iShares Focused Value Factor ETF
ALTAR
Score™		 14.6% info Recommen-
dation		 SPECULATIVE
2020E    2021E
P/E
ratio		 7.6x P/Sales
ratio		 0.6x
P/BV
ratio		 0.6x Div.
yield		 5.7%


  • 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) $17
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) $11,277
Large cap (>$10bn) 31.9%
Mid cap ($2-10bn) 53.3%
Small cap (<$2bn) 14.8%
Developed mkts 98.5%
Emerging mkts 1.5%

TOP TEN HOLDINGS
LEGG MASON INC 6.3 %
KROGER CO 5.1 %
UIL HOLDINGS CORP 3.6 %
MERCURY GENERAL CORP 3.6 %
ECHOSTAR CORP-A 3.1 %
RELIANCE STEEL & ALUMINUM 3.1 %
AFFILIATED MANAGERS GROUP 3.0 %
KINDER MORGAN INC 2.9 %
LOEWS CORP 2.9 %
CNA FINANCIAL CORP 2.8 %
Total 36.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
PUERTO RICO 2.5 %
PANAMA 1.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-40.0% -- -- -- -35.7%

Market Correlations
versus... Beta R-squared
S&P500 1.67 88%
MSCI EAFE 1.61 89%
MSCI Emg. Mkts. 1.32 82%

Technical Indicators
Recent close $27.63
30d moving avg. $35.83
Annualized volatility 35.2%
Short interest (ETF) 0.9%
Relative strength (RSI) 29

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.5%
Bid/Ask (% of price) 0.60%
ADV underlying (mns) $4,819

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™: 14.6%


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 17.7 35 -10 16.3 +1.7
KRE SPDR S&P Regional Banking ETF 17.5 35 -10 16.4 +1.8
FTXO First Trust Nasdaq Bank ETF 15.8 60 -35 15.7 +1.2
KBWR Invesco KBW Regional Banking ETF 15.0 35 -10 15.4 +0.8
SPVU Invesco S&P 500 Enhanced Value ETF 14.6 13 12 16.1 +1.5
RPV Invesco S&P 500 Pure Value ETF 14.1 35 -10 17.5 +2.9
FLAG FLAG-Forensic Accounting Long Short ETF 12.7 152 -127 12.1 -2.5
IAT iShares U.S. Regional Banks ETF 12.0 42 -17 15.9 +1.3
FXO First Trust Financials AlphaDEX Fund 11.6 63 -38 14.4 -0.2
KIE SPDR S&P Insurance ETF 10.4 35 -10 12.1 -2.5
RFV Invesco S&P Midcap 400 Pure Value ETF 10.3 35 -10 16.9 +2.4
STLV iShares Factors US Value Style ETF 10.2 25 0 10.0 -4.5
PXMV Invesco S&P MidCap Value with Momentum ETF 9.2 39 -14 14.2 -0.4
FTA First Trust Large Cap Value AlphaDEX Fund 8.9 60 -35 12.4 -2.2
FXN First Trust Energy AlphaDEX Fund 8.8 65 -40 8.3 -6.3
FTXN First Trust Nasdaq Oil & Gas ETF 8.8 60 -35 7.3 -7.3
XLE Energy Select Sector SPDR Fund 8.8 13 12 6.6 -8.0
JHME John Hancock Multifactor Energy ETF 8.8 40 -15 6.3 -8.3
IYE iShares U.S. Energy ETF 8.8 42 -17 6.1 -8.4
FENY Fidelity MSCI Energy Index ETF 8.8 8 17 6.1 -8.5
VDE Vanguard Energy Index Fund 8.8 10 15 6.1 -8.5
RYE Invesco S&P 500 Equal Weight Energy ETF 8.8 40 -15 5.5 -9.1
ESGS Columbia Sustainable U.S. Equity Income ETF 8.7 35 -10 12.3 -2.3
SYLD Cambria Shareholder Yield ETF 8.6 59 -34 15.5 +0.9
RYF Invesco S&P 500 Equal Weight Financials ETF 8.5 40 -15 12.1 -2.4
IAK iShares U.S. Insurance ETF 8.5 43 -18 12.3 -2.3
IGE iShares North American Natural Resources ETF 8.5 46 -21 6.0 -8.6
KBWB Invesco KBW Bank ETF 8.5 35 -10 14.6 +0.0
FXZ First Trust Materials AlphaDEX Fund 8.4 65 -40 10.6 -4.0
JHMF John Hancock Multifactor Financials ETF 8.3 40 -15 11.0 -3.6
COWZ Pacer US Cash Cows 100 ETF 8.2 49 -24 14.0 -0.6
DVLU First Trust Dorsey Wright Momentum & Value ETF 8.1 60 -35 14.7 +0.1
JKI iShares Morningstar Mid-Cap Value ETF 8.1 30 -5 13.6 -1.0
RDIV Invesco S&P Ultra Dividend Revenue ETF 7.9 39 -14 15.4 +0.8
KBWP Invesco KBW Property & Casualty Insurance ETF 7.9 35 -10 8.8 -5.8
SLT Salt TruBeta High Exposure ETF 7.8 29 -4 12.6 -2.0
VFVA Vanguard U.S. Value Factor ETF 7.8 13 12 16.9 +2.4
CZA Invesco Zacks Mid-Cap ETF 7.7 76 -51 9.6 -5.0
VUSE Vident Core US Equity Fund 7.7 48 -23 11.3 -3.3
FNK First Trust Mid Cap Value AlphaDEX Fund 7.5 70 -45 16.4 +1.9
VSL Volshares Large Capital ETF 7.5 65 -40 17.2 +2.7
IEFN iShares Evolved U.S. Financials ETF 7.4 18 7 12.4 -2.1
PXI Invesco DWA Energy Momentum ETF 7.3 60 -35 8.0 -6.6
ONEY SPDR Russell 1000 Yield Focus ETF 7.2 20 5 12.4 -2.2
FAB First Trust Multi Cap Value AlphaDEX Fund 7.1 71 -46 13.7 -0.9
VALX Validea Market Legends ETF 6.9 79 -54 19.2 +4.7
IXC iShares Global Energy ETF 6.8 46 -21 7.5 -7.1
IJJ iShares S&P Mid-Cap 400 Value ETF 6.8 25 0 12.3 -2.3
MDYV SPDR S&P 400 Mid Cap Value ETF 6.8 15 10 12.4 -2.2
SPYD SPDR S&P 500 High Dividend ETF 6.8 7 18 14.4 -0.2
IVOV Vanguard S&P Mid-Cap 400 Value ETF 6.8 15 10 12.5 -2.0
FTXD First Trust Nasdaq Retail ETF 6.6 60 -35 9.1 -5.5
FCPI Fidelity Stocks for Inflation ETF 6.6 29 -4 9.3 -5.3
JVAL JPMorgan U.S. Value Factor ETF 6.6 12 13 12.2 -2.4
QSY WisdomTree U.S. LargeCap Value Fund 6.4 38 -13 9.9 -4.7
EQRR ProShares Equities for Rising Rates ETF 6.4 35 -10 11.9 -2.7
CVY Invesco Zacks Multi-Asset Income ETF 6.4 97 -72 18.8 +4.3
VFH Vanguard Financials Index Fund 6.4 10 15 12.0 -2.6
PY Principal Shareholder Yield Index ETF 6.3 29 -4 12.9 -1.7
FNCL Fidelity MSCI Financials Index ETF 6.2 8 17 12.0 -2.6
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 6.1 35 -10 11.6 -3.0
DHS WisdomTree U.S. High Dividend Fund 6.0 38 -13 10.6 -4.0
PKW Invesco Buyback Achievers ETF 6.0 62 -37 9.6 -5.0
SLX VanEck Vectors Steel ETF 5.9 56 -31 22.8 +8.2
XME SPDR S&P Metals & Mining ETF 5.9 35 -10 12.7 -1.9
JKL iShares Morningstar Small Cap Value ETF 5.9 30 -5 15.4 +0.8
PEJ Invesco Dynamic Leisure & Entertainment ETF 5.9 63 -38 18.2 +3.6
IEO iShares U.S. Oil & Gas Exploration & Production ETF 5.9 42 -17 6.6 -8.0
XOP SPDR S&P Oil & Gas Exploration & Production ETF 5.9 35 -10 6.0 -8.6
PXE Invesco Dynamic Energy Exploration & Production ETF 5.9 63 -38 4.0 -10.5
AUSF Global X Adaptive U.S. Factor ETF 5.9 27 -2 10.8 -3.8
QVM Arrow QVM Equity Factor ETF 5.8 65 -40 15.0 +0.4
FDL First Trust Morningstar Dividend Leaders Index Fund 5.8 45 -20 11.2 -3.4
DVOP Source Dividend Opportunity ETF 5.5 50 -25 11.5 -3.1
AFMC First Trust Active Factor Mid Cap ETF 5.4 65 -40 10.0 -4.6
SPGP Invesco S&P 500 GARP ETF 5.4 35 -10 10.9 -3.6
PWV Invesco Dynamic Large Cap Value ETF 5.3 55 -30 10.8 -3.8
WBIY WBI Power Factor High Dividend ETF 5.3 70 -45 20.3 +5.8
USDY Pacific Global US Equity Income ETF 5.3 29 -4 10.7 -3.8
KCE SPDR S&P Capital Markets ETF 5.2 35 -10 10.7 -3.9
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 5.2 60 -35 13.1 -1.5
DIVB iShares U.S. Dividend & Buyback ETF 5.2 25 0 8.9 -5.7
XLF Financial Select Sector SPDR Fund 5.2 13 12 11.1 -3.5
FXG First Trust Consumer Staples AlphaDEX Fund 5.1 64 -39 8.5 -6.0
JHMS John Hancock Multifactor Consumer Staples ETF 5.1 40 -15 6.6 -8.0
SHE SPDR SSGA Gender Diversity Index ETF 5.1 20 5 7.6 -7.0
SPYB SPDR S&P 500 Buyback ETF 5.1 35 -10 11.9 -2.7
VALQ American Century STOXX U.S. Quality Value ETF 5.1 29 -4 12.0 -2.6
DON WisdomTree U.S. MidCap Dividend Fund 5.0 38 -13 11.2 -3.4
IYF iShares U.S. Financials ETF 5.0 42 -17 9.6 -5.0
JKF iShares Morningstar Large Cap Value ETF 4.9 25 0 9.7 -4.9
FVAL Fidelity Value Factor ETF 4.9 29 -4 11.1 -3.5
QDIV Global X S&P 500 Quality Dividend ETF 4.8 20 5 10.9 -3.7
PVAL Principal Contrarian Value Index ETF 4.8 29 -4 10.8 -3.8
DFNL Davis Select Financial ETF 4.8 64 -39 11.7 -2.9
SPDV AAM S&P 500 High Dividend Value ETF 4.8 29 -4 14.7 +0.1
PYZ Invesco DWA Basic Materials Momentum ETF 4.8 60 -35 9.0 -5.6
FILL iShares MSCI Global Energy Producers ETF 4.8 39 -14 8.5 -6.1
VLUE iShares Edge MSCI USA Value Factor ETF 4.8 15 10 14.6 +0.1
TPHD Timothy Plan High Dividend Stock ETF 4.7 52 -27 9.6 -4.9

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 9.3 %
Divided by: Fwd. P/BV 0.6 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 14.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.62 CATEGORY
AVERAGE		 1.51
 
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.