iShares MSCI USA Size Factor ETF
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
27.2x P/Sales
ratio
2.1x
P/BV
ratio
3.0x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI USA Risk Weighted 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 with relatively smaller average market capitalization, before fees and expenses.

FUND BASICS
Category US Equities
Fund Sponsor iShares/USA
Website www.ishares.com
Inception date Apr 16, 2013
Assets (mns) $1,115
Currency USD
Expense ratio 15 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 621
Wgt avg mkt cap (mns) $56,361
Large cap (>$10bn) 87.6%
Mid cap ($2-10bn) 11.1%
Small cap (<$2bn) 0.0%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
OCCIDENTAL PETROLEUM CORP 0.3 %
ROKU, INC. CLASS A 0.3 %
ETSY, INC. 0.3 %
SLACK TECHNOLOGIES, INC. CLASS A 0.2 %
ENPHASE ENERGY INC 0.2 %
CROWDSTRIKE HOLDINGS, INC. CLASS A 0.2 %
ZSCALER, INC. 0.2 %
CHEWY, INC. CLASS A 0.2 %
IAC/INTERACTIVECORP. 0.2 %
TESLA MOTORS INC 0.2 %
Total 2.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.3 %
IRELAND 1.9 %
BRITAIN 1.8 %
BERMUDA 0.8 %
SWITZERLAND 0.5 %
ARGENTINA 0.2 %
NETHERLANDS 0.2 %
CANADA 0.1 %



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.
16.2% 16.2% 13.6% -- 12.6%

Market Correlations
versus... Beta R-squared
S&P500 1.09 93%
MSCI EAFE 1.06 86%
MSCI Emg. Mkts. 0.86 73%

Technical Indicators
Recent close $114.90
30d moving avg. $111.67
Annualized volatility 21.3%
Short interest (ETF) 0.4%
Short interest (Underlying) 3.6%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 128
Turnover 1.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $295,928

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the iShares MSCI USA Size Factor ETF ETF based on the alternatives' overlap in portfolio holdings with SIZE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SIZE Expense: 15 bp ALTAR Score™: 5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SIZE
Ticker Fund
Name
Overlap1
vs SIZE
(%)
Expense
ratio
(bp)
Savings
vs SIZE
(bp)
ALTAR
Score™
(%)
ALTAR
vs SIZE
(%)
EUSA iShares MSCI USA Equal Weighted ETF 98.2 15 0 5.1 -0.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 79.4 9 6 5.0 -0.1
RSP Invesco S&P 500 Equal Weight ETF 74.5 20 -5 5.6 +0.5
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 68.9 35 -20 5.0 -0.1
CFA VictoryShares US 500 Volatility Weighted Index ETF 68.8 35 -20 5.0 -0.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 62.8 29 -14 6.0 +0.9
JHML John Hancock Multifactor Large Cap ETF 61.7 29 -14 4.8 -0.3
DYNF BlackRock U.S. Equity Factor Rotation ETF 61.6 30 -15 5.2 +0.1
BKMC BNY Mellon US Mid Cap Core Equity ETF 61.1 4 11 4.8 -0.3
ONEO SPDR Russell 1000 Momentum Focus ETF 58.6 20 -5 5.6 +0.5
IWR iShares Russell Midcap ETF 57.7 19 -4 4.7 -0.4
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 57.2 29 -14 7.2 +2.1
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 56.9 17 -2 5.6 +0.5
FEX First Trust Large Cap Core AlphaDEX Fund 54.6 60 -45 4.6 -0.5
RVRS Reverse Cap Weighted U.S. Large Cap ETF 54.1 29 -14 6.1 +1.0
JHMM John Hancock Multifactor Mid Cap ETF 52.5 42 -27 4.7 -0.4
EQAL Invesco Russell 1000 Equal Weight ETF 51.6 20 -5 5.0 -0.1
RNLC Large Cap US Equity Select ETF 51.1 60 -45 5.2 +0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 50.6 9 6 4.8 -0.3
VO Vanguard Mid-Cap Index Fund 50.1 4 11 4.5 -0.6
PBUS Invesco PureBeta MSCI USA ETF 49.1 4 11 4.6 -0.5
SCHX Schwab U.S. Large-Cap ETF 48.1 3 12 4.5 -0.6
ESGV Vanguard ESG U.S. Stock ETF 47.9 12 3 4.5 -0.6
VONV Vanguard Russell 1000 Value Index Fund 47.3 8 7 6.1 +1.0
IYY iShares Dow Jones U.S. ETF 47.2 20 -5 4.4 -0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 47.1 2 13 4.6 -0.5
DFAU Dimensional US Core Equity Market ETF 46.8 12 3 4.7 -0.4
SCHK Schwab 1000 Index ETF 46.7 5 10 4.6 -0.5
IWB iShares Russell 1000 ETF 46.6 15 0 4.4 -0.7
AVUS Avantis U.S. Equity ETF 46.5 15 0 4.8 -0.3
IWD iShares Russell 1000 Value ETF 46.4 19 -4 6.0 +0.9
VV Vanguard Large-Cap Index Fund 45.9 4 11 4.6 -0.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 45.8 7 8 4.5 -0.6
SCHV Schwab U.S. Large-Cap Value ETF 45.8 4 11 6.0 +0.9
IWS iShares Russell Mid-Cap Value ETF 45.8 24 -9 5.9 +0.8
SPYV SPDR Portfolio S&P 500 Value ETF 45.7 4 11 6.4 +1.3
IVE iShares S&P 500 Value ETF 45.7 18 -3 6.2 +1.1
SCHB Schwab U.S. Broad Market ETF 45.5 3 12 4.4 -0.7
VTHR Vanguard Russell 3000 Index Fund 45.5 10 5 4.4 -0.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 45.4 3 12 4.4 -0.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 45.2 35 -20 5.1 -0.0
IUSV iShares Core S&P U.S. Value ETF 45.1 4 11 6.4 +1.3
IWV iShares Russell 3000 ETF 44.8 20 -5 4.3 -0.8
ESGU iShares MSCI USA ESG Optimized ETF 44.8 15 0 4.4 -0.7
VTI Vanguard Total Stock Market Index Fund 44.6 3 12 4.4 -0.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 44.4 17 -2 6.1 +1.0
VONE Vanguard Russell 1000 ETF 44.3 8 7 4.5 -0.6
PRF Invesco FTSE RAFI US 1000 ETF 44.2 39 -24 5.8 +0.7
TPLC Timothy Plan US Large Cap Core ETF 44.2 52 -37 4.4 -0.7
PBP Invesco S&P 500 BuyWrite ETF 44.2 49 -34 4.3 -0.8
XYLG Global X S&P 500 Covered Call & Growth ETF 44.0 60 -45 4.4 -0.7
SPLG SPDR Portfolio Large Cap ETF 43.7 3 12 4.7 -0.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 43.6 25 -10 5.7 +0.7
VOOV Vanguard S&P 500 Value ETF 43.5 10 5 6.6 +1.5
SPY SPDR S&P 500 ETF Trust 43.5 9 6 4.7 -0.4
JPUS JPMorgan Diversified Return U.S. Equity ETF 43.4 18 -3 5.6 +0.5
IVV iShares Core S&P 500 ETF 43.4 3 12 4.7 -0.4
QUS SPDR MSCI USA StrategicFactors ETF 43.3 15 0 5.2 +0.2
SFY SoFi Select 500 ETF 43.2 0 15 4.5 -0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 43.2 20 -5 4.8 -0.3
VLU SPDR S&P 1500 Value Tilt ETF 43.1 12 3 6.1 +1.0
VOO VANGUARD S&P 500 ETF 43.1 3 12 4.8 -0.3
CATH Global X S&P 500 Catholic Values Custom ETF 42.5 29 -14 4.5 -0.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 42.5 25 -10 5.7 +0.6
SPTM SPDR Portfolio Total Stock Market ETF 42.4 3 12 4.8 -0.3
TUSA First Trust Total US Market AlphaDEX ETF 42.3 70 -55 4.8 -0.3
SPXT ProShares S&P 500 Ex-Technology ETF 42.1 27 -12 4.8 -0.3
RWL Invesco S&P 500 Revenue ETF 41.8 39 -24 6.2 +1.2
SPXE ProShares S&P 500 Ex-Energy ETF 41.7 27 -12 4.6 -0.5
XVV iShares ESG Screened S&P 500 ETF 40.9 8 7 4.9 -0.2
IUS Invesco Strategic US ETF 40.3 19 -4 5.4 +0.4
EPS WisdomTree U.S. Earnings 500 Fund 40.3 8 7 5.9 +0.8
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 40.2 30 -15 5.0 -0.1
TOK iShares MSCI Kokusai ETF 40.1 25 -10 4.9 -0.2
KOKU Xtrackers MSCI Kokusai Equity ETF 40.0 9 6 5.0 -0.1
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 39.8 25 -10 4.9 -0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 39.1 27 -12 4.3 -0.8
MXDU Nationwide Maximum Diversification US Core Equity ETF 38.8 34 -19 4.3 -0.8
USXF iShares ESG Advanced MSCI USA ETF 38.6 10 5 4.5 -0.6
IQSU IQ Candriam ESG US Equity ETF 38.4 9 6 4.5 -0.6
URTH iShares MSCI World ETF 38.2 24 -9 4.9 -0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 38.2 20 -5 4.6 -0.5
VTV Vanguard Value Index Fund 38.0 4 11 6.5 +1.4
SPXN ProShares S&P 500 Ex-Financials ETF 37.5 27 -12 4.3 -0.8
RBUS Nationwide Risk-Based U.S. Equity ETF 37.4 30 -15 4.6 -0.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 37.4 20 -5 6.1 +1.1
DIVB iShares U.S. Dividend & Buyback ETF 36.5 25 -10 5.9 +0.8
ROUS Hartford Multifactor US Equity ETF 36.0 19 -4 5.8 +0.8
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 35.7 24 -9 5.4 +0.3
AFLG First Trust Active Factor Large Cap ETF 34.8 55 -40 4.7 -0.4
ACWI iShares MSCI ACWI ETF 34.5 32 -17 5.0 -0.1
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 34.4 60 -45 4.6 -0.5
RESP WisdomTree US ESG Fund of Benef Interest 34.3 28 -13 5.0 -0.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 33.8 20 -5 5.3 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 33.8 12 3 4.0 -1.1
DSI iShares MSCI KLD 400 Social ETF 33.7 25 -10 4.5 -0.6
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 33.6 20 -5 6.6 +1.5

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

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.3 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.