CSML
IQ Chaikin U.S. Small Cap ETF
The IQ Chaikin U.S. Small Cap ETF tracks an equal-weighted index of small US companies selected by value, growth, technical, and sentiment factors.
Fund Basics
| Fund sponsor | IndexIQ |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | May 15, 2017 |
| Assets (mns) | $177 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ISHARES CORE S&P SMALL CAP ETF | 0.8 % |
| IMMUNITYBIO INC | 0.5 % |
| UNITED STATES CELLULAR CORP | 0.4 % |
| IMMUNOVANT INC | 0.4 % |
| FORESTAR GROUP INC. | 0.4 % |
| NATIONAL WESTERN LIFE GROUP, INC. CLASS | 0.4 % |
| BOISE CASCADE CO | 0.4 % |
| ALKAMI TECHNOLOGY INC | 0.4 % |
| BRIDGEBIO PHARMA, INC. | 0.4 % |
| STERLING CONSTRUCTION CO | 0.3 % |
Constituent Breakdown
| Number of holdings | 495 |
| Herfindahl-Hirschman Index | 24 |
| Wgt avg mkt cap (mns) | $1,937 |
| Large cap (>$10bn) | 1.6% |
| Mid cap ($2-10bn) | 37.4% |
| Small cap (<$2bn) | 61.1% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.4 % |
 |
BERMUDA | 0.8 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 2.4% | -3.2% | -3.0% | 7.9% | 6.1% | -- | 5.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 67% |
| MSCI EAFE | 0.95 | 62% |
| MSCI Emg Mkts | 0.66 | 34% |
Liquidity Measures
| Avg. volume (000) | 8 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $4,002 |
Technical Indicators
| Recent close | $32.98 |
| 30d moving avg. | $30.32 |
| Annualized volatility | 20.4% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 5.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. CSML |
Expenses vs. CSML |
ALTAR Score™ vs. CSML |
|---|---|---|---|---|
| CSA | VictoryShares US Small Cap Volatility Weighted Index ETF | 42.5% | 0 bp | +2.2% |
| TPSC | Timothy Plan US Small Cap Core ETF | 37.2% | +17 bp | +2.4% |
| EES | WisdomTree SmallCap Earnings Fund | 35.8% | +3 bp | +5.4% |
| PSC | Principal U.S. Small Cap Index ETF | 35.1% | +3 bp | +2.8% |
| GSSC | Goldman Sachs Activebeta U.S. Small Cap Equity ETF | 34.8% | -15 bp | +1.4% |
| SMLV | SPDR SSGA US Small Cap Low Volatility Index ETF | 34.5% | -23 bp | +2.2% |
| JPSE | JPMorgan Diversified Return U.S. Small Cap Equity ETF | 34.0% | -6 bp | +2.7% |
| AVSC | Avantis U.S Small Cap Equity ETF | 33.9% | -10 bp | -0.2% |
| FYX | First Trust Small Cap Core AlphaDEX Fund | 33.2% | +26 bp | +2.8% |
| DES | WisdomTree U.S. SmallCap Dividend Fund | 33.1% | +3 bp | +4.0% |
Risk and Returns: CSML vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/6/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
CSML
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
CSML
5.6%
Cat. Avg
6.1%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.6% |
Recommendation
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.
Category Overview
There are 896 funds in the US Equities category, with an average ALTAR Score™
of 6.1% and a standard deviation of
3.0%. CSML's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places CSML in the 44th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
CSML
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CSML | 35.0 | 18.0 | 53 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .