iShares Focused Value Factor ETF
ALTAR
Score™
10.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
21.3x P/Sales
ratio
0.8x
P/BV
ratio
0.8x Div.
yield
4.3%


  • 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) $19
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) $12,639
Large cap (>$10bn) 39.8%
Mid cap ($2-10bn) 53.7%
Small cap (<$2bn) 6.5%
Developed mkts 98.2%
Emerging mkts 1.8%

TOP TEN HOLDINGS
LEGG MASON INC 5.3 %
KROGER CO 4.5 %
AFFILIATED MANAGERS GROUP 3.4 %
MERCURY GENERAL CORP 3.2 %
UIL HOLDINGS CORP 3.1 %
RELIANCE STEEL & ALUMINUM 3.0 %
SIGNATURE BANK 3.0 %
STEEL DYNAMICS INC 2.9 %
CNA FINANCIAL CORP 2.8 %
KINDER MORGAN INC 2.8 %
Total 34.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.0 %
PUERTO RICO 2.5 %
PANAMA 1.9 %








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.
-33.4% -30.3% -- -- -23.7%

Market Correlations
versus... Beta R-squared
S&P500 1.44 85%
MSCI EAFE 1.51 87%
MSCI Emg. Mkts. 1.17 81%

Technical Indicators
Recent close $32.43
30d moving avg. $34.33
Annualized volatility 33.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $8,546

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 10.6%


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
(%)
KBE SPDR S&P Bank ETF 19.4 35 -10 11.7 +1.1
KRE SPDR S&P Regional Banking ETF 18.9 35 -10 11.5 +0.9
FXO First Trust Financials AlphaDEX Fund 17.0 63 -38 11.8 +1.2
KBWR Invesco KBW Regional Banking ETF 14.6 35 -10 11.6 +1.0
RPV Invesco S&P 500 Pure Value ETF 13.6 35 -10 11.3 +0.7
FTXO First Trust Nasdaq Bank ETF 13.2 60 -35 9.1 -1.5
SPVU Invesco S&P 500 Enhanced Value ETF 12.7 13 12 11.5 +0.9
GBDV Global Beta Smart Income ETF 12.3 29 -4 8.8 -1.8
IAT iShares U.S. Regional Banks ETF 12.3 42 -17 11.2 +0.6
SLT Salt TruBeta High Exposure ETF 11.6 29 -4 9.5 -1.1
KIE SPDR S&P Insurance ETF 11.5 35 -10 10.3 -0.3
PY Principal Shareholder Yield Index ETF 11.4 29 -4 9.6 -1.0
RYF Invesco S&P 500 Equal Weight Financials ETF 10.3 40 -15 9.9 -0.7
RDIV Invesco S&P Ultra Dividend Revenue ETF 10.3 39 -14 11.2 +0.6
ONEY SPDR Russell 1000 Yield Focus ETF 10.1 20 5 9.4 -1.2
KBWB Invesco KBW Bank ETF 10.1 35 -10 10.5 -0.1
DVY iShares Select Dividend ETF 10.1 39 -14 9.7 -0.9
XLE Energy Select Sector SPDR Fund 10.0 13 12 4.5 -6.1
FENY Fidelity MSCI Energy Index ETF 10.0 8 17 4.2 -6.4
IYE iShares U.S. Energy ETF 10.0 42 -17 4.0 -6.6
VDE Vanguard Energy Index Fund 10.0 10 15 3.9 -6.7
JHME John Hancock Multifactor Energy ETF 10.0 40 -15 3.7 -6.9
RYE Invesco S&P 500 Equal Weight Energy ETF 10.0 40 -15 3.6 -7.0
RDVY First Trust Rising Dividend Achievers ETF 9.6 50 -25 8.0 -2.6
STLV iShares Factors US Value Style ETF 9.5 25 0 7.9 -2.7
FTA First Trust Large Cap Value AlphaDEX Fund 9.5 60 -35 9.3 -1.3
WBIY WBI Power Factor High Dividend ETF 9.4 70 -45 12.4 +1.8
JKI iShares Morningstar Mid-Cap Value ETF 9.4 30 -5 9.3 -1.3
RFV Invesco S&P Midcap 400 Pure Value ETF 9.3 35 -10 10.8 +0.2
AUSF Global X Adaptive U.S. Factor ETF 9.1 27 -2 8.0 -2.6
IGE iShares North American Natural Resources ETF 9.0 46 -21 4.1 -6.5
SPHB Invesco S&P 500 High Beta ETF 8.8 25 0 9.6 -1.0
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 8.7 49 -24 9.4 -1.2
FXN First Trust Energy AlphaDEX Fund 8.4 65 -40 -0.8 -11.4
IAK iShares U.S. Insurance ETF 8.3 43 -18 9.9 -0.7
PVAL Principal Contrarian Value Index ETF 8.2 29 -4 10.2 -0.4
FXZ First Trust Materials AlphaDEX Fund 8.1 65 -40 7.3 -3.3
FTXN First Trust Nasdaq Oil & Gas ETF 8.1 60 -35 2.1 -8.5
IXC iShares Global Energy ETF 8.0 46 -21 5.8 -4.8
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 8.0 29 -4 9.9 -0.7
JHMF John Hancock Multifactor Financials ETF 7.9 40 -15 7.9 -2.7
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 7.8 35 -10 8.7 -1.9
ESGS Columbia Sustainable U.S. Equity Income ETF 7.8 35 -10 8.6 -2.0
SYLD Cambria Shareholder Yield ETF 7.7 59 -34 9.0 -1.6
PXI Invesco DWA Energy Momentum ETF 7.6 60 -35 4.1 -6.5
SPYB SPDR S&P 500 Buyback ETF 7.5 0 25 0.0 -10.6
VALQ American Century STOXX U.S. Quality Value ETF 7.5 29 -4 9.2 -1.4
SPVM Invesco S&P 500 Value with Momentum ETF 7.4 39 -14 9.2 -1.4
KBWP Invesco KBW Property & Casualty Insurance ETF 7.3 35 -10 7.4 -3.2
XOP SPDR S&P Oil & Gas Exploration & Production ETF 7.3 35 -10 3.5 -7.1
IEO iShares U.S. Oil & Gas Exploration & Production ETF 7.3 42 -17 3.5 -7.1
PXE Invesco Dynamic Energy Exploration & Production ETF 7.3 63 -38 1.0 -9.6
CVY Invesco Zacks Multi-Asset Income ETF 7.2 97 -72 11.6 +1.0
IEFN iShares Evolved U.S. Financials ETF 7.0 18 7 9.5 -1.1
FAB First Trust Multi Cap Value AlphaDEX Fund 7.0 71 -46 9.7 -0.9
FNK First Trust Mid Cap Value AlphaDEX Fund 6.9 70 -45 10.4 -0.2
QDIV Global X S&P 500 Quality Dividend ETF 6.9 20 5 7.7 -2.9
FCPI Fidelity Stocks for Inflation ETF 6.7 29 -4 7.0 -3.6
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 6.7 60 -35 8.6 -2.0
SPYD SPDR S&P 500 High Dividend ETF 6.6 7 18 10.4 -0.2
QSY WisdomTree U.S. LargeCap Value Fund 6.6 38 -13 6.9 -3.7
VUSE Vident Core US Equity Fund 6.5 48 -23 8.4 -2.2
PXMV Invesco S&P MidCap Value with Momentum ETF 6.3 39 -14 10.3 -0.2
TPHD Timothy Plan High Dividend Stock ETF 6.3 52 -27 7.7 -2.9
EQWM Invesco S&P MidCap Quality ETF 6.3 25 0 6.5 -4.1
IJJ iShares S&P Mid-Cap 400 Value ETF 6.2 25 0 8.7 -1.9
MDYV SPDR S&P 400 Mid Cap Value ETF 6.2 15 10 8.8 -1.8
JVAL JPMorgan U.S. Value Factor ETF 6.2 12 13 8.8 -1.8
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 6.1 35 -10 8.7 -1.9
DHS WisdomTree U.S. High Dividend Fund 6.1 38 -13 8.7 -1.9
SPDV AAM S&P 500 High Dividend Value ETF 6.0 29 -4 11.0 +0.4
IVOV Vanguard S&P Mid-Cap 400 Value ETF 6.0 15 10 8.7 -1.9
SLX VanEck Vectors Steel ETF 6.0 56 -31 15.6 +5.0
XME SPDR S&P Metals & Mining ETF 6.0 35 -10 8.5 -2.1
VFH Vanguard Financials Index Fund 6.0 10 15 9.0 -1.6
VLU SPDR S&P 1500 Value Tilt ETF 6.0 12 13 7.5 -3.1
FILL iShares MSCI Global Energy Producers ETF 5.9 39 -14 6.4 -4.2
FNCL Fidelity MSCI Financials Index ETF 5.9 8 17 9.0 -1.6
VFVA Vanguard U.S. Value Factor ETF 5.9 14 11 11.7 +1.1
PKW Invesco Buyback Achievers ETF 5.8 62 -37 6.9 -3.7
PMOM Principal Sustainable Momentum Index ETF 5.8 29 -4 9.1 -1.5
TUSA First Trust Total US Market AlphaDEX ETF 5.6 70 -45 6.0 -4.6
FTHI First Trust High Income ETF 5.5 85 -60 5.0 -5.6
CZA Invesco Zacks Mid-Cap ETF 5.5 76 -51 6.3 -4.3
SPGP Invesco S&P 500 GARP ETF 5.5 35 -10 7.3 -3.3
RWK Invesco S&P MidCap 400 Revenue ETF 5.5 39 -14 8.2 -2.4
RWL Invesco S&P 500 Revenue ETF 5.5 39 -14 7.3 -3.3
SCHD Schwab U.S. Dividend Equity ETF 5.5 6 19 8.3 -2.3
FTLB First Trust Hedged BuyWrite Income ETF 5.4 85 -60 5.0 -5.6
NUMV Nuveen ESG Mid-Cap Value ETF 5.3 40 -15 7.8 -2.8
JKL iShares Morningstar Small Cap Value ETF 5.1 30 -5 10.5 -0.1
VRAI Virtus Real Asset Income ETF 5.1 55 -30 11.2 +0.6
RNDV US Equity Dividend Select ETF 5.0 50 -25 7.7 -2.9
USDY Pacific Global US Equity Income ETF 5.0 29 -4 7.3 -3.3
DON WisdomTree U.S. MidCap Dividend Fund 5.0 38 -13 7.8 -2.8
XLF Financial Select Sector SPDR Fund 5.0 13 12 8.5 -2.1
DTN WisdomTree U.S. Dividend ex-Financials Fund 4.9 38 -13 8.0 -2.6
SHE SPDR SSGA Gender Diversity Index ETF 4.9 20 5 5.5 -5.1
REVS Columbia Research Enhanced Value ETF 4.9 19 6 7.8 -2.8
SYV SPDR MFS Systematic Value Equity ETF 4.9 60 -35 7.5 -3.1

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 8.3 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 10.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.