iShares Edge MSCI Multifactor USA ETF
ALTAR
Score™		 7.0% info Recommen-
dation		 OVERWEIGHT
2020E    2021E
P/E
ratio		 19.7x P/Sales
ratio		 1.5x
P/BV
ratio		 2.4x Div.
yield		 2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares FactorSelect MSCI USA ETF tracks an index of US large- and midcap equities. Stocks are selected and weighted to increase exposure to 4 factors (quality, value, momentum and size) while maintaining similar characteristics to the MSCI USA index.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Apr 30, 2015
Assets (mns) $823
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 158
Wgt avg mkt cap (mns) $147,615
Large cap (>$10bn) 85.3%
Mid cap ($2-10bn) 14.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INTEL CORP 3.5 %
APPLE INC 3.1 %
WAL-MART STORES INC 2.9 %
INTUIT INC 2.7 %
MICROSOFT CORP 2.6 %
TARGET CORP 2.5 %
AT&T INC 2.4 %
DUKE ENERGY CORP 2.3 %
BIOGEN IDEC INC 2.3 %
MICRON TECHNOLOGY INC 2.1 %
Total 26.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.0 %
IRELAND 2.6 %
SWITZERLAND 1.6 %
BRITAIN 0.7 %
BERMUDA 0.6 %
SINGAPORE 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.3% 7.5% 6.3% -- 6.7%

Market Correlations
versus... Beta R-squared
S&P500 1.03 97%
MSCI EAFE 1.06 87%
MSCI Emg. Mkts. 0.77 71%

Technical Indicators
Recent close $31.41
30d moving avg. $29.45
Annualized volatility 17.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 286
Turnover 1.1%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $74,703

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the iShares Edge MSCI Multifactor USA ETF ETF based on the alternatives' overlap in portfolio holdings with LRGF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: LRGF Expense: 20 bp ALTAR Score™: 7.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH LRGF
Ticker Fund
Name		 Overlap1
vs LRGF
(%)		 Expense
ratio
(bp)		 Savings
vs LRGF
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs LRGF
(%)
ACWF iShares FactorSelect MSCI Global ETF 40.0 35 -15 8.2 +1.2
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 33.3 25 -5 7.4 +0.4
ONEV SPDR Russell 1000 Low Volatility Focus ETF 31.6 20 0 7.0 +0.0
DYNF BlackRock U.S. Equity Factor Rotation ETF 29.5 30 -10 6.8 -0.2
VALQ American Century STOXX U.S. Quality Value ETF 29.1 29 -9 8.9 +1.9
AFLG First Trust Active Factor Large Cap ETF 29.0 55 -35 5.6 -1.4
VLUE iShares Edge MSCI USA Value Factor ETF 28.9 15 5 11.1 +4.1
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 28.8 20 0 7.6 +0.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 27.4 17 3 6.5 -0.5
SCIU Global X Scientific Beta US ETF 27.1 19 1 5.8 -1.2
FLQL Franklin LibertyQ U.S. Equity ETF 27.0 15 5 6.3 -0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 26.9 20 0 6.6 -0.4
ROUS Hartford Multifactor US Equity ETF 25.0 19 1 7.2 +0.2
VO Vanguard Mid-Cap Index Fund 24.8 4 16 5.5 -1.5
JVAL JPMorgan U.S. Value Factor ETF 24.7 12 8 8.8 +1.8
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 24.5 75 -55 3.7 -3.3
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 24.5 17 3 6.9 -0.1
SPVM Invesco S&P 500 Value with Momentum ETF 24.4 39 -19 9.3 +2.4
FEX First Trust Large Cap Core AlphaDEX Fund 24.2 60 -40 6.1 -0.9
REVS Columbia Research Enhanced Value ETF 24.2 19 1 7.6 +0.6
DSTL Distillate US Fundamental Stability & Value ETF 24.2 39 -19 6.5 -0.5
QLC FlexShares US Quality Large Cap Index Fund 24.1 32 -12 5.6 -1.4
JHMM John Hancock Multifactor Mid Cap ETF 24.0 44 -24 5.7 -1.3
EUSA iShares MSCI USA Equal Weighted ETF 23.8 15 5 6.1 -0.9
JHML John Hancock Multifactor Large Cap ETF 23.8 34 -14 5.6 -1.4
CFA VictoryShares US 500 Volatility Weighted Index ETF 23.5 35 -15 5.8 -1.2
SIZE iShares Edge MSCI USA Size Factor ETF 23.5 15 5 6.0 -1.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 23.3 19 1 5.7 -1.3
IUS Invesco Strategic US ETF 23.2 19 1 6.2 -0.8
VOE Vanguard Mid-Cap Value Index Fund 23.2 7 13 7.9 +0.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 23.2 24 -4 6.0 -1.0
TPLC Timothy Plan US Large Cap Core ETF 23.0 52 -32 5.4 -1.6
JHMT John Hancock Multifactor Technology ETF 23.0 40 -20 5.1 -1.9
RNLC Large Cap US Equity Select ETF 22.9 60 -40 6.2 -0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 22.8 9 11 5.6 -1.4
RVRS Reverse Cap Weighted U.S. Large Cap ETF 22.8 29 -9 7.3 +0.3
ONEY SPDR Russell 1000 Yield Focus ETF 22.6 20 0 8.4 +1.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 22.3 25 -5 6.6 -0.4
IWS iShares Russell Mid-Cap Value ETF 22.2 24 -4 7.2 +0.2
EXT WisdomTree U.S. Total Earnings Fund 22.1 28 -8 5.8 -1.2
QUS SPDR MSCI USA StrategicFactors ETF 22.1 15 5 5.9 -1.1
RWL Invesco S&P 500 Revenue ETF 21.9 39 -19 6.8 -0.2
QDF FlexShares Quality Dividend Index Fund 21.8 37 -17 6.9 -0.1
RSP Invesco S&P 500 Equal Weight ETF 21.7 20 0 6.9 -0.1
RFDA RiverFront Dynamic US Dividend Advantage ETF 21.7 52 -32 6.0 -1.0
AVUS Avantis U.S. Equity ETF 21.2 15 5 5.8 -1.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 21.2 25 -5 6.6 -0.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 21.2 29 -9 6.2 -0.8
FCPI Fidelity Stocks for Inflation ETF 21.1 29 -9 6.8 -0.2
FVAL Fidelity Value Factor ETF 21.0 29 -9 8.1 +1.1
EPS WisdomTree U.S. Earnings 500 Fund 21.0 8 12 6.5 -0.5
DEF Invesco Defensive Equity ETF 21.0 55 -35 5.0 -2.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 20.8 19 1 6.3 -0.7
RPG Invesco S&P 500 Pure Growth ETF 20.7 35 -15 4.4 -2.6
PRF Invesco FTSE RAFI US 1000 ETF 20.7 39 -19 6.8 -0.2
QUAL iShares MSCI Usa Quality Factor ETF 20.5 15 5 5.4 -1.6
RECS Columbia Research Enhanced Core ETF 20.4 15 5 5.7 -1.3
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 20.3 30 -10 6.0 -1.0
QDEF FlexShares Quality Dividend Defensive Index Fund 20.3 37 -17 6.3 -0.7
SPGP Invesco S&P 500 GARP ETF 20.3 35 -15 7.3 +0.3
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 20.2 29 -9 4.3 -2.7
FTC First Trust Large Cap Growth AlphaDEX Fund 20.2 61 -41 3.0 -4.0
JQUA JPMorgan U.S. Quality Factor ETF 20.1 12 8 5.3 -1.7
JKH iShares Morningstar Mid-Cap Growth ETF 20.0 30 -10 2.4 -4.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 19.9 9 11 5.9 -1.1
RYT Invesco S&P 500 Equal Weight Technology ETF 19.7 40 -20 7.4 +0.4
FTA First Trust Large Cap Value AlphaDEX Fund 19.5 60 -40 9.1 +2.1
VLU SPDR S&P 1500 Value Tilt ETF 19.5 12 8 7.4 +0.4
IWR iShares Russell Midcap ETF 19.5 19 1 5.7 -1.3
WLDR Affinity World Leaders Equity ETF 19.4 47 -27 9.6 +2.6
VEGN US Vegan Climate ETF 19.4 60 -40 5.3 -1.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 19.4 15 5 6.4 -0.6
SCHM Schwab U.S. Mid-Cap ETF 19.3 4 16 6.3 -0.7
ESG FlexShares STOXX US ESG Impact Index Fund 19.2 32 -12 5.2 -1.8
FDMO Fidelity Momentum Factor ETF 19.2 29 -9 3.9 -3.1
JMOM JPMorgan U.S. Momentum Factor ETF 19.2 12 8 3.9 -3.1
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 19.2 35 -15 6.7 -0.3
SYE SPDR MFS Systematic Core Equity ETF 19.1 60 -40 5.9 -1.1
ESGU iShares MSCI USA ESG Optimized ETF 19.1 15 5 5.2 -1.8
CLRG IQ Chaikin U.S. Large Cap ETF 19.1 25 -5 6.1 -0.9
PBP Invesco S&P 500 BuyWrite ETF 18.9 49 -29 5.1 -1.9
AUSF Global X Adaptive U.S. Factor ETF 18.9 27 -7 8.1 +1.1
PSET Principal Price Setters Index ETF 18.8 29 -9 4.6 -2.4
HSPX Global X S&P 500 Covered Call ETF 18.8 65 -45 5.0 -2.0
JKI iShares Morningstar Mid-Cap Value ETF 18.7 30 -10 9.6 +2.6
PBUS Invesco PureBeta MSCI USA ETF 18.7 4 16 5.4 -1.6
CATH Global X S&P 500 Catholic Values Custom ETF 18.5 29 -9 5.3 -1.7
SCHX Schwab U.S. Large-Cap ETF 18.5 3 17 5.4 -1.6
DIVB iShares U.S. Dividend & Buyback ETF 18.5 25 -5 6.5 -0.5
DTD WisdomTree U.S.Total Dividend Fund 18.4 28 -8 6.6 -0.4
KRMA Global X Conscious Companies ETF 18.4 43 -23 5.3 -1.7
SPXN ProShares S&P 500 Ex-Financials ETF 18.4 27 -7 5.1 -1.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 18.3 2 18 5.4 -1.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 18.2 20 0 5.5 -1.5
VV Vanguard Large-Cap Index Fund 18.2 4 16 5.4 -1.6
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 18.2 29 -9 6.7 -0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 18.2 27 -7 5.2 -1.8
JMIN JPMorgan U.S. Minimum Volatility ETF 18.2 12 8 5.8 -1.2
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 18.2 75 -55 2.2 -4.8

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 Edge MSCI Multifactor USA ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.7 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.53
 
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.