iShares Edge MSCI Min Vol USA Small-Cap ETF
ALTAR
Score™		 3.7% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 27.0x P/Sales
ratio		 1.9x
P/BV
ratio		 2.8x Div.
yield		 1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares Edge MSCI Min Vol USA Small-Cap ETF tracks an index of US-listed small capitalization stocks selected and weighted to create a low volatility portfolio, subject to constraints including sector exposure.

FUND BASICS
Category US Equities
Fund Sponsor BlackRock
Website www.ishares.com
Inception date Sep 07, 2016
Assets (mns) $899
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 328
Wgt avg mkt cap (mns) $4,226
Large cap (>$10bn) 4.1%
Mid cap ($2-10bn) 71.9%
Small cap (<$2bn) 23.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APTARGROUP INC 1.5 %
ZYNGA INC - CL A 1.5 %
LIFE STORAGE, INC. 1.4 %
CUBESMART 1.3 %
LANDSTAR SYSTEM INC 1.2 %
AMERICAN HOMES 4 RENT- A 1.2 %
ROYAL GOLD INC 1.1 %
FLOWERS FOODS INC 1.1 %
IDACORP INC 1.1 %
SERVICE CORP INTERNATIONAL 1.1 %
Total 12.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 88.7 %
BERMUDA 1.9 %
PUERTO RICO 0.3 %
IRELAND 0.3 %
CAYMAN ISLANDS 0.2 %
SINGAPORE 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.
-2.9% -2.9% -- -- 9.8%

Market Correlations
versus... Beta R-squared
S&P500 0.86 80%
MSCI EAFE 0.82 72%
MSCI Emg. Mkts. 0.66 59%

Technical Indicators
Recent close $35.17
30d moving avg. $33.79
Annualized volatility 18.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 171
Turnover 0.7%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $8,681

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SMMV Expense: 20 bp ALTAR Score™: 3.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SMMV
Ticker Fund
Name		 Overlap1
vs SMMV
(%)		 Expense
ratio
(bp)		 Savings
vs SMMV
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs SMMV
(%)
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 31.1 80 -60 4.7 +1.1
XMLV Invesco S&P MidCap Low Volatility ETF 27.6 25 -5 5.1 +1.4
SIXL 6 Meridian Low Beta Equity Strategy ETF 27.3 84 -64 4.2 +0.5
FSMD Fidelity Small-Mid Factor ETF 22.8 29 -9 5.3 +1.6
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 21.6 35 -15 5.0 +1.3
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 19.9 48 -28 5.6 +1.9
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 19.1 24 -4 5.0 +1.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 18.6 6 14 4.1 +0.4
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 18.4 35 -15 6.0 +2.3
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 18.4 35 -15 6.0 +2.3
SMDY Syntax Stratified MidCap ETF 18.3 30 -10 5.2 +1.5
TPSC Timothy Plan US Small Cap Core ETF 18.1 52 -32 5.7 +2.0
EWMC Invesco S&P MidCap 400 Equal Weight ETF 17.8 40 -20 5.7 +2.0
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 17.8 12 8 6.1 +2.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 17.8 30 -10 6.1 +2.4
SFYX Sofi Next 500 ETF 17.6 0 20 4.9 +1.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 17.4 17 3 4.1 +0.4
MDY SPDR S&P Midcap 400 ETF Trust 17.2 23 -3 5.2 +1.5
SPMD SPDR Portfolio Mid Cap ETF 17.2 5 15 5.4 +1.7
IJH iShares Core S&P Mid-Cap ETF 17.2 5 15 5.4 +1.7
AFSM First Trust Active Factor Small Cap ETF 17.0 77 -57 4.4 +0.7
EZM WisdomTree U.S. MidCap Earnings Fund 16.9 38 -18 7.6 +3.9
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 16.9 29 -9 4.3 +0.6
IVOO Vanguard S&P Mid-Cap 400 ETF 16.9 10 10 5.3 +1.6
FNX First Trust Mid Cap Core AlphaDEX Fund 16.5 61 -41 5.1 +1.4
JHSC John Hancock Multifactor Small Cap ETF 16.5 42 -22 4.6 +0.9
VBK Vanguard Small-Cap Growth Index Fund 16.1 7 13 1.9 -1.8
BKSE BNY Mellon US Small Cap Core Equity ETF 15.9 4 16 4.7 +1.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 15.9 20 0 3.9 +0.2
XSLV Invesco S&P SmallCap Low Volatility ETF 15.8 25 -5 4.6 +1.0
SCHA Schwab U.S. Small-Cap ETF 15.6 4 16 3.6 -0.1
MDYG SPDR S&P 400 Mid Cap Growth ETF 15.6 15 5 3.8 +0.1
IJK iShares S&P Mid-Cap 400 Growth ETF 15.6 17 3 3.8 +0.1
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 15.4 9 11 3.3 -0.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 15.2 29 -9 -0.3 -4.0
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 15.1 7 13 3.9 +0.2
DON WisdomTree U.S. MidCap Dividend Fund 15.1 38 -18 6.7 +3.0
IWO iShares Russell 2000 Growth ETF 15.1 24 -4 -0.1 -3.8
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 15.0 15 5 4.2 +0.6
MDYV SPDR S&P 400 Mid Cap Value ETF 14.9 15 5 6.9 +3.3
IJJ iShares S&P Mid-Cap 400 Value ETF 14.9 18 2 6.9 +3.2
VTWO Vanguard Russell 2000 Index Fund 14.9 10 10 2.7 -1.0
JKJ iShares Morningstar Small-Cap ETF 14.8 25 -5 5.1 +1.4
ROSC Hartford Multifactor Small Cap ETF 14.6 34 -14 6.6 +2.9
SLYG SPDR S&P 600 Small Cap Growth ETF 14.4 15 5 4.5 +0.8
IJT iShares S&P Small-Cap 600 Growth ETF 14.4 18 2 4.4 +0.7
JKK iShares Morningstar Small-Cap Growth ETF 14.3 30 -10 0.6 -3.1
VB Vanguard Small-Cap ETF 14.3 5 15 4.5 +0.8
RNMC Mid Cap US Equity Select ETF 14.3 60 -40 6.1 +2.4
FNK First Trust Mid Cap Value AlphaDEX Fund 14.2 70 -50 7.8 +4.1
SLY SPDR S&P 600 Small Cap ETF 14.1 15 5 5.6 +2.0
SPSM SPDR Portfolio Small Cap ETF 14.1 5 15 5.7 +2.1
IJR iShares Core S&P Small Cap ETF 14.0 6 14 5.7 +2.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 13.9 39 -19 3.5 -0.2
IWM iShares Russell 2000 ETF 13.9 19 1 2.5 -1.2
VTWG Vanguard Russell 2000 Growth Index Fund 13.8 15 5 0.1 -3.6
VIOO Vanguard S&P Small-Cap 600 ETF 13.8 10 10 5.6 +1.9
AFMC First Trust Active Factor Mid Cap ETF 13.8 65 -45 5.3 +1.6
NUSC Nuveen ESG Small-Cap ETF 13.7 40 -20 4.0 +0.3
RWK Invesco S&P MidCap 400 Revenue ETF 13.1 39 -19 6.4 +2.7
VIOG Vanguard S&P Small-Cap 600 Growth ETF 13.0 16 4 4.4 +0.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 12.9 35 -15 5.1 +1.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 12.9 25 -5 4.8 +1.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 12.7 70 -50 1.6 -2.1
IUSS Invesco Strategic US Small Company ETF 12.5 23 -3 3.7 +0.0
IVOV Vanguard S&P Mid-Cap 400 Value ETF 12.4 15 5 6.7 +3.0
SSLY Syntax Stratified SmallCap ETF 12.2 30 -10 5.0 +1.3
STSB iShares Factors US Small Blend Style ETF 12.0 35 -15 3.0 -0.7
VFLQ Vanguard U.S. Liquidity Factor ETF 12.0 14 6 3.5 -0.2
EES WisdomTree SmallCap Earnings Fund 11.9 38 -18 7.6 +3.9
ISMD Inspire Small/Mid Cap Impact ETF 11.8 60 -40 4.3 +0.7
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 11.8 40 -20 5.2 +1.5
VBR Vanguard Small Cap Value Index Fund 11.5 7 13 6.4 +2.7
DES WisdomTree U.S. SmallCap Dividend Fund 11.5 38 -18 6.7 +3.0
PSC Principal U.S. Small Cap Index ETF 11.2 38 -18 4.6 +0.9
SCHM Schwab U.S. Mid-Cap ETF 11.1 4 16 5.0 +1.4
VFMV Vanguard U.S. Minimum Volatility ETF 11.0 13 7 4.2 +0.5
CSML IQ Chaikin U.S. Small Cap ETF 10.9 35 -15 2.8 -0.9
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 10.8 39 -19 4.0 +0.4
VXF Vanguard Extended Market Index Fund 10.7 6 14 2.5 -1.2
FYX First Trust Small Cap Core AlphaDEX Fund 10.5 63 -43 5.5 +1.8
VFQY Vanguard U.S. Quality Factor ETF 10.4 13 7 5.3 +1.6
RNSC Small Cap US Equity Select ETF 10.4 60 -40 6.0 +2.3
IWN iShares Russell 2000 Value ETF 10.4 24 -4 5.1 +1.4
VIOV Vanguard S&P Small-Cap 600 Value ETF 10.2 15 5 6.9 +3.3
XMMO Invesco S&P MidCap Momentum ETF 10.2 34 -14 3.5 -0.2
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 10.1 20 0 7.1 +3.4
XMHQ Invesco S&P MidCap Quality ETF 9.9 25 -5 5.5 +1.8
OSCV Opus Small Cap Value Plus ETF 9.7 79 -59 4.6 +0.9
XSW SPDR S&P Software & Services ETF 9.6 35 -15 3.2 -0.5
SIXS 6 Meridian Small Cap Equity ETF 9.6 97 -77 7.3 +3.6
VTWV Vanguard Russell 2000 Value Index Fund 9.1 15 5 5.2 +1.5
SLYV SPDR S&P 600 Small Cap Value ETF 9.1 15 5 7.0 +3.3
IJS iShares S&P Small-cap 600 Value ETF 9.1 18 2 6.8 +3.1
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 9.0 38 -18 7.0 +3.3
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 8.7 41 -21 5.4 +1.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 8.7 29 -9 6.0 +2.4
FAB First Trust Multi Cap Value AlphaDEX Fund 8.5 71 -51 7.5 +3.8
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 8.5 24 -4 5.5 +1.8
SQLV Legg Mason Small-Cap Quality Value 8.4 62 -42 4.1 +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 Min Vol USA Small-Cap 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 10.1 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 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.