Vanguard S&P Small-Cap 600 Growth
ALTAR
Score™
4.2% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
25.1x P/Sales
ratio
1.9x
P/BV
ratio
2.5x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard S&P Small-Cap 600 Growth ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the S&P Small-Cap 600 Growth Index.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Sep 09, 2010
Assets (mns) $419
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 342
Wgt avg mkt cap (mns) $2,140
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 50.6%
Small cap (<$2bn) 49.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ARROWHEAD PHARMACEUTICALS, INC. 1.4 %
MEDICINES COMPANY 1.2 %
CABOT MICROELECTRONICS CORP 1.1 %
GLACIER BANCORP INC 1.0 %
AEROJET ROCKETDYNE HOLDINGS, INC. 1.0 %
EXPONENT INC 0.9 %
COMMUNITY BANK SYSTEM INC 0.9 %
RLI CORP 0.9 %
STRAYER EDUCATION INC 0.9 %
VIAVI SOLUTIONS INC. 0.9 %
Total 10.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.2 %
PUERTO RICO 0.8 %
CAYMAN ISLANDS 0.5 %
BRITAIN 0.4 %
IRELAND 0.2 %
BERMUDA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.1% 21.1% 10.6% -- 14.1%

Market Correlations
versus... Beta R-squared
S&P500 1.16 76%
MSCI EAFE 0.98 44%
MSCI Emg. Mkts. 0.59 28%

Technical Indicators
Recent close $171.16
30d moving avg. $165.20
Annualized volatility 16.2%
Short interest (ETF) 0.1%
Short interest (Underlying) 6.9%
Relative strength (RSI) 78

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.3%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $5,310

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard S&P Small-Cap 600 Growth ETF based on the alternatives' overlap in portfolio holdings with VIOG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VIOG Expense: 20 bp ALTAR Score™: 4.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VIOG
Ticker Fund
Name
Overlap1
vs VIOG
(%)
Expense
ratio
(bp)
Savings
vs VIOG
(bp)
ALTAR
Score™
(%)
ALTAR
vs VIOG
(%)
VIOO Vanguard S&P Small-Cap 600 63.4 15 5 5.7 +1.4
IJT iShares S&P 600 SmallCap Growth 62.7 25 -5 4.4 +0.2
SLYG SPDR S&P600 Small Cap Growth 62.5 15 5 4.6 +0.4
SLY SPDR S&P 600 Small Cap 60.9 15 5 5.9 +1.7
IJR iShares Core S&P Small-Cap 60.9 7 13 5.9 +1.7
EWSC Invesco S&P Small Cap 600 Equal Weight 48.0 40 -20 5.4 +1.2
SLYV SPDR S&P600 Small Cap Value 40.0 15 5 7.4 +3.2
IJS iShares S&P 600 SmallCap Value 37.8 25 -5 7.3 +3.1
ISMD Inspire Small/Mid Cap Impact 34.0 61 -41 4.7 +0.4
PXSG Invesco Fundamental Pure Small Growth 33.7 39 -19 4.7 +0.4
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 30.8 29 -9 4.6 +0.4
RZG Invesco S&P Smallcap 600 Pure Growth 30.4 35 -15 5.7 +1.5
CSA Victory CEMP US Small Cap Volatility Wtd 29.7 35 -15 6.9 +2.7
CSF Compass EMP US Discovery 500 Enhanced Vol. 29.7 35 -15 6.9 +2.7
TPSC Timothy Plan US Small Cap Core 29.4 52 -32 6.5 +2.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 29.1 39 -19 6.1 +1.9
FLQS Franklin LibertyQ U.S. Small Cap Equity 29.0 35 -15 5.9 +1.7
IWO iShares Russell 2000 Growth 28.8 24 -4 0.7 -3.5
VTWG Vanguard Russell 2000 Growth 28.7 20 0 0.8 -3.4
PSC Principal U.S. Small Cap Index 27.9 38 -18 6.3 +2.1

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 S&P Small-Cap 600 Growth
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 10.0 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 4.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.