iShares MSCI USA Value Factor
ALTAR
Score™
10.4% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.9x P/Sales
ratio
0.9x
P/BV
ratio
1.6x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The iShares MSCI USA Value Weighted Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of an index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations, before fees and expenses.

FUND BASICS
Category US Equities
Fund Sponsor iShares/USA
Website www.ishares.com
Inception date Apr 18, 2013
Assets (mns) $4,726
Currency USD
Expense ratio 15 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Fundamental
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 148
Wgt avg mkt cap (mns) $101,065
Large cap (>$10bn) 91.1%
Mid cap ($2-10bn) 8.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INTEL CORP 8.1 %
AT&T INC 7.9 %
MICRON TECHNOLOGY INC 3.6 %
INTL BUSINESS MACHINES CORP 3.5 %
BANK OF AMERICA CORP 3.3 %
CITIGROUP INC 2.9 %
PFIZER INC 2.5 %
GENERAL MOTORS CO 2.2 %
CVS CAREMARK CORP 1.9 %
WALGREENS BOOTS ALLIANCE INC 1.8 %
Total 37.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
IRELAND 4.2 %
BRITAIN 1.0 %
BERMUDA 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.
27.2% 27.2% 9.0% -- 11.3%

Market Correlations
versus... Beta R-squared
S&P500 1.15 90%
MSCI EAFE 1.06 63%
MSCI Emg. Mkts. 0.71 48%

Technical Indicators
Recent close $89.94
30d moving avg. $89.12
Annualized volatility 14.7%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.1%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 443
Turnover 0.8%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $25,435

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the iShares MSCI USA Value Factor ETF based on the alternatives' overlap in portfolio holdings with VLUE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VLUE Expense: 15 bp ALTAR Score™: 10.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VLUE
Ticker Fund
Name
Overlap1
vs VLUE
(%)
Expense
ratio
(bp)
Savings
vs VLUE
(bp)
ALTAR
Score™
(%)
ALTAR
vs VLUE
(%)
SPVU Invesco S&P 500 Value 47.6 13 2 10.2 -0.2
FTA First Trust Large Cap Value 35.7 62 -47 8.2 -2.2
OVLU Invesco Russell 1000 Value Factor ETF 35.0 19 -4 7.5 -2.9
VALQ American Century STOXX U.S. Quality Value 34.5 29 -14 8.7 -1.7
ULVM USAA MSCI USA Value Momentum Blend Index 34.4 20 -5 7.1 -3.4
JVAL JPMorgan U.S. Value Factor 34.0 12 3 8.2 -2.2
REVS Columbia Research Enhanced Value 33.9 19 -4 7.2 -3.2
RPV Invesco S&P 500 Pure Value ETF 33.7 35 -20 10.5 +0.1
ESGL Invesco ESG Revenue ETF 33.3 40 -25 7.6 -2.8
FVAL Fidelity Value Factor 33.1 29 -14 7.6 -2.8
PWV Invesco Dynamic Large Cap Value 33.0 55 -40 8.1 -2.3
JKF iShares Morningstar Large Value 32.7 25 -10 7.4 -3.0
DYNF BlackRock U.S. Equity Factor Rotation 31.8 30 -15 6.2 -4.2
RWL Invesco S&P 500 Revenue ETF 30.8 39 -24 7.2 -3.2
LRGF iShares FactorSelect MSCI USA 29.8 20 -5 6.7 -3.8
FLAG Forensic Accounting 29.2 152 -137 8.2 -2.3
VFVA Vanguard U.S. Value Factor 29.1 13 2 8.9 -1.5
VTV Vanguard Value ETF 28.4 4 11 6.9 -3.5
VLU SPDR S&P 1500 Value Tilt 28.4 12 3 7.1 -3.4
RNDV US Equity Dividend Select 28.2 50 -35 7.3 -3.1

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:
iShares MSCI USA Value Factor
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 10.4 %
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.