Vanguard S&P Small-Cap 600 ETF
ALTAR
Score™		 5.5% info Recommen-
dation		 OVERWEIGHT
2020E    2021E
P/E
ratio		 35.5x P/Sales
ratio		 1.3x
P/BV
ratio		 2.1x Div.
yield		 1.4%


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

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Sep 07, 2010
Assets (mns) $1,365
Currency USD
Expense ratio 10 bp
Distributions Annually

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 602
Wgt avg mkt cap (mns) $2,277
Large cap (>$10bn) 0.2%
Mid cap ($2-10bn) 52.7%
Small cap (<$2bn) 46.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CLEVELAND-CLIFFS INC 0.7 %
MICHAEL KORS HOLDINGS LTD 0.7 %
NEOGENOMICS INC 0.7 %
BROOKS AUTOMATION INC 0.6 %
IRIDIUM COMMUNICATIONS INC. 0.6 %
POWER INTEGRATIONS INC 0.6 %
YETI HOLDINGS, INC. 0.6 %
OMNICELL INC 0.6 %
PROTO LABS INC 0.5 %
SAIA INC 0.5 %
Total 6.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.6 %
BERMUDA 0.8 %
BRITAIN 0.7 %
PUERTO RICO 0.6 %
CAYMAN ISLANDS 0.3 %
IRELAND 0.2 %
NETHERLANDS 0.2 %




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.
11.5% 11.5% 12.4% 11.8% 13.2%

Market Correlations
versus... Beta R-squared
S&P500 1.27 85%
MSCI EAFE 1.24 80%
MSCI Emg. Mkts. 1.02 69%

Technical Indicators
Recent close $185.09
30d moving avg. $173.72
Annualized volatility 25.9%
Short interest (ETF) 0.2%
Short interest (Underlying) 6.5%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 40
Turnover 0.5%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $10,070

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Vanguard S&P Small-Cap 600 ETF ETF based on the alternatives' overlap in portfolio holdings with VIOO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VIOO Expense: 10 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VIOO
Ticker Fund
Name		 Overlap1
vs VIOO
(%)		 Expense
ratio
(bp)		 Savings
vs VIOO
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs VIOO
(%)
SPSM SPDR Portfolio Small Cap ETF 99.1 5 5 5.6 +0.1
SLY SPDR S&P 600 Small Cap ETF 99.1 15 -5 5.5 +0.0
IJR iShares Core S&P Small Cap ETF 98.0 6 4 5.6 +0.1
XJR iShares ESG Screened S&P Small-Cap ETF 95.0 12 -2 5.7 +0.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 72.2 40 -30 5.1 -0.5
VIOV Vanguard S&P Small-Cap 600 Value ETF 66.3 15 -5 6.9 +1.4
VIOG Vanguard S&P Small-Cap 600 Growth ETF 65.7 16 -6 4.3 -1.3
SLYG SPDR S&P 600 Small Cap Growth ETF 64.7 15 -5 4.4 -1.1
IJT iShares S&P Small-Cap 600 Growth ETF 64.1 18 -8 4.3 -1.2
SLYV SPDR S&P 600 Small Cap Value ETF 63.7 15 -5 6.9 +1.4
IJS iShares S&P Small-cap 600 Value ETF 63.6 18 -8 6.8 +1.3
SSLY Syntax Stratified SmallCap ETF 61.2 30 -20 4.9 -0.6
RWJ Invesco S&P SmallCap 600 Revenue ETF 55.1 39 -29 5.3 -0.2
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 45.0 9 1 3.3 -2.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 43.0 29 -19 4.2 -1.3
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 42.5 35 -25 6.0 +0.5
VTWO Vanguard Russell 2000 Index Fund 42.5 10 0 2.6 -2.9
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 42.4 35 -25 6.0 +0.5
IWN iShares Russell 2000 Value ETF 41.5 24 -14 5.0 -0.5
TPSC Timothy Plan US Small Cap Core ETF 41.3 52 -42 5.7 +0.1
VTWV Vanguard Russell 2000 Value Index Fund 39.2 15 -5 5.1 -0.4
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 38.6 20 -10 3.8 -1.7
FYX First Trust Small Cap Core AlphaDEX Fund 36.9 63 -53 5.4 -0.1
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 36.8 30 -20 6.0 +0.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 36.4 35 -25 4.9 -0.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 35.3 39 -29 3.4 -2.1
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 35.1 39 -29 3.9 -1.6
ISMD Inspire Small/Mid Cap Impact ETF 34.5 60 -50 4.3 -1.2
IWM iShares Russell 2000 ETF 34.0 19 -9 2.5 -3.0
RNSC Small Cap US Equity Select ETF 33.9 60 -50 6.0 +0.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 31.4 25 -15 4.8 -0.7
EES WisdomTree SmallCap Earnings Fund 31.3 38 -28 7.5 +2.0
RZG Invesco S&P Smallcap 600 Pure Growth ETF 31.2 35 -25 3.7 -1.8
STSB iShares Factors US Small Blend Style ETF 30.5 35 -25 2.9 -2.6
CSML IQ Chaikin U.S. Small Cap ETF 29.9 35 -25 2.8 -2.7
IUSS Invesco Strategic US Small Company ETF 29.9 23 -13 3.6 -1.9
PSC Principal U.S. Small Cap Index ETF 29.6 38 -28 4.6 -1.0
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 29.0 29 -19 -0.3 -5.8
DES WisdomTree U.S. SmallCap Dividend Fund 28.7 38 -28 6.7 +1.1
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 28.6 12 -2 6.0 +0.5
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 28.6 29 -19 4.9 -0.6
VTWG Vanguard Russell 2000 Growth Index Fund 27.3 15 -5 0.1 -5.5
AVUV Avantis U.S. Small Cap Value ETF 27.2 25 -15 6.3 +0.8
IWO iShares Russell 2000 Growth ETF 27.1 24 -14 -0.1 -5.6
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 26.1 24 -14 4.9 -0.6
SCHA Schwab U.S. Small-Cap ETF 25.1 4 6 3.6 -1.9
XSMO Invesco S&P SmallCap Momentum ETF 24.5 39 -29 3.6 -1.9
XSLV Invesco S&P SmallCap Low Volatility ETF 24.4 25 -15 4.6 -0.9
FYC First Trust Small Cap Growth AlphaDEX Fund 24.2 70 -60 1.7 -3.8
FYT First Trust Small Cap Value AlphaDEX Fund 23.9 72 -62 7.9 +2.4
PSCF Invesco S&P SmallCap Financials ETF 23.8 29 -19 9.0 +3.5
NUSC Nuveen ESG Small-Cap ETF 23.6 40 -30 3.9 -1.6
AFSM First Trust Active Factor Small Cap ETF 23.2 77 -67 4.3 -1.2
ROSC Hartford Multifactor Small Cap ETF 22.7 34 -24 6.5 +1.0
XSHQ Invesco S&P SmallCap Quality ETF 22.3 29 -19 5.3 -0.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 21.3 17 -7 4.0 -1.5
PBSM Invesco PureBeta MSCI USA Small Cap ETF 20.5 6 4 4.0 -1.5
FSMD Fidelity Small-Mid Factor ETF 19.7 29 -19 5.2 -0.3
JKJ iShares Morningstar Small-Cap ETF 19.1 25 -15 5.1 -0.5
RZV Invesco S&P Smallcap 600 Pure Value ETF 18.8 35 -25 6.8 +1.3
VFQY Vanguard U.S. Quality Factor ETF 18.8 13 -3 5.3 -0.2
XSVM Invesco S&P SmallCap Value with Momentum ETF 18.7 39 -29 6.8 +1.3
SVAL iShares US Small Cap Value Factor ETF 18.4 20 -10 8.3 +2.8
VFVA Vanguard U.S. Value Factor ETF 18.3 14 -4 8.5 +3.0
JKK iShares Morningstar Small-Cap Growth ETF 17.8 30 -20 0.6 -4.9
PSCI Invesco S&P SmallCap Industrials ETF 17.4 29 -19 5.0 -0.6
VBR Vanguard Small Cap Value Index Fund 16.9 7 3 6.4 +0.9
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 16.3 38 -28 7.0 +1.5
VFMF Vanguard U.S. Multifactor ETF 15.4 19 -9 6.1 +0.6
EZM WisdomTree U.S. MidCap Earnings Fund 15.1 38 -28 7.6 +2.0
SQLV Legg Mason Small-Cap Quality Value 15.1 62 -52 4.1 -1.5
SIXS 6 Meridian Small Cap Equity ETF 15.0 97 -87 7.1 +1.6
BKSE BNY Mellon US Small Cap Core Equity ETF 14.8 4 6 4.7 -0.8
PSCT Invesco S&P SmallCap Information Technology ETF 14.7 29 -19 4.1 -1.4
DWAS Invesco DWA SmallCap Momentum ETF 14.6 60 -50 -1.2 -6.7
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 14.5 29 -19 6.4 +0.8
BFOR Barron's 400 ETF 14.4 65 -55 5.6 +0.0
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 14.2 20 -10 3.6 -1.9
VB Vanguard Small-Cap ETF 14.0 5 5 4.4 -1.1
VFLQ Vanguard U.S. Liquidity Factor ETF 13.4 14 -4 3.5 -2.1
SIXL 6 Meridian Low Beta Equity Strategy ETF 13.2 84 -74 4.0 -1.5
CALF Pacer US Small Cap Cash Cows 100 ETF 13.1 59 -49 8.7 +3.2
JSML Janus Henderson Small Cap Growth Alpha ETF 13.0 30 -20 5.8 +0.3
VXF Vanguard Extended Market Index Fund 12.4 6 4 2.5 -3.0
PSCH Invesco S&P SmallCap Health Care ETF 12.2 29 -19 2.8 -2.8
FAD First Trust Multi Cap Growth AlphaDEX Fund 12.2 66 -56 1.8 -3.7
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 12.1 80 -70 4.7 -0.8
VBK Vanguard Small-Cap Growth Index Fund 11.7 7 3 1.9 -3.6
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 11.6 20 -10 7.1 +1.6
FAB First Trust Multi Cap Value AlphaDEX Fund 11.1 71 -61 7.5 +2.0
IWC iShares Micro-Cap ETF 11.0 60 -50 -3.2 -8.7
VUSE Vident Core US Equity Fund 10.4 48 -38 7.4 +1.9
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 10.4 30 -20 4.9 -0.7
VFMO Vanguard U.S. Momentum Factor ETF 10.1 13 -3 1.4 -4.2
VAMO Cambria Value & Momentum ETF 9.5 63 -53 5.4 -0.2
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 9.0 30 -20 7.3 +1.8
KRE SPDR S&P Regional Banking ETF 8.9 35 -25 7.5 +2.0
JHSC John Hancock Multifactor Small Cap ETF 8.7 42 -32 4.5 -1.0
TUSA First Trust Total US Market AlphaDEX ETF 8.5 70 -60 4.8 -0.7

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 S&P Small-Cap 600 ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.8 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 10 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.49
 
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.