iShares Morningstar Small Cap Value ETF
ALTAR
Score™
9.0% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
12.1x P/Sales
ratio
0.8x
P/BV
ratio
1.2x Div.
yield
3.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares Morningstar Small Value Index Fund seeks investment results that correspond to the price and yield performance of the Morningstar Small Value Index. The Index measures the performance

FUND BASICS
Category US Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Jul 06, 2004
Assets (mns) $400
Currency USD
Expense ratio 30 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 243
Wgt avg mkt cap (mns) $3,525
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 87.6%
Small cap (<$2bn) 12.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PROSPERITY BANCSHARES INC 1.0 %
NUANCE COMMUNICATIONS INC 0.9 %
STERICYCLE INC 0.8 %
RALPH LAUREN CORP 0.8 %
WILLIAMS-SONOMA INC 0.8 %
IDACORP INC 0.8 %
L BRANDS, INC. 0.8 %
PORTLAND GENERAL ELECTRIC CO 0.8 %
HAWAIIAN ELECTRIC INDS 0.8 %
CAPITAL TRUST-CL A 0.8 %
Total 8.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.3 %
BRITAIN 1.8 %
BERMUDA 1.2 %
SWITZERLAND 0.3 %
IRELAND 0.3 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.5% 1.2% 4.4% 10.2% 8.1%

Market Correlations
versus... Beta R-squared
S&P500 1.21 74%
MSCI EAFE 1.12 52%
MSCI Emg. Mkts. 0.71 37%

Technical Indicators
Recent close $137.87
30d moving avg. $141.84
Annualized volatility 17.1%
Short interest (ETF) 0.1%
Short interest (Underlying) 6.1%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.2%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $6,503

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JKL Expense: 30 bp ALTAR Score™: 9.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JKL
Ticker Fund
Name
Overlap1
vs JKL
(%)
Expense
ratio
(bp)
Savings
vs JKL
(bp)
ALTAR
Score™
(%)
ALTAR
vs JKL
(%)
IJJ iShares S&P Mid-Cap 400 Value ETF 40.0 25 5 7.9 -1.2
MDYV SPDR S&P 400 Mid Cap Value ETF 40.0 15 15 8.0 -1.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 38.8 15 15 8.0 -1.1
FNK First Trust Mid Cap Value AlphaDEX Fund 32.7 70 -40 9.6 +0.6
EWMC Invesco S&P MidCap 400 Equal Weight ETF 32.0 40 -10 6.5 -2.5
JHSC John Hancock Multifactor Small Cap ETF 30.3 50 -20 5.8 -3.3
VBR Vanguard Small Cap Value Index Fund 30.3 7 23 7.9 -1.1
RWK Invesco S&P MidCap 400 Revenue ETF 28.5 39 -9 7.8 -1.3
SMDY Syntax Stratified MidCap ETF 28.1 30 0 6.5 -2.6
EZM WisdomTree U.S. MidCap Earnings Fund 26.7 38 -8 8.8 -0.2
VTWV Vanguard Russell 2000 Value Index Fund 26.4 15 15 6.4 -2.7
IWN iShares Russell 2000 Value ETF 26.3 24 6 6.3 -2.7
FNX First Trust Mid Cap Core AlphaDEX Fund 23.6 61 -31 6.6 -2.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 23.5 30 0 7.2 -1.8
AVUV Avantis U.S. Small Cap Value ETF 23.3 25 5 8.2 -0.8
RFV Invesco S&P Midcap 400 Pure Value ETF 23.2 35 -5 11.4 +2.4
MDY SPDR S&P Midcap 400 ETF Trust 22.7 23 7 5.8 -3.3
SPMD SPDR Portfolio Mid Cap ETF 22.7 5 25 5.9 -3.1
IJH iShares Core S&P Mid-Cap ETF 22.6 6 24 5.9 -3.1
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 22.6 48 -18 6.5 -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

  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 Morningstar Small Cap 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 11.2 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 9.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 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.