Vanguard Small-Cap ETF
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
35.2x P/Sales
ratio
1.4x
P/BV
ratio
2.1x Div.
yield
1.5%


  • 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 26, 2004
Assets (mns) $28,475
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 1388
Wgt avg mkt cap (mns) $5,323
Large cap (>$10bn) 15.2%
Mid cap ($2-10bn) 67.2%
Small cap (<$2bn) 16.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PELOTON INTERACTIVE, INC. CLASS A 0.5 %
COUPA SOFTWARE, INC. 0.5 %
IMMUNOMEDICS INC 0.5 %
HORIZON PHARMA PLC 0.4 %
EPAM SYSTEMS INC 0.4 %
TELADOC INC 0.4 %
INSULET CORP 0.4 %
ETSY, INC. 0.4 %
STERIS PLC 0.4 %
ZEBRA TECHNOLOGIES CORP-CL A 0.4 %
Total 4.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.4 %
IRELAND 1.3 %
BERMUDA 1.0 %
BRITAIN 0.7 %
PUERTO RICO 0.2 %
CAYMAN ISLANDS 0.2 %
CANADA 0.1 %
NETHERLANDS 0.1 %
SWITZERLAND 0.0 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.7% 5.6% 8.5% 12.5% 8.9%

Market Correlations
versus... Beta R-squared
S&P500 1.23 90%
MSCI EAFE 1.27 80%
MSCI Emg. Mkts. 0.91 65%

Technical Indicators
Recent close $154.01
30d moving avg. $155.96
Annualized volatility 22.7%
Short interest (ETF) 0.6%
Short interest (Underlying) 6.2%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 563
Turnover 0.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $8,461

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Vanguard Small-Cap 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™: 5.4%


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 ETF 72.5 6 -1 5.3 -0.1
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 62.6 17 -12 5.0 -0.5
VXF Vanguard Extended Market Index Fund 59.2 6 -1 3.6 -1.8
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 55.1 7 -2 5.4 0.0
SCHA Schwab U.S. Small-Cap ETF 54.9 4 1 4.6 -0.8
SCHM Schwab U.S. Mid-Cap ETF 53.3 4 1 6.2 +0.8
SFYX Sofi Next 500 ETF 51.9 0 5 6.0 +0.6
BKSE BNY Mellon US Small Cap Core Equity ETF 51.5 4 1 6.1 +0.6
VBR Vanguard Small Cap Value Index Fund 49.4 7 -2 8.4 +3.0
VBK Vanguard Small-Cap Growth Index Fund 49.2 7 -2 2.4 -3.1
SMMD iShares Russell 2500 ETF 46.5 15 -10 5.9 +0.5
FSMD Fidelity Small-Mid Factor ETF 44.0 29 -24 6.4 +1.0
FNX First Trust Mid Cap Core AlphaDEX Fund 43.9 61 -56 6.6 +1.2
EZM WisdomTree U.S. MidCap Earnings Fund 42.3 38 -33 9.1 +3.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 40.5 25 -20 7.1 +1.6
JHMM John Hancock Multifactor Mid Cap ETF 40.3 42 -37 5.7 +0.2
IVOO Vanguard S&P Mid-Cap 400 ETF 39.9 10 -5 6.5 +1.1
IUSS Invesco Strategic US Small Company ETF 39.3 23 -18 5.4 -0.1
IJH iShares Core S&P Mid-Cap ETF 39.2 5 0 6.6 +1.1
SPMD SPDR Portfolio Mid Cap ETF 39.2 5 0 6.5 +1.1
MDY SPDR S&P Midcap 400 ETF Trust 39.2 23 -18 6.4 +0.9
EWMC Invesco S&P MidCap 400 Equal Weight ETF 38.9 40 -35 7.0 +1.6
SMDY Syntax Stratified MidCap ETF 35.5 30 -25 6.4 +0.9
IWM iShares Russell 2000 ETF 35.1 19 -14 3.7 -1.8
VTWO Vanguard Russell 2000 Index Fund 35.0 10 -5 3.7 -1.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 34.8 66 -61 2.5 -3.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 33.5 39 -34 4.8 -0.7
TUSA First Trust Total US Market AlphaDEX ETF 33.0 70 -65 6.1 +0.7
RNMC Mid Cap US Equity Select ETF 32.8 60 -55 7.8 +2.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 32.2 20 -15 5.2 -0.3
RWK Invesco S&P MidCap 400 Revenue ETF 31.8 39 -34 7.9 +2.4
EQAL Invesco Russell 1000 Equal Weight ETF 31.7 20 -15 5.7 +0.2
IWR iShares Russell Midcap ETF 31.1 19 -14 5.6 +0.1
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 30.8 20 -15 9.7 +4.3
FNY First Trust Mid Cap Growth AlphaDEX Fund 29.8 70 -65 2.1 -3.3
NUSC Nuveen ESG Small-Cap ETF 29.7 40 -35 5.0 -0.4
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 28.7 15 -10 5.0 -0.4
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 28.6 29 -24 6.9 +1.5
DON WisdomTree U.S. MidCap Dividend Fund 28.3 38 -33 7.8 +2.3
IWS iShares Russell Mid-Cap Value ETF 28.2 24 -19 7.1 +1.6
MDYG SPDR S&P 400 Mid Cap Growth ETF 28.0 15 -10 5.0 -0.4
IJK iShares S&P Mid-Cap 400 Growth ETF 28.0 24 -19 4.9 -0.5
AFMC First Trust Active Factor Mid Cap ETF 27.3 65 -60 6.5 +1.0
ONEO SPDR Russell 1000 Momentum Focus ETF 26.5 20 -15 6.4 +1.0
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 26.1 25 -20 6.8 +1.3
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 25.5 24 -19 6.7 +1.2
IWP iShares Russell Mid-Cap Growth ETF 25.2 24 -19 3.0 -2.5
MDYV SPDR S&P 400 Mid Cap Value ETF 25.2 15 -10 8.6 +3.2
IJJ iShares S&P Mid-Cap 400 Value ETF 25.2 25 -20 8.5 +3.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 25.0 15 -10 8.7 +3.2
JHSC John Hancock Multifactor Small Cap ETF 24.7 42 -37 5.9 +0.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 24.3 24 -19 6.2 +0.7
VFQY Vanguard U.S. Quality Factor ETF 24.0 13 -8 6.4 +1.0
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 24.0 29 -24 5.4 -0.0
VFMO Vanguard U.S. Momentum Factor ETF 23.9 13 -8 0.9 -4.6
ONEV SPDR Russell 1000 Low Volatility Focus ETF 23.3 20 -15 7.0 +1.5
VFLQ Vanguard U.S. Liquidity Factor ETF 23.2 14 -9 4.3 -1.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 22.1 17 -12 6.4 +0.9
FAB First Trust Multi Cap Value AlphaDEX Fund 21.7 71 -66 10.0 +4.6
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 21.7 29 -24 9.6 +4.1
IWO iShares Russell 2000 Growth ETF 21.4 24 -19 0.0 -5.4
VTWG Vanguard Russell 2000 Growth Index Fund 21.2 15 -10 0.1 -5.4
VFVA Vanguard U.S. Value Factor ETF 21.1 14 -9 11.3 +5.8
IWN iShares Russell 2000 Value ETF 20.5 24 -19 7.3 +1.8
VTWV Vanguard Russell 2000 Value Index Fund 20.0 15 -10 7.3 +1.8
AVUS Avantis U.S. Equity ETF 18.9 15 -10 6.1 +0.7
VFMF Vanguard U.S. Multifactor ETF 18.8 19 -14 7.6 +2.1
TPLC Timothy Plan US Large Cap Core ETF 18.7 52 -47 5.4 -0.1
JKK iShares Morningstar Small-Cap Growth ETF 18.6 30 -25 1.2 -4.2
JKH iShares Morningstar Mid-Cap Growth ETF 18.1 30 -25 2.2 -3.2
BKMC BNY Mellon US Mid Cap Core Equity ETF 18.0 4 1 5.5 +0.1
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 17.7 35 -30 5.8 +0.3
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 17.6 20 -15 4.7 -0.7
BFOR Barron's 400 ETF 17.6 65 -60 6.4 +0.9
CFA VictoryShares US 500 Volatility Weighted Index ETF 17.6 35 -30 5.8 +0.3
FNK First Trust Mid Cap Value AlphaDEX Fund 17.3 70 -65 11.3 +5.9
JKJ iShares Morningstar Small-Cap ETF 16.7 25 -20 6.6 +1.2
JMOM JPMorgan U.S. Momentum Factor ETF 16.6 12 -7 3.9 -1.6
AFSM First Trust Active Factor Small Cap ETF 16.6 75 -70 5.5 +0.1
FYX First Trust Small Cap Core AlphaDEX Fund 16.1 63 -58 6.5 +1.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 16.0 29 -24 6.3 +0.8
JKL iShares Morningstar Small Cap Value ETF 16.0 30 -25 10.3 +4.9
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 15.6 15 -10 6.8 +1.4
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 15.4 35 -30 5.4 -0.0
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 14.4 30 -25 5.7 +0.2
ONEY SPDR Russell 1000 Yield Focus ETF 14.2 20 -15 9.1 +3.7
VIS Vanguard Industrials Index Fund 14.2 10 -5 5.3 -0.1
USMF WisdomTree U.S. Multifactor Fund 14.1 28 -23 5.8 +0.3
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 14.0 29 -24 0.1 -5.3
FIDU Fidelity MSCI Industrials Index ETF 14.0 8 -3 5.5 +0.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 13.9 25 -20 7.3 +1.9
VLU SPDR S&P 1500 Value Tilt ETF 13.9 12 -7 7.6 +2.1
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 13.8 30 -25 7.7 +2.3
SIZE iShares Edge MSCI USA Size Factor ETF 13.7 15 -10 6.1 +0.7
VIOO Vanguard S&P Small-Cap 600 ETF 13.7 10 -5 7.2 +1.8
SPSM SPDR Portfolio Small Cap ETF 13.5 5 0 7.3 +1.8
IJR iShares Core S&P Small Cap ETF 13.5 6 -1 7.3 +1.8
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 13.5 40 -35 7.2 +1.8
SLY SPDR S&P 600 Small Cap ETF 13.5 15 -10 7.2 +1.7
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 13.4 80 -75 5.8 +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:
Vanguard 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 10.8 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 5 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.51
 
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.