US small cap value: Difference between revisions
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This page presents a selection of '''{{PAGENAME}}''' [[Indexing|index]] funds and [[ETF|exchange traded funds]]. | This page presents a selection of '''{{PAGENAME}}''' [[Indexing|index]] funds and [[ETF|exchange traded funds]]. | ||
==Selection== | ==Selection== | ||
Most indexes are market-cap weighted and hold a subset of the target small-cap index. However, the "pure value" indexes weight the value stocks by a measure of their value characteristic, which is why they have much lower market caps (bordering on micro-cap) and price/book ratios. (Note that funds report portfolios on different dates; the S&P 600 Value ETFs should all have the same holdings, even though they have different reported market caps and price/book ratios.) | |||
{| class=wikitable style="text-align:left" width=770px | {| class=wikitable style="text-align:left" width=770px | ||
|+ '''Selected funds'''<ref>As of July 8, 2020.</ref> | |||
! Ticker<br>Symbol | ! Ticker<br>Symbol | ||
! Name | ! Name | ||
! [[Expense Ratios |Expense | ! [[Expense Ratios |Expense Ratio]] | ||
! Average<br>Volume | ! Average<br>Volume | ||
! Average<br>Mkt Cap | ! Average<br>Mkt Cap | ||
! P/B | ! P/B | ||
! Total<br>Assets | ! Total<br>Assets | ||
|- | |||
| VBR || [https://advisors.vanguard.com/investments/products/vbr/vanguard-small-cap-value-etf Vanguard Small-Cap Value ETF] | |||
| align="right" | 0.07% | |||
| align="right" | 782,844<br>(50-day) | |||
| align="right" | $3.3B (median) | |||
| align="right" | 1.3 | |||
| align="right" | $12.4B | |||
|- | |- | ||
| | | JKL || [https://www.ishares.com/us/products/239588/ishares-morningstar-smallcap-value-etf iShares Morningstar Small Value Index ETF] | ||
| align="right" | 0. | | align="right" | 0.30% | ||
| align="right" | | | align="right" | 11,183.90<br> (20-day) | ||
| align="right" | | | align="right" | --- | ||
| align="right" | 1. | | align="right" | 1.00 | ||
| align="right" | $ | | align="right" | $241M | ||
|- | |- | ||
| | | SLYV || [https://www.ssga.com/us/en/individual/etfs/funds/spdr-sp-600-small-cap-value-etf-slyv SPDR S&P Small-Cap 600 Value ETF] | ||
| align="right" | 0.15% | | align="right" | 0.15% | ||
| align="right" | | | align="right" | 29,428<br>(1-day) | ||
| align="right" | $ | | align="right" | $1,380.58M | ||
| align="right" | | | align="right" | 0.96 | ||
| align="right" | $1, | | align="right" | $1,865M | ||
|- | |- | ||
| | | VIOV || [https://advisors.vanguard.com/investments/products/viov/vanguard-sp-small-cap-600-value-etf S&P Small-Cap 600 Value ETF] | ||
| align="right" | 0. | | align="right" | 0.15% | ||
| align="right" | | | align="right" | 54,417<br>(50-day) | ||
| align="right" | $ | | align="right" | $1.2B (median) | ||
| align="right" | 1. | | align="right" | 1.0 | ||
| align="right" | $ | | align="right" | $409.4M | ||
|- | |- | ||
| IJS || [ | | IJS || [https://www.ishares.com/us/products/239775/ishares-sp-smallcap-600-value-etf iShares S&P Small-Cap 600 Value Index] | ||
| align="right" | 0.25% | | align="right" | 0.25% | ||
| align="right" | | | align="right" | 293,938.70<br>(20-day) | ||
| align="right" | | | align="right" | --- | ||
| align="right" | 1. | | align="right" | 1.02 | ||
| align="right" | $ | | align="right" | $4,468M | ||
|- | |- | ||
| | | VTWV || [https://advisors.vanguard.com/investments/products/vtwv/vanguard-russell-2000-value-etf Vanguard Russell 2000 Value ETF] | ||
| align="right" | 0. | | align="right" | 0.15% | ||
| align="right" | | | align="right" | 40,501<br>(50-day) | ||
| align="right" | $1 | | align="right" | $1.6B (median) | ||
| align="right" | 1. | | align="right" | 1.0 | ||
| align="right" | $ | | align="right" | $409.4M | ||
|- | |- | ||
| | | IWN || [https://www.ishares.com/us/products/239712/ishares-russell-2000-value-etf iShares Russell 2000 Value Index] | ||
| align="right" | 0. | | align="right" | 0.24% | ||
| align="right" | | | align="right" | 1,330,621<br>(20-day) | ||
| align="right" | $ | | align="right" | --- | ||
| align="right" | 0.99 | |||
| align="right" | $7,18B | |||
|- | |||
| XSVM || [https://www.invesco.com/portal/site/us/investors/etfs/product-detail?productId=PXSV PowerShares Russell 2000 Pure Value ETF]<ref>Replaces PXSV (Invesco Russell 2000 Pure Value ETF) as of March 11, 2019 [https://www.invesco.com/us-rest/contentdetail?contentId=0cdecfedc0a69610VgnVCM1000006e36b50aRCRD&dnsName=us&audienceType=investors - Invesco ETF Index Change 3.11.19-final].</ref> | |||
| align="right" | 0.44% | |||
| align="right" | 19,174<br>(30-day) | |||
| align="right" | $954MM | |||
| align="right" | 0.8 | | align="right" | 0.8 | ||
| align="right" | $ | | align="right" | $60.3MM | ||
|- | |- | ||
| | | RZV || [https://www.invesco.com/us/financial-products/etfs/product-detail?ticker=RZV Invesco S&P Small-Cap 600 Pure Value ETF] | ||
| align="right" | 0.35% | |||
| align="right" | 17,917<br>(30-day) | |||
| align="right" | $772MM | |||
| align="right" | 0.54 | |||
| align="right" | $89.9MM | |||
| align="right" | 0. | |||
| align="right" | | |||
| align="right" | $ | |||
| align="right" | 0. | |||
| align="right" | $ | |||
|} | |} | ||
{{Reflist}} | |||
Small cap value ETFs based on [[Alternate Indexes]] include [http://quote.morningstar.com/etf/f.aspx?t=PWY®ion=USA PowerShares Dynamic Small Cap Value (PWY)] and [http://quote.morningstar.com/ETF/f.aspx?t=EES WisdomTree SmallCap Earnings (EES)]. | Small cap value ETFs based on [[Alternate Indexes]] include [http://quote.morningstar.com/etf/f.aspx?t=PWY®ion=USA PowerShares Dynamic Small Cap Value (PWY)] and [http://quote.morningstar.com/ETF/f.aspx?t=EES WisdomTree SmallCap Earnings (EES)]. |
Revision as of 10:55, 7 February 2021
This page presents a selection of US small cap value index funds and exchange traded funds.
Selection
Most indexes are market-cap weighted and hold a subset of the target small-cap index. However, the "pure value" indexes weight the value stocks by a measure of their value characteristic, which is why they have much lower market caps (bordering on micro-cap) and price/book ratios. (Note that funds report portfolios on different dates; the S&P 600 Value ETFs should all have the same holdings, even though they have different reported market caps and price/book ratios.)
Ticker Symbol |
Name | Expense Ratio | Average Volume |
Average Mkt Cap |
P/B | Total Assets |
---|---|---|---|---|---|---|
VBR | Vanguard Small-Cap Value ETF | 0.07% | 782,844 (50-day) |
$3.3B (median) | 1.3 | $12.4B |
JKL | iShares Morningstar Small Value Index ETF | 0.30% | 11,183.90 (20-day) |
--- | 1.00 | $241M |
SLYV | SPDR S&P Small-Cap 600 Value ETF | 0.15% | 29,428 (1-day) |
$1,380.58M | 0.96 | $1,865M |
VIOV | S&P Small-Cap 600 Value ETF | 0.15% | 54,417 (50-day) |
$1.2B (median) | 1.0 | $409.4M |
IJS | iShares S&P Small-Cap 600 Value Index | 0.25% | 293,938.70 (20-day) |
--- | 1.02 | $4,468M |
VTWV | Vanguard Russell 2000 Value ETF | 0.15% | 40,501 (50-day) |
$1.6B (median) | 1.0 | $409.4M |
IWN | iShares Russell 2000 Value Index | 0.24% | 1,330,621 (20-day) |
--- | 0.99 | $7,18B |
XSVM | PowerShares Russell 2000 Pure Value ETF[2] | 0.44% | 19,174 (30-day) |
$954MM | 0.8 | $60.3MM |
RZV | Invesco S&P Small-Cap 600 Pure Value ETF | 0.35% | 17,917 (30-day) |
$772MM | 0.54 | $89.9MM |
- ↑ As of July 8, 2020.
- ↑ Replaces PXSV (Invesco Russell 2000 Pure Value ETF) as of March 11, 2019 - Invesco ETF Index Change 3.11.19-final.
Small cap value ETFs based on Alternate Indexes include PowerShares Dynamic Small Cap Value (PWY) and WisdomTree SmallCap Earnings (EES).
See also
External links
Resources
Forum discussions
- Which SCV ETF to pair with TSM?
- Persistence of the value premium
- Small value in taxable (includes factor loading estimates by Robert T)