Irish-domiciled Small Cap Value

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bogle_man
Posts: 13
Joined: Tue Apr 21, 2015 3:38 pm

Irish-domiciled Small Cap Value

Post by bogle_man » Thu Jul 12, 2018 9:01 am

I am looking for an Irish-based Small Cap Value ETF. Ideally it is a global one, but worst case I may settle for a US only Small Cap Value. I am no expert in judging which ETF fits the asset class I want, but it seems like I do not have many options.

Option 1: Vanguard Global Value Factor UCITS ETF (ticker VDVA)
http://www.morningstar.co.uk/uk/etf/sna ... entType=FE


Option 2: iShares MSCI World Small Cap UCITS ETF (ticker WSML)
http://www.morningstar.co.uk/uk/etf/sna ... entType=FE


If I filter the iShares offering in Ireland for Small Cap, I get the following list. But again, I am not sure which one gets closest to the Small Cap Value asset class I want:
https://www.ishares.com/uk/individual/e ... fsac=43615

Can you help me out in picking the right one?

Valuethinker
Posts: 35655
Joined: Fri May 11, 2007 11:07 am

Re: Irish-domiciled Small Cap Value

Post by Valuethinker » Thu Jul 12, 2018 9:42 am

bogle_man wrote:
Thu Jul 12, 2018 9:01 am
I am looking for an Irish-based Small Cap Value ETF. Ideally it is a global one, but worst case I may settle for a US only Small Cap Value. I am no expert in judging which ETF fits the asset class I want, but it seems like I do not have many options.

Option 1: Vanguard Global Value Factor UCITS ETF (ticker VDVA)
http://www.morningstar.co.uk/uk/etf/sna ... entType=FE


Option 2: iShares MSCI World Small Cap UCITS ETF (ticker WSML)
http://www.morningstar.co.uk/uk/etf/sna ... entType=FE


If I filter the iShares offering in Ireland for Small Cap, I get the following list. But again, I am not sure which one gets closest to the Small Cap Value asset class I want:
https://www.ishares.com/uk/individual/e ... fsac=43615

Can you help me out in picking the right one?
AFAIK there isn't one. If you can find a US listed one that has Reporting status a HMRC then you could use that.

bogle_man
Posts: 13
Joined: Tue Apr 21, 2015 3:38 pm

Re: Irish-domiciled Small Cap Value

Post by bogle_man » Fri Jul 13, 2018 10:15 am

OK, I understand there is no Small Cal Value. What would be the next best thing?

I pulled details about several small cap funds and listed them all here so it is easy to take a look. Which one is closer to Small Cap Value? Which one is the best Small Cap ETF?


WSML - iShares MSCI World Small Cap UCITS ETF - Global
Link: http://www.morningstar.co.uk/uk/etf/sna ... entType=FE
ER: 0.35
Turnover:
Morningstar UK Style Box: Mid Blend
Average Mkt Cap (Mil) USD 2800

Market Capitalisation % of Equity
Giant 0.00
Large 0.40
Medium 57.45
Small 39.93
Micro 2.22

Valuations and Growth Rates Equity Portfolio
Price/Prospective Earnings 16.51
Price/Book 1.85
Price/Sales 1.20
Price/Cash Flow 8.28
Dividend-Yield Factor 1.98



VDVA - Vanguard Global Value Factor UCITS ETF - Global
Link: http://www.morningstar.co.uk/uk/etf/sna ... entType=FE
ER: 0.22
Turnover: 95.4% !!!
Morningstar UK Style Box: Mid Value
Average Mkt Cap (Mil) USD 9730

Market Capitalisation % of Equity
Giant 11.90
Large 36.19
Medium 31.98
Small 14.84
Micro 5.09

Valuations and Growth Rates Equity Portfolio
Price/Prospective Earnings 10.34
Price/Book 1.08
Price/Sales 0.61
Price/Cash Flow 3.62
Dividend-Yield Factor 2.92




ISP6 (IDP6) - iShares S&P SmallCap 600 UCITS ETF -- US focus only
Link: http://www.morningstar.co.uk/uk/etf/sna ... entType=FE
ER: 0.40
Turnover:
Morningstar UK Style Box: Small Blend
Average Mkt Cap (Mil): USD 1742

Market Capitalisation % of Equity
Giant 0.00
Large 0.00
Medium 12.03
Small 82.46
Micro 5.51

Valuations and Growth Rates Equity Portfolio
Price/Prospective Earnings 18.09
Price/Book 2.14
Price/Sales 1.04
Price/Cash Flow 9.80
Dividend-Yield Factor 1.39




CUSS - iShares MSCI USA Small Cap UCITS ETF -- US focus only
Link: http://www.morningstar.co.uk/uk/etf/sna ... entType=FE
ER: 0.43
Turnover:
Morningstar UK Style Box: Small Blend
Average Mkt Cap (Mil): USD 3183

Market Capitalisation % of Equity
Giant 0.00
Large 0.25
Medium 55.12
Small 41.54
Micro 3.10

Valuations and Growth Rates Equity Portfolio
Price/Prospective Earnings 17.53
Price/Book 2.20
Price/Sales 1.38
Price/Cash Flow 9.74


R2US - SPDR® Russell 2000 US Small Cap UCITS ETF - US focus only
Link: http://www.morningstar.co.uk/uk/etf/sna ... entType=FE
ER: 0.30
Turnover:
Morningstar UK Style Box: Small Blend
Average Mkt Cap (Mil) USD 1871

Market Capitalisation % of Equity
Giant 0.00
Large 0.00
Medium 23.09
Small 67.25
Micro 9.66

Valuations and Growth Rates Equity Portfolio
Price/Prospective Earnings 17.04
Price/Book 2.06
Price/Sales 1.17
Price/Cash Flow 8.38
Dividend-Yield Factor 1.43



XRSU - Xtrackers Russell 2000 UCITS ETF 1C - US focus only
Link: http://www.morningstar.co.uk/uk/etf/sna ... entType=FE
ER: 0.30
Turnover:
Morningstar UK Style Box: Small Blend
Average Mkt Cap (Mil) USD 1849

Market Capitalisation % of Equity
Giant 0.00
Large 0.00
Medium 22.98
Small 66.79
Micro 10.23


Valuations and Growth Rates Equity Portfolio
Price/Prospective Earnings 16.96
Price/Book 2.06
Price/Sales 1.18
Price/Cash Flow 8.54
Dividend-Yield Factor 1.40

bogle_man
Posts: 13
Joined: Tue Apr 21, 2015 3:38 pm

Re: Irish-domiciled Small Cap Value

Post by bogle_man » Fri Jul 27, 2018 12:18 am

Any opinion on this? You do not have to be European to help me evaluate the funds above.

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BeBH65
Posts: 1218
Joined: Sat Jul 04, 2015 7:28 am

Re: Irish-domiciled Small Cap Value

Post by BeBH65 » Fri Jul 27, 2018 1:40 am

For us funds one would use portfoliovizualizer.com to analyse the factor loadings.
For non-us funds one could use morningstar xray equity style to compare each of the boxes of the morningstar style box, not exactly the same but the best that i am aware about.
BeBH65. (only an investment enthusiast, not a financial adviser, perform your due diligence).

buylowbuyhigh
Posts: 39
Joined: Thu Dec 21, 2017 8:34 am

Re: Irish-domiciled Small Cap Value

Post by buylowbuyhigh » Fri Jul 27, 2018 5:24 am

SPDR has two Ireland domiciled SCV ETFs: ZPRV and ZPRX, which track MSCI US and Europe Small cap value weighted index. Also ZPRS is a MSCI World Small cap one (blend/cap weight), which was bested this year by the iShares WSML with lower expenses.

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