Global exchange-traded fund - iShares Russell 2000 Index Fund

USA

iShares Russell 2000 Index Fund decreases, 2 days' volume in a day 21 September, 2018

NEWS BITES - ETF

iShares Russell 2000 Index Fund (NYSE:IWM), the 13th largest Exchange Traded Fund by market cap in the United States, has decreased 37.0c (or 0.2%) from its last trading session of September 20, 2018 to close at $US170.81. The fall was exacerbated by robust volume of 1.5 times the average daily volume of 16.5 million units. Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which fell 4.1 points (0.1%) in the day, the relative price change was -0.2%. Its MCap is $US48.1 billion.

NET ASSET VALUE release date 20 September, 2018

The Net Asset Value (NAV) of the ETF is $US171.21 and it last traded at a discount of 0.234% to NAV.

IWMToday1 Day agoWeek agoMonth ago
Price, USD170.81169.44171.53170.8
NAV, USD171.21169.49171.34170.8
Price/NAV1.01.01.01.0
MSCI USA7,763.787,767.847,705.027,586.18

THE PAST YEAR

iShares Russell 2000 Index Fund surges 20% in past year, outperforming 90% of the market

iShares Russell 2000 Index Fund (P:IWM), surged $US28.80 (or 20.3%) in the past year to close at $US170.81 today. This means the ETF has outperformed 90% of ETF-listed in the same period. Compared with the Morgan Stanley Capital International USA Index which has risen 18.3% over the same period, this is a relative price increase of 1.9%.

SECTION 1

ISHARES RUSSELL 2000 INDEX FUND BEARISH SIGNALS

1.1 Technicals:

+ The price decreased 0.4% in the last week.

+ The 1.5% discount to 12-month high of $US173.39 against the 26.8% premium to 12-month low of $US134.71 suggests the climb might be peaking.

1.2 Low Performance Indicator:

DescriptionValueRank In Market
Price Change %-0.2In Bottom Quartile

SECTION 2

ISHARES RUSSELL 2000 INDEX FUND BULLISH SIGNALS

2.1 Technicals:

+ The present value of $US1,000 (PV1000) invested one year ago in iShares Russell 2000 Index Fund is $US1,218, comprising a capital gain of $US203 and dividend reinvested of $US15. 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.P9961,0001,218
MSCI World1,0151,0081,105
MSCI USA1,0081,0091,187

+ The present value of USD1,000 (PV1000) invested three years ago in iShares Russell 2000 Index Fund is $US1,603, including a capital gain of $US536 and dividend reinvested of $US67.

+ 3 years Multiplier in USD = 1.603x

+ Compound Annual Growth Rate (CAGR) in USD = 16.8%

2.2 High Performance Indicators:

DescriptionValueRank In Market
Today's Turnover$US4.3 billionIn Top 2%
Price/MAP2001.08In Top Quartile

SECTION 3

PRICE VOLUME DYNAMICS

3.1 Momentum:

+ Volume: there were 24,933,519 units worth $US4.3 billion traded today. In the past week, volume was 0.9 times average and the units were down 0.4%.

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]
Jul 02-062.81.90.80.7
Aug 20-241.80.90.90.6
Aug 06-101.2-0.21.30.7

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]
Jul 23-27-2.10.5-2.60.9
Jun 25-29-2-1.4-0.61.1
Sep 03-07-1.4-1.1-0.40.7

3.4 Trailing 3 months

TurnoverUS$140.2 billion
Volume834,062,462
Volume Index (1 is avg)0.8

3.5 Trailing Price Change %

3-Year price change of 53.6% for IWM outperformed the change of 34.9% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 18.6%.

Price Change %QuarterYear3 Years
IWM1.620.353.6
MSCI World4.510.134.9

3.6 MCap: 5-Year Perspective

In the past 5 years Market Capitalization has increased by $US20.5 billion from $US27.7 billion to $US48.2 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$US171.1848.2
1 Year ago$US142.1040.2
2 Years ago$US119.6227.9
3 Years ago$US111.2427.4
4 Years ago$US107.7924.4
5 Years ago$US99.8827.7

3.7 Moving Annual Return (Past 5 years)

Based on a dynamic start date of 5 years ago, the Moving Annual Return has consistently exceeded 4%.

IWMClose (USD)Dividends (USD)Capital Gain %% YieldAnnual Return %
Sep 21170.811.8920.31.321.6
1 Yr ago142.011.919.41.621.0
2 Yrs ago118.971.776.91.68.5
3 Yrs ago111.241.673.21.64.8
4 Yrs ago107.791.488.31.59.8

Close 5 years ago $US99.52

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

In the past 5 years, IWM has jumped 84.3% from 93.72 to 172.77, an average annual compound rise of 13.0%.

201820172016201520142013
Close172.77138.04120.1110.4110.2493.72
% Price Change16.224.9-9.45.522.322.6
Avg Daily Volume15,557,86511,170,38314,387,49628,262,10342,623,99344,359,578
VWP151.88131112.06115.68110.7686.86
Turnover Period29 d38 d22 d14 d8 d8 d
Price Range134.71 - 159.67106.54 - 142.5190.24 - 121.2398.2 - 123.3593.49 - 113.9769.96 - 98.62

In the past 5 years average daily volume has declined 64.9% from 44.4 million units to 15.6 million units. Turnover period has increased from 8 days to 29 days. This indicates a larger number of core investors, making a long-term investment safer.

3.9 Beta:

+ Beta: the Beta is 0.7. A Beta lower than 1 suggests this is a low risk, low return ETF with volatility less than that of the market.

SECTION 4

RANKING

4.1 Global Rank out of 5,391 ETFs

The present value of $US1,000 invested a year ago is $US1,218, ranking it 379 out of 5,391 ETFs. Its 6-month relative strength (or price percentile rank) in USD is 93.

DescriptionValueRankQuartile
MCap (US$)48.1B21Top
Net Assets (US$)46.9B24Top
Price/NAV1.01394Top
Rel Strength 6 Mo (US$)93402Top
PV$1000 (1Year) US$1,218379Top

4.2 Rank in the Total United States ETF Market [out of 1,530 ETFs]

DescriptionValueRank
MCap ($US)48.1B13
Net Assets ($US)46.9B13
Rel Strength 6 Mon ($US)84245
PV1000-1Year ($US)1,218150

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--

SECTION 6

REPORTED BUYING AND SELLING

6.1 Institutional Buying and Selling Quarter Ended June 30

Total reported Institutional buying = 35,416,144 ETFs

Total reported Institutional selling = 17,095,496 ETFs

Net reported institutional buying = 18,320,648 ETFs

6.2 Reported Holdings of Institutions as at Jun 30, 2018

Total = 274,105,075 ETFs

Market Value = $US44.8 billion

6.3 Top 40 Institutional Holders of iShares Russell 2000 Index Fund as at June 30, 2018

The top 40 institutional shareholders held 76.9% units of iShares Russell 2000 Index Fund. The largest shareholder was Wells Fargo & Company with 10.08% of iShares Russell 2000 Index Fund. The second largest shareholder was Bank of America Corp, DE with 9.57%.

Institution (CIK)ETFsHolding %Value $USDUnrealised Gain/(Loss)*
Wells Fargo & Company (0000072971)28,394,14410.084.6 B224.6 M
Bank of America Corp, DE (0000070858)26,937,3969.574.4 B213.1 M
Goldman Sachs Group Inc. (0000886982)21,877,1207.773.6 B173.1 M
Blackrock Inc. (0001364742)18,965,5676.733.1 B150 M
Morgan Stanley (0000895421)18,717,8116.653.1 B148.1 M
JP Morgan Chase & Co (0000019617)12,533,8554.452.1 B99.2 M
Citigroup Inc. (0000831001)11,493,9244.081.9 B90.9 M
Senator Investment Group LP (0001443689)8,500,0003.021.4 B67.2 M
Jones Financial Companies LLLP (0000815917)5,886,2032.09963.1 M46.6 M
UBS Group AG (0001610520)4,984,8641.77815.6 M39.4 M
PNC Financial Services Group, Inc. (0000713676)4,172,3361.48682.7 M33 M
BNP Paribas Arbitrage, SA (0001166588)4,122,0531.46674.4 M32.6 M
Natixis (0001274981)3,306,3531.17541 M26.2 M
LPL Financial LLC (0001403438)3,207,7521.14524.8 M25.4 M
Rafferty Asset Management, LLC (0001389426)3,086,9011.1505.1 M24.4 M
M&T Bank Corp (0000036270)2,384,2140.85390.1 M18.9 M
Northern Trust Corp (0000073124)2,369,9010.84387.7 M18.7 M
Personal Capital Advisors Corp (0001571669)2,364,8960.84386.9 M18.7 M
Royal Bank Of Canada (0001000275)2,178,4000.77356.4 M17.2 M
Quantitative Investment Management, LLC (0001445911)2,078,8000.74340.1 M16.4 M
Catalyst Capital Advisors LLC (0001549275)2,034,6890.72332.9 M16.1 M
Millburn Ridgefield Corp (0001294571)2,034,6890.72332.9 M16.1 M
Landscape Capital Management, L.L.C. (0001536186)1,958,9780.7320.5 M15.5 M
First Republic Investment Management, Inc. (0001418204)1,860,1460.66304.3 M14.7 M
Nomura Holdings Inc. (0001163653)1,747,0850.62285.8 M13.8 M
Allianz Asset Management AG (0001535323)1,685,8770.6275.8 M13.3 M
United Services Automobile Association (0001021249)1,537,9300.55251.6 M12.2 M
Envestnet Asset Management Inc. (0001407543)1,534,7460.55251.1 M12.1 M
Barclays PLC (0000312069)1,447,4180.51236.8 M11.5 M
Bank of Montreal, CAN (0000927971)1,420,1940.5232.4 M11.2 M
Varma Mutual Pension Insurance Co (0001698484)1,394,6120.5228.2 M11 M
California State Teachers Retirement System (0001081019)1,319,9800.47216 M10.4 M
TD Asset Management Inc. (0001056053)1,175,7790.42192.4 M9.3 M
Cornerstone Wealth Management, LLC (0001674117)1,175,5800.42192.3 M9.3 M
AllianceBernstein (0001109448)1,146,2630.41187.5 M9.1 M
Bank of New York Mellon Corp (0001390777)1,117,9030.4182.9 M8.8 M
Keybank National Association /OH (0001089877)1,114,1000.4182.3 M8.8 M
Raymond James (0001084208)1,114,0330.4182.3 M8.8 M
Stadion Money Management, LLC (0001321220)1,075,4670.38176 M8.5 M
HSBC Holdings PLC (0000873630)1,021,5800.36167.1 M8.1 M
Held by Top 40216,479,53976.8935.4 billion

*Note: Unrealised profit/(loss) is computed on the basis of ETFs held at end of quarter times current week price of $US171.53 less price at end of quarter of $US163.61.

6.4 Major Increases in Top 40 institutional shareholders June 30, 2018 vs March 31, 2018

Morgan Stanley increased their shareholding in iShares Russell 2000 Index Fund by 4.7 million units worth USD 757.2 million. JP Morgan Chase & Co increased their shareholding by 3 million units worth USD 482.2 million.

Institution (CIK)Increase in ETFsChange, $USD
Morgan Stanley (0000895421)4,747,778757.2 M
JP Morgan Chase & Co (0000019617)3,023,273482.2 M
Bank of America Corp, DE (0000070858)2,530,623403.6 M
Citigroup Inc. (0000831001)1,524,570243.2 M
LPL Financial LLC (0001403438)833,965133 M
Natixis (0001274981)601,29095.9 M
Nomura Holdings Inc. (0001163653)566,04990.3 M
Envestnet Asset Management Inc. (0001407543)380,30760.7 M
Personal Capital Advisors Corp (0001571669)345,24555.1 M
First Republic Investment Management, Inc. (0001418204)123,44219.7 M
Royal Bank Of Canada (0001000275)101,84416.2 M
M&T Bank Corp (0000036270)101,41816.2 M
Allianz Asset Management AG (0001535323)86,20913.7 M
Northern Trust Corp (0000073124)41,3306.6 M
Raymond James (0001084208)29,9924.8 M
Bank of New York Mellon Corp (0001390777)28,0204.5 M
Total15,065,355

6.5 Major Decreases in Top 40 institutional shareholders June 30, 2018 vs March 31, 2018

Blackrock Inc. reduced their shareholding in iShares Russell 2000 Index Fund by 2.8 million units worth USD 451.7 million. Barclays PLC reduced their shareholding by 1.6 million units worth USD 248.1 million.

Institution (CIK)Decrease in ETFsChange, $USD
Blackrock Inc. (0001364742)2,831,850(451.7 M)
Barclays PLC (0000312069)1,555,856(248.1 M)
Goldman Sachs Group Inc. (0000886982)1,231,804(196.5 M)
UBS Group AG (0001610520)1,209,231(192.9 M)
Jones Financial Companies LLLP (0000815917)1,096,366(174.9 M)
Wells Fargo & Company (0000072971)594,939(94.9 M)
Bank of Montreal, CAN (0000927971)505,527(80.6 M)
AllianceBernstein (0001109448)234,523(37.4 M)
Rafferty Asset Management, LLC (0001389426)221,317(35.3 M)
Millburn Ridgefield Corp (0001294571)198,510(31.7 M)
Catalyst Capital Advisors LLC (0001549275)198,510(31.7 M)
BNP Paribas Arbitrage, SA (0001166588)126,422(20.2 M)
HSBC Holdings PLC (0000873630)74,517(11.9 M)
PNC Financial Services Group, Inc. (0000713676)37,940(6.1 M)
Keybank National Association /OH (0001089877)27,708(4.4 M)
Total10,145,020

6.6 New Entrants in Top 40 institutional shareholders as at June 30, 2018

Institution (CIK)ETFsValue, $USD
Senator Investment Group LP (0001443689)8,500,0001.4 B
Quantitative Investment Management, LLC (0001445911)2,078,800340.1 M
Landscape Capital Management, L.L.C. (0001536186)1,958,978320.5 M
United Services Automobile Association (0001021249)1,537,930251.6 M
TD Asset Management Inc. (0001056053)1,175,779192.4 M
Cornerstone Wealth Management, LLC (0001674117)1,175,580192.3 M
Stadion Money Management, LLC (0001321220)1,075,467176 M
Total17,502,534

6.7 Drop Outs from Top 40 institutional shareholders as at June 30, 2018

Institution (CIK)ETFsValue, $USD
TIAA, FSB (0001711615)958,571156.8 M
Wellington Management Group LLP (0000902219)909,263148.8 M
U.S. Bancorp (DE) (0000036104)849,339139 M
Suntrust Banks Inc. (0000750556)612,850100.3 M
Toronto Dominion Bank (0000947263)260,00042.5 M
Citadel Advisors LLC (0001423053)121,95720 M
Total3,711,980

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$US171.18
Volume12,493,595
Volume Index (1 is avg)0.8
Market Cap$US48.2 billion
Day's Range169.81 - 171.30
52-Week Range134.71 - 173.39
Units Outstanding281,600,000
Relative Strength (3 mo)61

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:July 03, 2018
Dividend Yield:1.1%
Annual Dividend:$US1.89

SECTION 9

TOP HOLDINGS & PORTFOLIO ALLOCATION

9.1 Top Holdings (July 27, 2018)

HoldingsWeight (%)
Five Below Inc0.2
Etsy Inc0.2
Blackbaud Inc0.2
Entegris Inc0.2
LivaNova PLC0.2
Haemonetics Corp0.2
FibroGen Inc0.2
Idacorp Inc0.2
Loxo Oncology Inc0.2
Medidata Solutions Inc0.2

9.2 Asset Allocation (July 16, 2018)

Asset Class%
Common equity99.8
ETF Cash Component0.2

9.3 Sector Breakdown (July 30, 2018)

Sector%
Technology15.1
Healthcare14.1
Industrials14.1
Consumer Cyclical13.2
Real Estate8.4
Basic Materials5.8
Other4.5
Energy4.2
Consumer Defensive3.4

9.4 Country Breakdown (August 31, 2018)

Country %
Americas99.3
Greater Europe0.3
Greater Asia0.1

IWM.P

CIK: 1100663

CUSIP: 464287655

Source: www.BuySellSignals.com