iShares S&P MidCap 400 Growth
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
22.0x P/Sales
ratio
2.3x
P/BV
ratio
3.3x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares S&P MidCap 400 Growth Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of U.S. mid-cap growth stocks as represented by the S&P MidCap 400/Citigroup Growth Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jul 28, 2000
Assets (mns) $7,405
Currency USD
Expense ratio 24 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 245
Wgt avg mkt cap (mns) $6,663
Large cap (>$10bn) 17.8%
Mid cap ($2-10bn) 79.9%
Small cap (<$2bn) 2.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ZEBRA TECHNOLOGIES CORP-CL A 1.5 %
DOMINO'S PIZZA INC 1.3 %
TYLER TECHNOLOGIES INC 1.2 %
WEST PHARMACEUTICAL SERVICES 1.2 %
FAIR ISAAC CORP 1.1 %
FACTSET RESEARCH SYSTEMS INC 1.1 %
TRIMBLE NAVIGATION LTD 1.1 %
MEDICAL PROPERTIES TRUST INC 1.1 %
NATIONAL RETAIL PROPERTIES 1.0 %
LIVE NATION INC 1.0 %
Total 11.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.3 %
BRITAIN 0.4 %
BERMUDA 0.4 %
SWITZERLAND 0.1 %
NETHERLANDS 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
22.9% 9.1% 9.0% 13.3% 7.7%

Market Correlations
versus... Beta R-squared
S&P500 1.10 89%
MSCI EAFE 0.97 58%
MSCI Emg. Mkts. 0.67 43%

Technical Indicators
Recent close $232.14
30d moving avg. $229.84
Annualized volatility 14.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 5.5%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 58
Turnover 0.2%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $11,098

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares S&P MidCap 400 Growth ETF based on the alternatives' overlap in portfolio holdings with IJK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IJK Expense: 24 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IJK
Ticker Fund
Name
Overlap1
vs IJK
(%)
Expense
ratio
(bp)
Savings
vs IJK
(bp)
ALTAR
Score™
(%)
ALTAR
vs IJK
(%)
MDYG SPDR S&P400 Mid Cap Growth 98.2 15 9 5.0 +0.1
IVOG Vanguard S&P Mid-Cap 400 Growth 97.1 20 4 5.0 +0.1
IJH iShares Core S&P MidCap 64.7 7 17 6.3 +1.3
MDY S&P MidCap 400 SPDR 64.7 24 0 6.1 +1.1
IVOO Vanguard S&P Mid-Cap 400 64.0 15 9 6.2 +1.3
EWMC Invesco S&P Mid Cap 400 Equal Weight 53.7 40 -16 6.6 +1.7
RFG Invesco S&P Midcap 400 Pure Growth 47.0 35 -11 3.7 -1.2
SPMD SPDR Portfolio Mid Cap 46.3 5 19 6.1 +1.2
XMMO Invesco S&P MidCap Momentum 35.2 39 -15 3.8 -1.1
SFYX SoFi Next 500 33.2 0 24 5.6 +0.7
FNY First Trust Mid Cap Growth AlphaDEX 31.4 70 -46 3.6 -1.3
VBK Vanguard Small-Cap Growth ETF 31.3 7 17 2.8 -2.1
RWK Invesco S&P MidCap 400 Revenue ETF 31.1 39 -15 7.7 +2.8
JHSC John Hancock Multifactor Small Cap 30.7 50 -26 5.7 +0.7
MDYV SPDR S&P400 Mid Cap Value 30.1 15 9 7.5 +2.5
IJJ iShares S&P MidCap 400 Value 30.0 25 -1 7.3 +2.4
IVOV Vanguard S&P Mid-Cap 400 Value 29.8 20 4 7.4 +2.5
EZM WisdomTree Midcap Earnings 29.5 38 -14 7.7 +2.8
RNMC First Trust Mid Cap US Equity Select 29.4 60 -36 6.6 +1.7
SCHM Schwab US Mid Cap 28.7 4 20 6.3 +1.4

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
iShares S&P MidCap 400 Growth
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 15.2 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 24 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.