IWV Fund Description

The iShares Russell 3000 ETF tracks a cap-weighted index that measures the investable U.S. equities market, covering the entire market-cap spectrum, including micro-caps.

IWV ETF.com Insight

[As of 7/23/14] Hugely popular IWV provides investors with arguably better exposure than our neutral benchmark, though at an elevated cost. The fund holds roughly 500 more names than ourthe fund's massive liquidity will keep transaction costs low benchmark, as it reaches further down the cap spectrum to 98% of the investable market. This makes for a more comprehensive portfolio, but in reality has little impact on the fund's relative risk or portfolio characteristics. Micro- and small-cap firms make up so little of the broad market that their influence on a cap-weighted portfolio is minimal. Net-net, IWV delivers excellent exposure but charges 20 basis points, which is more than 4 times that of the cheapest fund in the segment. Still, the fund's massive liquidity will keep transaction costs low, and its huge asset base effectively removes any closure risk. (Insight updated 01/16/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/28/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

IWV (Mkt)
0.43% 5.98% 7.17% 18.56% 17.10% 17.62% 8.6%

IWV (NAV)

0.37% 5.92% 7.17% 18.59% 17.11% 17.63% 8.6%

Russell 3000 Index

0.38% 5.98% 7.29% 18.83% 17.34% 17.84% 8.8%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IWV Top 10 Countries View All

IWV Top 10 Sectors

IWV Top 10 Holdings View All

IWV Summary Data

BlackRock

A company that produces and manages ETFs.

05/22/00

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.20%

The net total annual fee a fund holder pays to the issuer.

$5.77 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$18.25 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.02%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

IWV Portfolio Data

$101.34 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

22.02

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.74

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.60%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

09/24/14

The date on which a security's price excludes an upcoming dividend.

2,994

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

IWV Index Data

Russell 3000 Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI USA Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to IWV

VTI, SCHB, IYY, DTN, VTHR

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

IWV ETF.com Efficiency Insight

[As of 7/23/14] IWV effectively delivers an investable version of its index, held back only by its 0.20% expense ratio, which is more than 4 times that of its cheapest competitors. IWV hasn't managed to claw back any of its expense ratio through sec lending, but it has provided consistent tracking. IWV's several billions in assets obliterates any fund closure risk. (Insight updated 01/16/2014)


Total Return
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/28/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

IWV (Mkt)
0.43% 5.98% 7.17% 18.56% 17.10% 17.62% 8.6%

IWV (NAV)
0.37% 5.92% 7.17% 18.59% 17.11% 17.63% 8.6%

Russell 3000 Index
0.38% 5.98% 7.29% 18.83% 17.34% 17.84% 8.8%

MSCI USA Investable Markets
0.42% 5.99% 7.08% 18.25% 16.62% 17.25% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IWV Portfolio Management

0.20%

The net annual fee a fund holder pays to the issuer.

-0.27%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.22%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.32%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

IWV Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

IWV Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

70% / 30%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

N/A

The multiple of the underlying index which the fund aims to deliver. For funds that reset, the leverage factor holds true only for the reset period, often just 1 day.

N/A

The time period at which the fund “trues up” its leverage factor. For funds that reset, the reset period–often just 1 day–is the length of time over which the fund delivers its leverage factor.

IWV ETF.com Tradability Insight

[As of 7/23/14] IWV is easy and cheap to trade. The fund trades tens of millions on a normal day, which helps explain why spreads are tiny. Retail investors can therefore trade with confidence, while a strong block liquidity score means even the largest players can trade shares with little penalty. (Insight updated 01/16/2014)

Average Spread

Premium/Discount

Volume

IWV ETF.com/ Block LiquidityAs of 07/29/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of IWV. IWV is rated a 5 out of 5.

IWV Tradability

156,214

The average number of shares traded during a 60 day period.

$18.25 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

139,606

Median number of shares traded over the past 45 trading days.

$16.38 M

Median dollar value of shares traded over the past 45 trading days.

0.02%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

$0.03

The difference between the highest and lowest posted prices for an ETF, averaged over the past 60 days, in dollars.

0.00%

The middle value in the ranked set of all premium/discount values over a 12-month period.

0.11% / -0.20%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

2.79

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.05%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.01%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

2,138

The total number of net outstanding options contracts for an ETF.

$117.64

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

IWV ETF.com Fit Insight

[As of 7/23/14] IWV provides well-balanced and deep exposure to US equities. The fund is marginally more inclusive than our benchmark, reaching further down the cap spectrum for another 500 companies, which frankly are so small that they have little impact on this portfolio. Purists may see this small difference as an advantage, but either way, IWV delivers perfectly neutral coverage: It makes no meaningful sector bets, has no real size tilts and offers no growth or value bias. (Insight updated 01/16/2014)

IWV Sector/Industry BreakdownView All

IWV Segment Benchmark
16.82% 17.27%
16.55% 16.44%
13.66% 13.44%
13.44% 13.43%
11.77% 11.84%
9.99% 9.72%
3.20% 3.23%
3.16% 3.18%

IWV Geographic ExposureView All

IWV Segment Benchmark
99.65% 99.62%
0.02% 0.09%
0.08% 0.08%
0.07% 0.08%
0.08% 0.07%
-- 0.03%
0.01% 0.01%
-- 0.01%
-- 0.01%
0.09% 0%

IWV Segment Benchmark
99.68% 99.71%
0.22% 0.18%
0.08% 0.08%
0.02% 0.03%
0.01% 0.00%
99.98% / 0.02% 99.97% / 0.03%

IWV Performance Statistics

1.00

The degree to which the fund and its segment benchmark move up and down in unison.

1.00

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

0.28%

The excess return of fund relative to ETF.com segment benchmark on a risk adjusted basis. Only reported if statistically significant.

1.00

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.00

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.01%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI USA Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

IWV Benchmark Comparison

IWV
2994 Holdings
Segment Benchmark
2472 Constituents
Shared Holdings
2441 (Count)
 
97.23% (Weight)
IWVSegment Benchmark
$101.69 B$101.34 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

76%75%
18%18%
6%6%
1%1%
21.7722.02

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.762.74

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.71%1.70%

The weighted average of the current yield on the portfolio’s holdings.

24722994

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.