ETF Research Center

iShares US Small Cap Value Factor ETF

ALTAR
Score™

7.5%

Recommen-
dation

SPECULATIVE

2025E 2026E
P/E ratio	16.1x	P/Sales ratio	0.9x
P/BV ratio	1.4x	Div. yield	2.4%

Description
Performance
Comps
Fundamentals
Valuation
Rating

SVAL tracks an equally-weighted index of small-cap value companies selected by multiple factors.

FUND BASICS
Category	US Equities
Fund Sponsor	Blackrock
Website	www.ishares.com
Inception date	Oct 27, 2020
Assets (mns)	$180
Currency	USD
Expense ratio	20 bp
Distributions

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	248
Wgt avg mkt cap (mns)	$1,986
Large cap (>$10bn)	0.0%
Mid cap ($2-10bn)	39.9%
Small cap (<$2bn)	60.1%
Developed mkts	99.4%
Emerging mkts	0.6%

TOP TEN HOLDINGS
Total	7.6 %
A-MARK PRECIOUS METALS, INC.	1.0 %
ULTRA CLEAN HOLDINGS	0.9 %
TETRA TECHNOLOGIES INC	0.9 %
TACTILE SYSTEMS TECHNOLOGY, INC.	0.7 %
PEABODY ENERGY CORPORATION	0.7 %
AMERICAN EAGLE OUTFITTERS	0.7 %
KAISER ALUMINUM CORP	0.7 %
ENERSYS	0.7 %
PHOTRONICS INC	0.6 %
ANDERSONS INC/THE	0.6 %

TOP COUNTRY EXPOSURE
	UNITED STATES	93.9 %
	BERMUDA	1.8 %
	NETHERLANDS	1.2 %
	IRELAND	0.8 %
	CANADA	0.6 %
	MONACO	0.5 %
	BRITAIN	0.5 %
	CAYMAN ISLANDS	0.4 %
	PUERTO RICO	0.4 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
7.0%	14.1%	10.3%	--	15.6%

Market Correlations
versus...	Beta	R-squared
S&P500	0.92	61%
MSCI EAFE	0.91	44%
MSCI Emg. Mkts.	0.73	34%

Technical Indicators
Recent close	$38.21
30d moving avg.	$37.15
Annualized volatility	22.1%
Short interest (ETF)	1.3%
Short interest (Underlying)	3.4%
Relative strength (RSI)	63

Liquidity measures
Avg. volume (thou.)	20
Turnover	0.4%
Bid/Ask (% of price)	0.20%
ADV underlying (mns)	$3,047

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 586 potential alternatives to the iShares US Small Cap Value Factor ETF ETF based on the alternatives' overlap in portfolio holdings with SVAL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

SVAL

Expense:

20 bp

ALTAR Score™:

7.5%

ALTERNATIVE ETFs BASED ON OVERLAP WITH SVAL
Ticker	Fund Name	Overlap¹ vs SVAL (%)	Expense ratio (bp)	Savings vs SVAL (bp)	ALTAR Score™ (%)	ALTAR vs SVAL (%)
FYT	First Trust Small Cap Value AlphaDEX Fund	26.1	73	-53	10.0	+2.5
IWN	iShares Russell 2000 Value ETF	25.7	24	-4	4.9	-2.5
VTWV	Vanguard Russell 2000 Value ETF	25.6	10	10	5.1	-2.4
AVUV	Avantis U.S. Small Cap Value ETF	24.4	25	-5	8.1	+0.6
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	23.0	29	-9	6.5	-0.9
IJS	iShares S&P Small-Cap 600 Value ETF	22.9	18	2	9.0	+1.6
FYX	First Trust Small Cap Core AlphaDEX Fund	22.4	61	-41	5.6	-1.8
AVSC	Avantis U.S Small Cap Equity ETF	21.9	25	-5	4.8	-2.6
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	21.6	15	5	9.1	+1.6
VIOV	Vanguard S&P Small-Cap 600 Value ETF	21.6	10	10	9.1	+1.6
EES	WisdomTree U.S. SmallCap Fund	21.3	38	-18	8.0	+0.6
SQLV	Royce Quant Small-Cap Quality Value ETF	20.8	60	-40	8.2	+0.7
CSA	VictoryShares US Small Cap Volatility Wtd ETF	20.6	35	-15	6.4	-1.1
AFSM	First Trust Active Factor Small Cap ETF	20.1	75	-55	6.0	-1.4
ROSC	Hartford Multifactor Small Cap ETF	20.1	34	-14	7.3	-0.2
DFSV	Dimensional US Small Cap Value ETF	19.8	31	-11	8.8	+1.3
ESIX	State Street SPDR S&P SmallCap 600 ESG ETF	19.6	12	8	6.7	-0.7
RWJ	Invesco S&P SmallCap 600 Revenue ETF	19.2	39	-19	7.6	+0.2
SMLV	State Street SPDR US Small Cap Low Volatility Index ETF	19.2	12	8	3.5	-4.0
USVM	VictoryShares US Small Mid Cap Value Momentum ETF	18.8	25	-5	7.9	+0.5
IJR	iShares Core S&P Small Cap ETF	18.8	6	14	6.5	-1.0
ISMD	Inspire Small/Mid Cap ETF	18.8	54	-34	5.4	-2.1
XJR	iShares ESG Screened S&P Small-Cap ETF	18.2	12	8	6.3	-1.1
DES	WisdomTree U.S. SmallCap Dividend Fund	18.0	38	-18	8.1	+0.7
QVMS	Invesco S&P SmallCap 600 QVM Multi-factor ETF	17.8	15	5	6.4	-1.1
SPSM	State Street SPDR Portfolio S&P 600 Small Cap ETF	17.6	3	17	6.5	-0.9
VIOO	Vanguard S&P Small-Cap 600 ETF	17.6	7	13	6.4	-1.1
GSSC	Goldman Sachs Activebeta U.S. Small Cap Equity ETF	17.4	20	0	4.2	-3.3
DFAT	Dimensional U.S. Targeted Value ETF	16.9	28	-8	8.5	+1.1
TPSC	Timothy Plan US Small Cap Core ETF	16.9	52	-32	6.4	-1.0
PSC	Principal U.S. Small-Cap ETF	16.0	38	-18	3.8	-3.7
XSVM	Invesco S&P SmallCap Value with Momentum ETF	15.7	36	-16	8.6	+1.1
BBSC	JPMorgan BetaBuilders U.S. Small Cap Equity ETF	15.7	9	11	3.9	-3.5
RSSL	Global X Russell 2000 ETF	15.6	8	12	2.8	-4.6
IWM	iShares Russell 2000 ETF	15.5	19	1	2.7	-4.7
FESM	Fidelity Enhanced Small Cap ETF	15.1	28	-8	2.4	-5.0
FLQS	Franklin U.S. Small Cap Multifactor Index ETF	14.8	35	-15	6.0	-1.5
OMFS	Invesco Russell 2000 Dynamic Multifactor ETF	14.7	39	-19	3.6	-3.9
FNDA	Schwab Fundamental US Small Co. Index ETF	14.4	25	-5	6.1	-1.3
RZV	Invesco S&P Smallcap 600 Pure Value ETF	13.8	35	-15	7.3	-0.2
DSMC	Distillate Small/Mid Cash Flow ETF	13.3	55	-35	11.0	+3.5
VTWO	Vanguard Russell 2000 ETF	13.2	7	13	2.9	-4.6
STXK	Strive Small-Cap ETF	13.2	18	2	5.2	-2.3
DGRS	WisdomTree US Smallcap Quality Dividend Growth Fund	12.8	38	-18	8.8	+1.4
FDM	First Trust Dow Jones Select MicroCap Index Fund	12.3	60	-40	6.9	-0.6
VAMO	Cambria Value & Momentum ETF	12.2	61	-41	5.0	-2.4
IJT	iShares S&P Small-Cap 600 Growth ETF	12.0	18	2	3.8	-3.7
BKSE	BNY Mellon US Small Cap Core Equity ETF	11.8	4	16	5.3	-2.1
PRFZ	Invesco FTSE RAFI US 1500 Small-Mid ETF	11.7	39	-19	2.4	-5.1
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	11.5	15	5	3.8	-3.7
VIOG	Vanguard S&P Small-Cap 600 Growth ETF	11.5	10	10	3.8	-3.7
CALF	Pacer US Small Cap Cash Cows 100 ETF	11.0	59	-39	9.3	+1.8
DFAS	Dimensional U.S. Small Cap ETF	11.0	26	-6	5.6	-1.9
VFVA	Vanguard U.S. Value Factor ETF	10.8	13	7	9.3	+1.8
JPSV	JPMorgan Active Small Cap Value ETF	10.8	74	-54	7.6	+0.1
ISCV	iShares Morningstar Small Cap Value ETF	10.6	6	14	7.7	+0.3
HWSM	Hotchkis & Wiley SMID Cap Diversified Value ETF	10.4	55	-35	8.7	+1.3
SMDX	Intech S&P Small-Mid Cap Divers Alp ETF	10.3	35	-15	6.3	-1.1
KRE	State Street SPDR S&P Regional Banking ETF	10.2	35	-15	8.2	+0.7
IWC	iShares Micro-Cap ETF	10.0	60	-40	-1.5	-8.9
SIXS	ETC 6 Meridian Small Cap Equity ETF	9.9	89	-69	7.8	+0.4
SCHA	Schwab U.S. Small-Cap ETF	9.8	4	16	4.6	-2.9
SMDV	ProShares Russell 2000 Dividend Growers ETF	9.8	40	-20	6.7	-0.7
SFLO	VictoryShares Small Cap Free Cash Flow ETF	9.8	49	-29	8.5	+1.1
IFRA	iShares U.S. Infrastructure ETF	9.7	30	-10	5.5	-2.0
JMEE	JPMorgan Market Expansion Enhanced Equity ETF	9.7	24	-4	6.0	-1.4
BFOR	ALPS Barron's 400 ETF	9.6	65	-45	4.9	-2.6
QABA	First Trust NASDAQ ABA Community Bank Index Fund	9.6	60	-40	7.7	+0.3
VFMF	Vanguard U.S. Multifactor ETF	9.5	18	2	6.7	-0.8
FSMD	Fidelity Small-Mid Multifactor ETF	9.5	15	5	6.6	-0.9
PSCF	Invesco S&P SmallCap Financials ETF	9.2	29	-9	8.5	+1.0
XSHQ	Invesco S&P SmallCap Quality ETF	9.2	29	-9	6.8	-0.7
FDLS	Inspire Fidelis Multi Factor ETF	9.1	76	-56	3.3	-4.2
GRPZ	Invesco S&P SmallCap 600 GARP ETF	8.8	35	-15	6.2	-1.3
FAB	First Trust Multi Cap Value AlphaDEX Fund	8.8	67	-47	8.5	+1.0
NUSC	Nuveen ESG Small-Cap ETF	8.7	31	-11	4.9	-2.6
XSLV	Invesco S&P SmallCap Low Volatility ETF	8.6	25	-5	7.3	-0.1
CSB	VictoryShares US Small Cap High Dividend Volatility Wtd ETF	8.5	35	-15	8.7	+1.2
PSCI	Invesco S&P SmallCap Industrials ETF	8.4	29	-9	4.4	-3.1
HAPS	Harbor Human Capital Factor US Small Cap ETF	8.4	60	-40	3.6	-3.9
SIXL	ETC 6 Meridian Low Beta Equity ETF	8.3	80	-60	5.7	-1.8
JHSC	John Hancock Multifactor Small Cap ETF	8.2	42	-22	5.9	-1.6
SCDS	JPMorgan Fundamental Data Science Small Core ETF	8.0	40	-20	4.0	-3.5
SMLF	iShares U.S. SmallCap Equity Factor ETF	8.0	15	5	5.0	-2.4
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	7.8	17	3	5.0	-2.4
KBE	State Street SPDR S&P Bank ETF	7.7	35	-15	8.3	+0.8
ETHO	Etho Climate Leadership U.S. ETF	7.7	47	-27	4.4	-3.0
AFMC	First Trust Active Factor Mid Cap ETF	7.7	65	-45	7.1	-0.4
QQQS	Invesco NASDAQ Future Gen 200 ETF	7.7	20	0	-4.2	-11.7
FYC	First Trust Small Cap Growth AlphaDEX Fund	7.6	71	-51	-0.6	-8.1
RZG	Invesco S&P Smallcap 600 Pure Growth ETF	7.6	35	-15	3.2	-4.3
DEEP	Roundhill Acquirers Deep Value ETF	7.5	80	-60	15.7	+8.3
PSCD	Invesco S&P SmallCap Consumer Discretionary ETF	7.5	29	-9	7.9	+0.5
SMCF	Themes US Small Cap Cash Flow Champions ETF	7.4	29	-9	10.1	+2.6
CAFG	Pacer US Small Cap Cash Cows Growth Leaders ETF	7.4	59	-39	4.8	-2.7
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	7.2	20	0	5.5	-2.0
SMOX	Horizon Small/Mid Cap Core Equity ETF	7.2	75	-55	5.4	-2.1
ISCB	iShares Morningstar Small-Cap ETF	7.1	4	16	5.4	-2.1
VBR	Vanguard Small Cap Value ETF	7.0	7	13	7.7	+0.3
PSCH	Invesco S&P SmallCap Health Care ETF	6.2	29	-9	2.5	-5.0
GVLU	Gotham 1000 Value ETF	5.9	50	-30	7.9	+0.5
FNK	First Trust Mid Cap Value AlphaDEX Fund	5.9	70	-50	9.3	+1.8
FNX	First Trust Mid Cap Core AlphaDEX Fund	5.8	60	-40	6.1	-1.4
DWAS	Invesco Dorsey Wright SmallCap Momentum ETF	5.8	60	-40	-0.9	-8.4
XSMO	Invesco S&P SmallCap Momentum ETF	5.8	39	-19	3.8	-3.7
VXF	Vanguard Extended Market ETF	5.7	5	15	3.9	-3.6
RFV	Invesco S&P Midcap 400 Pure Value ETF	5.6	35	-15	11.1	+3.7
SYLD	Cambria Shareholder Yield ETF	5.6	59	-39	10.3	+2.8
IWO	iShares Russell 2000 Growth ETF	5.5	24	-4	0.5	-6.9
IJJ	iShares S&P Mid-Cap 400 Value ETF	5.4	18	2	7.7	+0.2
XSHD	Invesco S&P SmallCap High Dividend Low Volatility ETF	5.4	30	-10	13.4	+6.0
MDYV	State Street SPDR S&P 400 Mid Cap Value ETF	5.3	15	5	7.7	+0.2
SCOW	Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF	5.1	59	-39	8.4	+0.9
DGLO	First Trust RBA Deglobalization ETF	5.1	70	-50	5.3	-2.2
JSMD	Janus Henderson Small/Mid Cap Growth Alpha ETF	5.1	30	-10	3.8	-3.7
IVOV	Vanguard S&P Mid-Cap 400 Value ETF	5.0	10	10	7.8	+0.3
TCV	Towle Value ETF	5.0	85	-65	9.8	+2.3
SDVY	First Trust SMID Cap Rising Dividend Achievers ETF	4.9	60	-40	5.5	-2.0
DXUV	Dimensional US Vector Equity ETF	4.8	28	-8	5.3	-2.2
PSCT	Invesco S&P SmallCap Information Technology ETF	4.7	29	-9	3.9	-3.5
XMVM	Invesco S&P MidCap Value with Momentum ETF	4.7	39	-19	7.3	-0.1
KOMP	State Street SPDR S&P Kensho New Economies Composite ETF	4.7	20	0	0.9	-6.6
KBWR	Invesco KBW Regional Banking ETF	4.7	35	-15	8.2	+0.8
VB	Vanguard Small-Cap ETF	4.6	5	15	5.2	-2.2
EZM	WisdomTree U.S. MidCap Fund	4.6	38	-18	7.9	+0.4
JSML	Janus Henderson Small Cap Growth Alpha ETF	4.6	30	-10	2.8	-4.7
SAWS	AAM Sawgrass US Small Cap Quality Growth ETF	4.5	55	-35	3.1	-4.3
HSMV	First Trust Horizon Managed Volatility Small/Mid ETF	4.5	80	-60	6.5	-0.9
VFQY	Vanguard U.S. Quality Factor ETF	4.4	13	7	5.5	-2.0
ECML	Euclidean Fundamental Value ETF	4.4	95	-75	8.9	+1.4
PEY	Invesco High Yield Equity Dividend Achievers ETF	4.3	52	-32	9.0	+1.5
WSML	iShares MSCI World Small-Cap ETF	4.3	15	5	5.3	-2.1
VTWG	Vanguard Russell 2000 Growth ETF	4.1	10	10	0.7	-6.8
XHS	State Street SPDR S&P Health Care Services ETF	4.1	35	-15	4.0	-3.5
EBI	Longview Advantage ETF	4.1	35	-15	6.0	-1.5
OPTZ	Optimize Strategy Index ETF	3.9	50	-30	3.9	-3.6
PAMC	Pacer Lunt MidCap Multi-Factor Alternator ETF	3.7	60	-40	6.7	-0.7
LQPE	PEO AlphaQuest Thematic PE ETF	3.7	125	-105	5.3	-2.2
FSCS	First Trust SMID Capital Strength ETF	3.6	60	-40	6.5	-1.0
PAVE	Global X U.S. Infrastructure Development ETF	3.5	47	-27	4.1	-3.4
PSCE	Invesco S&P SmallCap Energy ETF	3.5	29	-9	7.3	-0.1
MIDE	Xtrackers S&P MidCap 400 ESG ETF	3.5	15	5	6.7	-0.8
DBSC	Deepwater Beachfront Small Cap ETF	3.5	85	-65	1.1	-6.4
XES	State Street SPDR S&P Oil & Gas Equipment & Services ETF	3.5	35	-15	1.3	-6.2
IEZ	iShares U.S. Oil Equipment & Services ETF	3.4	40	-20	2.7	-4.7
TXS	Texas Capital Texas Equity Index ETF	3.4	49	-29	5.0	-2.5
XJH	iShares ESG Screened S&P Mid-Cap ETF	3.4	12	8	5.9	-1.6
ISCG	iShares Morningstar Small-Cap Growth ETF	3.4	6	14	2.8	-4.7
LST	Leuthold Select Industries ETF	3.4	91	-71	4.9	-2.6
MDY	SPDR S&P Midcap 400 ETF Trust	3.4	23	-3	5.8	-1.6
IJH	iShares Core S&P Mid-Cap ETF	3.3	5	15	6.0	-1.4
RNIN	Bushido Capital US SMID Cap Equity ETF	3.3	70	-50	11.3	+3.8
CCNR	ALPS CoreCommodity Natural Resources ETF	3.3	39	-19	8.0	+0.5
WCEO	Hypatia Women CEO ETF	3.2	85	-65	4.9	-2.6
DON	WisdomTree U.S. MidCap Dividend Fund	3.2	38	-18	7.8	+0.3
RWK	Invesco S&P MidCap 400 Revenue ETF	3.2	39	-19	7.8	+0.3
AIRR	First Trust RBA American Industrial Renaissance ETF	3.2	70	-50	3.4	-4.0
OUSM	ALPS O'Shares US Small-Cap Quality Dividend ETF	3.1	48	-28	7.6	+0.2
VFMO	Vanguard U.S. Momentum Factor ETF	3.1	13	7	1.8	-5.7
SPMD	State Street SPDR Portfolio S&P 400 Mid Cap ETF	3.1	3	17	6.0	-1.4
RFDA	RiverFront Dynamic US Dividend Advantage ETF	3.1	52	-32	5.4	-2.1
QVMM	Invesco S&P MidCap 400 QVM Multi-factor ETF	3.1	15	5	6.1	-1.4
MMSC	First Trust Multi-Manager Small Cap Opportunities ETF	3.1	95	-75	-0.5	-8.0
CVY	Invesco Zacks Multi-Asset Income ETF	3.1	106	-86	9.8	+2.3
NIXT	Research Affiliates Deletions ETF	3.1	9	11	7.0	-0.4
IVOO	Vanguard S&P Mid-Cap 400 ETF	3.0	7	13	6.0	-1.5
COPY	Tweedy, Browne Insider + Value ETF	3.0	80	-60	14.8	+7.3
FFSM	Fidelity Fundamental Small-Mid Cap ETF	2.9	43	-23	4.9	-2.6
PSCU	Invesco S&P SmallCap Utilities & Communication Services ETF	2.9	29	-9	4.0	-3.4
DHS	WisdomTree U.S. High Dividend Fund	2.9	38	-18	7.9	+0.4
XRT	State Street SPDR S&P Retail ETF	2.8	35	-15	7.0	-0.5
SURE	AdvisorShares Insiders Advantage ETF	2.7	90	-70	8.0	+0.5
RNSC	Furst Trust Small Cap US Equity Select ETF	2.7	60	-40	4.4	-3.0
PSCC	Invesco S&P SmallCap Consumer Staples ETF	2.7	29	-9	7.7	+0.2
MGMT	Ballast Small/Mid Cap ETF	2.7	110	-90	7.0	-0.4
REGL	ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.7	40	-20	6.4	-1.1
VFMV	Vanguard U.S. Minimum Volatility ETF	2.7	13	7	5.6	-1.8
XMLV	Invesco S&P MidCap Low Volatility ETF	2.6	25	-5	6.6	-0.9
BOAT	SonicShares Global Shipping ETF	2.6	69	-49	21.5	+14.1
TILT	FlexShares Morningstar US Market Factor Tilt Index Fund	2.5	25	-5	5.0	-2.5
PXI	Invesco Dorsey Wright Energy Momentum ETF	2.5	60	-40	5.7	-1.8
FVD	First Trust Value Line Dividend Index Fund	2.5	65	-45	5.4	-2.1
FAD	First Trust Multi Cap Growth AlphaDEX Fund	2.5	64	-44	1.3	-6.1
SRHQ	SRH U.S. Quality ETF	2.5	35	-15	6.5	-1.0
ARB	AltShares Merger Arbitrage ETF	2.5	77	-57	2.6	-4.9
ABLS	Abacus FCF Small Cap Leaders ETF	2.5	59	-39	4.7	-2.8
BOUT	Innovator IBD Breakout Opportunities ETF	2.4	81	-61	3.1	-4.3
XHE	State Street SPDR S&P Health Care Equipment ETF	2.4	35	-15	3.5	-4.0
FITE	State Street SPDR S&P Kensho Future Security ETF	2.4	45	-25	1.3	-6.2
XME	State Street SPDR S&P Metals & Mining ETF	2.4	35	-15	4.9	-2.6
BRNY	Burney U.S. Factor Rotation ETF Burney U.S. Factor Rotation	2.4	79	-59	4.4	-3.1
HWAY	Themes US Infrastructure ETF	2.3	29	-9	4.5	-2.9
OSCV	Opus Small Cap Value ETF	2.3	79	-59	5.6	-1.9
XTN	State Street SPDR S&P Transportation ETF	2.3	35	-15	3.5	-4.0
DFAC	Dimensional U.S. Core Equity 2 ETF	2.2	17	3	4.7	-2.7
PPTY	US Diversified Real Estate ETF	2.2	53	-33	7.6	+0.2
FTXR	First Trust Nasdaq Transportation ETF	2.2	60	-40	6.5	-1.0
OIH	VanEck Oil Services ETF	2.1	35	-15	2.7	-4.8
TMDV	ProShares Russell US Dividend Growers ETF	2.1	35	-15	5.9	-1.6
IHF	iShares U.S. Healthcare Providers ETF	2.1	40	-20	7.8	+0.4
PXJ	Invesco Oil & Gas Services ETF	2.0	63	-43	2.9	-4.6
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	2.0	35	-15	10.9	+3.5
DFUV	Dimensional US Marketwide Value ETF	2.0	22	-2	6.2	-1.2
LVHD	Franklin U.S. Low Volatility High Dividend Index ETF	2.0	27	-7	6.2	-1.2
BBRE	JPMorgan BetaBuilders MSCI U.S. REIT ETF	1.9	11	9	7.1	-0.3
VAW	Vanguard Materials ETF	1.9	9	11	4.7	-2.8
VPU	Vanguard Utilities ETF	1.9	9	11	4.7	-2.8
RNMC	First Trust Mid Cap US Equity Select ETF	1.9	60	-40	6.2	-1.3
CVAR	Cultivar ETF	1.9	87	-67	6.7	-0.8
VCR	Vanguard Consumer Discretionary ETF	1.8	9	11	4.2	-3.3
RDIV	Invesco S&P Ultra Dividend Revenue ETF	1.8	39	-19	9.6	+2.1
VLU	State Street SPDR S&P 1500 Value Tilt ETF	1.8	12	8	6.3	-1.2
FUTY	Fidelity MSCI Utilities Index ETF	1.8	8	12	4.7	-2.8
FSGS	First Trust SMID Growth Strength ETF	1.8	60	-40	4.7	-2.7
PKB	Invesco Building & Construction ETF	1.8	62	-42	3.1	-4.3
DCOR	Dimensional US Core Equity 1 ETF	1.8	14	6	4.6	-2.8
XSW	State Street SPDR S&P Software & Services ETF	1.8	35	-15	3.0	-4.5
DEW	WisdomTree Global High Dividend Fund	1.8	58	-38	7.1	-0.3
FMAT	Fidelity MSCI Materials Index ETF	1.8	8	12	4.7	-2.8
FNDB	Schwab Fundamental US Broad Market Index ETF	1.7	25	-5	6.3	-1.1
BBMC	JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	1.7	7	13	5.4	-2.1
AUSF	Global X Adaptive U.S. Factor ETF	1.7	27	-7	7.8	+0.4
PKW	Invesco Buyback Achievers ETF	1.7	62	-42	7.0	-0.4
USRT	iShares Core U.S. REIT ETF	1.7	8	12	7.0	-0.4
DIV	Global X SuperDividend US ETF	1.7	45	-25	9.4	+1.9
ALIL	Argent Focused Small Cap ETF	1.7	74	-54	5.4	-2.0
TINY	ProShares Nanotechnology ETF	1.7	58	-38	1.6	-5.8
SNPD	Xtrackers S&P ESG Dividend Aristocrats ETF	1.7	15	5	6.0	-1.4
PSL	Invesco Dorsey Wright Consumer Staples Momentum ETF	1.7	60	-40	5.2	-2.3
DRIV	Global X Autonomous & Electric Vehicles ETF	1.7	68	-48	3.5	-3.9
RWR	State Street SPDR Dow Jones REIT ETF	1.6	25	-5	6.7	-0.7
XTL	State Street SPDR S&P Telecom ETF	1.6	35	-15	2.1	-5.4
FRI	First Trust S&P REIT Index Fund	1.6	50	-30	6.6	-0.9
AKAF	The Frontier Economic Fund	1.6	20	0	5.0	-2.5
GRPM	Invesco S&P MidCap 400 GARP ETF	1.6	35	-15	6.7	-0.7
VDE	Vanguard Energy ETF	1.6	9	11	7.0	-0.4
HTEC	ROBO Global Healthcare Technology and Innovation ETF	1.6	68	-48	2.3	-5.1
XMHQ	Invesco S&P MidCap Quality ETF	1.6	25	-5	5.8	-1.7
SFYX	SoFi Next 500 ETF	1.6	0	20	5.0	-2.5
PSCM	Invesco S&P SmallCap Materials ETF	1.6	29	-9	9.4	+2.0
FNY	First Trust Mid Cap Growth AlphaDEX Fund	1.6	70	-50	2.0	-5.4
FDIS	Fidelity MSCI Consumer Discretionary Index ETF	1.5	8	12	4.2	-3.3
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	1.5	29	-9	5.7	-1.8
EMLP	First Trust North American Energy Infrastructure Fund	1.5	95	-75	4.6	-2.9
DFSU	Dimensional US Sustainability Core 1 ETF	1.5	18	2	4.7	-2.8
AVSU	Avantis Responsible U.S. Equity ETF	1.5	15	5	5.1	-2.4
DFAR	Dimensional US Real Estate ETF	1.5	19	1	7.2	-0.2
AVUS	Avantis U.S. Equity ETF	1.5	15	5	4.9	-2.6
ROBT	First Trust Nasdaq Artificial Intelligence & Robotics ETF	1.4	65	-45	1.5	-6.0
IYT	iShares US Transportation ETF	1.4	40	-20	4.3	-3.1
VDC	Vanguard Consumer Staples ETF	1.4	9	11	5.1	-2.4
FENY	Fidelity MSCI Energy Index ETF	1.4	8	12	7.1	-0.4
SDY	State Street SPDR S&P Dividend ETF	1.4	35	-15	5.7	-1.7
DVY	iShares Select Dividend ETF	1.4	38	-18	7.8	+0.4
TEXN	iShares Texas Equity ETF	1.4	20	0	5.3	-2.2
VIS	Vanguard Industrials ETF	1.4	9	11	3.4	-4.0
FREL	Fidelity MSCI Real Estate Index ETF	1.4	8	12	6.9	-0.5
PRNT	3D Printing ETF	1.3	66	-46	1.3	-6.2
FTXO	First Trust Nasdaq Bank ETF	1.3	60	-40	7.3	-0.1
AVIE	Avantis� Inflation Focused Equity ETF	1.3	25	-5	6.0	-1.5
GQRE	FlexShares Global Quality Real Estate Index Fund	1.3	45	-25	7.1	-0.3
IAK	iShares U.S. Insurance ETF	1.3	40	-20	6.7	-0.8
ABLD	Abacus FCF Real Assets Leaders ETF	1.3	69	-49	5.9	-1.6
VNQ	Vanguard Real Estate ETF	1.3	13	7	6.7	-0.8
TPYP	Tortoise North American Pipeline Fund	1.3	40	-20	5.0	-2.5
SPIT	F/m Emerald Special Situations ETF	1.3	105	-85	-0.7	-8.1
VBK	Vanguard Small-Cap Growth ETF	1.3	7	13	1.3	-6.2
FDHT	Fidelity Digital Health ETF	1.3	39	-19	1.7	-5.8
GPT	Intelligent Alpha Atlas ETF	1.3	69	-49	6.0	-1.4
EIPI	FT Energy Income Partners Enhanced Income ETF	1.3	110	-90	5.3	-2.2
JSTC	Adasina Social Justice All Cap Global ETF	1.3	89	-69	4.5	-3.0
VFH	Vanguard Financials ETF	1.3	9	11	6.0	-1.4
HAIL	State Street SPDR S&P Kensho Smart Mobility ETF	1.3	45	-25	-1.5	-9.0
TMFS	Motley Fool Small-Cap Growth ETF	1.3	85	-65	1.1	-6.3
ZIG	Acquirers Fund	1.3	84	-64	19.5	+12.1
EKG	First Trust Nasdaq Lux Digital Health Solutions ETF	1.3	65	-45	0.5	-6.9
FSTA	FIDELITY COVINGTON TRUST MSCI CONSUMER STAPLES INDEX ETF	1.3	8	12	5.1	-2.4
CGW	Invesco S&P Global Water Index ETF	1.2	57	-37	4.0	-3.4
CSD	Invesco S&P Spin-Off ETF	1.2	65	-45	3.9	-3.6
FCG	First Trust Natural Gas ETF	1.2	60	-40	14.4	+6.9
IEO	iShares U.S. Oil & Gas Exploration & Production ETF	1.2	40	-20	10.6	+3.1
PBJ	Invesco Food & Beverage ETF	1.2	57	-37	7.3	-0.1
FELV	Fidelity Enhanced Large Cap Value ETF	1.2	18	2	5.7	-1.7
POWR	iShares U.S. Power Infrastructure ETF	1.2	40	-20	3.9	-3.6
PJP	Invesco Pharmaceuticals ETF	1.2	57	-37	6.8	-0.6
XPH	State Street SPDR S&P Pharmaceuticals ETF	1.2	35	-15	-1.8	-9.3
SNSR	Global X Internet of Things ETF	1.2	68	-48	4.0	-3.5
FIDU	Fidelity MSCI Industrial Index ETF	1.2	8	12	3.4	-4.0
TAX	Cambria Tax Aware ETF	1.2	49	-29	4.1	-3.3
PXE	Invesco Energy Exploration & Production ETF	1.2	60	-40	12.8	+5.4
VRAI	Virtus Real Asset Income ETF	1.2	55	-35	8.6	+1.2
SCHH	Schwab U.S. REIT ETF	1.2	7	13	7.2	-0.2
IJK	iShares S&P Mid-Cap 400 Growth ETF	1.2	17	3	4.1	-3.4
IRET	iREIT - MarketVector Quality REIT Index ETF	1.2	60	-40	6.0	-1.4
FMED	Fidelity Disruptive Medicine ETF	1.1	50	-30	-1.2	-8.6
FDRV	Fidelity Electric Vehicles and Future Transportation ETF	1.1	39	-19	1.1	-6.4
HEAL	Global X HealthTech ETF	1.1	50	-30	-1.4	-8.9
FNCL	Fidelity MSCI Financials Index ETF	1.1	8	12	6.0	-1.5
IBBQ	Invesco Nasdaq Biotechnology ETF	1.1	19	1	0.3	-7.2
ZAP	Global X U.S. Electrification ETF	1.1	50	-30	3.4	-4.1
AVRE	Avantis Real Estate ETF	1.1	17	3	6.7	-0.8
REET	iShares Global REIT ETF	1.1	14	6	6.9	-0.6
BUL	Pacer US Cash Cows Growth ETF	1.1	60	-40	3.3	-4.1
IHE	iShares U.S. Pharmaceuticals ETF	1.1	40	-20	4.6	-2.8
AQWA	Global X Clean Water ETF	1.1	50	-30	4.4	-3.0
FPWR	First Trust EIP Power Solutions ETF	1.1	96	-76	4.3	-3.2
RWO	SPDR Dow Jones Global Real Estate ETF	1.1	50	-30	6.2	-1.3
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	1.1	15	5	4.1	-3.3
PRN	Invesco Dorsey Wright Industrials Momentum ETF	1.1	60	-40	1.2	-6.3
ABFL	Abacus FCF Leaders ETF	1.1	59	-39	3.8	-3.6
TBLU	Tortoise Global Water ESG ETF	1.0	40	-20	4.0	-3.5
FLOW	Global X U.S. Cash Flow Kings 100 ETF	1.0	25	-5	11.3	+3.8
MVPA	Miller Value Partners Appreciation ETF	1.0	60	-40	9.8	+2.3
IVOG	Vanguard S&P Mid-Cap 400 Growth ETF	1.0	10	10	4.1	-3.3
TOLZ	ProShares DJ Brookfield Global Infrastructure ETF	1.0	46	-26	4.9	-2.5
RSHO	Tema American Reshoring ETF	1.0	75	-55	3.5	-4.0
DFGR	Dimensional Global Real Estate ETF	1.0	22	-2	6.9	-0.5
NANR	SPDR S&P North American Natural Resources ETF	1.0	35	-15	6.1	-1.4
ACES	ALPS Clean Energy ETF	1.0	55	-35	-2.6	-10.1
SFGV	Sequoia Global Value ETF	1.0	23	-3	6.9	-0.5
PEZ	Invesco Dorsey Wright Consumer Cyclicals Momentum ETF	1.0	60	-40	0.7	-6.8
PRF	Invesco FTSE RAFI US 1000 ETF	1.0	34	-14	5.8	-1.6
PICK	iShares MSCI Global Metals & Mining Producers ETF	1.0	39	-19	7.9	+0.4
XBI	State Street SPDR S&P Biotech ETF	1.0	35	-15	-2.6	-10.1
DFAU	Dimensional US Core Equity Market ETF	1.0	12	8	4.4	-3.1
TINT	ProShares Smart Materials ETF	1.0	58	-38	5.4	-2.0
MOTO	SmartETFs Smart Transportation & Technology ETF	1.0	68	-48	5.5	-1.9
GINN	Goldman Sachs Innovate Equity ETF	1.0	52	-32	3.8	-3.6
FTXH	First Trust Nasdaq Pharmaceuticals ETF	0.9	60	-40	6.7	-0.7
PSI	Invesco Semiconductors ETF	0.9	57	-37	2.2	-5.2
FPX	First Trust US Equity Opportunities ETF	0.9	61	-41	0.9	-6.5
FTIF	First Trust Bloomberg Inflation Sensitive Equity ETF	0.9	60	-40	8.0	+0.5
IAT	iShares U.S. Regional Banks ETF	0.9	40	-20	7.8	+0.3
ERET	iShares Environmentally Aware Real Estate ETF	0.9	30	-10	6.6	-0.9
FDL	First Trust Morningstar Dividend Leaders Index Fund	0.9	45	-25	8.7	+1.3
CDIG	City Different Investments Global Equity ETF	0.9	75	-55	-1.5	-9.0
BULD	Pacer BlueStar Engineering the Future ETF	0.9	60	-40	0.4	-7.1
IHI	iShares U.S. Medical Devices ETF	0.9	40	-20	3.9	-3.5
KBWD	Invesco KBW High Dividend Yield Financial ETF	0.9	384	-364	15.2	+7.8
QCLN	First Trust Nasdaq Clean Edge Green Energy Index Fund	0.9	58	-38	-2.0	-9.4
NVIR	Horizon Kinetics Energy and Remediation ETF	0.9	85	-65	5.0	-2.4
PYZ	Invesco Dorsey Wright Basic Materials Momentum ETF	0.9	60	-40	3.8	-3.7
IDRV	iShares Self-driving EV & Tech ETF	0.9	47	-27	1.3	-6.2
LFSC	F/m Emerald Life Sciences Innovation ETF	0.9	79	-59	0.0	-7.5
KIE	State Street SPDR S&P Insurance ETF	0.9	35	-15	6.6	-0.8
AMID	Argent Mid Cap ETF Argent Mid Cap ETF	0.9	52	-32	4.8	-2.7
SPDG	State Street SPDR Portfolio S&P Sector Neutral Dividend ETF	0.8	5	15	7.3	-0.1
WBIY	WBI Power Factor High Dividend ETF	0.8	100	-80	11.8	+4.3
DTD	WisdomTree U.S. Total Dividend Fund	0.8	28	-8	5.6	-1.8
FTXN	First Trust Nasdaq Oil & Gas ETF	0.8	60	-40	9.0	+1.5
GNOM	Global X Genomics & Biotechnology ETF	0.8	50	-30	-2.8	-10.2
EIRL	iShares MSCI Ireland ETF	0.8	50	-30	7.2	-0.3
SMIG	AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF	0.8	60	-40	4.9	-2.5
SCDV	Bahl & Gaynor Small Cap Dividend ETF	0.8	70	-50	3.7	-3.8
SIMS	State Street SPDR S&P Kensho Intelligent Structures ETF	0.8	45	-25	4.2	-3.3
FTRI	First Trust Indxx Global Natural Resources Income ETF	0.8	70	-50	5.9	-1.5
SAGP	Strategas Global Policy Opportunities ETF	0.8	65	-45	4.5	-3.0
IBB	iShares Biotechnology ETF	0.8	45	-25	-0.5	-7.9
VUSE	Vident U.S. Equity Strategy ETF	0.8	50	-30	3.8	-3.7
RIET	Hoya Capital High Dividend Yield ETF	0.8	50	-30	13.5	+6.0
SRET	Global X SuperDividend REIT ETF	0.8	59	-39	12.1	+4.7
VYM	Vanguard High Dividend Yield Index ETF	0.8	6	14	6.0	-1.5
CCSO	Carbon Collective Climate Solutions US Equity ETF	0.8	35	-15	0.9	-6.6
SMAP	Amplify Small-Mid Cap Equity ETF	0.8	60	-40	4.3	-3.1
FPRO	Fidelity Real Estate Investment ETF	0.8	59	-39	6.0	-1.4
IGE	iShares North American Natural Resources ETF	0.8	41	-21	5.5	-2.0
NURE	Nuveen Short-Term REIT ETF	0.7	35	-15	7.2	-0.2
FMKT	The Free Markets ETF	0.7	76	-56	4.0	-3.4
EBIZ	Global X E-Commerce ETF	0.7	50	-30	4.3	-3.2
QOWZ	Invesco Nasdaq Free Cash Flow Achievers ETF	0.7	39	-19	3.7	-3.7
ITOT	iShares Core S&P Total U.S. Stock Market ETF	0.7	3	17	4.2	-3.2
IWV	iShares Russell 3000 ETF	0.7	20	0	4.1	-3.4
FNDX	Schwab Fundamental US Large Co. Index ETF	0.7	25	-5	6.3	-1.1
HOMZ	Hoya Capital Housing ETF	0.7	30	-10	9.2	+1.7
VTHR	Vanguard Russell 3000 ETF	0.7	7	13	4.2	-3.2
MADE	iShares U.S. Manufacturing ETF	0.7	40	-20	3.3	-4.1
WTV	WisdomTree US Value Fund of Benef Interest	0.7	12	8	7.6	+0.1
DFUS	Dimensional U.S. Equity ETF	0.7	9	11	4.2	-3.3
QDF	FlexShares Quality Dividend Index Fund	0.7	37	-17	5.4	-2.1
VTI	Vanguard Total Stock Market ETF	0.7	3	17	4.2	-3.2
XITK	State Street SPDR FactSet Innovative Technology ETF	0.7	45	-25	0.2	-7.3
BEDZ	AdvisorShares Hotel ETF	0.7	100	-80	5.3	-2.1
BATT	Amplify Lithium & Battery Technology ETF	0.7	59	-39	1.9	-5.6
LIT	Global X Lithium & Battery Tech ETF	0.7	75	-55	5.3	-2.2
SMOG	VanEck Low Carbon Energy ETF	0.7	61	-41	1.2	-6.2
WBAT	WisdomTree Battery Value Chain and Innovation Fund	0.7	45	-25	-0.9	-8.4
IBAT	iShares Energy Storage & Materials ETF	0.7	47	-27	2.0	-5.5
AIPO	Defiance AI & Power Infrastructure ETF	0.7	69	-49	0.9	-6.5
POW	VistaShares Electrification Supercycle ETF	0.7	75	-55	2.4	-5.1
GRNJ	Fundstrat Granny Shts US Sm- &Mid-CapETF	0.7	75	-55	2.0	-5.5
NANC	Unusual Whales Subversive Democratic Trading ETF	0.6	75	-55	3.0	-4.4
LNGX	Global X U.S. Natural Gas ETF	0.6	45	-25	10.3	+2.8
FCPI	Fidelity Stocks for Inflation ETF	0.6	15	5	5.8	-1.6
SCHB	Schwab U.S. Broad Market ETF	0.6	3	17	4.3	-3.1
ITB	iShares U.S. Home Construction ETF	0.6	40	-20	9.9	+2.5
IBUY	Amplify Online Retail ETF	0.6	65	-45	2.2	-5.2
SPTM	State Street SPDR Portfolio S&P 1500 Composite Stock Market	0.6	3	17	4.5	-3.0
PHO	Invesco Water Resources ETF	0.6	60	-40	4.4	-3.1
AVUQ	Avantis U.S. Quality ETF	0.6	15	5	3.6	-3.8
GOP	Unusual Whales Subversive Republican Trading ETF	0.6	50	-30	4.6	-2.9
SUPL	ProShares Supply Chain Logistics ETF	0.6	58	-38	7.6	+0.1
NEWZ	StockSnips AI-Powered Sentiment US All Cap ETF	0.6	65	-45	5.1	-2.4
VHT	Vanguard Health Care ETF	0.6	9	11	4.9	-2.6
FHLC	Fidelity MSCI Health Care Index ETF	0.6	8	12	5.1	-2.4
ONEQ	Fidelity Nasdaq Composite Index ETF	0.6	21	-1	3.0	-4.4
DFNV	Donoghue Forlines Innovation ETF	0.6	69	-49	4.1	-3.3
CIBR	First Trust NASDAQ Cybersecurity ETF	0.6	60	-40	4.7	-2.7
VGT	Vanguard Information Technology ETF	0.6	9	11	3.5	-4.0
MFVL	Motley Fool Value Factor ETF	0.6	50	-30	5.4	-2.0
AVMV	Avantis U.S. Mid Cap Value ETF	0.6	20	0	7.1	-0.4
VEGI	iShares MSCI Agriculture Producers ETF	0.6	39	-19	7.0	-0.5
MAKX	ProShares S&P Kensho Smart Factories ETF	0.6	58	-38	1.4	-6.1
SDIV	Global X Superdividend ETF	0.5	58	-38	12.8	+5.4
FVAL	Fidelity Value Factor ETF	0.5	15	5	6.0	-1.5
GDX	VanEck Gold Miners ETF	0.5	51	-31	2.1	-5.3
GDXJ	VanEck Junior Gold Miners ETF	0.5	52	-32	2.0	-5.5
SIL	Global X Silver Miners ETF	0.5	65	-45	1.2	-6.3
AUAU	Global X Gold Miners ETF	0.5	35	-15	1.9	-5.5
SCHM	Schwab U.S. Mid-Cap ETF	0.5	4	16	5.9	-1.5
TMFX	Motley Fool Next Index ETF	0.5	50	-30	2.9	-4.5
ROE	Astoria US Quality Kings ETF	0.5	49	-29	5.4	-2.0
TCAI	Tortoise AI Infrastructure ETF	0.5	65	-45	1.6	-5.8
SLX	VanEck Steel ETF	0.5	56	-36	10.7	+3.3
AZTD	Aztlan Global Stock Selection DM SMID ETF	0.5	75	-55	4.1	-3.4
BBC	Virtus LifeSci Biotech Clinical Trials ETF	0.5	79	-59	0.0	-7.5
BMED	Future Health ETF	0.5	85	-65	1.1	-6.4
PTH	Invesco Dorsey Wright Healthcare Momentum ETF	0.5	60	-40	-1.8	-9.2
ROKT	State Street SPDR S&P Kensho Final Frontiers ETF	0.5	45	-25	0.9	-6.6
DTEC	ALPS Disruptive Technologies ETF	0.5	50	-30	3.7	-3.8
MILN	Global X Millennial Consumer ETF	0.5	50	-30	3.9	-3.6
RITA	ETFB Green SRI REITs ETF	0.5	50	-30	5.4	-2.0
XSD	State Street SPDR S&P Semiconductor ETF	0.5	35	-15	3.4	-4.1
CNRG	State Street SPDR S&P Kensho Clean Power ETF	0.5	45	-25	-0.0	-7.5
FAN	First Trust Global Wind Energy ETF	0.5	60	-40	2.9	-4.5
MMTM	State Street SPDR S&P 1500 Momentum Tilt ETF	0.5	12	8	3.6	-3.8
VGSR	Vert Global Sustainable Real Estate ETF	0.5	47	-27	6.9	-0.6
HART	IQ Healthy Hearts ETF	0.5	45	-25	5.6	-1.8
BESF	Bastion Energy ETF	0.5	80	-60	9.4	+1.9
CARZ	First Trust NASDAQ Global Auto Index Fund	0.5	70	-50	2.9	-4.5
CRAK	VanEck Oil Refiners ETF	0.5	61	-41	9.9	+2.4
RNWZ	TrueShares Eagle Global Renewable Energy Income ETF	0.5	75	-55	6.2	-1.3
IUS	Invesco RAFI Strategic US ETF	0.5	19	1	5.8	-1.7
ESGV	Vanguard ESG U.S. Stock ETF	0.5	9	11	4.3	-3.2
ICAP	InfraCap Equity Income Fund ETF	0.5	171	-151	4.2	-3.2
ROUS	Hartford Multifactor US Equity ETF	0.5	19	1	5.5	-2.0
KBWP	Invesco KBW Property & Casualty Insurance ETF	0.5	35	-15	6.9	-0.6
VOX	Vanguard Communication Services ETF	0.5	9	11	4.2	-3.2
FTEC	Fidelity MSCI Information Technology Index ETF	0.5	8	12	3.5	-4.0
SIXG	Defiance Connective Technologies ETF	0.4	30	-10	3.4	-4.0
ITEQ	BlueStar Israel Technology ETF	0.4	75	-55	1.3	-6.2
ARKG	ARK Genomic Revolution ETF	0.4	75	-55	-2.3	-9.7
ARKK	ARK Innovation ETF	0.4	75	-55	-3.1	-10.6
FBT	First Trust NYSE Arca Biotechnology Index Fund	0.4	56	-36	2.6	-4.9
HELX	Franklin Genomic Advancements ETF	0.4	50	-30	-1.4	-8.8
PBE	Invesco Biotechnology & Genome ETF	0.4	58	-38	1.8	-5.7
WDNA	WisdomTree BioRevolution Fund	0.4	45	-25	-2.3	-9.8
AGNG	Global X Aging Population ETF	0.4	50	-30	3.8	-3.6
NBCT	Neuberger Berman Carbon Transition Infrastructure ETF	0.4	55	-35	4.9	-2.6
SCHD	Schwab US Dividend Equity ETF	0.4	6	14	8.0	+0.6
XMMO	Invesco S&P MidCap Momentum ETF	0.4	34	-14	3.6	-3.9
FGD	First Trust Dow Jones Global Select Dividend Index Fund	0.4	56	-36	9.3	+1.8
WDIV	SPDR S&P Global Dividend ETF	0.4	40	-20	8.7	+1.3
FDFF	Fidelity Disruptive Finance ETF	0.4	50	-30	5.3	-2.1
DIVY	Sound Equity Dividend Income ETF	0.4	45	-25	7.7	+0.3
XAR	State Street SPDR S&P Aerospace & Defense ETF	0.4	35	-15	1.6	-5.9
SHPP	Pacer Industrials and Logistics ETF	0.4	60	-40	6.7	-0.8
PSIL	AdvisorShares Psychedelics ETF	0.4	99	-79	-1.9	-9.4
IBRN	iShares Neuroscience and Healthcare ETF	0.4	47	-27	0.0	-7.5
EIPX	FT Energy Income Partners Strategy ETF	0.4	95	-75	5.9	-1.6
RSMC	Rockefeller U.S. Small-Mid Cap ETF	0.4	75	-55	4.1	-3.4
VALQ	American Century U.S. Quality Value ETF	0.4	29	-9	6.7	-0.7
BOTZ	Global X Robotics & Artificial Intelligence ETF	0.4	69	-49	1.7	-5.8
PIO	Invesco Global Water ETF	0.4	75	-55	3.8	-3.6
IEDI	iShares U.S. Consumer Focused ETF	0.4	18	2	4.6	-2.8
FCOM	Fidelity MSCI Communication Services Index ETF	0.4	8	12	4.3	-3.2
TRFM	AAM Transformers ETF	0.4	49	-29	1.1	-6.3
DRLL	Strive U.S. Energy ETF	0.4	41	-21	8.2	+0.7
BLDG	Cambria Global Real Estate ETF	0.4	60	-40	10.9	+3.4
NETL	NETLease Corporate Real Estate ETF	0.4	60	-40	7.4	-0.1
BYRE	Principal Real Estate Active Opportunities ETF	0.4	65	-45	7.0	-0.5
SBIO	ALPS Medical Breakthroughs ETF	0.4	50	-30	0.0	-7.5
PUI	Invesco Dorsey Wright Utilities Momentum ETF	0.4	60	-40	4.2	-3.2
IQRA	IQ CBRE Real Assets ETF	0.4	65	-45	5.6	-1.9
BLOK	Amplify Transformational Data Sharing ETF	0.4	75	-55	-0.1	-7.5
STCE	Schwab Crypto Thematic ETF	0.4	30	-10	3.1	-4.4
FTXL	First Trust Nasdaq Semiconductor ETF	0.4	60	-40	3.1	-4.3
FIW	First Trust Water ETF	0.4	53	-33	4.5	-2.9
EFRA	iShares Environmental Infrastructure and Industrials ETF	0.4	47	-27	4.6	-2.9
EATZ	AdvisorShares Restaurant ETF	0.4	101	-81	4.6	-2.9
VICE	AdvisorShares Vice ETF	0.4	99	-79	5.5	-2.0
AVLV	Avantis U.S. Large Cap Value ETF	0.4	15	5	5.9	-1.6
FLRG	Fidelity U.S. Multifactor ETF	0.4	15	5	5.9	-1.6
MCOW	Pacer S&P MidCap 400 Quality FCF Aristocrats ETF	0.4	49	-29	6.4	-1.1
KBWY	Invesco KBW Premium Yield Equity REIT ETF	0.4	35	-15	9.3	+1.8
RDOG	ALPS REIT Dividend Dogs ETF	0.4	35	-15	12.2	+4.8
PSP	Invesco Global Listed Private Equity ETF	0.4	106	-86	6.2	-1.3
JHMM	John Hancock Multifactor Mid Cap ETF	0.4	42	-22	5.3	-2.1
XHB	State Street SPDR S&P Homebuilders ETF	0.4	35	-15	9.4	+1.9
PFI	Invesco Dorsey Wright Financial Momentum ETF	0.4	60	-40	4.8	-2.7
TTAC	FCF US Quality ETF	0.4	59	-39	5.2	-2.2
GURU	Global X Guru Index ETF	0.3	75	-55	2.5	-5.0
SMOT	VanEck Morningstar SMID Moat ETF	0.3	49	-29	6.3	-1.1
FELC	Fidelity Enhanced Large Cap Core ETF	0.3	18	2	4.5	-3.0
PBW	Invesco WilderHill Clean Energy ETF	0.3	66	-46	-3.1	-10.6
SOLR	Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund	0.3	79	-59	3.6	-3.9
IPAY	ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund	0.3	75	-55	5.8	-1.6
JETS	U.S. Global Jets ETF	0.3	60	-40	2.2	-5.2
AIRL	Themes Airlines ETF	0.3	35	-15	1.6	-5.9
CZA	Invesco Zacks Mid-Cap ETF	0.3	72	-52	5.8	-1.7
FINX	Global X FinTech ETF	0.3	68	-48	3.1	-4.4
DIVB	iShares Core Dividend ETF	0.3	5	15	7.3	-0.2
PFM	Invesco Dividend Achievers ETF	0.3	53	-33	4.6	-2.9
CGV	Conductor Global Equity Value ETF	0.3	130	-110	7.0	-0.4
IUSV	iShares Core S&P US Value ETF	0.3	4	16	5.8	-1.7
VT	Vanguard Total World Stock ETF	0.3	6	14	5.1	-2.4
DGRO	iShares Core Dividend Growth ETF	0.3	8	12	5.5	-2.0
IYG	iShares US Financial Services ETF	0.3	40	-20	5.2	-2.3
ANEW	ProShares MSCI Transformational Changes ETF	0.3	45	-25	4.3	-3.1
CLOU	Global X Cloud Computing ETF	0.3	68	-48	3.1	-4.3
BUG	Global X Cybersecurity ETF	0.3	51	-31	3.4	-4.0
IHAK	iShares Cybersecurity & Tech ETF	0.3	47	-27	4.5	-2.9
WCBR	WisdomTree Cybersecurity Fund	0.3	45	-25	3.0	-4.4
SPAM	Themes Cybersecurity ETF	0.3	35	-15	2.8	-4.7
FTXG	First Trust Nasdaq Food & Beverage ETF	0.3	60	-40	7.1	-0.3
GUNR	FlexShares Morningstar Global Upstream Natural Resources Ind	0.3	46	-26	7.4	-0.0
KVLE	KraneShares Value Line Dynamic Dividend Equity Index ETF	0.3	56	-36	6.8	-0.6
MOO	VanEck Agribusiness ETF	0.3	53	-33	8.2	+0.8
QDEF	FlexShares Quality Dividend Defensive Index Fund	0.3	37	-17	5.3	-2.1
QLV	FlexShares US Quality Low Volatility Index Fund	0.3	22	-2	4.9	-2.6
HDUS	Hartford Disciplined US Equity ETF	0.3	19	1	4.8	-2.6
FNDC	Schwab Fundamental International Small Co. Index ETF	0.3	39	-19	6.5	-1.0
DAT	ProShares Big Data Refiners ETF	0.3	58	-38	3.3	-4.2
OCEN	IQ Clean Oceans ETF	0.3	45	-25	4.5	-3.0
SOCL	Global X Social Media ETF	0.2	65	-45	10.8	+3.4
IQM	Franklin Intelligent Machines ETF	0.2	50	-30	1.3	-6.2
AVMC	Avantis U.S. Mid Cap Equity ETF	0.2	18	2	5.9	-1.5
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	0.2	9	11	4.9	-2.5
SXQG	ETC 6 Meridian Quality Growth ETF	0.2	100	-80	2.8	-4.7
VIG	Vanguard Dividend Appreciation ETF	0.2	5	15	4.9	-2.6
AIVL	WisdomTree U.S. AI Enhanced Value Fund	0.2	38	-18	5.1	-2.3
IGM	iShares Expanded Tech Sector ETF	0.2	41	-21	3.1	-4.3
PPA	Invesco Aerospace & Defense ETF	0.2	58	-38	1.6	-5.8
LRGF	iShares U.S. Equity Factor ETF	0.2	8	12	4.7	-2.7
AVDV	Avantis International Small Cap Value ETF	0.2	36	-16	7.4	-0.1
FMDE	Fidelity Enhanced Mid Cap ETF	0.2	23	-3	5.4	-2.1
PDN	Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF	0.2	49	-29	5.7	-1.7
FLDZ	RiverNorth Patriot ETF	0.2	75	-55	5.5	-2.0
HDV	iShares Core High Dividend ETF	0.2	8	12	5.8	-1.7
APUE	ActivePassive U.S. Equity ETF	0.1	45	-25	4.0	-3.4
STXV	Strive 1000 Value ETF	0.1	18	2	6.7	-0.7
FFF	Founders 100 ETF	0.1	75	-55	2.6	-4.8
ITA	iShares U.S. Aerospace & Defense ETF	0.1	40	-20	1.3	-6.1
FBCG	Fidelity Blue Chip Growth ETF	0.1	59	-39	2.3	-5.2
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	0.1	47	-27	4.8	-2.7
GWX	SPDR S&P International Small Cap ETF	0.1	40	-20	5.6	-1.9
TRFK	Pacer Data and Digital Revolution ETF	0.1	60	-40	2.8	-4.7
THRO	iShares U.S. Thematic Rotation Active ETF	0.1	90	-70	3.3	-4.2
GGME	Invesco Next Gen Media and Gaming ETF	0.1	60	-40	4.9	-2.5
PNQI	Invesco NASDAQ Internet ETF	0.1	60	-40	3.6	-3.8
CVLC	Calvert US Large-Cap Core Responsible Index ETF	0.1	15	5	4.4	-3.1
IGV	iShares Expanded Tech-Software Sector ETF	0.1	41	-21	3.7	-3.8
SCHK	Schwab 1000 Index ETF	0.1	5	15	4.3	-3.1
IYY	iShares Dow Jones U.S. ETF	0.1	20	0	4.2	-3.3
TMFE	Motley Fool Capital Efficiency 100 Index ETF	0.1	50	-30	3.3	-4.1
WSGE	Warren Street Global Equity ETF	0.1	80	-60	2.8	-4.6
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastructure	0.1	58	-38	3.5	-3.9
TDIV	First Trust NASDAQ Technology Dividend Index Fund	0.1	50	-30	5.3	-2.2
ENHU	iShares Enhanced Large Cap Core Active ETF	0.1	22	-2	4.2	-3.2
AVDS	Avantis International Small Cap Equity ETF	0.1	30	-10	5.8	-1.7
GUSA	Goldman Sachs MarketBeta U.S. 1000 Equity ETF	0.1	11	9	4.2	-3.2
IUSG	iShares Core S&P U.S. Growth ETF	0.1	4	16	3.2	-4.2
DSI	iShares MSCI KLD 400 Social ETF	0.1	25	-5	4.2	-3.2
PTL	Inspire 500 ETF	0.1	9	11	4.5	-2.9
AVSD	Avantis Responsible International Equity ETF	0.1	23	-3	5.7	-1.8
MFIG	Motley Fool Innovative Growth Factor ETF	0.0	50	-30	2.8	-4.6
AVDE	Avantis International Equity ETF	0.0	23	-3	6.0	-1.5
TECB	iShares U.S. Tech Breakthrough Multisector ETF	0.0	40	-20	3.5	-3.9
MFMO	Motley Fool Momentum Factor ETF	0.0	50	-30	2.2	-5.2
MFDX	PIMCO RAFI Dynamic Multi-Factor International Equity ETF	0.0	39	-19	5.9	-1.5
SPDW	SPDR Portfolio Developed World ex-US ETF	0.0	3	17	5.7	-1.7
ISCF	iShares International SmallCap Equity Factor ETF	0.0	23	-3	6.9	-0.5
ACVF	American Conservative Values ETF	0.0	75	-55	3.8	-3.7
SPRX	Spear Alpha ETF	0.0	75	-55	-0.8	-8.3
DFAI	Dimensional International Core Equity Market ETF	0.0	18	2	5.8	-1.7
VEGN	US Vegan Climate ETF	0.0	60	-40	4.0	-3.4
RAUS	RACWI US ETF	0.0	15	5	4.3	-3.2

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

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	iShares US Small Cap Value Factor ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	10.7	%
Divided by: Fwd. P/BV	1.4	x
Less: Expense ratio	20	bp
Equals: ALTAR Score	7.5	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.62	CATEGORY AVERAGE	1.57

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.