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ITOT Keeps Raking in Assets, Passing $5 Billion Mark

Thursday, October 13, 2016 12:33
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iShares logoStill flying under many investors’ radars — even though it recently eclipsed the $5 billion AUM mark — is the highly diversified equity fund iShares Core S&P Total U.S. Stock Market ETF (NYSE:ITOT).

ITOT (Expense Ratio: 0.07%) has reeled in more than $450 million in recent sessions via creation flows, in fact, boosting its asset base above $5.1 billion at the moment. A quick look at the chart below will show the recent swell in trading volume to around the 8 million share mark in one trading session (645,000 shares trade daily in this product).


ITOT is among the cheapest ETFs in the U.S.-listed landscape at only 7 basis points in terms of its expense ratio, and according to fund literature, ITOT delivers “exposure to the total U.S. stock market, ranging from some of the smallest to largest companies,” tracking the S&P Total Market Index.

When we peel back the onion we see a high level of diversification within the underlying portfolio basket here, with 3,727 individual equities listed, and market cap exposures as follows: 1) Mega Cap (40%), 2) Large (30%), 3) Medium (19%), 4) Small (7%), 5) Micro-Caps (3%). When we look through top ten holdings we see familiar top rung “S&P 500” names, it is just that the portfolio weightings are different within ITOT as compared to an S&P 500 Index tracker like a SPY (SPDR S&P 500, Expense Ratio 0.09%) or IVV (iShares Core S&P 500, Expense Ratio 0.07%).

The top ten weightings in ITOT currently appear as follows: 1) AAPL (2.66%), 2) MSFT (1.96%), 3) XOM (1.59%), 4) AMZN (1.44%), 5) JNJ (1.42%), 6) FB (1.30%), 7) BRK.B (1.20%), 8) GE (1.16%), 9) T (1.09%), 10) JPM (1.06%).

From a category and competitive standpoint, ITOT fits within the “All Cap Equity” space along with fifty-six other ETFs presently listed within the U.S. landscape. ITOT is currently is the fifth largest fund in the space in terms of asset size, behind giants such as VTI (Vanguard Total Stock Market, Expense Ratio 0.05%, $64 billion in AUM) and USMV (iShares Edge MSCI Min Vol USA, Expense Ratio 0.15%, $13.3 billion in AUM) as well as SCHB (Schwab U.S. Broad Market, Expense Ratio 0.03%, $6.8 billion in AUM) and another iShares’ fund, IWV (iShares Russell 3000, Expense Ratio 0.20%, $6.1 billion in AUM).

ITOT fell $0.09 (-0.18%) to $48.76 in Thursday afternoon trading. Year-to-date, ITOT has risen 5.01%, versus a 4.66% gain in the S&P 500 index during the same period.

Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch
paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.

Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.

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