CSML
IndexIQ ETF Trust IQ U.S. Small Cap ETF
The IQ Chaikin U.S. Small Cap ETF tracks an equal-weighted index of small US companies selected by value, growth, technical, and sentiment factors.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
117.1 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | IndexIQ |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | May 15, 2017 |
| Assets (mns) | $117 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ADMA BIOLOGICS, INC. | 0.4 % |
| ZETA GLOBAL HOLDINGS CORP. CLASS A | 0.4 % |
| CAREER EDUCATION CORP | 0.4 % |
| MIRUM PHARMACEUTICALS, INC. | 0.4 % |
| DECIPHERA PHARMACEUTICALS, INC. | 0.4 % |
| HEARTLAND FINANCIAL USA INC | 0.3 % |
| LIGAND PHARMACEUTICALS-CL B | 0.3 % |
| ARGAN INC | 0.3 % |
| HAWAIIAN ELECTRIC INDS | 0.3 % |
| ENLIVEN THERAPEUTICS, INC. | 0.3 % |
Constituent Breakdown
| Number of holdings | 501 |
| Herfindahl-Hirschman Index | 26 |
| Wgt avg mkt cap (mns) | $2,602 |
| Large cap (>$10bn) | 1.2% |
| Mid cap ($2-10bn) | 49.2% |
| Small cap (<$2bn) | 49.3% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 104.3 % |
 |
BERMUDA | 1.2 % |
 |
IRELAND | 0.6 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 19.5% | 19.2% | 21.1% | 20.8% | 27.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 74% |
| MSCI EAFE | 0.99 | 66% |
| MSCI Emg Mkts | 0.69 | 32% |
Liquidity Measures
| Avg. volume (000) | 15 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $9,027 |
Technical Indicators
| Recent close | $34.95 |
| 30d moving avg. | $36.00 |
| Annualized volatility | 22.2% |
| Relative strength (RSI) | 47 |
| Short interest (ETF) | 0.6% |
| Short interest (underlying) | 5.4% |
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. CSML |
Expenses vs. CSML |
ALTAR Score™ vs. CSML |
|---|---|---|---|---|
| CSA | VictoryShares US Small Cap Volatility Wtd ETF | 43.9% | 0 bp | +2.0% |
| CSF | VictoryShares US Discovery Enhanced Volatility Wtd ETF | 43.8% | +7 bp | +1.9% |
| TPSC | Timothy Plan US Small Cap Core ETF | 42.4% | +17 bp | +2.4% |
| JPSE | JPMorgan Diversified Return U.S. Small Cap Equity ETF | 36.1% | -6 bp | +2.2% |
| FYX | First Trust Small Cap Core AlphaDEX Fund | 35.1% | +26 bp | +1.2% |
| AVSC | Avantis U.S Small Cap Equity ETF | 35.1% | -10 bp | +0.4% |
| EES | WisdomTree U.S. SmallCap Fund | 34.4% | +3 bp | +5.0% |
| QVMS | Invesco S&P SmallCap 600 QVM Multi-factor ETF | 33.6% | -20 bp | +3.2% |
| IJR | iShares Core S&P Small Cap ETF | 32.8% | -29 bp | +2.3% |
| XJR | iShares ESG Screened S&P Small-Cap ETF | 32.6% | -23 bp | +2.7% |
Risk and Returns: CSML 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 4/22/2024
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
CSML
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
CSML
4.5%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 949 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.5%. CSML's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places CSML in the 34th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
CSMLSELL
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 |
| CSML (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CSML | 35.0 | 18.0 | 53 |
| Peer Avg. | 29.9 | 13.9 | 43.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .