iShares Edge MSCI Min Vol USA Small-Cap ETF
ALTAR
Score™
7.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.9x P/Sales
ratio
1.4x
P/BV
ratio
1.5x Div.
yield
3.7%


  • 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) $460
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 385
Wgt avg mkt cap (mns) $3,069
Large cap (>$10bn) 0.1%
Mid cap ($2-10bn) 65.2%
Small cap (<$2bn) 34.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ROYAL GOLD INC 1.6 %
EQUITY COMMONWEALTH 1.6 %
FLOWERS FOODS INC 1.5 %
IDACORP INC 1.4 %
LIFE STORAGE, INC. 1.3 %
CUBESMART 1.3 %
PORTLAND GENERAL ELECTRIC CO 1.2 %
WHITE MOUNTAINS INSURANCE GP 1.2 %
AMERICAN HOMES 4 RENT- A 1.2 %
LANCASTER COLONY CORP 1.0 %
Total 13.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.4 %
BERMUDA 2.2 %
ISRAEL 0.9 %
NETHERLANDS 0.4 %
CANADA 0.3 %
PUERTO RICO 0.3 %
CAYMAN ISLANDS 0.2 %
BRITAIN 0.1 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-8.9% 2.3% -- -- 10.3%

Market Correlations
versus... Beta R-squared
S&P500 0.73 79%
MSCI EAFE 0.64 54%
MSCI Emg. Mkts. 0.38 27%

Technical Indicators
Recent close $25.97
30d moving avg. $30.23
Annualized volatility 10.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 160
Turnover 0.9%
Bid/Ask (% of price) -0.15%
ADV underlying (mns) $10,981

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™: 7.3%


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
(%)
FSMD Fidelity Small-Mid Factor ETF 29.2 29 -9 9.3 +2.0
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 28.7 24 -4 10.0 +2.8
PBSM Invesco PureBeta MSCI USA Small Cap ETF 27.1 6 14 7.5 +0.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 27.1 12 8 9.6 +2.3
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 24.5 35 -15 8.5 +1.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 23.9 17 3 6.8 -0.5
JHSC John Hancock Multifactor Small Cap ETF 22.9 50 -30 8.1 +0.8
VB Vanguard Small-Cap ETF 22.7 5 15 7.5 +0.3
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 22.5 20 0 9.7 +2.5
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 22.5 29 -9 7.9 +0.6
SCHA Schwab U.S. Small-Cap ETF 22.1 4 16 6.9 -0.4
EWMC Invesco S&P MidCap 400 Equal Weight ETF 21.7 40 -20 9.2 +1.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 21.6 25 -5 9.1 +1.8
IUSS Invesco Strategic US Small Company ETF 21.6 23 -3 8.5 +1.3
VFMV Vanguard U.S. Minimum Volatility ETF 21.3 13 7 5.8 -1.4
RNMC Mid Cap US Equity Select ETF 21.1 60 -40 9.4 +2.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 21.1 30 -10 9.9 +2.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 21.0 39 -19 5.9 -1.3
VBR Vanguard Small Cap Value Index Fund 20.8 7 13 11.1 +3.9
MDY SPDR S&P Midcap 400 ETF Trust 20.8 23 -3 8.4 +1.1
IJH iShares Core S&P Mid-Cap ETF 20.7 6 14 8.6 +1.3
SPMD SPDR Portfolio Mid Cap ETF 20.7 5 15 8.6 +1.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 20.7 20 0 8.2 +1.0
IVOO Vanguard S&P Mid-Cap 400 ETF 20.7 10 10 8.5 +1.3
XMLV Invesco S&P MidCap Low Volatility ETF 20.5 25 -5 7.6 +0.4
IWM iShares Russell 2000 ETF 20.0 19 1 5.2 -2.1
SMDY Syntax Stratified MidCap ETF 20.0 30 -10 8.6 +1.4
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 20.0 39 -19 8.0 +0.8
VTWO Vanguard Russell 2000 Index Fund 20.0 10 10 5.3 -1.9
VBK Vanguard Small-Cap Growth Index Fund 19.4 7 13 3.6 -3.6
NUSC Nuveen ESG Small-Cap ETF 18.8 40 -20 7.0 -0.3
IWN iShares Russell 2000 Value ETF 18.6 24 -4 9.4 +2.2
VTWV Vanguard Russell 2000 Value Index Fund 18.5 15 5 9.6 +2.3
VXF Vanguard Extended Market Index Fund 18.2 7 13 5.5 -1.8
FNX First Trust Mid Cap Core AlphaDEX Fund 18.1 61 -41 9.5 +2.2
EZM WisdomTree U.S. MidCap Earnings Fund 17.9 38 -18 12.8 +5.6
SFYX Sofi Next 500 ETF 17.9 0 20 7.6 +0.4
IJK iShares S&P Mid-Cap 400 Growth ETF 17.8 24 -4 6.3 -1.0
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 17.8 15 5 6.4 -0.9
MDYG SPDR S&P 400 Mid Cap Growth ETF 17.8 15 5 6.4 -0.9
PSC Principal U.S. Small Cap Index ETF 17.7 38 -18 10.0 +2.7
JKL iShares Morningstar Small Cap Value ETF 17.6 30 -10 13.9 +6.6
JKJ iShares Morningstar Small-Cap ETF 17.4 25 -5 8.5 +1.2
IJR iShares Core S&P Small Cap ETF 17.2 7 13 9.0 +1.8
AFMC First Trust Active Factor Mid Cap ETF 17.2 65 -45 9.1 +1.8
SPSM SPDR Portfolio Small Cap ETF 17.2 5 15 9.1 +1.8
SLY SPDR S&P 600 Small Cap ETF 17.2 15 5 8.9 +1.7
VIOO Vanguard S&P Small-Cap 600 ETF 17.0 10 10 9.0 +1.7
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 16.9 29 -9 0.0 -7.2
VTWG Vanguard Russell 2000 Growth Index Fund 16.7 15 5 1.7 -5.6
IWO iShares Russell 2000 Growth ETF 16.7 24 -4 1.4 -5.8
IJJ iShares S&P Mid-Cap 400 Value ETF 16.5 25 -5 11.3 +4.0
MDYV SPDR S&P 400 Mid Cap Value ETF 16.5 15 5 11.4 +4.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 16.4 15 5 11.4 +4.2
SCHM Schwab U.S. Mid-Cap ETF 16.3 4 16 8.4 +1.1
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 16.1 48 -28 8.4 +1.2
CSA Victory CEMP US Small Cap Volatility Weighted Index ETF 16.0 35 -15 11.0 +3.7
ISMD Inspire Small/Mid Cap Impact ETF 15.9 61 -41 7.1 -0.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 15.6 40 -20 8.4 +1.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 15.5 19 1 7.3 +0.0
TPSC Timothy Plan US Small Cap Core ETF 15.5 52 -32 10.2 +2.9
XMMO Invesco S&P MidCap Momentum ETF 15.1 39 -19 4.9 -2.3
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 15.0 35 -15 7.1 -0.2
RWK Invesco S&P MidCap 400 Revenue ETF 14.9 39 -19 11.1 +3.9
SLYG SPDR S&P 600 Small Cap Growth ETF 14.5 15 5 7.1 -0.2
IJT iShares S&P Small-Cap 600 Growth ETF 14.5 25 -5 7.0 -0.3
VIOG Vanguard S&P Small-Cap 600 Growth ETF 14.5 16 4 7.0 -0.2
XSLV Invesco S&P SmallCap Low Volatility ETF 14.5 25 -5 10.6 +3.3
ROGS Hartford Multifactor Global Small Cap ETF 14.4 34 -14 11.0 +3.7
DON WisdomTree U.S. MidCap Dividend Fund 14.2 38 -18 10.6 +3.3
FNY First Trust Mid Cap Growth AlphaDEX Fund 14.2 70 -50 4.2 -3.1
FNK First Trust Mid Cap Value AlphaDEX Fund 13.8 70 -50 14.8 +7.6
FYX First Trust Small Cap Core AlphaDEX Fund 13.6 63 -43 8.3 +1.1
VFLQ Vanguard U.S. Liquidity Factor ETF 13.3 13 7 5.1 -2.2
RNSC Small Cap US Equity Select ETF 12.9 60 -40 8.9 +1.6
DES WisdomTree U.S. SmallCap Dividend Fund 12.8 38 -18 11.7 +4.4
PXSG Invesco S&P SmallCap Momentum ETF 12.2 39 -19 6.9 -0.4
JKK iShares Morningstar Small-Cap Growth ETF 12.2 30 -10 2.0 -5.2
EES WisdomTree SmallCap Earnings Fund 12.2 38 -18 17.1 +9.8
FYC First Trust Small Cap Growth AlphaDEX Fund 12.1 70 -50 3.3 -3.9
SLYV SPDR S&P 600 Small Cap Value ETF 11.9 15 5 11.5 +4.2
AFSM First Trust Active Factor Small Cap ETF 11.9 75 -55 9.8 +2.5
IJS iShares S&P Small-cap 600 Value ETF 11.9 25 -5 11.3 +4.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 11.9 15 5 11.5 +4.2
SCAP AdvisorShares Cornerstone Small Cap ETF 11.5 90 -70 7.2 -0.0
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 11.4 24 -4 7.9 +0.6
QLV FlexShares US Quality Low Volatility Index Fund 11.1 22 -2 6.1 -1.2
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 11.0 29 -9 10.9 +3.6
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 10.9 11 9 8.4 +1.1
FRI First Trust S&P REIT Index Fund 10.8 50 -30 8.1 +0.8
PPTY PPTY-U.S. Diversified Real Estate ETF 10.7 53 -33 7.2 -0.0
ONEV SPDR Russell 1000 Low Volatility Focus ETF 10.7 20 0 8.9 +1.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 10.6 66 -46 4.0 -3.3
SMMD iShares Russell 2500 ETF 10.4 15 5 7.5 +0.2
USRT iShares Core U.S. REIT ETF 10.3 8 12 8.5 +1.2
JHMM John Hancock Multifactor Mid Cap ETF 10.1 44 -24 7.7 +0.4
OSCV Opus Small Cap Value Plus ETF 9.7 79 -59 7.4 +0.2
EQWM Invesco S&P MidCap Quality ETF 9.7 25 -5 6.5 -0.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 9.7 29 -9 8.7 +1.4
SMDV ProShares Russell 2000 Dividend Growers ETF 9.6 40 -20 7.9 +0.6

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:

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 11.0 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.52
 
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.