iShares Edge MSCI Multifactor USA Small-Cap ETF
ALTAR
Score™
7.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
18.0x P/Sales
ratio
1.1x
P/BV
ratio
1.8x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares FactorSelect MSCI USA Small-Cap ETF tracks an index of small-cap US 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 Small Cap Index.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Apr 28, 2015
Assets (mns) $570
Currency USD
Expense ratio 30 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 435
Wgt avg mkt cap (mns) $3,366
Large cap (>$10bn) 4.4%
Mid cap ($2-10bn) 56.1%
Small cap (<$2bn) 38.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HORIZON PHARMA PLC 1.8 %
BOSTON BEER COMPANY INC-CL A 1.4 %
QUIDEL CORP 1.4 %
AMEDISYS INC 1.2 %
CHEMED CORP 1.1 %
RELIANCE STEEL & ALUMINUM 1.1 %
DECKERS OUTDOOR CORP 1.0 %
ENCOMPASS HEALTH CORPORATION 1.0 %
TANDEM DIABETES CARE INC 1.0 %
LHC GROUP INC 1.0 %
Total 12.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.2 %
IRELAND 1.8 %
PUERTO RICO 1.2 %
BERMUDA 0.9 %
BRITAIN 0.6 %
CAYMAN ISLANDS 0.4 %
CANADA 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.3% -5.2% 7.0% -- 5.8%

Market Correlations
versus... Beta R-squared
S&P500 1.15 88%
MSCI EAFE 1.18 76%
MSCI Emg. Mkts. 0.86 63%

Technical Indicators
Recent close $40.16
30d moving avg. $38.49
Annualized volatility 21.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 44
Turnover 0.3%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $7,524

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the iShares Edge MSCI Multifactor USA Small-Cap ETF ETF based on the alternatives' overlap in portfolio holdings with SMLF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SMLF Expense: 30 bp ALTAR Score™: 7.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SMLF
Ticker Fund
Name
Overlap1
vs SMLF
(%)
Expense
ratio
(bp)
Savings
vs SMLF
(bp)
ALTAR
Score™
(%)
ALTAR
vs SMLF
(%)
VIOO Vanguard S&P Small-Cap 600 ETF 36.8 10 20 6.7 -0.6
SPSM SPDR Portfolio Small Cap ETF 36.1 5 25 6.8 -0.5
SLY SPDR S&P 600 Small Cap ETF 36.1 15 15 6.7 -0.6
IJR iShares Core S&P Small Cap ETF 36.0 6 24 6.8 -0.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 34.7 24 6 6.3 -1.0
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 33.7 35 -5 5.7 -1.5
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 31.9 29 1 4.8 -2.4
AFSM First Trust Active Factor Small Cap ETF 31.7 75 -45 5.3 -2.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 30.7 20 10 4.7 -2.6
STSB iShares Factors US Small Blend Style ETF 29.7 35 -5 3.5 -3.8
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 29.5 35 -5 7.5 +0.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 28.2 40 -10 6.9 -0.3
AVUV Avantis U.S. Small Cap Value ETF 27.6 25 5 7.6 +0.4
TPSC Timothy Plan US Small Cap Core ETF 27.4 52 -22 7.7 +0.4
EES WisdomTree SmallCap Earnings Fund 27.3 38 -8 9.7 +2.5
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 26.6 35 -5 7.7 +0.4
CSML IQ Chaikin U.S. Small Cap ETF 26.4 35 -5 3.7 -3.6
FSMD Fidelity Small-Mid Factor ETF 26.3 29 1 6.0 -1.2
ROGS Hartford Multifactor Global Small Cap ETF 26.3 34 -4 7.9 +0.6
FYX First Trust Small Cap Core AlphaDEX Fund 25.7 63 -33 5.9 -1.4
SSLY Syntax Stratified SmallCap ETF 25.4 30 0 6.2 -1.0
VIOG Vanguard S&P Small-Cap 600 Growth ETF 25.2 16 14 5.2 -2.1
AFMC First Trust Active Factor Mid Cap ETF 25.1 65 -35 6.1 -1.2
IJT iShares S&P Small-Cap 600 Growth ETF 25.1 25 5 5.3 -2.0
SLYG SPDR S&P 600 Small Cap Growth ETF 25.1 15 15 5.2 -2.1
IJK iShares S&P Mid-Cap 400 Growth ETF 25.0 24 6 4.7 -2.5
PSC Principal U.S. Small Cap Index ETF 24.8 38 -8 6.5 -0.8
SLYV SPDR S&P 600 Small Cap Value ETF 24.7 15 15 8.4 +1.1
IWN iShares Russell 2000 Value ETF 24.6 24 6 6.5 -0.8
VIOV Vanguard S&P Small-Cap 600 Value ETF 24.5 15 15 8.5 +1.2
IJS iShares S&P Small-cap 600 Value ETF 24.4 25 5 8.5 +1.2
IUSS Invesco Strategic US Small Company ETF 23.7 23 7 5.0 -2.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 22.6 39 -9 6.7 -0.6
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 22.6 29 1 0.2 -7.1
IWM iShares Russell 2000 ETF 22.5 19 11 3.2 -4.1
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 22.4 39 -9 4.4 -2.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 22.2 25 5 7.0 -0.3
VTWO Vanguard Russell 2000 Index Fund 22.1 10 20 3.4 -3.8
DES WisdomTree U.S. SmallCap Dividend Fund 21.3 38 -8 8.1 +0.8
SCHA Schwab U.S. Small-Cap ETF 21.1 4 26 4.6 -2.7
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 20.9 29 1 5.5 -1.8
NUSC Nuveen ESG Small-Cap ETF 20.2 40 -10 4.6 -2.7
IWO iShares Russell 2000 Growth ETF 20.2 24 6 -0.1 -7.4
VFMF Vanguard U.S. Multifactor ETF 20.1 19 11 7.1 -0.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 20.1 17 13 4.6 -2.7
VUSE Vident Core US Equity Fund 20.0 48 -18 8.6 +1.3
SQLV Legg Mason Small-Cap Quality Value 19.9 62 -32 6.1 -1.2
JKL iShares Morningstar Small Cap Value ETF 19.8 30 0 9.5 +2.2
PBSM Invesco PureBeta MSCI USA Small Cap ETF 19.7 6 24 4.9 -2.3
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 19.4 20 10 4.5 -2.7
RNSC Small Cap US Equity Select ETF 18.4 60 -30 6.7 -0.6
ISMD Inspire Small/Mid Cap Impact ETF 18.4 60 -30 4.7 -2.6
FYT First Trust Small Cap Value AlphaDEX Fund 18.2 72 -42 9.1 +1.8
SMDY Syntax Stratified MidCap ETF 17.9 30 0 6.5 -0.8
VTWV Vanguard Russell 2000 Value Index Fund 17.9 15 15 6.6 -0.6
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 17.5 12 18 7.3 -0.0
VTWG Vanguard Russell 2000 Growth Index Fund 17.5 15 15 0.1 -7.2
VFQY Vanguard U.S. Quality Factor ETF 17.2 13 17 6.2 -1.1
JHSC John Hancock Multifactor Small Cap ETF 17.0 42 -12 5.3 -1.9
IJJ iShares S&P Mid-Cap 400 Value ETF 16.8 25 5 7.9 +0.6
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 16.6 20 10 8.8 +1.6
BKSE BNY Mellon US Small Cap Core Equity ETF 16.2 4 26 5.5 -1.8
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 16.1 38 -8 8.2 +0.9
FNX First Trust Mid Cap Core AlphaDEX Fund 15.9 61 -31 6.2 -1.1
EZM WisdomTree U.S. MidCap Earnings Fund 15.9 38 -8 8.4 +1.1
VBR Vanguard Small Cap Value Index Fund 15.6 7 23 7.7 +0.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 15.2 40 -10 7.0 -0.3
FNK First Trust Mid Cap Value AlphaDEX Fund 15.1 70 -40 10.3 +3.0
MDYG SPDR S&P 400 Mid Cap Growth ETF 15.0 15 15 4.8 -2.4
BUY USCF SummerHaven SHPEI Index Fund 14.8 80 -50 8.6 +1.3
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 14.7 80 -50 5.5 -1.8
JKK iShares Morningstar Small-Cap Growth ETF 14.5 30 0 1.0 -6.3
RFG Invesco S&P Midcap 400 Pure Growth ETF 14.1 35 -5 3.8 -3.5
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 14.0 15 15 4.7 -2.5
MDY SPDR S&P Midcap 400 ETF Trust 13.9 23 7 6.1 -1.2
SPMD SPDR Portfolio Mid Cap ETF 13.9 5 25 6.3 -1.0
IJH iShares Core S&P Mid-Cap ETF 13.9 5 25 6.3 -1.0
PXSG Invesco S&P SmallCap Momentum ETF 13.7 39 -9 3.7 -3.6
JKJ iShares Morningstar Small-Cap ETF 13.7 25 5 6.1 -1.2
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 13.6 30 0 5.4 -1.9
FYC First Trust Small Cap Growth AlphaDEX Fund 13.4 70 -40 1.8 -5.5
FAB First Trust Multi Cap Value AlphaDEX Fund 13.3 71 -41 9.2 +1.9
XMMO Invesco S&P MidCap Momentum ETF 13.2 34 -4 3.8 -3.5
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 13.2 48 -18 6.1 -1.2
VB Vanguard Small-Cap ETF 13.2 5 25 5.1 -2.2
IVOO Vanguard S&P Mid-Cap 400 ETF 13.2 10 20 6.1 -1.2
VFVA Vanguard U.S. Value Factor ETF 13.1 14 16 10.5 +3.3
RNMC Mid Cap US Equity Select ETF 13.0 60 -30 7.2 -0.0
BFOR Barron's 400 ETF 12.9 65 -35 6.3 -1.0
VAMO Cambria Value & Momentum ETF 12.9 63 -33 5.9 -1.3
MDYV SPDR S&P 400 Mid Cap Value ETF 12.5 15 15 8.1 +0.8
FNY First Trust Mid Cap Growth AlphaDEX Fund 12.4 70 -40 2.0 -5.3
RWK Invesco S&P MidCap 400 Revenue ETF 12.1 39 -9 7.7 +0.4
EQWM Invesco S&P MidCap Quality ETF 12.0 25 5 6.1 -1.2
VFLQ Vanguard U.S. Liquidity Factor ETF 11.9 14 16 4.0 -3.2
XSLV Invesco S&P SmallCap Low Volatility ETF 11.4 25 5 5.4 -1.9
XSHQ Invesco S&P SmallCap Quality ETF 11.4 29 1 6.5 -0.8
RZG Invesco S&P Smallcap 600 Pure Growth ETF 11.3 35 -5 5.6 -1.6
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.2 15 15 8.0 +0.7
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 11.0 7 23 5.0 -2.3

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 Small-Cap 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 12.7 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 7.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.