VLUE
iShares MSCI USA Value Factor ETF
The iShares MSCI USA Value 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 value characteristics and relatively lower valuations, before fees and expenses.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
15 bp
EXPENSES
$7.1 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | iShares/USA |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 16, 2013 |
| Assets (mns) | $7,107 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| CISCO SYSTEMS INC | 5.5 % |
| AT&T INC | 5.3 % |
| INTEL CORP | 5.1 % |
| INTL BUSINESS MACHINES CORP | 3.6 % |
| GENERAL MOTORS CO | 3.2 % |
| APPLIED MATERIALS INC | 3.1 % |
| VERIZON COMMUNICATIONS INC | 3.0 % |
| PFIZER INC | 2.6 % |
| FORD MOTOR CO | 2.2 % |
| BANK OF AMERICA CORP | 2.1 % |
Constituent Breakdown
| Number of holdings | 149 |
| Herfindahl-Hirschman Index | 201 |
| Wgt avg mkt cap (mns) | $93,329 |
| Large cap (>$10bn) | 98.5% |
| Mid cap ($2-10bn) | 1.2% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.4 % |
 |
NETHERLANDS | 1.4 % |
 |
SWITZERLAND | 1.1 % |
 |
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 | 3.5% | 14.1% | 10.5% | 2.7% | 8.1% | 7.8% | 9.3% | Volatility | 11.8% | 12.7% | 17.3% | 17.4% | 23.2% | 19.3% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.93 | 79% |
| MSCI EAFE | 0.95 | 76% |
| MSCI Emg Mkts | 0.69 | 40% |
Liquidity Measures
| Avg. volume (000) | 268 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.02% |
| ADV of underlying (mns) | $63,813 |
Technical Indicators
| Recent close | $105.76 |
| 30d moving avg. | $105.10 |
| Annualized volatility | 19.0% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 2.5% |
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. VLUE |
Expenses vs. VLUE |
ALTAR Score™ vs. VLUE |
|---|---|---|---|---|
| SPVU | Invesco S&P 500 Enhanced Value ETF | 38.7% | -2 bp | -1.2% |
| DFLV | Dimensional US Large Cap Value ETF | 37.6% | +7 bp | -2.8% |
| DIVB | iShares Core Dividend ETF | 37.2% | -10 bp | -2.8% |
| IMCV | iShares Morningstar Mid-Cap Value ETF | 34.5% | -9 bp | -2.5% |
| ITAN | Sparkline Intangible Value ETF | 33.9% | +35 bp | -4.0% |
| RPV | Invesco S&P 500 Pure Value ETF | 32.8% | +20 bp | -0.7% |
| PWV | Invesco Large Cap Value ETF | 32.4% | +40 bp | -2.6% |
| FTA | First Trust Large Cap Value AlphaDEX Fund | 32.4% | +44 bp | -2.2% |
| STXV | Strive 1000 Value ETF | 31.5% | +3 bp | -2.9% |
| SPVM | Invesco S&P 500 Value with Momentum ETF | 31.3% | +24 bp | -2.2% |
Risk and Returns: VLUE 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
VLUE
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™
VLUE
10.6%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 10.6% |
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%. VLUE's ALTAR Score™ is approximately
2.0 standard deviations
above
the category average. This places VLUE in the 98th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
VLUE
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 |
| VLUE (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) |
|
|---|---|---|---|
| VLUE | 15.0 | 1.9 | 16.9 |
| Peer Avg. | 36.9 | 15.0 | 51.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .