Vanguard S&P Small-Cap 600
ALTAR
Score™
5.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.0x P/Sales
ratio
0.9x
P/BV
ratio
1.7x Div.
yield
1.9%


  • 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 09, 2010
Assets (mns) $1,059
Currency USD
Expense ratio 15 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 607
Wgt avg mkt cap (mns) $1,828
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 42.1%
Small cap (<$2bn) 57.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CABOT MICROELECTRONICS CORP 0.6 %
MEDICINES COMPANY 0.5 %
ARROWHEAD PHARMACEUTICALS, INC. 0.5 %
FTI CONSULTING INC 0.5 %
MERCURY COMPUTER SYSTEMS INC 0.5 %
RLI CORP 0.5 %
GLACIER BANCORP INC 0.5 %
LHC GROUP INC 0.5 %
SOLAREDGE TECHNOLOGIES, INC. 0.5 %
DARLING INTERNATIONAL INC 0.5 %
Total 5.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
PUERTO RICO 0.7 %
BERMUDA 0.4 %
CAYMAN ISLANDS 0.3 %
BRITAIN 0.2 %
IRELAND 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.
15.7% 3.3% 8.8% -- 12.9%

Market Correlations
versus... Beta R-squared
S&P500 1.24 70%
MSCI EAFE 0.92 33%
MSCI Emg. Mkts. 0.50 16%

Technical Indicators
Recent close $148.65
30d moving avg. $144.20
Annualized volatility 17.9%
Short interest (ETF) 0.6%
Short interest (Underlying) 6.5%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 54
Turnover 0.8%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $7,696

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Vanguard S&P Small-Cap 600 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: 15 bp ALTAR Score™: 5.9%


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
(%)
SLY SPDR S&P 600 Small Cap 95.6 15 0 6.1 +0.2
IJR iShares Core S&P Small-Cap 95.3 7 8 6.1 +0.2
EWSC Invesco S&P Small Cap 600 Equal Weight 71.4 40 -25 5.7 -0.3
VIOV Vanguard S&P Small-Cap 600 Value 63.9 20 -5 7.3 +1.3
SLYV SPDR S&P600 Small Cap Value 62.6 15 0 7.4 +1.5
IJS iShares S&P 600 SmallCap Value 62.6 25 -10 7.3 +1.4
VIOG Vanguard S&P Small-Cap 600 Growth 61.8 20 -5 4.6 -1.4
IJT iShares S&P 600 SmallCap Growth 60.0 25 -10 4.6 -1.4
SLYG SPDR S&P600 Small Cap Growth 60.0 15 0 4.7 -1.2
RWJ Invesco S&P SmallCap 600 Revenue ETF 52.6 39 -24 4.9 -1.1
ISMD Inspire Small/Mid Cap Impact 48.6 61 -46 4.7 -1.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 46.6 29 -14 5.0 -1.0
CSF Compass EMP US Discovery 500 Enhanced Vol. 41.8 35 -20 7.2 +1.3
EES WisdomTree SmallCap Earnings 40.1 38 -23 9.2 +3.3
CSA Victory CEMP US Small Cap Volatility Wtd 40.0 35 -20 7.2 +1.2
DESC Xtrackers Russell 2000 Comprehensive Factor 40.0 30 -15 6.5 +0.6
FYX First Trust Small Cap Core Alphadex 39.1 66 -51 5.7 -0.3
IWN iShares Russell 2000 Value 39.0 24 -9 6.5 +0.6
VTWV Vanguard Russell 2000 Value 38.6 20 -5 6.5 +0.6
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 38.4 20 -5 5.8 -0.1

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
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 9.6 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.