iShares Russell 2000
ALTAR
Score™
3.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
25.9x P/Sales
ratio
1.1x
P/BV
ratio
1.9x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Russell 2000 Index Fund seeks investment results that correspond to the price and yield performance of the small cap stocks which comprise the Russell 2000 Index.

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Investors
Website www.ishares.com
Inception date May 26, 2000
Assets (mns) $45,817
Currency USD
Expense ratio 19 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 1985
Wgt avg mkt cap (mns) $2,140
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 49.5%
Small cap (<$2bn) 50.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NOVOCURE LIMITED 0.4 %
HAEMONETICS CORP/MASS 0.3 %
TELADOC INC 0.3 %
GENERAC HOLDINGS INC 0.3 %
FIRST INDUSTRIAL REALTY TR 0.3 %
LUMENTUM HOLDINGS, INC. 0.3 %
RADIAN GROUP INC 0.3 %
ESSENT GROUP LTD 0.3 %
MARRIOTT VACATIONS WORLD 0.3 %
REXFORD INDUSTRIAL REALTY IN 0.3 %
Total 2.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
BERMUDA 1.2 %
BRITAIN 0.7 %
IRELAND 0.3 %
PUERTO RICO 0.3 %
CAYMAN ISLANDS 0.3 %
CANADA 0.2 %
NETHERLANDS 0.2 %
MONACO 0.1 %
LUXEMBOURG 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.
17.2% 5.0% 7.4% 12.3% 7.7%

Market Correlations
versus... Beta R-squared
S&P500 1.22 75%
MSCI EAFE 0.94 38%
MSCI Emg. Mkts. 0.54 21%

Technical Indicators
Recent close $158.92
30d moving avg. $154.69
Annualized volatility 17.0%
Short interest (ETF) 23.1%
Short interest (Underlying) 6.8%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 16,718
Turnover 5.8%
Bid/Ask (% of price) 0.01%
ADV underlying (mns) $20,644

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Russell 2000 ETF based on the alternatives' overlap in portfolio holdings with IWM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IWM Expense: 19 bp ALTAR Score™: 3.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IWM
Ticker Fund
Name
Overlap1
vs IWM
(%)
Expense
ratio
(bp)
Savings
vs IWM
(bp)
ALTAR
Score™
(%)
ALTAR
vs IWM
(%)
VTWO Vanguard Russell 2000 95.7 15 4 3.8 0.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 72.9 20 -1 5.8 +2.1
SPSM SPDR Portfolio Small Cap 69.8 5 14 4.6 +0.8
SCHA Schwab U.S. Small-Cap 68.0 4 15 5.1 +1.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 57.8 29 -10 5.0 +1.2
IWO iShares Russell 2000 Growth 55.9 24 -5 0.9 -2.9
VTWG Vanguard Russell 2000 Growth 55.6 20 -1 0.9 -2.9
IWN iShares Russell 2000 Value 55.2 24 -5 6.5 +2.7
VTWV Vanguard Russell 2000 Value 55.0 20 -1 6.6 +2.8
PBSM Invesco PureBeta MSCI USA Small Cap 53.3 6 13 5.2 +1.4
PRFZ Invesco FTSE-RAFI Small-Mid 1500 52.7 39 -20 4.7 +0.9
SPMD SPDR Portfolio Mid Cap 47.0 5 14 6.3 +2.5
IUSS Invesco Strategic US Small Company 44.9 23 -4 6.3 +2.5
ISMD Inspire Small/Mid Cap Impact 43.0 61 -42 4.7 +1.0
ESML iShares MSCI USA Small-Cap ESG Optimized 42.3 17 2 4.8 +1.1
VBR Vanguard Small-Cap Value ETF 42.2 7 12 7.8 +4.0
FNDA Schwab Fundamental Small Cap 41.7 25 -6 6.2 +2.4
VB Vanguard Smallcap ETF 40.4 5 14 5.6 +1.8
VXF Vanguard Extended Market 37.6 7 12 3.4 -0.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth 37.1 29 -10 1.3 -2.5

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 Russell 2000
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 7.0 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 3.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.
 

 

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.