iShares Edge MSCI USA Momentum Factor ETF
ALTAR
Score™		 5.8% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 19.3x P/Sales
ratio		 2.5x
P/BV
ratio		 4.0x Div.
yield		 1.4%


  • 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 18, 2013
Assets (mns) $8,237
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 124
Wgt avg mkt cap (mns) $231,728
Large cap (>$10bn) 96.6%
Mid cap ($2-10bn) 3.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NVIDIA CORP 5.5 %
INTEL CORP 5.2 %
MICROSOFT CORP 5.0 %
APPLE INC 4.7 %
ADOBE SYSTEMS INC 3.9 %
BRISTOL-MYERS SQUIBB CO 3.7 %
NETFLIX INC 3.6 %
NEXTERA ENERGY GROUP 3.1 %
ABBVIE INC 3.0 %
TESLA MOTORS INC 2.6 %
Total 40.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.2 %
IRELAND 2.1 %
BRITAIN 1.2 %
SWITZERLAND 0.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.8% -3.6% 10.1% -- 12.4%

Market Correlations
versus... Beta R-squared
S&P500 0.91 84%
MSCI EAFE 0.84 69%
MSCI Emg. Mkts. 0.61 54%

Technical Indicators
Recent close $108.31
30d moving avg. $112.01
Annualized volatility 15.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 2.5%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 2,058
Turnover 2.7%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $102,534

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares Edge 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™: 5.8%


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
(%)
DYNF BlackRock U.S. Equity Factor Rotation ETF 54.0 30 -15 7.5 +1.7
QYLD Global X NASDAQ 100 Covered Call ETF 35.3 60 -45 4.7 -1.2
NUSI Nationwide Risk-Managed Income ETF 34.6 68 -53 4.6 -1.2
TECB iShares US Tech Breakthrough Multisector ETF 34.5 40 -25 5.1 -0.8
IYW iShares U.S. Technology ETF 34.0 42 -27 5.3 -0.6
QQQ Invesco QQQ Trust 33.8 20 -5 5.1 -0.8
IGM iShares North American Tech ETF 32.2 46 -31 5.1 -0.8
VEGN US Vegan Climate ETF 31.6 60 -45 6.6 +0.8
PWB Invesco Dynamic Large Cap Growth ETF 31.1 55 -40 4.3 -1.6
SCHG Schwab U.S. Large-Cap Growth ETF 30.7 4 11 5.3 -0.5
VUG Vanguard Growth Index Fund 30.3 4 11 5.2 -0.6
ESGU iShares MSCI USA ESG Optimized ETF 30.0 15 0 6.3 +0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 29.9 4 11 5.5 -0.4
IVW iShares S&P 500 Growth ETF 29.9 18 -3 5.3 -0.5
VOOG Vanguard S&P 500 Growth ETF 29.9 10 5 5.4 -0.4
IWF iShares Russell 1000 Growth ETF 29.9 19 -4 5.3 -0.5
CATH Global X S&P 500 Catholic Values Custom ETF 29.8 29 -14 6.6 +0.8
VONG Vanguard Russell 1000 Growth Index Fund 29.8 8 7 5.4 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 29.6 9 6 6.9 +1.1
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 29.6 21 -6 4.1 -1.8
SFY SoFi Select 500 ETF 29.6 0 15 6.3 +0.5
IUSG iShares Core S&P US Growth ETF 29.5 4 11 5.5 -0.3
XNTK SPDR Morgan Stanley Technology ETF 29.5 35 -20 5.0 -0.8
AFLG First Trust Active Factor Large Cap ETF 29.4 55 -40 7.3 +1.4
PBP Invesco S&P 500 BuyWrite ETF 29.3 49 -34 6.3 +0.5
IQSU IQ Candriam ESG US Equity ETF 29.3 9 6 6.3 +0.5
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 29.2 75 -60 4.6 -1.2
SPXN ProShares S&P 500 Ex-Financials ETF 29.2 27 -12 6.3 +0.4
ESG FlexShares STOXX US ESG Impact Index Fund 28.9 32 -17 6.4 +0.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 28.6 19 -4 7.1 +1.3
JHMT John Hancock Multifactor Technology ETF 28.6 40 -25 6.3 +0.5
HSPX Global X S&P 500 Covered Call ETF 28.6 65 -50 6.1 +0.3
PBUS Invesco PureBeta MSCI USA ETF 28.4 4 11 6.7 +0.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 28.4 60 -45 5.6 -0.2
IETC iShares Evolved U.S. Technology ETF 28.3 18 -3 5.0 -0.8
TMFC Motley Fool 100 Index ETF 28.2 50 -35 4.9 -0.9
SCHX Schwab U.S. Large-Cap ETF 28.2 3 12 6.7 +0.8
VV Vanguard Large-Cap Index Fund 28.2 4 11 6.6 +0.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 28.1 2 13 6.7 +0.9
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 28.1 49 -34 5.1 -0.7
SYG SPDR MFS Systematic Growth Equity ETF 28.0 60 -45 6.0 +0.1
SPXE ProShares S&P 500 Ex-Energy ETF 28.0 27 -12 6.6 +0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 27.9 12 3 6.4 +0.5
MGK Vanguard Mega Cap Growth ETF 27.7 7 8 5.3 -0.5
SUSL iShares ESG MSCI USA Leaders ETF 27.7 10 5 6.6 +0.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 27.6 10 5 6.6 +0.7
VONE Vanguard Russell 1000 ETF 27.6 8 7 6.7 +0.8
SPY SPDR S&P 500 ETF Trust 27.6 9 6 6.7 +0.9
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 27.6 20 -5 6.7 +0.9
FDMO Fidelity Momentum Factor ETF 27.6 29 -14 5.2 -0.7
IWB iShares Russell 1000 ETF 27.6 15 0 6.6 +0.8
SPLG SPDR Portfolio Large Cap ETF 27.6 3 12 6.8 +0.9
IVV iShares Core S&P 500 ETF 27.5 4 11 6.7 +0.9
SCHK Schwab 1000 Index ETF 27.5 5 10 6.7 +0.8
ESGV Vanguard ESG U.S. Stock ETF 27.4 12 3 6.6 +0.8
VOO VANGUARD S&P 500 ETF 27.3 3 12 6.7 +0.9
DSI iShares MSCI KLD 400 Social ETF 27.2 25 -10 6.4 +0.6
IYY iShares Dow Jones U.S. ETF 27.2 20 -5 6.6 +0.7
SNPE Xtrackers S&P 500 ESG ETF 27.2 11 4 6.5 +0.7
IWY iShares Russell Top 200 Growth ETF 27.1 20 -5 5.2 -0.6
IWL iShares Russell Top 200 ETF 27.1 15 0 6.3 +0.5
MGC Vanguard Mega Cap Index Fund 26.9 7 8 6.5 +0.6
WOMN Impact Shares YWCA Women's Empowerment ETF 26.9 75 -60 5.9 +0.1
XLK Technology Select Sector SPDR Fund 26.7 13 2 5.9 +0.1
FTEC Fidelity MSCI Information Technology Index ETF 26.6 8 7 5.8 -0.0
VGT Vanguard Information Technology Index Fund 26.6 10 5 5.8 -0.1
DRIV Global X Autonomous & Electric Vehicles ETF 26.5 68 -53 8.0 +2.2
RECS Columbia Research Enhanced Core ETF 26.5 15 0 7.1 +1.2
SPTM SPDR Portfolio Total Stock Market ETF 26.4 3 12 6.9 +1.1
VTHR Vanguard Russell 3000 Index Fund 26.4 10 5 6.6 +0.7
SCHB Schwab U.S. Broad Market ETF 26.4 3 12 6.7 +0.8
FQAL Fidelity Quality Factor ETF 26.3 29 -14 6.7 +0.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 26.3 20 -5 6.3 +0.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 26.2 3 12 6.6 +0.8
IWV iShares Russell 3000 ETF 26.2 20 -5 6.5 +0.6
NULG Nuveen ESG Large-Cap Growth ETF 26.1 35 -20 4.5 -1.4
SPXV ProShares S&P 500 Ex-Health Care ETF 26.1 27 -12 6.4 +0.6
JKE iShares Morningstar Large-Cap Growth ETF 26.1 25 -10 4.4 -1.5
OEF iShares S&P 100 ETF 25.9 20 -5 6.0 +0.2
VTI Vanguard Total Stock Market Index Fund 25.9 3 12 6.6 +0.8
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 25.7 29 -14 5.3 -0.6
JMOM JPMorgan U.S. Momentum Factor ETF 25.6 12 3 4.9 -1.0
ADME Aptus Drawdown Managed Equity ETF 25.6 81 -66 5.1 -0.7
SUSA iShares MSCI USA ESG Select ETF 25.3 25 -10 5.9 +0.1
FEX First Trust Large Cap Core AlphaDEX Fund 25.3 60 -45 7.6 +1.8
QUS SPDR MSCI USA StrategicFactors ETF 24.9 15 0 6.9 +1.1
SYE SPDR MFS Systematic Core Equity ETF 24.9 60 -45 8.0 +2.1
QGRO American Century STOXX U.S. Quality Growth ETF 24.8 29 -14 4.3 -1.6
FCPI Fidelity Stocks for Inflation ETF 24.7 29 -14 8.6 +2.8
JHML John Hancock Multifactor Large Cap ETF 24.7 34 -19 7.0 +1.2
NULC Nuveen ESG Large-Cap ETF 24.7 20 -5 6.5 +0.7
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 24.5 60 -45 5.2 -0.6
EPS WisdomTree U.S. Earnings 500 Fund 24.5 8 7 8.0 +2.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 24.5 35 -20 5.5 -0.4
DGRW WisdomTree U.S. Quality Dividend Growth Fund 24.1 28 -13 7.8 +2.0
FTC First Trust Large Cap Growth AlphaDEX Fund 23.9 61 -46 4.1 -1.8
QLC FlexShares US Quality Large Cap Index Fund 23.8 32 -17 7.0 +1.1
AIQ Global X Future Analytics Tech ETF 23.7 68 -53 5.4 -0.5
NACP Impact Shares NAACP Minority Empowerment ETF 23.6 75 -60 5.8 +0.0
GVIP Goldman Sachs Hedge Industry VIP ETF 23.5 45 -30 6.2 +0.4

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

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 22.5 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.45 CATEGORY
AVERAGE		 1.51
 
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.