IWC ishares Micro-Cap ETF

Transcription

1 ishares Micro-Cap ETF ETF.com segment: Equity: U.S. - Micro Cap Competing ETFs: FDM, PZI, WMCR Related ETF Channels: North America, U.S., Micro-cap, Vanilla, Equity, Size and Style, Broad-based Find more ETFs with our ETF Screener and Database *Unless otherwise stated, data provided by FactSet. B 79 FUND DESCRIPTION tracks a market-cap-weighted index of U.S. micro-cap stocks. The index selects the smallest 1000 stocks in the Russell 2000 Index. FACTSET ANALYTICS INSIGHT offers size and liquidity in a segment where both of those elements are wanting. It takes a plain vanilla, market-cap-weighted view of the micro-cap segment. From our perspective, however, it skews large, putting a lot of weight in companies we consider small-caps. Its beta indicates that the fund is relatively volatile compared with the broad US micro-cap market. Still, it provides decent coverage of the space overall. The real draw for is its liquidity: retail traders will find a fund that trades in high volume each day at thin spreads, and block liquidity is excellent for larger investors. The catch is that charges a rather high, but competitive, fee for the micro-cap space. Holdings costs are likely to be lower, however, thanks to smart management that recovers a sizeable chunk of the fund's expense ratio. SUMMARY DATA Issuer Brand Inception Date Legal Structure Expense Ratio Assets Under Management Average Daily $ Average Spread (%) PORTFOLIO DATA Weighted Average Price / Earnings Ratio Price / Book Ratio Distribution Yield Next Ex-Dividend Date Number of Holdings BlackRock ishares 08/12/05 Open-Ended Fund 0.60% $904.08M $6.85M 0.33% $616.26M % 03/20/ INDEX DATA Index Tracked Index Weighting Methodology Index Selection Methodology Russell Microcap MSCI USA Micro Cap Index

2 1 Year Daily Price ($) Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec `19 400k PERFORMANCE [as of 01/11/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS 0.23% -8.09% 7.62% -9.72% 11.81% 4.12% 11.76% (NAV) 0.82% -7.83% 8.26% -9.30% 11.97% 4.24% 12.49% Russell Microcap 0.84% -7.79% 8.27% -9.25% 12.06% 4.29% 12.49% MSCI USA Micro Cap Index 0.29% % 8.72% % 10.61% 2.86% -- All returns over 1 year are annualized. All returns are total returns unless otherwise stated. TOP 10 COUNTRIES United States Canada 99.82% 0.18% TOP 10 SECTORS Financials 27.23% Energy 4.19% Healthcare 20.67% Basic Materials 3.90% Industrials 12.54% Consumer Non-Cyclicals 3.77% Consumer Cyclicals 11.73% Utilities 1.40% Technology 8.94% Telecommunications Serv 1.15% TOP 10 HOLDINGS Tandem Diabetes Care, In 0.61% Arrowhead Pharmaceutic 0.37% Crocs, Inc. 0.58% Vocera Communications, Vanda Pharmaceuticals In 0.42% Mirati Therapeutics Inc. STAAR Surgical Company 0.40% Casella Waste Systems, I Reata Pharmaceuticals, In 0.38% NMI Holdings, Inc. Class A Total Top 10 Weighting 4.14%

3 PORTFOLIO MANAGEMENT TAX EXPOSURES FUND STRUCTURE Expense Ratio Median Tracking Difference (12 Mo) Max. Upside Deviation (12 Mo) Max. Downside Deviation (12 Mo) 0.60% -0.11% 0.06% -0.38% Max LT/ST Capital Gains Rate Capital Gains Distributions (3 Year) Tax on Distributions Distributes K % / 39.60% -- Qualified dividends No Legal Structure OTC Derivative Use Securities Lending Active Securities Lending Split (Fund/Issuer) ETN Counterparty Open-Ended Fund No Yes 72% / 29% N/A ETN Counterparty Risk N/A Fund Closure Risk Low Portfolio Disclosure Daily

4 Daily Spread 0.8% FACTSET ANALYTICS BLOCK LIQUIDITY As of 01/14/19 0.6% 0.4% 0.2% 0% This measurement shows how easy it is to trade a $1 million USD block of. is rated a 5 out of 5. Premium/Discount 1.0% TRADABILITY Avg. Daily Share 79, % Average Daily $ $6.85M 0.0% Median Daily Share 50, % 300k 250k 200k 150k 100k 50k Median Daily ($) Average Spread (%) Average Spread ($) $4.63M 0.33% $0.29 Feb Apr Jun Aug Oct Nov `19 Median Premium / Discount (12 Mo) 0.02% Max. Premium / Discount (12 Mo) 0.51% / -0.49% Impediment to Creations None Market Hours Overlap % Creation Unit Size (Shares) 50,000 Creation Unit/Day (45 Day Average) 1.01 Creation Unit Cost (%) 0.07% Underlying / Unit Open Interest on ETF Options 249 Net Asset Value (Yesterday) $89.17 ETF.com Implied Liquidity 5

5 SECTOR/INDUSTRY BREAKDOWN TOP 10 HOLDINGS PERFORMANCE STATISTICS Financials 27.23% 27.98% Healthcare 20.67% 18.14% Industrials 12.54% 9.91% Consumer Cyclicals 11.73% 8.43% Technology 8.94% 11.27% Tandem Diabetes Care, Inc. Crocs, Inc. Vanda Pharmaceuticals Inc. STAAR Surgical Company Reata Pharmaceuticals, Inc. Class A Arrowhead Pharmaceuticals, Inc. Vocera Communications, Inc. Mirati Therapeutics Inc. 0.61% 0.58% 0.42% 0.40% 0.38% 0.37% Goodness of Fit (R2) Beta Up Beta Down Beta Downside Standard Deviation % MSCI USA Micro Cap Index Energy 4.19% 4.17% Casella Waste Systems, Inc. Class A Basic Materials Consumer Non- Cyclicals 3.90% 2.71% 3.77% 2.47% NMI Holdings, Inc. Class A Total Top 10 Weighting 4.14% BENCHMARK COMPARISON HOLDINGS Number of Holdings Constituents Utilities 1.40% 1.31% Shared Holdings 739 Telecommunications Services 1.15% 0.22% Shared Holdings Weight 27.58% COUNTRIES United States 99.82% 99.93% Canada 0.18% 0.07% BENCHMARK COMPARISON SUMMARY Number of Holdings REGIONS North America % % ECONOMIC DEVELOPMENT Weighted Average Market Cap Price / Earnings Ratio Price / Book Ratio $616.26M $240.87M Dividend Yield 1.20% 1.13% Developed Countries % % Concentration Low Low 2019 ETF.com The data and information contained herein is not intended to be investment or tax advice. A reference to a particular investment or security, a credit rating, or any observation concerning a security or investment provided in the ETF.com Service is not a recommendation to buy, sell, or hold such investment or security or to make any other investment decisions. You should not use such information for purposes of any actual transaction without consulting an investment or tax professional. ETF.com DOES NOT TAKE RESPONSIBILITY FOR YOUR INVESTMENT OR OTHER ACTIONS NOR SHALL ETF.com HAVE ANY LIABILITY, CONTINGENT OR OTHERWISE, FOR THE ACCURACY, COMPLETENESS, TIMELINESS, OR CORRECT SEQUENCING OF ANY INFORMATION PROVIDED BY ETF.com OR FOR ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE UPON SUCH INFORMATION OR ETF.com. [ETF.com DOES NOT PROVIDE ANY RESEARCH OPINIONS.] ETF.com MAKES NO REPRESENTATIONS ABOUT THE SUITABILITY OF THE INFORMATION, PRODUCTS OR SERVICES CONTAINED HEREIN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Data provider: Terms of Use