An exchange traded fund that holds the S&P Capital IQ Equity Research's highest overall ETF ranking of overweight is the iShares Russell 1000 Growth Index Fund (IWF). As of late March, the fund had an overweight ranking in Performance Analytics, Risk Considerations, and Cost Factor categories.
"With an inception date of May 22, 2000, IWF is one of the older U.S. equity ETFs. IWF recently had 253.3 million shares outstanding and a market cap of $16.8 billion," Tom Graves, of S&P Capital IQ Equity Research, wrote in a recent report. "Based on market cap, IWF was one of the 10 largest U.S. equity ETF. Also, at about $67, IWF is currently at the high end of its 52-week price range. Average daily trading volume was about 2.2 million shares," Graves wrote.
The top sectors represented in IWF were information technology, consumer discretionary and industrials, respectively. Of the 578 holdings in the ETF, the majority of them were U.S. domiciled companies.
Of all the ETFs available, investors should discern which funds to invest in by researching the companies or stocks owned by the fund. Here is a breakdown of S&P Capital IQ Equity Research's analysis of IWF:
- Performance Analytics: IWF received a good S&P STARS score for underlying holdings.
- Risk Considerations: The measure focuses in on consistency and growth of historical earnings and dividends. The three year appraisal for standard deviation, which is a measure of fund volatility, was favorable.
- Cost Factors: This relates to the fund security and not the holdings. A favorable assessment was given to the 0.20% expense ratio and the bid/ask spread.
iShares Russell 1000 Growth Index Fund
Tisha Guerrero contributed to this article.