SIZE
iShares MSCI USA Size Factor ETF
iShares MSCI USA Risk 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 relatively smaller average market capitalization, before fees and expenses.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
15 bp
EXPENSES
$307.0 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | iShares/USA |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 16, 2013 |
| Assets (mns) | $307 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Volatility |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| RIVIAN AUTOMOTIVE INC-A | 0.3 % |
| ALNYLAM PHARMACEUTICALS INC | 0.3 % |
| TEXAS PACIFIC LAND CORPORATION | 0.2 % |
| BURLINGTON STORES INC | 0.2 % |
| PALANTIR TECHNOLOGIES INC. CLASS A | 0.2 % |
| QORVO INC | 0.2 % |
| ROBLOX CORP. CLASS A | 0.2 % |
| SKYWORKS SOLUTIONS INC | 0.2 % |
| EXPEDIA GROUP INC | 0.2 % |
| BEST BUY CO INC | 0.2 % |
Constituent Breakdown
| Number of holdings | 600 |
| Herfindahl-Hirschman Index | 17 |
| Wgt avg mkt cap (mns) | $79,571 |
| Large cap (>$10bn) | 93.7% |
| Mid cap ($2-10bn) | 5.6% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.2% |
Country Exposure
 |
UNITED STATES | 94.1 % |
 |
IRELAND | 1.6 % |
 |
BRITAIN | 1.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.0% | 14.3% | 13.8% | 3.8% | 10.4% | 10.2% | 11.2% | Volatility | 11.7% | 12.9% | 18.3% | 18.0% | 22.6% | 18.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 91% |
| MSCI EAFE | 0.98 | 83% |
| MSCI Emg Mkts | 0.72 | 46% |
Liquidity Measures
| Avg. volume (000) | 4 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $531,344 |
Technical Indicators
| Recent close | $139.56 |
| 30d moving avg. | $138.88 |
| Annualized volatility | 18.7% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 2.9% |
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. SIZE |
Expenses vs. SIZE |
ALTAR Score™ vs. SIZE |
|---|---|---|---|---|
| EUSA | iShares MSCI USA Equal Weighted ETF | 96.8% | -6 bp | +0.1% |
| GSEW | Goldman Sachs Equal Weight U.S. Large Cap Equity ETF | 80.5% | -6 bp | +0.1% |
| RSP | Invesco S&P 500 Equal Weight ETF | 80.2% | +5 bp | +0.2% |
| CFA | VictoryShares US 500 Volatility Wtd ETF | 71.6% | +20 bp | 0.0% |
| CFO | VictoryShares US 500 Enhanced Volatility Wtd ETF | 71.6% | +25 bp | -0.1% |
| SSPY | Syntax Stratified LargeCap ETF | 61.0% | +15 bp | +0.6% |
| IMCB | iShares Morningstar Mid-Cap ETF | 59.8% | -11 bp | +0.3% |
| JHML | John Hancock Multifactor Large Cap ETF | 59.6% | +14 bp | -0.4% |
| FEX | First Trust Large Cap Core AlphaDEX Fund | 56.1% | +44 bp | +0.0% |
| IWR | iShares Russell Midcap ETF | 54.9% | +4 bp | -0.3% |
Risk and Returns: SIZE 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
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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
SIZE
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™
SIZE
6.0%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.0% |
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 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. SIZE's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places SIZE in the 54th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
SIZE
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| SIZE (15 bp) Percentile rank | 17 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SIZE | 15.0 | 7.0 | 22 |
| Peer Avg. | 29.1 | 14.0 | 43.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .