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iShares MSCI USA Quality GARP ETF

ETF
GARP
Payout Change
Pending
Price as of:
$54.6 +0.6 +1.11%
primary theme
N/A
GARP (ETF)

iShares MSCI USA Quality GARP ETF

Payout Change
Pending
Price as of:
$54.6 +0.6 +1.11%
primary theme
N/A
GARP (ETF)

iShares MSCI USA Quality GARP ETF

Payout Change
Pending
Price as of:
$54.6 +0.6 +1.11%
primary theme
N/A

Name

As of 10/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

iShares MSCI USA Quality GARP ETF

GARP | ETF

$54.60

$47.4 M

0.53%

$0.29

0.15%

Vitals

YTD Return

31.7%

1 yr return

48.3%

3 Yr Avg Return

13.6%

5 Yr Avg Return

N/A

Net Assets

$47.4 M

Holdings in Top 10

47.9%

52 WEEK LOW AND HIGH

$54.0
$47.04
$54.60

Expenses

OPERATING FEES

Expense Ratio 0.15%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 10/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

iShares MSCI USA Quality GARP ETF

GARP | ETF

$54.60

$47.4 M

0.53%

$0.29

0.15%

GARP - Profile

Distributions

  • YTD Total Return 31.7%
  • 3 Yr Annualized Total Return 13.6%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    iShares MSCI USA Quality GARP ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Jan 14, 2020
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund seeks to track the investment results of the MSCI USA Quality GARP Select Index (the “Underlying Index”), which was developed by MSCI Inc. (the “Index Provider” or “MSCI”). The Underlying Index is a subset of the MSCI USA Index (the “Parent Index”), which is designed to measure the performance of the large- and mid-capitalization segments of the U.S. equity market, as defined by the Index Provider. The Underlying Index’s “growth at a reasonable price” or “GARP” strategy seeks to measure the performance of securities in the Parent Index that exhibit stronger growth characteristics, with weighting based on relatively favorable value and quality characteristics.
The Index Provider begins by calculating a “growth score” for each security in the Parent Index using five metrics: long-term forward earnings per share (“EPS”) growth rate; short-term forward EPS growth rate; current internal growth rate (based on return on equity and dividend payout metrics); long-term historical EPS growth trend; and long-term
historical sales per share growth trend. The Index Provider then selects securities with higher growth scores until approximately 50% of the aggregate market capitalization of the Parent Index is reached, subject to certain constraints.
The process for weighting the selected securities in the Underlying Index involves calculating a “tilt score” for each security. Two components of the tilt score are value and quality scores, which are calculated for each security relative to its peers within the corresponding Global Industry Classification Standards sector. The value score is based on three metrics: price-to-book value, forward price-to-earnings ratio, and the ratio of enterprise value to cash flow from operations. The quality score is based on three metrics: return on equity (i.e., the trailing 12-month EPS divided by the most recently reported book value per share), debt-to-equity ratio, and earnings variability.
A security’s tilt score is based on the following:
• whether the security is in the top 50% or bottom 50% of the cumulative weight of the selected securities calculated using free float-adjusted market capitalization;
• whether the security’s value score is in the top 50% or bottom 50% of the scores of the selected securities; and
• the particular quartile in which the security’s quality score falls.
Tilt scores are generally lower for securities with larger market capitalizations and higher for securities with more favorable value and quality scores. To determine a security’s weight in the Underlying Index, its tilt score is multiplied by the security’s market capitalization weight in the Parent Index. The maximum weight of any individual
issuer is 5%. The Index Provider also applies constraints on turnover and on sector weights after the tilt score is applied, relative to the sector weights of the Underlying Index before the tilt score is applied (i.e., with sector weights based on the free float-adjusted market capitalization of the selected securities). The Underlying Index is rebalanced on a quarterly basis.
As of May 1, 2024, the Underlying Index consisted of 170 component securities. As of May 1, 2024, a significant portion of the Underlying Index is represented by securities of companies in the consumer discretionary and technology industries or sectors. The components of the Underlying Index are likely to change over time.
BFA uses an indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.
Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnover low in comparison to actively managed investment companies.
BFA uses a representative sampling indexing strategy to manage the Fund. “Representative sampling” is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index. The securities
selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Underlying Index.
The Fund generally will invest at least 80% of its assets in the component securities of its Underlying Index and may invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index. Cash and cash equivalent investments associated with a derivative position will be treated as part of that position for the purposes of calculating the percentage of investments included in the Underlying Index. The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund.
The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of any collateral received).
The Underlying Index is sponsored by MSCI, which is independent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
Industry Concentration Policy. The Fund will concentrate its investments i.e., hold 25% or more of its total
assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
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GARP - Performance

Return Ranking - Trailing

Period GARP Return Category Return Low Category Return High Rank in Category (%)
YTD 31.7% N/A N/A N/A
1 Yr 48.3% N/A N/A N/A
3 Yr 13.6%* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period GARP Return Category Return Low Category Return High Rank in Category (%)
2023 41.6% N/A N/A N/A
2022 -28.0% N/A N/A N/A
2021 27.0% N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period GARP Return Category Return Low Category Return High Rank in Category (%)
YTD 31.7% N/A N/A N/A
1 Yr 48.3% N/A N/A N/A
3 Yr 13.6%* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period GARP Return Category Return Low Category Return High Rank in Category (%)
2023 41.8% N/A N/A N/A
2022 -28.0% N/A N/A N/A
2021 27.0% N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

GARP - Holdings

Concentration Analysis

GARP Category Low Category High GARP % Rank
Net Assets 47.4 M N/A N/A N/A
Number of Holdings 167 N/A N/A N/A
Net Assets in Top 10 42.2 M N/A N/A N/A
Weighting of Top 10 47.88% N/A N/A N/A

Top 10 Holdings

  1. NVIDIA Corp 6.18%
  2. Adobe Inc 5.50%
  3. Apple Inc 5.22%
  4. Applied Materials Inc 5.12%
  5. Eli Lilly Co 5.08%
  6. Microsoft Corp 4.97%
  7. Broadcom Inc 4.62%
  8. Tesla Inc 3.97%
  9. KLA Corp 3.64%
  10. Mastercard Inc 3.57%

Asset Allocation

Weighting Return Low Return High GARP % Rank
Stocks 		99.79% N/A N/A N/A
Cash 		0.46% N/A N/A N/A
Other 		0.00% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High GARP % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High GARP % Rank
US 		99.79% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

GARP - Expenses

Operational Fees

GARP Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.15% N/A N/A N/A
Management Fee 0.15% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

GARP Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

GARP Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GARP Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

GARP - Distributions

Dividend Yield Analysis

GARP Category Low Category High GARP % Rank
Dividend Yield 0.53% N/A N/A N/A

Dividend Distribution Analysis

GARP Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly

Net Income Ratio Analysis

GARP Category Low Category High GARP % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

GARP Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

GARP - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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