ETF Research Center

iShares Dow Jones U.S. Index Fund objective seeks investment results that correspond to the performance of the Dow Jones U.S. Total Market Index.

FUND BASICS
Category	US Equities
Fund Sponsor	Barclays Global Fund Advisors
Website	www.ishares.com
Inception date	Jun 16, 2000
Assets (mns)	$1,200
Currency	USD
Expense ratio	20 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	1177
Wgt avg mkt cap (mns)	$228,392
Large cap (>$10bn)	88.7%
Mid cap ($2-10bn)	11.1%
Small cap (<$2bn)	0.2%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	19.1 %
MICROSOFT CORP	3.7 %
APPLE INC	3.5 %
AMAZON.COM INC	2.6 %
FACEBOOK	1.6 %
BERKSHIRE HATHAWAY INC-CL B	1.4 %
JPMORGAN CHASE & CO	1.4 %
ALPHABET INC. CLASS C	1.3 %
ALPHABET INC. CLASS A	1.3 %
JOHNSON & JOHNSON	1.2 %
VISA INC-CLASS A SHARES	1.1 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.1 %
	IRELAND	1.7 %
	BRITAIN	1.1 %
	SWITZERLAND	0.4 %
	BERMUDA	0.3 %
	PUERTO RICO	0.0 %
	CAYMAN ISLANDS	0.0 %
	NETHERLANDS	0.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru September 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
20.1%	3.4%	10.3%	13.0%	6.0%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	100%
MSCI EAFE	0.89	64%
MSCI Emg. Mkts.	0.59	46%

Technical Indicators
Recent close	$148.15
30d moving avg.	$147.53
Annualized volatility	12.3%
Short interest (ETF)	0.5%
Short interest (Underlying)	2.7%
Relative strength (RSI)	51

Liquidity measures
Avg. volume (thou.)	17
Turnover	0.2%
Bid/Ask (% of price)	0.03%
ADV underlying (mns)	$187,164

Distributions

FINDING ALTERNATIVE FUNDS

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

Benchmark ticker:

IYY

Expense:

20 bp

ALTAR Score™:

5.8%

ALTERNATIVE ETFs BASED ON OVERLAP WITH IYY
Ticker	Fund Name	Overlap¹ vs IYY (%)	Expense ratio (bp)	Savings vs IYY (bp)	ALTAR Score™ (%)	ALTAR vs IYY (%)
SCHK	Schwab 1000 Index	97.6	5	15	6.0	+0.2
IWB	iShares Russell 1000	96.9	15	5	5.9	+0.1
VONE	Vanguard Russell 1000	96.7	12	8	5.9	+0.1
SCHB	Schwab U.S. Broad Market	95.3	3	17	5.9	+0.1
ITOT	iShares Core S&P Total US	94.8	3	17	5.8	-0.0
SCHX	Schwab U.S. Large-Cap	94.8	3	17	6.0	+0.2
IWV	iShares Russell 3000	94.7	20	0	5.7	-0.1
VTHR	Vanguard Russell 3000	94.5	15	5	5.8	-0.1
VTI	Vanguard Total Market	94.4	3	17	5.8	+0.0
BBUS	JP Morgan Betabuilders U.S. Equity	90.7	2	18	6.0	+0.2
PBUS	Invesco PureBeta MSCI USA	90.6	4	16	6.1	+0.3
SPTM	SPDR Portfolio Total Stock Market	90.6	3	17	5.9	+0.0
VV	Vanguard Large-Cap ETF	89.9	4	16	6.0	+0.2
IVV	iShares Core S&P 500	87.5	4	16	6.1	+0.3
SPY	S&P 500 SPDR	87.5	9	11	6.1	+0.2
VOO	Vanguard S&P 500 ETF	87.2	3	17	6.1	+0.3
SPLG	SPDR Portfolio Large Cap	87.2	3	17	6.0	+0.1
HSPX	Global X S&P 500 Covered Call	87.2	65	-45	5.5	-0.3
PBP	Invesco S&P 500 Buy/Write	87.1	49	-29	5.6	-0.2
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free	84.3	20	0	6.1	+0.3

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	**	**	**	**	**	**	**
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

	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 DJ US Total Market
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	16.6	%
Divided by: Fwd. P/BV	2.8	x
Less: Expense ratio	20	bp
Equals: ALTAR Score	5.8	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.49	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.