ISCF
iShares International SmallCap Equity Factor ETF
The iShares FactorSelect MSCI Intl Small-Cap ETF tracks an index of international small-cap firms. Stocks are selected and weighted to increase exposure to 4 factors (quality, value, momentum and small size) while maintaining similar characteristics of the MSCI World ex USA Small Cap Index.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
23 bp
EXPENSES
$540.4 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | BlackRock |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 28, 2015 |
| Assets (mns) | $540 |
| Expense ratio | 23 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| BANCO DE SABADELL SA | 0.7 % |
| LOGITECH INTERNATIONAL-REG | 0.6 % |
| VAT GROUP LTD | 0.6 % |
| BANK OF IRELAND GROUP PLC | 0.6 % |
| SWISSQUOTE GROUP HOLDING-REG | 0.6 % |
| BE SEMICONDUCTOR INDUSTRIES | 0.5 % |
| RENAULT SA | 0.4 % |
| BRITISH LAND CO PLC | 0.4 % |
| MAN GROUP PLC | 0.4 % |
| INTERMEDIATE CAPITAL GROUP PLC | 0.4 % |
Constituent Breakdown
| Number of holdings | 974 |
| Herfindahl-Hirschman Index | 18 |
| Wgt avg mkt cap (mns) | $2,624 |
| Large cap (>$10bn) | 4.9% |
| Mid cap ($2-10bn) | 42.6% |
| Small cap (<$2bn) | 52.2% |
| Developed mkts. | 99.9% |
| Emerging mkts. | 0.1% |
Country Exposure
 |
JAPAN | 19.8 % |
 |
BRITAIN | 13.3 % |
 |
CANADA | 8.3 % |
 |
SWITZERLAND | 6.1 % |
 |
AUSTRALIA | 5.7 % |
 |
FRANCE | 4.7 % |
 |
GERMANY | 4.1 % |
 |
SWEDEN | 2.9 % |
 |
SPAIN | 2.8 % |
 |
NETHERLANDS | 2.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -1.4% | 5.0% | 7.5% | -1.7% | 4.8% | -- | 5.5% | Volatility | 13.0% | 13.9% | 17.1% | 17.0% | 19.9% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 77% |
| MSCI EAFE | 1.04 | 97% |
| MSCI Emg Mkts | 0.80 | 58% |
Liquidity Measures
| Avg. volume (000) | 16 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.13% |
| ADV of underlying (mns) | $4,483 |
Technical Indicators
| Recent close | $32.75 |
| 30d moving avg. | $32.83 |
| Annualized volatility | 18.4% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
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. ISCF |
Expenses vs. ISCF |
ALTAR Score™ vs. ISCF |
|---|---|---|---|---|
| DFIS | Dimensional International Small Cap ETF | 29.6% | +16 bp | -2.4% |
| SCZ | iShares MSCI EAFE Small-Cap ETF | 26.3% | +17 bp | -2.6% |
| IEUS | iShares MSCI Europe Small-Cap ETF | 26.2% | +19 bp | -2.9% |
| SCHC | Schwab International Small-Cap Equity ETF | 25.0% | -12 bp | -2.5% |
| PDN | Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF | 22.6% | +26 bp | -2.3% |
| FNDC | Schwab Fundamental International Small Co. Index ETF | 22.1% | +16 bp | -1.8% |
| AVDV | Avantis International Small Cap Value ETF | 20.9% | +13 bp | -1.1% |
| VSS | Vanguard FTSE All-World ex-US Small-Cap ETF | 19.5% | -16 bp | -2.4% |
| DLS | WisdomTree International SmallCap Dividend Fund | 19.3% | +35 bp | -0.3% |
| DISV | Dimensional International Small Cap Value ETF | 19.0% | +19 bp | +0.0% |
Risk and Returns: ISCF 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 7/25/2024
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
ISCF
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™
ISCF
8.7%
Cat. Avg
7.2%
Fund Category: International
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 8.7% |
Recommendation
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.
Category Overview
There are 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. ISCF's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places ISCF in the 74th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ISCF
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| ISCF (23 bp) Percentile rank | 21 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ISCF | 23.0 | 13.2 | 36.2 |
| Peer Avg. | 33.7 | 17.7 | 51.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .