invesco Russell Top 200 Equal Weight ETF 8.2 25 0 5.6 -2.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 8.2 25 0 5.7 -2.1
JKL iShares Morningstar Small Cap Value ETF 8.1 30 -5 7.6 -0.2
AUSF Global X Adaptive U.S. Factor ETF 8.0 27 -2 8.0 +0.3
ONEY SPDR Russell 1000 Yield Focus ETF 8.0 20 5 7.2 -0.5
IWD iShares Russell 1000 Value ETF 7.9 19 6 6.0 -1.7
IXC iShares Global Energy ETF 7.8 46 -21 5.2 -2.6
XLE Energy Select Sector SPDR Fund 7.8 13 12 3.9 -3.8
IGE iShares North American Natural Resources ETF 7.8 46 -21 3.6 -4.1
FENY Fidelity MSCI Energy Index ETF 7.8 8 17 3.6 -4.1
IYE iShares U.S. Energy ETF 7.8 42 -17 3.5 -4.2
VDE Vanguard Energy Index Fund 7.8 10 15 3.5 -4.3
JHME John Hancock Multifactor Energy ETF 7.8 40 -15 3.4 -4.4
RYE Invesco S&P 500 Equal Weight Energy ETF 7.8 40 -15 3.3 -4.5
NANR SPDR S&P North American Natural Resources ETF 7.8 35 -10 3.1 -4.7
XOP SPDR S&P Oil & Gas Exploration & Production ETF 7.8 35 -10 3.1 -4.7
FTXN First Trust Nasdaq Oil & Gas ETF 7.8 60 -35 2.5 -5.3
FXN First Trust Energy AlphaDEX Fund 7.8 65 -40 1.8 -5.9
FILL iShares MSCI Global Energy Producers ETF 7.8 39 -14 5.5 -2.3
IJJ iShares S&P Mid-Cap 400 Value ETF 7.8 18 7 6.9 -0.8
MDYV SPDR S&P 400 Mid Cap Value ETF 7.8 15 10 6.9 -0.8
JDIV JPMorgan U.S. Dividend ETF 7.8 12 13 6.7 -1.0
FAB First Trust Multi Cap Value AlphaDEX Fund 7.6 71 -46 7.5 -0.2
FCTR First Trust Lunt U.S. Factor Rotation ETF 7.6 65 -40 1.2 -6.5
PKW Invesco Buyback Achievers ETF 7.6 62 -37 5.4 -2.3
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 7.4 35 -10 7.7 -0.1
FDRR Fidelity Dividend ETF for Rising Rates 7.4 29 -4 6.0 -1.8
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 7.4 35 -10 7.7 -0.1

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 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 Focused Value Factor ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.3 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.60 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.