ETF Research Center

iShares Core U.S. Value Fund seeks investment results that correspond to the price and yield performance of the large cap growth sector of the U.S. stock market, as represented by the Russell 3000 Value Index.

FUND BASICS
Category	US Equities
Fund Sponsor	Barclays Global Investors
Website	www.ishares.com
Inception date	Aug 04, 2000
Assets (mns)	$6,564
Currency	USD
Expense ratio	4 bp
Distributions	Quarterly

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	679
Wgt avg mkt cap (mns)	$211,537
Large cap (>$10bn)	90.1%
Mid cap ($2-10bn)	9.6%
Small cap (<$2bn)	0.4%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	25.6 %
APPLE INC	8.6 %
JPMORGAN CHASE & CO	3.2 %
AT&T INC	2.2 %
BANK OF AMERICA CORP	2.1 %
UNITEDHEALTH GROUP INC	1.9 %
CHEVRON CORP	1.7 %
BERKSHIRE HATHAWAY INC-CL B	1.7 %
WELLS FARGO & CO	1.6 %
WAL-MART STORES INC	1.3 %
CITIGROUP INC	1.3 %

TOP COUNTRY EXPOSURE
	UNITED STATES	95.8 %
	IRELAND	1.6 %
	BRITAIN	1.2 %
	SWITZERLAND	0.8 %
	BERMUDA	0.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru October 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
22.8%	14.0%	8.4%	12.2%	7.1%

Market Correlations
versus...	Beta	R-squared
S&P500	1.05	90%
MSCI EAFE	0.90	56%
MSCI Emg. Mkts.	0.58	39%

Technical Indicators
Recent close	$61.35
30d moving avg.	$59.15
Annualized volatility	13.3%
Short interest (ETF)	0.1%
Short interest (Underlying)	2.7%
Relative strength (RSI)	77

Liquidity measures
Avg. volume (thou.)	415
Turnover	0.4%
Bid/Ask (% of price)	0.02%
ADV underlying (mns)	$97,078

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Core U.S. Value ETF based on the alternatives' overlap in portfolio holdings with IUSV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

IUSV

Expense:

4 bp

ALTAR Score™:

7.2%

ALTERNATIVE ETFs BASED ON OVERLAP WITH IUSV
Ticker	Fund Name	Overlap¹ vs IUSV (%)	Expense ratio (bp)	Savings vs IUSV (bp)	ALTAR Score™ (%)	ALTAR vs IUSV (%)
IVE	iShares S&P 500 Value	92.8	18	-14	7.0	-0.2
VOOV	Vanguard S&P 500 Value	92.8	15	-11	7.0	-0.2
SPYV	SPDR Portfolio S&P 500 Value	92.7	4	0	7.1	-0.1
PRF	Invesco FTSE-RAFI U.S. 1000	68.7	39	-35	6.7	-0.5
FNDX	Schwab Fundamental Large Cap	67.4	25	-21	6.6	-0.5
IWD	iShares Russell 1000 Value	66.7	19	-15	7.0	-0.2
VONV	Vanguard Russell 1000 Value	66.5	12	-8	7.1	-0.1
VLU	SPDR S&P 1500 Value Tilt	66.2	12	-8	7.4	+0.3
FNDB	Schwab Fundamental Broad Mkt	65.9	25	-21	6.6	-0.6
OVLU	Invesco Russell 1000 Value Factor ETF	64.9	19	-15	7.9	+0.7
VTV	Vanguard Value ETF	64.2	4	0	7.2	+0.1
EPS	WisdomTree Earnings 500	63.9	8	-4	6.9	-0.2
PBP	Invesco S&P 500 Buy/Write	62.5	49	-45	5.6	-1.6
HSPX	Global X S&P 500 Covered Call	61.4	65	-61	5.4	-1.8
DTD	WisdomTree Total Dividend	61.1	28	-24	6.6	-0.6
SPY	S&P 500 SPDR	60.9	9	-5	5.9	-1.3
IVV	iShares Core S&P 500	60.8	4	0	5.9	-1.2
VOO	Vanguard S&P 500 ETF	60.6	3	1	6.0	-1.2
DLN	WisdomTree Large Cap Dividend	60.4	28	-24	6.5	-0.7
SCHV	Schwab U.S. Large-Cap Value	60.0	4	0	7.0	-0.2

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

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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 Core U.S. Value
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	14.7	%
Divided by: Fwd. P/BV	2.0	x
Less: Expense ratio	4	bp
Equals: ALTAR Score	7.2	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.57	CATEGORY AVERAGE	1.55

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.