SMMV
iShares MSCI USA Small-Cap Min Vol Factor ETF
The iShares Edge MSCI Min Vol USA Small-Cap ETF tracks an index of US-listed small capitalization stocks selected and weighted to create a low volatility portfolio, subject to constraints including sector exposure.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
320.9 M
ASSETS UNDER MGMT
20 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 07, 2016 |
| Assets (mns) | $321 |
| Expense ratio | 20 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| EXELIXIS INC | 1.7 % |
| MURPHY USA, INC. | 1.6 % |
| OLD REPUBLIC INTL CORP | 1.6 % |
| APTARGROUP INC | 1.5 % |
| AGREE REALTY CORP | 1.5 % |
| ROYAL GOLD INC | 1.4 % |
| AXIS CAPITAL HOLDINGS LTD | 1.3 % |
| CHEMED CORP | 1.3 % |
| RLI CORP | 1.2 % |
| HEALTHEQUITY INC | 1.2 % |
Constituent Breakdown
| Number of holdings | 290 |
| Herfindahl-Hirschman Index | 69 |
| Wgt avg mkt cap (mns) | $6,166 |
| Large cap (>$10bn) | 21.7% |
| Mid cap ($2-10bn) | 63.8% |
| Small cap (<$2bn) | 13.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 91.2 % |
 |
BERMUDA | 2.9 % |
 |
IRELAND | 1.3 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 15.9% | 28.0% | 10.8% | 4.3% | 5.2% | -- | 8.4% | Volatility | 11.3% | 11.7% | 12.3% | 14.2% | 19.2% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.68 | 73% |
| MSCI EAFE | 0.65 | 69% |
| MSCI Emg Mkts | 0.44 | 31% |
Liquidity Measures
| Avg. volume (000) | 32 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.11% |
| ADV of underlying (mns) | $10,072 |
Technical Indicators
| Recent close | $42.50 |
| 30d moving avg. | $40.89 |
| Annualized volatility | 13.9% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 4.8% |
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. SMMV |
Expenses vs. SMMV |
ALTAR Score™ vs. SMMV |
|---|---|---|---|---|
| HSMV | First Trust Horizon Managed Volatility Small/Mid ETF | 34.4% | +60 bp | +1.8% |
| SIXL | ETC 6 Meridian Low Beta Equity ETF | 33.8% | +60 bp | +0.3% |
| PAMC | Pacer Lunt MidCap Multi-Factor Alternator ETF | 29.2% | +40 bp | +2.3% |
| XMLV | Invesco S&P MidCap Low Volatility ETF | 29.1% | +5 bp | +2.6% |
| FSMD | Fidelity Small-Mid Multifactor ETF | 23.3% | -5 bp | +2.8% |
| OUSM | ALPS O'Shares US Small-Cap Quality Dividend ETF | 20.5% | +28 bp | +1.2% |
| ISCG | iShares Morningstar Small-Cap Growth ETF | 20.2% | -14 bp | -1.7% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 20.0% | +4 bp | +2.2% |
| IJH | iShares Core S&P Mid-Cap ETF | 20.0% | -15 bp | +2.4% |
| QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 19.8% | -5 bp | +2.7% |
Risk and Returns: SMMV 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 11/15/2024
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
SMMV
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™
SMMV
4.0%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. SMMV's ALTAR Score™ is approximately
0.6 standard deviations
below
the category average. This places SMMV in the 28th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SMMVSELL
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 |
| SMMV (20 bp) Percentile rank | 21 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SMMV | 20.0 | 10.8 | 30.8 |
| Peer Avg. | 29.7 | 13.9 | 43.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .