Key Highlights

  • The fund holds 956 small-cap U.S. stocks selected with value, quality, momentum and low Volatility factors.
  • No single holding represents more than about 0.8 percent of market value.
  • The expense ratio is 0.15 percent, with quarterly distributions.
  • Net Assets were about $4.3 billion on November 11, 2026.

The iShares U.S. Small-Cap Equity Factor ETF (NYSEARCA:SMLF) closed at $86.56 on November 11, 2026, with net assets of about $4.3 billion. The fund seeks to track an index of small-cap U.S. stocks selected using value, quality, momentum and low volatility factors. Its portfolio is built to offer small-company exposure through a rules-based multifactor method rather than through individual stock selection.

Ticker and exchange

SMLF, NYSE Arca

Benchmark index

STOXX U.S. Small-Cap Equity Factor Index

Net asset value

$86.52 (Nov 11, 2026)

Daily NAV change

Up $0.80 (0.93%)

Net assets

$4,300,206,445

Number of holdings

956

Expense ratio

0.15%

30-day SEC yield

1.13%

Distribution frequency

Quarterly

Fund inception

April 28, 2015

Small-Cap Coverage Through Factors

Small-cap companies are typically smaller in Market Value than the largest listed firms and can be more sensitive to changes in Credit conditions and domestic demand. The index used by SMLF screens this group for value, quality, momentum and low volatility characteristics and then assigns weights based on those signals.

The large number of holdings, 956 in total, spreads the portfolio across many industries. Because no single company represents a large share of the fund, the portfolio structure differs from that of a concentrated small-cap strategy.

Holdings and Sector Spread

EMCOR Group accounts for about 0.78 percent of market value, followed by Williams-Sonoma at 0.70 percent and Jabil at 0.61 percent. Reliance Steel and Aluminum and Tapestry each hold roughly 0.60 percent, while NVent Electric and Tenet Healthcare also appear among the largest positions.

The top holdings span industrials, consumer discretionary, technology, materials and healthcare. This breadth reflects the index's broad coverage of the small-cap segment of the U.S. market.

Trading and Distribution Details

About 251,861 shares traded on November 11, 2026, compared with a 30-day Average Daily Volume of roughly 208,194 shares. The 30-day median bid-ask spread was 0.07 percent, and the fund had 49.7 million shares outstanding.

The fund distributes income quarterly, and the September 2026 payment totaled $0.207943 per share. The 30-day SEC Yield was 1.13 percent and the 12-month trailing yield was 0.99 percent, both calculated at the end of October 2026.

Final Word

SMLF provides a multifactor route into small U.S. companies, using a 956-holding portfolio built around value, quality, momentum and low volatility. Its 0.15 percent expense ratio and quarterly distributions set the fund's cost and income terms. Its results will depend on how these factor signals behave and on the economic conditions facing smaller domestic businesses.