SMLF
iShares U.S. SmallCap Equity Factor ETF
The iShares FactorSelect MSCI USA Small-Cap ETF tracks an index of small-cap US equities. Stocks are selected and weighted to increase exposure to 4 factors (quality, value, momentum and size) while maintaining similar characteristics to the MSCI USA Small Cap Index.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.8 B
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 28, 2015 |
| Assets (mns) | $1,773 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| EMCOR GROUP INC | 0.8 % |
| NUTANIX, INC. CLASS A | 0.7 % |
| WILLIAMS-SONOMA INC | 0.6 % |
| SPROUTS FARMERS MARKET INC | 0.6 % |
| CARVANA CO. CLASS A | 0.6 % |
| JABIL CIRCUIT INC | 0.6 % |
| POPULAR INC | 0.6 % |
| RELIANCE STEEL & ALUMINUM | 0.5 % |
| INTERACTIVE BROKERS GRO-CL A | 0.5 % |
| ANTERO MIDSTREAM CORP. | 0.5 % |
Constituent Breakdown
| Number of holdings | 874 |
| Herfindahl-Hirschman Index | 24 |
| Wgt avg mkt cap (mns) | $7,137 |
| Large cap (>$10bn) | 25.4% |
| Mid cap ($2-10bn) | 57.5% |
| Small cap (<$2bn) | 16.0% |
| Developed mkts. | 99.2% |
| Emerging mkts. | 0.8% |
Country Exposure
 |
UNITED STATES | 91.3 % |
 |
ISRAEL | 1.7 % |
 |
PUERTO RICO | 1.1 % |
 |
BRITAIN | 1.1 % |
 |
BERMUDA | 1.0 % |
 |
IRELAND | 0.8 % |
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -1.3% | 9.9% | 12.6% | 8.4% | 13.5% | -- | 10.0% | Volatility | 17.5% | 17.9% | 18.5% | 21.1% | 25.7% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.16 | 76% |
| MSCI EAFE | 1.02 | 59% |
| MSCI Emg Mkts | 0.71 | 29% |
Liquidity Measures
| Avg. volume (000) | 339 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.16% |
| ADV of underlying (mns) | $36,073 |
Technical Indicators
| Recent close | $63.55 |
| 30d moving avg. | $64.99 |
| Annualized volatility | 22.8% |
| Relative strength (RSI) | 40 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 5.3% |
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. SMLF |
Expenses vs. SMLF |
ALTAR Score™ vs. SMLF |
|---|---|---|---|---|
| BBMC | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 48.8% | -8 bp | +0.3% |
| VB | Vanguard Small-Cap ETF | 47.5% | -10 bp | -0.2% |
| ISCB | iShares Morningstar Small-Cap ETF | 45.3% | -11 bp | -0.3% |
| ESML | iShares ESG Aware MSCI USA Small-Cap ETF | 43.3% | +2 bp | -0.3% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 42.0% | +9 bp | +1.2% |
| IJH | iShares Core S&P Mid-Cap ETF | 41.9% | -10 bp | +1.4% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 41.6% | -12 bp | +1.4% |
| JMEE | JPMorgan Market Expansion Enhanced Equity ETF | 41.6% | +9 bp | +1.7% |
| DFAS | Dimensional U.S. Small Cap ETF | 41.5% | +11 bp | +1.0% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 41.4% | -5 bp | +1.4% |
Risk and Returns: SMLF 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/2/2025
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
SMLF
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
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.
ALTAR Score™
SMLF
6.0%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 953 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.8%. SMLF's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places SMLF in the 54th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SMLFSELL
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 |
| SMLF (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) |
|
|---|---|---|---|
| SMLF | 15.0 | 15.8 | 30.8 |
| Peer Avg. | 32.0 | 15.0 | 47.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .