iShares MSCI USA Momentum Factor ETF
ALTAR
Score™		 2.2% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 51.3x P/Sales
ratio		 5.9x
P/BV
ratio		 11.0x Div.
yield		 0.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI USA Momentum Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of an index that measures the performance of U.S. large- and mid-capitalization stocks exhibiting relatively higher momentum characteristics, before fees and expenses.

FUND BASICS
Category US Equities
Fund Sponsor iShares/USA
Website www.ishares.com
Inception date Apr 16, 2013
Assets (mns) $15,126
Currency USD
Expense ratio 15 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Momentum
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 125
Wgt avg mkt cap (mns) $478,293
Large cap (>$10bn) 97.8%
Mid cap ($2-10bn) 1.1%
Small cap (<$2bn) 0.0%
Developed mkts 98.7%
Emerging mkts 1.3%

TOP TEN HOLDINGS
TESLA MOTORS INC 7.6 %
APPLE INC 5.1 %
MICROSOFT CORP 4.7 %
AMAZON.COM INC 4.6 %
NVIDIA CORP 4.4 %
PAYPAL HOLDINGS INC 4.0 %
THERMO FISHER SCIENTIFIC INC 3.0 %
ADOBE SYSTEMS INC 2.7 %
DANAHER CORP 2.4 %
ALPHABET INC. CLASS C 2.4 %
Total 40.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.4 %
ARGENTINA 1.5 %
IRELAND 0.8 %
NETHERLANDS 0.5 %
BRITAIN 0.4 %
BERMUDA 0.3 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
29.8% 29.8% 18.6% -- 17.4%

Market Correlations
versus... Beta R-squared
S&P500 0.94 90%
MSCI EAFE 0.86 74%
MSCI Emg. Mkts. 0.67 57%

Technical Indicators
Recent close $170.63
30d moving avg. $162.76
Annualized volatility 18.7%
Short interest (ETF) 0.0%
Short interest (Underlying) 2.5%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 1,084
Turnover 1.2%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $142,372

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: MTUM Expense: 15 bp ALTAR Score™: 2.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MTUM
Ticker Fund
Name		 Overlap1
vs MTUM
(%)		 Expense
ratio
(bp)		 Savings
vs MTUM
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs MTUM
(%)
FDMO Fidelity Momentum Factor ETF 51.5 29 -14 2.4 +0.2
SPMO Invesco S&P 500 Momentum ETF 50.5 13 2 3.8 +1.5
PWB Invesco Dynamic Large Cap Growth ETF 49.9 56 -41 2.1 -0.1
JKE iShares Morningstar Large-Cap Growth ETF 48.5 25 -10 2.2 -0.1
SCHG Schwab U.S. Large-Cap Growth ETF 47.8 4 11 3.2 +0.9
VOOG Vanguard S&P 500 Growth ETF 47.7 10 5 3.9 +1.6
QYLD Global X NASDAQ 100 Covered Call ETF 47.3 60 -45 3.2 +0.9
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 46.8 60 -45 3.1 +0.9
NUSI Nationwide Risk-Managed Income ETF 46.8 68 -53 3.1 +0.9
ESGV Vanguard ESG U.S. Stock ETF 46.6 12 3 4.5 +2.2
JMOM JPMorgan U.S. Momentum Factor ETF 46.5 12 3 3.0 +0.7
QQQ Invesco QQQ Trust 46.2 20 -5 3.5 +1.2
QQQM Invesco NASDAQ 100 ETF 46.1 15 0 3.5 +1.3
SPYG SPDR Portfolio S&P 500 Growth ETF 46.1 4 11 3.7 +1.4
IVW iShares S&P 500 Growth ETF 46.0 18 -3 3.5 +1.3
VUG Vanguard Growth Index Fund 45.5 4 11 3.5 +1.3
IWF iShares Russell 1000 Growth ETF 45.0 19 -4 3.4 +1.2
IUSG iShares Core S&P US Growth ETF 45.0 4 11 3.7 +1.4
VONG Vanguard Russell 1000 Growth Index Fund 43.8 8 7 3.5 +1.3
VEGN US Vegan Climate ETF 43.7 60 -45 3.9 +1.7
MGK Vanguard Mega Cap Growth ETF 43.4 7 8 3.7 +1.4
HIPR Direxion High Growth ETF 43.0 40 -25 3.8 +1.6
IGM iShares Expanded Tech Sector ETF 42.7 46 -31 3.3 +1.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 42.0 12 3 4.0 +1.8
TMFC Motley Fool 100 Index ETF 41.9 50 -35 3.0 +0.8
IETC iShares Evolved U.S. Technology ETF 41.8 18 -3 3.4 +1.2
TECB iShares US Tech Breakthrough Multisector ETF 41.8 40 -25 3.5 +1.2
IWY iShares Russell Top 200 Growth ETF 41.5 20 -5 3.6 +1.3
SYG SPDR MFS Systematic Growth Equity ETF 41.5 60 -45 3.4 +1.2
NULG Nuveen ESG Large-Cap Growth ETF 39.7 35 -20 2.9 +0.7
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 39.6 21 -6 2.9 +0.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 38.7 60 -45 3.6 +1.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 38.5 9 6 4.8 +2.6
SFY SoFi Select 500 ETF 38.0 0 15 4.6 +2.3
SFYF SoFi 50 ETF 37.9 29 -14 0.8 -1.4
IYW iShares U.S. Technology ETF 37.5 43 -28 3.4 +1.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 37.4 30 -15 5.2 +3.0
ECOZ TrueMark ESG Active Opportunities ETF 37.3 58 -43 3.0 +0.7
BKLC BNY Mellon US Large Cap Core Equity ETF 37.3 0 15 4.5 +2.2
SPXN ProShares S&P 500 Ex-Financials ETF 36.8 27 -12 4.4 +2.1
ESGU iShares MSCI USA ESG Optimized ETF 36.7 15 0 4.4 +2.2
PBUS Invesco PureBeta MSCI USA ETF 36.5 4 11 4.6 +2.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 36.0 49 -34 3.4 +1.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 35.9 7 8 4.5 +2.3
MGC Vanguard Mega Cap Index Fund 35.8 7 8 4.6 +2.3
OEF iShares S&P 100 ETF 35.8 20 -5 4.2 +2.0
VV Vanguard Large-Cap Index Fund 35.6 4 11 4.6 +2.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 35.6 2 13 4.6 +2.4
SCHX Schwab U.S. Large-Cap ETF 35.5 3 12 4.6 +2.3
IWL iShares Russell Top 200 ETF 35.3 15 0 4.4 +2.2
IQSU IQ Candriam ESG US Equity ETF 35.2 9 6 4.5 +2.3
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 35.1 75 -60 2.9 +0.6
PBP Invesco S&P 500 BuyWrite ETF 35.0 49 -34 4.3 +2.1
SPXV ProShares S&P 500 Ex-Health Care ETF 34.9 27 -12 4.3 +2.0
AFLG First Trust Active Factor Large Cap ETF 34.9 55 -40 4.7 +2.4
USXF iShares ESG Advanced MSCI USA ETF 34.8 10 5 4.5 +2.3
SPXE ProShares S&P 500 Ex-Energy ETF 34.7 27 -12 4.6 +2.4
IYY iShares Dow Jones U.S. ETF 34.6 20 -5 4.4 +2.2
XYLG Global X S&P 500 Covered Call & Growth ETF 34.4 60 -45 4.4 +2.2
SCHK Schwab 1000 Index ETF 34.4 5 10 4.6 +2.3
IWB iShares Russell 1000 ETF 34.4 15 0 4.5 +2.2
SPY SPDR S&P 500 ETF Trust 34.2 9 6 4.7 +2.4
SPLG SPDR Portfolio Large Cap ETF 34.2 3 12 4.7 +2.5
IVV iShares Core S&P 500 ETF 34.2 3 12 4.7 +2.5
MMLG First Trust Multi-Manager Large Growth ETF 34.1 85 -70 1.8 -0.5
XVV iShares ESG Screened S&P 500 ETF 33.9 8 7 4.9 +2.6
CATH Global X S&P 500 Catholic Values Custom ETF 33.9 29 -14 4.6 +2.3
RPG Invesco S&P 500 Pure Growth ETF 33.8 35 -20 2.7 +0.5
VOO VANGUARD S&P 500 ETF 33.7 3 12 4.8 +2.6
FTC First Trust Large Cap Growth AlphaDEX Fund 33.6 61 -46 2.2 -0.0
VTHR Vanguard Russell 3000 Index Fund 33.5 10 5 4.4 +2.1
JCTR JPMorgan Carbon Transition U.S. Equity ETF 33.5 15 0 4.7 +2.4
VFMO Vanguard U.S. Momentum Factor ETF 33.2 13 2 1.4 -0.9
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 33.2 20 -5 4.6 +2.3
ESG FlexShares STOXX US ESG Impact Index Fund 33.1 32 -17 4.5 +2.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 33.0 20 -5 4.8 +2.5
SCHB Schwab U.S. Broad Market ETF 32.9 3 12 4.5 +2.2
SNPE Xtrackers S&P 500 ESG ETF 32.8 10 5 4.6 +2.3
EFIV SPDR S&P 500 ESG ETF 32.8 10 5 4.6 +2.3
ITOT iShares Core S&P Total U.S. Stock Market ETF 32.7 3 12 4.4 +2.2
SUSA iShares MSCI USA ESG Select ETF 32.6 25 -10 4.2 +2.0
IWV iShares Russell 3000 ETF 32.5 20 -5 4.3 +2.0
FTEC Fidelity MSCI Information Technology Index ETF 32.3 8 7 3.9 +1.7
XNTK SPDR NYSE Technology ETF 32.3 35 -20 2.7 +0.5
SPTM SPDR Portfolio Total Stock Market ETF 32.3 3 12 4.8 +2.6
RESP WisdomTree US ESG Fund of Benef Interest 32.1 28 -13 5.1 +2.8
VGT Vanguard Information Technology Index Fund 32.1 10 5 3.9 +1.7
VTI Vanguard Total Stock Market Index Fund 31.9 3 12 4.4 +2.2
VONE Vanguard Russell 1000 ETF 31.9 8 7 4.6 +2.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 31.7 75 -60 2.0 -0.2
WOMN Impact Shares YWCA Women's Empowerment ETF 31.4 75 -60 3.5 +1.2
HLAL Wahed FTSE USA Shariah ETF 31.1 50 -35 3.8 +1.6
LRGE ClearBridge Large Cap Growth ESG ETF 31.0 59 -44 3.3 +1.0
XLG Invesco S&P 500 Top 50 ETF 30.9 20 -5 4.1 +1.8
JHMT John Hancock Multifactor Technology ETF 30.6 40 -25 4.0 +1.7
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 30.3 12 3 4.9 +2.7
ADME Aptus Drawdown Managed Equity ETF 30.2 79 -64 3.1 +0.9
PDP Invesco DWA Momentum ETF 29.6 62 -47 1.8 -0.4
DFAU Dimensional US Core Equity Market ETF 29.4 12 3 4.7 +2.4

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 MSCI USA Momentum Factor ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 21.5 %
Divided by: Fwd. P/BV 9.0 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 2.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.40 CATEGORY
AVERAGE		 1.49
 
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.