iShares S&P Small-cap 600 Value ETF
ALTAR
Score™		 9.4% info Recommen-
dation		 SPECULATIVE
2020E    2021E
P/E
ratio		 45.6x P/Sales
ratio		 0.6x
P/BV
ratio		 1.0x Div.
yield		 2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares S&P SmallCap 600 Value Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of U.S. small-cap value stocks, as represented by the S&P SmallCap 600/Citigroup Value Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date Jul 24, 2000
Assets (mns) $4,512
Currency USD
Expense ratio 25 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 453
Wgt avg mkt cap (mns) $1,385
Large cap (>$10bn) 0.1%
Mid cap ($2-10bn) 22.4%
Small cap (<$2bn) 77.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
QUAKER CHEMICAL CORP 0.8 %
AVISTA CORP 0.8 %
GREEN DOT CORP-CLASS A 0.8 %
MERIT MEDICAL SYSTEMS INC 0.8 %
MICHAEL KORS HOLDINGS LTD 0.8 %
ABM INDUSTRIES INC 0.8 %
AMERICAN EQUITY INVT LIFE HL 0.8 %
INTEGER HOLDINGS CORPORATION 0.8 %
OLD NATL BANCORP/IN 0.7 %
MACY'S INC 0.7 %
Total 7.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.0 %
BRITAIN 0.8 %
BERMUDA 0.7 %
PUERTO RICO 0.4 %
IRELAND 0.2 %
NETHERLANDS 0.2 %





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.
-24.4% -17.4% 2.0% 9.4% 11.1%

Market Correlations
versus... Beta R-squared
S&P500 1.37 83%
MSCI EAFE 1.42 77%
MSCI Emg. Mkts. 1.01 62%

Technical Indicators
Recent close $118.42
30d moving avg. $121.00
Annualized volatility 25.5%
Short interest (ETF) 0.3%
Short interest (Underlying) 6.0%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 423
Turnover 1.1%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $7,497

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares S&P Small-cap 600 Value ETF ETF based on the alternatives' overlap in portfolio holdings with IJS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IJS Expense: 25 bp ALTAR Score™: 9.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IJS
Ticker Fund
Name		 Overlap1
vs IJS
(%)		 Expense
ratio
(bp)		 Savings
vs IJS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IJS
(%)
SLYV SPDR S&P 600 Small Cap Value ETF 99.1 15 10 9.4 +0.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 94.3 15 10 9.8 +0.4
SLY SPDR S&P 600 Small Cap ETF 62.0 15 10 7.1 -2.2
SPSM SPDR Portfolio Small Cap ETF 61.9 5 20 7.2 -2.1
IJR iShares Core S&P Small Cap ETF 61.6 7 18 7.2 -2.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 60.9 40 -15 6.9 -2.5
VIOO Vanguard S&P Small-Cap 600 ETF 58.8 10 15 7.3 -2.1
RWJ Invesco S&P SmallCap 600 Revenue ETF 50.1 39 -14 7.8 -1.6
SSLY Syntax Stratified SmallCap ETF 43.8 30 -5 6.2 -3.1
EES WisdomTree SmallCap Earnings Fund 33.1 38 -13 11.8 +2.4
IWN iShares Russell 2000 Value ETF 32.9 24 1 7.4 -2.0
VTWV Vanguard Russell 2000 Value Index Fund 32.0 15 10 7.6 -1.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 31.2 29 -4 5.6 -3.7
ISMD Inspire Small/Mid Cap Impact ETF 30.8 60 -35 6.6 -2.8
FYT First Trust Small Cap Value AlphaDEX Fund 30.5 72 -47 9.6 +0.2
SLYG SPDR S&P 600 Small Cap Growth ETF 30.4 15 10 5.3 -4.1
IJT iShares S&P Small-Cap 600 Growth ETF 30.4 25 0 5.2 -4.2
PSCF Invesco S&P SmallCap Financials ETF 29.9 29 -4 11.9 +2.5
VIOG Vanguard S&P Small-Cap 600 Growth ETF 29.3 16 9 5.3 -4.1
RNSC Small Cap US Equity Select ETF 29.1 60 -35 7.8 -1.5
RZV Invesco S&P Smallcap 600 Pure Value ETF 28.9 35 -10 10.3 +0.9
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 28.8 35 -10 8.4 -1.0
FYX First Trust Small Cap Core AlphaDEX Fund 28.6 63 -38 6.7 -2.7
DES WisdomTree U.S. SmallCap Dividend Fund 28.5 38 -13 8.9 -0.5
TPSC Timothy Plan US Small Cap Core ETF 27.7 52 -27 8.4 -1.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 27.7 39 -14 4.2 -5.1
XSVM Invesco S&P SmallCap Value with Momentum ETF 27.1 39 -14 11.9 +2.6
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 26.4 29 -4 10.0 +0.6
FNDA Schwab Fundamental U.S. Small Co. Index ETF 25.8 25 0 6.8 -2.6
AVUV Avantis U.S. Small Cap Value ETF 25.8 25 0 9.4 +0.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 24.5 20 5 6.1 -3.3
CSML IQ Chaikin U.S. Small Cap ETF 24.5 35 -10 4.2 -5.1
XSLV Invesco S&P SmallCap Low Volatility ETF 24.3 25 0 6.1 -3.3
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 24.3 35 -10 8.4 -1.0
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 23.6 12 13 8.0 -1.3
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 23.6 30 -5 7.9 -1.5
IUSS Invesco Strategic US Small Company ETF 23.3 23 2 5.6 -3.8
IWM iShares Russell 2000 ETF 23.1 19 6 3.7 -5.7
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 22.8 35 -10 6.4 -2.9
AFSM First Trust Active Factor Small Cap ETF 22.3 75 -50 5.7 -3.7
VTWO Vanguard Russell 2000 Index Fund 21.5 10 15 3.7 -5.7
PSC Principal U.S. Small Cap Index ETF 21.4 38 -13 7.2 -2.2
XSHQ Invesco S&P SmallCap Quality ETF 20.4 29 -4 6.7 -2.7
ROGS Hartford Multifactor Global Small Cap ETF 20.3 34 -9 8.0 -1.3
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 20.2 39 -14 7.9 -1.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 19.7 24 1 7.3 -2.1
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 18.7 29 -4 1.8 -7.6
SQLV Legg Mason Small-Cap Quality Value 18.2 62 -37 8.0 -1.4
CALF Pacer US Small Cap Cash Cows 100 ETF 17.3 59 -34 13.3 +4.0
BUY USCF SummerHaven SHPEI Index Fund 16.5 80 -55 10.4 +1.1
SCHA Schwab U.S. Small-Cap ETF 16.0 4 21 4.7 -4.6
PSCI Invesco S&P SmallCap Industrials ETF 15.8 29 -4 6.6 -2.8
VBR Vanguard Small Cap Value Index Fund 14.9 7 18 8.5 -0.9
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 14.6 29 -4 9.6 +0.2
NUSC Nuveen ESG Small-Cap ETF 14.2 40 -15 5.4 -3.9
IWO iShares Russell 2000 Growth ETF 13.7 24 1 0.8 -8.6
VTWG Vanguard Russell 2000 Growth Index Fund 13.7 15 10 0.8 -8.6
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 13.3 17 8 5.2 -4.1
PXSG Invesco S&P SmallCap Momentum ETF 13.3 39 -14 5.0 -4.4
PBSM Invesco PureBeta MSCI USA Small Cap ETF 13.2 6 19 5.4 -4.0
VFVA Vanguard U.S. Value Factor ETF 12.9 14 11 11.6 +2.2
IWC iShares Micro-Cap ETF 12.9 60 -35 -3.9 -13.3
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.7 38 -13 9.2 -0.2
PSCH Invesco S&P SmallCap Health Care ETF 12.3 29 -4 3.0 -6.4
VFQY Vanguard U.S. Quality Factor ETF 11.9 13 12 6.1 -3.3
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 11.8 30 -5 11.2 +1.8
JKJ iShares Morningstar Small-Cap ETF 11.8 25 0 6.8 -2.6
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 11.5 80 -55 5.7 -3.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 11.3 20 5 4.8 -4.6
FAB First Trust Multi Cap Value AlphaDEX Fund 11.2 71 -46 9.6 +0.3
BKSE BNY Mellon US Small Cap Core Equity ETF 10.9 4 21 5.8 -3.6
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 10.8 35 -10 9.6 +0.2
SMDV ProShares Russell 2000 Dividend Growers ETF 10.5 40 -15 7.7 -1.7
KRE SPDR S&P Regional Banking ETF 10.5 35 -10 11.9 +2.5
VFMF Vanguard U.S. Multifactor ETF 10.4 19 6 7.2 -2.2
ROOF IQ US Real Estate Small Cap ETF 10.4 70 -45 12.3 +2.9
FYC First Trust Small Cap Growth AlphaDEX Fund 10.1 70 -45 2.6 -6.8
VB Vanguard Small-Cap ETF 10.0 5 20 5.4 -3.9
VFLQ Vanguard U.S. Liquidity Factor ETF 9.9 14 11 4.8 -4.6
VUSE Vident Core US Equity Fund 9.6 48 -23 8.3 -1.1
FSMD Fidelity Small-Mid Factor ETF 9.4 29 -4 7.1 -2.3
QABA First Trust NASDAQ ABA Community Bank Index Fund 9.1 60 -35 11.2 +1.8
VXF Vanguard Extended Market Index Fund 8.5 7 18 3.8 -5.6
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 8.3 20 5 9.6 +0.2
DWAS Invesco DWA SmallCap Momentum ETF 7.4 60 -35 -1.1 -10.4
KSCD KFA Small Cap Quality Dividend Index ETF 7.3 51 -26 6.6 -2.8
VAMO Cambria Value & Momentum ETF 6.6 64 -39 7.5 -1.8
PSCT Invesco S&P SmallCap Information Technology ETF 6.5 29 -4 5.7 -3.6
PSCM Invesco S&P SmallCap Materials ETF 6.4 29 -4 9.7 +0.4
KBE SPDR S&P Bank ETF 6.1 35 -10 12.0 +2.7
JKK iShares Morningstar Small-Cap Growth ETF 6.1 30 -5 1.1 -8.2
KOMP SPDR Kensho New Economies Composite ETF 5.6 20 5 2.5 -6.9
BFOR Barron's 400 ETF 5.6 65 -40 6.3 -3.0
TUSA First Trust Total US Market AlphaDEX ETF 5.5 70 -45 6.1 -3.3
VBK Vanguard Small-Cap Growth Index Fund 5.4 7 18 2.4 -6.9
IFRA iShares U.S. Infrastructure ETF 5.4 40 -15 6.0 -3.3
NIFE Direxion Fallen Knives ETF 5.3 50 -25 2.3 -7.1
JSML Janus Henderson Small Cap Growth Alpha ETF 5.1 30 -5 7.7 -1.6
RWR SPDR Dow Jones REIT ETF 5.0 25 0 7.7 -1.7
PSCE Invesco S&P SmallCap Energy ETF 5.0 29 -4 -2.3 -11.7

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 S&P Small-cap 600 Value 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 9.1 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 9.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.66 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.