ETF Research Center

iShares Top 20 U.S. Stocks ETF

ALTAR
Score™

3.3%

Recommen-
dation

UNDERWEIGHT

2025E 2026E
P/E ratio	32.4x	P/Sales ratio	5.5x
P/BV ratio	7.1x	Div. yield	0.6%

Description
Performance
Comps
Fundamentals
Valuation
Rating

The iShares Top 20 U.S. Stocks ETF seeks to track the investment results of an index composed of the 20 largest U.S. companies by market capitalization within the S&P 500 Index.

FUND BASICS
Category	US Equities
Fund Sponsor	iShares
Website	www.ishares.com/us/products/339779/ishares-top-20-u-s-stocks-etf
Inception date	Oct 24, 2024
Assets (mns)	$464
Currency	USD
Expense ratio	20 bp
Distributions

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	21
Wgt avg mkt cap (mns)	$2,533,040
Large cap (>$10bn)	100.0%
Mid cap ($2-10bn)	0.0%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	0.0 %
	0.0 %

TOP COUNTRY EXPOSURE
		0.0 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 01)
Year-to-date	1 year	5 years	10 years	Since Incep.
--	--	--	--	0.0%

Market Correlations
versus...	Beta	R-squared
S&P500	--	--
MSCI EAFE	--	--
MSCI Emg. Mkts.	--	--

Technical Indicators
Recent close	$31.09
30d moving avg.	$31.13
Annualized volatility	0.0%
Short interest (ETF)	0.2%
Relative strength (RSI)	53

Liquidity measures
Avg. volume (thou.)	401
Turnover	2.7%
Bid/Ask (% of price)	0.03%
ADV underlying (mns)	$115,585

Distributions

There were no matches found with other funds under coverage.

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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 Top 20 U.S. Stocks 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	24.3	%
Divided by: Fwd. P/BV	7.0	x
Less: Expense ratio	20	bp
Equals: ALTAR Score	3.3	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.48	CATEGORY AVERAGE	1.58

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.