iShares Morningstar Small Cap Value
ALTAR
Score™
8.9% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
13.7x P/Sales
ratio
0.8x
P/BV
ratio
1.3x 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) $404
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 241
Wgt avg mkt cap (mns) $3,503
Large cap (>$10bn) 2.6%
Mid cap ($2-10bn) 81.9%
Small cap (<$2bn) 15.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMCOR PLC 2.6 %
CHEMICAL FINANCIAL CORP 1.0 %
STERICYCLE INC 0.9 %
JABIL CIRCUIT INC 0.9 %
HANOVER INSURANCE GROUP INC/ 0.8 %
WILLIAMS-SONOMA INC 0.8 %
RADIAN GROUP INC 0.8 %
FIRST HORIZON NATIONAL CORP 0.8 %
MGIC INVESTMENT CORP 0.8 %
PORTLAND GENERAL ELECTRIC CO 0.8 %
Total 10.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.9 %
BRITAIN 4.7 %
BERMUDA 2.2 %
IRELAND 0.5 %
SWITZERLAND 0.5 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
15.8% 1.1% 4.2% 11.0% 8.3%

Market Correlations
versus... Beta R-squared
S&P500 1.20 74%
MSCI EAFE 1.09 51%
MSCI Emg. Mkts. 0.70 34%

Technical Indicators
Recent close $139.31
30d moving avg. $138.76
Annualized volatility 16.8%
Short interest (ETF) 0.1%
Short interest (Underlying) 6.1%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.2%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $6,009

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares Morningstar Small Cap Value 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™: 8.9%


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
(%)
IVOV Vanguard S&P Mid-Cap 400 Value 31.4 20 10 7.4 -1.5
MDYV SPDR S&P400 Mid Cap Value 31.3 15 15 7.5 -1.5
IJJ iShares S&P MidCap 400 Value 31.2 25 5 7.4 -1.6
EWMC Invesco S&P Mid Cap 400 Equal Weight 28.3 40 -10 6.6 -2.3
IWN iShares Russell 2000 Value 28.1 24 6 6.2 -2.7
VTWV Vanguard Russell 2000 Value 27.8 20 10 6.3 -2.6
JHSC John Hancock Multifactor Small Cap 27.5 50 -20 5.7 -3.2
VBR Vanguard Small-Cap Value ETF 27.4 7 23 7.7 -1.2
FNK First Trust Mid Cap Value AlphaDEX 26.6 70 -40 9.0 +0.1
AVUV Avantis U.S. Small Cap Value 25.8 25 5 7.5 -1.5
EZM WisdomTree Midcap Earnings 25.6 38 -8 7.7 -1.2
RWK Invesco S&P MidCap 400 Revenue ETF 25.5 39 -9 7.8 -1.2
PSC Principal U.S. Small Cap Index 24.4 38 -8 6.6 -2.3
ISMD Inspire Small/Mid Cap Impact 23.9 61 -31 4.6 -4.3
SCHA Schwab U.S. Small-Cap 21.3 4 26 5.0 -3.9
FYT First Trust Small Cap Value AlphaDEX 21.0 76 -46 7.2 -1.7
RFV Invesco S&P Midcap 400 Pure Value 21.0 35 -5 9.5 +0.6
OUSM O'Shares FTSE Russell Small Cap Quality Dividend 20.7 48 -18 6.7 -2.2
FNX First Trust Mid Cap Core Alpadex 20.6 62 -32 6.6 -2.3
SPSM SPDR Portfolio Small Cap 20.5 5 25 4.8 -4.1

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

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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 Morningstar Small Cap Value
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 11.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 8.9 %
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.