Vanguard Small-Cap Growth ETF
ALTAR
Score™
2.9% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
38.0x P/Sales
ratio
2.8x
P/BV
ratio
3.4x Div.
yield
0.9%


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

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Jan 30, 2004
Assets (mns) $9,352
Currency USD
Expense ratio 7 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 620
Wgt avg mkt cap (mns) $4,933
Large cap (>$10bn) 6.4%
Mid cap ($2-10bn) 78.5%
Small cap (<$2bn) 15.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BURLINGTON STORES INC 0.8 %
ZEBRA TECHNOLOGIES CORP-CL A 0.8 %
TELEDYNE TECHNOLOGIES INC 0.7 %
RINGCENTRAL, INC. CLASS A 0.7 %
WEST PHARMACEUTICAL SERVICES 0.6 %
TYLER TECHNOLOGIES INC 0.6 %
INSULET CORP 0.6 %
EPAM SYSTEMS INC 0.6 %
NEUROCRINE BIOSCIENCES INC 0.6 %
GUIDEWIRE SOFTWARE INC 0.6 %
Total 6.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.9 %
BERMUDA 0.7 %
IRELAND 0.7 %
BRITAIN 0.4 %
NETHERLANDS 0.3 %
SWITZERLAND 0.2 %
CAYMAN ISLANDS 0.1 %
CANADA 0.1 %
LUXEMBOURG 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.
23.2% 12.2% 9.2% 14.1% 9.5%

Market Correlations
versus... Beta R-squared
S&P500 1.17 81%
MSCI EAFE 0.91 42%
MSCI Emg. Mkts. 0.59 29%

Technical Indicators
Recent close $191.29
30d moving avg. $185.46
Annualized volatility 15.6%
Short interest (ETF) 0.3%
Short interest (Underlying) 7.2%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 138
Turnover 0.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $22,568

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: VBK Expense: 7 bp ALTAR Score™: 2.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VBK
Ticker Fund
Name
Overlap1
vs VBK
(%)
Expense
ratio
(bp)
Savings
vs VBK
(bp)
ALTAR
Score™
(%)
ALTAR
vs VBK
(%)
VB Vanguard Smallcap ETF 44.9 5 2 5.6 +2.8
PBSM Invesco PureBeta MSCI USA Small Cap 41.9 6 1 5.2 +2.4
SFYX SoFi Next 500 39.9 0 7 5.7 +2.9
ESML iShares MSCI USA Small-Cap ESG Optimized 37.7 17 -10 4.9 +2.0
SCHA Schwab U.S. Small-Cap 36.5 4 3 5.1 +2.3
FNY First Trust Mid Cap Growth AlphaDEX 36.4 70 -63 3.7 +0.8
IJH iShares Core S&P MidCap 34.8 7 0 6.4 +3.5
MDY S&P MidCap 400 SPDR 34.8 24 -17 6.2 +3.3
SPMD SPDR Portfolio Mid Cap 34.5 5 2 6.3 +3.5
IVOO Vanguard S&P Mid-Cap 400 34.2 15 -8 6.3 +3.4
SPSM SPDR Portfolio Small Cap 33.8 5 2 4.6 +1.7
IWM iShares Russell 2000 33.4 19 -12 3.8 +0.9
SCHM Schwab US Mid Cap 32.6 4 3 6.3 +3.5
VTWO Vanguard Russell 2000 32.5 15 -8 3.8 +0.9
VTWG Vanguard Russell 2000 Growth 32.3 20 -13 0.9 -2.0
VXF Vanguard Extended Market 32.1 7 0 3.4 +0.6
FSMD Fidelity Small-Mid Factor ETF 32.0 29 -22 6.5 +3.6
IWO iShares Russell 2000 Growth 32.0 24 -17 0.9 -2.0
IJK iShares S&P MidCap 400 Growth 30.8 24 -17 5.0 +2.1
MDYG SPDR S&P400 Mid Cap Growth 30.8 15 -8 5.1 +2.2

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 Small-Cap Growth ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.2 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 2.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.