Global exchange-traded fund - iShares Russell 2000 Index Fund

USA

iShares Russell 2000 Index Fund increases 19 June, 2018

NEWS BITES - ETF

iShares Russell 2000 Index Fund (NYSE:IWM), the 11th largest Exchange Traded Fund by market cap in the United States, has increased 37.0c (or 0.2%) from its last trading session of June 18, 2018 to close at $US168.61. Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which fell 30.0 points (0.4%) in the day, the relative price increase was 0.6%. The rise has been propped up by firm volume of 1.1 times the average daily volume of 16 million units. The ETF advanced for an eighth straight day on Tuesday.

Price Change %1 Month3 Month6 Month1 Year
IWM3.57.99.923.7
MSCI USA2.12.34.115.4

THE PAST TWO YEARS

iShares Russell 2000 Index Fund accelerates rise, up 48% in 2 years

iShares Russell 2000 Index Fund (P:IWM), has strengthened $US54.55 (47.8%) over the past two years, compared with the Morgan Stanley Capital International USA Index which rose 1,998.6 points (37.6%) in the two years for a relative price increase of 10.2%. The units rose $US22.26 (19.5%) a year ago and $US32.29 (23.7%) in the past year to close at $US168.61 today.

SECTION 1

ISHARES RUSSELL 2000 INDEX FUND BULLISH SIGNALS

1.1 Technicals:

Uptrend: The ETF increased on firm volume, rising for an eighth consecutive day.

+ The price increased 1.0% in the last week and lifted 3.5% in the last month.

+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 166.74 minus the 26-day EMA of 164.21 is positive 2.53 suggesting a bullish signal. Both EMA prices are rising, another bullish signal.

+ Rises to Falls: in the past month the number of rises outnumbered falls 15:6 or 2.5:1.

+ The present value of $US1,000 (PV1000) invested one year ago in iShares Russell 2000 Index Fund is $US1,250, comprising a capital gain of $US237 and dividend reinvested of $US13. A comparison with Morgan Stanley Capital International World Index [MSCI World] and Morgan Stanley Capital International USA Index [MSCI USA] is shown below:

PV$10001-week1-month1-year
IWM.P1,0101,0361,250
MSCI World9841,0021,090
MSCI USA9931,0181,144

+ The present value of USD1,000 (PV1000) invested five years ago in iShares Russell 2000 Index Fund is $US1,817, including a capital gain of $US699 and dividend reinvested of $US118.

+ 5 years Multiplier in USD = 1.817x

+ Compound Annual Growth Rate (CAGR) in USD = 12.7%

1.2 Open Interest:

+ Open interest hit a 15-day high.

DurationOpen Interest change %Price change %Interpretation
1-day50.50.2Strong Market
1-week95.41.0Strong Trend

1.3 High Performance Indicators:

DescriptionValueRank In Market
Today's Turnover$US3 billionIn Top 2%
Price/MAP2001.1In Top 6%
Price/MAP501.06In Top 7%
% Prem to Vol Wtd Price2.1In Top Quartile

SECTION 2

ISHARES RUSSELL 2000 INDEX FUND BEARISH SIGNALS

Technicals:

Overbought/Bearish/Resistance Signals:

+ The Relative Strength Index (RSI) of 75.4 has penetrated the overbought line of 70, suggesting the price gain of 3.6% in the last 14 days is unusually high.

SECTION 3

PRICE VOLUME DYNAMICS

3.1 Technicals:

+ Volume: there were 17,620,000 units worth $US3 billion traded today. In the past week, volume was 0.9 times average and the units were up 1.0%.

+ The iShares Russell 2000 Index Fund is at a premium of 25.7%.

3.2 The Best 3 weeks in the past quarter [Relative Price Change or RPC]

Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Apr 09-132.620.50.9
May 07-112.12.4-0.30.6
May 28-Jun 011.60.611

3.3 The Worst 3 weeks in the past quarter [Relative Price Change or RPC]

Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Mar 19-23-4.7-5.91.20.9
Apr 23-27-0.6-0.1-0.50.8
May 21-25-0.30.3-0.60.6

3.4 Trailing 3 months

TurnoverUS$142.4 billion
Volume904,619,259
Volume Index (1 is avg)0.9

3.5 Trailing Price Change %

3-Year price change of 31.7% for IWM outperformed the change of 18.6% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 13.2%.

Price Change %QuarterYear3 Years
IWM7.923.731.7
MSCI World0.19.818.6

3.6 MCap - Historical Perspective

In the past 5 years Market Capitalization has increased by $US25.5 billion from $US22.4 billion to $US47.9 billion. Based on a dynamic start date of 5 years ago, there has been only 1 decline in MCap over the last 5 years.

Close PriceMCap (US$ B)
Last$US168.2447.9
1 Year ago$US140.5238.4
2 Years ago$US114.3525.4
3 Years ago$US125.4228
4 Years ago$US115.5924.2
5 Years ago$US97.4522.4

3.7 Moving Annual Return

Based on a dynamic start date of 5 years ago, the Moving Annual Return has been positive in 4 of the last 5 years. An investment a year ago in IWM would have produced a return of 24.8%.

IWMClose (USD)Dividends (USD)Capital Gain / (Loss) %% YieldAnnual Return %
Jun 19168.611.5423.71.124.8
1 Yr ago136.321.9119.51.721.2
2 Yrs ago114.061.68(10.9)1.3(9.6)
3 Yrs ago127.981.68.71.410.0
4 Yrs ago117.761.4518.71.520.1

Close 5 years ago $US99.25

3.8 Year-on-Year Comparison (Trailing year - ended 31 May)

In the past 5 years, IWM has jumped 66.9% from 97.54 to 162.77, an average annual compound rise of 10.8%.

201820172016201520142013
Close162.77136.52114.99123.89112.8697.54
% Price Change19.218.7-7.29.815.729.3
Avg Daily Volume15,300,34811,227,53814,597,88530,216,88744,041,39644,933,448
VWP150.01128.68113.09115.2810984.57
Turnover Period28 d35 d23 d12 d7 d8 d
Price Range134.13 - 160.62108.2 - 141.8193.42 - 129.17103.54 - 127.1393.58 - 120.5872.31 - 100.11

In the past 5 years average daily volume has declined 65.9% from 44.9 million units to 15.3 million units. Turnover period has increased from 8 days to 28 days. This indicates a larger number of core investors, making a long-term investment safer.

SECTION 4

RANKING

4.1 Global Rank out of 5,517 ETFs

The present value of $US1,000 invested a year ago is $US1,250, ranking it 565 out of 5,517 ETFs. Its 6-month relative strength (or price percentile rank) in USD is 91.

DescriptionValueRankQuartile
MCap (US$)48B18Top
Net Assets (US$)47.8B24Top
Rel Strength 6 Mo (US$)91486Top
PV$1000 (1Year) US$1,250565Top

4.2 Rank in the Total United States ETF Market [out of 1,464 ETFs]

DescriptionValueRank
MCap ($US)48B11
Net Assets ($US)48.5B12
Rel Strength 6 Mon ($US)90147
PV1000-1Year ($US)1,250107

SECTION 5

ANALYST RECOMMENDATION

DateBrokerageActionCurrent RatingPast Rating
Feb 19,2018Ned Davis Research GroupUPGRADE-
Oct 31,2017XTF Inc.Upgrade8.4 out of 108.1 out of 10
Mar 31,2017S&P Capital IQUpgrade--
Aug 02,2016Sabrient SystemsUpgrade--

SECTION 6

REPORTED BUYING AND SELLING

6.1 Institutional Buying and Selling Quarter Ended March 31

Total reported Institutional buying = 31,661,910 ETFs

Total reported Institutional selling = 23,830,166 ETFs

Net reported institutional buying = 7,831,744 ETFs

6.2 Reported Holdings of Institutions as at Mar 31, 2018

Total = 251,239,263 ETFs

Market Value = $US38.1 billion

6.3 Top 40 Institutional Holders of iShares Russell 2000 Index Fund

The top 40 institutional shareholders held 72.9% units of iShares Russell 2000 Index Fund. The largest shareholder was Wells Fargo & Company with 10.5% of iShares Russell 2000 Index Fund. The second largest shareholder was Bank of America Corp, DE with 8.84%.

Institution (CIK)ETFsHolding %Value $USD
Wells Fargo & Company (0000072971)28,989,08310.54.4 B
Bank of America Corp, DE (0000070858)24,406,7738.843.7 B
Goldman Sachs Group Inc. (0000886982)23,108,9248.373.5 B
Blackrock Inc. (0001364742)21,797,4177.93.3 B
Morgan Stanley (0000895421)13,970,0335.062.1 B
Citigroup Inc. (0000831001)9,969,3543.611.5 B
JP Morgan Chase & Co (0000019617)9,510,5823.451.4 B
Jones Financial Companies LLLP (0000815917)6,982,5692.531.1 B
UBS Group AG (0001610520)6,194,0952.24940.4 M
BNP Paribas Arbitrage, SA (0001166588)4,248,4751.54645 M
PNC Financial Services Group, Inc. (0000713676)4,210,2761.53639.2 M
Rafferty Asset Management, LLC (0001389426)3,308,2181.2502.3 M
Barclays PLC (0000312069)3,003,2741.09456 M
Natixis (0001274981)2,705,0630.98410.7 M
Summit Trail Advisors, LLC (0001698478)2,649,4070.96402.3 M
LPL Financial LLC (0001403438)2,373,7870.86360.4 M
Northern Trust Corp (0000073124)2,328,5710.84353.5 M
M&T Bank Corp (0000036270)2,282,7960.83346.6 M
Catalyst Capital Advisors LLC (0001549275)2,233,1990.81339.1 M
Millburn Ridgefield Corp (0001294571)2,233,1990.81339.1 M
Royal Bank Of Canada (0001000275)2,076,5560.75315.3 M
Personal Capital Advisors Corp (0001571669)2,019,6510.73306.6 M
Bank of Montreal, CAN (0000927971)1,925,7210.7292.4 M
First Republic Investment Management, Inc. (0001418204)1,736,7040.63263.7 M
Allianz Asset Management AG (0001535323)1,599,6680.58242.9 M
AllianceBernstein (0001109448)1,380,7860.5209.6 M
California State Teachers Retirement System (0001081019)1,319,9800.48200.4 M
Wellington Management Group LLP (0000902219)1,215,5020.44184.5 M
Nomura Holdings Inc. (0001163653)1,181,0360.43179.3 M
Envestnet Asset Management Inc. (0001407543)1,154,4390.42175.3 M
Keybank National Association /OH (0001089877)1,141,8080.41173.4 M
HSBC Holdings PLC (0000873630)1,096,0970.4166.4 M
Bank of New York Mellon Corp (0001390777)1,089,8830.39165.5 M
Raymond James (0001084208)1,084,0410.39164.6 M
TIAA, FSB (0001711615)1,052,7230.38159.8 M
U.S. Bancorp (DE) (0000036104)783,5070.28119 M
Citadel Advisors LLC (0001423053)766,7790.28116.4 M
Toronto Dominion Bank (0000947263)735,4150.27111.7 M
Windhaven Investment Management, Inc. (0001507640)715,1600.26108.6 M
State of Wisconsin Investment Board (0000854157)701,4000.25106.5 M
Held by Top 40201,281,95172.9230.6 billion

6.4 Major Increases in Top 40 institutional shareholders

Morgan Stanley increased their shareholding in iShares Russell 2000 Index Fund by 8.2 million units worth USD 1.3 billion. Wells Fargo & Company increased their shareholding by 7.7 million units worth USD 1.2 billion.

Institution (CIK)Increase in ETFsChange, $USD
Morgan Stanley (0000895421)8,225,7831.3 B
Wells Fargo & Company (0000072971)7,686,3571.2 B
Goldman Sachs Group Inc. (0000886982)3,131,327482.3 M
Citigroup Inc. (0000831001)2,571,957396.1 M
Bank of Montreal, CAN (0000927971)822,832126.7 M
BNP Paribas Arbitrage, SA (0001166588)635,38097.9 M
JP Morgan Chase & Co (0000019617)599,57592.3 M
Rafferty Asset Management, LLC (0001389426)581,43989.5 M
Royal Bank Of Canada (0001000275)490,61375.6 M
Jones Financial Companies LLLP (0000815917)399,58961.5 M
Personal Capital Advisors Corp (0001571669)362,05455.8 M
Millburn Ridgefield Corp (0001294571)258,19139.8 M
Catalyst Capital Advisors LLC (0001549275)258,19139.8 M
M&T Bank Corp (0000036270)83,05412.8 M
Bank of New York Mellon Corp (0001390777)27,4764.2 M
PNC Financial Services Group, Inc. (0000713676)24,6763.8 M
First Republic Investment Management, Inc. (0001418204)23,8323.7 M
TIAA, FSB (0001711615)19,9693.1 M
Natixis (0001274981)5,063779,763
Northern Trust Corp (0000073124)1,042160,481
Total26,208,400

6.5 Major Decreases in Top 40 institutional shareholders

HSBC Holdings PLC reduced their shareholding in iShares Russell 2000 Index Fund by 2.9 million units worth USD 448.7 million. Bank of America Corp, DE reduced their shareholding by 2.9 million units worth USD 443.9 million.

Institution (CIK)Decrease in ETFsChange, $USD
HSBC Holdings PLC (0000873630)2,913,488(448.7 M)
Bank of America Corp, DE (0000070858)2,882,385(443.9 M)
UBS Group AG (0001610520)2,710,704(417.5 M)
Barclays PLC (0000312069)2,172,763(334.6 M)
Citadel Advisors LLC (0001423053)388,238(59.8 M)
Allianz Asset Management AG (0001535323)348,855(53.7 M)
Blackrock Inc. (0001364742)331,163(51 M)
Envestnet Asset Management Inc. (0001407543)245,471(37.8 M)
Wellington Management Group LLP (0000902219)168,825(26 M)
LPL Financial LLC (0001403438)126,999(19.6 M)
AllianceBernstein (0001109448)65,124(10 M)
Raymond James (0001084208)35,178(5.4 M)
Total12,389,193

6.6 New Entrants in Top 40 institutional shareholders

Institution (CIK)ETFsValue, $USD
Summit Trail Advisors, LLC (0001698478)2,649,407402.3 M
California State Teachers Retirement System (0001081019)1,319,980200.4 M
Nomura Holdings Inc. (0001163653)1,181,036179.3 M
Keybank National Association /OH (0001089877)1,141,808173.4 M
U.S. Bancorp (DE) (0000036104)783,507119 M
Toronto Dominion Bank (0000947263)735,415111.7 M
Windhaven Investment Management, Inc. (0001507640)715,160108.6 M
State of Wisconsin Investment Board (0000854157)701,400106.5 M
Total9,227,713

6.7 Drop Outs from Top 40 institutional shareholders

Institution (CIK)ETFsValue, $USD
Landscape Capital Management, L.L.C. (0001536186)663,848100.8 M
Credit Suisse AG (0000824468)557,57584.7 M
Blue Harbour Group, LP (0001325256)528,97180.3 M
Bank of Nova Scotia (0000009631)460,00069.8 M
Jefferies Group LLC (0001084580)381,52057.9 M
Schroder Investment Management Group (0001086619)203,80430.9 M
Total2,795,718

SECTION 7

PROFILE

7.1 Description

iShares Russell 2000 Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the Russell 2000 Index (the Index). The Index measures the performances of the small-capitalization sector of the United States equity market. The Index is a subset of the Russell 3000 Index, and serves as the underlying index for the Russell 2000 Growth and Value Index series. The Index is capitalization-weighted and consists of the 2,000 smallest companies in the Russell 3000 Index. Component companies are adjusted for available float and must meet objective criteria for inclusion to the Index. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Fund's investment advisor is Barclays Global Fund Advisors.

7.2 SNAPSHOT

iShares Russell 2000 Index Fund (NYSE:IWM)

ISIN: US4642876555

Inception DateMay 22, 2000
Expense Ratio0.2% of average net assets
CategoryBlend - Small Cap
Fund Family NameiShares
Index TrackedRussell 2000 Index
Asset ClassEquity ETF

7.3 Contact details

Websitehttp://us.ishares.com/product_info/fund/overview/IWM.htm
Physical Address 45 Fremont Street San Fransisco, CA 94105 UNITED STATES
Phone (800) 474-2737

7.4 ETF Summary

Last$US168.24
Volume12,220,000
Volume Index (1 is avg)0.8
Market Cap$US47.9 billion
52-Week Range134.13 - 160.62
Units Outstanding284,550,000
Relative Strength (3 mo)87

7.5 Fund Managers and Management Fees

+ The managers of the ETF are Greg Savage and Diane Hsiung. The management fee is 0.2% of total assets

SECTION 8

DIVIDEND

Dividend:0.6
Dividend Date:December 21, 2017
Dividend Yield:0.9%
Annual Dividend:$US1.54

SECTION 9

TOP HOLDINGS & PORTFOLIO ALLOCATION

9.1 Top Holdings (April 25, 2018)

HoldingsWeight (%)
Nektar Therapeutics0.6
GrubHub Inc0.4
bluebird bio Inc0.4
Aspen Technology Inc0.3
SAGE Therapeutics Inc0.3
AveXis Inc0.3
Curtiss-Wright Corp0.3
EPAM Systems Inc0.3
Nutanix Inc0.3
Exact Sciences Corp0.3

9.2 Sector Breakdown (February 16, 2018)

Sector%
Information Technology17.1
Health Care15.9
Industrials15.1
Consumer Discretionary12.2
Real Estate6.2
Materials4.7
Energy3.8
Utilities3.2
Consumer Staples2.5
Telecommunication Services0.8

9.3 Market Cap Breakdown (January 29, 2018)

Market Cap%
Small54.4
Micro35.2
Mid10.3
Other0.2

IWM.P

CIK: 1100663

CUSIP: 464287655

Source: www.BuySellSignals.com