Vanguard Small-Cap Growth Index Fund
ALTAR
Score™
2.2% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
71.8x P/Sales
ratio
3.8x
P/BV
ratio
4.4x Div.
yield
0.6%


  • 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 26, 2004
Assets (mns) $11,792
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 612
Wgt avg mkt cap (mns) $6,766
Large cap (>$10bn) 26.1%
Mid cap ($2-10bn) 63.0%
Small cap (<$2bn) 9.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
IMMUNOMEDICS INC 0.9 %
HORIZON PHARMA PLC 0.8 %
ETSY, INC. 0.8 %
INSULET CORP 0.8 %
ZEBRA TECHNOLOGIES CORP-CL A 0.8 %
CATALENT INC 0.7 %
TERADYNE INC 0.7 %
POOL CORP 0.7 %
MONOLITHIC POWER SYSTEMS INC 0.7 %
HUBSPOT INC 0.7 %
Total 7.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.0 %
IRELAND 1.4 %
BRITAIN 0.5 %
BERMUDA 0.5 %
NETHERLANDS 0.2 %
CAYMAN ISLANDS 0.2 %
CANADA 0.1 %
SWITZERLAND 0.0 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
8.6% 18.8% 13.7% 13.3% 10.0%

Market Correlations
versus... Beta R-squared
S&P500 1.19 86%
MSCI EAFE 1.19 71%
MSCI Emg. Mkts. 0.86 59%

Technical Indicators
Recent close $225.59
30d moving avg. $221.09
Annualized volatility 22.7%
Short interest (ETF) 0.5%
Short interest (Underlying) 7.2%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 202
Turnover 0.4%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $29,469

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Vanguard Small-Cap Growth Index Fund 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™: 2.2%


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 Small-Cap ETF 45.9 5 2 5.2 +2.9
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 45.2 7 0 5.1 +2.8
PBSM Invesco PureBeta MSCI USA Small Cap ETF 43.6 6 1 5.0 +2.8
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 42.1 17 -10 4.7 +2.5
SFYX Sofi Next 500 ETF 40.3 0 7 5.7 +3.5
BKSE BNY Mellon US Small Cap Core Equity ETF 40.1 4 3 5.6 +3.4
SCHM Schwab U.S. Mid-Cap ETF 38.6 4 3 5.9 +3.6
SCHA Schwab U.S. Small-Cap ETF 37.5 4 3 4.7 +2.4
FSMD Fidelity Small-Mid Factor ETF 36.5 29 -22 6.2 +3.9
FNY First Trust Mid Cap Growth AlphaDEX Fund 35.9 70 -63 2.1 -0.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 34.7 66 -59 2.3 +0.0
IVOO Vanguard S&P Mid-Cap 400 ETF 33.6 10 -3 6.2 +4.0
IJH iShares Core S&P Mid-Cap ETF 33.5 5 2 6.4 +4.2
SPMD SPDR Portfolio Mid Cap ETF 33.5 5 2 6.4 +4.2
MDY SPDR S&P Midcap 400 ETF Trust 33.5 23 -16 6.2 +4.0
JKK iShares Morningstar Small-Cap Growth ETF 33.4 30 -23 1.0 -1.2
VTWO Vanguard Russell 2000 Index Fund 33.3 10 -3 3.5 +1.3
IWM iShares Russell 2000 ETF 33.0 19 -12 3.3 +1.0
IJK iShares S&P Mid-Cap 400 Growth ETF 31.5 24 -17 4.8 +2.6
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 31.4 15 -8 4.8 +2.6
MDYG SPDR S&P 400 Mid Cap Growth ETF 31.4 15 -8 4.9 +2.7
VXF Vanguard Extended Market Index Fund 30.9 6 1 3.5 +1.3
FNX First Trust Mid Cap Core AlphaDEX Fund 30.3 61 -54 6.3 +4.1
VTWG Vanguard Russell 2000 Growth Index Fund 29.8 15 -8 0.1 -2.2
IWO iShares Russell 2000 Growth ETF 29.7 24 -17 -0.1 -2.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 27.4 39 -32 4.5 +2.2
IWP iShares Russell Mid-Cap Growth ETF 27.0 24 -17 2.9 +0.6
EWMC Invesco S&P MidCap 400 Equal Weight ETF 26.4 40 -33 7.1 +4.9
NUSC Nuveen ESG Small-Cap ETF 26.3 40 -33 4.7 +2.4
IUSS Invesco Strategic US Small Company ETF 24.7 23 -16 5.1 +2.9
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 24.7 20 -13 4.8 +2.5
SMDY Syntax Stratified MidCap ETF 24.5 30 -23 6.6 +4.4
JKH iShares Morningstar Mid-Cap Growth ETF 24.5 30 -23 2.0 -0.3
SMMD iShares Russell 2500 ETF 24.2 15 -8 5.6 +3.4
JHMM John Hancock Multifactor Mid Cap ETF 23.4 42 -35 5.4 +3.2
EZM WisdomTree U.S. MidCap Earnings Fund 23.2 38 -31 8.6 +6.3
AFMC First Trust Active Factor Mid Cap ETF 22.9 65 -58 6.2 +4.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 22.2 25 -18 7.2 +4.9
JHSC John Hancock Multifactor Small Cap ETF 21.9 42 -35 5.5 +3.2
VFMO Vanguard U.S. Momentum Factor ETF 20.7 13 -6 0.7 -1.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 20.5 24 -17 6.4 +4.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 19.6 29 -22 4.9 +2.7
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 19.4 30 -23 5.5 +3.3
RNMC Mid Cap US Equity Select ETF 18.3 60 -53 7.4 +5.2
RFG Invesco S&P Midcap 400 Pure Growth ETF 18.1 35 -28 3.9 +1.6
STSB iShares Factors US Small Blend Style ETF 18.1 35 -28 3.6 +1.4
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 18.0 20 -13 9.1 +6.8
TPLC Timothy Plan US Large Cap Core ETF 17.5 52 -45 5.2 +3.0
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 17.2 20 -13 4.6 +2.4
TUSA First Trust Total US Market AlphaDEX ETF 17.2 70 -63 5.6 +3.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 17.1 29 -22 0.2 -2.1
XSW SPDR S&P Software & Services ETF 16.5 35 -28 4.4 +2.2
EQAL Invesco Russell 1000 Equal Weight ETF 16.5 20 -13 5.8 +3.6
IWR iShares Russell Midcap ETF 16.3 19 -12 5.4 +3.1
STMB iShares Factors US Mid Blend Style ETF 16.2 30 -23 5.6 +3.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 16.1 24 -17 6.0 +3.7
AFSM First Trust Active Factor Small Cap ETF 16.0 75 -68 5.4 +3.2
USMF WisdomTree U.S. Multifactor Fund 14.9 28 -21 5.8 +3.5
BFOR Barron's 400 ETF 14.9 65 -58 6.4 +4.1
JHMT John Hancock Multifactor Technology ETF 14.8 40 -33 4.8 +2.6
JMOM JPMorgan U.S. Momentum Factor ETF 14.7 12 -5 3.3 +1.1
FTC First Trust Large Cap Growth AlphaDEX Fund 14.7 61 -54 2.7 +0.4
XMMO Invesco S&P MidCap Momentum ETF 14.5 34 -27 3.8 +1.6
IGV iShares Expanded Tech-Software ETF 14.4 46 -39 2.2 0.0
ONEO SPDR Russell 1000 Momentum Focus ETF 13.8 20 -13 6.3 +4.0
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 13.8 29 -22 6.7 +4.5
RWK Invesco S&P MidCap 400 Revenue ETF 13.7 39 -32 7.9 +5.7
VFLQ Vanguard U.S. Liquidity Factor ETF 13.6 14 -7 4.1 +1.9
VFQY Vanguard U.S. Quality Factor ETF 13.3 13 -6 6.3 +4.1
DON WisdomTree U.S. MidCap Dividend Fund 13.3 38 -31 7.4 +5.2
IJJ iShares S&P Mid-Cap 400 Value ETF 13.2 25 -18 8.1 +5.9
CFA VictoryShares US 500 Volatility Weighted Index ETF 13.2 35 -28 5.6 +3.4
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 13.2 35 -28 5.6 +3.4
IEIH iShares Evolved U.S. Innovative Healthcare ETF 12.9 18 -11 3.3 +1.1
MDYV SPDR S&P 400 Mid Cap Value ETF 12.6 15 -8 8.3 +6.1
BKMC BNY Mellon US Mid Cap Core Equity ETF 12.4 4 3 5.2 +2.9
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 12.4 30 -23 5.5 +3.3
PDP Invesco DWA Momentum ETF 11.9 62 -55 2.3 +0.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.8 15 -8 8.2 +5.9
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 11.8 35 -28 5.3 +3.1
JHMH John Hancock Multifactor Healthcare ETF 11.8 40 -33 6.1 +3.9
SLT Salt TruBeta High Exposure ETF 11.7 60 -53 3.3 +1.1
BMED BlackRock Future Health ETF 11.7 85 -78 -1.1 -3.4
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 11.5 17 -10 6.3 +4.0
IBB iShares NASDAQ Biotechnology ETF 11.3 46 -39 0.5 -1.7
ONEV SPDR Russell 1000 Low Volatility Focus ETF 11.2 20 -13 6.8 +4.6
FXL First Trust Technology AlphaDEX Fund 11.2 61 -54 3.2 +1.0
QGRO American Century STOXX U.S. Quality Growth ETF 11.2 29 -22 3.7 +1.5
VIOO Vanguard S&P Small-Cap 600 ETF 11.1 10 -3 6.8 +4.6
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 11.0 35 -28 5.9 +3.6
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 11.0 30 -23 7.4 +5.2
FXH First Trust Health Care AlphaDEX Fund 10.9 62 -55 3.9 +1.7
JKJ iShares Morningstar Small-Cap ETF 10.8 25 -18 6.3 +4.0
BOSS Global X Founder-Run Companies ETF 10.8 45 -38 3.2 +1.0
FHLC Fidelity MSCI Health Care Index ETF 10.6 8 -1 5.5 +3.2
KOMP SPDR Kensho New Economies Composite ETF 10.5 20 -13 2.3 +0.0
IJR iShares Core S&P Small Cap ETF 10.4 6 1 6.9 +4.7
SPSM SPDR Portfolio Small Cap ETF 10.4 5 2 6.9 +4.7
SLY SPDR S&P 600 Small Cap ETF 10.4 15 -8 6.8 +4.6
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 10.3 80 -73 5.6 +3.4

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 Growth Index Fund
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 9.4 %
Divided by: Fwd. P/BV 4.1 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 2.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 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.