iShares Edge MSCI Multifactor USA Small-Cap ETF
ALTAR
Score™
7.4% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
21.7x P/Sales
ratio
0.9x
P/BV
ratio
1.7x Div.
yield
2.0%


  • 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 30, 2015
Assets (mns) $415
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 452
Wgt avg mkt cap (mns) $3,153
Large cap (>$10bn) 2.2%
Mid cap ($2-10bn) 55.9%
Small cap (<$2bn) 42.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MASIMO CORPORATION 2.2 %
CHEMED CORP 1.4 %
ASPEN TECHNOLOGY INC 1.3 %
RELIANCE STEEL & ALUMINUM 1.1 %
ENCOMPASS HEALTH CORPORATION 1.1 %
AMEDISYS INC 1.1 %
CACI INTERNATIONAL INC -CL A 1.1 %
QUIDEL CORP 1.1 %
MANHATTAN ASSOCIATES INC 1.0 %
FIRST AMERICAN FINANCIAL 1.0 %
Total 12.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.1 %
BRITAIN 1.5 %
PUERTO RICO 1.4 %
BERMUDA 1.1 %
CAYMAN ISLANDS 0.5 %
CANADA 0.1 %





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.
-17.8% -5.8% 4.2% -- 4.9%

Market Correlations
versus... Beta R-squared
S&P500 1.21 88%
MSCI EAFE 1.21 76%
MSCI Emg. Mkts. 0.87 60%

Technical Indicators
Recent close $36.74
30d moving avg. $33.49
Annualized volatility 21.9%
Short interest (ETF) 0.3%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 95
Turnover 0.8%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $8,272

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.4%


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
(%)
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 52.2 39 -9 6.1 -1.3
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 36.4 35 -5 6.1 -1.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 34.9 24 6 7.5 +0.0
SLY SPDR S&P 600 Small Cap ETF 32.7 15 15 6.7 -0.7
IJR iShares Core S&P Small Cap ETF 32.7 7 23 6.7 -0.7
SPSM SPDR Portfolio Small Cap ETF 32.6 5 25 6.8 -0.6
VIOO Vanguard S&P Small-Cap 600 ETF 31.9 10 20 6.7 -0.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 31.5 20 10 5.9 -1.5
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 30.5 29 1 5.8 -1.7
AFSM First Trust Active Factor Small Cap ETF 29.5 75 -45 5.6 -1.8
TPSC Timothy Plan US Small Cap Core ETF 26.3 52 -22 7.5 +0.0
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 26.0 35 -5 8.0 +0.6
ROGS Hartford Multifactor Global Small Cap ETF 25.7 34 -4 7.8 +0.4
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 25.4 40 -10 5.9 -1.5
EES WisdomTree SmallCap Earnings Fund 25.0 38 -8 10.7 +3.3
IWN iShares Russell 2000 Value ETF 25.0 24 6 6.9 -0.5
VTWV Vanguard Russell 2000 Value Index Fund 24.5 15 15 7.0 -0.5
FSMD Fidelity Small-Mid Factor ETF 24.3 29 1 6.8 -0.6
IUSS Invesco Strategic US Small Company ETF 24.0 23 7 5.8 -1.7
CSML IQ Chaikin U.S. Small Cap ETF 23.6 35 -5 4.5 -3.0
IWM iShares Russell 2000 ETF 23.5 19 11 3.5 -3.9
SLYG SPDR S&P 600 Small Cap Growth ETF 23.4 15 15 5.1 -2.3
IJT iShares S&P Small-Cap 600 Growth ETF 23.3 25 5 5.0 -2.4
VIOG Vanguard S&P Small-Cap 600 Growth ETF 23.1 16 14 5.1 -2.3
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 23.0 35 -5 8.1 +0.7
VTWO Vanguard Russell 2000 Index Fund 22.6 10 20 3.6 -3.8
FNDA Schwab Fundamental U.S. Small Co. Index ETF 22.3 25 5 6.2 -1.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 22.3 39 -9 4.2 -3.2
IWO iShares Russell 2000 Growth ETF 22.0 24 6 0.7 -6.7
PSC Principal U.S. Small Cap Index ETF 21.8 38 -8 6.8 -0.6
FYX First Trust Small Cap Core AlphaDEX Fund 21.7 63 -33 6.2 -1.3
SLYV SPDR S&P 600 Small Cap Value ETF 21.7 15 15 8.6 +1.2
IJS iShares S&P Small-cap 600 Value ETF 21.7 25 5 8.5 +1.1
AFMC First Trust Active Factor Mid Cap ETF 21.7 65 -35 6.0 -1.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 21.6 29 1 1.8 -5.6
NUSC Nuveen ESG Small-Cap ETF 21.5 40 -10 4.9 -2.6
VIOV Vanguard S&P Small-Cap 600 Value ETF 21.4 15 15 8.5 +1.1
AVUV Avantis U.S. Small Cap Value ETF 21.3 25 5 8.4 +1.0
VTWG Vanguard Russell 2000 Growth Index Fund 21.2 15 15 0.8 -6.6
JKL iShares Morningstar Small Cap Value ETF 21.2 30 0 9.2 +1.8
DES WisdomTree U.S. SmallCap Dividend Fund 21.0 38 -8 8.2 +0.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 20.3 20 10 6.0 -1.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 20.2 17 13 4.8 -2.7
RWJ Invesco S&P SmallCap 600 Revenue ETF 20.1 39 -9 6.5 -0.9
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 19.9 29 1 9.6 +2.1
SCHA Schwab U.S. Small-Cap ETF 19.8 4 26 4.7 -2.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 19.1 6 24 5.0 -2.4
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 19.0 48 -18 6.2 -1.3
VUSE Vident Core US Equity Fund 18.3 48 -18 7.5 +0.1
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 17.9 12 18 7.7 +0.3
VBR Vanguard Small Cap Value Index Fund 17.9 7 23 8.1 +0.6
JHSC John Hancock Multifactor Small Cap ETF 17.6 50 -20 5.7 -1.8
RNSC Small Cap US Equity Select ETF 17.4 60 -30 7.2 -0.3
SQLV Legg Mason Small-Cap Quality Value 17.4 62 -32 6.7 -0.8
VFMF Vanguard U.S. Multifactor ETF 17.2 18 12 7.2 -0.3
ISMD Inspire Small/Mid Cap Impact ETF 16.7 61 -31 6.6 -0.8
JKJ iShares Morningstar Small-Cap ETF 16.6 25 5 6.3 -1.2
SMDY Syntax Stratified MidCap ETF 16.4 30 0 6.1 -1.4
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 16.3 38 -8 8.6 +1.2
FNY First Trust Mid Cap Growth AlphaDEX Fund 15.6 70 -40 2.1 -5.3
EZM WisdomTree U.S. MidCap Earnings Fund 15.4 38 -8 8.8 +1.4
FNX First Trust Mid Cap Core AlphaDEX Fund 15.2 61 -31 6.4 -1.0
EWMC Invesco S&P MidCap 400 Equal Weight ETF 14.9 40 -10 6.5 -0.9
VFQY Vanguard U.S. Quality Factor ETF 14.7 13 17 5.9 -1.5
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 14.6 20 10 9.1 +1.7
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 14.5 80 -50 5.4 -2.0
JKK iShares Morningstar Small-Cap Growth ETF 14.4 30 0 1.4 -6.1
DWAS Invesco DWA SmallCap Momentum ETF 14.2 60 -30 -1.1 -8.5
VB Vanguard Small-Cap ETF 14.2 5 25 5.4 -2.1
XMMO Invesco S&P MidCap Momentum ETF 14.1 39 -9 4.3 -3.1
MDYG SPDR S&P 400 Mid Cap Growth ETF 13.9 15 15 4.8 -2.7
BUY USCF SummerHaven SHPEI Index Fund 13.9 80 -50 10.0 +2.6
FYT First Trust Small Cap Value AlphaDEX Fund 13.9 72 -42 8.4 +1.0
IJK iShares S&P Mid-Cap 400 Growth ETF 13.9 24 6 4.7 -2.8
FYC First Trust Small Cap Growth AlphaDEX Fund 13.8 70 -40 2.5 -4.9
RNMC Mid Cap US Equity Select ETF 13.8 60 -30 7.5 +0.1
MDY SPDR S&P Midcap 400 ETF Trust 13.6 23 7 6.1 -1.4
IJH iShares Core S&P Mid-Cap ETF 13.6 6 24 6.2 -1.2
SPMD SPDR Portfolio Mid Cap ETF 13.6 5 25 6.2 -1.2
RWK Invesco S&P MidCap 400 Revenue ETF 13.4 39 -9 7.2 -0.2
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 13.4 15 15 4.6 -2.8
IVOO Vanguard S&P Mid-Cap 400 ETF 13.2 10 20 6.1 -1.3
MDYV SPDR S&P 400 Mid Cap Value ETF 13.2 15 15 8.0 +0.6
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 13.2 35 -5 5.2 -2.2
IJJ iShares S&P Mid-Cap 400 Value ETF 13.1 25 5 7.9 +0.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 13.1 15 15 8.1 +0.6
RFG Invesco S&P Midcap 400 Pure Growth ETF 12.8 35 -5 3.7 -3.8
RZG Invesco S&P Smallcap 600 Pure Growth ETF 12.4 35 -5 6.0 -1.4
XSHQ Invesco S&P SmallCap Quality ETF 12.2 29 1 5.8 -1.6
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 12.0 7 23 5.4 -2.0
VXF Vanguard Extended Market Index Fund 12.0 7 23 3.8 -3.7
VFVA Vanguard U.S. Value Factor ETF 12.0 13 17 11.2 +3.7
EQWM Invesco S&P MidCap Quality ETF 11.8 25 5 5.0 -2.4
VFLQ Vanguard U.S. Liquidity Factor ETF 11.8 13 17 3.4 -4.0
IWC iShares Micro-Cap ETF 11.8 60 -30 -4.0 -11.4
VFMO Vanguard U.S. Momentum Factor ETF 11.4 13 17 2.1 -5.3
BFOR Barron's 400 ETF 11.1 66 -36 6.2 -1.3
XSLV Invesco S&P SmallCap Low Volatility ETF 11.1 25 5 5.7 -1.7
VBK Vanguard Small-Cap Growth Index Fund 10.8 7 23 2.5 -4.9

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 12.4 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 7.4 %
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.