VBR
Vanguard Small Cap Value ETF
Vanguard Small-Cap Value ETF seeks to track the performance of the MSCI US Small Cap Value Index.
US
EQUITY
Passive
MANAGEMENT STYLE
7 bp
EXPENSES
$28.9 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Vanguard Group Inc/The |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 26, 2004 |
| Assets (mns) | $28,884 |
| Expense ratio | 7 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Delayed |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| BOOZ ALLEN HAMILTON HOLDINGS | 0.6 % |
| CARLISLE COS INC | 0.6 % |
| FIRST CITIZENS BCSHS -CL A | 0.6 % |
| BUILDERS FIRSTSOURCE INC | 0.6 % |
| REGAL BELOIT CORP | 0.6 % |
| RELIANCE STEEL & ALUMINUM | 0.5 % |
| ATMOS ENERGY CORP | 0.5 % |
| EMCOR GROUP INC | 0.5 % |
| NRG ENERGY INC | 0.5 % |
| UNITED THERAPEUTICS CORP | 0.5 % |
Constituent Breakdown
| Number of holdings | 866 |
| Herfindahl-Hirschman Index | 22 |
| Wgt avg mkt cap (mns) | $7,477 |
| Large cap (>$10bn) | 27.7% |
| Mid cap ($2-10bn) | 62.6% |
| Small cap (<$2bn) | 9.1% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 93.2 % |
 |
BERMUDA | 1.4 % |
 |
BRITAIN | 1.2 % |
 |
IRELAND | 0.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 2.5% | 13.5% | 13.3% | 4.1% | 9.3% | 7.8% | 8.9% | Volatility | 14.7% | 16.5% | 20.0% | 20.4% | 26.2% | 21.1% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 75% |
| MSCI EAFE | 1.02 | 74% |
| MSCI Emg Mkts | 0.72 | 38% |
Liquidity Measures
| Avg. volume (000) | 447 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.06% |
| ADV of underlying (mns) | $67,951 |
Technical Indicators
| Recent close | $193.74 |
| 30d moving avg. | $185.28 |
| Annualized volatility | 20.6% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 4.9% |
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. VBR |
Expenses vs. VBR |
ALTAR Score™ vs. VBR |
|---|---|---|---|---|
| ISCV | iShares Morningstar Small Cap Value ETF | 56.7% | -1 bp | -0.2% |
| VB | Vanguard Small-Cap ETF | 56.3% | -2 bp | -2.6% |
| BBMC | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 51.6% | 0 bp | -2.2% |
| ISCB | iShares Morningstar Small-Cap ETF | 51.4% | -3 bp | -2.7% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 49.8% | +3 bp | -1.2% |
| IJH | iShares Core S&P Mid-Cap ETF | 49.2% | -2 bp | -1.2% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 49.2% | +16 bp | -1.3% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 49.1% | -4 bp | -1.2% |
| QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 47.9% | +8 bp | -0.9% |
| DFAS | Dimensional U.S. Small Cap ETF | 47.0% | +19 bp | -2.1% |
Risk and Returns: VBR 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
VBR
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™
VBR
7.8%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.8% |
Recommendation
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.
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%. VBR's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places VBR in the 80th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
VBR
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| VBR (7 bp) Percentile rank | 18 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VBR | 7.0 | 5.9 | 12.9 |
| Peer Avg. | 20.8 | 9.5 | 30.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .