iShares Morningstar Small Cap Value ETF
ALTAR
Score™		 11.0% info Recommen-
dation		 SPECULATIVE
2020E    2021E
P/E
ratio		 26.3x P/Sales
ratio		 0.7x
P/BV
ratio		 1.0x Div.
yield		 3.2%


  • 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 Jun 28, 2004
Assets (mns) $236
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 239
Wgt avg mkt cap (mns) $3,575
Large cap (>$10bn) 0.4%
Mid cap ($2-10bn) 88.8%
Small cap (<$2bn) 10.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
OWENS CORNING 1.0 %
THOR INDUSTRIES INC 0.9 %
LAMAR ADVERTISING COMPANY CLASS A 0.9 %
INGREDION INC 0.9 %
ARROW ELECTRONICS INC 0.8 %
FIRST AMERICAN FINANCIAL 0.8 %
STEEL DYNAMICS INC 0.8 %
UNITED THERAPEUTICS CORP 0.8 %
KIMCO REALTY CORP 0.8 %
SEALED AIR CORP 0.8 %
Total 8.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.3 %
BERMUDA 1.5 %
BRITAIN 1.3 %
SINGAPORE 0.8 %
CANADA 0.4 %






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.
-26.6% -22.1% -1.4% 7.2% 6.2%

Market Correlations
versus... Beta R-squared
S&P500 1.45 85%
MSCI EAFE 1.51 80%
MSCI Emg. Mkts. 1.08 65%

Technical Indicators
Recent close $98.14
30d moving avg. $106.33
Annualized volatility 26.7%
Short interest (ETF) 0.0%
Short interest (Underlying) 6.1%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.6%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $18,638

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 11.0%


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 42.8 25 5 9.0 -2.0
MDYV SPDR S&P 400 Mid Cap Value ETF 42.8 15 15 9.1 -1.9
IVOV Vanguard S&P Mid-Cap 400 Value ETF 41.6 15 15 9.0 -2.0
FNK First Trust Mid Cap Value AlphaDEX Fund 40.3 70 -40 11.0 -0.0
EZM WisdomTree U.S. MidCap Earnings Fund 35.4 38 -8 9.6 -1.3
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 31.6 29 1 10.4 -0.6
EWMC Invesco S&P MidCap 400 Equal Weight ETF 31.3 40 -10 7.5 -3.5
RWK Invesco S&P MidCap 400 Revenue ETF 31.1 39 -9 8.4 -2.5
VBR Vanguard Small Cap Value Index Fund 30.9 7 23 8.8 -2.2
RNMC Mid Cap US Equity Select ETF 27.8 60 -30 8.1 -2.9
FNX First Trust Mid Cap Core AlphaDEX Fund 27.5 61 -31 6.6 -4.4
JHSC John Hancock Multifactor Small Cap ETF 27.2 42 -12 6.1 -4.9
PVAL Principal Contrarian Value Index ETF 26.9 29 1 10.7 -0.3
SMDY Syntax Stratified MidCap ETF 26.6 30 0 6.5 -4.4
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 25.8 20 10 9.9 -1.1
AFMC First Trust Active Factor Mid Cap ETF 24.8 65 -35 6.5 -4.5
AVUV Avantis U.S. Small Cap Value ETF 23.9 25 5 9.8 -1.2
MDY SPDR S&P Midcap 400 ETF Trust 23.7 23 7 6.6 -4.3
IJH iShares Core S&P Mid-Cap ETF 23.5 6 24 6.8 -4.2
PMOM Principal Sustainable Momentum Index ETF 23.5 29 1 9.7 -1.3
SPMD SPDR Portfolio Mid Cap ETF 23.5 5 25 6.8 -4.2
DON WisdomTree U.S. MidCap Dividend Fund 22.9 38 -8 8.0 -2.9
IVOO Vanguard S&P Mid-Cap 400 ETF 22.7 10 20 6.7 -4.3
BKSE BNY Mellon US Small Cap Core Equity ETF 22.1 4 26 5.9 -5.1
PXMV Invesco S&P MidCap Value with Momentum ETF 21.8 39 -9 10.7 -0.2
FAB First Trust Multi Cap Value AlphaDEX Fund 21.2 71 -41 10.1 -0.9
RFV Invesco S&P Midcap 400 Pure Value ETF 20.9 35 -5 11.1 +0.1
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 20.1 30 0 8.0 -2.9
IWN iShares Russell 2000 Value ETF 19.9 24 6 7.7 -3.3
VUSE Vident Core US Equity Fund 19.0 48 -18 8.6 -2.4
VFVA Vanguard U.S. Value Factor ETF 18.8 14 16 12.1 +1.1
AUSF Global X Adaptive U.S. Factor ETF 18.8 27 3 8.1 -2.9
ONEY SPDR Russell 1000 Yield Focus ETF 18.5 20 10 9.8 -1.2
VTWV Vanguard Russell 2000 Value Index Fund 18.4 15 15 7.9 -3.1
PBSM Invesco PureBeta MSCI USA Small Cap ETF 18.4 6 24 5.5 -5.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 17.8 17 13 5.3 -5.7
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 17.0 7 23 5.6 -5.4
PSC Principal U.S. Small Cap Index ETF 17.0 38 -8 7.4 -3.6
NUSC Nuveen ESG Small-Cap ETF 16.4 40 -10 5.5 -5.4
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 16.3 48 -18 5.9 -5.1
JDIV JPMorgan U.S. Dividend ETF 15.8 12 18 8.1 -2.8
SLT Salt TruBeta High Exposure ETF 15.7 29 1 9.9 -1.1
VB Vanguard Small-Cap ETF 15.7 5 25 5.5 -5.5
SCHA Schwab U.S. Small-Cap ETF 15.6 4 26 4.8 -6.2
FSMD Fidelity Small-Mid Factor ETF 15.5 29 1 7.2 -3.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 14.6 25 5 7.0 -4.0
EQAL Invesco Russell 1000 Equal Weight ETF 14.2 20 10 5.8 -5.1
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 14.1 24 6 7.4 -3.5
IUSS Invesco Strategic US Small Company ETF 13.7 23 7 5.7 -5.3
SFYX Sofi Next 500 ETF 13.7 0 30 6.0 -5.0
SCHM Schwab U.S. Mid-Cap ETF 13.5 4 26 6.4 -4.6
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 13.4 24 6 6.4 -4.6
ISMD Inspire Small/Mid Cap Impact ETF 13.4 60 -30 6.8 -4.2
DES WisdomTree U.S. SmallCap Dividend Fund 13.3 38 -8 9.2 -1.7
STLV iShares Factors US Value Style ETF 13.2 25 5 8.1 -2.9
FXO First Trust Financials AlphaDEX Fund 13.2 63 -33 12.3 +1.3
JVAL JPMorgan U.S. Value Factor ETF 13.0 12 18 9.0 -2.0
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 12.6 60 -30 8.9 -2.1
RVRS Reverse Cap Weighted U.S. Large Cap ETF 12.3 29 1 8.5 -2.4
FXD First Trust Consumer Discretionary AlphaDEX Fund 12.2 64 -34 7.9 -3.1
AFSM First Trust Active Factor Small Cap ETF 12.2 75 -45 5.8 -5.1
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 12.2 25 5 6.7 -4.3
IFRA iShares U.S. Infrastructure ETF 12.0 40 -10 6.3 -4.7
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 11.9 35 -5 8.7 -2.3
VALQ American Century STOXX U.S. Quality Value ETF 11.1 29 1 9.4 -1.6
PY Principal Shareholder Yield Index ETF 11.1 29 1 9.9 -1.1
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 11.1 29 1 5.8 -5.2
FYT First Trust Small Cap Value AlphaDEX Fund 11.0 72 -42 10.0 -0.9
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 10.8 29 1 6.9 -4.1
FYX First Trust Small Cap Core AlphaDEX Fund 10.7 63 -33 6.9 -4.1
KBE SPDR S&P Bank ETF 10.6 35 -5 12.5 +1.6
IWM iShares Russell 2000 ETF 10.6 19 11 3.7 -7.2
COWZ Pacer US Cash Cows 100 ETF 10.6 49 -19 11.2 +0.2
RNSC Small Cap US Equity Select ETF 10.5 60 -30 8.1 -2.8
VXF Vanguard Extended Market Index Fund 10.4 7 23 3.8 -7.2
TPSC Timothy Plan US Small Cap Core ETF 10.4 52 -22 8.7 -2.3
CSML IQ Chaikin U.S. Small Cap ETF 10.4 35 -5 4.4 -6.6
TUSA First Trust Total US Market AlphaDEX ETF 10.3 70 -40 6.1 -4.9
SPHB Invesco S&P 500 High Beta ETF 10.3 25 5 9.9 -1.0
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 10.3 49 -19 9.8 -1.2
CVY Invesco Zacks Multi-Asset Income ETF 10.2 97 -67 12.1 +1.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 10.1 20 10 4.8 -6.1
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 9.9 35 -5 8.6 -2.4
KRE SPDR S&P Regional Banking ETF 9.7 35 -5 12.4 +1.4
VTWO Vanguard Russell 2000 Index Fund 9.5 10 20 3.8 -7.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 9.4 20 10 6.2 -4.7
SYLD Cambria Shareholder Yield ETF 9.4 59 -29 9.3 -1.7
DVY iShares Select Dividend ETF 9.1 39 -9 10.1 -0.9
BUY USCF SummerHaven SHPEI Index Fund 9.0 80 -50 10.8 -0.2
EQWM Invesco S&P MidCap Quality ETF 9.0 25 5 6.5 -4.5
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 9.0 12 18 8.3 -2.7
SMMD iShares Russell 2500 ETF 8.8 15 15 5.6 -5.4
IJK iShares S&P Mid-Cap 400 Growth ETF 8.8 24 6 4.9 -6.0
MDYG SPDR S&P 400 Mid Cap Growth ETF 8.7 15 15 5.0 -5.9
IWS iShares Russell Mid-Cap Value ETF 8.7 24 6 7.5 -3.5
IAT iShares U.S. Regional Banks ETF 8.6 42 -12 11.9 +0.9
QSY WisdomTree U.S. LargeCap Value Fund 8.6 38 -8 7.0 -3.9
VFLQ Vanguard U.S. Liquidity Factor ETF 8.5 14 16 4.9 -6.1
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 8.3 15 15 5.0 -6.0
XMLV Invesco S&P MidCap Low Volatility ETF 8.1 25 5 5.8 -5.2

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%.

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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 10.4 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 11.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.63 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.