Core Insights - The Vanguard Small-Cap Value ETF (VBR) is a passively managed fund launched on January 26, 2004, with over $30.57 billion in assets, making it the largest ETF in the Small Cap Value segment of the US equity market [1] - Small cap companies, defined as those with market capitalizations below $2 billion, present high potential but also come with higher risks [2] - Value stocks typically have lower price-to-earnings and price-to-book ratios, but also exhibit lower sales and earnings growth rates compared to growth stocks [3] Costs - The ETF has an annual operating expense ratio of 0.07%, positioning it as one of the least expensive options in its category [4] - It offers a 12-month trailing dividend yield of 2.03% [4] Sector Exposure and Top Holdings - The ETF's largest allocation is to the Financials sector, comprising approximately 21.70% of the portfolio, followed by Industrials and Consumer Discretionary [5] - Individual holdings include Slcmt1142 at about 1.08% of total assets, with NRG Energy Inc (NRG) and Emcor Group Inc (EME) also among the top holdings [6] Performance and Risk - VBR aims to match the performance of the CRSP U.S. Small Cap Value Index, having gained roughly 3.30% year-to-date and 6.60% over the past year as of July 23, 2025 [7] - The ETF has traded between $162.76 and $217.30 in the past 52 weeks [7] - With a beta of 1.03 and a standard deviation of 19.72% over the trailing three years, it is classified as a medium-risk investment [8] Alternatives - VBR holds a Zacks ETF Rank of 2 (Buy), indicating strong expected returns and favorable expense ratios [9] - Other comparable ETFs include the Schwab Fundamental U.S. Small Company ETF (FNDA) with $8.62 billion in assets and an expense ratio of 0.25%, and the iShares Russell 2000 Value ETF (IWN) with $11.09 billion in assets and an expense ratio of 0.24% [10] Bottom-Line - Passively managed ETFs like VBR are gaining popularity among both institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [11]

Market Trends & Short Interest - Small cap value stocks, oil stocks, and building stocks have been heavily shorted, but this trend is reversing [1] - Institutions are currently underinvested in energy, building materials, and small cap value [2] - There is concern about excessive excitement surrounding large cap growth stocks, which dominate the S&P 500 [3] Company Performance & Valuation - 10 out of 14 companies in the Russell 3000 that have more than tripled since April 8 lows are not generating profits [1] - A dental implant company, Zimvi, experienced a 122% increase in stock price due to a takeover offer and high short interest [1] - Oracle's valuation, trading at approximately 35 times forward earnings, is causing some concern [4] - Oracle's backlog has increased by 100% year-over-year, positioning it as a major internet provider [5] Investment Strategy - It is advisable to own names that the market is short or underowned, while being cautious of overowned names [2] - Trimming the Oracle position is considered appropriate, but exiting entirely is not recommended due to the company's growth potential and strong position in data and AI [4][5] - Oracle's advantage in AI stems from corporations using its software to store and analyze data [6]

Core Insights - The iShares Russell 2000 Value ETF (IWN) is a passively managed fund aimed at providing broad exposure to the Small Cap Value segment of the US equity market, with assets exceeding $10.95 billion, making it one of the largest ETFs in this category [1] Investment Potential - Small cap companies, defined as those with market capitalizations below $2 billion, present significant investment potential but also come with higher risks [2] - Value stocks typically have lower price-to-earnings and price-to-book ratios, and while they have lower sales and earnings growth rates, they have historically outperformed growth stocks in most markets, although they may underperform in strong bull markets [3] Cost Structure - The annual operating expenses for IWN are 0.24%, positioning it as one of the cheaper options in the ETF space, with a 12-month trailing dividend yield of 1.78% [4] Sector Allocation - The ETF has a significant allocation to the Financials sector, comprising approximately 30.30% of the portfolio, followed by Industrials and Real Estate [5] - The top 10 holdings account for about 5.26% of total assets, with Southstate Corp (SSB) making up around 0.71% of total assets [6] Performance Metrics - IWN aims to match the performance of the Russell 2000 Value Index, having gained about 0.22% year-to-date and approximately 0.31% over the past year as of July 21, 2025, with a trading range between $131.84 and $181.35 in the past 52 weeks [7] - The ETF has a beta of 1.07 and a standard deviation of 21.83% over the trailing three-year period, indicating a medium risk profile [8] Competitive Landscape - IWN holds a Zacks ETF Rank of 2 (Buy), indicating strong expected returns based on various factors, making it a compelling option for investors interested in the Small Cap Value segment [9] - Other alternatives include the Schwab Fundamental U.S. Small Company ETF (FNDA) with $8.49 billion in assets and an expense ratio of 0.25%, and the Vanguard Small-Cap Value ETF (VBR) with $30.17 billion in assets and a lower expense ratio of 0.07% [10] Conclusion - Passively managed ETFs like IWN are increasingly favored by both retail and institutional investors due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [11]

Core Viewpoint - The Invesco S&P SmallCap 600 Pure Value ETF (RZV) is a passively managed fund targeting the Small Cap Value segment of the US equity market, with assets exceeding $206.50 million, making it an average-sized ETF in this category [1]. Group 1: Small Cap Value Characteristics - Small cap companies, defined as those with market capitalizations below $2 billion, are considered high-potential stocks but carry higher risks compared to large and mid-cap companies [2]. - Value stocks typically exhibit lower price-to-earnings and price-to-book ratios, along with lower sales and earnings growth rates. Historically, value stocks have outperformed growth stocks in most markets, although they may underperform during strong bull markets [3]. Group 2: Costs and Performance - The ETF has an annual operating expense ratio of 0.35%, which is competitive within its peer group, and a 12-month trailing dividend yield of 0.96% [4]. - RZV aims to replicate the performance of the S&P SmallCap 600 Pure Value Index, having lost approximately -3.48% year-to-date and -0.25% over the past year as of July 17, 2025. The ETF has traded between $83.11 and $119.36 in the last 52 weeks [7]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Consumer Discretionary sector, comprising about 26.80% of the portfolio, followed by Financials and Energy [5]. - Par Pacific Holdings Inc (PARR) represents about 2.49% of total assets, with the top 10 holdings accounting for approximately 17.72% of total assets under management [6]. Group 4: Risk and Alternatives - RZV has a beta of 1.20 and a standard deviation of 24.57% over the trailing three-year period, indicating a higher risk profile. The ETF includes around 147 holdings, which helps mitigate company-specific risk [8]. - Alternatives to RZV include the iShares Russell 2000 Value ETF (IWN) and the Vanguard Small-Cap Value ETF (VBR), which track similar indices and have larger asset bases of $10.92 billion and $29.95 billion, respectively [10].

Core Insights - The iShares S&P Small-Cap 600 Value ETF (IJS) is a passively managed ETF launched on July 24, 2000, with assets exceeding $6.39 billion, making it a significant player in the Small Cap Value segment of the US equity market [1] Investment Potential - Small cap companies, defined as those with market capitalizations below $2 billion, present high potential but also come with elevated risks [2] - Value stocks typically exhibit lower price-to-earnings and price-to-book ratios, along with lower sales and earnings growth rates, but have historically outperformed growth stocks in most markets, although they may lag in strong bull markets [3] Cost Structure - The annual operating expenses for IJS are 0.18%, positioning it as one of the more cost-effective options in the ETF space, with a 12-month trailing dividend yield of 1.80% [4] Sector Allocation and Holdings - The ETF has a significant allocation to the Financials sector, comprising approximately 22.20% of the portfolio, followed by Industrials and Consumer Discretionary [5] - Mr Cooper Group Inc (COOP) represents about 1.46% of total assets, with the top 10 holdings accounting for roughly 3.81% of total assets under management [6] Performance Metrics - IJS aims to replicate the performance of the S&P SmallCap 600 Value Index, having experienced a year-to-date loss of approximately -2.64% and a one-year gain of about 10.11% as of July 11, 2025, with a trading range between $83.54 and $118.05 over the past 52 weeks [7] - The ETF has a beta of 1.06 and a standard deviation of 22.49% over the trailing three-year period, indicating a medium risk profile with effective diversification across 471 holdings [8] Alternatives - IJS holds a Zacks ETF Rank of 2 (Buy), indicating strong potential based on expected returns, expense ratios, and momentum, making it a favorable option for investors interested in the Small Cap Value segment [9] - Other comparable ETFs include the iShares Russell 2000 Value ETF (IWN) with $11.56 billion in assets and an expense ratio of 0.24%, and the Vanguard Small-Cap Value ETF (VBR) with $30.66 billion in assets and a lower expense ratio of 0.07% [10] Conclusion - Passively managed ETFs like IJS are gaining popularity among retail and institutional investors due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [11]