Vanguard Smallcap ETF
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
20.2x P/Sales
ratio
1.3x
P/BV
ratio
2.1x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard Small-Cap ETF seeks to track the performance of the MSCI US Small Market 1750 Index. The Fund invests all of its assets in the stocks that make up the Index, holding each stock in the

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Jan 30, 2004
Assets (mns) $26,213
Currency USD
Expense ratio 5 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian JPMorgan Chase Bank
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1378
Wgt avg mkt cap (mns) $4,585
Large cap (>$10bn) 5.2%
Mid cap ($2-10bn) 78.0%
Small cap (<$2bn) 16.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BURLINGTON STORES INC 0.4 %
SAIC INC 0.3 %
ATMOS ENERGY CORP 0.3 %
ZEBRA TECHNOLOGIES CORP-CL A 0.3 %
TELEDYNE TECHNOLOGIES INC 0.3 %
IDEX CORP 0.3 %
RINGCENTRAL, INC. CLASS A 0.3 %
TERADYNE INC 0.3 %
ALLEGION PLC 0.3 %
WEST PHARMACEUTICAL SERVICES 0.3 %
Total 3.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.9 %
BERMUDA 1.1 %
BRITAIN 0.7 %
IRELAND 0.6 %
PUERTO RICO 0.3 %
CAYMAN ISLANDS 0.2 %
NETHERLANDS 0.2 %
CANADA 0.1 %
SWITZERLAND 0.1 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
19.6% 8.6% 8.0% 13.3% 9.2%

Market Correlations
versus... Beta R-squared
S&P500 1.16 83%
MSCI EAFE 0.91 43%
MSCI Emg. Mkts. 0.57 27%

Technical Indicators
Recent close $159.73
30d moving avg. $157.67
Annualized volatility 15.4%
Short interest (ETF) 0.4%
Short interest (Underlying) 6.2%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 443
Turnover 0.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $37,383

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard Smallcap ETF ETF based on the alternatives' overlap in portfolio holdings with VB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VB Expense: 5 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VB
Ticker Fund
Name
Overlap1
vs VB
(%)
Expense
ratio
(bp)
Savings
vs VB
(bp)
ALTAR
Score™
(%)
ALTAR
vs VB
(%)
PBSM Invesco PureBeta MSCI USA Small Cap 80.0 6 -1 5.3 -0.4
VXF Vanguard Extended Market 66.3 7 -2 3.4 -2.2
SCHA Schwab U.S. Small-Cap 61.2 4 1 5.2 -0.5
SPSM SPDR Portfolio Small Cap 58.3 5 0 4.6 -1.0
SPMD SPDR Portfolio Mid Cap 58.3 5 0 6.4 +0.7
ESML iShares MSCI USA Small-Cap ESG Optimized 56.3 17 -12 4.9 -0.8
SFYX SoFi Next 500 55.7 0 5 5.8 +0.1
VBR Vanguard Small-Cap Value ETF 54.3 7 -2 7.9 +2.2
SCHM Schwab US Mid Cap 53.6 4 1 6.4 +0.7
OSIZ Invesco Russell 1000 Size Factor ETF 51.0 19 -14 6.3 +0.7
EZM WisdomTree Midcap Earnings 48.7 38 -33 7.9 +2.2
FNDA Schwab Fundamental Small Cap 47.6 25 -20 6.3 +0.6
FSMD Fidelity Small-Mid Factor ETF 46.6 29 -24 6.6 +0.9
VBK Vanguard Small-Cap Growth ETF 44.9 7 -2 2.9 -2.8
IUSS Invesco Strategic US Small Company 44.7 23 -18 6.4 +0.8
SMMD iShares Russell 2500 43.4 15 -10 5.8 +0.1
IJH iShares Core S&P MidCap 42.4 7 -2 6.4 +0.8
MDY S&P MidCap 400 SPDR 42.4 24 -19 6.2 +0.6
IVOO Vanguard S&P Mid-Cap 400 42.3 15 -10 6.4 +0.7
EWMC Invesco S&P Mid Cap 400 Equal Weight 42.2 40 -35 6.8 +1.2

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Vanguard Smallcap 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 11.2 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 5 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.55
 
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.