Key Highlights

  • The fund holds 956 small-cap U.S. stocks selected through value, quality, momentum and low Volatility factors.
  • EMCOR Group, Williams-Sonoma and Jabil are among the largest positions by market value.
  • Net asset value is $86.15, after a one-day gain of $2.60, or 3.11%.
  • The expense ratio is 0.15%, and distributions are paid quarterly.

Small-capitalization stocks are a segment many investors reach through broad index funds, and the iShares U.S. Small-Cap Equity Factor ETF (NYSEARCA:SMLF) adds a factor-based layer to that exposure. Figures in this article are current to November 9, 2026. The fund seeks to track an index of small-cap U.S. stocks selected using value, quality, momentum and low volatility factors, aiming to build a diversified small-cap portfolio with a systematic approach. Shares trade on NYSE Arca and have been listed since April 2015.

Fund Fact

Detail

Exchange and ticker

NYSE Arca: SMLF

Fund inception

April 28, 2015

Net assets

$4.28 billion

Net asset value

$86.15

Daily NAV change

+$2.60 (+3.11%)

Expense ratio

0.15%

30-day SEC yield

1.09%

Distribution frequency

Quarterly

Number of holdings

956

How Factor Selection Shapes the Portfolio

EMCOR Group holds about 0.8% of market value, Williams-Sonoma about 0.7% and Jabil about 0.6%. The largest positions remain modest in weight, reflecting the broad spread across 956 companies.

Sector exposure includes industrials, consumer discretionary and information technology, with Reliance Steel & Aluminum, Tenet Healthcare and Flex among the top holdings. The factor screens favor companies that combine several characteristics rather than relying on a single attribute.

Trading and Price Movement

The net asset value rose $2.60 in the latest session, a gain of 3.11%. Shares outstanding total about 49.7 million, and the 30-day average Volume of roughly 210,000 shares shows steady activity. The median bid-ask spread of 0.07% indicates moderate costs.

The premium of 0.06 to NAV in recent figures indicates that shares were trading near the value of underlying holdings, with limited divergence between market and net asset values.

Costs, Income and Risk

The expense ratio is 0.15%, reflecting a management fee of the same amount. Distributions are paid quarterly, and the 30-day SEC Yield of 1.09% describes the income profile.

Small-cap stocks may be less stable and less liquid than larger companies, which can lead to sharper price movements. Factor strategies can also lag broader markets for extended periods when targeted characteristics fall out of favor.

Final Word

The iShares U.S. Small-Cap Equity Factor ETF offers a systematic route to a wide set of American small-cap stocks, screened through several factors at once. Its low fee, broad holdings and quarterly income form a practical structure. Those considering small-cap exposure will weigh factor design against their own goals and time horizon.