ESML
iShares ESG Aware MSCI USA Small-Cap ETF
The iShares MSCI USA Small-Cap ESG Optimized ETF tracks an index of small-cap companies with high environmental, social, and governance (ESG) factor scores as determined by MSCI.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.8 B
ASSETS UNDER MGMT
17 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 10, 2018 |
| Assets (mns) | $1,792 |
| Expense ratio | 17 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Principles-based |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| US FOODS HOLDING CORP. | 0.6 % |
| CASEY'S GENERAL STORES INC | 0.5 % |
| GUIDEWIRE SOFTWARE INC | 0.5 % |
| SPROUTS FARMERS MARKET INC | 0.4 % |
| COMFORT SYSTEMS USA INC | 0.4 % |
| UNUM GROUP | 0.4 % |
| JANUS HENDERSON GROUP PLC | 0.4 % |
| TECHNIPFMC PLC | 0.4 % |
| OVINTIV INC | 0.4 % |
| TAPESTRY, INC. | 0.4 % |
Constituent Breakdown
| Number of holdings | 908 |
| Herfindahl-Hirschman Index | 17 |
| Wgt avg mkt cap (mns) | $5,605 |
| Large cap (>$10bn) | 13.4% |
| Mid cap ($2-10bn) | 67.5% |
| Small cap (<$2bn) | 14.6% |
| Developed mkts. | 95.3% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 90.3 % |
 |
BRITAIN | 1.3 % |
 |
BERMUDA | 0.9 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -5.9% | 0.8% | 9.8% | 4.5% | 10.1% | -- | -- | 6.3% |
| Dividend Yield | 0.0% | 0.6% | 1.1% | 1.2% | 1.2% | -- | -- | 1.2% |
| Total Returns | -5.9% | 1.4% | 10.9% | 5.7% | 11.4% | -- | -- | 7.5% | Ann. Volatility | 29.2% | 23.9% | 21.1% | 22.2% | 22.4% | -- | -- | 24.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.16 | 76% |
| MSCI EAFE | 0.91 | 50% |
| MSCI Emg Mkts | 0.63 | 24% |
Liquidity Measures
| Avg. volume (000) | 129 |
| ADV traded (mns) | $5 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.11% |
Technical Indicators
| Recent close | $40.10 |
| 30d moving avg. | $39.25 |
| Annualized volatility | 22.2% |
| Relative strength (RSI) | 56 |
| Short interest | 0.1% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| ISCB | iShares Morningstar Small-Cap ETF | 63.4% | -13 bp | +6.5% |
| VB | Vanguard Small-Cap ETF | 57.3% | -12 bp | +6.5% |
| DFAS | Dimensional U.S. Small Cap ETF | 57.1% | +9 bp | +7.0% |
| BBMC | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 53.8% | -10 bp | +6.5% |
| SFYX | SoFi Next 500 ETF | 48.5% | -17 bp | +5.9% |
| VXF | Vanguard Extended Market ETF | 47.8% | -11 bp | +5.1% |
| ISCG | iShares Morningstar Small-Cap Growth ETF | 47.2% | -11 bp | +3.0% |
| SCHA | Schwab U.S. Small-Cap ETF | 46.7% | -13 bp | +6.6% |
| EZM | WisdomTree U.S. MidCap Fund | 45.3% | +21 bp | +9.7% |
| SCHM | Schwab U.S. Mid-Cap ETF | 45.2% | -13 bp | +7.1% |
Risk and Returns: 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 6/15/2025
Peer Group Comparison Sample data. Subscribe for access.
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
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 Rating
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™
6.3%
Cat. Avg
5.9%
ALTAR Score™ Calculation
Category Overview
There are 935 funds in the US Equity category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.3%. 's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places in the 56th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
ESMLSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| (17 bp) Percentile rank | 19 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 17.0 | 0.0 | 17 | |
| Peer Avg. | 32.1 | 15.3 | 47.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .